★ On Perceived Value

The greatest challenge facing publishing firms like The New York Times is not the lack of an obvious digital revenue stream to replace declining print sales. The issue is the perception of value. Established media institutions are struggling to convince consumers that they are producing work of significantly greater value than that of new media reporters. Defenders of the status quo will argue that editorial control and curation make old media entities like The New York Times indispensable, yet both market trends and the increasing power of online journalism seem to indicate the opposite. Question: how is The New York Times intrinsically more valuable than the work of a well informed blogger? Answer: it's not. It's just more expensive. It's an outdated business model destined for the scrap heap of history. Let them go, world. It's time to move on.