How did we get from 30% profit margins to paywalls, nonprofit newsrooms, and creators funding investigative journalism one Substack post at a time?

In this episode of FMC Fast Chat, host Jaci Clement sits down with Richard Tofel — founding general manager and former president of ProPublica, now leading Gallatin Advisory and teaching at Harvard's T.H. Chan School of Public Health — for a candid, eye-opening conversation about the fractured economics of journalism, how credibility impacts revenue, and what’s really at stake for democracy.

🔥 Highlights include:

• Why the news industry never recovered from 2005
• The dark side of paywalls — and how they shift newsroom independence
• How to navigate a media landscape flooded with misinformati ...