How digital media monetize their social capital

From GDJ's Clipart,
Lately I have been reading a lot about a new way of valuing media that would benefit entrepreneurial journalism ventures, which nearly always lack capital to launch and sustain themselves.

Sociologists and economists have been writing about it for years -- social capital -- and I am embarrassed to say that I have just started learning about it. 

Social capital is a value that media entrepreneurs possess through their ethnic, social, professional, and business networks. It is also a value that they create through their work's impact on societyBelow I will show how three entrepreneurs are making it work, in FranceHolland, and Spain.

Versión en español

Hard to value

Investors, the public, and the media entrepreneurs themselves have tended to undervalue their work because it is hard to place a value on their social capital. By contrast, it is easy to value a publication through the advertising and subscription revenue it generates and the capital assets it owns. 
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