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The Wages Of Inequality, Cont’d

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Hulkamania

If a plutocrat wants to destroy a media outlet, it will be almost impossible for all but the best-capitalized to stop:

Thiel’s interview with the New York Times about his legal campaign, in which a $10 million investment on lawyers managed to bring an entire media company to the brink of disaster, is the new required reading in Silicon Valley, especially the bit where he says that it’s “one of my greater philanthropic things that I’ve done.”

Thiel, like most Silicon Valley entrepreneurs, loves to think of himself as a visionary. His first company, PayPal, started as an attempt to create a whole new global currency; since then he has invested most of his time and money into ambitious attempts to change the world. But it’s his investment in a campaign against Gawker, intended to inflict as much damage as he can on Gawker Media and its proprietor, Nick Denton, which could prove to be his most effective – and his most harmful.

Thiel’s tactics in going after Gawker are very, very frightening for anybody who believes in freedom of speech; they’re also extremely effective, in an evil-genius kind of way.

[…]

It gets worse. If Thiel’s strategy works against Gawker, it could be used by any billionaire against any media organization. Sheldon Adelson, Donald Trump, the list goes on and on. Up until now, they’ve mostly been content suing news organizations as plaintiffs, over stories which name them. But Thiel has shown them how to go thermonuclear: bankroll other lawsuits, as many as it takes, and bankrupt the news organization that way. Very few companies have the legal wherewithal to withstand such a barrage.

This is a problem that’s likely to get worse before it gets better.

…JMM:

It all comes down to a simple point. You may not like Gawker. They’ve published stories I would have been ashamed to publish. But if the extremely wealthy, under a veil secrecy, can destroy publications they want to silence, that’s a far bigger threat to freedom of the press than most of the things we commonly worry about on that front. If this is the new weapon in the arsenal of the super rich, few publications will have the resources or the death wish to scrutinize them closely.

The Hogan case, it must be admitted, is not one that makes Gawker look very sympathetic. Hogan’s lawsuit was not at all frivolous, even if the size of judgment was far too high, and even if we assumed arguendo that Gawker didn’t violate Hogan’s legal rights it showed horrible judgment in publishing sex tapes without his consent. But whatever one thinks about the case at hand, the tactics being used against them can be used against anybody.

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