1. The Texas Tribune: Why, What, How U.C. Berkeley Media Tech Summit September 30, 2009

2. Commercial and Non-Profit Journalism: A Co-Existence Manifesto • Newspapers are not going away – not soon; maybe not ever • However, growing fragmentation => growing • Specialization • Cooperation • Insecurity of public service journalism • The Texas Tribune and our ilk are not a panacea, but we think we can help!

3. Death, Taxes…and Advertising Advertising % of GDP Sources: Nieman Journalism Lab

4. Secular Decline of Newspaper Media Share ~ 2/3 Decline in 60 Years % US Advertising Expenditures Sources: Nieman Journalism Lab

5. And Then It Gets Really Ugly Sources: Nieman Journalism Lab

6. Fundamental Challenges in the Newspaper Model • Print • +/- 2/3 cost structure fixed • Negligible readership born after 1977 • Online • General failure of “Display 1.0 – 3.0” • Single-digital print replacement rate • Unbundling • 80%+ news not navigated through home page • <5% of “Articles” are profitable THE “IRON CORE” IS NOT PROFITABLE AND NEVER HAS BEEN

7. The Difficulty of Serving God & Mammon Sources: ContentNext Media and Pew Internet & American Life Project

8. Personal Conclusions • Capital “J” Journalism is different • Curation • Consequential • Complexity • Context • Journalism is a “Public Good” • Market forces insufficient • Non-rivalrous • Government solutions neither likely nor ideal • Philanthropy can fill much of the void • States are where the action is • Courage • Civic • Choices

9. The Power of the States The Special Case of Texas Increasing Importance, Declining Coverage ($ in Trillions) • Major demographic and income shifts • Unique state tax structure • Bottom decile • Infrastructure • Public health • Public education • Voter turnout $3.2 National Defense Social Security / Medicaid / Medicare Congressional Discretionary Spend

10. Much Left Uncovered – the Texas Tribune Opportunity • Texas Legislature • District level politics • Lobby • Campaign finance • State Board of Education • State pension funds • University System • Public health • Border/Immigration • Race • Trade • Demographics • State tax policy • Transportation • State agencies • Elected judiciary • Energy industry • Technology industry • Real estate industry • Arts reviews • Major cultural institutions • Cultural criticism • Texas literature • Texas music • Environment • Texas congressional delegate Local Dailies City Hall Local school districts Crime Real estate Local/Small business Ratings/Review Weather High School local sports Big 4-5 Wire Service International affairs National politics “Cabinet-Level” national policy eg. Tresury, AG Education, etc. National business Championship sports National cultural criticism “NYT Sections”

11. The Texas Tribune • MISSION • Help Texans make more informed civic choices • Build a great public media company • METHOD • Non-partisan, non-profit • Aggressive, original, “Capital J” journalism • Not just news…Knowledge and Understanding • Civic engagement as a (admittedly elusive) goal • Revenue promiscuity • Technology decisions: follow fast, fail faster

12. Texas Tribune: Three Components

13. Our Fancy New CEO/EIC

14. Texastribune.org The Texas Tribune

15. Texas Tribune How: Seed Capital Campaign • $4.5m Target by end of 2010 • $3.2m Raised • $1m Founders • $0.9m Foundations • $1.4m Individuals • $1.2m To Go Texastribune.org

16. The Trick: Building a Sustainable Model

17. How: The Not-So-Crazy Dream • Texas dance = $40m business • Texas dance philanthropy = $20m • $20m of journalism philanthropy buys ~200 Reporters • 20 at the State Capitol • 20 on State agencies • 20 on the Lobby • 20 on the Border • 80 - - Leaves 120 for business, culture, etc.