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YouTube, for example, is great at building awareness, but then what do they do? They send you into a 99 download on iTunes, right? You know, I our average revenue per transaction is somewhere between $26 and $90 depending on what it is you're selling. So, why you would drive them to a 99 transaction is beyond me.
there's the opportunity that I don't understand why more people don't do is the ability to call out a website. So, I could say, 'Everybody go log on to www.bsidesofthet.com, which you should do anyway.' Uh, but if I had a great big offer there, I could capture your email address.
the other thing is now within YouTube you can link to other videos. So what a lot of people are doing on YouTube is I make might create one show and let's say I can get to 150,000 viewers of that show. I create six or seven shows and the ones that start to get more popular at the end I start to create hot links to other shows and create a network of driving traffic that brings my overall network numbers up.
it's much easier to make money with brand integration and with uh inline advertisers than it is to have the pure CPM model.
to be successful on YouTube, you do need to get volume. Y, it's a volume business. Uh, it's also a lower cost to produce business.
Even if you give a million people to watch a video on YouTube, you still make no money.
it was no different at Yahoo, right? We we always, you know, there's an abundance of display ads at almost any big portal that are insanely low CPMs and where they make a lot of their money. I mean, it for us it was um a minority of our page views, but but you know, at least 50% of our total revenue came from the big sponsorships.
when I was at Yahoo that was ultimately bought um it was bought by MySpace.
I think there's just a fundamental difference between, you know, what Umare Hawk calls media 1.0 and media 2.0, right? And I think that you had a lot of media 1.0 I know guys trying to and and women trying to apply that model to the new world and and not acknowledging that we're not going to have hits in the same
Yahoo had decided to go from being a tech portal to being a media company. They brought in Terry Seml and then Lloyd Braun and Lloyd Braun and they hired a lot of people and it was all going to be about music and video and LA in a way that's where the internet is arriving now. So I sort of feel like some of their vision wasn't terrible.
Yahoo was still a very powerful company um and still somewhat on the ascendancy definitely.
Yahoo was interested in us though because they wanted to build their own subscription service, right? Not unlike Spotify is today or RDO is today.
Yahoo bought us in December of 03... for you know a decent return about a seven and a halfx
Yahoo had decided to go from being a tech portal to being a media company. They brought in Terry Seml and then Lloyd Braun and Lloyd Braun and they hired a lot of people and it was all going to be about music and video and LA and in a way that's where the internet is arriving now. So I sort of feel like some of their vision wasn't terrible. It wasn't terrible, but I think it was along the way.
Yahoo was still a very powerful company um and still somewhat on the ascendancy definitely
we sold in December 2003 to Yahoo uh for you know a decent return about a seven and a halfx you know not bad for the for the time
I did about a year there. Um and it was a great experience for me. I had no say your first corporate experience. Yeah, I had worked very briefly at Sony online entertainment but that was really only a few months. So, it was my first experience where it actually seemed like I had a future in a big company, you know what I mean?
AOL in May of 99 for 100 million in AOL stock at the same time that AOL bought um Spinner which is Josh Felzer's company.
it was definitely a lesson in Clayton christensen's innovator dilemma um you know in the beginning of markets Integrated Solutions beat disintegrated Solutions the solution was they own the OS they own the player they own the store they own the hard headon right disintegrated solution we were built on top of Windows media DRM music net was our now Media Net was our our sort of Licensing layer um we built the software and then you had Samsung Toshiba creative iiver whoever there was just no way t
did wamp got sold to AOL correct and did Nutella come after that yeah so you guys released a massive piracy at the time at when you're working for Ted Leones at a well and Steve case yeah and when they were trying to merge with Time Warner it was a very unpopular thing to do
we couldn't get the resources out of AOL actually build the web based version