Just under six years ago an unconventional news website called The Huffington Post was launched in the US. Yesterday it was sold for $US315 million.
In those same six years the Fairfax Media group, a far from unconventional Australian newspaper publisher once recognised as the home of fine journalism, has churned through four chief executives — including a new one appointed yesterday — as its share price has fallen about 70%.
Throughout those six years the Fairfax board has consistently expressed its bullish confidence in the company, its strategy, its journalism and in the acuity of its chief executive. It was doing it again yesterday, using the same fine words and sentiments.
We all know that media and journalism is undergoing seismic and seminal change. But if the past six years at Fairfax and HuffPo demonstrate one thing, it is that buzzwords can’t and won’t save old media companies in the eye of the storm.
Dr Harvey M Tarvydas
Well said Crikey.
Buzz words are just good for buzz (as they say themselves) and not for much else if nothing substantial stands alongside propping up the buzz words.
Mind you there is a lot more serious stuff to say about the example you give and its all about the effect of future tech and science (IT) on the world we know.
I have a medical technology unable to save many from dying right now but the powerful luddites of ‘medicine’ want to keep medicine as it is, suiting them, feeling no guilt for needless (not according to them) death of many of their patients.
It is not easy to change fundamental positions or methods no mater how obvious or valuable the change clearly promises to be even when the ‘promise’ is exemplified by Huff or my patients who attest to being saved when the best experts were saying ‘goodbye’.
Dr Harvey M Tarvydas very necessary correction
Well said Crikey.
Buzz words are just good for buzz (as they say themselves) and not for much else if nothing substantial stands alongside propping up the buzz words.
Mind you there is a lot more serious stuff to say about the example you give and its all about the effect of future tech and science (IT) on the world we know.
I have a medical technology unable to save many from dying right now BECAUSE the powerful luddites of ‘medicine’ want to keep medicine as it is, suiting them, feeling no guilt for needless (not according to them) death of many of their patients.
It is not easy to change fundamental positions or methods no mater how obvious or valuable the change clearly promises to be even when the ‘promise’ is exemplified by Huff or my patients who attest to being saved when the best experts were saying ‘goodbye’