Bye-Bye Newspapers

Here is a good post-mortem on the newspaper industry. A sample follows:

With few exceptions, most notably the Wall Street Journal, the newspaper industry fell into the classic trap of underestimating the power of the internet. Not only can the internet do a better and more timely job distributing news but it demolished barriers to entry for news gatherers, editors, and commentators. Who can feign surprise? Go check out the price difference between a web server and a block-long printing press feeding a fleet of trucks.