Hi, and welcome back to Semafor Business.
It’s been a brutal few weeks in the media business, with major cuts at The Wall Street Journal, Los Angeles Times, and Business Insider joining a drumbeat of layoffs last year at both legacy newsrooms and startups. It’s also a surprisingly dynamic moment — at least we think so. We launched Semafor Signals this week, a global, multi-source breaking news format that takes advantage of shockingly good developments in AI language translation to bring a wider range of views to our readers.
Today we have a scoop on old-meets-new journalism and the generation of billionaires betting on the next generation of influencers. (And no, it’s not David Ellison’s Paramount pursuit.)
Plus, hopes fade for a March rate cut, Palestinian boycotts start to sting Western brands, and the deepfake scams begin.