News, music, disruption and credit unions?

You should read this article by Bob Lefsetz. He writes about music and newspapers. But he could be writing about credit unions.

Here’s a snippet.

The newspaper is a bad paradigm for the new world. It’s dependent upon advertisers, businesses and personal, which know their customers no longer read it. Classifieds moved to Craigslist. And we’re bombarded with targeted ads online, why would someone advertise in the newspaper? And the web is infinite and the paper is limited. If we want to go deeper the paper won’t let us. Turned out we wanted not only the outtakes, but the live versions too. All the stuff the labels used to keep in a vault customers wanted. But with the audience spread out over many verticals there was less money for so much, so costs were cut, the same computer tools that enabled file-trading enabled the cost of production to go way down. The truth is it’s never been cheaper to make music, it’s just become harder to get it heard, the same way it’s become harder for the truth in papers to spread and take hold. There’s just too much information. To believe that fake news will be eviscerated and the truth will be revealed is to believe that suing file-traders will get rid of piracy. The solution is to reach into the future and get ahead of the public, something that both print and television news refuse to do.

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