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Peretti’s second fascination is with CNN—how founder Ted Turner ran a 24-hour news operation at a fraction of the cost of what the networks spent, due in part to prescient use of satellite and cable technology. In the early 1990s, Peretti, who grew up in Oakland, California, attended public school where, he says, “The only music was black music.” The lyrics were full of boasts—selling more albums, earning more money, amassing more bling.