The Emporer Wears Some Tattered Clothes

David Carr of The New York Times reflects on what it means to be in the traditional media business today:

For those of us who work in Manhattan media, it means that a life of occasional excess and prerogative has been replaced by a drum beat of goodbye speeches with sheet cakes and cheap sparkling wine. It’s a wan reminder that all reigns are temporary, that the court of self-appointed media royalty was serving at the pleasure of an advertising economy that itself was built on inefficiency and excess. Google fixed that.

I hear what Carr is saying, but he kind of loses me with those last three words.