Michael Lewis

You built so many products.

You had products that millions of people use.

And I was like, I'm just masquerading here.

It ended up becoming huge.

Mm-hmm.

I don't know that I would describe our relationship as... You know it was.

Which is funny because you've become more the keeper of the analysis on Acquired, and I'm more the keeper of the story.

And let's get to the lessons.

What have you learned?

We started thinking about what have we learned from the companies we've covered that we've then applied to Acquired.

So the one I was going to start with is the NFL.

The product is scarce.

162 baseball games a year.

It's called America's pastime.

You pass a lot of time with it.

But with the NFL...

Because the product is scarce and then they have very smartly cultivated that and engineered it to be more scarce, more of an event-driven sport, that's made all the difference.

And, like, to me, what we do is insane for the podcasting industry.

Like, it's completely insane.

We release – for the last three years, we've released 12 episodes.