Control
Aemula Writer Spotlight - 10.31.24
“If you give good people bad information, they will make bad decisions.”
— Yuval Noah Harari
As we near Election Day, the media rush unveils the influence our information networks have on the outcomes of our democratic process. The meta-noise surrounding the media’s coverage of the election grows continuously through these finals days before shifting to post-mortem commentary once the results are in. In these pivotal final weeks, we gain insight into the power the media holds over public perception.
During routine news cycles between elections, it is tempting to dismiss claims of censorship, interference, and bias in the media since the incentives that drive these behaviors are often understated. Yet, when billions of dollars are being spent to influence the outcome of the election, outside pressures reveal the cracks within our current media system. The power over our nation’s media is truly wielded when the decisions are most critical.
Only 66 people have control over the primary sources of news for 121m Americans. While there are tens of thousands of journalists who contribute to reporting the news every day, the ultimate control over what gets published falls into the hands of a select few elites.
By looking at recent examples of major media acquisitions, a pattern becomes clear:
The Washington Post, acquired by Jeff Bezos for $250m in 2013, was on pace to lose $100m in 2023
The LA Times, acquired by Patrick Soon-Shiong in 2018 for $500m, is reported to have lost up to $50m annually since the acquisition
X.com, acquired by Elon Musk for $44b in 2022, is now estimated to be valued at approximately $15b as of 2023.
These do not appear to be savvy investments from a pure financial standpoint, suggesting significant non-financial incentives behind these purchases. This is no secret, as many owners of traditional media companies pursue the industry out of personal passion, driven by an interest in maintaining journalistic institutions while instilling personal values into their networks. In a free market, this is a fair game.
However, as readers and consumers of this information — which serves as the basis of the votes we cast — we must be cognizant of the risks associated with the concentrated control over centralized publications. We can see the points of weakness in the system begin to fail when the pressure builds. Most notably, last week, we saw the owners of major publications use their leverage to override decisions made by the journalists working at their institutions.
When the stakes are the highest, any lever that can be pulled will be pulled. Therefore, we must design a system that removes the levers altogether. In a decentralized system, there is no central point of control that can wield power over the flow of information.
This week, we highlight writers providing commentary on these recent examples of centralized control in media. No matter the perspective or justifications behind such actions, the simple fact that this power exists should raise concerns about its implications. Fortunately, with Aemula, we are building systems free of this control.
Popular Information
Written by Judd Legum, founder and editor of ThinkProgress with deep political experience as a Research Director for Hillary Clinton’s 2008 campaign and as the 2010 Democratic nominee for Maryland State Delegate.
“You are not a spectator, and democracy is not a game. But so much of what is written about politics treats you that way. That’s why I created Popular Information. It is daily news and analysis that respects you as a citizen. You won’t just learn about who is up and who is down. You’ll get in-depth information and perspective on the things that really matter.
Every day, there is an avalanche of information — but much of it is a distraction. This newsletter guides you through the noise and helps you focus on what’s important. Popular Information won the 2020 Online Journalism Award for Excellence in Newsletters.
I am a progressive, and you’ll find my outlook reflected in Popular Information’s reporting. But I’m committed to providing readers with the facts necessary to form their own opinions. There is no expectation that readers share my views.”
Big Technology
Written by Alex Kantrowitz, a Silicon Valley beat reporter and author of Always Day One: How the Tech Titans Plan to Stay on Top Forever, whose work has been referenced by publications such as The New Yorker, The Wall Street Journal, and Sports Illustrated.
“Big Technology is unafraid, not beholden to narrative, corporate interest, or ideology. It’s personal, a conversation between me and you, the subscribers. It’s consistent. And it’s fun.
After years as a beat reporter in Silicon Valley, I decided an independent newsletter is the best way to publish my journalism. When I wrote the Tech Giant Update at BuzzFeed, I loved the back and forth with readers, and that the replies were more heartfelt and informative than the vitriol on Twitter. I also found newsletter writing to be more free, not tied to the formats we see in traditional publications. I also believe independent, reader-supported journalism can actually work. So I’m giving it a shot.”
Racket News
Written by Matt Taibbi, an award-winning journalist, former contributing editor of Rolling Stone magazine, host of the Useful Idiots podcast, and 4x New York Times bestselling author.
“I grew up an admirer of investigative reporters like the great Seymour Hersh, narrative journalists like Rolling Stone’s Hunter Thompson, and independent muckrakers like I.F. Stone (I was fortunate to win the 2020 Izzy Award for independent journalism, named after Stone). I try to take a little from each model, trying to report on complex topics like finance, congressional procedure and military contracting in clear, accessible language. I will also continue the Rolling Stone tradition of presidential campaign reporting (I’ve covered five presidential campaigns), and will also work on various creative projects, including true crime reporting, serialized books, and video explainers.”
If you want to support any of the writers we spotlight, we highly encourage you to subscribe to their individual publications. If you want to support independent journalism more broadly, we offer both paid and free subscriptions for you to stay informed!
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Sources:
“A Decade Ago, Jeff Bezos Bought a Newspaper. Now He’s Paying Attention to It Again.”, NYT
“How biotech billionaire Patrick Soon-Shiong’s Los Angeles Times investment went wrong”, MarketWatch
“Total 2024 election spending projected to exceed previous record”, OpenSecrets
“Top 10 Primary News Sources in the U.S. — Notes & Methodology”, Aemula
