WEBVTT 00:03.903 --> 00:05.839 >> FUNDING FOR OVERHEARD 00:05.839 --> 00:06.740 WITH EVAN SMITH IS PROVIDED 00:06.740 --> 00:08.141 IN PART BY THE MATTSSON 00:08.141 --> 00:10.043 MCHALE FOUNDATION IN SUPPORT 00:10.043 --> 00:10.944 OF PUBLIC TELEVISION. 00:10.944 --> 00:13.246 ALSO BY MFI FOUNDATION, 00:13.246 --> 00:14.347 IMPROVING THE QUALITY OF 00:14.347 --> 00:15.949 LIFE WITHIN OUR COMMUNITY. 00:15.949 --> 00:17.851 AND FROM THE TEXAS BOARD OF 00:17.851 --> 00:19.052 LEGAL SPECIALIZATION, BOARD 00:19.052 --> 00:20.754 CERTIFIED ATTORNEYS IN YOUR 00:20.754 --> 00:21.755 COMMUNITY. 00:21.755 --> 00:23.556 EXPERIENCED, RESPECTED AND 00:23.556 --> 00:24.557 TESTED. 00:24.557 --> 00:26.760 ALSO BY HILLCO PARTNERS, 00:26.760 --> 00:27.761 TEXAS GOVERNMENT AFFAIRS 00:27.761 --> 00:29.796 CONSULTANCY, AND ITS GLOBAL 00:29.796 --> 00:30.797 HEALTH CARE CONSULTING 00:30.797 --> 00:33.299 BUSINESS UNIT, HILLCO 00:33.299 --> 00:33.600 HEALTH. 00:33.600 --> 00:35.702 AND BY THE ALICE KLEBERG 00:35.702 --> 00:36.803 REYNOLDS FOUNDATION AND 00:36.803 --> 00:37.504 VIEWERS LIKE YOU. 00:37.504 --> 00:37.904 THANK YOU. 00:37.904 --> 00:39.806 >> I'M EVAN SMITH. 00:39.806 --> 00:41.307 HE'S A BEST SELLING, 00:41.307 --> 00:43.610 CRITICALLY ACCLAIMED AUTHOR 00:43.610 --> 00:44.911 OH HAS BEEN WRITING ABOUT 00:44.911 --> 00:46.212 THE MEDIA BUSINESS FOR 25 00:46.212 --> 00:47.213 YEARS, LAST 11 FOR THE "NEW 00:47.213 --> 00:47.714 YORK TIMES". 00:47.714 --> 00:49.516 HE'S DAVID CARR. 00:49.516 --> 01:20.046 THIS IS OVERHEARD. 01:20.046 --> 01:23.350 >> DAVID CARR, WELCOME. 01:23.350 --> 01:25.051 >> NICE TO BE HERE. 01:25.051 --> 01:26.653 >> ALWAYS NICE TO SEE YOU. 01:26.653 --> 01:27.554 LET ME ASK YOU ABOUT YOUR 01:27.554 --> 01:28.655 PAPER, THE "NEW YORK TIMES". 01:28.655 --> 01:29.789 MANY OF US READ IT HERE AND 01:29.789 --> 01:30.690 ELSEWHERE. 01:30.690 --> 01:32.292 NEWS THE LAST COUPLE OF 01:32.292 --> 01:33.993 WEEKS, YOU HAD SOME 01:33.993 --> 01:36.096 DEPARTURES FROM PEOPLE WHO 01:36.096 --> 01:37.197 HAD BEEN IN THE PAPER FOR A 01:37.197 --> 01:38.498 LONG TIME, NAMES WE KNEW, 01:38.498 --> 01:38.998 LEFT. 01:38.998 --> 01:40.800 HOW ARE THE MOODS AROUND THE 01:40.800 --> 01:41.401 OFFICE? 01:41.401 --> 01:42.402 WHAT'S THE STATE OF THINGS 01:42.402 --> 01:43.103 THERE? 01:43.103 --> 01:45.105 >> I THINK PEOPLE SPEND FAR 01:45.105 --> 01:46.506 TOO MUCH TIME WORRYING ABOUT 01:46.506 --> 01:47.307 THE MOOD OF THE "NEW YORK 01:47.307 --> 01:52.212 TIMES" AND NOT ENOUGH TIME 01:52.212 --> 01:53.213 SORT OF LOOKING AT THE 01:53.213 --> 01:53.913 PRODUCT. 01:53.913 --> 01:55.715 WE ALL WOULD LIKE TO THINK 01:55.715 --> 01:57.017 THAT WE'RE ABSOLUTELY 01:57.017 --> 01:58.718 ESSENTIAL TO WHAT HAPPENS 01:58.718 --> 01:59.319 THERE. 01:59.319 --> 02:01.721 AND IF WE LOSE SOMEBODY AS 02:01.721 --> 02:03.823 TALENTED AND AS GOOD AS JOHN 02:03.823 --> 02:06.426 GEDDIS, OUR MANAGING EDITOR 02:06.426 --> 02:08.728 AND JOHN LANDON WHO PLAYED A 02:08.728 --> 02:10.830 SIGNIFICANT ROLE IN THE 02:10.830 --> 02:12.432 JASON BLAIR INCIDENT, ALL OF 02:12.432 --> 02:13.333 A SUDDEN THE WHEELS ARE 02:13.333 --> 02:14.734 GOING TO FLY OFF THE CART. 02:14.734 --> 02:15.735 NEVER HAPPENS. 02:15.735 --> 02:17.937 NEWSPAPER IS -- IT'S AN 02:17.937 --> 02:19.439 ORGANIC PROCESS THAT EMERGES 02:19.439 --> 02:20.640 FROM THE SPACE BETWEEN 02:20.640 --> 02:21.341 PEOPLE. 02:21.341 --> 02:24.544 AND THE "NEW YORK TIMES", AS 02:24.544 --> 02:25.945 I LEARNED QUICKLY WHEN I GOT 02:25.945 --> 02:29.282 THERE, IS CERTAINLY -- DOES 02:29.282 --> 02:30.984 NOT DEPEND ON ANY SINGLE 02:30.984 --> 02:34.587 PERSON TO BE WHAT IT IS. 02:34.587 --> 02:36.289 I'VE EXPERIENCE WHERE HAD -- 02:36.289 --> 02:37.791 I'VE BEEN UP AGAINST -- THEY 02:37.791 --> 02:39.993 DON'T GENERALLY HAND ME 02:39.993 --> 02:41.094 DEADLINE MATTERS, BUT A 02:41.094 --> 02:42.395 COUPLE OF TIMES I'VE BEEN IN 02:42.395 --> 02:47.801 TIGHT CORNERS AND REALLY UP 02:47.801 --> 02:49.402 AGAINST IMPOSSIBLE ODDS IN 02:49.402 --> 02:50.603 TERMS OF GETTING THE COPY 02:50.603 --> 02:52.305 AND MAKING SURE IT'S 02:52.305 --> 02:57.811 EFFICACIOUS AND HAVE PEOPLE 02:57.811 --> 02:59.012 COME AND PICK ME UP. 02:59.012 --> 02:59.713 >> THERE ARE ALWAYS NEW 02:59.713 --> 03:00.914 PEOPLE WHO CAN DO THAT SORT 03:00.914 --> 03:01.414 OF THING. 03:01.414 --> 03:02.716 >> I WOULD READ IT IN THE 03:02.716 --> 03:03.817 MORNING AND THINK IT'S HARD 03:03.817 --> 03:04.617 TO BELIEVE THAT I WAS 03:04.617 --> 03:05.218 INVOLVED ACTUALLY. 03:05.218 --> 03:06.319 [LAUGHTER] 03:06.319 --> 03:07.320 >> DON'T YOU THINK THE 03:07.320 --> 03:09.022 REASON THAT WE'VE GOTTEN TO 03:09.022 --> 03:10.523 PAY SUCH CLOSE ATTENTION TO 03:10.523 --> 03:11.725 THINGS LIKE WHAT JUST 03:11.725 --> 03:12.826 HAPPENED AT THE TIMES OR THE 03:12.826 --> 03:13.827 DECISION BY TIME WARNER TO 03:13.827 --> 03:15.528 SPIN OFF THE TIME MAGAZINE 03:15.528 --> 03:16.930 GROUP IS BECAUSE WE'VE BEEN 03:16.930 --> 03:18.631 REELING THESE MANY YEARS, 03:18.631 --> 03:20.433 FIVE YEARS, 10 YEARS, MEDIA 03:20.433 --> 03:21.234 BUSINESS HAS BEEN IN A STATE 03:21.234 --> 03:23.636 OF GREAT FLUX AND WE'RE ALL 03:23.636 --> 03:25.638 CURIOUS TO SEE HOW IT SHAKES 03:25.638 --> 03:26.139 OUT. 03:26.139 --> 03:27.240 WE CAN'T QUITE TELL YOU HOW 03:27.240 --> 03:28.541 IT'S GOING TO HAPPEN. 03:28.541 --> 03:29.342 >> YEAH. 03:29.342 --> 03:30.243 I WOULD BE CAREFUL ABOUT 03:30.243 --> 03:31.544 CONFLATING THOSE TWO THINGS. 03:31.544 --> 03:32.645 YOU HAVE TIME WARNER, WHICH 03:32.645 --> 03:34.748 IS STEVE ROSS TOOK AND BUILT 03:34.748 --> 03:38.451 UP A BEHEMOTH OVER THE TERMS 03:38.451 --> 03:39.753 OF MANY, MANY YEARS AND IT 03:39.753 --> 03:41.755 TURNED INTO THE LARGEST 03:41.755 --> 03:42.756 MEDIA COMPANY IN THE WORLD 03:42.756 --> 03:44.557 AND WE'VE WATCHED IT THROW 03:44.557 --> 03:46.359 OFF PARTS AGAIN AND AGAIN. 03:46.359 --> 03:47.761 THE FACT THAT THE LAST PART 03:47.761 --> 03:52.866 TO GO, TO BE STUNNED, IS THE 03:52.866 --> 03:53.667 GROUP OF MAGAZINES THAT 03:53.667 --> 03:54.567 BEARS ITS NAME. 03:54.567 --> 03:56.169 >> YOU THINK THAT'S 03:56.169 --> 03:56.569 SIGNIFICANT. 03:56.569 --> 03:58.271 >> YEAH, IN MANHATTAN MEDIA. 03:58.271 --> 03:59.973 AND THE ADJUSTMENTS THAT WE 03:59.973 --> 04:03.977 MADE, IF YOU THINK OF JILL 04:03.977 --> 04:05.679 ABRAM SON, WHO I KNOW YOU 04:05.679 --> 04:06.279 KNOW. 04:06.279 --> 04:07.781 >> BEEN ON THE SHOW. 04:07.781 --> 04:09.382 >> SHE'S A NEWSMAN TO HER 04:09.382 --> 04:09.883 CORE. 04:09.883 --> 04:12.185 I THINK SHE'S GOT THE 04:12.185 --> 04:13.186 CONFIDENCE OF THE ROOM 04:13.186 --> 04:14.888 MOSTLY BECAUSE OF THE PAPER 04:14.888 --> 04:15.789 SHE MAKES. 04:15.789 --> 04:17.190 SHE'S BEEN A GREAT REPORTER. 04:17.190 --> 04:19.192 SHE'S BEEN A GOOD EDITOR. 04:19.192 --> 04:21.094 AND IF YOU'RE LOOKING AT 04:21.094 --> 04:22.295 MAKING WHAT I WOULD SEE AS 04:22.295 --> 04:26.299 SOME ADJUSTMENTS ON THE COST 04:26.299 --> 04:27.600 SIDE, I THINK IT'S REALLY 04:27.600 --> 04:29.536 HEALTHY TO BE UP TO THE TOP 04:29.536 --> 04:30.136 AND LOOK AROUND. 04:30.136 --> 04:31.338 THINK OF HOW HEALTHY THE 04:31.338 --> 04:32.038 "NEW YORK TIMES" IS 04:32.038 --> 04:35.041 STRUCTURED, WHICH IS IT'S 04:35.041 --> 04:36.943 THE TOP OF A MOUNTAIN AT THE 04:36.943 --> 04:38.345 TOP OF A MOUNTAIN 04:38.345 --> 04:38.745 PROFESSIONALLY. 04:38.745 --> 04:40.647 SO IT GATHERS ALL THESE 04:40.647 --> 04:41.047 PEOPLE. 04:41.047 --> 04:42.449 AND SO -- THERE'S THIS 04:42.449 --> 04:45.151 TREMENDOUS PRESSURE AND AT A 04:45.151 --> 04:46.353 CERTAIN POINT SOMETHING HAS 04:46.353 --> 04:47.754 GOT TO GIVE SO YOU END UP 04:47.754 --> 04:49.255 WITH A REAL THICK LAYER ON 04:49.255 --> 04:50.757 TOP HERE BECAUSE NO ONE EVER 04:50.757 --> 04:51.958 WANTS TO GO ANYWHERE. 04:51.958 --> 04:55.161 AND SO NOBODY ENDS UP EVER 04:55.161 --> 04:58.865 THROWN OVERBOARD OR URGED TO 04:58.865 --> 04:59.666 MOVE ON. 04:59.666 --> 05:01.768 IF YOU'RE HER AND -- I DON'T 05:01.768 --> 05:02.168 KNOW. 05:02.168 --> 05:03.570 IT'S KIND OF NAUGHTY TO TALK 05:03.570 --> 05:06.272 ABOUT, BUT IT IS OVERHEARD. 05:06.272 --> 05:06.973 >> IT IS. 05:06.973 --> 05:08.375 [LAUGHTER] 05:08.375 --> 05:09.976 AND WHEN YOU SAY GNAWTY I 05:09.976 --> 05:11.678 BECOME ALL EARS AT THAT VERY 05:11.678 --> 05:11.778 MOMENT. 05:11.778 --> 05:13.780 >> BUT LET'S SAY THAT YOU'RE 05:13.780 --> 05:14.881 RUNNING A LARGE ORGANIZATION 05:14.881 --> 05:16.883 OF 1200 PEOPLE AND YOU GET 05:16.883 --> 05:19.786 SIX, SEVEN YEARS TO HANG ON 05:19.786 --> 05:22.088 TO THIS FLAMING BATON AND GO 05:22.088 --> 05:23.189 AS FAR AS YOU WANT. 05:23.189 --> 05:24.691 IF YOU'RE GOING TO MAKE SOME 05:24.691 --> 05:27.293 STRATEGIC COST ADJUSTMENTS, 05:27.293 --> 05:28.995 WHY NOT MAKE THEM AT THE TOP 05:28.995 --> 05:30.830 TO START SO YOU CAN GET YOUR 05:30.830 --> 05:33.533 GUYS IN, IN POSITION, AND 05:33.533 --> 05:36.236 THEN HAVE -- THAT'S YOUR 05:36.236 --> 05:37.037 GAME THAT YOU'RE GOING TO 05:37.037 --> 05:38.538 RIDE WITH FOR AWHILE. 05:38.538 --> 05:40.340 SO IF SHE EVER DOES HAVE TO 05:40.340 --> 05:42.842 COME BACK TO THE ROOM AND 05:42.842 --> 05:44.644 LOOK FOR ANY OTHER CUTS, WE 05:44.644 --> 05:46.646 WON'T BE SAYING TO HER, AS 05:46.646 --> 05:48.548 WE WOULD, WHAT ABOUT ALL 05:48.548 --> 05:50.250 THESE FAT CATS MAKING ALL 05:50.250 --> 05:51.151 THIS MONEY? 05:51.151 --> 05:52.852 ABOUT WHAT ABOUT ALL THESE 05:52.852 --> 05:54.154 BOSSES THAT YOU HAVE RUNNING 05:54.154 --> 05:54.554 AROUND? 05:54.554 --> 05:56.256 I THINK THE OPTICS ARE GOOD 05:56.256 --> 05:57.857 FOR HER. 05:57.857 --> 06:00.060 I'M NOT -- THAT'S JUST MY 06:00.060 --> 06:01.861 OPINION, BUT IF IT WAS MY 06:01.861 --> 06:02.762 STORE TO RUN, I DON'T THINK 06:02.762 --> 06:04.264 I WOULD DO IT MUCH DIFFERENT 06:04.264 --> 06:08.468 THAN SHE DID, EVEN THOUGH 06:08.468 --> 06:09.669 THE FOLKS THAT WE HAD 06:09.669 --> 06:12.272 REALLY, REALLY TALENTED 06:12.272 --> 06:13.073 FOLKS. 06:13.073 --> 06:14.474 >> LET ME TURN THIS AROUND 06:14.474 --> 06:15.875 AND ASK YOU A BROADER 06:15.875 --> 06:17.477 QUESTION, WHICH HAS THE 06:17.477 --> 06:18.978 TIMES BEEN ABLE TO WEATHER 06:18.978 --> 06:20.380 THE CHANGES TO THE MEDIA 06:20.380 --> 06:22.482 BUSINESS BETTER THAN, IN 06:22.482 --> 06:23.483 YOUR OPINION, OTHER 06:23.483 --> 06:25.185 NEWSPAPERS AT ITS LEVEL OR 06:25.185 --> 06:26.586 DOWN THE FOOD CHAIN SOME OF 06:26.586 --> 06:27.887 THE REGIONAL AND STATE 06:27.887 --> 06:30.824 PAPERS, THE BIG ONES. 06:30.824 --> 06:32.125 ARE THE TIMES LESS 06:32.125 --> 06:34.227 VULNERABLE TO THOSE CHANGES? 06:34.227 --> 06:36.129 >> WHAT I SAY IS IT'S LESS 06:36.129 --> 06:36.930 IMPORTANT THAN WHAT OUR 06:36.930 --> 06:37.831 PAPER DOES. 06:37.831 --> 06:41.434 AND SO, YOU KNOW, I GET 06:41.434 --> 06:43.236 HAMBURGERS FOR MY FAMILY BY 06:43.236 --> 06:43.837 WORKING FOR THE "NEW YORK 06:43.837 --> 06:44.337 TIMES". 06:44.337 --> 06:45.438 SO OF COURSE I'M GOING TO 06:45.438 --> 06:48.041 SAY EVERYTHING IS HUNKY-DORY 06:48.041 --> 06:49.142 AND GREAT. 06:49.142 --> 06:51.044 I WOULD POINT TO SOME 06:51.044 --> 06:53.747 SPECIFIC STRUCTURAL ISSUES 06:53.747 --> 06:55.548 AND SORT OF -- YOU KNOW, IF 06:55.548 --> 06:56.950 YOU LOOK BACK A COUPLE OF 06:56.950 --> 06:59.853 YEARS AGO, WE OWED 06:59.853 --> 07:02.155 $250 MILLION TO A MEXICAN 07:02.155 --> 07:03.456 BILLIONAIRE. 07:03.456 --> 07:05.358 PROBABLY NOT A GREAT GUY TO 07:05.358 --> 07:07.360 OWE MONEY TOO. 07:07.360 --> 07:08.561 JUST IN TERMS OF YOUR 07:08.561 --> 07:10.363 CAPITAL STRUCTURE AND STUFF. 07:10.363 --> 07:13.667 WE WERE -- SO HE LENT US 07:13.667 --> 07:15.869 THAT MONEY, GREAT GUY, THANK 07:15.869 --> 07:23.076 YOU, AT USURIOUS RATES AND 07:23.076 --> 07:24.778 WE PAID THAT LOAN OFF EARLY. 07:24.778 --> 07:25.879 WE HAVE LIKE EVERYONE ELSE 07:25.879 --> 07:27.580 FACED SIGNIFICANT SECULAR, 07:27.580 --> 07:29.115 MEANING BROAD INDUSTRIAL 07:29.115 --> 07:30.917 CHANGES AND CYCLICAL MEANING 07:30.917 --> 07:31.818 WHATEVER IS GOING ON WITH 07:31.818 --> 07:33.720 THE ECONOMY. 07:33.720 --> 07:35.221 HEAD WINDS IN TERMS OF 07:35.221 --> 07:40.627 ADVERTISING AND LARGE PRINT 07:40.627 --> 07:41.528 ENTERPRISES GENERALLY 07:41.528 --> 07:43.229 MANEUVER BY PUSHING TWO 07:43.229 --> 07:43.930 PEDALS. 07:43.930 --> 07:47.434 ONE IS THE AD SIDE, THE 07:47.434 --> 07:48.134 BUSINESS SIDE. 07:48.134 --> 07:49.135 AND THE OTHER SIDE IS THE 07:49.135 --> 07:50.036 CONSUMER SIDE, THE 07:50.036 --> 07:51.338 CIRCULATION SIDE. 07:51.338 --> 07:53.039 WE DECIDED TWO YEARS AGO 07:53.039 --> 07:56.242 THIS WEEK TO TURN TOWARD THE 07:56.242 --> 07:58.745 CONSUMERS AND SAY HOW'S 07:58.745 --> 08:00.547 ABOUT SHOWING US SOME SUGAR? 08:00.547 --> 08:01.848 HOW'S ABOUT YOU GET INVOLVED 08:01.848 --> 08:03.650 HERE A LITTLE BIT? 08:03.650 --> 08:06.353 WE HAVE 40 MILLION UNIQUES 08:06.353 --> 08:08.154 ON THE WEB AND MANY PEOPLE 08:08.154 --> 08:12.959 SAID WE WOULD DISAPPEAR FROM 08:12.959 --> 08:14.561 THE ECOSYSTEM. 08:14.561 --> 08:16.062 THAT THE FACT THAT THE WALL 08:16.062 --> 08:18.064 WAS LEAKY WOULD MAKE US A 08:18.064 --> 08:20.367 LAUGHING STOCK. 08:20.367 --> 08:22.769 NOW WE HAVE OVER 240,000 08:22.769 --> 08:23.670 DIGITAL CONSUMERS AND 08:23.670 --> 08:25.171 HUNDREDS OF MILLIONS OF 08:25.171 --> 08:26.072 DOLLARS IN REVENUE AND FOR 08:26.072 --> 08:27.574 THE FIRST TIME IN OUR 08:27.574 --> 08:29.009 HISTORY NOW CIRCULATION 08:29.009 --> 08:29.909 REVENUES OUT RANK 08:29.909 --> 08:30.910 ADVERTISING REVENUES, WHICH 08:30.910 --> 08:32.612 IS A VERY SIGNAL MOMENT. 08:32.612 --> 08:34.114 >> GETTING THE LAST LAUGH. 08:34.114 --> 08:35.415 I KNOW THEY'VE TIGHTENED UP 08:35.415 --> 08:37.617 THE POROUSNESS OR CLOSED UP 08:37.617 --> 08:39.019 SOME OF THE POROUSNESS OF 08:39.019 --> 08:40.820 THE PAY WALL WITHIN THE LAST 08:40.820 --> 08:42.422 FEW MONTHS, BUT BY AND LARGE 08:42.422 --> 08:43.523 WHAT THEY PUT INTO EFFECT 08:43.523 --> 08:44.324 HAS WORKED. 08:44.324 --> 08:47.727 >> I THINK PEOPLE HAVE BEEN 08:47.727 --> 08:49.029 REALLY SURPRISED BY THE 08:49.029 --> 08:53.133 LEVEL OF HOW WELL IT'S 08:53.133 --> 08:53.633 WORKED. 08:53.633 --> 08:55.335 AND IT'S BEEN GREAT FOR ME 08:55.335 --> 08:58.138 PERSONALLY BECAUSE WHEN I 08:58.138 --> 08:59.839 WAS AT SOUTH BY SOUTHWEST 08:59.839 --> 09:01.441 TWO YEARS AGO ON THIS DATE, 09:01.441 --> 09:06.046 IT WAS ALL THE THEOLOGIANS 09:06.046 --> 09:07.447 RANTING AND THE RELIGIOUS 09:07.447 --> 09:10.150 BELIEF AND THE SPIRITUAL 09:10.150 --> 09:11.551 POWER OF FREE AND FOR ME 09:11.551 --> 09:13.253 IT'S BEEN JUST A JOY TO 09:13.253 --> 09:14.654 WATCH THAT THEY WERE WRONG 09:14.654 --> 09:16.656 AND WE WERE RIGHT. 09:16.656 --> 09:19.059 [LAUGHTER] AND THAT THAT 09:19.059 --> 09:22.062 MAGIC BUNCH OF FREE READERS 09:22.062 --> 09:23.063 THAT'S NOT GOING TO PAY 09:23.063 --> 09:25.465 ANYTHING, THAT WILL NOT DRAW 09:25.465 --> 09:26.366 MUCH IN TERMS OF 09:26.366 --> 09:27.667 ADVERTISING, IS SOMEHOW 09:27.667 --> 09:28.768 GOING TO TAKE TO YOU SOME 09:28.768 --> 09:30.403 SAFE AND HAPPY PROMISED 09:30.403 --> 09:30.904 LAND. 09:30.904 --> 09:32.305 DIDN'T HAPPEN. 09:32.305 --> 09:35.308 PART OF -- TO YOUR QUESTION, 09:35.308 --> 09:36.810 I SHOULD ACTUALLY ANSWER IT. 09:36.810 --> 09:37.711 I SEE THE NEWSPAPER BUSINESS 09:37.711 --> 09:38.812 IN TWO SEGMENTS. 09:38.812 --> 09:41.114 LARGE NATIONAL BRANDS, WALL 09:41.114 --> 09:42.215 STREET JOURNAL, "NEW YORK 09:42.215 --> 09:45.618 TIMES", FT GUARDIAN, 09:45.618 --> 09:47.620 INTERNATIONAL BRANDS, DOING 09:47.620 --> 09:48.822 PRETTY WELL BECAUSE IF 09:48.822 --> 09:50.323 YOU'RE AN ENGLISH LANGUAGE 09:50.323 --> 09:51.725 PAPER, THE SECOND AND THIRD 09:51.725 --> 09:53.426 WORLD, IN ADDITION TO THE 09:53.426 --> 09:55.028 FIRST WORLD, IS HATCHING 09:55.028 --> 09:55.628 CUSTOMERS FOR YOU 09:55.628 --> 09:56.529 EVERYWHERE. 09:56.529 --> 09:58.331 AND BECAUSE YOU DON'T NEED A 09:58.331 --> 09:59.733 TRUCK OR A PRINTING PRESS TO 09:59.733 --> 10:02.736 GET WITH THEM, YOU CAN START 10:02.736 --> 10:04.437 ACCESSING THOSE PEOPLE. 10:04.437 --> 10:05.338 THE OTHER PART OF THE 10:05.338 --> 10:07.140 BUSINESS DOING VERY WELL IS 10:07.140 --> 10:09.542 IF YOU'RE THE KIND OF PAPER 10:09.542 --> 10:10.944 WHERE PEOPLE WILL TEAR OUT A 10:10.944 --> 10:12.846 PICTURE OF YOUR KID PLAYING 10:12.846 --> 10:14.247 THIRD BASE FOR THE LOCAL 10:14.247 --> 10:15.648 LITTLE LEAGUE TEAM AND 10:15.648 --> 10:16.249 PUTTING IT ON THE 10:16.249 --> 10:18.351 REFRIGERATOR, THE WEBSITE'S 10:18.351 --> 10:19.352 NEVER GOING TO DO THAT FOR 10:19.352 --> 10:21.755 YOU. 10:21.755 --> 10:23.556 THE PHRASE I SAW YOUR KID IN 10:23.556 --> 10:24.557 THE PAPER, THAT'S REALLY 10:24.557 --> 10:25.258 MEANINGFUL. 10:25.258 --> 10:28.461 AND THE COMMUNITY PAPERS 10:28.461 --> 10:29.996 THAT HAVE A VERY CLOSE 10:29.996 --> 10:31.898 RELATIONSHIP WITH THEIR 10:31.898 --> 10:35.001 CUSTOMER AGREE IT'S A VAST 10:35.001 --> 10:35.402 MIDDLE. 10:35.402 --> 10:36.803 >> IT IS A VAST MIDDLE. 10:36.803 --> 10:38.204 >> IT'S WHERE AMERICA STORES 10:38.204 --> 10:40.006 ITS REPORTING HORSE POWERS. 10:40.006 --> 10:42.208 >> WAS ANY OF THIS 10:42.208 --> 10:43.410 PREVENTABLE, DAVID? 10:43.410 --> 10:44.210 YOU'VE BEEN WRITING ABOUT IT 10:44.210 --> 10:45.111 FOR A LONG TIME. 10:45.111 --> 10:46.212 YOU'VE LOOKED AT IT FROM 10:46.212 --> 10:47.213 ALMOST EVERY ANGLE. 10:47.213 --> 10:48.815 AND YOU PROBABLY FORMULATED 10:48.815 --> 10:49.916 AN OPINION ABOUT WHETHER 10:49.916 --> 10:50.817 SOME OF THE THINGS THAT GOT 10:50.817 --> 10:52.018 SOME OF THE PAPERS IN THE 10:52.018 --> 10:53.620 VAST MIDDLE INTO TROUBLE 10:53.620 --> 10:54.921 OVER THESE YEARS WERE BEYOND 10:54.921 --> 10:56.222 THEIR CONTROL OR WHETHER IN 10:56.222 --> 10:58.224 HINDSIGHT THEY COULD HAVE 10:58.224 --> 10:59.426 PREVENTED THEM. 10:59.426 --> 11:00.126 WHAT DO YOU THINK? 11:00.126 --> 11:02.529 >> IN RETROSPECT NOTHING 11:02.529 --> 11:03.730 CHANGED, NOTHING CHANGED, 11:03.730 --> 11:05.632 NOTHING CHANGED. 11:05.632 --> 11:07.534 BOOM, EVERYTHING CHANGED. 11:07.534 --> 11:09.035 AND THE LAST FIVE YEARS THE 11:09.035 --> 11:10.837 NEWSPAPER BUSINESS HAS 11:10.837 --> 11:13.740 SHRUNK BY HALF. 11:13.740 --> 11:14.441 WE'VE LOST A LOT OF 11:14.441 --> 11:15.942 REPORTERS, A LOT OF DAILIES. 11:15.942 --> 11:22.349 AND WHEN NEWSPAPERS IN MID 11:22.349 --> 11:23.550 SIZE MARKETS HAD THOSE 11:23.550 --> 11:25.051 MONOPOLIES AND WERE LOOKING 11:25.051 --> 11:27.053 FOR PLACES TO STOP ALL THE 11:27.053 --> 11:29.689 MONEY THAT THEY WERE MAKING, 11:29.689 --> 11:30.590 ONE OF THE THINGS THEY 11:30.590 --> 11:31.391 PROBABLY SHOULD HAVE BEEN 11:31.391 --> 11:34.094 DOING IS PUTTING MONEY INTO 11:34.094 --> 11:35.695 TRANSFORMATION. 11:35.695 --> 11:37.697 AND IT'S HARD WHEN YOU'RE -- 11:37.697 --> 11:39.099 WHEN YOU'RE GOING IN REVERSE 11:39.099 --> 11:42.902 TO CHANGE THE WHEELS ON THE 11:42.902 --> 11:43.503 CAR. 11:43.503 --> 11:46.506 SO THERE WERE PEOPLE THAT 11:46.506 --> 11:48.808 WERE SORT OF FORWARD 11:48.808 --> 11:51.311 THINKING, BUT IT DIDN'T WORK 11:51.311 --> 11:52.212 OUT FOR THEM. 11:52.212 --> 11:53.013 THINK OF THE AMOUNT OF 11:53.013 --> 11:54.014 INVESTMENT AND TIME THAT THE 11:54.014 --> 11:55.515 WASHINGTON POST PUT IN THE 11:55.515 --> 11:57.017 DIGITAL MATTERS. 11:57.017 --> 11:59.019 AND HERE WE ARE LO THESE 11:59.019 --> 12:00.320 MANY YEARS LATER AND I THINK 12:00.320 --> 12:04.624 WE COULD AGREE THAT THEY 12:04.624 --> 12:06.826 HAVEN'T REALLY ACCOMPLISHED 12:06.826 --> 12:07.327 THAT MUCH. 12:07.327 --> 12:10.230 >> NOT MUCH FARTHER AHEAD. 12:10.230 --> 12:11.031 WHAT WAS THE BOOM? 12:11.031 --> 12:12.732 YOU SAID NOTHING, NOTHING, 12:12.732 --> 12:13.733 NOTHING, BOOM. 12:13.733 --> 12:14.834 WHAT WAS THE BOOM? 12:14.834 --> 12:15.435 DEFINE THE BOOM. 12:15.435 --> 12:18.538 WHAT WAS THE PRECIPITATING 12:18.538 --> 12:19.239 EVENT? 12:19.239 --> 12:20.540 >> NEWSPAPERS MAKE THEIR -- 12:20.540 --> 12:23.943 WE MAKE OUR LIVING OFF OF -- 12:23.943 --> 12:26.646 SORT OF A NEWSPAPER STORY IS 12:26.646 --> 12:27.447 WE'RE ON THE UNIVERSITY OF 12:27.447 --> 12:30.183 TEXAS CAMPUS RIGHT NOW. 12:30.183 --> 12:31.584 THOSE KIDS DON'T CARE ABOUT 12:31.584 --> 12:34.387 NEWSPAPERS OTHER THAN THEIR 12:34.387 --> 12:36.089 COLLEGE PAPER, WHICH IS AN 12:36.089 --> 12:38.291 AMAZING ONE, GREAT ONE. 12:38.291 --> 12:39.592 BUT THEY DON'T CARE ABOUT 12:39.592 --> 12:40.293 OUR BUSINESS. 12:40.293 --> 12:43.196 AND WE DON'T GENERALLY CATER 12:43.196 --> 12:48.301 TO THEM IN THE OLDEN DAYS, 12:48.301 --> 12:53.907 WHICH WEREN'T THAT LONG AGO. 12:53.907 --> 12:54.808 WHAT WOULD HAPPEN IS THEY 12:54.808 --> 12:55.608 WOULD LEAVE COLLEGE, THEY 12:55.608 --> 12:56.910 WOULD GET JOBS, THEY WOULD 12:56.910 --> 12:58.712 REPRODUCE, THEY WOULD GO TO 12:58.712 --> 12:59.713 IKEA. 12:59.713 --> 13:01.414 THEY WOULD HAVE TO -- THEY 13:01.414 --> 13:02.315 WOULD HAVE TO FIGURE OUT 13:02.315 --> 13:03.717 WHERE TO SEND JOHNNIE TO 13:03.717 --> 13:04.718 SCHOOL. 13:04.718 --> 13:05.919 THEN WE WOULD GRAB 'EM 13:05.919 --> 13:06.720 BECAUSE THEY WOULD HAVE 13:06.720 --> 13:07.821 INFORMATIONAL NEEDS, THEY 13:07.821 --> 13:10.023 WOULD HAVE MARKETING NEEDS. 13:10.023 --> 13:11.224 NOW THEY GRADUATE, DO THEY 13:11.224 --> 13:12.826 GET A JOB? 13:12.826 --> 13:14.027 DO THEY GET MARRIED? 13:14.027 --> 13:15.428 DO THEY HAVE A NEED FOR -- 13:15.428 --> 13:16.730 THERE'S PROBABLY A BLOG 13:16.730 --> 13:19.432 ABOUT THE SCHOOL THAT THEIR 13:19.432 --> 13:20.433 KID'S GOING TO GO TO AND 13:20.433 --> 13:21.935 THEY PROBABLY ALREADY HAVE A 13:21.935 --> 13:23.136 DIRECT MARKETING 13:23.136 --> 13:23.636 RELATIONSHIP. 13:23.636 --> 13:25.538 IKEA PROBABLY NODES WHAT 13:25.538 --> 13:26.740 THEIR ZIP CODE IS AND HOW 13:26.740 --> 13:28.241 THEY LIKE THEIR COFFEE 13:28.241 --> 13:28.842 TABLES. 13:28.842 --> 13:30.243 >> IKEA HAS CUT YOU OUT OF 13:30.243 --> 13:31.745 THE SITUATION BY GOING 13:31.745 --> 13:32.746 DIRECTLY TO THE CUSTOMER. 13:32.746 --> 13:34.147 >> EVERY TIME I SEE A 13:34.147 --> 13:36.549 SWEDISH PERSON I WANT TO 13:36.549 --> 13:37.751 CHOKE 'EM [LAUGHTER] 13:37.751 --> 13:39.352 >> VERY UPLIFTING THOUGHT. 13:39.352 --> 13:40.653 YOU SPOKE AT IOWA STATE 13:40.653 --> 13:41.354 UNIVERSITY IN THE LAST 13:41.354 --> 13:42.055 COUPLE OF WEEKS. 13:42.055 --> 13:43.056 >> YES, I DO. 13:43.056 --> 13:44.157 >> YOU TALKED ABOUT THE 13:44.157 --> 13:49.262 EXISTENTIAL SORT OF CRISES 13:49.262 --> 13:50.864 THAT KIDS COMING OUT OF 13:50.864 --> 13:51.965 SCHOOL FACE. 13:51.965 --> 13:53.266 THEY GO OUT OF A WORLD 13:53.266 --> 13:55.168 THAT'S VASTLY DIFFERENT FOR 13:55.168 --> 13:56.169 THEIR GENERATION, LET ALONE 13:56.169 --> 14:00.373 OUR GENERATION ENCOUNTERED. 14:00.373 --> 14:01.574 IT'S DIFFERENT FROM EVERY 14:01.574 --> 14:02.375 ANGLE. 14:02.375 --> 14:03.276 HOWEVER YOU LOOK AT IT THE 14:03.276 --> 14:04.077 WORLD HAS CHANGED. 14:04.077 --> 14:06.479 >> I ENVY THEM. 14:06.479 --> 14:07.480 >> YOU DO? 14:07.480 --> 14:08.381 TELL ME WHY. 14:08.381 --> 14:09.783 >> MY DAUGHTER IS IN OUR 14:09.783 --> 14:10.583 BUSINESS AND SHE WORKS FOR 14:10.583 --> 14:12.185 AN OUTFIT CALLED VICE, WHICH 14:12.185 --> 14:15.488 IS A BROOKLYN BASED 14:15.488 --> 14:16.489 MULTIMEDIA COMPANY. 14:16.489 --> 14:17.991 AND SHE MADE THIS VIDEO 14:17.991 --> 14:19.793 ABOUT THESE LITTLE 14:19.793 --> 14:21.294 MICROORGANISMS THAT ARE 14:21.294 --> 14:24.698 CALLED TARTAGRADES AND THEY 14:24.698 --> 14:26.099 CAN SURVIVE IN OUTER SPACE 14:26.099 --> 14:27.000 BECAUSE THEY CAN PULL 14:27.000 --> 14:29.135 THEMSELVES INTO A BALL AND 14:29.135 --> 14:31.037 SURVIVE IN EXTREMES OF 14:31.037 --> 14:31.938 TEMPERATURE AND PRESSURE. 14:31.938 --> 14:32.939 AND SHE FOUND THIS REALLY 14:32.939 --> 14:37.243 POETIC, BEAUTIFUL, NATURAL. 14:37.243 --> 14:38.445 IT WAS AN AMAZING STORY 14:38.445 --> 14:39.045 TELLER. 14:39.045 --> 14:41.047 AND SHE SENT ME THE VIDEO 14:41.047 --> 14:42.849 AND, YOU KNOW, I DID WHAT 14:42.849 --> 14:45.452 ALL DADS DO, WHICH IS HONEY, 14:45.452 --> 14:47.354 THAT'S ADORABLE. 14:47.354 --> 14:48.455 YOU'RE JUST THE BEST. 14:48.455 --> 14:49.255 I'M SO PROUD OF YOU. 14:49.255 --> 14:51.157 YOU MADE THIS GREAT VIDEO. 14:51.157 --> 14:52.759 AND SHE PUT IT UP THE NEXT 14:52.759 --> 14:55.862 DAY AND SAID I GOT 14:55.862 --> 14:57.664 10 MILLION HITS ON YOUTUBE. 14:57.664 --> 14:59.966 AND IT'S JUST LIKE, THINGS 14:59.966 --> 15:00.867 ARE REALLY DIFFERENCE. 15:00.867 --> 15:01.868 >> THIS IS A LITTLE 15:01.868 --> 15:05.071 DIFFERENT. 15:05.071 --> 15:05.772 [LAUGHTER]. 15:05.772 --> 15:06.373 >> THE AUDIENCE IS 15:06.373 --> 15:06.973 UNLIMITED. 15:06.973 --> 15:09.976 >> SO I THINK IN THAT 15:09.976 --> 15:12.379 FRICTION FREE ATMOSPHERE 15:12.379 --> 15:13.279 WHERE YOU ARE IN THE 15:13.279 --> 15:14.080 EXCELLENCE OF YOUR CONTACT 15:14.080 --> 15:17.283 ACHIEVE A BOUNDLESS SORT OF 15:17.283 --> 15:18.485 RELATIONSHIP WITH YOUR 15:18.485 --> 15:20.086 AUDIENCE -- PLUS THINK OF 15:20.086 --> 15:22.288 WHAT'S JUST EVEN IN MY 15:22.288 --> 15:23.790 BACKPACK RIGHT NOW IN TERMS 15:23.790 --> 15:26.493 OF REPORTING FIREPOWER. 15:26.493 --> 15:28.194 IF I WAS GOING TO DO A STORY 15:28.194 --> 15:29.729 ABOUT YOU, I HAVE ALL KNOWN 15:29.729 --> 15:31.331 THOUGHT ABOUT YOU ONE CLICK 15:31.331 --> 15:31.531 AWAY. 15:31.531 --> 15:33.733 AND IF YOU SAID SOMETHING 15:33.733 --> 15:34.934 INCONSISTENT, EVEN THOUGH 15:34.934 --> 15:37.237 YOU NEVER DO, EVAN -- 15:37.237 --> 15:38.338 >> WHY WOULD I DO THAT? 15:38.338 --> 15:39.739 >> OF COURSE NOT. 15:39.739 --> 15:40.940 I WOULD BE ABLE TO CALL YOU 15:40.940 --> 15:43.043 OUT ON THE SPOT. 15:43.043 --> 15:44.544 IF I GOT DONE INTERVIEWING 15:44.544 --> 15:46.646 YOU AND DID A PIECE -- I 15:46.646 --> 15:47.847 JUST DID A PIECE ON ONE OF 15:47.847 --> 15:49.849 THE GUYS THAT MADE SOUTH 15:49.849 --> 15:51.151 PARK, MATT STONE. 15:51.151 --> 15:53.353 I GOT DONE TALKING TO THEM 15:53.353 --> 15:54.754 AND SAID DO YOU MIND MAKING 15:54.754 --> 15:55.455 A LITTLE VIDEO. 15:55.455 --> 15:56.856 WE MADE A LITTLE iPHONE 15:56.856 --> 15:59.359 VIDEO THAT WENT UP. 15:59.359 --> 16:04.364 THINK OF SOURCING. 16:04.364 --> 16:06.566 WHEN I FIRST CAME IN TO THE 16:06.566 --> 16:12.672 ROOM, IF YOU HAD A PHONE 16:12.672 --> 16:13.973 NUMBER THEY COULD PICK IT 16:13.973 --> 16:14.474 UP. 16:14.474 --> 16:16.176 YOU COULD DOORSTEP THEM, 16:16.176 --> 16:19.679 JUMP OUT OF THE BUSHES, I'M 16:19.679 --> 16:20.380 HERE! 16:20.380 --> 16:21.781 BUT THINK OF NOW YOU CAN 16:21.781 --> 16:23.483 FIGURE OUT THE NOMENCLATURE 16:23.483 --> 16:27.587 OF THEIR EMAIL. 16:27.587 --> 16:29.923 YOU CAN FIND THEM ON LINKED 16:29.923 --> 16:30.223 IN. 16:30.223 --> 16:30.924 YOU'RE EVERYWHERE. 16:30.924 --> 16:32.525 YOU'RE LIKE JASON IN A 16:32.525 --> 16:33.126 HOCKEY MASK. 16:33.126 --> 16:34.828 YOU JUST KEEP POPPING UP AND 16:34.828 --> 16:35.228 POPPING UP. 16:35.228 --> 16:36.529 >> AND THE LAYER THAT USED 16:36.529 --> 16:37.330 TO PROTECT THEM HAVE REALLY 16:37.330 --> 16:39.532 BEEN OBLITERATED BY OUR 16:39.532 --> 16:40.633 INSTANT ACCESS TO THEM 16:40.633 --> 16:41.735 THROUGH MANY OF THE FORMS 16:41.735 --> 16:42.635 AND TECHNOLOGY YOU'RE 16:42.635 --> 16:43.236 TALKING ABOUT. 16:43.236 --> 16:44.938 >> AND YOU DEVELOP A MUCH 16:44.938 --> 16:47.640 MORE INTIMATE RELATIONSHIP. 16:47.640 --> 16:49.042 IF YOU'RE TRYING TO GET TO 16:49.042 --> 16:52.145 SOMEBODY YOU MIGHT CC THE 16:52.145 --> 16:53.747 FLACK, THE PR PERSON -- 16:53.747 --> 16:54.647 >> JUST TO GO THROUGH THE 16:54.647 --> 16:55.148 FRONT DOOR. 16:55.148 --> 16:56.850 >> BUT YOU'RE REALLY TALKING 16:56.850 --> 16:57.851 TO THE WOMAN OR THE MAN YOU 16:57.851 --> 16:59.352 WANT TO TALK TO. 16:59.352 --> 17:00.053 >> DIRECTLY. 17:00.053 --> 17:01.254 SO CRAFT HAS CHANGED IN MANY 17:01.254 --> 17:02.155 OF THE WAYS YOU'RE TALKING 17:02.155 --> 17:02.455 ABOUT. 17:02.455 --> 17:03.757 I WANT TO ASK YOU ABOUT TWO 17:03.757 --> 17:04.657 OTHER WAYS THAT I THINK OUR 17:04.657 --> 17:06.159 WORLD HAS CHANGED AS IT 17:06.159 --> 17:07.060 RELATES TO THE STATE OF THE 17:07.060 --> 17:07.560 NEWSPAPER. 17:07.560 --> 17:08.862 ONE IS THAT TWITTER IN 17:08.862 --> 17:09.963 PARTICULAR, BUT SOCIAL MEDIA 17:09.963 --> 17:11.264 GENERALLY HAVE CREATED AN 17:11.264 --> 17:12.565 ENTIRELY DIFFERENT CHANNEL 17:12.565 --> 17:13.767 FOR THE CONVERSATION ABOUT 17:13.767 --> 17:14.768 WHAT'S GOING ON IN THE WORLD 17:14.768 --> 17:15.468 TO TAKE PLACE. 17:15.468 --> 17:17.270 PART OF IT IS A REFERRAL 17:17.270 --> 17:19.072 CHANNEL, BUT PART OF IT IS A 17:19.072 --> 17:22.876 REPORTING CHANNEL REALLY. 17:22.876 --> 17:26.079 I KNOW YOU'RE A BIG TWITTER 17:26.079 --> 17:29.215 AFICIONADO. 17:29.215 --> 17:29.916 TWITTER IS LIKE THE 17:29.916 --> 17:32.519 ASSOCIATED PRESS WIRE OF THE 17:32.519 --> 17:34.721 CURRENT GENERATION, THE 17:34.721 --> 17:36.423 CURRENT MEDIA CONSUMER 17:36.423 --> 17:37.524 GENERATION BECAUSE WE FIND 17:37.524 --> 17:39.325 OUT SO MUCH ON SOCIAL MEDIA 17:39.325 --> 17:40.727 AND IT MIGHT CAUSE US TO GO 17:40.727 --> 17:42.328 BACK TO NEWS SITES LIKE THE 17:42.328 --> 17:43.229 "NEW YORK TIMES" OR WHATEVER 17:43.229 --> 17:44.931 ELSE, BUT WE LEARN STUFF NOW 17:44.931 --> 17:45.932 THROUGH A TOTALLY DIFFERENT 17:45.932 --> 17:47.033 CHANNEL THAT DIDN'T EXIST 17:47.033 --> 17:48.234 JUST A SHORT TIME AGO. 17:48.234 --> 17:49.336 THAT SEEMS SIGNIFICANT. 17:49.336 --> 17:50.637 >> IT'S REALLY SIGNIFICANT. 17:50.637 --> 17:55.041 I MEAN, I -- I'M ALWAYS 17:55.041 --> 17:57.243 CAREFUL NOT TO OVEREMPHASIZE 17:57.243 --> 17:58.144 ITS SIGNIFICANCE BECAUSE 17:58.144 --> 18:00.046 TWITTER IS KIND OF LIKE A 18:00.046 --> 18:03.550 COASTAL SORT OF HOT HOUSE. 18:03.550 --> 18:05.852 THOSE OF US IN THE MEDIA 18:05.852 --> 18:07.454 LOVE THE TWITTER BECAUSE IT 18:07.454 --> 18:08.855 HAS THIS DENSITY OF 18:08.855 --> 18:11.358 INFORMATION BECAUSE PEOPLE 18:11.358 --> 18:12.759 ARE ON IT AGAIN AND AGAIN. 18:12.759 --> 18:14.561 BUT AS SOMEBODY IN THE 18:14.561 --> 18:15.462 BUSINESS, THE ABILITY TO 18:15.462 --> 18:16.363 KEEP AN EYE ON MY 18:16.363 --> 18:18.665 COMPETITORS, TO STAY IN 18:18.665 --> 18:20.166 NARRATIVE WITH PEOPLE, I 18:20.166 --> 18:21.368 RESPECT OVER AND OVER. 18:21.368 --> 18:23.269 THINK OF WHEN RSS FIRST CAME 18:23.269 --> 18:26.172 IN AND OH, HERE IT IS, THE 18:26.172 --> 18:27.874 10 STORIES I WANT TO BE 18:27.874 --> 18:28.475 TRACKING. 18:28.475 --> 18:31.611 NOW THINK OF THAT RSS AS 18:31.611 --> 18:34.214 REALTIME ALWAYS ON, CURE 18:34.214 --> 18:35.415 RATED BY PEOPLE LIKE YOU OR 18:35.415 --> 18:36.216 PEOPLE LIKE ME. 18:36.216 --> 18:43.123 AND PEOPLE -- PEOPLE 18:43.123 --> 18:44.024 UNFAMILIAR WITH TWITTER 18:44.024 --> 18:46.026 DON'T REALIZE THAT THE 18:46.026 --> 18:47.427 LENGTHS THAT IT CARRIES, 18:47.427 --> 18:48.828 YEAH, YOU CAN PUT A LOT OF 18:48.828 --> 18:49.929 INFORMATION ON 140 18:49.929 --> 18:51.931 INFORMATION, BUT YOU CAN 18:51.931 --> 18:54.434 POINT TOWARD VERY IMPORTANT 18:54.434 --> 18:55.135 THINGS. 18:55.135 --> 18:59.839 AND IF I FOLLOW PEOPLE I 18:59.839 --> 19:00.840 FEEL LIKE I'M IN REALTIME 19:00.840 --> 19:02.842 NARRATIVE AT THAT ABSOLUTE 19:02.842 --> 19:03.443 MOMENT. 19:03.443 --> 19:08.548 IT'S NOT PERFECT. 19:08.548 --> 19:10.250 I STILL GET THE DAILY PAPER 19:10.250 --> 19:11.551 AND IT'S PARTLY BECAUSE ALL 19:11.551 --> 19:13.853 DAY LONG STUFF IS WHIZZING 19:13.853 --> 19:14.854 BY AND IT'S GREAT. 19:14.854 --> 19:16.356 I CAN CATCH UP ON THE NEWS 19:16.356 --> 19:18.058 AT STARBUCKS AND WHAT'S 19:18.058 --> 19:19.359 BOUNCING AT THAT INSTANCE. 19:19.359 --> 19:20.960 THE NEXT DAY I ALWAYS GO, 19:20.960 --> 19:21.861 WHAT WAS THAT? 19:21.861 --> 19:22.562 >> WHAT HAPPENED? 19:22.562 --> 19:23.563 >> WHAT HAPPENED? 19:23.563 --> 19:28.768 AND SO WITH THE TIMES OR THE 19:28.768 --> 19:34.407 WALL STREET JOURNAL, THEY'RE 19:34.407 --> 19:36.109 DECIDING ON THE HIERARCHY OF 19:36.109 --> 19:37.610 THESE ARE THE SIX OR SEVEN 19:37.610 --> 19:39.412 MOST IMPORTANT STORIES. 19:39.412 --> 19:40.814 >> WE SAY ARE THE MOST 19:40.814 --> 19:41.214 IMPORTANT. 19:41.214 --> 19:42.415 >> ARE THEY? PROBABLY NOT. 19:42.415 --> 19:44.918 BUT I'M WILLING TO SAY OKAY? 19:44.918 --> 19:46.720 YOU GUYS HAVE DECIDED WHAT'S 19:46.720 --> 19:47.821 IMPORTANT. 19:47.821 --> 19:51.725 AND IN THAT SENSE I THINK 19:51.725 --> 19:52.625 WHEN YOU COME FROM MAGAZINES 19:52.625 --> 19:53.626 YOU KNOW WHAT YOU'RE DOING 19:53.626 --> 19:55.128 IS GIVING PEOPLE, PUTTING A 19:55.128 --> 19:58.431 FRAME AROUND EVENTS THAT 19:58.431 --> 19:59.833 ADDS MEANING TO IT. 19:59.833 --> 20:03.236 AND I DO THINK THAT DAILY 20:03.236 --> 20:04.838 PAPER HAS MOVED MORE AND 20:04.838 --> 20:07.040 MORE ADD ITS BEST TOWARD 20:07.040 --> 20:08.742 HELPING YOU MAKE SENSE OF 20:08.742 --> 20:12.846 THIS CONSTANT ALWAYS ON. 20:12.846 --> 20:14.147 WHEN I FIRST GOT TO THE "NEW 20:14.147 --> 20:15.648 YORK TIMES" I WOULD WATCH 20:15.648 --> 20:17.350 THEM CHOOSE THOSE SIX OR 20:17.350 --> 20:18.051 SEVEN STORIES. 20:18.051 --> 20:19.652 I WOULD GO TO THE PAGE ONE 20:19.652 --> 20:20.053 MEETING. 20:20.053 --> 20:21.554 AGAIN, NOT CONSULTED, JUST 20:21.554 --> 20:23.256 SITTING THERE. 20:23.256 --> 20:24.758 POTTED PLANT BASICALLY. 20:24.758 --> 20:26.059 [LAUGHTER] 20:26.059 --> 20:27.861 AND I WOULD WATCH THE 20:27.861 --> 20:29.996 STORIES SORT OF PIVOT AND 20:29.996 --> 20:30.897 CHANGE AROUND THEM. 20:30.897 --> 20:31.598 I WOULD SAY THIS IS 20:31.598 --> 20:32.999 LUDICROUS THAT THEY'RE 20:32.999 --> 20:35.001 TALKING ABOUT THESE AS IF 20:35.001 --> 20:36.202 THEY'RE STATIC. 20:36.202 --> 20:37.604 I'VE COME AROUND ON THAT. 20:37.604 --> 20:38.805 I STILL GET THE JOURNAL AT 20:38.805 --> 20:39.005 HOME. 20:39.005 --> 20:40.807 I STILL GET -- 20:40.807 --> 20:41.708 >> THE COMBINATION OF THE 20:41.708 --> 20:43.109 TRADITIONAL PAPER AND THE 20:43.109 --> 20:44.110 CONSTANTLY INFLUX OF 20:44.110 --> 20:45.211 REALTIME STUFF IS NOT A 20:45.211 --> 20:46.813 BINARY CHOICE, IT'S 20:46.813 --> 20:48.915 ADDITIVE, A AND B IN TERMS 20:48.915 --> 20:50.216 OF YOU UNDERSTANDING WHAT'S 20:50.216 --> 20:50.617 OUT THERE. 20:50.617 --> 20:51.017 >> YEAH. 20:51.017 --> 20:51.818 THERE'S A CHALLENGE THAT 20:51.818 --> 20:53.019 GOES WITH IT, WHICH IS AM I 20:53.019 --> 20:57.323 SO BUSY -- THIS ENDLESS 20:57.323 --> 20:58.425 CYCLE OF PRODUCING AND 20:58.425 --> 20:59.626 CONSUMING MEDIA LIKE NOT 20:59.626 --> 21:01.027 THAT LONG AGO I WROTE 21:01.027 --> 21:02.629 SOMETHING FOR A MAGAZINE 21:02.629 --> 21:05.031 ABOUT NEAL YOUNG AND IT WAS 21:05.031 --> 21:06.733 SUPPOSED TO BE LIKE 5,000 21:06.733 --> 21:07.133 WORDS. 21:07.133 --> 21:08.335 I THOUGHT I HAVEN'T HAD A 21:08.335 --> 21:09.936 THOUGHT THAT WAS LONGER THAN 21:09.936 --> 21:12.138 10 WORDS IN A LONG TIME. 21:12.138 --> 21:12.839 [LAUGHTER] 21:12.839 --> 21:15.642 AND JUST THE CURSOR IS JUST 21:15.642 --> 21:16.843 LIKE BEEP, BEEP, BEEP. 21:16.843 --> 21:18.945 LOOKING AT ME. 21:18.945 --> 21:20.246 >> BUT YOU GOT IT DONE. 21:20.246 --> 21:21.548 >> I SWEATED IT. 21:21.548 --> 21:24.250 AND WHAT I THINK REPORTERS 21:24.250 --> 21:25.952 CONFRONT -- I TALKED EARLIER 21:25.952 --> 21:27.253 ABOUT HOW GREAT IT IS. 21:27.253 --> 21:30.990 BUT THE POINT AT WHICH YOU 21:30.990 --> 21:32.392 EITHER STOP PRODUCING MEDIA 21:32.392 --> 21:36.396 AND START CONSUMING IT OR 21:36.396 --> 21:37.697 STOP CONSUMING IT AND 21:37.697 --> 21:40.100 PRODUCE IT, THINK OF SOUTH 21:40.100 --> 21:41.801 BY SOUTHWEST AND BEING IN 21:41.801 --> 21:45.705 THE MIDDLE OF THAT MALL 21:45.705 --> 21:46.206 STROM. 21:46.206 --> 21:47.207 BY THE END OF THIS WEEK THAT 21:47.207 --> 21:48.408 PERSON THAT WILL KNOW THE 21:48.408 --> 21:48.808 LEAST ABOUT SOUTH BY 21:48.808 --> 21:49.809 SOUTHWEST WILL BE ME. 21:49.809 --> 21:51.111 I'M IN THE THICK OF IT. 21:51.111 --> 21:52.912 I HAVE NO IDEA. 21:52.912 --> 21:55.615 >> HARD TO HAVE PERSPECTIVE 21:55.615 --> 21:56.116 ON IT. 21:56.116 --> 21:57.517 >> YOU HAVE TO PULL BACK A 21:57.517 --> 21:58.018 LITTLE BIT. 21:58.018 --> 21:59.319 I THINK IF YOU'RE A DIGITAL 21:59.319 --> 22:00.820 NATIVE -- I'M OLDER THAN 22:00.820 --> 22:02.222 DIRT, SO I'M LIKE AN 22:02.222 --> 22:04.024 ADOPTER. 22:04.024 --> 22:05.125 BUT IF YOU THINK OF SOMEONE 22:05.125 --> 22:07.127 I WORK WITH LIKE BRYAN OR 22:07.127 --> 22:12.332 AMY, WHERE THE NIGHT WHEN 22:12.332 --> 22:16.836 OSAMA BIN LADEN WAS KILLED, 22:16.836 --> 22:18.738 EARLY ON THERE WAS THIS 22:18.738 --> 22:20.840 INDICATION THAT THERE WAS A 22:20.840 --> 22:27.147 TWEET OUT OF ABAD ABAD THAT 22:27.147 --> 22:28.348 GOT THINGS ROLLING AND I 22:28.348 --> 22:29.883 THOUGHT OH MY GOSH, THIS WAS 22:29.883 --> 22:30.684 A MEDIA STORY. 22:30.684 --> 22:31.985 AND FOR A DAILY NEWSPAPER 22:31.985 --> 22:33.386 REPORTER, YOU WANT TO SWIM 22:33.386 --> 22:34.287 TOWARD WHATEVER HEAT THERE 22:34.287 --> 22:34.688 IS. 22:34.688 --> 22:35.689 >> ABSOLUTELY. 22:35.689 --> 22:36.990 >> AND IN SEARCH OF THE 22:36.990 --> 22:39.292 ELUSIVE MEDIA ANGLE. 22:39.292 --> 22:41.494 SO I START LOOKING ON THE 22:41.494 --> 22:42.696 WEB AND PRINTING THIS OUT 22:42.696 --> 22:45.298 AND GATHERING THIS IN, AND 22:45.298 --> 22:46.499 JUST ABOUT THE TIME I'M 22:46.499 --> 22:49.602 GOING TO FILE WE HAVE A 22:49.602 --> 22:50.603 MEDIA SITE AT THE "NEW YORK 22:50.603 --> 22:53.106 TIMES" CALLED MEDIA DECODER. 22:53.106 --> 22:55.108 I'M LIKE SOMEBODY SHOULD 22:55.108 --> 22:56.209 WRITE A BLOG POST ABOUT 22:56.209 --> 22:56.509 THIS. 22:56.509 --> 22:58.011 I OPEN IT UP, MY COLLEAGUE 22:58.011 --> 22:59.713 BRYAN HAS 900 WORDS ALREADY 22:59.713 --> 23:00.513 THERE. 23:00.513 --> 23:03.316 AND WHAT HE WAS DOING, 23:03.316 --> 23:05.618 TYPING, PULLING IN, SEEING, 23:05.618 --> 23:07.120 PULLING IN. 23:07.120 --> 23:09.222 AND THAT IS NOT REALLY BAKED 23:09.222 --> 23:09.923 INTO ME. 23:09.923 --> 23:13.026 >> A TALL MICROORGANISM OF 23:13.026 --> 23:14.728 SOMEBODY OF HIS SORT IS A 23:14.728 --> 23:15.528 DIFFERENT THING. 23:15.528 --> 23:17.430 >> FOR AWHILE I COULDN'T 23:17.430 --> 23:18.531 WRITE A COLUMN UNTIL UNLESS 23:18.531 --> 23:21.434 I HAD A FOLDER THE SIZE OF A 23:21.434 --> 23:22.936 HAM SANDWICH WITH ALL MY 23:22.936 --> 23:24.237 IMPORTANT PAPERS ALL MARKED 23:24.237 --> 23:26.139 UP WITH YELLOW STICKIES. 23:26.139 --> 23:27.240 AND BROTHER, THAT ISN'T 23:27.240 --> 23:28.341 GOING TO GET IT. 23:28.341 --> 23:29.642 IT ISN'T GOING TO WORK. 23:29.642 --> 23:31.244 >> YOUR INDIVIDUAL BRAND IS 23:31.244 --> 23:32.245 QUITE POWERFUL. 23:32.245 --> 23:36.249 AND NOT LONG AGO INDIVIDUAL 23:36.249 --> 23:38.651 BRANDS PROBABLY DISCOURAGED 23:38.651 --> 23:40.754 THEIR REPORTERS FROM 23:40.754 --> 23:41.755 STEPPING OUT AS INDIVIDUAL 23:41.755 --> 23:42.155 BRANDS. 23:42.155 --> 23:43.356 THE INSTITUTIONAL BRAND 23:43.356 --> 23:45.158 ALWAYS SUPERCEDED THE 23:45.158 --> 23:45.859 INDIVIDUAL BRAND. 23:45.859 --> 23:46.860 IT NOW SEEMS THAT THE 23:46.860 --> 23:48.461 INDIVIDUAL BRAND AT YOURS AT 23:48.461 --> 23:50.163 PAPERS ARE THE ROCKET 23:50.163 --> 23:51.364 BOOSTER THAT CARRY THE 23:51.364 --> 23:52.465 INSTITUTIONAL BRAND ALONG. 23:52.465 --> 23:53.767 THAT FEELS LIKE A PRETTY 23:53.767 --> 23:56.569 SIGNIFICANT CHANGE TO ME. 23:56.569 --> 23:57.370 WHAT DO YOU THINK ABOUT IT? 23:57.370 --> 23:58.571 >> I WORKED REAL HARD ON 23:58.571 --> 23:59.472 FITTING IN AT THE "NEW YORK 23:59.472 --> 24:02.375 TIMES" BEFORE I WORKED ON 24:02.375 --> 24:03.076 STICKING OUT. 24:03.076 --> 24:05.779 AND BY FITTING IN I MEAN NOT 24:05.779 --> 24:07.681 ENDING UP ON THE CORRECTIONS 24:07.681 --> 24:11.685 PAGE, NOT GETTING IN A BUNCH 24:11.685 --> 24:15.488 OF JACKPOTS. 24:15.488 --> 24:17.190 NOT BEING KNOWN AS A BAD 24:17.190 --> 24:17.490 COLLEAGUE. 24:17.490 --> 24:18.491 I DO THINK THAT INDIVIDUAL 24:18.491 --> 24:19.693 BRANDS, THAT MORE AND MORE 24:19.693 --> 24:21.194 YOU SEE IN MEDIA COMPANIES, 24:21.194 --> 24:22.295 AS YOU SAY, THEY BECOME 24:22.295 --> 24:25.298 FEDERATIONS OF DIFFERENT 24:25.298 --> 24:25.899 BRANDS. 24:25.899 --> 24:28.201 BUT THINK IF I JUST WALKED 24:28.201 --> 24:32.939 OUT THERE WITH THE TIP CUP. 24:32.939 --> 24:37.344 YOU KNOW, I'M NOT MAUREEN 24:37.344 --> 24:39.646 DOWD, I'M NOT FRANK RICH. 24:39.646 --> 24:41.748 I'M LIKE A TIER UNDERNEATH 24:41.748 --> 24:42.248 THAT. 24:42.248 --> 24:45.452 AND IT'S GOOD THAT I DO 24:45.452 --> 24:50.457 VIDEO AND I BLOG AND -- BUT 24:50.457 --> 24:52.158 IF MY LAST NAME WAS NOT "NEW 24:52.158 --> 24:53.560 YORK TIMES", I WONDER HOW 24:53.560 --> 24:55.161 FANCY THAT BRAND S I THINK 24:55.161 --> 24:56.563 PART OF THE REASON THAT MY 24:56.563 --> 24:58.465 BRAND WORKS, THAT I HAVE A 24:58.465 --> 24:59.866 BRAND AT ALL IS THAT GUY IS 24:59.866 --> 25:00.967 REALLY WEIRD. 25:00.967 --> 25:01.668 I CAN'T BELIEVE HE WORKS AT 25:01.668 --> 25:02.569 THE "NEW YORK TIMES". 25:02.569 --> 25:03.069 [LAUGHTER] 25:03.069 --> 25:04.771 >> 25:04.771 --> 25:05.972 SO THESE TWO THINGS 25:05.972 --> 25:07.374 TOGETHER, IF YOU PULL ONE OR 25:07.374 --> 25:08.575 THE OTHER AWAY, I THINK I'M 25:08.575 --> 25:10.977 JUST -- 25:10.977 --> 25:12.178 >> DAVID CARR OF THE "NEW 25:12.178 --> 25:14.681 YORK TIMES" TRUMPS DAVID 25:14.681 --> 25:15.682 CARR WAS DENVER POST. 25:15.682 --> 25:18.184 >> OR DAVID CARR OF 25:18.184 --> 25:19.786 DAVIDCARR.COM. 25:19.786 --> 25:21.488 >> WELL, WE APPRECIATE WHO 25:21.488 --> 25:21.788 YOU ARE. 25:21.788 --> 25:22.889 WE APPRECIATE YOU COMING AND 25:22.889 --> 25:23.890 SITTING WITH US. 25:23.890 --> 25:24.891 >> A PLEASURE. 25:24.891 --> 25:25.592 >> THANK YOU. 25:25.592 --> 25:27.093 DAVID CARR [APPLAUSE] 25:27.093 --> 25:28.695 >> WE'D LOVE TO HAVE YOU 25:28.695 --> 25:29.529 JOIN US IN THE STUDIO. 25:29.529 --> 25:30.830 VISIT OUR WEBSITE AT 25:30.830 --> 25:33.633 KLRU.ORG/OVERHEARD TO FIND 25:33.633 --> 25:35.235 INVITATIONS TO INTERVIEWS, Q 25:35.235 --> 25:38.438 AND AS WITH OUR AUDIENCE AND 25:38.438 --> 25:40.240 GUESTS AN AN ARCHIVE OF PAST 25:40.240 --> 25:41.941 EPISODES. 25:41.941 --> 25:43.743 >> I WRITE ABOUT NEWSPAPERS 25:43.743 --> 25:47.947 AND THEY'RE KIND OF BORING. 25:47.947 --> 25:49.449 I MEAN, IT'S A BUNCH OF 25:49.449 --> 25:50.650 WHITE PEOPLE IN CUBES 25:50.650 --> 25:51.151 TYPING. 25:51.151 --> 25:53.753 IT'S NOT LIKE -- I DON'T 25:53.753 --> 25:54.154 KNOW. 25:54.154 --> 25:56.356 IT'S NOT ARGO, I'VE JUST GOT 25:56.356 --> 25:58.258 TO SAY. 25:58.258 --> 26:10.370 >> FUNDING FOR OVERHEARD 26:10.370 --> 26:11.271 WITH EVAN SMITH IS PROVIDED 26:11.271 --> 26:13.373 IN PART BY THE MATTSSON 26:13.373 --> 26:14.874 MCHALE FOUNDATION IN SUPPORT 26:14.874 --> 26:16.676 OF PUBLIC TELEVISION. 26:16.676 --> 26:19.379 ALSO BY MFI FOUNDATION, 26:19.379 --> 26:20.580 IMPROVING THE QUALITY OF 26:20.580 --> 26:22.182 LIFE WITHIN OUR COMMUNITY. 26:22.182 --> 26:23.883 AND FROM THE TEXAS BOARD OF 26:23.883 --> 26:25.385 LEGAL SPECIALIZATION, BOARD 26:25.385 --> 26:26.886 CERTIFIED ATTORNEYS IN YOUR 26:26.886 --> 26:27.987 COMMUNITY. 26:27.987 --> 26:29.823 EXPERIENCED, RESPECTED AND 26:29.823 --> 26:30.824 TESTED. 26:30.824 --> 26:32.926 ALSO BY HILLCO PARTNERS, 26:32.926 --> 26:33.927 TEXAS GOVERNMENT AFFAIRS 26:33.927 --> 26:35.929 CONSULTANCY AND IT'S GLOBAL 26:35.929 --> 26:37.030 HEALTH CARE CONSULTING 26:37.030 --> 26:38.631 BUSINESS UNIT, HILLCO 26:38.631 --> 26:39.532 HEALTH. 26:39.532 --> 26:41.334 AND BY THE ALICE KLEBERG 26:41.334 --> 26:42.936 REYNOLDS FOUNDATION, AND 26:42.936 --> 27:04.858 VIEWERS LIKE YOU, THANK YOU. 27:04.858 --> 27:09.562 >> THIS WEEK ON OVERHEARD, 27:09.562 --> 27:10.964 "NEW YORK TIMES" COLUMNIST 27:10.964 --> 27:11.664 DAVID CARR. 27:11.664 --> 27:13.366 >> IF YOU'RE THE KIND OF 27:13.366 --> 27:14.367 PAPER WHERE PEOPLE WILL TEAR 27:14.367 --> 27:16.670 OUT A PICTURE OF THEIR KID 27:16.670 --> 27:17.971 PLAYING THIRD BASE FOR THE 27:17.971 --> 27:20.373 LOCAL LITTLE LEAGUE TEAM AND 27:20.373 --> 27:21.975 PUT IT ON THE REFRIGERATOR, 27:21.975 --> 27:22.976 THE WEBSITE IS NEVER GOING 27:22.976 --> 27:24.077 ON DO THAT FOR YOU. 27:24.077 --> 27:24.978 I THINK PART OF THE REASON 27:24.978 --> 27:27.080 THAT MY BRAND WORKS, THAT I 27:27.080 --> 27:28.481 HAVE A BRAND AT ALL, IS LIKE 27:28.481 --> 27:30.717 THAT GUY'S REALLY WEIRD. 27:30.717 --> 27:31.518 I CAN'T BELIEVE HE WORKS AT 27:31.518 --> 27:35.518 THE "NEW YORK TIMES".