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Ben Smith is the former and founding editor-in-chief of Buzzfeed News, the founder and editor-in-chief of Semafor, and the author of a new book called Traffic: Genius, Rivalry, and Delusion in the Billion-Dollar Race to Go Viral, which is about the rise and fall of the social platform age in media, through the lens of Gawker Media and Buzzfeed and, in particular, their founders, Nick Denton and Jonah Peretti. I say the fall of the social platform age pretty literally: just before we spoke, Buzzfeed actually shut down Buzzfeed News, saying it just wasn’t making enough money, Facebook and the rest are all in on vertical video, and the chaos at Twitter means a lot of baseline media industry assumptions are now up for grabs. Ben and I talked about a lot – where do journalists build their brands now? Where does traffic even come from anymore? What’s next? Of course, we talked about Semafor as well. Ben and his co-founder, Justin Smith, raised $25 million and launched a news website, newsletters, and events cover

We’ve got a special episode with Alex Heath, deputy editor at The Verge and a familiar host for Decoder listeners, and David Marcus, the CEO of Lightspark. That’s a company that just launched a service to make fast transactions using Bitcoin on something called the Lightning Network. David was previously at PayPal, and then he led Meta’s big payments effort that went nowhere, but he’s got a lot to say about where crypto and payments are right now. Links: Launching the Lightspark Platform Facebook tells Congress how it thinks Libra should be regulated - The Verge The leader of Facebook’s stalled cryptocurrency project is leaving the company - The Verge Transcript: https://www.theverge.com/e/23460507  Credits: Decoder is a production of The Verge, and part of the Vox Media Podcast Network. Today’s episode was produced by Creighton DeSimone and Jackie McDermott and it was edited by Callie Wright. The Decoder music is by Breakmaster Cylinder. Our Sr Audio Director is Andrew Marino and our Executive Producer is

Travis Katz is the CEO of BrightDrop, a subsidiary of GM that makes electrified delivery vans with an eye toward rebooting all of how delivery works. BrightDrop has pretty big partnerships already, with names like FedEx, Verizon, and Walmart committed to its Zevo 600 van, and it’s got big ideas for making the steps from the van to your door more efficient as well with something called e-carts. Katz says there’s a huge demand for delivery especially as online shopping keeps getting bigger, but the transportation network is at capacity, and you can’t just keep throwing more trucks and drivers on the road, or making city streets wider. His plan is to redesign the entire system to make it more efficient. So I wanted to know how he’s attacking that problem and making it manageable, all while getting buy-in from customers that won’t really accept delays or increased costs. BrightDrop is a wholly owned subsidiary of General Motors, so I also wanted to know how that works, what he gets from being part of the big co

It is fair to say that Substack has had a dramatic week and a half or so, and I talked to their CEO Chris Best about it. The company announced a new feature called Substack Notes, which looks quite a bit like Twitter — Substack authors can post short bits of text to share links and kick off discussions, and people can reply to them, like the posts, the whole thing. Like I said, Twitter. Twitter, under the direction of Elon Musk, did not like the prospect of this competition, and for several days last week, Twitter was taking aggressive actions against Substack. At one point you couldn’t even like tweets with Substack links in them. At another point, clicking on a Substack link resulted in a warning message about the platform being unsafe. And finally, Twitter redirected all searches for the word Substack to “newsletter.” Musk claimed Substack was somehow downloading the Twitter database to bootstrap Substack Notes, which, well, I’m still not sure what that means, but I at least asked Chris what he thought tha

Brex CEO Henrique Dubugras found himself playing an important role during the Silicon Valley Bank collapse. Brex is what you might call a neobank — not a traditional bank but rather a financial services provider that helps companies manage how they spend money, corporate cards, travel expenses and the rest. In the middle of the SVB collapse, Brex was more than just a spending management company. It was also a safe place to park money. Brex saw billions of deposits in a very short period of time, giving Dubugras a bird's-eye view of what was happening — and what was happening was not great for the banking system, especially in Silicon Valley. (Our own Liz Lopatto has been covering this in depth.) I wanted to hear Dubugras' perspective on SVB both as a fintech CEO and a founder himself, whether he thought the crisis was rational or just a panic caused by group texts and easy-to-use mobile banking interfaces, what he thinks will happen to the startup ecosystem next, and how much of an opportunity all this was fo

Chris Cocks is the CEO of Hasbro, a company that just turned 100 this year. Hasbro is a huge company, making everything from Transformers to Lincoln Logs to My Little Pony and Monopoly. It also makes Magic: The Gathering and Dungeons & Dragons, which are massive and growing businesses. Chris was the head of that division, called Wizards of the Coast, before he became the CEO of Hasbro overall last year. Since then, he’s started the process of restructuring the company, which is pure Decoder bait.  He’s also dealt with some crises: He’s fended off an activist investor that wanted him to spin Wizards of the Coast out into a new company. The Magic community was upset that too many card sets were being released, including rare collector cards that could suddenly be bought by anybody who had enough money. Then, an attempt to change the open gaming license for Dungeons & Dragons led to a fan backlash, and Hasbro walked the entire plan back. We talked about these challenges, how he handled them, and what it means fo

Today I’m talking to Mastodon CEO Eugen Rochko. Mastodon is the open-source, decentralized competitor to Twitter, and it’s where a lot of Twitter users have gone in this, our post-Elon era. The idea is that you don’t join a single platform that one company controls, you join a server, and that server can show you content from users across the entire network. If you decide you don’t like the people who run your server, or you think they’re moderating content too strictly, you can leave, and take your followers and social graph with you. Think about it like email and you’ll get it – if you don’t like Gmail, you can switch to something else, but you don’t have to quit email entirely as a concept. Now if you are like me, you hear the words open-source and decentralized, and then the word CEO, and you think – wait, why does the decentralized open standard have a CEO? The whole point is that no single person or company is in charge, right? Well, welcome to the wild world of open-source governance. It’s a riot, my f

Meredith Kopit Levien is the CEO of The New York Times, which is perhaps the most famous journalism organization in the world, and certainly one of America’s most complicated companies. The Times is 172 years old, and has only recently become a force on the internet. It’s hard to remember, but back in 2014 and ‘15, people thought the Times was doomed — that it would be replaced by BuzzFeed and Vice and Vox. Instead, the company has undergone a radical and sometimes painful public transformation, and emerged as something closer to Netflix or Spotify – a subscription business with a huge investment in product and engineering.  Meredith has led a lot of that change, and in particular, she’s led the charge in turning a Times subscription into much more than paying for news – NYT Cooking and Games are hit apps, and of course she bought Wordle last year in a bit of a coup. We talked about that structure, how Meredith intends to appeal to a broader audience with all those products when the country is basically divi

This special episode dives deep on Taylor Swift, Ticketmaster, and how a handful of policy changes in the 1980s led to one firm so thoroughly dominating the live events business in the United States that Congress held a hearing in 2023, because Taylor Swift fans were so upset about antitrust law. That sentence is wild. We’re going to unpack all of this with the help of some experts. Here we go. Transcript: https://www.theverge.com/e/23409098 Credits: Thanks so much to everyone who talked to us and shared their valuable insights for this episode including Dean Budnik, Florian Ederer, Russ Tannen, and Sandeep Vaheesan. And special thanks to Makena Kelly and Jake Kastrenakes.  This episode was written and reported by Jackie McDermott and Owen Grove. It was produced by Jackie McDermott, Owen Grove, and Creighton DeSimone with help from Jasmine Lewis. It was edited by Callie Wright.  Learn more about your ad choices. Visit podcastchoices.com/adchoices

In this installment of our Centennial Series on companies that are over 100 years old, we are talking to Barnes & Noble CEO James Daunt. The last few decades have thrown some hurdles in Barnes & Noble’s way, however. Far from being the monster that inspired the plot of the movie You’ve Got Mail, it’s had to face down a new Goliath called Amazon and the general decline of big-box retail stores. After years of closures and declining revenues, Barnes & Noble was bought out by activist investors in 2019, who installed Daunt as CEO, and he’s managed to turn things around by doing two main things.  First, he has decentralized operations of the stores, letting each store act like a local bookshop and giving his booksellers more control over what titles they sell and display. He immediately ended a system that allowed publishers to pay for special placement in bookstores, which he said corrupted the entire system in service of short-term profits. Second, he’s using Barnes & Noble’s scale to build a purchasing and dis

Gustav Söderström has worked at Spotify for a long time; his first big project was leading the launch of its mobile app back in 2009. That makes him the perfect company leader to talk to about Spotify’s recent redesign, which introduces a visual, TikTok-like feed for discovering new content on the app’s homepage. As his boss CEO Daniel Ek put it last week, it’s “the biggest change Spotify has undergone since we introduced mobile.” With the title of co-president and chief product and technology officer, Söderström is responsible for not only how Spotify looks and feels but also all the AI work happening behind the scenes to power its increasingly important recommendations. According to Söderström, it turns out that improving those recommendations is actually at the heart of the big redesign. “I think companies that don’t have an efficient user interface for a machine learning world are not going to be able to leverage machine learning,” he told Alex Heath on the newest episode of Decoder. Links: https://en.wi

Intro: Steve Bandrowczak, the CEO of Xerox, an iconic company that got started all the way back in 1906 as a manufacturer of photo paper and is, of course, best known for pioneering the copy machine. Here in 2023, Xerox has moved well beyond paper. It now works with companies large and small to provide IT services: it optimizes workflows, manages data, automates parts of businesses, and yes, still fixes the printers. Steve insists there’s still a lot in the world to print, and selling and servicing printers continues to be where Xerox begins its relationships with most customers. And fixing printers is getting high tech: Steve is excited about his new AR app that walks you through getting the copy machine working again so you don’t have to wait for a technician to come fix it.  We also talked about the future of Xerox’s legendary Palo Alto Research Center, or PARC, whether Xerox wants more consolidation, and we even spitball some ideas about how to get Gen Z excited about printers.  Links: John Visentin, Xer

Pali Bhat joined Reddit from Google about a year ago — he’s actually Reddit’s first-ever chief product officer, which is pretty surprising considering that Reddit is a series of product experiences: the reading experience, the writing experience, and importantly, the moderation experience. One thing we always say on Decoder is that the real product of any social network is content moderation, and Reddit is maybe the best example of that: every subreddit is shaped by volunteer moderators who use the tools Reddit builds for them. So Pali has a big job bringing all these products together and making them better, all while trying to grow Reddit as a platform. This was a really deep conversation, and it touched on a lot of big Decoder themes. I think you’re going to like it. Okay, Pali Bhat, the chief product officer of Reddit. Here we go. Links: New features aimed at making Reddit easier to use: an update on our product priorities focussed on simplification Reddit’s new features include a TikTok-style video fee

We taped this episode live at Hot Pod Summit. That’s our conference for the podcast industry. We have a whole newsletter for podcasters. It’s called Hot Pod, written by our very own Ariel Shapiro. Hot Pod Summit is where we bring that community of creators, trendsetters and decision-makers together to explore the latest developments in podcasting, audiobooks, and more. It was a packed house and a great time. We ended the day by recording our first-ever live Decoder with Conal Byrne, CEO of iHeartMedia’s digital audio group. Conal oversees podcasting at a giant radio company, and his group accounts for a quarter of iHeart’s revenue, which was $1 billion last quarter alone. His team makes some of the biggest podcasts around, with huge talent like Will Ferrell, Shonda Rhimes, and Charlamagne tha God, who you’ll hear Conal talk about quite a lot. Conal and iHeart Digital earned that success by doing some unconventional things. Whereas other big podcasting players like Spotify and Apple have tried to boost revenue

Hello and welcome to Decoder. I’m Nilay Patel, editor in chief of The Verge, and Decoder is my show about big ideas, and other problems.  Today, I'm talking to Mitchell Baker, the chairwoman and CEO of Mozilla, the organization behind the Firefox browser, the Thunderbird email client, the Pocket newsreader, and a bunch of other interesting internet tools. Now as you all know, Decoder is secretly a podcast about org charts – maybe not so secretly, and Mozilla’s structure is really interesting. Mozilla itself is a nonprofit foundation, but it contains within it something called the Mozilla Corporation, which actually makes Firefox and the rest. Mitchell is the chairwoman of the foundation, and the CEO of the corporation. And the Mozilla Corporation, which they charmingly call MoCo, can make a profit - or it can least be taxed, which is an important distinction you’ll hear Mitchell talk about. I bring this up because Mozilla has been around since 1994 in a variety of structures and business models – it starte

I’m coming to you from Microsoft’s campus in Redmond, where just a few hours ago, Microsoft announced that the next version of the Bing search engine would be powered by OpenAI, the company that makes ChatGPT. There’s also a new version of the Edge web browser with OpenAI chat tech in a window that can help you browse and understand web pages.  The in-depth presentation showed how OpenAI running in Bing and Edge could radically increase your productivity. They demo’d it making a travel itinerary, posting to LinkedIn, and rewriting code to work in a different programming language. After the presentation, I was able to get some time with Microsoft CEO Satya Nadella. Nadella has been very bullish on AI. He’s previously talked about AI as the next major computing platform. I wanted to talk about this next step in AI, the partnership with OpenAI, and why he thought now was the best time to go after Google search. This is a short interview, but it’s a good one. Okay, Satya Nadella, CEO of Microsoft. Here we go. Wa

HBO started as an experiment. It was a way to get people to switch from getting TV over broadcast antennas to cable by offering events you’d otherwise need tickets to see: boxing, plays, movies. That’s where the name Home Box Office comes from. But it grew from there in surprising ways: HBO was a major innovator in satellite distribution, in working with cable operators around the country, and of course in programming. The company’s taste and style has influenced and shaped culture for a generation now. And importantly, HBO did it without any real data: the cable companies owned all the subscribers, so HBO made decisions through instinct and experience. The amazing thing about HBO is that it has stayed true to itself through an absolutely tumultuous set of ownership changes and strategy shifts. If you’re a Decoder listener you know about the chaos of AT&T and HBO Max and the sale to Discovery to create Warner Brothers Discovery, but it’s so much twistier than that. I talked through all of those twists with

A few weeks ago, President Biden was in the Netherlands, where he asked the Dutch government to restrict export from a company called ASML to China. ASML is the only company in the world that makes a specific machine needed to make the most advanced chips. Apple couldn’t make iPhone chips without this one machine from the Netherlands’ biggest company. ASML doesn’t just shape the Dutch economy—it shapes the entire world economy. How did that happen? Chris Miller, Tufts professor and author of Chip War: The Fight For The World’s Most Critical Technology walked me through a lot of this, along with some deep dives into geopolitics and the absolutely fascinating chip manufacturing process. This one has everything: foreign policy, high powered lasers, hotshot executives, monopolies, the fundamental limits of physics, and, of course, Texas. Here we go. Links: US issues sweeping restrictions on chip sales to China Japan and the Netherlands join US with tough chip controls on China Pat Gelsinger came back to turn Int

I have this theory that music is usually about five years ahead of the rest of media in terms of its relationship to tech—whether that’s new formats based on new tech, like vinyl to CDs; new business models like streaming; or simply being disrupted by new kinds of artists who use new forms of promotion like TikTok in unexpected ways. I’ve always thought that if you can wrap your head around what’s happening to the music industry, you can pretty much see the future of TV or movies or the news or whatever it is, because the music industry just moves that fast. I was talking about this with my friend Charlie Harding, the co-host of Switched on Pop, and he said that he thinks the upcoming Taylor Swift Eras Tour is itself the end of an era in music — that the age of cheap streaming services is coming to an inevitable conclusion, and that something has to change in order for industry to sustain itself in the future.  So, in this episode, Charlie and I walk through a brief history of the music business—which, desp

Last year I spoke with Cory Doctorow and Rebecca Giblin about their new book, Chokepoint Capitalism. It’s a book about artists and technology and platforms, and how different kinds of distribution and creations tools create chokepoints for different companies to capture value that might otherwise go to artists and creators.. In other words, it’s a lot of Decoder stuff. As we were prepping this episode, the Decoder team realized it previews a lot of things we’re going to talk about in 2023: antitrust law. Ticketmaster. Spotify and the future of the music industry. Amazon and the book industry. And, of course, being a creator trying to make a living on all these platforms. This episode is longer than normal, but it was a really great conversation and I'm glad we are sharing it with you. Links: What is Mixer, Ninja’s new exclusive streaming home? Ninja returns to Twitch This was Sony Music's contract with Spotify Transcript: https://www.theverge.com/e/23311918 Credits: Decoder is a production of The Verge and