Benyamin Cohen, author of 'The Einstein Effect' and the person behind the official Albert Einstein social media accounts, joins Kara and Scott on this episode. They discuss the Jann Wenner controversy and the "summer of strikes." The potential sale of ABC by Disney and the future of linear television is also explored. The conversation then shifts to the fascinating legacy of Albert Einstein, including his impact on science, technology, and humanitarianism. They also touch on Albert Einstein's popularity on social media and make predictions about the end of a strike.
Read more
AI Summary
Highlights
AI Chapters
Episode notes
auto_awesome
Podcast summary created with Snipd AI
Quick takeaways
The ongoing UAW strike against GM and Solantis highlights the decline in wages and the need for reasonable demands to improve working conditions.
Disney's potential sale of ABC and its assets reflects the decline of linear TV and the shift towards streaming and digital platforms in the media industry.
Consolidation of declining but profitable assets, along with a private equity mindset of managing for cash flow, may be a more profitable strategy for media companies in the face of changing consumer behavior.
Disney's consideration of strategic options for its linear media division, while focusing on streaming services, reflects the need to adapt to changing market dynamics and consumer preferences.
Deep dives
UAW Strike Update: Demand for Fair Compensation
The United Auto Workers (UAW) strike against GM and Chrysler parent company, Solantis, continues with demands for a 40% pay increase, pension plan expansion, and shorter work weeks. Negotiations are ongoing, with UAW using targeted strikes at different plants for leverage. The UAW's demands are considered reasonable, considering the decline in wages over the years. The strike is expected to be resolved within 30 days.
Possible Sale of ABC and Linear TV's Decline
Reports suggest that Disney is considering selling ABC and its affiliates, while media mogul Byron Allen has made a preliminary offer of $10 billion for ABC and its affiliates, as well as cable networks FX and National Geographic. This comes as Disney's linear networks, including ABC, face declines in advertising revenue and viewership. The potential sale of ABC and its assets could be part of Disney's strategy to divest from declining linear media. Private equity-like management and consolidation will likely follow to maximize profits.
The Future of Linear TV and Structuring Divisions
The decline of linear TV and the shift towards streaming and digital platforms is evident in Disney's consideration of selling ABC and its affiliates. Other major media companies, including Time Warner and Viacom, could also shed their cable assets. The most valuable consumer group, young people, are now more engaged with platforms like TikTok rather than traditional media, impacting advertising revenue. Divesting from declining linear assets and adopting a private equity mindset of managing for cash flow may be a more profitable strategy for media companies.
Potential Buyers and Managing Declining Assets
Various potential buyers, such as Nextar and Byron Allen, have expressed interest in acquiring ABC and its affiliates. The consolidation of declining but profitable assets is a key strategy to cut costs and maintain profitability. Companies that can effectively manage these assets for cash flow and navigate the changing media landscape are likely to see success. Divesting from declining assets and focusing on higher-growth areas, such as streaming, will be crucial for the future of media companies.
Disney's Response and Strategic Considerations
Disney has denied the reports of a potential sale of ABC but has acknowledged the need to consider strategic options for its linear media division. The decline in advertising revenue and viewership has forced media companies to rethink their traditional business models. Disney's future focus may be on its streaming services, such as Disney+ and Hulu, while divesting from declining linear assets. This reflects the shift in consumer behavior towards digital platforms and the need to adapt to changing market dynamics.
The Role of Albert Einstein on Social Media
Benjamin Cohen, the author of 'The Einstein Effect,' discusses his role in managing the official Albert Einstein social media accounts and the importance of keeping the younger generation aware of Einstein's contributions. Cohen emphasizes that Einstein was not just known for his scientific achievements, but also for his humanitarian values and empathy. He mentions examples of how Einstein's theories, like the theory of relativity, have had a significant impact on modern technologies such as GPS. Cohen also touches upon the issue of combating disinformation and how Einstein faced similar challenges during his lifetime.
Einstein's Popularity and Branding
The podcast discusses Albert Einstein's enduring popularity and how he understood the power of celebrity. Despite being renowned for his scientific accomplishments, Einstein's approachability and sense of humor made him a beloved figure. The podcast also highlights how Einstein's image and name have been used for branding purposes, such as in Disney's 'Baby Einstein' and Apple's 'Think Different' campaigns. The discussion touches on the financial aspects of Einstein's brand, with the Hebrew University of Jerusalem managing his estate and his consistent presence on the Forbes list of highest paid dead celebrities. The podcast emphasizes how Einstein's legacy and influence continue to resonate in the modern world.
Kara and Scott discuss the Jann Wenner controversy, and the new management term "feedforward." And as the "summer of strikes" marches into the fall, they talk about the State of the Unions. Then, is Disney selling off ABC? And would that be the end of linear television? Our Friend of Pivot is Benyamin Cohen, the author of, "The Einstein Effect: How the World's Favorite Genius Got into Our Cars, Our Bathrooms, and Our Minds," who also happens to be the man behind the official Albert Einstein accounts on social media.
