Neither the Oligarchies nor Silicon Valley Will Fix Journalism

Anyone can sniff the stink of self-serving disintermediation disguised as social good. 

“THE DEFINITION OF INSANITY IS DOING THE SAME THING OVER AND OVER AGAIN, BUT EXPECTING DIFFERENT RESULTS.” 

If we are going to free the internet, we must work to ensure that the disintermediating platforms are not just focused on the short-term profit maximization. Unicorns are pretty, pots of gold at the end of the quarter are useful, but value extraction economics won’t get us out of this mess:

Read in Slideshare: Journalism in Crisis

In the next few years, technology will unleash cryptocurrency micropayments, better privacy, and more transparency. Startups and public, for-profit corporations should explore these advancements and innovate. Added value products and services will deliver business growth. 

And yet, “commercial journalism and the media industry in the Western world is in the middle of a tsunami,” and the perceived value of facts has sunk to an all-time low. “Social media has swallowed the news,” and democracy is increasingly at risk. 

Working to design business models that sustain independent journalism and media is a matter of public interest. Deciding how to structure and fund a venture in this space will make or break the potential social impact of technological innovation. Software won’t save journalism; humans may.

The most bulletproof business model is one that cannot be disintermediated, the one that invests earned funds into more value for the ecosystem. 

Is the ecosystem smart enough to invest in its own survival? Let’s find out.