My name is Brandon and
I’m social media manager for a digital magazine app in
mid-town Manhattan called Zineo. Looks a little
something like this. My question for you is how do
we leverage content from 5000+ magazines to throw jabs at
a millennial customer who’s attention is typically
away from magazines? Thanks so much for your answer. You keep answering questions,
I’ll keep asking them. – Brandon, I have
a couple things. One you’re avocado ambassador, I need to figure out
what that means. You’re also a Mets fan but
I didn’t see any Jets love and I’m very concerned that you might be one of
those rare people that are Mets and Giant fans
who I hate oh so much. I didn’t fully get the
context of the question. I’m not sure if you guys got it. Obviously, you guys picked it. I didn’t fully understand what the objective
was of the magazines. Was he referring to how we
make micro digital context that actually gets people to
care about a magazine? Meaning like buying a
subscription to a mag, I mean actually I’m very
curious while we’re here, where is your
magazine life right now? Andy K?
– [Andy] Zero. – Zero?
– [Andy] 100% – [Gary] Nothing.
– Nothing. – [Gary] Zero.
– Zero. – [Gary] Dunk?
– 5%. – [Gary] What magazine
would you consume? – Back home from Sweden. – [Gary] Swedish
magazines that you read? – Fashion magazines, yeah. – [Gary] That you’ll at? – Look and read. – [Gary] So that comes to
your home and you’ll do that? – Yes. – [Gary] And that’s 5% of your
world you think is your gut? – 2.5, yes.
– [Gary] 2.5, got it. DRock?
– [DRock] None. – Zero. Other Tyler? – [Other Tyler]
Maybe like 2 or 3. – Like what do you consume? – [Other Tyler] Like photography and design
magazines a little bit. – You’ll flip
through it a little bit. – [Other Tyler] Yeah. – How about compared
to 24 months ago? Even less?
– [Other Tyler] Yeah, even less. – Dunk, compared to 24
months ago even less? – [Dunk] Same.
– Same. India? – I subscribe to a couple.
– [Dunk] No, less. – Less. Less. India? – Same, a couple.
– What do you have? – The New Yorker and
then like an art magazine. – Playgirl?
– No. (laughter) Why do you tease me? – ‘Cause I like you. So, the New Yorker? – Yes. – And do you read that?
– Yeah. – And, it’s not just collecting. Do you think you read as much New Yorker today as you did
24 months ago? 36 months ago? – The same. – ‘Cause there’s a
scenario where you like it. Like, weekend morning
coffee kinda thing or? – Subway magazine. – Perfect subway
magazine, got it. Look, I think, that’s obviously
a small focus group, (Gary stammering) and I don’t know Brandon so
that where I’m gonna have to go. If you’re talking about the
notion of what kind of content can we put out, jabs, in an
ecosystem that is going to get millennial’s excited about then
going in to the magazine world and subscribing to a magazine,
I think it’s a lost cause. I really do and I think the
magazines that have anybody’s attention right now, I bet you
if we could take these three wonderful people’s brains and
put them here and dissect how they cared about the
photographer magazine, the New Yorker and these Swedish
magazines it had a lot more to do with those brands did to them 10, 15 years ago
and that’s the problem. They thought those were cool magazines when they
were in junior high. They were around in the house. The New Yorker
is an iconic thing. I think it’s a very difficult
proposition and as digital and mobile devices have become
more magazine-ized A.K.A. photos have become such a
foundation of the way we consume the internet versus written
words of a decade ago I think you’re fighting an
uphill battle, my friend. – Sometimes you got to
hear that, you know?

what would you do with it? How would you change how it
delivers news/earns revenue?” – If I own a small newspaper I
would hopefully own one that had big brand equity even
though in a small market. So even if it’s Bethlehem,
Pennsylvania if it’s the Bethlehem Times or
whatever the local paper, actually the Easton Express. Isn’t that their paper
there, the Easton Express? – [Staphon] Oh yeah. – Do you know the
Easton Express though? – [Staphon] Yeah, yeah, yeah.
– There is an Easton Express. So if I owned the Easton Express
that’s a very important thing in that part of Pennsylvania and I
would turn the equity and this is where Jeff Bezos was
brilliant with buying the Washington Post he didn’t
buy it for the print, he bought it for the brand. And to the Easton Express to
that small area of Pennsylvania matters quite a bit for Lehigh
Valley and I would try to make the digital modern version. Today, I would make an app that
is the absolute news app of the moment, notifications driven. I would digitize the IP and try
to milk the print revenue for as long as I could but I would
assume zero print revenue in a 10 year window all IP value being shifted into
something else. Same reasoning 92nd
St. Y is so insane. Do you know how this played out? You know how I talked about
Nintendo at 92nd St. Y and a month later they announce
that they were going to do it. A lot of people
were like you knew? Yes I’m that wired in. CEO of Nintendo’s hitting me up. That’s what I would do. Nintendo smartly finally has
understood that they’re going to take the IP and take it
to the relevant place. That’s what I
would do a newspaper. I would take the IP and I would
take it to and relevant place. I would also create
revenue around event marketing. Instead of taking advertising in
my print, I would take one full page to invest in my
own events business. Like the Fall Festival. And I can use the newspaper and
its awareness to build up this events driven business and every
year in Philipsburg, New Jersey there’d be a Fall Festival
for the Lehigh Valley of Pennsylvania and New Jersey area
and so I would siphon the waning attention and I would deploy
it into new environments like digital content and other
revenue streams like events. That was tangible and tactical. And really maps to
everything outside. I think of everything in IP
transfer to the modern world, not just the newspaper. So if about a 1980s
cartoon IP, the Wuzzles,

“of tech companies using
billboards to advertise? “Slack, Snapchat, Yahoo!,” et cetera. – Um. God, I’m a bad mood. (laughter) Evan, you’re seeing that
because, first of all, you should never put 100, and by the way, I speak
in absolutes on this show, so please let me use this moment, especially for the people
that catch this episode, or watch every show, contextualize this. I love to talk definitively,
’cause I don’t think people take action, and I think
it takes definitive stances to kind of move the needle. But there’s no situation
where 100% of actions is the right thing. There’s always a proper
hedge to everything. I really, really do believe
that, in your execution, and so in marketing,
when you’re in a Yahoo!, or a Slack, or a Snapchat, and
you’ve gotten to that scale, and you have that much
money, in marketing budget, there’s only so much you can allocate to 100% Facebook, 100%
Instagram, 100% digital. And when there’s these
big consumer brands, there’s a demo from, call it
the 45 to 75-year-old demo that people, like Snapchat
wants 45-year-olds to use Snapchat. Like that’s just straight up. And definitely Yahoo!,
it’s a mature brand, and Slack, is a SAS enterprise software that, you know, 52, 49, 63. I mean James Orsini, who’s in his 50s, is an executive at VaynerMedia, he’s helping make a decision
if we’re gonna use Slack, along with AJ and things of that nature. And they want that demo to be educated, and their belief is that
billboards is a place to play that. Look, I’m not high on billboards,
I think they’re overpriced because I think people are
looking at their mobile devices, but they’re not worth zero. And if you know that you’re going in and you’re gonna spend $7000
on this billboard a month, and you think it’s only worth 2300, but, that 2300, value is worth it to you, paying 7000, follow me here. Then that’s the right thing. Like, you know, that’s it. I mean, you know if it’s worth
spending $1000 on a dinner with the prettiest girl you
ever went on a date for, for the ROI of a kiss, if
you decided that the kiss was worth 1000, well then it’s worth it. And that’s what I think
on billboards, which is, you know, if they decide it’s worth 7000 even though they know
that they’re overpaying, well then that’s what you do. And so I think you’re gonna
see more television commercials for that reason from internet companies. You’re seeing it with Airbnb and Uber. When you saturate one medium, you have to go to another place
where you get more upside. Once you crush digital
like those companies have, overpaying for traditional
has more value to you. So it’s the timing in
which those companies deploy the media. They didn’t start at that place. They first got a better ROI. You’re getting all these
people digitally for, call it eight bucks a
head, 18 bucks a head. Well, now it’s startin’
to cost us $38 a head ’cause we’ve gotten everybody
and we can’t get no mores. So we’ll go over here and we’ll pay 52, because at least we can get new people, and it’s now worth 52 for us. That’s why. That was really good, considering,

– Good, what’s cooking? – I’ve seen this Extra
commercial trending everywhere. – The Extra commercial,
the gum commercial, yes. – How do you foresee cinematic commercials within a social space? – I think the reason the
Extra commercial’s doing well is ’cause it’s a good piece of content. It’s a beautiful love story played out. The brand is integrated
smartly, and not forced, and I think Facebook is the environment to produce video for, and that’s why we’re seeing it do well. There’s been great love
stories executed on television, but if that ran on TV, I don’t know, do you know how long it is? Two minutes? – I don’t know. – It’s longer than 30 seconds, right? – The song is just catchy.
– [Gary] If they did it during the Super Bowl,
or during the MTV Awards, and blocked off the time, and ran it, it would be like, “Aw, that was nice.” It wouldn’t be like this,
’cause people are sharing it, passing it on. This is the kind of work I
wanna be doing at Vayner. This is the kind of work that I think people are gonna be forced into. In a world where people
don’t wanna watch prerolls or commercials, brands are
gonna have to find ways to actually make great stories, and actually integrate their
brand where it’s not forced. It’s not like this is our show, and this was a bottle company we had, and we’re like, “Oh, I’m
just answering your–” It’s actually part of it. I think it’s an absolute preview
to where things are going. We’ve seen things like this on YouTube. I think the power of
Facebook is the targetting and the shareability that is extreme. So I’m excited about it. – Yeah, me too.
– [Gary] Good, great question. – Thank you.
– [Gary] Awesome. – Ben, over there.

– Oh, hi, how you doing, Gary? – I’m from Edison, New
Jersey, your hometown. – I love that, what’s your name, bro? – My name is Alex Romero. – I love it.
– [Alex] I’m an app developer. I’m currently working
on an app called Haptap which is for happy hours. – Okay. – But the big question I have for you is more related to billboard marketing. Are you behind the Tom hashtag Tom Shady? You’re a fuckin’ genius. – I wish I could take credit for that Tom Brady hazing
billboard, but I’m not. But thank you so much for
bringing up that question so that we were able to
talk about it here today. I want the loudest claps for that, man, except for the two Patriot fans here. (audience cheering)

– [Voiceover] Rocky asks,
“What’s your opinion “of Nielsen ratings and how do you “benchmark traditional versus social media “success for big brands?” – Rocky, this is a great
question as you can imagine, this is the world I live in, I do think that all reporting, if
it’s not black and white and quant, hold on, Tim
is like being weird. Come here, look at, what? (laughter) Are you all right? – Yeah. – Good. So, you know, traditional
metrics, you know, reporting versus black
and white quantifiable data on the back end are very different. Attribution models done on the web, the whole way where you
can see the whole funnel, you can take more in that
than you can the reporting, and whether that’s
reporting from traditional, like TV Nielsen’s, or
even digital reporting, like there’s plenty of digital reporting. And so you gotta look at ’em differently, and look, I’m a very big believer in branding and marketing,
what are called qual data, and so to me that stuff’s very important, and I believe in brand. I don’t look at the hardcore
quant data of this show, I think I’m building
brand, I’m bringing value. Over the last several episodes, I felt an absolute uptick
in my Twitter stream, and the Instagram comments
of the show’s getting good, I’m bringing, you know,
literally in the last week, anecdotally, not hardcore data, I’ve seen like 13, 14
people tweet or Instagram about like, how the more they go into my rabbit hole of content, the more value, or like he’s really hitting his stride, so I can feel it. It’s like a branding thing. Like I can feel this
show and the last show and the last show, like
we’re taking it up a notch a little bit as we head into the crescendo that is episode 100. And so I think they both matter. If I’m looking at data, I’m
gonna look for something as pure as possible, and so in general, digital stuff attracts me more. But I think there’s a place for both. – Hey Gary, what’s a
good place to get pizza?

Cheers, top of the morning to ya. And I have a question because I look like Al Pacino after a bender. I am launching the Tim Ferriss Experiment and it is a hell of a thing. (laughs) How do you think television
shows will be launched two years from now? Both in terms of distribution and in terms of commercial? That is my question
because there’s gotta be many better ways (laughs). Thank you. – Tim, great to have you on the show. I know so many of the
people in the VaynerNation are huge fans so that’s a lot of fun. I’m sure a lot of you enjoyed that. And everybody in the VaynerNation should actually check out Tim’s Tim Ferriss Experiment on iTunes. Staphon let’s link that up and YouTube. And I’m sure it’s easy
to find for all of you that are listening on the podcast and on Facebook, if you’re watching. Can one of you maybe jump in with a quick comment up when this episode pops up on Facebook and link to iTunes? Tim Ferriss Experiment. Timmy, I think that a
couple things will happen. One, I think there’s gonna be a crap load more over
the top services, right. So, you’ve got Netflix but
I think you’ve got Vimeo starting to make some noise. I expect a lot of traditional,
old-school digital leaders to get in this game. Microsoft’s gonna have to be in this game. Yahoo!’s gonna have to be in this game. I think, Snapchat is clearly
a television network. I think Facebook in a lot
of ways goes that route. I think everybody that
can own video is gonna try ’cause all the money’s there. I think launching it will happen in the way that you’re
doing it now, right? You’re asking this question
in a micro community, where I’m now giving exposure to it. And so the days of going to the Today Show or running commercials on a big show. Or trying to get print or
radio like campaigns going, there’s now all these fragmented societies and niches, Facebook dark posts. Making infographics for Pinterest. Getting a ton of Instagram’s influencers, having me on Mike’s show. I’m sure you’re probably
hitting the podcast circuit tremendously hard. You’re probably gonna
show up on 15 podcasts over the next week or two. Which is something you wouldn’t
have done 24 months ago. And there will be five
to seven other things that none of know has the
attention of the consumer. Maybe an app that comes
out on the watch, right? There’s so much coming. And so, here’s what I can tell you. I don’t predict, I react. But I do know this, in 24 months, there
will be some new shtuff. Shtuff. I almost said shit and then stuff. Shit and stuff means shtuff. That’s how it comes out of my mouth. Question of the day.

– [Voiceover] Rodolfo asks
“Do you have a business card? If so can we see it?” – Rodolfo I do not have a business card. A business card in 2015
makes absolutely zero sense. A business card delivers information. Take out your (beep) phone and
email the person on the spot. Better, cleaner, never
lose the business card. More efficient, it’s
right I like to show them, is this your email? Good, good, good. Like pchtaw.
(laughing)

– Lewis asks “Where would
you start in building a digital team within a
traditional TV or print agency?” – Lewis there’s an interesting
thing that I believe in very much which is you are what
your actions show you are. It’s very similar, I’m probably
affected by Bill Parcells, in football legendary hall
of famer coach Bill Parcells former Jet coach always said
you are what your record says you are because everyone’s
like we’re eight and eight but we could have been 10
and six if we you know, but at the end of the
day you are what you are. Thanks Mike. It’s very easy to create
a digital practice within a traditional print or direct
mail, outdoor media or PR. All these agencies now have
to shift into the world that we’ve created because
that’s where the dollars and the momentum and where
the story telling is going. This video will be consumed
a hell of a lot more in YouTube and Facebook
native than it will as a pre roll pop up somewhere. And so I think it’s super
important that you understand you are what your actions say you are. Meaning it’s very easy, go out
and hire seven to 12 people that work in digital social,
bring them into your department and now you have that capability. Now the key for the CEO or
the chairman of the board, her and his job is to
really integrate that new, we’re going through it now
VaynerMedia has a new live division called VaynerLive,
it’s live events activation. It’s not what we’ve historically done. It’s activating at Coachella or South By or things of that nature. And we’re six months in and
we still have to integrate it into the business but we brought in Robert and other people that have
done that work in the past. Now we have the skill set. Now how does that practice mold in to the whole organization? That’s the tricky part, that’s
where dictatorship comes in. That’s where letting things happen the way they have to happen. I’m a big fan of letting things
lie so I’ve stayed hands-off for the first several
six and a half months. Now maybe I feel like maybe
like I’ll get my hands in a little bit dirtier
just get it molded in. Leadership is knowing when to
listen, knowing when to talk. Knowing when to take a
step back, knowing when to jump in and integrate it. But the commodity of
hiring people that have the skill set to do the
work, it’s out there. It’s just making the
leap to decide to do it. – Andrew asks “Do you plan
on embedding Facebook videos

– Hey Gary, here’s my question,
when will social marketing spending be bigger than
television commercials? – Fred, great question. First of all, if you guys
don’t know who Fred Wilson is, then you know nothing
about the startup in the VC community in New York or the world. One of the great VCs of all time, Fred. I don’t like you for that,
I like you because you’re a Jets fan. We got Revis, can you believe it? So, Fred, great question,
I appreciate you asking it. My gut answer, and I’m going
to use social as current digital platforms, let me explain why. My answer to that question
is somewhere in the ballpark of 35, 20, 22 years, long, and by then, I don’t think we’re going to be calling them
social networks, we’re going to evolve to whatever
they are, but digital is eating up a lot of TV,
but the web’s been around for 20 years, the consumer
web, since 95, and banners and email, and Google adwords,
they’re still not making an enormous dent against television. Now we’ve got over the top. My prediction is 22 years because all these things take longer. I also think advertising in
general is gonna change and the money is gonna go into
content and it’s all going to be native and interwoven much more, but you know, I’m not sure if
I’m right about the year– 22 years out, 2037, but what
I will tell you is this Fred, that the TV commercial
industry is in the early stages of looking very similar to the
late years of the newspaper advertising world. It was Craigslist that
really was a very important, kind of watershed moment
to the death of newspaper advertising, and I believe that it is Netflix that is the same
to the TV commercial world, because as everything
starts going over the top, and people don’t want
to consume commercials, and really you could even
say DVRs, right TiVo, probably was the first
precursor to it, but we’re well on our way, you know, question of the day, how many people in this room actually watch television commercials? and I don’t mean this room, I mean the people that are watching, I mean Meerkat, give it to me right now. Everybody’s watching when
they want, how they want, outside of live TV shows,
which are basically live result shows, awards shows, and
sports, guys without sports the TV industry would be in
such a different, different, different place. I asked my question of the day.