Gimlet Media co-founder Matt Lieber reflects on how acquiring significant personal wealth from the $230M+ Spotify acquisition changed his life.
Insight
Lieber: Podcasting needed better discovery and analytics to reach full potential
“There were two, like, Basically, industry-level challenges that we were confronting along with every other podcast company, and one was audiences are still having a really hard time discovering new podcasts. Like, if you ask people how they find out new podcas…”
Assertion Not checkable as stated
Lieber: Many of the world's most popular podcasts use This American Life's sound
“Which is funny, because now, like, a significant portion of the most popular podcasts on earth are this sound, but at the time, it was really weird.”
Insight
Lieber: Every new medium produces new defining media companies
“Every time a new medium comes about, New media companies get built. This is true across the last, you know, hundred years of history, and I thought someone will build a defining media company around on-demand digital audio”
Assertion Not checkable as stated
Lieber: Three major public radio stations passed on investing in Gimlet
“When we first started the company, when we were out pitching to raise money, we pitched the company to probably three of the biggest public radio stations. And none of them invested.”
Opinion
Matt Lieber: Gimlet's Success Came Primarily From Luck, Privilege, and Timing
“I think it's mostly luck but not in the obvious way. Like, I think I think for me it was the luck of, like, being born into the family I was born into at the time that I was. So I had the luck of being in a family where my parents sent me, like, paid for my co…”
Disclosure
Lieber: Gimlet initially planned to reach profitability on its $1.5M seed round
“Well, when we raised the first million and a half dollars of financing, our plan was that that would take us through to profitability, and then we would fund our growth through profits.”