US media reported last month on the creation of Good Information Inc., a new public benefit corporation backed by several US billionaires, to fund new media companies and efforts that tackle disinformation. According to an Axios report, the project leader promises that funding could include “investments in entities across the political spectrum”:
October 26, 2021 A new public benefit corporation backed by billionaires Reid Hoffman, George Soros, and others is launching Tuesday to fund new media companies and efforts that tackle disinformation. Why it matters: Good Information Inc. aims to fund and scale businesses that cut through echo chambers with fact-based information. As part of its mission, it plans to invest in local news companies. The group will be led by Tara McGowan, a former Democratic strategist who previously ran a progressive non-profit called ACRONYM. […] Details: Good Information is launching with a multi-million seed investment led by Hoffman and joined by investors Ken and Jen Duda, Incite, and George Soros. […] Although backed and launched by progressives, McGowan says the group could make investments in entities across the political spectrum so long as their editorial standards support fact-based information.
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The report notes that Good Information Inc. is the latest example of investments by US billionaires targeting disinformation, including:
- Craig Newmark, the founder of CraigsList, has invested millions to support factual reporting through his non-profit, Craig Newmark Philanthropies.
- Steve Ballmer, the former Microsoft CEO, founded USAFacts, a non-profit designed to make accurate data accessible and understandable, in 2017.
- Through her investment group, Emerson Collective, Laurene Powell Jobs has invested in several journalism organizations, including Axios.