One entrepreneur is trying to get people to pay for their news online.
Tony Haile, the founder of Chartbeat, a site used by publishers to gauge how popular content is, started Scroll.
Dubbed an Apple (AAPL) iTunes for online news, users pay $4.99 a month for an ad-free experience to a host of major publishers. They still run into a paywall if they don't have a subscription to the particular outlet.
Haile has funding from the likes of News Corp (NWSA) .
"Your first order of problems is the actual price itself," New York-based Haile said to TheStreet's Ken Doctor. "You've got to be able to distribute enough cash, at an industry level which can beat the opportunity cost of revenue. These people have to make more money from this than they would have from advertising. Which, thankfully, is increasingly easy to do."
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Breaking down an approach to the long side of this biotech stock.
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