Microsoft thinks Instapundit can't increase readership by providing links away from instapundit.com. This is explicitly mentioned in a powerpoint presentation on the new Microsoft Content Management Server: "Aggregate sites cannot simply provide hyperlinks to source... Potential to lose customer to competing aggregate sites."

Obviously, I think they're already being proven wrong on this one. It's not just Instapundit and Weblogs that prove them wrong, but also sites like Penny Arcade -- a real site much like the XBox.com and related fictional example used in the same presentation.