We at eSocial Reports are always looking for great articles that we can share with our readers. Today, I am sharing an article by Scott Rosenberg - Axiom that Journalist and the media at large will find interesting.
Facebook and Google execs privately complain about the barrage of critical coverage they face, charging that media companies have a financial incentive to attack them and that media execs are settling scores. They're right.
Be smart: Outrage over Facebook's misuse of user data and failure to rein in election fraud is real. But the zeal that media outlets bring to their Facebook coverage is personal, too. It's turbocharged because journalists, individually and collectively, blame Facebook — along with other tech giants, like Google, and the internet itself — for seducing their readers, impoverishing their employers, and killing off their jobs.
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This blame war is the latest phase of a decades-long grudge match between traditional media companies and new technology giants.
Media companies stand to gain now from a public and regulatory backlash against social media that knocks Facebook and Google down a peg or two. Facebook and Google control roughly 60% of digital ad spending (which totaled $83 billion in 2017), so every peg counts.
Tech leaders mostly make their complaints about media bias off-the-record. Media leaders are more vocal about their point of view.
Between the lines: Many journalists live and breathe social media, so Facebook's lapses and betrayals aren't some distant calamity — they're happening in reporters' own backyards. Yet for all the ingrown enmity, traditional media and social media are more similar businesses than either are likely to admit right now.
Disclosure: NBC is an investor in Axios and NBC News Chairman Andy Lack is on our board of directors.
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