The contrasting media strategies and impacts of Elon Musk and Jeff Bezos, particularly focusing on their respective media acquisitions: Twitter and the Washington Post. Daniel McCarthy explores how their investments reflect different understandings of media power in the 21st century.
• Musk vs. Bezos: Both have experienced being the world's richest individuals and own significant media platforms. Musk's ownership of Twitter allowed him considerable influence in politics, asserting that the platform played a crucial role in elections. In contrast, Bezos's ownership of the Washington Post has led to challenges and dissatisfaction rather than influence.
• Media as Platforms: The article argues that modern media power is characterized by ownership of platforms rather than traditional publications. Bezos's success with Amazon as a universal retailer contrasts with his struggles with the Washington Post, a legacy newspaper that has not adapted well to modern media dynamics.
• Bezos's Investment in the Post: Bezos purchased the Washington Post for $250 million in 2013, subsequently investing millions more. However, this has resulted in discontent among staff and declining readership. The article suggests that despite his financial capability, the acquisition hasn't yielded positive returns for Bezos regarding influence or reputation
• Historical Context: The piece provides historical context about the Washington Post, emphasizing how its past aligned with influential political figures and movements. It suggests that when Bezos acquired the paper, he miscalculated its relevance in a changing political landscape.
• Declining Readership: The article highlights significant drops in the Post’s readership during turbulent political periods, particularly criticizing its perceived failures during the Biden administration.
• Critique of Media Influence: McCarthy questions whether Bezos's heavy financial commitment to the Post could be seen as an attempt to bribe or sway powers on the opposing political side, drawing a parallel to other allegations of corporate influence in media.
The rivalry between Musk and Bezos illustrates the shifting landscape of media power. Musk leverages a platform that allowed him to influence political outcomes, while Bezos's traditional media investment struggles to find relevance and effectiveness. This dynamic underscores a critical shift in how media ownership and influence operate in contemporary society, highlighting that platform strategy is vital in the current media environment.
https://spectator.com/article/the-bezos-musk-rivalry-and-the-changing-power-of-media/?set_edition=en
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