1 00:00:05,880 --> 00:00:08,080 Speaker 1: Welcome to Fearing Greed Q and A, where we ask 2 00:00:08,119 --> 00:00:12,240 Speaker 1: and answer questions about business, investing, economics, politics and more. 3 00:00:12,360 --> 00:00:14,800 Speaker 1: I'm Sean Elmer, and good morning, Michael Thompson. 4 00:00:14,840 --> 00:00:15,440 Speaker 2: Hello Sean. 5 00:00:15,920 --> 00:00:18,200 Speaker 1: Now on a Sunday, we do tend to be more 6 00:00:18,239 --> 00:00:21,400 Speaker 1: relaxed and we start talking about stuff we know a 7 00:00:21,400 --> 00:00:22,160 Speaker 1: fair bit about. 8 00:00:22,760 --> 00:00:23,360 Speaker 2: Yes, we do. 9 00:00:23,560 --> 00:00:30,840 Speaker 1: Remember back in COVID the advice was don't start a podcast. 10 00:00:30,440 --> 00:00:34,760 Speaker 2: Ah, because everybody else in the world, everyone else in 11 00:00:34,800 --> 00:00:35,519 Speaker 2: the world did well. 12 00:00:35,560 --> 00:00:40,800 Speaker 1: We're five and a half years through. We have literally 13 00:00:41,000 --> 00:00:42,879 Speaker 1: I don't know the number, but it would be measured 14 00:00:43,159 --> 00:00:46,520 Speaker 1: certainly in the thousands of shows I've done. 15 00:00:46,720 --> 00:00:46,960 Speaker 3: Yep. 16 00:00:48,440 --> 00:00:53,040 Speaker 1: And what I thought we're talking about today the best 17 00:00:53,040 --> 00:00:57,760 Speaker 1: part and the worst part of producing a podcast, putting 18 00:00:57,760 --> 00:00:58,280 Speaker 1: one together. 19 00:00:58,560 --> 00:00:59,920 Speaker 2: That's a great idea. 20 00:01:00,200 --> 00:01:03,560 Speaker 1: It sounds like a great idea doing a podcast. You'll 21 00:01:03,600 --> 00:01:08,160 Speaker 1: stand there, you'll talk about something you know, and people 22 00:01:08,200 --> 00:01:09,320 Speaker 1: will love it. 23 00:01:09,400 --> 00:01:10,040 Speaker 3: In theory. 24 00:01:10,440 --> 00:01:15,080 Speaker 1: In theory, I remember the first podcast we did publicly 25 00:01:15,800 --> 00:01:18,800 Speaker 1: and I must say yourself myself, and we had a 26 00:01:18,880 --> 00:01:20,880 Speaker 1: little bit of a profile, not a huge profile, but 27 00:01:21,400 --> 00:01:25,119 Speaker 1: I remember it came out and I was walking down 28 00:01:25,120 --> 00:01:29,760 Speaker 1: the street looking at our data numbers and I think 29 00:01:29,760 --> 00:01:32,039 Speaker 1: it got to like forty or something or other. Yeah, 30 00:01:32,160 --> 00:01:36,760 Speaker 1: forty people, and I was so excited that forty people 31 00:01:36,840 --> 00:01:41,000 Speaker 1: had listened to a podcast. But Michael Listen's learned. 32 00:01:41,200 --> 00:01:44,600 Speaker 2: Yeah, yeah, goodness me. And it's funny to think that 33 00:01:44,880 --> 00:01:47,800 Speaker 2: on that first day it was forty people. And now 34 00:01:47,800 --> 00:01:51,000 Speaker 2: we're somewhere in the downloads across the last kind of 35 00:01:51,000 --> 00:01:54,720 Speaker 2: five years is twenty two, twenty three, twenty four million. 36 00:01:55,480 --> 00:01:59,600 Speaker 2: It is extraordinary to think that it has has grown 37 00:01:59,680 --> 00:02:02,120 Speaker 2: like that. But it does come back to some of 38 00:02:02,120 --> 00:02:05,480 Speaker 2: these these core lessons and a lot of things that 39 00:02:06,680 --> 00:02:10,120 Speaker 2: my background is in radio, and that they are just 40 00:02:10,280 --> 00:02:13,800 Speaker 2: drummed into you in radio, and the same principles apply 41 00:02:13,960 --> 00:02:18,240 Speaker 2: to podcasting, the importance of consistency, of turning up every 42 00:02:18,400 --> 00:02:20,480 Speaker 2: single day, and that is one of the reasons why 43 00:02:21,360 --> 00:02:24,079 Speaker 2: I think the statistic is that most podcasts stop after 44 00:02:24,120 --> 00:02:29,000 Speaker 2: three months because people just don't You don't realize how 45 00:02:29,160 --> 00:02:32,240 Speaker 2: much work goes into it. That you just it'll be 46 00:02:32,280 --> 00:02:35,040 Speaker 2: fun and it is fun to jump into a studio 47 00:02:35,120 --> 00:02:38,400 Speaker 2: and to start talking about something. But after you do that, 48 00:02:38,639 --> 00:02:40,720 Speaker 2: you then have to do it again and again and 49 00:02:40,760 --> 00:02:42,680 Speaker 2: again and again, and you keep doing it and the 50 00:02:42,720 --> 00:02:44,880 Speaker 2: only way that you are going to build an audience 51 00:02:45,000 --> 00:02:47,240 Speaker 2: is if the audience knows that you are going to 52 00:02:47,240 --> 00:02:50,720 Speaker 2: be there consistently for them, and so that that is 53 00:02:50,760 --> 00:02:55,160 Speaker 2: probably the single biggest lesson I think that I have 54 00:02:55,320 --> 00:02:58,640 Speaker 2: that's been reinforced for me through doing this podcast. The 55 00:02:58,680 --> 00:03:01,120 Speaker 2: importance of just making sure that, hey, we say to 56 00:03:01,120 --> 00:03:03,040 Speaker 2: you that we are going to have an episode of 57 00:03:03,040 --> 00:03:05,840 Speaker 2: fear and Greet out every single morning at the same time, 58 00:03:06,360 --> 00:03:07,200 Speaker 2: we have to do it. 59 00:03:07,520 --> 00:03:10,919 Speaker 1: So that's no different to any content. So people, a 60 00:03:11,280 --> 00:03:15,400 Speaker 1: radio announcer, you turn him or her on every morning 61 00:03:15,400 --> 00:03:17,399 Speaker 1: on the way to work. You expect them to be there. 62 00:03:17,440 --> 00:03:20,960 Speaker 1: There's a cadence to that. There's a cadence to a 63 00:03:21,080 --> 00:03:24,680 Speaker 1: news bulletin on a TV show, There's a cadence to 64 00:03:24,960 --> 00:03:30,079 Speaker 1: a commentator in a newspaper. Exactly the same for podcasts. 65 00:03:30,280 --> 00:03:32,880 Speaker 1: People expect a cadence. People expect it to be there 66 00:03:33,000 --> 00:03:35,080 Speaker 1: when they think it's going to be there. 67 00:03:36,360 --> 00:03:40,480 Speaker 2: There is another one, and it does vary a little bit, 68 00:03:40,520 --> 00:03:43,760 Speaker 2: and that is about the audio quality. And I'm a 69 00:03:43,880 --> 00:03:45,840 Speaker 2: u a pedant, I am a pedant. I am a 70 00:03:45,880 --> 00:03:49,040 Speaker 2: self confessed pedant on this. But the thing is that 71 00:03:49,120 --> 00:03:51,440 Speaker 2: if you're going to invest your time with us, and 72 00:03:51,480 --> 00:03:54,840 Speaker 2: if you're going to spend fifteen minutes listening to us, 73 00:03:55,240 --> 00:03:57,560 Speaker 2: then we want you to be able to enjoy it 74 00:03:57,640 --> 00:03:59,760 Speaker 2: and hear it clearly. And so we put a lot 75 00:03:59,760 --> 00:04:02,560 Speaker 2: of time and effort into making sure that it sounds good. 76 00:04:02,640 --> 00:04:05,720 Speaker 2: And we have a fantastic colleague, Luke, who works with 77 00:04:05,800 --> 00:04:10,560 Speaker 2: us every day, our audio producer, audio engineer, who just 78 00:04:10,560 --> 00:04:13,480 Speaker 2: does a fantastic job in pulling it all together making 79 00:04:13,480 --> 00:04:15,760 Speaker 2: sure it sounds crystal clear. And that is another one 80 00:04:15,800 --> 00:04:18,880 Speaker 2: of those things that comes from radio and into podcasts 81 00:04:19,480 --> 00:04:23,000 Speaker 2: and just emphasizes the fact that you need to put 82 00:04:23,000 --> 00:04:24,960 Speaker 2: a little bit of effort. And in the early days, Sean, 83 00:04:25,000 --> 00:04:25,960 Speaker 2: do you remember. 84 00:04:25,560 --> 00:04:29,040 Speaker 1: How we would would turn up at my house. Yep, 85 00:04:29,160 --> 00:04:33,960 Speaker 1: the audio experts, which I'm not but Michael was, it is, 86 00:04:34,440 --> 00:04:37,680 Speaker 1: and you'd end up in so originally we did it 87 00:04:37,720 --> 00:04:39,800 Speaker 1: from home, and I did it from the cupboard, literally 88 00:04:39,800 --> 00:04:42,760 Speaker 1: a cupboard in the bedroom. And so poor Jackie, you'd 89 00:04:42,760 --> 00:04:45,120 Speaker 1: have to wake up at four o'clock in the morning 90 00:04:45,160 --> 00:04:48,440 Speaker 1: and listen to me talking to you to do the podcast. Yep, 91 00:04:48,600 --> 00:04:50,680 Speaker 1: you haven't been there in the night before, sitting up the studio. 92 00:04:50,760 --> 00:04:53,360 Speaker 1: So that was all fun nowadays we do some in 93 00:04:53,400 --> 00:04:55,360 Speaker 1: the morning, but we actually do some of the night before, 94 00:04:56,000 --> 00:04:58,320 Speaker 1: and so we're not quite up quite as early as 95 00:04:58,400 --> 00:04:59,320 Speaker 1: we used. 96 00:04:59,120 --> 00:05:02,359 Speaker 2: To be times a day. This is the thing that 97 00:05:02,560 --> 00:05:05,240 Speaker 2: because the news is coming through it all times, we're 98 00:05:05,279 --> 00:05:08,680 Speaker 2: recording interviews at different times. We're recording different the afternoon 99 00:05:08,720 --> 00:05:11,600 Speaker 2: report and the morning show and all of these things 100 00:05:11,640 --> 00:05:14,120 Speaker 2: at all different times of the day. So we've got 101 00:05:14,120 --> 00:05:16,720 Speaker 2: home studios to do it in. We have the studios 102 00:05:16,720 --> 00:05:19,400 Speaker 2: here at Nova as well that we are based in. 103 00:05:19,680 --> 00:05:21,640 Speaker 2: But it is a far cry from also the days 104 00:05:21,640 --> 00:05:23,600 Speaker 2: when we just have to pull a blanket over our 105 00:05:23,640 --> 00:05:24,640 Speaker 2: heads to do it. 106 00:05:25,000 --> 00:05:27,200 Speaker 1: Do you know what I've been mazed by podcasting is 107 00:05:27,240 --> 00:05:29,960 Speaker 1: the one on one relationship you have with the listener. 108 00:05:30,480 --> 00:05:33,320 Speaker 1: So you run into people and they say Sean and 109 00:05:33,360 --> 00:05:37,400 Speaker 1: they're like, they're my best friend, and we like it. 110 00:05:37,400 --> 00:05:39,160 Speaker 1: It is such a thrill to get it, you know. 111 00:05:39,400 --> 00:05:41,880 Speaker 1: But I'm thinking to myself, what's your name? I don't 112 00:05:41,920 --> 00:05:43,640 Speaker 1: know you, and then they say, no, no, don't we 113 00:05:43,640 --> 00:05:45,840 Speaker 1: don't know each other. I just listened to your podcast 114 00:05:45,920 --> 00:05:48,920 Speaker 1: and it is a real thrill. Please keep doing that. Yeah, yeah, 115 00:05:49,000 --> 00:05:51,600 Speaker 1: yeah it is, But it's that one on one relationship 116 00:05:51,640 --> 00:05:54,800 Speaker 1: that you have with listeners, which audio does better than 117 00:05:54,839 --> 00:05:57,240 Speaker 1: anywhere else. So I'll tell stories and some I mean, 118 00:05:57,279 --> 00:06:00,120 Speaker 1: I've told the story about my local area, and in 119 00:06:00,160 --> 00:06:01,840 Speaker 1: the local area actually came to me and said, You're sure, 120 00:06:01,920 --> 00:06:03,840 Speaker 1: aren't you so good to sea? And I'm thinking, well, 121 00:06:03,839 --> 00:06:05,400 Speaker 1: I don't know. Is it a school mum or something. 122 00:06:06,040 --> 00:06:08,640 Speaker 1: She just listen to the podcast wanted to know about 123 00:06:08,640 --> 00:06:11,040 Speaker 1: the story about the cafe in the local area that 124 00:06:11,200 --> 00:06:14,240 Speaker 1: I was cranky with for example, that is amazing. Yeah, 125 00:06:14,839 --> 00:06:15,480 Speaker 1: the things are great. 126 00:06:15,600 --> 00:06:19,520 Speaker 2: Yeah. And also then it is one of the reasons 127 00:06:19,560 --> 00:06:22,200 Speaker 2: why and this now sounds like I'm reading from a script, 128 00:06:22,200 --> 00:06:23,800 Speaker 2: but I'm not. It is one of the reasons why 129 00:06:23,839 --> 00:06:27,680 Speaker 2: podcasting has boomed so much in recent years for advertisers 130 00:06:27,800 --> 00:06:30,719 Speaker 2: as well, because it is such a direct way to 131 00:06:30,800 --> 00:06:34,159 Speaker 2: talk to people who are interested in your product. Because 132 00:06:34,200 --> 00:06:37,120 Speaker 2: it's not the case with say radio, where you are 133 00:06:37,160 --> 00:06:39,680 Speaker 2: paying for one hundred percent of the audience and really 134 00:06:39,720 --> 00:06:42,039 Speaker 2: only trying to target maybe one percent or half a 135 00:06:42,040 --> 00:06:44,640 Speaker 2: percent of that audience. You are trying to get in 136 00:06:44,680 --> 00:06:48,360 Speaker 2: touch with people who are specifically interested in what you're 137 00:06:48,400 --> 00:06:50,440 Speaker 2: talking about. And when you are getting quite niche, which 138 00:06:50,480 --> 00:06:52,599 Speaker 2: is what you do in podcasting, whether you're talking about 139 00:06:52,600 --> 00:06:55,839 Speaker 2: business news and finance or investing, or you're talking about 140 00:06:56,000 --> 00:06:59,960 Speaker 2: kind of cats or overseas holidays or something super niche 141 00:07:00,200 --> 00:07:03,400 Speaker 2: the best kind of drill bits to use if you're 142 00:07:03,480 --> 00:07:06,880 Speaker 2: putting a house together. There is a podcast for every 143 00:07:07,120 --> 00:07:11,320 Speaker 2: single topic, and I think that advertisers have realized that 144 00:07:11,600 --> 00:07:14,280 Speaker 2: as well, the power of speaking specifically to the people 145 00:07:14,320 --> 00:07:15,320 Speaker 2: that you want to contact. 146 00:07:15,440 --> 00:07:18,440 Speaker 1: Okay, so the question for both of us the best 147 00:07:18,520 --> 00:07:22,120 Speaker 1: part of doing a podcast and the worst part of 148 00:07:22,160 --> 00:07:25,080 Speaker 1: doing the podcast. So let's go with the worst pass. 149 00:07:25,720 --> 00:07:33,280 Speaker 1: While you're thinking it's relentless. Yeah, every single day you 150 00:07:33,360 --> 00:07:35,880 Speaker 1: have to turn up and produce content. 151 00:07:36,160 --> 00:07:38,760 Speaker 2: We've done that to ourselves. So when we said that 152 00:07:38,800 --> 00:07:40,600 Speaker 2: we are going to have an episode of fear and 153 00:07:40,640 --> 00:07:44,160 Speaker 2: read out three hundred and sixty five days of the year, 154 00:07:44,480 --> 00:07:46,520 Speaker 2: there are not many podcasts that do that. We have 155 00:07:46,640 --> 00:07:48,560 Speaker 2: done that to ourselves. But we've also made that our 156 00:07:48,600 --> 00:07:49,520 Speaker 2: calling cardon a way. 157 00:07:49,600 --> 00:07:53,520 Speaker 1: Yeah yeah, yeah, but I mean to me, that kind 158 00:07:53,520 --> 00:07:58,000 Speaker 1: of consistency that's challenging. Yeah, I find at times, ye, 159 00:07:58,320 --> 00:07:59,239 Speaker 1: your worst part. 160 00:07:59,040 --> 00:08:04,000 Speaker 3: Of it, Ah, the worst part is sometimes you feel 161 00:08:04,000 --> 00:08:06,880 Speaker 3: a little bit cocooned from kind of the way that 162 00:08:07,560 --> 00:08:09,280 Speaker 3: what you're talking about comes across. 163 00:08:09,640 --> 00:08:12,280 Speaker 2: Yes, very tright, and it's very hard. Then when you 164 00:08:12,320 --> 00:08:14,160 Speaker 2: go back and listen to the podcast. 165 00:08:14,200 --> 00:08:15,320 Speaker 1: The worst when you listen to yourself. 166 00:08:15,440 --> 00:08:18,200 Speaker 2: Yeah, it is such an interesting and odd and confronting 167 00:08:18,280 --> 00:08:20,640 Speaker 2: experience to listen to it. And I try to do 168 00:08:20,680 --> 00:08:23,560 Speaker 2: that every day. Listen back to the podcast and see, Okay, 169 00:08:23,840 --> 00:08:27,960 Speaker 2: how am I coming across as a buffoon? No turns 170 00:08:27,960 --> 00:08:28,560 Speaker 2: out I'm nice? 171 00:08:28,840 --> 00:08:29,880 Speaker 1: Oh no, oh okay, all right. 172 00:08:29,920 --> 00:08:32,559 Speaker 2: Well that's very subjective, and I think that's probably the 173 00:08:33,160 --> 00:08:35,319 Speaker 2: hardest part, trying to make sure that what we are 174 00:08:35,360 --> 00:08:38,960 Speaker 2: doing every day is exactly what we need to do 175 00:08:39,360 --> 00:08:42,080 Speaker 2: in order to keep providing what we've said we're going 176 00:08:42,160 --> 00:08:43,120 Speaker 2: to offer to listeners. 177 00:08:43,520 --> 00:08:46,960 Speaker 1: Yeah, okay, so the best part of it, I know 178 00:08:47,000 --> 00:08:51,080 Speaker 1: what you're going to say on you go first. So 179 00:08:52,640 --> 00:08:55,320 Speaker 1: I love journalism like I always have from a sixteen 180 00:08:55,360 --> 00:08:57,640 Speaker 1: year old back in Orange I worked at the local newspaper. 181 00:08:57,840 --> 00:09:01,199 Speaker 1: I just love getting stuff, working out what's going on, 182 00:09:01,800 --> 00:09:05,040 Speaker 1: and having the honor of being able to talk about it. 183 00:09:05,559 --> 00:09:09,640 Speaker 1: And it is a privilege. It is an honor to 184 00:09:09,679 --> 00:09:11,880 Speaker 1: be able to do that. I just every day I think, Wow, 185 00:09:11,920 --> 00:09:13,840 Speaker 1: what's going to happen the day. To go to work 186 00:09:13,840 --> 00:09:16,720 Speaker 1: every day and think what's going on? That's really cool. 187 00:09:17,080 --> 00:09:19,480 Speaker 1: And I have enjoyed it ever since I was a 188 00:09:19,640 --> 00:09:23,079 Speaker 1: first sort of a journalist for a small business newspaper 189 00:09:23,080 --> 00:09:26,640 Speaker 1: called Business Sydney back in the early nineties right through 190 00:09:26,720 --> 00:09:29,560 Speaker 1: to today. I love every day I go to work. 191 00:09:30,000 --> 00:09:33,040 Speaker 2: Michael, I actually I agree with you on that, but 192 00:09:33,120 --> 00:09:37,760 Speaker 2: I'm going to say that I love the fun of 193 00:09:37,880 --> 00:09:40,880 Speaker 2: this podcast. That you wouldn't think that a business news 194 00:09:40,880 --> 00:09:42,640 Speaker 2: podcast should be as fun as it is. 195 00:09:42,840 --> 00:09:49,000 Speaker 1: What listeners don't realize is how much we giggle it. 196 00:09:49,200 --> 00:09:52,840 Speaker 1: Some stories come up and they are kind of ridiculous 197 00:09:52,920 --> 00:09:56,160 Speaker 1: and they're funny, and we have to retake them two, three, 198 00:09:56,320 --> 00:10:00,520 Speaker 1: four times. Then just occasionally you and I specifically, we 199 00:10:00,640 --> 00:10:04,240 Speaker 1: get kind of a fit of giggles about the same thing. 200 00:10:04,520 --> 00:10:07,280 Speaker 1: That's it for ten minutes. Yeah, walk away, not see 201 00:10:07,280 --> 00:10:08,920 Speaker 1: each other, and you come make in the room, you 202 00:10:09,000 --> 00:10:10,439 Speaker 1: laugh again, you walk out again. Yeah. 203 00:10:10,480 --> 00:10:12,480 Speaker 2: It's like trying to make a podcast with a pair 204 00:10:12,520 --> 00:10:15,240 Speaker 2: of fourteen old Yeah, it's like when you're trying not 205 00:10:15,320 --> 00:10:17,200 Speaker 2: to laugh in maths class or I mean, you just 206 00:10:17,280 --> 00:10:20,080 Speaker 2: cannot stop. But the other thing that I love is 207 00:10:20,120 --> 00:10:24,040 Speaker 2: the fact that there is a community around this podcast, 208 00:10:24,040 --> 00:10:26,120 Speaker 2: and you mentioned it when you had someone come up 209 00:10:26,160 --> 00:10:27,920 Speaker 2: to you and ask you about the cafe and things. 210 00:10:27,960 --> 00:10:32,560 Speaker 2: The fact that I find it enormously gratifying that we 211 00:10:32,600 --> 00:10:35,040 Speaker 2: are a part of people's lives, everyday lives, and the 212 00:10:35,080 --> 00:10:36,719 Speaker 2: fact that they do come to Fear and read for 213 00:10:36,880 --> 00:10:39,640 Speaker 2: the news. That is just an amazing thing and it 214 00:10:39,720 --> 00:10:42,720 Speaker 2: is one of the reasons why I still love doing 215 00:10:42,800 --> 00:10:43,640 Speaker 2: it every single day. 216 00:10:43,800 --> 00:10:48,839 Speaker 1: Yep, me too. Alrighty well, I think that's it. Normally 217 00:10:48,920 --> 00:10:50,320 Speaker 1: you do the intro, and I think we'll come to 218 00:10:50,360 --> 00:10:52,959 Speaker 1: a sort of a halt here because I'm supposed to 219 00:10:52,960 --> 00:10:53,760 Speaker 1: be the outro. 220 00:10:54,000 --> 00:10:54,640 Speaker 2: I can do it. 221 00:10:54,960 --> 00:10:57,679 Speaker 1: No, no, no, no no. I think you've done a 222 00:10:57,720 --> 00:11:00,000 Speaker 1: cracking job, Michael. Thank you very much for joining us 223 00:11:00,000 --> 00:11:01,280 Speaker 1: this fine Sunday morning. 224 00:11:01,320 --> 00:11:01,920 Speaker 2: Thank you, Sean. 225 00:11:02,200 --> 00:11:04,600 Speaker 1: If you've got a question you'd like us to tackle, 226 00:11:04,960 --> 00:11:07,520 Speaker 1: send it through on LinkedIn, Instagram, Facebook, or at Fear 227 00:11:07,559 --> 00:11:10,640 Speaker 1: and Greed dot com dot au. I'm sure, amor and 228 00:11:10,720 --> 00:11:12,120 Speaker 1: this is Fear and Greed Q and D.