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David Carr: Journos Lived Rich, Died Fast

3611075776_a8455eb440Worth repeating: David Carr on the how journalism lives and dies now…and why.

I think one thing that people do not understand is, as recently as four or five years ago, to be a member of Manhattan media, you weren’t rich, but you lived as a rich person might. You went to the parties that a rich person would go to, you ate the food that a rich person would eat, you drank the vodka that a rich person would drink, and you’d end up in black cars, and you’d end up sometimes on boats and in helicopters. We lived as kings, and it convinced us, I think, that there was a significant underlying value to what we did. And I think we’re finding out now that the real, actual value of journalism in the current economy is not that high, and that what the dot-com bubble did and Tina Brown and others did to boost the value of journalism and writing to the point where some people were being paid $5 a word — well, I think there are a lot of people right now, really talented people, who are working for 50 cents or a dollar a word, and you know what? It’s pretty hard to make a living doing that.”

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