It has been almost two years since I wrote the article explaining to you why I built The Market Mogul. At the time, I shared with candid honesty about how challenging the journey was. I shared with you my deeply held worldview, one which has woven itself into every fabric of my being. I said that:
[o]ur mission is to build a media company that gives every person on the planet with an informed perspective the place to voice it, free from editorial and political bias. Wouldn’t it be an amazing world where we could all read globalised expertise from local perspectives, and with it, change our view of the world, for the better?
It is a big dream. Many may think that it is naive, or unrealistic. That it is too big a problem to solve.
News has a profound impact on the world. It shapes the way everyone views and experiences their lives. It affects nearly every decision a person can make. It can change lives. It can move society forward. Or holds it back.
I grew up in Birmingham, in a working-class family, and my dad would bring The Sun home from his work as a security guard. Every day he would tell me and my brother about what was going on in the world, treating The Sun as fact. It was an echo chamber, fed by a solitary view of the world. From my paper round, I earned enough money to buy more and different papers: the Guardian, the Times, the Economist and even New Scientist magazine. And I learnt that the world was not necessarily as depicted by my dad.
I spent some time at the end of the year reflecting on what had been accomplished. I felt that we, together, had made a lot of progress with The Market Mogul. But then I heard those voices louder than ever, those creeping doubts saying that this was too big a problem to solve. I was frustrated that we had not moved fast enough, made a big enough change. I took a pad of paper and broke the problem down. There were a number of vital questions that had to be answered:
- How can we ensure anyone, anywhere in the world has access to high-quality news from all sides of the story?
- How can we prevent fake news, echo chambers and media bias?
- How can we enable those with valuable insights to share them, not just journalists, and ensure content creators are compensated fairly?
- How can we be language agnostic, whilst ensuring content quality always remains high?
- How can we remove advertising from our model, without excluding those that cannot afford to pay with the subscription model?
- How can we support local/global media companies and not compete with them?
- How can we create an 11* news experience for all users?
Since then we have been hard at work finding solutions to these questions. We have sought help from experts in tech, media and academia. We have engaged with everyone who was willing to talk about these problems. We thought incredibly deeply about how we could solve these issues.
We found the answer. It is Mogul News.
It is a place to allow anyone with an internet connection access to high-quality news and analysis, on what is important to them.
We have the answer. Now we need to make it happen.
I have had to make some tough decisions. I had to turn the page on something I have devoted over five years of my life to, from when I was living in a university dorm until today. But the world does not reward standing still. We have to push ourselves to be better, to do better, to think bigger and to do more.
The Market Mogul, in its current form, will shut down. We have learnt an unbelievable amount about how we can fix media from it, from both our failures and successes. Every one of these lessons will help us with the next chapter of our journey: Mogul News.
I am very grateful to each and every one of our authors and readers for making The Market Mogul what it is. The submissions we have received over the past years only strengthened my belief that the world will be made better by allowing those with knowledge to share it with everyone. In building Mogul News, we are developing a platform to give you all the news you care about in one place. News from industry leaders, trusted publishing partners, independent journalists, experts and thought leaders, on any topic that matters to you. I see a future where high-quality content is available to anyone, anywhere.
This means readers around the world will get the news experience they truly deserve. It means all sides of the story are represented, highest quality fact-checking is in place, and nowhere will there ever be an ad or clickbait. It also means that readers won’t overpay for news ever again. By pushing the boundaries of what is possible, we can set up a newsroom that is affordable for readers and compensates writers fairly.
Nearly every newspaper and online outlet is charging a separate subscription. In a world where Spotify can give you every song you want for one affordable subscription, and Netflix can do the same with movies, why should news and analysis be different?
Every reader and subscriber has demonstrated that there is a desire out there for this type of content. The reaction I have received from people who shared, commented and enjoyed the Market Mogul is exactly why I built it. Thank you.
While some things may disappear from your inbox, like the Breakfast or Crypto Briefing, I want you to be part of this continuing journey. Every week between now and when we launch Mogul News, you can be part of our community, learning about what we are doing, how we are getting on, and giving us your thoughts on it.
I can’t wait.
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