Matt Taibbi Quits Rolling Stone to Join Omidyar’s First Look Media

Matt Taibbi

Matt Taibbi

Photo by Neilson Barnard/Getty Images

Rolling Stone’s loss is Pierre Omidyar’s gain. Matt Taibbi is joining First Look Media, the same organization where Glenn Greenwald, Jeremy Scahill, and Laura Poitras are on the masthead at The Intercept– but Taibbi will lead his own publication focused on financial and political corruption. The new magazine does not yet have a name or a precise launch date.

Matt Taibbi, who made a name as a fierce critic of Wall Street at Rolling Stone magazine, has joined First Look Media, the latest big-name journalist to leave an established brand to enter the thriving and well-financed world of news start-ups, wrote Ravi Somaiya.

Mr. Taibbi will start his own publication focusing on financial and political corruption, he said in an interview on Wednesday. First Look is financed by the eBay founder Pierre Omidyar, who is worth $8.5 billion, according to Forbes. Mr. Omidyar has pledged $250 million to the project.

Read Matt’s thank you note to Rolling Stone Magazine:

Thank You, Rolling Stone

By Matt Taibbi
POSTED: February 20, 10:35 AM ET

Today is my last day at Rolling Stone. As of this week, I’m leaving to work for First Look Media, the new organization that’s already home to reporters like Glenn Greenwald, Jeremy Scahill and Laura Poitras.

I’ll have plenty of time to talk about the new job elsewhere. But in this space, I just want to talk about Rolling Stone, and express my thanks. Today is a very bittersweet day for me. As excited as I am about the new opportunity, I’m sad to be leaving this company.

More than 15 years ago, Rolling Stone sent a reporter, Brian Preston, to do a story on the eXile, the biweekly English-language newspaper I was editing in Moscow at the time with Mark Ames. We abused the polite Canadian Preston terribly – I think we thought we were being hospitable – and he promptly went home and wrote a story about us that was painful, funny and somewhat embarrassingly accurate. Looking back at that story now, in fact, I’m surprised that Rolling Stone managing editor Will Dana gave me a call years later, after I’d returned to the States.

I remember when Will called, because it was such an important moment in my life. I was on the American side of Niagara Falls, walking with friends, when my cell phone rang. Night had just fallen and when Will invited me to write a few things in advance of the 2004 presidential election, I nearly walked into the river just above the Falls.

At the time, I was having a hard time re-acclimating to life in America and was a mess personally. I was broke and having anxiety attacks. I specifically remember buying three cans of corned beef hash with the last dollars of available credit on my last credit card somewhere during that period. Anyway I botched several early assignments for the magazine, but Will was patient and eventually brought me on to write on a regular basis.

It was my first real job and it changed my life. Had Rolling Stone not given me a chance that year, God knows where I’d be – one of the ideas I was considering most seriously at the time was going to Ukraine to enroll in medical school, of all things.

In the years that followed, both Will and editor/publisher Jann S. Wenner were incredibly encouraging and taught me most of what I now know about this business. It’s been an amazing experience. I’ve had a front-row seat for some of the strangest and most interesting episodes of our recent history. At various times, thanks to this magazine, I’ve spent days hiding in a cell at the infamous Abu Ghraib prison in Iraq, gone undercover in an apocalyptic church in Texas (where I learned to vomit my demons into a paper bag), and even helped run a campaign office for George W. Bush along the I-4 corridor in Florida, getting so into the assignment that I was involuntarily happy when Bush won.

I was at the Michael Jackson trial, so close to the defendant I could see the outlines of his original nose. I met past and future presidents. I shared Udon noodles with Dennis Kucinich in a van on a highway in Maine. And I paddled down the streets of Katrina-ravaged New Orleans, so deep into the disaster zone that a soldier in a rescue copter above mistook me for a victim and threw a Meal Ready to Eat off my head. I still have that MRE, it has some kind of pop tart in it – I’m going to give it to my son someday.

To be able to say you work for Rolling Stone, it’s a feeling any journalist in his right mind should want to experience. The magazine’s very name is like a magic word. I noticed it from the very first assignment. Even people who know they probably shouldn’t talk to you, do, once they hear you’re from the magazine Dr. Hook sang about. And if they actually see the business card, forget it. People will do anything to get into the magazine, to have some of that iconic cool rub off on them.

There were times when I would think about the great reporters and writers who’ve had the same job I was so lucky to have, and it would be almost overwhelming – it was like being the Dread Pirate Roberts. It was a true honor and I’ll eternally be in the debt of Will and Jann, and Sean Woods and Coco McPherson and Victor Juhasz and Alison Weinflash and so many others with whom it was my privilege to work. I wish there was something I could say that is stronger than Thank You.

No journalist has ever been luckier than me. Thank you, Rolling Stone.

—–
We’ll miss you Matt!

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