Asked how they'd spend the $293.7 million they won in November's record Powerball lottery, a Missouri couple told reporters they plan to buy a Camaro. They plan to travel to China. They might adopt a second daughter. They'll up their grandkids' college tuition. Okay, so that leaves $293.5 million.
They obviously have absolutely no idea how much money $293.7 million is.
Mark and Cindy Hill seem like an average couple in their early fifties. Working class. Salt of the earth.
But man, what a waste of money to give all that loot to them! $200,000 would have been more than enough to change their lives. Not really knowing what to do with such a massive sum, the Hills will likely waste most of it on America's self-perpetuating charity industry, which says that spending up to 35 percent of donor money on six-figure executive salaries and other luxuries is perfectly acceptable.
It is, of course, the Hills' quarter-billion-plus to spend or squander. Not mine. I get it; I grew up under capitalism.
Let's get something straight. I'm not jealous. I can't envy the Hills because there is no way I could have won. This is because I don't buy tickets. Whether I play or not, I figure the odds of winning are basically the same.
However, I do know how I'd spend their money.
Like the Hills, I'm a Midwest boy without fancy tastes. I'd pay off my mortgage and credit cards. My mom loves the beach; I'd buy her a house over the ocean. My car is eight years old; I'd buy one of those new Challengers.
Which would leave me $293.4 million.
Lottery winners always talk about helping their families. What about their friends? I have friends whose lives would be instantly transformed by $5 million checks. Brilliant cartoonists who could quit grueling day jobs and focus on developing their careers. Ailing writers who could finally get medical care for chronic conditions. Aspiring entrepreneurs who could capitalize their great ideas. People who are stressed out because work is scarce or nonexistent and are having trouble making ends meet. I have a couple dozen of friends like that. Helping them out would cost me about $100 million. Money well spent.
I want to help transform the media. That's my big dream. Unfortunately, I will never realize it because I don't have access to the kind of capital necessary.
The disintegration of print newspapers and the failure or refusal of digital media to deeply invest in serious journalism and smart commentary and satire is making Americans stupider, allowing evil corporations and corrupt, lazy politicians to thrive.
Warren Buffett is a smart man, picking up newspapers at rock-bottom prices. Personally, I'd buy The Los Angeles Times now that its parent, the Tribune Company, has emerged from bankruptcy. Experts guesstimate you could pick the Times for $185 million or less.
(Full disclosure: I draw cartoons for the Times.)
Aside from the fun of running a major metropolitan daily newspaper -- 12 pages of full-color comics! -- I'd hire a kick-ass investigative reporter to infiltrate government for a year or two and then cough up all the dirty secrets! I'd create an editorial page that runs no one to the right of Mao Tse-Tung! I think the Times would be a fab investment.
People say newspapers are dying. Specific companies are hurting, many are dying, but the dead tree form is here to stay. They said radio was dead after TV came along, but radio is bigger today than ever. TV killed old-timey radio -- plays, variety shows. New formats -- album-oriented rock, news talk -- emerged. Old-fashioned, fat, lazy newspapers basically minting money from gigantic office towers in the centers of major cities are on the ropes, but as long as print can do something that digital can't, it will survive and thrive. TV can't replace radio because you can't (or at least shouldn't) watch TV while you drive. Similarly, an iPad or a Kindle can't replace a print newspaper's awesome disposability, portability and -- an advantage that people are just starting to become aware of -- memory retention.
Print magazines and newspapers will get their groove back when they understand what they are for. The Internet is for short updates. The Web and apps tell you what happened and who won the game. Print is for long-form analysis. Print tells you why you should care about what happened, walks you through how the game was won, and how the season is shaping up.
We need serious analysis. But no one wants to read 15,000 words on a smartphone.
These days, the clueless barons of print are screwing up big time. Tina Brown just closed Newsweek after using the glossy to try to out-Internet the Internet with full-page photographs, vacuous "charticles," and more lists than you can shake a Daily Beast at. The publications that are doing okay are those that are embracing in-depth feature stories, like The Economist and Vanity Fair. Publishers are going to figure out that that the destiny of print is more, longer, smarter, edgier content.
The future of newspapers in the United States will look a lot like Europe, where nations have a few big national newspapers, each of which serves a particular political orientation or interest, like sports or finance, and individual communities are served by hyper-local outlets and, possibly, regional ones that would go to, for example, people in the Southwest.
We already have a few big national newspapers. USA Today was first, but it lost its way before it found one. The New York Times is our big national paper of news and high culture. The Wall Street Journal, of course, is the national paper of finance. (Under Rupert Murdoch, the Journal is muscling in on the Times' territory.) The Washington Post should be the big national political paper, but its management doesn't get it, so there's an opening there. Anyway, there should be a big national newspaper focused on entertainment -- video games, film, music, I'd also include books -- and the logical candidate is The Los Angeles Times. They have the contacts, the location, and the brand recognition to pull it off. What they need is for someone to point them in the right direction.
Imagine if it worked! Not only would you make a killing, you'd establish a template to revive American journalism. Don't forget, over 90 percent of all news stories originate in newspapers.
Which would leave me with about $8 million. Call me the man who would be king minus the panache of Sean Connery, but the salary of a soldier in the Afghan national army is about $2,000 a year. The Taliban pays closer to $4,000. So I could hire 2,000 badass Afghan mercenaries for a year for my spare Powerball change and take over a province or two after the U.S. pullout and the civil war heats up. I'm not exactly sure whom we'd fight. Maybe Turkmenistan because, well, why not? Perhaps we'd just sit in the Hindu Kush and shoot at pictures of Arianna Huffington while reading back issues of the Los Angeles Times. I've always wanted to test-fire an RPG.
I may never win a Pulitzer, but no one can ever take having been a cartoonist-columnist-newspaper-baron-warlord away from you.
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