![]() Peretti has been wrong before, as evidenced by the cratering of BuzzFeed’s stock since the company went public in 2021. ![]() The algorithm that dictates online searches will favor feel-good entertainment in “a huge reversal from the social media landscape of the 2010s” and its reliance on “content that fosters toxicity,” as Axios reported in its description of Mr. ![]() Social media will no longer drive traffic to websites. Things that sow division will go out of style, he wrote. On Thursday, a week after BuzzFeed closed its Pulitzer Prize-winning news division and laid off 15 percent of its staff, Jonah Peretti, the company’s chief executive, predicted in a memo to his remaining employees that the future of the media business lay in “huge cultural moments” and “fun.” ![]()
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