Yeah, this exactly. VCs fueled by low interest rates sold the world on free content forever and when the well dried up, all the legacy businesses that wanted to invest in quality and human capital were left holding the bag. It isn't just independent journalism that's suffering. Local journalism and even former stalwarts like Newsweek or Forbes have gone to pot.
Well, it wasn't just VCs. A lot of traditional mainstream media felt that they had to do something. A few like the NYT and The Economist arguably had strong enough brands to come out the other side with subscriptions. Maybe Bloomberg Business Week and some smaller pubs. Forbes, post Malcolm, sold their soul for clicks. A ton of others aren't quite as sad but bad enough.
