Podcasts > Acquired > Acquired LIVE from Chase Center (with Daniel Ek, Emily Chang, Jensen Huang and Mark Zuckerberg)

Acquired LIVE from Chase Center (with Daniel Ek, Emily Chang, Jensen Huang and Mark Zuckerberg)

By Ben Gilbert and David Rosenthal

In this episode of Acquired, hosts Ben Gilbert and David Rosenthal reflect on the podcast's remarkable growth over the past five years. They share insights into their lean production approach and the organic, word-of-mouth model that has driven their global reach.

The episode also features discussions with prominent tech leaders. Meta CEO Mark Zuckerberg delves into the company's engineering-led philosophy, its willingness to iterate rapidly and make bold, long-term decisions like investing heavily in AR/VR and AI. He outlines Meta's vision of fostering meaningful connections through immersive technologies built upon open, decentralized ecosystems.

Additionally, Nvidia CEO Jensen Huang and journalist Emily Chang provide their perspectives on the opportunities and challenges facing the tech industry. Their conversations explore how advancements in areas like generative AI and the metaverse could shape the future.

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Acquired LIVE from Chase Center (with Daniel Ek, Emily Chang, Jensen Huang and Mark Zuckerberg)

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Acquired LIVE from Chase Center (with Daniel Ek, Emily Chang, Jensen Huang and Mark Zuckerberg)

1-Page Summary

The Growth of the Acquired Podcast

Significant Expansion and Global Reach

Over 5 years, the Acquired podcast has seen tremendous growth, according to hosts Ben Gilbert and David Rosenthal. It has amassed over 400 years of listening time, tripling Spotify subscribers in the past year alone. Its reach extends globally, with notable listenership increases in countries like Mexico, Hong Kong, Israel, and Singapore, as stated by Spotify CEO Daniel Ek.

Organic, Word-of-Mouth Growth

Gilbert and Rosenthal attribute this growth to an organic, word-of-mouth model - each listener tells one other person about Acquired annually on average. They have intentionally kept production lean, often recording marathon sessions to craft each 3-5 hour episode, as detailed by the hosts.

Meta's Technology-Driven Approach

Engineering and Technical Leadership

Meta CEO Mark Zuckerberg emphasizes the company's technology-first mindset, ensuring engineers and technologists are in leadership roles. This philosophy is rooted in building robust technical infrastructure.

Quick Iteration and Learning

Zuckerberg values shipping products early to learn from market feedback, enabling innovative features like the News Feed. Meta pivots when necessary, like the transition from HTML5 to native mobile apps.

Long-Term Strategic Control

Meta's dual-class share structure shields it from short-term investor demands, enabling long-term decision-making like rejecting Yahoo's 2006 buyout offer. Controlling technology platforms like AI and AR/VR reduces dependence on other companies.

Human Connection Through Technology

From Social Network to Connection Company

Zuckerberg redefines Meta's mission as facilitating meaningful human connection through technology that creates a sense of shared presence, regardless of physical location.

Investing in AR/VR and AI

Meta is heavily investing in AR/VR and AI to build immersive "awesome" experiences like holographic eyewear that fosters connection. As Zuckerberg states, AI will enable advanced camera, microphone, and speaker features.

Open, Decentralized Tech Ecosystems

Rather than closed ecosystems, Meta aims to make transformative technologies widely accessible through open sourcing and community development around its advancements, enabling standardized supply chains and cost reductions.

1-Page Summary

Additional Materials

Clarifications

  • The Acquired podcast, hosted by Ben Gilbert and David Rosenthal, has experienced significant growth over 5 years, with a large increase in listening time and Spotify subscribers. The hosts credit the podcast's success to an organic, word-of-mouth model and their focus on producing in-depth episodes through marathon recording sessions. The podcast has gained a global audience, with notable increases in listenership in countries like Mexico, Hong Kong, Israel, and Singapore.
  • Meta's technology-first mindset means prioritizing technology in all aspects of the company's operations. This approach ensures that engineers and technologists hold key leadership positions, emphasizing the importance of robust technical infrastructure. By focusing on technology, Meta aims to innovate rapidly, learn from market feedback, and develop cutting-edge products like the News Feed and AR/VR experiences. This strategy also involves investing heavily in AI and AR/VR to create immersive and innovative technologies that enhance human connection and shared experiences.
  • Meta's dual-class share structure means that the company has different classes of shares with varying voting rights. This structure typically gives certain shareholders, like company founders or executives, more voting power than regular shareholders. It allows these key individuals to maintain control over the company's decisions and direction, even if they own a smaller percentage of the total shares. This setup can shield the company from short-term pressures from public shareholders, enabling long-term strategic planning and decision-making.
  • Meta's transition from HTML5 to native mobile apps involved shifting from using web-based technology (HTML5) for their mobile applications to developing apps specifically for different mobile operating systems like iOS and Android. This change allowed Meta to create more optimized and feature-rich experiences on mobile devices, enhancing performance and user engagement. By moving to native mobile apps, Meta could leverage the full capabilities of each platform, providing a smoother and more integrated user experience compared to web-based solutions. This transition was a strategic move to improve the overall quality and functionality of Meta's mobile offerings, aligning with industry trends favoring native app development for enhanced performance and user satisfaction.
  • Meta's focus on AR/VR involves developing technologies that create immersive experiences through virtual and augmented reality. Their emphasis on AI aims to enhance features like advanced camera and audio capabilities for a more interactive user experience. Additionally, Meta's interest in open, decentralized tech ecosystems signifies a commitment to making their technological advancements widely accessible through community collaboration and standardized development processes. This approach can lead to more innovation, cost efficiency, and broader adoption of their technologies.

Counterarguments

  • The growth of the Acquired podcast, while impressive, may not solely be attributed to word-of-mouth; other factors like content quality, industry trends, and digital marketing strategies could also play significant roles.
  • The global reach of the Acquired podcast could be influenced by the English proficiency in the mentioned countries, which may not necessarily indicate a diverse global audience.
  • The lean production model of the Acquired podcast might lead to potential burnout for the hosts and could affect the quality or sustainability of the podcast in the long run.
  • Meta's technology-first mindset and leadership structure could potentially overlook other important aspects of business, such as user privacy, ethical considerations, and content moderation.
  • Shipping products early to learn from market feedback could result in releasing underdeveloped or flawed products that might harm user trust or experience.
  • Meta's dual-class share structure, while beneficial for long-term strategy, could also lead to a concentration of power and decision-making that may not always align with the interests of all shareholders or stakeholders.
  • The emphasis on AR/VR and AI investments by Meta could be seen as a gamble on unproven technologies that may not yield the expected returns or user adoption.
  • While Meta's mission to facilitate human connection through technology is noble, there are concerns about the impact of technology on social behavior, mental health, and the quality of human interactions.
  • The open, decentralized tech ecosystems that Meta aims to support could face challenges in terms of standardization, security, and intellectual property rights, which might hinder the development and adoption of these technologies.

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Acquired LIVE from Chase Center (with Daniel Ek, Emily Chang, Jensen Huang and Mark Zuckerberg)

The Acquired podcast and its growth

Daniel Ek, Spotify's CEO, celebrates the remarkable growth of the Acquired podcast, helmed by hosts Ben Gilbert and David Rosenthal, over the past five years.

Acquired has experienced significant growth and success over the years

Over the span of five years, Acquired has seen its impact broaden and its audience multiply significantly, marking it as a standout podcast in its genre.

The podcast has accumulated over 400 years of listening time and tripled its subscriber count on Spotify in the past year

Gilbert and Rosenthal have seen their work translate into over 5 million hours of listening time on Spotify, with a substantial tripling of their subscriber count in the last twelve months alone. They have calculated that listeners have spent the equivalent of over 400 years engaging with Acquired content in the past year.

The podcast has expanded its global reach, with listenership growing strongly in countries like Mexico, Hong Kong, Israel, and Singapore

Daniel Ek underlines that Acquired's success is not just localized in English-speaking regions; the podcast has seen significant growth internationally, with notable listenership spikes in Mexico, Hong Kong, Israel, and Singapore. Rosenthal and Gilbert express enthusiasm about this global reach and even contemplate the idea of taking their show on a world tour.

The hosts, Ben and David, have been able to grow the podcast without any paid marketing

Gilbert and Rosenthal have fostered Acquired's growth with a focus on organic growth and word-of-mouth recommendations — a testament to the podcast's content quality and their audience's loyalty.

The podcast relies on organic word-of-mouth growth, with each listener telling one other person about it each year on average

Gilbert explains that each Acquired listener, on average, shares the podcast with one other person annually, and this has been a driving force behind the organic growth in their subscriber base. Rosenthal shares a story of a particular event that contributed to a surge in their audience, emphasizing the effect of organic, word-of-mouth promotion.

The hosts have intentionally kept the podcast production process lean and efficient, often recording for long hou ...

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The Acquired podcast and its growth

Additional Materials

Counterarguments

  • While the podcast's growth is impressive, it's important to consider the sustainability of relying solely on word-of-mouth for continued expansion, as this method might plateau without additional marketing strategies.
  • The significant increase in listening time and subscriber count is commendable, but it doesn't necessarily reflect listener retention or the long-term engagement of new subscribers.
  • Global expansion is a positive development, yet it may require the podcast to address diverse cultural contexts, which could challenge the content's relevance and the hosts' expertise in different regions.
  • The lean and efficient production process is notable, but it could lead to burnout or a decrease in production quality if not managed carefully, especially considering the long recording hours mentioned.
  • The claim that each listener tells one other person about the podcast each year might not be easily verifiable and could vary widely across different audience ...

Actionables

  • You can foster personal growth by setting a goal to share your favorite content with at least one new person each year, mirroring the organic expansion strategy. Start by identifying content that has significantly impacted you, whether it's a book, article, or video. Then, think of someone in your circle who would benefit from it and make a point to recommend it to them. This practice not only helps spread valuable information but also encourages meaningful conversations and connections with others.
  • Enhance your global awareness by regularly consuming content from different countries, akin to the podcast's international audience growth. Choose a new country each month and seek out popular local podcasts, news outlets, or cultural content from that region. This will broaden your perspective, help you understand diverse viewpoints, and give you a taste of the global conversation.
  • Adopt a lean approach to your pers ...

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Acquired LIVE from Chase Center (with Daniel Ek, Emily Chang, Jensen Huang and Mark Zuckerberg)

Meta's strategic decision-making and approach to technology

Mark Zuckerberg’s insights reveal a company intensely focused on technology, quick to learn, and committed to maintaining strategic control over its destiny.

Meta has a strong technology-first mindset that has enabled its success

Meta, founded by systems engineer Mark Zuckerberg, has rooted its approach in building a robust technical infrastructure and a culture where engineers and technologists are in leadership roles. This approach is evident as Zuckerberg underscores the company's focus on competency and superiority in technology. He has been careful to ensure that many on Meta's management team are technical, reflecting his belief in a technology-first mindset.

Meta's willingness to iterate and learn quickly has been a key competitive advantage

Zuckerberg emphasizes learning and iterating as quickly as possible, noting that Meta values shipping products early to learn from market feedback, rather than waiting for a perfect product. This philosophy has led to innovative features like the creation of News Feed in 2006, which has since become a staple of social media platforms.

Even during operational shifts necessitated by COVID-19, Zuckerberg seized the opportunity to refocus on building out AI infrastructure and scaling up Reality Labs. He acknowledges the company's capacity to pivot when necessary, exemplified by the switch from HTML5 to native mobile apps, marking a fundamental improvement in user experience. Zuckerberg is open about past challenges, illustrating that enduring difficult periods is crucial for growth and innovation.

Meta's strategic long-term thinking and control of its own destiny have been crucial

Zuckerberg discusses Meta's governance, including the dual-class share structure, whic ...

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Meta's strategic decision-making and approach to technology

Additional Materials

Clarifications

  • Meta's dual-class share structure means that the company has two classes of shares with different voting rights. Typically, Class A shares have fewer voting rights per share compared to Class B shares, which are usually held by company insiders or founders like Mark Zuckerberg. This structure allows insiders to retain control over the company even with a minority of the total shares outstanding. It gives more voting power to certain shareholders, ensuring that key decision-makers can maintain strategic control and make long-term decisions without being swayed by short-term investor pressures.
  • AR/VR stands for Augmented Reality (AR) and Virtual Reality (VR). AR overlays digital information onto the real world, enhancing what we see, while VR immerses users in a completely simulated environment. These technologies are used in various industries like gaming, education, training, and healthcare to provide interactive and immersive experiences. OpenXR is a standard that aims to unify and simplify the development of AR and VR applications across different har ...

Counterarguments

  • A technology-first mindset might sometimes overshadow other important aspects such as user privacy, ethical considerations, or the social impact of technology.
  • Having a leadership team dominated by technologists could potentially lead to a narrow perspective, lacking input from diverse fields such as humanities, social sciences, or ethics.
  • Prioritizing speed in shipping products can lead to issues with product quality, security vulnerabilities, or negative user experiences that could have been avoided with more thorough testing.
  • The focus on quick iteration and feedback might result in a reactive rather than proactive approach to innovation, potentially missing out on deeper, more fundamental advancements.
  • While pivoting and adapting are strengths, they can also lead to a lack of consistency and focus, which can confuse users and stakeholders.
  • The dual-class share structure, while beneficial for long-term strategy, can also concentrate power and limit accountability, potentially leading to decisions that are not in the best interest of all shareholders or stakeholders.
  • Rejecting buyouts like the one from Yahoo in 2006 worked out for Meta, but such decisions can also lead to missed opportunities for growth and collaborat ...

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Acquired LIVE from Chase Center (with Daniel Ek, Emily Chang, Jensen Huang and Mark Zuckerberg)

The role of technology in enabling human connection

Mark Zuckerberg of Meta paints a futuristic vision where technology radically enhances the way humans connect, emphasizing that Meta is evolving from a company known for social media to one that crafts meaningful, immersive connections.

Meta's mission has evolved from being a "social network" to a "human connection" company

Zuckerberg redefines Meta's mission, stating that the company now views itself not just as a provider of social media apps but as a facilitator of human connection. He emphasizes that Meta's focus has shifted towards creating technology that allows people to feel present with one another, regardless of their physical location.

Meta is investing heavily in technologies like AR/VR and AI to create the "next generation of open platforms"

The company is channeling resources into AR/VR and AI with the aim to build experiences that give people a greater sense of presence and foster shared experiences, even when apart. This approach marks a departure from simply producing "good" products to crafting "awesome" and uplifting experiences. Incorporating these new technological advancements, Zuckerberg mentions designing eyewear that will project holograms, allowing for immersive interactions. He draws attention to Meta's commitment to develop technologies that not only provide a sense of human presence but also enable mixed reality experiences.

A pivotal aspect of Meta's product strategy is to prioritize AI which, as indicated by Zuckerberg, encompasses advanced features like cameras, microphones, and speakers. Discussing the Reality Lab works and AI initiatives, Zuckerberg stresses that Meta is determined to produce not just good experiences but awe-inspiring ones.

Meta's long-term vision is to make these transformative technologies widely accessible, rather than controlled by closed platforms

In contrast to the closed, integrated ecosystems of rivals like Apple, Zuckerberg envisions Meta playing a key role in cultivating a more ...

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The role of technology in enabling human connection

Additional Materials

Clarifications

  • Meta's transition from a social network to a human connection company signifies a shift in focus from merely providing social media platforms to facilitating deeper, more meaningful interactions between individuals. This evolution involves a strategic move towards leveraging technology, such as AR/VR and AI, to create immersive experiences that enhance human connections beyond traditional social networking functionalities. By emphasizing the importance of enabling people to feel present with each other regardless of physical distance, Meta aims to redefine its role in fostering genuine human connections in the digital age. This transformation reflects Meta's commitment to developing technologies that prioritize enhancing human experiences and relationships over just offering social networking services.
  • Augmented Reality (AR) overlays digital information onto the real world, enhancing what we see. Virtual Reality (VR) immerses users in a completely simulated environment. Artificial Intelligence (AI) enables machines to perform tasks that typically require human intelligence. Mixed Reality combines elements of both physical and digital worlds, allowing interaction between the two.
  • Meta's approach to open platforms involves making their technologies widely accessible and encouraging community development through open sourcing, leading to standardized supply chains and cost-saving measures. In contrast, closed ecosystems, like those of rivals such as Apple, are more proprietary and tightly controlled, limiting external innovation and interoperability with other systems. Meta aims to foster a decentralized technology landscape by sharing advancements and promoting inclusivity in tech development, in contrast to the closed nature of some competitors' platforms. This approach allows for a more collaborative and diverse ecosystem where innovation can flourish beyond the confines of a single company's control.
  • Open sourcing in technology development involves making the source code of a software or technology freely available for anyone to view, modify, and distribute. This approach encoura ...

Counterarguments

  • Meta's shift from a social network to a human connection company may not necessarily lead to more meaningful connections, as technology can sometimes create a sense of isolation or superficial interactions.
  • Investing heavily in AR/VR and AI might not guarantee the creation of open platforms if the underlying business model still prioritizes profit over user privacy and open access.
  • The design and implementation of eyewear for immersive interactions could raise concerns about privacy, data security, and the potential for misuse or over-reliance on technology in daily life.
  • Prioritizing AI in products could lead to ethical issues, such as bias in algorithms, job displacement, and the erosion of personal agency as machines make more decisions for individuals.
  • The goal of making transformative technologies widely accessible is commendable, but there may be challenges in ensuring equitable access, especially for those in lower socioeconomic groups or in regions with less technological infrastructure.
  • While open sourcing can encourage community development, it does not always result in standardized supply chains or cost sa ...

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