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Podcast: Growth Everywhere | Entrepreneurial Stories | Business Lessons
Episode:

How The Morning Brew Co-Founders Hire The Best Media Talent & Think About The Future
Category: Business
Duration: 00:30:47
Publish Date: 2021-05-10 13:00:00
Description:

How The Morning Brew Co-Founders Hire The Best Media Talent & Think About The Future

Today we speak to Co-Founders Alex Lieberman and Austin Rief of The Morning Brew. This daily email newsletter is an entertaining source of news and information for over three million subscribers. From its small beginnings six years ago, this digital startup has grown to the point where Insider Inc. bought a controlling stake in the company for a reported amount of up to $75 million last year. In the show, Alex and Austin give us some insight into how they began working together and grew the company from a small newsletter into a multi-platform media brand. They explain how they built a strong team and managed to level up by recruiting the right people. Hear about the future of newsletters in light of the success of Substack, how they foresee the development of the creator economy, and what business trends they find most interesting going forward. They also share why they are so prolific on Twitter, their thoughts on other platforms, and how Austin is using his Twitter account for investing. Tune in today!

TIME-STAMPED SHOW NOTES:

  • [00:14] An introduction to Alex Lieberman, Austin Rief, and the Morning Brew.
  • [01:09] How Alex and Austin began working together, and how they have maintained a strong partnership over the years.
  • [04:15] Insight into the business model: How they launched a newsletter and grew into a multi-platform media brand. 
  • [05:50] What the future of newsletters like this in, in light of the success of Substack.
  • [06:58] The pros and cons of subscription versus ad-based content. 
  • [07:20] How they use standard start-up tools to track revenue.
  • [08:21] The challenges of building a strong team and how they managed to level up through it.
  • [10:37] The benefits of recruiting from their own readership.
  • [11:02] Insight into how they recruit great writers.
  • [12:14] Alex and Austin explain why they are both prolific on Twitter, and share their thoughts on expanding into other platforms.
  • [16:12] Austin talks about how he is making $650 000 a quarter through a rolling fund that he promotes on Twitter. 
  • [18:39] The long-term plan for The Morning Brew: Growing the audience as the company continues to grow into a multi-platform media brand.
  • [20:45] The business trend Alex is most excited about: the development the of creator economy. 
  • [22:17] Why Austin is interested in businesses that support creators. 
  • [24:56] Some figures related to the success of the business.
  • [25:26] Why they chose to sell part of the business to Insider Inc. 
  • [25:51] Alex and Austin share their favorite business books.
  • [27:58] As Alex and Austin tend to be addicted to social media, they share their favorite business tools for monitoring their time online.

 

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