Interview Only w/ Mike Pesca - The Media Meltdown: AI, Billionaires, and the Collapse of Trust

Mike Pesca, host of “The Gist” joins Chuck Todd for a wide-ranging conversation about the state of media, technology, and trust at the end of 2025—and where things may be headed next. They dig into how legacy media is being reshaped by new owners, shrinking business models, and audience capture, with a close look at CBS, the Ellisons, and whether disruption is a threat or a lifeline for traditional news brands. Pesca also reflects on the rise of nonprofit journalism, the limits of AI in reporting, and why Congress has largely abdicated its role in regulating both media and tech. The discussion then turns to the growing unease around AI, gambling, and prediction markets, from bipartisan support for getting smartphones out of schools to fears that unregulated betting is distorting journalism, sports, and public life. Pesca and Todd explore why optimism around AI is collapsing, how insider information can be exploited in everything from sports gambling to political markets, and why many of today’s “innovations” feel eerily similar to past technological panics. The throughline: institutions are lagging behind rapid change, and the cost of that delay is showing up everywhere—from newsrooms to classrooms to democracy itself. Get your wardrobe sorted and your gift list handled with Quince. Don't wait! Go to https://Quince.com/CHUCK for free shipping on your order and 365-day returns. Now available in Canada, too! Go to https://getsoul.com & enter code TODDCAST for 30% off your first order. Got injured in an accident? You could be one click away from a claim worth millions. Just visit https://www.forthepeople.com/TODDCAST to start your claim now with Morgan & Morgan without leaving your couch. Remember, it's free unless you win! Protect your family with life insurance from Ethos. Get up to $3 million in coverage in as little as 10 minutes at https://ethos.com/chuck. Application times may vary. Rates may vary. Timeline: (Timestamps may vary based on advertisements) 00:00 Mike Pesca joins the Chuck ToddCast 01:30 Rundown of Mike’s many “hustles” 03:15 Is the information ecosystem better or worse at the end of 2025? 04:30 CBS News under Bari Weiss is now selling a different product 06:00 Legacy media could benefit from some disruption 06:45 Weiss gave up working for the Salzbergers to work for the Ellisons 07:30 There’s no money in producing network news 09:45 There was audience capture at the New York Times 11:00 A boring president will make the Ellisons care less about CBS 13:00 David Ellison isn’t ideologically MAGA or even a Republican 14:00 Silicon Valley is less ideological, just want less regulation 14:45 Ellisons are treating CBS as part of their lobbying budget 15:45 A huge part of 60 Minutes popularity is that it airs after football 16:30 CBS has brands that will survive even if the network doesn’t 17:45 We’re a few years away from local TV affiliates going a-la-carte 19:00 Channel numbers are meaningless to younger audiences 19:30 Non profits like ProPublica are doing some of the best journalism 20:45 AI can’t replace people in the journalism space 21:45 NOTUS is the only organization covering DC locally 23:15 Historically, American media has been partisan 24:00 Big newspapers should have two editorial sections 26:30 Imagine if Bezos built an “everything” newspaper like he did Amazon 28:00 AI transition will be painful, fear of AI displacement will dominate 28:45 New polling shows huge drop in optimism surrounding AI 30:15 Sam Altman shocked the world by saying “Please regulate me” 31:15 We need more visibility into how AI actually works 32:00 The regulators are always too old & removed from new tech 32:45 Congress has willingly abdicated their regulatory role 34:30 Employees at AI companies express worry it could go very wrong 35:30 Getting tech/smartphones out of schools has bipartisan agreement 37:15 There have always been panics about major tech change 38:15 Sports gambling without regulation has been a disaster 40:45 Athletes can easily fix a player prop to make money 42:15 Online casinos should have never been allowed to exist 44:15 Insider info can easily been cashed in on prediction markets 46:15 Will insider trading laws now affect copy editors at publications? 47:30 Betting has drastically affected coverage at ESPN 49:00 College football playoff selection is totally subjective 51:30 Potential fixes to college football playoff selection 55:00 Will prediction markets remain legal? 56:45 Pandemics make society do crazy things 57:45 Online casinos will likely become illegal in the coming years 1:00:00 The states didn’t roll out marijuana legalization the right way See omnystudio.com/listener for privacy information.