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  • feedwordpress 14:04:34 on 2020/10/29 Permalink
    Tags: , election, founders, , , Site Related, startup, , therecount,   

    The Recount Turns One 


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    The evolution of The Recount’s first product. The Daily Recount, from early prototypes to full expression this past July.

    One year ago this week, a small group of journalists launched a completely reimagined approach to covering the news. We called it The Recount. It’s mission: To be the leading outlet for video journalism in today’s age of mobile, non-linear, on-demand television.
 We started with a single product focused on politics. We called it The Daily Recount, and we envisioned it as a “remix” of the most important news sourced from scores of outlets, from national and international broadcast news to radio to podcasts to digital and social media and more. Our promise was simple: We’ll deliver the news quickly and free of the bullshit and bad faith that was drowning out our national discourse.

    Now one year old, The Daily Recount was and continues to be an extraordinary media artifact – each segment is constructed from elaborately sourced samples of sound, graphics, and video clips. It employs no narrator, no “suits on set” —  instead our journalists build an entirely new product from the 24/7 barrage of batshit crazy which leaps from our tangled media ecosystem. My friend and co-founder John Heilemann calls it “Hip-Hop journalism” – a radical re-interpretation of a standard form, built on the beats, samples, and melodies of what’s come before.

    We spent nine months perfecting what we’ve come to call the “manufacturing process” that informs The Recount’s journalism. That’s an eternity for a media start up, but we took an approach familiar to anyone who’s worked at a technology company: Hire extraordinary talent and agree on the problem you were trying to solve, then put your heads down and work the problem until you’ve got a product you’d be proud to release. By April of last year we had the core team assembled. From April through July we made a version of The Daily Recount each and every day – and then threw it away, only to make another the next day. In late July we began to show our work to a small group of advisors and colleagues. By October that group had grown to more than 10,000 beta testers, and we felt ready to release our work into the wild.

    When we launched one year ago, we knew we were onto something, but we weren’t sure how our new idea would play out. We knew asking news consumers to adopt a new habit would be difficult – and that news consumers in general had shifted their consumption habits to social platforms. And we also knew that asking marketing partners to support anything covering the country’s toxic political environment was, at best, a heavy lift. But we did have a number of firmly held principles about not only the editorial product we were making, but also the role of journalism and the media business in today’s fractured information ecosystem.

    In our work, we committed to not only eliminate the bullshit so common in political coverage, but to use the impact of video to hold the powerful accountable to the truth (that’s the job of journalism, after all). In our business, we committed to rethink the core assumptions of how a media outlet produces, distributes, and gets paid for the work it does. We also knew that we’d have to be agile, that we’d make mistakes, and that we’d have to quickly adapt to survive. Thankfully, we counted Fred Wilson – the most thoughtful, patient and contrarian-minded venture capitalist I’ve had the honor to work with – as our first financial partner.  And we secured Bank of America as our core launch sponsor – a partnership that has grown several fold over this past year. Were it not for the vision and commitment of both, The Recount would remain confined to a set of white board images stored in my bedroom closet, a dream imagined but unrealized.

    ***

    October’s launch was covered by Vanity Fair, and in the month or two following, hundreds of thousands came by our site and app to check out our work. Initial feedback was consistently strong, but we also learned that our product was demanding – it truly was a new way to consume news. We’d developed a grammar and vocabulary that attracted hardcore fans – but a more casual mass audience would likely require spending millions of dollars, and endless months, attempting to convince people to form a new habit on our owned and operated properties. As I’ve written (extensively) elsewhere, it’s now ground truth that when it comes to national news, Facebook, Google, Apple, and others are the new gatekeepers of audience – particularly in digital video. If you want to build out your own properties, you have to pay the gatekeepers a steep rent – constantly.

    This was not unexpected. I’ve spent decades studying the tectonic changes in media wrought by the rise of digital. Every five or so years, I’d jump in and start a new media or technology company that played into those changes. But when I moved to New York two years ago, my intention was to get away from company creation, and lean more into scholarship and writing. But the challenge of imagining and executing a new approach to news consumption in the two most potent media forms – video and the internet – was just too seductive. And to do it with John and Fred, two of the best in the business – who just so happened to be close friends? Irresistible.

    So by late last year, The Recount had an excellent core product (and a growing set of new short form series), but it was time to crack the most intractable problem in post-platform media: Distribution. We were determined to not play the audience-arbitrage game that has bedeviled the media business these past five or so years (for more on that, see this post from this past summer). But on the occasion of our soft launch in mid-October, it was Twitter that provided us with a hint of how we’d grow – and of the role we’d play not only in the national conversation, but in the shifting power dynamics between platforms, media creators, audiences, and marketers.

    The post above was a sophisticated, 32-second edit of a clip spotted by one of The Recount’s producers (oh hey Brennan!), all of whom were already in the habit of scouring feeds all day long, looking for just the right moments to include in the Daily Recount. I’ve come to call this process the “human algorithm” – talented, experienced journalists attuned to the news of the day, leveraging a system of machines and feeds we’ve hacked together using commercial tools like SnapStream, TVEyes, TweetDeck, and Slack.

    In any case, that Italian translator video went bananas on Twitter, with more than two million views overnight. We learned something about the role we could play in the national political dialog – identifying just the perfect moments to propel and contextualize the conversation millions were having on Twitter and beyond. Rethinking the nuanced and critical role of editing, we began to test and learn, using Twitter as our preferred medium. This made sense, given the unique role the service plays in the news ecosystem – it’s a sketchpad for the first draft of history, and has a huge audience of people interested in the news.

    As we leaned into creating video built for the platform, engagement soared – as did our followers. When we launched, @TheRecount had just 10,000 followers and our posts had little attention and engagement compared with larger news brands on the platform. But after a few months of experimentation with our editorial on the platform, we’d grown sevenfold, and found that our posts were being picked up by leading figures in business, entertainment, politics and media.

    In March, we published a game-changing piece of journalism that proved a harbinger for the future of our distribution strategy. Produced the week the pandemic shut down offices across the U.S. (and of course, our own office in New York), the short film offered a devastating, fact-based account of how President Trump had downplayed the threat from COVID-19. Just four days after our office shut down, on March 17th, “Trump’s Coronavirus Calendar” debuted. 

    This post not only “went viral,” it also introduced our unique brand of journalism to more than ten million new viewers –  Madonna posted the video to her Instagram account, countless DC journalists quote tweeted it, pirated versions even traveled to Chinese sites like Weibo.  As the COVID-19 pandemic overwhelmed the world and threw the US election into chaos The Recount had, in a few short months, become an important voice in the national dialog. Oh, and right before the pandemic shut down the world, we welcomed new investors and believers into The Recount’s family – USV, Burda Ventures and Viacom/CBS led a new financing – which closed four days before we closed our offices. 

    ***

    The folks at Twitter had also noticed The Recount’s growing presence and engagement on their platform, and before the Calendar was posted, we’d already begun a set of conversations that led to an innovative partnership around Twitter’s Amplify product (I’ve written extensively about that here).  Working once again with Bank of America – and I must shoutout BofA’s innovative head of media Lou Paskalis, who really drove this partnership – we tested a pilot early in the year, then launched a fully realized media experience on Twitter in early June. The thesis was elegant: We’d combine our quality editorial work, which had grown to explainers, ongoing series, and topical features, with Twitter’s targeted reach, providing Bank of America the best of both worlds. If it worked, it augured an innovative approach to distribution where our advertisers became true partners in our success. 

    While I can’t publish internal results, I can state definitively that the partnership has indeed worked. Not only has The Recount grown exponentially, performance for our marketing partners has soundly beaten industry benchmarks – sometimes by as much as 400 percent. Since launching formally in June, we’ve added four new marketing partners, and are now expanding our coverage from our base in Politics to the corridors of power in Tech, Business, and Culture. We’ve also added partnerships with Flipboard, Roku, and iHeart – including the launch of three fast-growing podcasts in the past month alone, all of which have charted in their first month. 

    We’ve also developed the Recount Wire, an always on clip service available on our app and site that highlights the most important moments as they happen. The Wire feeds our work across all our products and distribution outlets, including a number of new narrated series and a burgeoning Instagram effort. (You can check out more Recount products here). 

    Since launch one year ago, our work has been viewed more than half a billion times – and one fifth of that traffic came in the past thirty days. Our posts on Twitter, now fueled by the Wire, continue to draw unparalleled engagement. This past October 8th, for example, President Trump released an unusual video, apparently shot from the South Lawn of the White House. Trump had just come back after his COVID diagnosis and trip to Walter Reed hospital, and in his unique style, he free-associated about the impact of the virus on senior citizens. The Recount’s editors found exactly the moment that mattered in that video, posting this:

    That same night, the president’s son was stepping in for his father, holding a packed indoor rally that sparked national concern. Again, our journalists found exactly the moment that mattered:

    More than ten million people watched those two clips, but more astonishing were the breadth and influence of folks who shared them. Tens of thousands commented on and/or shared the videos, including most of the White House press corps, Captain America (Chris Evans), late night host Jimmy Kimmel, the actors Don Cheadle and Kat Dennings, the wrestler Dave Bautista, and the television personality Farrah Moan, among countless others. 

    ***

    The Recount’s Twitter followers since late last year.

    What’s remarkable to me, as I think about where we started one year ago, is that October 8th no longer represents an unusual day for The Recount. We’re averaging roughly three to four million views a day on Twitter alone – and our editorial voice has moved to the center of the national discourse on the platform. 

    All of this progress in just one short year – more than seven months of which we’ve spent working remotely. That’s an incredible way to launch a brand. We’re now well on our way to delivering on our vision of reinventing how people consume their news, and I’m so proud of what this team has accomplished. In the coming months, we’ll have plenty of announcements about how we plan to take our brand and our voice to many more platforms, with exciting new partners and editorial products (I don’t want to spoil the fun, but think OTT/streaming, communications apps, and more). But we’d be nowhere without those that got us here so thanks to everyone our incredible staff, our partners, our investors, and especially the folks who engage with us every day. I hope we’ve made you proud – and here’s to what we’ll do together in the years to come.

     
  • feedwordpress 04:39:26 on 2016/09/22 Permalink
    Tags: , open web, , Site Related,   

    I feel terrible about this site. 


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    The post I feel terrible about this site. appeared first on John Battelle's Search Blog.

    I don’t write here anymore. I write almost entirely on Medium now. It’s not a choice I made to NOT write here, it’s a choice I made to edit NewCo Shift, our new publication. It lives on Medium, but if it were a WordPress site, well, my writing would all be on that site. It’s less about the medium (so to speak) and more about the publication.

    As the days go by, and this site gets longer in the tooth, the challenge of updating it and making it current gets bigger and bigger. It eats at me. And I miss the engagement that this place used to have. I know it’s all my fault, and I’m sorry. I don’t have a plan to return to this place, because as much as I love the kind of writing I do here, I simply don’t have the time to do it. And I don’t see that changing anytime soon.

    So, if you followed me here, and have wondering WTF I’m up to, well, follow me on Medium. And maybe subscribe to my newsletter there. Here are a few stories I’ve written (I do at least one or two a week):

    Comb the Hairball: Why Healthcare Is Broken and Sugar Dominates Our Diet

    What Everyone Missed in the Unilever/Seventh Generation Deal

    100 Million Strangers Sleeping In Other People’s Homes

    Understanding Medium: Evan Williams On His Past, Future, and Current Obsessions

    To Fix Government Tech, Take Off the Headphones and Listen

    I love Searchblog. I am sure I’ll return to it at some point. For now, however, my dance partner is NewCo Shift.

    The post I feel terrible about this site. appeared first on John Battelle's Search Blog.

     
  • feedwordpress 05:01:39 on 2016/03/24 Permalink
    Tags: , Site Related   

    New Posts…For All You RSS Readers 


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    The post New Posts…For All You RSS Readers appeared first on John Battelle's Search Blog.

    I’ve been writing a lot at NewCo’s publication, and will continue to do so. But I want to make sure you folks know about that work, so here are links to a couple of  new pieces.

    And The Award for the Best Marketing Execution At SXSW Goes To …

    I went to SXSW again this year, and IBM really nailed their million-dollar activation.

    Because Calling It “Profiting From The Financialization of Death” Won’t Make the Phones Ring

    Pretty joints after midnight stuff, but man, I’m reading Rana’s new book and this one made my head spin.

    Lastly, if you want to stay current on my work at NewCo, which is increasingly editorial in nature, sign up for the Daily newsletter. We’re also launching a Weekly version, for which I’ll be writing a regular column. Sign up here!

    The post New Posts…For All You RSS Readers appeared first on John Battelle's Search Blog.

     
  • feedwordpress 19:11:08 on 2014/12/31 Permalink
    Tags: , , Site Related   

    My Predictions for 2014: How’d I Do? 


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    The post My Predictions for 2014: How’d I Do? appeared first on John Battelle's Search Blog.

    2014Each year around this time I look back at the predictions I made 12 months ago, and I score myself with some combination of objectivity and defensiveness. And each year I do pretty well, batting somewhere between .500 and .750, depending on how you keep score.

    This past year was different. First off, my predictions were unusually sparse. I started the year in a funk – I was depressed by our industry’s collective ignorance of climate change, and it showed in my writing. I called 2014 “A Difficult Year to See,” because my vision had been clouded by a deep anxiety over why tech hasn’t tackled what seemed to me to be the world’s most pressing problem.

    One year later I find myself in a more patient stance. But given the goal of this post is to review how I did, and not how I feel today, let’s get to the score card.

    1. 2014 is the year climate change goes from a political debate to a global force for unification and immediate action. It will be seen as the year the Internet adopted the planet as its cause.

    Well, maybe not. I think I wrote from a place of “I wish this was the case” as opposed to “I think this actually will happen.” What I can say is this: Climate change is now a front burner issue for all thinking people on this planet, and that’s certainly a shift for the better. California, cradle of the tech industry, is in the middle of a severe, inescapable drought, one that weighs heavily on everyone working here. Sure, California has had cycles of drought in the past, but this one is different – in just three years, we’ve eclipsed draught data from as far back as 1,200 years, and as persistent as seven years in duration. Data like this starts to change how people think about their impact on the world.

    But it takes time. Last year I hoped that “…the lessons of disruptors like Google, Twitter, and Amazon, as well as newer entrants like airbnb, Uber, and Dropbox, can be applied to solving larger problems than where to sleep, how to get a cab, or where and how our data are accessed. We need the best minds of our society focused on larger problems – but first, we need to collectively believe that problem is as large as it most likely is.”

    Such a shift requires more than one year to happen. I’d judge myself harshly here – what I predicted simply did not happen. However, I do believe that 2014 was the beginning of it happening, and I reserve the right to come back to this post a few years from now, and claim that I called the beginning of a multi-year, secular shift toward “the Internet adopting the planet as its cause.” At least, I certainly hope I can.

    Score: .000

    2. Automakers adopt a “bring your own” approach to mobile integration.

    Automobiles are in the “mobile experience” market, and until recently, it looked like they were going to try to keep their customers from bringing Apple, Google, and other tech brands directly into the driving environment. I noted that the auto industry changes painfully slowly, but 2014 would be the year things shifted to one where consumers began integrating their own smartphone environments directly into their driving experience. And while there is still a long way to go, it seems I was right.

    Just this month, for example, Ford announced it was dropping its seven year partnership with Microsoft for a Blackberry’s ONX operating system. Seems like small news, till you look under the covers and see what it really means: using QNX allows Ford’s customers to easily integrate their iPhones or Android devices with their cars. Apple and Google seem to be taking a dual-pronged approach to the automobile – work with the industry to allow simple integrations between the phone and the car (contact lists, phone calls, some apps), while at the same time announcing far more ambitious plans to become the entire operating system for those cars in the future (for Apple, it’s CarPlay, for Google, it’s Android Auto).

    Overall, I think I got this one largely right.

    Score: .750

    3. By year’s end, Twitter will be roundly criticized for doing basically what it did at the beginning of the year.

    Twitter went public in November of 2013, and in my predictions two months later, I wrote: “The world loves a second act, and will demand one of Twitter now that the company is public…its moves in 2014 will likely be incremental. This is because the company has plenty of dry powder in the products and services it already has in its arsenal – it’ll roll out a full fledged exchange, a la FBX, it’ll roll out new versions of its core ad products (with a particular emphasis on video), it’ll create more media-like “events” across the service, it’ll continue its embrace of television and popular culture…in other words, it will consolidate the strengths it already has. And 12 months from now, everyone will be tweeting about how Twitter has run out of ideas. Sound familiar, Facebook?”

    For the most part, this is pretty much what has happened. For Twitter, 2014 has been a year of piling on, in particular for Twitter CEO Dick Costolo, who was given a vote of no confidence in the Wall St. Journal this November.  And what has Costolo failed to do? Apparently, the same thing everyone else has failed to do over the past seven or so years: Define exactly what Twitter is supposed to be, even as the service kept growing and delighting the world. But let’s get real: in the four years Costolo has been CEO, Twitter has gone from zero to more than a billion in revenue – a feat that puts the company in the rarified air of Google, Facebook, Uber, and precious few others.

    It strikes me that Costolo’s biggest error in judgement was to let Twitter go public in an environment where the stock was vastly over-valued. His stock debuted at $26, closed above $40,  and was pushed past $70 before it was retreated to its current price of $36 or so. Unfortunately, the market’s expectations of Twitter far outpaced the company’s true value, which was extraordinary to begin with. And so, one year later, Twitter is “roundly criticized for doing basically what it did at the beginning of this year” – struggle to define just what Twitter actually is, but at the same time, produce an invaluable service that has managed to grow revenues at a blistering pace. My own view boils down to this: Ignore Wall Street, and focus on Twitter’s plans in mobile services. More on that in my predictions post.

    Score: 1000

    4. Twitter and Apple will have their first big fight, most likely over an acquisition.

    Well, I have no idea whether this one was true. It certainly didn’t break out into the mainstream news if it did happen. I mentioned that entertainment would most likely be where the two companies diverged, as I view that to be an area both want to play (most notably music and video). Apple certainly made its play there with Beats, but there’s not been any word of a “fraying relationship” between Twitter and Apple that I’m aware of. As far as I know, I whiffed on this one.

    Score: .000

    5. Google will see its search related revenues slow, but will start to extract more revenues from its Android base.

    Yep. Search revenues have been slowing for years, but 2014 was the year everyone woke up to it. As the NYT reported this October: “The thing that worries investors, though, is that the company’s golden goose — its search engine — is showing signs of age.” Put another way, search revenues are not growing as quickly as they once were – Q3 grew 17% y/y, compared to Q2, which grew 25% on the same measure. But the piece also noted a strong uptick in Google’s Android-based Play store revenues – up 50% year on year. Combine that with Google’s focus on consolidating its control of the Android ecosystem, and I think I got this one pretty much right.

    Score: 1000

    6. Google Glass will win – but only because Google licenses the tech, and a third party will end up making the version everyone wants.

    Whoa. What was I thinking? I was right in some details – in the post I suggested the price will go down by half, and sure, you can get used Glass for half price or better on eBay – but I whiffed again here. Not much happened with Google Glass this year, and no third party ended up making the version everyone else wanted. And I’m not sure anyone ever will.

    Score: .000

    7. Facebook will buy something really big. 

    Um….yup. Twice. I suggested it might be Dropbox or Evernote, but Facebook went for WhatsApp and Oculus, among many others. I suggested that Facebook needed to admit it had “become a service folks use, but don’t live on anymore,” and that the company would continue to buy its way to its core user base, as it had with Instagram. I was right, but I picked the wrong horses.

    Score: .750.

    So looking at all my predictions, how did I average? Well, on seven attempts, I whiffed three times, nailed it twice, and hit .750 on two more. An average of .570, if you use “hits” as your base, but a less impressive .314 if you just add up the numbers and divide by 7.  I’ll let you decide which it was, and meantime, look forward to doing better next year. My Predictions 2015 post is coming, but most likely will wait till this weekend. Happy new year, everyone!

    The post My Predictions for 2014: How’d I Do? appeared first on John Battelle's Search Blog.

     
  • feedwordpress 17:10:10 on 2014/10/23 Permalink
    Tags: , , Site Related   

    Around The Kitchen Table, a Better Way To Finance “Secondaries” Is Born 


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    The post Around The Kitchen Table, a Better Way To Finance “Secondaries” Is Born appeared first on John Battelle's Search Blog.

    FCCapitalNearly a decade ago I was two years into starting a new company, one that was growing quickly, but at the same time struggling with all the classic problems of a startup. We needed to raise more capital, we needed to hire more of the right people, and we needed to retain and motivate the people we already had brought onboard.

    But more than anything, I was personally struggling with whether I could keep up the pace. This was my fourth startup, and I’d been at if for nearly 20 years. At that point in my career, I had serious questions about whether it was worth the time and energy, given that the pay was low (gotta keep burn down) and the hours were insane. I had three young children, all in expensive schools, and a mortgage to worry about. I wasn’t making enough to cover our monthly nut, and I wasn’t certain that the upside of any startup – even one I believed in with all my heart – was worth potentially failing my obligations to my family. After all, I was reasonably established, and I could always go get a higher-paying, more stable job.

    So one morning at my kitchen table, I poured out my concerns and dreams to a close friend, Chris Albinson, who just happened to be a venture capitalist. I explained my dilemma – my responsibilities as a father and husband were in direct conflict with my career as a startup founder. I remember Chris asking what I’d need to keep my focus on my startup. At that moment, the reality was, I needed cash. I needed to be able to look my wife in the eye and say “Don’t worry, if this doesn’t work out, we’ll have enough to cover living expenses while I look for another job.”

    Chris asked me to tell him more about the business I had started (it was Federated Media), and then right there, over the kitchen table, agreed to lead a financing, but with a twist: A small portion of the proceeds were distributed to me, the founder, in exchange for my personal shares of the company. Chris explained that this was called a secondary stock sale, but I didn’t care. For me, it was a lifeline, and a way to keep doing what I loved to do.

    I hadn’t thought much about that story for some years, but today Chris and his partners Mike Jung and Ken Loveless are announcing the birth of a new kind of venture firm, one that has at its heart the “kitchen table ethos” that defined Chris and my partnership nearly ten years ago. It’s called Founders Circle Capital, and you can read all about it here.

    FCC was born of the insight that companies are taking longer and longer to get to a traditional “exit” of an IPO or sale. For Federated, that process took nine years, and its spinoff, sovrn Holdings, is now entering its tenth year (it’s doing very well, I’m proud to say). When companies take that long to provide a return on the early invested capital or sweat equity, serious misalignments can develop between the original founding team and later investors and partners. It’s one of the great headaches of any CEO running a late stage startup – figuring out how to please all the different stakeholders who occupy an increasingly tangled cap table.

    FCC was created to help align founders, investors, the company’s board, and its management team. I’m proud to say that I will play a part in the new company’s story as Chairman of its “Founder’s Circle,” a group of extraordinary founders who are in one way or another connected to FCC’s mission and community. It’ll be a safe place for founders to talk about their personal and professional journey – a virtual kitchen table of sorts, welcoming and intimate.

    Companies with breakaway growth look awfully fun from the outside – but having been on three such journeys (Wired, The Industry Standard, and FM), I can tell you it’s anything but easy. In fact, as I look back on the most stressful years of my life, they map to the times when my companies were growing the fastest. Back then, I felt deeply alone, with almost no one to talk with. It’s my hope that through the Founders Circle, we might be able to change that just a little bit. Congratulations to Chris, Mike, and Ken on the launch, now let’s get to work!

    The post Around The Kitchen Table, a Better Way To Finance “Secondaries” Is Born appeared first on John Battelle's Search Blog.

     
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