Sooner or later, every expensive thing finds itself supplanted by some technology-driven thing that’s cheaper: Ivory billiard balls were replaced by plastic, silk by nylon, mainframes by desktops, your local recording studio by GarageBand, and so on. Ivory, silk, mainframes, prestigious recording studios, and other luxury-class goods survive, but cost-cutting technological advances have steered them into niches.
BuzzFeed, the aggregation/social-media site, has thrown itself into the content creation business with some big hires. Today, BuzzFeed’s co-founder and CEO Jonah Peretti crowed about picking up Politico’s Ben Smith as its editor-in-chief. Smith, as Politico readers know, breaks news the way rioters break glass: Frequently and with glee. Last week, BuzzFeed added Whitney Jefferson and Matt Cherette from the Gawker enterprise, and a dozen new editorial hires are promised.