Anyone who has spent much time with me and discussed various ways of building media businesses has likely heard my stance on venture capital and media. In a nutshell, a major contributor to media’s woes over the past decade has been an overreliance on venture capital, making media executives dependent on it.
I don’t blame VC for this, of course. Adults run these businesses and they’re the ones who decided to prioritize growth over sustainability. And since growth looked so good for so long, investors were more than happy to invest.
Ben Clymer is founder and CEO of Hodinkee, a media and commerce company dedicated to the luxury watch market. What started as a personal blog thanks to a watch from his grandfather has turned into a highly respected business that can sell millions of dollars in watches in minutes.
In this episode, we went through the many different facets of the business, but a few things jumped out to me…