Sarah Lacy, who I had the pleasure of meeting a couple weeks ago, has a good piece in TechCrunch on this topic. Emphasis added on a line that is particularly pertinent to financial journalism:
Fortunately for me, my feet were never bound. I use the rhetorical you with impunity and a great many other sins that would make a Lou Grant equivalent choke on his bad Styrofoam cup coffee. That means a lot of people hate my writing. It also means a lot of people love my writing. But guess what? Both of those make money in an online news economy. You know what doesn’t make money? Rewriting an earnings report according to a formula you learned from a book.
Of course, this is all obvious by now, right? When I ask aspiring journalists where they want to be in ten or twenty years, not a single one says The New York Times or The Wall Street Journal. They want to have a famous blog. Some already do.
Some smart person should interview these students and get some empirical data on this: What do they plan/hope to do when they graduate??