"The Daily" Is The New "Portfolio"

The Daily launch

Photo: News Corp.

“The Daily” is the new “Portfolio.”That is, News Corp.’s iPad-only newspaper is the closest thing we’ve seen to Condé Nast’s glitzy business magazine, which launched with much hype and flamed out during the financial crisis a couple of years ago.

They both started with a reasonable premise but ultimately failed to deliver. They both had tremendous resources from their giant parent company that an entrepreneur would kill for. They both had big staffs with marquee names.

And like Portfolio, we expect The Daily to be disbanded, before too long.

The biggest problem is that The Daily still hasn’t given us a reason to read it, whether through interesting stories, great writing, or captivating production. (Nevermind The Daily’s well-documented technology problems — perhaps the WSJ or New York Post can use some of the iPad app or server code.)

We think we’re the target audience. But we still have no drive to ever open the app — let alone pay the $0.99 per week that they want from us, now that the free trial is over.

It is very hard to build an audience from scratch — we get that. But it’s even harder to justify a huge, expensive project with a small audience than if it were a scrappy, bootstrapped project.

So vote in our poll below — when will Murdoch pull the plug?

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