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Post Carlos Slim and the New York Times; Jeff Bezos and the Washington Post
Created by John Eipper on 12/17/17 4:23 AM

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Carlos Slim and the New York Times; Jeff Bezos and the Washington Post (Istvan Simon, USA, 12/17/17 4:23 am)

The New York Times is a great paper, with a long tradition of mostly liberal (in the American sense of the word) editorial policy, but a superb news gathering organization with accurate reporting and absolutely not failing as Trump has said.

My guess is that it will remain a newspaper of integrity, and that Trump will be soon long gone, but the NYT will remain. I know nothing about Carlos Slim other than he is a cellular phone magnate in Mexico, and immensely rich, but if he has brains (and he probably does) he will not interfere in the editorial policies or news gathering of the Times, for if he does, the newspaper will lose circulation and, ultimately just be a drain on Slim's bottom line.

Trump, though he attacks the Times all the time, has been great for the paper, for circulation is way up and its prestige higher than ever in the world. These assessments, of course, are just my opinion, and I never was, nor ever will be an "ultra-liberal," and yet I am a proud subscriber of the electronic edition of the NYT.

Billionaires now own most great newspapers of the United States, The Wall Street Journal is owned by conservative Rupert Murdoch, The Washington Post by Amazon.com billionaire Jeff Bezos, and the NYT by Slim, and so on. The problem for newspapers is that fewer and fewer people read them. They have adapted and sell electronic editions, but the revenue on these is much lower than buying the printed version, though the costs of producing and distributing the electronic versions are also much much lower than actually printing it on paper. Also, one can get most of what matters in the world for free on Twitter.

Still, it is satisfying to read a longer version of an event than a 140- or even 280-character summary. One reads on Twitter mostly a digest by millions of people on the event, whatever it is, and Twitter tends to reinforce opinions, because the phenom of "followers" naturally encourages the association of like-minded individuals. Still, Twitter is a great engine of democracy in action. One gets a very accurate picture of the mood of the country on Twitter and I predicted the narrow victory of Doug Jones based on this. It was close, so I could have lost, but fortunately I predicted the outcome correctly. It is really comforting that even in Alabama a child molester cannot get elected.

JE comments:  As of Black Friday 2017, Jeff Bezos is now the world's richest person, and the first ever (I believe) to hit the magic $100 billion mark.  His surname, which he took when his stepfather adopted him, is of Cuban origin.  The Cuban entrepreneurial spirit?

A Mexican (sort of) owns the NYT, and a (sort of) Cuban owns the Washington Post.  Interesting.


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