What could a Jeff Bezos Washington Post look like?

There will be changes afoot at the venerable institution.

Amazon CEO Jeff Bezos has bought the Washington Post. Given the long and storied history of rich people buying newspapers because they want to have fun, it would be perfectly possible to believe that Bezos has no real plans for the paper. After all, this is a man who has spend huge amounts of his own money on projects like recovering engines used in one of the Apollo missions from the sea floor, a $42m clock designed to tick for 10,000 years, and a space flight company. He is clearly capable of doing things with no eye on making a return.

But at the same time, there's no indication to suggest that Bezos views the purchase as a vanity project, or a donation to the future of journalism. And, while the purchase is technically in Bezos' own name, rather than being a corporate takeover by Amazon, that is likely due to the intricacies of valuing the long-term prospects of a newspaper – as well as the fact that Amazon's shareholders would slaughter him. What it doesn't prevent is any interaction between the two. Amazon has expertise in so many areas where the Washington Post – along with most papers – suffers, that a joint strategy could transform publishing.


Amazon offers free next-day delivery to every customer which has signed up to its Prime service. It even offers same-day delivery in major cities; as it expands its distribution centres, expect delivery to get quicker still. When applied to the Washington Post, it's not difficult to imagine that the company could start bypassing newsagents entirely, offering flexible speedy delivery to a location of the customers' choice.

But also consider the fact that printing is a tiny portion of a paper's expenditure. Cover prices are normally enough to just about pay for the cost of distribution, and also to guarantee to advertisers that they are speaking to a wealthy audience. But suppose that Amazon starts shipping it for free to customers, or people who've purchased certain items. It would massively increase readership, which would please advertisers; but would also only involve people who were proven to spend money online, which could retain some of the prestige that advertisers like.


Obviously the match between the Washington Post and the Kindle is one made in heaven. Periodical subscriptions on the devices have taken a back seat to the sort of thing Amazon likes pushing on the Kindle Fire, such as games, movies and music; but there's still a lot more to do in the space, and the Washington Post could do it well.

But more than simply serving content, where Amazon really comes into its own is in its control of the data behind its customers. Not only is it another layer of useful information to know whether a particular customer is also a Post subscriber; it also comes right back to questions of advertising. Kindle subscriptions to the paper could leverage the company's data stores to deliver targeted adverts, and there's no real reason why the same couldn't be true of print subscriptions (beyond boring questions of cost, that is. But Amazon is a company which bought robots to make their warehouses more efficient. If they want more flexibility with their printing presses, they can find a way).

Alex MacGillis at the New Republic argues that the Amazon mentality is antisocial, one which degrades workers and dissolves community ties. In an age of Tesco and Wal-Mart, it's hard to view brick-and-mortar stores as any more community oriented than Amazon, but if anti-social behaviour on the small scale is what it takes to keep journalism alive on the national stage, it is probably a step worth taking.

Jeff Bezos. Photograph: Getty Images

Alex Hern is a technology reporter for the Guardian. He was formerly staff writer at the New Statesman. You should follow Alex on Twitter.

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Stability is essential to solve the pension problem

The new chancellor must ensure we have a period of stability for pension policymaking in order for everyone to acclimatise to a new era of personal responsibility in retirement, says 

There was a time when retirement seemed to take care of itself. It was normal to work, retire and then receive the state pension plus a company final salary pension, often a fairly generous figure, which also paid out to a spouse or partner on death.

That normality simply doesn’t exist for most people in 2016. There is much less certainty on what retirement looks like. The genesis of these experiences also starts much earlier. As final salary schemes fall out of favour, the UK is reaching a tipping point where savings in ‘defined contribution’ pension schemes become the most prevalent form of traditional retirement saving.

Saving for a ‘pension’ can mean a multitude of different things and the way your savings are organised can make a big difference to whether or not you are able to do what you planned in your later life – and also how your money is treated once you die.

George Osborne established a place for himself in the canon of personal savings policy through the introduction of ‘freedom and choice’ in pensions in 2015. This changed the rules dramatically, and gave pension income a level of public interest it had never seen before. Effectively the policymakers changed the rules, left the ring and took the ropes with them as we entered a new era of personal responsibility in retirement.

But what difference has that made? Have people changed their plans as a result, and what does 'normal' for retirement income look like now?

Old Mutual Wealth has just released. with YouGov, its third detailed survey of how people in the UK are planning their income needs in retirement. What is becoming clear is that 'normal' looks nothing like it did before. People have adjusted and are operating according to a new normal.

In the new normal, people are reliant on multiple sources of income in retirement, including actively using their home, as more people anticipate downsizing to provide some income. 24 per cent of future retirees have said they would consider releasing value from their home in one way or another.

In the new normal, working beyond your state pension age is no longer seen as drudgery. With increasing longevity, the appeal of keeping busy with work has grown. Almost one-third of future retirees are expecting work to provide some of their income in retirement, with just under half suggesting one of the reasons for doing so would be to maintain social interaction.

The new normal means less binary decision-making. Each choice an individual makes along the way becomes critical, and the answers themselves are less obvious. How do you best invest your savings? Where is the best place for a rainy day fund? How do you want to take income in the future and what happens to your assets when you die?

 An abundance of choices to provide answers to the above questions is good, but too much choice can paralyse decision-making. The new normal requires a plan earlier in life.

All the while, policymakers have continued to give people plenty of things to think about. In the past 12 months alone, the previous chancellor deliberated over whether – and how – to cut pension tax relief for higher earners. The ‘pensions-ISA’ system was mooted as the culmination of a project to hand savers complete control over their retirement savings, while also providing a welcome boost to Treasury coffers in the short term.

During her time as pensions minister, Baroness Altmann voiced her support for the current system of taxing pension income, rather than contributions, indicating a split between the DWP and HM Treasury on the matter. Baroness Altmann’s replacement at the DWP is Richard Harrington. It remains to be seen how much influence he will have and on what side of the camp he sits regarding taxing pensions.

Meanwhile, Philip Hammond has entered the Treasury while our new Prime Minister calls for greater unity. Following a tumultuous time for pensions, a change in tone towards greater unity and cross-department collaboration would be very welcome.

In order for everyone to acclimatise properly to the new normal, the new chancellor should commit to a return to a longer-term, strategic approach to pensions policymaking, enabling all parties, from regulators and providers to customers, to make decisions with confidence that the landscape will not continue to shift as fundamentally as it has in recent times.

Steven Levin is CEO of investment platforms at Old Mutual Wealth.

To view all of Old Mutual Wealth’s retirement reports, visit: www.oldmutualwealth.co.uk/ products-and-investments/ pensions/pensions2015/