NEW YORK (TheStreet) -- The media has lost its ability to think for itself. Something happens -- whatever it is -- and intuition immediately fuels tweet after tweet and story after story of echo chamber regurgitation.
It's groupthink at its worst.
Almost to the person you get the same stale -- for want of a better word -- opinion on everything. Case in point -- the deal that brings select three-year old Home Box Office (HBO) (a division of Time Warner (TWX)) programming to Amazon.com (AMZN) Prime customers.
Here's what matters:
- The addition of some HBO programming makes Amazon Prime more attractive. Obviously. But you can say this about dozens of other improvements Amazon constantly makes to its ecosystem.
- The deal highlights the fragility of Netflix's (NFLX) business model. It also underscores what a horrible CEO -- despite his smoke and mirrors and seductive way with the media -- Reed Hastings is. Had he approached competition with HBO differently (e.g., with some humility), he might be getting this deal rather than Amazon. There's no question in my mind he would love to have it.
- Expect more of this type of thing from HBO. They're in the early stages of what will be/is a move fast when necessary, ever-evolving digital strategy.
And, as per a popular talking point, more "young people" will be exposed to HBO programming, thus -- so the theory goes -- motivating them to find a way to catch the network's current slate. Because, of course, that's what most "young people" do these days -- clamor for ways to watch "The Wire" through their Amazon Prime account.