Digital content

Why YouTube needs principles

There are two kinds of enforcement mechanisms. Silicon Valley is a world of 1s and 0s and naturally gravitates towards rules-based systems: If this, then that. Once you set the rules, the job of enforcing them becomes routine.

The state of play: The alternative is a principles-based system. You start with a set of high-level principles (if you're causing someone significant harm, that's bad; if you're causing pleasure and enjoyment, that isn't), and then try to police your domain according to those principles. In the legal system, principles can be found in areas like sentencing guidelines or even the "reasonable doubt" test.

Scoop: Refinery29 aims to raise $20 million

The Refinery29 founders; from left to right: Christene Barberich, Justin Stefano, Piera Gelardi, and Philippe von Borries. Photo: Refinery29

Refinery29, the venture-backed digital media company focused on millennial women, is looking to raise up to $20 million in new funding, according to an SEC filing.

Why it matters: The company plans to use the funds to expand internationally and for its originals studio and events business, Axios has learned. The company was rumored to be in merger talks with Group Nine Media, another millennial-focused venture-backed brand recently, though there's no concrete deal at the moment, according to sources.