From the Huffington Post’s Dan Froomkin:
“What if the newspaper industry does go down?” Lashinsky asks.
Schmidt replies: “To me this presents a real tragedy in the sense that journalism is a central part of democracy. And if it can’t be funded because of these business problems, then that’s a real loss in terms of voices and diversity. And I don’t think bloggers make up the difference. The historic model of investigative journalists in any industry is something that is very fundamental. So the question is, What can you do about this? I think it is a fair statement to say we’re still looking for the right answer.”