I'm interested to see what the financing model will be. One of the biggest structural problems with the MSM is their reliance on advertising and the editorial constraints that inevitably imposes. While I respect and admire Greenwald, a key takeaway from the NSA leaks is that a system that relies on the beneficence of its key actors is a system that will be abused. If the only defence against editorial degradation is the personal ethics of Greenwald and Omidyar, then it's only a matter of time before the venture's editorial oversight is captured by its financial interests.

As much as I dislike paying for news, I'd far rather see them model themselves after the Economist than CNN.