In a post on TechCrunch about bloggers raising money, Michael Arrington urges these bloggers to forgo raising money in favor of banding together and crushing a medium-size media company by somehow attaining less than half it’s revenue:

Someone needs to pony up a big round of financing around an existing blog, or perhaps a new entity, and then start rolling them up into a big fat CNET crushing $200 million/year in revenue business. . . . What I’d like to see, and even be a part of, is the blogger equivalent to the 1992 U.S. Mens Basketball Dream Team. That team could take CNET apart in a year, hire the best of the survivors there, and then move on to bigger prey.

This vision is on a weird borderline between crazy and unambitious. It’s unambitious, because if you want to crush a web media company, why pick CNET? There are far larger companies you could shoot to surpass. It’s a little crazy, because it depends upon combining a large number of blogs (and, more importantly, bloggers) together. Just ignoring the potential audience overlap, doing all of those deals is going to be very, very hard. And, at the end, you still are half the size of CNET, assuming CNET doesn’t grow. Personally, I think Henry Blodgett’s comments are right on target. After expressing interest in the idea, he notes that “we would secretly hope that we could find more interesting things to do” than killing CNET.

So, Michael, if you are going to dream of world domination, pick a bigger world!