Old school view on new competition
One site I like to read regularly is Gullible.info, where they post interesting little facts they find as they crawl the internet. Now that my latest Telligent project as launched, catching up on a few things and ran across their post on November 3rd. It had an interesting little factoid that caught my eye:
According to the CEO of the New York Times, websites like digg.com were directly responsible for profits shrinking five percent each quarter last fiscal year.
That is an old school view of new competition. Digg is not responsible for their profits shrinking. They are responsible. They are responsible for their own company, and only them. They failed to innovate. They failed to adapt with their audiences' changing interests.
The lines between old media and new media are blurring. They still view themselves as though they should have a rightful stronghold. Wrong. Society is not static, it is always changing. Digg represents the new, the Times represents the old. If the old doesn't change with the new, then the old is going to be gone.