I’m The Intercept’s editor-in-chief, and I can honestly say that in my 17 years as a journalist, I’ve never experienced a moment this perilous for investigative reporting.

It’s not just that Donald Trump says the press is “the enemy of the people.” It’s that billionaires are increasingly weaponizing the legal system to bury media outlets that report critically on them. Just look at what happened when Erik Prince, the founder of Blackwater, sued The Intercept. His lawsuit was eventually thrown out, but not before we spent $200,000 on attorneys’ fees.

Perhaps most troubling, we’ve seen a significant decline in donations from readers after a big uptick in the months immediately following Trump’s return to office — and if that’s not rectified, it’s only a matter of time before we’ll have to start pulling back.

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