Huffington Magazine Issue 61 | Page 32

Voices nopoly winnings into public goods like concert halls and universities. Perhaps this is “the beginning of a phase in which this Gilded Age’s major beneficiaries re-invest in the infrastructure of our public intelligence,” suggested James Fallows. That would be wonderful. Yet maybe the deal signifies something much simpler and more hopeful for the state of American journalism: Perhaps Bezos thinks he can make money by producing and distributing consequential work. As Bezos launched Amazon in the mid-1990s and then forged it into a colossus, he and his partners delighted in turning conventional wisdom on its head. The Web, it was said, was destined to destroy book publishing. All the words would live in what we now call the cloud. Anyone with connectivity would become their own publisher, bringing down those elitist institutions that had long exacted their rents by maintaining their status as gatekeepers to literary taste. The owners of the presses would see their monopolistic grip eroded by the Internet — the same sort of meritocratic celebration that has more recently formed the corpus of obituaries for great print newspapers. PETER S. GOODMAN HUFFINGTON 08.11.13 Yet in one of the delicious ironies of the dawn of the Web, Bezos and Amazon proved that the same technology that was supposed to undermine text on the page and eviscerate its business model could in fact be harnessed to sell more books than ever. Maybe he thinks he can duplicate the trick by retooling another supposed casualty of the Web — serious-minded journalism. It’s worth bearing in mind that Bezos never accepted the charge often thrown at his enterprise: ... the Washington Post ... is now owned by someone with a demonstrated track record of harnessing the Internet to rejuvenate something already established and meaningful.” that Amazon was basically just another Walmart built on fiber optics instead of bricks and mortar. His didn’t aim to become merely a faceless purveyor of commodity goods that would undercut the local merchant on price alone. He described his mission as one of erecting an updated, more sophisticated shopping experience. He would use the technological