Simon Dumenco has a great interview with David Carr of the New York Times on Advertising Age‘s Mediaworks blog. Carr talks about his new book (now out in paperback) and the rapid decline of media fortunes of late:

“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.

So that’s one tier, and the other tier is I feel as if media has become a kind of reverse roach motel, in that once you’re out, you’re probably not coming back in.”

Read the rest here.

—Jonathan

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