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
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:

00:00 Introduction

00:40 The Evolution of Media: From Centralization to Disruption

02:33 The Internet’s Impact on Legacy Media

09:32 Activism in the Modern Tech Press

12:30 The Rise and Fall of Institutional Trust

15:07 Recognizing the Shift in Legacy Media

20:51 Journalism: Objectivity vs. Activism

25:08 Martin Gurri and the Collapse of Authority

28:30 The Trump Era and the Media Paradigm Shift

32:23 Decentralization: From Talk Radio to Social Media

37:04 Is Social Media an Engine or a Camera?

43:50 Ben’s Early Perspective on Media and Politics

49:49 Trump as a Bridge Between Legacy and Social Media

55:44 Media Training vs. Unfiltered Authenticity

57:57 Reality TV, Professional Wrestling, and the New Playbook

1:01:04 Drama, Partisanship, and the Age of Personality

1:03:13 How Cable News Became 24/7 Entertainment

1:09:27 The UFC’s Early Struggles for Media Access

1:14:44 The Barbell Effect: Short Clips vs. Long-Form Podcasts

1:29:30 The Tools of Subversion When Out of Power

1:32:00 Media Strategy for Founders

1:37:16 The Power of Going Direct: Founders, Brands, and Audiences

Listen to Us!

Apple: https://bit.ly/3SdsfNt

Spotify: https://spoti.fi/3SclPOr

Resources:

Marc on X: https://x.com/pmarca

Marc’s Substack: https://pmarca.substack.com/

Ben on X: https://x.com/bhorowitz

Erik on X: https://x.com/eriktorenberg

Erik's Substack: https://eriktorenberg.substack.com/

Stay Updated:

Find us on X: https://x.com/a16z

Find us on LinkedIn: / a16z

This information is for general educational purposes only and is not a recommendation to buy, hold, or sell any investment or financial product. Turpentine is an acquisition of a16z Holdings, L.L.C., and is not a bank, investment adviser, or broker-dealer. Individuals and companies featured during this podcast are not endorsing AH Capital or any of its affiliates (including, but not limited to, a16z Perennial Management L.P.). Any investments or portfolio companies mentioned, referred to, or described in this podcast are not representative of all a16z investments and there can be no assurance that the investments will be profitable or that other investments made in the future will have similar characteristics or results. A list of investments made by a16z is available at https://a16z.com/investment-list/. All investments involve risk, including the possible loss of capital. Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance. Before making decisions with legal, tax, or accounting effects, you should consult appropriate professionals. Information is from sources deemed reliable on the date of publication, but a16z does not guarantee its accuracy.

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