From Steve Outing’s blog comes the news that a band of downsized journalists are willing to bet (their own money) on their skills and the fact that there is a market for “news.” The 20th century business mindset, with economic models based on “scarcity,” rather than “abundance” are best taken with skepticism, if not ignored altogether.

What irony that newspapers’ own (severance) money in some cases like this is paying for the creation of new entities (commercial or non-profit) that will fill the holes the papers have created.

via Ex-newspaper employees’ buy-out money used to compete against newspaper: SteveOuting.com.