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Speaker 1: This episode is brought to you by P and C Bank.

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Speaker 1: A lot of people think podcasts about work are boring,

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Speaker 1: and sure they definitely can be, but understanding of professionals

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Speaker 1: routine shows us how they achieve their success little by little,

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Speaker 1: day after day. It's like banking with P and C Bank.

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Speaker 1: It might seem boring the safe plan and make calculated

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Speaker 1: decisions with your bank, but keeping your money boring is

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Speaker 1: what helps you live a more happily fulfilled life. P

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Speaker 1: and C Bank Brilliantly Boring since eighteen sixty five. Brilliantly

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Speaker 1: Boring since eighteen sixty five is a service mark of

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Speaker 1: the PNC Financial Service Group, Inc. P and C Bank

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Speaker 1: National Association Member FDIC. As with you all, I was

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Speaker 1: telling you probably the most impactful interview I've done in

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Speaker 1: my career.

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Speaker 2: How he rolls out as real He.

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Speaker 3: Wrote, Troy, talk about the tags lest about finance.

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Speaker 2: When we talk in a language that is common.

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Speaker 1: To the people, that's from the feeings that we grew

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Speaker 1: up on.

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Speaker 4: You are the bright spot, thank jewership for Black Americans.

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Speaker 2: This is the knowledge that actually matters.

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Speaker 3: I plaug both of you for this. Thank you.

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Speaker 1: Isn't it a country issue? It's not an American issue, it's

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Speaker 1: a world issue.

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Speaker 4: You came to earn Lisa, all right, gush, welcome back.

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Speaker 3: Yeah, ey l we got a special episode. This is

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Speaker 3: something I've been looking forward to. Actually. You know, US

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Speaker 3: obviously is a business platform, and we always talk about

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Speaker 3: things that may not be well explained. You know, a

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Speaker 3: lot of things are kind of surface level when it

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Speaker 3: comes to business, especially on social media, but you got

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Speaker 3: to have a deep dive, and the only way to

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Speaker 3: do that is to actually talk to people that really

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Speaker 3: know what they're talking about.

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Speaker 1: The people that really really do it. I think one

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Speaker 1: of the things early on was like we get to

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Speaker 1: talk to the people who do a lot of the

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Speaker 1: behind the scenes things that people don't realize that a

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Speaker 1: lot of people are benefiting from.

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Speaker 2: And today is no different. Today is no different.

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Speaker 3: Ian Schwartzman, if you're a fan of the Joe Butten podcast,

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Speaker 3: which obviously you guys have millions of fans of that,

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Speaker 3: I'm sure you know who he is.

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Speaker 1: I thought you were gonna lead with with Ian and Mark.

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Speaker 1: If you're a fan of that, I thank you. That's

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Speaker 1: my guy. Now we're talking who gives a shit about them?

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Speaker 3: About that?

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Speaker 5: No no, No, I'm just kidding.

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Speaker 2: I'm kidding.

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Speaker 5: We're definitely gonna talk business.

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Speaker 3: But yeah, I mean I think everybody kind of knows you,

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Speaker 3: but they don't really know too much. They know something.

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Speaker 2: They see you a lot.

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Speaker 5: Yeah, they hear about it about you.

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Speaker 3: They hear about this is true. I don't think they

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Speaker 3: see them a lot. I think they hear about them.

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Speaker 3: They see a tweet, but it's like, you know, I

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Speaker 3: don't think that they really have heard long form conversation

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Speaker 3: and him his thesis on a variety of different things,

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Speaker 3: like it's more a tweet or you know, kind of

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Speaker 3: like a.

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Speaker 5: They get flashes of you'll see clips on it.

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Speaker 1: I know you had the show with y'all were talking

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Speaker 1: with you know, your significant others.

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Speaker 2: So that was very odd.

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Speaker 3: Wives.

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Speaker 2: A little bit more of you is being displayed to

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Speaker 2: the world.

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Speaker 5: I don't know if that was the side I wanted

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Speaker 5: to display. There we go all for the betterment of

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Speaker 5: the network. There you go network, anything to make the

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Speaker 5: network go.

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Speaker 3: So we're going to have an interesting conversation. We got

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Speaker 3: a lot to talk about it, and it's perfect time

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Speaker 3: and as far as yes it is, oh my god,

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Speaker 3: it's concerned. But first and foremost, thank you for joining us,

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Speaker 3: Thank you for having me. I'm a big fan of

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Speaker 3: you guys.

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Speaker 5: I appreciate that you guys do the one thing that

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Speaker 5: I feel like there's the biggest gap with which is

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Speaker 5: the financial literacy, the business conversations that actually matter, that

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Speaker 5: make the wheel turn. So I'm honored to be on

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Speaker 5: the show. I appreciate you guys having me, and I

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Speaker 5: feel like we're going to have a really interesting conversation.

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Speaker 2: Yeah, yeah, for sure.

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Speaker 3: So all right, we're going to get into Netflix, We're

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Speaker 3: going to get into the state of podcast. But before

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Speaker 3: we start, let's let's let's bring it back and let's

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Speaker 3: really figure out exactly who Ian is. Are you Joe

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Speaker 3: Buden's business partner? Are you his manager? How did the

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Speaker 3: relationship start? I know you manage other people, you manage,

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Speaker 3: you said, Remy Ma.

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Speaker 5: I work with Remy Ma, pre Primo, DJ Premiere, Pat

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Speaker 5: Pat Poos, I work with Royce, I work with Brady

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Speaker 5: Watt and Joe Budden.

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Speaker 3: Okay, so what is your relationship with the Joe Button Podcast.

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Speaker 5: I am Joe Budden's business partner.

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Speaker 3: So you own you own a part of the show network,

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Speaker 3: your equity would Yeah.

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Speaker 5: I would say it's even deeper than that. Okay, the

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Speaker 5: word equity is you know, that's a loosely thrown around

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Speaker 5: term nowadays. But I'm an integral part of how the

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Speaker 5: business was formed and how the business operates and runs today.

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Speaker 5: So yes, I'm definitely an owner in the Joe Budden Network. However,

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Speaker 5: I will say this clearly that the Joe Budden Network

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Speaker 5: is owned by Joe Budden, which is a very important piece.

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Speaker 5: And I don't mean solely, but there are no angel

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Speaker 5: investors or majority shareholders. It is owned by Joe Buden. Yes,

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Speaker 5: my involvement is there. I do have ownership there, but

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Speaker 5: it's in a very unique way, and Joe and I

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Speaker 5: have found an ability to work together that has set

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Speaker 5: us apart from every other business relationship you kind of

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Speaker 5: see in our space, which I think is played to

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Speaker 5: our benefit and to the benefit of the podcasting and

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Speaker 5: multimedia space at large.

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Speaker 1: This is a It's interesting because obviously since you've been

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Speaker 1: with the show, that has obviously been a shift in

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Speaker 1: the direction of the show.

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Speaker 2: How did you too, who first meet?

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Speaker 1: Is it from managing the other artists in the world

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Speaker 1: of hip hop and then getting involved in his career

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Speaker 1: and hip hop. What was it like, Hey, they've got

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Speaker 1: something going on in there that's interesting that we can

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Speaker 1: help elevate.

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Speaker 5: It first started through Parks. Shout out to Parks. So

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Speaker 5: Parks was DJ Premier's engineer and him and I had

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Speaker 5: a very close relationship. I've been managing DJ Premier at

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Speaker 5: that point for five years and we were doing really well.

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Speaker 5: And I guess at the same time, Parks was also

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Speaker 5: Joe's engineer for his musical career. So one night when

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Speaker 5: I was with Premium, Parks, Parks pulled me aside and said, look,

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Speaker 5: I know Joe needs management, he needs someone who really

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Speaker 5: understands the business. Well, can I introduce you to I

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Speaker 5: think you guys should be a perfect fit for each other,

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Speaker 5: which the rest of the industry, when I started poking around,

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Speaker 5: felt the exact opposite.

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Speaker 2: They thought we were.

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Speaker 5: Oil and vinegar Joe and I and it would never work.

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Speaker 5: So Parks introduced us, brought up together. We had a

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Speaker 5: couple of meetings and we actually realized that a lot

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Speaker 5: of our sentiments were aligned. Joe was at a point

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Speaker 5: and I know he doesn't mind me saying this where

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Speaker 5: he's like, look what I'm doing isn't working. I need

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Speaker 5: someone who actually understands the business, understands what I bring

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Speaker 5: to the table, and can help show me a new way.

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Speaker 5: And those words resonated with me really deeply because I

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Speaker 5: was tired of just playing a business position. I wanted

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Speaker 5: to have more of a say in the strategy, the

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Speaker 5: creative strategy, and a new way of doing business. And

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Speaker 5: this goes back. I've been with Joe now almost ten

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Speaker 5: years as of April, so him and I have had

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Speaker 5: a long run together. And yeah, I mean Joe and

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Speaker 5: I's history starts with us doing a final album, Rage

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Speaker 5: in the Machine, that we did at Arab Music and Empire,

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Speaker 5: and me securing him his first independent deal that we

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Speaker 5: still make money from every month to this day, almost

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Speaker 5: ten years later. And when we were on the road

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Speaker 5: with Keeb over there my partner. It was me, Joe, Parks,

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Speaker 5: Keeb and a few other people. We were halfway through

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Speaker 5: the tour and promoting this album and Joe turned around

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Speaker 5: and said, I'm done with this stuff. He was absolutely

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Speaker 5: ready to stop the music side and get into the

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Speaker 5: multimedia and broadcast side. And I said to him, okay, good,

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Speaker 5: well that means we have to put this down completely

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Speaker 5: and hyper focus on what we want to do with

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Speaker 5: the media side. And one little thing I want to

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Speaker 5: preface my entire relationship with Joe is the very first

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Speaker 5: time I met him, I told him I'm really not

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Speaker 5: that big a fan of your music. I was more

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Speaker 5: a fan seriously, and I know that sounds harsh you.

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Speaker 5: We weren't even ten minutes into a meeting and I

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Speaker 5: was like, I'm really not the biggest fan of your music.

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Speaker 5: I'm a fan of your personality. I always felt like

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Speaker 5: Joe was hip hop's version of Howard Stern. He was

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Speaker 5: so polarizing, like anytime I'd see him, well, I remember

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Speaker 5: him back in three doing the morning show Drivetime Morning

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Speaker 5: Show for a very short time, and I always thought

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Speaker 5: his personality was like so brash, and then secondary to

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Speaker 5: that was his TV stent with like love and hip

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Speaker 5: hop and anything he did in reality TV. I just

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Speaker 5: felt like, Wow, this guy is something different than everyone

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Speaker 5: else that's on screen. He's unafraid to be himself. He's

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Speaker 5: unafraid to say how he feels, whether it makes him

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Speaker 5: look bad or good, and that was attractive to me,

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Speaker 5: being a huge Howard Stern junkie. So long story short.

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Speaker 5: When I met Joe and we were having discussions about

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Speaker 5: working together, I told him I was like, I'm more

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Speaker 5: interested in building a media business with you than I

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Speaker 5: am doing anything with your music. So it was ironic

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Speaker 5: that that ended up leading to his last album and

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Speaker 5: us building you know, the Joe Budden Network and working

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Speaker 5: on podcasting and media.

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Speaker 3: So it's interesting and the rest is history. Thank you

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Speaker 3: for the interview. All right, okay, so let's get into it. Hmm,

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Speaker 3: what are we getting into everything?

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Speaker 5: There was a you guys know too much? So I

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Speaker 5: want to want to get into real stuff because if not,

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Speaker 5: we're wasting time.

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Speaker 3: We have family and friends. Yeah we got it, Yeah,

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Speaker 3: we got it. We don't have time to waste. We don't.

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Speaker 5: I mean literally, like things are happening so fast in

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Speaker 5: the landscape that I'd be worried if something like this

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Speaker 5: doesn't come out. Actually, because no one knows shit. Let's

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Speaker 5: be honest, no one knows anything in this space. Everyone's

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Speaker 5: doing the same thing they did in hip hop. How

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Speaker 5: do I get the quickest bag and how do I

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Speaker 5: keep myself above water so that I could do a

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Speaker 5: show long enough to get enough money to hopefully make

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Speaker 5: it to a second round. It's it's almost like squid

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Speaker 5: games for media.

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Speaker 3: That's exactly we told about that yesterday on our other show,

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Speaker 3: is that it's turned in podcasting has turned into new

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Speaker 3: hip hop. Before hip hop, it was Okay, my goal

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Speaker 3: is to put some music out so I can sign

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Speaker 3: a record contract. I don't care about my licensing. I

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Speaker 3: don't care about masters, I don't know about I just

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Speaker 3: want one hundred thousand dollars calls a couple hundred thousand

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Speaker 3: dollars up front. I want to be lit, and I

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Speaker 3: want to travel the world and.

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Speaker 5: Tour money, jewelry objects, things that really have no long

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Speaker 5: term value, and no one really cares about the rights.

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Speaker 3: But the reason why, the reason to me, the reason

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Speaker 3: why he did that because they didn't see a pathway

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Speaker 3: to monetize their music other than that. And then the

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Speaker 3: South comes in and then the independent labels, and they

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Speaker 3: then they provide a new blueprint of how you can

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Speaker 3: actually still maintain ownership. Right. But now I think it's

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Speaker 3: the same space in the podcast space where a lot

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Speaker 3: of people are saying be independent, do that, but there's

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Speaker 3: not a lot of people that have provided as blueprint

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Speaker 3: to how to actually monetize the podcast. It's very difficult

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Speaker 3: to monetize a podcast for just a regular person. I'm

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Speaker 3: just talking about regular nonsense. Absolutely, it's difficult to monetize that.

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Speaker 3: So I understand that they look at it from a

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Speaker 3: standpoint of I want to get a deal because how

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Speaker 3: else are they going to make money?

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Speaker 2: There you go, well, as part of that, because I

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Speaker 2: agree with what you're saying, it's part of it. Its

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Speaker 2: union is that? Is it? The lack of transparency? Right?

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Speaker 1: So if people are doing it and there isn't the

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Speaker 1: exact blueprint, I mean, everybody's situation is different because everybody's

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Speaker 1: value add is going to be different. But because we

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Speaker 1: don't know what's happening here or there or there, we're

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Speaker 1: just kind of freelancing it.

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Speaker 2: And what we do know is, oh, in music, that's

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Speaker 2: how this works. Let's do that.

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Speaker 5: Right, they're copying templates that existed in the past. I

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Speaker 5: would say this, I don't think it's a lack of transparency.

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Speaker 5: I think it's a lack of curiosity. I don't think

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Speaker 5: there's enough people asking the right questions. There's not enough

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Speaker 5: people knocking on doors that matter. Everyone's sort of following

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Speaker 5: the herd, so to speak. If ninety percent of the

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Speaker 5: industry's looking for exclusive deals because an exclusive deal means

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Speaker 5: you're getting a guaranteed check, then that's what the industry

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Speaker 5: at large learns, which is why myself and Joe are

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Speaker 5: so animate about putting out publicly some of the partnerships

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Speaker 5: and directions we're going in that are the exact opposite

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Speaker 5: of the rest of the industry. I mean, yes, this

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Speaker 5: is a repeat of the old school music business. Everyone's

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Speaker 5: looking for a way to survive and eat. Okay, so

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Speaker 5: that's the premise of the whole thing. But the biggest

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Speaker 5: problem that I see is no one knows how to

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Speaker 5: build a business. So like, you guys are amazing at

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Speaker 5: teaching financial literacy, but who's teaching creators how to build businesses?

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Speaker 5: Because in my mind, I look at first of all,

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Speaker 5: I'm new dad. I have a four month old daughter,

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Speaker 5: Thank you very much. That's my proudest achievement. Forget the

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Speaker 5: business and all that stuff. That's great, but that's my

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Speaker 5: proudest achievement. But something I look at that's impressive to

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Speaker 5: me and is very interesting and to me is the

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Speaker 5: litmus test of what's coming is in ten years. I

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Speaker 5: don't think my daughter and her friends will be looking

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Speaker 5: for jobs at a restaurant as waiters and waitresses. I

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Speaker 5: think they're going to be content creators, okay, because I

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Speaker 5: think that's going to be far more accessible and normalized

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Speaker 5: than going to get a job at a retail business,

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Speaker 5: a brick and mortar business, a restaurant, a bartender. And

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Speaker 5: so what's happening right now is the separation of people

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Speaker 5: who are inquisitive enough to research how do I turn

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Speaker 5: this into a business, this media thing, and the people

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Speaker 5: who are like, Okay, I see what these ten people

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Speaker 5: I look up to are doing, how can I mimic them?

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Speaker 5: And if nine out of ten of those people are

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Speaker 5: just taking deals where they're giving up ownership and releasing

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Speaker 5: the relinquishing their IP, then ninety percent of the industry

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Speaker 5: is learning the wrong thing. My goal with Joe is

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Speaker 5: not just a selfish we want to succeed goal. I

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Speaker 5: truly believe, and I said this in a spaces with

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Speaker 5: Joe and Danny from the Stop last night. I said,

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Speaker 5: I want to give the information out for free. I

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Speaker 5: don't want I don't want money for any of it,

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Speaker 5: because I want to be in an ecosystem where some

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Speaker 5: of the people I may want to sign do business

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Speaker 5: with down the road are just as knowledgeable as me.

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Speaker 5: I don't want to be working with people that are

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Speaker 5: lost in the abyss aloof don't have a clue how

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Speaker 5: to do business, because then it's me teaching you everything.

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Speaker 3: So what's the blueprint? Because I've said, I mean I

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Speaker 3: can get people our blueprint. But our blueprint is unique?

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Speaker 5: But why hold on? Why is it unique?

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Speaker 3: Well?

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Speaker 5: Was it unique or is it just that it worked

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Speaker 5: for you?

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Speaker 3: It's a niche category that we're in is as finances.

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Speaker 5: So take that back. It's not unique. It's your category

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Speaker 5: is niche. Your business model is actually just you guys

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Speaker 5: understanding how to do business. And that we got to

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Speaker 5: stop making doing good business taboo. Why is that such

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Speaker 5: a mythical thing. Business is business. It doesn't matter if

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Speaker 5: you're selling cars, it doesn't matter if you're selling content.

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Speaker 5: It doesn't matter if you're selling CDs or vinyl. Good

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Speaker 5: business is good business. We are accustomed in music to

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Speaker 5: taking bad deals because we need to, and that needs

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Speaker 5: to be eliminated. That from an integral point needs to

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Speaker 5: be eliminated. This is the revolution of the multi media landscape.

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Speaker 5: D two CE direct to consumer is the new path.

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Speaker 5: If everyone's out here chanting, go sign a deal with Spotify,

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Speaker 5: Go sign a deal with Amazon. And I don't think

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Speaker 5: it's a bad thing if you do. But if that's

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Speaker 5: all you hear, and how do you know what your

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Speaker 5: capabilities are in a direct consumer marketplace?

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Speaker 3: But most people are lazy too, though they don't want to.

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Speaker 3: They don't want to really be independent because it's a

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Speaker 3: lot that goes into being completely independent.

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Speaker 2: There you go, well risk off the two.

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Speaker 5: Well, there you go, Well this is something we should

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Speaker 5: talk about. You can de risk yourself. But then don't

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Speaker 5: expect upside. Be okay getting a salary and stop looking

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Speaker 5: googly eyed at your company that you work for when

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Speaker 5: the owners get all the upside and saying where's my piece? Well,

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Speaker 5: you don't get a piece. You're de risked.

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Speaker 3: It's called plug and play for you. There's a happy

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Speaker 3: medium that you can sign and still have some level

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Speaker 3: of independence from the ancillary thing. Because I always look

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Speaker 3: at podcasting as not necessarily the content that makes money

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Speaker 3: is the ancillary things around it.

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Speaker 5: No, the content can make money, and that's where I

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Speaker 5: want to help you. We're trained to think and we've

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Speaker 5: been trained more specifically in recent time, to think that streaming,

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Speaker 5: let's talk about music and content, that streaming has devalued ip,

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Speaker 5: whether it's music, content, audio, it's not true. It's just

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Speaker 5: that no one's taking the steps to see what their

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Speaker 5: value is where it really stands. Because if all you're

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Speaker 5: doing is signing exclusive deals, you're de risking yourself. You're

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Speaker 5: also putting a ceiling above you that says I'm worth

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Speaker 5: X because company Y says this is what I'm worth.

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Speaker 5: But the calculation's wrong. What they give you in a

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Speaker 5: deal is not what you're worth. That's what they're willing

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Speaker 5: to pay you. Their calculation on you is what you're worth,

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Speaker 5: but they don't tell you that. If if I work

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Speaker 5: at Spotify right yep, and I come to EYL, I said, guys,

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Speaker 5: I want to give you an exclusive licensing deal. I

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Speaker 5: want your audio, I want your video. I'm going to

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Speaker 5: give you a million dollars a year. You say, no, Ian,

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Speaker 5: I'm not going to accept a million. I'll accept one

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Speaker 5: point five million. But back in my calculator, I've already

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Speaker 5: done some crunching of numbers that says I'm going to

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Speaker 5: make three million off of them. Let's give them the

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Speaker 5: one and a half. You don't ever get to know

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Speaker 5: you're worth three.

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Speaker 1: But that's part of it, is, right, is that how

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Speaker 1: do even coming up with valuations?

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Speaker 2: It's tough.

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Speaker 1: It's not language that gets spoken about, like how do

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Speaker 1: we even know what it's worth?

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Speaker 2: Right? So like, good.

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Speaker 3: Question, Well how do we even know what the numbers are?

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Speaker 2: Right?

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Speaker 3: Really? If you really want to be technical.

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Speaker 5: Well I'm going to tell you how. Now, you guys,

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Speaker 5: this is something you're familiar with. We've built an enormously

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Speaker 5: scaled business with the Joe Budden network at Patreon. So

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Speaker 5: here's the thing. You can't know what your value is

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Speaker 5: with a streamer. If the streamer has come up with

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Speaker 5: their own formula to pay you out for every fifteen

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Speaker 5: hundred streams you get the equivalent of one album sale. Well, well,

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Speaker 5: then how the fuck am I supposed to really know

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Speaker 5: what I'm worth? But if you're a Patreon and you

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Speaker 5: say every piece of content a la carte that you

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Speaker 5: want to watch on my Patreon cost ten bucks, and

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Speaker 5: every subscription that we offer to a customer is either five, ten, fifteen,

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Speaker 5: twenty five, or fifty dollars per month, then all of

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Speaker 5: a sudden, you can figure out what you're worth. Your

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Speaker 5: fans will dictate it. It's not a guessing game. And

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Speaker 5: that's where I get frustrated.

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Speaker 1: This is real quick because there's that moment I'm sure

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Speaker 1: most people were looking at it maybe five six years

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Speaker 1: ago when the Spotify situation did come up and you

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Speaker 1: guys say no, right, and.

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Speaker 5: Then pivotal moment in the in the industry or podcasts go.

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Speaker 1: Ahead, right, and obviously Patreon, we will own Patreon.

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Speaker 2: Understand how Patreon works.

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Speaker 1: There was like some creative things that were given to

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Speaker 1: you guys or earned by you guys. The moment when

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Speaker 1: I believe it was Wall Street Journal puts out the

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Speaker 1: article this year New York Times, New York Times talk

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Speaker 1: about conviction in the belief of what you guys had

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Speaker 1: to the point of this year when it's like we told.

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Speaker 5: You yes, talk about that. So this goes back to

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Speaker 5: us being in a war room, Joe and I, because

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Speaker 5: it really is it's just me and Joe, Keeb and

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Speaker 5: Corey at the very most, talking behind the scenes of

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Speaker 5: what we think things are, what are we witnessing, how

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Speaker 5: are we looking at the data? Because to be transparent

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Speaker 5: with you, we're not just a media company, and we're

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Speaker 5: not just a media company. We're a data company.

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Speaker 2: I have been.

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Speaker 5: Collecting the data from every platform that will provide it

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Speaker 5: for us for almost ten years, and so I'm not

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Speaker 5: looking at stats or analytics anymore. I'm looking at a blueprint.

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Speaker 5: I'm looking at a story. The numbers tell a story.

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Speaker 5: Who's listening, where they're listening, from, what times they're listening,

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Speaker 5: what's the retention rate? Somewhere along the lines of twenty

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Speaker 5: eighteen to twenty twenty, I was watching an audience become

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Speaker 5: ritualistically attached to the show in a way where I'm like,

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Speaker 5: this is no longer about popularity, this is something much bigger.

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Speaker 5: I was watching they're listening and viewing habits and thinking

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Speaker 5: to myself, wait a second, how much money is it

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Speaker 5: possible for us to earn if we weren't under an

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Speaker 5: exclusive licensing deal. What if we My first thought was,

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Speaker 5: what if we created our own app and we just

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Speaker 5: had everyone coming directly to us. I thought, okay, Google,

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Speaker 5: like we could set up passive Google ad Sense, we

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Speaker 5: could set up a subscription model. I wasn't thinking Patreona first,

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Speaker 5: but then I started looking at the weekly listenership. How

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Speaker 5: many people were showing up weekly, let's call it a million.

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Speaker 5: Let's just for sake of this conversation, say a million

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Speaker 5: people a week were listening to two episodes. So that's

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Speaker 5: over four million unique listeners a month. And I started

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Speaker 5: doing maths. I went like this, this is literally what

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Speaker 5: I did. I took out my calculator and I said, okay,

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Speaker 5: let's call it four million people times.

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Speaker 3: Two percent.

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Speaker 5: Four million people listening a month times two percent of

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Speaker 5: the audience is eighty thousand people. What if I can

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Speaker 5: get eighty thousand people to pay us a monthly subscription.

437
00:23:13,480 --> 00:23:16,080
Speaker 5: And then I did the math and I said, times

438
00:23:16,119 --> 00:23:20,959
Speaker 5: ten bucks, eight hundred thousand a month. If I can

439
00:23:21,000 --> 00:23:24,520
Speaker 5: get eighty thousand people to move away from Spotify, to

440
00:23:24,600 --> 00:23:28,600
Speaker 5: move away from our free tier, and to pay for

441
00:23:28,840 --> 00:23:32,520
Speaker 5: a direct subscription to exclusive content, not bonus content that's

442
00:23:32,520 --> 00:23:36,160
Speaker 5: the lazy way out of Patreon, but to exclusive content,

443
00:23:36,200 --> 00:23:38,040
Speaker 5: well then I have an eight hundred thousand dollars a

444
00:23:38,040 --> 00:23:40,960
Speaker 5: month business, which far exceeds what we were getting at Spotify,

445
00:23:41,200 --> 00:23:44,120
Speaker 5: which far exceeds the offers I was receiving from other

446
00:23:44,200 --> 00:23:50,520
Speaker 5: competing platforms. And that's where the dreaming, the thoughts turned

447
00:23:50,520 --> 00:23:53,280
Speaker 5: into conviction. Joe and I looked and I said, buddy,

448
00:23:53,320 --> 00:23:57,520
Speaker 5: two percent, that's nothing. You think if we shut down

449
00:23:57,560 --> 00:24:00,600
Speaker 5: a show off of Spotify and Apple right now, two

450
00:24:00,600 --> 00:24:03,680
Speaker 5: percent not coming. They're watching this shit forty hours a week.

451
00:24:03,880 --> 00:24:08,240
Speaker 5: But they're hooked. This is their Howard Stern. This gets

452
00:24:08,280 --> 00:24:11,840
Speaker 5: them through work. They use it for entertainment, they listen

453
00:24:11,920 --> 00:24:15,639
Speaker 5: with their significant other. They're laughing, they're crying. They're winning

454
00:24:15,640 --> 00:24:20,040
Speaker 5: with us. And I just my calculation was simple. I

455
00:24:20,080 --> 00:24:24,359
Speaker 5: don't see offers anywhere close to that. The opportunity is

456
00:24:24,440 --> 00:24:27,520
Speaker 5: much greater for us to take a swing here. And

457
00:24:27,720 --> 00:24:29,240
Speaker 5: I said, as long as we own a piece of

458
00:24:29,240 --> 00:24:31,880
Speaker 5: the company we get in business with, then I think

459
00:24:31,920 --> 00:24:35,800
Speaker 5: it's a zero risk proposition. And that's how the Patreon

460
00:24:36,119 --> 00:24:39,280
Speaker 5: conversation started. I didn't just want and we went in

461
00:24:39,280 --> 00:24:41,040
Speaker 5: there and we didn't get a dollar. We didn't want money,

462
00:24:41,280 --> 00:24:45,840
Speaker 5: we wanted no advance, we wanted no support. We just

463
00:24:45,880 --> 00:24:49,840
Speaker 5: wanted the ability to really figure out our value and

464
00:24:49,920 --> 00:24:52,439
Speaker 5: we wanted skinning the game with the company we were

465
00:24:52,440 --> 00:24:55,520
Speaker 5: going to bring that value to and we got both.

466
00:24:56,080 --> 00:25:00,240
Speaker 3: So let's talk about this Patreon situation. You guys, surenumber

467
00:25:00,240 --> 00:25:01,520
Speaker 3: one Patreon.

468
00:25:01,600 --> 00:25:04,679
Speaker 5: Number one, Yes, have been number one for quite a

469
00:25:04,680 --> 00:25:08,320
Speaker 5: long time, but the biggest We are the biggest network

470
00:25:08,320 --> 00:25:09,840
Speaker 5: and creator to ever touch.

471
00:25:09,640 --> 00:25:16,120
Speaker 3: Down a Patreon. Okay, factually, factually actually, so Patreon. Let's

472
00:25:16,160 --> 00:25:18,680
Speaker 3: let's really break this down because a lot of other

473
00:25:18,720 --> 00:25:21,880
Speaker 3: people have followed the Patreon model. Yes, I'm not really

474
00:25:21,920 --> 00:25:27,600
Speaker 3: sure how well is working out for everybody, definitely, and

475
00:25:27,600 --> 00:25:30,120
Speaker 3: there's other people that have different variations of it. Eighty

476
00:25:30,160 --> 00:25:34,399
Speaker 3: five South they have their own app. That's great, and

477
00:25:34,480 --> 00:25:36,240
Speaker 3: like I said, even the reason why I said that

478
00:25:36,280 --> 00:25:39,880
Speaker 3: our situation is a little different is because me personally, right,

479
00:25:39,960 --> 00:25:42,240
Speaker 3: I don't see the value in charging for content. We

480
00:25:42,359 --> 00:25:45,040
Speaker 3: have a paywall, but our paywall is a subscription based

481
00:25:45,040 --> 00:25:48,080
Speaker 3: model for our educational services, which I think is beautiful.

482
00:25:48,160 --> 00:25:50,239
Speaker 3: But that's the kind of a form of a paywall, right,

483
00:25:50,240 --> 00:25:51,919
Speaker 3: So I think that there's different ways to kind of

484
00:25:51,960 --> 00:25:54,879
Speaker 3: have different levels of paywall. But you guys do it

485
00:25:54,920 --> 00:25:58,040
Speaker 3: where you're still putting out free content all the time

486
00:25:58,119 --> 00:26:01,399
Speaker 3: on YouTube, then you absolutely have the Patreon model. Like

487
00:26:01,440 --> 00:26:04,680
Speaker 3: I said, people have tried to just go full Patreon.

488
00:26:05,080 --> 00:26:08,240
Speaker 3: People have tried to do what you do fifty to fifty. Yep,

489
00:26:08,720 --> 00:26:10,200
Speaker 3: I don't think it's working for a lot of people.

490
00:26:10,280 --> 00:26:12,560
Speaker 3: I don't know. I haven't studied the analytics. So why

491
00:26:12,600 --> 00:26:15,200
Speaker 3: is it not working for everybody? And what are people

492
00:26:15,240 --> 00:26:20,600
Speaker 3: doing wrong that you did? Right? That's a really cool question.

493
00:26:21,359 --> 00:26:23,320
Speaker 5: I don't think it's not I don't answer your question.

494
00:26:23,359 --> 00:26:25,240
Speaker 5: I don't think it's not working for people. I don't

495
00:26:25,280 --> 00:26:28,360
Speaker 5: think people are working for themselves. I think people come

496
00:26:28,400 --> 00:26:30,720
Speaker 5: up with every excuse in the book why things aren't working,

497
00:26:31,600 --> 00:26:36,160
Speaker 5: and what they're not doing is sitting down with one

498
00:26:36,240 --> 00:26:38,760
Speaker 5: or two people that they have a chemistry with on

499
00:26:38,840 --> 00:26:41,840
Speaker 5: the business and creative side to say, what have we

500
00:26:41,920 --> 00:26:46,720
Speaker 5: not tried yet? Okay, my formula isn't necessarily going to

501
00:26:46,800 --> 00:26:50,200
Speaker 5: work for Eyl. Eyl's formula is not necessarily going to

502
00:26:50,280 --> 00:26:54,680
Speaker 5: work for Joe and Jada. Everybody has a different audience, right.

503
00:26:55,960 --> 00:26:59,480
Speaker 5: But what I think happens is people hit a wall quickly,

504
00:26:59,520 --> 00:27:02,760
Speaker 5: which we've at so many walls, and based on what

505
00:27:02,800 --> 00:27:06,840
Speaker 5: you do after you hit that wall determines where you

506
00:27:06,920 --> 00:27:09,679
Speaker 5: land next. And I think it's not that it's not

507
00:27:09,800 --> 00:27:13,320
Speaker 5: working for people. I think it's people aren't taking enough

508
00:27:13,359 --> 00:27:17,720
Speaker 5: initiative to work for themselves. This isn't the land of

509
00:27:17,800 --> 00:27:20,320
Speaker 5: like if a doesn't work that means B through Z

510
00:27:20,480 --> 00:27:22,359
Speaker 5: isn't going to work. You have to be willing to

511
00:27:22,440 --> 00:27:24,960
Speaker 5: try some things. You have to be willing to say

512
00:27:24,960 --> 00:27:27,000
Speaker 5: I'm only putting out one piece of content a week, Well,

513
00:27:27,000 --> 00:27:29,280
Speaker 5: maybe I need to put up five. Maybe I need

514
00:27:29,320 --> 00:27:31,760
Speaker 5: to release every day until I start to get a

515
00:27:31,800 --> 00:27:35,400
Speaker 5: gauge of what works and what doesn't for me. And

516
00:27:35,440 --> 00:27:40,560
Speaker 5: so I also want to make clear the scale of

517
00:27:40,560 --> 00:27:43,359
Speaker 5: our business is not something that I think every business

518
00:27:43,440 --> 00:27:46,040
Speaker 5: is going to have. Where the unicorn. Yeah, of course,

519
00:27:46,200 --> 00:27:48,760
Speaker 5: so let's not compare apples to arms.

520
00:27:48,960 --> 00:27:51,520
Speaker 3: But it's still something that but it's still something that

521
00:27:51,560 --> 00:27:53,680
Speaker 3: you can It might not be how much money you

522
00:27:53,680 --> 00:27:57,680
Speaker 3: make it on Patreon. You saw in the New York

523
00:27:57,720 --> 00:27:58,720
Speaker 3: Times twenty million.

524
00:27:58,520 --> 00:27:59,760
Speaker 2: Dollars was accurate at least.

525
00:28:00,600 --> 00:28:03,040
Speaker 3: Okay, so you're making a million dollars a month on Patreon.

526
00:28:03,800 --> 00:28:05,440
Speaker 3: Somebody can make one hundred thousand.

527
00:28:05,600 --> 00:28:07,879
Speaker 5: So what about someone making And this is where I

528
00:28:07,920 --> 00:28:10,520
Speaker 5: get mad at people like you, guys who are so educated,

529
00:28:11,080 --> 00:28:14,040
Speaker 5: so well versed in the business. Lane, stop throwing those

530
00:28:14,119 --> 00:28:18,000
Speaker 5: numbers out. Why can't you tell people get one hundred

531
00:28:18,040 --> 00:28:21,200
Speaker 5: people to subscribe for ten bucks a month, that's a

532
00:28:21,400 --> 00:28:25,040
Speaker 5: thousand dollars a month passive that you don't have that

533
00:28:25,160 --> 00:28:29,120
Speaker 5: changes your movements, that maybe freeze you up one day

534
00:28:29,119 --> 00:28:32,119
Speaker 5: a week that you can now dedicate to content. Everyone's

535
00:28:32,160 --> 00:28:33,320
Speaker 5: looking to be a millionaire.

536
00:28:34,600 --> 00:28:35,440
Speaker 3: I'll be honest with you.

537
00:28:35,600 --> 00:28:39,640
Speaker 5: I never even considered the numbers we're doing right now

538
00:28:39,680 --> 00:28:43,360
Speaker 5: outside of a calculation based on listenership. I didn't know

539
00:28:43,400 --> 00:28:45,760
Speaker 5: if it was actually gonna happen. But the goal was

540
00:28:45,840 --> 00:28:50,240
Speaker 5: how do we become non reliant on the systems that

541
00:28:50,280 --> 00:28:52,880
Speaker 5: are in place for everyone else? That was the goal.

542
00:28:53,640 --> 00:28:56,960
Speaker 5: People want something that is so fucking pipe dreaming man,

543
00:28:57,000 --> 00:29:00,800
Speaker 5: and like, at some point, as leadership in this industry,

544
00:29:00,840 --> 00:29:03,600
Speaker 5: we have to stop putting these ridiculous numbers in front

545
00:29:03,600 --> 00:29:06,880
Speaker 5: of people and just say, hey, work on securing one

546
00:29:06,960 --> 00:29:10,880
Speaker 5: hundred people to subscribe to your channel. One hundred, then

547
00:29:11,000 --> 00:29:15,960
Speaker 5: work on one thousand. My theory is a thousand paid

548
00:29:16,040 --> 00:29:21,480
Speaker 5: subscribers changes your world forever because it's a monthly subscription,

549
00:29:21,760 --> 00:29:26,440
Speaker 5: it's reoccurring revenue, it's the you now have a marketplace

550
00:29:26,480 --> 00:29:33,440
Speaker 5: to sell hard products, ticket sales experiences. I would say

551
00:29:33,440 --> 00:29:37,080
Speaker 5: five to ten different verticals to them, and it could

552
00:29:37,080 --> 00:29:39,920
Speaker 5: turn into a multimillion dollar business at a thousand people.

553
00:29:40,200 --> 00:29:42,080
Speaker 5: I'm not saying you're making one hundred thousand a month,

554
00:29:42,120 --> 00:29:45,040
Speaker 5: and I'm not saying you're making millions a year. I'm

555
00:29:45,080 --> 00:29:48,200
Speaker 5: saying the potential is there. And I'm not mad at you.

556
00:29:48,200 --> 00:29:48,400
Speaker 3: Guys.

557
00:29:48,560 --> 00:29:50,320
Speaker 5: When I say mad, I don't mean literally, I just

558
00:29:50,440 --> 00:29:54,000
Speaker 5: mean I think because we are in a position where

559
00:29:54,040 --> 00:29:59,560
Speaker 5: we earn in a really big way in our categories,

560
00:30:00,240 --> 00:30:04,520
Speaker 5: we tend to project our goals onto people that are

561
00:30:04,560 --> 00:30:08,560
Speaker 5: just starting out, and I think it discourages them. And

562
00:30:08,600 --> 00:30:11,080
Speaker 5: I'm not saying I'm with you. I've done it before

563
00:30:11,120 --> 00:30:13,440
Speaker 5: and I'm mad at myself for doing it. But I

564
00:30:13,440 --> 00:30:18,040
Speaker 5: think we need to give more value to starting at

565
00:30:18,040 --> 00:30:22,080
Speaker 5: the bottom and genuinely working your way up and through

566
00:30:22,080 --> 00:30:24,720
Speaker 5: the process learning how to build a business, not learning

567
00:30:24,720 --> 00:30:27,880
Speaker 5: how to become famous. There's a difference. I know a

568
00:30:27,880 --> 00:30:32,000
Speaker 5: lot of people that are famous that are broke, so

569
00:30:32,160 --> 00:30:35,000
Speaker 5: people are actually after the wrong thing. In my opinion,

570
00:30:35,360 --> 00:30:37,360
Speaker 5: I'd like to see a bunch of non famous people

571
00:30:37,440 --> 00:30:39,360
Speaker 5: learn the business and get rich.

572
00:30:39,480 --> 00:30:43,560
Speaker 3: It is getting well saturated with celebrities that it is

573
00:30:43,560 --> 00:30:47,160
Speaker 3: getting fast tracking celebrities of fast tracking podcast, Let's see.

574
00:30:46,960 --> 00:30:50,920
Speaker 5: Honest celebrities are not I'm gonna tell you something celebrities,

575
00:30:50,920 --> 00:30:55,920
Speaker 5: in my opinion, are fast tracking failure. I've watched Spotify.

576
00:30:56,200 --> 00:30:59,280
Speaker 5: This isn't a disk. I've watched Spotify, Amazon, all the

577
00:30:59,280 --> 00:31:01,840
Speaker 5: big streamers go out and get the biggest names in

578
00:31:01,880 --> 00:31:05,120
Speaker 5: the world. Not only do those names not deliver a show,

579
00:31:05,800 --> 00:31:09,280
Speaker 5: but even when they deliver a show, they're not delivering numbers.

580
00:31:09,760 --> 00:31:12,280
Speaker 5: It's actually the opposite of what you thought you were

581
00:31:12,280 --> 00:31:14,080
Speaker 5: going to get. Now, if you go get that same

582
00:31:14,120 --> 00:31:18,320
Speaker 5: celebrity to post an Instagram in a bikini or next

583
00:31:18,320 --> 00:31:20,680
Speaker 5: to a pile of money, you may get three hundred

584
00:31:20,720 --> 00:31:21,760
Speaker 5: thousand people to like it.

585
00:31:21,840 --> 00:31:24,120
Speaker 2: Yeah, but what does that do for the overall business?

586
00:31:24,160 --> 00:31:25,400
Speaker 5: Right talks the whole industry.

587
00:31:25,800 --> 00:31:26,840
Speaker 2: So that's the part.

588
00:31:27,040 --> 00:31:29,600
Speaker 1: Right, So now when the company says, hey, we tried

589
00:31:29,600 --> 00:31:32,360
Speaker 1: it with celebrity A, We've never given that budget again.

590
00:31:32,400 --> 00:31:35,080
Speaker 2: We saw that failed. Right now, that money comes down.

591
00:31:35,040 --> 00:31:43,000
Speaker 5: Across Story two, not just celebrities, but actual valued enterprises

592
00:31:43,040 --> 00:31:46,360
Speaker 5: and ip that do deserve it. See, And that's why

593
00:31:46,440 --> 00:31:49,720
Speaker 5: I've done everything in my power with Joe to separate

594
00:31:49,800 --> 00:31:54,000
Speaker 5: ourselves from what the crowds are doing. You know, like

595
00:31:54,200 --> 00:31:57,400
Speaker 5: we're watching something very special happen right now with Netflix

596
00:31:57,440 --> 00:31:58,280
Speaker 5: and podcasting.

597
00:31:59,440 --> 00:32:00,520
Speaker 2: This is a good segue.

598
00:32:03,560 --> 00:32:04,600
Speaker 3: Actually, let me backtrack.

599
00:32:05,360 --> 00:32:09,680
Speaker 5: Spotify in twenty eighteen to twenty twenty were experimenting with advertising,

600
00:32:09,760 --> 00:32:13,840
Speaker 5: stitched advertising, ad reads, all that stuff. We went from

601
00:32:13,880 --> 00:32:16,959
Speaker 5: the first exclusive podcast in twenty eighteen to one of

602
00:32:17,040 --> 00:32:21,360
Speaker 5: let's say a thousand that were signed to Spotify. And

603
00:32:21,400 --> 00:32:24,200
Speaker 5: when everyone started taking on stitched ads, I begged Joe,

604
00:32:24,280 --> 00:32:27,280
Speaker 5: I said please, I said, I said, please, Let's not

605
00:32:27,360 --> 00:32:31,040
Speaker 5: take a single ad. The reason was I saw the

606
00:32:31,120 --> 00:32:36,920
Speaker 5: experience of podcasting being interrupted and devalued. You couldn't get

607
00:32:37,000 --> 00:32:40,720
Speaker 5: through a thirty minute podcast without hearing fourteen ads. I

608
00:32:40,880 --> 00:32:43,400
Speaker 5: was turning shows off that I used to listen to religiously.

609
00:32:43,880 --> 00:32:46,400
Speaker 5: So that's why I asked him stay away. Yeah, we

610
00:32:46,440 --> 00:32:50,680
Speaker 5: lost money, we lost potential money, but we gained the

611
00:32:51,240 --> 00:32:55,640
Speaker 5: respect and kept the experience at a premium for our

612
00:32:55,680 --> 00:32:59,480
Speaker 5: listenership and viewership, and that ultimately helped us win over

613
00:32:59,680 --> 00:33:04,120
Speaker 5: any sponsors or advertisers or corporate partnerships down the road

614
00:33:05,080 --> 00:33:07,440
Speaker 5: that we would have had in the moment for light money.

615
00:33:07,800 --> 00:33:08,640
Speaker 3: Yeah, you know.

616
00:33:09,160 --> 00:33:11,000
Speaker 2: You talked about experiencing world.

617
00:33:11,040 --> 00:33:14,640
Speaker 1: Obviously you guys super successful again a unicorn in the space,

618
00:33:14,920 --> 00:33:18,080
Speaker 1: but you said you experienced walls and barriers. Oh yeah,

619
00:33:18,640 --> 00:33:21,200
Speaker 1: obviously we talked about the Spotify thing, But I think

620
00:33:21,560 --> 00:33:23,920
Speaker 1: change is something that a wall that people kind of

621
00:33:23,960 --> 00:33:25,320
Speaker 1: overlook most shows.

622
00:33:25,360 --> 00:33:27,920
Speaker 2: When they have a change, show is going to not

623
00:33:28,040 --> 00:33:28,440
Speaker 2: do well.

624
00:33:28,520 --> 00:33:29,480
Speaker 3: Oh yeah, you.

625
00:33:29,440 --> 00:33:31,200
Speaker 1: Guys have had change, and it almost feels like it's

626
00:33:31,200 --> 00:33:33,240
Speaker 1: a constant change, whether it's we go from one day

627
00:33:33,240 --> 00:33:35,680
Speaker 1: to three day, we went from three holes to five holes,

628
00:33:35,680 --> 00:33:39,680
Speaker 1: to six holes to one hole, memssma, and the show

629
00:33:39,920 --> 00:33:43,800
Speaker 1: just becomes even more successful with each variation. How is

630
00:33:43,840 --> 00:33:48,160
Speaker 1: that maintained? And how did did you experience aniversity at

631
00:33:48,160 --> 00:33:50,120
Speaker 1: the time it's happening, because it feels like it's just

632
00:33:50,120 --> 00:33:52,400
Speaker 1: like a natural thing. All right, well, here's how we're

633
00:33:52,400 --> 00:33:53,080
Speaker 1: going to respond to it.

634
00:33:55,120 --> 00:33:59,600
Speaker 5: Those were scary times because it was like a first anything.

635
00:33:59,800 --> 00:34:04,600
Speaker 5: When you're first going through it is extremely intimidating, and

636
00:34:05,040 --> 00:34:07,280
Speaker 5: when all the adversity that you guys are talking about

637
00:34:07,440 --> 00:34:11,480
Speaker 5: was occurring in real time. Yes, we were fearful because A,

638
00:34:11,640 --> 00:34:13,360
Speaker 5: you don't know how the audience is going to react.

639
00:34:13,960 --> 00:34:15,719
Speaker 5: B you don't know how the partners you have are

640
00:34:15,719 --> 00:34:18,720
Speaker 5: going to react. And see it also leaves the show

641
00:34:18,880 --> 00:34:25,359
Speaker 5: in limbo, so you know, referencing losing you know, our

642
00:34:25,400 --> 00:34:29,880
Speaker 5: original cast when when the big split happened, that was

643
00:34:30,000 --> 00:34:34,320
Speaker 5: shocking for us. I mean, things weren't good energetically between

644
00:34:34,360 --> 00:34:36,840
Speaker 5: the crew, But that happens in any group setting musically,

645
00:34:36,880 --> 00:34:39,960
Speaker 5: like it's across the board in businesses. It's no different

646
00:34:39,960 --> 00:34:43,640
Speaker 5: in podcasting. So things weren't kosher in terms of like

647
00:34:43,760 --> 00:34:46,680
Speaker 5: how people were getting along, and it was also noticeable

648
00:34:46,719 --> 00:34:50,000
Speaker 5: publicly on the show. So when we face those moments,

649
00:34:50,400 --> 00:34:52,319
Speaker 5: I would be lying if I said, like, yeah, I

650
00:34:52,360 --> 00:34:55,400
Speaker 5: wasn't worried, Like I just wasn't sure of what the

651
00:34:55,440 --> 00:34:59,120
Speaker 5: outcome was going to be, and you know that's worrisome.

652
00:34:59,280 --> 00:35:04,359
Speaker 5: And we were at this like this turning point. Each

653
00:35:04,480 --> 00:35:11,280
Speaker 5: time we were it felt like like an animal outgrowing

654
00:35:11,440 --> 00:35:14,120
Speaker 5: their space, like I need a bigger space to live,

655
00:35:14,200 --> 00:35:17,440
Speaker 5: Like like we needed to shed the skin and go

656
00:35:17,520 --> 00:35:20,960
Speaker 5: through that experience and whatever came on the other side,

657
00:35:21,760 --> 00:35:24,319
Speaker 5: we needed to go through it and experience it to

658
00:35:24,320 --> 00:35:29,080
Speaker 5: get better. And so yeah, definitely questions from the partners,

659
00:35:29,440 --> 00:35:35,120
Speaker 5: definitely questions from leadership, myself, the remaining hosts when there

660
00:35:35,160 --> 00:35:39,600
Speaker 5: would be these these complications and and you learn how

661
00:35:39,640 --> 00:35:42,280
Speaker 5: to be a business owner, you learn how to handle

662
00:35:43,040 --> 00:35:46,200
Speaker 5: these difficult times with grace even if you're panicking inside,

663
00:35:46,360 --> 00:35:48,000
Speaker 5: because there was that this.

664
00:35:48,120 --> 00:35:48,759
Speaker 2: One part too.

665
00:35:48,800 --> 00:35:52,520
Speaker 1: It was like the JBP network, Yeah, uh had other

666
00:35:52,560 --> 00:35:53,880
Speaker 1: shows Oh that failed?

667
00:35:54,280 --> 00:35:55,640
Speaker 2: Right, So like yeah, like.

668
00:35:55,640 --> 00:35:59,200
Speaker 5: Absolutely, there's no like sweet way around. Like we started shows.

669
00:36:00,360 --> 00:36:03,319
Speaker 5: We were ambitious. We were watching the success of the

670
00:36:03,400 --> 00:36:06,279
Speaker 5: Joe Budden podcast and we said we could do more.

671
00:36:06,600 --> 00:36:09,919
Speaker 5: And honestly, some of it was premature, like we ran

672
00:36:10,080 --> 00:36:13,839
Speaker 5: into the fire thinking we could handle things that we

673
00:36:13,920 --> 00:36:19,000
Speaker 5: absolutely were not ready for. But doing that made us stronger.

674
00:36:19,040 --> 00:36:21,480
Speaker 5: It made us so much more powerful. It gave us

675
00:36:21,560 --> 00:36:26,480
Speaker 5: experiences that a conversation from one of our elder statesmen

676
00:36:26,520 --> 00:36:29,360
Speaker 5: who's been there and done it, like a Steve Harvey

677
00:36:29,440 --> 00:36:33,000
Speaker 5: or they couldn't have taught us. Some things can't be

678
00:36:33,200 --> 00:36:36,920
Speaker 5: told and received, They have to be experienced so that

679
00:36:37,000 --> 00:36:40,719
Speaker 5: you know what what you went through. You could you

680
00:36:40,760 --> 00:36:43,359
Speaker 5: could recall it down the line. You could use it

681
00:36:43,440 --> 00:36:47,080
Speaker 5: as you know, power of information to help you with

682
00:36:47,160 --> 00:36:52,680
Speaker 5: what's coming next. And yeah, we were not ready. We

683
00:36:52,719 --> 00:36:58,759
Speaker 5: had we started shows, they failed, they started great, but

684
00:36:59,000 --> 00:37:02,520
Speaker 5: because we were so green thumb and in knowing how

685
00:37:02,520 --> 00:37:08,800
Speaker 5: to be actual network executives, talent management, all the stuff

686
00:37:08,880 --> 00:37:11,040
Speaker 5: that we would that I was handling for Joe and

687
00:37:11,080 --> 00:37:16,160
Speaker 5: the podcast. You multiply that and you're understaffed, You're you're

688
00:37:16,200 --> 00:37:20,080
Speaker 5: not ready for certain things. It could have drowned us,

689
00:37:20,560 --> 00:37:23,359
Speaker 5: but it didn't. We never let it really go that far.

690
00:37:23,760 --> 00:37:26,120
Speaker 3: Talk about Okay, you talked about Netflix. Let's get into

691
00:37:26,120 --> 00:37:29,840
Speaker 3: this conversation. So Netflix shaking up the industry. They just

692
00:37:30,000 --> 00:37:35,799
Speaker 3: signed Ihearts, some of the iHeart podcasts, Yes, Breakfast Club,

693
00:37:35,920 --> 00:37:38,600
Speaker 3: Joe and Jada, like nineteen shows. So I spoke to

694
00:37:38,680 --> 00:37:41,719
Speaker 3: Charlamagne yesterday actually about this, yeah, and he had an

695
00:37:41,719 --> 00:37:43,600
Speaker 3: interest in take on it.

696
00:37:43,680 --> 00:37:44,359
Speaker 2: What was his take?

697
00:37:44,960 --> 00:37:47,400
Speaker 3: His take was that it's beneficial. You don't really know

698
00:37:47,480 --> 00:37:49,520
Speaker 3: exactly how it's going to play out, but it's beneficial

699
00:37:49,560 --> 00:37:52,719
Speaker 3: from the standpoint that YouTube has been taking advantage of

700
00:37:52,840 --> 00:37:55,839
Speaker 3: creators for a long time and that there's no alternative

701
00:37:55,920 --> 00:38:01,239
Speaker 3: to YouTube. Netflix obviously a higher level of production, So

702
00:38:01,400 --> 00:38:06,239
Speaker 3: it's is it Traditionally Netflix showed like you have to

703
00:38:06,280 --> 00:38:09,040
Speaker 3: even if you're filming a documentary on Netflix, to my understanding,

704
00:38:09,280 --> 00:38:11,320
Speaker 3: it has to be done with a certain level of camera.

705
00:38:11,360 --> 00:38:15,440
Speaker 3: They're not going to even four K. So YouTube you

706
00:38:15,440 --> 00:38:16,960
Speaker 3: can do anything. You can put anything on YouTube.

707
00:38:17,640 --> 00:38:20,600
Speaker 5: Yes, But but okay, so keep going.

708
00:38:20,680 --> 00:38:22,680
Speaker 3: So so he was just saying that he felt that,

709
00:38:24,080 --> 00:38:25,759
Speaker 3: like you said, it wasn't one hundred percent show of

710
00:38:25,800 --> 00:38:28,400
Speaker 3: like the total outcome, but he just feels like, Okay,

711
00:38:28,440 --> 00:38:33,239
Speaker 3: you know, Netflix is a it's a situation that could

712
00:38:33,280 --> 00:38:37,040
Speaker 3: potentially shake up the industry. And add I agree with

713
00:38:37,360 --> 00:38:41,319
Speaker 3: add more options better than having like a monopoly in

714
00:38:41,360 --> 00:38:43,680
Speaker 3: a sense as far as just YouTube controlling all of

715
00:38:43,719 --> 00:38:45,360
Speaker 3: the content. And then I look at it from a

716
00:38:45,360 --> 00:38:47,920
Speaker 3: standpoint of like, obviously that's going to come with a

717
00:38:47,960 --> 00:38:50,399
Speaker 3: certain level of guarantees as far as money. Going back

718
00:38:50,440 --> 00:38:55,400
Speaker 3: to this situation, it also some creators might be a

719
00:38:55,440 --> 00:38:58,120
Speaker 3: little scared and nervous because it's like me, personally, I'm

720
00:38:58,160 --> 00:39:00,960
Speaker 3: gonna be watching a lot less breakfast club content, not

721
00:39:01,080 --> 00:39:03,600
Speaker 3: because I don't like the breakfast club, but I'm not

722
00:39:03,640 --> 00:39:06,480
Speaker 3: on Netflix that like I'm on YouTube all day on

723
00:39:06,520 --> 00:39:09,800
Speaker 3: my phone. Right, Netflix is something I have to actually

724
00:39:09,840 --> 00:39:12,600
Speaker 3: take time sit down on my couch eleven o'clock at night,

725
00:39:13,160 --> 00:39:15,560
Speaker 3: like the television on I make a conscious decision. I've

726
00:39:15,560 --> 00:39:17,560
Speaker 3: never really watched Netflix on my phone other if I

727
00:39:17,640 --> 00:39:20,600
Speaker 3: download the documentary on a plane. But if I'm watching

728
00:39:20,640 --> 00:39:23,560
Speaker 3: just a random interview, I'm in the spur of the moment.

729
00:39:23,600 --> 00:39:25,000
Speaker 3: I just want to listen to it on my car.

730
00:39:25,360 --> 00:39:27,440
Speaker 3: You want to hit YouTube, get in, get out. But

731
00:39:27,680 --> 00:39:30,800
Speaker 3: Netflix also, I mean, you know, they have shows that

732
00:39:30,880 --> 00:39:33,160
Speaker 3: have billion Diddy documentary. I was like billions of streams

733
00:39:33,160 --> 00:39:35,640
Speaker 3: already in a couple of weeks, so they've pushed it

734
00:39:35,680 --> 00:39:38,040
Speaker 3: to the audience too, so they things can go viral

735
00:39:38,040 --> 00:39:38,959
Speaker 3: on Netflix as well.

736
00:39:39,200 --> 00:39:39,640
Speaker 5: Things do.

737
00:39:41,080 --> 00:39:46,239
Speaker 3: Okay, Netflix coming into podcast industry, you talked about it.

738
00:39:46,400 --> 00:39:48,719
Speaker 3: It's kind of reminiscent of something that happened a couple

739
00:39:48,719 --> 00:39:51,000
Speaker 3: of years ago. So let's have this conversation.

740
00:39:51,360 --> 00:39:58,400
Speaker 5: Sure, I think Netflix and YouTube were at war. Podcasting

741
00:39:58,640 --> 00:40:08,920
Speaker 5: changed the habits of listenership and viewership. Netflix and YouTube

742
00:40:08,920 --> 00:40:16,759
Speaker 5: are at war with cable television viewers and podcast listenership

743
00:40:16,760 --> 00:40:21,560
Speaker 5: across all DSPs. Vodcasts, which are the video side of

744
00:40:21,600 --> 00:40:28,640
Speaker 5: the podcasts, are becoming so relevant and so imperative to

745
00:40:29,040 --> 00:40:34,399
Speaker 5: premium platforms that without it, all you have are ten

746
00:40:34,480 --> 00:40:39,439
Speaker 5: to twelve episode programmatic shows like Ozark, and those take

747
00:40:40,320 --> 00:40:43,480
Speaker 5: six months two years to make, and then after three

748
00:40:43,560 --> 00:40:47,680
Speaker 5: days of being out, what are people watching? What they've

749
00:40:47,760 --> 00:40:50,400
Speaker 5: realized is what we've been saying for a long time.

750
00:40:50,920 --> 00:40:53,480
Speaker 5: We're putting out two episodes a week, three hours each.

751
00:40:53,520 --> 00:40:56,240
Speaker 5: We're giving this is just publicly. So the Joe Budden

752
00:40:56,280 --> 00:40:59,319
Speaker 5: podcast gives you six hours of free public and then

753
00:40:59,360 --> 00:41:03,960
Speaker 5: another six to eight hours paywalled, So we're talking about

754
00:41:03,960 --> 00:41:05,880
Speaker 5: between twelve and twenty hours a week.

755
00:41:06,280 --> 00:41:07,520
Speaker 3: We own the market share.

756
00:41:09,719 --> 00:41:12,680
Speaker 5: Netflix looks now and goes what Spotify did back in

757
00:41:12,680 --> 00:41:16,400
Speaker 5: twenty eighteen. Holy shit, we're paying the labels all this

758
00:41:16,560 --> 00:41:20,319
Speaker 5: money for the music licenses we have. But what if

759
00:41:20,360 --> 00:41:24,319
Speaker 5: we enter the podcast market space and don't have to

760
00:41:24,320 --> 00:41:29,880
Speaker 5: pay the labels their share because we're doing original audio

761
00:41:29,920 --> 00:41:30,759
Speaker 5: with podcasts.

762
00:41:31,400 --> 00:41:32,279
Speaker 3: That means.

763
00:41:33,600 --> 00:41:36,000
Speaker 5: We don't have to pay the labels. We can collect

764
00:41:36,000 --> 00:41:40,200
Speaker 5: profits every quarter, which means our stockholders will invest more

765
00:41:40,239 --> 00:41:42,080
Speaker 5: money because they'll get a bigger dividend.

766
00:41:43,360 --> 00:41:44,279
Speaker 3: I think.

767
00:41:45,480 --> 00:41:49,279
Speaker 5: The war is starting not only between YouTube and sp

768
00:41:49,320 --> 00:41:55,240
Speaker 5: and Netflix, but it's YouTube and Netflix trying to figure

769
00:41:55,280 --> 00:41:59,480
Speaker 5: out how to take over the most listened to and

770
00:41:59,600 --> 00:42:02,600
Speaker 5: watch content in the world, which is podcasting. This goes

771
00:42:02,640 --> 00:42:07,360
Speaker 5: back to my vision for what my daughter is going

772
00:42:07,440 --> 00:42:10,359
Speaker 5: to do for her first job. They're betting ten years

773
00:42:10,360 --> 00:42:12,360
Speaker 5: down the line right now. They don't give a fuck

774
00:42:12,480 --> 00:42:15,200
Speaker 5: what show this is Netflix. They don't care what works

775
00:42:15,200 --> 00:42:19,320
Speaker 5: and what doesn't. That's why they're not negotiating with individual

776
00:42:19,320 --> 00:42:20,120
Speaker 5: shows right now.

777
00:42:21,160 --> 00:42:21,319
Speaker 3: Now.

778
00:42:21,360 --> 00:42:23,480
Speaker 5: I don't know what your conversation with Charlot Man was,

779
00:42:23,520 --> 00:42:28,640
Speaker 5: but he didn't negotiate that deal with Netflix, right I Heeart,

780
00:42:29,520 --> 00:42:31,440
Speaker 5: it was I Heart, it was saying iHeart.

781
00:42:31,600 --> 00:42:34,640
Speaker 3: The beneficiary was the sweet of iHeart podcast.

782
00:42:35,320 --> 00:42:39,800
Speaker 5: Keyword it's a sweet. I Heeart was approached by Netflix.

783
00:42:40,040 --> 00:42:42,560
Speaker 5: And now I'm I'm speculating. I don't really know if

784
00:42:42,600 --> 00:42:45,640
Speaker 5: this is how it works, but I'm using my better judgment.

785
00:42:46,960 --> 00:42:50,440
Speaker 5: I Heeart was approached by Netflix. Netflix came up with

786
00:42:50,520 --> 00:42:58,040
Speaker 5: a really beneficial situation for iHeart to take their podcasts

787
00:42:58,760 --> 00:43:02,239
Speaker 5: and put them on a platform like Netflix, not one

788
00:43:02,280 --> 00:43:05,640
Speaker 5: at a time, a suite of them. And we just

789
00:43:05,680 --> 00:43:09,840
Speaker 5: saw this recently happen with a competitor, Spotify, Bill Simmons

790
00:43:09,840 --> 00:43:14,360
Speaker 5: and The Ringer. They announced fourteen of I'm paraphrasing fourteen

791
00:43:14,440 --> 00:43:17,520
Speaker 5: of his shows. We're going to be the first offerings

792
00:43:17,560 --> 00:43:23,840
Speaker 5: from Spotify to Netflix for their partnership with Netflix. And

793
00:43:23,880 --> 00:43:27,000
Speaker 5: my first thought was, didn't they buy The Ringer from

794
00:43:27,040 --> 00:43:32,840
Speaker 5: Bill Simmons? So that means Bill Simmons didn't negotiate with Netflix.

795
00:43:32,840 --> 00:43:36,400
Speaker 5: I'm sure, he's pretty angry right now. I'm sure Spotify

796
00:43:36,440 --> 00:43:40,439
Speaker 5: gets all the upside of the Netflix deal. I'm sure

797
00:43:40,480 --> 00:43:44,360
Speaker 5: iHeart gets all the upside of the iHeart situation with

798
00:43:44,480 --> 00:43:48,239
Speaker 5: all their shows, and so what they're doing with.

799
00:43:48,400 --> 00:43:52,279
Speaker 3: iHeart doesn't own We talked about this downstairs breakfast club

800
00:43:52,320 --> 00:43:56,080
Speaker 3: is different because that's the iHeart entity. The individual shows

801
00:43:56,120 --> 00:43:59,719
Speaker 3: I don't notice for certain, but I know it.

802
00:44:00,000 --> 00:44:01,680
Speaker 5: What shows are you referencing? Just give me a couple

803
00:44:01,800 --> 00:44:04,919
Speaker 5: Joe and Jada. They own their own show.

804
00:44:05,560 --> 00:44:06,720
Speaker 3: They don't, I'm asking.

805
00:44:06,800 --> 00:44:07,920
Speaker 2: Yeah, So it's it's interesting.

806
00:44:08,239 --> 00:44:11,840
Speaker 1: Well, you know, no, I don't know, only because I

807
00:44:11,880 --> 00:44:13,120
Speaker 1: was on a phone of iHeart yesterday.

808
00:44:13,280 --> 00:44:14,480
Speaker 2: Ok. Yeah, I was literally.

809
00:44:14,200 --> 00:44:16,680
Speaker 5: Tell me I'm because I'm just expecting for it.

810
00:44:17,000 --> 00:44:19,239
Speaker 1: So a lot of what's changed is that what you're

811
00:44:19,239 --> 00:44:22,280
Speaker 1: talking about is one hundred percent correct. When podcasting started,

812
00:44:22,360 --> 00:44:25,120
Speaker 1: it was just the audio experience, and then a lot

813
00:44:25,160 --> 00:44:28,040
Speaker 1: of shows we had we started with it became a

814
00:44:28,120 --> 00:44:31,560
Speaker 1: video experience. In the original contracts, there is nothing for

815
00:44:31,600 --> 00:44:34,759
Speaker 1: the video right those are old old school contracts. So

816
00:44:34,800 --> 00:44:39,600
Speaker 1: now they've actually started putting language language. This guy's good

817
00:44:40,160 --> 00:44:42,520
Speaker 1: YouTube rights inside of the language of their contract or

818
00:44:42,600 --> 00:44:46,160
Speaker 1: video rights or video rights. So, now if you signed

819
00:44:46,440 --> 00:44:47,200
Speaker 1: a deal.

820
00:44:47,160 --> 00:44:49,359
Speaker 5: Like if I'm Joe and Jada in twenty twenty four,

821
00:44:49,400 --> 00:44:52,279
Speaker 5: I start my podcast, do you think I don't know

822
00:44:52,320 --> 00:44:53,239
Speaker 5: who they have a deal with.

823
00:44:53,120 --> 00:44:53,920
Speaker 2: But they have it, I don't know.

824
00:44:54,000 --> 00:44:56,440
Speaker 5: Yeah, let's just say they have a deal with some network.

825
00:44:56,840 --> 00:45:00,000
Speaker 5: Do you think that their deal didn't include video rights

826
00:45:00,120 --> 00:45:00,919
Speaker 5: twenty twenty four?

827
00:45:01,560 --> 00:45:04,479
Speaker 1: Yeah, and I'm sure it did because the language has changed,

828
00:45:04,520 --> 00:45:07,319
Speaker 1: even in negotiating contracts, and even with us, like in

829
00:45:07,360 --> 00:45:10,799
Speaker 1: our contracts, it was like, what's the matter, No, it's real,

830
00:45:10,840 --> 00:45:14,080
Speaker 1: these are real conversations. It was like, look, not something

831
00:45:14,120 --> 00:45:16,840
Speaker 1: that we're interested in, right, because we built this independently,

832
00:45:16,960 --> 00:45:19,960
Speaker 1: right of course, and so most people don't have a

833
00:45:20,080 --> 00:45:24,920
Speaker 1: video component of their pocket today's they do. Labels know that,

834
00:45:25,000 --> 00:45:28,720
Speaker 1: labels being the powers of corporation, corporations, and so now

835
00:45:28,960 --> 00:45:30,560
Speaker 1: it's in the contract, yes.

836
00:45:30,440 --> 00:45:32,160
Speaker 2: Right, so they'll throw a little bit more money.

837
00:45:31,920 --> 00:45:34,279
Speaker 3: In it when you say standard, oh, let's not just

838
00:45:34,360 --> 00:45:37,440
Speaker 3: yeahmy because we can't do that.

839
00:45:37,600 --> 00:45:41,520
Speaker 5: What's the matter you afraid of offending somebody? Can't we do?

840
00:45:41,640 --> 00:45:42,600
Speaker 5: What is going on here?

841
00:45:42,760 --> 00:45:44,920
Speaker 3: Anyone's contract saying that.

842
00:45:45,120 --> 00:45:47,400
Speaker 2: Ihearted and the Spotify's of the world offering.

843
00:45:47,440 --> 00:45:50,680
Speaker 3: Now I'm saying for us, we've never given up any

844
00:45:50,760 --> 00:45:53,479
Speaker 3: level of a video at all. So I just said,

845
00:45:53,719 --> 00:45:56,000
Speaker 3: but I know that there's other people eighty five South,

846
00:45:56,040 --> 00:45:57,240
Speaker 3: they never gave up their video.

847
00:45:58,560 --> 00:46:01,400
Speaker 1: So now think about when did they start. They started

848
00:46:01,440 --> 00:46:04,080
Speaker 1: along time, long time exactly. I'm talking about the new work.

849
00:46:03,960 --> 00:46:05,880
Speaker 3: Content people that's coming into the game right now, in

850
00:46:05,920 --> 00:46:07,920
Speaker 3: the past three or four years, that they're signing deals

851
00:46:07,960 --> 00:46:11,680
Speaker 3: off the rip. Yes, yes, that's giving up.

852
00:46:11,280 --> 00:46:13,359
Speaker 5: No, no, no, stop, don't ask the questions. So now

853
00:46:13,360 --> 00:46:15,600
Speaker 5: we're now we're gonna Now we're gonna sound crazy. You

854
00:46:15,680 --> 00:46:18,040
Speaker 5: know you're not gonna do this with me. Yes, they

855
00:46:18,080 --> 00:46:19,880
Speaker 5: are giving up their video rights.

856
00:46:19,680 --> 00:46:20,640
Speaker 3: Off the off the risk.

857
00:46:20,719 --> 00:46:22,080
Speaker 2: Yes, they don't have any yet.

858
00:46:22,239 --> 00:46:24,160
Speaker 5: No, because they want a bigger check.

859
00:46:24,400 --> 00:46:27,360
Speaker 2: That's that part too. And they haven't even experienced what

860
00:46:27,400 --> 00:46:28,080
Speaker 2: it is to be.

861
00:46:28,120 --> 00:46:30,520
Speaker 3: But they know that they're gonna It's not like YouTube

862
00:46:30,600 --> 00:46:33,600
Speaker 3: is a secret at this point. They know that video

863
00:46:33,680 --> 00:46:35,960
Speaker 3: is a major part. Probably more people might even watch

864
00:46:35,960 --> 00:46:37,160
Speaker 3: the video than they listen to the audio.

865
00:46:37,320 --> 00:46:38,040
Speaker 5: That is a fact.

866
00:46:38,040 --> 00:46:41,080
Speaker 1: Well who knows it better. They know, like you said,

867
00:46:41,080 --> 00:46:42,759
Speaker 1: they're looking at it. It's the same thing that you

868
00:46:42,760 --> 00:46:44,920
Speaker 1: said earlier. If they offer you one point two and

869
00:46:44,960 --> 00:46:47,359
Speaker 1: master Pizzo is just thirty years ago. If they offered

870
00:46:47,360 --> 00:46:48,760
Speaker 1: me one, I must be worth one hundred.

871
00:46:48,960 --> 00:46:49,359
Speaker 3: There you go.

872
00:46:49,480 --> 00:46:51,719
Speaker 1: They know if they offer you two million or ten

873
00:46:51,760 --> 00:46:54,000
Speaker 1: million for your video rights and your audio rights, they

874
00:46:54,000 --> 00:46:56,120
Speaker 1: know they're gonna make thirty off of it, right because

875
00:46:56,120 --> 00:46:56,319
Speaker 1: no one.

876
00:46:56,480 --> 00:46:58,320
Speaker 5: No one's investing to get their money.

877
00:46:58,080 --> 00:46:59,960
Speaker 2: Back, right, They're invested. Make the profit.

878
00:47:00,040 --> 00:47:04,600
Speaker 5: There's a margin. Here's the other thing, guys, we're playing

879
00:47:04,640 --> 00:47:07,960
Speaker 5: games here, we're playing semantics. Joe Rogan took his shit

880
00:47:08,040 --> 00:47:13,000
Speaker 5: off of YouTube for his check at Spotify and experimented

881
00:47:13,040 --> 00:47:18,040
Speaker 5: with his video on Spotify. That didn't work. Spotify has pivoted,

882
00:47:18,400 --> 00:47:20,640
Speaker 5: and now they cut a deal with Netflix so that

883
00:47:20,719 --> 00:47:23,520
Speaker 5: they could now take the video of all the podcasts

884
00:47:23,520 --> 00:47:27,680
Speaker 5: they either owner have exclusive licenses too, and maneuver those

885
00:47:27,800 --> 00:47:33,240
Speaker 5: video podcasts however the fuck they want. That's Spotify and Netflix.

886
00:47:33,719 --> 00:47:36,919
Speaker 5: What do you think is happening with Netflix and iHeart?

887
00:47:37,080 --> 00:47:41,080
Speaker 5: I think I'm just guessing Iheart's having trouble making money

888
00:47:41,719 --> 00:47:45,040
Speaker 5: on the audio side of all their businesses, terrestrial, radio, digital.

889
00:47:45,480 --> 00:47:49,080
Speaker 5: They don't know how to monetize it themselves. Yes, on

890
00:47:49,120 --> 00:47:52,680
Speaker 5: a passive ad revenue fill. Maybe they're filling thirty to

891
00:47:52,719 --> 00:47:55,799
Speaker 5: fifty percent of their ad inventory, but that's nothing. That's

892
00:47:55,920 --> 00:48:00,880
Speaker 5: low level mass corporate integration with products. They want to

893
00:48:00,920 --> 00:48:03,800
Speaker 5: see real money. They have to give over an asset

894
00:48:03,840 --> 00:48:08,080
Speaker 5: that is helping another company gain market share. What helps

895
00:48:08,560 --> 00:48:14,040
Speaker 5: market share when you could bundle up fifty shows, fifty

896
00:48:14,080 --> 00:48:17,200
Speaker 5: iHeart shows that have video components to it, and say,

897
00:48:17,520 --> 00:48:20,960
Speaker 5: all fifty of these are now property of Netflix. We're

898
00:48:21,000 --> 00:48:24,080
Speaker 5: going to take three of your eight episodes per show

899
00:48:24,520 --> 00:48:27,720
Speaker 5: and air it on Netflix. What happens with the creators.

900
00:48:27,360 --> 00:48:29,279
Speaker 3: Like, oh yay, I'm on Netflix.

901
00:48:30,080 --> 00:48:34,000
Speaker 5: But what really just happened is there was an enormous

902
00:48:34,320 --> 00:48:41,279
Speaker 5: acquisition between Netflix and iHeart. Netflix paid iHeart multiples of

903
00:48:41,320 --> 00:48:45,600
Speaker 5: the value of those vodcasts, so that iHeart actually had

904
00:48:45,680 --> 00:48:48,880
Speaker 5: a margin on these fifty shows that they've been investing

905
00:48:48,880 --> 00:48:52,239
Speaker 5: in for years, probably just making a small three to

906
00:48:52,280 --> 00:48:56,319
Speaker 5: five percent margin year over year. It's causting them brain

907
00:48:56,400 --> 00:48:58,719
Speaker 5: damage to deal with each of these artists. So what's

908
00:48:58,760 --> 00:49:00,880
Speaker 5: the one way they can go about or without having

909
00:49:00,920 --> 00:49:03,840
Speaker 5: to negotiate with each artist. You go to the Ihearts,

910
00:49:03,840 --> 00:49:06,280
Speaker 5: You go to Spotify's what do you guys have rights

911
00:49:06,320 --> 00:49:09,759
Speaker 5: to show? Me, show me a catalog. We want to

912
00:49:09,760 --> 00:49:13,200
Speaker 5: buy in bulk. In bulk, you get a deal, right

913
00:49:13,960 --> 00:49:16,840
Speaker 5: in any industry. Yeah, you buy one of something, you

914
00:49:16,880 --> 00:49:20,000
Speaker 5: pay premium, you buy fifty if something, you get a deal.

915
00:49:20,480 --> 00:49:21,480
Speaker 3: Both parties win.

916
00:49:21,960 --> 00:49:25,040
Speaker 5: In fact, I'm sure even the creators of the show's

917
00:49:25,080 --> 00:49:27,160
Speaker 5: got to bump in their salary. They had to get

918
00:49:27,200 --> 00:49:30,040
Speaker 5: an extra they bump in their salary.

919
00:49:29,960 --> 00:49:30,680
Speaker 3: Bumping this.

920
00:49:33,400 --> 00:49:34,480
Speaker 2: We don't know, but we would have.

921
00:49:36,800 --> 00:49:40,800
Speaker 5: I'm not saying I know anything, just saying they're getting

922
00:49:40,840 --> 00:49:41,960
Speaker 5: a bump in their pay.

923
00:49:42,080 --> 00:49:44,400
Speaker 3: So here's the question though, right because they didn't get

924
00:49:44,400 --> 00:49:45,600
Speaker 3: their own structured deal.

925
00:49:46,680 --> 00:49:50,400
Speaker 5: I would I would have to take a strong stance

926
00:49:50,480 --> 00:49:56,640
Speaker 5: on absolutely not. But that's my opinion. I'm probably wrong.

927
00:49:56,719 --> 00:49:58,400
Speaker 2: You could whatever, Yeah, you could be.

928
00:49:58,880 --> 00:49:59,360
Speaker 3: I'm wrong.

929
00:49:59,440 --> 00:50:01,600
Speaker 1: What you said factual in the sense that when you

930
00:50:01,680 --> 00:50:04,400
Speaker 1: offer a bundle, you're gonna get offered an amount. But

931
00:50:04,440 --> 00:50:07,120
Speaker 1: if you offer something singular, it's going to be premium.

932
00:50:07,360 --> 00:50:11,920
Speaker 1: So obviously you're debut is premium. This is premium.

933
00:50:11,960 --> 00:50:14,520
Speaker 5: We're top, we're super premium.

934
00:50:14,080 --> 00:50:14,720
Speaker 2: Super premium.

935
00:50:14,800 --> 00:50:18,879
Speaker 1: Right, Yes, so Netflix may come to you, maybe they don't,

936
00:50:18,920 --> 00:50:20,600
Speaker 1: I have we have business with netflik.

937
00:50:20,680 --> 00:50:22,520
Speaker 2: Yeah, so that's what I deal.

938
00:50:24,040 --> 00:50:25,280
Speaker 3: Here's the difference, Okay.

939
00:50:25,239 --> 00:50:27,680
Speaker 5: Because this is I just saw you posted a Netflix.

940
00:50:28,200 --> 00:50:30,680
Speaker 5: I posted something. I wanted to just show people the

941
00:50:30,760 --> 00:50:33,279
Speaker 5: Netflix logo on our show.

942
00:50:33,440 --> 00:50:35,200
Speaker 2: Promoting the upcoming events.

943
00:50:35,480 --> 00:50:39,960
Speaker 5: We were actually lucky enough to have the privilege to

944
00:50:40,000 --> 00:50:43,320
Speaker 5: talk about the new Jake Paul Anthony Joshua fight that's

945
00:50:43,840 --> 00:50:49,960
Speaker 5: December nineteenth, this Friday, on Netflix. And yeah, we weren't

946
00:50:50,000 --> 00:50:51,880
Speaker 5: part of these announcements of we're going to be putting

947
00:50:51,920 --> 00:50:54,279
Speaker 5: our content on Netflix. I love Netflix. I think they're

948
00:50:54,320 --> 00:51:00,200
Speaker 5: a great platform. I think they've captured our generation. I

949
00:51:00,239 --> 00:51:03,399
Speaker 5: think they're absolutely competition to any platform you could put

950
00:51:03,440 --> 00:51:08,040
Speaker 5: in the in the the air around them, and a

951
00:51:08,080 --> 00:51:11,560
Speaker 5: cultural staple that will not be going anywhere anytime soon.

952
00:51:13,160 --> 00:51:16,919
Speaker 3: What I think is genius that let me let me slow.

953
00:51:16,960 --> 00:51:20,279
Speaker 5: Now, we didn't do a deal where our content is

954
00:51:20,320 --> 00:51:24,520
Speaker 5: going to Netflix yet. Our deal that we did with

955
00:51:24,600 --> 00:51:30,120
Speaker 5: Netflix was it was like an advertising partnership. You know,

956
00:51:30,200 --> 00:51:33,120
Speaker 5: we have we have partnerships. It has nothing to do

957
00:51:33,160 --> 00:51:34,600
Speaker 5: with our content being on Netflix.

958
00:51:34,760 --> 00:51:37,840
Speaker 3: So it's just the content. Your content is not on Netflix. Netflix,

959
00:51:37,880 --> 00:51:39,120
Speaker 3: no at the logo on it.

960
00:51:39,200 --> 00:51:40,359
Speaker 5: Not yet, No, not yet.

961
00:51:40,480 --> 00:51:43,279
Speaker 3: So Netflix just put the logo on your show. Well,

962
00:51:43,320 --> 00:51:44,160
Speaker 3: you just have a second.

963
00:51:44,239 --> 00:51:47,640
Speaker 5: We we logo original integrations for.

964
00:51:47,760 --> 00:51:49,560
Speaker 3: Shows that it's a commercial. It's a commercial.

965
00:51:49,640 --> 00:51:50,680
Speaker 5: We're doing commercials.

966
00:51:50,840 --> 00:51:52,080
Speaker 3: You have a commercial for Netflix.

967
00:51:52,840 --> 00:51:55,479
Speaker 5: No, no, no, no, no, no, we did. Lower Third

968
00:51:55,600 --> 00:51:58,600
Speaker 5: is just one of the branded pieces of content. But

969
00:51:59,360 --> 00:52:03,040
Speaker 5: we didn't integration deal with them. Where when we agree

970
00:52:03,080 --> 00:52:05,920
Speaker 5: on an event or a show or a doc or

971
00:52:06,000 --> 00:52:09,480
Speaker 5: a movie that we both like and feel like reaches

972
00:52:10,280 --> 00:52:13,200
Speaker 5: an audience that can be impactful through our show, that

973
00:52:13,280 --> 00:52:16,600
Speaker 5: we do business together. That's not going to get any

974
00:52:16,680 --> 00:52:17,760
Speaker 5: deeper into the business.

975
00:52:17,800 --> 00:52:19,800
Speaker 3: No, but what does that mean you're running a commercice.

976
00:52:19,800 --> 00:52:22,680
Speaker 5: It means that that they that they talk to us individually,

977
00:52:22,920 --> 00:52:24,080
Speaker 5: they had they talked to me.

978
00:52:24,680 --> 00:52:26,600
Speaker 3: I get that part. I'm just saying on the Joe

979
00:52:26,680 --> 00:52:30,600
Speaker 3: Button podcast, right, Yeah, I have I see a Netflix

980
00:52:30,640 --> 00:52:33,520
Speaker 3: thing on there. Yes, the logo you mean the Netflix LOGOIX.

981
00:52:34,200 --> 00:52:35,840
Speaker 3: So you have like a five minute part of the

982
00:52:35,920 --> 00:52:37,840
Speaker 3: Joe Button pocat I think it was like twenty minutes

983
00:52:37,880 --> 00:52:40,120
Speaker 3: the other day. You're talking about the fight and we don't.

984
00:52:39,880 --> 00:52:41,799
Speaker 5: Have to do twenty Listen. I don't want to get

985
00:52:41,800 --> 00:52:44,680
Speaker 5: into the details of my deal structure. The point is

986
00:52:45,239 --> 00:52:50,160
Speaker 5: that we have a partnership with them. You just saw

987
00:52:50,200 --> 00:52:53,160
Speaker 5: a first iteration of it. It's us talking about the

988
00:52:53,360 --> 00:52:58,839
Speaker 5: Jake Paul Anthony Joshua fight that's exclusively on Netflix, and

989
00:52:59,120 --> 00:53:02,800
Speaker 5: that was the extent of it. Yeah, that's it for now.

990
00:53:02,680 --> 00:53:04,160
Speaker 3: But the content is not on Netflix.

991
00:53:04,239 --> 00:53:04,520
Speaker 5: No.

992
00:53:04,520 --> 00:53:09,320
Speaker 1: No, So that transition from then you spoke about it earlier,

993
00:53:09,320 --> 00:53:12,000
Speaker 1: in the transition from we're not doing ads to now

994
00:53:12,040 --> 00:53:13,040
Speaker 1: we are taking ads.

995
00:53:13,520 --> 00:53:17,479
Speaker 5: No, we're doing partnership partners partners do partnerships. Ads are like.

996
00:53:18,000 --> 00:53:26,320
Speaker 6: One off, like, hey this Friday, Look December nineteenth, catch

997
00:53:26,400 --> 00:53:29,640
Speaker 6: the Jake Paul Anthony Joshua fight only on Netflix.

998
00:53:29,800 --> 00:53:31,839
Speaker 5: I'm Joe Budden. We don't do that.

999
00:53:32,160 --> 00:53:36,240
Speaker 3: Don't have it. You have an integrated conversation that's organic. Yes,

1000
00:53:36,719 --> 00:53:42,080
Speaker 3: it's not just integrated. It's very much collaborative, interwoven. It's

1001
00:53:42,200 --> 00:53:44,799
Speaker 3: very interwoven. Good words.

1002
00:53:46,080 --> 00:53:46,360
Speaker 2: Right.

1003
00:53:46,480 --> 00:53:50,399
Speaker 5: We have a very bespoke situation with everyone we work with.

1004
00:53:51,080 --> 00:53:53,320
Speaker 1: Because before the Netflix I was thinking prize picks and

1005
00:53:53,320 --> 00:53:56,120
Speaker 1: the way that was done was very interwoven. And it

1006
00:53:56,200 --> 00:53:59,480
Speaker 1: makes me think of, especially for creators, how business begets

1007
00:53:59,480 --> 00:54:02,080
Speaker 1: more business right, And so if that relationship works, it's

1008
00:54:02,120 --> 00:54:04,360
Speaker 1: a proven modeling test to say look, we're good at

1009
00:54:04,440 --> 00:54:04,879
Speaker 1: doing this.

1010
00:54:05,640 --> 00:54:05,840
Speaker 2: You know.

1011
00:54:05,920 --> 00:54:09,000
Speaker 5: I know shows that have twenty five ad sponsors. I

1012
00:54:09,040 --> 00:54:10,120
Speaker 5: can't listen to their show.

1013
00:54:11,040 --> 00:54:11,600
Speaker 3: There's a lot.

1014
00:54:11,640 --> 00:54:14,000
Speaker 5: I mean, I would say ninety percent of the podcast

1015
00:54:14,040 --> 00:54:17,760
Speaker 5: out there now that choose to turn on stitched advertising

1016
00:54:17,960 --> 00:54:20,920
Speaker 5: or take on dozens of partners. I can't tell I

1017
00:54:20,960 --> 00:54:23,840
Speaker 5: know the show. I just can't tell you what products

1018
00:54:23,920 --> 00:54:28,080
Speaker 5: or businesses those shows are behind because they're flooded with bullshit.

1019
00:54:29,200 --> 00:54:34,880
Speaker 5: We went the other way. You don't see how little

1020
00:54:35,560 --> 00:54:38,400
Speaker 5: we shove down people's throats so that when we actually

1021
00:54:38,520 --> 00:54:40,480
Speaker 5: talk about something, you're going to know we believe in

1022
00:54:40,520 --> 00:54:43,560
Speaker 5: it and that it's an actual added layer of value

1023
00:54:43,600 --> 00:54:47,759
Speaker 5: to our listeners and viewers. You can be assured if

1024
00:54:47,760 --> 00:54:50,560
Speaker 5: we get behind something, it's because we believe in it.

1025
00:54:50,880 --> 00:54:55,719
Speaker 5: I've been offered every check from every business that you

1026
00:54:55,800 --> 00:54:58,479
Speaker 5: see on every other podcast, and we've turned it down

1027
00:54:59,560 --> 00:55:05,000
Speaker 5: because it's going to disrupt the experience. At some point, podcasters,

1028
00:55:05,160 --> 00:55:09,400
Speaker 5: media personalities, networks have to make a decision what's more important,

1029
00:55:09,560 --> 00:55:13,680
Speaker 5: what is more valuable the experience or this check today?

1030
00:55:14,640 --> 00:55:18,160
Speaker 5: And sometimes people miscalculate and they think the check, Oh,

1031
00:55:18,200 --> 00:55:20,680
Speaker 5: it'll help me make more money, it'll help me up

1032
00:55:20,680 --> 00:55:24,799
Speaker 5: my production. They're lying it's all ego driven. The truth is,

1033
00:55:26,000 --> 00:55:29,520
Speaker 5: if you can't keep the audience engaged and happy, eventually

1034
00:55:29,719 --> 00:55:32,560
Speaker 5: the audience getting upset and moving off your platform will

1035
00:55:32,560 --> 00:55:34,400
Speaker 5: cost you all the checks you're being offered.

1036
00:55:35,000 --> 00:55:39,319
Speaker 3: Well, you also deliver content differently too. Yes, your show

1037
00:55:39,360 --> 00:55:42,680
Speaker 3: is not based around guests. Yeah. No, the show has

1038
00:55:43,719 --> 00:55:47,279
Speaker 3: a revolving cast of characters. Yes it does, with no

1039
00:55:47,320 --> 00:55:52,479
Speaker 3: disrespect to anybody else. But let's just be honest. That's

1040
00:55:52,560 --> 00:55:53,960
Speaker 3: what happened. That's what happened.

1041
00:55:56,280 --> 00:55:58,000
Speaker 5: I agree with that, and I'm so grateful.

1042
00:55:58,080 --> 00:55:59,920
Speaker 3: But it's not like you locked in like you lock

1043
00:56:00,080 --> 00:56:03,760
Speaker 3: then to Joe Button and then the surrounding other people.

1044
00:56:04,520 --> 00:56:07,040
Speaker 3: It could be Mona one day, it could be Queen's flip,

1045
00:56:07,160 --> 00:56:09,560
Speaker 3: it could be Ish, it could be Roy Maury like

1046
00:56:09,880 --> 00:56:17,279
Speaker 3: they haven't No, no, huh, Maul and Roy did it. Well,

1047
00:56:17,320 --> 00:56:19,000
Speaker 3: you're saying in the totality of the show.

1048
00:56:19,760 --> 00:56:21,279
Speaker 5: Oh you're saying over the life of it.

1049
00:56:21,360 --> 00:56:23,080
Speaker 2: Oh yeah, yeah, Oh no.

1050
00:56:23,200 --> 00:56:24,799
Speaker 5: When you said Roy, I didn't know.

1051
00:56:26,880 --> 00:56:31,560
Speaker 1: Yeah, Roy Woods Junior and Rory Roy Jr.

1052
00:56:31,640 --> 00:56:33,719
Speaker 2: Is wild guy.

1053
00:56:34,360 --> 00:56:39,160
Speaker 3: Shout out to Maury Povich. But that's a that's a

1054
00:56:40,000 --> 00:56:41,680
Speaker 3: I don't think there's any other show that does that

1055
00:56:41,800 --> 00:56:44,320
Speaker 3: to my knowledge, that like a high profile.

1056
00:56:43,920 --> 00:56:47,000
Speaker 5: Where the SNL of twenty twenty five of this generation,

1057
00:56:47,120 --> 00:56:50,040
Speaker 5: where the the Office meets SNL.

1058
00:56:51,480 --> 00:56:53,279
Speaker 2: That's good where that's a good one.

1059
00:56:53,280 --> 00:56:56,080
Speaker 5: We put we're a platform, like we hope you use

1060
00:56:56,160 --> 00:56:57,759
Speaker 5: us and then go off and do your own thing.

1061
00:56:57,920 --> 00:57:00,200
Speaker 3: So that's that's the thing You're not You're not going

1062
00:57:00,239 --> 00:57:01,320
Speaker 3: to be here for forever.

1063
00:57:01,520 --> 00:57:02,600
Speaker 5: No, we will be here forever.

1064
00:57:03,360 --> 00:57:04,800
Speaker 3: I'm talking about the people.

1065
00:57:06,280 --> 00:57:09,600
Speaker 5: I don't think. So I hope. I hope people go

1066
00:57:09,640 --> 00:57:11,319
Speaker 5: off and do their own thing and then want to

1067
00:57:11,360 --> 00:57:16,560
Speaker 5: come back as like you saw that Eddie Murphy doc. Yeah,

1068
00:57:16,680 --> 00:57:19,360
Speaker 5: I loved it amazing, right, loved it so such an

1069
00:57:19,360 --> 00:57:23,040
Speaker 5: incredible piece of art. But like like that, where people

1070
00:57:23,160 --> 00:57:27,680
Speaker 5: are products of SNL, they go off do their own thing,

1071
00:57:27,800 --> 00:57:29,720
Speaker 5: and then it's like this big deal when they come

1072
00:57:29,800 --> 00:57:33,160
Speaker 5: revisit the set again and you know, do a monologue

1073
00:57:33,280 --> 00:57:38,400
Speaker 5: or like, I hope that's the long term play with

1074
00:57:38,640 --> 00:57:43,080
Speaker 5: what we're building is that we help people launch into

1075
00:57:43,480 --> 00:57:46,480
Speaker 5: all their best capabilities and then they look at us

1076
00:57:46,560 --> 00:57:49,919
Speaker 5: like we were this trampoline for them.

1077
00:57:50,320 --> 00:57:53,200
Speaker 3: Do they know that? You know? That was extremely insightful

1078
00:57:53,200 --> 00:57:55,640
Speaker 3: what you just said. As far as SNL, I'm wondering

1079
00:57:55,760 --> 00:57:56,439
Speaker 3: do they know.

1080
00:57:57,480 --> 00:58:01,960
Speaker 5: I want to come back they got to I don't

1081
00:58:02,000 --> 00:58:03,800
Speaker 5: think everyone wants to come back there for two years.

1082
00:58:03,800 --> 00:58:05,880
Speaker 3: I'm gonna do my thing. I'm gonna get busy. I

1083
00:58:05,920 --> 00:58:07,240
Speaker 3: don't know if they know that.

1084
00:58:07,880 --> 00:58:10,520
Speaker 5: Like I said, I think the industry has trained most

1085
00:58:10,600 --> 00:58:18,000
Speaker 5: of our talent and best creatives to hold on to

1086
00:58:18,160 --> 00:58:19,920
Speaker 5: things as tight as they can for as long as

1087
00:58:19,920 --> 00:58:24,240
Speaker 5: they can, because it represents security financially. The truth is

1088
00:58:25,720 --> 00:58:31,280
Speaker 5: everything's nothing's forever, and sometimes it's better to get what

1089
00:58:31,480 --> 00:58:35,800
Speaker 5: serves you best and then move forward and know that

1090
00:58:35,880 --> 00:58:39,240
Speaker 5: you did something special somewhere and you could always revisit.

1091
00:58:38,800 --> 00:58:42,080
Speaker 1: It, but a part of it is in ess now

1092
00:58:42,200 --> 00:58:44,000
Speaker 1: it would be is a good comparison. And I think

1093
00:58:44,000 --> 00:58:47,240
Speaker 1: about that, is that the grooming and the expectation like

1094
00:58:47,280 --> 00:58:49,960
Speaker 1: that's going to happen, right, So, like is that part

1095
00:58:50,000 --> 00:58:52,320
Speaker 1: of the process too, like you, I don't know. But

1096
00:58:52,360 --> 00:58:54,040
Speaker 1: there's not a writer's room for this, right like some

1097
00:58:54,080 --> 00:58:54,880
Speaker 1: of those writers, not.

1098
00:58:55,120 --> 00:58:57,160
Speaker 5: A traditional writer's room, but we do have like a

1099
00:58:57,160 --> 00:59:00,240
Speaker 5: whiteboard and you know, Corey, Corey can tell you like

1100
00:59:01,800 --> 00:59:06,840
Speaker 5: that's part of every episode is watching the cast go

1101
00:59:06,960 --> 00:59:09,720
Speaker 5: up to the whiteboard and show their contributions, and I've

1102
00:59:09,760 --> 00:59:11,960
Speaker 5: seen Joe and other cast members be like, Ah, that's

1103
00:59:12,000 --> 00:59:14,280
Speaker 5: not good, that's or that's really good. Let's do that

1104
00:59:14,320 --> 00:59:16,360
Speaker 5: at the top. Let's put this at the There is

1105
00:59:16,400 --> 00:59:19,080
Speaker 5: a process. Is it a traditional writers' room. Absolutely not.

1106
00:59:19,200 --> 00:59:21,960
Speaker 5: But there is a writer's room. Actually, it's just not

1107
00:59:22,400 --> 00:59:25,520
Speaker 5: the conventional way you would expect a writer's room.

1108
00:59:25,640 --> 00:59:26,040
Speaker 2: Yeah.

1109
00:59:26,160 --> 00:59:28,919
Speaker 1: I'm only referring to that in sense of like, yes,

1110
00:59:29,000 --> 00:59:32,080
Speaker 1: those people become cast members. Those cast members come in

1111
00:59:32,080 --> 00:59:34,200
Speaker 1: with the expectation like, this is the platform that's going

1112
00:59:34,280 --> 00:59:36,080
Speaker 1: to get me to the next piece. Right, not in

1113
00:59:36,120 --> 00:59:39,000
Speaker 1: a sense anymore in terms of SNL, but in that

1114
00:59:39,000 --> 00:59:40,880
Speaker 1: that piece for short in the eighties and the nineties

1115
00:59:40,960 --> 00:59:43,840
Speaker 1: was like, here's a launch board for me to now become.

1116
00:59:44,640 --> 00:59:46,880
Speaker 5: I think that's happening in real time. I think people

1117
00:59:46,880 --> 00:59:50,920
Speaker 5: are I think people are coming to that conclusion as

1118
00:59:50,960 --> 00:59:57,000
Speaker 5: they get more time and experience around us. And I

1119
00:59:57,000 --> 01:00:02,240
Speaker 5: really love seeing that that evolution, because there was there

1120
01:00:02,280 --> 01:00:05,040
Speaker 5: was a different kind of pressure on Joe and I

1121
01:00:05,080 --> 01:00:07,320
Speaker 5: when it was like everyone who comes here, this is

1122
01:00:07,360 --> 01:00:13,040
Speaker 5: their everything. That's it's like it's almost weird it's because

1123
01:00:13,320 --> 01:00:18,200
Speaker 5: most people in our industry are so reliant on money.

1124
01:00:18,480 --> 01:00:20,760
Speaker 5: That's all they're really focused on. And I'm not that

1125
01:00:20,840 --> 01:00:23,240
Speaker 5: this is not applicable to the current cast. I'm just

1126
01:00:23,240 --> 01:00:26,720
Speaker 5: saying in general, that's kind of the model that that

1127
01:00:26,720 --> 01:00:27,320
Speaker 5: that our.

1128
01:00:27,160 --> 01:00:29,600
Speaker 3: Business works on. And uh.

1129
01:00:31,000 --> 01:00:35,120
Speaker 5: Truly like I want everyone around us to soak up

1130
01:00:35,160 --> 01:00:39,480
Speaker 5: the things that we're doing, the good the failures. It's

1131
01:00:39,480 --> 01:00:41,880
Speaker 5: like growing up man, right, Like you have parents, and

1132
01:00:41,960 --> 01:00:46,480
Speaker 5: your parents you get one or two views of your parents.

1133
01:00:46,520 --> 01:00:49,240
Speaker 5: You get the things you want to replicate, the good stuff,

1134
01:00:49,600 --> 01:00:51,440
Speaker 5: and then you get the stuff that you don't like

1135
01:00:51,520 --> 01:00:53,680
Speaker 5: that they did. That you hope you take and say

1136
01:00:53,680 --> 01:00:57,520
Speaker 5: I won't repeat that with my kids or with my life.

1137
01:00:58,360 --> 01:01:00,920
Speaker 5: And I hope the cast and everyone that works with

1138
01:01:01,400 --> 01:01:04,880
Speaker 5: us does that for themselves because I want to see

1139
01:01:04,880 --> 01:01:07,360
Speaker 5: everyone go on. I can't wait for someone that's a

1140
01:01:07,400 --> 01:01:09,080
Speaker 5: part of the show to do something bigger than what

1141
01:01:09,120 --> 01:01:12,080
Speaker 5: we've done. That's going to be a hat tip to us.

1142
01:01:12,440 --> 01:01:16,520
Speaker 5: That's not a threat. That's a beautiful thing. I always

1143
01:01:16,520 --> 01:01:18,680
Speaker 5: said this. I like that everyone has moved on and

1144
01:01:19,320 --> 01:01:21,320
Speaker 5: that that is no longer with us and have their

1145
01:01:21,360 --> 01:01:24,800
Speaker 5: own shows, have their own business, have there it says

1146
01:01:24,840 --> 01:01:26,800
Speaker 5: a lot about what we provided.

1147
01:01:28,080 --> 01:01:30,160
Speaker 3: You know, do you think that there's any real value

1148
01:01:30,160 --> 01:01:33,480
Speaker 3: in podcasts? Oh? My god, the biggest not value as

1149
01:01:33,480 --> 01:01:36,560
Speaker 3: far as monetary I'm talking about. Yes, all right. I

1150
01:01:36,560 --> 01:01:39,680
Speaker 3: had a conversation with Jim Jones and I pretty much

1151
01:01:39,720 --> 01:01:41,600
Speaker 3: told them, now, I didn't. I think that hip hop

1152
01:01:41,680 --> 01:01:43,760
Speaker 3: was a very destructive force in our community for a

1153
01:01:43,840 --> 01:01:47,240
Speaker 3: very long period too paraphrasing. Yeah, and I think that

1154
01:01:47,320 --> 01:01:50,520
Speaker 3: podcasting is replacing hip hop where there's value in some

1155
01:01:50,720 --> 01:01:53,880
Speaker 3: in some love. I don't listen to podcasts, but the

1156
01:01:54,000 --> 01:01:57,440
Speaker 3: vast majority, in my opinion, is not helping. No, it's not.

1157
01:01:57,520 --> 01:02:02,360
Speaker 3: It's dumbing down society and it's not there's no value

1158
01:02:02,400 --> 01:02:02,680
Speaker 3: in it.

1159
01:02:05,360 --> 01:02:08,280
Speaker 5: Okay, This to me is something where I think I

1160
01:02:08,280 --> 01:02:12,640
Speaker 5: can relate it to music. It all depends on what

1161
01:02:12,680 --> 01:02:15,520
Speaker 5: you're looking for. If you want to hear dumb shit,

1162
01:02:16,280 --> 01:02:17,479
Speaker 5: there's dumb shit out there.

1163
01:02:17,400 --> 01:02:20,680
Speaker 3: But that's what's but the music. Once again, the music,

1164
01:02:20,760 --> 01:02:22,880
Speaker 3: I know, that's what gets promoted. That's what gets promoted.

1165
01:02:22,960 --> 01:02:28,960
Speaker 5: But hold on, I'm with you. But there's more optionality

1166
01:02:29,000 --> 01:02:33,360
Speaker 5: now than ever, more people picking up microphones, putting out

1167
01:02:33,400 --> 01:02:35,880
Speaker 5: their theories, their interests.

1168
01:02:36,240 --> 01:02:37,640
Speaker 3: It's not necessarily podcasts.

1169
01:02:37,680 --> 01:02:42,240
Speaker 5: I think that word is limiting to Okay, there's creators

1170
01:02:42,240 --> 01:02:48,280
Speaker 5: out there that are talking, making videos, and making original

1171
01:02:48,320 --> 01:02:52,040
Speaker 5: content about just about everything in the world, educate everything.

1172
01:02:52,240 --> 01:02:56,640
Speaker 5: Like for me, you guys were the first of a

1173
01:02:56,720 --> 01:03:03,720
Speaker 5: show that served educational food for thought in the financial

1174
01:03:03,720 --> 01:03:08,800
Speaker 5: space that I felt like was like Revolutionaries. It was

1175
01:03:09,000 --> 01:03:11,960
Speaker 5: the first of its kind where I was interested in it.

1176
01:03:12,000 --> 01:03:14,160
Speaker 5: Maybe it was your approach, maybe it was your tone,

1177
01:03:14,240 --> 01:03:16,439
Speaker 5: maybe it was your knowledge, maybe it was a mix

1178
01:03:16,480 --> 01:03:20,040
Speaker 5: of all of it, but I was actually interested to

1179
01:03:20,120 --> 01:03:23,040
Speaker 5: see how you guys were going to build and mold

1180
01:03:23,080 --> 01:03:26,400
Speaker 5: this thing the same way you guys popped out. I

1181
01:03:26,400 --> 01:03:29,760
Speaker 5: think there's dozens of other creators that offer really cool

1182
01:03:29,800 --> 01:03:33,400
Speaker 5: insight into everything, and yeah, ninety percent of it's going

1183
01:03:33,440 --> 01:03:37,919
Speaker 5: to be garbage, just like music, but I do think

1184
01:03:37,920 --> 01:03:41,840
Speaker 5: there's value in it. I think there's value in really educated,

1185
01:03:42,040 --> 01:03:44,840
Speaker 5: interested people that put time and energy into shit they

1186
01:03:44,880 --> 01:03:49,360
Speaker 5: love giving you a taste of their brain.

1187
01:03:49,640 --> 01:03:52,240
Speaker 3: But people really doing that, I feel like the vast

1188
01:03:52,320 --> 01:03:54,280
Speaker 3: majority of people were looking at like music. At a

1189
01:03:54,280 --> 01:03:56,840
Speaker 3: certain point, music stopped being a craft and it became

1190
01:03:56,880 --> 01:03:59,320
Speaker 3: a hustle. And it's like it was always going to

1191
01:03:59,320 --> 01:04:00,840
Speaker 3: be a hustle though, and it's like, ya, I could

1192
01:04:00,840 --> 01:04:03,640
Speaker 3: just get in front of a microphone just that ends.

1193
01:04:03,760 --> 01:04:06,120
Speaker 5: The first time they run into an obstacle, they're gone,

1194
01:04:06,360 --> 01:04:08,080
Speaker 5: So we don't have to worry about them. I'm saying,

1195
01:04:08,280 --> 01:04:10,440
Speaker 5: let's look at the people that are actually building catalog

1196
01:04:10,520 --> 01:04:13,280
Speaker 5: of interesting shit. If we focus on negative, we're going

1197
01:04:13,360 --> 01:04:16,040
Speaker 5: to find negative. It's like it's like with a relationship.

1198
01:04:16,080 --> 01:04:17,640
Speaker 5: You want to find something that's going to piss you

1199
01:04:17,680 --> 01:04:20,960
Speaker 5: off about your significant other. You look deep enough, you're

1200
01:04:21,000 --> 01:04:21,840
Speaker 5: going to find something.

1201
01:04:22,160 --> 01:04:26,680
Speaker 1: Yeah, you said once that the podcast space was a bubble.

1202
01:04:27,240 --> 01:04:29,800
Speaker 5: Is what a bubble? Oh yeah, it's popped already and

1203
01:04:29,880 --> 01:04:31,959
Speaker 5: it's pops. You're going to see a crumble right now.

1204
01:04:32,720 --> 01:04:33,600
Speaker 2: So that leads me to that.

1205
01:04:33,960 --> 01:04:37,160
Speaker 5: So yeah, if it's trumbling already right now.

1206
01:04:37,000 --> 01:04:39,880
Speaker 1: So then what rises to the top is that the value?

1207
01:04:40,040 --> 01:04:44,280
Speaker 1: Is it the creativity? Who are the subgenre of people

1208
01:04:44,320 --> 01:04:46,960
Speaker 1: that will rise. They're the ones who are the unicorns

1209
01:04:47,360 --> 01:04:49,439
Speaker 1: or the new creators out here that are about to come.

1210
01:04:49,920 --> 01:04:53,520
Speaker 5: It's the people who set themselves up for success. They

1211
01:04:53,560 --> 01:04:55,320
Speaker 5: could be right now. It could be the guy with

1212
01:04:55,360 --> 01:04:58,320
Speaker 5: a thousand views an episode, not a thousand subscribers, a

1213
01:04:58,400 --> 01:05:03,400
Speaker 5: thousand views an episode, but is genuinely putting in the

1214
01:05:03,400 --> 01:05:09,320
Speaker 5: investigative time, doing the research, giving you information that has value.

1215
01:05:09,840 --> 01:05:13,800
Speaker 5: Those people are going to rise, Those creators are gonna

1216
01:05:15,200 --> 01:05:20,560
Speaker 5: Those creators are going to succeed into the future. What

1217
01:05:20,680 --> 01:05:24,480
Speaker 5: has popped is the hustle for a quick back to

1218
01:05:24,600 --> 01:05:29,200
Speaker 5: me that is over because these big companies aren't interested

1219
01:05:29,240 --> 01:05:35,400
Speaker 5: in one show. They're interested in doing data digging, and

1220
01:05:35,440 --> 01:05:36,800
Speaker 5: the only way to do that is to go to

1221
01:05:36,960 --> 01:05:39,080
Speaker 5: like an iHeart er Spotify and go, hey, give me

1222
01:05:39,120 --> 01:05:43,880
Speaker 5: your fifty biggest shows, give me your one hundred biggest shows.

1223
01:05:43,560 --> 01:05:46,920
Speaker 5: Let's watch how this plays out for eight months to

1224
01:05:47,000 --> 01:05:50,040
Speaker 5: a year. We'll have all the information we need. After that,

1225
01:05:50,840 --> 01:05:53,640
Speaker 5: we'll cut everyone from the deal and we'll go sign

1226
01:05:53,680 --> 01:05:54,479
Speaker 5: the cream of the crop.

1227
01:05:55,440 --> 01:05:56,680
Speaker 3: And that's what I was.

1228
01:05:56,960 --> 01:05:57,480
Speaker 5: That's what I think.

1229
01:05:57,520 --> 01:06:02,520
Speaker 3: Kind of a friend of mine at a network and

1230
01:06:02,560 --> 01:06:04,440
Speaker 3: he was saying, like, people come to him like a

1231
01:06:04,480 --> 01:06:06,040
Speaker 3: lot of rappers and ask him like you know, and

1232
01:06:06,160 --> 01:06:08,440
Speaker 3: he's like, look, if this during the pandemic, I could

1233
01:06:08,480 --> 01:06:10,360
Speaker 3: have definitely gave you a million dollars. At one point,

1234
01:06:10,560 --> 01:06:12,560
Speaker 3: He's like, but the shit is different now, Like you know,

1235
01:06:12,960 --> 01:06:15,440
Speaker 3: money is drought up there's more saturated, like the money

1236
01:06:15,520 --> 01:06:17,560
Speaker 3: is not there, so now you have to bet on yourself.

1237
01:06:18,040 --> 01:06:20,160
Speaker 3: It's not even like you're out of luxury. I want

1238
01:06:20,200 --> 01:06:22,720
Speaker 3: to bet on myself because I believe myself, Like you

1239
01:06:22,800 --> 01:06:25,480
Speaker 3: have to bet on yourself because there's not the same

1240
01:06:26,280 --> 01:06:29,480
Speaker 3: money that's floating around as far as the advertising deals structure,

1241
01:06:29,520 --> 01:06:30,920
Speaker 3: So you can't even get a good deal if even

1242
01:06:30,920 --> 01:06:32,120
Speaker 3: if you want to a lot of these people.

1243
01:06:32,600 --> 01:06:33,960
Speaker 5: Let me give you a good analogy. I was just

1244
01:06:33,960 --> 01:06:36,240
Speaker 5: stucking to my barber the other day and this this

1245
01:06:36,440 --> 01:06:39,600
Speaker 5: was like great timing. Shout out to my barber, Brian.

1246
01:06:40,120 --> 01:06:41,840
Speaker 5: Him and I have really good talks when he comes

1247
01:06:41,880 --> 01:06:44,680
Speaker 5: to cut my hair. He was telling me about his

1248
01:06:44,720 --> 01:06:50,720
Speaker 5: barbershop that he owns. He has ten different barbers and

1249
01:06:50,760 --> 01:06:53,160
Speaker 5: his business is based off of two different things. And

1250
01:06:53,640 --> 01:06:57,040
Speaker 5: this immediately struck me as this is the podcast business.

1251
01:06:58,920 --> 01:07:02,920
Speaker 5: Two different forms of business. One is walkins people that

1252
01:07:03,040 --> 01:07:06,400
Speaker 5: walk off the street into the barbershop, and the other

1253
01:07:06,640 --> 01:07:10,600
Speaker 5: side of the business is each barber's book of business.

1254
01:07:11,480 --> 01:07:15,880
Speaker 5: Long term client tell that they build relationships with over time,

1255
01:07:17,120 --> 01:07:20,680
Speaker 5: and I thought, oh my god, that's podcasting. We have

1256
01:07:20,720 --> 01:07:23,400
Speaker 5: a bunch of people that have entered the space that

1257
01:07:23,480 --> 01:07:27,560
Speaker 5: are waiting for walkins, and those are the sponsors. Those

1258
01:07:27,560 --> 01:07:30,960
Speaker 5: are Spotify's and Netflix is coming with deals. And then

1259
01:07:31,000 --> 01:07:33,280
Speaker 5: you have the barbers that have been in the game

1260
01:07:33,320 --> 01:07:35,800
Speaker 5: for twenty years, that have three hundred people in their

1261
01:07:35,880 --> 01:07:41,080
Speaker 5: roll decks, that never miss a haircut every month. And

1262
01:07:41,240 --> 01:07:42,160
Speaker 5: when he was saying it to.

1263
01:07:42,120 --> 01:07:44,400
Speaker 3: Me, I was like, holy shit, that's podcasting.

1264
01:07:45,360 --> 01:07:48,280
Speaker 5: The people that you're seeing infiltrate the market now, they're

1265
01:07:48,320 --> 01:07:51,000
Speaker 5: here today and gone tomorrow. Those are the barbers waiting

1266
01:07:51,080 --> 01:07:54,360
Speaker 5: for the walkin. The people that answer your question that

1267
01:07:54,360 --> 01:07:57,200
Speaker 5: we're going to see when are the podcasts that have

1268
01:07:57,240 --> 01:08:00,160
Speaker 5: been building a roller decks and have been learning the

1269
01:08:00,200 --> 01:08:03,680
Speaker 5: business and are figuring out how they could survive whether

1270
01:08:03,880 --> 01:08:12,800
Speaker 5: there is rain, snow, pandemic, shut down, no ad money,

1271
01:08:13,280 --> 01:08:15,800
Speaker 5: They'll figure it out. That's who we're gonna see rise.

1272
01:08:16,240 --> 01:08:18,080
Speaker 5: And I just thought it was important because when he

1273
01:08:18,120 --> 01:08:19,960
Speaker 5: said it to me about his barbers, I was like,

1274
01:08:20,560 --> 01:08:22,439
Speaker 5: that's exactly how I feel about what's.

1275
01:08:22,240 --> 01:08:23,720
Speaker 3: Going on in podcasting right now.

1276
01:08:23,760 --> 01:08:27,400
Speaker 5: So I wanted to shout out Brian because that struck

1277
01:08:27,439 --> 01:08:29,519
Speaker 5: me like little things like that really resonate with me.

1278
01:08:29,680 --> 01:08:31,160
Speaker 3: You touched on it, but I saw you putting your

1279
01:08:31,160 --> 01:08:33,559
Speaker 3: story today, you said the deal number is not the

1280
01:08:33,600 --> 01:08:36,000
Speaker 3: real number. The real number is what they make off

1281
01:08:36,040 --> 01:08:39,040
Speaker 3: of you once they have your data. Here you go.

1282
01:08:39,960 --> 01:08:45,160
Speaker 5: That's self explanatory. We were talking about this before. The

1283
01:08:45,200 --> 01:08:48,040
Speaker 5: deal number is the number that you agree to to do.

1284
01:08:48,040 --> 01:08:49,160
Speaker 3: The work that's outlined.

1285
01:08:50,040 --> 01:08:56,200
Speaker 5: The real number is. It's two separate things. It's the

1286
01:08:56,280 --> 01:09:00,000
Speaker 5: money they make above and beyond what they pay you

1287
01:09:00,680 --> 01:09:04,400
Speaker 5: the company that hires you or does a licensing deal

1288
01:09:04,520 --> 01:09:08,280
Speaker 5: or acquisition deal with you. And then it's the money

1289
01:09:08,280 --> 01:09:11,160
Speaker 5: they make using the information that you provided them through

1290
01:09:11,160 --> 01:09:14,720
Speaker 5: your term to then resell to one hundred different companies

1291
01:09:15,360 --> 01:09:17,880
Speaker 5: to help those companies function in their businesses. And it

1292
01:09:17,880 --> 01:09:20,080
Speaker 5: could be products. They could be selling it off to

1293
01:09:21,680 --> 01:09:24,040
Speaker 5: hardware products, they could be selling companies. They could be

1294
01:09:24,080 --> 01:09:26,559
Speaker 5: selling it off to other streamers. They could be selling

1295
01:09:26,640 --> 01:09:31,280
Speaker 5: it off to other podcast businesses. Data centers. They recycle

1296
01:09:31,320 --> 01:09:34,760
Speaker 5: that data. That shit gets sold and flipped every month

1297
01:09:34,880 --> 01:09:37,880
Speaker 5: to one hundred different companies. That's where the real money is.

1298
01:09:38,840 --> 01:09:40,800
Speaker 5: You don't hear about all the data center I mean

1299
01:09:40,880 --> 01:09:44,680
Speaker 5: like this is where. Yes, data center infrastructure is a

1300
01:09:44,680 --> 01:09:48,559
Speaker 5: big deal in general, not just for forget podcasting, but

1301
01:09:48,840 --> 01:09:53,719
Speaker 5: data centers are important. Why because they the data centers

1302
01:09:53,840 --> 01:09:59,479
Speaker 5: provide information that give a blueprint to what consumers want

1303
01:09:59,600 --> 01:10:04,880
Speaker 5: and life. That's marketing, that's that's the easiest way into

1304
01:10:05,040 --> 01:10:10,200
Speaker 5: understanding human culture and human behavior. That's really where the

1305
01:10:10,280 --> 01:10:14,360
Speaker 5: value is understanding behavior behavioral science.

1306
01:10:14,400 --> 01:10:18,960
Speaker 1: That's a fact we talked about the Patreon piece. It's

1307
01:10:19,000 --> 01:10:21,599
Speaker 1: started as advisory. H And now that you said that

1308
01:10:21,560 --> 01:10:23,800
Speaker 1: that you know that your partner is there, I wonder

1309
01:10:23,880 --> 01:10:29,120
Speaker 1: when you guys look at the network as a totality, Yeah,

1310
01:10:29,160 --> 01:10:32,559
Speaker 1: are you interested in adding new talent or are you

1311
01:10:32,640 --> 01:10:34,879
Speaker 1: going with the route of we're going to create internal

1312
01:10:34,920 --> 01:10:37,360
Speaker 1: ip When we see like an Ian and Mark show

1313
01:10:37,400 --> 01:10:41,080
Speaker 1: and other shows, what is the strategy with the expansion

1314
01:10:41,120 --> 01:10:41,639
Speaker 1: of the network.

1315
01:10:42,520 --> 01:10:47,479
Speaker 5: Okay, so, uh what I what what Joe and I

1316
01:10:47,600 --> 01:10:50,240
Speaker 5: really honed in on was we have what we need

1317
01:10:50,360 --> 01:10:54,719
Speaker 5: right this second. Let's double and triple down on stuff

1318
01:10:54,720 --> 01:10:57,439
Speaker 5: that we could do in house. Which is the birth

1319
01:10:57,479 --> 01:11:01,840
Speaker 5: of Podwives, which which is you know, each of us

1320
01:11:01,880 --> 01:11:05,719
Speaker 5: that are on that show and our significant others fucking disaster.

1321
01:11:06,840 --> 01:11:09,200
Speaker 5: I mean, it's a successful show, but fucking disaster. I'll

1322
01:11:09,240 --> 01:11:13,880
Speaker 5: leave out why. And then there's the Ian and Mark Show,

1323
01:11:13,920 --> 01:11:22,240
Speaker 5: which is more like a sketch comedy show with me

1324
01:11:22,320 --> 01:11:26,000
Speaker 5: and Mark lemont Hill us getting in the way of

1325
01:11:26,040 --> 01:11:27,880
Speaker 5: trying to getting in the way of each other, trying

1326
01:11:27,880 --> 01:11:32,280
Speaker 5: to create a sitcom like that's the bottom line of it. Yeah, exactly.

1327
01:11:32,280 --> 01:11:36,080
Speaker 5: It's like an office feel, and what we decided to

1328
01:11:36,120 --> 01:11:39,840
Speaker 5: do was create these shows internally that work.

1329
01:11:39,920 --> 01:11:40,240
Speaker 3: First.

1330
01:11:40,320 --> 01:11:44,280
Speaker 5: Let's let's not let's stop reaching outward, let's stop outsourcing

1331
01:11:44,840 --> 01:11:47,120
Speaker 5: and bringing new people in, and let's see what we

1332
01:11:47,160 --> 01:11:50,559
Speaker 5: could do with the people we already have. And so

1333
01:11:50,800 --> 01:11:52,840
Speaker 5: that's phase one. Do I think we're going to get

1334
01:11:52,880 --> 01:11:56,600
Speaker 5: to a place where we're bringing in outside town to

1335
01:11:56,640 --> 01:11:59,400
Speaker 5: do one off projects or different shows. I do think

1336
01:11:59,439 --> 01:12:01,799
Speaker 5: that will happen eventually. I just know we're not rushing

1337
01:12:01,840 --> 01:12:05,879
Speaker 5: into it, you know, like there's no race to to quantity,

1338
01:12:05,920 --> 01:12:08,720
Speaker 5: there's race to quality. We could do a lot with

1339
01:12:08,760 --> 01:12:09,440
Speaker 5: a little.

1340
01:12:11,439 --> 01:12:14,720
Speaker 3: But okay, going forward in the future, looking forward in

1341
01:12:14,720 --> 01:12:20,760
Speaker 3: the future, Yeah, you obviously manage musicians. Yes, are you

1342
01:12:21,000 --> 01:12:23,120
Speaker 3: going to go into the space where you're going to

1343
01:12:23,160 --> 01:12:26,599
Speaker 3: be a consultant manager for podcasts? Mm hmm.

1344
01:12:27,560 --> 01:12:29,680
Speaker 5: I don't know what I'm going to do exactly. I've

1345
01:12:29,680 --> 01:12:30,360
Speaker 5: been offered.

1346
01:12:33,880 --> 01:12:34,519
Speaker 3: I don't need it.

1347
01:12:34,560 --> 01:12:37,960
Speaker 5: But I've been offered financing to like create a multi

1348
01:12:38,000 --> 01:12:40,680
Speaker 5: media management company at scale, like think about like a

1349
01:12:41,640 --> 01:12:43,320
Speaker 5: like a rock nation for.

1350
01:12:44,120 --> 01:12:48,640
Speaker 3: Podcasters, like a violator, like a violator. Yeah, well streamers

1351
01:12:48,640 --> 01:12:50,680
Speaker 3: and podcasts and content creators.

1352
01:12:50,800 --> 01:12:52,840
Speaker 5: Yeah, I've been I've been approached about that, and I've

1353
01:12:52,880 --> 01:12:57,160
Speaker 5: thought about that. Right now, I'm not interested in that.

1354
01:12:57,240 --> 01:13:01,320
Speaker 5: Right now, I'm focused on what I'm doing, and I

1355
01:13:01,439 --> 01:13:05,280
Speaker 5: like staying boutique. My partner Keep and I are, you know,

1356
01:13:05,600 --> 01:13:09,320
Speaker 5: step in step, just focused on on what we can

1357
01:13:10,200 --> 01:13:15,240
Speaker 5: focus on and build Today. A lot of times people

1358
01:13:15,320 --> 01:13:18,160
Speaker 5: drowning opportunity, and I don't want to do that. I'll

1359
01:13:18,160 --> 01:13:21,640
Speaker 5: always have the ability to expand, but I won't have

1360
01:13:21,680 --> 01:13:23,320
Speaker 5: the ability to recapture where I.

1361
01:13:23,280 --> 01:13:24,439
Speaker 3: Am in the moment right now.

1362
01:13:24,560 --> 01:13:26,240
Speaker 5: So I want to focus on it because I feel

1363
01:13:26,280 --> 01:13:30,680
Speaker 5: like it's historic and we're changing the landscape forever, and

1364
01:13:30,720 --> 01:13:31,880
Speaker 5: that takes all my attention.

1365
01:13:33,280 --> 01:13:34,800
Speaker 3: So yeah, maybe one day, but not.

1366
01:13:34,720 --> 01:13:35,360
Speaker 2: Now, I'll see it.

1367
01:13:35,760 --> 01:13:38,200
Speaker 1: We went through his whole interview, and as we were

1368
01:13:38,240 --> 01:13:42,719
Speaker 1: talking prior to this, I realized how integral DJ Premier

1369
01:13:42,880 --> 01:13:43,719
Speaker 1: was in this whole story.

1370
01:13:44,200 --> 01:13:45,120
Speaker 2: So I want to shout out the.

1371
01:13:45,760 --> 01:13:48,479
Speaker 5: DJ Premieer is the best ever Man, one of the

1372
01:13:48,520 --> 01:13:53,240
Speaker 5: greatest people on Earth first, the nicest guys and most

1373
01:13:53,439 --> 01:14:00,479
Speaker 5: iconic composers, producers, artists to ever Land on plans at Earth,

1374
01:14:00,560 --> 01:14:02,640
Speaker 5: and I am so grateful and lucky to be in

1375
01:14:02,680 --> 01:14:06,679
Speaker 5: his presence. Without him, none of this ship you parts.

1376
01:14:07,000 --> 01:14:10,599
Speaker 1: Yeah, obviously that you get to meet, that's everything.

1377
01:14:10,640 --> 01:14:13,400
Speaker 5: Well, well I should go back Pap Poose, the very

1378
01:14:13,400 --> 01:14:17,599
Speaker 5: first artist I ever managed. Prem saw me working with

1379
01:14:17,680 --> 01:14:21,360
Speaker 5: Pap and and that's how he reached out to have

1380
01:14:21,520 --> 01:14:24,479
Speaker 5: me start managing him. So I got perhaps blessing to

1381
01:14:24,520 --> 01:14:27,799
Speaker 5: go into that. So it's really without Pap, I wouldn't

1382
01:14:27,800 --> 01:14:32,640
Speaker 5: have Pream. But yes, Prem is like no pun intended,

1383
01:14:32,720 --> 01:14:36,719
Speaker 5: kicked in the door for everything else, you know, so incredible. Yes,

1384
01:14:36,840 --> 01:14:41,040
Speaker 5: and now the NAS album, it was Joe light Years see. Yeah,

1385
01:14:41,080 --> 01:14:42,800
Speaker 5: we worked that in with the family too. We got

1386
01:14:42,880 --> 01:14:47,040
Speaker 5: Joe in there for the exclusive interview. I'm very proud

1387
01:14:47,080 --> 01:14:50,840
Speaker 5: to play a role in getting the Nods and DJ

1388
01:14:50,920 --> 01:14:54,559
Speaker 5: premiere album out. Shout out Peter bitten Bender and Mass Appeal.

1389
01:14:56,320 --> 01:14:56,559
Speaker 3: Yeah.

1390
01:14:56,600 --> 01:14:59,280
Speaker 5: Man, we it's been an ongoing conversation for years. I've

1391
01:14:59,280 --> 01:15:02,400
Speaker 5: managed DJ here for fifteen years, and every year we

1392
01:15:02,479 --> 01:15:05,559
Speaker 5: talk about we talked about getting the NAS and preenbout

1393
01:15:05,640 --> 01:15:08,519
Speaker 5: Mount so to finally lock in about it a little

1394
01:15:08,560 --> 01:15:10,920
Speaker 5: over a year ago and start seeing the sessions come

1395
01:15:10,960 --> 01:15:13,759
Speaker 5: to life. I used to talk as a kid about

1396
01:15:13,760 --> 01:15:17,680
Speaker 5: how much I love NAS, and I'm lucky enough to

1397
01:15:17,680 --> 01:15:22,000
Speaker 5: say that we got one of the most mythical, desired

1398
01:15:22,080 --> 01:15:25,800
Speaker 5: hip hop projects in history out in the world. The

1399
01:15:25,800 --> 01:15:31,080
Speaker 5: album's called Light Years. Please listen to it, enjoy it,

1400
01:15:31,280 --> 01:15:34,599
Speaker 5: let it live with you, and I hope people like it.

1401
01:15:35,720 --> 01:15:39,320
Speaker 5: I appreciate you fellas.

1402
01:15:37,960 --> 01:15:38,880
Speaker 3: Appreciate you man.

1403
01:15:38,920 --> 01:15:43,360
Speaker 5: Hopefully we didn't upset anyone. That wasn't my intention. Get

1404
01:15:43,400 --> 01:15:44,480
Speaker 5: your business straight.

1405
01:15:46,120 --> 01:15:48,439
Speaker 3: All right, brother, I appreciate you man, Thank you, Thank

1406
01:15:48,479 --> 01:15:48,840
Speaker 3: you for.

1407
01:15:48,760 --> 01:15:55,400
Speaker 1: Having met so rab Yeah, Ernest, what's up? You ever

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1409
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1410
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1411
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1412
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1413
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1414
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Speaker 1: or even one of our merch partners. Square makes it

1415
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1422
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