Helping Google help news media

A good idea from Michael Massing:

I propose that Google set up a Journalism Innovators’l Fund with an initial annual budget of $100 million-less than 0.5 percent of the more than $20 billion it takes in annually. The fund would seek not to subsidize existing news operations but to support creative ideas and new programs aimed at reinventing the news as Schmidt suggests. It would support start-ups and fledgling enterprises engaged in investigation, international reporting, policy analysis, blogging, and other forms of probing and provocative reporting and commentary undertaken by the independent journalists who, given the severe retrenchment taking place at traditional organizations, are making up an ever-larger part of the field. More and more journalists are becoming entrepreneurs. Entrepreneurs need start-up capital, and who better to provide it than Google, itself a product of, and tribute to, the entrepreneurial spirit?