Once upon a time, there was a Paper of Record. They proudly claimed that moniker because they valued journalism. They valued getting the facts before broadcasting the headline. For decades, they built the most trusted newspaper in the land. And that newspaper was called the New York Times.

Then came the internet. A gaggle of hoodie-wearing flip-flop dudebros moving fast and breaking things nearly put the Times and other outlets out of business. Now, anyone could have a website and report the news they wanted, like Matt Drudge, whose news shaped opinion rather than informed the public.

The Times rallied and evolved, becoming the most-read newspaper online, where they have remained since the turn of the millennium. But clickbait changed the way news was delivered. Now, the headlines had to bring eyeballs to websites. The more outrageous the headline, the more likely the clicks, and the more ad revenue from Google and other traffic-based ad servers.

This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit sashastone.substack.com/subscribe