AUDIENCE MEMBER 00:08
One of the more surprising opinions I’ve heard this year is that we never really had journalistic ethics – that the news has always been colored yellow in the voice of their proprietors.
With 9 decades of observation under your belt, does that ring true? Or does the recent business model shift from subscriptions to workout?
CHARLIE MUNGER 00:24
No I think that the sole proprietors, the people that owned the network news and Time magazine, and Newsweek, and the monopoly newspapers, I think those few were pretty good. And this current bunch are deliberately lying because it sells better.
I like the old products of nepotism and monopoly. It was better for us than these new guys. These guys are so good at marshaling hatreds.
You know, politics was once called by some famous English politician the art of marshaling hatreds. We now have news outlets that we all follow and they’re good at marshaling hatreds.
Well, some hatred might have some constructive use, but they’re overdoing it. Hatred is too intense is cabbaging up the minds. It’s cabbaging up the minds of the broadcasters and now, cabbaging up the minds of the people who watch.