Media isn't Broken, it's AMAZING

Media isn't Broken, it's AMAZING
"Person sitting at computer with knowledge flowing" created by Dave Waring using Midjourney 3/13/24

All the talk about media being broken is dead wrong.

The internet has made media, and the media industry, better in so many ways.

And it’s about to get even better.

Here’s how:

1. Expertise can now be shared directly (h/t Jason Calacanis)

Old Way: Media companies control who shares ideas and expertise.

New Way: Everyone can freely share their ideas and expertise.

Which one seems better to you?

Reach at scale used to be costly.

Printing presses, delivery trucks, and TV studios aren't cheap.

The internet flipped this dynamic on it’s head.

Distribution of information is now free. This allows us all to go direct.

That’s not a bad thing, it’s AMAZING!

2. We’re all “insiders” now

Contrary to what we thought, insiders seem happy to share information.

They’re releasing podcasts of themselves hanging out discussing finance and politics.

Bill Gates even has his own podcast now for god's sake.

Everyone can now listen to the discussions of people that used to be completely untouchable.

That’s not a bad thing, it’s AMAZING!.

3. News is better than ever.

Old way: Journalists needed on scene to get first hand coverage.

New Way: Anyone can go live, at the exact moment news is happening.

Which seems better to you?

And it’s not just citizen journalists.

In addition to expert journalists covering a beat, we now have experts speaking to us directly from the inside.

This has resulted in exponentially more high quality news.

That’s not a bad thing. It’s AMAZING!

4. It’s never been easier to build a media business

The failure of traditionally run media businesses doesn’t mean things are broken.

Neither does the dying off of “new media” publishers that sacrificed quality for scale.

In fact, the opposite is true.

It’s the successful purging of less efficient methods by new and better ones.

And it’s not just better for media consumers.

It’s better for the media industry as well:

  • Learn how to start and run a media business for free online.
  • Needed tech is inexpensive or free
  • SEO, Youtube, X, Instagram and more offer free distribution to the world.
  • Anyone can earn with traditional ads, affiliate, subscriptions, events and more
  • Successful non-media businesses are being built off media brands.
  • Bureaucracy is no longer needed.
  • More value can now be placed where it belongs. With the people actually creating the content.

Media traditionalists don’t take the successes seriously. They don’t look like them.

But it’s the non-traditionalists that are creatively destroying the traditionalist’s old models.

It’s just easier to blame a broken industry.

And it’s not only new and small media companies that are finding success.

The NY Times puts the old in old world media. And they’re adapting and thriving.

These aren’t bad things, they’re AMAZING!

And it’s about to get even better

Is everything perfect? No.

There’s lots to improve.

Let’s not stop progressing.

Then we’ll be stuck with all the problems we have now, and worse.

Let’s keep improving.

The next phase of the media revolution is upon us:

1. Artificial Intelligence

The internet significantly reduced publishing friction.

AI will completely remove it.

Getting ideas into useful formats is a skill many people lack.

Even for pros it’s a lot of work.

Tools like Lex are working to remove this friction. They’re giving everyone their own editor on steroids.

Soon making your knowledge available and capturing it's value will be frictionless.

Heygen can already give us an AI generated clone.

Mine speaks dozens of languages.

And we’re just at the beginning.

But Dave, “There’s gonna be a flood of crap and deepfakes!!!.”

Yes there is.

The successful media companies of the future will be built by solving these problems.

Not just complaining about them.

Here’s how:

2. Crypto

Crypto will lead the next phase of the media revolution.

Crypto currencies like Bitcoin have a role, but are not the main character.

The star is the Blockchain.

The same technology that allows Bitcoin to exist, can:

  • Provide digital ownership rights for content.
  • Allow automated tracking and payment for its use.
  • Allow people to attest a photo, video, or audio is really them, and not a trick.

Does this sound like a technology that could solve a lot of our problems?

Yes. And it can do a lot more than that.

But Dave, “I thought crypto failed?”

People were saying the same thing about the internet.

Crypto’s broadband moment is coming.

What’s not amazing, and really sucks

A lot of people have lost jobs because of what I am describing.

Others live in constant fear they are next.

If that’s you, I want to say directly:

These financial and psychological hardships really suck. I don’t wish that for anyone.

But please also know that I wrote this article for you.

My hope is to show that all is not lost for the media industry.

That, contrary to all the negativity, there are real bright spots.

To get your gears turning on how you can not only survive in a media industry you love, but thrive.

Thanks for reading.