It’s been more than a decade when CNN was a respected institution. I agree it’s too late for the news media in general. Their incentives are unfortunately all lined up just like social media: pure ragebait is the fully optimized product. The only thing changing from now on is fine tweaks to get it slightly more… ragey.
I'd roughly agree they are, but they have clearly positioned themselves in the opposite way as the mainstream media - the rest compete for ad-supported clicks and views; those two are fully paywalled and at a price that deliberately drives away anyone below say, the 90th percentile by income or wealth.
That resembles, to me, how newspapers used to be - except instead of a small fraction of people being willing to pay for quality news, roughly two thirds were (62 million subscribers out of 92 million American households in 1989 [1]). Like Bloomberg today, their incentives were to provide information for serious people and to cultivate a trustworthy reputation, rather than to enrage people into commenting and sharing articles.
The decline of newspapers is of course too much of a tangent, but I think it's interesting how the math kind of illustrates why most 'news' has to be trash now.
