Bloomberg columnist Leonid Bershidsky isn't confident that Evan Williams can come up with new business model to make Medium profitable without sacrificing his high-minded publishing
principles. This week, “Williams suggested the new model would be ‘transformative’ and said it was too early to describe it,” he writes. “That's hardly good news for
investors, who have already contributed $130 million to the startup.”
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Maybe well-written content is a commodity that stymies differentiation.