Channels with Peter Kafka

The New York Times faces the same challenges every other news organization faces in 2025. But it’s also in way better shape to take those challenges on: Thanks to a business model built on 11 million subscribers, it’s not nearly so worried about things like the fluctuations of the ad business, or changes in Google’s algorithm. That comparative strength also gives NYT publisher AG Sulzberger the ability to do things his peers can’t or won’t do: Like suing OpenAI for copyright infringement, instead of taking a cash settlement. Or calling out the likelihood of a press crackdown if Donald Trump was re-elected - a call he made in September that looks very prescient today. We talk through both of those issues in this conversation, and a bunch more - like the role of the NYT opinion section, how willing the Times is to experiment, and how the paper thinks about the economic turmoil we now find ourselves in. Learn more about your ad choices. Visit podcastchoices.com/adchoices

The Trump 2.0 era is less than three months old. But it’s already creating havoc for journalists and the companies they work for. In Washington, Trump and his team are demoting traditional media - or kicking them out of the White House entirely. In corporate boardrooms, he is forcing media owners to settle lawsuits they would normally fight, and to submit to investigations from newly aggressive regulators. Again: We’re just at the beginning of this new era. What’s coming down the pike? I asked Sara Fischer, the excellent and Washington-wired media correspondent, to walk me through it Learn more about your ad choices. Visit podcastchoices.com/adchoices

Call it symbiosis. Call it co-dependency. However you want to characterize it, there’s zero debate that Big TV and Big Sports are deeply intertwined. So if the TV business is shrinking, what happens to sports? That’s the main question I had for John Ourand, the longtime sports business reporter who’s now at Puck. But I had lots of related ones, like: Now that (some) college students are getting paid to play sports, how does that affect the TV product itself? What’s happening to the local sports networks that bring you baseball, basketball and hockey? And is the sports betting media boom drying up? Learn more about your ad choices. Visit podcastchoices.com/adchoices

Anyone who makes things thinks they could do it better if they had more. More money, time, headcount, infrastructure. Some of us find there can be upsides to doing it with less, too. That's not exactly PJ Vogt's story but I think it's directionally accurate: Vogt cohosted a huge hit podcast - Reply All - and when he decided to try again - with Search Engine - he had a lot less to work with. That shaped his thinking about the company he wanted to run and the product it puts out each week. It seems like it's working, and Vogt walks us through the details and his decisions. Also joining me: Zach Mack, who has helped other people (like me) make podcasts for years, made one that only he could make. Go listen to his "Alternate Realities" series on NPR's Embedded - but first listen to how he made it. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Back when I first started covering the internet, the idea of broadcasting yourself for hours on end seemed like a pipe dream for weirdos. Now it's how some people make a living. Twitch more or less created live-streaming in the U.S., which is why Amazon bought it for about $1 billion back in 2014. But now there are plenty of places to watch, and create, live streams. How does Twitch fend off competitors? How does it convince its most popular streamers to keep streaming? And how will Amazon eventually make real money from the operation, which is was still in the red a few years ago? Those are all questions I asked Twitch CEO Dan Clancy, at a live taping at South by Southwest. Clancy also got to hear firsthand from Twitch's users and partners in a Q&A session at the end of our chat. Thanks to everyone who came out, and thanks to the folks at the Vox Media podcast network for putting it all together. Learn more about your ad choices. Visit podcastchoices.com/adchoices

We had to stop recording this one for a minute, because Matt Belloni got a text. More on that below. Big picture: Matt is a longtime Hollywood reporter - and lawyer before that - who now has the industry's ear via his writing at Puck and his The Town podcast. I asked him to talk about what lies ahead for the Oscars, the out-of-step TV production that still has big audiences and prestige; and the current state of Hollywood, the business. Also discussed here: Awards party catering, and the most popular movie executive who isn't Bob Iger. For the record: When we started recording this podcast, the audience for Sunday's Oscar awards had declined yet again. By the end of it, new numbers meant it was the most popular show in the last five years. Obviously we would have preferred to know that in advance. Learn more about your ad choices. Visit podcastchoices.com/adchoices

The most useful class I ever took in college was a media law class, where I learned two things: 1) Journalists in the U.S. (along every other American citizen) have enormous freedom to say and write what they want, without fear of a defamation suit and 2) this freedom exists largely because of New York Times v Sullivan, a seminal Supreme Court case. Now NYT v Sullivan is under concerted attack, from a group that includes wealthy and powerful people and companies; lawyers who see an opportunity; and, of course, Donald Trump. David Enrich, an editor who oversees business investigations at the Times, gets to do his work in large part because of the court precedent set decades ago. His upcoming book Murder the Truth takes us on a tour of incidents that show what losing NYT v Sullivan could mean for journalism in the U.S. — and how powerful people are already chipping away at press freedom. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Everyone knows that video games are giant, fast-growing business that's going to swamp traditional media. Except that's not true: The games business is now in a prolonged and confusing funk. Investor and analyst Matthew Ball has been diving deep into the industry, so I asked him to take a stab at explaining what's going on. Bonus question: When does the face computer's moment finally arrive? Learn more about your ad choices. Visit podcastchoices.com/adchoices

A decade ago BuzzFeed was the bleeding edge of digital media, and Serious People thought it was going to be a threat to the likes of the New York Times. Many rounds of layoffs and asset sales later, BuzzFeed is a much more modest operation. But say this for Jonah Peretti: He continues to pitch Very Big Ideas for his company. Now the BuzzFeed CEO thinks he can create an internet that doesn’t run on content that makes you feel lousy, and that he can also create his own social network. I am… skeptical, but I wanted to hear him out, and now you can make up your own mind. Learn more about your ad choices. Visit podcastchoices.com/adchoices

It’s hard to remember now. But just a few years ago, sports betting was illegal in almost all of United States. And sports leagues and the media companies that worked with them wanted nothing to do with anything that even referenced gambling. Things are very, very different now! And it happened so quickly that very few people have stopped to ask what any of this means for America, and what it will mean down the road. Those questions — and the reasons why so few of us are posing them — turn out to be a great topic for Michael Lewis. You can hear him grappling with them in the excellent new season of his “Against the Rules” podcast series. And I was delighted to discuss all of it with him on my show. It also gave me an opportunity to discuss “The Fifth Risk” - his 2018 book about Donald Trump’s first attempt to take over federal government, which is extra-timely right now. And I couldn’t let him go without a brief chat about crypto and Sam Bankman-Fried. Learn more about your ad choices. Visit podcastchoices.com/adchoices

I haven’t checked in with Jessica Lessin in some time — and I have to say I picked a pretty good time to catch up with her. Because Silicon Valley is undergoing something meaningful right now, and she’s in a great position to tell us more about it: Lessin is a veteran technology reporter who founded The Information in 2013, and it has been a go-to for anyone who wants serious reporting about tech in the Bay Area and around the world, ever since. Discussed in this episode: What’s really animating tech’s embrace of Donald Trump? What’s going to happen to TikTok? And what does the arrival of DeepSeek mean for the AI boom? Learn more about your ad choices. Visit podcastchoices.com/adchoices

TikTok banned itself for less than a day. Now it’s back in the U.S. - despite a law that says it shouldn’t be operating. We’re not going to weigh in on all of the… weirdness around the last few days on this episode, in part because we don’t know how it’s going to play out. But in the meantime I wanted to talk to someone who knows how TikTok actually works — from a content creator’s perspective, at least. Adam Faze runs Gymnasium, a small production studio that specializes in TikTok videos, and so far it’s gone well: In 18 months, he’s launched two successful shows, signed up Amazon to sponsor one of them, and is ramping up to make more. He walked me through the way companies like his actually make money on TikTok, how the platform differs from TikTok clones like Instagram Reels, and how he thinks this could grow in the future. Assuming TikTok sticks around the U.S., that is. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Why didn’t Meta’s stock move when Mark Zuckerberg announced his pro-MAGA pivot? Why do big media companies want to dump their cable TV networks — but hang on to their broadcast TV networks? What’s going to happen in Google’s antitrust case?These are all good questions, right? I think so, too. So I posed them, along with many more, to MoffettNathanson’s Michael Nathanson, one of the sharpest Wall Street analysts covering tech and media. We cover a lot of ground in a short time, and I think you’ll enjoy this one. Learn more about your ad choices. Visit podcastchoices.com/adchoices

I’m a lucky man. Whenever I’m baffled by the internet, and social media, I turn to my co-worker Katie Notopoulos, who is there to explain it to me. That’s because Katie’s job at Business Insider is to explain how the internet works — how the people who run big internet platforms want it to work, and what the people who actually use those platforms do on it, for better and for worse. So that’s what we’re talking about today, to help ease us into the new year. Discussed here: Why Katie still loves the internet and technology, even with all of its many warts; how she came to be a professional chronicler of the internet; how her views on all of this are changing as her kids grow older; and poop. Lots of poop talk here. You’re gonna love it. Note: We recorded this chat on January 6 — a day before Mark Zuckerberg announced he was going to reshape his entire company to accommodate the upcoming Trump administration. So that’s why it’s not in this conversation. Rest assured - we’ll be talking about this a lot in future episodes. Happy 2025! Learn more about your ad choices. Visit podcastchoices.com/adchoices

I don’t love a lot of year-end #content . But I do love talking to Bloomberg’s Lucas Shaw every year, to help put the year in media in perspective, and to think about what might be coming in 2025. And that’s exactly what we did here. Enjoy it now, or over your break. We’ll see you again in January. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Newsletters are not a new idea. Yet every few years the media business rediscovers them, anyway — either as a way to quickly launch a startup with bigger ambitions, or as a standalone business. Tim Huelskamp took the second route in 2017, when he co-founded 1440 — a newsletter that promises to quickly bring you the most important news of the day. Again — not a new idea. But Huelskamp seems to have figured out how to build something pretty big: He says 1440 has 4 million readers, and is turning a profit on something like $20 million in annual revenue. How’d he do it? What’s he going to do next? And how will he compete with AI companies that can do all of this faster, and cheaper? I’m glad you asked: I’ve got the same questions, so I asked him myself. Learn more about your ad choices. Visit podcastchoices.com/adchoices

You probably shouldn't know Renee DiResta's name: She's a researcher who studies online bad behavior, not a celebrity. But the work DiReata did studying the "stop the steal" movement after 2020 has made her famous in some corners of the internet, and not in a good way: She's been harassed, pelted with subpoenas and sued twice. Now things could get really unpleasant for her. Donald Trump's victory means that a lot of people who have target dDiResta in the past are newly ascendant. But she tells me she's more worried about a chilling effect that could hamper anyone who's trying to learn about, and fix social media's ills. Also discussed here: what not to do when you go on Joe Rogan. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Lots of people start media companies using money from rich people. Jason Koebler and his colleagues did it themselves, using a grand total of $4,000. That was back in the summer of 2023. Now 404 Media, the tech news + investigations site they started after leaving Vice Media, is a success story. Koebler tells us how they started, how it’s going, and what he’d like to do next. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Tucker Carlson, Megyn Kelly and Bari Weiss all used to work for big mainstream media companies. Now they’re on the internet, building their own companies, with the help of Chris Balfe. Balfe’s Red Seat Ventures helps online creators set up shop, produce programming, and — crucially — helps them monetize through ad sales and/or subscriptions. Balfe got his start working with Glenn Beck when the former Fox News star left and started his own online business. I always assumed we’d see other high-profile talent follow Beck’s footsteps, but it took much longer than I thought. Now it’s a reality, and the talent Balfe works with may very well have helped re-elect Donald Trump. You can’t escape politics when you talk to someone who works with Tucker Carlson, and we spend a little bit of time on that in our chat. But this is really a discussion about how online media — primarily podcasts and YouTube — works today, and where it’s going next. Learn more about your ad choices. Visit podcastchoices.com/adchoices

You want up-to-the minute election analysis? Sorry, not on this episode. But: If you want smart thoughts about politics and media and tech all merged together? We got you here, courtesy of The Atlantic’s Charlie Warzel, who came on to discuss how we should think about Elon Musk, Donald Trump supporter, being the same person as Elon Musk, guy who owns Twitter. Plus, because it’s Charlie: A useful way to think about what misinformation is, and isn’t. And! If you don’t want politics in your podcast today, we can accommodate that too, via a chat with Griffin Gaffney, the CEO/publisher of the San Francisco Standard. The Standard, owned by billionaire Mike Moritz, is a three-year-old news startup that lots of people in the Bay Area seem to love. And I wanted to know how he’s making it work, and the pros and cons of having a billionaire owner, and how he thinks the paper might actually turn a profit some day. Ideally, you’ll listen to both of these chats. But it’s a podcast! You do you. Learn more about your ad choices. Visit podcastchoices.com/adchoices