Print Media Revenue Collapse

A story about how the financial crisis of 2008 led to a massive disruption in print media revenue while tech platforms grew.

"After the financial crisis in 2008, print media dropped their revenue from about $65 billion down to $17 billion, while Google and Facebook were just going vertical. Craigslist was also a factor here - it wasn't just advertising, it was also classifieds that was a major factor. Craig Newmark effectively bought them off with the Newmark Foundation, giving lots of grants for journalism and data journalism.

The negative articles on tech and tech bros can be dated exactly to 2012-2013. There were even articles denying that such a thing as a programmer exists, and the same writer the next year started writing nasty articles about tech bros. It was a very crisp shift.

For the next several years, tech got its head caved in by media with the techlash. I warned against this because I could see it brewing like a seed investor in 2013. You could actually see the radicalization pipeline of these folks in real time. Their world was collapsing and they blamed it on tech. While it's true that economically a lot of revenue went to tech, tech didn't try to do it - Google, Facebook, and Twitter took away ads, but not just ads, they also took away influence."