Greg SmithEven though everyone’s always talking about the death of print media, it’s not that often that you hear about someone wanting to invest in journalism of the online variety. That’s what makes today’s news unusual: local developer Greg Smith–once a rumored Mayoral candidate–has purchased a stake in the new news and politics site PubliCola. Former Stranger writers Josh Feit and Sandeep Kaushik (the latter also a spokesperson for Greg Nickels) started the site in January. Says Smith in the press release, “PubliCola has real potential to develop into a site that is not only influential, but profitable. And I have some ideas about how to get there.”It’ll be interesting to see what those ideas are. Some of the money will be used to upgrade the site, the release says, but finding ways to spend the money will be easier than finding ways to grow it. (Though online advertising is getting smarter.)