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Advertising is what you pay for, Public Relations is what you pray for - The age-old adage is in for a change.
So, why does a VC firm want to create a 'media empire' to...
"Replace the media"?
So, why does a VC firm want to create a 'media empire' to...
"Replace the media"?
The media business is probably the most thankless profession ever. Subscription revenues are monopolised by a few, and don't have room for many.
Dependency on advertising can be catastrophic, and demands partisanship, or bending ethics.
Dependency on advertising can be catastrophic, and demands partisanship, or bending ethics.
If all that's not gloomy enough, because of the sheer individual content creators, social media micro-influencers, and overall noise, grabbing eyeballs for a story is...
Hard.
Hard.
It's no wonder journalism is a 'high leg work', 'low rewards' industry. Above all, 'masala' sells. If you can't spruce the headline, and have enough drama in your story, it's most likely not going to be read.
This creates an obvious vacuum for deeply researched stories.
This creates an obvious vacuum for deeply researched stories.
Journalists are simply not equipped enough to report these stories. That's the bitter truth
There's no incentive in writing these stories either, because of the sheer magnitude of announcements that 'anyway happen, and can't be ignored' + the obvious lack of domain knowledge.
There's no incentive in writing these stories either, because of the sheer magnitude of announcements that 'anyway happen, and can't be ignored' + the obvious lack of domain knowledge.
It's no wonder companies are building their own 'Newsrooms', and treating marketing as a media function.
Because narrating a story is also a function of 'distribution' across social media channels.
Because narrating a story is also a function of 'distribution' across social media channels.
If you're able to nail good storytelling, you can garner eyeballs by pouring marketing dollars into dissemination of content.
The media drives legitimacy, but if you're a small company that has a story to tell, you're better off blitzkrieging it via digital ads.
The media drives legitimacy, but if you're a small company that has a story to tell, you're better off blitzkrieging it via digital ads.
From a16z's pov:
- It has the brand
- It has high stakes in the tech industry
- It has the knowledge (breadth in portfolio)
Now, it will get its storytellers.
- It has the brand
- It has high stakes in the tech industry
- It has the knowledge (breadth in portfolio)
Now, it will get its storytellers.
Driving legitimacy from traditional media will lumber on.
But, if Public Relations is about eyeballs and positive goodwill, one can always use the forces of social media to brute force visibility for the content you create.
But, if Public Relations is about eyeballs and positive goodwill, one can always use the forces of social media to brute force visibility for the content you create.
