All Segments
Jonah Peretti Interview with Mark Suster | Upfront Summit 2017
31 segments available
Jonah Peretti, CEO of Buzzfeed, joins Mark Suster of Upfront Ventures to discuss viral media, his days at Huffington Post, founding Buzzfeed, and how fake news affected the election and continues to shape the media landscape.
Segments Timeline
The Birth of Viral Media
Jonah Peretti shares his early experiences with viral media, starting from his time at MIT. He recounts a provocative incident involving customized Nike shoes with the word 'sweatshop' and how it led to an unexpected viral email that reached millions. This segment highlights the power of sharing and the absence of gatekeepers in the early internet, setting the stage for his later work at BuzzFeed.
"even before BuzzFeed when I would talk to people about what was going on on the internet they said if anyone understands viral media it's Jonah Peretti what did you learn in that era what what lessons..."
The Birth of Viral Media
Jonah Peretti shares his early experiences with viral media, starting from his time at the MIT Media Lab. He recounts a provocative experiment involving Nike shoes and how it led to his first viral email forward, illustrating the power of sharing and social networks before the rise of major platforms like YouTube and Facebook. This segment highlights the concept of reaching vast audiences without traditional media gatekeepers.
"even before BuzzFeed when I would talk to people about what was going on on the internet they said if anyone understands viral media it's Jonah Peretti what did you learn in that era what what lessons..."
Navigating the Early Internet Landscape
Peretti discusses the unique environment of the early 2000s internet, where few were focused on creating viral content. He reflects on his successes with viral projects and the lack of competition, emphasizing how the open networks allowed for rapid sharing and audience growth. This segment illustrates the foundational ideas that shaped his approach to media and content creation.
"or problem or idea that I've been thinking about for a long time Concepts like six degrees of separation in small worlds where people are connected everyone else through only a few jumps and um and th..."
The Evolution of Media and Viral Content
Peretti discusses the early days of viral media, emphasizing the lack of competition and the organic nature of content sharing. He reflects on how he and others viewed the internet as a new media frontier, leading to significant viral hits. This segment explores the dynamics of early viral content creation and the unique opportunities presented by an open network.
"or problem or idea that I've been thinking about for a long time Concepts like six degrees of separation in small worlds where people are connected everyone else through only a few jumps and um and th..."
Gaming the Media Landscape
In this segment, Peretti and Suster delve into the manipulation of platforms like Digg, where groups would coordinate to upvote stories, influencing visibility and coverage. Peretti shares insights from his time at Huffington Post, discussing the challenges of maintaining integrity in media amidst attempts to game the system. This highlights the complexities of content visibility and the ethical dilemmas faced by media platforms.
"and very few people following it and trying to understand it one of the things that surprised me Jonah and I don't know if you had any experience with this I guess I'm sort of one of those naive guys ..."
The Dark Side of Viral Platforms
In this segment, Peretti and Suster delve into the complexities of platforms like Digg, discussing how certain groups manipulated the system to control which stories gained visibility. Peretti shares insights from his time at Huffington Post, revealing the challenges of maintaining integrity in a media landscape where stories could be gamed for visibility.
"and very few people following it and trying to understand it one of the things that surprised me Jonah and I don't know if you had any experience with this I guess I'm sort of one of those naive guys ..."
The Responsibility of Media Platforms
Peretti addresses the responsibilities of media platforms in combating fake news and ensuring quality content. He argues that platforms must share their economic success with content creators to improve the overall quality of media. This segment emphasizes the ongoing challenges in the digital media landscape and the need for accountability among platforms.
"only one front page for them so going back many years more than a decade it sounds like you kind of knew the media business could be gamed and was gamed or at least groups of people could influence th..."
The Responsibility of Platforms
Peretti addresses the responsibilities of media platforms in combating fake news and ensuring quality content. He argues that platforms must share revenue with content creators to improve content quality and reduce the prevalence of low-cost, misleading information. This segment emphasizes the evolving role of platforms in the media ecosystem and the need for accountability in content creation.
"coverage well like talking about the Obama Hillary what you said was there was a group of people kind of controlling what ended up on the stories that had a preference that ended up influencing the co..."
The Shift in Content Economics
Peretti reflects on the changing economics of content distribution, noting that platforms are beginning to pay content creators rather than the other way around. He compares this shift to the cable industry, where the value of quality programming has led to increased revenue for content creators, suggesting a positive trend for the future of media.
"and it knows it needs to compete with the 800lb gorillas they are super content friendly super influencer friendly roll out the red carpet as soon as they develop power now they're starting to say wel..."
The Shift in Content Economics
In this segment, Peretti reflects on the changing economics of content creation, noting that platforms like Facebook and YouTube are beginning to pay creators for quality content. He draws parallels to the cable industry, suggesting that as platforms recognize the value of quality programming, they will invest more in content creators.
"platform when it emerges as it's growing and it knows it needs to compete with the 800lb gorillas they are super content friendly super influencer friendly roll out the red carpet as soon as they deve..."
The Importance of Content in the Mobile Stack
Peretti discusses the significance of content within the mobile ecosystem, noting that as platforms evolve, content becomes a key differentiator. He highlights the trend of telecom companies investing in content to avoid commodification and the growing importance of quality content in driving user engagement.
"that that necessarily it's in their interest to use that power to to make content as cheap as it possibly can be because that's when you have the Macedonian teens able to build a business creating fak..."
The Importance of Content in the Mobile Stack
Peretti discusses the critical role of content in the mobile ecosystem, emphasizing that as platforms become more powerful, the demand for quality content increases. He highlights how companies like Verizon and AT&T are investing in content to differentiate themselves, indicating a shift towards valuing content as a key asset in the mobile landscape.
"that that necessarily it's in their interest to use that power to to make content as cheap as it possibly can be because that's when you have the Macedonian teens able to build a business creating fak..."
The Rise of Video in Media
In this segment, Peretti shares insights on the growing significance of video content at BuzzFeed. He notes that video now constitutes a substantial portion of their revenue and discusses how advancements in technology have made video more accessible and effective on mobile platforms, leading to innovative formats that engage audiences.
"stack so you see all the you know Verizon and T-Mobil and atnts trying to get into content and buy content because they they want the content to help them not be commodified you see as I mentioned bef..."
The Rise of Video in Media
In this segment, Peretti shares insights on the rapid growth of video as a dominant format in media. He discusses how video has become a significant revenue source for BuzzFeed and its adaptability to mobile platforms, emphasizing the evolution of video formats that cater to modern consumption habits.
"stack so you see all the you know Verizon and T-Mobil and atnts trying to get into content and buy content because they they want the content to help them not be commodified you see as I mentioned bef..."
BuzzFeed's Evolution: From Viral to Serious Journalism
Peretti reflects on BuzzFeed's transformation from a source of lighthearted, viral content to a more serious player in journalism. He discusses the importance of investing in quality journalism and how this shift aligns with broader changes in the media landscape, emphasizing the need for media companies to adapt to the digital age.
"media um I mean I see I see we see a very crossplatform cross format you know multiformat Global future for media um and with with the the this larger largest addressable Market that has ever existed ..."
BuzzFeed's Evolution from Viral to Serious Journalism
Peretti reflects on BuzzFeed's transition from lighthearted, viral content to a more serious approach involving real journalism. He discusses the broader shift in the media landscape towards digital and mobile, and how BuzzFeed aims to adapt and thrive in this changing environment.
"media um I mean I see I see we see a very crossplatform cross format you know multiformat Global future for media um and with with the the this larger largest addressable Market that has ever existed ..."
The Role of News in Media Strategy
Peretti discusses the critical role of news in BuzzFeed's strategy, likening it to a long-term investment. He draws parallels to historical media figures like Ted Turner, explaining how a balanced media approach can enhance audience engagement and consumption, especially during significant events like elections.
"models and so when I look at at BuzzFeed what do great Medias media companies have they have entertainment division they have news division um you have to um be really great at partnering with adverti..."
Taking a Stand Against Political Rhetoric
Peretti shares his perspective on the responsibility of media leaders to speak out against harmful political rhetoric. He recounts BuzzFeed's decision to reject advertising from the Trump campaign, emphasizing the impact of such decisions on employees and the broader audience.
"models and so when I look at at BuzzFeed what do great Medias media companies have they have entertainment division they have news division um you have to um be really great at partnering with adverti..."
Taking a Stand Against Political Rhetoric
Peretti shares his perspective on the responsibility of media leaders during politically charged times. He recounts BuzzFeed's decision to reject advertising from the Trump campaign, motivated by the impact of the campaign's rhetoric on his employees and the broader implications for journalism.
"important part of what we do during the election cycle as Citizens I think a lot of us were looking at the leaders of our industry of the tech industry of the media industry to speak out to take a sta..."
Navigating Political Advertising Decisions
In this candid discussion, Peretti explains the rationale behind BuzzFeed's cancellation of a political advertising deal with the RNC after Trump's nomination. He reflects on the ethical considerations of advertising in light of employee sentiments and the potential implications for the company's values.
"important part of what we do during the election cycle as Citizens I think a lot of us were looking at the leaders of our industry of the tech industry of the media industry to speak out to take a sta..."
Navigating Ethical Advertising Decisions
In this segment, Peretti elaborates on the complexities of political advertising and the ethical considerations that led BuzzFeed to cancel a significant advertising deal with the RNC. He emphasizes the importance of aligning business decisions with the values and well-being of employees and the audience.
"figure upfront from the RNC um and we we do political advertising is not a huge part of our business but but we take political advertising from you know Republicans and Democrats and various other adv..."
Corporate Responsibility in Times of Crisis
Peretti discusses the evolving expectations of corporations to protect their employees' rights amid political turmoil. He highlights the shift in how employees view their companies as potential advocates for social issues, reflecting on the broader implications for corporate responsibility.
"to to cancel the order and it was a tough decision to make um part um not because we were losing money um it was mostly a tough decision to make because we're not part of the nice thing about a church..."
Embracing Criticism and Finding Purpose
Peretti shares BuzzFeed's reaction to Trump's derogatory remarks about the company, turning a negative comment into a source of pride. He discusses how such challenges can foster a sense of purpose among employees and the importance of maintaining a positive company culture despite external pressures.
"employees say hey Will BuzzFeed help defend our Reproductive Rights will BuzzFeed help defend you know uh us if if immigrants are attacked and generally as a CEO of company I didn't I you know my expe..."
Corporate Responsibility in Times of Crisis
Peretti reflects on the evolving expectations of corporations to protect their employees' rights and values in light of political changes. He discusses the shift in public sentiment towards seeking corporate accountability for social issues, highlighting the challenges and responsibilities faced by leaders.
"order so perhaps as a society one model if people feel vulnerable or attacked is instead of looking necessarily to their leadership to do what you did if they mobilize within companies and hold their ..."
The Decision to Publish the Dossier
In this segment, Peretti explains the context and reasoning behind BuzzFeed's controversial decision to publish the dossier on Trump and Russia. He discusses the media's responsibility to inform the public and the implications of withholding information that was already circulating among elite media and government circles.
"functional San government but if we can't have that um some people in your industry your brethren so leave aside Trump um have criticized you for a Monumental decision you guys made to publish a dossi..."
Embracing Criticism and Finding Purpose
Peretti addresses the backlash BuzzFeed faced for its editorial decisions, particularly regarding the publication of the Trump-Russia dossier. He explains the rationale behind the decision and how it resonated within the media landscape, ultimately fostering a sense of purpose among BuzzFeed employees.
"employees say hey Will BuzzFeed help defend our Reproductive Rights will BuzzFeed help defend you know uh us if if immigrants are attacked and generally as a CEO of company I didn't I you know my expe..."
The Decision to Publish the Dossier
In this segment, Peretti discusses the context and implications of BuzzFeed's decision to publish the controversial dossier on Trump and Russia. He highlights the importance of transparency in journalism and the public's right to access information that influences political discourse.
"company yeah so uh the I think that a lot of us felt tremendous Pride when Trump called us a failing pile of garbage um and we uh Within 3 hours we had you know made uh BuzzFeed branded garbage cans a..."
Navigating Media Criticism
In this segment, Peretti addresses the backlash from other media companies regarding BuzzFeed's decision to publish the dossier. He discusses the differing opinions within the media landscape and the importance of transparency in journalism. This highlights the ongoing debate about the responsibilities of media organizations in reporting sensitive information.
"good about the decision and I think it was the right decision and a lot following publication lots of of further reporting has has um happened that would not have been able to happen if had we not pub..."
Navigating Criticism from Peers
In this segment, Peretti addresses the backlash BuzzFeed faced from other media organizations regarding the publication of the dossier. He discusses the complexities of media ethics and the differing opinions on transparency in journalism, highlighting the importance of informed decision-making in reporting.
"was the right decision and a lot following publication lots of of further reporting has has um happened that would not have been able to happen if had we not published it and talk about the decision p..."
The Future of Digital Media
Peretti forecasts the evolution of digital media over the next few years, predicting a shift in perception where digital content will be seen as the primary form of media. He discusses the success of BuzzFeed's shows and the advantages of digital platforms in audience engagement. This segment encapsulates the transformative potential of digital media in shaping future content consumption.
"companies have criticized the decision because if I I think even Brian stelter who I think is a pretty sensible person if I'm not mistaken criticized it or CNN has criticized it what's their logic for..."
The Future of Digital Media
Peretti forecasts the evolution of digital media over the next few years, predicting a shift in perception where digital content becomes the primary medium for storytelling. He discusses the advantages of digital platforms, including audience engagement and feedback, and how this will redefine the media landscape. This segment captures the transformative potential of digital media.
"two sides of it last question you have been at the Forefront the last five or six major Trends as the media industry has evolved when you look ahead what do you see what do you see in the next three t..."