[T]here's a difference between confident leadership and empty-headed delusion or cheerleading. And this is a difference that many CEOs miss.

The content defines the platform, so whereas when I was working at ABC from '66 to '76, people said it was the "great wasteland." It was the least-objectionable program that succeeded. It was, if you could get behind "All in the Family," you were successful.

The Financial Times is a wonderful publication, as is the Wall Street Journal and many others. But the new generation is consuming media fundamentally differently. At Business Insider, we have the chance to embrace that whole-heartedly. We do not have a print legacy, digital is not our second business behind a newspaper. It is our only one.

Almost any show that has reviewers behind it, Rotten Tomatoes behind it, will find a way to survive.

The first reaction is, get defensive. Second reaction is, what are we going to do about it?

[T]here's a difference between confident leadership and empty-headed delusion or cheerleading. And this is a difference that many CEOs miss.

Pornography works to a degree, high quality works, bad is obvious. Nobody goes for bad. The terrible middle ground is the mediocre. That was kind of the essence, in a way, of broadcast television when there were only three channels.