Legacy media's mission to 'speak truth to power' devolved into using power over truth, intimidating people out of saying what they think, which means there's no longer any way to get a favorable story through traditional media.

9:05just, you know, and it was exci- you know, it was everything was exciting. And then the you know, then a lot of reporters and editors and you know, they they genuinely viewed it as like, "Oh, we need to like explain this to our readers and our viewers and really really have this come across." And then as as we like to say, like in 2017, it things changed. Um and basically since

9:21then, my view is that that sort of second mode of of of being, um you know, which is the sort of agenda-driven, you know, kind of really took over which which I think and I think probably will never never actually unwind. Um and so it's just the practical reality is we always tell the founders like there there is no way um to get to anything resembling a story

9:39that you're going to like through the traditional media anymore. Like it's just it it it's it's basically not possible." Um you know, every once in a while >> And you can land a story, but you can't run a strategy, yeah. >> Yeah, like you there there are also some people people point to individuals individuals with success and I'll just feel like, "Okay, that's the you know, that's the exception that proves the

9:55rule." Like you know, there's 99 others um you know, that are not like that. And so there there just needs needs to be a new approach. Then I think the new approach is comes in comes in two parts. It it comes in you know, what as we all call now go direct, which is you have to tell your own story increasingly through your own channels and through the

10:08channels of allies. And then the other thing is you know, new voices and new media. Um and because because the legacy press has gone so bananas, you know, obviously there's this just massive opportunity that's opened up uh you know, for for for the creation of new media and it's just like the examples meant you know, many many of them are in this room are just spectacular. I think I think with what's

10:27happening. Well, it it used to be it's actually really funny. It used to be even in the golden age media like Charlie like if you wanted to watch a smart person talk about something for an hour, it was Charlie Rose. And when I was a kid in the '80s, it was Charlie Rose midnight. Um it was something called the CBS Overnight CBS News Overnight and he was literally on at

10:45midnight and I would and this was like, you know, pre-the-VCR you'd stay up until midnight to watch a smart conversation. And and to go from that to what we have today with in in the podcast world and the Substack world is just such an incredible advance. Um and going incredibly well. So I think the new media world is just supremely, you know, just incredibly high quality, doing incredibly well. Um you know, but

11:03but there's still this anxiety that people have, which is the legacy media somehow is like where the I don't know I mean it it sounds so silly to say anymore, but like the respectability is the prestige is. And I I always I don't believe that anymore and I think it's very important for people to kind of get that out of their system cuz the world has changed.