When Silicon Valley Took Over Journalism

 

By Franklin Foer : theatlantic –  excerpt

The pursuit of digital readership broke the New Republic—and an entire industry.

Chris Hughes was a mythical savior—boyishly innocent, fantastically rich, intellectually curious, unexpectedly humble, and proudly idealistic.

My entire career at the New Republic had been spent dreaming of such a benefactor. For years, my colleagues and I had sputtered our way through the internet era, drifting from one ownership group to the next, each eager to save the magazine and its historic mission as the intellectual organ for hard-nosed liberalism. But these investors either lacked the resources to invest in our future or didn’t have quite enough faith to fully commit. The unending search for patronage exhausted me, and in 2010, I resigned as editor…

Over the past generation, journalism has been slowly swallowed. The ascendant media companies of our era don’t think of themselves as heirs to a great ink-stained tradition. Some like to compare themselves to technology firms. This redefinition isn’t just a bit of fashionable branding. As Silicon Valley has infiltrated the profession, journalism has come to unhealthily depend on the big tech companies, which now supply journalism with an enormous percentage of its audience—and, therefore, a big chunk of its revenue… (more)

A completely different view of the world, based on future expectations of where technology will take us, is unveiled as a major funding partner of Facebook pours his wealth into The New Republic. Having been interviewed by The Atlantic, I can speak from experience on how that movement feels. Both extremes, living in the past and living in the future are not getting most of us anywhere other than longing for a clear presence in the presence that is lacking in both.