When I saw their bio when this was announced a few months back, I did scratch my head a little. One was a PhD in computer science, the other was a researcher at ARM.
None had a media background.
I just wish people stop thinking that journalism is a technology problem.It doesn't matter how good your platform is. This hacker culture of thinking everything can be solved with guru developer skills needs to stop.
Here are some qoutes from that letter:
"If I could rewind and start again then I believe the pitch for NewsLabs should have been simpler and much more realistic: we will build you a technology platform and strive to work hard for you as programmers... but we cannot magically generate you an online brand or guarantee traffic."
"It seemed like we had the right parts (your writing and our technology)..."
This is why Mark MacLeod, in a recent post on his blog startupcfo.ca, said that one of the traits for a successful founder is domain knowledge:
"Lets look at domain knowledge first. This is not about having studied or otherwise artificially gotten to “know” the industry. This is about coming from that industry, having lived it, knowing the players and knowing the pain firsthand. There is no substitute for this. You can’t fake it. You either come from the space or you don’t."