Adam Lashinsky's dispatches on finance from the West Coast
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January 9, 2009, 4:41 pm

Can Google save newspapers?

By Adam Lashinsky, Sr. Editor at Large

There’s been so much online discussion about the interview I did with Google’s (GOOG) Eric Schmidt on this subject that I thought I’d post a few more thoughts. (John Battelle snarkily notes that all the discussion has been online … that’s, of course, just the discussion you’re seeing, John, which isn’t the same thing as all the discussion; most people haven’t even seen a print copy of that issue of Fortune yet, but that’s another story.)

Immediately after this piece ran I had an interesting conversation with an astute observer of this stuff, who raised a good point. Is the right question, can newspapers be saved? Or is it, can the print editions of papers be saved? I think it’s clear now that only the first question is relevant. The distribution method shouldn’t matter. If print has to die or be seriously scaled back, so be it, though I think the online-only crowd does itself a disservice. There’s simply no way to re-create the serendipitous experience of reading a newspaper online.  If you don’t read a paper, you will miss things. Period. (I know a print organization that is in the process of eliminating paid print subscriptions; that’s sad, but I digress.)  The more important thing is saving the journalism that goes into it. And I fear that in the interim period between now, when online doesn’t begin to pay for news gathering, and later, when somebody figures out the business model, irreparable damage will get done to the trade. With respect, young people who get their training at your typical blog (of course there will be exceptions) aren’t going to learn how to be journalists.

It’s a sad state of affairs, and Battelle is right to compare it to the auto industry, something Jack Welch also does in a TV show on Fox News he and I appear on this Saturday morning.

Filed under Go West, Uncategorized
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I most definitely agree with Mary, but I have to add one thing myself. I believe half the problem of the declining demand for print news papers is the American public’s dis-approval of the press altogether. More and more recently has this issue been highlighted by Sarah Palin and the obvious bias Major Media companies have toward their political agenda that no one can even tell the right way up anymore. When reading a newspaper, or even listening to a news story for that matter, becomes a struggle to find the unbiased truth between the obvious spin, people lose interest. If the New York Times or USA Today can figure out how to finally report stories that havnt been so washed of actual facts, maybe they will find the ability to sell more advertising space. And only then will people have interest in picking up a copy of the paper for 75 cents a day.

Posted By Austin Hughes, Orange County, CA : January 13, 2009 7:33 pm

Adam: I read your interview with Eric Schmidt from the hardcopy of Fortune magazine. I’d rather have a hardcopy of anything than the internet simply because I like to get the entrie picture the internet does not provide. The fact that newspapers are dyng merely, because they cannot generate the revenue they once did from advertising is a great downfall the public will eventually regret. Yes, the younger generation loves to be on the internet, but even my 23-year old daughter regrets the newspaper not being there for her to read for the “FULL” story. The fact that newspapers have gotten away from “investigative” stories has destroyed the American public’s belief they could count on getting complete and unbiased information. They have turned to fluff reporting and insulted American intelligence. This is what has turned the public away from buying newspapers in the first place. Of course,the decline in circulation has then decreased advertising revenue. If newspapers took the time to “MARKET” their newspapers then the interest would be there to purchase the paper in the first place. I worked at a newspaper for 16 years so I understand the cycle of the newspaper. If Mr. Schmidt is interested in having newspapers survive, Google could easily “market” newspapers. Their voice is so strong that the public would naturally gravitate toward their suggestions simply they are Google. The 4 “P’s” of marketing are Product, Price, Place and Promotion. Why companies no longer promote their product – newspapers is beyond me.

Posted By Mary Khan, Dallas, Texas : January 12, 2009 12:25 pm
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Adam LashinskyWall Street watchers think of capital markets and financial players out west as being on the "other" coast. That's not how it's viewed in the Pacific time zone. From the venture capitalists of Sand Hill Road to the bond kingpins of Orange County to the corporate finance department at a certain software company in Redmond, Wash., there's plenty going on "out there." Adam Lashinsky should know. A native of Chicago, he has covered West Coast finance for a decade, with an emphasis on money matters in Silicon Valley. If it involves money and it's happening west of the Mississippi, look for it in Go West.
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