Why Buzzfeed CEO Jonah Peretti Loves & Hates Facebook

When thinking about Vox Media and its troubles today, I was reminded of some recent comments by Buzzfeed CEO Jonah Peretti, on why platforms need to pay/help monetize their content in the news feed. I have watched with amusement how he has changed his tune on social media. But as they say, you can’t have your cake and eat it (too) 

OMG! Facebook is amazing!

On Facebook media is just another way to express your feelings and more importantly a way to do something with your friends. On Facebook you share things that define you. Think of your social content not as information you want to get into people’s heads, but as an excuse for people to react. The content matters, but [what matters] more importantly the ability to share a laugh with friend. Techcrunch 2011

Content is for connections, LOL

Facebook is much more tied to broad human emotion and things that everyone can relate to, and things that connect people with the people in their lives. It’s not so much about the information in the content; it’s about how that content allows you to connect with other people in your life. Fortune 2013

Let’s go fishing for eyeballs in the stream.

Social has really become the starting point — the Facebook newsfeed, the Twitter stream — where most people are finding their news and information now. Fortune 2013

Social media has helped us build a unique brand.

The emergence of social media initiated the convergence of content and communication. Content wasn’t just being consumed for informational value; it became a way for people to connect with other people in their lives. This opened up the possibility of building a more intimate connection with audiences. December 2016.

Pay me, waaah!

Google and Facebook are taking the vast majority of ad revenue, and paying content creators far too little for the value they deliver to users. This puts high-quality creators at a financial disadvantage, and favors publishers of cheap media December 2017

Oh damn, I got played by Zuck!

“I don’t think they fully understand the perspective of media or content or other industries. Or, on occasion, they interact with people at media companies and they don’t think they’re that smart.” Feb 2018

The End.

A letter from Om

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