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 Wyborzca on Poland, they transition from a big print subscriber base to digital with keen focus on audience needs and interests, when they align with those of the subscribers. 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.