They’re jealous because technology is eating their lunch and drinking their milkshake.
I still remember being surprised at the response to the revelation of tech internship salaries last fall, a reminder that the relationship between tech journalists and many of the people they cover isn’t unlike that between sports writers and professional athletes, with the very important difference being that tech workers, nearly all of whom earn well into the six figures, don’t look any different.
And, of course, it is tech that has destroyed journalism’s business model, aggregating individual publications into fodder for Google and Facebook and offering only advertising networks predicated on further commoditizing content in return. Meanwhile, everyone talks about how Amazon doesn’t make money, but last quarter’s “accidental” $92 million profit was nearly 6x greater than the New York Times; revenue was 72x greater.
The article goes on to say that it’s good that the press publishes extremely biased pieces like the NYT exposé on Amazon. Tech companies have unprecedented power and influence and need someone to keep them in check.
The article is only available to paying members. Yes I actually pay for it. If you know how loath I am to pay for content, then you know how good stratechery must be. I feel a little guilty even posting this excerpt. I hope at least someone sees it and buys a subscription.