iI for impotent Internet

Warren Buffet, who can draw attention to himself by being one of the richest people in the world, said that newspapers are increasingly becoming a poor investment.

"For most newspapers in the United States, we would not buy them at any price," he said. "They have the possibility of going to just unending losses."

He provided a brief explanation for his opinion.

As long as newspapers were essential to readers, they were essential to advertisers, he said. But news is now available in many other venues, he said.

By "other venues," Mr. Buffett surely meant the Internet, the new medium that no money (not even the tall stack which Mr. Buffett has to his disposal) can buy, coz the Internet is not a corporation.

But it was someone else from Berkshire Hathaway Inc. who made his near obituary very interesting.

Mr. Munger called newspapers' woes "a national tragedy....These monopoly daily newspapers have been an important sinew to our civilization, they kept government more honest than they would otherwise be."

finance.yahoo.com...

That's very true. Names such as The New York Times or The Washington Post were always considered a legitimate source of news; those newspapers were very influential and powerful enough to make a US President to resign, as Richard Nixon found out to his complete dismay.

The Internet is a far more dynamic medium than the newspaper, but it lacks the necessary influence and prestige that politicians fear, and it will never acquire them. The Internet will always be a Pulitzer Price-free medium where ordinary folks, who lack the skills of professional journalists for the most part, often share rumors ready to be upgraded into far-fetched conspiracies any time, thereby smearing the legitimacy of the young medium.

Some politicians may eye the decline of the traditional and influential media with a smile knowing that the era of super-anchors, such as Peter Jennings and Dan Rather, has passed by not to return.

Saw a cartoon today, can't source, but the gist was one guy saying that newspapers are almost extinct.
Other guy says, well then where are the bloggers going to get their material from?
Point being, newspapers will get their crap in one bag soon or be replaced by papers that have learned to play nice.

reply to post by LAUGHING-CAT

The Pulitzer Price doesn't go to the newspaper that "plays nice." The newspapers do vie for readership and if you establish yourself as a "president buster," then the folks are more likely to buy your paper. I wonder if the Internet in any form really takes over and the newspaper racks in the street dissapear. There would be no one to blow the whistle loud, unless the newspapers adjust in some way following the natural selection of species and switch to the on-line publishing.




[edit on 5/4/2009 by stander]

reply to post by LAUGHING-CAT


I believe you're talking about Non Sequitur and the comic in question can be found at that link.

The simple truth is, the newspapers will have to adapt or they will die. I suppose there will always be a niche market, but the monster papers will probably end up in a museum.

More than half the newspaper is ads. Crappy ads. They keep their audiences stupid.

They are sad that they no longer get to lie and deceive us?

You are saying muckrakers are why we should care about the SS media stream? I disagree because any muckraking (like say deep throat?) is just planted non-news anyway. The controllers have co-opted muckraking and reporting. If anything true gets said, it'll be a whistleblower or blog getting sidelined and ignored by the marketing dollars pumping through the presses also known as "newspapers".

If a person's perceptions and views have been formed by newspapers, then they are a pitiable person. After 9/11 there is no reason to even read a newspaper (which I only do for entertainment now). It's a natural reaction to disbelieve ones government when one considers the outright lies which Nazi Germany was telling their own people at the end of that war. It is self evident that the newspapers are like carnies barking you over to their midway and play some rigged games. Heck even the classified are getting beat by Internet.

The pressman will kill his own tribe given half a chance. He produces mountains of pulp but scraps of honesty and truth. He poisons his own people's well.

Good riddance to him. I am glad newspapers will no longer be able to pander down to humanity. On behalf of all the people who love truth, I have no pity for the press media who have laughed at the common man and fed him baby food. I hope their trip to the gutter wil be fast.