There's No Money For Journalism

One early promise of the internet is that you could do some things cheaply. Like everything with new technologies this was overhyped, and the focus was always on reducing necessarily labor (you know, employees). We were also all supposed to be able to telecommute and it shouldn't matter where the company's headquarters was. That last part was always a bit dumb, as for reasons good and bad there is some value in being a media company located in a place like NYC. A bad reason is that's where investors are and to them places outside of NYC don't really exist. But while maybe locating in an expensive city has some value for such companies, there really isn't any need to pay for the priciest real estate in the priciest cities.