Jul 11 2007
A Perplexing Observation
Why people are addicted to junk news?
On the one hand, it becomes obvious that, if left to free market, the main stream media will sink even lower than it is today. On the other hand, the guarding angels of serious news are somehow incapable of building a profitable business.
This news story prompted this observation, “Brzezinski Makes Noise With Paris Stand“. Basically, a TV personnel, sickened by the dominance of the Paris Hilton story, decided to thred the newscript on the spot. Of course, she became an instant hero among her peers. Yet at the same time, the one show that devoted everything to the Hilton story–including paying her for the story, the Larry King Show, enjoyed trippling audience.
Another related story is the one Ken Auletta wrote on New Yorker, “Promises, Promises”. As persuasive as ever, Auletta made the case that Murdoch cannot be trusted: he will bring the Journal down, down and down.
Yet why the suddenly beloved Journal is in such a predicament? How come NYT or Washington Post has not bought this obvious “low-hanging fruit”? On the other hand, if one really cares about WSJ, the opportunity RM brings to the table is just too tempting to walk away from.
So what is wrong? Is there a model, with only a few exogenous variables, can explain why most people are inherently attracted to vulgarity AND the high-minded are inherently inept in turning knowledge into profit? I am dying to find out …