John Thornton, a venture capitalist and co-founder of significant nonprofit journalism initiatives like the Texas Tribune and American Journalism Project, passed away at 59, leaving a substantial impact on local news. Tributes from colleagues highlight his visionary leadership and financial contributions. An interview revealed that Thornton was deeply engaged in details of his ventures, combining strategic planning with practical financial insight. His comments reflected a dual understanding of business dynamics and the need for innovative support in journalism, emphasizing the importance of local news in today’s media landscape.
Right now, it's all a spreadsheet ... the video game version (of the real thing.) ... Or to mix clichés, battle plans don't survive the first shot.
For $1 in the first year, (we expect) a return of 50 cents; for year two you expect to get $1 back; somewhere between two and five years, each dollar should get double that rate of return.
Thornton told me that ventures with strong early records needing a business staff boost would be picked for the first 25 grants without much regard to judgments about their location.
I had the impression he had bought into the ideas of his co-founder, Elizabeth Green, CEO of Chalkbeat.
#john-thornton #texas-tribune #american-journalism-project #nonprofit-journalism #venture-philanthropy
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