Justin Varilek’s formal pitch would seem unassailable.
“Editors Are Losing Their Networks,” declares his de facto prospectus for an online venture called HackPack that debuts Wednesday.
“Problem: 51% drop in newspaper revenues in the past 15 years has led to loss of staff and global networks.”So there’s Option 1: Provide original coverage with diminished resources. Option 2: End such coverage. Option 3: Get investors to expand your existing global network, as have the likes of VICE, BuzzFeed and Politico.