By Tom Foremski, Silicon Valley Watcher

Pamela Mahoney from the veteran venture capital firm Mohr, Davidow Ventures (MDV) invited me to stop in and chat with a couple of their in-house entrepreneurs about media technology products they are developing.

Ted Shelton and Nick Chim showed me some of their work and I'm glad I got to see it because I got to glimpse a new class of emerging internet applications that could provide that next, defining edge that is lacking in the morass of so many similar "web 2.0" applications out there.

And you will see Silicon Valley Watcher, and related sites, becoming test beds for next generation media technologies coming out of MDV and other organizations.

I've also agreed to work with Performancing.com on some interesting web site performance monitoring technology . It is these kinds of relationships that interest me a lot because we all get to cooperate on figuring out answers to tough problems.

It is my belief that the future will reward technology-enabled media companies and that media professionals that understand the technology side of things will also do well. That's because you will be able to craft new types of media entities, products, services if you know something about how the media technologies, such as RSS, wikis, collaborative platforms, etc, do what they do.

But at the heart of such relationships between SVW and others, is that I see us all trying to figure out one of the most important questions out there: what will be the new business models for the new internet?

Or even more importantly from where I sit--what will be the business models for the new media?

I think this question is very important because media is how society thinks, it is how it figures out serious problems. And that's why we need to ensure we can support high quality media because we know from software engineering that garbage-in equals garbage-out.

We won't be able to make the right decisions if our media is low quality.

We know there is tremendous value in high-quality media except that we don't have a good "value-recovery mechanism" for it. Google AdSense and other automated advertising networks recover just pennies on content that costs a thousand times more to produce.

We need a much more efficient value-recovery technology for content.

I think this is one of the Gordian Knots of Internet 2.0 and it will deliver huge amounts of value and riches to those that figure it out.