I’m not sure how I feel about this. I used to read Time magazine regularly, often alternating subscriptions with Newsweek (what happened to them?). Of course that was back when the Time Person of the Year had real gravitas and a typical issue would run over a hundred pages. Now it’s more like a newsletter — the staples are almost pointless.
This is a start-up. They have been opportunity constrained, but we are here to unshackle them.
— Marc Benioff
Can the People Who Almost Brought Down the News Business Save It?
Was the billionaire founder and chief executive of Salesforce, the digital enterprise hotshot of San Francisco, talking about a new bitcoin company he was interested in investing in? Or perhaps a big opportunity to get in on the ground floor of a cool artificial intelligence start-up?
No. Mr. Benioff was enthusiastically touting one of the oldest and most storied publications in the United States, which he and his wife, Lynne, had just forked over $190 million in cash to buy.
That would be Time magazine, of course. It was indeed a start-up once — back in 1923, when it was founded by Briton Hadden and Henry Luce as the first weekly newsmagazine in the United States. After dominating journalism for quite a lot of the 20th century, the title fell on hard times in the internet age …