Recode Decode: Can an alt-weekly newspaper survive in 2018?

Philanthropy

Mark Ein's investment in the Washington City Paper is driven by a philanthropic vision rather than a traditional business approach. He sees media ownership as a way to make a significant impact, akin to buying art or sports teams, and believes in the potential for local journalism to thrive with the right support 1. Ein emphasizes the importance of creating a sustainable model through grants and events, aiming to eventually make the paper self-sufficient 2.

I think this is going to be a new category of things that people say, I can make a huge impact in the world.

--- Mark Ein

He is committed to providing a long runway and resources to ensure its success.

   

Strategy

Ein's strategic investments extend beyond philanthropy, focusing on media and technology assets with growth potential. His acquisition of Castle, a leader in managed access control for commercial real estate, exemplifies his approach to finding platform companies with strong brands and room for expansion 3. He also aims to revolutionize the PR communications industry by making earned media as measurable as paid media, leveraging assets like PR Newswire 4.

We're trying to do the same for earned media. So we own peer newswire and a bunch of other or assets that for.

--- Mark Ein

These investments reflect his belief in the power of strategic growth and innovation.