A dot-com entrepreneur admits the grim truth about the nu-internet age:
But the bigger challenge for those who love writing and reading is that advertising in the digital space is slowing—and the problem gets much worse once most reading is done on phones. It’s simply easier and more efficient to run ads on Facebook or Snapchat, which have bigger audiences and better technology to match readers with things they want to buy or do.
In his argument, we are shifting to a model where people pay for content much as they once bought newspapers and magazines.
But advertising is slowing for another reason. It is that we have created a mass of proles who buy only certain things that are trendy, and so advertising is dead to them. They are on the internet to pass the time at their unnecessary jobs, most of which are creations of Government regulations and legal incentives.
The nu-internet empire was based on the idea that we could take every warm body, hook them up to a simplified internet like social media, show them ads and have a profitable new industry. But that is no longer happening. Why? Most of these people are do-nothings, and the ads do not affect them.
His wishful thinking is merely the latest admission by this industry that it is dying. With it collapses the Clinton miracle and the Obama “recovery,” as well as the myth of STEM narcissists in California saving us from our imminent collapse.