If there were an ashram for people who worship contemplative long-form journalism, it would be the Nieman Conference on Narrative Journalism. This March, at the Sheraton Boston Hotel, hundreds of journalists, authors, students, and aspirants came for the weekend event. Seated on metal chairs in large conference rooms, we learned about muscular storytelling (the Q-shaped narrative structure—who knew?). We sipped cups of coffee and ate bagels and heard about reporting history through letters and public documents and how to evoke empathy for our subjects, particularly our most marginal ones. As we listened to reporters discussing great feats—exposing Walter Reed’s fetid living quarters for wounded soldiers, for instance—we also renewed our pride in our profession. In short, the conference exemplified the best of the older media models, the ones that have so recently fallen into economic turmoil.

Yet even at the weekend’s strongest lectures on interview techniques or the long-form profile, we couldn’t ignore the digital elephant in the room. We all knew as writers that the kinds of pieces we were discussing require months of work to be both deep and refined, and that we were all hard-pressed for the time and the money to do that. It was always hard for nonfiction writers, but something seems to have changed. For those of us who believed in the value of the journalism and literary nonfiction of the past, we had become like the people at the ashram after the guru has died.

Right now, journalism is more or less divided into two camps, which I will call Lost Media and Found Media. I went to the Nieman conference partially because I wanted to see how the forces creating this new division are affecting and afflicting the Lost Media world that I love best, not on the institutional level,...

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