Newspapers and technology: Network effects | The Economist

Dontcha just love them expurts!

Newspapers and technology: Network effects | The Economist:

"James Gordon Bennett, the editor of the New York Herald and author of the gloomy prediction of May 1845, concluded that the telegraph would put many newspapers out of business. “In regard to the newspaper press, it will experience to a degree, that must in a vast number of cases be fatal, the effects of the new mode of circulating intelligence,” he wrote. He returned to his theme in another editorial in July. “All those papers which serve merely as vehicles of intelligence will be destroyed,” he declared. “The scissors-and-paste journalism of the country will be annihilated.”"