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Super interesting thread, and a useful counter-narrative to “we’re only failing because our target audience is too dumb/cheap/easily manipulated” & its better-dressed but no less condescending sister take, “social media ruined everything.”https://twitter.com/JeremyLittau/status/1088503510184927233 …
The web eating traditional media = central planning meets the market, hierarchy meets iteration. There are creative niches to carve out, but the first step is admitting that newspaper-as-curator was a subpar solution to a search problem. The genie’s not going back in the bottle.
Also in buzzfeed’s case, news literally had no business model. It was there to hit the VCs (and maybe advertiser/sponsor) MAU/DAU target. ARPU was *designed* to be zero. Ben told me on a call that they didn’t want readers to know how it was paid for.
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