Hey, I'm Dan! I invest in early-stage startups at Madrona and write the DL, a weekly newsletter about tech in the PNW

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Quibi Quotes

If you haven’t downloaded Quibi yet… don’t worry about it. No one else has either. Despite raising $1.8B and launching with content from JLo, Lebron, and Steven Spielberg, they only have 1.3M active users. (For comparison, Netflix signed up 16M new users in Q1)

Jeff Katzenberg, the founder of Quibi, did an interview with the NY Times last week with some quotes that I found pretty entertaining:


On COVID…

I attribute everything that has gone wrong to coronavirus. Everything.


On raising $1B+ and not testing your product…

There are a whole bunch of things we have now seen in the product that we thought we got mostly right, but now that there are hundreds of people on there using it, you go, ‘Uh-oh, we didn’t see that.’


On a big investment in news shows called The Daily Essentials from NBC, BBC, Telemundo, and ESPN…

The Daily Essentials are not that essential.


On the success of TikTok…

That’s like comparing apples to submarines. I don’t know what people are expecting from us. What did Netflix look like 30 days after it launched? To tell me about a company that has a billion users and is doing great in the past six weeks, I’m happy for them, but what the hell does it have to do with me?


Lesson Learned: Don’t take that NYT interview when you are significantly underperforming, and all of your competitors are thriving!


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