There’s a growing number of people who believe that digital media’s ad-supported model is broken. Add the co-founder/CEO of Medium, Ev Williams, to the top of that list, now.
Williams, who’s also the co-founder of Twitter, announced on Wednesday that Medium has laid off 50 people—about a third of its total staff—as the company looks to change how it makes money.
As part of the announcement, Williams put forth a dark view of internet publishing:
“It’s clear that the broken system is ad-driven media on the internet,” Williams wrote in a Medium post announcing the layoffs.
“It simply doesn’t serve people. In fact, it’s not designed to. The vast majority of articles, videos, and other “content” we all consume on a daily basis is paid for — directly or indirectly — by corporations who are funding it in order to advance their goals. And it is measured, amplified, and rewarded based on its ability to do that. Period. As a result, we get…well, what we get. And it’s getting worse.” Read more…