Sustainable business models in journalism are still being explored, such as winner-take-all and philanthropic support models.
Visionary figures can have flaws that impact decision-making and organizational culture.
Rationalization and blind belief in the business world can lead to questionable practices.
Cults of personality around business leaders can hinder collaboration and critical examination.
Deep dives
Journalism in the Digital Age
The state of journalism today is concerning, with declining funding and losses in local newsrooms and magazines. Sustainable business models are still being explored, such as the winner-take-all model adopted by the New York Times or the philanthropic support model used by the Washington Post. However, many new business models have failed to provide a sustainable solution. The dominance of platforms like Google and Facebook in advertising revenue has further impacted the journalism industry. Despite this, there is still a need for journalism to hold power accountable and provide transparency and intellectual honesty.
Flaws in Visionary Figures
Visionary figures often have flaws that can either enhance or hinder their success. The ability to captivate others with a grand vision can be appealing, but it does not necessarily guarantee success. Flaws in character can vary, such as a lack of transparency, arrogance, or a disregard for ethical considerations. While some flaws may not matter in the context of business, the impact of these flaws on decision-making and organizational culture should be carefully considered.
Rationalization and Blind Belief
In the business world, rationalization and blind belief can cloud judgment and lead to the acceptance of questionable practices. Rationalization allows individuals to justify actions in the pursuit of profits or success, while blind belief hinders critical thinking and skepticism. The allure of charismatic leaders and the belief in their abilities can overshadow concerns and create a culture where belief is prioritized over objective analysis. Encouraging transparency, intellectual honesty, and a willingness to question beliefs can help counteract these tendencies.
The Impact of Cult of Personality
A cult of personality around a business leader can have mixed consequences. While it may inspire admiration and followership, it can also hinder collaboration, question the validity of criticism, and mask flaws within the organization. Cults of personality may distract from critical examination and emphasize the power of the individual rather than the collective efforts of a team. It is important to differentiate between charisma and effective leadership and to foster collaborative and open environments within businesses.
Fracking industry profit growth
Most of Valiant's profit growth was not coming from increasing prices on drugs, but from volume, specifically the top twenty drugs and excluding recent acquisitions.
Struggles with leaving things out in writing
The speaker struggled with knowing what to leave out in her writing, as every fact seemed equally compelling. She received advice to focus on finding the narrative and conveying the essence of the story, while omitting unnecessary details.
The importance of curiosity in journalism
The speaker emphasizes the importance of curiosity in journalism and how it fuels her passion for uncovering interesting stories. She believes that being genuinely curious and open-minded during interviews allows her to extract valuable information from her sources.
Best-selling author of The Smartest Guys in the Room and All the Devils are here, Bethany McLean, discusses how to write a story, the behaviors of CEO’s, visionaries and fraudsters and so much more.
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