WEBVTT - Cliff Notes: Joe Budden "There's Too Many People Making Podcasts!"

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<v Speaker 1>An illegal alien from Guatemala charged with raping a child

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<v Speaker 1>in Massachusetts. An MS thirteen gang member from Al Salvador

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<v Speaker 1>accused of murdering a Texas man of Venezuelan charged with

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<v Speaker 1>filming and selling child pornography in Michigan. These are just

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<v Speaker 1>some of the heinous migrant criminals caught because of President

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<v Speaker 1>Donald J. Trump's leadership. I'm Christy nom the United States

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<v Speaker 1>Secretary of Homeland Security. Under President Trump, attempted illegal border

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<v Speaker 1>crossings are at the lowest levels ever recorded, and over

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<v Speaker 1>one hundred thousand illegal aliens have been arrested. If you

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<v Speaker 1>are here illegally, your next you will be fined nearly

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<v Speaker 1>one thousand dollars a day, imprisoned, and deported. You will

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<v Speaker 1>never return. But if you register using our CBP home

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<v Speaker 1>app and leave now, you could be allowed to return legally.

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<v Speaker 1>Do what's right. Leave now. Under President Trump, America's laws,

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<v Speaker 1>border and families will be protected.

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<v Speaker 2>Sponsored by the United States Department of Homeland Security.

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<v Speaker 3>What's the blueprint to make money in a podcast? Let's

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<v Speaker 3>get to this. We can say our blueprint if you're interested, But.

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<v Speaker 4>What's your blueprint?

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<v Speaker 3>All right?

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<v Speaker 5>So, niggas, I look here, I look at podcasting as

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<v Speaker 5>like a bully pulpit to build your your reputation, to

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<v Speaker 5>build you your name, to build trust. So you it's

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<v Speaker 5>the easy ways to make money of course is on

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<v Speaker 5>the audio side, Apple and Spotify from audio ads, and

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<v Speaker 5>then you know YouTube, you get paid from assence.

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<v Speaker 3>That's you know, it's kind of like low hanging fruit.

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<v Speaker 5>But then from there, for us, the live event space

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<v Speaker 5>has become pretty big for us.

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<v Speaker 4>No, that's you all, that's all bad right there?

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<v Speaker 6>Well, yeah, you mentioned fourteen times accounts with that, Come on,

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<v Speaker 6>come on, we appreciate that the live event space has

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<v Speaker 6>been very good for us.

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<v Speaker 5>You know, this talk of a paywall, I want to

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<v Speaker 5>talk to you about Patreon, A lot of creators are trying.

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<v Speaker 4>To pick.

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<v Speaker 5>Up because a lot a lot of creators are trying

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<v Speaker 5>to figure out how to separate content that's free and

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<v Speaker 5>content that's paid for. So like the Patreons, good luck.

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<v Speaker 5>But it depends on what space is. So it's like

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<v Speaker 5>for us, we're in an education space.

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<v Speaker 4>So don't pitch me to death right now.

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<v Speaker 3>No, you asked me education.

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<v Speaker 7>Ask me down your fucking pr little tablet. In the

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<v Speaker 7>education space and the life touring space w w me,

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<v Speaker 7>I know what your niggas is out of here.

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<v Speaker 3>So that's that's another revenue model.

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<v Speaker 5>Right. Then you can through merch you can do collaborations,

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<v Speaker 5>different so it's a variety of different things.

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<v Speaker 3>What's your revenue model?

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<v Speaker 4>Wait? One last thing?

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<v Speaker 6>One last part of the revenue model is that we

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<v Speaker 6>bring people on who have information about industries, and so

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<v Speaker 6>based on the information, we could look at it and

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<v Speaker 6>say that's a viable business.

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<v Speaker 4>We should do that business. In fact, you should help

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<v Speaker 4>us do this business. Shark tank. Pretty much it becomes

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<v Speaker 4>that that's that's a good way to do it, though

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<v Speaker 4>it's another way like that. All right, what do you

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<v Speaker 4>want to know from me?

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<v Speaker 5>What's the revenue? What's the revenue model for podcasting? One

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<v Speaker 5>on one, Professor Joe Biden is teaching.

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<v Speaker 4>Well, we also are in the educational We like to.

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<v Speaker 3>Do university your semester?

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<v Speaker 4>Can you do it? In that voice?

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<v Speaker 6>This is because you got like we always talk about

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<v Speaker 6>this like yo, Joe has probably degree not because.

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<v Speaker 3>This is what the people want to know. This is

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<v Speaker 3>what they want to know.

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<v Speaker 5>And a lot of people have not figured out how

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<v Speaker 5>to make money from podcasting. Most people, most people have

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<v Speaker 5>not figured it out.

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<v Speaker 4>We said, what.

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<v Speaker 3>Do we say about good?

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<v Speaker 4>Crazy?

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<v Speaker 3>We're talking about why is that good?

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<v Speaker 6>Oh?

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<v Speaker 4>Please?

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<v Speaker 3>Why the good?

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<v Speaker 4>Why is it not?

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<v Speaker 5>Because it's an industry where people are getting involved in while.

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<v Speaker 3>You know, you just said Dad showed you the blueprint?

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<v Speaker 7>How he showed it? You just said an action. Huh,

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<v Speaker 7>he showed it exactly. And if you missed that, then

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<v Speaker 7>you missed it. So so what I'm saying. What I'm

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<v Speaker 7>saying is this, I've always felt like there needs to

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<v Speaker 7>be like a hip hop sat test that you take

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<v Speaker 7>before you could get a record deal. Yop, some of

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<v Speaker 7>you niggas got to answer some questions like how do

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<v Speaker 7>you hold a microphone?

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<v Speaker 4>Because some of the beer basics. You gotta know. If

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<v Speaker 4>everybody just know everything with no no.

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<v Speaker 7>Consequence, no trials and trial and error, like, then everybody's

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<v Speaker 7>just doing the same shit. No, and then you money

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<v Speaker 7>in the water. No, because that's what happened. All of

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<v Speaker 7>these all of these fucking roaches got involved.

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<v Speaker 4>Edit my roaches.

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<v Speaker 7>All of these fucking insects came in here right said

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<v Speaker 7>yes to everything, said yes to everything. They said yes

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<v Speaker 7>to everything that was put in front of their face.

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<v Speaker 4>Shorts, You niggas.

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<v Speaker 7>Sold y'all asked for chocolate chip cookies. That's what y'all did. Yes,

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<v Speaker 7>So then the companies put their pants on and they

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<v Speaker 7>put they add their teflon best on and now it's

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<v Speaker 7>a cap on it.

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<v Speaker 4>Yeah. And now because it's a.

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<v Speaker 7>Cap on it, Rashad got to sity in and say,

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<v Speaker 7>how's everybody making money?

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<v Speaker 4>No, everybody ain't.

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<v Speaker 7>Only the niggas that figured out and had some balls

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<v Speaker 7>and moved with a certain machies mode figured that out.

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<v Speaker 7>So if you niggas got talking out, Oh no, would

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<v Speaker 7>you better go on a date with jay Z?

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<v Speaker 4>Which one you No, I'm not sharing none with him?

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<v Speaker 4>Get the fuck out the studios. Get out of the

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<v Speaker 4>studio right now, I'm making the song. I'm making art.

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<v Speaker 7>You microwave manufacturers have come here, and now I got

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<v Speaker 7>to have tough conversations with the companies.

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<v Speaker 4>So they feel like, oh, we got dining you know

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<v Speaker 4>the fuck? You don't you got that?

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<v Speaker 6>We gave twenty people that deals while we giving you

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<v Speaker 6>got that. But let's talk about that then, because and

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<v Speaker 6>if there.

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<v Speaker 4>Was some unity involved, then you.

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<v Speaker 7>Might be able to come to the gun through unity.

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<v Speaker 7>I want to come to the gunfighter.

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<v Speaker 6>That's exactly why I wanted to go with you, because,

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<v Speaker 6>like what you say is absolutely correct. Like we talked

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<v Speaker 6>to people in the space, and you know a lot

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<v Speaker 6>of times people don't share their deals, but some people

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<v Speaker 6>have what us They looking like it's like, oh, you

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<v Speaker 6>guys are the finance guys, what.

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<v Speaker 4>Do you think of this deal?

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<v Speaker 6>We're looking at it like that's what you really do,

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<v Speaker 6>Like did you know? Did you know the business bond this?

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<v Speaker 6>And I feel like nobody shares the information, which leads

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<v Speaker 6>to people taking the bad deals, which now when it's

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<v Speaker 6>time for some of the people who have really figured

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<v Speaker 6>it out. What you're talking about that cap, Yeah, that

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<v Speaker 6>twenty million or thirty million dollar offer that could have

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<v Speaker 6>been there. When one hundred shows take the one hundred

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<v Speaker 6>and twenty five thousand, it brings it the value down

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<v Speaker 6>of the space.

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<v Speaker 4>You're right in what you're saying.

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<v Speaker 7>This is how I know another side exists because I

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<v Speaker 7>have looked too many of these people, ladies and gentlemen,

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<v Speaker 7>in the face, in the eyes and said that's a mess.

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<v Speaker 4>That's a mess deals that I had no horse in

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<v Speaker 4>the race. I'm telling you this.

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<v Speaker 6>This episode is brought to you by P and C

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<v Speaker 1>An illegal alien from Guatemala charged with raping a child

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<v Speaker 1>in Massachusetts. An MS thirteen gang member from El Salvador

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<v Speaker 1>accused of murdering a Texas man of Venezuelan charged with

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<v Speaker 1>filming and selling child pornography in Michigan. These are just

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<v Speaker 1>some of the heinous migrant criminals caught because of President

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<v Speaker 1>Donald J. Trump's leadership. I'm Christine Noman, the United States

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<v Speaker 1>Secretary of Homeland Security. Under President Trump, attempted illegal border

0:09:04.120 --> 0:09:07.680
<v Speaker 1>crossings are at the lowest levels ever recorded, and over

0:09:07.760 --> 0:09:10.960
<v Speaker 1>one hundred thousand illegal aliens have been arrested if you

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<v Speaker 1>are here illegally, your next you will be fine nearly

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<v Speaker 1>one thousand dollars a day, imprisoned and deported, you will

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<v Speaker 1>never return. But if you register using our CBP home

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<v Speaker 1>app and leave now, you could be allowed to return legally.

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<v Speaker 1>Do what's right, leave now. Under President Trump America's laws,

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<v Speaker 1>border and families will.

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<v Speaker 2>Be protected sponsored by the United States Department of Homeland Security.

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<v Speaker 7>Because that is a mess. Take it to your trusted

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<v Speaker 7>people and do something different, and they take it every time.

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<v Speaker 7>They's not it anyway, they take it every time.

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<v Speaker 5>Because I have spoke every time, I spoke to Matt

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<v Speaker 5>Barnes about this, and I'm like, there needs to be

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<v Speaker 5>some level of a summit coalition amongst podcasts. It's not

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<v Speaker 5>every podcast well you know top podcast is in a

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<v Speaker 5>space sure to understand.

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<v Speaker 3>Okay, what are they offering you? What is this?

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<v Speaker 5>What is because it's like there's not a level of

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<v Speaker 5>shared information, Like Troy says, it's like the NBA, right,

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<v Speaker 5>you know, Steph Curry signed for thirty million dollars a year,

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<v Speaker 5>So now if you're lebron you can kind of base

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<v Speaker 5>it off of this is makes sense. This doesn't make sense, right,

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<v Speaker 5>But nobody knows anything. And a lot of these guys

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<v Speaker 5>are my friends, and I ask them questions and they

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<v Speaker 5>don't fully give me an answer. Either they just don't

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<v Speaker 5>want to tell me, or they don't actually know themselves.

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<v Speaker 5>They're not fully educated enough themselves to actually articulate it.

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<v Speaker 5>Either way, it's not beneficial to the space. And it's like,

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<v Speaker 5>now you just got a bunch of people, just like

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<v Speaker 5>in the wilderness, not knowing how much they should charge

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<v Speaker 5>for AD, not knowing what industries. There is no industry

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<v Speaker 5>standard because we don't know what the industry is doing.

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<v Speaker 5>Like you know what I'm saying, So do you think

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<v Speaker 5>that that could be beneficial as far as.

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<v Speaker 7>Would be beneficial? But I mean, you're right, I learned

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<v Speaker 7>that people don't. Most people ain't coming back to share

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<v Speaker 7>the information. The people that's up up, they just give it.

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<v Speaker 7>They just willingly give the information. But when it's that fight,

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<v Speaker 7>when it's that fight to get there, niggas ain't sharing shit.

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<v Speaker 7>It's a lot of ego and pride involved. I ran

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<v Speaker 7>around for three years saying, hey, I think my deal's up.

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<v Speaker 7>When your deals up. I think your deals up. When

0:11:13.640 --> 0:11:15.560
<v Speaker 7>your deals up, I think we should all talk just

0:11:15.600 --> 0:11:17.480
<v Speaker 7>so we are aware. It's three different I did that

0:11:18.120 --> 0:11:19.559
<v Speaker 7>end up being what all the niggas I did it with?

0:11:20.720 --> 0:11:23.400
<v Speaker 4>We end up with every single person that I did

0:11:23.400 --> 0:11:26.200
<v Speaker 4>that with, save exact thing. But we haven't beached with them.

0:11:26.320 --> 0:11:28.120
<v Speaker 6>But they're looking at us like, wow, you guys are

0:11:28.120 --> 0:11:32.640
<v Speaker 6>sharing all this information Like wait, I'm glad I know

0:11:32.760 --> 0:11:33.240
<v Speaker 6>this now.

0:11:33.360 --> 0:11:34.760
<v Speaker 4>I'm like, did you sign this yet?

0:11:35.000 --> 0:11:37.760
<v Speaker 6>Like we're about to we're about to renegotiate, but again,

0:11:38.240 --> 0:11:40.240
<v Speaker 6>we just don't know, right.

0:11:40.120 --> 0:11:42.600
<v Speaker 4>Like I can't I can't help if I don't know.

0:11:42.880 --> 0:11:44.280
<v Speaker 6>And then when, like you said, when we go to

0:11:44.280 --> 0:11:48.200
<v Speaker 6>the negotiating table, the company knows because they're looking at

0:11:48.240 --> 0:11:50.880
<v Speaker 6>the deal. It's like, okay, well if we give them this,

0:11:51.000 --> 0:11:54.040
<v Speaker 6>then everybody else is worth this. And it's only a

0:11:54.080 --> 0:11:56.560
<v Speaker 6>few Like how many how many profitable shows you think

0:11:56.600 --> 0:11:57.400
<v Speaker 6>there are in the space?

0:11:57.600 --> 0:12:03.319
<v Speaker 4>And which space? Five? Five or less? Five?

0:12:03.480 --> 0:12:07.920
<v Speaker 5>That's less less? That's crazy. That's when you say profitable, what.

0:12:07.920 --> 0:12:10.679
<v Speaker 4>Do you mean think that they make money off amount

0:12:10.679 --> 0:12:11.000
<v Speaker 4>of money?

0:12:11.040 --> 0:12:12.679
<v Speaker 6>Like a dollar a million dollar, Like that's that's a

0:12:12.720 --> 0:12:16.360
<v Speaker 6>relative million. Let's say let's put budget them in the

0:12:16.520 --> 0:12:19.520
<v Speaker 6>out there. Let's put a million as a threshold. Yeah,

0:12:20.080 --> 0:12:24.920
<v Speaker 6>net yes, you think show you five?

0:12:25.240 --> 0:12:25.520
<v Speaker 4>Wow?

0:12:26.679 --> 0:12:30.520
<v Speaker 7>Yeah, okay, I mean when you say in the space,

0:12:30.600 --> 0:12:34.760
<v Speaker 7>I'm excluding the television shows that have made themselves podcasts. Yeah,

0:12:35.080 --> 0:12:37.240
<v Speaker 7>not on the news shows that have made themselves part

0:12:37.920 --> 0:12:39.800
<v Speaker 7>the true tradition shows.

0:12:40.400 --> 0:12:43.880
<v Speaker 4>It's none a lot. No. Wow. I don't know if

0:12:43.840 --> 0:12:45.760
<v Speaker 4>i'd say five, but I don't know that I can

0:12:45.760 --> 0:12:46.120
<v Speaker 4>get the ten.

0:12:47.720 --> 0:12:49.280
<v Speaker 5>Well, this is why, and this is why, Like I

0:12:49.320 --> 0:12:51.720
<v Speaker 5>have no problem sharing the blueprints, like here lay it

0:12:51.720 --> 0:12:53.959
<v Speaker 5>out for you, because the odds are already stacked against

0:12:53.960 --> 0:12:57.280
<v Speaker 5>you anyway, right, so if there's some level of help

0:12:57.360 --> 0:12:58.520
<v Speaker 5>that can be provided.

0:12:58.840 --> 0:13:03.520
<v Speaker 7>But look at this, right, some of these people start

0:13:03.520 --> 0:13:06.840
<v Speaker 7>their pod, they see the Google AdSense thing and they're thrilled.

0:13:07.320 --> 0:13:11.280
<v Speaker 7>So they just look to double and triple down in that,

0:13:12.120 --> 0:13:14.720
<v Speaker 7>and they focus so much on that that they're content.

0:13:15.920 --> 0:13:18.480
<v Speaker 4>It's more money. We haven't made even the ads.

0:13:18.840 --> 0:13:21.040
<v Speaker 7>Hey, I'm getting a thousand dollars ad let's say fifty

0:13:21.120 --> 0:13:23.960
<v Speaker 7>nine doing two of these a pod. I'm just gonna

0:13:24.000 --> 0:13:28.200
<v Speaker 7>take my calculator and oh shit, I can make ten

0:13:28.280 --> 0:13:31.040
<v Speaker 7>grand a week or whatever if I'm not doing it.

0:13:31.040 --> 0:13:32.840
<v Speaker 4>But some people happy in that.

0:13:33.760 --> 0:13:37.040
<v Speaker 7>Some people always look to the future and just want

0:13:37.040 --> 0:13:41.560
<v Speaker 7>it differently and want more. Right, So I can't speak

0:13:41.600 --> 0:13:44.120
<v Speaker 7>to that person that is only doing it this way.

0:13:44.120 --> 0:13:45.280
<v Speaker 4>I mean you named a bunch of right.

0:13:45.679 --> 0:13:49.640
<v Speaker 7>There is what let's let's go through. It's merchandising. There's

0:13:50.760 --> 0:13:55.559
<v Speaker 7>live touring. There's live touring slash speaking engagements. Those can

0:13:55.600 --> 0:13:59.400
<v Speaker 7>be two different things. There's advertisements slash.

0:14:01.160 --> 0:14:01.360
<v Speaker 4>Right.

0:14:02.040 --> 0:14:09.160
<v Speaker 7>There's paywall slash there's pay per view somewhere. What else

0:14:09.240 --> 0:14:12.240
<v Speaker 7>is there? What else is there? Yeah, all of them

0:14:12.280 --> 0:14:13.760
<v Speaker 7>is there. Now, all of them is doing that. So

0:14:13.840 --> 0:14:15.880
<v Speaker 7>you should be set up on all of these places

0:14:15.880 --> 0:14:20.200
<v Speaker 7>because they all pay out now to fucking TikTok, snapchats, Instagram, Facebook,

0:14:20.240 --> 0:14:20.800
<v Speaker 7>all that shit.

0:14:23.480 --> 0:14:23.720
<v Speaker 4>See.

0:14:23.840 --> 0:14:25.520
<v Speaker 7>So now there's a bunch of people that's gonna hear

0:14:25.560 --> 0:14:28.000
<v Speaker 7>those things. And it's some more I'm leaving out, but

0:14:28.000 --> 0:14:29.680
<v Speaker 7>there's a bunch of people that's gonna hear those things.

0:14:30.560 --> 0:14:33.920
<v Speaker 7>And now say, how do I fill those buckets? The

0:14:33.920 --> 0:14:35.840
<v Speaker 7>same way I did with my accountant said that you

0:14:35.880 --> 0:14:37.840
<v Speaker 7>need seven eight streams or whatever to be a millionaire.

0:14:37.840 --> 0:14:40.440
<v Speaker 7>It's like, oh, I get there, I got one nigga.

0:14:41.240 --> 0:14:43.360
<v Speaker 7>A bunch of people gonna try to fill those buckets.

0:14:43.680 --> 0:14:46.400
<v Speaker 7>It's somebody else's job to go create more.

0:14:48.320 --> 0:14:49.280
<v Speaker 3>Yeah, I e.

0:14:49.760 --> 0:14:56.240
<v Speaker 7>Combat Jack Joe Budden, y'all. Somebody has to go add

0:14:56.280 --> 0:15:01.880
<v Speaker 7>more buckets. So that's really there to this. The traditional

0:15:01.880 --> 0:15:04.080
<v Speaker 7>ways to get paid is all right there. Everybody's value

0:15:04.120 --> 0:15:05.680
<v Speaker 7>is going to be different because anybody NUM's different.

0:15:05.680 --> 0:15:09.360
<v Speaker 4>We all do different things. But who's going to add to.

0:15:09.280 --> 0:15:12.320
<v Speaker 7>The pot instead of just getting robbed or fucking the ass?

0:15:20.320 --> 0:15:23.920
<v Speaker 1>An illegal alien from Guatemala charged with raping a child

0:15:24.000 --> 0:15:27.800
<v Speaker 1>in Massachusetts. An MS thirteen gang member from Al Salvador

0:15:28.040 --> 0:15:32.160
<v Speaker 1>accused of murdering a Texas. Man of Venezuelan charged with

0:15:32.240 --> 0:15:36.160
<v Speaker 1>filming and selling child pornography in Michigan. These are just

0:15:36.240 --> 0:15:40.000
<v Speaker 1>some of the heinous migrant criminals caught because of President

0:15:40.040 --> 0:15:43.640
<v Speaker 1>Donald J. Trump's leadership. I'm Christy Noman, the United States

0:15:43.640 --> 0:15:48.440
<v Speaker 1>Secretary of Homeland Security. Under President Trump, attempted illegal border

0:15:48.480 --> 0:15:52.000
<v Speaker 1>crossings are at the lowest levels ever recorded, and over

0:15:52.080 --> 0:15:55.280
<v Speaker 1>one hundred thousand illegal aliens have been arrested. If you

0:15:55.360 --> 0:15:59.200
<v Speaker 1>are here illegally, your next you will be fine nearly

0:15:59.280 --> 0:16:04.120
<v Speaker 1>one thousand a day, imprisoned and deported, you will never return.

0:16:04.440 --> 0:16:07.440
<v Speaker 1>But if you register using our CBP home app and

0:16:07.560 --> 0:16:10.880
<v Speaker 1>leave now, you could be allowed to return legally, do

0:16:11.000 --> 0:16:16.120
<v Speaker 1>what's right. Leave now. Under President Trump, America's laws, border

0:16:16.320 --> 0:16:18.160
<v Speaker 1>and families will be protected.

0:16:18.240 --> 0:16:20.400
<v Speaker 2>Sponsored by the United States Department of Homeland Security,