The debate over Who Destroyed Journalism borders on theology among journalists and our fellow travelers. Particular fanaticisms often reflect when the believer’s heart first got broken by the Fourth Estate. Popular Satans have included “Craigslist,” “Hedge Funds,” “Fox News” and “the publishers who thought it was a good idea to put news on the internet for free.” Like all the best journalistic controversies, there will never be a declared winner; the argument can last as long as you like.
As a skeptic who isn’t above some self-flaggelating, I’m open to blaming everything and everyone, all the way down to the audiences and journalists ourselves. But as a matter of capitalism 101, it also seems reasonable to blame multi-trillion-dollar tech companies possessing the advertising dollars that once funded tens of thousands of news jobs. Although I rarely advise placing trust in a cliche, follow the money is one of the better coinages to circulate in American newsrooms over the past half-century. And so in 2023 and 2024, I chased the trail of missing journalism cash toward Silicon Valley. Like many of California’s classic detective stories, the pursuit ended in heartbreak.
