All-In Podcast Says Traditional Brands Will Be Dead In 30 Years | Echo Chamber

ABOUT THIS EPISODE

Welcome to The Echo Chamber. Quick riffs and hot takes from around B2B Marketing. 

On today's show the guys discuss the bold claim on the "All-In Podcast" that traditional brands will be dead in 30 years. Agree or disagree? You're about to find out. 

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Conversations from the front lines and marketing. This is B two B Growth. Welcome back to the echo chamber. Here on B two B Growth. I'm here with James Carberry, Dan Sanchez, and I'm Benji Block, and we're gonna give you quick rifts, hot takes from in and around marketing. And today we want to talk about the All In podcast. There. I think they're like the twentieth biggest podcast in the world or something. They're high up on the charts. Uh, James, you want to explain real quick what the all In podcast is it all? Or like maybe give some context there. Yeah, So the All In podcast is most of talk about tech. It's a lot of VC guys that you have made jillions of dollars in tech and now they're you know, venture capitalists, but really really smart folks. And I saw this TikTok video the other day where essentially they're talking about how traditional businesses you know, and guy in here I think is that David Friedberg is basically saying traditional businesses are going to be dead in thirty years unless they start to become content businesses. Because you're seeing you know, the Mr Beasts of the world, the Paul Brothers, the Kardashians. You're seeing all these folks that are building massive influence, massive audience. They have attention, and like we've been saying, like we are in the attention economy. Those who own the attention own all the leverage. And what started, you know, seven eight years ago by seeing you know, oh that's cute. They're over there building a following on YouTube. Oh that's cute. It's now turning into people starting burger franchises, candy companies, make up lines that gets sold in airports all across the country. I mean the Paul Brothers with their drinks. Yeah, I mean these influences. It's far beyond cute. I mean they're building legitimate businesses that these folks on all in and are brilliant guys, and they're saying these traditional busin this is have to look at what's happening and start...

...making decisions that keep them from falling into the trap of getting beat by these folks that have built massive amounts of attention online. Mr Beast launched a chocolate bar, became like the number one chocolate bar in the country. He just opened up a burger restaurant last week, Number one. No more than that, like a hundred thousand or something. Kylie Jenner launches a makeup brand, takes off, becomes this billion dollar brand. Kim Kardashian launches a clothing brand, becomes a three billion dollar brand. And here's what I think is the most prescient emin A transaction, And you guys can tell me I'm crazy. I think the most important emin A deal of was when Pen Gaming bought bar Stool Sports, because it shows that every consumer package good or every consumer services business ultimately needs to be a content business. And if you don't naturally have content creation in your blood, you have to go and buy a content business or you're going to die. And that's why I think all traditional brands that aren't oriented and built around content creation as their primary differentiating foundation will not survive and will not be able to compete effectively. And instead, what we're going to see his influencers build and distribute consumer goods and consumer services in a more efficient way because guess what they've got distribution built in. Let's say Coca Cola tried to build a content business today, how good would they be? Not very good. That's why they're gonna end up dying and do you think Mr. Beast Burger could beat McDonald's. Yes, and that's what I'm saying. That's my point. That's why it's kind of saying when you think about it, if Mr Beast had five thousand franchisees. Yeah, but this is exactly my point that I said at the beginning. Every traditional brand will get destroyed in thirty years, and they will get destroyed by the influencers that have built an audience through content creation and now creating businesses on top of that that compete with the traditional incumbents, not technology advantage businesses. I'm talking about core consumer goods and services. They also have to be pen gaming. Pen gaming does betting. You know, there's no real advantage in betting. You build a sports book. That's it. The reason Penn Gaming bought bar Stool is they...

...now have an audience that they can drive to their sports books, right, and so the same will happen. Was still have to make a great product though, I mean that's the other challenge here is can you also be a product savant? Can you be a virtuoso in building products in transition to being an influence? Yeah, And I think that's what him gets right. She makes great product and Mr Beast his first burger was not good. But now this new burger, from what I understand, is awesome. So you have to have both things switched on. Think about think about what's easier and what's harder. What's easier building an audience of two billion or a billion people that listen or watch you every week or building a great burger. It's a lot harder to build the audience and the product, if it's really hard. Yeah, it's not. I'm not talking about complicated cars and stuff or electronic I'm talking about basic consumer goods, cereal, beverages, food, Why not community of music, audience, like like all this stuff that's commodity. You know, betting, I mean this is not the betting is not a differentiated service offering to consumer. So ultimately, how do you differentiate It's the it's the audience that you've now built, the brand that you've built through the audience because of content creation. Yeah, I would say, he breaks. I would say this is a very hot take that I did not fully agree with, But he breaks. I'll break it into three parts. This is what his kind of his hot take was. The First part is that the biggest marketing and advertising deal of two was when Penn National Gaming bought bar Stool Sports. That idea is because they're basically they're buying a media company right that does podcasts, they do all the bar stools is huge. The second part of his hot take is he says it it shows that every consumer packaged good or consumer service business needs to be a content business or they're gonna die. And then the third part is that every traditional consumer brand consumer services company will be destroyed in thirty years by influencers who have distribution built in. So I would say, of the three, the first one, I'm like, I don't know, Like I don't fall low marketing and advertising deals as much to know if...

...that was actually the biggest deal. So I'm fine with, like, you know, okay, he knows more on that one, like for sure, maybe that's right. The second one that consumer package goods or consumer service businesses need to be content business, I start, I'm like, kind of not in my head, I'm like, yeah, I like that. The third one, I don't agree with every traditional consumer brand consumer services company is going to be destroyed in thirty years. I just don't think that's true. Because Coke McDonald's. They have staying power for more reasons than just the fact that people have liked their burgers in the past. They also have the money and the finance to go higher. Influencers, they don't need to be them right now, and they're constantly evolving. So when you see a Justin Bieber Travis Scott get something like the Cactus meal or I think like bieber Head Nuggets, those things did, they actually boosted sales to the point where you could go read the New York Times article The Era of the Celebrity Meal, and it shows that those marketing campaigns truly work. Those are influencers who are driving revenue for companies like McDonald's and Coke. And the same thing is true even with Taylor Swift. Taylor Swift didn't get the halftime show for the last several years because it was a Pepsi halftime show at the Super Bowl. And now when as soon as Pepsi dropped that, because she's a coke girl, who coke advertising girl, she was, there was rumors everywhere that she was going to be the halftime show. She didn't even end up being it. I'm excited for Rihanna, by the way, but I will end this ramp by just saying I think he's right on some things. But the projection thirty years from now that somehow those companies just don't have staying power, in my opinion, is incorrect. Dan, Where am I wrong in my thinking? What are you? What are your thoughts? I don't know. I think you're right to say all is really hard and really strong. There are still taxis in a post uber lift world. They're still around. There are a fraction of what they used to be, but they're still here. There are still profitable taxi companies, just less of them. They were still you know, the people that book your your vacation, you know, a vacation agents, Like,...

...yeah, Like they're still around. Their business model looks totally different now, and now they're just pretty much make money off of affiliate purchases, right, That's how they make their money. Now you don't pay them anymore. Things change, Like, I can't believe that thirty years from now, my local dentist in my town is going to go out of business. He's not, and he doesn't have to own an own an audience. So but I think he's right, and that it's going to make a dramatic shift. There are going to be winners and there are going to be some freaking losers in this transition, that is for sure. Is it everybody know? Is it going to affect everybody in some way? Some more, some a lot, and some a lot less. Right. It's certainly affected the taxi cab industry when Uber disrupted it. So this massive game of attention is going to disrupt a lot of companies. It's going to disrupt industries and some people are going to win and some people are going to lose. Does that mean they all go bankrupt? No, but some of them will B two B growth will be right back. There are a lot of questions on marketers minds right now, and analyzing the latest trends can be a full time job in itself. Can an a R filter really improve brand awareness? Why are streaming ads so allowed? What do viewers really think about shoppable ads? Marketing Group does the hard work for you, dropping a quick to read, free newsletter in your inbox every weekday, covering essential topics from influencers and advertising to social media and more. Marketing Group never misses a beat. Get the answers you've been looking for along with the ones you haven't even thought of yet. Upgrade your game alongside a growing community of over two hundred and sixty five thousand marketing professionals. Check it out by clicking the link in our show notes right now. So, this massive game of attention is going to disrupt a lot of companies. That's going to disrupt industries, and some people are going to win and some people are going to lose. Does that mean they all go bankrupt? No, but some of them will. What's interesting to me as we started Young...

Married Christian last year and so I started meeting a lot of these Christian influencers flown down to Orlando to record our show. The more relationships I've built with these creators that have built you know, and they're not in the Mr based league at all, but you know, I think one of them is closing out on two hundred thousand subscribers on on YouTube and building really solid affinity with his audience and is starting to monetize in different ways. What I think is powerful about the Paul Brothers and the Kardashians and folks like Mr Beast is a lot of creators by nature are incredibly creative people and they don't at least, what I observed in hanging out with them, only a fraction of them are kind of business minded. They're much more focused on the creative and like, what is it that is going to be? You know, it's gonna make this video somebody's favorite video. And Mr Bea says all the time, he's like, I'm just in the business of making the best videos possible. I want to make the best videos possible. I want to make the best videos possible. But what he's showing all of the other creators right now is how you can have that relentless focus on quality and focus on making the best videos ever and still build an enterprise around you in the in the attention that you're able to build with your very specific skill of audience building and attention creation. And so I think you're gonna see a lot more creatives that start to do what he's done. Like he's hiring CEOs for these different enterprises and he's saying, I don't need to go run a burger franchise, I just need to hire somebody that's done that before. And so I think the more creators that you see monetizing and very creative outside the box ways, they're just writing the playbook for how it's going to be done for the next ten, twenty thirty years, and it's it's exciting. I think it's gonna be really exciting to play out. I think what you're gonna see is traditional brands are gonna have...

...to up their game. Like that's why I love capitalism, Like more competition means it's going to be better for the consumer. Like if Logan, if the Paul Brothers end up coming out with a burger that's better than McDonald's, McDonald's gonna have to make a better burger, Like that's what's going to drive them out of business. And so I think, you know, there's they were even going back and forth in that TikTok video about like yeah, but you still have to have a great product. And you know, the guy was pushing mc and he's like, yeah, and building an audience is way harder than building a great product. And I would agree with them, like building a great product not taking any I'm not saying that that's easy at all. That is incredibly hard. As someone that's tried to build two software companies, even building software really insanely freaking hard. But I don't think it holds a candle to how hard it is to to build a thriving audience that knows and and loves you and has deep affinity towards you. I think that is much harder than building a singular product, particularly when it's a commodity product. And so that's that's my two cents on this, James, let me ask you a question. So let's say, right now, do you have affinity towards a B two B leader influencer to the point where if they were to just like give a recommendation, because on the B two B side this is different. It's not it's not a ten dollar burger, right, So then I'm like, okay, could you be an influencer to the point do you have anyone in your life right now that you listen to to such a degree that if they were like by this software, you would just do it, you know what I mean? Like, because B two B is not going to have a hundred thousand people show up for a burger launch in a mall. That's the Paul Brothers can post on Instagram, and because you know, for the audience that they it just drives a different type of reaction. Do you have affinity towards someone like that, and how do you see it playing out in the B two B space. Yeah, I've got affinity like that for sure with Chris Waker, Alex her Mosey, Gary V. Laylor her...

Mosey. Yeah, I definitely think that I've got affinity to the point where somebody tells me to buy something in B two B land and I'm I'm at least looking at it and seeing if if it fits the business need that we have. Yeah. I've purchased multiple things from Tim Ferris, right, same. Yeah, he goes and endorses things on his podcast. You better believe I've tried some athletic greens. His ads are the best because you know that he's also testing his stuff, testing them. I preach about that quite a bit because I love the way he does adds. I wonder when it's like an enterprise sales motion, right, when you're you're talking about multiple people that are involved, it's you're gonna have your opinions and you're gonna bring that to the board, Right, You're gonna bring that to whenever you have to make a decision. But like how that influence works out, obviously it's still better to have an audience. I just think it's a more nuanced conversation when there's multiple people and maybe you're all on the same page, and maybe you all listen to the same people and then it's just gold, you know. But I do think it gets a little bit more complicated. The larger year organization is the slower moving decisions tend to be. But it's never bad to build an audience and have affinity, and uh that I couldn't disagree with. I loved the hot take of this because I'll just read a couple of these comments really fast before we close. But people were all over the place. In the comments on the TikTok, one said I actively avoid products from influencers. The next one like my prediction, Coca Cola will still be king in thirty years. These guys, these guys are jokes. Influencer products are not very long lasting. Coke isn't gonna go down anytime soon. This guy really said Mr beast Burgers could be bigger than McDonald's. Like, people just all over the place. But I love that he has kind of that audacity to bring up something like that because it gets us thinking in a new way. Yeah. Well, and I think when when you're the guy in the TikTok video with tens of millions of dollars in your bank account, gives you a little bit of credibility to the person commenting on a TikTok video that's never built anything in their life, Like you hear that and you go and that's why you're...

...going to look back in ten years and go, oh, yeah, that's why that guy that deck a millionaire got left behind didn't build an audience. Yeah, I think that's you have to take it seriously. But then I just think you gotta also think for yourself as far as how far this will go, Like, there's other ways to win, but this is one that we would definitely be very interested in and we see the value in building an audience, so we had to talk about it. Well. This has been another great episode here of Echo Chamber. If you want to chat with us, you can do that on LinkedIn. We'd love to hear from you, and we'll be back next week with another one of these episodes. Thanks for listening, everybody. We're always excited to have conversations with leaders on the front lines of marketing. If there's a marketing director or a Chief marketing officer that you think we need to have on the show. Reach out email me Benji dot block at sweet fish media dot com. I look forward to hearing from you. M.

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