Ponzi Journalism
February 14th, 2021Via: Matt Taibbi:
News in the Trump years became a narrative drama, with each day advancing a tale of worsening political emergency, driven by subplots involving familiar casts of characters, in the manner of episodic television. It worked, but news directors and editors hit a stumbling block. If you cover everything like there’s no tomorrow, what happens when there is, in fact, a tomorrow?
The innovation was to use banner headlines to saturate news cycles, often to the exclusion of nearly any other news, before moving to the next controversy so quickly that mistakes, errors, or rhetorical letdowns were memory-holed.
The American Napoleon generated controversies at such a fantastic rate that stations like CNN and MSNBC (and Fox too) were able to keep ratings high by moving from mania to mania, hyping stories on the way up but not always following them down. The moment the narrative premise of any bombshell started to fray, the next story in line was bumped to the front.
News outlets paid off old editorial promises with new headlines: Ponzi journalism.
