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Your assessment of The Messenger is right on target. Digital news startups that have been successful, like elDiario.es in Spain, build slowly with small staffs that grow only when revenues suggest that people can be added. Or, like Gazeta Wyborcza in Poland, they transition from a big print subscriber base to digital with keen focus on their audience's information needs and interests. At any rate, scale for scale's sake doesn't work any more. Now it's all about building intimate relationships with users. I'll be very interested in following your newsletter.

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Yes, even the companies that raise venture capital now often doing it in relatively small amounts so they can grow organically and not get too far ahead of their revenue generation with their burn rate.

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Two reasons why I like your newsletter. First, I like well-written, researched stories. Next, you focus on an area that I have almost no interest in and your analysis makes me feel smarter for never wasting time to look at, download, or learn someone's software fascination, e.g., Messenger, Twitter, Buzzfeed, Instagram. Facebook, Threads.

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Thank you for the kind words!

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