The newspapers are doomed, part CXXVIII
Penelope Trunk offers another reason why old media is doomed:
So we don’t need stupid rules about conflict of interest for people who are putting themselves on the line. That rule is for old media, where writers were putting only the brand of the newspaper on the line. In old media most journalists were no-names, writing under big (newspaper) names. So if they wrote something moronic, so that they could increase the value of a stock they held, or, maybe, get more oral sex, they would put only the newspaper brand at risk. Not their own.
Which means that the arcane conflict of interest rules are to protect the newspaper, not the readers. And this, by the way, is why newspapers are going down: because they are more about themselves, and their hierarchies, and rules and structures, than they are about what their readers want. Readers should not care about the business dealings of the writers or their publishers. Readers just want good content.