Part of the joy of working in digital policy in the UK is that many of your days start like this:
I, a Tory politician, have a brilliant plan / erudite commentary / a policy announcement on tech policy strategy. Click here to read it in this EXCLUSIVE Elite Broadsheet Newspaper piece.
We all know full well that this is how the game of politics works. These brilliant plans, erudite commentaries, and policy announcements aren’t made for you plebs. They’re made for the machine to feed the beast inside it.
The bipartisan deal contains a pot of money to repair America’s roads and bridges, and build a few more besides. This is the way we usually do infrastructure in America. First we build a ton of roads and bridges that are highly expensive to maintain, especially with our ruinously high construction costs (see this recent article by Jerusalem Demsas). Then, because costs are so high, we wait for a long time to repair the roads and bridges, until civil engineers start screeching, roads get potholed, and there’s a bridge collapse or two. Then we muster up the political will to throw the requisite shit-ton of money at the problem, the potholes and weak bridges get repaired for twice the amount it would have cost had we done it on a regular schedule and three times the amount it would cost if we were a normal rich country. And the whole cycle begins again.
I’ve been looking at this chart a lot over the past few weeks.
It shows us that print ad budgets were doing just fine all the way though the first decade or more of the consumer internet. There was even a little spike upward for the Dotcom bubble. Then the financial crisis and recession of 2008/9 caused a step change down, but when the crisis was over the budgets didn’t come back. Instead, the market had been reset, and budgets have been falling steadily ever since.
You might call this the Will E Coyote effect - you’ve run off the cliff, or the cliff has disappeared from under you, but there’s a brief moment while your legs windmill in the air before gravity kicks in. It can take a while for the inevitable to happen, but then, as Lenin pointed out, you get a decade of inevitable in a week.