1 00:00:06,160 --> 00:00:09,840 Speaker 1: Welcome to another episode of the Strictly Business podcast, where 2 00:00:09,840 --> 00:00:12,119 Speaker 1: we talk with some of the brightest minds working in 3 00:00:12,119 --> 00:00:15,520 Speaker 1: the media business today. On Variety co editor in chief 4 00:00:15,560 --> 00:00:18,880 Speaker 1: Andrew Wallenstein, I'm asked what I think about a wide 5 00:00:19,040 --> 00:00:22,560 Speaker 1: range of ventures here in Hollywood, but none lately more 6 00:00:22,640 --> 00:00:27,040 Speaker 1: so than something called Quimby. That's the new mobile video 7 00:00:27,080 --> 00:00:29,800 Speaker 1: app in the works from two legends from media and 8 00:00:29,840 --> 00:00:34,440 Speaker 1: tech circles, former Disney and DreamWorks Animation chief Jeffrey Katzenberg 9 00:00:34,880 --> 00:00:39,360 Speaker 1: and former Hewlert Packard CEO Meg Whitman. My conversation with 10 00:00:39,440 --> 00:00:42,559 Speaker 1: them was recorded from the stage of the Innovate Summit 11 00:00:43,000 --> 00:00:46,880 Speaker 1: in Los Angeles on December five. I hope you enjoy. 12 00:00:48,960 --> 00:00:51,760 Speaker 1: For those who have been under a rock this past 13 00:00:51,840 --> 00:00:54,840 Speaker 1: year or so, let's get the elevator pitch out on 14 00:00:54,960 --> 00:00:58,200 Speaker 1: what you guys have been working on. Uh, talk about 15 00:00:58,520 --> 00:01:01,440 Speaker 1: the state of Quimby. Yeah. Well, first of all, thank 16 00:01:01,440 --> 00:01:03,959 Speaker 1: you for having us this morning. We're delighted to be here. Um. 17 00:01:04,120 --> 00:01:08,399 Speaker 1: So we are building the first entertainment platform built mobile 18 00:01:08,520 --> 00:01:12,400 Speaker 1: only for quick bite meaning short form under ten minutes 19 00:01:12,520 --> 00:01:16,559 Speaker 1: quick bite content made by Hollywood's top creators. And uh, 20 00:01:16,680 --> 00:01:19,400 Speaker 1: we have really been in business we raised our initial 21 00:01:19,440 --> 00:01:21,560 Speaker 1: funding ground which we closed on July thirty one, So 22 00:01:21,560 --> 00:01:25,520 Speaker 1: we've been in business effectively since August one. And uh, 23 00:01:25,600 --> 00:01:28,720 Speaker 1: we are commissioning content, we are building the tech platform. 24 00:01:28,760 --> 00:01:31,160 Speaker 1: We are hiring people. I think today we're at forty 25 00:01:31,160 --> 00:01:35,560 Speaker 1: eight people, up from five on August one, and um, 26 00:01:35,600 --> 00:01:38,639 Speaker 1: we are super excited about the opportunity that lies ahead. 27 00:01:38,959 --> 00:01:41,399 Speaker 1: The name is a contraction of quick bites, which is 28 00:01:41,440 --> 00:01:43,640 Speaker 1: what we have called this content for a long period 29 00:01:43,680 --> 00:01:46,280 Speaker 1: of time. And so it's a contraction of quick bites. 30 00:01:46,319 --> 00:01:48,920 Speaker 1: And people seem to like Quimby. You know, it's memorable, 31 00:01:48,920 --> 00:01:51,000 Speaker 1: It rolls off people's tongue. It says what we do. 32 00:01:51,520 --> 00:01:54,080 Speaker 1: And uh, so we're we're off and running and we're 33 00:01:54,080 --> 00:01:58,000 Speaker 1: excited about it. And what is the roadmap ahead? You 34 00:01:58,000 --> 00:02:01,320 Speaker 1: guys are developing stuff. You have some interesting projects that 35 00:02:01,320 --> 00:02:05,120 Speaker 1: you're starting to announce. Uh, Jeffrey, what do you what 36 00:02:05,160 --> 00:02:07,560 Speaker 1: do you see the next twelve months looking like for Quimby? Well, 37 00:02:07,600 --> 00:02:10,000 Speaker 1: I think it's a it's a lot of things, and 38 00:02:10,560 --> 00:02:14,440 Speaker 1: you know, I think may can expand on a good 39 00:02:14,520 --> 00:02:21,040 Speaker 1: part of it. Um. But from a content standpoint, UM, 40 00:02:21,080 --> 00:02:24,520 Speaker 1: we have to achieve two essential things for this to 41 00:02:24,560 --> 00:02:29,600 Speaker 1: be successful one which is, as we have discussed, UM 42 00:02:29,840 --> 00:02:34,040 Speaker 1: raised the quality to an unprecedented level, and which is 43 00:02:34,080 --> 00:02:39,440 Speaker 1: make said we bring the very best quality, production, talent, 44 00:02:40,000 --> 00:02:45,520 Speaker 1: financial resources UM to UM. Uh. You know what has 45 00:02:45,560 --> 00:02:49,600 Speaker 1: been this world of UM. You know, pretty amazing work 46 00:02:49,639 --> 00:02:53,760 Speaker 1: that's gone on on YouTube, Facebook, Instagram, snapchat. UM. But 47 00:02:54,080 --> 00:02:57,280 Speaker 1: we're looking to do something at a pretty high level. 48 00:02:57,320 --> 00:02:59,560 Speaker 1: And we can talk a little bit and give you 49 00:02:59,600 --> 00:03:02,119 Speaker 1: a good and allergy about that. But at the same time, 50 00:03:02,120 --> 00:03:05,720 Speaker 1: we also have to achieve a phenomenal volume of content. 51 00:03:06,200 --> 00:03:08,919 Speaker 1: So just to put in perspective, once we go live, 52 00:03:09,760 --> 00:03:13,720 Speaker 1: we will deliver in the first twelve months five thousand 53 00:03:14,240 --> 00:03:18,079 Speaker 1: quick bites. So it's a it's a high bar. So 54 00:03:18,560 --> 00:03:21,240 Speaker 1: on the content side, it's building the team out. Remember 55 00:03:21,280 --> 00:03:24,400 Speaker 1: we don't produce anything. We commission our content. We are 56 00:03:24,440 --> 00:03:32,040 Speaker 1: a licensor of content from everybody in the production Hollywood ecosystem. UH, 57 00:03:32,080 --> 00:03:35,040 Speaker 1: you know, at the highest ends of it. UM. But 58 00:03:35,360 --> 00:03:39,400 Speaker 1: at the same time, UH, we have to build UM 59 00:03:39,520 --> 00:03:43,920 Speaker 1: a user experience UM in the way in which this 60 00:03:44,080 --> 00:03:48,240 Speaker 1: unique content is consumed in an equally unique way. And 61 00:03:48,320 --> 00:03:52,000 Speaker 1: so in the world of product, which is how people 62 00:03:52,000 --> 00:03:56,200 Speaker 1: are actually going to experience and be served up our content. 63 00:03:56,840 --> 00:04:00,560 Speaker 1: Mega's put together a world class engineering team and product 64 00:04:00,720 --> 00:04:04,720 Speaker 1: development team, and that bar for us is as essential 65 00:04:04,840 --> 00:04:08,440 Speaker 1: and as high UM. So there's there's a lot of 66 00:04:08,480 --> 00:04:11,120 Speaker 1: things to get on our to do list. Do you 67 00:04:11,120 --> 00:04:13,320 Speaker 1: guys at this point know when you're going to be 68 00:04:13,400 --> 00:04:18,320 Speaker 1: in market, So either the last part of or the 69 00:04:18,360 --> 00:04:22,480 Speaker 1: first quarter probably, and it just depends on what's going 70 00:04:22,520 --> 00:04:24,440 Speaker 1: on in the marketplace and how ready we are. We 71 00:04:24,480 --> 00:04:26,560 Speaker 1: have one chance to launch, and we needed to be 72 00:04:26,600 --> 00:04:29,080 Speaker 1: as absolutely close to perfect as it can possibly be 73 00:04:29,160 --> 00:04:32,640 Speaker 1: from a content perspective and engineering perspective. So we'll see 74 00:04:32,800 --> 00:04:35,880 Speaker 1: from the biggest challenge and we know this right now, 75 00:04:35,960 --> 00:04:38,800 Speaker 1: is the volume of content to you know, to hit 76 00:04:38,839 --> 00:04:42,640 Speaker 1: this quality that we want and the quantity UM. It's 77 00:04:42,680 --> 00:04:45,240 Speaker 1: a tall order to deliver that in the next twelve months, 78 00:04:45,279 --> 00:04:47,640 Speaker 1: but that doesn't mean we're not going to try. UM 79 00:04:47,680 --> 00:04:51,279 Speaker 1: So we're giving ourselves a lot of flexibility where we're 80 00:04:51,279 --> 00:04:54,640 Speaker 1: not going to get locked into something. As Meg said, 81 00:04:55,040 --> 00:04:57,400 Speaker 1: when we come we have to hit a home run. 82 00:04:57,520 --> 00:04:59,600 Speaker 1: I think what people sometimes forget is this is the 83 00:04:59,640 --> 00:05:03,640 Speaker 1: first UM platform that has ever been launched without a library. 84 00:05:03,800 --> 00:05:06,440 Speaker 1: There's no library to buy because no one has done 85 00:05:06,480 --> 00:05:09,880 Speaker 1: this quality content in this format, and so every bit 86 00:05:09,920 --> 00:05:12,480 Speaker 1: of content has to be made de novo with our 87 00:05:13,040 --> 00:05:16,240 Speaker 1: with our partners. And it's the format question I want 88 00:05:16,240 --> 00:05:19,160 Speaker 1: to dig into first, because you guys are are It's 89 00:05:19,160 --> 00:05:22,039 Speaker 1: not that short form content doesn't exist, but you're doing 90 00:05:22,040 --> 00:05:25,600 Speaker 1: it at a level that I don't think it's existed 91 00:05:25,640 --> 00:05:28,760 Speaker 1: at volume. So when you're out there talking to the 92 00:05:28,800 --> 00:05:32,600 Speaker 1: creative community, how do you even pitch this? Are they 93 00:05:32,680 --> 00:05:36,600 Speaker 1: even thinking in five ten minute bites? Well, here's the 94 00:05:37,040 --> 00:05:39,560 Speaker 1: I think. I think that's where and that's why we 95 00:05:40,360 --> 00:05:45,000 Speaker 1: are trying to UM move ourselves into something where we're 96 00:05:45,040 --> 00:05:48,159 Speaker 1: not in the short form business. It's why we sort 97 00:05:48,200 --> 00:05:51,040 Speaker 1: of are embracing this idea of quick bites. And let 98 00:05:51,040 --> 00:05:55,240 Speaker 1: me try and put that into context. UM. For for us, 99 00:05:56,080 --> 00:06:01,320 Speaker 1: a lighthouse show is um a two to three hour 100 00:06:01,520 --> 00:06:07,000 Speaker 1: story that you can actually consume in bites that are 101 00:06:07,120 --> 00:06:12,920 Speaker 1: under ten minutes. UM. This is the convergence of two 102 00:06:13,040 --> 00:06:19,680 Speaker 1: very try, true, tested and phenomenally successful existing forms of 103 00:06:20,120 --> 00:06:26,039 Speaker 1: um UH filmed media. So what does that mean? So 104 00:06:26,120 --> 00:06:30,920 Speaker 1: for the beginning, at the the beginning of the twentieth century, UH, 105 00:06:31,000 --> 00:06:33,800 Speaker 1: we pioneered out on this path our industry and we 106 00:06:33,880 --> 00:06:39,719 Speaker 1: made movies, and they quickly migrated into storytelling that is 107 00:06:39,720 --> 00:06:43,480 Speaker 1: two to three hours in length, and that has worked 108 00:06:43,480 --> 00:06:46,520 Speaker 1: and continues to this to the to today to be 109 00:06:46,720 --> 00:06:51,839 Speaker 1: a widely accepted form of narrative film storytelling. In the 110 00:06:51,839 --> 00:06:56,159 Speaker 1: middle of the twentieth century, television came along, and now 111 00:06:56,320 --> 00:07:00,440 Speaker 1: we found a new form of narrative storytelling which posibly, 112 00:07:00,760 --> 00:07:04,719 Speaker 1: not exclusively, but principally is in one hour chunks, and 113 00:07:05,000 --> 00:07:11,280 Speaker 1: was formed and formatted to fit into broadcast television. And 114 00:07:11,440 --> 00:07:15,840 Speaker 1: so for seventy years, uh many of the greatest talents 115 00:07:15,840 --> 00:07:22,080 Speaker 1: and showrunners creators have been delivering their stories in chapters. 116 00:07:22,840 --> 00:07:25,480 Speaker 1: We call them act breaks. In this town. The first 117 00:07:25,480 --> 00:07:27,440 Speaker 1: act of this is US is eight and a half minutes. 118 00:07:27,720 --> 00:07:31,160 Speaker 1: There's then a break, and there are five of them, 119 00:07:31,240 --> 00:07:34,080 Speaker 1: and then they deliver a forty two minutes show. And 120 00:07:34,120 --> 00:07:37,480 Speaker 1: it's not you know, forty one forty one week and 121 00:07:37,520 --> 00:07:40,800 Speaker 1: forty two ten the next week. In it it's to 122 00:07:41,000 --> 00:07:44,680 Speaker 1: the second forty two minutes. And so this idea that 123 00:07:44,720 --> 00:07:50,240 Speaker 1: we're contracting together these two tried, true, tested, you know sciences, 124 00:07:50,440 --> 00:07:52,720 Speaker 1: which it's a it's a proven science with a new 125 00:07:52,760 --> 00:07:55,880 Speaker 1: application to it. The example which I've given to you 126 00:07:56,000 --> 00:07:58,760 Speaker 1: before and you've actually written about before. Is what happened 127 00:07:58,800 --> 00:08:03,560 Speaker 1: in publishing where Dan Brown just he was the one 128 00:08:03,600 --> 00:08:06,000 Speaker 1: that just made the greatest impression on me. Is neither 129 00:08:06,040 --> 00:08:07,720 Speaker 1: the first nor the only to do it. It's just 130 00:08:07,760 --> 00:08:11,040 Speaker 1: the one that really, you know, landed for me. Is 131 00:08:11,280 --> 00:08:13,920 Speaker 1: he wrote the Da Vinci Codes FO sixty four pages 132 00:08:14,040 --> 00:08:16,680 Speaker 1: long and the has a hundred and five chapters. The 133 00:08:16,720 --> 00:08:19,880 Speaker 1: average chapter is less than five minutes. So I get it. 134 00:08:19,960 --> 00:08:23,720 Speaker 1: By innovating in terms of the increments of content, you 135 00:08:23,720 --> 00:08:26,400 Speaker 1: guys are going to do something that feels more conducive 136 00:08:26,440 --> 00:08:30,120 Speaker 1: to the mobile experience as opposed to TV or film. 137 00:08:30,200 --> 00:08:34,440 Speaker 1: But is it possible that what mobile is about is 138 00:08:34,559 --> 00:08:40,120 Speaker 1: giving people the ability not to consume these new shorter increments, 139 00:08:40,520 --> 00:08:44,560 Speaker 1: but to go through films and TVs at their own pace, 140 00:08:45,040 --> 00:08:48,079 Speaker 1: stopping and starting at their own leisure. So I think 141 00:08:48,080 --> 00:08:50,120 Speaker 1: one of the things to consider is, remember Jeffrey said, 142 00:08:50,120 --> 00:08:51,960 Speaker 1: we are not a studio, so we don't make any 143 00:08:51,960 --> 00:08:54,319 Speaker 1: of our own content. But the other thing people often 144 00:08:54,360 --> 00:08:57,200 Speaker 1: forget is this is a very different use case. This 145 00:08:57,320 --> 00:08:59,840 Speaker 1: is on the go viewing. So you leave your house 146 00:09:00,040 --> 00:09:01,760 Speaker 1: Dray morning with a little TV in your pocket. It's 147 00:09:01,760 --> 00:09:03,959 Speaker 1: called your smartphone. And during the day, think about it. 148 00:09:04,000 --> 00:09:06,400 Speaker 1: You have these in between moments ten minutes here, five 149 00:09:06,400 --> 00:09:09,240 Speaker 1: minutes here, fifteen minutes there where you want to see 150 00:09:09,280 --> 00:09:11,720 Speaker 1: something great. And whether it's waiting in line at Starbucks 151 00:09:11,800 --> 00:09:13,360 Speaker 1: or waiting for a meeting to start, or waiting for 152 00:09:13,400 --> 00:09:15,800 Speaker 1: friends for lunch, or at a doctor's office. And so 153 00:09:15,840 --> 00:09:18,040 Speaker 1: it's a very different use case, and people are looking 154 00:09:18,080 --> 00:09:20,800 Speaker 1: for things that are of a you know, something that's 155 00:09:20,840 --> 00:09:23,439 Speaker 1: really like a gem for that little moment in time. 156 00:09:23,720 --> 00:09:26,440 Speaker 1: And again, Jeffrey said it. YouTube has done a fantastic job. 157 00:09:26,440 --> 00:09:29,040 Speaker 1: It is the most democratized video platform in the world. 158 00:09:29,400 --> 00:09:30,839 Speaker 1: But what we want to do is a little bit 159 00:09:30,840 --> 00:09:33,480 Speaker 1: the analogy of what HBO did when they launched. HBO 160 00:09:33,559 --> 00:09:36,440 Speaker 1: launched at the height of advertiser supported TV. And remember 161 00:09:36,480 --> 00:09:40,439 Speaker 1: what their tagline was, We're not TV where Hbo and 162 00:09:40,720 --> 00:09:44,160 Speaker 1: so we're not short form you know, YouTube, Snapchat, Instagram, 163 00:09:44,160 --> 00:09:46,360 Speaker 1: we're quimby and so it will be that much of 164 00:09:46,360 --> 00:09:49,720 Speaker 1: a step up in the quality and storytelling. And think 165 00:09:49,720 --> 00:09:53,200 Speaker 1: of the four things that HBO did. They eliminated commercials, 166 00:09:53,400 --> 00:09:56,440 Speaker 1: they freed the form and formats they were not behold 167 00:09:56,440 --> 00:10:00,640 Speaker 1: in the thirty sixty all right, so so far check 168 00:10:00,720 --> 00:10:03,320 Speaker 1: those new boxes for us. Third is they were not 169 00:10:03,400 --> 00:10:07,360 Speaker 1: beholding the standards and practices, so they could make any content. 170 00:10:07,440 --> 00:10:10,120 Speaker 1: You could have sex in the city, you could have sopranos, 171 00:10:10,160 --> 00:10:13,839 Speaker 1: you have the wire in this. And third they they 172 00:10:13,880 --> 00:10:17,320 Speaker 1: spent UH at a level of production that an AD 173 00:10:17,400 --> 00:10:20,320 Speaker 1: supported world simply could not compete with. So they ordered 174 00:10:20,360 --> 00:10:23,760 Speaker 1: ten episodes a Band of Brothers for a million dollars. 175 00:10:24,280 --> 00:10:27,120 Speaker 1: You translate that to today, that's like thirty million dollars 176 00:10:27,120 --> 00:10:30,560 Speaker 1: in episode. So we check all of those four boxes 177 00:10:30,600 --> 00:10:33,600 Speaker 1: when we say we're not short form, we're Quimby. And 178 00:10:33,640 --> 00:10:36,840 Speaker 1: so to bring that kind of quality of production and 179 00:10:36,920 --> 00:10:41,040 Speaker 1: talent UH to this um, you know, I just think 180 00:10:41,080 --> 00:10:45,360 Speaker 1: it is a singularly and and and unique experience to 181 00:10:45,400 --> 00:10:48,320 Speaker 1: anything that's there today. But you guys are going to, 182 00:10:48,640 --> 00:10:52,600 Speaker 1: you know, hopefully be the brand for the way this 183 00:10:52,640 --> 00:10:56,760 Speaker 1: new format is known. What I'm wondering though, is is 184 00:10:56,800 --> 00:11:00,920 Speaker 1: it less realistic to expect people to have a Quimby 185 00:11:01,000 --> 00:11:04,280 Speaker 1: app on their phone for this kind of experience as 186 00:11:04,280 --> 00:11:08,520 Speaker 1: opposed to fishing, where the fish are having Quimby live 187 00:11:08,800 --> 00:11:13,120 Speaker 1: on the platforms where consumption is already taking place. Going 188 00:11:13,160 --> 00:11:16,400 Speaker 1: to the Facebook Acto into snap Jacko on the Instagram. 189 00:11:16,600 --> 00:11:20,160 Speaker 1: Why go it alone via your own branded app, because 190 00:11:20,240 --> 00:11:22,320 Speaker 1: we want to. First of all, we think we can 191 00:11:22,440 --> 00:11:25,600 Speaker 1: get the distribution and the go to market through our 192 00:11:25,720 --> 00:11:30,080 Speaker 1: own content. I mean, we are making content with incredible actors, actresses, directors, 193 00:11:30,120 --> 00:11:34,559 Speaker 1: producers and wonderful story Second, we will do distribution with 194 00:11:34,600 --> 00:11:36,720 Speaker 1: some of the big tailcos, whether it's a Verizon or 195 00:11:36,840 --> 00:11:39,360 Speaker 1: an A T and T. But importantly we're going to 196 00:11:39,440 --> 00:11:42,280 Speaker 1: do something quite different with the tech platform here. And 197 00:11:42,360 --> 00:11:43,880 Speaker 1: one of the things Jeffrey and are trying to do 198 00:11:43,960 --> 00:11:45,960 Speaker 1: is to bring the best to Silicon Valley together with 199 00:11:46,000 --> 00:11:48,840 Speaker 1: the best of Hollywood. So Jeffrey said it. But the 200 00:11:49,120 --> 00:11:53,199 Speaker 1: user experience, the search and fine metaphor, the recommendation engine, 201 00:11:53,280 --> 00:11:57,080 Speaker 1: how content looks on mobile needs to be completely upgraded 202 00:11:57,120 --> 00:11:59,960 Speaker 1: and different today. I think you know, listen, lots of 203 00:12:00,000 --> 00:12:01,920 Speaker 1: people watch mobile on their video. In fact, they're watching 204 00:12:01,960 --> 00:12:05,280 Speaker 1: over sixty minutes. Our target audience of five year olds 205 00:12:05,360 --> 00:12:07,760 Speaker 1: is watching about an hour a day. But it's not 206 00:12:08,320 --> 00:12:10,959 Speaker 1: an optimized experience. Here's a great analogy for you. Think 207 00:12:11,000 --> 00:12:13,560 Speaker 1: about what Apple and Samsung have done for photography on 208 00:12:13,600 --> 00:12:16,560 Speaker 1: the mobile phone. It's remarkable. I mean, I take pictures, 209 00:12:16,559 --> 00:12:18,800 Speaker 1: I feel like I'm a junior only any Leibowitz. I mean, 210 00:12:18,840 --> 00:12:22,200 Speaker 1: it's amazing how good those devices have made all of 211 00:12:22,280 --> 00:12:25,560 Speaker 1: us look as photographers, we want to work to have 212 00:12:25,840 --> 00:12:28,760 Speaker 1: video look that good on the mobile, and there's all 213 00:12:28,840 --> 00:12:31,280 Speaker 1: kinds of challenges with that, as you can imagine, right. 214 00:12:31,320 --> 00:12:33,120 Speaker 1: But with the thing that strikes me then is you 215 00:12:33,160 --> 00:12:36,600 Speaker 1: have two massive challenges in the sense of you've got 216 00:12:36,640 --> 00:12:39,719 Speaker 1: to ramp up this new content format format at both 217 00:12:39,840 --> 00:12:45,000 Speaker 1: quantity and quality, and the experience of watching that content 218 00:12:45,679 --> 00:12:49,320 Speaker 1: is something that you just described as being quite a challenge. 219 00:12:49,600 --> 00:12:51,640 Speaker 1: You know, we're here at the Innovade conference, we're talking 220 00:12:51,640 --> 00:12:55,720 Speaker 1: about machine learning, artificial intelligence. Are you bringing those kind 221 00:12:55,800 --> 00:12:59,360 Speaker 1: of technologies to bear here? Sure. So there's a couple 222 00:12:59,400 --> 00:13:01,360 Speaker 1: of things. One is, remember we have to have a 223 00:13:01,400 --> 00:13:04,200 Speaker 1: different search and find metaphor, and we have to have 224 00:13:04,400 --> 00:13:06,719 Speaker 1: different personalization that exists today. I'll just give you a 225 00:13:06,760 --> 00:13:08,760 Speaker 1: perfect example. As many of you know, it takes about 226 00:13:08,840 --> 00:13:11,520 Speaker 1: eight minutes to find what you're looking for on Netflix. 227 00:13:11,880 --> 00:13:14,440 Speaker 1: This cannot take eight minutes because the viewing window is 228 00:13:14,440 --> 00:13:17,040 Speaker 1: ten minutes. So we almost have to know what you 229 00:13:17,080 --> 00:13:19,720 Speaker 1: want to watch before you know you want to watch it. 230 00:13:20,240 --> 00:13:23,160 Speaker 1: And so the good news is every piece of film 231 00:13:23,240 --> 00:13:25,680 Speaker 1: that is on our platform is only there because we 232 00:13:25,760 --> 00:13:28,640 Speaker 1: say it's there. It's highly curated, and everything will have 233 00:13:28,640 --> 00:13:31,120 Speaker 1: a script. So think about we can apply meta tagging 234 00:13:31,320 --> 00:13:36,400 Speaker 1: to every single frame, which allows behavioral analytics and AI 235 00:13:36,440 --> 00:13:39,679 Speaker 1: to be much more accurate and predictive than it is 236 00:13:39,840 --> 00:13:43,440 Speaker 1: if you are retrofitting lots of you know, older movies 237 00:13:43,520 --> 00:13:46,200 Speaker 1: or older TV shows, it's harder to actually meta tag 238 00:13:46,280 --> 00:13:48,160 Speaker 1: to the level that we're going to do it. The 239 00:13:48,200 --> 00:13:50,640 Speaker 1: second is we have to instrument this site. And this 240 00:13:50,679 --> 00:13:52,640 Speaker 1: is one of the great joys of being a technologist. 241 00:13:53,080 --> 00:13:55,720 Speaker 1: I kept to build a tech platform with no legacy, 242 00:13:55,920 --> 00:13:57,800 Speaker 1: which you know, if you've been in business for more 243 00:13:57,800 --> 00:13:59,960 Speaker 1: than five years, you have a legacy tech platform. Maybe 244 00:14:00,000 --> 00:14:02,080 Speaker 1: have a legacy tech platform at variety, I don't know, 245 00:14:03,280 --> 00:14:05,720 Speaker 1: and uh. And so we will be able to instrument 246 00:14:05,760 --> 00:14:09,200 Speaker 1: this where we have data on usage patterns, on watching, 247 00:14:09,280 --> 00:14:11,600 Speaker 1: on what works, what doesn't, and we will be filtering 248 00:14:11,640 --> 00:14:14,720 Speaker 1: that into our recommendation engine, our choice of what content 249 00:14:14,800 --> 00:14:16,640 Speaker 1: to make, and things like that. So this ought to 250 00:14:16,679 --> 00:14:19,520 Speaker 1: be state of the art from an AI, behavioral analytics, 251 00:14:19,680 --> 00:14:22,400 Speaker 1: machine learning. But then let's go back to the art 252 00:14:22,400 --> 00:14:24,320 Speaker 1: of it all. You know, you're both out there and 253 00:14:24,400 --> 00:14:28,760 Speaker 1: the creative community talking to people. Uh do they get it? 254 00:14:28,960 --> 00:14:31,240 Speaker 1: Do they do you give them the vision of how 255 00:14:31,280 --> 00:14:34,200 Speaker 1: ten minutes storytelling works? Or or has there just been 256 00:14:34,200 --> 00:14:38,520 Speaker 1: this long suppressed out there. I've been dying to tell 257 00:14:38,560 --> 00:14:41,720 Speaker 1: this ten minutes story. Um, well again, I'm gonna keep 258 00:14:41,760 --> 00:14:43,640 Speaker 1: coming back and saying to you, we're not asking people 259 00:14:43,680 --> 00:14:47,440 Speaker 1: to tell ten minutes stories. We're actually asking them to 260 00:14:47,480 --> 00:14:51,080 Speaker 1: tell two to four hour stories increments of ten. Okay, Well, 261 00:14:51,720 --> 00:14:54,440 Speaker 1: there's a huge difference in that. Sorry, I and I 262 00:14:54,680 --> 00:14:59,400 Speaker 1: And so the answer is is that the challenge, the excitement, 263 00:14:59,440 --> 00:15:05,240 Speaker 1: the enthusi yasm, the opportunity to be pioneering and innovative 264 00:15:05,960 --> 00:15:09,880 Speaker 1: is something that has gotten people enthusiastic and our industry 265 00:15:10,160 --> 00:15:12,640 Speaker 1: in a way that I have to say, is kind 266 00:15:12,640 --> 00:15:15,440 Speaker 1: of the wind beneath our wings right now. It's everybody 267 00:15:15,520 --> 00:15:18,120 Speaker 1: wants to play. And I would say when I say 268 00:15:18,120 --> 00:15:20,280 Speaker 1: everybody wants to play, I mean you look at the 269 00:15:20,320 --> 00:15:23,720 Speaker 1: lineup of people we've already announced. You know, Anton Fuqua 270 00:15:23,880 --> 00:15:27,040 Speaker 1: was out there actually shooting tests for us right now. Um, 271 00:15:27,200 --> 00:15:31,120 Speaker 1: we have a new project. Katherine Hardwick, Um, you know 272 00:15:31,280 --> 00:15:35,760 Speaker 1: who one of our leading amazing directors female directors today. 273 00:15:35,800 --> 00:15:40,480 Speaker 1: She just committed to do a uh a new project 274 00:15:40,520 --> 00:15:42,480 Speaker 1: with us, UM and I should make sure I say 275 00:15:42,520 --> 00:15:45,200 Speaker 1: it all right here, which is how they made her UM, 276 00:15:45,240 --> 00:15:49,840 Speaker 1: which was written by Jeff Leeber and Charlie McDowell McDonald UM, 277 00:15:49,880 --> 00:15:55,240 Speaker 1: which is a really kind of fascinating story UM around 278 00:15:55,280 --> 00:15:59,640 Speaker 1: a AI character, a real thriller, and she is actually 279 00:15:59,760 --> 00:16:03,160 Speaker 1: out now shooting some tests uh for us as we speak. 280 00:16:03,640 --> 00:16:09,280 Speaker 1: Um uh. But everyone from Anton Fuqua to uh uh, 281 00:16:09,360 --> 00:16:15,880 Speaker 1: Giermo del Toro to um you know uh uh, you know, 282 00:16:15,960 --> 00:16:19,400 Speaker 1: it's just it's been a there's so many names, Sam 283 00:16:19,480 --> 00:16:23,120 Speaker 1: Rainy Uh. It's it's a good way. Lena Waite is 284 00:16:23,160 --> 00:16:26,920 Speaker 1: doing this. Everybody's exciting. And by the way they're all pioneering. 285 00:16:27,000 --> 00:16:31,520 Speaker 1: It's like we're not giving them some tight little box 286 00:16:31,560 --> 00:16:35,200 Speaker 1: and asking them to, you know, to produce. We're actually 287 00:16:35,200 --> 00:16:39,960 Speaker 1: just giving them sort of guardrails and saying experiment, you know, 288 00:16:40,600 --> 00:16:43,240 Speaker 1: discover the path forward for us in it, and some 289 00:16:43,320 --> 00:16:46,360 Speaker 1: insight about how these stories can be shot. So it 290 00:16:46,360 --> 00:16:48,880 Speaker 1: looks better on mobile. So I don't most of you 291 00:16:48,880 --> 00:16:50,840 Speaker 1: probably have watched some things on your mobile and it 292 00:16:50,880 --> 00:16:53,960 Speaker 1: often looks quite dark, doesn't it. Well, that's because the 293 00:16:54,000 --> 00:16:56,320 Speaker 1: actual shows need to be shot with more contrast to 294 00:16:56,440 --> 00:16:59,560 Speaker 1: begin with. Right and then and when you're on mobile, 295 00:16:59,600 --> 00:17:01,480 Speaker 1: you go from this environment which is quite dark, to 296 00:17:01,760 --> 00:17:03,920 Speaker 1: right outside in the lobby to outside on the sidewalk, 297 00:17:04,040 --> 00:17:07,960 Speaker 1: and you're changing light environments and it becomes increasingly more 298 00:17:07,960 --> 00:17:11,359 Speaker 1: difficult or easier to watch the video. So there's visual 299 00:17:11,400 --> 00:17:13,399 Speaker 1: optimization that we need to be able to do. And 300 00:17:13,680 --> 00:17:15,119 Speaker 1: one of the things that we've been able to do. 301 00:17:15,160 --> 00:17:17,040 Speaker 1: We have a test of this is you know when 302 00:17:17,080 --> 00:17:19,399 Speaker 1: you go to if you have Apple phones, you go 303 00:17:19,480 --> 00:17:21,919 Speaker 1: to that brightness slider in the your settings. Well, we 304 00:17:22,000 --> 00:17:24,160 Speaker 1: now have moved that into the app where you can 305 00:17:24,200 --> 00:17:27,320 Speaker 1: just use your fingers to change the brightness while you 306 00:17:27,359 --> 00:17:30,119 Speaker 1: are in app, So as you move from spot to spot, 307 00:17:30,359 --> 00:17:32,879 Speaker 1: you're not exiting the app going to settings, changing it 308 00:17:32,920 --> 00:17:34,679 Speaker 1: and coming back. Which was not a problem that you 309 00:17:34,720 --> 00:17:37,520 Speaker 1: carried your flat screen TV from here to the lobby 310 00:17:37,560 --> 00:17:39,399 Speaker 1: to out on the street. No one had to worry 311 00:17:39,400 --> 00:17:42,760 Speaker 1: about that. We do, you know, and so making that great. 312 00:17:43,240 --> 00:17:46,040 Speaker 1: You know, the other thing that you talked about, uh 313 00:17:46,160 --> 00:17:49,439 Speaker 1: and he is is um you know, why not be 314 00:17:49,560 --> 00:17:52,840 Speaker 1: in the environment, you know, where the fish are, and 315 00:17:52,880 --> 00:17:57,040 Speaker 1: the fact is where the fish are right now today. UM, 316 00:17:57,680 --> 00:18:00,960 Speaker 1: as Meg said, is a phenomenal, phenomen amal environment, but 317 00:18:01,240 --> 00:18:04,720 Speaker 1: it is an ocean. And the fact is is that 318 00:18:05,680 --> 00:18:10,240 Speaker 1: we need to find a place where it's a premium experience. 319 00:18:10,560 --> 00:18:14,480 Speaker 1: And we have seen this occur in other businesses UM 320 00:18:14,560 --> 00:18:18,359 Speaker 1: and other related businesses. Meg made the note, which is HBO. 321 00:18:18,480 --> 00:18:22,080 Speaker 1: When television was at the height of three TV over 322 00:18:22,119 --> 00:18:26,040 Speaker 1: the air at its height, HBO came along and you know, 323 00:18:26,119 --> 00:18:30,520 Speaker 1: launched a premium service, UM Spotify, Spotify and Apple Music. 324 00:18:30,560 --> 00:18:35,000 Speaker 1: Six years ago, all music was available, thirty five million titles. 325 00:18:35,000 --> 00:18:36,600 Speaker 1: All you had to do was type in the title 326 00:18:36,640 --> 00:18:39,360 Speaker 1: and you could have any song that you wanted. Well, 327 00:18:39,400 --> 00:18:44,119 Speaker 1: what did they did? They came along and they created playlists, recommendations, 328 00:18:44,400 --> 00:18:50,240 Speaker 1: a set of features that suddenly made music curation convenient. 329 00:18:50,400 --> 00:18:53,040 Speaker 1: And somebody did the workforce and by the end of 330 00:18:53,040 --> 00:18:57,360 Speaker 1: this month, six years, two hundred million people paying ten 331 00:18:57,400 --> 00:19:00,560 Speaker 1: dollars a month for the exact same music that they 332 00:19:00,560 --> 00:19:04,320 Speaker 1: had before. We need to make information convenient, which is 333 00:19:04,400 --> 00:19:06,400 Speaker 1: a very big part of what we're doing. We talk 334 00:19:06,480 --> 00:19:09,560 Speaker 1: about the lighthouse all the time, but the sort of 335 00:19:09,600 --> 00:19:12,520 Speaker 1: second part of what we're doing is taking what is 336 00:19:12,840 --> 00:19:18,880 Speaker 1: right now ubiquitously available information around video and curating it 337 00:19:18,960 --> 00:19:22,199 Speaker 1: in a quality way and now making that convenient for 338 00:19:22,240 --> 00:19:25,399 Speaker 1: people every day, which is why we are a daily 339 00:19:25,440 --> 00:19:28,800 Speaker 1: We are a Monday through Friday, eight in the morning 340 00:19:28,920 --> 00:19:31,720 Speaker 1: till six o'clock or eight o'clock at night. That's our 341 00:19:31,840 --> 00:19:34,919 Speaker 1: use case. That's not where television. I would ask in 342 00:19:34,960 --> 00:19:39,800 Speaker 1: this room anybody in this room who has watched a 343 00:19:39,880 --> 00:19:43,919 Speaker 1: our episode of television between eight o'clock in the morning 344 00:19:44,000 --> 00:19:46,439 Speaker 1: and six o'clock at night, and you watched it on 345 00:19:46,480 --> 00:19:51,400 Speaker 1: this device, could you please raise your hand now? And 346 00:19:51,400 --> 00:19:55,800 Speaker 1: Andy has one? I found there's one. Okay, well one. 347 00:19:55,840 --> 00:19:59,639 Speaker 1: I'm not sure your boss will be really happy with you. Um, 348 00:19:59,640 --> 00:20:02,600 Speaker 1: but so that but you understand, that's not where we 349 00:20:02,760 --> 00:20:08,359 Speaker 1: watch quality of media today. And because we don't have 350 00:20:08,480 --> 00:20:11,720 Speaker 1: an hour, there's not a single person in this room 351 00:20:11,760 --> 00:20:14,480 Speaker 1: that doesn't have five or seven or ten minutes in 352 00:20:14,520 --> 00:20:18,320 Speaker 1: the course of your day, ten times a day. Particularly 353 00:20:18,320 --> 00:20:21,760 Speaker 1: our target audience five year old target audience is on 354 00:20:21,800 --> 00:20:25,679 Speaker 1: their mobile phone four to five hours a day. Interestingly, 355 00:20:25,720 --> 00:20:27,960 Speaker 1: the average session length is about six and a half 356 00:20:28,000 --> 00:20:30,360 Speaker 1: to seven minutes. So think about how many times they're 357 00:20:30,359 --> 00:20:34,280 Speaker 1: picking up putting down their phone for relatively short bits 358 00:20:34,280 --> 00:20:36,440 Speaker 1: of time. We want to fill some of that time. 359 00:20:37,119 --> 00:20:41,440 Speaker 1: You know, you're getting backing from really the who's who 360 00:20:41,520 --> 00:20:46,480 Speaker 1: of the Hollywood studios, the biggest companies. I'm curious is 361 00:20:46,520 --> 00:20:49,960 Speaker 1: there going to be much coordination with them in terms 362 00:20:49,960 --> 00:20:52,560 Speaker 1: of the kinds of intellectual property that we can see 363 00:20:52,600 --> 00:20:55,200 Speaker 1: show up in Quimby, so that you're able to sort 364 00:20:55,240 --> 00:21:00,840 Speaker 1: of leverage existing intellectual property that is on the NBC's, 365 00:21:01,000 --> 00:21:03,520 Speaker 1: that is on the Disneys, that is on the Foxes. 366 00:21:03,800 --> 00:21:05,960 Speaker 1: Or is this going to be just sort of a 367 00:21:06,040 --> 00:21:12,879 Speaker 1: world of intellectual property unto itself it is what they 368 00:21:12,880 --> 00:21:16,840 Speaker 1: are participating. Well, there are investors, there are partners, the 369 00:21:17,400 --> 00:21:20,240 Speaker 1: as you I mean, just to put this in perspective, 370 00:21:20,320 --> 00:21:22,320 Speaker 1: this is the first time in the history of our 371 00:21:22,440 --> 00:21:27,400 Speaker 1: industry in this town in which everybody and I mean everybody, 372 00:21:27,440 --> 00:21:31,000 Speaker 1: every single media company has come in and been an 373 00:21:31,000 --> 00:21:36,280 Speaker 1: investor um and help start this business up and committed 374 00:21:36,320 --> 00:21:41,800 Speaker 1: to make their talent and their i P available to 375 00:21:42,040 --> 00:21:45,680 Speaker 1: help build out this platform and for them actually get 376 00:21:45,680 --> 00:21:49,000 Speaker 1: paid great value for doing that. It's a two way 377 00:21:49,040 --> 00:21:51,760 Speaker 1: street here in this which is we're not asking for 378 00:21:51,840 --> 00:21:54,240 Speaker 1: charity from anybody. We're not asking for people to work 379 00:21:54,320 --> 00:21:57,399 Speaker 1: for less or non competitive, in fact, just the opposite. 380 00:21:57,400 --> 00:22:00,760 Speaker 1: Our deal is actually one of the most tracted deals 381 00:22:00,800 --> 00:22:04,199 Speaker 1: that anybody could work in in television or film today. 382 00:22:04,440 --> 00:22:10,159 Speaker 1: Describe what makes it attractive. So, um, we pay a 383 00:22:11,000 --> 00:22:16,040 Speaker 1: of the cost of our shows plus a margin, so 384 00:22:16,080 --> 00:22:20,000 Speaker 1: a d and if it's long form, up to six 385 00:22:20,040 --> 00:22:23,040 Speaker 1: million dollars an hour. So that's the top of scripted 386 00:22:23,080 --> 00:22:26,520 Speaker 1: television today. There are literally not ten shows out of 387 00:22:26,560 --> 00:22:29,000 Speaker 1: five hundred and fifty that spend more than six million 388 00:22:29,040 --> 00:22:34,920 Speaker 1: dollars an hour. Um, we have a license where that content, 389 00:22:35,400 --> 00:22:38,879 Speaker 1: for in its short form and it's quick bites, is 390 00:22:38,920 --> 00:22:41,240 Speaker 1: exclusive to us for seven years. At the end of 391 00:22:41,280 --> 00:22:46,760 Speaker 1: seven years, it reverts to the producer. Then you own 392 00:22:46,840 --> 00:22:49,760 Speaker 1: it at the end of seven years. So one, it's 393 00:22:49,760 --> 00:22:52,160 Speaker 1: going back to a model that worked in the sixties 394 00:22:52,200 --> 00:22:56,119 Speaker 1: and seventies and eighties, where producers, production companies and creatives 395 00:22:56,280 --> 00:22:59,119 Speaker 1: owned their content, except we're give delivering it back to 396 00:22:59,200 --> 00:23:03,200 Speaker 1: them you much shorter window. Second is is that after 397 00:23:03,240 --> 00:23:07,440 Speaker 1: two years you can take that content in its quick 398 00:23:07,480 --> 00:23:11,400 Speaker 1: bites and put it together in long form. Long form 399 00:23:11,440 --> 00:23:14,560 Speaker 1: to us is defined by over twenty one minutes, you 400 00:23:14,680 --> 00:23:19,200 Speaker 1: own that and can monetize that after two years. So 401 00:23:19,359 --> 00:23:21,439 Speaker 1: if somebody has made a two or three hour movie 402 00:23:21,920 --> 00:23:24,520 Speaker 1: for us, which we've paid a d and of the 403 00:23:24,560 --> 00:23:27,320 Speaker 1: cost of where you can't take an episode of Game 404 00:23:27,359 --> 00:23:29,760 Speaker 1: of Thrones and cut it up into six ten minute pieces, 405 00:23:30,400 --> 00:23:33,359 Speaker 1: if you actually created it in six ten minute pieces, 406 00:23:33,400 --> 00:23:36,280 Speaker 1: you actually can put it together and it's a seamless 407 00:23:36,359 --> 00:23:39,520 Speaker 1: hour of content. Now after two years, you own that, 408 00:23:39,920 --> 00:23:42,160 Speaker 1: and you can now go sell that in the marketplace, 409 00:23:42,320 --> 00:23:46,040 Speaker 1: and I believe will create one of the most powerful 410 00:23:46,119 --> 00:23:50,840 Speaker 1: syndication markets that we've had since existed in television at 411 00:23:50,840 --> 00:23:54,320 Speaker 1: the height of TV syndication, which was in the eighties 412 00:23:54,320 --> 00:23:58,080 Speaker 1: and nineties. So the value for the studios and the 413 00:23:58,160 --> 00:24:02,399 Speaker 1: creators is signific again. And I get those attractive terms. 414 00:24:02,560 --> 00:24:04,919 Speaker 1: I'm wondering though, whether you guys are setting yourselves up 415 00:24:04,920 --> 00:24:08,840 Speaker 1: for a long term hangover seven years from now when 416 00:24:08,880 --> 00:24:11,600 Speaker 1: a lot of your IP vanishes. We don't think so 417 00:24:11,640 --> 00:24:14,960 Speaker 1: at all. And and and we've made a conscious decision 418 00:24:15,040 --> 00:24:19,160 Speaker 1: here to partner and to make this the most attractive 419 00:24:19,160 --> 00:24:24,000 Speaker 1: place for creators and studios to come work today, so 420 00:24:24,040 --> 00:24:26,480 Speaker 1: that we get the best. You get what you pay 421 00:24:26,560 --> 00:24:30,080 Speaker 1: for in this town and everywhere else in life, and 422 00:24:30,119 --> 00:24:35,240 Speaker 1: we're gonna pay the best talent competitively, if not competitive. Plus, 423 00:24:36,160 --> 00:24:39,440 Speaker 1: our bet what Meg and I are doing our investors 424 00:24:39,600 --> 00:24:42,119 Speaker 1: is we're betting on the success of the platform. We 425 00:24:42,200 --> 00:24:46,399 Speaker 1: are thrilled for the I P holders and creators to 426 00:24:46,520 --> 00:24:49,639 Speaker 1: get full value out of that content. And by the way, 427 00:24:49,880 --> 00:24:54,000 Speaker 1: it worked brilliantly in the sixties and seventies and eighties. 428 00:24:54,040 --> 00:24:57,760 Speaker 1: You look at the alignment between broadcasters, which is before 429 00:24:57,800 --> 00:25:01,400 Speaker 1: financial interest and syndication rules, suns said they weren't allowed 430 00:25:01,440 --> 00:25:03,840 Speaker 1: to have a financial interest in their content. The studios 431 00:25:03,880 --> 00:25:07,760 Speaker 1: never owned their content by regulation, they were prohibited from 432 00:25:07,760 --> 00:25:11,439 Speaker 1: doing that. Right, and yet the studios got rich, the 433 00:25:11,560 --> 00:25:15,480 Speaker 1: creators got rich, and the networks became blockbuster platforms in it. 434 00:25:15,560 --> 00:25:17,520 Speaker 1: And so whether it was Happy Days or Laverne and 435 00:25:17,520 --> 00:25:20,280 Speaker 1: Shirley or A Wife I've Oh or Star Trek are 436 00:25:20,400 --> 00:25:24,000 Speaker 1: on and on and on, you know, Simpsons, hundreds of 437 00:25:24,000 --> 00:25:28,880 Speaker 1: television shows. You know, we're tremendous, tremendous successes. We want 438 00:25:28,880 --> 00:25:31,120 Speaker 1: to return for that and we think it will work, 439 00:25:31,160 --> 00:25:34,320 Speaker 1: and we don't want to compete with our suppliers. And 440 00:25:34,480 --> 00:25:37,120 Speaker 1: I think what Jeffrey said is exactly right. That what 441 00:25:37,160 --> 00:25:39,199 Speaker 1: we want to do is have the best content, the 442 00:25:39,240 --> 00:25:42,320 Speaker 1: best artist, the best creators on the best platform with 443 00:25:42,359 --> 00:25:45,640 Speaker 1: the best user experience and search and fine metaphor, which 444 00:25:45,680 --> 00:25:49,159 Speaker 1: therefore drives more subscribers and advertising, which therefore allows us 445 00:25:49,240 --> 00:25:51,600 Speaker 1: to reinvest back in the core of what will make 446 00:25:51,640 --> 00:25:55,399 Speaker 1: this platform great. And we want the creators to feel 447 00:25:55,400 --> 00:25:57,359 Speaker 1: that this is an incredible deal. Why would they not 448 00:25:57,440 --> 00:25:59,200 Speaker 1: want to do this. Maybe we should be the first 449 00:25:59,240 --> 00:26:03,840 Speaker 1: choice of what they end. Our content, particularly our Lighthouse content, 450 00:26:04,000 --> 00:26:06,400 Speaker 1: is going to get marketed by it because that's our 451 00:26:06,440 --> 00:26:10,760 Speaker 1: subscriber acquisition. So every one of these Lighthouse series, and 452 00:26:10,800 --> 00:26:13,280 Speaker 1: by the way, we were at least one every every 453 00:26:13,320 --> 00:26:17,120 Speaker 1: other Monday, literally every other Monday, twenty six of them 454 00:26:17,160 --> 00:26:19,639 Speaker 1: will be a Lighthouse. Every one of them. We have 455 00:26:19,760 --> 00:26:22,280 Speaker 1: to market the way we would come from a world 456 00:26:22,320 --> 00:26:24,840 Speaker 1: where we market the release of a movie, because we 457 00:26:24,880 --> 00:26:27,960 Speaker 1: have to make it that compelling. I grew up in 458 00:26:28,000 --> 00:26:31,080 Speaker 1: an industry where there are two things that move the dial, 459 00:26:31,880 --> 00:26:35,879 Speaker 1: fame and fortune. And here's the deal. If you have 460 00:26:35,960 --> 00:26:39,000 Speaker 1: fame and you don't have fortune, you're not so happy. 461 00:26:40,359 --> 00:26:42,760 Speaker 1: And the reverse is true, you got fortune and you 462 00:26:42,800 --> 00:26:45,480 Speaker 1: don't have fame, you're not so happy. Quimby is going 463 00:26:45,520 --> 00:26:48,520 Speaker 1: to deliver both fame and fortune to people that come 464 00:26:48,600 --> 00:26:51,440 Speaker 1: partner and work for us. Meg, you didn't a really 465 00:26:51,440 --> 00:26:55,440 Speaker 1: great tech platform. You the best. You did not grow 466 00:26:55,520 --> 00:26:57,720 Speaker 1: up in this industry. You grew up in the industry 467 00:26:57,720 --> 00:27:00,439 Speaker 1: of building tech platforms. What has it been like dealing 468 00:27:00,640 --> 00:27:05,120 Speaker 1: with content and art and things that aren't so easily controlled? 469 00:27:05,280 --> 00:27:10,919 Speaker 1: But we think engineers are artists as well. I couldn't 470 00:27:10,960 --> 00:27:15,160 Speaker 1: agree more. What is it? But um, so listen there, Um, 471 00:27:15,200 --> 00:27:19,200 Speaker 1: there are an enormous differences between Silicon Valley and Hollywood. Um. 472 00:27:19,240 --> 00:27:21,240 Speaker 1: I lived here before. I worked for Disney for four years, 473 00:27:21,240 --> 00:27:22,720 Speaker 1: so I've lived in l A before. We have a 474 00:27:22,800 --> 00:27:25,720 Speaker 1: number of friends here. Um, but it's an entirely different 475 00:27:25,840 --> 00:27:28,040 Speaker 1: um community. And I'll just give you my sort of 476 00:27:28,040 --> 00:27:31,359 Speaker 1: executive summary of this. In many ways is Silicon Valley 477 00:27:31,560 --> 00:27:37,040 Speaker 1: is a community of left brain engineers who are highly linear, logical, 478 00:27:38,200 --> 00:27:42,000 Speaker 1: data driven people. And this town, largely in the creative community, 479 00:27:42,040 --> 00:27:45,200 Speaker 1: is right brain storytellers, and um, in some ways embodied 480 00:27:45,200 --> 00:27:47,800 Speaker 1: in Jeffrey and I and uh and so you know, 481 00:27:48,080 --> 00:27:50,800 Speaker 1: merging those two is not for the faint of heart. 482 00:27:51,200 --> 00:27:53,680 Speaker 1: And my view is that actually, the two of us 483 00:27:53,720 --> 00:27:57,280 Speaker 1: have got to do something that I never been done before, 484 00:27:57,359 --> 00:27:59,000 Speaker 1: which is, you know, how do you have the most 485 00:27:59,040 --> 00:28:02,399 Speaker 1: incredible users variance with the most amazing content in a 486 00:28:02,440 --> 00:28:04,760 Speaker 1: way that the engineers and the creators don't kill each other? 487 00:28:05,240 --> 00:28:07,400 Speaker 1: And uh and so far, and we're the first test 488 00:28:07,440 --> 00:28:09,159 Speaker 1: case of that, which is we've been in business for 489 00:28:09,160 --> 00:28:13,680 Speaker 1: a year. We are complete opposites in every fashion japer. 490 00:28:13,760 --> 00:28:16,040 Speaker 1: We laugh about it all the time in it, right 491 00:28:16,280 --> 00:28:18,639 Speaker 1: we when we're a year, we haven't killed each other yet. 492 00:28:18,800 --> 00:28:24,440 Speaker 1: So and you know the power of opposites it's if 493 00:28:24,520 --> 00:28:27,600 Speaker 1: actually if they attract, it's you get one plus one 494 00:28:27,640 --> 00:28:32,080 Speaker 1: equals eleven. And that's what's happened for us because I 495 00:28:32,160 --> 00:28:34,320 Speaker 1: know what I know, and I know she knows what 496 00:28:34,400 --> 00:28:36,960 Speaker 1: I don't know, and vice versa. I mean, we could 497 00:28:37,000 --> 00:28:39,840 Speaker 1: not do this without Jeffrey, right. So, but it's been 498 00:28:39,880 --> 00:28:43,000 Speaker 1: fascinating because I really am I'm not an engineer by training, 499 00:28:43,040 --> 00:28:44,800 Speaker 1: but I've been in technology for so long I think 500 00:28:44,840 --> 00:28:47,000 Speaker 1: like an engineer. I'm highly left brain, highly analytical, and 501 00:28:47,080 --> 00:28:49,640 Speaker 1: Jeffrey is a right brain storyteller. And so often when 502 00:28:49,640 --> 00:28:52,080 Speaker 1: we're you know, arguing or deciding what we're gonna do. 503 00:28:52,400 --> 00:28:54,800 Speaker 1: You know, we come at things from completely different places, 504 00:28:55,080 --> 00:28:58,239 Speaker 1: and when we are at our best, increasingly they one 505 00:28:58,280 --> 00:29:01,080 Speaker 1: plus one equals you know, ten, and it's it's quite powerful. 506 00:29:02,120 --> 00:29:05,880 Speaker 1: Discounted me. Well, that's that's that's kind of that's a 507 00:29:05,960 --> 00:29:10,200 Speaker 1: left range. She discounts every it's a reality chick. I'm 508 00:29:10,240 --> 00:29:12,120 Speaker 1: sort of the warrior and I'm the you know, I 509 00:29:12,120 --> 00:29:14,840 Speaker 1: don't know, let's think about that. So there's there, there's 510 00:29:14,920 --> 00:29:17,440 Speaker 1: there's the dreamer and the warrior, and that's a different 511 00:29:17,600 --> 00:29:21,120 Speaker 1: yin yang altogether, and the and the analyst and you know, 512 00:29:21,760 --> 00:29:23,960 Speaker 1: but it's it's actually a very powerful partnership and quite 513 00:29:23,960 --> 00:29:25,120 Speaker 1: a bit of fun. I mean, Jeffrey and I've known 514 00:29:25,160 --> 00:29:27,640 Speaker 1: each other for thirty years and we worked together at Disney. 515 00:29:27,680 --> 00:29:29,480 Speaker 1: I was on his board at DreamWorks when he took 516 00:29:29,560 --> 00:29:33,120 Speaker 1: DW a public and uh then HP, where I was 517 00:29:33,320 --> 00:29:36,440 Speaker 1: most recently, had a long term technology deal. Our technology 518 00:29:36,440 --> 00:29:39,080 Speaker 1: powered the Dreamwork studio. So we've known each other a 519 00:29:39,120 --> 00:29:40,920 Speaker 1: long time, but you know, we had to sort of 520 00:29:40,960 --> 00:29:43,240 Speaker 1: work it out because like day to day, you know, 521 00:29:43,600 --> 00:29:45,520 Speaker 1: it's I mean I talked to Jeffrey eight times a day, 522 00:29:45,680 --> 00:29:48,239 Speaker 1: so and I will remind you and again we are. 523 00:29:48,360 --> 00:29:51,320 Speaker 1: Partnership that we had at HP is emblematic of this. 524 00:29:51,560 --> 00:29:56,520 Speaker 1: DreamWorks Animation was a technology and storytelling company. You know, 525 00:29:56,640 --> 00:29:58,880 Speaker 1: we were in the state of the art creation of 526 00:29:58,960 --> 00:30:02,840 Speaker 1: digital imaging UM and we couldn't do what we did 527 00:30:03,080 --> 00:30:06,040 Speaker 1: without actually having the support in this case of HP 528 00:30:06,160 --> 00:30:09,000 Speaker 1: and a couple of other technology partners. And that's what 529 00:30:09,320 --> 00:30:13,040 Speaker 1: took me to Silicon Valley. And you know, DreamWorks Animation 530 00:30:13,080 --> 00:30:16,080 Speaker 1: had a studio, you know, down the street from Meg 531 00:30:16,160 --> 00:30:19,680 Speaker 1: with eight people at it, and we called our engineers 532 00:30:19,760 --> 00:30:23,960 Speaker 1: artists that DreamWorks always did well. I hope the two 533 00:30:24,000 --> 00:30:27,560 Speaker 1: of you going to keep this as much as we do, 534 00:30:29,560 --> 00:30:32,880 Speaker 1: keep this going. Best of luck and keep us posted 535 00:30:32,960 --> 00:30:35,280 Speaker 1: on all things Quimby, Well, thank you very much for 536 00:30:35,280 --> 00:30:39,840 Speaker 1: having us. Thank you. This has been another episode of 537 00:30:39,920 --> 00:30:42,840 Speaker 1: Strictly Business. Tune in next week for another helping of 538 00:30:42,960 --> 00:30:46,840 Speaker 1: scintillating conversation with media movers and shakers, and please make 539 00:30:46,880 --> 00:30:50,560 Speaker 1: sure you subscribe to the podcast to hear future episodes. 540 00:30:50,880 --> 00:30:53,719 Speaker 1: Also leave a review in Apple Podcast let us know 541 00:30:53,720 --> 00:30:54,320 Speaker 1: how we're doing.