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Vox Media Podcast Network

Media and tech aren’t just intersecting — they’re fully intertwined. And to understand how those worlds work, and what they mean for you, veteran journalist Peter Kafka talks to industry leaders, upstarts and observers - and gets them to spell it out in plain, BS-free English.
Part of the Vox Media Podcast Network.

Recode Media with Peter Kafka

Newsletters are not a new idea. Yet every few years the media business rediscovers them, anyway — either as a way to quickly launch a startup with bigger ambitions, or as a standalone business. Tim Huelskamp took the second route in 2017, when he co-founded 1440 — a newsletter that promises to quickly bring you the most important news of the day. Again — not a new idea. But Huelskamp seems to have figured out how to build something pretty big: He says 1440 has 4 million readers, and is turning a profit on something like $20 million in annual revenue. How’d he do it? What’s he going to do next? And how will he compete with AI companies that can do all of this faster, and cheaper? I’m glad you asked: I’ve got the same questions, so I asked him myself.
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1440’s newsletters are short, popular and profitable

I don’t love a lot of year-end #content . But I do love talking to Bloomberg’s Lucas Shaw every year, to help put the year in media in perspective, and to think about what might be coming in 2025. And that’s exactly what we did here. Enjoy it now, or over your break. We’ll see you again in January.
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Looking back, and ahead, with Bloomberg’s Lucas Shaw

I’m a lucky man. Whenever I’m baffled by the internet, and social media, I turn to my co-worker Katie Notopoulos, who is there to explain it to me. That’s because Katie’s job at Business Insider is to explain how the internet works — how the people who run big internet platforms want it to work, and what the people who actually use those platforms do on it, for better and for worse. So that’s what we’re talking about today, to help ease us into the new year.
Discussed here: Why Katie still loves the internet and technology, even with all of its many warts; how she came to be a professional chronicler of the internet; how her views on all of this are changing as her kids grow older; and poop. Lots of poop talk here. You’re gonna love it.
Note: We recorded this chat on January 6 — a day before Mark Zuckerberg announced he was going to reshape his entire company to accommodate the upcoming Trump administration. So that’s why it’s not in this conversation. Rest assured - we’ll be talking about this a lot in future episodes. Happy 2025!
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Why Katie Notopoulos still loves the internet

Why didn’t Meta’s stock move when Mark Zuckerberg announced his pro-MAGA pivot? Why do big media companies want to dump their cable TV networks — but hang on to their broadcast TV networks? What’s going to happen in Google’s antitrust case?These are all good questions, right? I think so, too. So I posed them, along with many more, to MoffettNathanson’s Michael Nathanson, one of the sharpest Wall Street analysts covering tech and media. We cover a lot of ground in a short time, and I think you’ll enjoy this one.

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How does Wall Street think about Trump, media and tech?

TikTok banned itself for less than a day. Now it’s back in the U.S. - despite a law that says it shouldn’t be operating. We’re not going to weigh in on all of the… weirdness around the last few days on this episode, in part because we don’t know how it’s going to play out.
But in the meantime I wanted to talk to someone who knows how TikTok actually works — from a content creator’s perspective, at least. Adam Faze runs Gymnasium, a small production studio that specializes in TikTok videos, and so far it’s gone well: In 18 months, he’s launched two successful shows, signed up Amazon to sponsor one of them, and is ramping up to make more. He walked me through the way companies like his actually make money on TikTok, how the platform differs from TikTok clones like Instagram Reels, and how he thinks this could grow in the future. Assuming TikTok sticks around the U.S., that is.
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How TikTok (still) works

I haven’t checked in with Jessica Lessin in some time — and I have to say I picked a pretty good time to catch up with her. Because Silicon Valley is undergoing something meaningful right now, and she’s in a great position to tell us more about it: Lessin is a veteran technology reporter who founded The Information in 2013, and it has been a go-to for anyone who wants serious reporting about tech in the Bay Area and around the world, ever since.
Discussed in this episode: What’s really animating tech’s embrace of Donald Trump? What’s going to happen to TikTok? And what does the arrival of DeepSeek mean for the AI boom?
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How Silicon Valley really feels about Trump, TikTok and DeepSeek

It’s hard to remember now. But just a few years ago, sports betting was illegal in almost all of United States. And sports leagues and the media companies that worked with them wanted nothing to do with anything that even referenced gambling.
Things are very, very different now! And it happened so quickly that very few people have stopped to ask what any of this means for America, and what it will mean down the road.
Those questions — and the reasons why so few of us are posing them — turn out to be a great topic for Michael Lewis. You can hear him grappling with them in the excellent new season of his “Against the Rules” podcast series. And I was delighted to discuss all of it with him on my show. It also gave me an opportunity to discuss “The Fifth Risk” - his 2018 book about Donald Trump’s first attempt to take over federal government, which is extra-timely right now. And I couldn’t let him go without a brief chat about crypto and Sam Bankman-Fried.
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Why Michael Lewis is worried about the sports betting boom

A decade ago BuzzFeed was the bleeding edge of digital media, and Serious People thought it was going to be a threat to the likes of the New York Times. Many rounds of layoffs and asset sales later, BuzzFeed is a much more modest operation.
But say this for Jonah Peretti: He continues to pitch Very Big Ideas for his company. Now the BuzzFeed CEO thinks he can create an internet that doesn’t run on content that makes you feel lousy, and that he can also create his own social network. I am… skeptical, but I wanted to hear him out, and now you can make up your own mind.
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BuzzFeed wants to build a… social network?

Everyone knows that video games are giant, fast-growing business that's going to swamp traditional media.
Except that's not true: The games business is now in a prolonged and confusing funk. Investor and analyst Matthew Ball has been diving deep into the industry, so I asked him to take a stab at explaining what's going on. Bonus question: When does the face computer's moment finally arrive?
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Matthew Ball: Why the games business is broken

The most useful class I ever took in college was a media law class, where I learned two things: 1) Journalists in the U.S. (along every other American citizen) have enormous freedom to say and write what they want, without fear of a defamation suit and 2) this freedom exists largely because of New York Times v Sullivan, a seminal Supreme Court case.
Now NYT v Sullivan is under concerted attack, from a group that includes wealthy and powerful people and companies; lawyers who see an opportunity; and, of course, Donald Trump.
David Enrich, an editor who oversees business investigations at the Times, gets to do his work in large part because of the court precedent set decades ago. His upcoming book Murder the Truth takes us on a tour of incidents that show what losing NYT v Sullivan could mean for journalism in the U.S. — and how powerful people are already chipping away at press freedom.
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Free speech is under attack

Layoffs, Disney CEO take-backsies, and the Netflix of it all — this week, Recode’s Peter Kafka catches up on the not-that-upbeat media industry with Jessica Toonkel, deputy media editor at The Wall Street Journal. They discuss why Big Media companies of every variety are struggling to please investors, advertisers and users, and why good news isn’t coming anytime soon. Also: WTF is Netflix’s video game business going to be? (And if you do want to check out a Netflix-branded mobile game, "Into the Breach" is a good one.)

Featuring: Jessica Toonkel (@jtoonkel), Deputy Media Editor at The Wall Street Journal
Host: Peter Kafka (@pkafka), Senior Editor at Recode
More to explore: Subscribe for free to Recode Media, Peter Kafka, one of the media industry's most acclaimed reporters, talks to business titans, journalists, comedians, and more to get their take on today's media landscape.
About Recode by Vox: Recode by Vox helps you understand how tech is changing the world — and changing us.
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Why the media landscape is “dire” with WSJ’s Jessica Toonkel

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