Why aren’t there any journalistic startups?

Just came across this older post from Kyle Neath:

Maybe it’s me, but the answer seems so clear in my head. We have thousands of unemployed journalists. Good journalists. We have VCs ready to hand out money for a shit sandwich. We have a proven business model. Why don’t I see a flurry of journalistic startups? Get rid of the cruft of the newsroom, give power to the reporters and content producers.

Stop trying trying to grasp onto idiotic ideas like “social news” or stabbing blindly at twitter in hopes of saving an archaic organizational structure. People aren’t buying printed newspapers? Stop printing them. People only want to read their news online? Let them read it online.

America needs to stop concentrating on how to save our dying industries and start concentrating on how to create the next booming industries. Isn’t that what the American dream is all about, anyways?

Sounds like a plan to me.