Eric Newcomer

You think about, I don't know, Ramp's AI spend data or something.

Oh, yeah.

Yeah, like that stuff, you know, used to be sort of the fodder of like a Wall Street Journal type story.

And so to some degree, I think everyone being smarter that they need to have actually like great content to get people to pay attention is one of the vectors of attack, not attack on media, but just competitive.

And a lot of, you know, the old way of doing it would be you try to embargo it to a couple

And so they felt like they were really getting something.

So then their readers feel that this is a differentiated thing that they're receiving incrementally more reason to subscribe to that publication.

And so it used to be a dance that you'd basically be giving the media sort of favor and sort of unique access that we sort of lose over time.

Do you, 10 years from now, would you, can you imagine having, you know, 10, 20 journalists on staff joining forces, you know, sort of re-bundling or do you like being unbundled?

I mean, you know, I have, you know, Madeline Renbarger, Tom Dautin, Jonathan Weber writing for me now, and they're sort of a core part of what Newcomer is today.

And certainly, you know, with unlimited resources, part of what I want to spend the money on is great journalism, good reporting.

It's sort of, it's amazing that, you know, most typically like our content marketing for events is,

is profitable, generates subscription revenue, people demonstrate real value.

It's like the journalism provides sort of a great way to remind people about the amazing events we're putting on.

And so I think it's super synergistic.

So yeah, I'd love to keep building up a newsroom, but I don't really believe...

in a sort of rebundling of sub stacks, like part of it, we're all building separate brands, you know, newcomer has its own brand proposition and a lot of the other sub stacks people like just are sort of, you know, I love Lenny is like crushing it.

Right.

But it's a very different thing focused on product managers.

And so if you even look at tech and business sub stacks, we're so different that I've never really been a believer that there's going to be a rebundling in that sense, but some publications,