The Double 2007 Subprime Collapse and the Death of the Printed Newspaper
What happened
As the massive subprime mortgage crisis began to violently destabilize global financial systems from New York City, United States, a parallel digital revolution triggered the rapid bankruptcy and collapse of dozens of historic printed newspapers. The sudden, massive loss of advertising revenue combined with the explosive rise of smartphones forced print media into freefall, fundamentally altering how human beings consume information. This dual economic and technological collapse marked the definitive end of the traditional analog media era.
Literary impact
The rapid demise of traditional print newspapers completely transformed the publishing landscape for modern poetry. It forced the literary world to quickly pivot toward online journals, digital blogs, and social media poetry, giving rise to an entirely new aesthetic of bite-sized, accessible, hyper-modern digital verse.
Source: Wikipedia