The Money in Media

money_into_a_piggybank

The richest people in America are spending enormous amounts of money in buying and developing news and information media.

For one example, look at Quartz magazine. Ever hear of it? I hadn’t, until recently. Here’s their staff list:

Meet the Staff

Scroll all the way down. This is an amazing amount of high-paid talent for a little known media outlet. (By comparison, the New Pop Lit staff is two people, who both work other jobs.) Someone is making a huge investment in the Quartz project. But who?

Quartz is owned by Atlantic Media, whose flagship publication is The Atlantic, but which also publishes National Journal, Defense One, and other brands. Atlantic Media is owned by David G. Bradley, who recently sold a majority stake in The Atlantic to the Emerson Collective, which is owned by Laurene Powell Jobs, widow of Apple founder Steve Jobs.

The Emerson Collective’s chief message is pro-immigration and pro-global economy. Which is unsurprising, given that the Apple fortune was built via the global economy; i.e., low wage sweatshops in China. Like a lot of U.S. tech companies, Apple also depends and has depended on a steady influx of immigrant employees.

Laurene Jobs net worth is $19.7 billion, according to a recent estimate. Without low-wage labor, would this amount be lower? Would Apple have made slightly less profit– but perhaps protected or created more jobs for American workers?

The point is that billionaires like Laurene Jobs and David G. Bradley are controlling the media message– via publications like Quartz, The Atlantic, and a panoply of other well-funded outlets.

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