1 00:00:01,101 --> 00:00:07,608 >> FUNDING FOR "OVERHEARD" WITH 2 00:00:07,608 --> 00:00:09,510 EVAN SMITH IS PROVIDED IN PART 3 00:00:09,510 --> 00:00:12,012 BY MFI FOUNDATION, IMPROVING THE 4 00:00:12,012 --> 00:00:13,914 QUALITY OF LIFE WITHIN OUR 5 00:00:13,914 --> 00:00:14,314 COMMUNITY. 6 00:00:14,314 --> 00:00:15,816 AND FROM THE TEXAS BOARD OF 7 00:00:15,816 --> 00:00:18,418 LEGAL SPECIALIZATION, BOARD 8 00:00:18,418 --> 00:00:19,720 CERTIFIED ATTORNEYS IN YOUR 9 00:00:19,720 --> 00:00:20,220 COMMUNITY. 10 00:00:20,220 --> 00:00:22,723 EXPERIENCED, RESPECTED AND 11 00:00:22,723 --> 00:00:23,524 TESTED. 12 00:00:23,524 --> 00:00:25,425 ALSO BY HILLCO PARTNERS, TEXAS 13 00:00:25,425 --> 00:00:27,828 GOVERNMENT AFFAIRS CONSULTANCY, 14 00:00:27,828 --> 00:00:29,830 AND ITS GLOBAL HEALTH CARE 15 00:00:29,830 --> 00:00:31,031 CONSULTING BUSINESS UNIT, HILLCO 16 00:00:31,031 --> 00:00:34,534 HEALTH, AND BY THE ALICE KLEBERG 17 00:00:34,534 --> 00:00:36,036 REYNOLDS FOUNDATION AND VIEWERS 18 00:00:36,036 --> 00:00:37,237 LIKE YOU, THANK YOU. 19 00:00:37,237 --> 00:00:41,241 >> I'M EVAN SMITH. 20 00:00:41,241 --> 00:00:43,844 "THE WASHINGTON POST," 21 00:00:43,844 --> 00:00:45,279 PREVIOUSLY EDITED 22 00:00:45,279 --> 00:00:47,381 "THE~BOSTON~GLOBE" WHERE HE AND 23 00:00:47,381 --> 00:00:49,583 HIS COLLEAGUES WON SIX PULITZER 24 00:00:49,583 --> 00:00:53,287 PRIZES, JOURNALISM'S HIGHEST 25 00:00:53,287 --> 00:00:54,087 HONOR. 26 00:00:54,087 --> 00:00:58,492 HE'S MARTIN BARON, THIS IS 27 00:00:58,492 --> 00:00:58,992 "OVERHEARD." 28 00:00:58,992 --> 00:01:00,594 >> I GUESS WE CAN'T FIRE HIM 29 00:01:00,594 --> 00:01:00,794 NOW. 30 00:01:00,794 --> 00:01:01,995 >> THE NIGHT THAT I WIN THE 31 00:01:01,995 --> 00:01:02,296 EMMY. 32 00:01:02,296 --> 00:01:03,797 >> BEING ON THE SUPREME COURT 33 00:01:03,797 --> 00:01:05,399 WAS AN IMPROBABLE DREAM. 34 00:01:05,399 --> 00:01:07,200 >> IT'S HARD WORK AND IT'S 35 00:01:07,200 --> 00:01:08,101 CONTROVERSIAL. 36 00:01:08,101 --> 00:01:10,404 >> WITHOUT INFORMATION THERE IS 37 00:01:10,404 --> 00:01:12,506 NO FREEDOM AND IT'S JOURNALISTS 38 00:01:12,506 --> 00:01:13,607 WHO PROVIDE THAT INFORMATION. 39 00:01:13,607 --> 00:01:15,208 >> WINDOWS ROLL DOWN, THIS GUY 40 00:01:15,208 --> 00:01:18,011 SAYS, HEY, IT GOES TO 11. 41 00:01:18,011 --> 00:01:19,212 [ LAUGHTER ] 42 00:01:19,212 --> 00:01:25,719 >> MARTY BARON, WELCOME. 43 00:01:25,719 --> 00:01:26,620 >> THANK YOU. 44 00:01:26,620 --> 00:01:27,921 >> NICE TO SEE YOU. 45 00:01:27,921 --> 00:01:29,122 >> IT'S BEEN FIFTEEN MONTHS OR 46 00:01:29,122 --> 00:01:30,123 SO, THE BIG JOB AT THE 47 00:01:30,123 --> 00:01:33,126 WASHINGTON POST, GRADE YOURSELF, 48 00:01:33,126 --> 00:01:35,228 HOW DO YOU THINK YOU'VE DONE, 49 00:01:35,228 --> 00:01:36,430 ASSESS YOUR OWN WORK. 50 00:01:36,430 --> 00:01:38,832 >> SURE, WELL, I'LL GRADE 51 00:01:38,832 --> 00:01:42,035 OURSELVES AS A GROUP, NOT MYSELF 52 00:01:42,035 --> 00:01:43,337 PERSONALLY, I THINK THE POST HAS 53 00:01:43,337 --> 00:01:45,772 DONE A TERRIFIC JOB. 54 00:01:45,772 --> 00:01:47,574 OUR WORK, THE WORK THAT WE DID 55 00:01:47,574 --> 00:01:49,176 ON THE N.S.A. WAS AT THE LEADING 56 00:01:49,176 --> 00:01:49,876 EDGE OF THAT STORY. 57 00:01:49,876 --> 00:01:52,479 >> AND LET'S HOPE IT'S REWARDED 58 00:01:52,479 --> 00:01:54,081 APPROPRIATELY AT THE -- AT THOSE 59 00:01:54,081 --> 00:01:56,984 MOMENTS, IT WILL COME SOON, 60 00:01:56,984 --> 00:01:57,584 LET'S HOPE. 61 00:01:57,584 --> 00:01:59,686 >> FROM YOUR LIPS TO GOD'S EARS. 62 00:01:59,686 --> 00:02:00,087 >> YEAH. 63 00:02:00,087 --> 00:02:02,289 >> THE WORK THAT WE DID ON THE 64 00:02:02,289 --> 00:02:03,890 GOVERNOR OF VIRGINIA, ACTUALLY 65 00:02:03,890 --> 00:02:05,993 LED TO HIS INDICTMENT, WE DID 66 00:02:05,993 --> 00:02:09,796 WORK ON ABUSE OF TAX LIENS, THAT 67 00:02:09,796 --> 00:02:10,697 WAS TREMENDOUS. 68 00:02:10,697 --> 00:02:12,099 GREAT NARRATIVE WORK BY ONE OF 69 00:02:12,099 --> 00:02:13,800 OUR OUTSTANDING WRITERS ABOUT 70 00:02:13,800 --> 00:02:15,302 THE FOOD STAMP PROGRAM AND 71 00:02:15,302 --> 00:02:16,903 TAKING A DEEP LOOK AT THAT, I 72 00:02:16,903 --> 00:02:18,205 THINK ACROSS THE BOARD THE 73 00:02:18,205 --> 00:02:21,708 JOURNALISM WAS OUTSTANDING. 74 00:02:21,708 --> 00:02:23,210 >> ISN'T IT AMAZING TO TALK 75 00:02:23,210 --> 00:02:25,512 ABOUT JOURNALISM IN JOURNALISM, 76 00:02:25,512 --> 00:02:27,714 WE SPEND A LOT OF TIME TALKING 77 00:02:27,714 --> 00:02:30,717 ABOUT THE JOURNALISM END OF THAT 78 00:02:30,717 --> 00:02:33,020 PHRASE, YOU SOUND LIKE AN OLD 79 00:02:33,020 --> 00:02:34,121 SCHOOL GUY TALKING ABOUT 80 00:02:34,121 --> 00:02:35,022 JOURNALISM. 81 00:02:35,022 --> 00:02:39,626 >> I LIKE THE WORD JOURNALISM, I 82 00:02:39,626 --> 00:02:41,328 DETEST THE WORD CONTENT. 83 00:02:41,328 --> 00:02:42,629 >> I'LL MAKE A NOTE OF THAT. 84 00:02:42,629 --> 00:02:44,031 >> I HAVE TO USE IT WITH MY 85 00:02:44,031 --> 00:02:47,267 BUSINESS COLLEAGUES, THAT'S THE 86 00:02:47,267 --> 00:02:48,468 WORD THEY USE FREQUENTLY. 87 00:02:48,468 --> 00:02:49,870 BUT THE FACT IS THAT IF YOU SAY 88 00:02:49,870 --> 00:02:52,472 "CONTENT", IT'S AS IF YOU WERE 89 00:02:52,472 --> 00:02:53,974 SAYING THE WORD "STUFF", IT 90 00:02:53,974 --> 00:02:56,376 DOESN'T HAVE ANY REAL MEANING, 91 00:02:56,376 --> 00:02:59,079 JOURNALISM DOES HAVE MEANING. 92 00:02:59,079 --> 00:03:00,881 WE'RE TRYING TO FIND WHY THINGS 93 00:03:00,881 --> 00:03:02,182 HAPPENED, WHERE THEY'RE HEADED, 94 00:03:02,182 --> 00:03:03,683 WHO'S BEHIND IT, THERE'S A 95 00:03:03,683 --> 00:03:05,085 DEEPER LEVEL OF MEANING, I THINK 96 00:03:05,085 --> 00:03:08,789 THE WORD JOURNALISM IS VERY 97 00:03:08,789 --> 00:03:08,989 IMPORTANT. 98 00:03:08,989 --> 00:03:11,692 >> YOU'VE SEEN IF NOT ENTIRELY A 99 00:03:11,692 --> 00:03:12,793 CERTAIN AMOUNT OF COMFORT. 100 00:03:12,793 --> 00:03:14,694 MAYBE IT IS ENTIRELY COMFORT IN 101 00:03:14,694 --> 00:03:15,896 MOVING INTO A LOT OF THESE 102 00:03:15,896 --> 00:03:17,297 ADDITIONAL PLATFORMS THAT 103 00:03:17,297 --> 00:03:19,099 JOURNALISM ORGANIZATIONS, NEWS 104 00:03:19,099 --> 00:03:20,300 ORGANIZATIONS OBLIGATED TO OWN 105 00:03:20,300 --> 00:03:22,002 THESE DAYS, IT'S NOT JUST THE 106 00:03:22,002 --> 00:03:23,303 WRITTEN WORD ON THE PRINTED 107 00:03:23,303 --> 00:03:25,705 PAGE, IT'S VIDEO AND SOCIAL 108 00:03:25,705 --> 00:03:27,808 MEDIA AND SORT OF THE WHOLE 109 00:03:27,808 --> 00:03:32,212 PANOPLY OF THINGS, THIS IS WHAT 110 00:03:32,212 --> 00:03:32,612 WE DO. 111 00:03:32,612 --> 00:03:34,214 >> WE HAVE WONDERFUL NEW TOOLS, 112 00:03:34,214 --> 00:03:36,316 VERY POWERFUL NEW TOOLS, THEY'RE 113 00:03:36,316 --> 00:03:38,618 NOT CONTRARY TO GOOD JOURNALISM. 114 00:03:38,618 --> 00:03:39,820 >> YOU THINK THEY'RE CONSISTENT 115 00:03:39,820 --> 00:03:41,121 WITH THE KIND OF STORY TELLING. 116 00:03:41,121 --> 00:03:42,322 >> THEY'RE CONSISTENT WITH STORY 117 00:03:42,322 --> 00:03:42,823 TELLING. 118 00:03:42,823 --> 00:03:44,558 THEY ALLOW US TO DO STORY 119 00:03:44,558 --> 00:03:46,760 TELLING AT A MUCH DEEPER LEVEL, 120 00:03:46,760 --> 00:03:48,361 USE VIDEO, GIVE A SENSE OF THE 121 00:03:48,361 --> 00:03:49,663 PERSON, PROVIDE ORIGINAL 122 00:03:49,663 --> 00:03:50,664 DOCUMENTATION THAT PEOPLE MIGHT 123 00:03:50,664 --> 00:03:52,165 WANT TO SEE THAT ACTUALLY ADDS 124 00:03:52,165 --> 00:03:53,767 CREDIBILITY TO THE WORK THAT WE 125 00:03:53,767 --> 00:03:55,168 DO, THAT ENGAGES THE AUDIENCE, 126 00:03:55,168 --> 00:03:56,770 THAT ALLOWS THEM TO PARTICIPATE, 127 00:03:56,770 --> 00:03:58,772 THAT ACTUALLY USES THEM AS 128 00:03:58,772 --> 00:04:00,674 REPORTING RESOURCES FOR US AS 129 00:04:00,674 --> 00:04:02,876 WELL, THE PUBLIC IS EXTREMELY 130 00:04:02,876 --> 00:04:03,777 KNOWLEDGE ABOUT A LOT OF 131 00:04:03,777 --> 00:04:05,078 SUBJECTS, MORE KNOWLEDGEABLE 132 00:04:05,078 --> 00:04:06,580 THAN WE ARE, AND WE CAN USE THEM 133 00:04:06,580 --> 00:04:07,881 TO OUR ADVANTAGE TO ACTUALLY 134 00:04:07,881 --> 00:04:08,682 TELL STORIES. 135 00:04:08,682 --> 00:04:11,685 >> ONE WOULD BE FORGIVEN BASED 136 00:04:11,685 --> 00:04:13,687 ON YOUR AFFECT TODAY, YOU'RE 137 00:04:13,687 --> 00:04:15,088 SAYING THIS IS A GOOD TIME TO BE 138 00:04:15,088 --> 00:04:16,389 IN THE BUSINESS WE'RE IN. 139 00:04:16,389 --> 00:04:19,092 >> I THINK IT IS A GOOD TIME. 140 00:04:19,092 --> 00:04:20,093 >> A MINORITY POSITION. 141 00:04:20,093 --> 00:04:22,395 >> I HAVEN'T TAKEN THAT SURVEY, 142 00:04:22,395 --> 00:04:23,897 I DON'T KNOW IF IT'S A MINORITY 143 00:04:23,897 --> 00:04:25,398 POSITION, BUT I REALLY DO FEEL 144 00:04:25,398 --> 00:04:26,600 IT'S A GOOD TIME TO BE IN THE 145 00:04:26,600 --> 00:04:28,502 BUSINESS, FIRST OF ALL, WE'RE 146 00:04:28,502 --> 00:04:30,103 REACHING FAR MORE PEOPLE THAN 147 00:04:30,103 --> 00:04:32,105 WE'VE EVER REACHED BEFORE. 148 00:04:32,105 --> 00:04:34,708 >> ACROSS A VARIETY -- 149 00:04:34,708 --> 00:04:38,812 >> THE WASHINGTON POST HAS 150 00:04:38,812 --> 00:04:40,514 30 MILLION PEOPLE COMING TO ITS 151 00:04:40,514 --> 00:04:42,415 WEBSITE, THAT'S HUGE, THAT'S FAR 152 00:04:42,415 --> 00:04:44,117 MORE THAN WE WERE ABLE TO 153 00:04:44,117 --> 00:04:45,118 ACHIEVE BEFORE. 154 00:04:45,118 --> 00:04:46,219 >> THAT'S ALL GOOD? 155 00:04:46,219 --> 00:04:47,721 >> IT'S ALL GOOD. 156 00:04:47,721 --> 00:04:49,823 AS I MENTIONED, WE HAD STORY 157 00:04:49,823 --> 00:04:51,424 TELLING TOOLS AVAILABLE TO US 158 00:04:51,424 --> 00:04:53,426 THAT WE DID NOT HAVE BEFORE, SO 159 00:04:53,426 --> 00:04:54,728 WE CAN EXTEND OUR REACH. 160 00:04:54,728 --> 00:04:57,030 WE CAN TELL STORIES IN NEW WAYS, 161 00:04:57,030 --> 00:04:58,231 TELL STORIES IN PARTICULARLY 162 00:04:58,231 --> 00:04:59,933 EFFECTIVE WAYS, WAYS THAT ENGAGE 163 00:04:59,933 --> 00:05:02,035 A BROAD AUDIENCE AND I THINK 164 00:05:02,035 --> 00:05:03,837 THERE ARE ENORMOUS CHALLENGES IN 165 00:05:03,837 --> 00:05:04,437 OUR BUSINESS. 166 00:05:04,437 --> 00:05:05,839 I'M NOT DENYING THAT. 167 00:05:05,839 --> 00:05:08,642 I'M NOT A POLLY ANNA, ENORMOUS 168 00:05:08,642 --> 00:05:10,243 PRESSURES, I'VE BEEN SUBJECT TO 169 00:05:10,243 --> 00:05:11,645 THEM, EVERYBODY HAS BEEN SUBJECT 170 00:05:11,645 --> 00:05:14,447 TO THEM, THEY'RE VERY DIFFICULT, 171 00:05:14,447 --> 00:05:15,549 THAT DOESN'T MEAN WE DON'T HAVE 172 00:05:15,549 --> 00:05:17,250 A FUTURE, THAT DOESN'T MEAN THAT 173 00:05:17,250 --> 00:05:19,052 WE SHOULDN'T BE OPTIMISTIC, I 174 00:05:19,052 --> 00:05:20,253 THINK WE SHOULD FOR A VARIETY OF 175 00:05:20,253 --> 00:05:21,354 REASONS. 176 00:05:21,354 --> 00:05:23,056 >> IF YOU COME OUT AND YOU GO BY 177 00:05:23,056 --> 00:05:24,858 THE WASHINGTON POST, WHAT YOU'RE 178 00:05:24,858 --> 00:05:26,359 GOING TO SEE IS OPPORTUNITY, 179 00:05:26,359 --> 00:05:26,760 RIGHT? 180 00:05:26,760 --> 00:05:29,062 THE POINT OF THIS, THE UNREST, 181 00:05:29,062 --> 00:05:30,263 THIS TURMOIL THAT WE LIVE IN 182 00:05:30,263 --> 00:05:32,566 EVERY DAY HAS NONETHELESS 183 00:05:32,566 --> 00:05:34,067 CREATED OPPORTUNITY FOR SMART 184 00:05:34,067 --> 00:05:35,268 YOUNG PEOPLE TO COME UP WITH NEW 185 00:05:35,268 --> 00:05:36,570 WAYS OF DOING THINGS. 186 00:05:36,570 --> 00:05:38,471 IT'S CREATED ESSENTIALLY NEW JOB 187 00:05:38,471 --> 00:05:39,973 DESCRIPTIONS, AT PLACES LIKE THE 188 00:05:39,973 --> 00:05:40,473 POST. 189 00:05:40,473 --> 00:05:42,976 THAT'S A GOOD THING, AND YOU'RE 190 00:05:42,976 --> 00:05:44,077 COMFORTABLE WITH THAT KIND OF 191 00:05:44,077 --> 00:05:44,511 EVOLUTION. 192 00:05:44,511 --> 00:05:45,712 >> I'M EXCITED ABOUT THAT, 193 00:05:45,712 --> 00:05:46,012 ACTUALLY. 194 00:05:46,012 --> 00:05:47,514 WE HAVE A WHOLE NEW GROUP OF 195 00:05:47,514 --> 00:05:48,515 PEOPLE COMING INTO OUR BUSINESS 196 00:05:48,515 --> 00:05:50,317 WHO ARE DIGITAL NATIVES, THEY 197 00:05:50,317 --> 00:05:52,018 GREW UP -- YEP, FIRST 198 00:05:52,018 --> 00:05:52,419 GENERATION. 199 00:05:52,419 --> 00:05:54,521 >> THAT'S THEIR NATIVE LANGUAGE, 200 00:05:54,521 --> 00:05:57,524 FOR PEOPLE LIKE ME, WE'RE 201 00:05:57,524 --> 00:05:58,625 LEARNING THAT, IT SHOWS SOME 202 00:05:58,625 --> 00:05:59,826 TIMES THAT WE'RE STILL IN THE 203 00:05:59,826 --> 00:06:01,127 PROCESS OF LEARNING, FOR YOUNG 204 00:06:01,127 --> 00:06:02,829 PEOPLE, THEY'VE GROWN UP WITH 205 00:06:02,829 --> 00:06:04,631 THIS FROM THE VERY BEGINNING, 206 00:06:04,631 --> 00:06:05,932 THEY DON'T KNOW ANOTHER 207 00:06:05,932 --> 00:06:07,234 LANGUAGE, SO THEY KIND OF SPEAK 208 00:06:07,234 --> 00:06:08,435 WITHOUT AN ACCENT IN THIS 209 00:06:08,435 --> 00:06:10,136 BUSINESS AND THAT'S AN INJECTION 210 00:06:10,136 --> 00:06:12,939 OF NEW ENERGY, NEW KNOWLEDGE, 211 00:06:12,939 --> 00:06:14,541 THAT WE DIDN'T HAVE BEFORE, AND 212 00:06:14,541 --> 00:06:16,643 FOR THEM THERE ARE TREMENDOUS 213 00:06:16,643 --> 00:06:17,644 OPPORTUNITIES BECAUSE WE'RE 214 00:06:17,644 --> 00:06:19,246 BECOMING AN ENTREPRENEURIAL 215 00:06:19,246 --> 00:06:21,248 BUSINESS, WE'RE BECOMING MUCH 216 00:06:21,248 --> 00:06:23,250 MORE OF A TECHNOLOGY BUSINESS, 217 00:06:23,250 --> 00:06:24,751 THAT'S VERY EXCITING, IT CREATES 218 00:06:24,751 --> 00:06:25,552 TREMENDOUS OPPORTUNITIES FOR 219 00:06:25,552 --> 00:06:28,555 YOUNG PEOPLE IN MEDIA AT LARGE, 220 00:06:28,555 --> 00:06:30,257 IF NOT JUST THE LEGACY 221 00:06:30,257 --> 00:06:31,658 INSTITUTIONS OF "THE WASHINGTON 222 00:06:31,658 --> 00:06:34,761 POST", "THE NEW YORK TIMES," THE 223 00:06:34,761 --> 00:06:35,362 "WALL STREET JOURNAL," WE'RE 224 00:06:35,362 --> 00:06:36,563 TALKING ABOUT MEDIA INSTITUTIONS 225 00:06:36,563 --> 00:06:37,764 THAT ARE CROPPING UP THAT ARE 226 00:06:37,764 --> 00:06:38,765 GROWING UP OVERNIGHT. 227 00:06:38,765 --> 00:06:41,368 >> THE COMPETITIVE SET HAS 228 00:06:41,368 --> 00:06:42,569 CHANGED, THERE ARE ORGANIZATIONS 229 00:06:42,569 --> 00:06:44,905 YOU'RE COMPETING WITH WHO YOU'RE 230 00:06:44,905 --> 00:06:45,905 CONSIDERING TO BE YOUR 231 00:06:45,905 --> 00:06:48,308 COMPETITION PROBABLY WHO YOU 232 00:06:48,308 --> 00:06:49,509 NEVER THOUGHT WOULD BE IN THE 233 00:06:49,509 --> 00:06:49,910 WATER WITH YOU. 234 00:06:49,910 --> 00:06:52,712 >> IT'S A FAR MORE COMPETITIVE 235 00:06:52,712 --> 00:06:52,912 INDUSTRY. 236 00:06:52,912 --> 00:06:54,714 I OFTEN TALK ABOUT WHAT DOES IT 237 00:06:54,714 --> 00:06:55,915 START TO TAKE AN INTERNATIONAL 238 00:06:55,915 --> 00:06:57,917 TELEVISION NETWORK, TURN ON YOUR 239 00:06:57,917 --> 00:06:59,019 COMPUTER AND TURN ON YOUR 240 00:06:59,019 --> 00:06:59,719 CAMERAS. 241 00:06:59,719 --> 00:07:02,122 >> THE BARRIERS TO ENTRY HAVE 242 00:07:02,122 --> 00:07:04,724 BEEN OBLITERATED. 243 00:07:04,724 --> 00:07:06,927 >> THEY SEE ENTREPRENEURIAL 244 00:07:06,927 --> 00:07:08,328 OPPORTUNITIES, VENTURES THAT 245 00:07:08,328 --> 00:07:09,429 THEY CAN START AND WE'RE 246 00:07:09,429 --> 00:07:11,031 COMPETING WITH ALL SORTS OF 247 00:07:11,031 --> 00:07:12,632 ENTITIES THAT HAVE BEEN IN 248 00:07:12,632 --> 00:07:14,634 EXISTENCE FOR A LONG, NOT A LONG 249 00:07:14,634 --> 00:07:16,036 WHILE, GOOGLE, FACEBOOK, 250 00:07:16,036 --> 00:07:17,337 TWITTER, THINGS LIKE THAT. 251 00:07:17,337 --> 00:07:18,638 >> WE DON'T THINK OF THEM AS 252 00:07:18,638 --> 00:07:19,439 MEDIA COMPANIES. 253 00:07:19,439 --> 00:07:21,041 >> THEY ARE MEET I CAN'T 254 00:07:21,041 --> 00:07:22,842 COMPANIES AND THEY DEFINITELY 255 00:07:22,842 --> 00:07:23,743 ARE OUR COMPETITION. 256 00:07:23,743 --> 00:07:25,445 >> IS THE MATERIAL DIFFERENT 257 00:07:25,445 --> 00:07:28,448 BETWEEN "THE BOSTON GLOBE" AND 258 00:07:28,448 --> 00:07:29,249 "THE WASHINGTON POST". 259 00:07:29,249 --> 00:07:31,251 YOU SPENT A DOZEN YEARS AT "THE 260 00:07:31,251 --> 00:07:34,254 GLOBE", HAD GREAT SUCCESS. 261 00:07:34,254 --> 00:07:35,755 "THE WASHINGTON POST" IS "THE 262 00:07:35,755 --> 00:07:36,856 WASHINGTON POST". 263 00:07:36,856 --> 00:07:39,059 WE'RE SITTING HERE IN THE 40th 264 00:07:39,059 --> 00:07:40,960 ANNIVERSARY YEAR OF RICHARD 265 00:07:40,960 --> 00:07:43,563 NIXON'S RESIGNATION DRIVEN 266 00:07:43,563 --> 00:07:45,198 ENTIRELY BY THE REPORTING OF THE 267 00:07:45,198 --> 00:07:46,499 WASHINGTON POST, YOU CAN SAY HE 268 00:07:46,499 --> 00:07:48,501 HAD MADE HIS OWN BED, BUT YOU 269 00:07:48,501 --> 00:07:50,603 CAUSED HIM TO SLEEP IN IT. 270 00:07:50,603 --> 00:07:52,405 YOU KNOW, "THE WASHINGTON POST" 271 00:07:52,405 --> 00:07:55,208 IS ONE OF THESE NATIONAL, 272 00:07:55,208 --> 00:07:56,910 INTERNATIONAL KIND OF COSMIC 273 00:07:56,910 --> 00:07:59,112 UNIVERSAL BRANDS, I'M JUST 274 00:07:59,112 --> 00:08:00,413 WONDERING WHAT THAT SHIFT FOR 275 00:08:00,413 --> 00:08:01,614 YOU HAS BEEN LIKE, OR 276 00:08:01,614 --> 00:08:02,716 ESSENTIALLY YOU COVER UP THE 277 00:08:02,716 --> 00:08:04,117 NAME PLATE AND A NEWSPAPER IS A 278 00:08:04,117 --> 00:08:04,918 NEWSPAPER IS A NEWSPAPER. 279 00:08:04,918 --> 00:08:05,819 >> SURE. 280 00:08:05,819 --> 00:08:07,420 WELL, I WAS AT "THE GLOBE" FOR A 281 00:08:07,420 --> 00:08:10,924 LITTLE SHY OF A DOZEN YEARS AND 282 00:08:10,924 --> 00:08:12,625 I THINK WE DID TREMENDOUS WORK, 283 00:08:12,625 --> 00:08:14,627 I THINK IT'S IMPORTANT TO 284 00:08:14,627 --> 00:08:15,929 REMEMBER THE TREMENDOUS WORK 285 00:08:15,929 --> 00:08:17,630 THAT WAS DONE THERE, THE 286 00:08:17,630 --> 00:08:19,132 INVESTIGATION OF THE CATHOLIC 287 00:08:19,132 --> 00:08:20,533 CHURCH, THE CONCEALMENT OF THAT 288 00:08:20,533 --> 00:08:22,736 ABUSE FOR DECADES BE AT THIS 289 00:08:22,736 --> 00:08:26,539 ARCHDIOCESE OF BOSTON AND THE 290 00:08:26,539 --> 00:08:28,341 CHURCH AT A BROADER LEVEL AS 291 00:08:28,341 --> 00:08:29,943 WELL, THAT HAD AN IMMEDIATE 292 00:08:29,943 --> 00:08:31,745 IMPACT BUT HAS AN IMPACT THAT 293 00:08:31,745 --> 00:08:33,346 CONTINUES TO THIS DAY. 294 00:08:33,346 --> 00:08:34,447 SO AN INSTITUTION LIKE 295 00:08:34,447 --> 00:08:36,549 "THE~BOSTON~GLOBE", POWERFUL 296 00:08:36,549 --> 00:08:38,151 JOURNALISTIC INSTITUTION CAN 297 00:08:38,151 --> 00:08:39,853 HAVE A WORLDWIDE IMPACT AND IT 298 00:08:39,853 --> 00:08:41,354 DID IN THAT INSTANCE, AS FAR AS 299 00:08:41,354 --> 00:08:41,955 "THE WASHINGTON POST" IS 300 00:08:41,955 --> 00:08:43,456 CONCERNED, IT ALREADY HAS A 301 00:08:43,456 --> 00:08:45,291 NATIONAL -- A NATIONAL AND AN 302 00:08:45,291 --> 00:08:46,793 INTERNATIONAL PLATFORM, IT'S ONE 303 00:08:46,793 --> 00:08:48,194 THAT WAS CERTAINLY ESTABLISHED 304 00:08:48,194 --> 00:08:51,197 VERY MUCH IN THE WATER GATE ERA 305 00:08:51,197 --> 00:08:53,700 AND GREW FROM THAT POINT AND IT 306 00:08:53,700 --> 00:08:55,502 STILL DOES TO THIS DAY. 307 00:08:55,502 --> 00:08:57,404 THERE'S A RECOGNITION ON MY PART 308 00:08:57,404 --> 00:08:58,805 THAT I GO TO AN INSTITUTION WITH 309 00:08:58,805 --> 00:09:00,106 A STORIED HISTORY. 310 00:09:00,106 --> 00:09:01,408 >> BIG SHOES TO FILL. 311 00:09:01,408 --> 00:09:03,410 >> BIG SHOES TO FILL, BUT, YOU 312 00:09:03,410 --> 00:09:05,111 KNOW, A HISTORY THAT ACTUALLY 313 00:09:05,111 --> 00:09:07,113 INSPIRES ME RATHER THAN 314 00:09:07,113 --> 00:09:08,314 INTIMIDATES ME. 315 00:09:08,314 --> 00:09:10,116 IT GIVES ME A PURPOSE, I ALREADY 316 00:09:10,116 --> 00:09:11,718 HAD THE PURPOSE, BUT IT'S A 317 00:09:11,718 --> 00:09:13,219 GREAT MOTIVATOR AS WELL. 318 00:09:13,219 --> 00:09:14,521 >> YET, YOU TOLD THE NEW 319 00:09:14,521 --> 00:09:15,422 REPUBLIC WHEN YOU STARTED IN 320 00:09:15,422 --> 00:09:16,923 THIS JOB, THAT YOU THOUGHT ONE 321 00:09:16,923 --> 00:09:18,124 OF THE WAYS IN WHICH THE POST 322 00:09:18,124 --> 00:09:20,927 COULD DO A BASIC WORK WAS METRO 323 00:09:20,927 --> 00:09:21,728 AND LOCAL. 324 00:09:21,728 --> 00:09:22,829 YOU WERE TALKING ABOUT THE 325 00:09:22,829 --> 00:09:23,229 IMPORTANCE OF "THE WASHINGTON 326 00:09:23,229 --> 00:09:24,931 POST" AS A PAPER FOR WASHINGTON, 327 00:09:24,931 --> 00:09:26,032 WHEN MANY OF US THINK ABOUT "THE 328 00:09:26,032 --> 00:09:27,934 WASHINGTON POST" CASUALLY, WE 329 00:09:27,934 --> 00:09:29,636 THINK OF IT AS A NATIONAL BRAND 330 00:09:29,636 --> 00:09:31,037 ALONGSIDE "THE NEW YORK TIMES" 331 00:09:31,037 --> 00:09:31,838 AND "WALL STREET JOURNAL," THERE 332 00:09:31,838 --> 00:09:34,140 ARE FEW NATIONAL MEDIA BRANDS IN 333 00:09:34,140 --> 00:09:35,742 PRINT, THE POST WAS ONE, YOU 334 00:09:35,742 --> 00:09:37,444 TALKED ABOUT METRO AND LOCAL, 335 00:09:37,444 --> 00:09:39,145 I'LL GRANT YOU VINCENT GRAY HAS 336 00:09:39,145 --> 00:09:40,346 BEEN THE GIFT THAT KEEPS ON 337 00:09:40,346 --> 00:09:42,148 GIVING IN THE MAYOR'S OFFICE IN 338 00:09:42,148 --> 00:09:44,084 DC, SADLY THAT GIFT IS COMING TO 339 00:09:44,084 --> 00:09:45,885 AN END, WITH THE RECENT PRIMARY 340 00:09:45,885 --> 00:09:47,187 RESULTS, I CAN UNDERSTAND WHERE 341 00:09:47,187 --> 00:09:48,888 THE MATERIAL IS RICH, BUT REALLY 342 00:09:48,888 --> 00:09:50,490 A METRO AND LOCAL FOCUS. 343 00:09:50,490 --> 00:09:54,094 >> WELL, I DIDN'T SAY TO THE NEW 344 00:09:54,094 --> 00:09:54,994 REPUBLIC THAT "THE WASHINGTON 345 00:09:54,994 --> 00:09:55,895 POST" -- 346 00:09:55,895 --> 00:09:57,297 >> NOT TO THE EXCLUSION OF 347 00:09:57,297 --> 00:09:57,697 EVERYTHING ELSE. 348 00:09:57,697 --> 00:09:58,798 >> WHAT I SAID IS THAT "THE 349 00:09:58,798 --> 00:10:00,400 WASHINGTON POST" NEEDED TO BE 350 00:10:00,400 --> 00:10:03,903 STRONG IN ITS LOCAL COVERAGE. 351 00:10:03,903 --> 00:10:06,005 YOU MENTIONED WASHINGTON, D.C., 352 00:10:06,005 --> 00:10:08,408 WITH YOU WE COVER THE STATE OF 353 00:10:08,408 --> 00:10:10,310 VIRGINIA. 354 00:10:10,310 --> 00:10:12,112 AND MARTIN O'MALLEY, THE 355 00:10:12,112 --> 00:10:13,913 GOVERNOR THERE IS CONTEMPLATING 356 00:10:13,913 --> 00:10:15,715 THE POSSIBILITY OF RUNNING FOR 357 00:10:15,715 --> 00:10:16,616 PRESIDENT, WE'LL SEE. 358 00:10:16,616 --> 00:10:17,417 >> OR VICE PRESIDENT. 359 00:10:17,417 --> 00:10:20,720 >> OR WHO KNOWS WHAT. 360 00:10:20,720 --> 00:10:22,322 SO WE HAVE A GREAT TERRITORY TO 361 00:10:22,322 --> 00:10:23,723 COVER, WE SHOULD BE VERY GOOD AT 362 00:10:23,723 --> 00:10:26,426 THAT, I LOOK AT THIS AS LOCAL 363 00:10:26,426 --> 00:10:27,627 COVERAGE AS SORT OF THE ROOTS OF 364 00:10:27,627 --> 00:10:28,528 THE TREE. 365 00:10:28,528 --> 00:10:31,131 ANY STRONG TREE HAS TO HAVE VERY 366 00:10:31,131 --> 00:10:32,832 STRONG ROOTS BUT IT HAS THE 367 00:10:32,832 --> 00:10:34,334 TRUNK AND IT HAS THE BRANCHES 368 00:10:34,334 --> 00:10:36,035 AND THE ROOTS FOR METROPOLITAN 369 00:10:36,035 --> 00:10:37,937 NEWSPAPER LIKE THE POST, EVEN 370 00:10:37,937 --> 00:10:41,040 THOUGH IT HAS AINGS IN AAL AND 371 00:10:41,040 --> 00:10:42,642 INTERNATIONAL PORTFOLIO ARE IN 372 00:10:42,642 --> 00:10:44,277 ITS LOCAL COVERAGE. 373 00:10:44,277 --> 00:10:45,778 IT HAS TO BE EXCELLENT AT THAT. 374 00:10:45,778 --> 00:10:47,480 IT ALSO HAS TO BE EXCELLENT AT 375 00:10:47,480 --> 00:10:48,081 OTHER THINGS. 376 00:10:48,081 --> 00:10:49,682 >> YOU HAVE TO DEVOTE THE 377 00:10:49,682 --> 00:10:50,984 RESOURCES TO THE ROOTS AND THAT 378 00:10:50,984 --> 00:10:52,485 IS REALLY A QUESTION FOR ANY 379 00:10:52,485 --> 00:10:54,387 EDITOR, ANYBODY IN YOUR POSITION 380 00:10:54,387 --> 00:10:56,489 THESE DAYS IS FINITE RESOURCES, 381 00:10:56,489 --> 00:10:57,790 EVEN IF YOU'RE OWNED BY THE 382 00:10:57,790 --> 00:10:59,993 GREAT BEZOS AS "THE WASHINGTON 383 00:10:59,993 --> 00:11:01,794 POST" HAPPENS TO BE. 384 00:11:01,794 --> 00:11:02,896 WE'LL TALK ABOUT THAT FOR A 385 00:11:02,896 --> 00:11:03,096 SECOND. 386 00:11:03,096 --> 00:11:04,998 THE TAP IS NOT TURNED ON FOREVER 387 00:11:04,998 --> 00:11:06,199 AND AT ALL TIMES. 388 00:11:06,199 --> 00:11:06,900 YOU HAVE TO THINK ABOUT HOW DO 389 00:11:06,900 --> 00:11:08,701 YOU TAKE THE RESOURCES AVAILABLE 390 00:11:08,701 --> 00:11:10,403 AND ALLOCATE THEM N THE CASE OF 391 00:11:10,403 --> 00:11:12,906 METRO AND LOCAL, THAT IS 392 00:11:12,906 --> 00:11:14,507 PRESUMABLY CHEAPER COVERAGE TO 393 00:11:14,507 --> 00:11:16,309 PAY FOR INSTEAD OF SENDING 394 00:11:16,309 --> 00:11:17,810 SOMETHING TO SOME FAR FLUNG 395 00:11:17,810 --> 00:11:19,412 PLACE TO DO INTERNATIONAL 396 00:11:19,412 --> 00:11:19,612 COVERAGE. 397 00:11:19,612 --> 00:11:21,514 >> I'M NOT SO SURE THAT'S TRUE, 398 00:11:21,514 --> 00:11:23,116 I THINK IT'S VERY HARD TO SORT 399 00:11:23,116 --> 00:11:24,317 OF FIGURE OUT THAT EQUATION, 400 00:11:24,317 --> 00:11:26,019 BECAUSE IF YOU'RE WRITING ABOUT 401 00:11:26,019 --> 00:11:27,020 NATIONAL AND INTERNATIONAL 402 00:11:27,020 --> 00:11:28,621 STORIES, YOU'RE REACHING A 403 00:11:28,621 --> 00:11:29,923 NATIONAL AND INTERNATIONAL 404 00:11:29,923 --> 00:11:32,325 AUDIENCE, AND SO, YEAH, SURE, 405 00:11:32,325 --> 00:11:34,527 IT'S MORE EXPENSIVE TO DO ANY 406 00:11:34,527 --> 00:11:35,628 ONE PARTICULAR STORY, 407 00:11:35,628 --> 00:11:37,130 PARTICULARLY IF YOU HAVE TO DO A 408 00:11:37,130 --> 00:11:38,831 LOT OF TRAVEL BUT WHAT YOU GET 409 00:11:38,831 --> 00:11:40,533 OUT OF IT IS MORE LIKELY A 410 00:11:40,533 --> 00:11:44,871 LARGER AUDIENCE, SO -- I DON'T 411 00:11:44,871 --> 00:11:48,174 KNOW WHAT THE EXACT SPLIT SHOULD 412 00:11:48,174 --> 00:11:49,175 BE, I DON'T KNOW IF ANYONE 413 00:11:49,175 --> 00:11:49,676 KNOWS. 414 00:11:49,676 --> 00:11:50,577 FOR "THE WASHINGTON POST" WE 415 00:11:50,577 --> 00:11:51,578 NEED TO DO ALL OF THAT. 416 00:11:51,578 --> 00:11:53,479 >> THERE'S METRO AND LOCAL IN 417 00:11:53,479 --> 00:11:58,184 THE CONVENTIONAL SENSE COVERING 418 00:11:58,184 --> 00:11:59,686 VIRGINIA, MARYLAND AND ALL OF 419 00:11:59,686 --> 00:12:01,387 THAT, POLITICS IN THE NATION'S 420 00:12:01,387 --> 00:12:04,090 CAPITAL SINCE IS KIND OF LOCAL 421 00:12:04,090 --> 00:12:05,091 FOR YOU TOO. 422 00:12:05,091 --> 00:12:06,893 IT SEEMS LIKE IF YOU DIDN'T OWN 423 00:12:06,893 --> 00:12:08,895 THAT SPACE OR COOWN IT WITH SOME 424 00:12:08,895 --> 00:12:10,697 OTHER FOLKS, IT WOULD BE A REAL 425 00:12:10,697 --> 00:12:11,097 FAILING. 426 00:12:11,097 --> 00:12:12,599 HOW DO YOU THINK YOU'VE DONE IN 427 00:12:12,599 --> 00:12:14,200 TERMS OF COVERING NATIONAL 428 00:12:14,200 --> 00:12:16,603 POLITICS, COVERING THE CAPITOL, 429 00:12:16,603 --> 00:12:17,704 IT IS LOCAL FOR YOU. 430 00:12:17,704 --> 00:12:20,106 >> I THINK WE'VE DONE WELL, I 431 00:12:20,106 --> 00:12:21,207 THINK WE HAVE A TREMENDOUS 432 00:12:21,207 --> 00:12:22,609 POLITICAL STAFF AT THE POST, I 433 00:12:22,609 --> 00:12:23,710 THINK THEY'VE DONE A LOT OF THE 434 00:12:23,710 --> 00:12:25,011 DEFINING STORIES IN THE NATION'S 435 00:12:25,011 --> 00:12:26,813 CAPITAL, THE N.S.A. IS AN 436 00:12:26,813 --> 00:12:27,513 EXAMPLE OF THAT. 437 00:12:27,513 --> 00:12:29,816 THE SINGLE BIGGEST POLITICAL -- 438 00:12:29,816 --> 00:12:31,117 ONE OF THE BIGGEST POLITICAL 439 00:12:31,117 --> 00:12:32,418 TOPICS IN THE COUNTRY OVER THE 440 00:12:32,418 --> 00:12:34,120 LAST YEAR HAS BEEN THE ISSUE OF 441 00:12:34,120 --> 00:12:35,722 SECURITY VERSUS PRIVACY AS A 442 00:12:35,722 --> 00:12:37,724 RESULT OF THE N.S.A. 443 00:12:37,724 --> 00:12:38,224 DISCLOSURES. 444 00:12:38,224 --> 00:12:38,725 >> YEP. 445 00:12:38,725 --> 00:12:40,627 >> AND WE HAVE BEEN AT THE FRONT 446 00:12:40,627 --> 00:12:41,728 OF THAT STORY. 447 00:12:41,728 --> 00:12:43,730 WE'VE BEEN DRIVING THAT STORY. 448 00:12:43,730 --> 00:12:46,866 AND -- AND NOBODY -- AND THERE'S 449 00:12:46,866 --> 00:12:49,068 ONLY ONE OTHER MEDIA 450 00:12:49,068 --> 00:12:49,769 ORGANIZATION THAT HAS BEEN IN 451 00:12:49,769 --> 00:12:50,069 THERE. 452 00:12:50,069 --> 00:12:50,970 >> AND THAT WOULD BE THE 453 00:12:50,970 --> 00:12:51,471 GUARDIAN. 454 00:12:51,471 --> 00:12:52,872 >> THAT WOULD BE THE GUARDIAN. 455 00:12:52,872 --> 00:12:54,073 AS YOU SAID EARLIER, COMPETITION 456 00:12:54,073 --> 00:12:56,376 IS NOW GREATER, MORE PEOPLE TO 457 00:12:56,376 --> 00:12:57,877 ELBOW OUT OF THE WAY, SOME OF 458 00:12:57,877 --> 00:12:59,078 THAT IS THE FOLKS YOU'VE BEEN 459 00:12:59,078 --> 00:13:00,480 COMPETING WITH INSTITUTIONALLY, 460 00:13:00,480 --> 00:13:01,981 NOT MAYBE YOU BUT THE POST FOR 461 00:13:01,981 --> 00:13:03,383 SOME TIME, THERE ARE NEW PEOPLE 462 00:13:03,383 --> 00:13:04,584 THAT HAVE COME ON THE SCENE, 463 00:13:04,584 --> 00:13:06,185 SOME OF THEM HAVE BEEN PEOPLE 464 00:13:06,185 --> 00:13:07,587 WHO HAVE A WASHINGTON POST 465 00:13:07,587 --> 00:13:09,288 LINEAGE, I'M THINKING 466 00:13:09,288 --> 00:13:11,591 PRINCIPALLY OF IMPLICIT CO, THE 467 00:13:11,591 --> 00:13:13,893 FOUNDERS WERE PEOPLE THAT HAD 468 00:13:13,893 --> 00:13:14,894 COME FROM THE POST, THEY HAD 469 00:13:14,894 --> 00:13:15,995 COME TO THE OWNERSHIP OF THE 470 00:13:15,995 --> 00:13:17,296 POST AT THE TIME AND SAID WE 471 00:13:17,296 --> 00:13:18,798 WOULD LIKE TO DO THIS UNDER THE 472 00:13:18,798 --> 00:13:21,401 POST UMBRELLA, THEY WERE TOLD 473 00:13:21,401 --> 00:13:23,102 MAYBE NOT, SO HOW MUCH HAS THE 474 00:13:23,102 --> 00:13:27,507 ARRIVAL OF FOLKS LIKE POLITICO 475 00:13:27,507 --> 00:13:31,010 ON THE SCENE MADE YOUR JOB 476 00:13:31,010 --> 00:13:32,412 DIFFERENT, MAYBE IT'S IMPROVED 477 00:13:32,412 --> 00:13:32,912 IT -- 478 00:13:32,912 --> 00:13:34,113 >> I DO LIKE COMPETITION. 479 00:13:34,113 --> 00:13:36,416 I THINK IT MAKES US BETTER. 480 00:13:36,416 --> 00:13:37,617 I'M IN FAVOR OF COMPETITION. 481 00:13:37,617 --> 00:13:39,619 SO, BUT THE FACT IS I WASN'T 482 00:13:39,619 --> 00:13:40,019 THERE -- 483 00:13:40,019 --> 00:13:40,620 >> AT THE TIME. 484 00:13:40,620 --> 00:13:42,522 >> AT THE TIME, SO I'M A 485 00:13:42,522 --> 00:13:44,357 NEWCOMETOR THE POST, BUT THE 486 00:13:44,357 --> 00:13:46,259 FACT IS IF YOU ACTUALLY LOOK AT 487 00:13:46,259 --> 00:13:47,860 WHAT PEOPLE READ IN WASHINGTON, 488 00:13:47,860 --> 00:13:49,462 THEY READ "THE WASHINGTON POST", 489 00:13:49,462 --> 00:13:50,763 THE PERCENTAGE OF THE PEOPLE WHO 490 00:13:50,763 --> 00:13:54,267 READ POLITICO IS ACTUALLY 491 00:13:54,267 --> 00:13:56,069 RELATIVELY SMALL, IF YOU LOOK IN 492 00:13:56,069 --> 00:13:57,270 THE FEDERAL GOVERNMENT AT THE 493 00:13:57,270 --> 00:13:58,571 NUMBER OF PEOPLE WHO READ US 494 00:13:58,571 --> 00:14:02,375 VERSUS THE -- READ POLITICO, WE 495 00:14:02,375 --> 00:14:03,676 OVERWHELM THEM, SO WE HAVE A 496 00:14:03,676 --> 00:14:06,079 BIGGER PREFERENCE IN COVERING 497 00:14:06,079 --> 00:14:07,180 GOVERNMENT AND MORE PEOPLE ARE 498 00:14:07,180 --> 00:14:07,880 READING US. 499 00:14:07,880 --> 00:14:10,183 THEY'RE RELATIVELY SMALL SITE BY 500 00:14:10,183 --> 00:14:11,284 COMPARISON WITH US, THEY HAVE 501 00:14:11,284 --> 00:14:13,486 SOMETHING LIKE 6 MILLION UNIQUE 502 00:14:13,486 --> 00:14:14,787 VISITORS, WHEN YOU LOOK AT 503 00:14:14,787 --> 00:14:17,190 MOBILE USERS PLUS DESK TOP USERS 504 00:14:17,190 --> 00:14:19,192 PER MONTH, SIX TO SEVEN MILLION 505 00:14:19,192 --> 00:14:20,293 DEPENDING ON THE MONTH. 506 00:14:20,293 --> 00:14:22,295 IT GOES UP DURING A PRESIDENTIAL 507 00:14:22,295 --> 00:14:23,696 ELECTION YEAR, BUT FALLS 508 00:14:23,696 --> 00:14:25,498 DRAMATICALLY IN NONPRESIDENTIAL 509 00:14:25,498 --> 00:14:26,899 ELECTION YEARS, WE HAVE 510 00:14:26,899 --> 00:14:28,701 30 MILLION UNIQUE VISITORS THAT 511 00:14:28,701 --> 00:14:30,903 COME TO OUR SITE PER MONTH, 512 00:14:30,903 --> 00:14:32,805 WE'RE ABOUT FOUR TO FIVE TIMES 513 00:14:32,805 --> 00:14:35,007 THEIR SIZE IN ANY MONTH. 514 00:14:35,007 --> 00:14:36,509 >> THIS QUESTION BEFORE, IT 515 00:14:36,509 --> 00:14:37,210 SEEMS LIKE -- 516 00:14:37,210 --> 00:14:39,011 >> I'VE CERTAINLY ANTICIPATED 517 00:14:39,011 --> 00:14:40,913 THIS QUESTION BEFORE, AND -- AND 518 00:14:40,913 --> 00:14:43,116 THE FACT IS I THINK SOMETIMES IT 519 00:14:43,116 --> 00:14:45,518 HELPS NOT JUST TO LISTEN TO THE 520 00:14:45,518 --> 00:14:48,821 RHETORIC AND THE BOASTING BUT IT 521 00:14:48,821 --> 00:14:50,123 ALSO HELPS TO LOOK AT THE FACTS. 522 00:14:50,123 --> 00:14:50,923 >> RIGHT. 523 00:14:50,923 --> 00:14:53,025 ANOTHER SOON TO BE COMPETITOR OF 524 00:14:53,025 --> 00:14:55,027 SORTS IS COMING FROM WITHIN YOUR 525 00:14:55,027 --> 00:14:56,829 SHOP AND ACTUALLY THIS ONE YOU 526 00:14:56,829 --> 00:14:58,531 WERE RUNNING THE PAPER, AND THAT 527 00:14:58,531 --> 00:15:02,435 IS THE EZRA KLEIN VERTICAL THAT 528 00:15:02,435 --> 00:15:03,436 HAS BEEN CREATED. 529 00:15:03,436 --> 00:15:04,937 I'M FASCINATED HOW THE BUSINESS 530 00:15:04,937 --> 00:15:07,039 THAT WE'RE IN AS EVOLVED OVER 531 00:15:07,039 --> 00:15:08,641 TIME, IT USED TO BE THE ONLY 532 00:15:08,641 --> 00:15:10,143 BRAND THAT MATTERED WERE THE 533 00:15:10,143 --> 00:15:13,146 INSTITUTIONAL BRAND, NOW THE 534 00:15:13,146 --> 00:15:14,847 INDIVIDUAL BRANDS THESE DAYS 535 00:15:14,847 --> 00:15:16,048 HAVE BEEN MORE LIKE ROCKET 536 00:15:16,048 --> 00:15:17,750 BOOSTERS FOR THE INSTITUTIONAL 537 00:15:17,750 --> 00:15:19,252 BRANDS, SOME INDIVIDUAL BRANDS 538 00:15:19,252 --> 00:15:21,654 LIKE EZRA WANT TO BE ROCKETS ON 539 00:15:21,654 --> 00:15:24,257 TO THEMSELVES, EZRA KLEIN 540 00:15:24,257 --> 00:15:26,859 SOMEWHAT FAMOUSLY CAME TO THE 541 00:15:26,859 --> 00:15:29,962 POST AND SAY I WANT TO START MY 542 00:15:29,962 --> 00:15:31,464 VERTICAL, HE LEFT, PEOPLE LEFT 543 00:15:31,464 --> 00:15:32,465 WITH HIM, TALK ABOUT HOW YOU 544 00:15:32,465 --> 00:15:33,366 THINK ABOUT THAT FROM A 545 00:15:33,366 --> 00:15:34,967 COMPETITIVE STANDPOINT, I GUESS 546 00:15:34,967 --> 00:15:36,469 IT'S EARLY TO TELL. 547 00:15:36,469 --> 00:15:37,670 >> LET ME CORRECT YOU, FIRST OF 548 00:15:37,670 --> 00:15:39,672 ALL. HE DID NOT COME TO US AND 549 00:15:39,672 --> 00:15:41,274 SAY I WANT TO START MY OWN 550 00:15:41,274 --> 00:15:42,175 VERTICAL IN THE PAPER. 551 00:15:42,175 --> 00:15:44,710 HE ALREADY HAD STARTED HIS OWN 552 00:15:44,710 --> 00:15:46,112 VERTICAL IN THE PAPER WHICH WE 553 00:15:46,112 --> 00:15:47,213 FUNDED TO THE TUNE OF MILLIONS 554 00:15:47,213 --> 00:15:48,815 OF DOLLARS PER YEAR. 555 00:15:48,815 --> 00:15:51,517 I'M NOT SURE OF A LOT OF PEOPLE 556 00:15:51,517 --> 00:15:52,919 HEARD OF EZRA KLEIN BEFORE HE 557 00:15:52,919 --> 00:15:54,020 WAS WORKING AT THE WASHINGTON 558 00:15:54,020 --> 00:15:55,421 POST AND WE FUNDED THAT 559 00:15:55,421 --> 00:15:56,022 OPERATION. 560 00:15:56,022 --> 00:15:57,523 VERY TALENTED GUY. 561 00:15:57,523 --> 00:15:59,325 WE INVESTED IN THAT, WE'RE 562 00:15:59,325 --> 00:16:02,028 INVESTING EVEN MORE IN THAT. 563 00:16:02,028 --> 00:16:04,030 THERE ISN'T ONE THING THAT WE 564 00:16:04,030 --> 00:16:06,532 REQUESTED FOR THAT EVENT VENTURE 565 00:16:06,532 --> 00:16:08,434 THAT WE DID NOT FUND INCLUDING 566 00:16:08,434 --> 00:16:09,635 2014. 567 00:16:09,635 --> 00:16:11,237 IT WAS NOT TO SAY I WANT TO 568 00:16:11,237 --> 00:16:12,138 START A VERTICAL INSIDE "THE 569 00:16:12,138 --> 00:16:14,140 WASHINGTON POST", WHAT HE SAID 570 00:16:14,140 --> 00:16:16,242 IS I INTEND TO START A VENTURE 571 00:16:16,242 --> 00:16:16,642 OUTSIDE OF "THE WASHINGTON 572 00:16:16,642 --> 00:16:18,044 POST", TOTALLY INDEPENDENT, THIS 573 00:16:18,044 --> 00:16:20,346 HAS NOTHING WHATSOEVER TO DO 574 00:16:20,346 --> 00:16:21,147 WITH "THE WASHINGTON POST", I 575 00:16:21,147 --> 00:16:22,548 WILL BE THE CEO, I WILL BE THE 576 00:16:22,548 --> 00:16:23,950 PRESIDENT, I WILL BE THE EDITOR 577 00:16:23,950 --> 00:16:24,851 IN CHIEF. 578 00:16:24,851 --> 00:16:27,353 I WILL SELECT THE TECHNOLOGY -- 579 00:16:27,353 --> 00:16:29,155 THE TECHNOLOGY THAT'S USED AND I 580 00:16:29,155 --> 00:16:30,456 WILL SELECT THE ADVERTISING. 581 00:16:30,456 --> 00:16:31,958 I WILL BE IN CHARGE OF THE 582 00:16:31,958 --> 00:16:33,559 ADVERTISING AS WELL, AND WHAT I 583 00:16:33,559 --> 00:16:35,661 WOULD LIKE TO KNOW IS WHETHER 584 00:16:35,661 --> 00:16:39,165 JEFF BEZOS WOULD BE WILLING TO 585 00:16:39,165 --> 00:16:39,765 FUND THAT. 586 00:16:39,765 --> 00:16:40,967 THAT'S WHAT HAPPENED, NOT I WANT 587 00:16:40,967 --> 00:16:42,869 TO START SOMETHING OR EXPAND 588 00:16:42,869 --> 00:16:44,403 SOMETHING WITHIN THE UMBRELLA OF 589 00:16:44,403 --> 00:16:44,804 "THE WASHINGTON POST". 590 00:16:44,804 --> 00:16:46,706 >> OF COURSE THE PERCEPTION OUT 591 00:16:46,706 --> 00:16:48,407 IN THE WORLD IS THAT SOMEHOW YOU 592 00:16:48,407 --> 00:16:50,109 LET HIM GO, BUT THE REALITY IT 593 00:16:50,109 --> 00:16:51,110 SOUNDS LIKE FROM YOUR 594 00:16:51,110 --> 00:16:52,211 DESCRIPTION, HE WAS PLANNING TO 595 00:16:52,211 --> 00:16:55,014 GO ANYWAY, IT WAS A QUESTION -- 596 00:16:55,014 --> 00:16:56,716 >> IT PAINS ME TO SAY THIS, SOME 597 00:16:56,716 --> 00:16:57,917 TIMES THE REPORTING IS NOT 598 00:16:57,917 --> 00:16:58,317 ACCURATE. 599 00:16:58,317 --> 00:16:59,018 [ LAUGHTER ] 600 00:16:59,018 --> 00:17:00,820 SO THAT WAS NOT -- THAT WAS NOT 601 00:17:00,820 --> 00:17:02,922 ACCURATE REPORTING. 602 00:17:02,922 --> 00:17:06,225 IT LEFT A GROSS MISIMPRESSION. 603 00:17:06,225 --> 00:17:07,727 HE DID NOT ASK TO DO ANYTHING, 604 00:17:07,727 --> 00:17:09,328 THE FIRST PERSON HE CAME TO AT A 605 00:17:09,328 --> 00:17:10,730 SENIOR LEVEL WAS ME, THE FIRST 606 00:17:10,730 --> 00:17:12,832 THING HE SAID, I WANT TO START A 607 00:17:12,832 --> 00:17:14,033 NEWS ORGANIZATION INDEPENDENT OF 608 00:17:14,033 --> 00:17:16,435 THE WASHINGTON POST, MY OWN NEWS 609 00:17:16,435 --> 00:17:17,236 ORGANIZATION AND WHAT I WOULD 610 00:17:17,236 --> 00:17:19,238 LIKE TO KNOW IS WHETHER JEFF 611 00:17:19,238 --> 00:17:21,340 BEZOS IS WILLING TO FUND THIS. 612 00:17:21,340 --> 00:17:23,442 JEFF BEZOS HAD INVESTED 613 00:17:23,442 --> 00:17:24,243 $250 MILLION IN THE WASHINGTON 614 00:17:24,243 --> 00:17:25,745 POST WITH THE INTENTION OF 615 00:17:25,745 --> 00:17:27,847 INVESTING EVEN MORE IN IT AS HE 616 00:17:27,847 --> 00:17:28,948 IS DOING THIS YEAR. 617 00:17:28,948 --> 00:17:30,449 HE ALSO HAS AN INVESTMENT IN 618 00:17:30,449 --> 00:17:31,751 BUSINESS INSIDER, AND HE'S 619 00:17:31,751 --> 00:17:35,254 INCREASED HIS INVESTMENT IN THE 620 00:17:35,254 --> 00:17:37,857 BUSINESS INSIDER. 621 00:17:37,857 --> 00:17:40,760 IT'S UP TO JEFF BEZOS IF HE 622 00:17:40,760 --> 00:17:42,161 WANTS TO INVEST IN SOMETHING 623 00:17:42,161 --> 00:17:42,862 ELSE. 624 00:17:42,862 --> 00:17:44,196 THE TRUTH IS, I DON'T HAVE A 625 00:17:44,196 --> 00:17:45,998 VENTURE CAPITAL FUND AVAILABLE 626 00:17:45,998 --> 00:17:48,100 TO ME, I HAVE MY NEWSROOM 627 00:17:48,100 --> 00:17:49,802 BUDGET, WHEN SOMEBODY COMES AND 628 00:17:49,802 --> 00:17:51,203 SAYS I WOULD LIKE TO START THIS 629 00:17:51,203 --> 00:17:53,105 AND THE AMOUNT OF MONEY REQUIRED 630 00:17:53,105 --> 00:17:55,408 IS 10% OF WHAT MY NEWSROOM 631 00:17:55,408 --> 00:17:57,209 BUDGET IS, I'M NOT ABLE TO FUND 632 00:17:57,209 --> 00:17:58,511 THAT, THE OWNER OF THE COMPANY, 633 00:17:58,511 --> 00:18:01,113 THE PERSON WHO OWNS 100% OF THE 634 00:18:01,113 --> 00:18:02,615 COMPANY IS THE ONLY PERSON WHO 635 00:18:02,615 --> 00:18:03,916 CAN MAKE THAT DECISION, AND AS I 636 00:18:03,916 --> 00:18:05,818 SAID, IT WAS NEVER HIS INTENTION 637 00:18:05,818 --> 00:18:07,219 TO START WITHIN "THE WASHINGTON 638 00:18:07,219 --> 00:18:08,721 POST", IT WAS ALWAYS HIS 639 00:18:08,721 --> 00:18:09,622 INTENTION TO START OUTSIDE "THE 640 00:18:09,622 --> 00:18:10,122 WASHINGTON POST". 641 00:18:10,122 --> 00:18:11,424 >> SO LET ME REFRAME THE 642 00:18:11,424 --> 00:18:11,724 QUESTION. 643 00:18:11,724 --> 00:18:13,326 YOU KNOW, I THINK OF THIS AS THE 644 00:18:13,326 --> 00:18:16,028 EZRA KLEINING OF JOURNALISM, NOW 645 00:18:16,028 --> 00:18:17,229 EVERYBODY WANTS TO BE THEIR OWN 646 00:18:17,229 --> 00:18:19,432 ENTITIES OR A LOT OF PEOPLE DO. 647 00:18:19,432 --> 00:18:21,233 IS THIS A GOOD THING FOR OUR 648 00:18:21,233 --> 00:18:24,737 BUSINESS OR BAD THING. 649 00:18:24,737 --> 00:18:26,439 >> I THINK IT'S ACTUALLY A GOOD 650 00:18:26,439 --> 00:18:27,740 THING FOR THE BUSINESS. 651 00:18:27,740 --> 00:18:29,442 I THINK IT'S A SIGN OF HEALTH, 652 00:18:29,442 --> 00:18:29,742 ACTUALLY. 653 00:18:29,742 --> 00:18:31,644 I THINK, YOU KNOW, MORE POWER TO 654 00:18:31,644 --> 00:18:33,045 HIM, I WISH HIM THE BEST OF 655 00:18:33,045 --> 00:18:33,346 LUCK. 656 00:18:33,346 --> 00:18:35,247 I HAVE, YOU KNOW, IT'S FINE, THE 657 00:18:35,247 --> 00:18:37,650 FACT IS THERE'S NOW CAPITAL TO 658 00:18:37,650 --> 00:18:40,252 START ENTREPRENEURIAL VENTURES 659 00:18:40,252 --> 00:18:41,554 IN THE MEDIA INDUSTRY, THAT'S 660 00:18:41,554 --> 00:18:42,555 NOT A BAD THING FROM, THE 661 00:18:42,555 --> 00:18:43,456 STANDPOINT OF THE INFORMATION 662 00:18:43,456 --> 00:18:44,890 CONSUMER, THAT'S A GOOD THING, 663 00:18:44,890 --> 00:18:48,294 SO I DON'T BEGRUDGE ANYBODY THAT 664 00:18:48,294 --> 00:18:49,495 OPPORTUNITY F. HE HAS THE 665 00:18:49,495 --> 00:18:50,696 ENTREPRENEURIAL ITCH, HE WANTS 666 00:18:50,696 --> 00:18:53,699 TO DO IT, TRY IT, FIND FUNDING, 667 00:18:53,699 --> 00:18:55,601 WHICH HE HAS, MORE POWER TO HIM, 668 00:18:55,601 --> 00:18:55,801 THAT'S GREAT. 669 00:18:55,801 --> 00:18:57,003 I THINK THAT'S A SIGN OF HEALTH 670 00:18:57,003 --> 00:18:58,504 IN OUR INDUSTRY, RATHER THAN ANY 671 00:18:58,504 --> 00:19:05,311 OTHER SIGN OF DYSFUNCTION. 672 00:19:05,311 --> 00:19:07,513 HE'S HIRING YOUNG PEOPLE IN 673 00:19:07,513 --> 00:19:08,814 PARTICULAR, AND GREAT, THAT'S 674 00:19:08,814 --> 00:19:10,016 OPPORTUNITY FOR THOSE PEOPLE, 675 00:19:10,016 --> 00:19:11,917 AND THEY WILL BRING THEIR OWN 676 00:19:11,917 --> 00:19:13,219 PERSONALITY TO COVERAGE OF THE 677 00:19:13,219 --> 00:19:15,721 NEWS AND PUBLIC POLICY, AND 678 00:19:15,721 --> 00:19:17,323 THAT'S -- THAT'S FANTASTIC, BUT 679 00:19:17,323 --> 00:19:19,925 WHAT HE'S DOING THERE, HE AND 680 00:19:19,925 --> 00:19:21,327 MANY OF HIS PEOPLE WERE DOING AT 681 00:19:21,327 --> 00:19:22,328 THE WASHINGTON POST. 682 00:19:22,328 --> 00:19:24,830 >> THE BLOG CONTINUES. 683 00:19:24,830 --> 00:19:27,533 >> THE BLOG CONTINUES, WE HAVE 684 00:19:27,533 --> 00:19:29,035 GOV FEED, WE HAVE THE FIX FOR 685 00:19:29,035 --> 00:19:31,837 POLITICS, WE HAVE WORLD VIEWS 686 00:19:31,837 --> 00:19:34,740 FOR INTERNATIONAL AFFAIRS, WE'RE 687 00:19:34,740 --> 00:19:36,342 STARTING NEW PUBLIC POLICY 688 00:19:36,342 --> 00:19:38,044 BLOGS, SO ALL OF THAT REMAINS A 689 00:19:38,044 --> 00:19:41,747 VIBRANT AREA OF COVERAGE FOR US, 690 00:19:41,747 --> 00:19:43,349 IT'S SOMETHING HE DID WHEN HE 691 00:19:43,349 --> 00:19:44,884 WAS AT THE WASHINGTON POST. 692 00:19:44,884 --> 00:19:46,185 SOME OF HIS COLLEAGUES WERE 693 00:19:46,185 --> 00:19:47,086 DOING AT THE WASHINGTON POST AND 694 00:19:47,086 --> 00:19:47,987 IT'S SOMETHING THAT WE CONTINUE 695 00:19:47,987 --> 00:19:49,689 TO DO AND ACTUALLY EXPAND UPON. 696 00:19:49,689 --> 00:19:52,892 >> MR. BEZOS' NAME HAS COME UP A 697 00:19:52,892 --> 00:19:54,193 COUPLE OF TIMES, LET ME GO 698 00:19:54,193 --> 00:19:54,393 THERE. 699 00:19:54,393 --> 00:19:55,995 THE JOKE -- YOU KNOW, IT 700 00:19:55,995 --> 00:19:57,496 SHOULDN'T SURPRISE YOU, AGAIN. 701 00:19:57,496 --> 00:19:58,698 >> I'M SHOCKED. 702 00:19:58,698 --> 00:19:59,999 >> THE FACT OF HIS OWNERSHIP OF 703 00:19:59,999 --> 00:20:02,401 THE POST IS OF SOME CURIOSITY TO 704 00:20:02,401 --> 00:20:04,603 PEOPLE OF THE WORLD WE LIVE IN, 705 00:20:04,603 --> 00:20:05,704 AND OUTSIDE THE WORLD THAT WE 706 00:20:05,704 --> 00:20:07,406 LIVE, IN THE JOKES ARE MADE, THE 707 00:20:07,406 --> 00:20:09,208 PAPER WILL NOW BE DELIVERED BY 708 00:20:09,208 --> 00:20:11,010 DRONES OR CHRISTMAS BONUSES WILL 709 00:20:11,010 --> 00:20:16,215 COME TO PEOPLE'S HOUSES IN TWO 710 00:20:16,215 --> 00:20:17,516 DAY, FREE SHIPPING. 711 00:20:17,516 --> 00:20:19,218 PUTTING ALL THAT STUFF TO THE 712 00:20:19,218 --> 00:20:21,420 SIDE, YOU WORKED FOR THE 713 00:20:21,420 --> 00:20:26,525 SULZBERGER'S, THEY'RE NOT 714 00:20:26,525 --> 00:20:27,426 EXACTLY PAUPERS. 715 00:20:27,426 --> 00:20:28,527 WHAT IS THE DIFFERENCE IN 716 00:20:28,527 --> 00:20:30,830 WORKING FOR MR. BEZOS FROM WHAT 717 00:20:30,830 --> 00:20:33,933 YOU CAN TELL THAN THE FOLKS YOU 718 00:20:33,933 --> 00:20:35,434 WORKED FOR PREVIOUSLY OR DOES 719 00:20:35,434 --> 00:20:37,236 THE OWNERSHIP ENTER INTO THE 720 00:20:37,236 --> 00:20:39,538 OCCASION DESPITE HIS LARGE 721 00:20:39,538 --> 00:20:39,638 BRAND. 722 00:20:39,638 --> 00:20:41,340 >> I THINK OWNERSHIP MAKES A 723 00:20:41,340 --> 00:20:42,541 DIFFERENCE WITH RESPECT TO OUR 724 00:20:42,541 --> 00:20:43,742 PRESENT CIRCUMSTANCES. 725 00:20:43,742 --> 00:20:45,778 HE IS VERY INTERESTED IN OUR 726 00:20:45,778 --> 00:20:48,280 FUTURE, HE SEES ENORMOUS VALUE 727 00:20:48,280 --> 00:20:49,181 IN THE BRAND OF THE WASHINGTON 728 00:20:49,181 --> 00:20:50,783 POST, CORRECTLY IN MY VIEW. 729 00:20:50,783 --> 00:20:52,985 HE IS MAKING SUBSTANTIAL 730 00:20:52,985 --> 00:20:53,586 INVESTMENTS. 731 00:20:53,586 --> 00:20:55,087 WE HAVE STARTED ALL SORTS OF 732 00:20:55,087 --> 00:20:56,989 INITIATIVES, WE'RE HIRING IN THE 733 00:20:56,989 --> 00:20:59,391 NEWS ROOM ALONE, THREE DOZEN 734 00:20:59,391 --> 00:21:00,793 PEOPLE, THAT DOESN'T INCLUDE 735 00:21:00,793 --> 00:21:02,294 PEOPLE IN THE TECHNOLOGY AREA. 736 00:21:02,294 --> 00:21:05,197 >> SINCE HE ARRIVED. 737 00:21:05,197 --> 00:21:08,000 NOT PLAN IN PLACE PREVIOUS. 738 00:21:08,000 --> 00:21:09,401 >> THAT'S CORRECT. 739 00:21:09,401 --> 00:21:11,904 SO ALL OF THAT IS POSITIVE, HE'S 740 00:21:11,904 --> 00:21:14,206 VERY MUCH A PERSON WHO IS A 741 00:21:14,206 --> 00:21:15,007 STRATEGIC THINKER. 742 00:21:15,007 --> 00:21:16,408 HE UNDERSTANDS THE TECHNOLOGY 743 00:21:16,408 --> 00:21:17,309 PERHAPS BETTER THAN ANYBODY IN 744 00:21:17,309 --> 00:21:18,310 THE WORLD. 745 00:21:18,310 --> 00:21:20,212 HE UNDERSTANDS CONSUMERS, 746 00:21:20,212 --> 00:21:22,014 EXTREMELY WELL, THAT'S AN 747 00:21:22,014 --> 00:21:24,216 IMPORTANT PART OF IT TOO, IT'S 748 00:21:24,216 --> 00:21:26,318 NOT JUST A TECHNOLOGICAL PLAY, 749 00:21:26,318 --> 00:21:28,120 UNDERSTANDING WHAT THE CONSUMER 750 00:21:28,120 --> 00:21:28,420 WANTS. 751 00:21:28,420 --> 00:21:28,921 >> AUDIENCE. 752 00:21:28,921 --> 00:21:31,123 >> UNDERSTANDING WHAT CONSUMERS. 753 00:21:31,123 --> 00:21:33,025 >> CONSUMERS IN HIS CASE ARE 754 00:21:33,025 --> 00:21:33,626 AUDIENCE. 755 00:21:33,626 --> 00:21:37,029 >> BUT AUDIENCE SUGGESTS SORT OF 756 00:21:37,029 --> 00:21:38,430 AN US DELIVERING TO THEM, 757 00:21:38,430 --> 00:21:40,633 CONSUMER SAYS IT'S THE FOCUS ON 758 00:21:40,633 --> 00:21:42,034 WHAT ARE THEY REALLY INTERESTED 759 00:21:42,034 --> 00:21:42,134 IN. 760 00:21:42,134 --> 00:21:44,370 >> BUT HIS INNOVATION IN AMAZON 761 00:21:44,370 --> 00:21:46,272 HAS BEEN AMONG OTHER THINGS TO 762 00:21:46,272 --> 00:21:47,773 FIGURE OUT HOW TO CONNECT TO 763 00:21:47,773 --> 00:21:48,574 PEOPLE WHO ARE POTENTIAL 764 00:21:48,574 --> 00:21:49,175 CONSUMERS. 765 00:21:49,175 --> 00:21:49,575 >> RIGHT. 766 00:21:49,575 --> 00:21:51,377 >> AND ONE OF THE THINGS IN THE 767 00:21:51,377 --> 00:21:53,279 NEWSPAPER BUSINESS, IT WRESTLES 768 00:21:53,279 --> 00:21:55,781 WITH THIS AUDIENCE, HOW DO YOU 769 00:21:55,781 --> 00:21:57,082 REACH PEOPLE IN THIS CURRENT 770 00:21:57,082 --> 00:21:58,884 ENVIRONMENT, HIS SUCCESS AT THAT 771 00:21:58,884 --> 00:22:01,086 CAN BE TRANSLATED ONE HOPES -- 772 00:22:01,086 --> 00:22:02,388 >> DIFFERENT BUSINESS THAN 773 00:22:02,388 --> 00:22:04,890 SELLING BOOKS AND SELLING VACUUM 774 00:22:04,890 --> 00:22:07,092 CLEANERS AND SELLING ALL OF THE 775 00:22:07,092 --> 00:22:07,993 THINGS THAT ARE AVAILABLE ON 776 00:22:07,993 --> 00:22:09,295 AMAZON, WHICH IS ESSENTIALLY 777 00:22:09,295 --> 00:22:09,495 EVERYTHING. 778 00:22:09,495 --> 00:22:09,995 >> RIGHT. 779 00:22:09,995 --> 00:22:11,897 >> BUT IT'S DIFFERENT IN A 780 00:22:11,897 --> 00:22:14,200 CERTAIN WAY, BUT HE DOES BRING 781 00:22:14,200 --> 00:22:17,002 SORT OF NEW THINKING TO THAT, 782 00:22:17,002 --> 00:22:18,504 AND I THINK VERY SMART THINKING 783 00:22:18,504 --> 00:22:20,005 AND HE'S WILLING TO ASK 784 00:22:20,005 --> 00:22:21,507 PROVOCATIVE QUESTIONS AND 785 00:22:21,507 --> 00:22:22,908 CHALLENGE US, AND WILLING TO 786 00:22:22,908 --> 00:22:23,709 HAVE US CHALLENGE HIM. 787 00:22:23,709 --> 00:22:25,511 >> THE POST IS A LEGACY NEWS 788 00:22:25,511 --> 00:22:27,213 ORGANIZATION WHICH CAN BE USED 789 00:22:27,213 --> 00:22:28,814 AS A NEGATIVE DESCRIPTOR. 790 00:22:28,814 --> 00:22:31,217 I DON'T MEAN IT THAT WAY. 791 00:22:31,217 --> 00:22:33,018 I'VE BEEN AT THAT AWHILE, 792 00:22:33,018 --> 00:22:34,420 THERE'S OTHER NEWS ORGANIZATIONS 793 00:22:34,420 --> 00:22:35,621 THAT HAVE BEEN AT THIS LESS TIME 794 00:22:35,621 --> 00:22:37,723 AND DON'T HAVE THE SAME 795 00:22:37,723 --> 00:22:38,324 TRADITION THAT "THE WASHINGTON 796 00:22:38,324 --> 00:22:40,526 POST" HAS INFUSED IN THIS NEWS 797 00:22:40,526 --> 00:22:42,027 ROOM, AND I WONDER IF PEOPLE 798 00:22:42,027 --> 00:22:43,929 THERE, BELOW THE LEVEL OF MARTIN 799 00:22:43,929 --> 00:22:46,565 BARON ARE RESISTANT TO THE 800 00:22:46,565 --> 00:22:50,569 GUY -- IDEA OF THIS GUY WHO 801 00:22:50,569 --> 00:22:52,071 DOESN'T HAVE A JOURNALISTIC 802 00:22:52,071 --> 00:22:53,572 BACKGROUND, WHO BOUGHT THE 803 00:22:53,572 --> 00:22:55,774 PAPER, SUDDENLY BEING A FIGURE 804 00:22:55,774 --> 00:22:57,176 IN THEIR LIVES? 805 00:22:57,176 --> 00:22:59,578 HAS THERE BEEN ANY PUSH BACK 806 00:22:59,578 --> 00:23:00,179 AGAINST THIS. 807 00:23:00,179 --> 00:23:03,482 >> PEOPLE REVERE THE PREVIOUS 808 00:23:03,482 --> 00:23:05,084 OWNERSHIP, THE GRAHAM FAMILY, 809 00:23:05,084 --> 00:23:07,486 DON GRAHAM, PEOPLE REVERE THE 810 00:23:07,486 --> 00:23:10,089 FAMILY AND ITS ROLE IN THAT 811 00:23:10,089 --> 00:23:11,390 ORGANIZATION APPROPRIATELY SO. 812 00:23:11,390 --> 00:23:12,892 THEY BUILT AN INCREDIBLE 813 00:23:12,892 --> 00:23:13,692 ORGANIZATION. 814 00:23:13,692 --> 00:23:14,593 TALK ABOUT THE VALUE OF THE 815 00:23:14,593 --> 00:23:16,295 BRAND, THAT VALUE OF THE BRAND 816 00:23:16,295 --> 00:23:18,497 WOULDN'T EXIST WITHOUT THAT -- 817 00:23:18,497 --> 00:23:21,800 >> AS MUCH A GRAHAM BRAND AS IT 818 00:23:21,800 --> 00:23:22,501 WAS A POST BRAND. 819 00:23:22,501 --> 00:23:23,102 >> YEAH. 820 00:23:23,102 --> 00:23:24,403 ON THE OTHER HAND, DON GRAHAM 821 00:23:24,403 --> 00:23:26,605 HAS ADMITTED THEY WEREN'T QUITE 822 00:23:26,605 --> 00:23:28,207 SURE WHAT TO DO AT THIS POINT, 823 00:23:28,207 --> 00:23:29,708 THIS HAS BEEN A VERY DIFFICULT 824 00:23:29,708 --> 00:23:31,110 TIME IN OUR INDUSTRY, AND HE WAS 825 00:23:31,110 --> 00:23:32,912 TRYING TO FIND A BUYER WHO COULD 826 00:23:32,912 --> 00:23:34,613 BRING SOME NEW THINKING TO OUR 827 00:23:34,613 --> 00:23:37,116 INDUSTRY, AND I THINK THAT JEFF 828 00:23:37,116 --> 00:23:39,218 BEZOS DOES THAT, HAS DONE THAT, 829 00:23:39,218 --> 00:23:40,519 AND THAT'S A PLUS, HE ALSO 830 00:23:40,519 --> 00:23:41,921 BRINGS RESOURCES. 831 00:23:41,921 --> 00:23:43,222 HE BRINGS A LONG-TERM 832 00:23:43,222 --> 00:23:44,657 PERSPECTIVE, HE'S NOT LOOKING 833 00:23:44,657 --> 00:23:47,760 FOR A -- LET'S MAKE AN 834 00:23:47,760 --> 00:23:48,661 INVESTMENT IN THREE MONTHS THAT 835 00:23:48,661 --> 00:23:50,362 HAS TO PAY OFF OR EVEN WITHIN 836 00:23:50,362 --> 00:23:52,064 THE FIRST YEAR IT HAS TO PAY 837 00:23:52,064 --> 00:23:54,767 OFF, HE RECOGNIZES WE HAVE TO 838 00:23:54,767 --> 00:23:55,768 EXPERIMENT, HE'S TALKED ABOUT 839 00:23:55,768 --> 00:23:57,269 GIVING US RUNWAY, WHICH SUGGESTS 840 00:23:57,269 --> 00:23:58,170 A LONG-TERM HORIZON. 841 00:23:58,170 --> 00:24:00,172 >> IF YOU'RE A REPORTER AND YOU 842 00:24:00,172 --> 00:24:01,073 HEAR THEM TALKING ABOUT A 843 00:24:01,073 --> 00:24:03,375 LONG-TERM HORIZON, YOU'VE GOT TO 844 00:24:03,375 --> 00:24:05,077 THINK I FEEL MUCH BETTER ABOUT 845 00:24:05,077 --> 00:24:05,477 MY JOB. 846 00:24:05,477 --> 00:24:06,078 >> ABSOLUTELY. 847 00:24:06,078 --> 00:24:08,080 IT DOESN'T MEAN FOREVER, BUT IT 848 00:24:08,080 --> 00:24:09,481 DOES MEAN THAT WE HAVE TIME TO 849 00:24:09,481 --> 00:24:11,183 EXPERIMENT, WE HAVE TIME TO TRY 850 00:24:11,183 --> 00:24:12,584 THINGS, WE HAVE TIME TO LET 851 00:24:12,584 --> 00:24:13,986 THINGS SETTLE IN AND SEE WHAT WE 852 00:24:13,986 --> 00:24:14,486 CAN DO. 853 00:24:14,486 --> 00:24:15,287 >> YEAH. 854 00:24:15,287 --> 00:24:16,889 >> AND HE'S SUPPORTING THAT, AND 855 00:24:16,889 --> 00:24:18,791 I THINK PEOPLE ARE EMBRACING 856 00:24:18,791 --> 00:24:20,292 THAT, I HAVEN'T DETECTED ANY 857 00:24:20,292 --> 00:24:21,794 RESISTANCE TO THAT AT ALL. 858 00:24:21,794 --> 00:24:23,195 >> A YEAR FROM NOW, WE HAVE A 859 00:24:23,195 --> 00:24:24,797 MINUTE LEFT, A YEAR FROM NOW, IF 860 00:24:24,797 --> 00:24:26,699 YOU'RE SITTING ME, WHAT ARE YOU 861 00:24:26,699 --> 00:24:28,200 GOING TO TELL ME DIFFERENT THAN 862 00:24:28,200 --> 00:24:29,601 WHAT YOU TOLD ME TODAY. 863 00:24:29,601 --> 00:24:31,303 WHAT ARE YOUR TWO BIG GOALS FOR 864 00:24:31,303 --> 00:24:32,104 THE NEXT YEAR OUT. 865 00:24:32,104 --> 00:24:33,806 >> WE HAVE ESSENTIALLY TWO 866 00:24:33,806 --> 00:24:35,908 GOALS, BASICALLY, ONE IS DIGITAL 867 00:24:35,908 --> 00:24:38,110 TRANSFORMATION OF OUR -- OF OUR 868 00:24:38,110 --> 00:24:39,712 ORGANIZATION, OF OUR NEWS ROOM 869 00:24:39,712 --> 00:24:40,612 AND THE REST OF OUR ORGANIZATION 870 00:24:40,612 --> 00:24:41,313 AS WELL. 871 00:24:41,313 --> 00:24:43,415 WE'VE MADE ENORMOUS PROGRESS. 872 00:24:43,415 --> 00:24:45,017 THERE HASN'T BEEN RESISTANCE TO 873 00:24:45,017 --> 00:24:46,218 THAT, BUT WE HAVE A LOT OF 874 00:24:46,218 --> 00:24:47,119 THINGS TO DO. 875 00:24:47,119 --> 00:24:48,320 SO WE WANT TO TRANSFORM 876 00:24:48,320 --> 00:24:50,322 OURSELVES AND BECOME I THINK IN 877 00:24:50,322 --> 00:24:52,424 THE TRUEST SENSE A DIGITAL 878 00:24:52,424 --> 00:24:52,725 ORGANIZATION. 879 00:24:52,725 --> 00:24:56,328 AND THE OTHER IS THAT TO BE 880 00:24:56,328 --> 00:24:58,831 AMBITIOUS JOURNALISTICALLY, WE 881 00:24:58,831 --> 00:25:00,232 TALK ABOUT A YEAR OF AMBITION AT 882 00:25:00,232 --> 00:25:02,234 THE POST, IT'S IMPORTANT TO DO 883 00:25:02,234 --> 00:25:03,535 THE KINDS OF THINGS WE WERE 884 00:25:03,535 --> 00:25:05,637 TALKING ABOUT AT THE BEGINNING 885 00:25:05,637 --> 00:25:06,638 OF THIS CONVERSATION, AGENDA 886 00:25:06,638 --> 00:25:08,440 SETTING JOURNALISM, JOURNALISM 887 00:25:08,440 --> 00:25:10,042 THAT MAKES AN ACTUAL DIFFERENCE, 888 00:25:10,042 --> 00:25:11,043 BOTH OF THOSE ARE IMPORTANT TO 889 00:25:11,043 --> 00:25:12,444 US, AND NEITHER CAN BE 890 00:25:12,444 --> 00:25:13,145 SACRIFICED. 891 00:25:13,145 --> 00:25:14,246 >> GREAT, YOU'LL HAVE THE 892 00:25:14,246 --> 00:25:16,048 RESOURCES TO DO IT, AS YOU SAY, 893 00:25:16,048 --> 00:25:17,649 AND THAT'S A GOOD THING. 894 00:25:17,649 --> 00:25:18,650 MARTY, GOOD LUCK. 895 00:25:18,650 --> 00:25:19,051 >> THANK YOU. 896 00:25:19,051 --> 00:25:20,953 >> WE'RE ALL WATCHING YOU WITH 897 00:25:20,953 --> 00:25:22,254 NERVOUSNESS AND HOPE. 898 00:25:22,254 --> 00:25:24,857 YOUR OPTIMISM NEEDS TO BE 899 00:25:24,857 --> 00:25:28,260 CONTAGIOUS FOR THE NEXT OF US. 900 00:25:28,260 --> 00:25:29,461 THANKS VERY MUCH. 901 00:25:29,461 --> 00:25:29,862 THANK YOU. 902 00:25:29,862 --> 00:25:30,462 [ APPLAUSE ] 903 00:25:30,462 --> 00:25:34,366 >> WE'D LOVE TO HAVE YOU JOIN US 904 00:25:34,366 --> 00:25:35,567 IN THE STUDIO, VISIT OUR WEBSITE 905 00:25:35,567 --> 00:25:40,672 AT KLRU.ORG/OVERHEARD TO FIND 906 00:25:40,672 --> 00:25:43,675 INVITATIONS TO INTERVIEWS, Q AND 907 00:25:43,675 --> 00:25:45,811 As WITH OUR AUDIENCE AND GUEST 908 00:25:45,811 --> 00:25:49,715 AND AN ARCHIVE OF PAST 909 00:25:49,715 --> 00:25:51,417 INTERVIEWS. 910 00:25:51,417 --> 00:25:53,118 >> WHEN YOU HAVE A SHOOTING AT 911 00:25:53,118 --> 00:25:55,220 FT. HOOD, THE FIRST THING WE DO 912 00:25:55,220 --> 00:25:57,122 IS REPORT THERE'S A SHOOTING AT 913 00:25:57,122 --> 00:25:58,724 FORD HOOD, WE DON'T KNOW HAVE 914 00:25:58,724 --> 00:26:00,025 MUCH ABOUT IT, BUT WE'RE GOING 915 00:26:00,025 --> 00:26:02,628 TO FIND OUT MORE ABOUT IT, AS WE 916 00:26:02,628 --> 00:26:04,029 DO GET THAT ADDITIONAL 917 00:26:04,029 --> 00:26:05,330 INFORMATION, WE POST THAT, THE 918 00:26:05,330 --> 00:26:06,832 IMPORTANT THING IS TO MAKE SURE 919 00:26:06,832 --> 00:26:08,133 THAT WE DON'T POST INFORMATION 920 00:26:08,133 --> 00:26:10,836 THAT IS IN FACT INCORRECT. 921 00:26:10,836 --> 00:26:18,844 >> FUNDING FOR "OVERHEARD" WITH 922 00:26:18,844 --> 00:26:21,046 EVAN SMITH IS PROVIDED IN PART 923 00:26:21,046 --> 00:26:23,449 BY MFI FOUNDATION, IMPROVING THE 924 00:26:23,449 --> 00:26:25,150 QUALITY OF LIFE WITHIN OUR 925 00:26:25,150 --> 00:26:26,652 COMMUNITY AND FROM THE TEXAS 926 00:26:26,652 --> 00:26:28,153 BOARD OF LEGAL SPECIALIZATION, 927 00:26:28,153 --> 00:26:29,455 BOARD CERTIFIED ATTORNEYS IN 928 00:26:29,455 --> 00:26:31,156 YOUR COMMUNITY, EXPERIENCED, 929 00:26:31,156 --> 00:26:32,758 RESPECTED AND TESTED. 930 00:26:32,758 --> 00:26:35,060 ALSO BY HILLCO PARTNERS. 931 00:26:35,060 --> 00:26:36,361 TEXAS GOVERNMENT AFFAIRS 932 00:26:36,361 --> 00:26:37,963 CONSULTANCY, AND ITS GLOBAL 933 00:26:37,963 --> 00:26:39,465 HEALTH CARE CONSULTING BUSINESS 934 00:26:39,465 --> 00:26:41,066 UNIT, HILLCO HEALTH. 935 00:26:41,066 --> 00:26:42,968 AND BY THE ALICE KLEBERG 936 00:26:42,968 --> 00:26:44,102 REYNOLDS FOUNDATION. 937 00:26:44,102 --> 00:26:45,604 AND VIEWERS LIKE YOU. 938 00:26:45,604 --> 00:26:45,904 THANK YOU. 939 00:26:45,904 --> 00:27:13,732 >> THIS WEEK ON "OVERHEARD", 940 00:27:13,732 --> 00:27:14,833 WASHINGTON POST EXECUTIVE EDITOR 941 00:27:14,833 --> 00:27:16,635 MARTIN BARON. 942 00:27:16,635 --> 00:27:18,537 >> LOCAL COVERAGE IS SORT OF THE 943 00:27:18,537 --> 00:27:19,638 ROOTS OF THE TREE. 944 00:27:19,638 --> 00:27:22,441 ANY STRONG TREE HAS TO HAVE VERY 945 00:27:22,441 --> 00:27:24,343 STRONG ROOTS IT ALSO HAS THE 946 00:27:24,343 --> 00:27:25,744 TRUNK AND IT HAS THE BRANCHES, 947 00:27:25,744 --> 00:27:28,046 THE ROOTS FOR A METROPOLITAN 948 00:27:28,046 --> 00:27:29,047 NEWSPAPER LIKE THE POST, EVEN 949 00:27:29,047 --> 00:27:30,249 THOUGH IT HAS A NATIONAL AND 950 00:27:30,249 --> 00:27:32,050 INTERNATIONAL PORTFOLIO ARE IN 951 00:27:32,050 --> 00:27:33,252 ITS LOCAL COVERAGE. 952 00:27:33,252 --> 00:27:34,953 IT HAS TO BE EXCELLENT AT THAT. 953 00:27:34,953 --> 00:27:36,755 IT ALSO HAS TO BE EXCELLENT AT 954 00:27:36,755 --> 00:27:37,756 OTHER THINGS.