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Hi James How're you much better much better we? We actually tried to buy gas couple of weeks ago and I was. I was a little busy just kind of all over the place. It's like I can't it but we're back. I like to compare it to win. You're going through your IPO. And I think we tried to podcast wants Dan and we also can't it because it just wasn't happening and life comes and goes you're busier. Us busy and I was a little busy but not market. Yeah we'll welcome back. It's good to have you back. There are a few interesting episodes last time we tried. But I'm glad to be back at regularly scheduled programing. Yes yes absolutely absolutely. It does make the question. Then why are you so busy? Yeah well it's funny because I watch the new podcast service a couple of months ago with the Czech restarted daily updates whereas basically me reading it and that was part of the date updates if you already paid for the daily update you could also get a via podcast so there was a lot of interesting technical parts to that too. You have it tied in tracking and in all the different sorts of things that went into that but it was a station to my sustained business model but it wasn't something new so what I also want to do. Experiment with what would it be like to make purely paid podcast and again part of this is I was really proud of my talk about this? And how does trajectory is? I'm proudest of course but I'm also really proud of the business model and it really makes me happy to see folks pursuing this model and going forward and companies you know like sub stack wherever might be trying to build businesses supporting people winding this. I'm all for it for support of love to see them doing that. It's kind of one of those things where I once thought I would build a company like subject and then I realized actually I'm better off focusing on Chakri billion companies really hard. It's difficult Howard stern rather than Siriusxm. Some of those lines and it was gratifying to come up with this model. And then it's Kinda cool that anyone other people will invest in these folks to do all the hard work to build it up so other people can do it. Which is totally fine by me. I want to see this model succeed. I WANNA see it out there and so I've long argued in thought you do a similar thing with podcasting is so I wanted to sort of experiment and push out here too. Not just because I think it'd be cool and maybe make a little money but just because I want to see this model independent creator model and become more things and so I sort of wanted to see what else we could do with it. Thus the new podcast dithering with our friend John Gruber and three times a week. Fifty minutes per episode. It's short google. You know exactly what you're getting which I think is real sorry. I'm kind of rambling here. But it's become the genesis of the businesses interesting but I'm super interested also in the genesis of the content side of it. There's a few things I thought about it. The actual content and the look and feel and the aesthetic of dithering is absolutely a shared project with me when I speak about the podcast itself. I'm saying my part of what is definitely a two-part relationship so I wanted to be super super clear about that. So if I say me or I than that's just because John here and I'm sorta speaking for myself but one of the things that I've thought about is what does it mean to sell content on the Internet and I wrote about a little bit this week because you're selling zero marginal cost good your so bits right. I mean literally selling email and the whole trouble that the news industry has encounter in the content injuries encountered is. It's really hard to sell something that doesn't have some sort of marginal cost attached to it. It turned out that selling a plastic disc was a lot easier than selling. Mp threes right or selling a book is easier than selling tax on a page newspaper of actual paper. It's the actual physical aspects of that and the difficulties of producing it and disturbing it and getting in front of people that was actually the foundation of all these different businesses and wants distribution became trivial. An easy it turned out that that actually was bad for business. It was good for the sort of content producer as far as reach goes but as far as actually making a living. It wasn't so great after all so one of the things that I thought about is. What am I son? The daily updates am I sign an email that never felt quite right in the whole micro transaction thing. I've always been skeptical about because it takes a lot of work to produce something in produce Oughta work. There's no guarantee is going to be a pickup and then try to sell it and I'm not sure that that's a sustainable sort of approach for publication or sort of an independent journalists. What is more attractive is people that are invested in your sort of ongoing production of content. And this idea that I'm going to do this thing. And you're GONNA pay me not necessary for the thing itself but for the ongoing production of this thing. It's like the difference between like discrete and continuous instead of paying for discrete items. You're paying for sort of continuous production and the output ends up being discreet items but those are sort of worthless artifacts worthless in terms of marginal cost perspective. That are evidence of the ongoing production. Which is what you're actually paying for. I'm not sure if that makes sense. Eight does make sense but let me grounded with another example from we've talked about. This was when you describe this model in the context of local news. You would pay someone to go. Collect the local news for you and reported but some days they might report well. There's actually no news today and you still pay them because you're paying for the piece of paper or the email you paying for the process of them to go out and do this and you need to pay them in such a way that they can reliably make a living doing it. That's exactly right. That's a perfect example like I'm paying for them to do the work to tell me that nothing is going on right like it's the effort that I actually want and I want the output from that but it's almost like if to integrate the effort with the output instead of trying to sell these discreet output items. It's all one package. You'RE PAYING FOR THE ENTIRE PACKAGE. And so you take that and you apply it to a podcast. Well what's a problem with some podcasts? I mean we worked very hard to keep our podcast to about an hour and it's kind of predictable and sometimes we go along and we feel a little sheepish about that because you want people to if they start expose know about how long it's GonNa take and say something that our Fred. John has been a little less disciplined about like fuck has to go an hour to two hours three hours or whatever which is fine it works for him but if you're purchasing something that feels overwhelming on one hand and other hand you want to get something for your purchase right and so this is one of the ways. We arrived at this idea of three fifteen minute episodes a week. It's exactly fifty minutes. Every single time is three days a week. It's very well defined exactly what you get and I think that's an important piece of this business

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