The internet has totally destroyed the economics of news. Just like it has done to so many other industries. I think what we are actually seeing right now is an

The internet has totally destroyed the economics of news. Just like it has done to so many other industries. I think what we are actually seeing right now is an industry with a tremendous oversupply of newspapers, journalists, and other content. As a result of the oversupply everyone's profits have drastically declined, and to make up for that they have moved into more garbage and less journalism. Because garbage sells really well. Great journalism is important, but people don't pay as much for it. It's very disappointing to hear stories like this from people that care deeply about their profession, but it's how economics works. Supply is too great, so the amount of money each supplier gets goes down. So some suppliers see that its not worth it, and stop supplying things. At some point the market reaches equilibrium and the amount of suppliers becomes stable. Eventually, the market will shakeout and the profits will rise to a sustainable level for those who are left. When this process finishes, hopefully we will be left with some great journalists not slinging garbage at us.