Transcription
Thank you for coming back here. We've got so much to talk about this week.
We're going to meet Michelle Obama together. Next first lady, Michelle Obama. I'm actually flying to America tomorrow morning to have a conversation with her. One of my burning questions is how has she maintained a 32-year marriage to Barack Obama? Thank you. Thank you. What relationship advice has she got for people like me and you that are working really, really hard and sometimes, if we're honest, neglecting our relationships? I think if there's anyone in the world to ask for love advice, it would be Michelle Obama.
Think about your favorite company. And now imagine that they let you see in every meeting in every room from day one. Boy, I've forgotten how much work it actually is to start a company. It's a lot of work. We're building a media company and an investment fund. So, what does that mean? In our studio, we create and scale new shows. You might have seen these Flight studio shows, but they're really taking off. I mean, top 10 stars. We're live all here at Flight Studio. Use that audience to accelerate some of the most exciting companies in the world that I have invested in. This is Flight Story. But first, I have a flight to catch because I have a meeting with Michelle Obama. Come with me.
And for those that don't know, we record the show now in London, in New York, and in LA. So, I fly between the three recording the shows. And in fact, all of our talent at Flight Story will be doing the same.
So, ahead of podcast recordings, because you have to sit there sometimes for 4, 5, 6, 7 hours at a time and speak to a scientist or someone that's super smart on a subject, the things I think about are hydration. Um, and the bigger thing actually is for me to avoid carbs. And much of the reason why I do keto and I try and stay low carb pretty much all year now is because when I have glucose, um, and high carb diets, I fluctuate so crazily that, um, I find it hard to think during the podcast conversations, and I noticed that I bumble my words. So, a little bit of a word of advice for anybody who is presenting, pitching, has a big meeting, anything, a big sales pitch, a big investor meeting, really, really, really think about your diet. In the previous 48 hours, it has a profound impact. And actually, right now, as I stand here, um, I've been basically on a ketogenic diet now for a couple of weeks. So, my mind is very, very sharp. My words are coming out my mouth very fluently. Um, yeah. Anyway, gonna get my cab, find my way to my studio. This is like my my fake home.
Oh, I love your house.
Oh, thank you. You're live.
Good to see you, man.
Good to see you. How are you?
I'm terrific, thanks. How are you?
Really good. How was the podcast yesterday?
It was good.
Yeah, it was good.
Good.
Yeah.
Yeah.
Yeah.
What does someone like me at 32 years old who is in a relationship, who is aggressively pursuing a career because I feel like I've got to build and build and build and set my family up for the future, what advice would you both give me about navigating love through that part of your career where it's go go go?
M, for somebody with your personality in particular, um, my advice would be that, um, you know, I could see you thinking, you know, if we're if if if I've got my stuff together and I've got my path going over here and you've got your path going over on over there, you know, as long as we're both trudging along, you know, and pushing, we're going to be good. And generally that that can work because you can be two independent beings out there with, you know, basically slaying your own dragons, right? Making the choices about which dragons you slay and how, you know, how how much armor you want to use. You know, you're you're independent people and that feels good right now until your first and most important joint project happened, which you told me you want. You have kids, right? That's oftent times when the rub happens because when you when you bring life into the world, you know, that's the that's the project where you can't do that independently. You can't you can't be on one path and your partner on another because raising those kids and making them as whole as as you'd want them to be has so little to do with the dragon you're slaying now than it does with how you partner and engage and and and make choices together on this these little creatures that you're going to love more than anything in the world. And you're not gonna want to get that project wrong, but you've got to work with your partner. You got to communicate and that's when it gets really hard. I do have more everything.
All right. To Stephen, you are truly an amazing young man. and I love your podcast. It's so amazing. Like and subscribe and it's the best podcast and I've just never seen a grip better podcast and um it's really important that people subscribe. Um love Michelle. No, I can't read the rest of it. You be to to know you much love Michelle Obama to Stephen. You are truly an amazing young man and you something would know. It's an honor to know you. An honor to It's cryptic. I love I like it. I like giving you I like it. Going to spend the rest. I like that. Well, maybe you definitely have to get her number now to find what this is. Brock will know. I need Brock's number to know what this says. Great. Well, everybody.
Yeah. Hey guys, uh it's Will here. I just wanted to jump in and say a massive thank you. You might not know this, but you are truly enabling something that was once a dream of mine. You see, 2 years ago, I dropped out of university and moved all the way across the UK to start this channel with Steve. And it feels so surreal that we have this channel together and that you guys show up every week and for some reason take time out of your day to support what we're doing here. It truly means the world. And we've made you a few promises saying that we're going to make the channel bigger and better. And a part of that is bringing along exceptional people like Alex. Hey guys, I've been following Steve. Really excited to be part of the journey. It is currently midnight and we are here in the office editing, getting it all ready for you guys this Sunday. So, thank you, thank you, thank you so much. And if you guys can support us and do us a favor by hitting that subscribe button, it would mean the world. So, back to the episode. Michelle has really punched me in the face with some of the wisdom that she shared with me about relationships, and I'm going to talk to you about that. But before I do that, I need you to do something for me. And this is for our whole Behind the Diary community. Um, I consider us all to be friends. So, we can share this information uh amongst friends. In the comment section below, tell me four things. Are you in a relationship? How long have you been in that relationship if you are in one? What is the biggest challenge you've had in your relationship? And lastly, what is the single best piece of advice you can give the rest of this community that you've learned about how to make a relationship successful? Please leave that below. I'm so excited to to read through all of your advice and comments, but also just to get to know you guys a little bit better.
The thing that Michelle said which has really stayed with me was this overarching idea that your relationship will fail if you're too focused on slaying your individual dragons. I kind of see a relationship as three plants. You have your own plant which you need to water. They have their plant they need to water and you have the shared plant that you're kind of watering together. And that's kind of what I heard Michelle say to me, which is sometimes we're so busy thinking about ourselves that we really, really forget that there's this third thing, which is the relationship, which needs attention. It needs watering. And I think as very busy people, as I know you are, because I know what you guys do, cuz you told me in the comment section a couple of weeks ago, um, one of the things that I need to do, even though it doesn't sound romantic or sexy, is really schedule my relationship. If you don't schedule relationship, if you don't make dedicate time to it literally in the calendar, it will become the residual beneficiary, which means it will get whatever's left over. So, what am I going to do about this? I'm going to go home. I'm actually seeing my girlfriend. She's flying back in from Bali. I'm going to get some flowers. I'm going to celebrate her. And then we're going to sit down and schedule our relationship over the next couple of weeks and months and put time in the diary for time to water that third plant which is the relationship. And people ask me all the time they say like you know how do you have a relationship and also run the businesses. Well actually the thing that wisdom and age has taught me is that my relationship is actually the foundation of my businesses because where I come home on those hard days and I have someone there for me and with me. So you know relationships aren't the enemy of your business. They're actually the foundation of your business and success if you're in the right one. And that is something only you can know.
Anyway, at the end of this episode, I'm going to introduce you to my girlfriend. I've not really introduced you guys to her before. Um, I've got a meeting with Jack now to talk about the future of the diary of a co because as you've probably seen, podcasting has got so competitive and so sy that we really need to start thinking about the next era of the diary of a co. The first thing is like where are we in the where are we in the story of video podcasting? So when we started we were like new and disruptive in the way that we did it on on YouTube. When we first started we were clearly like very very early. We were a pioneer in like video first podcasting trailer this thumbnail like this with the red and the white. And now we're at a place where everybody is doing a similar thing. And so you would think you're at like the maturity phase of the cycle. So in an S-curve, all innovation happens in S-curves. I assume this is the same. And so in the S-curve, where are we in video like podcasting on YouTube? We are here where everybody is doing the same thing. You know, someone someone said to me in an interview said the problem that you guys have is when you're like a smaller show, you're you're looking for someone you're looking at someone else and you're trying to compete with someone else. You guys are just competing with yourselves. Yeah. So like you're not really looking what the the innovation is happening like you have to become the innovation. Yeah. Which I feel like we are kind of trying to do. So there's all these iterations as like okay you can make the thumbnails better make titles better we can make we can ask better questions we can even push to make better guests that's going to get us a marginal improvement. So that's the that's that game is we can win on we book the best guests we get Michelle Obama we get sket we get Mr. at least play that game. And then there's the more radical approach. And so you we can play in the the blue ocean. The blue ocean is the highly contested waters where everybody starts competing on the same factors. This is a prime. Have you read this book, Blue Ocean? No. But you told me about it. Yeah. Yeah. Prime example of a blue ocean, red ocean strategy. So we arrived in podcasting and we were in a blue ocean, uncontested waters. Um almost everything we did was like a little bit of an innovation to some degree. And then when you find yourself in a blue ocean, what happens is other people park in the blue ocean. They all sail into the blue ocean. They start doing the same thing. It becomes a red ocean. And in a red ocean, everyone is competing on the same few variables. It's like a race to the bottom. The way out of it is you find a new blue ocean. So in this context, a similar thing would be you can get more complicated, which we've toyed with, which is the idea that you you make a documentary or a movie or something, not not a podcast conversation. Or you can get like almost like more simple. Instead of making 2-hour 3-hour conversations like everybody, you start making 30-minute videos that are more like more like structured more like a course. That's what I was going to say to you. So I I was always thinking what if we do like a really and I was thinking about testing this on the clip channel, like a really condensed version. Then my other thought went does that just hurt the long form anyway? because you wouldn't want to watch long form if you've got the really condensed. Again, this is an important point. Never think about the harm or the cannibalization of the old thing when you're pursuing the new thing. That's why people don't change cuz they think, "Oh, it will hurt my record store business if I start doing digital." So, they miss digital. The book I just mentioned is this book. And I need to talk to you about this book because if you're building a business or thinking about building something in a competitive market, then you need to read this book. And if you can't be bothered to read this book, let me give you a two-minute summary on exactly what this book taught me and how it changed how I build and launch businesses.
In that conversation with Jack, I mentioned something called Blue Ocean. And I learned this in a book called Blue Ocean Strategy, which I need to tell you about. In the book, they reveal that if you create what they call a blue ocean in your business or project or charity or whatever you're doing, you will enjoy 350% higher revenue growth and 240% higher profit margins than your red ocean competitors. Here's the difference. Red oceans are existing markets where companies compete head-to-head. Think about airlines competing solely on price or fast food chains all chasing the same lunch crowd. The water is red because companies in that red ocean are essentially fighting to the death over the same factors for the same limited group of customers. Blue oceans are untapped market spaces where competition is irrelevant because you've created something entirely new. So, if you're competing to the death with your competitors, here is how you escape a red ocean and move into a blue one. First, you need to use the ERRC framework, which stands for eliminate, reduce, raise, and create. List the factors your competitors compete on in your industry. And then ask yourself, what can we eliminate, reduce, raise, and create that your industry takes for granted or to add more value or to change costs or to be able to charge more? For example, Cirque du Soleil eliminated expensive animal acts and star performers. They reduced comedy and thrill. They raised artistic music and dance and created a theatrical story. And the result is they captured both circus goers and theater audiences while spending 60% less than traditional circuses. And now they generate billions and dominate the industry. Netflix were competing with Blockbuster. They won by eliminating late fees and store visits, reduced title-by-title rental hassle, raised convenience, and created a personalized recommendation engine. And the result, they have almost 300 million paying subscribers worldwide, and in 2024 generated 33 billion in annual revenue. And Blockbuster are dead. Uber, they eliminated phone call dispatch and cash payments. They reduced wait times and uncertainty. They raised real-time GPS tracking and driver rating transparency, creating a two-sided ride-sharing marketplace, and local taxi companies died in the red ocean. The next thing you need to do is target non-customers, not just existing ones. For example, Nintendo's Wii didn't try to outspec PlayStation or Xbox. Instead, they asked the critical question, who's not playing video games? And they targeted families, seniors, and casual players with motion controls. The Wii outsold both competitors combined, moving over 100 million devices. And here's the most important thing. The book found that first movers into Blue Ocean Markets maintain their advantage for 10 to 15 years on average because competitors struggle to copy what they don't understand. But this window doesn't stay open forever. I actually kind of think of Joe Rogan as occupying a blue ocean. And for 15 years, he's been number one because he moved into the market of long-form hosted podcast first. And all of us, well, we're playing catchup. Some of us are looking for the next blue ocean. So, start by mapping your industry's competing factors. What does everyone in your industry compete on? Then ask yourself, what if those factors didn't matter? Your blue ocean is waiting in the gap between what your industry thinks customers want and what they actually want. They are reminding to keep your seat belts fastened whenever you are seated and it must remain securely fastened whenever the seat belt signs are on. That's such a negative energy. See what I mean? Gather all the team members around. When someone says something can't be done, it's all about will. This one doesn't open. Well, we got one open.
Just landed back here into London. Two events today. One of them's across town. Going to be talking about content and personal branding. So, stay tuned for that. There's one particular piece of advice that I want to give all of you who are thinking about building your personal brand and making content. And then I'm going to go home and see my girlfriend who I've been thinking a lot about since the conversation with Michelle Obama. And I shall introduce you to my girlfriend. I'm 32. So I I was so gutted growing up that I wasn't part of the com boom. And then this AI thing came along and I was like, "What the is this?" It is the single most disruptive thing I have ever seen in my life. As we're moving more and more to an AI world, you should really be prioritizing platforms that give you depth because creating just an audience is really easy. Everybody, a kid in Bangladesh or a kid in Cape Town now, he set up an AI agent to just churn out cliche stuff onto his LinkedIn. But that human piece of bringing people in deeper is really, really going to count. That's why I have my behind the diary team who film me seven days a week and on my behind the diary channel, we're filming everything but in our company. That's why I do the podcast. It's depth. For us in the room, what would your best advice be for how we can stay on top of it, explore it, learn it, implement it, but without it teetering over into overwhelm? 95% of the people sat around you will not respond to this. So if you're in that 5%, this is a tea up to change your life. The truth as to whether it is a threat or responsibility is purely found in your reaction. Go on there, start clicking some buttons, start learning what an LLM is, start listening to a couple of podcasts on it. Should be exciting for everybody. Playing field has been leveled and it really comes down to you, your creativity, your ideas, your agency, your work ethic. What a time to be alive. Thank you. Thank you so much. Thank you so much. Thank you. Thank you. Thank you so much. Thank you so much. Good luck, mate. Thank you. Thank you for feedback on that. Do you understand what I'm saying?
100%. Yeah, that's weird. I think the issue is because Well, this is the one non-negotiable which Penguin like all our paperbacks have the little Penguin logo. Just say it. Steve's not going to release it. I It's dirt. It'll be the first book ever, which be I think
Let me give you some context quickly on the conversation you just saw. That was Rick, who's the head of Flight Books, which is our book publishing division here in our media company, Flight Stories. And at Flight Story, we publish lots of books. Paul Brunson's book. We publish Hardest Giza's book. You probably saw Cody Sanchez's new book. We've got about 20 or 30 other books in the pipeline. We also now publish in partnership with Penguin my own books. And Penguin want to do a softback black edition of my book. Now, let me talk to you about my opinion. And Penguin have just come back to me with this book. And I don't know if you can tell, but there's quite a lot wrong here. There's quite a lot of not nice things. The first is this sticker looks very, very cheap. The second is this over three lines doesn't look very symmetrical and generally it doesn't look as beautiful as the original which is the white book. So what I've said to the team is can you
Make this over two lines so it looks more symmetrical.
Can you kind of get rid of this and maybe put it at the top here so it looks a bit more neat? And can you get rid of this penguin logo on the front of the book? I've been told that there's no paperback book published by Penguin that doesn't have that little penguin on the front. I don't want that penguin on the front because it ruins the aesthetic of the book, and I care most about the customer. I don't care as much about Penguin's logo. I love Penguin. Great company, but they can go on the side or the back alongside Flight Books, which is our book publishing company.
Uhoh. What's he got on his back? Good to see you. How are you? Good to see you. Got um this is perfect. Is it a gold black? Oh, the paperback. Congratulations. Oh, wow. The hate back. I don't see it just in. Literally just in. I really like that. Like books on it as well. And we we we won the war of getting Penguin off the front. That was a paper wall. Isn't it crazy what happens if you just say, "Yeah, I don't want that there." And then they'd move it. No, but that's how it's always been done. Yes. But I don't want that. You just need a paper wall. A paper wall. Cut to paper wall.
The lesson I wanted to say here is there's so many times in business and in life where someone tells you something can't be done just because it's never been done before. And I'm sure that we can remove this little penguin, little birdie off the book. And you only really figure out that these things in life are what I call paper walls, fake walls, until you have the courage and the strength to push back on them. You realize that they were made out of paper the whole time. I think it's pretty much the first time ever they've taken the logo off.
Yeah. Just walking home. Um the part of my life that I don't show often is Steven Bart, the boyfriend. And um my girlfriend Melanie who is a breath work practitioner today had her first teacher training where she teaches other people to be breath work practitioners. So for the last six, seven days she's been in this camp training these new um breath work practitioners, these 10 women. And so this is a big milestone for her in her career. And so I want to celebrate it by the time she gets home, which means I'm going to go to the shop now, get some flowers. I think it's really really important that like I um I celebrate her for the incredible things that she's achieving in the same way that she celebrates me.
My girlfriend's just got back. I'm planning a surprise for her. Are you okay? Babe, I'm so tired. Hold this. One sec. Stay there. Hold this. Stay. Stay. Wait. Wait. Present. Congratulations. Thank you. Congratulations to remember your first teacher training. The first from many many. Oh. Oh, wow. This is me, babe. That is you. So, we've got Mel, me and Mel together, and then Steven the overinker. Well done. Brilliant work. Brilliant work. Yeah, it's stunning. Stunning. Stunning. Honestly. Wow. What a five days. What a beautiful five days. That's my dog. You going to be on behind the diary? No. You have no choice in the matter. Hello. That's me, Mel, and my lollipop.
What happened? I cut my finger. I was impatient in the kitchen. I was overthinking about many things and then I choked my finger. What do you think of Behind the Diary? I think it's great. And to do it on Sunday, it's like a a ritual. Sunday ritual. Yeah, it feels like the right day to watch a vlog, doesn't it? It's good. Yeah, it's helping us figure out the system of recording, shooting, all those kinds of things. So, and you can also know from the comments like what people like to see, you know. Yeah. I look at the comment section every week. It's the first thing I do when it goes live. I'm like spend two hours, me and Will, looking at the comments, screenshotting comments, putting them in our WhatsApp group, feedback. Some of you said that certain sections you couldn't hear well. So, we improve the audio. This is also why I hold this thing all the time now because it kills us. It absolutely kills us. Breaks our heart when the vlog goes out and there's a certain important section where we didn't have great audio. So, even me holding this was a something that people asked for. Enjoy the watch. Bye. We should definitely move on that. Lots of like images to