The newspaper industry is finished, it cannot be monetised, especially in digital form. How much are The Guardian and The Telegraph losing? And what’s the point in paying for online editions, when there is a growing pool of bloggers and amateur journalists who are doing the legwork for free.
Who’d go into traditional journalism? You’d have to be out of your mind.
The only people interested in buying newspaper groups are already wealthy individuals looking for political influence.
But diversification is often a bad strategy, implemented at the terminus point of an industry.
Software is eating the world, after all. But such creative destruction has so far destroyed more than it has created: Amazon have yet to make a profit, whilst E-commerce has destroyed millions of traditional retailing jobs.
Y-Combinator is looking at a basic living wage, and this could be needed sooner rather than later, at the current rate of job destruction.