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Plain English with Derek Thompson

Ben Smith on the Future of News, How to Start a Media Company, and Why TikTok Is a Time Bomb

Plain English with Derek Thompson

The Ringer

News, News Commentary

4.72.1K Ratings

🗓️ 26 October 2022

⏱️ 37 minutes

🧾️ Download transcript

Summary

About a week ago, a new global news organization launched called Semafor. Ben Smith is its cofounder and editor-in-chief. We offer a brief history of news media in the 21st century and talk about why in some ways the news business is more like the 19th century than the 20th. We discuss what to say to investors when you’re trying to get their money to start a new media company, and debate why TikTok is the biggest undercovered media story in the world. Host: Derek Thompson Guest: Ben Smith Producer: Devon Manze Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

Yo, this is Rob Harvilla from 60 Solls that explain the 90s, the world's greatest loopy and perverse and inaccurately named Music Nostalgia Podcast.

0:09.0

We're doing 90 Solls now because there's too many songs, Pearl Jam, Jay Z, Jewel, U2, Cher, Hoody.

0:16.0

These are just some of the names people yell at me on the internet because we're back.

0:20.0

More great Solls, more rad special guests, more loopy perversity.

0:25.0

Join us once more on 60 Solls that explain the 90s every Wednesday on Spotify.

0:31.0

Today's episode is about the news media.

0:34.0

About one week ago, the new news organization Semaphore launched.

0:39.0

Its CEO is Justin Smith, who was the CEO of Bloomberg News and before that, the president of the Atlantic, my company.

0:46.0

The co-founder and editor-in-chief is Ben Smith, who's been all over the place and was most recently the media columnist for the New York Times.

0:54.0

Now, one thing that journalists love to do is talk about other journalists.

0:58.0

And the truth is, we don't really do a whole lot of that on this show.

1:02.0

But what this episode supposes is maybe we should because media gossip is fun.

1:08.0

Sometimes stupid, but sometimes incredibly important.

1:11.0

And Semaphore, which has global aspirations, has an interesting twist on its presentation of the news that I find particularly interesting.

1:19.0

And particularly deep in terms of the way that audiences consume news information.

1:25.0

Semaphore's newsletters are meant to be down the middle, just the facts man reporting, but they have a section set aside for the author's opinion.

1:33.0

When the first few newsletters came out, a couple of my friends who saw this said, huh, that's kind of weird, right?

1:39.0

Like a mini op-ed inside of a news article.

1:42.0

And I was like, no, I love this.

1:45.0

I love it because it's something that I try to do on this show.

1:47.0

Sometimes when there's a really complicated topic, particularly a really controversial topic, I'll say let's break this up into evidence versus interpretation.

1:56.0

Part one, here are the facts that we can all agree on, here are the numbers, here are the things that happened in the physical world.

...

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