As both a news junkie and a marketing professional, I can tell you that, with the exception of moving online, “newspapers” have not changed all that much since the days when streetcorner vendors yelled at passersby to “read all about it.” Today, the obvious dilemma for those who want to be in the know is that there is too much to read all about.
Since around 2007, we’ve been living in an era of information overload. Between the internet and smartphones, Google and YouTube, podcasts and blogs, there’s more access to more information coming at us faster than at any moment in history. If you’ve ever watched people with their smartphones or iPads (including me), you can see how everyone is reacting to this glut of information.
They’re scrolling and they’re scanning, they’re moving their fingers up and down the screens, perpetually distracted by the next incoming bit of newsie flotsam or jetsam.
As the headline above indicates, there is one notable exception to this news business state of affairs. Someone with a long-standing vested interest in the category clearly did see how consumers were reacting to the firehose volume of information. And that’s Jim VandeHei, a former Washington Post reporter who, in 2017, along with finance guy, Roy Schwartz and journalist, Mike Allen, founded Axios.
- The founders of Axios created a news service stripped of what they deemed to be unnecessary clutter in favor of bullet points, concise paragraphs extending beyond 300 words only when necessary, departing from standard news formats.
- Axios was launched with a mission to deliver news to professionals in a simple format that helps them get smarter faster across an array of topics, including politics, science, business, health, tech and media. It was able to scale quickly by hiring subject-matter experts to write digestible newsletters on complicated topics.
- Axios, which initially made its mark with short, smart and sharp political scoops, required reading for the Washington crowd, went on to create and trademark the concept of Smart Brevity ® – a fast and concise way to help busy, intelligent people from all walks of life get the information they want across a broad spectrum of subject matter. The founders have since written a book titled, yes, “Smart Brevity: The Power of Saying More with Less,” along with a business based on its philosophy.
- Axios HQ was launched in 2021 with a similar mission of helping internal and external corporate communications departments communicate more efficiently with their stakeholders via proprietary email publishing software.
Why It Matters: Among today’s most successful businesses are those that have significantly transformed our daily routines. This focus on the consumer experience, not solely on product, has enabled them to drive remarkable growth and customer loyalty and, in many cases, to develop entirely new categories. The innovators behind these businesses achieved success by seeing what others had not, and seizing on the opportunities. They were able to see how to make life better, easier or more convenient for consumers. Interviewed by Guy Raz for Raz’s podcast, “How I Built This,” Jim VandeHei told him, “I saw how people were not reading most of the words that any of us in the media were writing. People wanted to consume content in smaller chunks. The lightbulb went on. How can we help people, especially busy, smart people, get smarter faster across more topics.”
Bottom line: You can’t assume people won’t change how they’ve always done things. Offer them some better, never-imagined option and they will. Experience disruption has become the de facto competitive advantage across all categories. In 2022, Axios was sold to Cox Enterprises for $525 million. The deal was structured to ensure investments will flow into local news at a time when most investors have abandoned local markets. Jim VandeHei, Roy Schwartz and Mike Allen continue to play an integral part in the business.
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