WEBVTT 00:01.101 --> 00:07.608 >> FUNDING FOR "OVERHEARD" WITH 00:07.608 --> 00:09.510 EVAN SMITH IS PROVIDED IN PART 00:09.510 --> 00:12.012 BY MFI FOUNDATION, IMPROVING THE 00:12.012 --> 00:13.914 QUALITY OF LIFE WITHIN OUR 00:13.914 --> 00:14.314 COMMUNITY. 00:14.314 --> 00:15.816 AND FROM THE TEXAS BOARD OF 00:15.816 --> 00:18.418 LEGAL SPECIALIZATION, BOARD 00:18.418 --> 00:19.720 CERTIFIED ATTORNEYS IN YOUR 00:19.720 --> 00:20.220 COMMUNITY. 00:20.220 --> 00:22.723 EXPERIENCED, RESPECTED AND 00:22.723 --> 00:23.524 TESTED. 00:23.524 --> 00:25.425 ALSO BY HILLCO PARTNERS, TEXAS 00:25.425 --> 00:27.828 GOVERNMENT AFFAIRS CONSULTANCY, 00:27.828 --> 00:29.830 AND ITS GLOBAL HEALTH CARE 00:29.830 --> 00:31.031 CONSULTING BUSINESS UNIT, HILLCO 00:31.031 --> 00:34.534 HEALTH, AND BY THE ALICE KLEBERG 00:34.534 --> 00:36.036 REYNOLDS FOUNDATION AND VIEWERS 00:36.036 --> 00:37.237 LIKE YOU, THANK YOU. 00:37.237 --> 00:41.241 >> I'M EVAN SMITH. 00:41.241 --> 00:43.844 "THE WASHINGTON POST," 00:43.844 --> 00:45.279 PREVIOUSLY EDITED 00:45.279 --> 00:47.381 "THE~BOSTON~GLOBE" WHERE HE AND 00:47.381 --> 00:49.583 HIS COLLEAGUES WON SIX PULITZER 00:49.583 --> 00:53.287 PRIZES, JOURNALISM'S HIGHEST 00:53.287 --> 00:54.087 HONOR. 00:54.087 --> 00:58.492 HE'S MARTIN BARON, THIS IS 00:58.492 --> 00:58.992 "OVERHEARD." 00:58.992 --> 01:00.594 >> I GUESS WE CAN'T FIRE HIM 01:00.594 --> 01:00.794 NOW. 01:00.794 --> 01:01.995 >> THE NIGHT THAT I WIN THE 01:01.995 --> 01:02.296 EMMY. 01:02.296 --> 01:03.797 >> BEING ON THE SUPREME COURT 01:03.797 --> 01:05.399 WAS AN IMPROBABLE DREAM. 01:05.399 --> 01:07.200 >> IT'S HARD WORK AND IT'S 01:07.200 --> 01:08.101 CONTROVERSIAL. 01:08.101 --> 01:10.404 >> WITHOUT INFORMATION THERE IS 01:10.404 --> 01:12.506 NO FREEDOM AND IT'S JOURNALISTS 01:12.506 --> 01:13.607 WHO PROVIDE THAT INFORMATION. 01:13.607 --> 01:15.208 >> WINDOWS ROLL DOWN, THIS GUY 01:15.208 --> 01:18.011 SAYS, HEY, IT GOES TO 11. 01:18.011 --> 01:19.212 [ LAUGHTER ] 01:19.212 --> 01:25.719 >> MARTY BARON, WELCOME. 01:25.719 --> 01:26.620 >> THANK YOU. 01:26.620 --> 01:27.921 >> NICE TO SEE YOU. 01:27.921 --> 01:29.122 >> IT'S BEEN FIFTEEN MONTHS OR 01:29.122 --> 01:30.123 SO, THE BIG JOB AT THE 01:30.123 --> 01:33.126 WASHINGTON POST, GRADE YOURSELF, 01:33.126 --> 01:35.228 HOW DO YOU THINK YOU'VE DONE, 01:35.228 --> 01:36.430 ASSESS YOUR OWN WORK. 01:36.430 --> 01:38.832 >> SURE, WELL, I'LL GRADE 01:38.832 --> 01:42.035 OURSELVES AS A GROUP, NOT MYSELF 01:42.035 --> 01:43.337 PERSONALLY, I THINK THE POST HAS 01:43.337 --> 01:45.772 DONE A TERRIFIC JOB. 01:45.772 --> 01:47.574 OUR WORK, THE WORK THAT WE DID 01:47.574 --> 01:49.176 ON THE N.S.A. WAS AT THE LEADING 01:49.176 --> 01:49.876 EDGE OF THAT STORY. 01:49.876 --> 01:52.479 >> AND LET'S HOPE IT'S REWARDED 01:52.479 --> 01:54.081 APPROPRIATELY AT THE -- AT THOSE 01:54.081 --> 01:56.984 MOMENTS, IT WILL COME SOON, 01:56.984 --> 01:57.584 LET'S HOPE. 01:57.584 --> 01:59.686 >> FROM YOUR LIPS TO GOD'S EARS. 01:59.686 --> 02:00.087 >> YEAH. 02:00.087 --> 02:02.289 >> THE WORK THAT WE DID ON THE 02:02.289 --> 02:03.890 GOVERNOR OF VIRGINIA, ACTUALLY 02:03.890 --> 02:05.993 LED TO HIS INDICTMENT, WE DID 02:05.993 --> 02:09.796 WORK ON ABUSE OF TAX LIENS, THAT 02:09.796 --> 02:10.697 WAS TREMENDOUS. 02:10.697 --> 02:12.099 GREAT NARRATIVE WORK BY ONE OF 02:12.099 --> 02:13.800 OUR OUTSTANDING WRITERS ABOUT 02:13.800 --> 02:15.302 THE FOOD STAMP PROGRAM AND 02:15.302 --> 02:16.903 TAKING A DEEP LOOK AT THAT, I 02:16.903 --> 02:18.205 THINK ACROSS THE BOARD THE 02:18.205 --> 02:21.708 JOURNALISM WAS OUTSTANDING. 02:21.708 --> 02:23.210 >> ISN'T IT AMAZING TO TALK 02:23.210 --> 02:25.512 ABOUT JOURNALISM IN JOURNALISM, 02:25.512 --> 02:27.714 WE SPEND A LOT OF TIME TALKING 02:27.714 --> 02:30.717 ABOUT THE JOURNALISM END OF THAT 02:30.717 --> 02:33.020 PHRASE, YOU SOUND LIKE AN OLD 02:33.020 --> 02:34.121 SCHOOL GUY TALKING ABOUT 02:34.121 --> 02:35.022 JOURNALISM. 02:35.022 --> 02:39.626 >> I LIKE THE WORD JOURNALISM, I 02:39.626 --> 02:41.328 DETEST THE WORD CONTENT. 02:41.328 --> 02:42.629 >> I'LL MAKE A NOTE OF THAT. 02:42.629 --> 02:44.031 >> I HAVE TO USE IT WITH MY 02:44.031 --> 02:47.267 BUSINESS COLLEAGUES, THAT'S THE 02:47.267 --> 02:48.468 WORD THEY USE FREQUENTLY. 02:48.468 --> 02:49.870 BUT THE FACT IS THAT IF YOU SAY 02:49.870 --> 02:52.472 "CONTENT", IT'S AS IF YOU WERE 02:52.472 --> 02:53.974 SAYING THE WORD "STUFF", IT 02:53.974 --> 02:56.376 DOESN'T HAVE ANY REAL MEANING, 02:56.376 --> 02:59.079 JOURNALISM DOES HAVE MEANING. 02:59.079 --> 03:00.881 WE'RE TRYING TO FIND WHY THINGS 03:00.881 --> 03:02.182 HAPPENED, WHERE THEY'RE HEADED, 03:02.182 --> 03:03.683 WHO'S BEHIND IT, THERE'S A 03:03.683 --> 03:05.085 DEEPER LEVEL OF MEANING, I THINK 03:05.085 --> 03:08.789 THE WORD JOURNALISM IS VERY 03:08.789 --> 03:08.989 IMPORTANT. 03:08.989 --> 03:11.692 >> YOU'VE SEEN IF NOT ENTIRELY A 03:11.692 --> 03:12.793 CERTAIN AMOUNT OF COMFORT. 03:12.793 --> 03:14.694 MAYBE IT IS ENTIRELY COMFORT IN 03:14.694 --> 03:15.896 MOVING INTO A LOT OF THESE 03:15.896 --> 03:17.297 ADDITIONAL PLATFORMS THAT 03:17.297 --> 03:19.099 JOURNALISM ORGANIZATIONS, NEWS 03:19.099 --> 03:20.300 ORGANIZATIONS OBLIGATED TO OWN 03:20.300 --> 03:22.002 THESE DAYS, IT'S NOT JUST THE 03:22.002 --> 03:23.303 WRITTEN WORD ON THE PRINTED 03:23.303 --> 03:25.705 PAGE, IT'S VIDEO AND SOCIAL 03:25.705 --> 03:27.808 MEDIA AND SORT OF THE WHOLE 03:27.808 --> 03:32.212 PANOPLY OF THINGS, THIS IS WHAT 03:32.212 --> 03:32.612 WE DO. 03:32.612 --> 03:34.214 >> WE HAVE WONDERFUL NEW TOOLS, 03:34.214 --> 03:36.316 VERY POWERFUL NEW TOOLS, THEY'RE 03:36.316 --> 03:38.618 NOT CONTRARY TO GOOD JOURNALISM. 03:38.618 --> 03:39.820 >> YOU THINK THEY'RE CONSISTENT 03:39.820 --> 03:41.121 WITH THE KIND OF STORY TELLING. 03:41.121 --> 03:42.322 >> THEY'RE CONSISTENT WITH STORY 03:42.322 --> 03:42.823 TELLING. 03:42.823 --> 03:44.558 THEY ALLOW US TO DO STORY 03:44.558 --> 03:46.760 TELLING AT A MUCH DEEPER LEVEL, 03:46.760 --> 03:48.361 USE VIDEO, GIVE A SENSE OF THE 03:48.361 --> 03:49.663 PERSON, PROVIDE ORIGINAL 03:49.663 --> 03:50.664 DOCUMENTATION THAT PEOPLE MIGHT 03:50.664 --> 03:52.165 WANT TO SEE THAT ACTUALLY ADDS 03:52.165 --> 03:53.767 CREDIBILITY TO THE WORK THAT WE 03:53.767 --> 03:55.168 DO, THAT ENGAGES THE AUDIENCE, 03:55.168 --> 03:56.770 THAT ALLOWS THEM TO PARTICIPATE, 03:56.770 --> 03:58.772 THAT ACTUALLY USES THEM AS 03:58.772 --> 04:00.674 REPORTING RESOURCES FOR US AS 04:00.674 --> 04:02.876 WELL, THE PUBLIC IS EXTREMELY 04:02.876 --> 04:03.777 KNOWLEDGE ABOUT A LOT OF 04:03.777 --> 04:05.078 SUBJECTS, MORE KNOWLEDGEABLE 04:05.078 --> 04:06.580 THAN WE ARE, AND WE CAN USE THEM 04:06.580 --> 04:07.881 TO OUR ADVANTAGE TO ACTUALLY 04:07.881 --> 04:08.682 TELL STORIES. 04:08.682 --> 04:11.685 >> ONE WOULD BE FORGIVEN BASED 04:11.685 --> 04:13.687 ON YOUR AFFECT TODAY, YOU'RE 04:13.687 --> 04:15.088 SAYING THIS IS A GOOD TIME TO BE 04:15.088 --> 04:16.389 IN THE BUSINESS WE'RE IN. 04:16.389 --> 04:19.092 >> I THINK IT IS A GOOD TIME. 04:19.092 --> 04:20.093 >> A MINORITY POSITION. 04:20.093 --> 04:22.395 >> I HAVEN'T TAKEN THAT SURVEY, 04:22.395 --> 04:23.897 I DON'T KNOW IF IT'S A MINORITY 04:23.897 --> 04:25.398 POSITION, BUT I REALLY DO FEEL 04:25.398 --> 04:26.600 IT'S A GOOD TIME TO BE IN THE 04:26.600 --> 04:28.502 BUSINESS, FIRST OF ALL, WE'RE 04:28.502 --> 04:30.103 REACHING FAR MORE PEOPLE THAN 04:30.103 --> 04:32.105 WE'VE EVER REACHED BEFORE. 04:32.105 --> 04:34.708 >> ACROSS A VARIETY -- 04:34.708 --> 04:38.812 >> THE WASHINGTON POST HAS 04:38.812 --> 04:40.514 30 MILLION PEOPLE COMING TO ITS 04:40.514 --> 04:42.415 WEBSITE, THAT'S HUGE, THAT'S FAR 04:42.415 --> 04:44.117 MORE THAN WE WERE ABLE TO 04:44.117 --> 04:45.118 ACHIEVE BEFORE. 04:45.118 --> 04:46.219 >> THAT'S ALL GOOD? 04:46.219 --> 04:47.721 >> IT'S ALL GOOD. 04:47.721 --> 04:49.823 AS I MENTIONED, WE HAD STORY 04:49.823 --> 04:51.424 TELLING TOOLS AVAILABLE TO US 04:51.424 --> 04:53.426 THAT WE DID NOT HAVE BEFORE, SO 04:53.426 --> 04:54.728 WE CAN EXTEND OUR REACH. 04:54.728 --> 04:57.030 WE CAN TELL STORIES IN NEW WAYS, 04:57.030 --> 04:58.231 TELL STORIES IN PARTICULARLY 04:58.231 --> 04:59.933 EFFECTIVE WAYS, WAYS THAT ENGAGE 04:59.933 --> 05:02.035 A BROAD AUDIENCE AND I THINK 05:02.035 --> 05:03.837 THERE ARE ENORMOUS CHALLENGES IN 05:03.837 --> 05:04.437 OUR BUSINESS. 05:04.437 --> 05:05.839 I'M NOT DENYING THAT. 05:05.839 --> 05:08.642 I'M NOT A POLLY ANNA, ENORMOUS 05:08.642 --> 05:10.243 PRESSURES, I'VE BEEN SUBJECT TO 05:10.243 --> 05:11.645 THEM, EVERYBODY HAS BEEN SUBJECT 05:11.645 --> 05:14.447 TO THEM, THEY'RE VERY DIFFICULT, 05:14.447 --> 05:15.549 THAT DOESN'T MEAN WE DON'T HAVE 05:15.549 --> 05:17.250 A FUTURE, THAT DOESN'T MEAN THAT 05:17.250 --> 05:19.052 WE SHOULDN'T BE OPTIMISTIC, I 05:19.052 --> 05:20.253 THINK WE SHOULD FOR A VARIETY OF 05:20.253 --> 05:21.354 REASONS. 05:21.354 --> 05:23.056 >> IF YOU COME OUT AND YOU GO BY 05:23.056 --> 05:24.858 THE WASHINGTON POST, WHAT YOU'RE 05:24.858 --> 05:26.359 GOING TO SEE IS OPPORTUNITY, 05:26.359 --> 05:26.760 RIGHT? 05:26.760 --> 05:29.062 THE POINT OF THIS, THE UNREST, 05:29.062 --> 05:30.263 THIS TURMOIL THAT WE LIVE IN 05:30.263 --> 05:32.566 EVERY DAY HAS NONETHELESS 05:32.566 --> 05:34.067 CREATED OPPORTUNITY FOR SMART 05:34.067 --> 05:35.268 YOUNG PEOPLE TO COME UP WITH NEW 05:35.268 --> 05:36.570 WAYS OF DOING THINGS. 05:36.570 --> 05:38.471 IT'S CREATED ESSENTIALLY NEW JOB 05:38.471 --> 05:39.973 DESCRIPTIONS, AT PLACES LIKE THE 05:39.973 --> 05:40.473 POST. 05:40.473 --> 05:42.976 THAT'S A GOOD THING, AND YOU'RE 05:42.976 --> 05:44.077 COMFORTABLE WITH THAT KIND OF 05:44.077 --> 05:44.511 EVOLUTION. 05:44.511 --> 05:45.712 >> I'M EXCITED ABOUT THAT, 05:45.712 --> 05:46.012 ACTUALLY. 05:46.012 --> 05:47.514 WE HAVE A WHOLE NEW GROUP OF 05:47.514 --> 05:48.515 PEOPLE COMING INTO OUR BUSINESS 05:48.515 --> 05:50.317 WHO ARE DIGITAL NATIVES, THEY 05:50.317 --> 05:52.018 GREW UP -- YEP, FIRST 05:52.018 --> 05:52.419 GENERATION. 05:52.419 --> 05:54.521 >> THAT'S THEIR NATIVE LANGUAGE, 05:54.521 --> 05:57.524 FOR PEOPLE LIKE ME, WE'RE 05:57.524 --> 05:58.625 LEARNING THAT, IT SHOWS SOME 05:58.625 --> 05:59.826 TIMES THAT WE'RE STILL IN THE 05:59.826 --> 06:01.127 PROCESS OF LEARNING, FOR YOUNG 06:01.127 --> 06:02.829 PEOPLE, THEY'VE GROWN UP WITH 06:02.829 --> 06:04.631 THIS FROM THE VERY BEGINNING, 06:04.631 --> 06:05.932 THEY DON'T KNOW ANOTHER 06:05.932 --> 06:07.234 LANGUAGE, SO THEY KIND OF SPEAK 06:07.234 --> 06:08.435 WITHOUT AN ACCENT IN THIS 06:08.435 --> 06:10.136 BUSINESS AND THAT'S AN INJECTION 06:10.136 --> 06:12.939 OF NEW ENERGY, NEW KNOWLEDGE, 06:12.939 --> 06:14.541 THAT WE DIDN'T HAVE BEFORE, AND 06:14.541 --> 06:16.643 FOR THEM THERE ARE TREMENDOUS 06:16.643 --> 06:17.644 OPPORTUNITIES BECAUSE WE'RE 06:17.644 --> 06:19.246 BECOMING AN ENTREPRENEURIAL 06:19.246 --> 06:21.248 BUSINESS, WE'RE BECOMING MUCH 06:21.248 --> 06:23.250 MORE OF A TECHNOLOGY BUSINESS, 06:23.250 --> 06:24.751 THAT'S VERY EXCITING, IT CREATES 06:24.751 --> 06:25.552 TREMENDOUS OPPORTUNITIES FOR 06:25.552 --> 06:28.555 YOUNG PEOPLE IN MEDIA AT LARGE, 06:28.555 --> 06:30.257 IF NOT JUST THE LEGACY 06:30.257 --> 06:31.658 INSTITUTIONS OF "THE WASHINGTON 06:31.658 --> 06:34.761 POST", "THE NEW YORK TIMES," THE 06:34.761 --> 06:35.362 "WALL STREET JOURNAL," WE'RE 06:35.362 --> 06:36.563 TALKING ABOUT MEDIA INSTITUTIONS 06:36.563 --> 06:37.764 THAT ARE CROPPING UP THAT ARE 06:37.764 --> 06:38.765 GROWING UP OVERNIGHT. 06:38.765 --> 06:41.368 >> THE COMPETITIVE SET HAS 06:41.368 --> 06:42.569 CHANGED, THERE ARE ORGANIZATIONS 06:42.569 --> 06:44.905 YOU'RE COMPETING WITH WHO YOU'RE 06:44.905 --> 06:45.905 CONSIDERING TO BE YOUR 06:45.905 --> 06:48.308 COMPETITION PROBABLY WHO YOU 06:48.308 --> 06:49.509 NEVER THOUGHT WOULD BE IN THE 06:49.509 --> 06:49.910 WATER WITH YOU. 06:49.910 --> 06:52.712 >> IT'S A FAR MORE COMPETITIVE 06:52.712 --> 06:52.912 INDUSTRY. 06:52.912 --> 06:54.714 I OFTEN TALK ABOUT WHAT DOES IT 06:54.714 --> 06:55.915 START TO TAKE AN INTERNATIONAL 06:55.915 --> 06:57.917 TELEVISION NETWORK, TURN ON YOUR 06:57.917 --> 06:59.019 COMPUTER AND TURN ON YOUR 06:59.019 --> 06:59.719 CAMERAS. 06:59.719 --> 07:02.122 >> THE BARRIERS TO ENTRY HAVE 07:02.122 --> 07:04.724 BEEN OBLITERATED. 07:04.724 --> 07:06.927 >> THEY SEE ENTREPRENEURIAL 07:06.927 --> 07:08.328 OPPORTUNITIES, VENTURES THAT 07:08.328 --> 07:09.429 THEY CAN START AND WE'RE 07:09.429 --> 07:11.031 COMPETING WITH ALL SORTS OF 07:11.031 --> 07:12.632 ENTITIES THAT HAVE BEEN IN 07:12.632 --> 07:14.634 EXISTENCE FOR A LONG, NOT A LONG 07:14.634 --> 07:16.036 WHILE, GOOGLE, FACEBOOK, 07:16.036 --> 07:17.337 TWITTER, THINGS LIKE THAT. 07:17.337 --> 07:18.638 >> WE DON'T THINK OF THEM AS 07:18.638 --> 07:19.439 MEDIA COMPANIES. 07:19.439 --> 07:21.041 >> THEY ARE MEET I CAN'T 07:21.041 --> 07:22.842 COMPANIES AND THEY DEFINITELY 07:22.842 --> 07:23.743 ARE OUR COMPETITION. 07:23.743 --> 07:25.445 >> IS THE MATERIAL DIFFERENT 07:25.445 --> 07:28.448 BETWEEN "THE BOSTON GLOBE" AND 07:28.448 --> 07:29.249 "THE WASHINGTON POST". 07:29.249 --> 07:31.251 YOU SPENT A DOZEN YEARS AT "THE 07:31.251 --> 07:34.254 GLOBE", HAD GREAT SUCCESS. 07:34.254 --> 07:35.755 "THE WASHINGTON POST" IS "THE 07:35.755 --> 07:36.856 WASHINGTON POST". 07:36.856 --> 07:39.059 WE'RE SITTING HERE IN THE 40th 07:39.059 --> 07:40.960 ANNIVERSARY YEAR OF RICHARD 07:40.960 --> 07:43.563 NIXON'S RESIGNATION DRIVEN 07:43.563 --> 07:45.198 ENTIRELY BY THE REPORTING OF THE 07:45.198 --> 07:46.499 WASHINGTON POST, YOU CAN SAY HE 07:46.499 --> 07:48.501 HAD MADE HIS OWN BED, BUT YOU 07:48.501 --> 07:50.603 CAUSED HIM TO SLEEP IN IT. 07:50.603 --> 07:52.405 YOU KNOW, "THE WASHINGTON POST" 07:52.405 --> 07:55.208 IS ONE OF THESE NATIONAL, 07:55.208 --> 07:56.910 INTERNATIONAL KIND OF COSMIC 07:56.910 --> 07:59.112 UNIVERSAL BRANDS, I'M JUST 07:59.112 --> 08:00.413 WONDERING WHAT THAT SHIFT FOR 08:00.413 --> 08:01.614 YOU HAS BEEN LIKE, OR 08:01.614 --> 08:02.716 ESSENTIALLY YOU COVER UP THE 08:02.716 --> 08:04.117 NAME PLATE AND A NEWSPAPER IS A 08:04.117 --> 08:04.918 NEWSPAPER IS A NEWSPAPER. 08:04.918 --> 08:05.819 >> SURE. 08:05.819 --> 08:07.420 WELL, I WAS AT "THE GLOBE" FOR A 08:07.420 --> 08:10.924 LITTLE SHY OF A DOZEN YEARS AND 08:10.924 --> 08:12.625 I THINK WE DID TREMENDOUS WORK, 08:12.625 --> 08:14.627 I THINK IT'S IMPORTANT TO 08:14.627 --> 08:15.929 REMEMBER THE TREMENDOUS WORK 08:15.929 --> 08:17.630 THAT WAS DONE THERE, THE 08:17.630 --> 08:19.132 INVESTIGATION OF THE CATHOLIC 08:19.132 --> 08:20.533 CHURCH, THE CONCEALMENT OF THAT 08:20.533 --> 08:22.736 ABUSE FOR DECADES BE AT THIS 08:22.736 --> 08:26.539 ARCHDIOCESE OF BOSTON AND THE 08:26.539 --> 08:28.341 CHURCH AT A BROADER LEVEL AS 08:28.341 --> 08:29.943 WELL, THAT HAD AN IMMEDIATE 08:29.943 --> 08:31.745 IMPACT BUT HAS AN IMPACT THAT 08:31.745 --> 08:33.346 CONTINUES TO THIS DAY. 08:33.346 --> 08:34.447 SO AN INSTITUTION LIKE 08:34.447 --> 08:36.549 "THE~BOSTON~GLOBE", POWERFUL 08:36.549 --> 08:38.151 JOURNALISTIC INSTITUTION CAN 08:38.151 --> 08:39.853 HAVE A WORLDWIDE IMPACT AND IT 08:39.853 --> 08:41.354 DID IN THAT INSTANCE, AS FAR AS 08:41.354 --> 08:41.955 "THE WASHINGTON POST" IS 08:41.955 --> 08:43.456 CONCERNED, IT ALREADY HAS A 08:43.456 --> 08:45.291 NATIONAL -- A NATIONAL AND AN 08:45.291 --> 08:46.793 INTERNATIONAL PLATFORM, IT'S ONE 08:46.793 --> 08:48.194 THAT WAS CERTAINLY ESTABLISHED 08:48.194 --> 08:51.197 VERY MUCH IN THE WATER GATE ERA 08:51.197 --> 08:53.700 AND GREW FROM THAT POINT AND IT 08:53.700 --> 08:55.502 STILL DOES TO THIS DAY. 08:55.502 --> 08:57.404 THERE'S A RECOGNITION ON MY PART 08:57.404 --> 08:58.805 THAT I GO TO AN INSTITUTION WITH 08:58.805 --> 09:00.106 A STORIED HISTORY. 09:00.106 --> 09:01.408 >> BIG SHOES TO FILL. 09:01.408 --> 09:03.410 >> BIG SHOES TO FILL, BUT, YOU 09:03.410 --> 09:05.111 KNOW, A HISTORY THAT ACTUALLY 09:05.111 --> 09:07.113 INSPIRES ME RATHER THAN 09:07.113 --> 09:08.314 INTIMIDATES ME. 09:08.314 --> 09:10.116 IT GIVES ME A PURPOSE, I ALREADY 09:10.116 --> 09:11.718 HAD THE PURPOSE, BUT IT'S A 09:11.718 --> 09:13.219 GREAT MOTIVATOR AS WELL. 09:13.219 --> 09:14.521 >> YET, YOU TOLD THE NEW 09:14.521 --> 09:15.422 REPUBLIC WHEN YOU STARTED IN 09:15.422 --> 09:16.923 THIS JOB, THAT YOU THOUGHT ONE 09:16.923 --> 09:18.124 OF THE WAYS IN WHICH THE POST 09:18.124 --> 09:20.927 COULD DO A BASIC WORK WAS METRO 09:20.927 --> 09:21.728 AND LOCAL. 09:21.728 --> 09:22.829 YOU WERE TALKING ABOUT THE 09:22.829 --> 09:23.229 IMPORTANCE OF "THE WASHINGTON 09:23.229 --> 09:24.931 POST" AS A PAPER FOR WASHINGTON, 09:24.931 --> 09:26.032 WHEN MANY OF US THINK ABOUT "THE 09:26.032 --> 09:27.934 WASHINGTON POST" CASUALLY, WE 09:27.934 --> 09:29.636 THINK OF IT AS A NATIONAL BRAND 09:29.636 --> 09:31.037 ALONGSIDE "THE NEW YORK TIMES" 09:31.037 --> 09:31.838 AND "WALL STREET JOURNAL," THERE 09:31.838 --> 09:34.140 ARE FEW NATIONAL MEDIA BRANDS IN 09:34.140 --> 09:35.742 PRINT, THE POST WAS ONE, YOU 09:35.742 --> 09:37.444 TALKED ABOUT METRO AND LOCAL, 09:37.444 --> 09:39.145 I'LL GRANT YOU VINCENT GRAY HAS 09:39.145 --> 09:40.346 BEEN THE GIFT THAT KEEPS ON 09:40.346 --> 09:42.148 GIVING IN THE MAYOR'S OFFICE IN 09:42.148 --> 09:44.084 DC, SADLY THAT GIFT IS COMING TO 09:44.084 --> 09:45.885 AN END, WITH THE RECENT PRIMARY 09:45.885 --> 09:47.187 RESULTS, I CAN UNDERSTAND WHERE 09:47.187 --> 09:48.888 THE MATERIAL IS RICH, BUT REALLY 09:48.888 --> 09:50.490 A METRO AND LOCAL FOCUS. 09:50.490 --> 09:54.094 >> WELL, I DIDN'T SAY TO THE NEW 09:54.094 --> 09:54.994 REPUBLIC THAT "THE WASHINGTON 09:54.994 --> 09:55.895 POST" -- 09:55.895 --> 09:57.297 >> NOT TO THE EXCLUSION OF 09:57.297 --> 09:57.697 EVERYTHING ELSE. 09:57.697 --> 09:58.798 >> WHAT I SAID IS THAT "THE 09:58.798 --> 10:00.400 WASHINGTON POST" NEEDED TO BE 10:00.400 --> 10:03.903 STRONG IN ITS LOCAL COVERAGE. 10:03.903 --> 10:06.005 YOU MENTIONED WASHINGTON, D.C., 10:06.005 --> 10:08.408 WITH YOU WE COVER THE STATE OF 10:08.408 --> 10:10.310 VIRGINIA. 10:10.310 --> 10:12.112 AND MARTIN O'MALLEY, THE 10:12.112 --> 10:13.913 GOVERNOR THERE IS CONTEMPLATING 10:13.913 --> 10:15.715 THE POSSIBILITY OF RUNNING FOR 10:15.715 --> 10:16.616 PRESIDENT, WE'LL SEE. 10:16.616 --> 10:17.417 >> OR VICE PRESIDENT. 10:17.417 --> 10:20.720 >> OR WHO KNOWS WHAT. 10:20.720 --> 10:22.322 SO WE HAVE A GREAT TERRITORY TO 10:22.322 --> 10:23.723 COVER, WE SHOULD BE VERY GOOD AT 10:23.723 --> 10:26.426 THAT, I LOOK AT THIS AS LOCAL 10:26.426 --> 10:27.627 COVERAGE AS SORT OF THE ROOTS OF 10:27.627 --> 10:28.528 THE TREE. 10:28.528 --> 10:31.131 ANY STRONG TREE HAS TO HAVE VERY 10:31.131 --> 10:32.832 STRONG ROOTS BUT IT HAS THE 10:32.832 --> 10:34.334 TRUNK AND IT HAS THE BRANCHES 10:34.334 --> 10:36.035 AND THE ROOTS FOR METROPOLITAN 10:36.035 --> 10:37.937 NEWSPAPER LIKE THE POST, EVEN 10:37.937 --> 10:41.040 THOUGH IT HAS AINGS IN AAL AND 10:41.040 --> 10:42.642 INTERNATIONAL PORTFOLIO ARE IN 10:42.642 --> 10:44.277 ITS LOCAL COVERAGE. 10:44.277 --> 10:45.778 IT HAS TO BE EXCELLENT AT THAT. 10:45.778 --> 10:47.480 IT ALSO HAS TO BE EXCELLENT AT 10:47.480 --> 10:48.081 OTHER THINGS. 10:48.081 --> 10:49.682 >> YOU HAVE TO DEVOTE THE 10:49.682 --> 10:50.984 RESOURCES TO THE ROOTS AND THAT 10:50.984 --> 10:52.485 IS REALLY A QUESTION FOR ANY 10:52.485 --> 10:54.387 EDITOR, ANYBODY IN YOUR POSITION 10:54.387 --> 10:56.489 THESE DAYS IS FINITE RESOURCES, 10:56.489 --> 10:57.790 EVEN IF YOU'RE OWNED BY THE 10:57.790 --> 10:59.993 GREAT BEZOS AS "THE WASHINGTON 10:59.993 --> 11:01.794 POST" HAPPENS TO BE. 11:01.794 --> 11:02.896 WE'LL TALK ABOUT THAT FOR A 11:02.896 --> 11:03.096 SECOND. 11:03.096 --> 11:04.998 THE TAP IS NOT TURNED ON FOREVER 11:04.998 --> 11:06.199 AND AT ALL TIMES. 11:06.199 --> 11:06.900 YOU HAVE TO THINK ABOUT HOW DO 11:06.900 --> 11:08.701 YOU TAKE THE RESOURCES AVAILABLE 11:08.701 --> 11:10.403 AND ALLOCATE THEM N THE CASE OF 11:10.403 --> 11:12.906 METRO AND LOCAL, THAT IS 11:12.906 --> 11:14.507 PRESUMABLY CHEAPER COVERAGE TO 11:14.507 --> 11:16.309 PAY FOR INSTEAD OF SENDING 11:16.309 --> 11:17.810 SOMETHING TO SOME FAR FLUNG 11:17.810 --> 11:19.412 PLACE TO DO INTERNATIONAL 11:19.412 --> 11:19.612 COVERAGE. 11:19.612 --> 11:21.514 >> I'M NOT SO SURE THAT'S TRUE, 11:21.514 --> 11:23.116 I THINK IT'S VERY HARD TO SORT 11:23.116 --> 11:24.317 OF FIGURE OUT THAT EQUATION, 11:24.317 --> 11:26.019 BECAUSE IF YOU'RE WRITING ABOUT 11:26.019 --> 11:27.020 NATIONAL AND INTERNATIONAL 11:27.020 --> 11:28.621 STORIES, YOU'RE REACHING A 11:28.621 --> 11:29.923 NATIONAL AND INTERNATIONAL 11:29.923 --> 11:32.325 AUDIENCE, AND SO, YEAH, SURE, 11:32.325 --> 11:34.527 IT'S MORE EXPENSIVE TO DO ANY 11:34.527 --> 11:35.628 ONE PARTICULAR STORY, 11:35.628 --> 11:37.130 PARTICULARLY IF YOU HAVE TO DO A 11:37.130 --> 11:38.831 LOT OF TRAVEL BUT WHAT YOU GET 11:38.831 --> 11:40.533 OUT OF IT IS MORE LIKELY A 11:40.533 --> 11:44.871 LARGER AUDIENCE, SO -- I DON'T 11:44.871 --> 11:48.174 KNOW WHAT THE EXACT SPLIT SHOULD 11:48.174 --> 11:49.175 BE, I DON'T KNOW IF ANYONE 11:49.175 --> 11:49.676 KNOWS. 11:49.676 --> 11:50.577 FOR "THE WASHINGTON POST" WE 11:50.577 --> 11:51.578 NEED TO DO ALL OF THAT. 11:51.578 --> 11:53.479 >> THERE'S METRO AND LOCAL IN 11:53.479 --> 11:58.184 THE CONVENTIONAL SENSE COVERING 11:58.184 --> 11:59.686 VIRGINIA, MARYLAND AND ALL OF 11:59.686 --> 12:01.387 THAT, POLITICS IN THE NATION'S 12:01.387 --> 12:04.090 CAPITAL SINCE IS KIND OF LOCAL 12:04.090 --> 12:05.091 FOR YOU TOO. 12:05.091 --> 12:06.893 IT SEEMS LIKE IF YOU DIDN'T OWN 12:06.893 --> 12:08.895 THAT SPACE OR COOWN IT WITH SOME 12:08.895 --> 12:10.697 OTHER FOLKS, IT WOULD BE A REAL 12:10.697 --> 12:11.097 FAILING. 12:11.097 --> 12:12.599 HOW DO YOU THINK YOU'VE DONE IN 12:12.599 --> 12:14.200 TERMS OF COVERING NATIONAL 12:14.200 --> 12:16.603 POLITICS, COVERING THE CAPITOL, 12:16.603 --> 12:17.704 IT IS LOCAL FOR YOU. 12:17.704 --> 12:20.106 >> I THINK WE'VE DONE WELL, I 12:20.106 --> 12:21.207 THINK WE HAVE A TREMENDOUS 12:21.207 --> 12:22.609 POLITICAL STAFF AT THE POST, I 12:22.609 --> 12:23.710 THINK THEY'VE DONE A LOT OF THE 12:23.710 --> 12:25.011 DEFINING STORIES IN THE NATION'S 12:25.011 --> 12:26.813 CAPITAL, THE N.S.A. IS AN 12:26.813 --> 12:27.513 EXAMPLE OF THAT. 12:27.513 --> 12:29.816 THE SINGLE BIGGEST POLITICAL -- 12:29.816 --> 12:31.117 ONE OF THE BIGGEST POLITICAL 12:31.117 --> 12:32.418 TOPICS IN THE COUNTRY OVER THE 12:32.418 --> 12:34.120 LAST YEAR HAS BEEN THE ISSUE OF 12:34.120 --> 12:35.722 SECURITY VERSUS PRIVACY AS A 12:35.722 --> 12:37.724 RESULT OF THE N.S.A. 12:37.724 --> 12:38.224 DISCLOSURES. 12:38.224 --> 12:38.725 >> YEP. 12:38.725 --> 12:40.627 >> AND WE HAVE BEEN AT THE FRONT 12:40.627 --> 12:41.728 OF THAT STORY. 12:41.728 --> 12:43.730 WE'VE BEEN DRIVING THAT STORY. 12:43.730 --> 12:46.866 AND -- AND NOBODY -- AND THERE'S 12:46.866 --> 12:49.068 ONLY ONE OTHER MEDIA 12:49.068 --> 12:49.769 ORGANIZATION THAT HAS BEEN IN 12:49.769 --> 12:50.069 THERE. 12:50.069 --> 12:50.970 >> AND THAT WOULD BE THE 12:50.970 --> 12:51.471 GUARDIAN. 12:51.471 --> 12:52.872 >> THAT WOULD BE THE GUARDIAN. 12:52.872 --> 12:54.073 AS YOU SAID EARLIER, COMPETITION 12:54.073 --> 12:56.376 IS NOW GREATER, MORE PEOPLE TO 12:56.376 --> 12:57.877 ELBOW OUT OF THE WAY, SOME OF 12:57.877 --> 12:59.078 THAT IS THE FOLKS YOU'VE BEEN 12:59.078 --> 13:00.480 COMPETING WITH INSTITUTIONALLY, 13:00.480 --> 13:01.981 NOT MAYBE YOU BUT THE POST FOR 13:01.981 --> 13:03.383 SOME TIME, THERE ARE NEW PEOPLE 13:03.383 --> 13:04.584 THAT HAVE COME ON THE SCENE, 13:04.584 --> 13:06.185 SOME OF THEM HAVE BEEN PEOPLE 13:06.185 --> 13:07.587 WHO HAVE A WASHINGTON POST 13:07.587 --> 13:09.288 LINEAGE, I'M THINKING 13:09.288 --> 13:11.591 PRINCIPALLY OF IMPLICIT CO, THE 13:11.591 --> 13:13.893 FOUNDERS WERE PEOPLE THAT HAD 13:13.893 --> 13:14.894 COME FROM THE POST, THEY HAD 13:14.894 --> 13:15.995 COME TO THE OWNERSHIP OF THE 13:15.995 --> 13:17.296 POST AT THE TIME AND SAID WE 13:17.296 --> 13:18.798 WOULD LIKE TO DO THIS UNDER THE 13:18.798 --> 13:21.401 POST UMBRELLA, THEY WERE TOLD 13:21.401 --> 13:23.102 MAYBE NOT, SO HOW MUCH HAS THE 13:23.102 --> 13:27.507 ARRIVAL OF FOLKS LIKE POLITICO 13:27.507 --> 13:31.010 ON THE SCENE MADE YOUR JOB 13:31.010 --> 13:32.412 DIFFERENT, MAYBE IT'S IMPROVED 13:32.412 --> 13:32.912 IT -- 13:32.912 --> 13:34.113 >> I DO LIKE COMPETITION. 13:34.113 --> 13:36.416 I THINK IT MAKES US BETTER. 13:36.416 --> 13:37.617 I'M IN FAVOR OF COMPETITION. 13:37.617 --> 13:39.619 SO, BUT THE FACT IS I WASN'T 13:39.619 --> 13:40.019 THERE -- 13:40.019 --> 13:40.620 >> AT THE TIME. 13:40.620 --> 13:42.522 >> AT THE TIME, SO I'M A 13:42.522 --> 13:44.357 NEWCOMETOR THE POST, BUT THE 13:44.357 --> 13:46.259 FACT IS IF YOU ACTUALLY LOOK AT 13:46.259 --> 13:47.860 WHAT PEOPLE READ IN WASHINGTON, 13:47.860 --> 13:49.462 THEY READ "THE WASHINGTON POST", 13:49.462 --> 13:50.763 THE PERCENTAGE OF THE PEOPLE WHO 13:50.763 --> 13:54.267 READ POLITICO IS ACTUALLY 13:54.267 --> 13:56.069 RELATIVELY SMALL, IF YOU LOOK IN 13:56.069 --> 13:57.270 THE FEDERAL GOVERNMENT AT THE 13:57.270 --> 13:58.571 NUMBER OF PEOPLE WHO READ US 13:58.571 --> 14:02.375 VERSUS THE -- READ POLITICO, WE 14:02.375 --> 14:03.676 OVERWHELM THEM, SO WE HAVE A 14:03.676 --> 14:06.079 BIGGER PREFERENCE IN COVERING 14:06.079 --> 14:07.180 GOVERNMENT AND MORE PEOPLE ARE 14:07.180 --> 14:07.880 READING US. 14:07.880 --> 14:10.183 THEY'RE RELATIVELY SMALL SITE BY 14:10.183 --> 14:11.284 COMPARISON WITH US, THEY HAVE 14:11.284 --> 14:13.486 SOMETHING LIKE 6 MILLION UNIQUE 14:13.486 --> 14:14.787 VISITORS, WHEN YOU LOOK AT 14:14.787 --> 14:17.190 MOBILE USERS PLUS DESK TOP USERS 14:17.190 --> 14:19.192 PER MONTH, SIX TO SEVEN MILLION 14:19.192 --> 14:20.293 DEPENDING ON THE MONTH. 14:20.293 --> 14:22.295 IT GOES UP DURING A PRESIDENTIAL 14:22.295 --> 14:23.696 ELECTION YEAR, BUT FALLS 14:23.696 --> 14:25.498 DRAMATICALLY IN NONPRESIDENTIAL 14:25.498 --> 14:26.899 ELECTION YEARS, WE HAVE 14:26.899 --> 14:28.701 30 MILLION UNIQUE VISITORS THAT 14:28.701 --> 14:30.903 COME TO OUR SITE PER MONTH, 14:30.903 --> 14:32.805 WE'RE ABOUT FOUR TO FIVE TIMES 14:32.805 --> 14:35.007 THEIR SIZE IN ANY MONTH. 14:35.007 --> 14:36.509 >> THIS QUESTION BEFORE, IT 14:36.509 --> 14:37.210 SEEMS LIKE -- 14:37.210 --> 14:39.011 >> I'VE CERTAINLY ANTICIPATED 14:39.011 --> 14:40.913 THIS QUESTION BEFORE, AND -- AND 14:40.913 --> 14:43.116 THE FACT IS I THINK SOMETIMES IT 14:43.116 --> 14:45.518 HELPS NOT JUST TO LISTEN TO THE 14:45.518 --> 14:48.821 RHETORIC AND THE BOASTING BUT IT 14:48.821 --> 14:50.123 ALSO HELPS TO LOOK AT THE FACTS. 14:50.123 --> 14:50.923 >> RIGHT. 14:50.923 --> 14:53.025 ANOTHER SOON TO BE COMPETITOR OF 14:53.025 --> 14:55.027 SORTS IS COMING FROM WITHIN YOUR 14:55.027 --> 14:56.829 SHOP AND ACTUALLY THIS ONE YOU 14:56.829 --> 14:58.531 WERE RUNNING THE PAPER, AND THAT 14:58.531 --> 15:02.435 IS THE EZRA KLEIN VERTICAL THAT 15:02.435 --> 15:03.436 HAS BEEN CREATED. 15:03.436 --> 15:04.937 I'M FASCINATED HOW THE BUSINESS 15:04.937 --> 15:07.039 THAT WE'RE IN AS EVOLVED OVER 15:07.039 --> 15:08.641 TIME, IT USED TO BE THE ONLY 15:08.641 --> 15:10.143 BRAND THAT MATTERED WERE THE 15:10.143 --> 15:13.146 INSTITUTIONAL BRAND, NOW THE 15:13.146 --> 15:14.847 INDIVIDUAL BRANDS THESE DAYS 15:14.847 --> 15:16.048 HAVE BEEN MORE LIKE ROCKET 15:16.048 --> 15:17.750 BOOSTERS FOR THE INSTITUTIONAL 15:17.750 --> 15:19.252 BRANDS, SOME INDIVIDUAL BRANDS 15:19.252 --> 15:21.654 LIKE EZRA WANT TO BE ROCKETS ON 15:21.654 --> 15:24.257 TO THEMSELVES, EZRA KLEIN 15:24.257 --> 15:26.859 SOMEWHAT FAMOUSLY CAME TO THE 15:26.859 --> 15:29.962 POST AND SAY I WANT TO START MY 15:29.962 --> 15:31.464 VERTICAL, HE LEFT, PEOPLE LEFT 15:31.464 --> 15:32.465 WITH HIM, TALK ABOUT HOW YOU 15:32.465 --> 15:33.366 THINK ABOUT THAT FROM A 15:33.366 --> 15:34.967 COMPETITIVE STANDPOINT, I GUESS 15:34.967 --> 15:36.469 IT'S EARLY TO TELL. 15:36.469 --> 15:37.670 >> LET ME CORRECT YOU, FIRST OF 15:37.670 --> 15:39.672 ALL. HE DID NOT COME TO US AND 15:39.672 --> 15:41.274 SAY I WANT TO START MY OWN 15:41.274 --> 15:42.175 VERTICAL IN THE PAPER. 15:42.175 --> 15:44.710 HE ALREADY HAD STARTED HIS OWN 15:44.710 --> 15:46.112 VERTICAL IN THE PAPER WHICH WE 15:46.112 --> 15:47.213 FUNDED TO THE TUNE OF MILLIONS 15:47.213 --> 15:48.815 OF DOLLARS PER YEAR. 15:48.815 --> 15:51.517 I'M NOT SURE OF A LOT OF PEOPLE 15:51.517 --> 15:52.919 HEARD OF EZRA KLEIN BEFORE HE 15:52.919 --> 15:54.020 WAS WORKING AT THE WASHINGTON 15:54.020 --> 15:55.421 POST AND WE FUNDED THAT 15:55.421 --> 15:56.022 OPERATION. 15:56.022 --> 15:57.523 VERY TALENTED GUY. 15:57.523 --> 15:59.325 WE INVESTED IN THAT, WE'RE 15:59.325 --> 16:02.028 INVESTING EVEN MORE IN THAT. 16:02.028 --> 16:04.030 THERE ISN'T ONE THING THAT WE 16:04.030 --> 16:06.532 REQUESTED FOR THAT EVENT VENTURE 16:06.532 --> 16:08.434 THAT WE DID NOT FUND INCLUDING 16:08.434 --> 16:09.635 2014. 16:09.635 --> 16:11.237 IT WAS NOT TO SAY I WANT TO 16:11.237 --> 16:12.138 START A VERTICAL INSIDE "THE 16:12.138 --> 16:14.140 WASHINGTON POST", WHAT HE SAID 16:14.140 --> 16:16.242 IS I INTEND TO START A VENTURE 16:16.242 --> 16:16.642 OUTSIDE OF "THE WASHINGTON 16:16.642 --> 16:18.044 POST", TOTALLY INDEPENDENT, THIS 16:18.044 --> 16:20.346 HAS NOTHING WHATSOEVER TO DO 16:20.346 --> 16:21.147 WITH "THE WASHINGTON POST", I 16:21.147 --> 16:22.548 WILL BE THE CEO, I WILL BE THE 16:22.548 --> 16:23.950 PRESIDENT, I WILL BE THE EDITOR 16:23.950 --> 16:24.851 IN CHIEF. 16:24.851 --> 16:27.353 I WILL SELECT THE TECHNOLOGY -- 16:27.353 --> 16:29.155 THE TECHNOLOGY THAT'S USED AND I 16:29.155 --> 16:30.456 WILL SELECT THE ADVERTISING. 16:30.456 --> 16:31.958 I WILL BE IN CHARGE OF THE 16:31.958 --> 16:33.559 ADVERTISING AS WELL, AND WHAT I 16:33.559 --> 16:35.661 WOULD LIKE TO KNOW IS WHETHER 16:35.661 --> 16:39.165 JEFF BEZOS WOULD BE WILLING TO 16:39.165 --> 16:39.765 FUND THAT. 16:39.765 --> 16:40.967 THAT'S WHAT HAPPENED, NOT I WANT 16:40.967 --> 16:42.869 TO START SOMETHING OR EXPAND 16:42.869 --> 16:44.403 SOMETHING WITHIN THE UMBRELLA OF 16:44.403 --> 16:44.804 "THE WASHINGTON POST". 16:44.804 --> 16:46.706 >> OF COURSE THE PERCEPTION OUT 16:46.706 --> 16:48.407 IN THE WORLD IS THAT SOMEHOW YOU 16:48.407 --> 16:50.109 LET HIM GO, BUT THE REALITY IT 16:50.109 --> 16:51.110 SOUNDS LIKE FROM YOUR 16:51.110 --> 16:52.211 DESCRIPTION, HE WAS PLANNING TO 16:52.211 --> 16:55.014 GO ANYWAY, IT WAS A QUESTION -- 16:55.014 --> 16:56.716 >> IT PAINS ME TO SAY THIS, SOME 16:56.716 --> 16:57.917 TIMES THE REPORTING IS NOT 16:57.917 --> 16:58.317 ACCURATE. 16:58.317 --> 16:59.018 [ LAUGHTER ] 16:59.018 --> 17:00.820 SO THAT WAS NOT -- THAT WAS NOT 17:00.820 --> 17:02.922 ACCURATE REPORTING. 17:02.922 --> 17:06.225 IT LEFT A GROSS MISIMPRESSION. 17:06.225 --> 17:07.727 HE DID NOT ASK TO DO ANYTHING, 17:07.727 --> 17:09.328 THE FIRST PERSON HE CAME TO AT A 17:09.328 --> 17:10.730 SENIOR LEVEL WAS ME, THE FIRST 17:10.730 --> 17:12.832 THING HE SAID, I WANT TO START A 17:12.832 --> 17:14.033 NEWS ORGANIZATION INDEPENDENT OF 17:14.033 --> 17:16.435 THE WASHINGTON POST, MY OWN NEWS 17:16.435 --> 17:17.236 ORGANIZATION AND WHAT I WOULD 17:17.236 --> 17:19.238 LIKE TO KNOW IS WHETHER JEFF 17:19.238 --> 17:21.340 BEZOS IS WILLING TO FUND THIS. 17:21.340 --> 17:23.442 JEFF BEZOS HAD INVESTED 17:23.442 --> 17:24.243 $250 MILLION IN THE WASHINGTON 17:24.243 --> 17:25.745 POST WITH THE INTENTION OF 17:25.745 --> 17:27.847 INVESTING EVEN MORE IN IT AS HE 17:27.847 --> 17:28.948 IS DOING THIS YEAR. 17:28.948 --> 17:30.449 HE ALSO HAS AN INVESTMENT IN 17:30.449 --> 17:31.751 BUSINESS INSIDER, AND HE'S 17:31.751 --> 17:35.254 INCREASED HIS INVESTMENT IN THE 17:35.254 --> 17:37.857 BUSINESS INSIDER. 17:37.857 --> 17:40.760 IT'S UP TO JEFF BEZOS IF HE 17:40.760 --> 17:42.161 WANTS TO INVEST IN SOMETHING 17:42.161 --> 17:42.862 ELSE. 17:42.862 --> 17:44.196 THE TRUTH IS, I DON'T HAVE A 17:44.196 --> 17:45.998 VENTURE CAPITAL FUND AVAILABLE 17:45.998 --> 17:48.100 TO ME, I HAVE MY NEWSROOM 17:48.100 --> 17:49.802 BUDGET, WHEN SOMEBODY COMES AND 17:49.802 --> 17:51.203 SAYS I WOULD LIKE TO START THIS 17:51.203 --> 17:53.105 AND THE AMOUNT OF MONEY REQUIRED 17:53.105 --> 17:55.408 IS 10% OF WHAT MY NEWSROOM 17:55.408 --> 17:57.209 BUDGET IS, I'M NOT ABLE TO FUND 17:57.209 --> 17:58.511 THAT, THE OWNER OF THE COMPANY, 17:58.511 --> 18:01.113 THE PERSON WHO OWNS 100% OF THE 18:01.113 --> 18:02.615 COMPANY IS THE ONLY PERSON WHO 18:02.615 --> 18:03.916 CAN MAKE THAT DECISION, AND AS I 18:03.916 --> 18:05.818 SAID, IT WAS NEVER HIS INTENTION 18:05.818 --> 18:07.219 TO START WITHIN "THE WASHINGTON 18:07.219 --> 18:08.721 POST", IT WAS ALWAYS HIS 18:08.721 --> 18:09.622 INTENTION TO START OUTSIDE "THE 18:09.622 --> 18:10.122 WASHINGTON POST". 18:10.122 --> 18:11.424 >> SO LET ME REFRAME THE 18:11.424 --> 18:11.724 QUESTION. 18:11.724 --> 18:13.326 YOU KNOW, I THINK OF THIS AS THE 18:13.326 --> 18:16.028 EZRA KLEINING OF JOURNALISM, NOW 18:16.028 --> 18:17.229 EVERYBODY WANTS TO BE THEIR OWN 18:17.229 --> 18:19.432 ENTITIES OR A LOT OF PEOPLE DO. 18:19.432 --> 18:21.233 IS THIS A GOOD THING FOR OUR 18:21.233 --> 18:24.737 BUSINESS OR BAD THING. 18:24.737 --> 18:26.439 >> I THINK IT'S ACTUALLY A GOOD 18:26.439 --> 18:27.740 THING FOR THE BUSINESS. 18:27.740 --> 18:29.442 I THINK IT'S A SIGN OF HEALTH, 18:29.442 --> 18:29.742 ACTUALLY. 18:29.742 --> 18:31.644 I THINK, YOU KNOW, MORE POWER TO 18:31.644 --> 18:33.045 HIM, I WISH HIM THE BEST OF 18:33.045 --> 18:33.346 LUCK. 18:33.346 --> 18:35.247 I HAVE, YOU KNOW, IT'S FINE, THE 18:35.247 --> 18:37.650 FACT IS THERE'S NOW CAPITAL TO 18:37.650 --> 18:40.252 START ENTREPRENEURIAL VENTURES 18:40.252 --> 18:41.554 IN THE MEDIA INDUSTRY, THAT'S 18:41.554 --> 18:42.555 NOT A BAD THING FROM, THE 18:42.555 --> 18:43.456 STANDPOINT OF THE INFORMATION 18:43.456 --> 18:44.890 CONSUMER, THAT'S A GOOD THING, 18:44.890 --> 18:48.294 SO I DON'T BEGRUDGE ANYBODY THAT 18:48.294 --> 18:49.495 OPPORTUNITY F. HE HAS THE 18:49.495 --> 18:50.696 ENTREPRENEURIAL ITCH, HE WANTS 18:50.696 --> 18:53.699 TO DO IT, TRY IT, FIND FUNDING, 18:53.699 --> 18:55.601 WHICH HE HAS, MORE POWER TO HIM, 18:55.601 --> 18:55.801 THAT'S GREAT. 18:55.801 --> 18:57.003 I THINK THAT'S A SIGN OF HEALTH 18:57.003 --> 18:58.504 IN OUR INDUSTRY, RATHER THAN ANY 18:58.504 --> 19:05.311 OTHER SIGN OF DYSFUNCTION. 19:05.311 --> 19:07.513 HE'S HIRING YOUNG PEOPLE IN 19:07.513 --> 19:08.814 PARTICULAR, AND GREAT, THAT'S 19:08.814 --> 19:10.016 OPPORTUNITY FOR THOSE PEOPLE, 19:10.016 --> 19:11.917 AND THEY WILL BRING THEIR OWN 19:11.917 --> 19:13.219 PERSONALITY TO COVERAGE OF THE 19:13.219 --> 19:15.721 NEWS AND PUBLIC POLICY, AND 19:15.721 --> 19:17.323 THAT'S -- THAT'S FANTASTIC, BUT 19:17.323 --> 19:19.925 WHAT HE'S DOING THERE, HE AND 19:19.925 --> 19:21.327 MANY OF HIS PEOPLE WERE DOING AT 19:21.327 --> 19:22.328 THE WASHINGTON POST. 19:22.328 --> 19:24.830 >> THE BLOG CONTINUES. 19:24.830 --> 19:27.533 >> THE BLOG CONTINUES, WE HAVE 19:27.533 --> 19:29.035 GOV FEED, WE HAVE THE FIX FOR 19:29.035 --> 19:31.837 POLITICS, WE HAVE WORLD VIEWS 19:31.837 --> 19:34.740 FOR INTERNATIONAL AFFAIRS, WE'RE 19:34.740 --> 19:36.342 STARTING NEW PUBLIC POLICY 19:36.342 --> 19:38.044 BLOGS, SO ALL OF THAT REMAINS A 19:38.044 --> 19:41.747 VIBRANT AREA OF COVERAGE FOR US, 19:41.747 --> 19:43.349 IT'S SOMETHING HE DID WHEN HE 19:43.349 --> 19:44.884 WAS AT THE WASHINGTON POST. 19:44.884 --> 19:46.185 SOME OF HIS COLLEAGUES WERE 19:46.185 --> 19:47.086 DOING AT THE WASHINGTON POST AND 19:47.086 --> 19:47.987 IT'S SOMETHING THAT WE CONTINUE 19:47.987 --> 19:49.689 TO DO AND ACTUALLY EXPAND UPON. 19:49.689 --> 19:52.892 >> MR. BEZOS' NAME HAS COME UP A 19:52.892 --> 19:54.193 COUPLE OF TIMES, LET ME GO 19:54.193 --> 19:54.393 THERE. 19:54.393 --> 19:55.995 THE JOKE -- YOU KNOW, IT 19:55.995 --> 19:57.496 SHOULDN'T SURPRISE YOU, AGAIN. 19:57.496 --> 19:58.698 >> I'M SHOCKED. 19:58.698 --> 19:59.999 >> THE FACT OF HIS OWNERSHIP OF 19:59.999 --> 20:02.401 THE POST IS OF SOME CURIOSITY TO 20:02.401 --> 20:04.603 PEOPLE OF THE WORLD WE LIVE IN, 20:04.603 --> 20:05.704 AND OUTSIDE THE WORLD THAT WE 20:05.704 --> 20:07.406 LIVE, IN THE JOKES ARE MADE, THE 20:07.406 --> 20:09.208 PAPER WILL NOW BE DELIVERED BY 20:09.208 --> 20:11.010 DRONES OR CHRISTMAS BONUSES WILL 20:11.010 --> 20:16.215 COME TO PEOPLE'S HOUSES IN TWO 20:16.215 --> 20:17.516 DAY, FREE SHIPPING. 20:17.516 --> 20:19.218 PUTTING ALL THAT STUFF TO THE 20:19.218 --> 20:21.420 SIDE, YOU WORKED FOR THE 20:21.420 --> 20:26.525 SULZBERGER'S, THEY'RE NOT 20:26.525 --> 20:27.426 EXACTLY PAUPERS. 20:27.426 --> 20:28.527 WHAT IS THE DIFFERENCE IN 20:28.527 --> 20:30.830 WORKING FOR MR. BEZOS FROM WHAT 20:30.830 --> 20:33.933 YOU CAN TELL THAN THE FOLKS YOU 20:33.933 --> 20:35.434 WORKED FOR PREVIOUSLY OR DOES 20:35.434 --> 20:37.236 THE OWNERSHIP ENTER INTO THE 20:37.236 --> 20:39.538 OCCASION DESPITE HIS LARGE 20:39.538 --> 20:39.638 BRAND. 20:39.638 --> 20:41.340 >> I THINK OWNERSHIP MAKES A 20:41.340 --> 20:42.541 DIFFERENCE WITH RESPECT TO OUR 20:42.541 --> 20:43.742 PRESENT CIRCUMSTANCES. 20:43.742 --> 20:45.778 HE IS VERY INTERESTED IN OUR 20:45.778 --> 20:48.280 FUTURE, HE SEES ENORMOUS VALUE 20:48.280 --> 20:49.181 IN THE BRAND OF THE WASHINGTON 20:49.181 --> 20:50.783 POST, CORRECTLY IN MY VIEW. 20:50.783 --> 20:52.985 HE IS MAKING SUBSTANTIAL 20:52.985 --> 20:53.586 INVESTMENTS. 20:53.586 --> 20:55.087 WE HAVE STARTED ALL SORTS OF 20:55.087 --> 20:56.989 INITIATIVES, WE'RE HIRING IN THE 20:56.989 --> 20:59.391 NEWS ROOM ALONE, THREE DOZEN 20:59.391 --> 21:00.793 PEOPLE, THAT DOESN'T INCLUDE 21:00.793 --> 21:02.294 PEOPLE IN THE TECHNOLOGY AREA. 21:02.294 --> 21:05.197 >> SINCE HE ARRIVED. 21:05.197 --> 21:08.000 NOT PLAN IN PLACE PREVIOUS. 21:08.000 --> 21:09.401 >> THAT'S CORRECT. 21:09.401 --> 21:11.904 SO ALL OF THAT IS POSITIVE, HE'S 21:11.904 --> 21:14.206 VERY MUCH A PERSON WHO IS A 21:14.206 --> 21:15.007 STRATEGIC THINKER. 21:15.007 --> 21:16.408 HE UNDERSTANDS THE TECHNOLOGY 21:16.408 --> 21:17.309 PERHAPS BETTER THAN ANYBODY IN 21:17.309 --> 21:18.310 THE WORLD. 21:18.310 --> 21:20.212 HE UNDERSTANDS CONSUMERS, 21:20.212 --> 21:22.014 EXTREMELY WELL, THAT'S AN 21:22.014 --> 21:24.216 IMPORTANT PART OF IT TOO, IT'S 21:24.216 --> 21:26.318 NOT JUST A TECHNOLOGICAL PLAY, 21:26.318 --> 21:28.120 UNDERSTANDING WHAT THE CONSUMER 21:28.120 --> 21:28.420 WANTS. 21:28.420 --> 21:28.921 >> AUDIENCE. 21:28.921 --> 21:31.123 >> UNDERSTANDING WHAT CONSUMERS. 21:31.123 --> 21:33.025 >> CONSUMERS IN HIS CASE ARE 21:33.025 --> 21:33.626 AUDIENCE. 21:33.626 --> 21:37.029 >> BUT AUDIENCE SUGGESTS SORT OF 21:37.029 --> 21:38.430 AN US DELIVERING TO THEM, 21:38.430 --> 21:40.633 CONSUMER SAYS IT'S THE FOCUS ON 21:40.633 --> 21:42.034 WHAT ARE THEY REALLY INTERESTED 21:42.034 --> 21:42.134 IN. 21:42.134 --> 21:44.370 >> BUT HIS INNOVATION IN AMAZON 21:44.370 --> 21:46.272 HAS BEEN AMONG OTHER THINGS TO 21:46.272 --> 21:47.773 FIGURE OUT HOW TO CONNECT TO 21:47.773 --> 21:48.574 PEOPLE WHO ARE POTENTIAL 21:48.574 --> 21:49.175 CONSUMERS. 21:49.175 --> 21:49.575 >> RIGHT. 21:49.575 --> 21:51.377 >> AND ONE OF THE THINGS IN THE 21:51.377 --> 21:53.279 NEWSPAPER BUSINESS, IT WRESTLES 21:53.279 --> 21:55.781 WITH THIS AUDIENCE, HOW DO YOU 21:55.781 --> 21:57.082 REACH PEOPLE IN THIS CURRENT 21:57.082 --> 21:58.884 ENVIRONMENT, HIS SUCCESS AT THAT 21:58.884 --> 22:01.086 CAN BE TRANSLATED ONE HOPES -- 22:01.086 --> 22:02.388 >> DIFFERENT BUSINESS THAN 22:02.388 --> 22:04.890 SELLING BOOKS AND SELLING VACUUM 22:04.890 --> 22:07.092 CLEANERS AND SELLING ALL OF THE 22:07.092 --> 22:07.993 THINGS THAT ARE AVAILABLE ON 22:07.993 --> 22:09.295 AMAZON, WHICH IS ESSENTIALLY 22:09.295 --> 22:09.495 EVERYTHING. 22:09.495 --> 22:09.995 >> RIGHT. 22:09.995 --> 22:11.897 >> BUT IT'S DIFFERENT IN A 22:11.897 --> 22:14.200 CERTAIN WAY, BUT HE DOES BRING 22:14.200 --> 22:17.002 SORT OF NEW THINKING TO THAT, 22:17.002 --> 22:18.504 AND I THINK VERY SMART THINKING 22:18.504 --> 22:20.005 AND HE'S WILLING TO ASK 22:20.005 --> 22:21.507 PROVOCATIVE QUESTIONS AND 22:21.507 --> 22:22.908 CHALLENGE US, AND WILLING TO 22:22.908 --> 22:23.709 HAVE US CHALLENGE HIM. 22:23.709 --> 22:25.511 >> THE POST IS A LEGACY NEWS 22:25.511 --> 22:27.213 ORGANIZATION WHICH CAN BE USED 22:27.213 --> 22:28.814 AS A NEGATIVE DESCRIPTOR. 22:28.814 --> 22:31.217 I DON'T MEAN IT THAT WAY. 22:31.217 --> 22:33.018 I'VE BEEN AT THAT AWHILE, 22:33.018 --> 22:34.420 THERE'S OTHER NEWS ORGANIZATIONS 22:34.420 --> 22:35.621 THAT HAVE BEEN AT THIS LESS TIME 22:35.621 --> 22:37.723 AND DON'T HAVE THE SAME 22:37.723 --> 22:38.324 TRADITION THAT "THE WASHINGTON 22:38.324 --> 22:40.526 POST" HAS INFUSED IN THIS NEWS 22:40.526 --> 22:42.027 ROOM, AND I WONDER IF PEOPLE 22:42.027 --> 22:43.929 THERE, BELOW THE LEVEL OF MARTIN 22:43.929 --> 22:46.565 BARON ARE RESISTANT TO THE 22:46.565 --> 22:50.569 GUY -- IDEA OF THIS GUY WHO 22:50.569 --> 22:52.071 DOESN'T HAVE A JOURNALISTIC 22:52.071 --> 22:53.572 BACKGROUND, WHO BOUGHT THE 22:53.572 --> 22:55.774 PAPER, SUDDENLY BEING A FIGURE 22:55.774 --> 22:57.176 IN THEIR LIVES? 22:57.176 --> 22:59.578 HAS THERE BEEN ANY PUSH BACK 22:59.578 --> 23:00.179 AGAINST THIS. 23:00.179 --> 23:03.482 >> PEOPLE REVERE THE PREVIOUS 23:03.482 --> 23:05.084 OWNERSHIP, THE GRAHAM FAMILY, 23:05.084 --> 23:07.486 DON GRAHAM, PEOPLE REVERE THE 23:07.486 --> 23:10.089 FAMILY AND ITS ROLE IN THAT 23:10.089 --> 23:11.390 ORGANIZATION APPROPRIATELY SO. 23:11.390 --> 23:12.892 THEY BUILT AN INCREDIBLE 23:12.892 --> 23:13.692 ORGANIZATION. 23:13.692 --> 23:14.593 TALK ABOUT THE VALUE OF THE 23:14.593 --> 23:16.295 BRAND, THAT VALUE OF THE BRAND 23:16.295 --> 23:18.497 WOULDN'T EXIST WITHOUT THAT -- 23:18.497 --> 23:21.800 >> AS MUCH A GRAHAM BRAND AS IT 23:21.800 --> 23:22.501 WAS A POST BRAND. 23:22.501 --> 23:23.102 >> YEAH. 23:23.102 --> 23:24.403 ON THE OTHER HAND, DON GRAHAM 23:24.403 --> 23:26.605 HAS ADMITTED THEY WEREN'T QUITE 23:26.605 --> 23:28.207 SURE WHAT TO DO AT THIS POINT, 23:28.207 --> 23:29.708 THIS HAS BEEN A VERY DIFFICULT 23:29.708 --> 23:31.110 TIME IN OUR INDUSTRY, AND HE WAS 23:31.110 --> 23:32.912 TRYING TO FIND A BUYER WHO COULD 23:32.912 --> 23:34.613 BRING SOME NEW THINKING TO OUR 23:34.613 --> 23:37.116 INDUSTRY, AND I THINK THAT JEFF 23:37.116 --> 23:39.218 BEZOS DOES THAT, HAS DONE THAT, 23:39.218 --> 23:40.519 AND THAT'S A PLUS, HE ALSO 23:40.519 --> 23:41.921 BRINGS RESOURCES. 23:41.921 --> 23:43.222 HE BRINGS A LONG-TERM 23:43.222 --> 23:44.657 PERSPECTIVE, HE'S NOT LOOKING 23:44.657 --> 23:47.760 FOR A -- LET'S MAKE AN 23:47.760 --> 23:48.661 INVESTMENT IN THREE MONTHS THAT 23:48.661 --> 23:50.362 HAS TO PAY OFF OR EVEN WITHIN 23:50.362 --> 23:52.064 THE FIRST YEAR IT HAS TO PAY 23:52.064 --> 23:54.767 OFF, HE RECOGNIZES WE HAVE TO 23:54.767 --> 23:55.768 EXPERIMENT, HE'S TALKED ABOUT 23:55.768 --> 23:57.269 GIVING US RUNWAY, WHICH SUGGESTS 23:57.269 --> 23:58.170 A LONG-TERM HORIZON. 23:58.170 --> 24:00.172 >> IF YOU'RE A REPORTER AND YOU 24:00.172 --> 24:01.073 HEAR THEM TALKING ABOUT A 24:01.073 --> 24:03.375 LONG-TERM HORIZON, YOU'VE GOT TO 24:03.375 --> 24:05.077 THINK I FEEL MUCH BETTER ABOUT 24:05.077 --> 24:05.477 MY JOB. 24:05.477 --> 24:06.078 >> ABSOLUTELY. 24:06.078 --> 24:08.080 IT DOESN'T MEAN FOREVER, BUT IT 24:08.080 --> 24:09.481 DOES MEAN THAT WE HAVE TIME TO 24:09.481 --> 24:11.183 EXPERIMENT, WE HAVE TIME TO TRY 24:11.183 --> 24:12.584 THINGS, WE HAVE TIME TO LET 24:12.584 --> 24:13.986 THINGS SETTLE IN AND SEE WHAT WE 24:13.986 --> 24:14.486 CAN DO. 24:14.486 --> 24:15.287 >> YEAH. 24:15.287 --> 24:16.889 >> AND HE'S SUPPORTING THAT, AND 24:16.889 --> 24:18.791 I THINK PEOPLE ARE EMBRACING 24:18.791 --> 24:20.292 THAT, I HAVEN'T DETECTED ANY 24:20.292 --> 24:21.794 RESISTANCE TO THAT AT ALL. 24:21.794 --> 24:23.195 >> A YEAR FROM NOW, WE HAVE A 24:23.195 --> 24:24.797 MINUTE LEFT, A YEAR FROM NOW, IF 24:24.797 --> 24:26.699 YOU'RE SITTING ME, WHAT ARE YOU 24:26.699 --> 24:28.200 GOING TO TELL ME DIFFERENT THAN 24:28.200 --> 24:29.601 WHAT YOU TOLD ME TODAY. 24:29.601 --> 24:31.303 WHAT ARE YOUR TWO BIG GOALS FOR 24:31.303 --> 24:32.104 THE NEXT YEAR OUT. 24:32.104 --> 24:33.806 >> WE HAVE ESSENTIALLY TWO 24:33.806 --> 24:35.908 GOALS, BASICALLY, ONE IS DIGITAL 24:35.908 --> 24:38.110 TRANSFORMATION OF OUR -- OF OUR 24:38.110 --> 24:39.712 ORGANIZATION, OF OUR NEWS ROOM 24:39.712 --> 24:40.612 AND THE REST OF OUR ORGANIZATION 24:40.612 --> 24:41.313 AS WELL. 24:41.313 --> 24:43.415 WE'VE MADE ENORMOUS PROGRESS. 24:43.415 --> 24:45.017 THERE HASN'T BEEN RESISTANCE TO 24:45.017 --> 24:46.218 THAT, BUT WE HAVE A LOT OF 24:46.218 --> 24:47.119 THINGS TO DO. 24:47.119 --> 24:48.320 SO WE WANT TO TRANSFORM 24:48.320 --> 24:50.322 OURSELVES AND BECOME I THINK IN 24:50.322 --> 24:52.424 THE TRUEST SENSE A DIGITAL 24:52.424 --> 24:52.725 ORGANIZATION. 24:52.725 --> 24:56.328 AND THE OTHER IS THAT TO BE 24:56.328 --> 24:58.831 AMBITIOUS JOURNALISTICALLY, WE 24:58.831 --> 25:00.232 TALK ABOUT A YEAR OF AMBITION AT 25:00.232 --> 25:02.234 THE POST, IT'S IMPORTANT TO DO 25:02.234 --> 25:03.535 THE KINDS OF THINGS WE WERE 25:03.535 --> 25:05.637 TALKING ABOUT AT THE BEGINNING 25:05.637 --> 25:06.638 OF THIS CONVERSATION, AGENDA 25:06.638 --> 25:08.440 SETTING JOURNALISM, JOURNALISM 25:08.440 --> 25:10.042 THAT MAKES AN ACTUAL DIFFERENCE, 25:10.042 --> 25:11.043 BOTH OF THOSE ARE IMPORTANT TO 25:11.043 --> 25:12.444 US, AND NEITHER CAN BE 25:12.444 --> 25:13.145 SACRIFICED. 25:13.145 --> 25:14.246 >> GREAT, YOU'LL HAVE THE 25:14.246 --> 25:16.048 RESOURCES TO DO IT, AS YOU SAY, 25:16.048 --> 25:17.649 AND THAT'S A GOOD THING. 25:17.649 --> 25:18.650 MARTY, GOOD LUCK. 25:18.650 --> 25:19.051 >> THANK YOU. 25:19.051 --> 25:20.953 >> WE'RE ALL WATCHING YOU WITH 25:20.953 --> 25:22.254 NERVOUSNESS AND HOPE. 25:22.254 --> 25:24.857 YOUR OPTIMISM NEEDS TO BE 25:24.857 --> 25:28.260 CONTAGIOUS FOR THE NEXT OF US. 25:28.260 --> 25:29.461 THANKS VERY MUCH. 25:29.461 --> 25:29.862 THANK YOU. 25:29.862 --> 25:30.462 [ APPLAUSE ] 25:30.462 --> 25:34.366 >> WE'D LOVE TO HAVE YOU JOIN US 25:34.366 --> 25:35.567 IN THE STUDIO, VISIT OUR WEBSITE 25:35.567 --> 25:40.672 AT KLRU.ORG/OVERHEARD TO FIND 25:40.672 --> 25:43.675 INVITATIONS TO INTERVIEWS, Q AND 25:43.675 --> 25:45.811 As WITH OUR AUDIENCE AND GUEST 25:45.811 --> 25:49.715 AND AN ARCHIVE OF PAST 25:49.715 --> 25:51.417 INTERVIEWS. 25:51.417 --> 25:53.118 >> WHEN YOU HAVE A SHOOTING AT 25:53.118 --> 25:55.220 FT. HOOD, THE FIRST THING WE DO 25:55.220 --> 25:57.122 IS REPORT THERE'S A SHOOTING AT 25:57.122 --> 25:58.724 FORD HOOD, WE DON'T KNOW HAVE 25:58.724 --> 26:00.025 MUCH ABOUT IT, BUT WE'RE GOING 26:00.025 --> 26:02.628 TO FIND OUT MORE ABOUT IT, AS WE 26:02.628 --> 26:04.029 DO GET THAT ADDITIONAL 26:04.029 --> 26:05.330 INFORMATION, WE POST THAT, THE 26:05.330 --> 26:06.832 IMPORTANT THING IS TO MAKE SURE 26:06.832 --> 26:08.133 THAT WE DON'T POST INFORMATION 26:08.133 --> 26:10.836 THAT IS IN FACT INCORRECT. 26:10.836 --> 26:18.844 >> FUNDING FOR "OVERHEARD" WITH 26:18.844 --> 26:21.046 EVAN SMITH IS PROVIDED IN PART 26:21.046 --> 26:23.449 BY MFI FOUNDATION, IMPROVING THE 26:23.449 --> 26:25.150 QUALITY OF LIFE WITHIN OUR 26:25.150 --> 26:26.652 COMMUNITY AND FROM THE TEXAS 26:26.652 --> 26:28.153 BOARD OF LEGAL SPECIALIZATION, 26:28.153 --> 26:29.455 BOARD CERTIFIED ATTORNEYS IN 26:29.455 --> 26:31.156 YOUR COMMUNITY, EXPERIENCED, 26:31.156 --> 26:32.758 RESPECTED AND TESTED. 26:32.758 --> 26:35.060 ALSO BY HILLCO PARTNERS. 26:35.060 --> 26:36.361 TEXAS GOVERNMENT AFFAIRS 26:36.361 --> 26:37.963 CONSULTANCY, AND ITS GLOBAL 26:37.963 --> 26:39.465 HEALTH CARE CONSULTING BUSINESS 26:39.465 --> 26:41.066 UNIT, HILLCO HEALTH. 26:41.066 --> 26:42.968 AND BY THE ALICE KLEBERG 26:42.968 --> 26:44.102 REYNOLDS FOUNDATION. 26:44.102 --> 26:45.604 AND VIEWERS LIKE YOU. 26:45.604 --> 26:45.904 THANK YOU. 26:45.904 --> 27:13.732 >> THIS WEEK ON "OVERHEARD", 27:13.732 --> 27:14.833 WASHINGTON POST EXECUTIVE EDITOR 27:14.833 --> 27:16.635 MARTIN BARON. 27:16.635 --> 27:18.537 >> LOCAL COVERAGE IS SORT OF THE 27:18.537 --> 27:19.638 ROOTS OF THE TREE. 27:19.638 --> 27:22.441 ANY STRONG TREE HAS TO HAVE VERY 27:22.441 --> 27:24.343 STRONG ROOTS IT ALSO HAS THE 27:24.343 --> 27:25.744 TRUNK AND IT HAS THE BRANCHES, 27:25.744 --> 27:28.046 THE ROOTS FOR A METROPOLITAN 27:28.046 --> 27:29.047 NEWSPAPER LIKE THE POST, EVEN 27:29.047 --> 27:30.249 THOUGH IT HAS A NATIONAL AND 27:30.249 --> 27:32.050 INTERNATIONAL PORTFOLIO ARE IN 27:32.050 --> 27:33.252 ITS LOCAL COVERAGE. 27:33.252 --> 27:34.953 IT HAS TO BE EXCELLENT AT THAT. 27:34.953 --> 27:36.755 IT ALSO HAS TO BE EXCELLENT AT 27:36.755 --> 27:37.756 OTHER THINGS.