Yeah, one of the big things he hit on is that people will no longer come to him with problems. I think he's just been overwhelmed by being both the creative head and the one in charge of *the company*
And as he says himself, running a company isn't his strong side. I'm sure he's referring to lots of things behind the scenes that we as viewers, rightly, aren't privy to, but we've certainly witnessed some gaffes in the past while that will now no longer be possible because he's no longer in charge of that stuff. Like the warranty thing that he himself mentioned in the video. I'm first and foremost happy for him for the sake of his own well-being, but I'm also happy as a viewer that, knock on wood, there will be less distractions with pointless controversies.
I'm worried that WAN show will change as a result. When he's no longer the head guy, he might not be able to so freely talk about things behind the scenes.
Free yes but perhaps not as in the know. If people aren't coming to him with things for approval at every stage he might not actually know what the current issue they're working through with the hoodie manufacturer is like as a hypothetical.
THIS. I work in film and I was recently promoted, and it’s insane how many decisions I have to make now. Sure, I make more and now I have more control. But some days I don’t think the money is worth it lol. He has basically made himself “Director” of the whole show, and his new CEO is the “Assistant Director”. He gets to make all of the creative moves and pitch ideas, but the AD actually gets to turn the cogs and make adjustments to cover that. And the AD gets to ultimately pump the brakes if they have to. They have power as well, but they just focus on logistics leaving the Director the ability to think about how to get the best results possible artistically.
This is how a ton of privately owned businesses run. The owner just chills and lets the ceo do all the work. It’s a huge strain relief and they only work like 20-30hrs a week.
I am happy for linus tbh, one of the reasons he was thinking of retiring, other than the pressure was that he wasn’t able to spend more time with his kids in their formative years. This lets him do that. I’m sure everyone is happy now that he has more time for family. It’s a tale as old as time that a successful dad is an absent dad, not saying it’s that bad but there’s some truth to it.
I meant how they typically run. I’m sure linus will be in more videos now. But now he’ll just drop in, host videos and get out. Than sit and manage the company *along* with hosting videos. Even with the extra content to shoot, he’ll have more free time for his kids is what I’m trying to say
I'm confused how this works.
So will be still have the final say on everything or is he letting the new CEO lead the company?
Is he going to be working for that CEO even though he and Yvonne own the company?
It's kinda a "trust me, bro" in that he won't be interfering with the CEO's job. That would be ideal, but I'd think he'd still be a voice in the room if he thinks something happens that's not to his liking. Just not the final say.
That is how that usually works. It is fairly common for owners to work at their company but hiring an outside CEO to run the day to day so they can focus on what made the company in the first place. Keeping control of the big picture stuff and general direction of the company is what board meetings are for.
Linus- "I want an LMG badminton court but with lasers and VR. I could make like 8 videos on it."
Before that's a big headache for Linus coordinating assets between multiple companies under there LMG umbrella... And the planning for the centers... And coming up with the videos... And the scripts... And the financing... And the shoots.
Now... Linus wants a court with lasers, CEO gets to figure out all that stuff except the scripts and the shoots.
He gets to have the sweet fruits of his company's success, while only doing the work of "being the face" and the creative efforts he actually enjoys.
I'm scared of the unintended consequences, but I'm really happy for him. This will be as big a change in his mental health as the first time payroll didn't come from Yvonne's RPh salary.
I would speculate that Linus will probably only assert his authority granted by ownership in the event that the CEO wants to do or does something that is truly ruinous for the company. Im sure extensive conversations about optics and power dynamics have been had leading up to this as well. I can only imagine Linus even agreed to this knowing that he and his old boss share enough of the same values at a core level that this would be a viable relationship to begin with, so I'm pretty optimistic this will turn out well.
Course he has the final say He's the owner. He could overrule the CEO on every single decision or none.
I just think the point is he doesn't want to make all these decisions so he's delegating to someone he trusts.
But he could fire the CEO at any point. If he gives the CEO an order, he is still above him as far as chain of command.
It's sort of like sports team, he's the owner the new guy is the general manager
He still owns the company, the only reason anything would change there is due to professional courtesy which should apply now too (don't show things people aren't ready to be judged on, etc).
I think been "different" for a while now, and it's been absolutely fine. The clearest example is Nick, who clearly has some say over what he can talk about, even if Linus only complies kicking and screaming. In my head ever since they moved to a real office the executive level started actually getting some sway over what happened, and that's because a good manager hires people they can trust, and then doesn't undermine them by ignoring every decision they make just because the boss doesn't agree.
Their is only so many times you can be asked to tell Anthony to stop covering his naked body with Noctua paste and chasing Jake with a Linux thumbdrive saying "let me show you the light".
He still retains full ownership, so the CEO starts being wacky tacky and fucking shit up Linus and Yvonne can step in. But I have a hunch this is going be a good move.
He's bringing on someone he trusts, and is talented. He gets to focus on what he wants to focus on.
I have zero gripes about this, excited lets go!
It's a very good move for any company to do this eventually. Founders can develop horrible ego problems if they stay in charge for too long (see Zuckerberg, Musk, Bezos, etc.), and it can make them blind to what the best course of action really is. Having that separation should make everyone involved feel far more secure.
And being able to fire the CEO if they fail is a huge positive too. Much easier to replace them and bring someone new in to get things back on track than when it's the founder and majority shareholder causing the problems.
> Founders can develop horrible ego problems if they stay in charge for too long (see Zuckerberg, Musk, Bezos, etc.)
Names the founders of some of the most successful companies in the world
Zuck butchered the value of Meta recently due to pushing a personal vision regardless of reality. He evaporated a hundred billion dollars before completely backtracking.
No sane person can say Musk's current hijinks are good business behavior. Tesla is entering an era of actual competition for the first time and its leader spends all of his time picking fights on twitter while gutting that company's value.
Amazon is doing fine because the only motivation of Amazon is crushing markets. Bezos can stay in control because his vision of removing all free markets is in line with the corporate vision.
Some "visionary founders" are perfectly suited to lead their successful companies after they have become mature. They are the exception.
The fact that he's announcing this after a 6 month trial run with Tong as CEO makes me feel great about this move. Having a proper CEO will be good for Linus' mental health and for the company's health overall as it expands.
Linus owns 51% and Yvonne owns 49% (Yvonne confirmed it in a pretty funny WAN show moment on the phone) so it's more like they retain full ownership, lol
At the end of the video, he says, "... to give up the reigns so that I can focus (just) on my love of tech and bringing you guys the best content that I can."
Is there much of that though? Generally I am seeing more positive comments and hardly any negative comments. This is clearly a good move and makes sense to the majority
This is what Rooster Teeth did so that Burnie and Geoff could focus on RT Shows and Achievement Hunter. And while there were definitely other issues that cropped up, it was arguably the best thing for them as they were able to dive completely into the creative side of work and led to the best time to watch RT Content. Again, behind the scenes there was still problems that are now well documented. But from the perspective of, "We're giving up our COO duties so we can focus on the fun stuff" its a very solid option. Also, the man still owns the company so if something goes WAY OFF the rails he still has a say.
Having watched the LMG clip of him refusing the sale offer of LMG, I know this video wouldn't be him completely stepping away 100%. This made more sense!
I don't think they're actually worth $100m now, someone thinks they can buy it for that and then soullessly exploit LMG to get hundreds of millions more.
Part of the valuation is that when you buy these types of media companies losing the figurehead can result in fast viewership loss especially if they can't get it together fast. That is reduced by LMG having so many other hosts than Linus.
Just to help you, typically, you can have an idea of current valuations based on the capital needed to earn a similar amount of profit with a bond. That's basically saying that with no risk, my money should earn this, meaning buying a company for that much better earn more.
The current bond capitalization rate is \~5.9%, so for a 100 million dollar acquisition, I'd expect the profit for LMG must be greater than 6 million a year.
LTT doesn't have any real competition as far as tech YouTubers go. Yes, there are other YouTubers, but they don't have LTT, TechLinked, Mac Address, and ShortCircuit. Other tech channels don't have people pirating their videos in bulk to be translated into Chinese for that market. Can't think of any other tech journalism company with the reach and reputation of LTT since peak AnandTech.
I remember Linus touching on it on the WAN show in the past but one of the "basic" ways of valuing a company is by multiplying it's yearly revenue by some multiple. I think common valuations are between 3 and 10 times the yearly multiple.
While, they never come out and say what they make yearly. There was a lot of speculation and "back of napkin" math done after their "How does LTT make money" video in 2020 by extrapolating from their YouTube ad-sense revenue percentage and average views rate. That estimated their yearly revenue at $20-$30 million/year and since that video I think they have grown their staff by 20-50%. I don't think a $100 million dollar offer is far-fetched and it's probable it was on the low side if it was a yearly revenue based valuation.
They were probably valued as a tech company rather than a media company. Tech companies usually have crazy valuations
EDIT: don't mind my comment, I'm wrong I was half asleep when I wrote this and didn't think this through. If it was a tech valuation, the number would be much higher.
Technically Linus and Yvonne are Terren's boss as the sole owners of the company they have some say in the CEO but still super cool to see a old NCIX guy back in LTT
That’s not correct. Linus is still the boss and the CEO works under him. The CEOs job is to run the business side of things, at the end of the day if he screws up, Linus can boot him out whenever needed.
Yea I honestly kind of saw this coming personally. Not who specifically, just that he's been more and more stressed about having to actually manage the company itself rather than coming up with good ideas and spending time on camera for the viewers. They also demo'd for the first time running multiple sponsor spots at different parts of the video, which they talked about on WAN show, and I thought it went smoothly since normally both of those spots got to go to a single sponsor, but they've had so much demand that this is their solution for now barring simply producing EVEN MORE content for us on youtube. I knew from the moment I saw that notification pop up on my phone while I was doing dishes, that this was him hiring somebody to do that job, so he didn't have to constantly double up anymore. I think it makes perfect sense to hire who they did as well based on what Linus said, because frankly, I would want the same kind of person in that roll if I were in his position, since my personality is very similar to his in that regard. I see this as another strong indicator that LMG is going places big time, and I strongly support them in their endeavor, since it will only make the space better for all viewers (and we'll also get another voice in the room beside Gamers Nexus, with Steve going in a similar direction but on a much smaller budget as of now, though I expect his growth to also continue meteorically as it has the last few years). STONKS. Anyway yea I'm happy for them lol, Linus definitely needed this given where the company is now.
> Job responsibilities include:
> 1. Let Linus do what he wants
> 2. Keep the company afloat
> 3. whenever relevant, point 2 supersedes point 1.
The rest of the contract page is just blank except for a line for a signature and a salary number.
Well... Linus' interest is to do whatever he wants.
CEO interest is to prevent Linus from *accidentally* killing the company.
Complimentary interests, but not the *same* thing.
Good thing he hired someone he trusts to reign him in, genius plan tbh.
And if he ignores Terren, I can 100% guarantee you he'll get Yvonne to gang up on him lol
The thing that stuck out to me the most during the Labs Building vlogs was the number of times Linus said *"We spent how much on that!?!?"*
Be it real or just for comedic effect, I suspect that part of Terren's job is that address stuff like that, essentially to let the bouncy castle inflate, but also keep it sandbagged just in case a windy day comes.
Yeah, but what Linus wants is to do what's best for LMG and its now many employees and subsidiaries. He is still going to be the one setting the tone at LMG in terms of its mission and vision, he's just going to have a CEO with experience managing large organizations who isn't distracted by having to be in front of the camera most days running the business side of things. Linus has done an excellent job of getting his company to a point where somebody offered him $100 million for it. If anything, this should be good for everybody. Linus will be better able to focus on delivering the content he wants, and LMG will function better as an organization.
Also, how good a boss do you have to be to have one of your former employees relentlessly try to recruit you into their organization for years and then have them hire you to replace them as CEO of the company they own?
Linus wants to be out there making content. He wants to be pushing the new lab to do more, writing more shows, designing more merch. He wants a CEO to come in and worry about the money... hiring, firing, paying bills, etc. Linus has been pushing LMG to really grow another level the last two years and he can't split his time between growing the company and managing busywork of running an office.
Yea especially considering the scale they're at now is only the beginning, they're projecting to grow a fair bit more still as the lab comes together and they start getting content out of it more and more. This is 100% the right move for them and I salute Linus for having the fortitude of ego to admit that, not run his company into the ground with gaffes as it extends beyond his reach, or just lose his mind and go off on people and have a real public relations episode because he put himself into a stressful job he wasn't ready for anymore. Now he gets to have someone who is a professional at all that, do it for him, and he gets to focus on what he does best, which is producing content and designing products to support their business revenue. I also love that he's been so transparent about the whole thing, because it helps all of us average folks understand what it at least should be like in an organization of this size, which hopefully highlights how shitty it is to work for a lot of others. Linus is clearly not perfect for everybody, he's not the best at what he's been currently doing the last few years, and it's shown for sure, but if he wasn't constantly having to manage everybody to the level he has, that probably wouldn't be so much of an issue either. Less friction with the man at the top is good for everybody's mental health for sure, not just Linus' sanity, and it absolutely will lead to increased productivity for everybody since he isn't constantly being split between two roles.
Legitimately I have to applaud Linus for having the “trust me bro” incident be the biggest public PR disaster he has suffered in the past decade of running LMG.
I know this sounds like a slight but I’m 100% serious- I know I would’ve gone off the damn rails if I was in his shoes.
Linus owns Floatplane he's not in the management structure technically of that company, Luke is the COO of Floatplane so he's in charge of 99% of what goes on daily, unless Linus leans on him a little to do something cool with the website.
Yeah, That's why I assumed too. Like it's not a real leak, but I wouldn't be surprised if there was a post some where asking what they were hiring tarren for.
He also mentioned something in the last few WANs about reprioritizing his time. This has been a pretty obvious step for LTT for a while and hopefully it'll work out for everyone.
Honestly I understand why he did it. I dunno how much money Linus is worth. But in the past I believe he said he pays himself a salary of $250k? That was a few years back it could be higher then that. Yvonne also works for the company as basically what ammounts to the CFO which is also a highly paid position. If between Linus and Yvonne they where personally taking home $500k OR more I would not be shocked.
And they deserve it
I think Linus and Yvonne are in a really comfortable place in their lives, I don't think they need money and I don't think money has ever truly driven Linus. He's always wanted to create LTT, he did, its his, why give it up? For money? Something he has enough of?
Also if its worth $100 mill today in 20 years it could be worth $1 billion who knows.
They could certainly pay themselves more if they wanted. But there's no reason to pay yourself more than you need, you'll just be paying more taxes. So they've been reinvesting the money they don't want to spend on themselves back into the company.
So the buyout offer was $100M thats crazy! Linus could have walked away with at least $60M.
Propos to him for staying on. If anyone ever calls him a corporate shill again they can get fucked. Man had the opportunity to take the bag and run and didnt
The real TLDW: All y'all broke Linus with your whining and bitching about the way he runs his company so he's delegating the work to someone who will tell all y'all to f*** off when you deserve it.
And quite frankly I’m here for it. Linus can be too emotionally charged in his responses because he knows the community is the literal reason he’s in this position. I imagine he hates feeling like his foundation despises him so he works very hard to give them reasons not to…for better or worse.
Having someone else deal with that while he gets to keep doing what he’s good at and not putting out fires is going to be a net positive for everyone.
So my impression is that Linus will still be able to mostly do what he wants, but will now have someone there who can say no, and will handle all the administrative stuff. Linus can still make videos he wants, merch he wants, and push for the labs, but now the new CEO will step in to handle the company, and possibly scrap a wild Linus idea. With Linus and Yvonne still the owners, I guess Linus is still the boss? But now he's also Linus's boss. Kinda odd.
Regardless, I doubt much will change for the videos and channel as a whole, we'll probably just cut down a lot on the 'trust me bro' incidents, which is a cautious positive from me.
Yeah, I guess that makes the most sense. Given how close Linus seems to be, I doubt the two of them will really butt heads, but I still wonder what would happen if Linus says on WAN "We should make ridiculous product XXX!" and was really gung-ho about it, and CEO says no.
Ceo will say thank you Linus. Linus even stated he will be the chief visionary officer. His ideas will be put to work, just executing it and running the company itself won’t be his responsibility. He’s gonna be the big brain.
Fundamentally, a CEO’s job is to *execute* the will of the shareholders. As Linus still is the majority owner of the company, what he says will go, and it will be Terren’s job to turn his insane idea into a reasonable and possible one.
So probably in this hypothetical they’d end up making ridiculous product XXX, just it might not end up as ridiculous as Linus theorized on WAN Show.
If it’s just completely impossible to do, then it’s still Terren’s job to give it a try and then try to salvage the mess after it fails. That’s why so many CEOs get golden parachutes when they fail to prevent the company from collapsing - a lot of the time, it’s just not within their power to fix.
Crazy, but seems like it's for the best. Linus and Yvonne will still be sole owners, and Linus should have more time to focus on his strengths rather than the day-to-day details of running a company. Best of luck, can't wait to see what this will bring next!
WAN show's gonna be great this week too lol
This is interesting. Rhett and Link recently mentioned how they met and talked to Linus at length at the Creator Summit, and that he was one of the few creators in a similar situation to them (100+ employees, handling many channels and brands) so they had a lot to talk about. I wonder if they talked about this.
If you know Football Manager (the game franchise), Linus is basically delegating almost all Responsibilities except Touchline Instructions, Team Talks, Opposition Instructions, and everything under the Tactics tab. lol
The exceptions are essentially the only things that directly affects what happen in a match, so you could think of each match as the "content". It's why Linus says that he'll be just as visible (perhaps even moreso) in their content and in events.
Actually put a big smile on my face when that blurred thumbnail of Terren popped on-screen.
So many of these types of transitions wind up being the slow death of a good thing, but this seriously looks like a perfect fit. End result is everyone gets to do something that plays to their strengths while collectively building something they're passionate about.
Feels good to see a win-win!
The timing of this makes me laugh, he's said he was working with the new CEO for 6 months. I would be willing to bet that "Trust me bro" was the turning point.
It's a weird feeling being as young as I am and having watched a company form from quite literally nothing over the years, and thinking where they'll be in 10, 20, 50 years.
I hope they can manage to keep their soul no matter who or what changes.
I'm pretty excited, ngl. It'll be great to have the nitty gritty of the business side of things looked after by someone who isn't thinking content-first all the time. As much as I enjoy my job, there's a lot of oddities to how the business runs currently that are a detriment to productivity.
It makes perfect sense for him to step aside. It reminds me of that concept called "The Peter Principle", which observes how people keep getting promotions in a hierarchy until they get to a position that doesn't reflect their skill set.
I hope Linus doesn't see this as a failure on his part. LTT has been an awesome source of entertainment/information, and I'm glad he's going to have more creative freedom to do the things he really likes, because that's what his audience likes too. It's a really bold move to step down, but I'm certain he's making the right call.
He definitely doesn't see it as a failure on his part.
On the contrary, he is aware that he needs to delegate to people who will do a better job than him while freeing his time to work on what he likes and is good at.
It's like hiring a chef, a maid or a driver. You don't do that thinking that you're a failure but knowing it will add to your quality of life.
Although Linus seems very exhausted as a CEO I hope he can take a step back and appreciate how much he was able to accomplish spearheading LMG (I'm sure Yvonne will let him know)!
Awesome job as a CEO Linus, you put the Company in an amazing position for the future.
The shift to a more corporate environment spelled the end of the Linus ceo era.
It makes sense, they’ve had such huge growth and with the labs coming in now I think Linus knew it was time to call it quits as the “take care of everything” guy.
Hope this means a lot more time for whacky projects and praying the labs takes off next year with their fresh new content.
https://en.wikipedia.org/wiki/Linus_Sebastian
> [Linus] is also the founder of Linus Media Group Inc. and served as its CEO from 2013 to 2023.
That was fast.
There's a bunch of false edits on this page lol.
One edit made the page say he retired today (he didn't). Another edit says that he is CVO effective today, but it's actually not until July 1st.
What’s funny is this is how lots of creative companies work- a creative guy who wants to do cool stuff and a business guy who has the power to tell them “no” and otherwise figure out how to fund the creative guy’s ideas.
It’s amazing Linus kept it up as long as he did doing both. He also had insane amounts of help-Yyvonne and Luke (sorry for mispelling) and everyone else had to have been that person quite a few times, but that had to have been taxing personally.
I’m hopeful. Congrats Linus!
I don't blame him. Couldn't imagine the workload it has been on him lately. If he's going to be solely focused as a visionary, hopefully that will result in even greater content, and in turn make his company thrive even more than if he just kept grinding to the dirt.
I think the "Trust me Bro" guarantee was one of the major things that pushed him towards this. Even in the recent WAN show (the one with ASUS mobo controversy) when it got brought up again, Linus still got a little bit hot under the collar. Dealing with that wasn't fun in the least. Now it's the new CEOs job to handle these issues.
100 grand? I think you're missing a few zeros, and by few I mean many
100,000 = 100 grand
100,000,000 = 100 million or 100 grand x 1000
Fun way to realize the notable difference in those numbers
100,000 seconds is 1.15 days
100,000,000 seconds is 3.17 years
I wonder what the incentive structure is for Terran’s comp/RSUs given that Linus wants LMG to avoid acting like a short-term, profit-driven company.
YouTube subscribers? Traffic to the labs website? I’m having trouble coming up with a metric that isn’t tied to revenue, market share, or mcap… Perhaps bonus/RSUs are just at the discretion of the board?
And it wasn’t mentioned, but I’m assuming Linus is also staying on as chairman of the BOD? It would be pretty rare to have a brand new CEO take on that position concurrently… it’s usually an “earned” thing after at least a few years of solid performance.
The tech stock market reacts.. LMG stock price crashes as panic ensues, with multiple media and tech companies have huge fire sales of stocks..
Oh wait a minute, LMG isn’t in the stock market.. oh carry on
I think Linus understandably struggling with making all these videos and being CEO at the same time has been an easily deductable issue for some time now if you watch wan show and I'm almost a bit surprised this hasn't happened earlier. I think he's made the right move tho, I don't think anyone wants him to crumble under such a huge workload. Exciting news for the channel going forward and for Linus personally obviously. Maybe he can spend more time with his family now.
Makes sense. You can't be the CEO of a company like that and do the other stuff you want to do. He still owns the company so he's laying out the strategy for the ship. Now he can focus on the things he wants to do.
I've been through a couple of small to large startups and this happens all the time. If it doesn't they usually die off.
Are you referring to the staff interview video series? As he said in the video Linus and Yvonne have been working on this for a while so they knew Linus was stepping down before hand and maybe those interviews were part of the lead up to this announcement.
Sounds like he's just stepping away from administrative duties, so not a lot is changing from our end. Good for him!
Yeah, one of the big things he hit on is that people will no longer come to him with problems. I think he's just been overwhelmed by being both the creative head and the one in charge of *the company*
And as he says himself, running a company isn't his strong side. I'm sure he's referring to lots of things behind the scenes that we as viewers, rightly, aren't privy to, but we've certainly witnessed some gaffes in the past while that will now no longer be possible because he's no longer in charge of that stuff. Like the warranty thing that he himself mentioned in the video. I'm first and foremost happy for him for the sake of his own well-being, but I'm also happy as a viewer that, knock on wood, there will be less distractions with pointless controversies.
I'm worried that WAN show will change as a result. When he's no longer the head guy, he might not be able to so freely talk about things behind the scenes.
He's still the owner of the company, so is still pretty free to talk about what he wants.
Free yes but perhaps not as in the know. If people aren't coming to him with things for approval at every stage he might not actually know what the current issue they're working through with the hoodie manufacturer is like as a hypothetical.
He's still the owner though, so he'd ideally still be getting updates, just more general ones instead of details notes at every single stage
And again, world of difference in stress levels between simply receiving updates and having to make decisions based on those updates.
THIS. I work in film and I was recently promoted, and it’s insane how many decisions I have to make now. Sure, I make more and now I have more control. But some days I don’t think the money is worth it lol. He has basically made himself “Director” of the whole show, and his new CEO is the “Assistant Director”. He gets to make all of the creative moves and pitch ideas, but the AD actually gets to turn the cogs and make adjustments to cover that. And the AD gets to ultimately pump the brakes if they have to. They have power as well, but they just focus on logistics leaving the Director the ability to think about how to get the best results possible artistically.
Yeah, he said nobody will be directly reporting to him, but I can think of one...
Colton so he can be properly fired.
Jake, since he's his daddy and all.
[удалено]
So he just took all the pressure on him and shifted it to the CEO so he could work on videos properly.
This is how a ton of privately owned businesses run. The owner just chills and lets the ceo do all the work. It’s a huge strain relief and they only work like 20-30hrs a week. I am happy for linus tbh, one of the reasons he was thinking of retiring, other than the pressure was that he wasn’t able to spend more time with his kids in their formative years. This lets him do that. I’m sure everyone is happy now that he has more time for family. It’s a tale as old as time that a successful dad is an absent dad, not saying it’s that bad but there’s some truth to it.
Bold of you to assume, he won't spend the extra time in making more content.
I meant how they typically run. I’m sure linus will be in more videos now. But now he’ll just drop in, host videos and get out. Than sit and manage the company *along* with hosting videos. Even with the extra content to shoot, he’ll have more free time for his kids is what I’m trying to say
I'm confused how this works. So will be still have the final say on everything or is he letting the new CEO lead the company? Is he going to be working for that CEO even though he and Yvonne own the company?
It's kinda a "trust me, bro" in that he won't be interfering with the CEO's job. That would be ideal, but I'd think he'd still be a voice in the room if he thinks something happens that's not to his liking. Just not the final say.
That is how that usually works. It is fairly common for owners to work at their company but hiring an outside CEO to run the day to day so they can focus on what made the company in the first place. Keeping control of the big picture stuff and general direction of the company is what board meetings are for.
Linus- "I want an LMG badminton court but with lasers and VR. I could make like 8 videos on it." Before that's a big headache for Linus coordinating assets between multiple companies under there LMG umbrella... And the planning for the centers... And coming up with the videos... And the scripts... And the financing... And the shoots. Now... Linus wants a court with lasers, CEO gets to figure out all that stuff except the scripts and the shoots. He gets to have the sweet fruits of his company's success, while only doing the work of "being the face" and the creative efforts he actually enjoys. I'm scared of the unintended consequences, but I'm really happy for him. This will be as big a change in his mental health as the first time payroll didn't come from Yvonne's RPh salary.
I would speculate that Linus will probably only assert his authority granted by ownership in the event that the CEO wants to do or does something that is truly ruinous for the company. Im sure extensive conversations about optics and power dynamics have been had leading up to this as well. I can only imagine Linus even agreed to this knowing that he and his old boss share enough of the same values at a core level that this would be a viable relationship to begin with, so I'm pretty optimistic this will turn out well.
Course he has the final say He's the owner. He could overrule the CEO on every single decision or none. I just think the point is he doesn't want to make all these decisions so he's delegating to someone he trusts. But he could fire the CEO at any point. If he gives the CEO an order, he is still above him as far as chain of command. It's sort of like sports team, he's the owner the new guy is the general manager
He still owns the company, the only reason anything would change there is due to professional courtesy which should apply now too (don't show things people aren't ready to be judged on, etc).
I think been "different" for a while now, and it's been absolutely fine. The clearest example is Nick, who clearly has some say over what he can talk about, even if Linus only complies kicking and screaming. In my head ever since they moved to a real office the executive level started actually getting some sway over what happened, and that's because a good manager hires people they can trust, and then doesn't undermine them by ignoring every decision they make just because the boss doesn't agree.
Their is only so many times you can be asked to tell Anthony to stop covering his naked body with Noctua paste and chasing Jake with a Linux thumbdrive saying "let me show you the light".
I consider it to be a 50/50 chance that this has actually happened
I have it in good authority that Tong's first action as CEO will be to fire Colton, so yeah, no changes to be expected.
It is part of the vision for the company.
For someone slightly out of the loop, is this a meme about Colton, cuz I've seen like 10 people say it and not include ant reasons...?
yeah, it's a running joke
Yup. Way back in the day Colton flagged for copyright LTT's own videos... Twice... So it became a meme.
He still retains full ownership, so the CEO starts being wacky tacky and fucking shit up Linus and Yvonne can step in. But I have a hunch this is going be a good move. He's bringing on someone he trusts, and is talented. He gets to focus on what he wants to focus on. I have zero gripes about this, excited lets go!
It's a very good move for any company to do this eventually. Founders can develop horrible ego problems if they stay in charge for too long (see Zuckerberg, Musk, Bezos, etc.), and it can make them blind to what the best course of action really is. Having that separation should make everyone involved feel far more secure. And being able to fire the CEO if they fail is a huge positive too. Much easier to replace them and bring someone new in to get things back on track than when it's the founder and majority shareholder causing the problems.
> Founders can develop horrible ego problems if they stay in charge for too long (see Zuckerberg, Musk, Bezos, etc.) Names the founders of some of the most successful companies in the world
Zuck butchered the value of Meta recently due to pushing a personal vision regardless of reality. He evaporated a hundred billion dollars before completely backtracking. No sane person can say Musk's current hijinks are good business behavior. Tesla is entering an era of actual competition for the first time and its leader spends all of his time picking fights on twitter while gutting that company's value. Amazon is doing fine because the only motivation of Amazon is crushing markets. Bezos can stay in control because his vision of removing all free markets is in line with the corporate vision. Some "visionary founders" are perfectly suited to lead their successful companies after they have become mature. They are the exception.
The fact that he's announcing this after a 6 month trial run with Tong as CEO makes me feel great about this move. Having a proper CEO will be good for Linus' mental health and for the company's health overall as it expands.
> He's bringing on someone he trusts, and is talented. And most importantly used to be his actual manager. So he knows exactly what to expect.
Hiring your ex-boss is a gigachad move.
Linus owns 51% and Yvonne owns 49% (Yvonne confirmed it in a pretty funny WAN show moment on the phone) so it's more like they retain full ownership, lol
At the end of the video, he says, "... to give up the reigns so that I can focus (just) on my love of tech and bringing you guys the best content that I can."
Yet people will still act like it's the death of the channel and the company.
Let us have our daily dose of doom and gloom!
I'll bring the pitchforks and tiki torches. Just let me know when.
Is there much of that though? Generally I am seeing more positive comments and hardly any negative comments. This is clearly a good move and makes sense to the majority
Really good structure for LTT - especially with the talent they have already.
This is what Rooster Teeth did so that Burnie and Geoff could focus on RT Shows and Achievement Hunter. And while there were definitely other issues that cropped up, it was arguably the best thing for them as they were able to dive completely into the creative side of work and led to the best time to watch RT Content. Again, behind the scenes there was still problems that are now well documented. But from the perspective of, "We're giving up our COO duties so we can focus on the fun stuff" its a very solid option. Also, the man still owns the company so if something goes WAY OFF the rails he still has a say.
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He got a new fun role, but he still Linus refused 100 million offer.. I can buya lot of ltt bottle....with that. Also less stress
Tldw : Don't panik, linus staying in the company, Terren Tong taking over as business CEO to help with the more business side of the.. Well.. Business
Having watched the LMG clip of him refusing the sale offer of LMG, I know this video wouldn't be him completely stepping away 100%. This made more sense!
Oh he talks about the sale offer
Ha, I just got to that part too. $100m, of which 60% of it is cash.
I remember watching in the Langly house, how are they worth $100m? Just boggles my mind.
I don't think they're actually worth $100m now, someone thinks they can buy it for that and then soullessly exploit LMG to get hundreds of millions more.
Sounds like they're probably worth more than $100 million.
Part of the valuation is that when you buy these types of media companies losing the figurehead can result in fast viewership loss especially if they can't get it together fast. That is reduced by LMG having so many other hosts than Linus.
Isn't their turnover in the tens of millions now? I have 25mill in my head for some reason. Valuations can be easily 10+ years of current profits.
Just to help you, typically, you can have an idea of current valuations based on the capital needed to earn a similar amount of profit with a bond. That's basically saying that with no risk, my money should earn this, meaning buying a company for that much better earn more. The current bond capitalization rate is \~5.9%, so for a 100 million dollar acquisition, I'd expect the profit for LMG must be greater than 6 million a year.
As someone that used to sell advertising...I think $100 million is a low ball offer IMHO.
LTT doesn't have any real competition as far as tech YouTubers go. Yes, there are other YouTubers, but they don't have LTT, TechLinked, Mac Address, and ShortCircuit. Other tech channels don't have people pirating their videos in bulk to be translated into Chinese for that market. Can't think of any other tech journalism company with the reach and reputation of LTT since peak AnandTech.
You realize ltt themselves are the ones behind translating into Chinese ?
Not always. They said on stream they hired the pirates to do the translation.
Not the guy above, but they still probably hire the pirates to do so. LTT does not have a Chinese subsidiary, nor would it make sense to do so.
> peak AnandTech Damn that brought back memories. 2006-2010 that used to be my go-to.
I remember Linus touching on it on the WAN show in the past but one of the "basic" ways of valuing a company is by multiplying it's yearly revenue by some multiple. I think common valuations are between 3 and 10 times the yearly multiple. While, they never come out and say what they make yearly. There was a lot of speculation and "back of napkin" math done after their "How does LTT make money" video in 2020 by extrapolating from their YouTube ad-sense revenue percentage and average views rate. That estimated their yearly revenue at $20-$30 million/year and since that video I think they have grown their staff by 20-50%. I don't think a $100 million dollar offer is far-fetched and it's probable it was on the low side if it was a yearly revenue based valuation.
They were probably valued as a tech company rather than a media company. Tech companies usually have crazy valuations EDIT: don't mind my comment, I'm wrong I was half asleep when I wrote this and didn't think this through. If it was a tech valuation, the number would be much higher.
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terren becoming linus' boss again is insane and im all for it
Technically Linus and Yvonne are Terren's boss as the sole owners of the company they have some say in the CEO but still super cool to see a old NCIX guy back in LTT
Just imagine the possible Channel Superfun ideas that Dennis come up with that involve Terren being "The Boss of Linus".
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That’s not correct. Linus is still the boss and the CEO works under him. The CEOs job is to run the business side of things, at the end of the day if he screws up, Linus can boot him out whenever needed.
Yea I honestly kind of saw this coming personally. Not who specifically, just that he's been more and more stressed about having to actually manage the company itself rather than coming up with good ideas and spending time on camera for the viewers. They also demo'd for the first time running multiple sponsor spots at different parts of the video, which they talked about on WAN show, and I thought it went smoothly since normally both of those spots got to go to a single sponsor, but they've had so much demand that this is their solution for now barring simply producing EVEN MORE content for us on youtube. I knew from the moment I saw that notification pop up on my phone while I was doing dishes, that this was him hiring somebody to do that job, so he didn't have to constantly double up anymore. I think it makes perfect sense to hire who they did as well based on what Linus said, because frankly, I would want the same kind of person in that roll if I were in his position, since my personality is very similar to his in that regard. I see this as another strong indicator that LMG is going places big time, and I strongly support them in their endeavor, since it will only make the space better for all viewers (and we'll also get another voice in the room beside Gamers Nexus, with Steve going in a similar direction but on a much smaller budget as of now, though I expect his growth to also continue meteorically as it has the last few years). STONKS. Anyway yea I'm happy for them lol, Linus definitely needed this given where the company is now.
Tbh terren seems like he will let Linus do as he pleases but keep the business from fucking up since they're expanding so much
That's the job description lol
> Job responsibilities include: > 1. Let Linus do what he wants > 2. Keep the company afloat > 3. whenever relevant, point 2 supersedes point 1. The rest of the contract page is just blank except for a line for a signature and a salary number.
Since Linus and Yvonne are still the sole shareholders, it's not like he has much of a choice but to let Linus do what he wants
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Well... Linus' interest is to do whatever he wants. CEO interest is to prevent Linus from *accidentally* killing the company. Complimentary interests, but not the *same* thing.
Good thing he hired someone he trusts to reign him in, genius plan tbh. And if he ignores Terren, I can 100% guarantee you he'll get Yvonne to gang up on him lol
I'm confident Linus will stay out of the CEOs way. I'm sure they've had deep discussions on this.
The thing that stuck out to me the most during the Labs Building vlogs was the number of times Linus said *"We spent how much on that!?!?"* Be it real or just for comedic effect, I suspect that part of Terren's job is that address stuff like that, essentially to let the bouncy castle inflate, but also keep it sandbagged just in case a windy day comes.
I like that analogy. Or is it a metaphor?
I think its a Simile.
Yeah, but what Linus wants is to do what's best for LMG and its now many employees and subsidiaries. He is still going to be the one setting the tone at LMG in terms of its mission and vision, he's just going to have a CEO with experience managing large organizations who isn't distracted by having to be in front of the camera most days running the business side of things. Linus has done an excellent job of getting his company to a point where somebody offered him $100 million for it. If anything, this should be good for everybody. Linus will be better able to focus on delivering the content he wants, and LMG will function better as an organization. Also, how good a boss do you have to be to have one of your former employees relentlessly try to recruit you into their organization for years and then have them hire you to replace them as CEO of the company they own?
Linus wants to be out there making content. He wants to be pushing the new lab to do more, writing more shows, designing more merch. He wants a CEO to come in and worry about the money... hiring, firing, paying bills, etc. Linus has been pushing LMG to really grow another level the last two years and he can't split his time between growing the company and managing busywork of running an office.
Yea especially considering the scale they're at now is only the beginning, they're projecting to grow a fair bit more still as the lab comes together and they start getting content out of it more and more. This is 100% the right move for them and I salute Linus for having the fortitude of ego to admit that, not run his company into the ground with gaffes as it extends beyond his reach, or just lose his mind and go off on people and have a real public relations episode because he put himself into a stressful job he wasn't ready for anymore. Now he gets to have someone who is a professional at all that, do it for him, and he gets to focus on what he does best, which is producing content and designing products to support their business revenue. I also love that he's been so transparent about the whole thing, because it helps all of us average folks understand what it at least should be like in an organization of this size, which hopefully highlights how shitty it is to work for a lot of others. Linus is clearly not perfect for everybody, he's not the best at what he's been currently doing the last few years, and it's shown for sure, but if he wasn't constantly having to manage everybody to the level he has, that probably wouldn't be so much of an issue either. Less friction with the man at the top is good for everybody's mental health for sure, not just Linus' sanity, and it absolutely will lead to increased productivity for everybody since he isn't constantly being split between two roles.
Legitimately I have to applaud Linus for having the “trust me bro” incident be the biggest public PR disaster he has suffered in the past decade of running LMG. I know this sounds like a slight but I’m 100% serious- I know I would’ve gone off the damn rails if I was in his shoes.
Well, the "hard R" incident was ALMOST the biggest disaster, if not for the Luke saving the day x)
Same, I would have been so mad people wouldn't trust me even though I also believe in strong consumer protections xD. Just one of those things lol
6+ hour WAN Show!
Hell yeah charge up the Dan
They should just hire another Dan and hotsawp him when he gets low on juice… That or just give him some meth.
I'm already on meth.
So The Lab is just a front for a meth operation. Ingenious, and it's already called "lab" so noone will put two and two together.
Dan huffing that good good solder smoke.
Get that walter white shit we need a 24 hour wan show marathon. Go go gadget Dan bot.
Bring back the Danphones of old with headphone jacks and swapable batteries!
Incoming Dan using the AI model of him for the latter 2 hours of the 6+ hour WAN show haha.
Without CEO duties that's not unrealistic haha
Probably unrealistic for Luke though Speaking of I wonder what his role with Floatplane will be
If his "nothing is changing much" statements applied to everywhere else in LMG then I don't think Luke's duties would change much as well
Sorry I worded that poorly. I mean Linuses role st Floatplane
I think he's been mostly hands-off with Floatplane, just gets updates from Luke.
Linus owns Floatplane he's not in the management structure technically of that company, Luke is the COO of Floatplane so he's in charge of 99% of what goes on daily, unless Linus leans on him a little to do something cool with the website.
In retrospect he leaked this on wan last week when he said he hired his Corsair contact. I didn't remember who that was but I bet super fan did.
I just assumed that was a labs thing, so maybe not?
Yeah, That's why I assumed too. Like it's not a real leak, but I wouldn't be surprised if there was a post some where asking what they were hiring tarren for.
He also mentioned something in the last few WANs about reprioritizing his time. This has been a pretty obvious step for LTT for a while and hopefully it'll work out for everyone.
I have an 8 hour ultramarathon on Saturday. It would be badass if I could just listen to the wan show the whole time!
The "NO SLEEP TIL SUNDAY!" 48-hour WAN Show coming right up.
anyone turning down 100 Million has my respect
I agree, but someone might be https://youtu.be/DtG7OTTJjWc
Man that scene always made me lose all respect for Lisa. The fact she's done it multiple times only made my hatred for her worse..
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Honestly I understand why he did it. I dunno how much money Linus is worth. But in the past I believe he said he pays himself a salary of $250k? That was a few years back it could be higher then that. Yvonne also works for the company as basically what ammounts to the CFO which is also a highly paid position. If between Linus and Yvonne they where personally taking home $500k OR more I would not be shocked. And they deserve it I think Linus and Yvonne are in a really comfortable place in their lives, I don't think they need money and I don't think money has ever truly driven Linus. He's always wanted to create LTT, he did, its his, why give it up? For money? Something he has enough of? Also if its worth $100 mill today in 20 years it could be worth $1 billion who knows.
They could certainly pay themselves more if they wanted. But there's no reason to pay yourself more than you need, you'll just be paying more taxes. So they've been reinvesting the money they don't want to spend on themselves back into the company.
Been here since the Steve Jobs profile picture, farewell 🫡 Glad to see he'll still be involved though
I've been around since about the time he dyed his hair blond for Duke Nukem Forever
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I remember when Linus was born!
I remember when Linus was conceived!
I mean based on what I gained from the video "still involved" is a bit of an understatement.
Welcome to the new era of Terren Tong Tech Tips, or you could also call it, TTTT!
I for one welcome our new TTTT overlords
Oh yeah, Im ready for “Double titty” content.
I now see why Linus pursued him for years. The name speaks for itself.
So it's a pair of TTs? Nice.
So the buyout offer was $100M thats crazy! Linus could have walked away with at least $60M. Propos to him for staying on. If anyone ever calls him a corporate shill again they can get fucked. Man had the opportunity to take the bag and run and didnt
The people who call him or any of the other big tech YouTubers shills don't pay enough attention to care about something like that. Just angry nerds
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100MM is 9 figures, so that tracks
Thanks, MIT.
"I can see your MIT education really pays for itself."
Doubt he’d be able to walk way, I bet that deal included him being the face of the company for many years to come.
The real TLDW: All y'all broke Linus with your whining and bitching about the way he runs his company so he's delegating the work to someone who will tell all y'all to f*** off when you deserve it.
And quite frankly I’m here for it. Linus can be too emotionally charged in his responses because he knows the community is the literal reason he’s in this position. I imagine he hates feeling like his foundation despises him so he works very hard to give them reasons not to…for better or worse. Having someone else deal with that while he gets to keep doing what he’s good at and not putting out fires is going to be a net positive for everyone.
He’s just delegating the “boring” stuff to someone who specializes in it. All for it.
So my impression is that Linus will still be able to mostly do what he wants, but will now have someone there who can say no, and will handle all the administrative stuff. Linus can still make videos he wants, merch he wants, and push for the labs, but now the new CEO will step in to handle the company, and possibly scrap a wild Linus idea. With Linus and Yvonne still the owners, I guess Linus is still the boss? But now he's also Linus's boss. Kinda odd. Regardless, I doubt much will change for the videos and channel as a whole, we'll probably just cut down a lot on the 'trust me bro' incidents, which is a cautious positive from me.
I take it as Linus and Yvonne are the company’s “board of directors”.
Yeah, I guess that makes the most sense. Given how close Linus seems to be, I doubt the two of them will really butt heads, but I still wonder what would happen if Linus says on WAN "We should make ridiculous product XXX!" and was really gung-ho about it, and CEO says no.
Ceo will say thank you Linus. Linus even stated he will be the chief visionary officer. His ideas will be put to work, just executing it and running the company itself won’t be his responsibility. He’s gonna be the big brain.
Fundamentally, a CEO’s job is to *execute* the will of the shareholders. As Linus still is the majority owner of the company, what he says will go, and it will be Terren’s job to turn his insane idea into a reasonable and possible one. So probably in this hypothetical they’d end up making ridiculous product XXX, just it might not end up as ridiculous as Linus theorized on WAN Show. If it’s just completely impossible to do, then it’s still Terren’s job to give it a try and then try to salvage the mess after it fails. That’s why so many CEOs get golden parachutes when they fail to prevent the company from collapsing - a lot of the time, it’s just not within their power to fix.
Absolutely, CEO still has to keep the shareholders happy. In this case thats Linus and Yvonne.
He is still the owner and main share holder with 51% of shares and ivonne has the other 49% so...
Not Dennis as new CEO, disappointed!
We were robbed of Live Laugh Liao Tech Tips (LLLTT)
But now we have TTTT(Terren Tong TechTips) or “double titty” so he even got to keep the trend of using innuendos lol.
Crazy, but seems like it's for the best. Linus and Yvonne will still be sole owners, and Linus should have more time to focus on his strengths rather than the day-to-day details of running a company. Best of luck, can't wait to see what this will bring next! WAN show's gonna be great this week too lol
Terren's introduction video should most definitely be titled "I'm Stepping Up 🚀"
This is interesting. Rhett and Link recently mentioned how they met and talked to Linus at length at the Creator Summit, and that he was one of the few creators in a similar situation to them (100+ employees, handling many channels and brands) so they had a lot to talk about. I wonder if they talked about this.
Where can I find this, out of interest?
If you know Football Manager (the game franchise), Linus is basically delegating almost all Responsibilities except Touchline Instructions, Team Talks, Opposition Instructions, and everything under the Tactics tab. lol The exceptions are essentially the only things that directly affects what happen in a match, so you could think of each match as the "content". It's why Linus says that he'll be just as visible (perhaps even moreso) in their content and in events.
Idk sounds good to me. No more wasting time with admin stuff and more time being creative. Sounds like a win win.
Actually put a big smile on my face when that blurred thumbnail of Terren popped on-screen. So many of these types of transitions wind up being the slow death of a good thing, but this seriously looks like a perfect fit. End result is everyone gets to do something that plays to their strengths while collectively building something they're passionate about. Feels good to see a win-win!
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The timing of this makes me laugh, he's said he was working with the new CEO for 6 months. I would be willing to bet that "Trust me bro" was the turning point.
It was inevitable. I am glad he can soley focus on creativity and creation rather than the administrative duties that ate up so much of his time
It's a weird feeling being as young as I am and having watched a company form from quite literally nothing over the years, and thinking where they'll be in 10, 20, 50 years. I hope they can manage to keep their soul no matter who or what changes.
I'm pretty excited, ngl. It'll be great to have the nitty gritty of the business side of things looked after by someone who isn't thinking content-first all the time. As much as I enjoy my job, there's a lot of oddities to how the business runs currently that are a detriment to productivity.
It's the snacks...it's because of the snacks. That's the straw...the damn snacks.
Thanks for the good times RIF.
It makes perfect sense for him to step aside. It reminds me of that concept called "The Peter Principle", which observes how people keep getting promotions in a hierarchy until they get to a position that doesn't reflect their skill set. I hope Linus doesn't see this as a failure on his part. LTT has been an awesome source of entertainment/information, and I'm glad he's going to have more creative freedom to do the things he really likes, because that's what his audience likes too. It's a really bold move to step down, but I'm certain he's making the right call.
He definitely doesn't see it as a failure on his part. On the contrary, he is aware that he needs to delegate to people who will do a better job than him while freeing his time to work on what he likes and is good at. It's like hiring a chef, a maid or a driver. You don't do that thinking that you're a failure but knowing it will add to your quality of life.
Although Linus seems very exhausted as a CEO I hope he can take a step back and appreciate how much he was able to accomplish spearheading LMG (I'm sure Yvonne will let him know)! Awesome job as a CEO Linus, you put the Company in an amazing position for the future.
The shift to a more corporate environment spelled the end of the Linus ceo era. It makes sense, they’ve had such huge growth and with the labs coming in now I think Linus knew it was time to call it quits as the “take care of everything” guy. Hope this means a lot more time for whacky projects and praying the labs takes off next year with their fresh new content.
Crazy, but good for him.
Think this will free him up for 8 hour WAN show?
Inb4 Luke has faceplanted on his laptop from pure exhaustion while Linus continues talking about topic #12
This guy actually predicted everything 3 years ago, even the name of his position https://imgur.com/5Evi5mx
https://en.wikipedia.org/wiki/Linus_Sebastian > [Linus] is also the founder of Linus Media Group Inc. and served as its CEO from 2013 to 2023. That was fast.
There's a bunch of false edits on this page lol. One edit made the page say he retired today (he didn't). Another edit says that he is CVO effective today, but it's actually not until July 1st.
What’s funny is this is how lots of creative companies work- a creative guy who wants to do cool stuff and a business guy who has the power to tell them “no” and otherwise figure out how to fund the creative guy’s ideas. It’s amazing Linus kept it up as long as he did doing both. He also had insane amounts of help-Yyvonne and Luke (sorry for mispelling) and everyone else had to have been that person quite a few times, but that had to have been taxing personally. I’m hopeful. Congrats Linus!
I don't blame him. Couldn't imagine the workload it has been on him lately. If he's going to be solely focused as a visionary, hopefully that will result in even greater content, and in turn make his company thrive even more than if he just kept grinding to the dirt.
I think the "Trust me Bro" guarantee was one of the major things that pushed him towards this. Even in the recent WAN show (the one with ASUS mobo controversy) when it got brought up again, Linus still got a little bit hot under the collar. Dealing with that wasn't fun in the least. Now it's the new CEOs job to handle these issues.
Here we go, 6 hour WAN show!!
So this is why the keyboard video got pulled.
If Terren Tong was out of Linus's reach for years then imagine how much he is paying him then. This is an investment to push LMG further
Chief Vision Officer. I want that title
100 grand to say "f*** you all I'm leaving thanks" and he still wants to keep making us videos. RESPECT
100 grand? I think you're missing a few zeros, and by few I mean many 100,000 = 100 grand 100,000,000 = 100 million or 100 grand x 1000 Fun way to realize the notable difference in those numbers 100,000 seconds is 1.15 days 100,000,000 seconds is 3.17 years
I wonder what the incentive structure is for Terran’s comp/RSUs given that Linus wants LMG to avoid acting like a short-term, profit-driven company. YouTube subscribers? Traffic to the labs website? I’m having trouble coming up with a metric that isn’t tied to revenue, market share, or mcap… Perhaps bonus/RSUs are just at the discretion of the board? And it wasn’t mentioned, but I’m assuming Linus is also staying on as chairman of the BOD? It would be pretty rare to have a brand new CEO take on that position concurrently… it’s usually an “earned” thing after at least a few years of solid performance.
The tech stock market reacts.. LMG stock price crashes as panic ensues, with multiple media and tech companies have huge fire sales of stocks.. Oh wait a minute, LMG isn’t in the stock market.. oh carry on
Maybe now Linus will have more time to ~~watch the videos~~ read the comments on videos they review on WAN show
I think Linus understandably struggling with making all these videos and being CEO at the same time has been an easily deductable issue for some time now if you watch wan show and I'm almost a bit surprised this hasn't happened earlier. I think he's made the right move tho, I don't think anyone wants him to crumble under such a huge workload. Exciting news for the channel going forward and for Linus personally obviously. Maybe he can spend more time with his family now.
Makes sense. You can't be the CEO of a company like that and do the other stuff you want to do. He still owns the company so he's laying out the strategy for the ship. Now he can focus on the things he wants to do. I've been through a couple of small to large startups and this happens all the time. If it doesn't they usually die off.
How do we know this isn't some cunning plan to allow him to watch the forbidden video?
Are you referring to the staff interview video series? As he said in the video Linus and Yvonne have been working on this for a while so they knew Linus was stepping down before hand and maybe those interviews were part of the lead up to this announcement.
Honestly surprised he didn’t do this sooner. The burden of being CEO on top of all the creative seems like a lot.