Those readers who have a strong affinity for The New York Times might want to read this. It appears as though Schumpeter was right when he said, “Technology is not kind. It does not wait. It does not say please. It slams into existing systems… And often destroys them." Indeed. It is most likely to destroy those least equipped to adapt to it, even if they are staid and respected institutions that have henceforth generated something nearing $1b per year.
The best line in this by far is, "Now, normally, beating up on someone like this isn't very much fun. But we are talking about a profession that specializes in passing judgment, often snide, on everyone else. And so, onward..." How apropos in the case of the NYT.
And more...
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And our local media isn't doing much better. Our fair city is losing its largest tax payer when the wash post picks up and leaves town (I believe it is scheduled to move all production over a two year span, starting roughly now).
The interesting question at this point is not whether these classic news outlets will continue to exist (they will), but what will be the effect on the quality of their work of the coming shift from paper to strictly internet-based journalism? Will the NYT and the Post (no, not that one) continue to be standard bearers? If not, what will they be replaced by?
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