It's about ethics in journalism, with Ben Smith
Aug 17, 2026 · 1h 11m
Summary
Nilay Patel interviews Ben Smith, Editor-in-Chief of Semaphore, about his shift from chasing viral traffic to building a profitable, "anti-scale" news organization. They discuss Semaphore’s hybrid model, which splits revenue evenly between journalism and high-profile events, and its strategy of covering underreported regions like Africa and the Gulf. The conversation also explores the ethics of hosting industry leaders on advisory boards while maintaining editorial independence and the evolution of their distinct "Semiform" writing style.
Topics discussed
Sponsors: DeepGram Flux TTS and Monday.com
Semaphore's evolution into an anti-scale media company
Lessons from BuzzFeed and the traffic apocalypse
Social platforms, UGC, and the failure of ad-based news
Monetizing via events and the 'convening' business
Global expansion: Africa, the Gulf, and networked audiences
International reporting challenges and conservative operators
The Semaphore format: separating facts from analysis
Building a business team and maintaining editorial independence
Competing with Davos: tough interviews at tech conferences
Journalistic integrity vs. access and influencer culture
The clip economy, conflict, and changing ad conventions
Ethics in marketing and the perception of corruption
Political influencer marketing and regulatory crackdowns
Government regulation of tech and AI policy
Reporting in the Gulf and personalist rule styles
AI in reporting and episode wrap-up
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