On the other hand, an op-ed, "News You Can Endow" in today's Times makes a point that I've been trying to make about online-only mode. The authors, by David Swensen (the author of “Pioneering Portfolio Management,” is the chief investment officer at Yale) and Michael Schmidt, a financial analyst at Yale, cite a 2008 research report from Sanford C. Bernstein & Company:
“The notion that the enormous cost of real news-gathering might be supported by the ad load of display advertising down the side of the page, or by the revenue share from having a Google search box in the corner of the page, or even by a 15-second teaser from Geico prior to a news clip, is idiotic on its face.”And that's the problem with online-only mode. It addresses some of the problems facing print newspapers, but does not solve all of them.
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