Ben Smith joins The Fifth Column to discuss his new venture, Semaphore, and its $10 billion valuation driven by profitable journalism and high-profile tech events. He analyzes the firing of Washington Post journalist Karen Attia, arguing that social media mistakes should not automatically warrant termination unless they involve fabrication. The conversation also touches on the challenges of billionaire ownership in media, citing Jeff Bezos and Laurene Powell Jobs, while Smith shares anecdotes about his colleagues and the evolving landscape of digital news.