Peter Kafka

Recent Posts by Peter Kafka

The Sirius Story in Two Sentences

Today’s New York Times profiles Mel Karmazin, Howard Stern and Sirius XM (SIRI), the troubled company that binds both of them together. It’s a nice read, but there’s no news there for anyone who has been watching the company over time (if you want an archive of excellent Sirius coverage, check out Digital Daily).

And if you’re time-pressed (it’s 64 degrees in New York City this morning–perhaps you’d like to get outside), there’s no reason to tackle the entire feature story. Because reporter Tim Arango has done a nice job of summarizing his 2,427-word piece in two sentences:

But Sirius XM does have a serious flaw in its capital structure. Its costs, which include servicing its pile of debt, appear to be too high to make the business viable.”


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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work