I had a couple conversations today which turned on the role of private equity in today’s economy and the importance of business models that align with a company’s purpose. Both of them were relevant to our soon to be completed drive for the TPM Journalism Fund. In the new episode of the TPM Social Club podcast Joe Ragazzo and TPM head of product Derick Dirmaier talk about the impact of private equity on sports. This involves caricatures of course but I think of Venture Capital and Private Equity as sort of twin players, often with perverse and deleterious effects on the lives of companies, the first on the ascent of the rocket, the second on the descent. Both have had deeply negative impacts on the news and journalism industry. In both cases that’s because scale and market dominance don’t play the same role in the news business as they do for social media or the production of widgets and many other kinds of business. Most require being rooted in the lives of particular communities, often geographical communities, or having a more than transactional relationship with an audience.
Editors’ Blog
A follow up to last night’s post on Mike Huckabee, now U.S. Ambassador to Israel. Axios reports that Donald Trump is pretty conspicuously declining to endorse Benjamin Netanyahu for Israel’s October election. I would be remiss I didn’t explicitly note that it is unprecedented and outrageous that a U.S. president is even considering a formal endorsement in the election of an allied country. They’ve often had preferences of course. But we used to have respect for the internal affairs of foreign governments, especially allied ones. In any case, we don’t now. And here we are.
This appears to be part of Trump’s deliberate move away from Israel and the closely related annoyance that Israel continues to complicate his other priorities, which are one part conventional geopolitics and one part corrupt deals with various Gulf States. But there’s another factor Axios points to which we’re familiar with from the U.S. endorsement game. Netanyahu’s polls look bad. And Trump doesn’t want to back a loser.
Here’s something to keep a close eye on. Mike Huckabee, who as part of Trump’s fun house diplomacy is now the U.S. ambassador to Israel, went on X yesterday and called the siege of a Palestinian family’s West Bank home by a group of Israeli settlers a “horrific act of terror.”
Now what’s happening there is that and worse. In many ways, what’s been happening in the West Bank for the last year and a half is worse than what is happening in Gaza, though the death toll is orders of magnitude less. But this doesn’t sound like Huckabee. He’s one of the biggest supporters of the settler movement and the most violent and nationalistic parts of it.
So what’s up here?
Please contribute today to get us over the finish line. Out of $500,000 we needed to raise this year for the TPM Journalism Fund, we have only $27,789 to go. Just 5% more to go. Amazing. We thank you so much. If you’ve been waiting for the right moment to contribute this is it. Just click here. Thank you.
Update: Just $431 to go before we hit $475,000!
I noted a few days ago how many of the news stories of the day are knock-on effects of earlier episodes of Trump’s cupidity or grandiosity. Airport Food Truck-Gate goes back to the wildly corrupt and unconstitutional personal gift of a plane; the Reflecting Pool prosecutions go back to his whim and rushed decision to make the bottom of the Reflecting Pool blue and then the way in which he was embarrassed when his no-bid contractors messed it up. I want to return to one aspect of the plane story.
Yes, it’s corrupt, silly, stupid, etc. But Trump got the gift from the royal family of Qatar. Qatar isn’t any gulf state. It’s not UAE or Saudi or Kuwait. Qatar’s regional brand, their niche in the complex geopolitics of the Gulf, is that they’re close to both sides. They host a U.S. military base. They have decent relations with the U.S. They also have close relations with Iran. They were until recently the host of Hamas.
We’re almost to the critical goal we need to hit in this year’s Annual TPM Journalism Fund Drive. We have only $37,866 to go. If you’ve been planning on contributing please make it today. We’re almost there. It’s super important. Click here.
Update: Now just $33,853!
Update II: Now just $31,600!
Something went wrong. Please refresh the page and/or try again.
The administration’s plans to manipulate the Census for political gain are both unoriginal and unsettling.
Featured
READ: A New Draft Rule for the Census Seeks Sweeping Changes to How Political Power Is Allocated
PODCASTS
RECENT
Something went wrong. Please refresh the page and/or try again.
