Greenwald’s new venture shows brands still matter. But they can be personal brands.

“While no one has found the formula that will bring old media into a profitable future, I’m guessing that Bezos understands an old truism: brands matter,” commented Chris Hughes, who bought The New Republic, on Jeff Bezos’ purchase of The Washington Post. So, to Hughes, the name recognition of the news outlets he and Bezos purchased was a key factor in deciding if those organizations were worthwhile investments.

But eBay co-founder Pierre Omidyar’s investing in a start-up news organization with Guardian reporter Glenn Greenwald and company suggests that there is a tipping point where a big enough personal brand can bring a similar level of credibility to an upstart organization. Sure, Omidyar is investing in a commercial brand, but it will be built on the personal brands of journalists Greenwald, Laura Poitras and Jeremy Scahill. And that's not a bad investment.