Another web newspaper doomed to failure

http://www.nytimes.com/2009/11/09/business/media/09carr.html?ref=technology

It's easy to spot, not because of any deficiencies in the product itself (it sounds like a good idea, actually), or how it will be marketed (not even sure about that).  But a startup website whos eCEO gets paid $315K per year is not going to succeed.  I realize this is a non-profit organization, and with a salary structure like that it's almost guaranteed there will be no profits.

When you start a company, or even a non-profit, you just don't get paid like you would at an established enterprise.  That kind of salary (which probably means others within the organization are equally well-paid) consumes capital at a time when businesses need it most, and creates an enormous amount of pressure to raise additional capital.  Which means the CEO will probably spend more time raising funds than managing a newsroom.