Oprah's interview with Meghan & Harry feels like a good time to point out how extraordinary Oprah is.

Short thread on the "Queen of All Media"๐Ÿ‘‡ Image
1) Oprah was born into poverty in rural Mississippi to a single teen mom. At 14, Oprah was molested & got pregnant. Her son was born prematurely & died as an infant.

Oprah re-enrolled in school set on forging a new life. "I'm gonna be famous," she told anyone who would listen.
2) Oprah rose through the ranks of radio & then TV. Her relatability was obvious. Here's a conversation between Oprah & her first producer:

Oprah: You know Iโ€™m black?

Producer: Yeah, I can see that.

Oprah: You know Iโ€™m overweight?

Producer: So are many Americans.
3) Her producer later told her: โ€œYou are Americaโ€”thatโ€™s the whole point.โ€

Oprah was made for TV and TV was made for Oprah.

Unlike film, TV as a medium dissolved the boundaries between home and entertainment. For an hour each day, Oprah Winfrey was *in* your living room.
4) The Oprah Winfrey Show was an immediate success. It shot to #1 and within a year, 50% of Chicago watched Oprah.

Over 25 seasons (4,561 episodes!), Oprah grew. Crucially, she seized control of her empire: in the 80s, she shrewdly negotiated ownership rights to her show. Image
5) Oprah's appeal can be traced to her first-ever monologue:

"There's been so much hoopla about this show that itโ€™s enough to give a girl hives. I mean Iโ€™ve got them right now under my armpitsโ€ฆtwo things have bugged me for years. The first, my thighs. The second, my love life."
6) That authenticity, empathy, & relatability made Oprah special. In many ways, she was the first influencer. People *trusted* her.

Two economists calculated that Oprahโ€™s endorsement of Obama netted him 1,015,559 votesโ€”enough to seize the Democratic nomination from Hillary.
7) Today, Oprah is a legend.

She was the richest Black woman of the 20th century.
She's ranked the greatest Black philanthropist in history.
She's been rated the most influential woman in the world.

And she's not done yet ๐Ÿคฉ Image
Sources include the Making Oprah podcast from WBEZ Chicago & the Acquired podcast episode about Oprahโ€”both fantastic & highly recommended ๐Ÿ™Œ

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More from @rex_woodbury

11 Mar
Business model innovation is the most interesting & important trend in consumer internet right now.

The last generation of internet giants made money with ads. The next generation will make money in more diversified & innovative ways.

๐Ÿ‘‡๐Ÿ‘‡๐Ÿ‘‡๐Ÿ‘‡๐Ÿ‘‡๐Ÿ‘‡๐Ÿ‘‡๐Ÿ‘‡
1) When the internet started out, people werenโ€™t yet comfortable transacting online; ads let internet sites remain free & accessible to anyone.

This coincided with a post-9/11 erosion of privacy. Weโ€™re seeing the effects today in the invasiveness of Google & Facebook ads.
2) Our renewed focus on privacy is in part fueling a backlash to ad-based models.

But even if consumers wanted ads, ad-based models are less & less attractive. The Google / Facebook duopoly gobbles up 77 cents of every $1 spent on digital advertising. Image
Read 9 tweets
9 Feb
Education is the sector that will change most fundamentally post-COVID.

Five trends I'm finding interesting are:

1๏ธโƒฃ Tutoring Marketplaces
2๏ธโƒฃ Edutainment
3๏ธโƒฃ Business-in-a-Box Platforms
4๏ธโƒฃ Reskilling Workers
5๏ธโƒฃ Unbundling College

๐Ÿ‘‡๐Ÿ‘‡๐Ÿ‘‡๐Ÿ‘‡๐Ÿ‘‡๐Ÿ‘‡๐Ÿ‘‡๐Ÿ‘‡๐Ÿ‘‡
1) Of the 5 most-valuable education startups in the world, 4 are tutoring businesses. All 4 are in China & India.

Only 2% of U.S. household income is spent on supplemental education vs. 40% in China.

COVID will drive a meaningful uptick in U.S. spend & P2P tutoring models.
2) The lines between education and entertainment will continue to blur.

This accelerated during the pandemic, with more kids watching YouTube & playing Roblox & Minecraft.

Established startups like @duolingo & newer startups like @playhellosaurus will continue this trend.
Read 7 tweets
12 Jan
When I worked at The Rise Fund, TPGโ€™s $4B impact investing platform, we developed a way to measure & track social impact.

Here's a short thread on how we did it

๐Ÿ‘‡๐Ÿ‘‡๐Ÿ‘‡๐Ÿ‘‡๐Ÿ‘‡๐Ÿ‘‡๐Ÿ‘‡๐Ÿ‘‡
1) We called our framework the Impact Multiple of Money (IMM)

You can think of the IMM like you think of the Multiple of Money for financial returns. Just as an investor may earn a 3x financial return on her investment (3x MoM), she may also earn a 3x impact return (3x IMM)
2) Here's an example:

Dodla Dairy is the 3rd-largest dairy producer in India

Working with Dodla, low-income farmers enter long-term contracts that offer reliable daily purchases of milk. This doubles annual income for Dodlaโ€™s 250,000 farmers.

Here's how the math might work:
Read 6 tweets

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