I’ll say this in defense of PandoDaily: when you have dozens of investors it looks like what every startup company does.

— Charles Johnson (@Green_Footballs) March 2, 2014

First Look, on the other hand: when you have only one investor, it can look a lot like a vanity project.

— Charles Johnson (@Green_Footballs) March 2, 2014

Especially when Jeremy Scahill says, “The whole venture will have a lower wall between owner and journalist than traditional media.”

— Charles Johnson (@Green_Footballs) March 2, 2014

Scahill was saying specifically that Omidyar is going to be involved in the editorial process.

— Charles Johnson (@Green_Footballs) March 2, 2014