OpenAI just acquired TBPN, the daily live tech talk show hosted by Jordi Hays and John Coogan. You probably saw the news, and we’re TBPN super fans at SaaStr since Day 1. We’ve done a lot of media, events, and more over the years and to us at least it was clear that were doing something authentic that added real value from the very beginning.
A few thoughts, having been doing founder-centric content for a while:
#1. OpenAI isn’t public or profitable, but I think every public and profitable company should look at doing a deal or two like this.
Why? Their cash is trapped on the balance sheet. If you spend it, profitability goes down. But if you turn it into another asset, no real impact on earnings. So if you can find a media or community asset at scale, one that’s profitable and truly synergistic, and can buy it for any reasonable price, it’s almost free mass-scale marketing to your core audience. You turn say $150m in cash stuck on a balance sheet into a bunch of goodwill and free marketing. That was the goal with the Barstool deal. It didn’t work out, but it could have.
#2. Right now, comms and marketing teams’ #1 obsession is getting their CEOs on the top long-form podcasts.
Be it Joe Rogan, TBPN, 20VC, etc. They view these as the #1 media outlet to get their perspectives out, especially to tech audiences. Even the busiest public company CEOs reserve blocks on their weekly calendars for these. This is new-ish and a big deal.
#3. The chance to buy one of these channels, even at the risk it impacts the reach over time by now being owned, is a good bet to take for anyone at scale where the cost would be immaterial.
Yes, TBPN in 2030 may not be the same TBPN it was when it was independent. So what.
#4. TBPN is a win-win, positive media outlet, which makes it much easier for a tech company (vs. a media company) to acquire.
The Information has incredible journalism (probably the best in tech), but I don’t think any tech company wants to acquire that tone and perspective to enhance their execs and brand. It would be a better fit at a media company.
#5. It’s fine if it’s run as-is and all OpenAI gets more exposure 20+ hours a week.
Would it be better if all 20+ hours were the OpenAI team? Sure, but they know that doesn’t work. So it’s easy to make the editorial guarantee.
#6. There may be no deep plan for TBPN after the next 12 months, and that’s OK.
No need to over-analyze whether there is a grand plan here. Let it run. The world is changing so fast.
The big takeaway: these deals can be “free” marketing at scale. Turning a relatively modest amount of cash into massive, constant marketing you can’t get elsewhere. Even if it’s just owning all the ads on TBPN.
That’s more important now than ever, when cutting through the noise is harder than ever, when our attention spans are shorter than ever, and when social media consumes all our time.
Well played, and massive congrats to Jordi and John. #respect
