pemulis
Joined 16 years ago
Joined 16 years ago
"Local newspapers hold their governments accountable. We examine the effect of local newspaper closures on public finance for local governments. Following a newspaper closure, we find municipal borrowing costs increase by 5 to 11 basis points in the long run. Identification tests illustrate that these results are not being driven by deteriorating local economic conditions. The loss of monitoring that results from newspaper closures is associated with increased government inefficiencies, including higher likelihoods of costly advance refundings and negotiated issues, and higher government wages, employees, and tax revenues."
https://www.brookings.edu/wp-content/uploads/2018/04/Murphy-...
https://www.cjr.org/local_news/american-news-deserts-donuts-...
Mass market news allowed for the professionalization of journalism, with a set of ethics that demanded (attempts at) objectivity. With mass market news dying, there isn't enough money to support a large professional journalism class. In its absence, we are left with propagandists that publish publicly for free or at discounted rates and consultants that publish objective information privately at high rates that only businesses, politicians, or the wealthy can afford.
Eventually, I made the switch to full-time freelance investigative reporting. It was hugely rewarding at a personal level and made a positive impact on people's lives, but it was also a financial catastrophe that I'm still paying for. I could no longer justify as I was approaching my 30s and planning to get married.
I switched back to programming, eventually landed my current full-time job doing blockchain stuff, and really enjoy it. I miss investigative reporting, but still do a bit of research for activist friends in my free time. Eventually I'd like to make enough from my technology work to become the publisher of a small investigative outlet where I could pay other people to research and write. Given the dire economics of journalism, making a bunch of tech money to subsidize a publication would be more impactful than slogging away in poverty on my own.
There's a lot of evidence that the costs of government go up as local journalism recedes, because there is no one to objectively report on waste, corruption, and inefficiency. I think that tax dollars should be set aside to fund journalism, since journalism ultimately saves money for everyone. I don't see any other big solutions that would solve this systemic problem. We're moving to a state where only the rich can afford good information and everyone else is in the dark.
I'm on board with everyone saying that you need to talk to a lawyer sooner rather than later, and should work with someone who knows the area.
Hi, HN! I'm a full-stack web developer, looking to take on interesting freelance projects. I enjoy using Ruby, Rails, PostgreSQL, SASS, RSpec, and CoffeeScript/jQuery, but I always try to find the best tools for the job at hand. Recent projects of mine include a GitHub recommendations service and a rewrite of the Open Library gem.
GitHub: https://github.com/pemulis
E-mail: [email protected]
1) People trying to make the price of bitcoins drop, so that they can buy low and sell high. (This possibility is called out in the article.)
2. Criminals trying to extract a ransom from Mt. Gox, which is losing a lot of revenue and trust every minute their site is down.
shutt.in