Internet.com reporter Gerry Blackwell wrote an interesting piece the other day about a company called Narrowstep.

Narrowstep is doing today what was originally "promised" in the 1998-1999 Internet boom - that is the potential that the Web will bring 1 million or more TV stations to users in coming years. In those days the concept was hype and probably had lots to do with Yahoo paying $5.4 billion for Broadcast.com. Of course the idea was ahead of its time.

I love the Narrowstep idea and must confess (for a variety of reasons) that I bought a chunk of stock yesterday to back up my hunch that this company is on to something big.

I rarely if ever buy stocks anymore. Several years ago I had a decent reputation as an Internet stock picker when Internet IPOs were aborning. But these days of arcane regulations, red tape, bucket shop tort litigators, and Sarbanes-Oxley, few IPOs take place. And if regulation trends continue the idea of an Internet IPO taking place in the United States will be as rare as a Grand Slam in pro tennis or golf.

Perhaps Narrowstep will not make it big in the marketplace. But what this company is trying to do "big" is going to happen "big" in the not too distant future. People today are excited about YouTube and other video community sites, but I think the big money will be in very specific Web TV shows like the ones that Narrowstep is creating.