Matthew Ingram writes a post mortem on The Messenger news startup:

The saddest part of this whole saga, as Simon Owens noted, is that the $50 million Finkelstein and his team chewed through could have funded a hundred local news startups that people might actually want or need.

I’m a big fan of the “fund a bunch of smaller attempts”. Knowing when to favour that vs fund the larger impactful thing is hard.