The story goes something like this:
Jeremy knows advertisers. Advertisers want to put ads on other blogs (other then Jeremy's, that is). Jeremy gets bright idea. Jeremy posts on blog. Now he's aiming for 50 bloggers for a combined 10 million pageviews a month. Advertisers pay bloggers for ad spots. Everybody's happy because we took out the middleman ad networks (and replaced it with Jeremy, who should be a lesser evil ;-)).
I'm pretty sure Jeremy will take a fair cut for his work and he should be able to get higher prices for ads. Frankly, I don't think I want to do BlogAds anymore, because of those annoying pictures that advertisers keep changing and because they pay late and take a 20% cut. If this goes well, we should get nicer looking, unobtrusive ads. These ads pay for my VPS hosting but recently I've been tempted to approve more ads than the number that actually covers hosting. Gah I feel like a sneaky sell-out, though I probably needn't be, because if I'm not wrong, most of you would be reading via RSS aggregators. Show of hands, how many of you hate the ads here? How many don't care?