NYT valuation is within spitting distance of it's all-time peak during the Dotcom collapse-- up 10x since "Great Recession". It's been completely revived on a web subscription model. A paywall. Netflix has a paywall and is probably one of the biggest media assets in the world. Youtube attaches more ads to highly sought content than lower-sought content. Agree w you that subscriptions aren't the FINAL answer, but creators must be allowed to charge for their content, variable amounts depending on the type of content. Not all articles are worth the same. Some are only meant for small audiences, but extremely valuable to that audience (how to pack your parachute safely). Some content has mass appeal (A Zeppelin crashing into a tower). Not sure what the correct interpretation of "information wants to be free" would be, but can think of multiple interpretations. Also agree proof of ownership is important, but meaningless if ownership doesn't mean controlling entry price. A ticket to the movies is less than a ticket to Epcot Center, even if they were the same size.