According to The Economist, the share of teenagers who read newspapers fell from 60% to 20% in the last 10 years.
80% of Arabs aged 18-24 get their news from social media (up from 25% in 2015).
A third of the planet is under 20 years old.
Every time you read a negative article about social media, consider if the source has a conflict of interest.
We wouldn't trust Ford or GM to write an unbiased review of Tesla.
The transition started probably going all the way back to Craiglist. Traditional media has seen their trust/authority wane, as they've cashed in their points to try and stop the tide (also becoming radicalized in the process).
I wonder how many of those people getting their news from social media are reading articles from traditional media though. These stats don't make it clear.
High quality journalism has an important role in society, and I admire the great journalists who are soldiering on in an increasingly difficult industry. There is an exciting opportunity to find new business models that will fund great journalism, and reverse the trend.
My guess is that it has something to do with cryptocurrency, letting the crowds directly pay for great journalism more easily, on a global basis (vs the clunky credit card paywalls). Major opportunity for the right group to capture.
You can follow @brian_armstrong.
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