Matthew Sacks and Lauren Perkins (Luminary Media) - Listening to the Market
Entrepreneurial Thought Leaders (ETL)
Stanford eCorner
4.5 • 740 Ratings
🗓️ 29 May 2019
⏱️ 53 minutes
🧾️ Download transcript
Summary
The podcast market was growing rapidly when Luminary Media was founded at the beginning of 2018, and it was even bigger by the time the company launched its podcasting service on April 23, 2019. Just a month after that launch, CEO Matthew Sacks and co-founder/head of talent Lauren Perkins step back to assess how they identified an opportunity in the podcasting space, built a team and launched a product with a library of exclusive content in a little over a year. They also address the negative headlines and Twitter backlash they received during launch week, and share strategies for responding to the kinds of mistakes that fast-moving startups often make.
Transcript
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| 0:00.0 | Who you are defines how you build. |
| 0:06.7 | This is the entrepreneurial thought leader series. |
| 0:10.7 | Brought to you by Stanford E-Corner. |
| 0:14.3 | On this episode, we have Matthew Sacks and Lauren Perkins, co-founders of Luminary Media, |
| 0:20.0 | a new podcasting platform looking to make an impact on the |
| 0:23.2 | growing podcast market. Prior to Luminary, Matthew was a principal at New Enterprise Associates, |
| 0:29.1 | and Lauren was a principal recruiter at True Search. Welcome, Matthew and Lauren. |
| 0:40.3 | A number of you may not have heard of Luminary before we were booked to come here today. |
| 0:45.3 | We wanted to actually spend some time giving a high-level overview of the business, |
| 0:49.3 | what is Luminary, talk a little bit about our mission and sort of why we're doing, what we're doing, and then go through some of the key learnings that we've had over the past, you know, |
| 1:00.0 | since starting the business. |
| 1:02.0 | When we think about, you know, sort of what we've learned and the experience we've had so far, |
| 1:08.0 | there's a couple key notes that we want to hit and talk through with you all. |
| 1:11.6 | One is, you know, the idea of looking for opportunity wherever you are and wherever you have the |
| 1:16.6 | chance to see it. For Lauren and for me, I think the path to starting a business was not |
| 1:22.1 | a linear one and it really was made possible by being different places in our career and seeing an opportunity |
| 1:30.2 | that was maybe five degrees to the right or five degrees to the left of where we were supposed |
| 1:35.3 | to be looking and then running through those doors when we saw them open that they were open. |
| 1:41.3 | Two, and this is something Lauren will spend a lot of time on, is the importance of building |
| 1:45.9 | a great team. |
| 1:46.6 | I'm sure every week in this class when people come in, they talk about that, but it's because |
| 1:52.1 | it's true. |
... |
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