Hard lessons for news

2 05 2011

by AngryPanda

The struggle of the printing media to take down some civil liberties with them as they die is sort of annoying for me but I rarely write about it. There’s two reasons for this. The struggle that really matters is in the US and I don’t see all that much of it. The struggle we have here is far more intense but no one reading this gives a shit. If you want to read about this stuff there are far smarter people than me already providing for you and today I’m going to quote from one of them.


* Tradition is not a business model. The past is no longer a reliable guide to future success.

* “Should” is not a business model. You can say that people “should” pay for your product but they will only if they find value in it.

* “I want to” is not a business model. My entrepreneurial students often start with what they want to do. I tell them, no one — except possibly their mothers — gives a damn what they *want* to do.

* Virtue is not a business model. Just because you do good does not mean you deserve to be paid for it.

* Business models are not made of entitlements and emotions. They are made of hard economics. Money has no heart.

* Begging is not a business model. It’s lazy to think that foundations and contributions can solve news’ problems. There isn’t enough money there. (Foundation friend to provide figures here.)

* There is no free lunch. Government money comes with strings.

* No one cares what you spent. Arguing that news costs a lot is irrelevant to the market.

* The only thing that matters to the market is value. What is your service worth to the public?

* Value is determined by need. What problem do you solve?

* Disruption is the law of the jungle and the internet. If someone can do what you do cheaper, better, faster, they will.

* Disrupt thyself. So find your weak underbelly before someone else discovers it. Or find someone else’s.

* The bottom line matters more than the top line. Plan for profitability over revenue, sustainability over size.

This is only a fraction of the article but first of all it is the good stuff and second some of it applies universally. In this case I intend to use some of those points in my next entry about piracy. I wrote about that once before in morals of piracy but this will be a whole series.

There’s another article “Google takes the FTC to school” that I should really translate for the local politics and press but they would never read it and I care even less about this place than anyone else on this blog. I might have mentioned that. Still worth a read.




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