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If you’ve spent more than two minutes somewhere on social media, you have probably come across Gary Vaynerchuk. For years I have wondered, is this just a character? Or is there a real Gary Vaynerchuk somewhere behind “GaryVee,” the social media entrepreneur and internet brand? Gary got his start working at his family’s liquor store, which he turned into an online wine shop. That’s where he started in social media, hosting a long-running YouTube show called “Wine Library TV.” He parlayed that into the gigantic GaryVee brand, which at its core, is about entrepreneurship. Gary co-founded the restaurant reservation platform Resy, which he sold to American Express in 2019, and Empathy Wines which he sold in 2020.  The Vaynerchuk empire remains vast, and it’s structured in complicated ways. There’s holding company VaynerX, which contains the ad agency VaynerMedia. There’s another company called Gallery Media which owns lifestyle websites. Gary even co-founded a sports agency – VaynerSports, with pro athletes like

The idea behind private equity or PE is simple: a private equity firm gathers up a bunch of cash, raises some investor cash and takes on a lot of debt to buy various companies, often taking them off the public stock market. Then, they usually install new management and embark on aggressive cost cutting and turnaround programs – mostly because they have to pay down all that debt pretty fast. Then, the company can be sold or taken public again for a hefty profit. But don’t worry—if it doesn’t work out, the PE firms are extracting fees at every step of the process so they get paid no matter what happens. In another world, these PE deals are just boring financing strategies or maybe the backbone of the occasional juicy corporate takeover story. In Decoder world, PE is everywhere. Since the modern PE industry kicked off in the 1980’s, it’s grown virtually unchecked, and as author Brendan Ballou explains, that’s had seriously negative consequences for all kinds of markets and consumers. Private equity affects ever

Jennifer Witz is the CEO of SiriusXM. You probably know the company as the satellite radio brand in virtually every new car, but it also owns Pandora, a huge podcast network that includes Team Coco and 99% Invisible, a content operation with huge stars like Howard Stern, and has broadcast deals with every major sports league. SiriusXM is effectively the dominant market leader for built-in premium audio in cars, in a time when competition is increasing. As the infotainment system in cars gets ever more complex and computer-like, the Sirius experience has to keep up. On top of that, the state of car software is a mess. GM announced it won’t support Apple CarPlay in new EVs. Other companies are using various versions of Android. Tesla has its own platform. And Sirius has to support all of it with applications that compete with Big Tech companies, all while continuing to integrate the satellite hardware into the cars themselves — on top of launching satellites on SpaceX rockets. Links: After layoffs, SiriusXM loo

Microsoft CTO Kevin Scott oversees the company's AI efforts, including its big partnership with OpenAI and ChatGPT. Kevin and I spoke ahead of his keynote talk at Microsoft Build, the company’s annual developer conference, where he showed off the company’s new AI assistant tools, which Microsoft calls Copilots. Microsoft is big into Copilots. GitHub Copilot is already helping millions of developers write code, and now, the company is adding Copilots to everything from Office to the Windows Terminal. Basically, if there’s a text box, Microsoft thinks AI can help you fill it out, and Microsoft has a long history of assistance like this. You might remember Clippy from the ’90s. Well, AI Super Clippy is here. Microsoft is building these Copilots in collaboration with OpenAI, and Kevin manages that partnership. I wanted to ask Kevin why Microsoft decided to partner with a startup instead of building the AI tech internally, where the two companies disagree, how they resolve any differences, and what Microsoft is ch

Today – we’ve got a treat for you. We’re going to run a special episode from our friends over at Vox. Peter Kafka and his team just wrapped up a special 3-part series on AI.  AI has captured the imagination of Silicon Valley. In fact, in the last few months, I’ve talked to both Google CEO Sundar Pichai and Microsoft CEO Satya Nadella about AI after they announced new AI-powered search products. And in the middle of the frenzy, it's hard to tell what's really going on. What exactly is AI, how does tech plan to re-design the world with it, and why are a bunch of smart people very, very worried? In this episode, they’re diving into the gold rush around AI. Figuring out what’s just hype, meeting the VCs that are hungry to invest, and finding out if there will be room for startups, or if the giants will just own it all. If you’re a Decoder listener, this is right up your alley. Thanks to Peter Kafka and Vox. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Hello and welcome to Decoder. I’m Nilay Patel, editor in chief of The Verge, and Decoder is my show about big ideas, and other problems. We have a special episode today – I’m talking to Sundar Pichai, the CEO of Google and Alphabet. We hung out the day after Google IO, the company’s big developer conference, where Sundar introduced new generative AI features in virtually all of the company’s products. It’s an important moment for Google, which invented a lot of the core technology behind the current AI moment – the company is quick to point out the T in chatGPT stands for Transformer, the large language model tech first which was invented at Google. But openAI and others have been first to market with generative AI products — and openAI in particular has partnered with Microsoft on a new version of Bing that feels like the first real competitor to Google search in a long time.  So I wanted to know what Sundar thinks of this moment – and in particular, what he thinks of the future of search, which is the he

Brian Chesky, the co-founder and CEO of Airbnb, was previously on the show in 2021. Back then, Airbnb was betting big on long-term stays for remote work amid the pandemic, and Chesky had just restructured the company to a more functional organization, getting rid of the divisions it had before. Now, the pandemic is ending, Airbnb has itself adopted a hybrid policy, Chesky’s back in the office several days a week, and they’re two years into that new structure. So that’s pure Decoder bait. I wanted to ask Chesky how that restructure is going. Has it really made the company more agile and cohesive like he hoped? Has the bet on working from anywhere paid off? Links: Brian Chesky's tweet announcing the summer 2023 launch Microsoft thinks AI can beat Google at search — CEO Satya Nadella explains why  Samsung caught faking zoom photos of the Moon Why the future of work is the future of travel, with Airbnb CEO Brian Chesky Credits: Decoder is a production of The Verge, and part of the Vox Media Podcast Network. Toda

Ben Smith is the former and founding editor-in-chief of Buzzfeed News, the founder and editor-in-chief of Semafor, and the author of a new book called Traffic: Genius, Rivalry, and Delusion in the Billion-Dollar Race to Go Viral, which is about the rise and fall of the social platform age in media, through the lens of Gawker Media and Buzzfeed and, in particular, their founders, Nick Denton and Jonah Peretti. I say the fall of the social platform age pretty literally: just before we spoke, Buzzfeed actually shut down Buzzfeed News, saying it just wasn’t making enough money, Facebook and the rest are all in on vertical video, and the chaos at Twitter means a lot of baseline media industry assumptions are now up for grabs. Ben and I talked about a lot – where do journalists build their brands now? Where does traffic even come from anymore? What’s next? Of course, we talked about Semafor as well. Ben and his co-founder, Justin Smith, raised $25 million and launched a news website, newsletters, and events cover

We’ve got a special episode with Alex Heath, deputy editor at The Verge and a familiar host for Decoder listeners, and David Marcus, the CEO of Lightspark. That’s a company that just launched a service to make fast transactions using Bitcoin on something called the Lightning Network. David was previously at PayPal, and then he led Meta’s big payments effort that went nowhere, but he’s got a lot to say about where crypto and payments are right now. Links: Launching the Lightspark Platform Facebook tells Congress how it thinks Libra should be regulated - The Verge The leader of Facebook’s stalled cryptocurrency project is leaving the company - The Verge Transcript: https://www.theverge.com/e/23460507  Credits: Decoder is a production of The Verge, and part of the Vox Media Podcast Network. Today’s episode was produced by Creighton DeSimone and Jackie McDermott and it was edited by Callie Wright. The Decoder music is by Breakmaster Cylinder. Our Sr Audio Director is Andrew Marino and our Executive Producer is

Travis Katz is the CEO of BrightDrop, a subsidiary of GM that makes electrified delivery vans with an eye toward rebooting all of how delivery works. BrightDrop has pretty big partnerships already, with names like FedEx, Verizon, and Walmart committed to its Zevo 600 van, and it’s got big ideas for making the steps from the van to your door more efficient as well with something called e-carts. Katz says there’s a huge demand for delivery especially as online shopping keeps getting bigger, but the transportation network is at capacity, and you can’t just keep throwing more trucks and drivers on the road, or making city streets wider. His plan is to redesign the entire system to make it more efficient. So I wanted to know how he’s attacking that problem and making it manageable, all while getting buy-in from customers that won’t really accept delays or increased costs. BrightDrop is a wholly owned subsidiary of General Motors, so I also wanted to know how that works, what he gets from being part of the big co

It is fair to say that Substack has had a dramatic week and a half or so, and I talked to their CEO Chris Best about it. The company announced a new feature called Substack Notes, which looks quite a bit like Twitter — Substack authors can post short bits of text to share links and kick off discussions, and people can reply to them, like the posts, the whole thing. Like I said, Twitter. Twitter, under the direction of Elon Musk, did not like the prospect of this competition, and for several days last week, Twitter was taking aggressive actions against Substack. At one point you couldn’t even like tweets with Substack links in them. At another point, clicking on a Substack link resulted in a warning message about the platform being unsafe. And finally, Twitter redirected all searches for the word Substack to “newsletter.” Musk claimed Substack was somehow downloading the Twitter database to bootstrap Substack Notes, which, well, I’m still not sure what that means, but I at least asked Chris what he thought tha

Brex CEO Henrique Dubugras found himself playing an important role during the Silicon Valley Bank collapse. Brex is what you might call a neobank — not a traditional bank but rather a financial services provider that helps companies manage how they spend money, corporate cards, travel expenses and the rest. In the middle of the SVB collapse, Brex was more than just a spending management company. It was also a safe place to park money. Brex saw billions of deposits in a very short period of time, giving Dubugras a bird's-eye view of what was happening — and what was happening was not great for the banking system, especially in Silicon Valley. (Our own Liz Lopatto has been covering this in depth.) I wanted to hear Dubugras' perspective on SVB both as a fintech CEO and a founder himself, whether he thought the crisis was rational or just a panic caused by group texts and easy-to-use mobile banking interfaces, what he thinks will happen to the startup ecosystem next, and how much of an opportunity all this was fo

Chris Cocks is the CEO of Hasbro, a company that just turned 100 this year. Hasbro is a huge company, making everything from Transformers to Lincoln Logs to My Little Pony and Monopoly. It also makes Magic: The Gathering and Dungeons & Dragons, which are massive and growing businesses. Chris was the head of that division, called Wizards of the Coast, before he became the CEO of Hasbro overall last year. Since then, he’s started the process of restructuring the company, which is pure Decoder bait.  He’s also dealt with some crises: He’s fended off an activist investor that wanted him to spin Wizards of the Coast out into a new company. The Magic community was upset that too many card sets were being released, including rare collector cards that could suddenly be bought by anybody who had enough money. Then, an attempt to change the open gaming license for Dungeons & Dragons led to a fan backlash, and Hasbro walked the entire plan back. We talked about these challenges, how he handled them, and what it means fo

Today I’m talking to Mastodon CEO Eugen Rochko. Mastodon is the open-source, decentralized competitor to Twitter, and it’s where a lot of Twitter users have gone in this, our post-Elon era. The idea is that you don’t join a single platform that one company controls, you join a server, and that server can show you content from users across the entire network. If you decide you don’t like the people who run your server, or you think they’re moderating content too strictly, you can leave, and take your followers and social graph with you. Think about it like email and you’ll get it – if you don’t like Gmail, you can switch to something else, but you don’t have to quit email entirely as a concept. Now if you are like me, you hear the words open-source and decentralized, and then the word CEO, and you think – wait, why does the decentralized open standard have a CEO? The whole point is that no single person or company is in charge, right? Well, welcome to the wild world of open-source governance. It’s a riot, my f

Meredith Kopit Levien is the CEO of The New York Times, which is perhaps the most famous journalism organization in the world, and certainly one of America’s most complicated companies. The Times is 172 years old, and has only recently become a force on the internet. It’s hard to remember, but back in 2014 and ‘15, people thought the Times was doomed — that it would be replaced by BuzzFeed and Vice and Vox. Instead, the company has undergone a radical and sometimes painful public transformation, and emerged as something closer to Netflix or Spotify – a subscription business with a huge investment in product and engineering.  Meredith has led a lot of that change, and in particular, she’s led the charge in turning a Times subscription into much more than paying for news – NYT Cooking and Games are hit apps, and of course she bought Wordle last year in a bit of a coup. We talked about that structure, how Meredith intends to appeal to a broader audience with all those products when the country is basically divi

This special episode dives deep on Taylor Swift, Ticketmaster, and how a handful of policy changes in the 1980s led to one firm so thoroughly dominating the live events business in the United States that Congress held a hearing in 2023, because Taylor Swift fans were so upset about antitrust law. That sentence is wild. We’re going to unpack all of this with the help of some experts. Here we go. Transcript: https://www.theverge.com/e/23409098 Credits: Thanks so much to everyone who talked to us and shared their valuable insights for this episode including Dean Budnik, Florian Ederer, Russ Tannen, and Sandeep Vaheesan. And special thanks to Makena Kelly and Jake Kastrenakes.  This episode was written and reported by Jackie McDermott and Owen Grove. It was produced by Jackie McDermott, Owen Grove, and Creighton DeSimone with help from Jasmine Lewis. It was edited by Callie Wright.  Learn more about your ad choices. Visit podcastchoices.com/adchoices

In this installment of our Centennial Series on companies that are over 100 years old, we are talking to Barnes & Noble CEO James Daunt. The last few decades have thrown some hurdles in Barnes & Noble’s way, however. Far from being the monster that inspired the plot of the movie You’ve Got Mail, it’s had to face down a new Goliath called Amazon and the general decline of big-box retail stores. After years of closures and declining revenues, Barnes & Noble was bought out by activist investors in 2019, who installed Daunt as CEO, and he’s managed to turn things around by doing two main things.  First, he has decentralized operations of the stores, letting each store act like a local bookshop and giving his booksellers more control over what titles they sell and display. He immediately ended a system that allowed publishers to pay for special placement in bookstores, which he said corrupted the entire system in service of short-term profits. Second, he’s using Barnes & Noble’s scale to build a purchasing and dis

Gustav Söderström has worked at Spotify for a long time; his first big project was leading the launch of its mobile app back in 2009. That makes him the perfect company leader to talk to about Spotify’s recent redesign, which introduces a visual, TikTok-like feed for discovering new content on the app’s homepage. As his boss CEO Daniel Ek put it last week, it’s “the biggest change Spotify has undergone since we introduced mobile.” With the title of co-president and chief product and technology officer, Söderström is responsible for not only how Spotify looks and feels but also all the AI work happening behind the scenes to power its increasingly important recommendations. According to Söderström, it turns out that improving those recommendations is actually at the heart of the big redesign. “I think companies that don’t have an efficient user interface for a machine learning world are not going to be able to leverage machine learning,” he told Alex Heath on the newest episode of Decoder. Links: https://en.wi

Intro: Steve Bandrowczak, the CEO of Xerox, an iconic company that got started all the way back in 1906 as a manufacturer of photo paper and is, of course, best known for pioneering the copy machine. Here in 2023, Xerox has moved well beyond paper. It now works with companies large and small to provide IT services: it optimizes workflows, manages data, automates parts of businesses, and yes, still fixes the printers. Steve insists there’s still a lot in the world to print, and selling and servicing printers continues to be where Xerox begins its relationships with most customers. And fixing printers is getting high tech: Steve is excited about his new AR app that walks you through getting the copy machine working again so you don’t have to wait for a technician to come fix it.  We also talked about the future of Xerox’s legendary Palo Alto Research Center, or PARC, whether Xerox wants more consolidation, and we even spitball some ideas about how to get Gen Z excited about printers.  Links: John Visentin, Xer

Pali Bhat joined Reddit from Google about a year ago — he’s actually Reddit’s first-ever chief product officer, which is pretty surprising considering that Reddit is a series of product experiences: the reading experience, the writing experience, and importantly, the moderation experience. One thing we always say on Decoder is that the real product of any social network is content moderation, and Reddit is maybe the best example of that: every subreddit is shaped by volunteer moderators who use the tools Reddit builds for them. So Pali has a big job bringing all these products together and making them better, all while trying to grow Reddit as a platform. This was a really deep conversation, and it touched on a lot of big Decoder themes. I think you’re going to like it. Okay, Pali Bhat, the chief product officer of Reddit. Here we go. Links: New features aimed at making Reddit easier to use: an update on our product priorities focussed on simplification Reddit’s new features include a TikTok-style video fee