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Apr 26, 2025 · 31m · tbpn

The Future of Media in VC | Erik Torenberg on TBPN

Erik Torenberg · 16m spoken John Coogan · 7m spoken Jordi Hays · 4m spoken
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Erik Torenberg joins John Coogan and Jordi Hays to discuss his appointment as a General Partner at Andreessen Horowitz, exploring the strategic convergence of venture capital with specialized media networks, private communication infrastructure, and B2B content economics.

How this conversation actually went

Every chapter scored 0–10 on four independent dynamics. Hover any point for the reasoning behind the score. The hosts hold 43.7% of the talking time here. How this is scored →

The hosts as informed peer 5.1 Guest teaching 4.0 Guest disagreement 1.6 The hosts pushing back 1.9
05100:0010:0020:0030:000:00–2:50 · The hosts as informed peer 4/10 Erik Torenberg on Joining Andreessen Horowitz as General Partner The hosts welcome Erik and joke about how the general partner recruitment went down. Erik shares the background of his career conversations with Marc Andreessen and Ben Horowitz leading to a dual role at a16z.2:50–5:41 · The hosts as informed peer 3/10 Discovering a Superpower in Evangelism and Community Building Jordi prompts Erik on his networking skills, comparing him to the 'Michael Jordan of networking.' Erik details his early projects like Rapt.fm and Product Hunt where he realized his talent for community evangelism.5:41–11:34 · The hosts as informed peer 6/10 B2B Media Economics and the Niche Publication Playbook John and Jordi highlight the power law economics of platforms versus niche media businesses. Erik educates the hosts on the high CPM economics of B2B trade publications, citing Industry Dive's $500M acquisition.11:34–14:26 · The hosts as informed peer 6/10 Media Monetization Models and Venture Value Capture John pitches high-margin products like VPNs for broad audiences like MrBeast, while Jordi and Erik discuss value capture through equity investing rather than simple ad scaling.14:26–19:23 · The hosts as informed peer 6/10 Andreessen Horowitz's Content Evolution and Podcast Network Strategy John references specific a16z content efforts like 'Everyday Carry' and NoClip's gaming documentary. Erik outlines his vision for building an affiliate-style podcast and creator network under a16z.19:23–24:05 · The hosts as informed peer 5/10 The Architecture and Potential of Group Chat Social Networks Jordi asks about scaling group chats, prompting Erik to break down the UX failures of WhatsApp and Signal for large groups and discuss the next wave of live debate platforms.24:05–27:10 · The hosts as informed peer 6/10 Defending Market Maps, Curated Lists, and Corporate Media John mounts a defense of market maps as equity research frameworks. Erik agrees and extends the argument to lists, before John jokes about corporate-backed media replacing independent media.0:00–2:50 · Guest teaching 2/10 Erik Torenberg on Joining Andreessen Horowitz as General Partner The hosts welcome Erik and joke about how the general partner recruitment went down. Erik shares the background of his career conversations with Marc Andreessen and Ben Horowitz leading to a dual role at a16z.2:50–5:41 · Guest teaching 3/10 Discovering a Superpower in Evangelism and Community Building Jordi prompts Erik on his networking skills, comparing him to the 'Michael Jordan of networking.' Erik details his early projects like Rapt.fm and Product Hunt where he realized his talent for community evangelism.5:41–11:34 · Guest teaching 6/10 B2B Media Economics and the Niche Publication Playbook John and Jordi highlight the power law economics of platforms versus niche media businesses. Erik educates the hosts on the high CPM economics of B2B trade publications, citing Industry Dive's $500M acquisition.11:34–14:26 · Guest teaching 4/10 Media Monetization Models and Venture Value Capture John pitches high-margin products like VPNs for broad audiences like MrBeast, while Jordi and Erik discuss value capture through equity investing rather than simple ad scaling.14:26–19:23 · Guest teaching 4/10 Andreessen Horowitz's Content Evolution and Podcast Network Strategy John references specific a16z content efforts like 'Everyday Carry' and NoClip's gaming documentary. Erik outlines his vision for building an affiliate-style podcast and creator network under a16z.19:23–24:05 · Guest teaching 5/10 The Architecture and Potential of Group Chat Social Networks Jordi asks about scaling group chats, prompting Erik to break down the UX failures of WhatsApp and Signal for large groups and discuss the next wave of live debate platforms.24:05–27:10 · Guest teaching 4/10 Defending Market Maps, Curated Lists, and Corporate Media John mounts a defense of market maps as equity research frameworks. Erik agrees and extends the argument to lists, before John jokes about corporate-backed media replacing independent media.0:00–2:50 · Guest disagreement 1/10 Erik Torenberg on Joining Andreessen Horowitz as General Partner The hosts welcome Erik and joke about how the general partner recruitment went down. Erik shares the background of his career conversations with Marc Andreessen and Ben Horowitz leading to a dual role at a16z.2:50–5:41 · Guest disagreement 1/10 Discovering a Superpower in Evangelism and Community Building Jordi prompts Erik on his networking skills, comparing him to the 'Michael Jordan of networking.' Erik details his early projects like Rapt.fm and Product Hunt where he realized his talent for community evangelism.5:41–11:34 · Guest disagreement 2/10 B2B Media Economics and the Niche Publication Playbook John and Jordi highlight the power law economics of platforms versus niche media businesses. Erik educates the hosts on the high CPM economics of B2B trade publications, citing Industry Dive's $500M acquisition.11:34–14:26 · Guest disagreement 2/10 Media Monetization Models and Venture Value Capture John pitches high-margin products like VPNs for broad audiences like MrBeast, while Jordi and Erik discuss value capture through equity investing rather than simple ad scaling.14:26–19:23 · Guest disagreement 1/10 Andreessen Horowitz's Content Evolution and Podcast Network Strategy John references specific a16z content efforts like 'Everyday Carry' and NoClip's gaming documentary. Erik outlines his vision for building an affiliate-style podcast and creator network under a16z.19:23–24:05 · Guest disagreement 2/10 The Architecture and Potential of Group Chat Social Networks Jordi asks about scaling group chats, prompting Erik to break down the UX failures of WhatsApp and Signal for large groups and discuss the next wave of live debate platforms.24:05–27:10 · Guest disagreement 2/10 Defending Market Maps, Curated Lists, and Corporate Media John mounts a defense of market maps as equity research frameworks. Erik agrees and extends the argument to lists, before John jokes about corporate-backed media replacing independent media.0:00–2:50 · The hosts pushing back 1/10 Erik Torenberg on Joining Andreessen Horowitz as General Partner The hosts welcome Erik and joke about how the general partner recruitment went down. Erik shares the background of his career conversations with Marc Andreessen and Ben Horowitz leading to a dual role at a16z.2:50–5:41 · The hosts pushing back 1/10 Discovering a Superpower in Evangelism and Community Building Jordi prompts Erik on his networking skills, comparing him to the 'Michael Jordan of networking.' Erik details his early projects like Rapt.fm and Product Hunt where he realized his talent for community evangelism.5:41–11:34 · The hosts pushing back 2/10 B2B Media Economics and the Niche Publication Playbook John and Jordi highlight the power law economics of platforms versus niche media businesses. Erik educates the hosts on the high CPM economics of B2B trade publications, citing Industry Dive's $500M acquisition.11:34–14:26 · The hosts pushing back 3/10 Media Monetization Models and Venture Value Capture John pitches high-margin products like VPNs for broad audiences like MrBeast, while Jordi and Erik discuss value capture through equity investing rather than simple ad scaling.14:26–19:23 · The hosts pushing back 2/10 Andreessen Horowitz's Content Evolution and Podcast Network Strategy John references specific a16z content efforts like 'Everyday Carry' and NoClip's gaming documentary. Erik outlines his vision for building an affiliate-style podcast and creator network under a16z.19:23–24:05 · The hosts pushing back 2/10 The Architecture and Potential of Group Chat Social Networks Jordi asks about scaling group chats, prompting Erik to break down the UX failures of WhatsApp and Signal for large groups and discuss the next wave of live debate platforms.24:05–27:10 · The hosts pushing back 2/10 Defending Market Maps, Curated Lists, and Corporate Media John mounts a defense of market maps as equity research frameworks. Erik agrees and extends the argument to lists, before John jokes about corporate-backed media replacing independent media.

speaking balance: gold is the hosts, purple is the guest (3 minute bins)

0:00 · the hosts 33.5% · guest 66.5%0:00 · the hosts 33.5% · guest 66.5%3:00 · the hosts 36.2% · guest 63.8%3:00 · the hosts 36.2% · guest 63.8%6:00 · the hosts 54.6% · guest 45.4%6:00 · the hosts 54.6% · guest 45.4%9:00 · the hosts 14.7% · guest 85.3%9:00 · the hosts 14.7% · guest 85.3%12:00 · the hosts 75.2% · guest 24.8%12:00 · the hosts 75.2% · guest 24.8%15:00 · the hosts 23.1% · guest 76.9%15:00 · the hosts 23.1% · guest 76.9%18:00 · the hosts 56.9% · guest 43.1%18:00 · the hosts 56.9% · guest 43.1%21:00 · the hosts 20.6% · guest 79.4%21:00 · the hosts 20.6% · guest 79.4%24:00 · the hosts 69.5% · guest 30.5%24:00 · the hosts 69.5% · guest 30.5%27:00 · the hosts 48.1% · guest 51.9%27:00 · the hosts 48.1% · guest 51.9%30:00 · the hosts 55.5% · guest 44.5%30:00 · the hosts 55.5% · guest 44.5%
Sharpest disagreement ▶ 29:20 John challenges Erik's chat privacy etiquette

John jokingly calls out Erik for naming Mark Cuban and breaking Chatham House rules on air regarding private group chat arguments.

 Hardest push from the hosts ▶ 12:43 John counters with the Beast VPN product idea

John pushes back on general creator product lines by arguing high-margin global utility software like VPNs fits massive audiences far better than typical merchandise.

 Biggest teaching moment ▶ 9:02 Erik explains Industry Dive's $500M sale

Erik explains to the hosts why unsexy B2B niche trade publications command massive CPMs and exit values compared to venture-backed consumer media.

 The host holds their own ▶ 18:29 John highlights NoClip and Secret Tape documentary strategy

John shows deep domain expertise by detailing how a16z Games successfully partnered with documentary producer Secret Tape on the Baldur's Gate III feature.
the scores for every segment, with the reasoning behind each
ChapterTopicThe hosts as informed peerGuest teachingGuest disagreementThe hosts pushing backWhy
Erik Torenberg on Joining Andreessen Horowitz as General Partner 4211 The hosts welcome Erik and joke about how the general partner recruitment went down. Erik shares the background of his career conversations with Marc Andreessen and Ben Horowitz leading to a dual role at a16z.
Discovering a Superpower in Evangelism and Community Building 3311 Jordi prompts Erik on his networking skills, comparing him to the 'Michael Jordan of networking.' Erik details his early projects like Rapt.fm and Product Hunt where he realized his talent for community evangelism.
B2B Media Economics and the Niche Publication Playbook 6622 John and Jordi highlight the power law economics of platforms versus niche media businesses. Erik educates the hosts on the high CPM economics of B2B trade publications, citing Industry Dive's $500M acquisition.
Media Monetization Models and Venture Value Capture 6423 John pitches high-margin products like VPNs for broad audiences like MrBeast, while Jordi and Erik discuss value capture through equity investing rather than simple ad scaling.
Andreessen Horowitz's Content Evolution and Podcast Network Strategy 6412 John references specific a16z content efforts like 'Everyday Carry' and NoClip's gaming documentary. Erik outlines his vision for building an affiliate-style podcast and creator network under a16z.
The Architecture and Potential of Group Chat Social Networks 5522 Jordi asks about scaling group chats, prompting Erik to break down the UX failures of WhatsApp and Signal for large groups and discuss the next wave of live debate platforms.
Defending Market Maps, Curated Lists, and Corporate Media 6422 John mounts a defense of market maps as equity research frameworks. Erik agrees and extends the argument to lists, before John jokes about corporate-backed media replacing independent media.

Statements from this episode (9)

Disclosure
Torenberg: a16z Role Combines Venture Investing and Media Networks
“Basically they had had a desire to, Go much bigger on, on, on, on content, like separate from me. And they kind of liked what I was up to at Terpeton with sort of this network approach and they crafted the right dual role. That's a mix of investing and a mix o…”
Erik Torenberg Apr 26, 2025 ▶ 2:21
Disclosure
Torenberg: Andreessen Horowitz builds internal media rather than investing in media startups
“I don't want to invest in, in, in media companies, but I do want to support. I do want to build a lot of media at Andreessen Horowitz.”
Erik Torenberg Apr 26, 2025 ▶ 7:03
Prediction Not checkable as stated
Torenberg: Every corporate job role will have a dominant creator-led publication
“Hey, there's gonna be a Lenny for HR. There's gonna be a Lenny for CFOs. There's gonna be a Lenny for every position in every sector.”
Erik Torenberg Apr 26, 2025 ▶ 11:01
Insight
Coogan: VPNs are un-fundable due to massive marketing costs
“It's not VPNs are not suitable for venture backing. Typically it's all marketing. That's the entire expense is just getting people install the VPN.”
John Coogan Apr 26, 2025 ▶ 12:54
Disclosure
Torenberg: a16z plans to build an affiliate podcast network for top creators
“We want to, like, Do something like an affiliate network where we can partner with amazing shows, help them get distribution, help them make more money and kind of make it a no brainer for them to be part of this sort of broader podcast network that just sort …”
Erik Torenberg Apr 26, 2025 ▶ 17:32
Assertion Not checkable as stated
Torenberg: Sriram Krishnan built dozens of vertical WhatsApp chats at a16z
“I worked for Shriram when he was at introducing, because he built out their group chat operation. They basically have dozens of chats, different verticals, different categories in WhatsApp. It's all separate chats.”
Erik Torenberg Apr 26, 2025 ▶ 21:25
Prediction Not checkable as stated
Torenberg predicts a group chat app will replace Twitter for fast discourse
“I think that in the next five years, like someone is going to build a group chat social network where every day where you guys cover the current thing every day. But Twitter is too slow in the way that like Twitter sort of obsoleted the New York, the tradition…”
Erik Torenberg Apr 26, 2025 ▶ 21:54
Disclosure
Torenberg: Shelved a live group chat product after meeting Marc Andreessen
“So I was actually working on a product. That was going to be like pub house for group shots where, where you chat live with a public audience. You can sort of tear the permission gates and there's a speaker and an audience that really had some magic... I was w…”
Erik Torenberg Apr 26, 2025 ▶ 22:45
Assertion Supported
Cuban and Ramaswamy first debated DEI in Torenberg's private group chat
“He went on a podcast with Vivek. They had a debate. So this public, cause they, I said their names, they did a debate on DEI in our chat and then they take it to the podcast.”
Erik Torenberg Apr 26, 2025 ▶ 29:40
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