In the social media era, long-form investigative journalism is a fundamentally unprofitable business. Legacy institutions like The Washington Post can only survive if a deep-pocketed benefactor views subsidizing its annual losses as a civic duty, similar to funding any other non-profit.

In the mid-2010s, VC-backed media like BuzzFeed operated under a "growth at all costs" mandate where achieving profitability was seen as a failure to spend enough on expansion. This created an unsustainable competitive landscape for privately-owned, profit-focused businesses that couldn't afford to "sell $1 for 50 cents."

Scott Galloway argues that saving a brand like The Washington Post requires more than reinvention. The key is aggressive consolidation (e.g., merging with Bloomberg or NYT) to eliminate overhead and fix an unsustainable cost structure, possibly via a prepackaged bankruptcy.

The primary challenge for journalism today isn't its own decline, but the audience's evolution. People now consume media from many sources, often knowingly biased ones, piecing together their own version of reality. They've shifted from being passive information recipients to active curators of their own truth.

Unlike the family-run New York Times or Wall Street Journal, The Washington Post suffers because its owner, Jeff Bezos, lacks a deep, obsessive passion for the news business. Thriving in modern media requires this "religious zeal" to establish a clear vision and navigate challenges, something a distracted billionaire owner cannot provide.

Contrary to conventional wisdom, trading favorable coverage for access to powerful sources is no longer the best way to get a story. In the modern media landscape with diverse information channels, reporters find more impactful and truthful stories by maintaining independence and refusing to play the access game.

Despite declining viewership, legacy media institutions like The New York Times and Washington Post remain critical because they produce the raw content and shape the narratives that fuel the entire digital ecosystem. They provide the 'coal' that other platforms burn for engagement, giving them unrecognized leverage.

CBS News acquiring Bari Weiss signals a strategic shift: legacy media outlets are buying influential independent creators to regain credibility. As audiences increasingly trust individual voices over institutions, these giants are co-opting top creators to bring that trust—and their audiences—back under a corporate umbrella, reversing the traditional talent pipeline.

The common mantra 'go woke, go broke' is backward. US media revenue cratered 75% due to the internet's rise. This financial brokenness forced extreme message discipline ('wokeness') as a desperate survival strategy to retain jobs and a shrinking audience base. Financial collapse preceded the ideological shift.