The misalignment between readers and publishers has been brewing for a decade, and, I believe in agreement with at least some of your team, 2016 might be the turning point for this. “Peak Content” coupled with “Peak Advertising” means that perhaps a new content consumption model is in order. Paid Content is likely that model — but “paid from where?” is the better follow-on question. Just like we saw post-Napster and the quick devaluation of music properties and refusal of online audiences to pay for tunes, there’s already a stock devaluation in content, bolstered only by the persistent “high quality” of established outlets (NYT, WSJ, Economist, etc.) that can command (and justify) subscriptions. So the concept that consumers — inured with the idea of free, value-less content — will pay out of pocket anywhere but through premium channels is hard to imagine for the broader web. What is needed is a way for readers to generate those payments online somehow (akin to AirBnB homeowners subletting their rooms, except here for readers involving excess attention, not excess square footage) so that the “attention economy” can actually start paying its own way.