Milo Tesselaar is the initiator and co-author of Capital Stacks of Journalism, a study of how twenty-one profitable independent newsrooms in Europe launched with anywhere between € 0,- and nearly €8 million. He is a partner with the Center for Sustainable Media (Budapest, Vienna, Brussels) advising publishers on transformation and audience-driven strategy, as well as investors and philanthropic funders on investment strategy for profitable media ventures. Milo is also a political strategist and campaign director, having led organizational transformation projects, governmental negotiations and four major political campaigns spanning presidential, parliamentary and mayoral races, work that shapes how he thinks about building effective mission-driven organizations under financial and political pressure. He is the founder of new – Strategy & Concepts, a Vienna-based studio for ideas, business and communication strategy, and co-founder and chair of Democracy21, an Austrian platform for rethinking democracy.