A Real Turnaround
We all knew this was going to be a bit nuts one week before the election. The accusations from the mainstream media and the left, as usual, include all the typical name-calling. Every four years, Hitler is rolled out. Every four years, statements are made that couldn’t possibly be true. But the most shocking thing isn’t that these things are said—it's that some people believe them. As I keep saying, critical thinking is not something taught in school, and it’s obvious.
On Thursday, I have a Substack article coming out about The Washington Post and Jeff Bezos’s open letter. Back in July, I wrote about his difficult mission ahead as he worked to arrest an annual loss of $77 million in 2023 alone. This is no different from any other CEO trying to turn around a company. This just happens to be a hard-left-leaning publication that has lost the trust of its consumers and thus its readers. What they discovered is that the rank-and-file hard left don’t read. Put differently, the market doesn’t exist!
In case anyone noticed, there has been a huge gap in truthful news for some time and a great opportunity for someone to step in and fill that gap. I think this is what Jeff intends to do, and it’s the move any good CEO would make. The letter was truthful, direct, and exactly on point, but, like any CEO facing a turnaround, you have those who fight against change. It’s the story of my life, rebuilding companies.
Twice now in my career, I’ve turned around companies and got them on the right track, only to have them revert to the same old habits, with the same results. It’s as if they intend to defy physics. As Jeff put it, “Reality is the undefeated champion.”
Jeff faces the same challenge as any real CEO. If he gives in, the paper will continue with losses; if he changes course, he stands a chance of surviving. But it’s not guaranteed, and there will be mass casualties along the way. It will still be expensive. Every good CEO knows that massive initial chaos and upset come with the mission. You’d love to minimize it, but the more you’re dealing with a pile of spoiled brats, the harder it is to turn the company. If you read the comments, they sound like two-year-olds who were told “no” in the cereal aisle at Walmart. I can practically hear the foot stamping and screaming through the screen. As I said on X, on what planet is it okay to lose $77 million a year just so you can have your way?
To turn this company around, Jeff Bezos has to fire everyone who misled the public and be very public about it. Everyone who wrote a story that was proven to be untruthful should be immediately fired. Next, fire those who intentionally misled the public and knew it. Keep the honest left-leaning writers. I think the debate is good, but counter it with the same on the right. Don’t hire anyone who can’t write about both sides of an issue or remain glued to the facts. Those writers exist. They are all over Quora.
I think Jeff is doing the right thing, and I give him lots of room to try and make this work. This is one I’d love to fix because of my love of both turnarounds and great writing.