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The bad news about the news
A long piece about where the news business is.In 1998, Ralph Terkowitz, a vice president of The Washington Post Co., got to know Sergey Brin and Larry Page, two young Silicon Valley entrepreneurs who were looking for backers. Terkowitz remembers paying a visit to the garage where they were working and keeping his car and driver waiting outside while he had a meeting with them about the idea that eventually became Google. An early investment in Google might have transformed the Post's financial condition, which became dire a dozen years later, by which time Google was a multi-billion dollar company. But nothing happened. "We kicked it around," Terkowitz recalled, but the then-fat Post Co. had other irons in other fires. Such missteps are not surprising. People living through a time of revolutionary change usually fail to grasp what is going on around them. The American news business would get a C minus or worse from any fair-minded professor evaluating its performance in the first phase of the Digital Age. Big, slow-moving organizations steeped in their traditional ways of doing business could not accurately foresee the next stages of a technological whirlwind. Obviously, new technologies are radically altering the ways in which we learn, teach, communicate, and are entertained. It is impossible to know today where these upheavals may lead, but where they take us matters profoundly. How the digital revolution plays out over time will be particularly important for journalism, and therefore to the United States, because journalism is the craft that provides the lifeblood of a free, democratic society. The Founding Fathers knew this. They believed that their experiment in self-governance would require active participation by an informed public, which could only be possible if people had unfettered access to information. James Madison, author of the First Amendment guaranteeing freedom of speech and of the press, summarized the proposition succinctly: "The advancement and diffusion of knowledge is the only guardian of true liberty." Thomas Jefferson explained to his French friend, the Marquis de Lafayette, "The only security of all is in a free press. The force of public opinion cannot be resisted when permitted freely to be expressed." American journalists cherish another of Jefferson's remarks: "Were it left to me to decide whether we should have a government without newspapers or newspapers without a government, I should not hesitate a moment to prefer the latter." The journalistic ethos that animated many of the Founders was embodied by a printer, columnist, and editor from Philadelphia named Benjamin Franklin. The printing press, which afforded Franklin his livelihood, remained the engine of American democracy for more than two centuries. But then, in the second half of the 20th century, new technologies began to undermine long-established means of sharing information. First television and then the computer and the Internet transformed the way people got their news. Nonetheless, even at the end of the century, the business of providing news and analysis was still a profitable enough undertaking that it could support large organizations of professional reporters and editors in print and broadcast media. Now, however, in the first years of the 21st century, accelerating technological transformation has undermined the business models that kept American news media afloat, raising the possibility that the great institutions on which we have depended for news of the world around us may not survive. More at the link... Posted by: badanov 2014-10-27 |
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