Decoder with Nilay Patel Decoder with Nilay Patel

It's about ethics in journalism, with Ben Smith

Aug 17, 2026 · 1h 11m

Summary

Nilay Patel interviews Ben Smith, Editor-in-Chief of Semaphore, about the news organization’s "anti-scale" business model that balances journalism with high-profile events. They discuss moving away from traffic-chasing digital strategies, the ethics of hosting industry leaders on advisory boards, and maintaining editorial independence. The conversation also covers Semaphore’s global expansion and its unique "Semiform" writing style.

Topics discussed

Sponsors: DeepGram Flux TTS and Monday.com Semaphore's evolution into an anti-scale media company Lessons from BuzzFeed and the traffic apocalypse Social platforms, UGC, and the failure of ad models Monetizing via events and the convening business Global expansion: Africa, Gulf, and networked audiences International reporting challenges and conservative operators The Semaphore format: separating facts from analysis Decision-making speed and media ethics Competing with Davos: tough interviews at conferences Journalistic independence and the trap of access The clip economy and algorithmic conflict Advertising ethics and native ad conventions Undisclosed advertising and perceived institutional corruption Political influencer marketing and regulatory crackdowns Government regulation of tech and AI Reporting in the Gulf and personalist rule styles AI in reporting and episode wrap-up
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