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Search traffic fell 36%: what a direct reader is worth now
Search referrals are shrinking as AI answers absorb clicks. Piano's benchmark puts search traffic down 36% while revenue fell 16%: the gap is what direct readers are worth.
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How the business newspaper broke the scoops that moved markets
From the Wall Street Journal's 1889 basement start to the Enron scoops: how financial desks read documents first and produced stories that changed markets and rules.
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How to read earnings reports without a finance degree
Revenue by source, operating profit, then guidance: the three-line read. The NYT's second-quarter 2026 numbers, 13.35 million subscribers and $9.94 ARPU, show each line at work.