Shane Smith

At a Glance

• No Secret Sauce - ‘Like because it was it was no secret sauce to Vice.’ This emphasizes the gritty, raw effort behind the scenes rather than any mystical formula.

• Creative Frustration with Corporate Culture - ‘What I was spectacularly unsuccessful at was flying in, hanging out with lawyers and fucking accountants.’ Expresses the disconnect between creative origins and corporate responsibilities.

• Reflection on Media Evolution - ‘And you’re like, I don’t even know what max is. Like, why would you change HBO to max?’ Indicates bewilderment at ongoing changes in the media landscape, reflecting a sense of nostalgia and resistance to change.

• Content vs. Revenue Focus - ‘That’s what a media company is, make great content and then monetize it.’ Simplifies the core activities of a media company, stripped of any corporate complexity.

• Censorship Irony - ‘And fucking you get banned and your kids love it. Like they’re just, you’re off to the races.’ Highlights the counterintuitive benefit of censorship in enhancing a brand’s appeal to youth.

What to Do

• ‘Concentrate on content and revenue’ - This advice underscores the foundational aspects of running a successful media company, emphasizing the importance of creating quality content while also focusing on effective monetization strategies.

• ‘Avoid getting sucked into distractions’ - The speaker advises to stay focused on core business activities rather than getting entangled in peripheral issues like HR disputes or legal battles, which can divert attention and resources away from business goals.

• ‘Innovate and diversify revenue streams’ - Highlighting the dangers of relying solely on advertising, this advice encourages exploring different business models, such as subscription-based services, to stay competitive and financially healthy.

• ‘Create your own narrative’ - This advice stresses the importance of controlling your public and personal narratives, suggesting that if you don’t take charge of your own story, others will shape it for you, often in ways that may not align with the truth or your intentions.

• ‘Embrace direct experiences’ - Encourages firsthand engagement with the subject matter or business environment rather than relying solely on secondhand reports or conventional wisdom, promoting a more authentic and informed perspective.

• ‘Build from scratch and learn from each experience’ - Reflects the value of grassroots development and hands-on involvement in various aspects of business, which can lead to more profound understanding and innovation.

• ‘Maintain the essence of what made you successful’ - This piece of advice is about staying true to the core values and practices that originally led to success, even as circumstances change, ensuring that growth does not dilute the brand’s unique strengths.

What to Get

• Donkey dildo - Mentioned in a humorous or satirical context, possibly as a prop or illustrative item in storytelling or media content.

• Stringer’s Methodology - Refers to the journalistic approach used by reporters, potentially involving staying in hotels and reporting from a distance.

  • Action Research 5th Edition by Ernest T. Stringer - Amazon

Summary

This podcast episode features a dynamic and revealing conversation primarily centered around the media industry, specifically focusing on the experiences of a media company executive. The dialogue delves into the challenges and insights gained from running a media enterprise, touching on topics such as content creation, revenue generation, and the pitfalls of legal and operational hurdles.

The conversation begins with a discussion about the basic yet vital aspects of media business – creating engaging content and generating revenue. The executive emphasizes the simplicity yet profundity of focusing on these two elements, despite the distractions that often come from various quarters of business operations, including HR issues, lawsuits, and financial endeavors to raise capital.

As the discussion unfolds, the speaker reflects on the broader landscape of the media industry, highlighting the struggles many companies face due to a lack of innovation, especially in adapting to new revenue models like subscription-based services. He points out how major players like Amazon and Netflix have changed the game by integrating their services with broader digital ecosystems, making them nearly invincible competitors in the content market.

The narrative then shifts to personal anecdotes and experiences, such as the thwarted attempt to publish a comprehensive book about the media company due to legal fears, demonstrating the often restrictive impact of legal caution in the media industry. Additionally, the conversation touches on the executive’s personal journey and earlier career phases, including teaching English in Eastern Europe and the cultural and professional insights gained from those experiences.

The episode encapsulates the tension between creative aspirations and the harsh realities of business management within the media industry. It also explores the changing landscape of media consumption, the impact of corporate influence on content, and the ongoing challenges faced by traditional media companies in a digital age dominated by a few tech giants.

Overall, the podcast offers a candid look into the complexities of managing a media company, balancing creativity with commercial imperatives, and navigating the ever-evolving media environment. It provides valuable lessons and warnings for anyone interested in the intersection of media, business, and technology.