The media has fallen into the well-known trap of optimizing the wrong KPI. You want to maximize trust with the public, not engagement, if you want your media company to survive if its value proposition is providing journalism and the usual benefits that come with a free press. Unfortunately, not only is engagement the wrong metric, but it's also one which incentivizes the undermining of the actual metric you need to…
I agree there is a huge opportunity for a trusted institution to do journalism. But who would anyone trust? The incentives in the media point towards pandering and outraging. Left to the shareholders a news organization is mandated to maximize short term profit in whatever way it can. So capitalism is out. Perhaps a benevolent billionaire could support such an effort? But again, who would trust him? Its a pikle.
What is the market size ?
Recently there was a debacle in India where a news channel corrupted the ratings system.
In the discussions that followed, it turns out that the news industry pays peanuts.
If there is no real market, and just passion projects and idealism- then what’s going on?
Matter of fact India is a good example of what happens. Small independent teams making good news content and the vast majority of the news corrupted into ratings farms.
There may not be any market here.