posted on May, 4 2009 @ 05:25 PM
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
"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
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
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."
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
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.