Often, the rationale behind an assertion of market failure includes “the part you can’t say out loud” - that people are too lazy or stupid to act on their own best interests, such as following the news to keep track of what the politicians are up to.
Podcasts, streamers, and independent bloggers ARE the market solution. These forms of media supplanting primetime news programming is no market failure. It's a market triumph.
The horse carriage analogy is apropos.
Open statement to journos whining about how the market failed you: No. You failed your audience, and we left. Cry about it.
I didn't get into it, but the music industry went through its own shakeout as Napster and other filesharing disrupted its model. The market sorted that out.
Indeed it did - in spite of RIAA's ham-handed attempts to force a penitent customer base back into Sam Goody, credit card in hand, to purchase Reload as a complete album on Compact Disc the way God intended.
Often, the rationale behind an assertion of market failure includes “the part you can’t say out loud” - that people are too lazy or stupid to act on their own best interests, such as following the news to keep track of what the politicians are up to.
Podcasts, streamers, and independent bloggers ARE the market solution. These forms of media supplanting primetime news programming is no market failure. It's a market triumph.
The horse carriage analogy is apropos.
Open statement to journos whining about how the market failed you: No. You failed your audience, and we left. Cry about it.
I didn't get into it, but the music industry went through its own shakeout as Napster and other filesharing disrupted its model. The market sorted that out.
Indeed it did - in spite of RIAA's ham-handed attempts to force a penitent customer base back into Sam Goody, credit card in hand, to purchase Reload as a complete album on Compact Disc the way God intended.