00:00:00
blue Sky's growth doesn't appear to be
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stopping with a platform Crossing more
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than 21 million users keeps adding a
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million users a day while the threads
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has five times more daily active users
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in Blue Sky ahead of the election that
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lead has now been reduced to 1.5 times
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Accord according to similar web so
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people are really using it meta uh now
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seems to be feeling the heat introducing
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new features suddenly oh competition
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brings Innovation and copying including
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custom feeds around topics or people
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mimicking blue Sky's capabilities Adam
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misseri the head of instagam seem to
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downplay Blue Sky numbers sharing that
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threads is more than 50 million signups
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in November alone agreed threads have
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been seeing a million new users a day
00:00:37
for the last 3 months agreed but it's
00:00:39
very exciting that a young that a small
00:00:41
little little thing is doing really well
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um Blue Sky financials Blue Sky was
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initially launched as a spin-off of
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Twitter under Jack dorsy the company has
00:00:49
since cut ties with him that was
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interesting kicked his ass out now
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majority owned by its employees so uh
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talk about the surge first Scott and
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then I'll talk a little bit more about
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financials I've been contacted by so
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many
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very wealthy people about investing in
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this thing and very big names that
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people I like actually um who are
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meeting with them and talking to them so
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thoughts very first on the Surge and
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then I'll get to the um investment soon
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you know more about this than I do I
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just got on it's the hottest new product
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introduction and I know that's not it
00:01:19
didn't happen in 2024 but this is the
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hottest new product in Tech right now no
00:01:25
doubt its user base has gone from 30 13
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million to 23 million in Just 2 weeks
00:01:30
its usage its daily active usage is now
00:01:32
greater than threads this is the hottest
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product in Tech right now and what I
00:01:37
would ask you i' would flip it back to
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you and is that in it's one simple
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question why uh well you know I think
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it's fun it's actually fun and look I
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don't think you have to necessarily
00:01:46
choose I like both I really do like
00:01:47
threads I I said when Amanda was joking
00:01:51
about it she said um blue sky is like
00:01:53
the coolest bar you've ever been to and
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why are you over at the Cheesecake
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Factory and I'm like the cheesecake is
00:01:59
Del delicious like I you know I think
00:02:01
that's probably right a good metaphor um
00:02:04
I I like it's better for Mar threads is
00:02:06
better for marketing my stuff honestly
00:02:08
and actually has a nice Vibe too and
00:02:11
it's a little more like Instagram with
00:02:13
text you know like I can see like I
00:02:16
don't find the really funny videos that
00:02:17
I like I I find them on threads much
00:02:20
more like I know it sounds dumb chopping
00:02:22
up food in creative ways or doing kind
00:02:25
of cool karate moves or there's one I
00:02:28
just pushed where a guy let me look at
00:02:30
it on threads um the top of my feed um
00:02:34
it's a guy who mastering the art of
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camouflage to disappear in any setting
00:02:38
he's a artist who camouflages and then
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stands in front of things I wouldn't
00:02:42
have found that on Blue Sky I would be
00:02:44
uncool so I'm fine with that but I do
00:02:47
like it they're much funnier people they
00:02:50
are assembling a news forward group of
00:02:52
people a lot of journalists a lot of
00:02:54
Pauls are coming over they're
00:02:56
replicating that part of Twitter the
00:02:57
news feeling and that's something that
00:03:00
threads had pushed away from which is
00:03:02
now they're now moving back letting
00:03:04
people choose politics if they want like
00:03:06
politics and news they were very much
00:03:09
against it and so you Days Later you'd
00:03:11
see things that happened days before so
00:03:13
I think blue skies grabbed that and I
00:03:15
think that's why they're doing well
00:03:17
because some people like news out of
00:03:18
these things some people like
00:03:19
entertainment out of them and so um I
00:03:22
think and it's so it feels it feels like
00:03:25
old Twitter but not in a toxic way I
00:03:28
don't think it's an echo chamber by the
00:03:30
way guess who's building the echo
00:03:32
chamber Elon Musk is building an echo
00:03:34
chamber over on over on his service and
00:03:36
to pretend otherwise is ridiculous I
00:03:39
mean one of the stories that just came
00:03:40
out is that how he's he's he's
00:03:43
minimizing um uh links to news links to
00:03:48
uh stories so that people don't get to
00:03:50
see them he's creating an echo chamber
00:03:52
too and that's what some of these things
00:03:53
are but I like them both I like them
00:03:55
both so let me ask you about the money
00:03:58
part though um they've raised 15 million
00:04:00
in series a funding back in October and
00:04:02
then there's already interest uh in a
00:04:04
new investment round I again I've heard
00:04:06
from lots of people the CEO has said the
00:04:08
platform is billionaire proof because
00:04:10
it's not one centralized feed of content
00:04:12
it's a protocol from which endless feeds
00:04:13
can be created you can also take it with
00:04:15
you and again this Echo chamber I don't
00:04:18
I think it's a nothing Burger but talk
00:04:20
about why you would or would not invest
00:04:22
in
00:04:23
this oh I mean you're talking to a guy
00:04:26
who invested in post post yeah you and I
00:04:29
did uh look there's social
00:04:33
media why would you do it to make money
00:04:36
and there there is an enormous the the
00:04:40
rivers are
00:04:41
reversing all the money that's gone into
00:04:44
traditional media that the weird thing
00:04:46
about media spend is it is arguably the
00:04:49
most resilient business in the world for
00:04:50
about a hundred years advertising or
00:04:53
media spend or ad supported media has
00:04:56
been approximately 1 and a half% of GDP
00:04:58
in a recession that goes 1.4 because
00:05:01
what a lot of people I'll go back here I
00:05:02
got named Tyler Johnston the CMO of
00:05:05
dryers he was my first client out of
00:05:08
business school from my brand strategy
00:05:09
from profit we went into a recession it
00:05:11
was 92 and he said we're increasing our
00:05:14
ad spending because this is just as all
00:05:16
the bigger players are pulling back this
00:05:17
is a unique opportunity for us to grab
00:05:20
share at a lower price because ad rates
00:05:22
have come down so generally speaking
00:05:25
media spending is incredibly resilient
00:05:27
but it never goes that much greater or
00:05:29
that much lower what's different is
00:05:31
where the money goes grabs the grabs
00:05:34
right oh my gosh and the amount of
00:05:35
capital still up for grab you we talk
00:05:38
about CNN CNN still does a billion
00:05:42
dollars I mean there's a lot of money
00:05:44
still up for grabs here and now there's
00:05:46
going to be up money up for grabs among
00:05:48
the bigger players and when you have an
00:05:50
entity like that if they rais money at a
00:05:52
valuation of 15 million that probably
00:05:54
means it was sub a billion you don't
00:05:57
raise 15 million on a billion you don't
00:05:59
you don't you don't issue one and a
00:06:01
half% increase in shares that probably
00:06:03
means it was at somewhere between 50 and
00:06:05
200 million oh my gosh I mean I'm
00:06:08
immediately thinking does Caris swisser
00:06:09
know this guy because I want him to open
00:06:10
up the R so I I can get in it's run by
00:06:13
women but go ahead this is this is this
00:06:17
is a company they will do I wish this
00:06:20
was predictions day they will raise
00:06:22
round They will announce around in the
00:06:24
next 90 days if not sooner at a billion
00:06:27
dollars plus this is the hottest
00:06:30
product in the hottest category in the
00:06:32
world and that is a media company that
00:06:34
can
00:06:35
scale um uh that has network network
00:06:38
like scaling ability and everybody is
00:06:41
talking about it uh so yeah why would
00:06:44
you invest so you could make a [ __ ] ton
00:06:45
of
00:06:46
money yeah I would I would think so I
00:06:48
think they're trying very hard um to to
00:06:52
make sure that it's um that that it's
00:06:56
that that people know people can take
00:06:58
their things with them um the CEO was a
00:07:01
woman Jay Graber has been an advocate of
00:07:03
decentralization empowerment so they
00:07:06
you're going to get what what um that
00:07:10
kind of attitude towards it it's not
00:07:11
here for you know very heavy privacy
00:07:14
rules they love moderation they toss
00:07:17
people off they feel it's a whole
00:07:19
they're creating a whole different thing
00:07:21
censorship oh stop it let me say let me
00:07:25
spread misinformation and if
00:07:28
anyone there's story after Story content
00:07:31
that I don't like that's not censorship
00:07:34
that's correct thank you um so um so
00:07:37
that's really interesting and then the
00:07:38
COO is a woman it's woman run it's woman
00:07:41
run but it's not like Precious in any
00:07:43
let us in there king of the king of the
00:07:46
woman Amazonia slash subu loving slash
00:07:50
isn't that Goode for the right man
00:07:51
wasn't around at the right time oh that
00:07:52
was wrong you know what I like the best
00:07:54
they were going to make it as a sub
00:07:56
brand of Twitter and they and Jay
00:07:58
refused and and then it was spun out and
00:08:01
then they jumped Jack dorsy that's my
00:08:03
favorite part of the whole equation I
00:08:05
love it like I like ja who speaks in
00:08:07
those those hush tones strange could
00:08:11
easily build the biggest beard oil
00:08:13
product in the world I I'm going to give
00:08:16
you the sense that I give a flying [ __ ]
00:08:18
about the world like Sam mman because I
00:08:19
speak in hush measured tongues that's
00:08:21
true go check out some of the stuff he's
00:08:24
been putting out there it's a little
00:08:26
strange in any case we love Blue Sky
00:08:28
it's great and Amanda you're right at
00:08:30
the same time I do like threads I'm
00:08:31
sorry I'm not going to have I don't have
00:08:33
to things I like I like if I feel good
00:08:35
after using a product I like it and I
00:08:37
know it's Mark Zuckerberg but I like
00:08:39
what they've done there and and it is
00:08:41
like threads it is a it is a um a
00:08:45
Cheesecake Factory I'm fine with that
