Ted Leonsis, Superstar
Liveblog from Interact08
Opening session: “Shift Happens,” by Ted Leonsis, vice-chairman emeritus AOL, sage, sports franchise co-owner–all around investor, booster and mentor to many web startups. Said to have coined the phrase “new media” [fact-check that one].
Consumer currently feels “shattered”–in New York last week, it felt to him “like the week after 9/11″
Presidential race is a “turning point” for the integration of Web 2.0
New products, etc. need to be created for 3-screens
How consumers consume: Free, on-demand, mashed up, shared, raw and authentic.
“Our children are growing up in a world where free is better than paid.” Pay-based businesses will “die.”
“People ask me, ‘Where are your people?’ I don’t have people.” Part of being “authentic,” people can smell b.s. a mile away.”
Globalization: We don’t know how to translate international uniques into currency. [Chinese will develop 300,000 math PhDs this year. We'll graduate 20,000. Marketing is increasingly for math majors. What does this mean to U.S. business?]
What do consumers give you? Money, time, pixels. You need to think in terms of those currencies.
“Ted’s Take”: I blog every day. I don’t like it anymore when people type my name into Google and see the first thing that comes up is a bad [Washington Post] article. My content is now at the top. “It’s important you take control of” your search results.
How this is blurring work and pleasure: A worker arrives at the office and logs first into fantasy football on Monday a.m., yet handled 300 e-mails on Sunday.
Discusses “filmanthropy“–movies with messages, creating a second bottom line. Just launched snagfilms.com, in partnership with Clearspring [in which he invests]. Cuts films into film widgets–now 61 million views. In U.S., there are 500 indie theaters; we have 12,000 virtual theaters.
The Internet is powerful because it enhances all of the following. It’s what all my businesses are designed around.
- relationships in communities of interest
- giving back
- pursuing a higher calling