MasterClass Takes a Crash Course in Frugality

Marketing School - Digital Marketing and Online Marketing Tips

Eric Siu and Neil Patel

Business, Marketing, Careers

4.6 • 1.4K Ratings

🗓️ 20 October 2023

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In episode #2586, we talk about why MasterClass is taking a crash course in frugality. MasterClass is an educational streaming platform where you can watch a vast array of bite-sized videos and learn many different skills from various expert speakers. Today, we look at an article from The Information about MasterClass’s lesson in frugality, and why spending more money won’t necessarily make you more money. We highlight different companies, including Twitter and Amazon, and how they’re getting more done with less. It’s important that you focus on being efficient and being frugal. Less can lead to more! TIME-STAMPED SHOW NOTES: (00:00) Today’s topic: Why MasterClass Takes a Crash Course in Frugality. (00:08) How much money MasterClass has raised and what they do. (01:25) We look at an article from The Information about MasterClass. (02:17) We talk about why spending more money won’t necessarily make you more money. (04:00) What MasterClass is learning: getting a lot done with a lot less. (04:25) Looking at Twitter as an example. (04:49) Amazon’s Two Pizza Team Rule. (05:55) Why do you have to look at things from an ROI angle? (06:16) That’s it for today! Don’t forget to rate, review, and subscribe! Go to https://www.marketingschool.io to learn more! Links Mentioned in Today’s Episode: Don’t forget to help us grow by subscribing and liking on YouTube! ‘MasterClass Takes a Crash Course in Frugality’ from The Information MasterClass Leave Some Feedback: What should we talk about next? Please let us know in the comments below Did you enjoy this episode? If so, please leave a short review. Connect with Us: Single Grain << Eric’s ad agency NP Digital << Neil’s ad agency X @neilpatel X @ericosiu Learn more about your ad choices. Visit megaphone.fm/adchoices See omnystudio.com/listener for privacy information.

Transcript

Click on a timestamp to play from that location

0:00.0	All right, so we're going to talk about how masterclass takes a crash course in frugality.
0:04.4	And Neil, you just searched this, but how much money did masterclass raise and do you want to talk about what they do?
0:09.2	Sure, so masterclass, I don't have the exact number pulled up up but I believe the last number I saw was
0:14.3	four hundred and seventy five million dollars in total which is quite a bit of money.
0:19.7	Master class is an educational base or e-learning base company in which you can watch a video and
0:27.5	learn business from Howard Schultz and Starbucks or learn how to play basketball better from
0:31.5	Steph Curry from the Golden State Warriors.
0:34.0	They pretty much teach you on everything, negotiation from like a FBI negotiator or they teach
0:40.6	you how to like plant gardens and do anything.
0:44.4	They'll have people teaching about outer space and how that works.
0:47.6	And the courses or the classes are really short.
0:50.4	Like I'm talking about like 10 minutes. There may be multiple lessons but you can get through something pretty quickly like an hour.
0:56.0	All right, so check this out. I mean I've checked out a couple of master classes. It's been pretty cool and so...
1:02.0	Do you still pay for your subscription no one of our mutual
1:06.0	friends bought me one but like it was for like a year or whatever and I just
1:09.8	I just I didn't know I mean I bought it once I canceled then someone bought me a I bought me a present so I had another year and then an auto renew me.
1:17.2	I'm like, wait wait wait I never used it give me my money back.
1:20.0	Yeah anyway so like so this article from the information says that look, the
1:25.2	Masterclass had a problem with the shoots featuring its latest star
1:28.0	instructor, Walt Disney CEO Bob Eiger. And so basically they spent $100,000 on recreating his office as a set.
1:37.0	And then the entire shoot cost Masterclass around $850,000.
1:41.0	So basically Masterclass shoots once had crews of between 50 to 70 people.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Eric Siu and Neil Patel, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Eric Siu and Neil Patel and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.