"Greed" - Not So Fast

  "So they [tech media companies] had the money to do it, right? They have the money and they have the means to do it. And anyone who has the money and the means tends to win in many markets." - Kara Swisher in an interview with The Street, May 4, 2024

That Swisher interview nails why traditional media, that is what we know as "journalism," probably doesn't have much of shot at survival. They didn't and don't have the war chest of tech media companies. And, yes, it is probably too late for them to scramble to put together the Big Big Money. Meanwhile they can huff and puff with copyright lawsuits but that won't get them back on an effective track to survival. 

The same principle "anyone who has the money and the means tend to win many markets" tends to apply to myriad other sectors. That's what exposes of supposed greed in those sectors miss entirely. That is, it takes a lot of money to get in the game in a powerhouse way, to stay there and to grow. 

The classic example is the September 2022 diatribe against large law firms - "Servants of the Damned" - by David Enrich. One of its target is supposed greed. Look what elite law firms now bill at. Enrich also rants against power. Yet power is an objective in both business and in life.  

Despite lots of promotion, "Servants" didn't resonate. So far there have been only 251 customer ratings. For Peter Thiel's "Zero to One" there have been 36,189 customer postings on Amazon. Thiel understands capitalism. Already "Servants" has descended into Amazon rankings hell of 303,485. 

Clearly, what Enrich doesn't get is capitalism: It takes money, lots of it, to be player, to stay in, and to grow (which in many niches represents the dynamics of competition). Even a micro entrepreneur gets that: You have to put money in. Yeah, invest in that website.

But what Swisher is observing about the necessary role of funds is, of course, no newsflash. Way back in October 2021, someone actually on the playing fields made the same candid size-up of the key variable in business success. That had been Paul, Weiss law firm chair Brad Karp in an interivew with Bloomberg Law. 

Karp was explicit and frank about the sector's being binary. The law firms with a war chest to attract, hire, motivate and retain talent (called by the old-fashioned term "stars") would survive long-term. Those without that financial resource would be plowed under. No, they wouldn't survive. Obviously, to maintain a substantial war chest requires lots of billling. 

In my coaching I use the term "well-funded" business. That's the sweet spot for those hunting for work, full-time and contract. Meanwhile, there will have to be a rethinking of the concept of "greed." 

In most cases you have only one shot in communications. Jane Genova is a communications coach and content-creator. Complimentary consultation (please text 203-468-8579 or email janegenova374@gmail.com) 


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