The problem is that journalism’s true value-creating work, the keystone of American journalism, the principle around which it is organized, is public-interest reporting; the kind that is usually expensive, risky, stressful, and time-consuming. Public-interest reporting isn’t just another tab on the home page. It is a core value, the thing that builds trust, sets agendas, clarifies public understanding, challenges powerful institutions, and generates reform. It is, in the end, the point. Not only does the FON consensus have little to say about public-service journalism, it is in many ways antithetical to it.