What readers are being served when a sports blog leverages its technological innovations in order to create a legion of untrained and unpaid writers? Who benefits when a media company cripples its own user experience and launches a campaign to drive away some of its best writers and editors? Whose interests are being served when a magazine masthead is gutted and replaced by a loose collection of amateurish contractors? Who ultimately wins when publications start acting less like purpose-driven institutions and more like profit drivers, primarily tasked with achieving exponential scale at any cost? What material good is produced when private equity goons go on cashing their checks while simultaneously slashing payroll throughout their newsrooms? Things have gotten so bad that even publications that get away with defining themselves as anti-establishment are in fact servile to authority in all forms, and exist for the sole purpose of turning their readers into a captive source of profit extraction.
The truth is that nobody who matters—the readers—ever asked for any of this shit. Every bad decision that has diminished media—every pivot to video, every injection of venture capital funds, every round of layoffs, every outright destruction of a publication—was only deemed necessary by the constraints of capitalism and dull minds. This is an industry being run by people who, having been betrayed by the promise of exponential scale and IPOs, now see cheapening and eventually destroying their own products as the only way to escape with whatever money there is left to grab.
He’s writing here about journalism, but the same could be said for pretty much any business that has been sucked dry and hollowed out by financial vultures in search of never-ending growth and profit.
This race is one that we can’t win, and it needs to stop.