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Merchants of Truth: The Business of News and the Fight for Facts
Free communication is not free. By decreasing the cost of information, we have decreased its value and invited its adulteration. To restore the health of our information ecosystem, we must understand the vulnerabilities of our overwhelmed minds and how the economics of information can be leveraged to protect us from being misled.
Scientific American • Information Overload Helps Fake News Spread, and Social Media Knows It
When people are paying with their own hard-earned nickels, there isn’t actually much of a market for ‘truth’ and both-sides objectivity. Nobody other than people whose livelihoods depend on it (e.g. Wall Street traders or industry insiders) are willing to pay for actual truthful news, which is why outlets like The Wall Street Journal and Bloomberg ... See more
Antonio Garcia Martinez • Advertising and Web3
Media on the incumbent web is in crisis. It turns out that paying publishers for clicks, endless loops of “content” and ads, all served on platforms far beyond their maximum-viable scale is ideal for misinformation, disinformation and the decay of trust.
Coindesk • A New Era of Media Begins With Tokenization
One argument is that pre-internet, journalists had a more reliable source of revenue, enabling them to do more investigative work, and the business model shift to online advertising meant they'd now have to produce popular pieces more frequently.
Erik Torenberg • How the Internet Ate Media
Think of the story of the death of truth as the story of two pernicious algorithms. One, unleashed by Section 230, allowed the social media platforms to recommend the content, however divisive or false, most likely to attract attention. The second set of algorithms are operated by what have become multibillion-dollar businesses you probably have ne
... See moreSteven Brill • The Death of Truth
The problem ‘akshually’ is that contemporary programmatic advertising is too efficient, and the ads sales people at The New York Times selling outrageously priced ads on a fixed, rate-card basis were selling media not really worth the cost (when measured at the level of precision the internet makes possible). Decades worth of such advertising mispr... See more
Antonio Garcia Martinez • Advertising and Web3
. Years ago, the idea that online life would be dominantly funded by advertising coalesced into conventional wisdom, and we’ve been living with the consequences ever since. The utopian assumption that views and clicks would accrue to the highest-quality content failed to understand a basic lurking reality - that the monetization of attention leads
... See more