Not just the LA Times. No *business* can “save” its way to profitability by firing the people who create its product or service. Vultures, OTOH, can seize/sell assets and squeeze the remains until there is nothing left. Then on to the next ROI opportunity.

Information has characteristics of a public good. Nonexcludable. Nonrivalous. 1. Once created, it’s costly to keep others from using it. Thus, paywalls. 2. Once created, two (or more) can use it at the same time without negatively affecting others. Thus, limits on number of library ebook copies.