ValleyWag posted an interesting article that I think makes for a good follow-up to yesterday’s post about blogs. In “Why there’s no money in being a Web celebrity,” former Business 2.0 reporter Owen Thomas makes a very good case that Lifecasting — basically filming your entire life and sharing it online — is dead.

A bunch of startups including Ustream.tv, Justin.tv, Kyte, Mogulus, thought there would be viewer and advertising interest in lifecasting.

For the most part, there’s not much interest in watching every detail of someone else’s life.

Want to know why?

What’s interesting is that Fortune also ran an article that made a similar point.

Check out: “User-generated video under siege: Remember how home-grown online video was going to be the future? Well, it’s not turning out that way. ”