Arthur Brisbane, the reader representative of The New York Times, writes for Sunday’s paper about how it could have done a better job of being skeptical about the Facebook initial public offering.
“She said the ‘fire hose of information’ about Facebook — on the Web and in print, in specialized and general media — made it very difficult for small investors to assess the company.
“In my view, that is one reason that The Times should have provided more focus for general-interest readers, who needed help cutting through the clutter. More coverage aimed at small investors may well have led to more scrutiny of the risks.
“But with its specialized finance blog, DealBook, plus its general-news mission over all, the paper is committed to two audiences, and that is a challenge.
“Larry Ingrassia, the business editor, told me the paper writes ‘for a broad and intelligent audience of generalists but also with sophistication for a more informed specialist audience so that they feel that they are learning something from what we are writing.'”
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