20VC: The Story of Turning Around MTV, AOL and Time Warner | How To Be Effective When Making Hard Decisions | Tactics vs Strategy and Why Plans Are BS with Bob Pittman, CEO @ iHeartMedia

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The Twenty Minute VC

Finance, Venturecapital, Tech News, News, Siliconvalley, Technology, Investing, Startups, Business

4.4 • 637 Ratings

🗓️ 9 December 2022

⏱️ 54 minutes

🔗️ Recording | iTunes | RSS

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Summary

Bob Pittman is Chairman and CEO of iHeartMedia, Inc., the number one audio company in America. Prior to iHeart, Bob has just had the most amazing career as a co-founder and programmer who led the team that created MTV. He has also led some of the most incredible turnarounds as CEO of MTV Networks, AOL Networks and Time Warner Enterprises and as COO of America Online, Inc. and later AOL Time Warner.

In Today's Episode with Bob Pittman We Discuss:

1. From Flying Lessons to Radio:

How Bob first made his way into radio at the age of 15?
What does Bob know now that he wishes he had known when he started his career?
What is the most painful lesson Bob has learned in his career that he is pleased to have learned?

2. Decision-Making in Leadership:

How does Bob structure all decision-making as CEO today?
Why does Bob ensure that all decisions are made within 24 hours? What are the pros and cons?
How does Bob prevent consensus decision-making? How does Bob create dissent in a discussion?
How do the best leaders know when to kill a project? What do most do instead?

3. Tactics vs Strategies: Why Plans Are BS!

What is the difference between a tactic and a strategy?
When is the right time to change your strategy and tactics?
What have been Bob's biggest lessons on how to get teams on board with tactical changes?
Why does Bob believe that plans are BS? When can they be useful?

4. The Secret to Messaging and Storytelling:

What does Bob believe is the universal truth to successful consumer messaging?
What has changed and what has not changed in the way companies tell stories to their customers?
Is there a difference between a great product and a great company? What are examples?
What excites Bob most about consumer habits today?

5. Bob Pittman: AMA:

What does Bob believe is the success to successful parenting? How has it changed?
How does Bob analyze his own relationship to money today? How has that changed?
Why does Bob not believe in legacy? What do people get most wrong when it comes to ego?

Transcript

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0:00.0	I think a failure and a success is exactly the same thing. It's a stepping stone. What we call
0:05.1	a failure is one of the stepping stones we make a turn on, we go left or right, and a success is
0:09.5	one when we goes forward, but all of them are just stepping stones. We're constantly moving.
0:14.1	Nothing ever gets there. It's not finished. This is 20VC with me, Harry Stebbings.
0:18.7	Some more to show we have in store for you stay as I'm thrilled to welcome Bob Pittman to the hot seat.
0:22.9	Now, Bob is the CEO at IHeart Media, the number one audio company in America.
0:27.7	And prior to IHeart, Bob just had the most sensational career as a co-founder and programmer who led the team that created MTV.
0:34.7	He also led some of the most incredible turnarounds, a CEO of MTV
0:38.6	networks, AOL networks, Six Flags theme parks, Time Warner Enterprises, and a C.O.O.O. of AOL,
0:45.8	America Online, and later AOL Time Warner. Huge thanks to Brad Gersoner, Ryan Seacrest,
0:51.5	and Joe at Human Ventures. Some fantastic question suggestions today
0:55.5	really did make this episode so much more special. But before we dive into the show today,
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	...

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