PressEthic

On September 17, the Times ran a story about Good, a new start-up mag that is founded and financed by Ben Goldhirsh, the multi-millionaire son of the founder of Inc. magazine. Goldhirsh explained the idea behind the magazine, especially at a time when print journalism is battling online media for face time.

“We wanted to bring valuable content to an audience that’s not being respected,” Mr. Goldhirsh explained. “You have The Economist, you have The New Yorker, with wonderful value, but they’re not catering to the taste of a younger demographic.” ...

The founders say they were motivated by a desire to contribute to society and express something on behalf of their generation.

The website for the magazine states that Good "embraces this generation’s merger of capitalism and idealism. Our mission is to stimulate the culture of good by creating dialogue around things that matter."

However, Goldhirsh readily admits that he and his friends do not read many magazines, and the head of advertising sales (Al Gore's 23-year-old son) had never sold an ad before taking the position at Good.

Given the recent news that Time Inc. is selling off 18 of its 50 publications, it seems to be more popular to dump magazines, not start a new one, and the Times voiced reservations over the likelihood of the start-up mag's success.

Magazine analysts said the chances of a magazine’s succeeding in today’s market were minuscule and that Good’s approach seemed high-minded but financially unrigorous.

But maybe Goldhirsh's combination of money (he plans to invest $10 million in the mag over the next five years) and passion for his cause will prove a success story for a medium that is faltering.

Mr. Goldhirsh said he knows the odds are against him. But that doesn’t mean he’s not a betting man. “We’ll evaluate reality as it comes,” he said, cracking open a Red Bull. “I grew up hearing nothing but start-up stories. And we’re aware of the pitfalls.”

Still, he added, “I have no intention of doing anything but making this work.”