Clay Shirky has some some truths: "Maybe 25 year olds will start demanding news from yesterday, delivered in an unshareable format once a day. Perhaps advertisers will decide 'Click to buy' is for wimps. Mobile phones: could be a fad. After all, anything could happen with print. Hard to tell, really."
The other significant point is that journalists are being kept deliberately in the dark about the fortunes of their employers. When asked to estimate their own circulation, they overestimate it by an order of magnitude. It's the sharp between the newsroom and the business side: "
It’s tempting to try to find a moral dimension to newspapers’ collapse, but there isn’t one. All that’s happened is advertisers are leaving, classifieds first, inserts last. Business is business; the advertisers never had a stake in keeping the newsroom open in the first place. This disconnection between the business side and the news side was celebrated as a benefit, right up to the moment it became an industry-wide point of failure.
Last Call [Clay Shirky/Medium]
Wang Jianlin made billions speculating on Chinese real-estate; now that he’s diversified into buying Hollywood movie studios and chains of movie theaters, the richest man in China is prepared to say what many have known: the Chinese property market is a huge, deadly bubble that’s ripe to burst.
Wells Fargo’s Board of Directors have finally exercised their right to claw back part of the hundreds of millions of dollars taken home by two senior executives who were compensated on the basis of the fraudulent earnings the bank took in while opening 2,000,000 secret accounts in their customers’ names, taking money out of those […]
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