Huge disadvantages of the fabulously wealthy include no one around with the guts and wit to say, “You’re being stupid!” Another, more intractable one is the delusion if you are rich you must be brilliant…in everything.
Over the past decade or so, John Henry has pushed his The Boston Globe and Red Sox to the edge of ruin and seems to have no sense of that. He is the ugly side of capitalism or one of the ugly sides. He jacked up ballpark/ticket prices to the highest in baseball. Likewise, he is huge in expensive newspaper paywalls and has made both home delivery and online Globe prices the highest in the nation, higher even than papers like the Wall Street Journal and Financial Times. Those two, at least, give you info to earn you money back and more. The Globe simply relies on its almost monopoly status (there is an asthenic Murdoch-owned tabloid for a weak competitor.)
This past week, Henry blew it again. He’s already pared the writing/reporting staff to the nub. Now he went after the delivery contractor, switching to a cheaper vendor. That makes perfect capitalistic sense; bottom line, don’t you know. The problem is that the new contractor has already failed elsewhere and certainly plonked here.
Let us consider Henry’s empire and whether the delusional rich can ever objectively judge their decisions. I suspect you already know my conclusion.