5 minute read

Why The Media Has Failed Us

The Power Of Perspectives    5 minute read

Why The Media Has Failed Us

Perspectives are pivotal to the progression of society. The way I see the world is very different to how you see the world and how others do. Other perspectives make us continuously question how firmly or loosely we hold our own. We continue to grow as people by doing so, whether it’s through conversations, reading articles or following global leaders and influencers. Personally, I challenge myself to see the world through different perspectives each and every day, as it helps me make informed decisions as an entrepreneur.

We conducted an experiment on the power of contrasting views and the magnitude to which they differ, even when a group of individuals are looking at the same object. Below is our 75 second highlight reel for you to see just how powerful perspectives are:

Seizing Free Thought 

The current media industry seems to limit the ability for individuals to form their own opinions, by presenting singular schools of thought on major issues, and more importantly, monumental global decisions.

It is well known that traditional media is biased – whether it’s the likes of Rupert Murdoch in control of his media empire, or more traditional left/right wing publication, each influencing our perspective. Sometimes it is for the positive, and more often than not, for the negative, and by pushing a tunnel vision view on a particular topic, it forces us to believe it as fact instead of a one-sided recounting of events.

As the CEO of a disruptive media company, this frustrates me. Wasn’t the traditional notion of journalism and the media industry meant to help uncover and investigate issues that the public needs to know about, as opposed to forcing readers to swallow the pill of the particular viewpoint decided by those at the top? When did the media start to think it was smarter than its readers? When did it stop trusting the audience to form its own opinions, with the media fulfilling its roles to inform and to educate?

The perception of the EU has always been mixed, as you can see from the chart below. Contrary to the Brexit vote result, for the past year or so we have been very pro-EU according to a poll by YouGov.

eu graph

Pundits, bookies and the markets had all assumed the British public would vote Remain in the referendum back in June. How could they get it so wrong? Perhaps if we take a deeper look at the media coverage of Brexit, of course with hindsight, maybe it shouldn’t have been as big a surprise as it was. We’ve let go of holding the media accountable and lost our chance to make up our own minds on the events that define our times and potentially our future.

The sleep of reason produces monsters.

Francisco Goya

 

eu graph 2

(Source: Loughborough University)

Taking a look at the above chart is a start to uncover how the fate of the UK was decided by the media. The chart compares the weighting of Remain/Leave by circulation. Therefore, it is clear that the Leave camp had a lot more weight behind it, influencing readers. Then, when we consider the nature of the headlines used to push a particular agenda, which may have been in the interests of the shareholders, or board of the organisation, we see the stark comparison of front pages:

eu pic 3

As an avid reader of a number of newspapers, all I wanted was a balanced view of what Brexit meant to all of the stakeholders involved – whether Europeans, bankers, markets ranging from property and FinTech, or Millennials and the elderly.

screenshot_2016-10-12_15.54.46_1024

As an opinionated individual, on a vote so important, I want to understand exactly why Leave thought Brexit was the right cause of action, while Remain thought the contrary. By doing so, voters could have used their perspectives, experiences and understanding of the situation to make an informed decision above and beyond the propaganda on both sides.

By simply looking at the “£350m extra per week for the NHS” line and how many people blindly believed it because Nigel Farage and the media told them so, it’s clear that we lost the chance to make an informed decision. And it worries me that it seems the downward path may continue. So what now?

The Technology/Information Revolution

Twitter is a superb source to identify perspectives from all over the world. However, it is chaotic and almost too easy to rattle off a provocative 140 characters on a topic or issue without substantive evidence to back it up. This is where The Market Mogul comes in. We encourage people from all perspectives to voice their opinions in long form on why they are passionate about a particular point of view.

Going back to Brexit, we didn’t just cover the Leave and Remain camps, but what it meant for those in Europe, the US, and Asia, from bankers to the working class, and therefore giving us the ability to unlock perspectives and open people’s minds to the other sides of the argument. We are proudly free from editorial and political bias and encourage long-form debate.

For us, it was a conscious effort to make sure our homepage was actively contrasting all perspectives, despite the political views of myself and my team, because we are technology driven, and being free from bias is so intrinsic to our core values at The Market Mogul. Below are just a few of the hundreds of perspectives we published in the run-up to the Brexit referendum:

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Read The Market Mogul to uncover new and different perspectives on important topics and issues. Or even better: we want to hear about your perspective, and we want to share it with the world. Our 2,000+ authors have joined us in changing both global perspectives and the media landscape. You should too.

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