Negative Network Effects

Negative & Positive Network Effects There have been two transformative platforms created in the last two decades: TikTok & Facebook. The growth and engagement of both are unprecedented. At its peak, Facebook averaged 58 minutes of usage per user per day. And now, TikTok is averaging 93 minutes of usage per user per day. When…

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Setting 2024 up for success

Advertising and upfronts In the 1960s, ABC pioneered upfronts. The concept was simple: In the spring, give advertisers a glimpse at the new programming launching the following fall, then give them a chance to secure their ad spots for those programs a few months in advance. The upfront time period is full of parties, celebrity…

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Advertising is having a moment

Advertising has caught investor’s attention  It’s not big new news that advertising-driven businesses have had really crappy multiples on the public markets over the past few years. Did you know you can buy Buzzfeed today for $60M? Yes, just $60M for a business that does $300M+ in revenue.  Buzzfeed’s horrible multiple is a reflection of…

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The fragility of commodity-type businesses

There are plenty of stories about SVB, the banking crisis, and what transpired the last 7 days. It’s safe to say that numerous decisions on the financial front caused SVB to come into a liquidity crisis. But that wasn’t their real downfall. Narrative control The success of commodity businesses is primarily dictated by the perception…

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The Worst Part of Media Businesses

Newsletter businesses have gotten a lot of love in the last 5 years. Companies like Industry Dive, Morning Brew, Axios, and The Hustle have all had exits that sparked the likeness of newsletters. Many of the benefits of newsletters I’ve outlined before. This deep dive will talk about the crappy part of these businesses. The…

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3 Predictions for 2023

Three predictions for 2023 Three industry-moving predictions  My top threads My top podcasts Want to see something cool and make ya laugh and cry at the same time? Workweek launched Unwrapped for your Google Calendar. It not only tells you how many hours you are in meetings, your work bestie (shout out Becca), and your…

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