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The Journalism Bubble
From The Other Perfesser:

William Jacobson has some insights on the latest moves by internet media. Worth reading:

I suppose the founder of First Look Media, who also was the founder of eBay, doesn't much care if he loses tens of millions of dollar to buy ego-journalists, but what about the others. How will traditional media deal with the raising of everyone's boat from the combination of ego-journalism and superlative-mania?

The bidding up of mostly mediocre journalism has to end badly.

Bubble always do end badly. And no one expects it.
Posted by: badanov 2014-02-23
http://www.rantburg.com/poparticle.php?ID=386145