‘It is impossible to suffer without making someone pay for it; every complaint already contains revenge.’ —Nietzsche
New study finds Internet not responsible for dying newspapers
Gentzkow notes that the first fallacy is that online advertising revenues are naturally lower than print revenues, so traditional media must adopt a less profitable business model that cannot support paying real reporters. The second is that the web has made the advertising market more competitive, which has driven down rates and, in turn, revenues. The third misconception is that the Internet is responsible for the demise of the newspaper industry.
