I also don't think all of the revenue will come from digital subscriptions. We have in the New York Times a mix of revenue sources and it will continue to be a mix for quite a while. What makes me more nervous is that we built this newsroom on a really high profit margin that has eroded significantly over the last years. I'm nervous that we won't continue to have the profit margins that allow us to have a big, robust newsroom.

The fact that Edward Snowden didn't approach the New York Times hurt a lot. It meant two things. Morally, it meant that somebody with a big story to tell didn't think we were the place to go, and that's painful. And then it also meant that we got beaten on what was arguably the biggest national security story in many, many years. Not only beaten by the Guardian, because he went to the Guardian, but beaten by the Post, because he went to a writer from the Post. We tried to catch up and did some really good stories that I feel good about. But it was really, really, really painful.

My job is to cover the hell out of the story, very aggressively. The real place to be courageous if you're a news organization is where you put your people to cover the story. It's making sure that you have people going to Baghdad. It's making sure that you figure out how to cover the war in Afghanistan. While the journalist in me completely stands with them, the editor of the New York Times in me thinks my job is to figure out what the hell happened and cover the hell out of it, and that's more important than some symbolic drawing on the front page.

The mainstream press was not aggressive enough after 9/11, was not aggressive enough in asking questions about a decision to go to war in Iraq, was not aggresive enough in asking the hard questions about the War on Terror. I accept that for the Los Angeles Times and the New York Times.

I grew up in the traditional American newspaper world with a morning paper and an afternoon paper competing with each other beat by beat by beat. It was the most fun I've ever had. And it was great for journalism.

It used to be, if you were a reporter, you wrote a story and then you moved on to the next one. We were used to people coming to the New York Times. We waited for them to turn on our website or to pick up our print paper and see what we have. We now understand that we have to make our stories available to our readers. A lot of people get their news from Facebook or Twitter and we want to make sure that they see some of our best stories there, too. We do this more aggressively now than we did before.

You're always going to have more traffic if you're a free website. But we've always admitted that the New York Times was behind other news organizations in making our stories available to people on the web. BuzzFeed and the Huffington Post are much better than we are at that, and I envy them for this. But I think the trick for the New York Times is to stick to what we are. That doesn't mean: Don't change. But I don't want to be BuzzFeed. If we tried to be what they are, we would lose.