This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

The Internet Still Seeks a Pulitzer

Stocks in this article: AOL CMCSA GRPN YELP Z

Sites like Yelp (YELP) organize local food markets but don't seem able to bring in cash from restaurants without risking scandal, described here by Epicurous. Sites such as Angieslist organize local services, then charge people to read what is written about these services.

What I was told about journalism 35 years ago at Northwestern's Medill School remains true today. It's about organizing and advocating a place, an industry or a lifestyle. It's about making markets. It's not about writing, not about covering news, it's about organizing people who want to sell stuff to those most likely to buy that stuff.

Advertising is wasted money unless it turns into sales. If you can bring a merchant sales, you're worth more to them than a piece of their ad budget -- you're their partner. Local advertisers are flocking to sites like Scoutmob and Groupon (GRPN) because they bring in customers, but the cost is extreme when the necessary discounts are included.

I guess what I'm saying is there are huge opportunities here for connecting local businesses to local customers, and lots of people who will do the advocacy part of the business for very little money. What we need, still, are local publishers willing to do the hard work of organizing these places, these industries, these lifestyles, turning them into marketplaces.

If Joseph Pulitzer were around today, he'd know. So would Joe Medill. They don't put journalists' names on the journalism schools, only those of entrepreneurs. And there's a huge opening here. If you can build a business model that works, you can still wash, rinse and repeat yourself to a fortune.

When you do I won't laugh at you. I'll be offering you my resume.

At the time of publication the author had no position in any of the stocks mentioned.

This article was written by an independent contributor, separate from TheStreet's regular news coverage.

2 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs