The Lindy effect says that the observed lifespan of a non-perishable item like a business or idea is most likely to be at its half-life. So, if a business is 100 years old, it should expect it to be around for another 100 years. And a business that has been around for 10 years should be around for another 10 years. Under the effect, the mortality of a business actually decreases with time.
Apply this to reading and you see the benefit in reading books by greek and roman philosophers and the great thinkers from the past 1000 years. The new hotshot bestsellers from 2–3 years ago are mostly repackaged super basic ideas that were described hundreds of years ago.
If knowledge is like a tree you have to start with the roots and the trunk, before you branch out into the details. The leaves and branches come and go, but the roots and trunk stay. Read old stuff!