When television came in, everybody thought that was the end of the movie business, which was not and is not.

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.

Fifteen years ago, nobody thought that content would ever work as a business. It was impossible to raise any money, initial investments were $10,000, seldom $100,000. It is only over the last two or three years that we have started to see very large amounts of capital coming into the digital industry. That has created a lot more competition.

The definition of strong leadership is not about making decisions that are popular. Making popular decisions is easy - you don't need to be a leader to do that. The definition of strong leadership is to make decisions that are unpopular, but are nevertheless sound.

It's all about who your team is and who your people are.

You have to have a business model you believe in and like.

Before the internet, a journalist would write an article about a company that the company felt was unfair and missed a point. All they could do was write a letter to the editor and wait, and maybe a week later it would be printed, or not. Now, they can go to medium.com and immediately publish a long rebuttal, saying the journalist forgot this and did not consider that, the analyst is wrong here. Everybody pulls that immediately into the debate. So it is a much more democratic field for ideas.