"Media Empires" | The Business of Newsletters, Podcasts, Creators, and Data Acquisition The Democratization of Audio | Michael Mignano, Lightspeed
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Sep 27, 2023 
Michael Mignano, co-founder of Anchor and venture capitalist at Lightspeed, discusses the democratization of audio, Anchor's success, the demand for personalized audio content, analytic limitations, creator funding models, the rise of TikTok, AI in consumer social, making NPCs, the future of media businesses, mid-sized social networks, and the potential for a new audio-only social network.
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Anchor's Iterative Origin Story
- Michael Mignano built Anchor because podcast creation felt harder than photo sharing and needed democratization.
- Early Anchor launches failed, so the team iterated to add creative tools and remote recording until podcasts sounded real.
Prioritize Distribution Over Product Purity
- Distribute creators' work beyond your app to reach audiences where they already listen, even if it breaks your initial rules.
- Use aggressive growth targets to force strategic pivots when traction stalls.
Podcasting Is Video+Remote Now
- If you launch today, lean into video and remote capture because podcasts are becoming video-forward and recorded remotely.
- Design the format to feel different than a flat YouTube upload to create a defensible product experience.