The cost of producing an entire podcast series can run into the millions. The company spent a hundred sixty four thousand dollars per episode, but that's just for ten minute shows. If these were five-minute episodes you would get to about seven hundred fifty thousand each. This money clearly could have been deployed in a more intelligent fashion, but they went for it. i think this is the cardinal sin. You're creating a new format, but you didn't test it, and it didn't exist before....
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Referenced in this episode:
Wall Street Journal Article:
https://www.wsj.com/articles/quibi-weighs-shutting-down-as-problems-mount-11603301946
Quibi's website:
https://quibi.com
Tweets by David Sacks, Zach Coelius & John Henry:
https://twitter.com/DavidSacks/status/1319011743708766212
https://twitter.com/zachcoelius/status/1319175661743865858
https://twitter.com/JohnHenryStyle/status/1319028755264921600
Jeffrey Katzenberg & Meg Whitman on CNBC from 10/22:
https://www.cnbc.com/2020/10/22/quibi-co-founders-katzenberg-whitman-explain-what-went-wrong.html