On this episode of The Ben & Marc Show, a16z co-founders Marc Andreessen and Ben Horowitz sit down with Erik Torenberg— General Partner at a16z and founder of the media company Turpentine—to unpack how the internet shattered the old media order and reshaped the way power works in America.

What begins as a look at the evolution of media quickly becomes something bigger: a conversation about truth, trust, and the collapse of institutional authority. They explore how social media became both an x-ray and an engine, why authenticity now beats polish, and how the rules of politics, and journalism, have permanently changed.

Together, they break down:

-Why 2017 marked a structural break between tech and the press

-Trump’s real training ground

-The tension between objectivity, activism, and “speaking truth to power”

-Why podcasters. not pundits, are setting the agenda

- How the barbell strategy is reshaping media: short-form virality meets long-form depth

With stops at Watergate, the rise of Rogan, the fall of legacy gatekeepers, and the media playbooks behind Obama, Trump, and the Kardashians—this episode explores how we got here, what’s next, and what it means for founders, voters, and anyone trying to build (or tell) a story.

Timecodes:

0:00 Introduction

0:55 The Evolution of Media: From Centralization to Fragmentation

2:34 The Internet’s Impact on Traditional Media

4:06 Unionization and Technological Change in Media

6:39 Oversupply and Competition in News Organizations

8:44 The Changing Role and Ideology of Journalism

11:46 Speak Truth to Power: Conflicts in Journalism

13:39 The 2016 Election and the Collapse of Media Trust

23:20 Martin Gurri and the Crisis of Authority

31:34 Decentralization: From the 1970s to Social Media

48:06 Trump, Reality TV, and the New Media Playbook

59:10 Drama, Authenticity, and the Barbell Effect in Media

1:16:40 Podcasts, Direct Communication, and the Future of Authority

1:34:48 Advice for Founders and the Importance of Personal Branding

1:37:35 Conclusion & Final Thoughts

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Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

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