How to compete against Google and Facebook: Go around them! (Tim Armstrong, CEO, Oath)

Tim Armstrong, the CEO of Verizon's media properties Yahoo and AOL, talks with Recode's Peter Kafka about how those sites — collectively known as Oath — will survive and evolve. Armstrong, previously an early sales exec at Google, says competing directly against Google and Facebook for advertising dollars would be "the worst thing we could do" and instead, Oath plans to find other ways to win a piece of the pie. He also explains why it makes sense for Verizon to own Yahoo and AOL in the first place, what he learned from the struggles of local news site Patch and whether he would run for political office (no).