AI's Impact on News Media

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1:18Really? It seems that AI is getting integrated in more and more ways, and the news industry is not super thrilled about the latest development. But I think there's a lot of potential and I think there's a lot of lessons to learn for people that are using AI tools to grow and scale their businesses. So we're gonna get into all of that. Before we do, Jamie, would you mind telling us a little bit about the AI Hustle school community? Yes, if you've ever been interested in making money online using AI or growing your business using AI and all the tools involved, you need to check out our school community, AI Hustle.

1:56There's over 300 members and we're growing daily, but we release bonus content over there every single week, getting into the nitty gritty details of how we're actually making money online. And this week we had a really interesting episode talking about some of the AI, some of the algorithms with short form videos, specifically over at YouTube and Meta, and how that's impacting just content creation and overall how you can turn that into a funnel. for your business. So we have over 60 videos on there and we again release one every single week and it's a great value. It's only$19 a month. It will be raised in the future so you can lock that in today if you join.

2:35But yeah, it's just a really, really cool place to be. So go check it out. But let's talk about Google and their latest AI summary that's really upsetting a lot of the news outlets. So now they have released with your Google search a news summary, which sources several different news articles and kind of gives you a one paragraph summary of what's going on. So that's upsetting a lot of people, as Jaden said, because it prevents people from clicking on these news publications who make money off ad revenue from their articles. So it's kind of shifting a lot of things in a big way. A lot of people have said about it.

3:18But Jaden, what have you heard specifically about what's going on here? Yeah. So the thing that I think is really interesting is this is going to be on Google Go, I believe, which essentially, or sorry, on Discover, which like basically on iOS, it's less of a big deal, but it's still there. But on Android, you literally, if you swipe to the side on your Android device, by default, Google puts this like screen this Google Discover page, which is just a bunch of news articles that they think are like trending. If you go click on them, it's going to change your algorithm. So it's essentially like a news feed of like news.

3:53And in the past, when I've had an Android device, this is something that I would go to a lot. I'd also try to disable it because I'd find myself wasting way too much time scrolling through news headlines. It's like Twitter or something like that. But what people are not super thrilled about is the fact that now all of this is going to be just news headlines summarized by AI. So the thing that I do think is worth noting though, to people that are like upset about this, I would say, uh, and maybe I'm exposing myself here, but like when I would scroll through Google discover back in the day, half the time, like I wasn't actually clicking on the articles.

4:30I'm like, maybe one out of 10, I would click on, even if I was really interested in the topic, I basically felt like I could get the, like the just of the article from the, from the title, what was happening, which I know sounds horrible. But like, I was usually just kind of scrolling through reading titles. I'm like, okay, interesting, interesting. And then like, I'm like, okay, well, I got I got the news, like, Trump said x, y, and z to this person. And like, this company is doing this. And, you know, like, you kind of get the basic headline. And so I'm not saying that maybe that's the best way to stay informed, because maybe you're supposed to read every single whole article that you see.

5:01But for me, like, it did the point of, you know, keep keeping me up to date on stuff in a relatively small amount of time. So to be honest, I feel like people are actually getting more information now. Um, but if you didn't want to click on the articles before, you're definitely not going to want to click now because you could just get that extra snippet, uh, extra snippet. Jamie, let talk to us about maybe some of the, um, downside maybe to news publishers or where you kind of think this, this goes in the future. I mean, if we have Google search. And now we have Google discovered doing this. Um, and then if you've been over on X, you know that X, whenever something's trending, does the same thing in AI summary.

5:39So you're not having to click on like articles. Uh, does everything eventually just get like AI summaries that does that's what we just consume on the internet? Yeah. I mean, I think it's, things are changing a lot and you know, I want to say, I feel bad about the news publication thing, but honestly, um, I've, I've gotten, I've gotten pretty upset before when I go try to click to actually read an article and then I get hit with the paywall. So, you know, that's kind of what they get for, for doing that. That is brutally true. That's just my opinion, but I know some, some may disagree, but I feel like that's kind of like karma a little bit, if you will.

6:17But aside from that, I think it is, you know, it is a slightly concerning. We talked, you know, in the past about what, if you did have a blog or something and you were an expert in a certain category who made their livelihood off of your blog, and then all of a sudden people aren't clicking on it because they can get an AI summary. That is concerning. So I feel like we talked about some sort of almost like a tokenization of if AI scrapes your page, you can get compensated. Isn't there a company out there who's doing that? Yeah, Cloudflare has a tool that is doing that. so yeah I think basically my take is pretty similar Jamie where like every time I go to Wall Street Journal I just get like so annoyed when they're like pay eight dollars a month and I'm like I'm like if I did it's it's like cable it feels it's like there's way too many platforms to pay for I'm not paying for all of them so I'm not going to pay for the Wall Street Journal's eight dollars and every single one does that so um yeah should they get summarized honestly doesn't really bother me I think one thing that's also kind of interesting there is like with Google news, which is its own app.

7:26I would like subscribe to, um, I don't really use Google news anymore, to be honest. Cause I think I just get everything from X and then I just move on with my day. Um, or I just try not to read any news that day if I'm like trying to really be focused on something. But, um, on like Google news, I used to subscribe to like topics. And the thing that was cool about Google news is it would show you more of like stories from, you essentially can apply your website to be inside of Google News, even if you're not like Fox or CNN or like a big news company. And so like, if you subscribe to sort of a niche topic, which sometimes like I would, I remember in the early days, I subscribed to like the topic of chat GPT.

8:04And before everyone was writing about it, I mean, I guess that probably didn't last long for like a month, but like really small niche things that are, you know, really interesting. Like maybe if you have a toilet paper company, you want to subscribe to janitorial news websites, I don't know, right? Whatever your niche is. You would get those things that weren't from big sites and it was super useful. On the Google Discover though, they stopped doing that. It's only like the big news sites. And so because of that, I'm like, look, you're not showing the little guys anyways. It's these big, huge companies.

8:34Do they really need more eyeballs on them? I'm sure people will be mad at me, but like half of them are paywalled or you only get half the article. So yeah, I think it's not the end of the world. It's the way people want to consume content. Nobody wants to probably, not a lot of people, people I'm sure just live it right now, but we don't always want to read the entire article to just get the thing. It kind of reminds me of like cooking recipes, which I know is probably like a, not a great comparison, but like cooking recipes, if you've ever looked for a cookie recipe or any sort of recipe, the whole, it's like three pages of them telling the background of like how their grandma invented the recipe and how they made it growing up all the time.

9:11And then at the very bottom of the page, they have like the little recipe of like the five ingredients that you need or whatever. And you always have to scroll through and they do it essentially so they can have ads all in the inside. And so they can keep you on the page longer. So it signals to Google, like, look, people stay on my page really long, but it's like a horrible user experience. If all you, if all I want is a recipe, I don't want your blog post ahead of it. So I think in a lot of cases, there's like a lot of content. People just want it condensed. This is the exact same thing. People want it condensed.

9:35What is the opportunity? And I'll tell you what I think the opportunity is. A lot of these text-based platforms are just going to get summarized by AI. And I think there's a lot of opportunity in, you can take that same content, but it's just repackaging a little bit different. And the two main places that I see a ton of opportunity growing, number one is in newsletters. So if someone, if you can get people to specifically subscribe to your industry specific newsletter, it goes straight to their email. You own that channel. You own the email, the email channel and the email news list, and you can send people your content and they can say, subscribe to it.

10:09Or, and it's so much better than a website where it's like algorithmically, it can get buried or killed, whatever. And the other option is via, I think, video. So short form video on different platforms, a podcast, anything like that, where you can share pretty much the same information as an article, you know, we could be talking about here on a podcast, but because people are subscribing to it, because they're interested in this topic, they're going to get those updates that you want to share. And you don't really have to worry about an AI. Like, I don't think there's gonna be an AI. I don't think Google or Apple's rolling out an AI that takes our whole podcast, summarizes it into three bullet points and just gives it to people in that format.

10:46That's just not the way people are consuming it, right? So maybe that will happen. That would be crazy. And then Jamie and I will be complaining. But right now we're not complaining because it's not us. Yeah, I mean, you bring up a great point though. I think the reality is that things are changing. So people are going to have to adapt and find that next way to make money online. If their blog's not working anymore, they're going to have to find to, you know, evolve it and change into, you know, figure out what the next thing is. So that's why you should check out AI hustle. So you can stay on top of some of the, some of those tools.

11:22A hundred percent. Hey, if you enjoyed the episode today, the number one thing that you could do to say thank you to us besides joining the school community, which we would love to have you as a member of. But what would really help us out is if you could leave a review of the podcast, it helps other amazing people like yourself find it. it essentially boosts it in the algorithms on Spotify and Apple if you could leave a review so we really do appreciate them we read them all thank you so much for tuning in and we will catch you guys in the next episode how to have fun anytime anywhere step one go to chumbacasino.com chumbacasino.com got it step two collect your welcome bonus come to papa welcome bonus step three play hundreds of casino style games for free that's a lot of games all for free step four unleash your excitement Woo-hoo!

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12:41If you've been thinking about starting a podcast, this is your sign. Start your new podcast for free today at rss.com.