BuzzFeed audience is at record highs. But the pandemic's economic effects have crushed the bottom line. BuzzFeed co-founder and CEO Jonah Peretti shares how his company is making hard decisions to build long-term stability. “But the transition is painful,” he says. While BuzzFeed is leaning into food vertical Tasty, new e-commerce habits, and BuzzFeed News, he worries that businesses like his don't have more resources to support staffers of color. But, he says, there's a clarity of purpose in crisis, in bearing witness to the things that are happening in the world. Interviewed by editor Bob Safian. Read a transcript of this episode at https://mastersofscale.com Subscribe to the Masters of Scale weekly newsletter at https://mastersofscale.com/subscribe See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

"Being the first to close is one thing. But I don't want to be the last to open,” says iconic restaurateur Danny Meyer in his second Rapid Response interview. After shutting his iconic New York City restaurants, laying off 2,000 staffers (with hopes to re-hire) and returning a $10m PPP, Danny finds himself reconsidering nearly everything about his business model. Even before the coronavirus lockdown, the restaurant industry had a slew of “preexisting conditions,” Danny says. Now those weaknesses have become exposed, putting at risk the future of hospitality — one of America’s core industries. Danny’s Union Square Hospitality Group is reimagining what and HOW their restaurants serve; rethinking how they generate revenue; and exploring new cost structures, like a bold new relationship with landlords. It’s all in the hopes, says Danny, of getting back to business, with customers safely at their tables, and the teams back together. Interviewed by editor Bob Safian. Read a transcript of this episode at https://mastersofscale.com Subscribe to the Masters of Scale weekly newsletter at https://mastersofscale.com/subscribe See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.