How Did the New York Times Manage to Spend $40 Million on Its Pay Wall?

Philip Greenspun:

Aside from wondering who will pay more than the cost of a Wall Street Journal subscription in order to subscribe to the New York Times, my biggest question right now is how the NY Times spent a reported $40-50 million writing the code (Bloomberg; other sources are consistent). Google was financed with $25 million. The New York Times already had a credit card processing system for selling home delivery. It already had a database management system for keeping track of Web site registrants. What did they spend the $40-50 million on?

★ Wednesday, 30 March 2011