buzzfeed

Rapid Response with Bob Safian: If the most prestigious aspect of your business isn’t paying dividends, should you leave it in the past? BuzzFeed’s co-founder and CEO, Jonah Peretti discusses the surprising decision to shutter the Pulitzer Prize-winning BuzzFeed News, and how the company seeks to re-anchor toward the bright future of media. In his third appearance on Rapid Response, Peretti shares lessons about redefining the tool of social media, leading a private versus public business, and how to tune-out the external noise.

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BuzzFeed is tanking- we talk about what it means for its employees and the company (2:07). Next, we discuss Uber Eats coming for GoldBelly (23:51), then we cover the EU mandating that USB-C ports be standard by 2024 (36:17). We close out the show with our Startup of the Day in the sports space (41:21) and a We Live in the Future in the ear transplant space (49:42).

0:00 Jason and Molly tee up today’s news stories
2:07 BuzzFeed shares dropped 41%, their worst one-day % drop
11:23 OpenPhone - Get an extra 20% off any plan for your first 6 months at https://openphone.com/twist
12:37 “Media + something,” making media viable
22:34 Squarespace - Use offer code TWIST to save 10% off your first purchase of a website or domain at https://Squarespace.com/TWIST
23:51 Uber Eats coming for GoldBelly
35:03 Thorne - Personalized, scientific wellness. Go to https://Thorne.com/u/TWIST
36:17 European Parliament ruled USB Type-C port standard for all EU mobile phones, tablets, and cameras by Fall 2024
41:21 SotD: Religion of Sports, sports media production company co-founded by Tom Brady, Michael Strahan and Gotham Chopra, raised $5M in Series B funding
49:42 WLitF: Texas woman received 3D printed ear transplant made from sample of her cells (3DBio Therapeutics)
56:45 If you are a founder pre-series A, you are invited to our Founder University Two-Day intensive on June 13-14!

BuzzFeed audience is at record highs. But the pandemic's economic effects have crushed the bottom line. BuzzFeed co-founder and CEO Jonah Peretti shares how his company is making hard decisions to build long-term stability. “But the transition is painful,” he says. While BuzzFeed is leaning into food vertical Tasty, new e-commerce habits, and BuzzFeed News, he worries that businesses like his don't have more resources to support staffers of color. But, he says, there's a clarity of purpose in crisis, in bearing witness to the things that are happening in the world. Interviewed by editor Bob Safian.

Read a transcript of this episode at https://mastersofscale.com

Subscribe to the Masters of Scale weekly newsletter at https://mastersofscale.com/subscribe

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.