In this engaging discussion, Eric Jorgenson, CEO of Scribe Media and author of 'The Almanack of Naval Ravikant,' shares his inspiring journey of resurrecting a once-bankrupt publishing company. He delves into the pivotal lessons learned from Scribe’s downfall and the vital role of self-publishing in today's literary landscape. Eric highlights the significance of maintaining creative control and rebuilding trust within the author community while navigating modern challenges in publishing. Listeners gain valuable insights into resilience and innovation in the face of adversity.
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question_answer ANECDOTE
Scribe's Downfall
James Altucher details Scribe Media's downfall under JT McCormick, highlighting his seemingly impressive background and initial success.
Altucher emphasizes the unexpected nature of the situation, having trusted McCormick and featured him on his podcast.
question_answer ANECDOTE
Jorgenson's Entry
Eric Jorgenson's involvement with Scribe began as an author, publishing his successful book "The Almanac of Naval Ravikant" through the platform.
His positive experience and belief in Scribe's model led him to become a strong advocate for the company.
insights INSIGHT
Scribe's Collapse: The Domino Effect
Scribe Media's collapse involved financial mismanagement, including layoffs and undisclosed financial troubles, leading to a bank seizing assets.
This mismanagement left employees without severance and authors with unfinished, prepaid projects.
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The 10,000 Experiments Rule and Other Surprising Advice for Reaching Your Goals
James Altucher
In 'Skip the Line', James Altucher shares his personal journey from struggling and depressed to achieving his personal, financial, and creative dreams. The book challenges the 10,000-hour rule of achieving mastery and instead advocates for the '10,000 Experiments Rule'. Altucher provides tools and strategies to help readers execute ideas, become expert negotiators, attract attention, scale promising ideas, and improve leadership. He emphasizes the importance of curiosity, embracing fear, and constant growth, encouraging readers to navigate uncertainty and find success by doing what comes naturally and loving what they do.
Choose Yourself
James Altucher
In 'Choose Yourself,' James Altucher argues that the traditional paths to security such as college, employment, and retirement are no longer viable. He advocates for individuals to take control of their own lives, focusing on building physical, emotional, mental, and spiritual health. The book provides actionable steps for personal growth and creating a fulfilling career and life on one's own terms. Altucher emphasizes the importance of doing what you enjoy, surrounding yourself with positive people, and continually expanding your horizons to achieve success and happiness[1][3][5].
The Almanack of Naval Ravikant
A Guide to Wealth and Happiness
Naval Ravikant
Eric Jorgenson
Tim Ferriss
The Almanack of Naval Ravikant is a compilation of Naval's thoughts on fundamental principles for happiness, wealth creation, decision-making, and personal growth. The book distills his insights from the last ten years into practical advice, guiding readers on how to walk their own unique path toward a happier, wealthier life. It emphasizes the importance of compound interest, leveraging resources, and productizing oneself. The book also delves into key aspects of life, including relationships, health, and purpose, offering a holistic approach to wealth and happiness.
The Forever Portfolio
James Altucher
Episode Description:
Eric Jorgenson’s story with Scribe Media is one of the rare second chances in business. In this episode, James sits down with Eric to discuss how he saved Scribe from its dramatic downfall, brought it back to stability, and is leading it into a promising future. Eric shares the inner workings of the acquisition, the lessons learned from Scribe’s collapse, and how the company is redefining professional self-publishing.
Together, they also explore why self-publishing is a vital option for authors, the evolving publishing landscape, and how to create meaningful books in today’s digital age. This episode is packed with actionable insights for authors, entrepreneurs, and anyone interested in the intersection of business and creativity.
What You’ll Learn:
The Fall and Rise of Scribe Media: What led to Scribe’s bankruptcy and how Eric Jorgenson turned it around.
The Future of Publishing: Why self-publishing is more relevant than ever and how it’s empowering authors.
Leadership Lessons: Key takeaways from managing a company through crisis and rebuilding trust.
The Economics of Books: Why owning your royalties and creative control can make all the difference.
Resilience in Business: How to find opportunity in the ashes of a failed venture.
Timestamped Chapters:
[01:30] Introduction: James reflects on Scribe Media’s story and his personal connection to the company.
[03:20] Scribe’s Collapse: What went wrong under JT McCormick’s leadership.
[09:26] Enter Eric Jorgenson: How Eric got involved with Scribe.
[17:10] Lessons Learned: Red flags, leadership failures, and rebuilding a company.
[24:11] Saving Scribe: Eric’s approach to reviving the company and reconnecting with authors.
[32:14] The Future of Self-Publishing: Why the model works and its growing importance.
[40:53] AI and Writing: How technology is shaping the future of book creation.
[50:49] Final Thoughts: The road ahead for Scribe Media and Eric’s vision for the company.
The James Altucher Show 
