In the beginning it was eBay and Craigslist siphoning out the classified ads. Then it was AOL, Yahoo, ICQ and YouTube taking away the attention and eyeballs (before the smartphones era). Then came smartphones and social media.
Same with magazines. There are some niche magazines that still do alright and also what were niche broadsheet publications became online subscriptions where they offered the subscriber an ROI of some kind.
Would news be in a good place if they had the monopoly for online advertising?
Once upon a time newspapers were the platform, and they made quite a bit of money selling access to eyeballs. If you wanted to get a message in front of a lot of people, you had to pay a newspaper to do it.
Now on the internet they don't own the platform anymore - tech companies do. Newspapers are just content creators, a much less lucrative business to be in.
> The paper had some profitable years under Bezos, sparked by the 2016 election and the first Trump term. But it began losing enormous sums: seventy-seven million dollars in ~~2013~~ 2023 [WaPo fixed this after posting], another hundred million in 2024. The owner who once offered runway was unwilling to tolerate losses of that magnitude. And so, after years of Bezos-fuelled growth, the Post endured two punishing rounds of voluntary buyouts, in 2023 and 2025, that reduced its newsroom from more than a thousand staffers to under eight hundred, and cost the Post some of its best writers and editors.
All it took was a few years of higher interest rates and a depressed investment environment!
If Bezos can't get $100M of losses worth from the Washington Post by other means, well, he's not using it very well.
However since he switched from the "Democracy dies in darkness" ethos to the "ah fuck it bring on the darkness, I own all the torches" ethos, he eliminated the possibility of him getting benefit from owning and running an elite institution in the information ecosystem.
It's been really funny to see a lot of tech execs fail to understand power, and its sources, when outside of their tiny section of the economy. Peter Thiel might actually understand a lot more, but Thiel seems to be the only one capable of doing anything except losing their power in an oligarchy.
> Melania film earns $7m in US, strongest documentary debut in over a decade
You can also look it up on Rotten Tomatoes where it currently has a 99/100 audience score and then look it up on IMDB, where it has 1.3/10. I personally believe none of the two are completely legitimate, but I think it's pretty obvious which of the two is more astroturfed.
And a hundred million a year is play money to someone who earns (low estimate) $2m an hour.
I don't quite understand why, because refusing to endorse anyone is a neutral step. I've always found newspaper endorsements to feel slimy. I'm not ascribing some kind of noble reason for them choosing not to endorse Harris, but their move to was to endorse _no one_.
Pulling the endorsement after it goes the wrong way isn’t neutral.
https://en.wikipedia.org/wiki/Democracy_Dies_in_Darkness
It might be still, I unsubscribed due to this nonsense. Went to the guardian.
> they refused to endorse a candidate.
> for them choosing not to endorse Harris
There was no "they" or "them" involved.
Note a report on another WaPo layoff, from January this year, describes a layoff as "nearly 100 workers, or 4% of its staff" [1] which would of course work out to 2500 employees.
'Newsroom' employees are journalists, editors, photographers, fact checkers, foreign correspondents etc; non-newsroom employees are jobs like ad sales, customer service, printing, distribution, HR, IT, legal, finance etc.
So the $100M loss isn't $125k per employee, it's more like $40k per employee.
> He pointed to Bezos’s decision to kill the Harris endorsement—a “gutless order” that cost the paper more than two hundred fifty thousand subscribers.
This completely matches my own memory. When Bezos killed the WaPo endorsement of Harris my own social media feed was full of people encouraging each other to boycott and cancel WaPo.
0. https://en.wikipedia.org/wiki/List_of_assets_owned_by_the_Ne...
Another metric: Subscribers to the Times last year went up, while subscribers to the Post went down. It's clearly not just about the internet, or about partisan politics. (as the Post at least used to be about as liberal as the Times)
The Bad Billionaire? He buys journals to run them to the ground. Learn the difference!
I don’t think it’s anomalous to have a major national newspaper that’s profitable. And WaPo should have been absolutely primed for Trump II given its long time DC focus. They historically had the best political coverage of DC.
And then Bezos replaced veteran leaders with ideological leaders from the Murdoch empire. Then Bezos put his thumb on the scale and vetoed the paper's presidential endorsement in 2024, and 250,000 subscribers cancelled. Then Bezos dictated that the paper's opinion section will censor any idea that does not support conservative/libertarian/free-market ideology and 75,000 more subscribers cancelled.
Maybe the ideological reorientation along with savage cuts to the newsroom has something to do the loss of subscribers and the dire financial straits used to justify even more cuts to the newsroom?
There is a market for quality, fact-checked journalism that you can't get on podcasts and social media. But when you force that journalism through a right-wing ideological filter, you destroy the intrinsic value of independent journalism.
I used to look up to him before he became an obsequious traitor.
For a long time, the solution of most newspapers was classified ads. They've always financed news with non-news services.
NYT being a "paper of record" is something of a delusion of grandeur.
Yeah but that doesn't help when the entire purpose, when what we need, is an informed general populace.
If the Fed goes back to cutting rates, it could be soon.
It's not something the market will solve. The post 1940's US Media landscape was a direct reaction to multiple, non-contained wars in short succession. The political class doesn't feel they've "lost" control in a long time hence no urgency to fix it.
In a lot of cases we're seeing Advertising warp and destroy the industries they provide money to. It's not evil, just that industries start to invert whether the people or the advertisors matter.
That was more than 20 years ago. It's hardly relevant to the journalism landscape in 2026.
It's not inconceivable that in the near future, if you give up on the NYT, you give up on having a news source, period.
It is actually very relevant. If you read Chomsky & Herman's 'Manufacturing Consent', you'll get examples from the 1970s and 1980s, another 20 years earlier, and you will find that "plus ça change, plus c'est la même chose".
You're stuck in the past, and letting the (non-existent) perfect be the enemy of the good. However imperfect the newspaper industry may have been, it was a whole hell of a lot better than the mix of social media and outright propaganda that's come to replace it.
Pretty soon you may have no place to find out what's going on in your city, country, or the world; except via the rumor mill and works similar to Melania. But I guess you think that's fine fine, because Chomsky & Herman said the NYT wasn't perfect?
It's also exactly the sort of take you'd see propagated by what the NYT functionally is, so I guess have fun with that? For me, seeing wild talk like that only underscores my complete, utter, earned distrust of the thing. All righty then, the New York Times is the only information, full stop. How nice for it.
Then have fun reading takes on social media other kinds of cheap opinionating. Is that really better?
Letting the perfect become the enemy of the good is a problem a lot of people have.
You didn't lose much by the way, their handling of Gaza was equally despicable.
FAZ, Der Spiegel, NZZ earn money, too and their market is way more restricted.
Everyone knows why he bought the Washington Post: it was for clout and prestige. Just like how the titans of industry built opera houses and libraries in centuries past. You aren't buying it to make a profit. You take care of something valued by society, and you win some respect from society. Conversely, if you burn that thing to the ground, society will hate you.
So why is the profitability of the Washington Post such a concern all of a sudden? Sure, they lost $100M in 2024, but Bezos didn't buy the Post to make money! And it's not like money is tight. Bezos is worth over $250B; in the last few days alone the jump in AMZN stock increased his net worth by over $5B. If he were to hand that $5B over to the Washington Post, they could keep on losing money at that rate for another half of a century! The article makes this exact point in the last few paragraphs.
If Bezos was genuinely concerned about alienating Trump or whatever, why not just sell the Post? Why try to undermine it like this? You are pissing off the people who like the Post, and I don't think the people who hate the Post are really going to care.
What he's really buying is power. Even your example of opera houses vs libraries accomplishes two different goals.
Opera houses are places for elites to gather and experience "culture". It means is you own a club for other rich people and create a form of soft power by controlling who gets invited to and can hang out at your club - and maybe put on some shows that everyone can buy tickets to as your "philanthropic contribution to society"
A library is more of a common use. At least in the modern day. Maybe 100 years ago libraries were similar to opera houses - mostly frequented by elite/educated and created a club for them to hang out at. Similar to donating to universities. But they're free for the public, so I'd argue this is quite a boon to common society.
But buying a media company is straight power. You are buying influence over how the public receives information. This is why Musk bought twitter. This is why Murdoch bought Fox news. This is why a billionaire conglomerate forced TikTok to sell itself to them. At this point, more money provides diminishing returns on power, so they buy influence in other ways.
That’s it.
Seeing a local institution gutted by an outside force simply sucks.
You should probably read about the cuts we're talking about, then. From the OP:
> The metro staff, already cut to about forty staffers during the past five years, has been shrunk to about twelve
Relative to what it was like c. 2005 it's impossible to describe how much worse a paper WaPo is. The local coverage was basically nonexistent (a blog run by one guy was putting out more). At some point the paper stopped covering the business of congress and the federal government with regularity. And most of the articles felt like recycled, lesser versions of what the Times would write about things. In short, it brought very little to the table for me as someone who just wanted to know what was going on.
I cancelled my subscription, and they still delivered it to my apartment every day for four more years until I moved.
It also probably did not inspire very much good will from management/ownership when the company's employees started regularly leaking proceedings at company meetings and reporters started making a practice of using social media to criticize management during work hours.
4 years after the Bezos acquisition?
Elementary reading skills suggest this means they lived in DC for some significant period of time prior to 2017 as a WP reader, moved away from DC for some unknown period living elsewhere as a non-WP reader, moving back to DC in 2017 when they started reading WP again.
This doesn't really add up given Bezos purchased it in October 2013.
> It also probably did not inspire very much good will from management/ownership when the company's employees started regularly leaking proceedings at company meetings and reporters started making a practice of using social media to criticize management during work hours.
Your thinking is completely backwards. This isn't the first case of a wealthy individual buying journalism in order to destroy it. Why do you think employee backlash happened in the first place?
In understanding everything that's being written about the Post layoffs, one thing you absolutely have to understand (you can weight it however you'd like) to have a coherent take is: the New York Times is an anomaly. Newspapers are a terrible business. People don't get news from newspapers anymore, and advertisers don't reach customers through them.
The Times is thriving because they've pivoted from being a newspaper to being a media business. The games vertical is the first thing people talk about, but cooking is arguably a better example. The verticals have dedicated users, their own go-to-markets, their own user retention loops.
Like basically every other newspaper, the Post failed to replicate this. They're staffed like a big media business, not like a targeted vertical like Politico, but they don't successfully operate like a media business.
Recently, both NYT and WP had front page articles about a book by some billionaire's daughter whose husband cheated on her. They seemed like puff-PR posts.
NYT is taking a smart approach to other verticals, such as The Athletic and some of their podcasts (for tech, Hard Fork). I am hoping they can figure out business coverage eventually.
What surprises me is how almost no other "hard news" brand in the English-speaking world has attempted to follow even a lite version of the NYT approach. It's not like Bezos or the other billionaire owners of legacy media (Murdoch, Soon-Shiong, Henry, etc) didn't have the chops or the deep pockets to invest in a recipe database or a simple gaming portal. Even AARP figured out that simple games are a good way to engage with its users (https://www.aarp.org/games/).
In DC we had a hyper local free paper, the Express published by the Washington posts.
These papers were passed out by beloved members of the community. Made for good small talk while riding the metro.
Then the express was ended, the folks who passed out the papers were left without income.
I don't blame anyone in particular. Maybe newspapers are obsolete.
Fast forward and he's blocking the paper from endorsing presidential candidates (that alone lost 250k subscribers), he's reforming the opinion section to match the views of the current administration... and now he's just straight up destroying half of it. A lot has happened in his personal life too (divorced, remarried) and I'm curious what he'd actually say if he was to look back and reflect on the path taken. I wonder how reflective it is of the rich retreating into bubbles in the COVID era and never emerging from them. Alas, we probably won't ever know. There aren't many places left to report on it!
That's it, that's how he did it.
> Buoyed by Bezos-funded expansion and the public’s fixation on the new Trump Administration, the number of digital subscribers soared from thirty-five thousand when he arrived to two and a half million when he left, in the summer of 2023. But Ryan failed to develop an adequate plan for how the newspaper would thrive in a post-Trump environment.
gamache•1h ago