From a New York Times story by Jacob Bernstein headlined “Time Magazine Celebrates as Web Pioneers Wonder What’s Next”:

A week after BuzzFeed closed its Pulitzer Prize-winning news division and laid off 15 percent of its staff, Jonah Peretti, the company’s chief executive, predicted in a memo to his remaining employees that the future of the media business lay in “huge cultural moments” and “fun.”

Things that sow division will go out of style, he wrote. Social media will no longer drive traffic to websites. The algorithm that dictates online searches will favor feel-good entertainment in “a huge reversal from the social media landscape of the 2010s” and its reliance on “content that fosters toxicity,” as Axios reported in its description of Mr. Peretti’s memo.