The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
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Acevedo: mitú board rejected DTC monetization to preserve VC view metrics
“So whenever I would bring up to my board, hey, should we be doing direct-to-consumer anything? Should we be charging one dollar for premium content that people could not get enough of? The answer immediately was absolutely not. You cannot disturb those numbers…”
Acevedo: Translating fintech apps into Spanish alienates young US Latinos
“That's the last thing you need to be doing because that sends a very powerful message that that's not for them, that that's for their parents or grandparents.”
Acevedo: Hollywood executives refused to hire Latino talent brought directly to them
“Even if heads of networks and studios would say, we can't find the Latinos, and you would bring them to them, they would Still not hire them.”
Acevedo: Multi-channel network economics broke when YouTube enabled direct creator monetization
“The model of an MCN, or the model when you are on rented territory, for the lack of a better word, you're on YouTube, you're on Facebook, those algorithms change, those rules change. Also, your economics, talking about business model, because when we launched,…”
Acevedo: 60% of educated Latinos remain underbanked in the US
“So even when Latinos are in the workforce, even when they have college degrees, They're still 60% not fully banked or not fully utilizing the financial services of this country”
Acevedo: Mainstream digital media platforms treated Latino verticals as mere afterthoughts
“It's always an afterthought. It's never the main focus. You know, even BuzzFeed, BuzzFeed had a really good vertical for a while, but it wasn't their main business. It wasn't their sole focus.”
Acevedo: Building for US Latinos requires in-culture, not just in-language, content
“So we learned that the secret sauce, and I apply this to this day on any company that I build, was doing in culture more than in language.”
Acevedo: Marketing to young US Latinos yields one-to-many family ROI
“Why are they such a big influence on older family members and their communities? You know, why that ROI is never one to one, but one to many in our community.”
Acevedo: Cross-generational trauma drives Latino distrust of US financial institutions
“There's so much distrust in financial institutions. I would say that's something that cuts across all generations because we come from a lot of financial trauma, From our countries of origin, you know, some of us still remember the day our parents lost it all …”
Acevedo: US Latinos spend the most but save and invest the least
“It's kind of odd because when you look at the spend, it is Latinos spending the most, but saving the least and investing the least.”
Acevedo: mitú grew its network to 7,000 top Latino creators
“So, you know, we had 7000 of the top Latino creators in our network.”
Acevedo: US Latino population growth is driven by young, native-born individuals
“Now the growth is nativity, is U.S. Born, and we know we are super, super young. And that's a very different demographic than the one agencies or brands were targeting 2030 years ago.”
Acevedo: mitú reached 100 million unique viewers at its peak
“We had at some point at the height of me to a hundred million uniques.”
Acevedo: US Latinos would be world's fifth-largest economy as a standalone country
“So, you know, if we took Latinos and said, let's, let that be a different country, right? We'd be the fifth largest economy in the world.”
Acevedo: US Latinos hold only 20 cents on the dollar in wealth
“So as big as our contributions are to GDP, We still are at 20 cents to the dollar when it comes to closing the wealth gap in our community”
Acevedo: Ad sales, not content creation, was mitú's biggest operating expense
“Our biggest expense was not the content creation, because we started as an aggregator, so we had the content from all these independent talent. So that was great. That was not our biggest expense, but our biggest expense was a sales team, and a sales team is n…”