SPEAKER_00: hey everybody hey everybody it is thursday oh we're gonna make it molly you and i just dragged

SPEAKER_01: me over to finish line cheers and then tonight we have to do our first appearance uh together in

SPEAKER_03: public at a private event uh but today we're gonna talk about a huge huge m a out of nowhere adobe

SPEAKER_05: is buying figma for 20 billion dollars billion this is like startup fairy tale right now we just

SPEAKER_06: get to play the full prince charming startup dream from start to finish we're gonna go from we're gonna do the seed investor multiples all the way to the acquisition uh it's delightful and then

SPEAKER_07: we're gonna talk about the justification for sorry to interrupt for the justification for this like so

SPEAKER_09: we go into the detail of how does adobe justify paying probably three or four hundred times

SPEAKER_06: revenue for this company it's a really totally startup founder when we ask you what happens when the incumbent builds the thing you're building we're going to give you the answer to that question also

SPEAKER_14: and then our guy lon harris is here for this week in streaming uh we're going to talk about the emmy wins we're talking about the layoffs general zod zloff is doing at warner brothers some new shows

SPEAKER_16: coming out that you should look for including the spotify story and blade runner 2099

SPEAKER_18: we'd love thursdays thursdays are the best it's gonna be a great show stick with us this week in

SPEAKER_20: startups is brought to you by linkedin marketing to redeem a free 100 linkedin ad credit and launch your first campaign go to linkedin.com slash this week in startups snack magic and swag magic are global gifting platforms and the most stress-free and customizable way to delight employees or customers get 10 cash back up to one thousand dollars until october 15th with code holiday and see more at snackmagic.com slash twist and the microsoft for startups founders hub helps all founders build a better startup at a lower cost from day one open to anyone with an idea you'll get up to one hundred and fifty thousand dollars in azure credits technical advisory access to mentors and experts free dev tools and so much more there is no funding requirement and it only takes minutes to join sign up today at aka.ms slash this week in startups all right so we've been doing series a

SPEAKER_06: and m&a but and since we have started that this is the biggest m&a news i think to come along that that actually just people are like so excited about and a massive exit adobe has agreed to acquire figma for 20 billion dollars according to bloomberg this would be i mean right this is like all that cash that they everybody's been piling up apparently adobe using its stimmies on figma 20 billion dollars according to bloomberg this would be the largest ever takeover of a private software company the market did not like it adobe's stock was down 18 adobe's market cap is currently 147 billion dollars um and adobe is reporting quarterly earnings for fiscal q3 today according to our guy alex wilhelm he noted the markup from its series a pitch book pegs the post money valuation of the figma series a

SPEAKER_25: at 48.3 million dollars and a juicy series a at that and that was a pretty juicy series a and here

SPEAKER_26: this makes for a 413x return at 20 million dollars just keep in mind if those returns did not take

SPEAKER_09: their pro rata in other words they didn't keep investing and they did five rounds which they did after that they did a b c d and e i think each of those rounds would dilute 10 you compound the 10 or even 20 you might have 50 of that so would net out to maybe a 200x return that means if you did put five million dollars in there you returned 200 times five million a billion dollars on a five

SPEAKER_35: million dollar investment it's a living it's a living it's a living and if you're fun we talk about fun size sometimes i just gotta pause and say as a podcasting moment mic drop it's a living it's a

SPEAKER_14: living now here now this would have come out of a 250 million dollar fund so the first 250 million would

SPEAKER_09: go to return the principal invested you'd have 750 million in gains from that fund just off this one investment let's assume all the other investments in the fund went to zero just a little back of the envelope math here 20 percent of 750 million 150 million for the partners five partners in the firm three partners well five partners in the front of that size uh five partners divided by 150 million

SPEAKER_03: 30 million each partner everybody's getting a plane everybody's getting a ski house let's go

SPEAKER_06: it's a living so what is i feel like we should do a little like what is figma and why'd they buy it

SPEAKER_03: figma is it's the software for creating mock-ups for ux and ui uh envision would be a contemporary

SPEAKER_14: so if you're designing something as a team your designers will make it in figma you can click on it so when i get a new version of inside when they do the job board at inside inside.com jobs they would send it to me in figma and we'd have conversations on it so it's collaboration around the production of web-based products iphone apps etc and then so people will do what's called

SPEAKER_08: user interface ui or you use that ux which stands for user experience you don't have to go all the way back to like level 100 here but anyway it's multiplayer is what you need to understand so you

SPEAKER_09: know how microsoft word single player you you edit the document you send everybody the document you get four copies of the document back you're like oh my god four different sets of edits yeah in figma

SPEAKER_52: it's live you're on the web you get a link you hit play and on your phone in the browser it looks like like the app so you can actually build an entire app in figma that's a click of what's called a

SPEAKER_09: clickable mock-up so then the ceo the sales team everybody can play with it and then you hold on it and you put a comment hey i don't understand why we're putting you know this piece of copy here shouldn't it say this then somebody else replies oh we had this discussion here's a link to our code and notion page where we discuss that but you can have discussions like you do in a google

SPEAKER_06: spreadsheet it's amazing and you can see why it should be the kind of thing that adobe this is sort of this is a classic disruptor story like adobe tried to build this with adobe express they you know people were like we want you to be more web-based the the idea of collaboration you know once google made that completely obvious and available to everybody with docs and sheets and all the different ways that you could collaborate in real time it was like unacceptable not to have that and when adobe tried to build it it just didn't you know when you're the incumbent you have a hard time like companies come to us all the time and say you know and i'm like and we say well what happens if uber just builds this or adobe builds it or apple does it or whatever and what they say is when you're the incumbent it's really hard to do this and we're just hoping they'd rather buy us than build it and

SPEAKER_25: this is an example of figma being right well and here's if you if you double click even one more

SPEAKER_14: time we call this the triple click so that was a great double click i'm gonna do another double click on your double click this grew virally now this is where network effects and virality and growth are so important so the answer typically to the question you pose the valley question what if uber does this what if microsoft does it what if adobe does it is well we have virality built into the product so we're going to grow so fast they won't be able to catch up and then we'll be the standard so because it was multiplayer mode just like in notion coda slack google docs you say at jason blah blah blah and it's like i click on the link and it's like you don't have an account if you want to reply to this comment log in with your google account log in with your twitter account whatever log in with your microsoft account that virality is what creates the gap now what adobe should have done was they should have made their version of this free f-r-e-e yeah yeah and that would be the way to do them who faced a similar challenge and made it free and one can you think of a situation where somebody had virality as a startup yeah they've won the day and then a bigger company made it free and screwed them and had so

SPEAKER_09: much headwinds that the company had to take drastic action i don't know what example you're thinking of

SPEAKER_06: but i sort of feel like it had to have been like apple or amazon microsoft right microsoft did oh

SPEAKER_61: microsoft teams versus slack all right they did that look at the whisper in the air so anyway thank you

SPEAKER_23: thanks nick remember slack it's like you guys are growing time i spent too much time i was just gonna say it's like you guys are one brain up in here so i mean somebody said at some point to slack

SPEAKER_09: what if microsoft gets in this game and it's like well they will and will have created i think they when they sold to salesforce it was 25 billion or 30 billion so you know even more than this sale and

SPEAKER_14: they had gone public but they just turned microsoft teams on for everybody which kind of makes you think the new antitrust is to make a product free and bundle it which is what microsoft always yeah

SPEAKER_09: bundling always a little reflect but how do you argue against bundling if you're giving something for free it's kind of hard because there's no consumer harm obviously it does it doesn't make competition go down no it makes the other people work harder to provide value so anyway i don't mean to be a big

SPEAKER_06: antitrust nerd but consumer harm is just generally reflected as higher prices but that's not like the statute so a big argument in the antitrust circle is saying like we got to measure consumer harm in a

SPEAKER_75: different way what does the lack of competition actually mean and then we're then we're stretching

SPEAKER_09: for like some alternative universe right now you're in alternative universe land like has microsoft

SPEAKER_52: made slack better of course it has microsoft teams made slack 10 times better that was like a kick in

Jason Calacanis: the ass they needed yep now they have to justify their resistance and i think slack is still winning

SPEAKER_09: but it's close right i think slack is still growing but i don't think people who use microsoft office or have what is microsoft 365 are going to embrace slack yeah just going to use teams because they're already logged in and it's there and people who are in zoom because zoom is going to launch a

SPEAKER_86: zoom team so what are they calling the zoom slack competitor that i had predicted communications or

SPEAKER_88: yeah i don't know zoom chat persistent chat will be coming to zoom team chat zoom team chat zoom yeah

SPEAKER_03: microsoft teams zoom teams they should call it zoom teams the end full stop but it's not free because

SPEAKER_09: it's part of a paid bundle molly so then how does antitrust look at that i know this is like super

SPEAKER_91: nuanced and we're in the weeds here no i love it yeah congratulations to uh figma i think a lot of

SPEAKER_93: they may handle seed investors how did they do because that must have been a what a 10 20 million

Jason Calacanis: dollars so the nick did the calculation for us index ventures led the seed at a 14.8 million dollar

SPEAKER_06: valuation uh so this is a 1351 x from the seed the total capital total invested capital in the seed round was 3.8 million dollars so if we're assuming that index did half of that as the lead or 1.9 million dollars times a thousand x that would be a 1.9 billion dollar return and i would i would cut it in

SPEAKER_14: half because this dilution dilution possibly but they're the type of firm that might actually take the pro rata every time but if they didn't take the pro rata it'd be a 500x and so you know these

SPEAKER_03: things do happen um yeah a thousand x is incredibly rare in a career so congratulations to anybody who you know joined the the one comma club in multiples i've been there myself and it's a wonderful place to

SPEAKER_09: be i hope to get there with one more in my career it's just a hard one to get to but if this is 20

SPEAKER_04: billion great story yeah adobe's making 5 billion how much is adobe making a year they make 4 billion

SPEAKER_106: a quarter or something like that there are 20 billion run rate so they're recording yeah q3 revenue was 4.4 billion dollars about 13 they've gotten clobbered um obviously post-pandemic stock drop but

SPEAKER_06: interestingly has only 5.7 billion dollars in cash and short-term investments so they can get cash from somebody they're taking on some debt maybe or they're doing stock i'm bet you they're going to

SPEAKER_14: do this because the stock is low right now it's half cash half perfect they can they can get a loan for

SPEAKER_09: that you know at a low interest rate from somebody yeah as low as it used to be uh and then they can

SPEAKER_03: yeah i think i guess they get a bond basically and then the other 10 percent means 10 billion and there are 150 billion market cap something in that range 100 143. okay yeah so you know it's not

SPEAKER_09: even 10 percent of that in stock this is the same as whatsapp everybody thought whatsapp was a stupid

SPEAKER_03: purchase uh because it was at the time was it 10 or 15 15 percent of facebook's value i think here's

SPEAKER_42: what i'll say this is a blocker strategy as well yes this is removing the existential threat if figma

SPEAKER_14: then started to make photoshop illustrator is adobe premiere yep premiere is a video editor so you know if figma is doing so well they go public maybe they start buying or building their own suite and

SPEAKER_119: they just go one two three down the rock the line because they were at the they were at the go public

SPEAKER_06: point at least like it seems like revenue and growth wise yeah 100 i wonder what their revenue

SPEAKER_100: was that would be good to get the multiple of revenue for figma i don't have figma's revenue that's

SPEAKER_09: it's not a public company right but i'm gonna take a guess at it right now uh last valuation if this

SPEAKER_03: helps you was 10 billion dollars okay so 10 billion they could have gotten a hundred times revenue which would have been a hundred million in revenue yeah uh they could have had 200 million in revenue and done 50 times so i'm gonna guess they got 50 to 100 times their top line revenue now that sounds crazy

SPEAKER_14: right to pay that much but if figma in any way would have destroyed revenue and market cap of adobe which it obviously was already was yeah already was then you just look at your market cap you're like well listen this is going to keep us from getting to a 250 billion dollar market cap take it out now we remove an existential threat so it's like a really easy layup of a decision even

SPEAKER_09: though if wall street doesn't like it you know you wouldn't like whatever adobe stock going sideways for the next five years or going down that would be a worse situation and if they bundle it with their product or they expose their existing user base to it uh maybe they could increase revenue 50 they could accelerate revenue 25 if they accelerate revenue 25 50 for the next three years well then that takes that multiple down doesn't it yeah so the multiple wouldn't seem as bad as it is so that's how that's what they call in the m a business having a thesis hey everybody i'm here with my pal

SPEAKER_131: tom eschbacher he is the senior sales manager at linkedin marketing solutions and today we're going to

SPEAKER_133: talk about marketing for startups and linkedin did a great new internal report called today in startup marketing welcome to the program tom thanks jason one of the main topics covered in the report is

SPEAKER_00: validating product market fit that's so essential so how does marketing play a role in validating pmf one

David Friedberg: of the challenges from the pandemic was it disrupted normal feedback loops that startups get and particularly when trying to scale assumptions based on small sample sizes you can't go to conferences anymore you can't do events and so we've seen a clever adoption of linkedin's free analytics tools here and one that's become table stakes and i mean 92 percent of series a startups are using it is the linkedin insight tag a feature here is the website demographics functionality that provides a valuable view on your site visitors professional attributes what's their job function their seniority level what company are they at the industry the company size this is all a bunch of actionable insight that you can use to back up your instincts around who your addressable market is and help inform early marketing strategies fantastic okay and so if you would like to get this incredible

SPEAKER_133: report you can go to linkedin.com slash this week in startups and not only can you get the report for free you're also going to get a hundred dollars off your first marketing campaign from tom at linkedin

SPEAKER_136: way to go tom so post-merger what's your thesis the post-merger thesis for youtube was what

SPEAKER_06: the post-merger thesis for youtube was youtube's gonna continue to grow and be something that gets us customer lock in and accounts we can distribute it i guess across our cloud and to every country

SPEAKER_119: because we're already in it they have the cloud then but yeah yeah well they had their own

SPEAKER_09: private network yeah the poker they had the private network so they said listen it's a youtube like we're buying this for 1.6 who cares like we're going to be able to send this we've already got

SPEAKER_04: google search working in a hundred right countries every time you search for anything you get a youtube

SPEAKER_12: video exactly the end instagram they were like hey list things out whatever it was 50 100 million users i think when they sold we got a billion we could just if we let them cross post their instagram

SPEAKER_09: to facebook we can get grandma and you know uncle joe and cousin bobby over to instagram so that's the thesis is like if we owned it what can we do to accelerate its growth and salesforce probably had a similar thing with slack hey if we owned it and we expose everybody who is in the salesforce group to it could we do more if we had our sales if we had our sales for sales team selling it would we be better than slack's existing team so those are the yeah what they call it machinations am i pronouncing that machinations yeah it's the machinations that the m a team and the ceo and the the bd the business team go through to justify paying a high price what if what if what if so they make a couple of scenarios and they say what are the chances of these three scenarios happening and that's something when you're building a company that you can work on to increase the sale price

SPEAKER_69: okay yeah you want to buy inside.com yeah it's a social network it's got 15 000 people on it but if

SPEAKER_09: it was owned by business insider or vox and you put all your your 500 journalists on it in addition to our 25 now you'd have 500 journalists participating they would each bring a thousand people

SPEAKER_14: now you'd have a half million people in the service so if jim bank off of vox were to buy inside.com that would be my pitch to him he's like you don't have a social network you've got 500 journalists put all 500 journalists on here have them start talking about their stories they all have twitter followings now you've got a social network that competes with linkedin for

SPEAKER_09: all these businesses that's pretty good yeah maybe i could talk did you just make that up oh i just

SPEAKER_81: made it off the top of my head but i always think about the acquire and what they would do it's i was just you should probably clip this and send that to him okay anyway somebody clip this

SPEAKER_69: and just bank off it hey at bank let's talk yeah overpay me for my startup let's go let's come

SPEAKER_157: on with that let's have some machinations over some theories yeah that was yeah that's a good pitch you should write that down for sure before we move on can i ask you a diligence question about

SPEAKER_158: yes sir yes sir so is it standard practice for the adobe team to cross-reference figma users with their own users to see how much upside they have in terms of like how much expansion can you really

SPEAKER_159: have if so much of the users are overlapping so this is a little touchy right because you don't want

SPEAKER_14: to expose your whole client list so what you would do is you would take a sample of them say who are

SPEAKER_09: your 10 biggest customers okay it's ibm okay and you you got microsoft you got apple great we have all those how many seats do you have at apple oh you've got 700 seats at apple we've got 7 000 okay great there sounds like the difference between 7 000 and 700 is 6 300 there's 6 300 people who we could probably just turn this on for and wow revenue comes pouring in so yes that does happen when we sold weblogs inc to jim bank off who was at aol at the time as an executive vice president they did look at engadget autoblog joystick and say who are the top advertisers oh samsung and you know at the time radio shack and uh thx and you know playstation whoever and they're like oh yeah we have them as advertisers too and

SPEAKER_03: it's like yeah we sold them a 250 000 like oh yeah we have them on a 25 million dollar a year deal

SPEAKER_14: so i was like okay and the and the theory for aol and bank off when they bought us was the aol tech channel and the auto channels are sold out we have no more inventory but we have a lot of users so if we just link to molly the top three stories on a gadget and autoblog every day we can take the ads and we make in gadget part of the aol tech ad buy we make autoblog part of the uh aol autos add buy you have better stories than us put the three stories there boom we ship them over there and brian alvey built blogsmith and it could scale and had like kind of cdn-ish kind of features and it was really good in terms of caching they would send us a half million people they had sold out the ads for a hundred dollar cpm all of a sudden boom fifty thousand dollars in

SPEAKER_09: ads in one day boom fifty thousand ads one day they bought the company for 30 million they immediately got us from three or four hundred thousand in revenue to five ten million in revenue like just year over year so their thesis was right we're sold out anyway everybody wants more

SPEAKER_106: impressions we need more inventory we have an infrastructure to turn this on yeah totally

SPEAKER_144: fascinating looks like surge dog um uh my guy cb yeah he says 21 revenue is 51 million i think i said

SPEAKER_119: 50 to 100 or 100. you sure did yeah uh so i said 50 million would be 20 times revenue right uh top line

SPEAKER_09: uh i'm sorry 100 million times 100 so maybe 2022 was looking like 100 million 100 times 100 is 10 probably yeah and they probably doubled it so they have it folks so now that would be 400x last year's revenue but you would look at the run rate so what happened last month they gotta have twice as much

SPEAKER_31: revenue so if that point in time they were doing 4 million a month they're probably doing 10 million

SPEAKER_42: a month now 20 million a month something like that so the the the multiple will come down but it's in that it's in the line of overpaying on a multiple and it being worth it as we just broke down all right

SPEAKER_06: well let's uh let's talk about a whole different thesis because there was like a another huge breaking news story yesterday late yesterday uh that we're gonna unpack today because it took us that long to wrap our heads around it reverse mna patagonia ceo dumps his company patagonia's founder is giving the company away to fight climate change so has effectively divested himself and his family from patagonia personally created a trust so that the profits of the company which he founded 50 years ago

SPEAKER_26: yvonne chouinard will go to fight climate change basically the guy who did that my people surf you

SPEAKER_172: see the guy who wrote that book let my people surf i don't know my people go surfing i think or

SPEAKER_03: something like that um this guy is like a baller he uh built this company he treats his employees incredibly well from what i understand i think they own it outright so they they own it outright so

SPEAKER_14: what they're doing essentially is similar to what gates did with the gates foundation except maybe for 100 percent instead of 50 percent or 51 percent of his net worth they put his holdings in a trust so every i think they make 100 million a year in profits they said uh yeah let my people surf

SPEAKER_03: guy 100 million in profits will go towards climate change or buying land that you know uh becomes

SPEAKER_176: protected spaces and a billion by the way they sell more than a billion dollars a year and i was

SPEAKER_37: talking about profits oh oh yeah sorry sorry i was talking about the profits they have a 10 percent profit

SPEAKER_14: 100 million a year right 100 million dollars a year buys a lot of acres yeah so i love this as a

SPEAKER_09: concept and i just immediately tweeted i'm gonna i'm literally my plan for this weekend is i want to get some more active wear anyway i'm exclusively shopping at patagonia for my active wear or whatever my needs are i'm literally i i've shopped there of course a couple times i love going to

SPEAKER_14: the stores i'm just going to be like my exclusive thing because i'm like wow if i shop there

SPEAKER_179: it goes to you know this i'm gonna nick says good snow pants i'm i'm all in great snow pants

SPEAKER_06: gray jackets 98 of his stock went into this non-profit which will be called the 98 percent they they they took some they donated their shares to a trust so they have to pay 17 and a half million dollars in taxes on that gift and then the other 90 of this of patagonia it's common shares go to this new non-profit called the hold fast collective which will as you said be the recipient of all the companies profits and use the funds to combat climate change it's a 501 c4 so it can make unlimited political contributions and it is not a tax write-off for the family the family is taking no tax benefit as a result of this so unlike the philanthropic and and i am not trying to suggest that the gates foundation doesn't do a lot of film you know great philanthropic work they get a tax it's also a tax break yeah and you know it's sort of in line with warren buffett saying like listen the bill i get isn't the i could pay more taxes of course and this is this family in addition to saying all of our profits are going to go toward you know fighting climate change as a philanthropic effort which is two percent of philanthropic giving right now fighting climate change two percent of global philanthropic giving is to fight climate change they're also saying it's

SPEAKER_186: not a it's not a tax dodge no it's not a tax dodge um it's a pretty remarkable bezos gave 10

SPEAKER_09: billion so you know bezos is 1.9 of that this is 0.5 like congratulations to people taking this

SPEAKER_03: seriously and i think i think the power move really for rich people is to buy land and preserve it and uh i know gates bought a lot of farmland but i think it's an investment but i also think it might

SPEAKER_189: be a preservation move as problematic that's yeah i don't know if you bought it through the gate i think

SPEAKER_03: you bought it personally not through the gates foundation is my understanding but i don't have enough information of that but i know other people have bought large swaths of land and they did this i remember when i was in new york around the hudson river they wanted the hudson river to get clean and they're like you know what we're gonna do is we're gonna do this hudson river watershed project i believe it was called and uh one of the kennedys and some other folks in new york just started raising money you know at uh parties in new york and they just went up and down the hudson and bought the the acreage around it well if you own all the acreage attached to the hudson well you can't dump

SPEAKER_09: refrigerators and oil and whatever toxins into there you know or runoff i think there was a point

SPEAKER_106: at which that mattered but i would also like we need green housing we need more we need financing for renewable energy projects like there's a lot more that can be done than just like taking land away

SPEAKER_194: from you know i just think it's like it's like it's a beautiful part of the solution over climate

SPEAKER_06: migration so if you intend if you have set up a trust that intends to make some of that land available for climate refugees sure great right why not like just so whatever i mean but if you look

SPEAKER_48: at what's happening in like the rainforests whatever i mean there's there's enough like we have enough land for people to live on we don't the amount of land isn't the problem it's like how we're using it

SPEAKER_09: and the zoning but i i think also these people buying what a lot of people are doing is now they're

SPEAKER_119: going to the farmers the people who are selling their land in the rainforest for wood they're not actually making that much money so going there and making our preempt or saying don't cut down the

SPEAKER_196: wood we'll just buy the land from you right great i mean you can use it like that's super cool too

SPEAKER_100: anyway i just i'm fascinated by this idea of buying forests uh and maintaining them yeah and sure housing

SPEAKER_197: is important too both of these things are true at the same time totally yeah anyway this is a housing

SPEAKER_199: thing is because of this nimby that's all my oh my god i'm not trying to derail us i'm just saying that

SPEAKER_06: like throughout all of his history private land ownership by the wealthy has produced issues well

SPEAKER_202: this is non-profits though earning it i'm talking about if it's if it's non-profits and the trust

SPEAKER_06: i'm just you know i'm just i'm just i'm just i wonder about the philanthropic solutions that we could think of like and i'm not that everything should happen i am an everybody in the pool girl

SPEAKER_14: you're a little bit cynical about it i understand you you don't you're wondering if people are abusing this is that my correct yes or it's the most optimal if i'm listening correctly is it the most

SPEAKER_37: optimal are people abusing it i guess are two valid concerns both of those are my questions right like

SPEAKER_06: i think like is it the most optimal i don't know because what we really need to do is get off fossil fuels so if you buy like a whole bunch of land to preserve but to take you know like i don't know

SPEAKER_100: it's a 50 50 buy some land and then i put up solar panels we're all good there we go i mean actually yeah actually yes right because and put a nuclear power plant in the middle buy the rainforest

SPEAKER_16: pop a nuke right in the middle nobody wants to live near a new

SPEAKER_119: if it's already cleared yeah listen they probably cleared a lot of it you just dump a nuke right in the middle of rainforest you run some now we're getting creative now we're getting creative here

SPEAKER_14: we go folks this there's a lot of memes that came out of this but the cousins won the day it really did i mean life imitating art is never gets old here's cousin greg well my grandpa gave my inheritance

SPEAKER_31: to greenpeace which is a pretty great moment in the show yeah greg is such a complex character

SPEAKER_215: he's such a buffoon also shout out to nicholas braun emmy nominated for best supporting actor in

SPEAKER_158: a drama series he got a nomination he did get nom and tom won for best support isn't wasn't that so

SPEAKER_35: tom won and greg and greg was nominated which was oh my god you know almost the only outcome to

SPEAKER_48: follow if you're gonna make a tomlet you're gonna have to crack a couple of gregs a couple of gregs i've got to break some gregs gotta break some gregs uh listen that makes total sense to me tom wise what's his last name wamsgans wags again oh he's the great he's the greatest yeah i just love both of these characters because they're the same person at different points in their career they're the same person greg's just naive but trying to be a shark and trying to navigate this

SPEAKER_14: and then tom is like he just immediately navigates this and there's so much more to talk about

SPEAKER_09: streaming so why don't we bring our good friend lon harris on to double down on streaming news

SPEAKER_133: welcome back to the program lon harris it's time for you to beat the holiday rush with snack magic and their new partner in crime swag magic yes snack magic and swag magic are a global gifting platform that i have used and loved it's stress-free and it's a customizable way for you to delight your employees and your customers all you need is the recipient's email you don't need their address what happens with snack magic is you take your hundred customers you love you take the hundred consultants you love and that you want to show customer love for or partner love for and what do you do you email them and then they get a little link that they click on and they can see thousands of curated snacks drinks office supplies and now branded swag options how annoying is it when somebody sends you swag that you don't like you throw it right in the garbage whether you want to delight one person or one thousand you can do it in the same amount of time boom you just put the email addresses into snack magic and they do all the work you can get 10 cash back on up to a thousand dollars until october

Chamath Palihapitiya: 15th with the code holiday holiday it would be so nice just see more at snackmagic.com twist snackmagic.com twist and use the promo code like madonna says holiday okay we got a lot to get through

SPEAKER_119: this we got i don't know what's going on every week this week in streaming becomes a docket that runneth

SPEAKER_26: over it's like it's a huge part of the economy or something well played i guess two out of my

SPEAKER_237: nine j trades are based on this thing um where do you want to start anymore we just make shows that's

SPEAKER_03: what oh and by the way this is lon harris you can follow l-o-n-s on twitter if you want to um get a

SPEAKER_156: nice mixture of you know full bernie krat plus it's really not a lot of bernie i really don't post

SPEAKER_241: a lot of bernie's i love like one bernie for every nine interesting insights it's it's you make it

SPEAKER_243: sound like i'm eugene v deb's over there and it's mostly about tv shows like it's me i was about to

SPEAKER_06: say 10 percent and then once in a while just like some full content awesomeness that i wish i said

SPEAKER_37: yeah he does do some full content stuff i i'm just giving that warning to the 17 contact rather listen

SPEAKER_249: if you're a wolf fan you're maybe not going to be into it my delightful my delightful good for you

Jason Calacanis: by the way okay where are we gonna go here though are we going emmys are we going jason's favorite movie

SPEAKER_45: blade runner like do we want to talk about zas a lot more murders almost as many murders as house

SPEAKER_253: of the dragon i mean there's that there's that goldman sachs conference that's going on this

SPEAKER_254: week so every streaming ceo has spoken there so we could go through all the stuff they're talking about they're arguing about how much hulu's worth and then backish is basically giving away that they're going to merge paramount plus and showtime fully at some point it's more at this point i think

SPEAKER_255: a when than an if and i already already started already bundle them yeah let's start with that

SPEAKER_257: that sounds interesting yeah what are the biggest headlines coming out of this so what is this

SPEAKER_250: conference uh goldman sachs they're having a conference i believe it's in la it's tech it's

SPEAKER_243: communication whatever it's one of those excuses for every ceo to get on stage and talk about how great they're doing and how good everything is going and how promising the future look and buy our stock exactly

SPEAKER_254: uh so the the biggest headline was the wall street journal earlier this week published a report that was basically within paramount global they're having a lot of discussions about dropping showtime as a freestanding streaming service and just roping it in as part of your paramount plus subscription there's already a bundle that's lower cost than i do so you can already get showtime content pulled in through paramount plus uh but this would just be dropping the showtime would become you know like

SPEAKER_243: how fx works with hulu it's a hub within this larger system not its own service that you have to add

SPEAKER_254: on yes please yes yeah it's oh well i mean we're seeing the the premium cable networks hbo epics stars

SPEAKER_243: like they're kind of in this weird in between place right now so all their parent companies are figuring out you know what the heck to do with them like epics were part of mgm stars is owned by lionsgate

SPEAKER_254: it's like they don't make enough content to live on their own and compete on their own

SPEAKER_243: but they make enough good stuff that it's not just throw away you know like there's value there because

SPEAKER_254: showtime has yellow jackets they've got that new dexter show they did that w kamau bell cosby special earlier this year that was really good like there's good showtime content there's just

SPEAKER_119: you know it's not enough no one's paying to get to 30 40 50 million subs i think becomes the issue and

SPEAKER_14: if you can get to i'm going to pick a number like if you can directly get to 30 40 50 million subs

SPEAKER_09: then maybe you deserve to be a standalone but if you get to 5 10 15 you know which is maybe where an fx or a showtime or like cinemax is that the other like next down the premium cable which really

SPEAKER_243: only has strike now cinemax is owned by hbo warner it's in that wb discovery so a lot of the cinemax

SPEAKER_273: shows are sort of being pulled into hbo max or that's where they'll live from now on but they

SPEAKER_14: don't want to be second fiddle to another peer brand is probably the issue so like having cinemax under hbo

SPEAKER_09: as like a logo or a channel does it actually mean anything to anybody i mean that's that's where you

SPEAKER_254: get into it becomes a brandy i mean i think the reason this hasn't already happened would be because they want people who still have cable to pay for showtime as a premium network that's not going away right just like hbo still exists technically as a cable network so does showtime and they're probably not going to get rid of that so that's the worry if we just start letting you watch dexter on paramount plus who's going to sign up for the cable showtime package but at this point i think that's that's becoming a minor enough concern that forget about it you can't you can't

SPEAKER_243: base your streaming future on legacy cable networks in 2022 one thing i've also noticed that i sort of

Jason Calacanis: want to ask you about is that there's a lot of deals a lot of deals on streaming services right now

SPEAKER_06: like i noticed that disney is offering a big discount for signups i think it was peacock is like sign up for a dollar like yeah between that and sort of this conversation about folding in the smaller

SPEAKER_201: you know networks yeah into what sort of sound like cable bundles like the competition is real out

SPEAKER_283: here it's very real and i think we're in the very last gasp of uh like maximize subscribers like at the

SPEAKER_254: same conference this gold goldman sachs conference gunner weidenfels the cfo of wb discovery uh he gave a presentation and he was talking about first of all every streaming service is underpriced in his opinion they all should raise their prices and the other thing he was saying is we're we're done with the era of all of these companies are giving away content for cheap to try to maximize subs we're now in turn them into a real business you gotta actually earn money you're not spending more than you're making and so i think that's what we're we're in this very last ditch effort to like let's sign up as many people as we can before the end of this quarter because after that we're tightening our

SPEAKER_273: belts and all this stuff is going away and we got to start focusing on maximizing revenue and profit

SPEAKER_09: that seems uniquely like a warner problem or challenge because they have 50 billion in debt when they put those companies together they have to service the debt if you're running a startup you

SPEAKER_287: know that every little bit of help counts between running your team building the product getting compliant hiring people studying customer support everything it's overwhelming i know that i work with y'all every day but the microsoft for startups founders hub is here to help you they're going to help you build a better startup from day one whether you're plugged into silicon valley or not the microsoft for startup founders hub is a digital platform created by founders for founders and they give you amazing benefits the first one right off the bat unbelievable up to a hundred fifty thousand dollars in azure credits and then one to one technical advisory on scalability best practices security your tech stack all that stuff and you get access to a huge mentor network plus free dev tools like github enterprise access to partners like open ai bubble and others free microsoft software including outlook and teams and much much more the program is open to everyone there's no fundraising requirements you don't need to know somebody they want to support all founders it takes just five minutes to apply and startups get all these massive benefits immediately so learn more and sign up for microsoft for startups founders hub today at you're going to write this down right now stop what you're doing get a pen get a paper aka.ms this week in startups that's simple aka.ms

SPEAKER_119: this week in startups and as we've seen they've been doing cuts and general zavzoff has been coming in layouts to the ad team just this week beautiful this is what general zavzoff has to do he has to come in and

SPEAKER_293: bow before zavzoff the big deal he's the heavy this is what he's got to do let's go to this guy

SPEAKER_295: who doesn't even wait until the glow is off of the hbo emmy wins to get the whole being that he

SPEAKER_119: fired people this is my hope molly i hope while people were at the emmys that's when he did the

SPEAKER_299: lamps during the emmys they get back from the emmys they got a pink slip let's go these were ad

SPEAKER_253: salespeople so it wasn't it wasn't like he was gene smart didn't get a pink slip from hacks when she got home from the emmys i love that show keep going keep going great what is that what

SPEAKER_254: did zod do now general zada uh i don't do it i mean that was that was the big wbd story this week was they're probably probably gonna raise the prices on hbo plus and discovery plus if they feel like they're severely underpriced uh i believe chapek said that about disney plus two that he feels that

SPEAKER_308: they're that was their strategy didn't they come out at seven six or seven dollars that was absurd

SPEAKER_254: yes they they came out in an absurdly low one and now they're going to raise it because the ad the ad package is coming out so for 7.99 a month you'll be able to get disney plus but it will have ads you'll have to go up to 10.99 a month ad free who's not spending i mean i think yeah i think three dollars more for new ads i think people are gonna be 15 dollars without ads 15 right well that's

SPEAKER_312: what chapik was basically saying this week is it's still underpriced and it'll probably what does it

SPEAKER_14: cost to go to movies for the average what is it i mean i know for me i go to the movies at a fancy dancy place because i think 18 a ticket for these i mean in la yeah it's 12 to 15. it's always right

SPEAKER_254: just for the ticket and then you know everything else is on top i think the cost of one movie ticket

SPEAKER_318: would makes it easily justifiable well sure if a movie tickets 12 to 15 that's easily justifiable

SPEAKER_319: especially if you're talking about a service that you're watching a lot of things on

SPEAKER_254: per month i mean there are there are those services like i've been saying you know paramount plus or even disney where there's a few shows at a time that are sort of must-sees apple it's a more curated thing but if you're on amazon or you're a peacock or you're on netflix they're coming this new stuff

SPEAKER_06: all the time they're throwing it at you constantly and i think as they consolidate that's where we're going to see the ability to raise prices like right now the thing is that they're you know whatever i've got six or however many i have i don't even know i'm not paying 15 bucks for each of them that will cause me to to go full uh general zod on my streaming service subscriptions you know but um but if it gets to the point where it's just three or four like it was like i think the

SPEAKER_119: breaking point is when people see 20 bucks i think you have to think about it at 20. i think when

SPEAKER_09: you're 15 and under it's a no you don't even think about it that's my position and i think the seven

SPEAKER_03: dollar one brings in people who let's just to use a term are you know uh maybe the bottom third of earners in the country you know like because they might actually care about 15. i think you look at

SPEAKER_09: also like an hour of labor too that's how i used to look at the world is i would look at the world of how many hours do i have to work at 350 an hour to afford what i was going to do and it was like

SPEAKER_254: okay i think there's an interesting there is something beyond price too where there's just like fatigue at the idea of having to have all of these services like exactly you hear that a lot from people where it's like the idea behind streaming was supposed to be different from cable and we didn't need to have everybody's services it was just one or two things that we could find everything there and so i think there is just like we used to see uh when when in inside was apps for your phone we would get amazing reviews people loved our apps but then it would be like but would you install this on your phone and they'd be like no i have enough

SPEAKER_253: apps i don't want any more not one more app on my phone or they install it and sign up and then don't

SPEAKER_119: use it which is always soul crushing you're like oh my god five stars but i don't open it every day

SPEAKER_309: it's gonna be great mental barrier like you you just feel like that's too many apps i don't want

SPEAKER_254: that many apps on my phone and i feel like people feel that same way like that's too many services i

SPEAKER_295: don't want to have that many services they already feel that way you can't like you don't know what

SPEAKER_06: things are on it's going to be great when one overarching service comes in and says hey let me offer you like a bundle of all of these channels for one monthly cost and then you'll just be able to search across you could have a guide and it would show you like which channel things are on there everybody that would be like somebody i use to try to make this work like that now i actually use roku like i do like as though my streaming services are my cable subscription oh it consolidates them all in a menu nicely yeah it does and it's searchable so like now i just go to you know i have my roku tv i go to the home screen i search for whatever show lon told me to watch because i have no idea what service it's on which by the way this was it up and is like it's on netflix

SPEAKER_14: boop and i'm like by the way with steve jobs vision for this was you just use siri you say what you want and it comes up when you are using the apple remote there's a thing called apple tv not

SPEAKER_09: confusing at all and what that does is it doesn't take you to apple tv plus to see tetlaso no it takes

SPEAKER_119: you to a service that is supposed to be uh a consolidation of every title yeah the hub they call it

SPEAKER_254: the hub right now and everybody's trying to get apple called everything like just watch it there's there's tons of these new apps and services come up all the time they're trying to do this roku and

SPEAKER_14: apple are probably the closest to anybody when you do it on apple you now in the settings you it's so confusing because you either go to apple hub tv apple tv hub or you can reprogram that button on your remote to go to your home screen where you have your apps and you can pick the individual hbo app

SPEAKER_119: so if you go to hub molly and you say you have to reprogram it to do the thing that you want to do

SPEAKER_09: exactly yeah i want to go i want to it turns out the dedicated app for hbo is a great experience i want to be in that app um i don't want to be in hulu watching hbo i want to go in the hbo one because it has like all the um extras and stuff like that nicely neatly laid out so that this is where

SPEAKER_54: like it's kind of happening but it's just wildly confusing right yeah and i think there there's

SPEAKER_254: just a there's just a tendency about people to feel like well i have three services it doesn't matter how great this fourth one is it doesn't matter how cheap it is i'm at my limit just exactly i'm at

SPEAKER_253: my limit confusing i'm not i'm not in the market for a new streaming service right now with cars

Jason Calacanis: it's the choices problem like we have too many choices and so we just start to like simplify

SPEAKER_254: simplify like i just want this like peacock and paramount plus like i do feel like on some level that's what's happening it's not that they're that much worse than these other services it's just people already had three or four and they were like i'm good i don't need it i'm fine i literally

SPEAKER_363: want to get like a beater up jeep to take on the beach and stuff like that and in the snow at tahoe

SPEAKER_09: whatever and i've really wanted to get a corvette you know haven't had one for over a decade um and for me it's just like with cars i'm like you know i got three cars it's just enough it's enough already with the maintenance with the tires i can only drive one at a time i'm only driving 50 miles a week

SPEAKER_76: now 100 miles a week it's like this makes no difference in my life for for you it's cars for most people

SPEAKER_04: it's streaming stuff i'm talking about getting a pair of jeans like i already have two no i'm talking about like a beat up i want to get like a 15 grand cheaper angle that's 10 years old that i just beat on and i just the a camping car the registering of it it's like my car keeping the

SPEAKER_372: tires right like most people's vehicle that's just that's just my i have i have that obsession

SPEAKER_06: though like with like a 2005 uh bmw x5 that's like the camping car i totally want to buy okay let's move on to uh blade runner shall we we got blade runner we got a new show to watch uh not just blade runner we also have a show about spotify let's talk about upcoming tv blade runner 2099 was green

SPEAKER_375: lighted did we say green lighted or green lit i usually say green lit but either is i like green

SPEAKER_376: lit because it's short like green lit trade will use either one so punchy all right well it was green

SPEAKER_06: lit by amazon nick just changed it in real time because that's how on the ball he is with because amazon is signaling that they plan to continue to spend crap tons of money on awesome stuff ridley

SPEAKER_201: scott executive producing a series right this is not a this is not a movie it's a series and it's

SPEAKER_319: a follow-up to blade runner 2049 animated series last year this is the first ever live action was that called lotus or something black lotus black lotus yeah it was okay it was okay dang so yes this

SPEAKER_106: is uh totally in line this is a follow-up to blade runner 2049 which of course came out in 2017 and

SPEAKER_06: it's in line with amazon really like picking its shots right like not no spray and pray here they're

SPEAKER_385: going full lord of the rings there's no word on budget but yeah but the thing about blade runner

SPEAKER_254: that's so amazing is it it like we've they've had so many at bats and we know that this is a niche thing like the people who love it love it and obsess over it and will watch it eight times and buy the tie-in novel and the art of blade runner book and they'll get the blu-ray but there's just not that

SPEAKER_387: many of them and like i'm saying i'm sitting right here alan i mean i'm one of them too but like

SPEAKER_253: because when villeneuve uh who did blade runner 2049 his next big project was dune and people were

SPEAKER_254: like oh man it's gonna be the same thing it's another one of these niche sci-fi properties but that one was a big hit so it does look like it's blade runner just has a there's a limited

SPEAKER_390: audience got a core audience of yeah whatever tens of millions of people not a hundred million who

SPEAKER_391: right it's not a game of thrones or or lord of the rings right from the next year down because

SPEAKER_06: let's face it it's intelligent and so are you so are you saying you you you doubt this choice you're not so sure about this i mean lord of the rings also you know same thing right like niche geek

SPEAKER_397: i love it i'm super pumped i can't wait for this show i mean i liked ridley scott's other big

SPEAKER_254: expensive show nobody watched raised by wolves i was the only one who was into that yeah i couldn't get through it so right so i'm i'm i know i'm in it's just to me i don't think the the breakout potential of a blade runner series strikes me as like limited i just i just know there's a lot of people that have that like it's it's a little slow it's a little cerebral it's not for everybody

SPEAKER_25: and like it has its fans but yeah i don't know what does that say about amazon's choices that because that's where the money's going right is these big kind somewhat limited well i would

SPEAKER_250: imagine this one's going to be cheaper than rings of power it'll happen it's going to be yes definitely

SPEAKER_254: scaled down from that right i mean i don't know like you could do it you could do a cheaper like obviously there's expensive you got to build future los angeles and you know like there's there's

SPEAKER_273: action but i you could probably rein in a blade runner project more than like epic fantasy

SPEAKER_03: i would do this if molly if you're asking about amazon strategy i think the strategy is executives

SPEAKER_09: getting to go to premieres and for employees to feel great about amazon yep uh so don't get attached instead of buying ads on tv shows just buy the tv show and it's an ad for amazon because you put the logo on the front yeah so you could i know this sounds crazy but what's what's an underserviced fan genre that feels ignored that has i don't know 25 50 million people in it is there some show like what

SPEAKER_254: were the shows that you guys the expense was the expanse was the expanse the key example like that's he's already done that where he came in swooped in saved the niche show that had a die hard but not very

SPEAKER_09: big audience perfect way to make people feel good about amazon the brand the company the institution make a little bit of money off of it and if it loses a little bit it makes a little bit it just draws people into the orbit of amazon and it makes people have an affinity for amazon so you're adjacent to buying stuff on amazon cloud computing amazon basics uh whole foods it just makes people feel

SPEAKER_12: good about the brand i look at it in a way as like monetized marketing we can't stop really it's a

SPEAKER_06: good observation and it it kind of um it's like amazon internalized the lessons of comic-con right and the lessons of fandom yeah and the importance of in a way that netflix hasn't right if you're just like spraying prey populist fair then you have people who might just default to you because it's there and there's a lot on it but you don't have the love like fan you know fandom is a powerful thing it creates the the internet army that protects you throughout your you know existence it's what people line up for at hall h at comic-con like i do think that amazon seems to understand that in that love can be more powerful than numbers it's like the podcasting game and there i mean there is a personal

SPEAKER_243: touch to this too like we mentioned the expanse jeff bezos a big outspoken fan of those novels

SPEAKER_283: yeah when they bought the show was like i love this series i love these books what do you think i

SPEAKER_16: would be doing if i was in his shoes i'd be like let's go gladiator the series black hawk down the series right uh blade runner the series i would be like so totally i think he's just a hundred million

SPEAKER_25: dollar bag out the window but this is why i'm saying don't get attached to these shows because he's

SPEAKER_423: gone now friends and aws is jassy's bag so don't don't get too comfortable with amazon's media as

SPEAKER_16: predicted by us amanda seyfried is that he afraid one for her elizabeth holmes portrayal congratulations

SPEAKER_236: so amazing congratulations and that dance she did

SPEAKER_427: yeah awkward asperger's robot that is that robot dance is what went with her headphones in and she's

SPEAKER_431: trying to like what was the guy's name god it's amazing who's her number two who's going to go for

SPEAKER_434: longer than her sonny or when she does the equivalent of a lap dance for sunny balani to try to make him

SPEAKER_440: like with the smoothie with the smoothie it's like this is the least sexy thing i've ever seen like i'm trying i'm trying to give her the better let her have her moment of being desirable on screen and it was just like i don't think that was the plan i'm feeling nauseous it's just well now coming closer

SPEAKER_445: to me and now we have a new show now we have a new as predicted that's what that was thank you for

SPEAKER_446: getting the signature right thank you for the segue i was trying to key up the segment give it let's

SPEAKER_423: go drop you to get there man i know i gotta jump ahead we're on time as predicted though the tech

SPEAKER_78: industry is the new uh it's the ip of the future and it's like the marvel universe it's like the marvel universe lon alerted us to a fictionalized series about spotify called the playlist from sweden this

SPEAKER_243: is a swedish show so we're gonna have to watch it with the subtitles on they've made their own their

SPEAKER_454: own no you don't they everything on netflix is dubbed i watched some of these korea yeah you could

SPEAKER_302: you could watch the i watched some of the korean dramas with my daughter and she just wants it in english doesn't want to do subtitles oh really no the dub is so weird but okay yeah i don't like the

SPEAKER_37: dub but you could for a 12 year old it's a it's kind of hard yeah they will they will definitely

SPEAKER_243: do because they put a trailer up in english so whenever they do that that means they're gonna

SPEAKER_458: dub it for sure do we like i love that when the mouth is not yeah it doesn't match but that's okay

SPEAKER_07: do we i mean do we have a sense that the spotify origin story is this dramatic this is gonna be the

SPEAKER_461: most boring story ever told like it is right it's a lot of negotiations with music publishers

SPEAKER_09: right yeah it's gonna be terrible there's nothing interesting like i think like they had one party where somebody drank too much and puked like that's going to be like the big controversy

SPEAKER_463: is like oh my god did you see sven sven but he got shanked at the christmas party he puked on

SPEAKER_465: tell you like shoes it was crazy the stockholm startup guys they want their own show

SPEAKER_467: you gotta let them have a show it's based on a book okay the book spotify untold by swedish authors sven carson and jonas legan hoefeld the book i made that i i have no idea um the book

SPEAKER_472: is described as l-e-g-o-n-h-u-f-v-u-d i think i did great as far as i'm concerned that was like

SPEAKER_06: you don't want me going for that one it's my north dakota roots right there the book is described as quote a david versus goliath story about how strong convictions unrelenting willpower and big

SPEAKER_78: dreams can help small players take on the titans of tech i'm sorry what was it like it might be a

SPEAKER_480: perfectly fine business and then they released the mac oss the mac os desktop version oh and it

SPEAKER_440: crashed everybody's computer crashed all the spotify i mean come on and then steve jobs said we're gonna build our own and hung up the phone like literally that's gonna be the scene it's gonna

SPEAKER_69: be uh danielek on line one it's like uh mr jobs we'd like to party he's like i'm sorry who is this it's danielek i'm sorry what are you calling about we're making a streaming service where you can play music he's like yeah congratulations it's called itunes yeah but in oz you're gonna pay a subscription fee instead of paying 99 cents oh really wow you're a genius i never thought about that goodbye

SPEAKER_483: like that's literally gonna be i mean spotify did win yeah i mean like i don't know i realized

SPEAKER_253: when i was reading this like i don't i don't actually know the spotify story like i know it appeared on my computer one day and now i have it i lived it they but if it didn't they got the rights

SPEAKER_09: in sweden they got the rights in some countries in europe in america they couldn't get the rights

SPEAKER_492: they were the pr people were giving american journalists access to it with like i remember i

SPEAKER_295: had it for like a month exactly i had it for another way the rollout was very dramatic and certainly

SPEAKER_06: negotiating with the music industry is no joke but it's not good tv you know it's like a lot of

SPEAKER_497: right here's what they need to do molly they need to start with we signed joe rogan and he had alex

SPEAKER_14: jones on that's the interesting story the podcasting story is interesting people quitting did you hear what joe rogan said that guy being like oh my god we gave a hundred million you gave a hundred million dollars to the 200 million dollars to this guy and you didn't listen to the podcast did you know

SPEAKER_254: he said this on the podcast and you get to cast you get who's going to play neil young who's going to play david crosby now that's what's going to play jordan peterson you know it's like a six episode

SPEAKER_503: limited series that's the fun of it here's the thing about spotify young men are addicted to the

SPEAKER_504: service and then they can't get anybody's you know i can't even they won't even distribute me and you know young men are paying for it and they keep paying they keep paying with their souls molly

SPEAKER_81: i'm just holding up my red flag i'm not listening to a word of this chris pine said his character

SPEAKER_243: sign up for me darling the new olivia wilde movie is jordan peterson he said he based it on jordan

SPEAKER_510: peterson i know i can't wait to see it very excited not wait chris fine doing his jordan peterson

SPEAKER_511: impression oh well time to go all right everybody that's it i didn't mean to trigger you

SPEAKER_513: yes join rumble because i'm doing uh i'm on ben shapiro and i'm interviewing trump from mar-a-lago

SPEAKER_515: he's been framed you know young men look up to trump i'm sorry i'm gonna stop it's starting to

SPEAKER_106: get to kermit the frog as always uh i did start watching paper girls but then i heard it's already

SPEAKER_253: canceled so i don't already got the time since i recommended it to you they brutally canceled it

SPEAKER_254: i stupid it is shocking to me that brian k vaughn's stuff is not translating to tv he did why the last man he did paper girls these are such great books they're so great something about it in the adaptation

SPEAKER_07: is getting lost i don't know did you house the dragons form i hope for the next one i read all the recaps i am up to date did you did house of four yeah i'm all caught up yeah i'm okay i mean i'm

SPEAKER_520: i'm just i've determined it's just prostitution porn it's prostitution i had to look away at a minute

SPEAKER_143: because i was just like i don't no thank you i'm like incest brothel i i just don't feel great watching this it was a little but i guess that's what happened in those times people married their

SPEAKER_354: little light marital rape people always say that like they don't have to show if they didn't want

SPEAKER_250: to do a story about that they didn't have to it's not like that was happening constantly i feel like

SPEAKER_06: this is like okay now i'm just gonna get us in trouble but you know how like we started and the and the show runners were like we're gonna definitely not repeat the mistakes of game of thrones when it comes to the treatment of women it feels like this is actually just like a me too

SPEAKER_45: revenge romp the whole thing it's like no actually we're gonna make a whole series about how you ladies have been treated throughout history and then we're gonna be like it's history

SPEAKER_270: what can we do here it is a weird bait and switch that that beforehand so much of the conversation was about this is going to be empowering for women we're not going to be she's an empowering

SPEAKER_337: character but no she's not well i mean she rides a dragon and has crisped a bunch of people but

SPEAKER_78: you could make the case but it's very like then you get these gas lady articles that are like it's actually all about the women and the power of the women i'm like no it's prostitution porn

SPEAKER_250: they're putting them through a whole lot before they get to that does seem to be hard okay i agree

SPEAKER_06: with that i'm 50 50 on it it's a little bit it's a little bit like it's the bait and switch part it's like if you hadn't had that conversation up front it'd be one thing but instead it literally

SPEAKER_136: is like oh my god i knew this was an issue because you know at the end they do a recap because

SPEAKER_14: the shows are so complex and they're like so muddy and dark and all the names are hard to follow this you know there's a lot of character points here to keep up with so at the end they're like hi i'm a female i'm involved with the production of this show let me address the issues you have with how females are treated in the show right she's like so i wanted to do this and she's talking literally about the brothel sex scene and she's like i wanted to do this in a new way from a woman's perspective because normally this is the man's gaze so let me show you that how i manifested the woman's gaze because women do have sex as well and enjoy it that literally is like a short film after the

SPEAKER_289: episode yeah and i do their like 10 minute making did you see it in that instance did you see or watch

SPEAKER_270: it or no like to launch i don't i don't usually watch those tell that story just because i like to have the i like to have my my own reactions instead of parodying what the hbo people said so right you

SPEAKER_09: don't want them to give you their talking points right that's professional that's professionalism yeah so weird all right listen lon we could talk to you for hours we always do good so we gotta be disciplined today and let you get out of here we're gonna get out of here um i just also want to say shout out to industry i'm very much enjoying the show it's euphoria meets um it's euphoria billions

SPEAKER_48: meets billions as you described it freaking great and the actors are all amazing and there's only one

SPEAKER_69: actor i recognize um ken leong from lost ken leong who i love yeah he was we gotta cast him in our show

Jason Calacanis: maybe i'll start that one since since your recommendation for me got the boot all right

SPEAKER_52: see you next week all right everybody thank you for listening and thanks again for our good friend lon harris for joining us follow him twitter.com slash l-o-n-s and remember stump the lawn ask him tell him two things you like and ask him for three more that's what i want you to do stump the lawn you can put the hashtag on stump the lawn at lawns on twitter here's the two things i love give me three

SPEAKER_06: more like he loves i have yet to see anybody win this game so we'll bring it on uh and then stay tuned tomorrow of course for another great friday variety show a little news a little series a and of

SPEAKER_03: course okay boomer and congratulations to all the newly rich figma employees joining launch fund four first webinar tomorrow friday do you know there's over 600 people signed up for our launch fund four

SPEAKER_443: webinar i do i'll be there i'm stoked i yeah i'm i'm not nervous but i'm excited it's a lot of

SPEAKER_03: incoming yeah that's all i mean it's a little crazy and we have over a thousand people signed up uh to go to the webinar and i'm i've decided i'm going to do a story either fortune or forbes or reuters somebody emailed me like and then i talked on cnbc about it yeah last night people want people are like intrigued by this raising a fund in public yeah and i'm super excited about it if you're interested just email me calacanis my last name at launch.co and me or somebody on my team will get that i'm getting 20 to 50 people a day emailing about it so mission accomplished with this like i think raising in public is cool it's gonna be a little extra pressure really and you're doing it at exact

SPEAKER_06: the timing is perfect because it's this exact moment when vc is becoming more mainstream you're already a a celebrity investor like for you know to give this kind of to have this brand at this moment that vc is becoming more mainstream and to give this look behind the curtain is catnip i think it's kind of

SPEAKER_09: fun to everybody get educated and make a good decision uh somebody was like is this for everybody absolutely not it's for accredited or qualified purchases only so it's only for six percent of the country but i do think in the coming years maybe launch from five six or seven we would be able to

SPEAKER_14: set up some kind of a pool molly and say hey to our family members non-accredited people who are

SPEAKER_03: friends if you want to put in a hundred dollars or five hundred dollars instead of you know uh going out this weekend and having a dinner or whatever you know take a flyer learn about venture get educated go ahead and do it you know like i think it's really interesting i i'm a little upset at myself if i'm being honest i wanted to do this for launch run three i don't want to say i felt bullied but i kind of got bullied into not doing it like a lot of people were like it's just don't do it don't do it don't do it and i'm like but my whole career is about increasing access to this asset class right why not do it like because nobody does it because that's just the tradition because it's complicated i'm like not for me not complicated for me it's extra work i'm like not for me it is a lot

SPEAKER_09: of extra work but it is yeah it's extra work it is a lot more work i can tell you you know these 20 to 50 emails a day i asked people when you email me hey tell me a little bit about yourself because i want to know who i'm in business with obviously and even if it's a small check even if it's a 10k check or a 25k check or a 50k check which is nothing for an accredited or qualified purchaser obviously um you know it's like going on going away for the weekend um i mean i've seen people play poker hands for that amount uh much even larger amount so it's not a lot for a rich person to put in a 50k check but i still want to get to know them because i have a limit number slot so i'm trying to get to know everybody and with a thousand people already signed up if this gets to 2 000 it's

SPEAKER_69: impossible for me to do that so that's where i'm now thinking how do you even crm yeah how do you even

SPEAKER_09: build relationships that many people and that's why i decided to do these group webinars because i can

SPEAKER_03: reach 600 people a webinar or more and so tomorrow's the first one and then i'm going to do one i'm going to do three of them so one a week for three weeks so if you're hearing this you missed week

SPEAKER_09: one but week two and three we still have slots open calacanis c-a-l-a-c-a-n-i-s at launch.co

SPEAKER_574: not a com c-o all right all right everybody like launch a company see you tomorrow see you tomorrow