Well, amidst all the dot.com crashes this fall (layoffs at almost all the major player new media companies in Toronto), somebody's figuring out how to make money on web-based entertainment. His name is Albert Nerenberg and he's a former Montreal newspaper columnist and documentary filmmaker whose most recent feather is that of founder of the film parody website Trailervision.

All kinds of investors lined up to pour money into Trailervision, whose unique content is replicated on all sorts of websites around the world. While most broadcast/broadband websites offer video that's simply rehashed from television channels, Nerenberg's stuff is unique to the web and highly entertaining, making it the hot content on the web. "Trailers for movies that don't exist," are the spoof offerings.

Now, out of studios in Toronto, the Trailervision trash are offering up a new web channel, Zapavision. It's part of what the company calls "the clickable video revolution." The company got $5,000 in seed money from a Banff Television Festival competition for innovative ideas in new media.

Clickable video -- in this case, using Quicktime clips -- "allows internet users to click on moving video and change the clip, replace characters or punch someone in the face if they don't like them." Sounds like a great way to work out some office aggravation.

Users submit fake or parody ads, then other users alter and improve on them. Some of the most popular feature ads such as Goop: The Soft Drink, Real Mouse TM, a mouse that allows you to click on the Real World and The University of Sex.

Eventually, the inventors of this technology see possible application in the real advertising industry. "The reality is that this technology offers advertisers a more engaging medium to attract the attention of viewers on the world wide web," says producer Nick Sutcliffe. "Imagine producing a commercial that people actually enjoy watching over and over."

It's a lot of fun, and another example of Canadians leading the way in humour, content and technology. Try it out:

Hobbitt Time: Next year at this time we should see the release of the first chapter in the long-awaited feature film version of J.R.R.'s Tolkien's Lord of the Rings. Little is known about this hush-hush project which is being spearheaded by New Zealand horror director Peter Jackson. However, if you want to get a taste of what's in store, one of the film's actors is currently in Toronto starring in a stage version of The Hobbit.

The Young Peoples Theatre production was adapted for the stage by Kim Selody. The Hobbit's been getting rave reviews from the Toronto press and kids alike. "Follow the adventures of Bilbo Baggins and his band of dwarves as they go on a quest for stolen treasure, stumble upon dragons, goblins, spiders, trolls, elves, and a not-so-clever creature named Gollum."

The Toronto Star said the play was quick-paced (good for the little ones) but short on character development (Tolkien's fault, I'd say). Worth checking out if you've got some kids around the house who'd enjoy an evening out.

Fine Tuning: Have you noticed all the Canadian content on the Food Network in recent weeks? We used to get a feed of the U.S. Food Network on our Canadian cable signals, but thanks to a deal with Atlantis-Alliance, it's not just the Iron Chef and Martha Stewart anymore. Now there's a feast of Canuck cookery. Tonight, you can watch the chefs from Canadian Living magazine whip up some of their favourite holiday treats. "Elizabeth Baird, Daphna Rabinovitch and Emily Richards, throw a special family party that celebrates their personal holiday traditions and memories. Daphna and her sister cook up a Hanukkah favourite -- potato latkes; Emily makes her grandmother's Christmas cannelloni with her mom; while Elizabeth and her sister whip up different mouth-watering shortbread cookies." 9 p.m. ET on the Food Network.