Why Is The News Business So Terrible?

“A collage of iconic news industry brands and related imagery like newspapers, radios, televisions, and web pages in a dumpster, on fire, digital art”

It’s been nothing but bad news for “the news” lately, and this week piled on two more depressing headlines: Gallup released a poll showing American confidence in the validity of mainstream news media is at an all time low, and The New York Times filed a trend piece noting that Silicon Valley companies, once a font of traffic for journalistic enterprise, are “ditching” news sites. Turns out that with link taxes, content moderation nightmares, advertising blacklists, and consumer fatigue, “news” is just more trouble than its worth for our modern attention merchants. Even Threads, Meta’s Twitter competitor, has decided to downplay the role of current events on its platform.

For those of us in who’ve been in the news business for more than a minute, this story ranks as a classic “dog bites man” story. The Times‘ piece turns on the news that Meta’s point person for news, Campbell Brown, is leaving the company. But anyone who’s worked with Brown over the past few years was already in on the joke. Brown was hired in 2017 to put a familiar face on Facebook’s tumultuous relationship with the press. Back in early 2019, when we were just starting The Recount, she was refreshingly direct with me when I asked if I should invest in a relationship with Facebook. In short, the answer was no.

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At Threads, No News Is Good News, For Now. But That’s About To Change.

Threads is a week old today, and in those short seven days, the service has lapped generative AI as the favorite tech story of the mainstream press. And why not? Threads has managed to scale past 100 million users in just five days — far faster than ChatGPT, which broke TikTok’s record just a few months ago. That’s certainly news — and news is what drives the press, after all.

Threads has re-established Meta as a hero in tech’s endless narrative of good and evil — I can’t count the number of posts I’ve seen from influential public figures joking that, thanks to Threads, they actually like Mark Zuckerberg again. And Meta can certainly relish this win — the company has been the scapegoat for the entire tech industry for the better part of a decade.

But were I an executive at Meta responsible for Threads, I’d not be sleeping that well right about now. As they well know, the relationship between the tech industry and the press can shift in an instant. Glowing stories about breaking app download records can just as quickly become hit pieces about how Meta has leveraged its monopoly position in social media to vanquish yet another market, killing free speech and “real news” along the way. So far that story has been confined to the fringes of Elon’s bitter troll army over on whatever remains of Twitter these days, but should Threads lap Twitter as the largest app focused on creating a “public square” — whatever that means — the worm will quickly turn.

Meta has a tiger by the tail here, and so far, they’ve been working hard to tamp down expectations. Both Zuckerberg and Instagram CEO Adam Mosseri have been active on Threads, posting daily with both practiced humility (“gosh this thing is succeeding well beyond our expectations,” “we’re just at the starting line,” “we know we’re over our skis”) and reminders about how Threads isn’t like Twitter. Mosseri, for example, has downplayed the role of news — Twitter’s main differentiation and its endlessly maddening Achilles hell; Zuckerberg’s first Thread defined his new service as “an open and friendly public space” — prompting Musk to fire back that he’d rather be “attacked by strangers on Twitter” than live in “hide the pain” world of Instagram.

But The News — with all of its complications — is coming for Threads. I left Twitter more than six months ago, and while I sometimes missed feeling connected to the real time neural net the app had become for me, I almost instantly felt better about both myself and the world. Living on Twitter means navigating an unceasing firehose of toxicity, and Musk’s interventions only worsened the poisonous atmosphere of the place. I joined Threads a half hour after it launched, and indeed, it was a giddy place, its initial users basking in the app’s surprising lack of toxicity.

Other journalists have noticed the same thing. For now, the narrative around Threads centers on its extraordinary growth, but a close second is how “nice” the place feels compared to Twitter. Meta executives would like to keep it that way — combining “what Instagram does best” with “a friendly place for public conversation,” as Zuck put it in his first post.

To that fantasy, I say good luck to you, Mr. Zuckerberg. Keeping Threads “nice” means controlling the conversation in ways that are sure to antagonize just about everyone. No company — not Facebook, not Instagram, not Reddit, and certainly not Twitter, has figured out content moderation at scale. If, as Zuckerberg claimed, the goal with Threads is to create a “town square with more than 1 billion people,” the center of that square will have to contain news. And news, I can tell you from very personal experience, is the front door to a household full of humans screaming at each other.

“Politics and hard news are inevitably going to show up on Threads,” Mosseri told the Hard Fork podcast last week, “But we’re not going to do anything to encourage those verticals.”

I’ll have more to say about that sentiment in another post, but for now, I’ll leave it at this: When Threads hits 300 million active users — roughly the size of Twitter — the love affair between the press and Threads will more than likely come to an end.

I’ll be talking to Meta’s head of advertising Nicola Mendelsohn at P&G Signal tomorrow. You can register here for free.

You can follow whatever I’m doing next by signing up for my site newsletter here. Thanks for reading.

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Yeah, That’s Why BuzzFeed News Failed.

I’ll see if, in a few minutes, I can get at least the outlines of a rant out. I’ve got to get to an appointment in half an hour, but I just saw today’s Dealbook newsletter, which focuses on the demise of BuzzFeed News. “Why BuzzFeed News folded” it promises, then goes on to willfully fail to answer the question – in much the same fashion every other story has noted the latest catastrophe in what used to be called “the news business” these days.

Buzzfeed “failed to go public well,” it “didn’t focus on profitability” soon enough, it “depended on social networks too much.” That’s like analyzing an open wound by stating “it’s bleeding too much” and “the skin was too ruptured” and “the band aid failed to stay on.” True, but wrong.

Only when we are willing to acknowledge the cause of the wounds will we start to address them. And right now, it’s as if the very same journalists whose professions are imperiled can’t see the damn forest for the trees.

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TikTok Promises to Fix TikTok With…What Exactly?

Today let’s think out loud about TikTok, perhaps the most vexing and fascinating expression of Big Tech power since Google in the early 2000s. I’ve written about TikTok several times, and today’s news, from the Wall Street Journal, raises fresh questions that feel under-appreciated.

First, the background. As most of you likely know, TikTok is owned by a large Chinese company called ByteDance. In less than five years, TikTok has hijacked the very heart of Big Tech’s consumer business in the United States – our attention. Nearly 100 million US consumers will spend an average of more than 90 mins a day watching TikTok this year. That’s time that Google, Facebook, Instagram, Twitter, and every other consumer tech and media company can’t get back. Here’s Scott Galloway’s visualization of the trend, from a piece last Fall:

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Has Innovation Died in Marketing?

 

Caveat: This will likely be one of my longish, link-heavy Thinking Out Loud pieces, so I invite you all to pour yourselves a glass of your favorite adult beverage or rustle up a fine cannabis pairing, should you care to indulge…

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An Open Letter To American Corporations: It’s Good Business (and Smart Marketing) To Support Quality Journalism

Brands and journalism need each other.

“Outbreaks have sparked riots and propelled public-health innovations, prefigured revolutions and redrawn maps.” The New Yorker, April 2020

“Nothing will be the same.” 

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Else 3.10.13: Satoshi, Snowden, Google, And The Meaning of it All

nweekbitcoincover

The past week spun with controversy and breaking news around many of our society’s most interesting conversations: The elusive founder of bitcoin was identified, or perhaps not, Edward Snowden popped up at SXSW (by video, of course) and submitted testimony to the EU, the Aereo case is on its way to the Supreme Court (and launched in Austin at SXSW, of course), and in the end, we all long for something more. To the links….

The Face Behind Bitcoin – Newsweek The week’s most sensational story, which created a backlash worthy of the story’s claim.

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