In the latest episode of Naked Media, media critic and Vanity Fair columnist and Burn Rate author Michael Wolff tells host Dorian Benkoil why he’s not crazy for launching yet another startup, Newser.com, while Steven Kotok, general manager of Dennis’ The Week tells us why the Maxim publisher isn’t daft for sinking money into one more weekly news magazine. Plus: more tips for being an entrepreneur, and why Rush Limbaugh’s goose is cooked.

Our guests on Naked Media, which we produce in partnership with Scribe Media: Chief Digital Strategist for Marsteller, Erin Byrne, and Ogilvy digital strategist Ben Ezrick. They talked about viral video, crisis management, and just what a digital strategist is, anyway.

And in a fun segment, we talked about how teeny tiny media is becoming. And we asked people on the street, including Russell Simmons, just what Twitter is — guess who knew?