Tomorrow's Business Today
I'm a journalist, get me out of here
Yesterday we asked if an anecdotal flood of hacks looking to become flaks was statistically true, and pondered why that might be.
Money, is the main reason. Pay has shrunk to the point where hacks feel they have to look further afield. The risk is that national newspapers will either become a game for very young people to try and muster some experience or for trustafarians for whom the salary is incidental.
The feedback from the PR trade on my hunch was: the trend is clear, but we aren’t entirely sure we get the right journalists.
The hacked off hacks deciding to make the move are the ones least wedded to journalism, most likely to see hackery and flakery as too sides of the same coin.
They bring with them much that is helpful.
But the flak trade wonders if the person it really wants is the person who simply wouldn’t move into PR in the first place.
The awkward squad member who has decades of experience of newspapers and of industry might bring with him a bulging contacts book and a real understanding of how the media works and is likely to react.
That person, in so far as he engages with it, hates the PR industry.
So instead the nicer, more corporate hack gets hired.
One problem with jobs in PR agencies is that they all look the same.
The firms want staff to manage accounts and clients and make money.
If there were roles different to, or wider than, that, the jobs might appeal to a different sort of hack.
Press release of the day
Robinhood is the most influential fintech company of 2021, says this from Utility Bidder.
That’s based on its search volumes and its high VC funding of $5.6 billion.
Otherwise, payments firms such as Stripe and Wise and bitcoin businesses such as Gemini dominate.