Translation: Will this college sophomore’s new web business, called “PaperG,” take off—and possibly revolutionize the web journalism biz—in part through a new technology called “flyerboarding”?

Victor Wong surely hopes so. He and some fellow Yale undergrads, along with cohorts at Harvard and Stanford, have spent the spring immersed in a torrid quest to develop the Next Big Thing in media innovation.

They’ve formed a company, written code, and chased customers and financial backers for a two-part plan to help new-generation media pay the bills.

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