I think I can say with little fear of contradiction that I know as much as anyone else in modern American journalism about the absolute, no-excuses necessity of operating in the black. In some ways, I know more because with big corporate operations there are lots of creative ways by which you can either hide from the public or hide from yourself that you’re operating at a loss or failing as a business. At least for a while, you can convince yourself that everything is great. You’re not losing money. You’re investing in growth. You’re focusing on quality. For this reason I’ve always seen news organization layoffs at least somewhat differently from many others who believe deeply in journalism. All the merit and great stories and hard work just melts into the background when you face the absolute necessity of making payroll. It’s a brutal taskmaster.
That’s not what’s happening at The Washington Post, and not simply because, of course, Jeff Bezos could float almost limitless news organization losses forever and barely notice. What we’re seeing is something that should be familiar to any close of observer of the news over the last generation. Let’s call it the formulaic billionaire white knight press baron doom cycle.
