Complex Systems with Patrick McKenzie (patio11)

Telling the tech story

26 snips

Oct 10, 2024

Erik Torenberg, an investor and media entrepreneur behind Turpentine, dives into the intricate dance between tech journalism and the tech industry. He discusses how storytelling in films like 'The Social Network' shapes perceptions of entrepreneurship. The conversation highlights the decline in quality journalism as talent shifts to tech roles, and how social media dynamics lead to groupthink among journalists. Torenberg urges a nuanced understanding of media's influence on tech, moving beyond simplistic narratives.

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ANECDOTE

Social Network's Impact

Patrick McKenzie's wife's friends initially disapproved of him being an entrepreneur.
Their perception changed after seeing "The Social Network," thinking his business might be like Mark Zuckerberg's.

INSIGHT

Unintended Consequences of Cautionary Tales

Movies like "The Social Network" and "Big Short," intended as cautionary tales, often have the opposite effect.
They glamorize the industries they portray, attracting talent despite negative depictions.

INSIGHT

Evaporative Cooling of Journalism

Talented tech journalists are often drawn to more lucrative roles within the tech industry itself.
This "evaporative cooling" effect depletes the pool of quality tech journalism talent.

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In this episode, Patrick McKenzie (patio11) and Erik Torenberg, investor and the media entrepreneur behind Turpentine, explore the evolving relationship between tech journalism and the industry it covers. They discuss how fictional portrayals of industries greatly inform how jobseekers understand those industries, and how the industries understand themselves.

They cover the vacuum in quality tech reporting, the emergence of independent media companies, and industry heavyweights with massive followings. Patrick also brings up the phenomenon of Twitter/Slack crossovers, where coordinated social media action is used to influence internal company policies and public narratives. They examine how this dynamic, combined with economic pressures and ideological motivations, has led to increased groupthink in tech journalism.

Expanding on themes covered in Kelsey Piper’s episode of Complex Systems, this conversation makes more legible the important ways media affects tech, even though tech is arguably a more sophisticated industry – and why there is a need to move beyond simplistic narratives of "holding power accountable" to provide nuanced, informative coverage that helps people understand tech’s impact on society.

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Full transcript available here: https://www.complexsystemspodcast.com/episodes/tech-media-erik-torenberg

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Links:

Bits About Money, “Fiction and Finance” https://www.bitsaboutmoney.com/archive/fiction-about-finance/

Byrne Hobart’s essay on The Social Network https://byrnehobart.medium.com/the-social-network-was-the-most-important-movie-of-all-time-9f91f66018d7
Kelsey Piper on Complex Systems https://open.spotify.com/episode/33rHTZVowaq76tCTaKJfRB

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Twitter:
@patio11
@eriktorenberg

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Timestamps:

(00:00) Intro

(00:27) Fiction and Finance: The power of narrative

(01:41) The Social Network's impact on career choices

(03:34) Cultural perceptions and entrepreneurship

(06:04) Media influence and tech industry perception

(11:01) The role of tech journalism

(14:15) Social media's impact on journalism

(19:39) Sponsors: WorkOS | Check

(21:54) The intersection of media and tech

(39:22) Public intellectualism in tech

(57:40) Wrap

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Complex Systems is part of the Turpentine podcast network. Turpentine also has a social network for top founders and execs: https://www.turpentinenetwork.com/