The sinking media ship

Mindy McAdams has a great list of things we should NOT be discussing in trying to find a future for media companies, news and journalism. I’m not sure I agree with everything on the list, but one quote stood out as a nice way of framing the transition currently going on:

Newspapers were a nice business. Publishers could make the product insanely cheap (remember the penny press), and the advertising would cover the expenses, plus generate fantastic profits. However, this is clearly over. It’s done. It worked for a long time, but now, like trans-Atlantic leisure travel in big passengers ships, it will never work again.

The emphasis is mine.