I think the water cooler is more important than ever. "Oh, did you hear that 'Inside Amy Schumer' is fabulous?" Where do you find it? It's on Netflix, it's on iTunes, it's on places nobody ever heard of five years ago.

It's very hard to be good. It is self-destructive thinking to think that there is too much good.

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.

In the new world of digital, there are no must-read publications any more.

People have been predicting the death of television for 20 years now, and so far it's been entirely wrong. But it does seem viewership habits are starting to change.

Some people have made a fortune by being employed. Jerry Bruckheimer does not own his content. Warner Bros. owns his shows. They are on CBS, and he makes a fortune.

Successful publication is all about the mix. What Buzzfeed discovered was that people like cat pictures. We can pretend to be embarrassed about that as a species, but it is actually a truth. So Buzzfeed publishes a lot of cat pictures. But they use the money from cat pictures to build an exceptional newsroom that publishes stories that far fewer people want to read, but it is very important journalism.