For profit news media may be more detrimental to society than for profit healthcare - with the former you get clickbait and framing of stories designed to manipulate your worldview, with the latter you just get more expensive medical care. https://www.macrumors.com/2019/06/28/publishers-apple-news-plus-revenue/ …
2. The newspaper business, as Warren Buffett said, “went from monopoly to franchise to competitive to . . . toast,” well, that last bit is his prophecy. Now, after intense lobbying by the news industry, a group of bipartisan lawmakers are looking to bail out publishers.
3. It’s somewhat amusing to see the former public editor for the New York Times, whose core business model is creating words that sell ads to generate profits, revenue, and which had a 150+ year advantage over Google, Facebook, blame…Google, Facebook for NYT’s “reduced” profits!
4. The internet disrupted many industries, including news, but why wasn’t the New York Times (bankrolled by a billionaire), which launched a website long before Google, Facebook did, figure out a better ad model than Google, build a more loyal community of readers than Facebook?
5. Why were college kids in their dorm rooms able to pair the Internet search button and words with ads more effectively than a 150 year old publication that was creating content and had a massive sales team? Or maybe it’s the org structure that’s to blame?
6. CNN, NYT, Fox News, WSJ, and WaPo employ tens of thousands of sales people to help generate ad revenue - imagine if they didn’t have to rely on an ad model and could spend more on journalists and technologists who could focus on delivering quality journalism (less clickbait!)
7. Imagine if instead of trying to force Google, Facebook to redistribute ad revenue to news publishers, lawmakers came up with something that would remove small and big newspapers’ reliance on corporate/ad dollars…bonus: users get an ad-free (no more ad popups!) experience.
8. No more “if it bleeds it leads…”; no more divisive tweets or social media posts to promote content for clicks and meet revenue targets; no more creepy, tracking ads/commercial pollution spewing in readers’ faces - just pure, informative journalism.
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