Mitch Goldstein’s Post

Encouraging to see another group of respected editors and journalists going their own way and trying to carve out a sustainable business model in an increasingly unsustainable industry. From 404 Media's about page: "Much has been written about the failing business model of new media. We have watched how new media companies fail, and it’s not because of a lack of audience, revenue, impact, or vital work. New media companies fail because of a growth-at-any-cost mentality, and venture capital investments made at absurd valuations. Most importantly, astronomical overhead costs make it impossible for journalists to out-earn the cost of expensive office space, the ever-changing whims of management, executives’ salaries, the cost of unnecessary enterprise software, and an endless parade of consultants brought in to figure out what’s wrong. It doesn’t have to be this way, and at 404 Media, it will not. We propose a simple alternative: pay journalists to do journalism."