The Treasure Was Scissors

Juno's quest log: Condé Nast's boss leaves after seven years with profits growing. Mochi: his own memo says so; events revenue up ninefold since 2020. Queen Honeycomb: when he arrived the company lost over $100 million a year; he cut, 5% of staff in 2023. Tock: subscriptions up 155%. Juno: the treasure was scissors.

In seven years the departing Condé Nast chief turned a publisher losing more than $100 million a year into one he says is on track for another year of profit growth, largely by cutting: 5 percent of staff in 2023, more layoffs last year, Teen Vogue folded into Vogue and Self shut in April, while events revenue grew ninefold and subscription revenue 155 percent since 2020, by his own memo.

Starring

JunoMochiQueen HoneycombTock