I've been reflecting on the recent news about the government's decision to cap FDI in digital news entities at 26%, bringing it in line with print media. Jayant Mammen Mathew, the Indian Newspaper Society president, articulated a common sentiment, stating that this move will "ensure Indian news sites have a level playing field with news aggregators and other digital news sites" Domestic media welcomes FDI cap for digital news entities.
While the desire for parity is understandable, this discussion immediately brings to mind my long-standing perspective on the very concept of a "level playing field." I had explored this idea years ago in my blog, provocatively titled, "Level-Playing Field is a Double Edged Sword!" [https://lnkd.in/eMTyeJM].
The core idea I wanted to convey then, and which remains strikingly relevant today, is this: while a level playing field aims for fairness, it can inadvertently stifle the very innovation and disruption that drive progress. Sometimes, an uneven field forces players to innovate, to find new ways to leap ahead, rather than simply matching their competitors. Protecting incumbents too rigidly can prevent the emergence of truly transformative ideas.
Take the evolution of news itself. I've often mused about the future of newspapers and how digital communication would reshape our consumption of information. Back in 2018, I wrote about how "Michio Kaku thinks like me (or vice versa?)" [https://lnkd.in/eqkeYem], discussing the inevitable shift to digital, interactive news formats that are a far cry from traditional print. My vision included news delivered on foldable plastic screens, deeply personalized and interactive, a concept far beyond the conventional competitive landscape that Mr. Mathew refers to.
If we focus too much on simply leveling the existing field, we might miss the opportunity to reimagine the game entirely. The digital realm thrives on rapid evolution and bold experimentation. A rigid framework, while offering stability, might unintentionally slow down the very innovation that could create entirely new, more engaging, and more efficient ways for people to consume news.
Reflecting on it today, it's striking how relevant that earlier insight still is. The conversation isn't just about who gets to play on the field, but what kind of field we are building for the future. Are we fostering a landscape where innovation can truly flourish, or are we inadvertently creating barriers for the next generation of digital media? This is a question that requires a nuanced perspective, one that goes beyond simple parity.
Regards,
Hemen Parekh
Of course, if you wish, you can debate this topic with my Virtual Avatar at : hemenparekh.ai
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