# 4A's Strat-Fest Fireside Chat 2016 | Gary Vaynerchuk ## Метаданные - **Канал:** Gary Vaynerchuk - **YouTube:** https://www.youtube.com/watch?v=IkZ1pLpGg8g - **Дата:** 26.10.2016 - **Длительность:** 33:14 - **Просмотры:** 33,732 - **Источник:** https://ekstraktznaniy.ru/video/19147 ## Описание Fireside chat I gave on October, 18th, 2016 at Strat-Fest 2016 http://stratfest.aaaa.org/“ -- ► Subscribe to My Channel Here http://www.youtube.com/subscription_center?add_user=GaryVaynerchuk -- Gary Vaynerchuk builds businesses. Fresh out of college he took his family wine business and grew it from a $3M to a $60M business in just five years. Now he runs VaynerMedia, one of the world's hottest digital agencies. Along the way he became a prolific angel investor and venture capitalist, investing in companies like Facebook, Twitter, Tumblr, Uber, and Birchbox before eventually co-founding VaynerRSE, a $25M angel fund. The #AskGaryVee Show is Gary's way of providing as much value as possible by taking your questions about social media, entrepreneurship, startups, and family businesses and giving you his answers based on a lifetime of building successful, multi-million dollar companies. Gary is also a prolific public speaker, delivering keynotes at events like Le Web, and SXSW, which yo ## Транскрипт ### Introduction [] uh moving very quickly on uh the Eide amongst you will notice that we have two chairs uh next to me um one of these chairs is for uh krie Flynn who is a journalist who's written for Huffington Post Forbes Money Magazine and is now business reporter for mashall with a particular specialism in the tech industry the other chair is for Gary vuk who has a formidable um headline which is Gary vuk builds businesses um and that is something that absolutely no one can argue straight out of college he took his family business from three million to 60 million in five years uh he's a prolific angel investor and venture capitalist um with Investments including Uber Facebook and Birchbox he now runs Vena media um social media first digital agency um and has been named to both Fortune um and Crane's 40 under 40 lists this year uh please welcome Carrie and Gary hello hey guys thank you for that great introduction um so yes I'm Carrie Flynn I write from Mashable and here with Gary so I'm guessing you guys I mean you got a brief introduction I'm thinking you guys probably all know Gary vaynerchuk but I would love Gary for you to just introduce yourself when you go to an event how do you introduce yourself well I think you know I think the fragmentation of attention and marketing and coms is so intriguing I actually think how many people here have no idea who I am raise your hand oh that was pretty that was better I'm that was a good ego boost you know usually how I go into conferences is ask that question and the number is always very high and I can always see like the organizer squirming of either they overpaid me or they feel bad for me um but usually I you know I contextualize myself as an entrepreneur um but I always reverse engineer the audience right like my biggest want up here in our next 30 minutes is I was walking around and looking at name tags asked ahead of time we talk like to me what I'm going to deliver is the context of what I think is the most interesting and most valuable thing to talk about to the people in the room I think as somebody who's been on stage a lot I'm fascinated by how 80% of presentations are just one long press release right so I think I take this very seriously and the way I introduce myself usually is under the context of what could conceivably bring value to the people in the audience great well then let's talk ### Garys mission [2:37] a little bit about Banner media in terms of building that out because it seems to me you really went with that mission in mind what did you really want to offer the world that didn't H that didn't exist before so I for I grew up in my family's liquor store business and I launched one of the first e-commerce wine businesses in 1996 and I built my business with no money and the reason it became a big business was because I bought Google AdWords the day it came out for 5 cents a click for the word wine and because I started a YouTube show five months after YouTube came out and because I had an email newsletter in 1997 that had 91% open rates be and so my entire narrative has been very simple and I think for all of us in this room I think the world is pretty basic mainly because I'm pretty basic which is there's overpriced attention and there's underpriced attention and while most of the world spends a lot of time trying to quantify and find the ROI of underpriced attention I think the better model is to be a practitioner on your intuition around normal people's behavior learn it and maximize the ROI so I did that for my family business that went great then I invested in all these companies Facebook Twitter Tumblr made a lot of money and then I decided in my continued mission to buy the new Jets though they're testing me um that the way I was going to do that was to buy Brands and flip them so I think Nostalgia is the most underpriced asset in the world and so my dream is to buy tootsie rolls or k Swiss sneakers or what have you at scale 50 60 10020 million do the thing that I do and then flip it for $1 billion and that's how I think I from a self-aware standpoint can achieve my audacious goal to do that I knew that I needed to understand marketing and media at the scale of which I wasn't playing at as an entrepreneur and as an investor so I decided seven years ago to eat [ __ ] for a decade and build a client service business and and um and I needed to learn why all these big Brands were doing the things that I thought were stupid because I didn't have the audacity or the ego to think they were stupid I just knew they were playing a different game I had to understand why I'm a bad student I learned by doing and so I set out to build the best marketing machine is what I would call it more than an agency and so you know we've grown very fast first two years I was still busy with the wine business and I had a book that went very viral that kind of dragged me out there and but for the last five years I've run the business we've gone from 30 to 750 people from 3 to 100 million in Revenue all organic no m& a so we built a real big business and I think we've done it because our interests have been aligned with our clients because I'm not trying to build an agency to sell to Martin cell I'm trying to buy build an agency for myself to become my clients which has allowed us to be very aligned with our clients which is very different than the marketplace of media agencies and marketing agencies and we also do every capability because I'm building it for myself we do media buying and creative and analytics and Dev and so that's why it happened well let's talk about the early days ### Early days [6:00] then you said you looked around and saw all these Brands doing quote unquote stupid things yes let's what are you don't have to name names if you want to but give me some examples about what were people doing wrong yeah I mean look I mean to sit in this room in October 2016 and have you know it's funny let's take this go out with one of your friends that has nothing to do with marketing or business and explain the following okay so here's how it works a human a single human at an agency a creative lead and another human on the brand side and let me tell you about the human on the brand side this person went to business school to sell stuff and run an operational p& l these two people sit the creative single person humanly makes a subjective call on a tagline and a video concept narrows it down from the seven rate ideations of his or her team to one or two because you only have an hour to present it go to the human that is there to run a p& l and the two of them make a subjective creative call of what that business should stand for the entire year and then that company takes 60 to 80% of its monies and makes a single 30 second video to be played in a commercial format in 2016 and this is to drive the sales of their business there's no common sense human on earth that thinks that's a good idea we in the marketing World play that game I think that's Insanity that excites me that's the opportunity awesome no but really I mean like hon a like I mean I you know I don't know who does what I mean and I could be wrong let the market play itself out but who watches a commercial in 2016 like so here and I want to quantify this I'm not a digitalist or a futurist I think the Super Bowl commercial is the number one Buy in marketing if I buy a brand tomorrow then and I have a limited amount of money the first thing I buy is the Super Bowl because everybody in America is going to pay attention to that whether they watch it on YouTube or during the game and I have 30 seconds to tell you what I'm about the problem with Super Bowl ads is they're a showcase for Creative agencies to get new clients and acquire more Talent they're not there to sell [ __ ] right so I think that's the Best Buy in marketing I think the worst Buy in marketing in the world is the second most expensive commercial on television I don't know what that is whether it's the Oscars or the AFC Championship game or the emys I don't know what it is but it's the worst because we don't watch those commercials it goes to Commercial and we grab our phone and we talk about that dress or that play or what just happened our attention's not there my living is very simple in my bio where it says I build businesses I don't know what paper my team sendss around these days but on the website it says comma I day trade attention is the only asset it's the only asset and there's overpriced attention and there's underpriced attention Direct Mail is overpriced attention it works spend $100,000 in direct mail you will get things to happen but when you know that there's a Facebook targeted world out there that you could do it better and cheaper that's a better idea and so that's just what I spend my whole life doing like what's overpriced what's underpriced what's practical I try to put myself out of business every day if I started Vayner media today we would be an Alexa voice message bot top level domain consultant video production vertical phone shop so so um I don't know what are we talking about well I think yeah we're just ### Conquer [9:55] discovering about what you guys are I mean you talked about television you talked about Facebook so from you know I would understand the people in the room here can say there are certain agencies that specialize in television digital there's certain agencies that yeah like you're saying are specific voice recognition chat Bots you guys do actually want to conquer it all yes and when I say conquer it all a my first level of responsibility is to deliver for our clients because they're paying us so vayer in its current form today what we want to do for living is we want to spend our clients money in a way that sells them the most stuff or whatever they're trying to achieve and we are completely agnostic to where that is I built my career on Twitter it's where I came out of for some of you that know who I am I wasn't happy that Twitter was losing attention in 2011 but when I was making those videos five years ago like I'm worried about this like I was worried about it I was at the top of the Heap I was one of the 25 most followed people in the world on Twitter like life was good I wish Twitter stayed for a thousand years it would have been easy I was happy to put in work on Vine and Snapchat and Instagram it just it's not my choice and what I'm fascinated by is how many people are willing to draw lines in the sand and hold on to things because they're in their short-term Financial vested interest it is a massive business vulnerability and uh so what do people need to get rid of like if you had to give people a list of like three things maybe people should stop doing their current agencies emotion emotion's a good thing to get rid of and I mean that I think like a lot of things that are holding people back is the emotion of it they hold certain things on a pedestal we hold for example let me give you a good example we think somehow in our current Society we've decided that if you write another human being a letter that you are somehow now the greatest [ __ ] human being on earth like we put things on pedestals for no reason we are so scared of change that we put writing a letter on a pedestal cuz this somehow means you care so much versus a text which at the end of the day are exactly the same thing if you write the same thing it's the message is the same it's the medium of delivery so I think the first thing that people need to do is actually get rid of emotion number two is have a real conversation about measurement yeah like measurement is you know one of the great things that happened to me is I started an agency knowing nothing about the business and I mean nothing I knew nothing it was actually quite stupid but you know um but what I did know was my life as an immigrant that had a family liquor store business our kpi was not winning an award in France or getting a headline in a magazine or some [ __ ] modeling mix that was manipulated to force the company to spend money on what they believe in like R kpi was selling Peno Gia right and so having that DNA has helped me the amount of time I've walked into a meeting where the Millard Brown case study the data logic study and the mmm have said everything is phenomenal and the business is down 17% is way too often and somehow we accept that so I think we have to have a far more serious conversation around measurement because we're measuring the wrong things this is we are absolutely somehow eliminating Common Sense from the equation um I mean there's a lot I mean there I just think it's fundamentally fascinating I mean I don't think agent agencies are built to have aligned interests with their clients which is why you get into weird tactics I think there's hidden cost in production which is ludicrous I mean I don't know I think the whole thing is f i don't think it's by the way who am I I'm one dude I just think that it's a very interesting ecosystem like I went to a meeting where the first presentation was by a PR Company that claimed that some mention in Huff po 14 pages into their website attributes 80 million impressions for the month I mean like we're just playing weird games I think we're lack we're just eliminating common sense and I think that's a huge mistake yeah I think ### Metrics [14:07] metrics is a great thing to talk about in terms of that so what in terms of what you're focused on when you present to your clients I'm sure they still expect you present a report of the traditional metric we do tons ofit stuff we we do ton of horseshit stuff because we they force us to after this conversation we say to them we want to measure sales we you know the thing donations like the thing like TV clients neelon ratings because that's your currency that you make money on like we want to measure the thing the problem is 99% of our clients do not put us in a position to measure the thing which gets me into like why doesn't anybody want to measure to the thing right like I think nobody wants to be held accountable I think one of the great things about Corporate America and agency landscape that I didn't understand was I used to be mad at everybody mad that you didn't care enough to do the right thing then what I realize is I can't be mad at you the game is structured in a way that people are playing within it because you have mortgages and a family like you're just you're making decisions not on what you believe you're making decisions on what is palpable and acceptable within the ecosystem that's created I get it I'm more empathetic to it here's the punchline though if you're doing something to grow within an organization or not rock the boat and have stability it doesn't mean what you're doing is right it just means it's right for you within the context of the game that you chose in that human vulnerability is enormous amounts of business opportunity I plan to exploit that so in terms of that like you have these conversations but people just don't want to change right so how do you make people change you just keep doing you don't I could care less if anybody changes as a matter of fact I'd prefer that nobody changes because when I get to the second part of this it'll give me more time to do my thing so I just want to be historic correct and I want to inspire some people that just need a little tip to go do the right thing and I want to look back at these videos and be like [ __ ] you were smart and I just want to just like just I mean eventually see what's interesting for me is there's a whole next generation of people like and this is going to create business opportunities I'm right and everybody knows it because you're right you know it I'm not a genius I'm just in a situation where I'm allowed to talk about it in a way that's different than a lot of people everybody knows you live your life one way and then put you put on your clothes that you wear to work your jersey and you act totally different because you play Within the context of what's acceptable you don't believe in the [ __ ] you're selling and I don't mean all of you like a portion of you I just genuinely believe that you know why because at 3:00 in the morning a can after a bottle of Rosé you all tell me so I don't know like it's interesting and this happens everywhere like I yell at kids to not take VC money because VCS are giving you advice because they just need one home run and they're going to drive all the rest of you into the ground to overextend your business because for their business they just need one so like I think you have to understand the seed right like most of the agencies in this room and in the market are part of holding companies that are publicly traded companies which means they have to basically play a 90day you know Wall Street Dynamics which that's what Maps their behavior there's no HR talk you know like but for me there's HR talk I spent all my time on HR comma I'm the CEO because I'm building something for the rest of my life and I need these people so I have to care about them so again it has nothing to do with like anything other than if you understand the Northstar and you can reverse engineer it that is where all the true answers are well then pay me a picture ### VaynerMedia [17:54] of how Vayner media looks I mean you call yourself the CEO what does CEO mean at vayer who do you surround yourself with that perhaps I'm sure as you know like is different than the current maybe structure of other companies here no I think we have a lot of similar structures I think the only difference is that Claude silver my chief heart officer is the number two person in the company and that my CFO Scott has no say right so like we're not financially driven right so that's probably the only subtle difference we look like everybody else you know I've tried because I had blind you know had naive eyes I did a lot of different things but there's a lot of tried and true in the way you should be structured I think the thing that the one thing that my leads know is I don't want so nobody's incentivized to grow business so one thing that's weird about us is a lot of people come from all these great shops and they think they need to grow the p& l because they'll get a bonus and that's good for them so I've eliminated that because I want our team to play well in the sandbox with other partners because that's the right thing for the client and the only way you can really do that is if you create the infrastructure for that because if you incentivize them around dollars they're going to fight for dollars right so the only thing they have to do is be historically correct like to me people are going to move Brands this and that like a lot more people give us business today by the things they thought we were stupid about three years ago and now they believe in right people don't forget so I don't need to win the scope I need to make sure that everybody understands where we stand on how it plays out and what's in the best interest to sell the product and so those are the things that are different but otherwise I don't know we have a creative Department we have account we have strategy insights analytics it's the same horeshit well if you had to you know add a new division or expand in a certain way what would you do next unlimited resources what are you doing next well I think we're I think we do that I mean I I'm losing all sorts of money investing in you know message bot infrastructure we have Vayner smart the L every day with departments that don't return because the clients don't want it yet to me I'm always building for something that's 12 24 months ahead of time I don't think you should build anything for five years out I think that lacks practicality I think if you see the world in a 12 or 18month window and you can go there that feels real and that's what I've kind of tried to rinse and repeat so we do a lot of that you know we invested in vertical video people two three years ago because we saw that playing out and that's worked out for us because the market is moving more in that direction we you know we invested in 70 you know what I would call new digital paid media people who probably believe more in feed dynamics of social networks than programmatic Banner buying or you know things that nature that's working out for us so I think you know I'm it's not even unlimited budgets what I think I'm doing now which is if I believe anything is Meaningful to sell something or communicate something we will invest in it immediately we have analysts and strategists who spent time on analyzing musically a year ago you know and so that's just kind of how we go awesome well mean c you guys have ### Offices [21:07] offices in multiple places do you want to grow your physical presence anytime soon yes so we've an office in um New York La San Francisco uh Chattanooga Tennessee and London so I'll speak about Chattanooga is one of probably five to seven more offices that I will build in City that are not New York La San Francisco and Boston there's another part of America I don't know if you've heard and there's a lot of it and so I want to have offices there because if I buy a brand that mainly sells in Middle America at Dollar General having a footprint in these markets for a decade is going to be smart same thing with London and Asia and other places we will expand I'm only I'm very single-minded I'm going to buy brands that are underpriced because big holding companies are not supporting great Brands because they don't have the money for it they're only supporting the top five Brands they're going to sell it to me for a nickel on the dollar I'm going to buy it I'm going to refurbish it in a 2022 World for whatever that is and I'm going to run it through my machine with the people that have been with me for 15 years because we give a [ __ ] about them and then we're going to build the [ __ ] out of it flip it buy the New York Jets win Super Bowls so do you see yourself then it's keeping Vayner media like as it is you know when you buy the jet is Vayner media still going to be around that's something I didn't see which I hate talking about I thought I would build like a 100 person shop it'd be great we'd buy a brand you know I'd take 40 people over to it I would help the other 60 get jobs or put them in my other Investments like really take care of the crew uh and move on my Merry way what ended up happening is look we've gone from 30 to 750 people in four years five years like there's going to be a lot more people than I anticipated when the brand comes so now I've start you know I've written a bunch of books I've started writing one called the B accident billion dollar company and it's really The Chronicles of building Vayner and why I did it and what happened and why did I why was I able to build a big big business really fast because our interests are aligned with our client like it's just you know it's always things it's always at the tippy top right like everything that's broken in Vayner media my fault everything is about the top so um now I realize oh [ __ ] I'm going to have a holding company of Brands but in parallel I'm also going to have Vayner media I'm going to take the top talent each year and graduate them into the brands that I own but two interesting things are going to happen one I think I'm going to be able to get the best talent in the world into vayer because if the word on the street is if you go work at Vayner and you crush it that you can then go and work on Hershey's Kisses or what or kids and get a piece of the action and make lots and lots of money that's going to bring unbel unable talent and two when I go pitch for new business at Vayner media instead of saying like here's our Sizzle reel or our capes I'm going to be like hey four and a half years ago we bought Snickers it was doing 237 million in Revenue now it's doing 8. 7 billion because of what we did that's our pitch [ __ ] well so yeah I mean convincing someone to work at beta I don't think should be too hard that I don't think so I think like look I mean like everybody here knows it that works in it like and they respect it and I respect it I'm not mad at a holding company they're not you know what are they like this is not nonprofit World it just you have to be smart about why things do what they do and I think that I'm excited to create a new model in this ecosystem because one thing I have done is fallen in love with the DNA of the people within it these are storytellers these are salese like these are this is cool this is what I am I didn't realize it but like this is what I am too a little bit of a different version of it but pretty much what I am and so I think the machines that have been put in place aren't great for the people and I think that it's I'm not going to be able to employ everybody what I'm going to do is be ridiculously successful and Inspire Sally to go and build it too and create all New Alternatives great well we have about ### Audience QA [25:13] five minutes left so I wanted to open up to audience Q& A that's you let's do it firing any questions anyone here questions awesome uh you said you don't incentivize people for new business how do you go about new business do you find that people are coming to you because they know you do you get involved in pitches how do you go about growing both of those things and then the other thing that I didn't know because I wasn't from the industry is when you do really good work and people believe in you and they go move to other companies you get them right so a lot of it comes from my personal brand Equity like I'm not building the Gary V [ __ ] for just my ego you know and so um we get that but at this point we're at such massive scale you know whether it's the GE work or Pepsi work or the Toyota work or you know we're out we're doing a lot of business and a lot of people are moving and we're just winning word mouth again I'm telling you as cool as I am and I'm I go to the sales meeting I'm a great salesman it's the only thing that matters is the stake not the sizzle is the gateway drug to the stake and that's why we're growing what percentage of what my friend of incentive compensation like if we grow this business they'll kick us back dollars zero and by the way I'd love to do all of it that way the problem is these CFOs and procurement in Corporate America think I'm an idiot yeah like the incentive plans are ludicrous and by the way I would take it but nobody's we're not big enough yet or like real enough yet for Corporate America for them to really let me control everything I'm not going to be at the mercy of like digitas is Media plan you know I have to run it and that's not a d a digitas first thing you know that's it's just the I need to be if I'm going to be if like I'm like on the line I need to control everything then it's real right so zero so far though it's kind of weirdly what I thought I was going to do you know stinks but I think I'm going to play the ultimate version of that when I write a check for $88 million right to buy pop rockets you know like it's you know it's gonna that's the ultimate putting your money where your mouth is and that's what I came from that's what I'm actually way more comfortable with all this politicking horeshit ### Strategist QA [27:58] hi I'm behind the pillar I'll step forward that's awesome um how are you hi uh since you said you want to serve the people in this room they just heard about a half an hour ago that they're the most depressed people in the agency I'm sorry they just heard they're the most depressed group of people who these people mhm they're in the agency world because they're strategists okay what do you say to them I mean what's you know what do you say to help you know I probably can't you know one thing that I've really enjoyed about me getting more comfortable in my own skin is I like saying I don't know more than I used to I'm not sure to how to fully answer that I'll tell you I'm a weird guy to ask that this I don't know how this is going to come off but I was really against having a strategy Department because I was like why would I hire people to just be a count like and just be you know management I need people to think what you guys know what I've learned is not everybody can do both I've come to learn that um you know I don't know why they're the most depressed from what I've learned and this is great I think you guys might enjoy this cuz this is really coming from left field and I don't have a lot of good data on this other than my own experiences I think you guys are being held on a pedestal in most places right like I when I look at a lot of places that I've like I'm so surprised that like nobody talks until the strategist talks or things of that nature I also think maybe I saw the lovely lady with the camouflage shake her hand I was like okay then maybe she means like the like to me it's crazy that the cre like in a creative shop the creative is the most powerful in a world where this is all subjective until it hits the market you know I so I don't know the context to why the market would think strategists are the most oppressed is it because strategists are similar to CMOS which is they have say but not the ultimate say and people [ __ ] up their thoughts in execution I'm not sure but here you know maybe so but here's what I'm going to say but then creatives are going to talk about how the media plan [ __ ] them up and this and like everybody's [ __ ] crying like every discipline is crying if this was a [ __ ] creative they would say that like everybody's crying I think people need to stop crying that we need to I think people need to start understanding how much of this is subjective we by the way the agency Big Brand world everything happens up front all the fighting and the jockeying and the work and the debating all this [ __ ] happens up front guys we live in 2017 this all needs to happen after it hits the market I mean this whole thing is so [ __ ] up it's built for television it's not 1986 sorry go read what happened in the late 50s and early 60s mid-50s early 60s on the transition of radio to television that's what we're living through and then you will start making very different decisions in your career and probably in your strategy meetings are you proba have time for one more yeah let's do it hi Gary how are you good thank you great so I'm an immigrant too and I totally support your Ambitions and I believe you'll buy the Jets one day I totally do um I love you and I'll be the one cheering you on thank you but um I'm just curious uh how you see America has changed for you to execute those Ambitions from when you were a child till now that's a great question I think not a whole lot I mean that I think what immigrants especially Soviet immigrants that truly come from communism understand is there's certain things that are worse bettered you know it's evolved but like I always deal in Alternatives like here's what I know in the last eight years 12 years actually at last 12 years I've had friends on both sides of the aisle who told me if this person wins they're moving to Canada right if Bush gets reelected I'm moving to Canada if Obama gets re-elected so far nobody's [ __ ] moved to Canada so you know I don't I for me to ever think for a purebred entrepreneur to ever think the president of the United States has any impact on her or his ability to execute in this game they're a [ __ ] loser so I don't think it's changed at all I think there's a lot of different Dynamics and I think if you really really want to look at a macro level you know what I'm most thankful for that it's even for all the horeshit we have around gender and minority or things of that nature my daughter is in a better position to execute than she would have been if she was my age it gets better I don't give a [ __ ] what the world tries to tell you of how bad it is because that's what drives neelon ratings on mainstream media it's [ __ ] good it's good like the problem is we are sold the 1% that's bad every single day 247 365 so I think it's great super opportunity I think that's a perfect note to end on the opportunity point Thank you