The Economist writes on the battle between the Financial Times and Wall Street Journal, in a face of a downturn in the ad market.
I read both daily (and in fact, the International Herald Tribune). From a readers’ point of view, to get a global perspective, I think all the three papers are a must. From a technology coverage point of view, I still feel there is nothing to beat the FT’s IT supplements. I like the WSJ’s website a lot more: it is the first website I visit in the morning.
Why read all these papers – they don’t come cheap. Reading diversely is a habit inculcated by my father when I was quite young. That has been a huge help for me all my life. I just have to know what’s happening around the world. When I was growing up, BBC World Service (on radio) was my constant companion. Now, its the Internet and the news sites, along with many of the international newspapers and magazines.
A lot of new ideas and thinking is influenced by what I read. It is very difficult to quantify the return on investment. The newspaper may cost a dollar, but the time we invest in reading it and thinking is much more. For me, they have been the key to developing a global mindset. In today’s world, we have to have an international outlook to have any chance of success. For me, newspapers like the FT, WSJ and IHT are what BBC World Service was 15 years ago (and in fact still is) – windows to the world.