“I think it would be fun to run a newspaper.”
THE QUOTE IS from Charles Foster Kane, the character based on William Randolph Hearst in Orson Welles’ 1941 classic Citizen Kane. But it could have been Amazon kingpin Jeff Bezos this August when he bought The Washington Post. What can you get for the man who has everything? Maybe he’d like a newspaper to play with, preferably one with global political clout.
Unlike Charles Foster Kane or Rupert Murdoch, Bezos seems disinclined to monkey with the content of the Post’s coverage. His business interests may require certain government policy directions—i.e. free trade and no unions—but on those questions the Post is already with him. They differ on net neutrality (the concept that providers of internet access should not be able to discriminate against or give preference to specific internet service or content providers), so that will be one to watch. But Bezos comes to the Post saying he essentially agrees with the paper’s politics. In fact the Post’s reputation as a credible voice for corporate centrism seems to be a large part of what Bezos wants for his $250 million.
This may explain why Bezos, a titan of the rising digital world, would weigh himself down with an ancient “legacy” institution. It’s an old American story. When you get rich enough (Bezos’ fortune is estimated at $27 billion), you don’t want more money, you want power and respect. The same process played out with the robber barons in the last century. It’s just that today the evolution happens much faster. It took three generations for the Rockefellers to go from oil tycoons to philanthropists and politicians; contemporary barons such as Bezos and Bill Gates have made the switch within a couple of decades.