Hi everybody, it’s Gary Vaynerchuk from Wine Library TV and GaryVaynerchuk.com that’s where we are right now. And I really wanted to address this Revision3 thing, I feel like too many people have asked me about it, so I’ll address them. But I’m going to address it more global. As you could tell by the title of this video, “Why do we wait for hard times to make smart decisions?”
And so everybody’s saying, “Oh the economic meltdown…” and “Oh Gary you’re so bull crap. You’re saying that things are good”. I am saying things are good and I’m going to tell you why, for some reason, it takes, you know the news of crisis or things to that nature, to me people rethink stuff. You know sometimes people have a death in a family or near death experience and they relive their lives Matt, you know they go on different direction or just more simple not as epic and large.
When you’re running a business, when economy gets at little tougher, you start making better decisions, you start looking. And so what revision for me did, in my opinion, we just made some really smart decisions. I mean let’s-- I don’t really know much about their epic food deal, but let me definitely tell you about the shows that they cancel and what they did with me. Obviously, the shows they canceled just won’t getting viewership and it was tough for them to monetized. I mean, you know that’s what networks do all the time. I mean obviously, Martin Sargent and Sarah, these guys are amazingly, amazing you know internet superstars with a lot of track record and equity and so, it makes big news. But at the end of the day, the internet superstar or popstar were won’t doing well, they needed to cancel it because they were spending funds and money and effort and time on building something they weren’t able to monetized against, something you should think about with your blog. Have you positioned yourself to monetize?
Anyway it’s like, “It’s 10 o’clock, do you know where your children are?” And with my deal, you know Library TV was a distribution deal with Revision3. I mean, what they had at the end of the day was the right to turn on episode of Wine Library TV into a smaller episode of Wine Library Reserve, where Glenn would edit it down. But that was a lot of work because you’re going to take a crap load me and you know and then shrink it down to five minutes and you know, that’s just a lot of work and tougher to monetize because so much 90 something percent of my traffic comes to WineLibraryTV.com or actually iTunes as Matt. Link up the iTunes link, if you want to watch Wine Library TV on iTunes, we’ll link that up for you right now.
So you know they weren’t getting the mass of the traffic so it’s hard for them to monetize it, it wasn’t their own property. At the end of the day, I would’ve kicked my sorry ass off there too. Heck, if I was in the reverse, it would’ve never happened in the first place, you need to control your own game, right? I mean, at the end of the day, you know, they need to make smarter and bigger, and better business decisions, and if the economy which I’m not so sold that that’s the rational, ,made them, you know shed their fat and focus on entities they own and can get ROI against, that makes a hell lot of sense to me Matt. I mean there’s no reason that they should not be able to monetize against me and spend all that time and effort.
So it made a lot of sense, I totally get where they’re coming from, I give them kudos obviously, for me on my end. I've been-- nothing changed before or after, I think Matt here is a little happy because he’s got one less thing to do a day. Obviously, I had a lot of fun being part of that platform, it’s a great platform and I wish those guys well and it helped me pick up new fans and that’s probably the downside but it’s really no different than me stopping to upload from YouTube. I mean WineLibrary.com has always been the home and the traffic. But at the end of the day, with the real question on Revision3 and everybody else is, why do people wait for the tough times? This is why such great businesses are built during these times that’s why I keep telling you to go out and hustle, and build something right now because you’re going to be making really shrewd and sharp business decision with real ways to monetize. Because that’s not stupid being flowed around or stupid theories, or stupid decisions. People are tightening up which means that it’s going to be tighter, stronger and better from the business models.
So kudos to Revision 3, I hope other people are going to start making really smart decisions because that’s how you win and you know that’s it. Make smart decisions whether the economy is or bad.
Transcription by:
Scribe4you Transcription Services