Both Matt Yglesias and Megan McCardle tackle the death of the newspaper today in their blogs. Their posts are well written and it's obvious from the number of comments that people have strong views on the old v new media argument.But for me the newspaper decline is emblematic of a broader old v new mentality, that has more to do with lazy v creative than young v aged.
Like the big autos, record companies and video stores, the newspapers have no one to blame but themselves. Instead of embracing and frontrunning the literally endless ways to monetize digital content the old guard did everything in their power to curtail it (Napster anyone?) and squeeze every cent out of their crusty b-models of yore. In the meantime Netflix, Apple and opportunistic bloggers were running right past them to the black.
What confounds me is HOW the old guard missed the boat so many times? Not to brag, but 6 years ago when the paradigm shifted from video cassette to DVD I recognized at 22 that a mail order model was no longer cost prohibitive and should be developed...by Blockbuster. But apparently they made too much money from late fees and didn't want to give that up...in other news today Blockbuster closed at $1.57, Netflix at $28.49. I guess Blockbuster.
Thomas Friedman had a great article over the weekend called "While Detroit Slept" you should check it out if you get some time. It deals with this old v new way of thinking and how the businessmen, entrepreneurs and creative individuals embracing 21st century technologies, cultures and methodologies are sure to run laps around the old guard...I'll see you at the finish line dude.
