The end of the advertising model is now hitting global digital media and their Australian outposts are likely to suffer. So far, there are a handful of straws in the wind but, at internet speed, we know how quickly the wind can become a hurricane.

The firmest figure we have is the $50 million paid for once boiling hot tech culture publisher Mashable by former magazine owner Ziff Davis. Sure, $50 million is a lot of money for what is effectively an on-line masthead. But it’s a lot less than the $250 million valuation the title relied on in a funding round just last year.