> ... news, the moment it is reported, immediately loses all economic value ... That sounds like a critical error. News has been transitioning to subscription

> ... news, the moment it is reported, immediately loses all economic value ... That sounds like a critical error. News has been transitioning to subscription based patronage and pay to release models. In the current environment any interest especially including popular articles generates value in potential additional coverage and follow up pieces. The key thing to remember is that the value is no longer in distribution but in new features such as influence over what subjects are covered and special features like live on location interviews. Now that distribution is free patronage, influence, and specials are what generate value.