Overview
Ben Gilbert and David Rosenthal elevate their podcast to a theatrical spectacle at Radio City Music Hall, hosting three captains of American industry to dissect the operational histories of JPMorgan Chase, The New York Times, and IAC. The event is structured in three acts: Jamie Dimon recounts his resurrection from a humiliating firing to building the world's most systemically important bank through extreme risk discipline and a 'fortress balance sheet.' Meredith Kopit Levien outlines the Times' successful digital transformation by redefining the paper as an 'essential subscription' for the whole life, not just news. Finally, Barry Diller offers a career retrospective from the mailroom to mogul status, culminating in a stark diagnosis that traditional media has lost the war against tech giants like Netflix. The conversations weave together themes of resilience, the necessity of evolving business models, and the paramount importance of long-term strategic vision over short-term incentives.
Sections
Chronicle of Events
Key historical milestones discussed by the guests.
- Jamie Dimon is fired from Citigroup by Sandy Weill.
- Dimon becomes CEO of Bank One and invests $60M (half his net worth) in the stock.
- JPMorgan Chase merges with Bank One.
- JPMorgan acquires Bear Stearns at the behest of the Fed.
- JPMorgan acquires Washington Mutual (WaMu).
- Barry Diller acquires QVC, recognizing the convergence of screens and commerce.
- New York Times Innovation Report launches the digital transformation strategy.
High Impact Moments
Moments of vulnerability, tension, or deep realization.
- Jamie Dimon telling his young daughters he was fired, and his youngest asking if they would have to sleep on the street.
- Barry Diller realizing he had to leave Fox to prove he could be independent, grappling with the loss of status symbols like the corporate jet.
- Ben and David stepping onto the Radio City stage, realizing the magnitude of selling out the venue for a podcast.
Levity & Wit
Notable humorous interactions during the show.
- After Dimon tells his daughters he was fired and doesn't need his work phone anymore, his oldest daughter asks, 'Great. Since you don't need it, can I have your cell phone?'
- Jamie Dimon accidentally spoiling the surprise guest appearance of Howard Schultz by shouting out the answer to a trivia question.
- Barry Diller complaining that Meredith Kopit Levien got a pillow for her chair and he didn't.
- Meredith Kopit Levien struggling to solve a custom Wordle live on stage despite owning the game.