Quibi

“Dude, they came to our office to pitch you and I, to like, they wanted Sean and Sam or like MFM to be like a content series.”

“And what Jeffrey Katzenberg did wrong was he tried to give people what they should want Rather than what they do want.”

“Companies are also kind of like a, they're kind of a math problem that describes how you take, you know, investment and pour them into the equation and out the other side comes returns on some time horizon. And yes, There are variables in that equation that ar…”

“We made 70 shows. In 18 months, which is like more content than all of the major broadcast networks combined made in a single year.”

“Pretty quickly became clear that the math was just wrong. It wasn't going to take two billion. It was going to take six or eight or ten billion. And the risk reward profile of betting ten billion on the format was just more than anyone can stomach.”

“Quibi, I think, was the right idea. Small micro content, like, you know, TV shows shrank down, I think can be really successful. The problem was, They raised two billion dollars and spent it all on, like, really high production quality stuff that wasn't that j…”

“If the equation is fundamentally broken or a big swing in and of itself, no amount of like iteration and execution can like kind of get you out of the failed outputs of the broken equation.”

“We made 70 shows. In 18 months, which is like more content than all of the major broadcast networks combined made in a single year.”

“The math of Quibi, like, did require us to, like, from day one, land in the top 10 and stay there forever. Like, the model would have worked if we could do that.”

“In a world where you have to spend, you know, a billion dollars a year making content, you just can't afford to not be a hit.”

“We returned six hundred million dollars out of the initial billion dollars to our investors”

“We returned six hundred million dollars out of the initial billion dollars to our investors, and I don't think I would have gotten there without him.”

“Looping back also to briefly when Quibi was around and Quibi broke down. And I, it's always one that's top of mind for me also, as you just didn't understand the way people were sharing content as well. This whole concept of you couldn't screenshot anything, w…”

“And I think it's only going to get better for like this kind of five year period. And then these platforms are going to go away like Paramount plus and you know, like Quibi died, you know, Paramount plus what the fuck is that?”

“One of the fascinating things is Roku bought the content library, and my understanding is in, like, the first two weeks of that content launching on Roku's ad-supported platform, it's the most popular content on there.”

“What we are trying to do is create a platform where we offer short form, and I'm going to describe that in a minute, short form video of Hollywood production quality built for mobile. And mobile first, mobile only, honestly.”

“What we're setting out to do, telling things that you would think of are movies, two to three hours in length, a tried, true, tested form of narrative, and then we are delivering them in these act breaks, which are under 10 minutes.”

“There is no library to buy for this very high quality short form content. So unlike Netflix or Hulu or other that bought a library, there is no library to buy. So we have to commission that content.”

“10 major studios have invested in this platform. And they have given us access to their best IP, their best showrunners and talent. And in this town, 70 to 80%, maybe even as high as 80% of the talent is actually locked up in these studios.”

“We think people will come to our application in portrait, but they will want to watch in landscape, and then they may want to go back and forth.”

“So, last week, Anton Fuqua got together with the product and engineering team and agreed on a series of tests that he's going to go out and Shoot here, dealing with all these issues around landscape and portrait and all the things that you are sort of natural …”