2 results for "Economics"

Traffic: genius, rivalry, and delusion in the billion-dollar race to go viral

Smith, Ben (Journalist)
"The origin story of the Age of Disinformation: the candid inside tale of two online media rivals, Jonah Peretti of HuffPost and Buzzfeed and Nick Denton of Gawker Media, whose delirious pursuit of attention at scale in the first two decades of the 21st century helped release the dark forces that would overtake the internet and American society. If attention is the new oil, Ben Smith's Traffic is the story of the time between the first gusher and the impact of climate change. The curtain opens in Soho in the early 2000's, in that brief moment after the first dotcom crash and before Google, Apple, and Facebook exploded, when it seemed that New York City rather than Silicon Valley might become tech's center of gravity. There, within a few square blocks, Nick Denton's merry band of nihilists at his growing Gawker empire and Jonah Peretti's sunnier crew at HuffPost and Buzzfeed were building the foundations of click-bait media. It was tech's age of innocence: the old establishment might have been discredited by the Iraq War, but digital news would facilitate the spread of truth. Progressive activists were first to the scene, and for a while it seemed they were the scene. After all, didn't they get Barack Obama elected? Ben Smith, who would go on to earn a controversial reputation as Buzzfeed's editor-in-chief, was either there or talked to everyone who was, and in his trademark fashion, he chronicles it all with marvelous lucidity scored with dark wit, sparing no one--and certainly not himself. Denton and Gawker were seen at the time as the black hats, but in Smith's hands the story is much more nuanced: yes, Denton's ideology of radical transparency was problematic, but at least he had an ideology. Jonah Peretti survived long after Denton's Gawker perished because his focus on clicks was relentlessly content-agnostic. But as with the proverbial sorcerer's apprentice, unintended consequences began to gain momentum. At the heart of Traffic is one of the great ironies of our time: the internet, which was going to help the left remake the world in its image, has become the motive force of right populism. As Smith and his colleagues and rivals thought they were inventing digital media, other figures, flickering around the margins of their story, had different designs. People like Steve Bannon and Andrew Breitbart and Gavin McInnes and Chris Poole, the creator of 4chan, all seemed like minor characters in the narrative in which Nick and Jonah and crew were the stars. By 2020, any reasonable observer might wonder if the opposite wasn't the case. To understand how we got here, Traffic is essential and enthralling reading"--
Penguin Press 2024 343 pages

The ideas industry

Drezner, Daniel W.
" The public intellectual, as a person and ideal, has a long and storied mythology. Writing in venues like the New Republic and Foreign Affairs, they are expected to opine on a broad array of topics, from foreign policy to literature to economics. Yet in recent years a new kind of thinker has supplanted that archetype: the thought leader. Equipped with one big idea, thought leaders focus their energies on TED talks more than highbrow periodicals. How did this shift happen? In The Ideas Industry, Daniel W. Drezner points to the roles of political polarization, heightened inequality, and eroding trust in authority as ushering in the change. In contrast to public intellectuals, thought leaders gain fame as single-idea merchants. Their ideas are often laudable and highly ambitious: ending global poverty by 2025, for example. But instead of a class composed of university professors and freelance intellectuals debating in highbrow magazines, thought leaders can bypass traditional gatekeepers to directly influence policymakers and the public. They are more immune to criticism--and in this century, the criticism of public intellectuals also counts for less. Three factors have reshaped the world of ideas: waning trust in expertise, increasing political polarization and rising levels of plutocracy. The erosion of trust has lowered the barriers to entry in the marketplace of ideas. Thought leaders don't need doctorates or fellowships to advance their arguments. Polarization is hardly a new phenomenon, but in contrast to their predecessors, today's intellectuals are more likely to enjoy the support of ideologically friendly private funders and be housed in ideologically-driven think tanks. Increasing inequality is a key driver: more than ever before, contemporary plutocrats fund intellectuals and policy shops that generate arguments that align with their own. There are downsides to the contemporary ideas industry, but Drezner argues that it is very good at broadcasting ideas widely and reaching large audiences of people hungry for new thinking. Both fair-minded and trenchant, The Ideas Industry will reshape our understanding of contemporary public intellectual life in America and the West."--
Oxford University Press 2017 344 pages