The Prof G Pod with Scott Galloway Office Hours: The Business of Podcasting, Leaving Your Job To Start A Business, and the Pros and Cons of Stock Buybacks
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Aug 30, 2023 Discover the ins and outs of the podcasting industry, from financial realities to growth opportunities. Delve into the pros and cons of stock buybacks and their effects on corporate strategy. Explore the challenges of leaving a secure job to embark on the entrepreneurial journey, especially when balancing family responsibilities. Plus, hear insights on fostering sustainable growth in business while navigating personal fulfillment in career transitions.
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Podcasting Economics
- Podcasting is a challenging business, with low barriers to entry and high competition.
- Only a tiny fraction of podcasts achieve profitability due to the sheer volume.
Podcasting Motivation
- Start podcasting for the right reasons, such as passion, awareness, or footprint expansion.
- Don't expect to make significant money initially; focus on building an audience and expertise.
Pivot's Success
- Scott Galloway's podcast 'Pivot', co-hosted with Kara Swisher, generates substantial revenue due to high CPMs from a desirable audience.
- 'Pivot' earns $7-10 million annually and is a top 100 podcast, demonstrating the potential for success.