You know, if there had been some serious investigative journalism prior to the current catastrophe into why the FDA was so bad at approving new technologies, we might all be in a better place. Instead we got thinkpieces on the dangers of scooters.
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Having worked as a journalist and an editor, I have to say the economics of doing good journalism are simply not there. Incentives in the business are upside down. Good journalism is always money losing
It wasn't money-losing for most of the 20th century. If you made the authoritative news source in a town, people would read it, and the local department store would advertise in it to reach them. That world alas has fallen to bits...
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Is the last sentence a pun?
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A lot of people cannot tell the difference b/w good and bad journalism. Worse is when people only read the news that confirm their biases. With technology, it is too easy to access the kind of news you want to hear. Suggestion algorithms on social media are only making it worse.
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The question so many media-hating VCs, who should and could help rebuild the media in the digital era, seem reluctant or unable to answer.
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News is like music 15 yrs ago. Demand hasn’t changed but the model is obsolete. Like record labels in Napster era, news orgs are clinging to the past. Is there even a way to support quality, non-activist journalism? Only bright spot I see is niche newsletters written by 1 person.
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It's not that news orgs are "clinging" to obsolete models, it's that there is a diminishing amount of ad dollars available for platforms that reach less than 1 billion users. they simply have no way forward
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I think SV folks often don't fully appreciate the connection between economic precarity in the field & the journo herd mentality that tech is suffering at the hands of & fighting against. The problem presents as tribal, but it's structural.https://twitter.com/jonst0kes/status/1243707310104608770 …
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There is no business model for local journalism right now. There's not much of one for any kind of journalism. So saying that journos should do this or that thing with their craft -- this is Jay Rosen's approach to fixing things & I think it's destined for failure.
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And it fell to bits because while there used to be many local gatekeepers there are now a few tech companies that dominate communication and information access. And that community just shits on journalists for every bad takewhile believing in their exceptionalism.
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And ironically the same crowd that worships financial success insists that the journalists are the problem and they are the solution. Putting down journalists as beneath entrepreneurs is a quotidian hobby for your VC cliques.
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