Recode Decode, Hosted By Kara Swisher

Private equity is a simple concept — a PE firm uses some combination of money and debt to buy a company, then makes a profit — but the reality of what happens to the companies that get acquired is anything but. It's everywhere, and it's not going away. In this summer remix, we're talking with Brendan Ballou, author of Plunder: Private Equity’s Plan to Pillage America, about how we got here and what happens next.  Links:  Private equity bought out your doctor and bankrupted Toys“R”Us — here’s why that matters | The Verge Private equity and mismanagement: Here's what really killed Red Lobster | Fast Company Sony and Apollo send letter expressing interest in $26 billion Paramount buyout | NBC News Plunder: Private Equity’s Plan to Pillage America | Brendan Ballou Barbarians at the Gate: The Fall of RJR Nabisco | Bryan Borrough & John Helyar Barnes & Noble is going back to its indie roots to compete with Amazon | The Verge Credits: Decoder is a production of The Verge, and part of the Vox Media Podcast N

Cohere is one of the buzziest AI startups around right now. It's not making consumer products; it's focused on the enterprise market and making AI products for big companies. And there's a huge tension there: up until recently, computers have been deterministic. If you give computers a certain input, you usually know exactly what output you’re going to get. There’s a logic to it. But if we all start talking to computers with human language and getting human language back, well, human language is messy. And that makes the entire process of knowing what to put in and what exactly we’re going to get out of our computers different than it ever has been before. Links:  Attention is all you need On the Dangers of Stochastic Parrots Introducing the AI Mirror Test, which very smart people keep failing | The Verge AI isn’t close to becoming sentient | The Conversation These are Microsoft’s Bing AI secret rules and why it says it’s named Sydney | The Verge ‘Godfather of AI’ quits Google with regrets and fears ab

The art of video game design is flourishing, but it feels like a really grim time to be in the business of making and distributing games. Huge global publishers and tiny indie studios alike are facing huge financial pressures, and it doesn’t seem to be letting up anytime soon. So where did this enormous pressure come from, if consumer interest is high and sales are great? Verge video game reporter Ash Parrish joins Decoder to explain. Links:  Global games market expected to grow to $189bn in 2024 | GamesIndustry.biz Why the video game industry is seeing so many layoffs | Polygon The tech industry’s layoffs and hiring freezes: all of the news | The Verge Fortnite made more than $9 billion in revenue in its first two years | The Verge Insomniac’s Spider-Man 2 Swings Past 10 Million Sold | IGN The future of Netflix games could look like reality TV | The Verge Credits: Decoder is a production of The Verge, and part of the Vox Media Podcast Network. Our producers are Kate Cox and Nick Statt. Our editor i

Today, I’m talking with Zoom CEO Eric Yuan — and let me tell you, this conversation is nothing like what I expected. It turns out Eric wants Zoom to be much, much more than just a videoconferencing platform. Zoom wants to take on Microsoft and Google and now has a big investment in AI – and Eric’s visions for what that AI will do are pretty wild. See, Eric really wants you to stop having to attend Zoom meetings yourself. You’ll hear him describe how he thinks one of the big benefits of AI at work will be letting us all create something he calls a “digital twin," essentially a deepfake of yourself that can go attend meetings on your behalf and even make decisions for you. I’ll just warn you: I tried to ask a bunch of the usual Decoder questions during this conversation, but once we got to digital twins going to Zoom meetings for people, well, I had a lot of followup questions.  Links:  Zoom gets its first major overhaul in 10 years, powered by generative AI | ZDNet An interview with Zoom CEO Eric Yuan | S

For nearly 20 years now, the web has been Google’s platform; we’ve all just lived on it. I think of Decoder as a show for people trying to build things, and a lot of people have built their things on that platform. For a lot of small businesses and content creators, that’s suddenly not stable anymore. The number one question I have for anyone building things on someone else’s platform is: What are you going to do when that platform changes the rules? Links:  How Google is killing independent sites like ours | HouseFresh HouseFresh has virtually disappeared from Google Search results. Now what? | HouseFresh Google Is Killing Retro Dodo & Other Independent Sites | Retro Dodo Google CEO Sundar Pichai on AI-powered search and the future of the web | The Verge Will A.I. Break the Internet? Or Save It? | The New York Times Google confirms the leaked Search documents are real |The Verge An Anonymous Source Shared Thousands of Leaked Google Search API Documents with Me; Everyone in SEO Should See Them | Spark

Today, I’m talking with Joseph Cox, one of the best cybersecurity reporters around and a co-founder of the new media site 404 Media. Joseph has a new book coming out in June called Dark Wire: The Incredible True Story of the Largest Sting Operation Ever, and I can’t recommend it enough. It’s basically a caper, but with the FBI running a phone network. For real.  Joseph walks us through the fascinating world of underground criminal phone networks, and how secure messaging, a tech product beloved by drug traffickers, evolved from the days of BlackBerry Messenger to Signal. Along the way, the FBI got involved with its very own startup, ANOM, as part of one of the most effective trojan horse operations in the history of cybersecurity. Joseph’s book is a great read, but it also touches on a lot of things we talk about a lot here on Decoder. So this conversation was a fun one.  Links:  Dark Wire by Joseph Cox | Hachette Book Group How Vice became ‘a fucking clown show’ | The Verge Cyber Official Speaks Out,

Today, I’m talking to Google CEO Sundar Pichai, who joined the show the day after the big Google I/O developer conference. Google’s focus during the conference was on how it’s building AI into virtually all of its products. If you’re a Decoder listener, you’ve heard me talk about this idea a lot over the past year: I call it “Google Zero,” and I’ve been asking a lot of web and media CEOs what would happen to their businesses if their Google traffic were to go to zero. In a world where AI powers search with overviews and summaries, that’s a real possibility. What then happens to the web?  I’ve talked to Sundar quite a bit over the past few years, and this was the most fired up I’ve ever seen him. I think you can really tell that there is a deep tension between the vision Google has for the future — where AI magically makes us smarter, more productive, more artistic — and the very real fears and anxieties creators and website owners are feeling right now about how search has changed and how AI might swallow th

Last week, TikTok filed a lawsuit against the US government claiming the divest-or-ban law is unconstitutional — a case it needs to win in order to keep operating under Bytedance’s ownership. There’s a lot of back and forth between the facts and the law here: Some of the legal claims are complex and sit in tension with a long history of prior attempts to regulate speech and the internet, while the simple facts of what TikTok has already promised to do around the world contradict some its arguments. Verge editors Sarah Jeong and Alex Heath join me to explain what it all means. Links:  TikTok and Bytedance v Merrick Garland (PDF) TikTok sues the US government over ban | The Verge Senate passes TikTok ban bill, sending it to President Biden’s desk | The Verge The legal challenges that lie ahead for TikTok — in both the US and China | The Verge Why the TikTok ban won’t solve the US’s online privacy problems. | Decoder  Biden signs TikTok ‘ban’ bill into law, starting the clock for ByteDance to divest it

Adobe CEO Shantanu Narayen has been at the top of my list of people I’ve wanted to talk to for the show since we first launched — he’s led Adobe for nearly 17 years now, but he doesn’t do too many wide-ranging interviews. I’ve always thought Adobe was an underappreciated company — its tools sit at the center of nearly every major creative workflow you can think of — and with generative AI poised to change the very nature of creative software, it seemed particularly important to talk with Shantanu now. Adobe sits right at the center of the whole web of tensions, especially as the company has evolved its business and business model over time. And now, AI really changes what it means to make and distribute creative work. Not many people are seeing revenue returns on it just yet and there are the fundamental philosophical challenges of adding AI to photo and video tools. What does it mean when a company like Adobe, which makes the tools so many people use to make their art, sees the creative process as a step in

Today, we’re going to talk about the smart home — one of the oldest, most important, and most challenging dreams in the history of the tech industry. The idea of your house responding to you and your family, and generally being as automated and as smart as your phone or your laptop, has inspired generations of technologists. But after decades of promises, it’s all still pretty messy. Because the big problem with the smart home has been blindingly obvious for a very long time: interoperability.  Yet there are some promising developments out there that might make it a little better. To help sort it all out, I invited Verge smart home reviewer Jen Tuohy, who is one of the most influential reporters on the smart home beat today. Jen and I break down how Matter, the open source standard, is trying to fix these issues, but there is still a lot of work to do.  Links:  Matter is now racing ahead, but the platforms are holding it back — The Verge 2023 in the smart home: Matter’s broken promises — The Verge Smar

Today, I’m talking with Polestar CEO Thomas Ingenlath, whom I first interviewed on the show back in 2021. Those were heady days — especially for upstart EV companies like Polestar, which all seemed poised to capture what felt like infinite demand for electric cars. Now, in 2024, the market looks a lot different, and so does Polestar, which is no longer majority-owned by Volvo. Instead, Volvo is now a more independent sister company, and both Volvo and Polestar fall under Chinese parent company Geely.  You know I love a structure shuffle, so Thomas and I really got into it: what does it mean for Volvo to have stepped back, and how much can Polestar take from Geely’s various platforms while still remaining distinct from the other brands in the portfolio? We also talked about the upcoming Polestar 3 SUV and Polestar 4 crossover, and I asked Thomas what he thinks of the Cybertruck. Links:  Can Polestar design a new kind of car company? — Decoder The Polestar 3 isn’t out yet, and it’s already getting a big pr

Today, Verge transportation editor Andy Hawkins and I are going to try and figure out Tesla. I said try — I did not say succeed. But we’re going to try. That’s because Tesla has been on a real rollercoaster these past two weeks, in terms of its stock price, its basic financials, and well, its vibes. If you’ve been following the company, you know that that gap between what the business is and how its valued has been getting bigger and bigger for years now – and lately, with Elon Musk saying he’s going all-in on autonomy and announcing a robotaxi event in August, it seems like we’re getting closer to a make or break moment, especially as competition in the broader EV market heats up.  Links: Tesla reaches deals in China on self-driving cars — NYT Elon Musk goes ‘absolutely hard core’ in another round of Tesla layoffs — The Verge Tesla’s Autopilot and Full Self-Driving linked to dozens of deaths — The Verge Elon Musk says Tesla will reveal its robotaxi on August 8th — The Verge A cheaper Tesla is back

A lot has changed since the last time Ola was on Decoder. Back then, he said Mercedes would have an all-EV lineup by 2030 — a promise a whole lot of car companies, including Mercedes, have now had to soften or walk back. But he doesn't see that as a setback at all, and he and Mercedes are both still committed to phasing out gas in the long run. We also spent some time talking about what's happening both on the outside of cars — Mercedes' classic look and its EV look aren't necessarily quite in the same place — and on the inside of them, as infotainment becomes a huge point of competition and design. Links:  How Mercedes-Benz CEO Ola Källenius is refocusing for an electric future - The Verge Mercedes-Benz opens its first 400kW EV charging station in the US - The Verge Mercedes-Benz is the first German automaker to adopt Tesla’s EV charging connector - The Verge Is the metaverse going to suck? A conversation with Matthew Ball - The Verge The Mercedes G-Wagen, the ultimate off-road status symbol, goes ele

Today, we’re talking about the brand-new TikTok ban — and how years of Congressional inaction on a federal privacy law helped lead us to this moment of apparent national panic about algorithmic social media. This is a thorny discussion, and to help break it all down, I invited Verge senior policy reporter Lauren Feiner on the show. Lauren has been closely covering efforts to ban TikTok for years now, and she’s also watched Congress fail to pass meaningful privacy regulation for even longer. We’ll go over how we got here, what this means for both TikTok and efforts to pass new privacy legislation, and what might happen next.  Links:  Biden signs TikTok ‘ban’ bill into law — The Verge TikTok ban: all the news on attempts to ban the video platform — The Verge Anyone want to buy TikTok? — Vergecast Congress takes on TikTok, privacy, and AI — Vergecast Tiktok vows to fight 'unconstitutional' US ban — BBC ‘Thunder Run’: Behind lawmakers’ secretive push to pass the TikTok bill — NYT On TikTok, resigna

Today, I’m talking to Jason Citron, the co-founder and CEO of Discord, the gaming-focused voice and chat app. You might think Discord is just something Slack for gamers, but over time, it has become much more important than that. For a growing mix of mostly young, very online users steeped in gaming culture, fandom, and other niche communities, Discord is fast becoming the hub to their entire online lives. A lot of what we think of as internet culture is happening on Discord. In many ways Discord represents a significant shift away from what we now consider traditional social platforms. As you’ll hear Jason describe it, Discord is a place where you talk and hangout with your friends over shared common interests, whether that’s video games, the AI bot Midjourney, or maybe your favorite anime series. It is a very different kind of interface for the internet, but that comes with serious challenges, especially around child safety and moderation.  Links:  Discord opens up to games and apps embedded in its chat

Today, we're talking about Disney, the massive activist investor revolt it just fought off, and what happens next in the world of streaming. Because what happens to Disney really tells us a lot about what's happening in the entire world of entertainment. Earlier this month, Disney survived an attempted board takeover from businessman Nelson Peltz. While investors ultimately sided with Disney and CEO Bob Iger, the boardroom showdown made something very clear: Disney needs to figure out streaming and get its creative direction back on track.  To help me figure all this out, I brought on my friend Julia Alexander, who is VP of Strategy at Parrot Analytics, a Puck News contributor, and most importantly, a former Verge reporter. She's a leading expert on all things Disney, and I always learn something important about the state of the entertainment business when I talk to her.  Links:  The Story of Disney+ — Puck News ​​Disney’s CEO drama explained, with Julia Alexander — Decoder Is streaming just becoming ca

At the absolute most basic, Dropbox is cloud storage for your stuff — but that puts it at the nexus of a huge number of today’s biggest challenges in tech. As the company that helps you organize your stuff in the cloud itself goes all remote, how do we even deal with the concept of “your stuff?” Today I’m talking with Dropbox CEO Drew Houston about those big picture ideas — and why he thinks generative AI really will be transformative for everyone eventually, even if it isn’t yet now. Links:  Dropbox AI and Dash make it easier to find your files from all over the web | The Verge Kids who grew up with search engines could change STEM forever | The Verge No, Dropbox's cafeteria didn't get a Michelin star | VentureBeat It's official: San Francisco's office vacancy rate just set a record | San Francisco Examiner Jeff Bezos: This is the 'smartest thing we ever did' at Amazon | CNBC Dropbox is laying off 500 people and pivoting to AI | The Verge Congress bans staff use of Microsoft's AI Copilot | Axios T

Today we’re talking about Vice, the media company: Where it came from, what it did, and, ultimately, why it collapsed into a much smaller, sadder version of itself.  This is a lousy time for digital media, and it’s hard to make a profit from putting words on the internet right now. So when Verge senior reporter Liz Lopatto went to go report on what happened, she and I both assumed Vice had been done in by the brutal economics of digital advertising on the web. But the Vice story is more than that — in the word of one executive that talked to Liz, it was a “fucking clown show.”  Links: How Vice became 'a fucking clown show' — The Verge Vice is abandoning Vice.com and laying off hundreds — The Verge Vice, decayed digital colossus, files for bankruptcy — NYT Vice Is Basically Dead — New York Magazine Shane Smith and the Final Collapse of Vice News — The Hollywood Reporter At Vice, cutting-edge media and allegations of old-school sexual harassment — NYT HBO cancels ‘Vice News Tonight,’ severing rel

Cloudflare is an infrastructure provider basically protecting more than 20% of the entire web from bad actors. When everything is going well, you don't even have to know it exists. It's one of the only defenses — sometimes the only defense — standing between websites and the people who want to take them down. Protecting free speech on the internet around the world, across war zones and hundreds of different kinds of government, is no easy feat. That puts the company, and CEO Matthew Prince, right at the heart of some of Decoder's biggest challenges and themes.  Links:  A Cloudflare outage broke large swathes of the internet | The Verge Why security company Cloudflare is protecting U.S. election sites for free | Fast Company The Daily Stormer just lost the most important company defending it | The Verge (2017) Cloudflare to revoke 8chan’s service, opening the fringe website up for DDoS attacks | The Verge (2019) Cloudflare blocks Kiwi Farms due to an ‘immediate threat to human life’ | The Verge Why Clo

Hello, and welcome to Decoder. This is David Pierce, editor-at-large at The Verge and co-host of The Vergecast, subbing in for Nilay, who’s out on vacation. Regular Decoder programming returns next week. In the meantime, we have an exciting episode for you today all about video game emulation, which, as it turns out, is a whole lot more complicated than it seems.  Gaming emulation made headlines recently because one of the most widely used programs for emulating the Nintendo Switch, a platform called Yuzu, was effectively sued out of existence. There’s a whole lot going on here, from the history of game emulation to the copyright precedents of emulators to how the threat of game piracy still looms large in the industry. To break down this topic, I brought Verge Senior Editor and resident emulation expert Sean Hollister on the show. Let’s get into it.  Links: Nintendo sues Switch emulator Yuzu — The Verge Nintendo Switch emulator Yuzu will fold and pay $2.4M to settle its lawsuit — The Verge Steve Jobs