From: acquiredfm
The podcast Acquired, hosted by Ben Gilbert and David Rosenthal, dedicated a special holiday episode to recapping 2022 in technology and discussing what lies ahead for 2023 [01:39:00].
Acquired’s 2022 Year in Review
The year 2022 was significant for the Acquired podcast, marked by substantial audience growth and diverse episode topics [00:54:55].
Key Episodes and Insights
- Taylor Swift The year began with an episode on Taylor Swift, an artist considered the first major “internet rockstar.” Her Eras Tour generated “900 stadiums worth of demand” for 50 shows, highlighting the internet’s ability to create unprecedented market sizes and demand, even for niche products [05:03:00]. This phenomenon suggests that the internet both enables niches to thrive and provides mainstream pop stars with significantly wider distribution and touchpoints compared to previous eras like The Beatles [07:31:00].
- Sony Corporation The episode on Sony was highlighted for its compelling narrative, featuring a genius founder, immense adversity (Japan in 1945), and a diverse business with five separate units contributing double-digit percentages to both revenue and operating income [01:07:00].
- Nvidia This episode explored how Jensen Huang, Nvidia’s CEO, “bet the company” three separate times on significant innovations. These bets included shipping a graphics card in nine months without full testing [02:31:00], investing in programmable shaders, and a seven-year investment in AI and CUDA before the market was fully mature [02:35:00].
- Amazon and Walmart The podcast covered Amazon in two episodes, but also dedicated an episode to Walmart, framing it as essential to understanding modern retail [03:07:00]. Walmart was described as potentially the first applied technology company in America, transforming its sector by applying technology to its operations, particularly in supply chain and distribution, which allowed for lower prices and greater customer reach [03:17:00].
- Benchmark The episode on Benchmark, a venture capital firm, introduced a new format where the hosts told the story and then had the firm’s partners on for a “protest” discussion. This format is seen as the “platonic ideal” for Acquired, allowing for unique depth that traditional interviews might not achieve [03:55:00].
- Enron The Enron episode was an indirect response to the FTX saga, with the hosts focusing on the historical parallels of Enron to provide context without engaging in real-time reporting [04:06:00]. It was noted that a company called EOG Resources, an upstream oil and gas business, still exists and carries the “Enron” name from its spin-off, while some of Arthur Andersen’s tax operations were preserved as Anderson Tax [04:09:00].
Podcast Growth and Strategy
- Acquired doubled its audience again in 2022, reaching over 250,000 unique monthly active listeners [00:59:58]. Episodes like Amazon and Benchmark became significant growth drivers, causing step changes in listener numbers [01:02:57].
- The hosts emphasized a “purist” approach, focusing on deep research and long episodes rather than weekly content or network expansion [00:41:56].
- They discussed the challenges of podcast growth due to their “inherently unshareable” nature, contrasting it with platforms like Spotify that actively engage with creators [01:03:07].
- The podcast’s business model relies on season-long sponsorships with highly selective partners, often leading to deeper relationships and even investment opportunities, such as in Vanta where they invested almost $10 million this year [01:09:00].
Key Tech Trends in 2022
- Rise of AI: The latter half of 2022 saw a significant acceleration in AI developments, with breakthroughs like DALL-E 2, GPT-3, and ChatGPT [02:18:00]. This shift moved AI from conceptual understanding to tangible business applications, similar to the App Store’s initial impact [02:50:00].
- Market Instability: The year was characterized by market craziness in broader tech and the economy, leading to a focus on revenue growth from secure and trusted sources for companies [01:14:00].
- Security and Compliance: Security and compliance transitioned from a “check-the-box” defense mechanism to an offensive strategy for B2B companies, becoming table stakes for raising capital and unlocking new markets [02:10:00].
- Twitter and Elon Musk: The hosts consciously avoided extensive coverage of the Twitter acquisition due to its highly public and dramatic nature, feeling that it generated more “TMZ story” than a “business story” that they could add unique value to [01:18:00].
- Importance of Distribution: The discussion around Taylor Swift and other internet phenomena underscored how the internet provides significantly more distribution and touchpoints for artists and products, allowing for massive scale [00:09:04].
Looking Ahead to 2023
Potential Episode Topics
- OpenAI: Given the recent breakthroughs in AI, OpenAI is a strong candidate for an upcoming episode [01:17:28]. The hosts noted they were “way too early” to cover it 12 months prior [01:17:56].
- Bernard Arnault / Luxury Brands: Exploring the power of brand and the concept of a “house of brands” through Bernard Arnault, one of the world’s wealthiest individuals outside of tech and finance, is a potential topic [01:19:19].
- Epic Healthcare: Investigating Epic Healthcare’s role and impact in the American economy, pondering if it’s a “hero’s journey” or more like an “Enron” scenario [01:20:29].
- Acquired Sessions: The format of Acquired Sessions, like the one with Jason Calacanis, may evolve to feature protagonists of past episodes or interesting people discussing topics beyond their direct work [01:21:00].
- Intuit: A potential episode on Intuit, described as a “far more interesting and successful business than people realize” [01:24:48].
- Nike: A highly desired episode, with the hosts wishing to visit Nike’s campus in Oregon to experience its physical and historical presence [01:25:02].
- Sears: Continuing the historical retail theme from Walmart, Sears is considered as a potential topic for its historical significance [01:25:02].
Podcast Business Model Evolution
- The hosts plan to average one “season episode” (deep dives into major companies like Apple or Microsoft) and one “special” (interviews or different formats) per month [01:15:10].
- They aim to be more intentional about live shows, perhaps limiting massive live events to once a year due to the significant production effort and potential for a “worse product” for the broader listening audience [01:17:00].
- The unique sponsorship model will continue to deepen relationships with partners, with a focus on creating “even more differentiated” sponsorship segments that tell a key insight or story about the company [01:12:00].
Personal Tech and Productivity Insights
- iPhone Mini: Ben Gilbert strongly prefers the iPhone Mini form factor for its size and weight, even contemplating buying a spare 13 mini due to Apple’s discontinuation of the line [01:34:42]. David Rosenthal is transitioning from a 12 mini to a 14 Pro for its superior camera, prioritizing photo quality as a new parent over the compact size [01:35:43].
- Apple Watch Ultra: Ben praised the Apple Watch Ultra for its lightness despite its size, its long battery life (nearly three days), and its bright, clear display that allows for easy photo viewing and even on-screen keyboard swiping for text replies [01:38:07].
- Robo Rock S7 Max: Ben recommended the Robo Rock S7 Max, a self-emptying robot vacuum with a mop, as a robust and reliable product that significantly simplifies life [02:14:52].
- Flighty App: David highlighted Flighty, a flight tracking app by indie developer Ryan Jones, for its superior UI and real-time information delivery, often before airlines themselves [02:13:31].
- Apple Keyboard with Touch ID: Both hosts appreciated the convenience of the Apple keyboard with built-in Touch ID [02:18:01].
- Elgato Gear: The podcast uses extensive Elgato equipment for production, including lights, a stream deck, preamps, and cam links, praising their quality and ease of use [02:18:30].
As the hosts reflected on 2022, they expressed profound gratitude to their audience, attributing the show’s success and the unique relationships they’ve built to the community [02:21:11].