Jim VandeHei

So I just hope that somebody takes over that publication that cares and somebody who has like a business thesis, because I just think it would be an American tragedy if the Washington Post shrunk to nothing.

You could.

I think that's a harder, it's harder because one, the New York Times is pretty good at being the New York Times.

I think that even in those spaces that you mentioned, there's a lot of individual companies outside of media that do it quite well.

And there's nothing about the Washington Post that tells me that they have a consumer base that's big enough that wants that, that that's where I would put my investment dollars.

Whereas I think there's easier places.

The way you got to look at it when you're running a media company is, okay, what are the audiences that I have the right to be able to

to kind of lock in on a near daily basis where they need me to kind of live their life, do their job.

And then how, based on those audiences, what is the easiest way for me to monetize those in the most robust possible way and in a scalable, durable way?

That's why I think like the Washington market, there's a lot of money here, right?

Like we're not a great indicator of media overall, but like Axios has never been better.

And we just had our best quarters at our best month.

Like it's a, and why?

Because there's just a lot of people who want to reach people in positions of power.

And there's a finite number of ways to do that.

And so I don't really want the competition because not having it benefits us.

But I will say one of the market dynamics I've seen here is that the more competition you have,

It does seem to continue to lift at least our boat, if not all boats.

And so I think competition in all spaces actually sharpens the soul.

And that's why I would welcome it.