For a generation of internet users, BuzzFeed was the internet.

It was where quizzes spread across Facebook feeds, where “The Dress” divided humanity into camps, and where viral content became a legitimate business model. But behind the rise of BuzzFeed was something deeper than listicles or memes: an obsessive founder trying to understand how attention moves through culture.

And now, two decades later, Jonah Peretti is navigating a very different challenge — how to reinvent a company after the internet itself has changed beneath it.

In a recent appearance on How I Built This: Advice Line, Peretti spoke candidly about BuzzFeed’s struggles, the fragmentation of social media, AI-driven experimentation, and why founders should stop over-consuming entrepreneurial advice and start becoming obsessed with real problems instead.

For early-stage founders, his reflections offer a surprisingly important reminder:

The thing that made your business work in one era may not be the thing that carries it into the next.

The Internet Changed — And BuzzFeed Had To Change With It

Peretti explained that the biggest challenge facing BuzzFeed wasn’t necessarily content quality. It was distribution.

Years ago, publishers could rely heavily on Facebook virality. Content spread naturally across social platforms, creating enormous traffic opportunities for media companies. But today’s internet is fragmented.

Some people are on TikTok. Others are on Instagram. Some are leaving social media altogether.

That shift broke the old publishing playbook.

As Peretti put it:

“Content from publishers used to go viral on Facebook all the time… now the social web is really fragmented.”

This is a lesson every founder should internalize.

Most businesses are built on assumptions that eventually expire:

• Ad costs stay low
• Platforms continue rewarding creators
• Algorithms remain stable
• Customer acquisition channels keep working

Then suddenly, they don’t.

What separates enduring founders from temporary winners is the willingness to redesign the business model instead of nostalgically defending the old one.

Peretti says BuzzFeed is now focusing more heavily on direct relationships, community engagement, memberships, and experimentation with new products. In other words: less dependence on platforms, more ownership of audience.

That shift mirrors what many modern founders are realizing right now.

The companies that survive the next decade likely won’t just “grow.” They’ll continuously reinvent themselves.

“Founder Mode” Isn’t About Hustle — It’s About Rebuilding

One of the most revealing moments in the interview came when Peretti discussed BuzzFeed’s financial pressure.

The company disclosed a “going concern” warning — a serious accounting signal that raised questions about its financial future.

But Peretti’s framing was notable.

Instead of treating the moment purely as crisis management, he described it as a return to creativity:

“Now we’re getting back to what we love most, which is innovating and creating new things.”

That mindset matters.

A lot of founders romanticize the early startup days while unknowingly building organizations that become resistant to experimentation later.

But real founder mode isn’t just intensity.

It’s the willingness to question your own operating assumptions.

Peretti discussed BuzzFeed’s new incubator initiatives and experimental AI-powered apps, including one called Conjure Camera, which blends augmented reality, gaming, and social interaction.

The specific product matters less than the underlying philosophy:

Start fresh. Build for the world that exists now — not the one that existed when your company first succeeded.

That’s a difficult psychological shift for founders, especially after success.

Because success creates attachment.

And attachment often prevents reinvention.

The Future Belongs To Community, Not Just Content

Throughout the episode, Peretti repeatedly returned to one idea: people crave connection.

While discussing businesses ranging from outdoor movie experiences to viral cat products, he pointed toward a broader trend happening underneath technology:

Digital abundance is making real-world experiences and authentic communities more valuable.

He described this dynamic clearly:

“If all of a sudden software is sort of infinite… then what becomes scarce is spending time with real people in the world.”

This may become one of the defining startup opportunities of the next decade.

We’re entering a world where:

• AI can generate infinite content
• Apps become easier and cheaper to build
• Digital products commoditize rapidly

Which means differentiation increasingly comes from:

• Community
• Identity
• Emotional connection
• Real-world interaction
• Brand belonging

Founders often underestimate this.

They think they’re selling products.

But increasingly, the winning businesses are selling participation.

You can see this in:

• Creator-led brands
• Membership communities
• Live experiences
• Subscription ecosystems
• Audience-owned media

Even Peretti’s advice to a founder building cat toys reflected this principle: the real moat wasn’t necessarily the physical product — it was the media ecosystem and community around it.

That’s a powerful shift in thinking.

Jonah Peretti’s Most Important Advice: Stop Studying Founders So Much

Near the end of the episode, Guy Raz asked Peretti what advice he’d give his younger self.

His answer was surprisingly contrarian.

Peretti argued that advice itself can become a trap.

Specifically, he warned against consuming endless startup content without becoming deeply obsessed with an actual problem.

“Sometimes I’ve seen that lead to paralysis where people have trouble just getting obsessed with something that they notice in their life.”

That observation cuts against modern startup culture.

Today, aspiring entrepreneurs often spend years:

• Listening to podcasts
• Reading founder biographies
• Watching productivity videos
• Studying frameworks

But not actually building.

Peretti’s point wasn’t that learning is useless.

It’s that meaningful companies usually emerge from obsession first — strategy second.

BuzzFeed didn’t start because Peretti wanted to “be an entrepreneur.”

It started because he became fascinated by one specific phenomenon:

Why things spread online.

That obsession pulled him forward.

And that’s often how the best businesses begin.

Not through calculated optimization.

But through curiosity intense enough that you can’t stop thinking about the problem.

The Bigger Takeaway For Founders

The most interesting part of Jonah Peretti’s story isn’t that BuzzFeed became massive.

It’s that 20 years later, he’s still trying to figure things out.

Still experimenting.

Still rebuilding.

Still adapting.

That’s entrepreneurship.

Not a straight line toward certainty — but a repeated willingness to evolve when the world changes around you.

And in today’s environment, that willingness may matter more than ever.