The Observer's Michael Calderone caught up with Wallpaper* founder Tyler Brule. Brule launched Monocle, a UK-based high end news magazine, earlier this year. Although the magazine has been rapidly building a European audience... well, they're having trouble cracking the American market. Perhaps it's due to their GBP75 subscription price or erratic distribution, but maybe not. At least Brule got some good stories out of it:

Before leaving Wallpaper*, Mr. Brule was already quoted in the press about his desire to launch a newsmagazine.

"That didn't make them very happy at Time Inc," Mr. Brule said, laughing. "Norman Pearlstine got so angry at me. I remember being screamed at on the phone in Hamburg."

Mr. Pearlstine, now a senior advisor at the Carlyle Group, and formerly Time Inc.'s editor-in-chief, had championed the purchase of Wallpaper*. While still a fan of Mr. Brule's editorial vision, Mr. Pearlstine said it’s easier to do so as a reader, rather than investor.