Blodget responds to Salmon slam

Reuters blogger Felix Salmon wonders why Business Insider CEO and blogger Henry Blodget is allowed to pontificate as a business journalist after being barred from the securities industry, and Blodget has responded.

Blodget writes, “Felix is not just annoyed by my disclosure.  He is also irritated on behalf of journalists everywhere who have been downsized and now have no place to ply their trade.  If there was any justice in the world, Felix seems to be saying, one of these journalists would be sitting in my chair instead of me.

“Well, let me first say to out-of-work journalists everywhere, I am sorry that the organization and industry that you poured your heart and soul into has cratered.  From the perspective of those getting disrupted, creative disruption sucks.  I can certainly sympathize with not being able to work in your chosen profession.  Happily, I can also respectfully suggest, that, with luck, your fresh start will lead to something better.

“As to whether I deserve to be sitting my chair…

“I feel like I do, in part because I helped create it.  Two years ago, where there is now a thriving company, there was nothing but air.  Now, thanks to the efforts of my tireless colleagues, our trusting investors, and our awesome readers and clients, Business Insider is read by more than 2 million people a month.  It has also, I am happy and proud to say, created 20 full-time jobs, including 10 for journalists.”

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