I set out as an entrepreneur four years ago to change the world of journalism and build a digital business. I had a few decades in the news industry, one of them in new media, to guide me. During my journey, I’ve kept two quotes locked in my mind.
This one, from Don Logan, the former CEO of Time Inc., in response to how much he spent building the ill-fated Pathfinder Web site: “It’s given new meaning to me of the scientific term black hole.” The other was from Jeff Zucker, NBC Universal’s former CEO. In talking about digital video, he said: “Our challenge with all these ventures is to effectively monetize them so that we do not end up trading analog dollars for digital pennies.”
[Lewis DVorkin offers terrific insight into the search for a sustainable business model for journalism - JD]