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HipMojo 15C: Why Old Media Failed To Adapt to the Web


welcome back to segment three of show 15

welcome back to segment three of show 15 so lightning round what’s the first

so lightning round what’s the first

so lightning round what’s the first question all right so Tommy ash is TV

question all right so Tommy ash is TV

question all right so Tommy ash is TV dead uh I’m gonna be sitting on a panel

dead uh I’m gonna be sitting on a panel

dead uh I’m gonna be sitting on a panel at digital hollywood this week where

at digital hollywood this week where

at digital hollywood this week where we’re going to be talking more and more

we’re going to be talking more and more

we’re going to be talking more and more about that no TV is not that TV did more

about that no TV is not that TV did more

about that no TV is not that TV did more revenue than ever last year TV still has

revenue than ever last year TV still has

revenue than ever last year TV still has the best programming TV carries news and

the best programming TV carries news and

the best programming TV carries news and sports etc etc TV is not dead I just

sports etc etc TV is not dead I just

sports etc etc TV is not dead I just think that in 10 years the companies

think that in 10 years the companies

think that in 10 years the companies that are the Viacom’s the news corp’s

that are the Viacom’s the news corp’s

that are the Viacom’s the news corp’s the NBC’s those companies will face the

the NBC’s those companies will face the

the NBC’s those companies will face the various degrees some of the same things

various degrees some of the same things

various degrees some of the same things that print and print and music companies

that print and print and music companies

that print and print and music companies went through but overall the same way

went through but overall the same way

went through but overall the same way that the advent of cable made total

that the advent of cable made total

that the advent of cable made total television consumption and advertising

television consumption and advertising

television consumption and advertising bigger I do think though that overall

bigger I do think though that overall

bigger I do think though that overall the overall consumption of content will

the overall consumption of content will

the overall consumption of content will just increase because now if I don’t

just increase because now if I don’t

just increase because now if I don’t have time to watch television pretty

have time to watch television pretty

have time to watch television pretty soon I will be able to watch it on

soon I will be able to watch it on

soon I will be able to watch it on demand on a tablet and the reason for

demand on a tablet and the reason for

demand on a tablet and the reason for that is that the gatekeepers like

that is that the gatekeepers like

that is that the gatekeepers like comcast and verizon are going to keep

comcast and verizon are going to keep

comcast and verizon are going to keep pushing the envelope to offer more to

pushing the envelope to offer more to

pushing the envelope to offer more to users because they they control

users because they they control

users because they they control distribution and they want offer more

distribution and they want offer more

distribution and they want offer more question number two so you always think

question number two so you always think

question number two so you always think about oh my god if you embrace

about oh my god if you embrace

about oh my god if you embrace technology you’re going to basically

technology you’re going to basically

technology you’re going to basically survive the early adopter through the

survive the early adopter through the

survive the early adopter through the early adopter but yet in fear in

early adopter but yet in fear in

early adopter but yet in fear in practice it’s almost the opposite case

practice it’s almost the opposite case

practice it’s almost the opposite case in point the San Jose Mercury News they

in point the San Jose Mercury News they

in point the San Jose Mercury News they adopted newspaper they adopted the

adopted newspaper they adopted the

adopted newspaper they adopted the internet really really early and they

internet really really early and they

internet really really early and they almost got crushed more than anyone else

almost got crushed more than anyone else

almost got crushed more than anyone else so why didn’t the Mercury News become

so why didn’t the Mercury News become

so why didn’t the Mercury News become this amazing model of embracing the

this amazing model of embracing the

this amazing model of embracing the latest shiniest gadget um you know I

latest shiniest gadget um you know I

latest shiniest gadget um you know I haven’t dived into them you know Mercury

haven’t dived into them you know Mercury

haven’t dived into them you know Mercury News case study deeply but I think what

News case study deeply but I think what

News case study deeply but I think what really killed newspapers early off

really killed newspapers early off

really killed newspapers early off whether they were early adopters or not

whether they were early adopters or not

whether they were early adopters or not was it was a complete lack of ad

was it was a complete lack of ad

was it was a complete lack of ad targeting for to a big degree the

targeting for to a big degree the

targeting for to a big degree the technology wasn’t really there yet but I

technology wasn’t really there yet but I

technology wasn’t really there yet but I think what they did wrong is they just

think what they did wrong is they just

think what they did wrong is they just tried to apply their their print ad

tried to apply their their print ad

tried to apply their their print ad sales model to online you know just sell

sales model to online you know just sell

sales model to online you know just sell out some real estate then they found out

out some real estate then they found out

out some real estate then they found out there’s only so much people are willing

there’s only so much people are willing

there’s only so much people are willing to pay for an impression and then they

to pay for an impression and then they

to pay for an impression and then they started you know

started you know

started you know as a result they see their website is

as a result they see their website is

as a result they see their website is not making very much money they treated

not making very much money they treated

not making very much money they treated it as this bastard redheaded stepchild

it as this bastard redheaded stepchild

it as this bastard redheaded stepchild and they don’t invest in doing more

and they don’t invest in doing more

and they don’t invest in doing more things but really what it came down to

things but really what it came down to

things but really what it came down to his lack of ad targeting with good ad

his lack of ad targeting with good ad

his lack of ad targeting with good ad targeting they could have diversified

targeting they could have diversified

targeting they could have diversified more mixed up impressions with cpa with

more mixed up impressions with cpa with

more mixed up impressions with cpa with CPC depending on who the user is and

CPC depending on who the user is and

CPC depending on who the user is and they probably could have done a little

they probably could have done a little

they probably could have done a little bit more symbiotic editorial now I

bit more symbiotic editorial now I

bit more symbiotic editorial now I realize newspapers are supposed to

realize newspapers are supposed to

realize newspapers are supposed to provide reporting and be objective but

provide reporting and be objective but

provide reporting and be objective but like let’s face it they’re arts and life

like let’s face it they’re arts and life

like let’s face it they’re arts and life section their auto section like these

section their auto section like these

section their auto section like these these are sections of the newspaper that

these are sections of the newspaper that

these are sections of the newspaper that can actually drive a lot of page views

can actually drive a lot of page views

can actually drive a lot of page views and they have a little bit more

and they have a little bit more

and they have a little bit more flexibility in terms of like the kind of

flexibility in terms of like the kind of

flexibility in terms of like the kind of editorial they deliver so yeah mostly ad

editorial they deliver so yeah mostly ad

editorial they deliver so yeah mostly ad targeting but because of the ad

targeting but because of the ad

targeting but because of the ad targeting they did invest in proper

targeting they did invest in proper

targeting they did invest in proper digital strategy because they didn’t see

digital strategy because they didn’t see

digital strategy because they didn’t see a return okay I’m not gonna chime on I

a return okay I’m not gonna chime on I

a return okay I’m not gonna chime on I am going to say this on an upcoming show

am going to say this on an upcoming show

am going to say this on an upcoming show we’re going to talk about craigslist the

we’re going to talk about craigslist the

we’re going to talk about craigslist the impact on newspapers how much of it is

impact on newspapers how much of it is

impact on newspapers how much of it is myth how much of it is fear mongering

myth how much of it is fear mongering

myth how much of it is fear mongering you know fud and how much of it is

you know fud and how much of it is

you know fud and how much of it is actually legitimately what Facebook did

actually legitimately what Facebook did

actually legitimately what Facebook did to newspapers okay so little mental note

to newspapers okay so little mental note

to newspapers okay so little mental note next question all right um so Mark

next question all right um so Mark

next question all right um so Mark Pincus did something interesting this

Pincus did something interesting this

Pincus did something interesting this week a sh do you think he was unethical

week a sh do you think he was unethical

week a sh do you think he was unethical for trying to waste trying to take away

for trying to waste trying to take away

for trying to waste trying to take away stock from his early employees so mark

stock from his early employees so mark

stock from his early employees so mark pincus is the CEO of Zynga one of the

pincus is the CEO of Zynga one of the

pincus is the CEO of Zynga one of the hottest companies out there mark pincus

hottest companies out there mark pincus

hottest companies out there mark pincus has already the unfortunate reality that

has already the unfortunate reality that

has already the unfortunate reality that there was a video of him like a couple

there was a video of him like a couple

there was a video of him like a couple years ago that came out about how much

years ago that came out about how much

years ago that came out about how much he talked about what unethical things he

he talked about what unethical things he

he talked about what unethical things he did to get revenue by basically you know

did to get revenue by basically you know

did to get revenue by basically you know violating users rights and all that and

violating users rights and all that and

violating users rights and all that and it was very embarrassing Tim so Mark

it was very embarrassing Tim so Mark

it was very embarrassing Tim so Mark Pincus that is context that he has a

Pincus that is context that he has a

Pincus that is context that he has a track record of really pushing the

track record of really pushing the

track record of really pushing the envelope but you know what the season

envelope but you know what the season

envelope but you know what the season and Wall Street love that kind of CEO

and Wall Street love that kind of CEO

and Wall Street love that kind of CEO they love the kind of CEOs cutthroat

they love the kind of CEOs cutthroat

they love the kind of CEOs cutthroat who’s going to do what’s best for

who’s going to do what’s best for

who’s going to do what’s best for himself in his company and his

himself in his company and his

himself in his company and his shareholders and could care less about

shareholders and could care less about

shareholders and could care less about you know how things look but to be fair

you know how things look but to be fair

you know how things look but to be fair here there’s what the market thought

here there’s what the market thought

here there’s what the market thought happened which was Mark Pincus telling

happened which was Mark Pincus telling

happened which was Mark Pincus telling his employees we’re going to take stock

his employees we’re going to take stock

his employees we’re going to take stock away from you because we want to give it

away from you because we want to give it

away from you because we want to give it to new employees and we don’t want to

to new employees and we don’t want to

to new employees and we don’t want to dilute let’s I don’t want to dilute as a

dilute let’s I don’t want to dilute as a

dilute let’s I don’t want to dilute as a CEO or the investors don’t want to

CEO or the investors don’t want to

CEO or the investors don’t want to dilute that’s really unfair and shocking

dilute that’s really unfair and shocking

dilute that’s really unfair and shocking or whatnot but what he actually said was

or whatnot but what he actually said was

or whatnot but what he actually said was there are some employees who have not

there are some employees who have not

there are some employees who have not vested

vested

vested all their stock let’s say you have stock

all their stock let’s say you have stock

all their stock let’s say you have stock that you earn over four year period

that you earn over four year period

that you earn over four year period you’ve been with Zynga for two years or

you’ve been with Zynga for two years or

you’ve been with Zynga for two years or you know the remaining two years of

you know the remaining two years of

you know the remaining two years of unvested stock you want you should give

unvested stock you want you should give

unvested stock you want you should give some of that back because you’re not

some of that back because you’re not

some of that back because you’re not performing the way we thought you were

performing the way we thought you were

performing the way we thought you were this is a very murky area it’s like

this is a very murky area it’s like

this is a very murky area it’s like lawyers go crazy right so as much as

lawyers go crazy right so as much as

lawyers go crazy right so as much as what he’s doing is unfair in the eyes of

what he’s doing is unfair in the eyes of

what he’s doing is unfair in the eyes of many and I would never personally do it

many and I would never personally do it

many and I would never personally do it it’s not what was initially reported in

it’s not what was initially reported in

it’s not what was initially reported in the media because nowadays people want

the media because nowadays people want

the media because nowadays people want to be the first to jump on the story and

to be the first to jump on the story and

to be the first to jump on the story and not report the facts that is not cool

not report the facts that is not cool

not report the facts that is not cool I’m going to just say listen mark zhang

I’m going to just say listen mark zhang

I’m going to just say listen mark zhang sorry margins inga mark pincus is Mark

sorry margins inga mark pincus is Mark

sorry margins inga mark pincus is Mark Pincus that’s how he is it shouldn’t

Pincus that’s how he is it shouldn’t

Pincus that’s how he is it shouldn’t surprise you and vc-backed companies

surprise you and vc-backed companies

surprise you and vc-backed companies don’t really care about anyone but the

don’t really care about anyone but the

don’t really care about anyone but the investors who put in the money not the

investors who put in the money not the

investors who put in the money not the shareholders who might have stock as

shareholders who might have stock as

shareholders who might have stock as employees and all that but the guys who

employees and all that but the guys who

employees and all that but the guys who put the money to me when I started

put the money to me when I started

put the money to me when I started watchmojo and this is like naive

watchmojo and this is like naive

watchmojo and this is like naive idealistic stupid you know innocent a

idealistic stupid you know innocent a

idealistic stupid you know innocent a sheer but I was like you know I’d like

sheer but I was like you know I’d like

sheer but I was like you know I’d like to start a company where I can you know

to start a company where I can you know

to start a company where I can you know be a certain way with clients and

be a certain way with clients and

be a certain way with clients and employees and you know what that’s I

employees and you know what that’s I

employees and you know what that’s I think naive and you know stupid

think naive and you know stupid

think naive and you know stupid basically that’s the real world what

basically that’s the real world what

basically that’s the real world what Mark Pincus is doing just got out stuff

Mark Pincus is doing just got out stuff

Mark Pincus is doing just got out stuff like that unfortunately happens at more

like that unfortunately happens at more

like that unfortunately happens at more or less every venture-backed companies

or less every venture-backed companies

or less every venture-backed companies it’s just the reality was on answering

it’s just the reality was on answering

it’s just the reality was on answering the question just because it happens and

the question just because it happens and

the question just because it happens and just because it makes sense from a

just because it makes sense from a

just because it makes sense from a business investment side is it ethical

business investment side is it ethical

business investment side is it ethical or not uh is it ethical it’s life’s

or not uh is it ethical it’s life’s

or not uh is it ethical it’s life’s unfair I don’t think it’s ethical I

unfair I don’t think it’s ethical I

unfair I don’t think it’s ethical I don’t share mark pincus moral compass

don’t share mark pincus moral compass

don’t share mark pincus moral compass but mark pincus is worth on paper let’s

but mark pincus is worth on paper let’s

but mark pincus is worth on paper let’s say five billion dollars I’m worth five

say five billion dollars I’m worth five

say five billion dollars I’m worth five dollars let’s say and I think it depends

dollars let’s say and I think it depends

dollars let’s say and I think it depends what is your objective in life if it’s

what is your objective in life if it’s

what is your objective in life if it’s purely to make money like you know it’s

purely to make money like you know it’s

purely to make money like you know it’s like there’s a class ad in college it

like there’s a class ad in college it

like there’s a class ad in college it was what’s the objective what’s the

was what’s the objective what’s the

was what’s the objective what’s the constraint if you wake up in the morning

constraint if you wake up in the morning

constraint if you wake up in the morning and your objective is make the most

and your objective is make the most

and your objective is make the most money possible let’s say for me it’s

money possible let’s say for me it’s

money possible let’s say for me it’s like build something that has value and

like build something that has value and

like build something that has value and the constraint is don’t be a dick you

the constraint is don’t be a dick you

the constraint is don’t be a dick you know I could step on the neck of many

know I could step on the neck of many

know I could step on the neck of many people clients suppliers employees to

people clients suppliers employees to

people clients suppliers employees to get an extra two dollars out of every

get an extra two dollars out of every

get an extra two dollars out of every transaction I like to go with what dick

transaction I like to go with what dick

transaction I like to go with what dick Parsons former chairman of Time Warner

Parsons former chairman of Time Warner

Parsons former chairman of Time Warner says which was when you negotiate leave

says which was when you negotiate leave

says which was when you negotiate leave something on the table

something on the table

something on the table other party if you always try to get

other party if you always try to get

other party if you always try to get every penny on the table well that other

every penny on the table well that other

every penny on the table well that other your counterparty won’t want to deal

your counterparty won’t want to deal

your counterparty won’t want to deal with you down the road so mark pink is

with you down the road so mark pink is

with you down the road so mark pink is we live in a world it’s a capitalist

we live in a world it’s a capitalist

we live in a world it’s a capitalist world vc’s markets everybody rewards

world vc’s markets everybody rewards

world vc’s markets everybody rewards that kind of behavior implicitly and

that kind of behavior implicitly and

that kind of behavior implicitly and explicitly it doesn’t matter if it’s

explicitly it doesn’t matter if it’s

explicitly it doesn’t matter if it’s unethical that’s the world we live in

unethical that’s the world we live in

unethical that’s the world we live in VCS are conditioning entrepreneurs to be

VCS are conditioning entrepreneurs to be

VCS are conditioning entrepreneurs to be bastards that’s the world we live in

bastards that’s the world we live in

bastards that’s the world we live in it’s not about ethics it’s that’s the

it’s not about ethics it’s that’s the

it’s not about ethics it’s that’s the world we live in so if you decide to

world we live in so if you decide to

world we live in so if you decide to play ball with VCS that’s the kind of

play ball with VCS that’s the kind of

play ball with VCS that’s the kind of stuff you have to do you know I wouldn’t

stuff you have to do you know I wouldn’t

stuff you have to do you know I wouldn’t do it do I think Mark Pincus is an

do it do I think Mark Pincus is an

do it do I think Mark Pincus is an a-hole I don’t know him would I do that

a-hole I don’t know him would I do that

a-hole I don’t know him would I do that no what does that do to morale doesn’t

no what does that do to morale doesn’t

no what does that do to morale doesn’t really help it the profile of an

really help it the profile of an

really help it the profile of an employee that joins you when you’re

employee that joins you when you’re

employee that joins you when you’re worth 20 billion is different than the

worth 20 billion is different than the

worth 20 billion is different than the employee that joins you when you got a

employee that joins you when you got a

employee that joins you when you got a piece of paper on a napkin you should

piece of paper on a napkin you should

piece of paper on a napkin you should treat those you should treat those

treat those you should treat those

treat those you should treat those employees differently but again I’m not

employees differently but again I’m not

employees differently but again I’m not anybody to tell mark part Pincus what to

anybody to tell mark part Pincus what to

anybody to tell mark part Pincus what to do I when you’re trying really hard not

do I when you’re trying really hard not

do I when you’re trying really hard not to offend him right I would love no

to offend him right I would love no

to offend him right I would love no here’s what I will say I would love it

here’s what I will say I would love it

here’s what I will say I would love it if Fred Wilson who’s the investor in in

if Fred Wilson who’s the investor in in

if Fred Wilson who’s the investor in in zynga to chime in on that but I’m pretty

zynga to chime in on that but I’m pretty

zynga to chime in on that but I’m pretty sure he won’t either you know again it’s

sure he won’t either you know again it’s

sure he won’t either you know again it’s a it’s a it’s a beautiful thing in life

a it’s a it’s a beautiful thing in life

a it’s a it’s a beautiful thing in life you you don’t have to agree with people

you you don’t have to agree with people

you you don’t have to agree with people and you know did litigation ultimately

and you know did litigation ultimately

and you know did litigation ultimately help the music industry I think

help the music industry I think

help the music industry I think litigations screwed the music industry

litigations screwed the music industry

litigations screwed the music industry Napster came out mp3.com came out they

Napster came out mp3.com came out they

Napster came out mp3.com came out they got sued they got shut down the people

got sued they got shut down the people

got sued they got shut down the people who are interested in this kind of

who are interested in this kind of

who are interested in this kind of technology said okay what were the legal

technology said okay what were the legal

technology said okay what were the legal terms of why you know Napster didn’t get

terms of why you know Napster didn’t get

terms of why you know Napster didn’t get away with it we’ll just find another way

away with it we’ll just find another way

away with it we’ll just find another way to doing it current peer-to-peer

to doing it current peer-to-peer

to doing it current peer-to-peer technology now the music industry has no

technology now the music industry has no

technology now the music industry has no choice but to go after like single mums

choice but to go after like single mums

choice but to go after like single mums which they’ve done to you know make an

which they’ve done to you know make an

which they’ve done to you know make an example ideal up to sue there you know

example ideal up to sue there you know

example ideal up to sue there you know well that’s it you know and you can’t

well that’s it you know and you can’t

well that’s it you know and you can’t sue every consumer out there so I think

sue every consumer out there so I think

sue every consumer out there so I think litigation ultimately screwed them I

litigation ultimately screwed them I

litigation ultimately screwed them I think you know maybe they should have

think you know maybe they should have

think you know maybe they should have played ball with Sean Parker and

played ball with Sean Parker and

played ball with Sean Parker and actually jump on the bag on a lot

actually jump on the bag on a lot

actually jump on the bag on a lot earlier they probably could have

earlier they probably could have

earlier they probably could have precluded the possibility of itunes if

precluded the possibility of itunes if

precluded the possibility of itunes if they done so who’s to say you know it’s

they done so who’s to say you know it’s

they done so who’s to say you know it’s in the past and we’ll never know but

in the past and we’ll never know but

in the past and we’ll never know but yeah I think litigation screwed them

yeah I think litigation screwed them

yeah I think litigation screwed them pretty hard email the week email the

pretty hard email the week email the

pretty hard email the week email the week Baltimore not too many blue moons

week Baltimore not too many blue moons

week Baltimore not too many blue moons come from Baltimore Ansel is that how

come from Baltimore Ansel is that how

come from Baltimore Ansel is that how you pronounce it and pencil it Ansel

you pronounce it and pencil it Ansel

you pronounce it and pencil it Ansel from Baltimore I’m guessing but yes I

from Baltimore I’m guessing but yes I

from Baltimore I’m guessing but yes I hope so sorry Ansel do you need to be in

hope so sorry Ansel do you need to be in

hope so sorry Ansel do you need to be in New York or San Francisco or

New York or San Francisco or

New York or San Francisco or major city to do a digital media or tech

major city to do a digital media or tech

major city to do a digital media or tech startup I actually went to college with

startup I actually went to college with

startup I actually went to college with an Ansel but he wasn’t from Baltimore do

an Ansel but he wasn’t from Baltimore do

an Ansel but he wasn’t from Baltimore do you need to be in New York or San Fran

you need to be in New York or San Fran

you need to be in New York or San Fran or LA or any major city to do it media

or LA or any major city to do it media

or LA or any major city to do it media or tech startup I think you could start

or tech startup I think you could start

or tech startup I think you could start a company more or less everywhere but to

a company more or less everywhere but to

a company more or less everywhere but to scale it you do need to be in a big city

scale it you do need to be in a big city

scale it you do need to be in a big city I don’t care about what technology does

I don’t care about what technology does

I don’t care about what technology does and this and that I’ll give you a couple

and this and that I’ll give you a couple

and this and that I’ll give you a couple of examples so we started the company in

of examples so we started the company in

of examples so we started the company in Montreal Montreal it’s great city it’s

Montreal Montreal it’s great city it’s

Montreal Montreal it’s great city it’s great to start it lots of talent here

great to start it lots of talent here

great to start it lots of talent here you know you see everybody loving it

you know you see everybody loving it

you know you see everybody loving it shouting you know shout out to the city

shouting you know shout out to the city

shouting you know shout out to the city but like when Google and YouTube

but like when Google and YouTube

but like when Google and YouTube basically forked over a hundred to two

basically forked over a hundred to two

basically forked over a hundred to two hundred million dollars to content

hundred million dollars to content

hundred million dollars to content producers you know there is merit if you

producers you know there is merit if you

producers you know there is merit if you are in their face and you run into the

are in their face and you run into the

are in their face and you run into the people who make those kind of decisions

people who make those kind of decisions

people who make those kind of decisions at the cocktail parties and the after

at the cocktail parties and the after

at the cocktail parties and the after party events and all that and I think if

party events and all that and I think if

party events and all that and I think if you’re not you know out of sight out of

you’re not you know out of sight out of

you’re not you know out of sight out of mind if you’re not in front meeting

mind if you’re not in front meeting

mind if you’re not in front meeting people running into people stumbling

people running into people stumbling

people running into people stumbling into people you do miss out on a lot of

into people you do miss out on a lot of

into people you do miss out on a lot of opportunities but at the end of the day

opportunities but at the end of the day

opportunities but at the end of the day I think the beautiful thing about the

I think the beautiful thing about the

I think the beautiful thing about the web is you should probably set up your

web is you should probably set up your

web is you should probably set up your company where you’re going to find

company where you’re going to find

company where you’re going to find talent you know so for us being in the

talent you know so for us being in the

talent you know so for us being in the media creative space I think I lucked

media creative space I think I lucked

media creative space I think I lucked out or I mean I don’t say it was part of

out or I mean I don’t say it was part of

out or I mean I don’t say it was part of the vision I think I lucked out to be

the vision I think I lucked out to be

the vision I think I lucked out to be set up in Montreal there’s a lot of very

set up in Montreal there’s a lot of very

set up in Montreal there’s a lot of very creative people if I would have been a

creative people if I would have been a

creative people if I would have been a tech company you know I think then yeah

tech company you know I think then yeah

tech company you know I think then yeah you might need to be a now here’s the

you might need to be a now here’s the

you might need to be a now here’s the irony even in tech it’s harder to hire

irony even in tech it’s harder to hire

irony even in tech it’s harder to hire in San friend than it is saying Montreal

in San friend than it is saying Montreal

in San friend than it is saying Montreal right so so times have changed but I do

right so so times have changed but I do

right so so times have changed but I do think though that if you really want to

think though that if you really want to

think though that if you really want to build like a multi-billion dollar

build like a multi-billion dollar

build like a multi-billion dollar company then you do need to be in like

company then you do need to be in like

company then you do need to be in like the center of capital and the center of

the center of capital and the center of

the center of capital and the center of your field so New York or San Fran or LA

your field so New York or San Fran or LA

your field so New York or San Fran or LA so you could set it up anywhere but you

so you could set it up anywhere but you

so you could set it up anywhere but you do need to move very quickly or at least

do need to move very quickly or at least

do need to move very quickly or at least have some kind of representation yep

have some kind of representation yep

have some kind of representation yep alright so that was this week’s show

alright so that was this week’s show

alright so that was this week’s show show number 15 and we’ll be back next

show number 15 and we’ll be back next

show number 15 and we’ll be back next week same time same place

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