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Journalists in their 40s are under no illusions to the need for sustainable business models in news publishing. Being suddenly laid off is a rite of passage.

“Those of us who started in journalism in the late ‘90s, early 2000s, very early on we were awakened to the challenges of the business models,” said David Skok, founder and CEO of The Logic, a four-year-old publisher focused on the growth of the knowledge economy in Canada. “We didn’t have the church and state separation as much as others did in terms of  understanding the news industry is as much about product and business strategy as it is your editorial. I’ve always said you could have the best lede or nut graf in the world, but if it didn’t load on your phone in .01 seconds, it was invisible to the reader.”

Founded in 2018 and now with 20 employees, The Logic is an independent publication focused on the knowledge economy in Canada as it transitions away from an economy largely dependent on sectors like mining and real estate. David describes The Logic as “a combination of the business model/product of The Information with the editorial focus of The Financial Times.” 

On this episode of The Rebooting Show, David and I discussed why The Logic doesn’t consider itself a tech publication, differentiating through original reporting and why a subscriptions-based business model isn’t subscriptions-only. 

Starting from scratch

David is a veteran journalist, with roles at the Boston Globe and The Toronto Star. He started The Logic almost four years ago after recognizing the challenges legacy news organizations face in changing their business models provides an opportunity for new entrants with the right focus.

“I had been a disruptor from within [large news organizations] and seen a lot of the same mistakes being committed and a lot of the same barriers to innovation. I wasn’t seeing a lot of success in large organizations, not because the effort wasn’t there, but because they’re large organizations and they’re slower moving. There was an opportunity, particularly in the Canadian market, which hadn’t had a lot of innovation in a while, to start something new.”

Going beyond tech

Technology long moved from a vertical coverage area to a horizontal. There is a tech angle to just about every news story. For The Logic, that means going beyond technology to zero in on the big story of the Canadian economy shifting its focus to industries like crypto and electric vehicles.

“You can't cover tech anymore without covering the future of everything. Early on, we branded ourselves as a technology publication because it was a way for people to digest what we were doing, but it was almost a Trojan horse. We’re really about the future of the entire economy, not just tech. What we try to do is cover it through a lens of innovation and forward-thinking.” 

Differentiation

Being unique and meaningful are the ways to stand out in crowded markets. For The Logic, that means focusing on in-depth, reported stories as opposed to chasing SEO traffic by rushing up an explainer of “What is SWIFT?”

“[The Information’s CEO] Jessica Lessin has talked a lot about this: How do you be 10x better than your competition? You have to make sure you stand out. Do we have unique access to someone or something? Are we telling you something original, breaking original reporting you can’t get anywhere else? All our work is based on original reporting so that we can define the agenda as opposed to fo