Proofs of concept for a keiretsu-cooperative to succeed the data collection and ad-dependent legacy publishing model— from TikTok, the online Daily Mail … and Shakespeare

By becoming a shareholder in an acting and theatre-owning joint-stock company, Shakespeare — a ‘country boy’ outsider — ‘was the first to turn playmaking into a potentially rewarding profession’ — Soul of the Age: A Biography of the Mind of William Shakespeare, Jonathan Bate

A live scroll of 3,700 readers’ comments on U.K. taxation and a comment invitation box on the 6 March home page of the online Daily Mail look like illustrations for William Dutton’s The Fifth Estate: The Power Shift of the Digital Age

Real-life counterparts of conceptions of things to come can appear in unlikely places, including some in the past. 

But, you may say — surely not the online Daily Mail coupled to the Chinese user-videos-plus-shopping platform, TikTok? Yes, and yes. But also from, of all people, the supreme William Shakespeare — or what literary experts and historians searching for the indisputable facts about his life have unearthed in recent decades. 

This improbable group answers the question of what evidence there is for the practicality of a keiretsu-cooperative to succeed the noxious advertising and personal data collection-dependent  surveillance business model for journalism and publishing. 

Though legacy media’s need for an innovative financing scheme and structure has proceeded from dire to desperate, this has somehow gone unmentioned in 2024’s mournful stream of reports about the decimation of employment in the news business. 

In noting that over five hundred jobs in U.S. print, broadcast and digital media fell to cost-cutters’ axes in January, Politico said that this followed layoffs of 3,087 in the same categories in 2023 and 2020’s high watermark of 16,060. A 5 March reminder in the Financial Times of 450 journalists losing their jobs in Britain’s dominant Reach publishing conglomerate last year — because of an advertising slump linked to a steep slide in its newspapers’ online reader numbers — was not accompanied by any discussion or speculation about ways to stop or reverse the trend. Legacy publishers exhibit no outward signs of interest in remedies except for tried and tired variations of subscription terms or experiments in taking paywalls up or down to limit what visitors to their sites can read. 

The New Year’s Day post here drew attention to the lone, faint glimmer in this doom-saturated panorama: old media managers do at last understand that reader-commenters are poised to become the core of their economic survival plans — the same people at the heart of the keiretsu-cooperative

These are the visitors — effectively, informal, indie micro-publishers — luring and engaging site traffic who in 2010 were still commonly referred to as ‘bloggers’. January’s  p-G jottings about them recorded that the business brains at some newspapers have begun to treat reader-commenters’ reactions and other ‘content’ like gold dust. As a result, some of them have begun — shamefully — to slap copyright claims with no legal justification onto those contributions from audience members, including many who are handing over cash as site subscribers.

How long is it going to take before most of them understand all the transformations underway sufficiently to see that reader-commenters are well on their way to morphing into: 

— CONVERSATION PARTNERS ON EQUAL TERMS 

or ‘interactive’ audiences who are no longer mere receivers for broadcasts by newspaper reporters and opinion writers. On 6 March, anyone popping in at the online Daily Mail would have noticed an apparent experiment — placing at the centre of its home page a blank commenting box inviting readers to have their say on the U.K. government’s spring taxation and budget announcement. 

This invitation was set in a screen within a screen with a moving scroll of other readers’ thoughts on the topic (see screenshot above, taken when the comment count had reached 3,700). 

The overall impression was of a live demo of William Dutton’s portrayals in The Fifth Estate (2023) of ‘networked individuals’ becoming powerful as ‘a new source of accountability, not only in government and politics but also in all sectors of society.’

— CO-PERFORMERS 

The online Daily Mail is the world’s fifth most-popular English language news title. It also magnetises more visitors to TikTok than any other purveyor of news on this Chinese-owned (ByteDance) social media platform where anyone can upload short videos they have made; earn cash from advertisers through product placements and promotions if they can lure enough traffic; and buy things hawked to them.

Publishing for people catching up on news where they go for relief from boredom, to play amateur auteur or entrepreneur, or to risk becoming shopaholics looks unavoidably like the future of journalism — because these people are disproportionately the youngest adults. 

In a mid-January feather-fluffing announcement, the Daily Mail Online claimed to have ‘surpassed 10 million followers’ on TikTok (estimated by backlinko.com, to have soared beyond X-Twitter, Telegram, Reddit, Pinterest and Snapchat in platform popularity measured by ‘monthly active users.’) 

The paper summed up its TikTok triumph as icing on the cake for its ‘unrivalled position as no.1 for engagement with audiences across all platforms.’ It explained that ‘[a]ccording to research by the Reuters Institute for the Study of Journalism, 20 per cent of 18-24s use TikTok to learn about current events, which was an increase of five percentage points from the previous year.’ A follow-up story in February quoted other research ‘showing that more than 40 per cent of 18-24s receive news from the Chinese-owned social media giant once or more times a day, compared with 19 per cent for the BBC, Instagram (44 per cent), Facebook (33 per cent) and Elon Musk‘s X (24 per cent), formerly known as Twitter.’

Luck being what luck is, my 2010 outline of a scheme for post-Gutenberg publishing, six years before the birth of TikTok, began:

New communication technologies have created a karaoke world. It is not just that we have the means to ensure, cheaply and easily, that—as Andy Warhol predicted— everyone could be world-famous for fifteen minutes … Practically nobody is content any more to be just a spectator, reader, passive listener or viewer. Audience participation as well as the right to talk back—which includes non-expert reviewing of works or performances by trained and seasoned professionals—have become absolutely standard expectations. 

— STAKEHOLDERS AND CO-DETERMINISTS

Few card-carrying cultural elitists inclined to shrug loftily about TikTokers earning cash from homespun, unmediated webcasting — making them de facto stakeholders in the platform’s success — will know that without the democratisation of culture in his own revolutionary epoch, we would never have heard of William Shakespeare. That man of mystery incommensurably more gifted than any other literary genius — forget TikTokers — has emerged from recent literary and historical sleuthing not as the aristocrat lurking behind a pseudonym in the centuries-old rumour, but incontestably a ‘country boy.’ 

He was ‘the grandson of a yeoman farmer and the son of a failed provincial shopkeeper,’ in his portrait by today’s pre-eminent Shakespearean scholar, Jonathan Bate, in Soul of the Age: A Biography of the Mind of William Shakespeare (2009). He got his start in playwriting by polishing the scripts of other writers while enduring mockery as ‘an upstart crow,’ a ‘rude groom,’ and a ‘peasant.’

But this book’s most unexpected revelation, for many, will be about Shakespeare’s business acumen, an asset as rare in writers then as it is now. He died a prosperous landowner at fifty-two, leaving his wife and the children he had fathered before his twenty-first birthday well provided for from his earnings as a shareholder in an acting company that operated very like a cross between an artists’ collective and a cooperative venture in our time.

Through becoming a shareholder, Shakespeare was the first to turn play-making into a potentially rewarding profession that could support a marriage and a family. His fortune was made not by a literary innovation but by a business decision. In his early career, Shakespeare would have noted the raw deal suffered by the script writers, who were paid only a few pounds per play. The serious money was made by manager Henslowe and lead actor Alleyn, who ran the Rose Theatre as an entrepreneurial partnership. Shakespeare and his close associates came up with an alternative arrangement: the Lord Chamberlain’s Men was formed in 1594 as a joint-stock company, with the profits shared among the players.

What could have been the equivalent of reader-commenter power for Shakespearean audiences? 

The 20th-century historian John Hale has shown that unlike the ‘patron-fostered painters of Italy, the Low Countries and Germany,’ the Bard ‘was reliant on popular support, as were his fellow playwrights.’ Their works and the venues for their performances were part of a democratically inclined ‘theatrical machinery that both responded to and increased the number of spectators and dramatists.’ Another impression from reading The Civilization of Europe in the Renaissance is  of how uncannily today’s social media frenzy resembles the explosion in early 17th-century mass entertainment in London:

During the boom period of new plays, 1600-10 … the places available each year in the commercial theatre, discounting Sundays and Lent, may have topped a staggering two million when the population of London was two hundred and fifty thousand. Never before in Europe had there been so heavy a vote of confidence in a single form of cultural activity.

In another prefiguring of the present, Civilization shows the joys of expanding free expression for playwrights soon proving to be too much for the authorities:

Altogether the appetite for theatrical dialogue and effects was so constant as to enable a playwright to indulge his own aspirations short of flagrantly inviting political and religious censorship; bawdiness was let slip with a shrug, a contributory reason for the Puritan criticism which led eventually, in 1642, to the order that the theatres should be closed altogether, an order honoured almost as much in the breach as in the observance.

Some of the Puritans especially disgusted by their inability to control this tide in public affairs presumably let a different one carry them away to found a new colony on the other side of the sea. But here we are now, being reminded that the most satisfying narrative arcs can turn out to be circles. 

The keiretsu-cooperative seems to rhyme naturally with what has gone before, not just with what will or should be.

Mystery solved? Famous newspapers that ignored the Social Media Strike of 2019 have agreed to accept regular payments of millions of dollars from Facebook

 

peony, darkening of the light -- postgutenberg@gmail.com

The picture is darkening for those like the world wide web’s inventor, Tim Berners-Lee, who ‘remain committed to making sure the web is a free, open, creative space — for everyone.’

[ Significant sections of this post-Gutenberg.com entry were edited for clarity on 2 November 2019 ]

The question of why so many famous newspapers railing against Big Tech failed to alert their readers to the Social Media Strike of 2019 — or report on it — has been answered partially, since the last post on this site.  That answer could hardly be more depressing for anyone to whom free speech and objective, independent, media matter.  Worse, it brings us closer to a real life equivalent of a dictator or other centralised authoritarian power running amok — that is, to the fictional world of Nineteen Eighty-Four.

On Friday 25 October, Facebook announced that it will be paying millions of dollars to selected U.S. newspapers — the likes of The New York Times and Washington Post among them — for posting their stories (content) on its site.

According to an early August report in The Guardian that came up in search results for the query, ‘Facebook paying newspapers’ — following the accidental discovery of this news on the Wired site  — the company started hawking its offer of million-dollar-plus subsidies experimentally, in April. Could publishing organisations trying to decide whether they should accept one have failed to cover the Social Media Strike set for  4-5 July for that reason?

It certainly looks like a strong possibility, even if different considerations were at work for each publication. The Guardian, for instance, might not have been approached by Facebook, even though it has a U.S. website. The explanation for its dissing of the strike could have been that the call to action was led by Larry Sanger, one of the Wikipedia’s two long-estranged co-founders. The other, Jimmy Wales, has been a member of the newspaper’s parent company, Guardian Media Group, since at least 2018.

Wired has already demonstrated that taking Facebook’s cash does not necessarily — or immediately — deprive a publication of the ability to balance its reporting about that platform. Its article on the subject quoted an activist working on behalf of traditional newspapers who described the Facebook move as ‘a “conveniently timed announcement that’s clearly meant to distract from Zuckerberg getting eviscerated on the Hill this week”’ — a reference to the founder-CEO’s grilling by members of the U.S. House of Representatives financial services committee in Washington DC.

Yet, because the magazine did not spurn Facebook, Wired’s overall characterisation of the corporation’s new sugar daddy role in the lives of newspapers must be interpreted as favourable — in keeping with one quotation in its report, about the cash infusions ‘having the potential to shift parts of the news industry from “pessimism to optimism”’. [ pG’s emphasis ]

Facebook is only giving some newspapers money, in a scheme it is still unfurling, effectively playing king-maker. Is it naïve to expect that in the future, the newspapers that have until now been exposing the social media colossus’s worst business practices — and demanding that it be made accountable to the public for those actions — will start competing to win favour from it? 

How can these papers possibly cover it objectively when they are vying for larger cash handouts from it? It is hard not to imagine past leaders of newspapers proud of a tradition of reporting ‘without fear or favour’ turning in their graves.

In the U.K. and U.S., newspaper campaigns against Facebook’s data-stealing and privacy violations, among other offences, have been vital prods for MPs and legislators now investigating the need for closer government oversight, if not regulation, of Big Tech. 

If traditional media’s interests become less and less distinguishable from the social media giant’s and they can no longer act as a check on its actions and powers, what happens next? Who in the traditional Establishment could we count on to oppose a deadly merging of government and commerce — by, say, a government trying to invoke emergency powers to requisition Big Tech’s vast and ever-expanding stores of data about us? Invoke those powers illegitimately? And how could that fail to turn some of George Orwell’s nightmare visions into everyday reality? 

The progressive centralisation of media financing and power, and of data collection about ordinary citizens, raises the risk of an authoritarian central force seizing control. It could make that a cakewalk. (The newly created Big Brother would not necessarily be domestic: it could easily be a hostile foreign government.)

Newspapers that have consented to taking Facebook’s coin should reverse their decision immediately — but are unlikely to do anything of the kind. By far the most thoughtful and intelligent reaction to the novel scheme came from a writer or writers on the Techdirt website in Redwood City, in the northern half of Silicon Valley. Crisply written, and with a critical historical perspective missing from every other commentary on that subject, Techdirt‘s take on the topic is essential reading. Its conclusion is in perfect harmony with pG’s (see ‘Wanted: a brave newspaper, for an experiment in which readers become stakeholders ( updated )’:

If we want to “fix” journalism, it will require a new path forward (i.e., innovative business models).

Accepting Facebook’s Trojan horse handouts would not be the right sort of innovation or improvement on the defective business model most widely used today. Here is (Sir) Tim Berners-Lee, the father of the world wide web, lamenting the effects of that model on his brainchild’s evolution, after its open and liberating early years:

The web that many connected to years ago is not what new users will find today. What was once a rich selection of blogs and websites has been compressed under the powerful weight of a few dominant platforms. This concentration of power creates a new set of gatekeepers, allowing a handful of platforms to control which ideas and opinions are seen and shared.

These dominant platforms are able to lock in their position by creating barriers for competitors.

[…]

Two myths currently limit our collective imagination: the myth that advertising is the only possible business model for online companies, and the myth that it’s too late to change the way platforms operate. On both points, we need to be a little more creative.

A year ago, Facebook acquired a key to opening doors to high government offices everywhere when it hired Nick (Sir Nicholas) Clegg — Britain’s deputy prime minister from 2010-15 —  to serve as its head of global policy and communications. As the company’s capacious pockets are used to favour some venerable, still dominant old media powers not just with gifts of cash but — presumably — special treatment on its platform, old and new media seem well on their way to creating an even more unassailable Establishment.  This could make a U-turn towards decentralising power ever more difficult and probably, impossible. 

peony , darkening of the light, square -- postgutenberg@gmail.com

 

Time-travelling email to Tolstoy re: reminders, in the transition to post-print publishing, of you emancipating your serfs in 19th-century Russia

Manuscript pages of revolutionary, democratically-minded aristocrats: Tolstoy’s fourth draft of Anna Karenina (above); De Tocqueville’s Democracy in America (below)

Manuscript pages of revolutionary, democratically-minded aristocrats: Tolstoy’s fourth draft of Anna Karenina (above); De Tocqueville’s Democracy in America (below)

tocqueville-manuscript-page-democracy-in-america

Zdrastvooytye Leo!

(Privyet! seems too much like hi for such a distinguished stranger)

You’ve had a century and a half to think about founding 13 schools for educating the children of peasants working on your estate, Yasnaia Poliana, in the 1870s, and your enthusiastic marrying of new agricultural technology to your attempts to share land-ownership with your serfs. You understood, as few of your fellow-aristocrats did, the late ripples through Russia of the implications of printing’s invention — that Tsar Alexander II’s orders for the emancipation of the serfs were part of what Michael Lynch has described as ‘a programme that included legal and administrative reform and the extension of press and university freedoms.’

Another aristocrat, Alexis de Tocqueville, who — a few decades earlier — had educated his French countrymen about the inevitability of the spread of American democracy to the rest of the world, would have said that you were a fine example of his belief that …

… almost all the democratic convulsions which have agitated the world have been directed by nobles.

A most interesting idea, that. What advice do you have for editors and media captains floundering, like so many, in this post-Gutenberg transition? If only time travel, for you — not just your thoughts — were possible, you might speak on the subject at a TED conference that the rest of us could watch on YouTube. We were reminded of your revolutionary ardour by chance, in re-reading and listening to an audio-recording of Anna Karenina — about which practically no non-expert thinks, in reflecting on agricultural reform.

Let us say, frankly, that although we could have no quarrel with Virginia Woolf’s pigeonholing of you as the greatest great novelist, virtually the estimations also of Joyce, Mann, Proust, Faulkner and Nabokov (according to the Wikipedia), you are not one of our favourite writers. We have always found your stories almost peerlessly depressing: there is often delicious humour in them, yes, but not nearly enough — as much as in, say, the work of your hero, Charles Dickens. Certainly in English translations of your work, there is no leavening by evocative passages — as by the class of writers we called magician-scribes in a post here last month. You deliberately wrote as plainly as possible, with powerful descriptions of people and keen psychological perception, but with almost no sense of place; no ability to conjure you-are-here sensations. Surviving the horror of the truth about life is intolerable without some poetry in prose.

But your cold rolled realism, and your deep anti-romanticism, make you an ideal reporter on the obstacles to democratisation. We smiled in recognition at the passages in Anna Karenina in which you describe the struggles of Levin — standing in for yourself, in your story — to convince the change-resistant peasants tied to his family’s estate by Russian tradition about 200 years old, then, that the changes he was bent on introducing reflected his heart-felt good intentions for them. What did we recognise? The suspicion and resistance to change are so like the reactions to attempts at reform in the digital revolution in publishing — recently noted by us in a Q&A post and in one other, doing our bit to keep the historical record straight.

Beneath our signature, we will post extracts to show what we mean. Of course it is ironic — not to mention tragic — that the clever peasants’ mistrustful and cynical reactions to the new system were partly justified by events elsewhere in Russia. Michael Lynch has shown how the reforms meant to liberate them were subverted by the landowners

But! Eventually, as everyone knows, one of the world’s most famous revolutions corrected all that — in 1917 — and proved that there was no turning back of the democratic tide. This is surely the thought that media editors and proprietors need to keep at the front of their minds.

Yours in hope,

pG

… Levin continued the conversation with the gray-whiskered landowner, […who …] stuck to it that the Russian peasant is a swine and likes swinishness, and that to get him out of his swinishness one must have authority, and there is none; one must have the stick, and we have become so liberal that we have all of a sudden replaced the stick that served us for a thousand years by lawyers and model prisons, where the worthless, stinking peasant is fed on good soup and has a fixed allowance of cubic feet of air.

[…] The carrying out of Levin’s plan presented many difficulties; but he struggled on, doing his utmost, and attained a result which, though not what he desired, was enough to enable him, without self-deception, to believe that the attempt was worth the trouble. One of the chief difficulties was that the process of cultivating the land was in full swing, that it was impossible to stop everything and begin it all again from the beginning, and the machine had to be mended while in motion.

[…] As for the proposal made by Levin—to take a part as shareholder with his labourers in each agricultural undertaking … On beginning to talk to the peasants about it, and making a proposition to cede them the land on new terms, he came into collision with the same great difficulty that they were so much absorbed by the current work of the day, that they had not time to consider the advantages and disadvantages of the proposed scheme.

[…] Another difficulty lay in the invincible disbelief of the peasant that a landowner’s object could be anything else than a desire to squeeze all he could out of them. They were firmly convinced that his real aim (whatever he might say to them) would always be in what he did not say to them. And they themselves, in giving their opinion, said a great deal but never said what was their real object. Moreover (Levin felt that the irascible landowner had been right) the peasants made their first and unalterable condition of any agreement whatever that they should not be forced to any new methods of tillage of any kind, nor to use new implements. They agreed that the modern plough ploughed better, that the scarifier did the work more quickly, but they found thousands of reasons that made it out of the question for them to use either of them; and though he had accepted the conviction that he would have to lower the standard of cultivation, he felt sorry to give up improved methods, the advantages of which were so obvious. But in spite of all these difficulties he got his way, and by autumn the system was working, or at least so it seemed to him.

[…] A distant part of the estate, a tract of waste land that had lain fallow for eight years, was with the help of the clever carpenter, Fyodor Ryezunov, taken by six families of peasants on new conditions of partnership, and the peasant Shuraev took the management of all the vegetable gardens on the same terms. The remainder of the land was still worked on the old system, but these three associated partnerships were the first step to a new organization of the whole, and they completely took up Levin’s time.

It is true that in the cattle-yard things went no better than before, and Ivan strenuously opposed warm housing for the cows and butter made of fresh cream, affirming that cows require less food if kept cold, and that butter is more profitable made from sour cream, and he asked for wages just as under the old system, and took not the slightest interest in the fact that the money he received was not wages but an advance out of his future share in the profits.

It is true that Fyodor Ryezunov’s company did not plough over the ground twice before sowing, as had been agreed, justifying themselves on the plea that the time was too short. It is true that the peasants of the same company, though they had agreed to work the land on new conditions, always spoke of the land, not as held in partnership, but as rented for half the crop, and more than once the peasants and Ryezunov himself said to Levin, “If you would take a rent for the land, it would save you trouble, and we should be more free.” Moreover the same peasants kept putting off, on various excuses, the building of a cattleyard and barn on the land as agreed upon, and delayed doing it till the winter.

[…] Often, too, talking to the peasants and explaining to them all the advantages of the plan, Levin felt that the peasants heard nothing but the sound of his voice, and were firmly resolved, whatever he might say, not to let themselves be taken in.

[…] But in spite of all this Levin thought the system worked, and that by keeping accounts strictly and insisting on his own way, he would prove to them in the future the advantages of the arrangement, and then the system would go of itself.

… At the end of September the timber had been carted for building the cattleyard on the land that had been allocated to the association of peasants, and the butter from the cows was sold and the profits divided. In practice the system worked capitally, or, at least, so it seemed to Levin. In order to work out the whole subject theoretically, … all that was left to do was to make a tour abroad, …

Fiddling with the true record of newspapers’ post-print struggles robs our first drafts of history of crucial lessons for media

Three editors: Lionel Barber of The Financial Times interviews http://video.ft.com/5113031401001/Lionel-Barber-discusses-future-of-media/Life-And-Arts Alan Rusbridger, who led The Guardian for 20 years, and Zanny Minton Beddoes{{{CK SP}}}} of The Economist. The dark shape racing towards them looks like the chiefly Facebook-shaped digital juggernaut they are discussing with commendable calm.

Lionel Barber (left) of The Financial Times interviews Alan Rusbridger (right), who led The Guardian for 20 years, and Zanny Minton Beddoes (centre) of The Economist. The sinister dark mass behind them could be the Facebook-shaped digital juggernaut they are discussing with commendable calm.

In the outline of his unfinished manuscript about the difficulties of constructing accurate history — partly scratched out as a prisoner of Germany in 1940-4 — the French historian and Résistance operative Marc Bloch wrote [ the italics are his, in all cases ] :

VI. EXPLANATION IN HISTORY

By way of introduction: the generation of skeptics (and scientists)

1. The idea of cause. The destruction of cause and of motive (the unconscious) [ … ]

2. The idea of chance.

3. The problem of the individual and his differential value. [ … ]

4. The problem of ‘determinant’ acts or facts.

Apologie pour l’Histoire, ou Metier d’Historien, 1949 [ a posthumous work published in English in 1954 as The Historian’s Craft ]

All three versions of his manuscript ended with these words: ‘In history, as elsewhere, the causes cannot be assumed. They are to be looked for …’. If he were extending those notes today, we would propose:

5. The problem of the sound byte and tiny attention spans.

Explanations shrunk to sound bytes can wreak havoc with historical truth. That would account for the hair-raising contrast between our analysis — two posts ago — of why The Guardian’s economic model of giving everyone free access to its website is unsustainable, and the answer to virtually the same question by the architect of its strategy, Alan Rusbridger. That prospective revolution failed because it was halted halfway, as if lacking the courage of the convictions that got it rolling — including the editor’s enthusiasm for the advent of ‘participatory journalism’. But he and his managerial colleagues did not go far enough. For old media in transition, free access can only make economic sense — some day — in combination with building in some version of the audience participation or collaboration that defines social media. Recently, the post-Rusbridger Guardian made a stunning turn in the wrong direction. As we noted on this blog last month, relying on the accuracy of a report by Private Eye, the paper’s present leaders decided — unbelievably — against allowing its new class of readers paying £5 a month for ‘membership’ privileges to elect a representative on the paper’s governing board, the Scott Trust. (‘Readers’ Knives,’ Private Eye No: 1422, 8-21 July, 2016)

You would glean none of that from Rusbridger’s reply in an interview with the editor of The Financial Times — at this newspaper’s first ‘live’ festival in London earlier this month — to a question about the explosion in readership after the launch of his content-is-free business model:

Lionel Barber: Under your editorship The Guardian became incredibly successful in terms of developing a global audience. You went from 300,000 in the UK to literally millions. Can you make money out of that audience?

Alan Rusbridger: Well, the answer to that changes from year to year. At the time I left, we were just about managing sustainability and then everything changed — not through anybody’s fault. Except that Facebook came along and this behemoth started taking 85 cents out of every dollar in terms of the advertising revenues that came in. And that’s a completely changed environment. There’s no point whingeing about it, it’s a brilliant company. Google’s a brilliant company. But it does mean you have to adapt your business model not only in light of things that may change from year to year but from month to month.

The facts called for giving the FT editor a different sound byte altogether. But that would have put the former Guardian chief, who stepped down last year, in the awkward position of criticising his change-resistant former colleagues for their inability to understand, as he did, digital technology’s inversion of the pyramid they were used to — with journalists at the top and their audience members squeezed together, powerlessly, at its base. He could have given a colourful, entertaining account of, for instance, the shattered egos of senior journalists and columnists subjected for the first time to criticism by readers in comments sections — and to competition from blogs. Instead, he expressed himself eloquently on the perceptions that made him a Moses who lost most of his followers, because they lacked any glimmer about the Promised Land to which he was trying to lead them:

I felt that my job was to try and understand the technology, not because it was technology but because it signified a completely different social shift. It was the biggest thing since Gutenberg — not the technology of printing but the democratisation of reading and of thought. And we’re moving from a vertical world in which the people with the knowledge used to drip it down to something in which it’s much more widely dispersed. And as editors, you can’t afford to ignore that.

In their joint interview, Zanny Minton Beddoes, the practical editor of The Economist, described a survival strategy pegged to pushing for the replacement of advertising revenue by expanded circulation and subscriptions. This could succeed, for the special reason why publications focused on finance and economics are virtually the only big names in journalism that are doing well behind the paywall or subscription barrier. Her plan represents a different recognition that success will entail some kind of financial reward for the reader-participants in publishing’s future. The economic model that we have advocated on this blog would give readers small monetary stakes in media organisations. That would be just right for the communal-minded, left-leaning progressives said to dominate The Guardian’s audience. By contrast, readers are willing to pay for old-fashioned subscriptions to The Economist — or The Wall Street Journal or FT — in the hope of learning what they can to protect their piggy banks from disaster. (See ‘The Guardian wants to look like a Facebook extension, but the right model for a socially sensitive, reader-supported newspaper is either Private Eye or Tsū.co’.)

Surely a sound byte encapsulating some of that would have been a more useful guide for editors coping with the digital transition than implying that the Guardian‘s huge economic losses are simply the fault of Facebook, which came along and devoured old media’s future.