I loved reading CEO Jonah Peretti’s most recent memo to the team at Buzzfeed.
But there are many exciting, tempting, glamorous, lucrative opportunities that we will NOT do in the coming year and as more of these opportunities present themselves it will take discipline to stay on track. We will NOT launch a BuzzFeed TV show, radio station, cable network, or movie franchise — we’ll leave that to the legacy media and Hollywood studios. We will NOT launch a white labeled version of BuzzFeed to power other sites or a BuzzFeed social network — we’ll leave that to pure tech companies in Silicon Valley. We will NOT launch a print edition or a paywall or a paid conference business — we’ll leave that to other publications. We have a great business model that has a bright future as social and mobile continue to become the dominate form of media consumption. We will stay away from anything that requires adopting a legacy business model, even a lucrative one like cable syndication fees or prime time television ads. What seems like a lucrative opportunity today is often a distraction from building something much more exciting tomorrow. We need to stay patient and focused.
Here’s his 2012 memo. I’ve worked at a desk in the Buzzfeed office for as long as they’ve had an office (Fay Da posse represent!), and it’s been fascinating watching Jonah and his team turn a big idea and small blog into a media juggernaut.