Exploring Ethics in Gaming Journalism with Ben Smith

Today, I’m diving into a conversation with Ben Smith, the editor-in-chief of Semafor.

In a world where trust in media is dwindling, it’s ironic that consumption is at an all-time high. Audiences are shifting from traditional outlets to platforms like Substack, podcasts, and TikTok influencers that dominate our feeds. So, what drives someone to launch a new global news organization amidst this chaos, especially when even established names like CBS News are struggling to adapt?

That’s exactly what Ben did four years ago. He previously led BuzzFeed News during its peak, riding the wave of Facebook traffic, and even penned a book titled “Traffic,” which we discussed back in 2023.

Around that time, he co-founded Semafor, which debuted in 2022 with the ambitious goal of reaching 200 million college-educated readers. Ben describes Semafor as an “anti-scale” company. While it doesn’t have a paywall, about half of its revenue comes from hosting events—what many in the media now refer to as the convening business.

Semafor is making waves with its events, including a new one called “Silicon Valley & The World,” featuring some of the biggest names in tech and AI. I wanted to explore how this model works and how Semafor navigates the ethical dilemmas that are rampant in media today. Specifically, I was curious about their approach to AI, the ethics of having subjects on their advisory boards, and whether audiences still value independence enough to pay for it.

Ben and I usually discuss these topics over drinks, and you can tell we genuinely enjoy diving into these issues together.

So, without further ado, here’s my conversation with Semafor’s editor-in-chief, Ben Smith.

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Ben, welcome back to the show! It’s great to have you here again.

Thanks for having me back!

I’m excited to chat. You were on the show three years ago, right as Semafor was launching, and BuzzFeed News was shutting down. I’ve been talking to media CEOs about the future, and it seems like you’ve found a successful path at Semafor. How are things going?

Things are going incredibly well, and I hope I’m not jinxing it by saying that! We’ve navigated a lot in this strange and unstable media landscape, but I believe we’ve developed a model that combines quality journalism with large-scale convening, which is proving to be both effective and profitable—a rarity in today’s digital media world.

It’s interesting to note that a profitable digital media business is hard to come by these days. I was reviewing our conversation from three years ago, where you discussed your book “Traffic,” which focused on the millennial digital media boom and the chase for massive scale. It seems like you’ve pivoted away from that approach.

Our chief revenue officer likes to joke that my next book could be titled “No Traffic.” We’re intentionally building an anti-scale business. Starting in the aftermath of the traffic apocalypse forced us to rethink our audience targeting and focus on a specific demographic. I firmly believe that great stories and high-quality insights will always be in demand, regardless of the platforms they’re delivered on.

You mentioned “surface,” and I often refer to it as “distribution.” It’s a recurring theme that distribution shapes content creation. If distribution is up for grabs, what are you focusing on?

I’m a bit skeptical of the idea that distribution is everything. The pull of distribution is powerful, but we’re focused on reaching political and business leaders, nonprofit executives, and decision-makers through various channels—whether in person, via email, or through video. We want to engage with our audience across multiple media formats, and video, in particular, offers significant potential for scale.

However, there’s also a temptation to create polarizing content to go viral, and we’re actively working to resist that urge.

We’re already deep into the weeds here, and I hope listeners can sense our enthusiasm for these discussions.

Let’s pivot to your recent event, “Silicon Valley & The World.” You’ve invited some major tech figures to participate. How do you balance hosting these influential figures while maintaining journalistic integrity?

It’s a valid concern, and it’s a new aspect of the convening business for me. We’re excited to have leaders like Jensen Huang and Andy Jassy at our events, and we plan to conduct newsworthy interviews with them. It’s common practice for media organizations to involve newsmakers in their events to build excitement. However, our journalism remains independent of their influence.

But how do you ensure that independence? If you’re set to interview a CEO who’s been the subject of critical reporting, there’s a risk they might cancel. How do you navigate that?

You have to be prepared for that possibility. If a CEO cancels because of a critical story, that’s just part of the business. We strive to be fair and honest in our reporting, and we believe that asking tough questions is essential. Many leaders appreciate the opportunity to engage with challenging topics, as it reflects their reality.

It’s interesting how some media outlets tiptoe around hard questions, but those are often the most engaging for both the audience and the interviewee.

Absolutely. It’s crucial to treat these leaders as important decision-makers and not shy away from difficult conversations.

As you prepare for your upcoming event, how do you view the current media landscape, especially with the rise of influencers and creators who often blur the lines of journalism?

It’s a fascinating dynamic. While influencers can attract large audiences, there’s a growing demand for authentic journalism that provides real insights. The best creators are recognizing that their audiences appreciate tough questions and genuine discussions.

You mentioned that access can be a double-edged sword. How do you balance the need for access with maintaining journalistic integrity?

Access can indeed be a curse. It’s essential to remember that journalism is about serving the audience, not just catering to the powerful. We aim to create events that prioritize real questions and meaningful discussions, which ultimately benefits everyone involved.

As we wrap up, I want to touch on AI and its role in your newsroom. How are you approaching AI in your reporting and content creation?

We’re optimistic about AI’s potential to enhance our operations. For instance, we recently used AI to analyze transcripts from a large event and extract key insights. While AI can streamline production, the core of journalism—gathering new information and communicating it effectively—remains a human endeavor.

It’s been a pleasure discussing these topics with you, Ben. Thank you for sharing your insights!

Thank you! I always enjoy our conversations.