William Randolph Hearst III on Mainstream Media: "I don't think they should have a monopoly...."

It was striking to hear William Randolph Hearst III, grandson of the great media baron, say of traditional media at our Stanford roundtable last week: "I don't think they should have a monopoly on how I surf for news."

He went on to say that citizen journalism is "well underway," but that traditional media still has an important role to play.  Quite a poignant declaration from Will, a former newspaper reporter, publisher, venture capitalist and private investor.

Also in this segment is Jigar Thakarar, who heads content management at CBS Interactive.  He spoke about monetizing some of the network's niche programs including WallStrip and Moblogic.

More excerpts from the conference to come. 

Below is shot of some of our participants, left to right: Charlie Tillinghast, msnbc.com; Joan Walsh, Salon.com; Steve Grove, YouTube; Andrew Heyward, Monitor Group, former president of CBS News.

--Andy Plesser, Executive Producer