β³οΈ dcposch
@dcposch.eth
Still can't believe Bezos bought the Washington Post for 0.005 twitters (less than one of his boats) A big underlying reason why journalists are so mad at everything, and at tech especially, is that the economics of news are terrible
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β³οΈ dcposch
@dcposch.eth
Pre-internet, most of college-educated America subscribed to a newspaper. If you didn't, you'd be last to know important things. Trouble is, information is a non-excludable good. Post internet, no matter who gets the scoop, we all see it ~immediately. The rails are efficient. Subscribing is strictly optional now:
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β³οΈ dcposch
@dcposch.eth
What happens? Darwinism. Most outlets that make it adapt to an ad-based model, changing from a recurring revenue business (sticky, trust based) to an entertainment business (bursty, hit based; a single viral story pays more clicks than a year of good-but-boring local journalism).
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β³οΈ dcposch
@dcposch.eth
One side effect is Bad Vibes in journalism land. Trust fund NYU kids doing unpaid internships; postgrads writing for $35k/year, cancelling each other. Crabs in a bucket.
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Om Malik
@ommalik
As someone who has been part of the ecosystem and seeking change and embrace of the internet forever, most of media industryβs problems are self afflicting and that is why they always blame others for their problems! They embrace change long after the change has made things irrelevant.
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π_π
@m-j-r.eth
@saymore how many points stick out to you?
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@saymore
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