Lunch

Oh man I was so scared when I went to the lunch today. The topic of the discussion was “Journalism is Dead”. What the hell? When did it happen? So the discussion was among the old and new media. Finally the big boys of the town, NY Times, WSJ, Boston Globe and Daily Telegraph bosses save the journalism from dead by admitting that rules have changed and the paper is not the solution anymore.

They all believe that the online material will make more money and read by many more very shortly. But the quality of the material is very much linked to the brand names. They also believe “I know what's best for you” attitude is out the window. Reader is the source and ruler. Otherwise they will be left behind.

Some individual intellectuals insisted that they don’t need the big boys. But the room overcame the notion. As long as they will play by the new rules, they can stay in town.

One said that Wall Street expects %25 return on papers and more around %40 from TV companies. Damn, it is a lot cost cutting and expensive advertising. Big boys weren’t deterred either.

Someone raised the quality issue with tabloids. Please... Those are the only fun we have, leave them alone. NY Post loses $50 million a year, who cares...

I felt good afterwards. As long as WE keep blogging, we change the rules. I am not in favor of killing the journalism but I want them to come play with us. It will be more fun...