According to Calacanis, founder of Weblogs Inc., here is the new blog or publishing model for making money online:

1. Start a blog with adsense and make spare change.
2. Scale a blog to 250k to 1M pages a month and become big enough for Federated Media, AdBrite, and Blogads to care about you–now you’re making a living.
3. Scale over 1M pages a month and become big enough that you can afford your own sales group and fire Federated Media for taking 40% of your money because your cost of sales will be 15-20% as a stand alone business.

I’m currently making some decent “spare change” off blogging, and have one site that gets over 130,000 page views per month. If what Jason says is true, I’m more than half way there at “making a living” which I’d gladly accept given blogging’s ability to free up time for other projects, etc.

So let’s hear it readers; how many would trade-in their day job, business venture(s), or other projects to make a living off blogging full-time?