Be careful what you wish for, journalists. Fairy godmothers can have a dark side.
Just ask the fine folks at the Pacific Standard, a magazine respected for its decent salaries and long-form stories. The small staff of 16 journalists known for their impressive work have packed their desks, polished their résumés and published their last stories. Why? Because their sole funder cut off the $3 million-plus it took every year to pay their salaries and expenses.
Read the full article from Poynter: The dark side of journalism’s fairy godmother business model