John Robinson effectively demolishes the case for a newspaper paywall:

Newspaper paywalls: using a Band-Aid on a bullet wound | Media, disrupted.

I personally like the NYT model. When they have a big story that gets a lot of traction online, it’s out there for everyone to see, getting enough traffic to make the ads pay off. But if you want to read everything in the NYT, pay up. And it seems to be working.

Why isn’t anyone else doing that?