00:10:53 · Adam, Sachin, Henry Innis
[00:10:53] S2: lot of people that ask for it. It just doesn't feel like that's the critically important thing right now. Yes. Like revenue is absolutely important, but like growing revenue while we can grow our channels and our view count increasingly. That's... Yeah. [00:11:06] S1: I also think that, like, that makes sense when you're a sports podcast or like a Yes Theory when you have maybe not the most monetizable audience in the world, but like all... Most of our audience will, you know, earn above a 100 k, work at a tech company, be movers and shakers in like the Australian industry and internationally. So we feel like there's better ways to monetize. And we also feel like it's probably too early right now for something like that. We have this kindling hat, which everyone seems to love. We might just give a budget, those away for free because that that hat's nice. But it's a it's a good point. Something we should think about more. And then the margins on merch are actually funnily enough quite high. [00:11:39] S0: Yeah. I feel they're not slight. And how do you guys think about, you know, you talk a lot about growing audience growing the situation on with the business. Right? How do you reach new audiences? Like, because that must be you mentioned the algorithm of YouTube and things like that and changing their thumbnails out. Like, what do you optimize towards to get there? How do expand the reach? [00:11:57] S2: I think like if we were to go, what is most important one is using algorithmic channels. [00:12:02] S0: Sorry. Sorry. Yeah. I was trying to get I was trying
00:12:02 · Henry Innis, Adam, Sachin
[00:12:02] S0: Sorry. Sorry. Yeah. I was trying to get I was trying [00:12:04] S2: to get it around. Yeah. So one is focusing on algorithmic channels. Yeah. For a long time, we focused on audio platforms, which are like, when you go on Spotify, you're not looking at all the recommendations. You'll get like what's coming in your feed. So it's a lot... See, I listen to [00:12:18] S0: the same 20 fucking songs all the time, but I like... Yeah. Yeah. Totally get it. [00:12:23] S2: Yeah. And... But with YouTube, like, now it's like, you look at your recommendations. That's how you pick videos to watch. So we're going algorithmic number one, and then number two is focusing a lot on packaging. So like, how do you get someone to click on a video? And a lot of people that have more, let's say intellectual, like sort of sophisticated content, they wouldn't focus on that much because else it might be seen as a little bit low brow, but it's actually something you've got to do. And that is like by making snappy titles, thumbnails, all that sort of stuff. [00:12:50] S1: I think that's easier to do when you generally think that each piece of content you produce could change someone's life. Like, unless you're like, I think that that feels a little bit seedy when you're producing stuff that like is clickbait y content in general, but we won't be able to click on our content and then have an educational experience while they're watching
00:12:50 · Sachin, Henry Innis
[00:12:50] S1: I think that's easier to do when you generally think that each piece of content you produce could change someone's life. Like, unless you're like, I think that that feels a little bit seedy when you're producing stuff that like is clickbait y content in general, but we won't be able to click on our content and then have an educational experience while they're watching [00:13:05] S0: it and maybe get a new idea that Like people are mostly just watching stuff because it's entertaining. Right? Like, we can say it's an educational experience. I'm selling a fucking uni degree. Like There's this [00:13:15] S1: quote that that that I really like it's like anyone that, thinks that education can't like shouldn't be an entertainment and mutually exclusive doesn't know the first thing about either one which I think is what you're getting at right? Yeah. Is that every good bit of educational content you work is... You watch is still entertaining like MKBHD with his, you know, reviews that's still entertaining and aesthetic like you watch it for no reason. Yes, Theory. Like you, you know, they're going to all these cool places and stuff. It's entertaining, but you also learn about new cultures.
00:13:15 · Sachin, Henry Innis
[00:13:15] S1: quote that that that I really like it's like anyone that, thinks that education can't like shouldn't be an entertainment and mutually exclusive doesn't know the first thing about either one which I think is what you're getting at right? Yeah. Is that every good bit of educational content you work is... You watch is still entertaining like MKBHD with his, you know, reviews that's still entertaining and aesthetic like you watch it for no reason. Yes, Theory. Like you, you know, they're going to all these cool places and stuff. It's entertaining, but you also learn about new cultures. [00:13:42] S0: Yeah. A 100%. I mean, I think I I think the big challenge with growing audiences... And look, I'll preface this by saying this is a very uninformed opinion and and a very like novice opinion. But I always see the great challenge with growing audiences is like the algorithm seem to be they almost find pockets and then they exhaust and that they... Those pockets they find pockets and then exhaust and find pockets and then exhaust and it's almost you need to keep tripping the algorithm to find the next pocket it's kind of like I like I just I just think to myself I'm like yeah if I was in your position I mean call me a lazy founder, but I like to do stuff very repeatedly if I can. So standardization is a watchword in my business. So I wonder how you can standardize that at scale. I mean, do you guys think about, you know, trying to generate it through? I mean, everyone uses LLMs on what I want to say? LLMs for LLMs.
00:14:40 · Sachin, Adam
[00:14:40] S1: A lot of people are building faces content, which I know you were talking about. We've got a team that automates it and you get like cash flow. But another big bet we're making is that the future media is just personality first. Like, you can generate a podcast about, you know, these are the best mixed channel marketing tools or whatever. Right? In two, three years, we're gonna be able do that. It's gonna combine a lot of the great information to do that. So what are you gonna go to content for? It's personality. It's always been personality. Why is Oprah famous? Right? Because of her personality. It's compelling. And like our bet is that when as things move to more generative, personality is what matters. We want to bring this unique mix of like being very vulnerable in our content, but also having like good insight. I think people look at us and they think we're like very classic tech bros, but we want to give like an additional layer of insight. Yeah. [00:15:25] S2: And I think like what Sachin just said, personality is what gives you retention. Like you need a unique value prop, gives which you the attention. The reason why someone clicks on you first, because let's say you've got a show about like how to do marketing in 2024, but then I'll keep on listening to your show week after week, because partly because of your personality, [00:15:42] S1: like feeling in a chat.
00:15:42 · Sachin, Henry Innis
[00:15:42] S1: like feeling in a chat. [00:15:44] S0: I'm not hard. I don't, I don't think I've got the, patience but let me ask you a slightly spicy question which is like and I'm more just curious as to how you dealt with it and how it made you feel like when your cap rates came out I saw you guys got like targeted by quite a few people going like their tech bros. Like, how did they get this fucking money? Like, without an idea and stuff like that. How did you deal with that? How did you react to that? What was that like going through that? Because, like, to be honest, it it it's a... It must have been pretty confronting. Like, like, how do how do you kind of deal with that? Because that's a tough [00:16:16] S1: thing in your first four months. Yeah. It's a it's a good question. So I think the first thing is is that like everyone says don't look at that stuff when it comes out. When is it about you you want to rate it? [00:16:25] S0: 100%. Hard not to like 100%. Read it.