Recently in IAC Category

From where I sit at my breakfast nook in La Canada, California, 3,000 miles from IAC's headquarters in New York, Barry Diller seems to be getting tired of it all. 

Yesterday, when I listened to IAC's earnings call, I got the sense that Mr. Diller could care less about what he's doing these days.  His answers were short and he seemed generally distracted and uninterested. 

When IAC was formed a few years ago, it was all very exciting.  A promising collection of digital assets that would destroy old media.  Mr. Diller was on the cutting-edge of this brave new media world, leaving his dinosaur studio pals in the dust with their "movies" and "television shows".

But it hasn't quite worked out that way.

Mr. Diller has been a true visionary throughout his career and now it's sort of sad to see him relegated to Q&A about the slowing growth at Match.com; the boring future potential of local search; and Ben Silverman's new company. 

All this while old media is staging a huge comeback and grabbing all the headlines:  "'Avatar' breaks worldwide box office record."  "Super Bowl XLIV is the most-watched television event ever."  

All this makes me think:  Is Barry Diller tired of it?  Is this really the future he imagined in 1991 after driving across the country with his Apple Powerbook?  Dating websites and CollegeHumor?

Who knows?  Maybe he really enjoys talking business with Ricky Van Veen.

In my opinion, it's time for Mr. Diller to jump in the car with an Apple iPad and drive across the country again.

Jill Kennedy - OnMedea

Ben Silverman is making this way too easy. 

IAC has released the logo for Ben Silverman's world-changing, earth-shattering, ground-breaking new venture - Electus. 

In my opinion, it is the perfect logo for the company.  Everything you need to know about Electus and its future success is represented in the design of that logo.

Accompanying the logo (on the IAC website - Electus.com is... still to come) is a new description of the company.  (Could we be getting close to launch?):  "Led by founder Ben Silverman, Electus is a next generation studio enabling premium content creators to engage with advertising and technology partners at the inception of the creative process and partner on the finished product across a global and multi-platform distribution model. 

"Electus is defining an innovative advertising component, which will challenge the traditional entertainment silos, allowing content creators and branding partners to develop premium programs and reach audiences like never before.  The content will be distributed globally through the Electus international distribution arm as well as across a multitude of analog and digital platforms."

Because nothing says "Next Generation" like a logo with A HORSE AND BUGGY ON IT!

Jill Kennedy - OnMedea

P.S. - Ben Silverman is the upcoming keynote speaker at MIPTV this year.  Because he is busy changing the world, I have taken the liberty of penning his speech for him.

It recently came to my attention that Ben Silverman was asked to give a keynote address at this year's MIPTV Conference in Cannes, France on April 13, 2010.  Realizing that Ben is a very busy man (what with single-handedly changing the media landscape... again), I have taken the liberty of drafting his keynote address for him.

Based on everything I know about him through interviews and presentations, etc., I have attempted to write the speech in a style he would find the most comfortable.
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Ben Silverman - Founder and CEO of the new multimedia company Electus - a groundbreaking partnership with media mogul Barry Diller's leading interactive company IAC.

(As the lights dim, a low hum emits from somewhere, smoke machines fill the stage with a heavy mist.  A lightning bolt appears to strike the back of the stage followed by a thunderclap - leaving the silhouette of... A MAN.)

BOOMING VOICE OVER:  Since the dawn of time, only one man has had the balls to change the world.  To change the way we think, we feel, we speak.  To change the way we laugh, the way we cry.  The guts to change 10pm programming on broadcast networks.  His name... is Ben.

(A pin spotlight pulls out to reveal BEN SILVERMAN in all his glory - sunglasses, suit that he probably slept in with the tie loosened - unshaven.  He points to the sky as another lightning bolt shoots out of his finger.  "Rock You Like A Hurricane" by The Scorpions screams from the speakers as he floats magically toward the podium on a hydraulic saucer.)

All is silent (except, I imagine, for the thunderous applause from the lucky MIPTV crowd).

Ben Silverman:  Yeah... all right... good morning Cannes.  Hell of a town you got here.  I don't know what kind of poison you serve in your bars, but you fuckers got me drunk! 

(From the wings, Notional founder and CEO Ricky Van Veen is heard cackling.)

Ricky Van Veen:  You got that shit right!  Whooo!

Ben Silverman:  Before I get started, how about a shout out for my little pissant buddy over there, Notional Founder and CEO Ricky Van Veen!

(There is a smattering of applause and bunch of "who the fuck is that" looks throughout the crowd.)

Ben Silverman:  All right, all right... Let's get going.  It's really great to be here at the MIPTV conference.  What the hell does 'MIP' mean anyway?  Nobody seems to know. 

Ricky Van Veen:  Damn straight on that one, cat daddy!

Ben Silverman:  Can it, Ricky.

Ricky Van Veen:  I get it "Cannes"!  That's where we are!  Freakin' hilarious, boss.

Ben Silverman:  Shut the fuck up, Ricky. 

Ricky Van Veen:  Sorry, daddy-o.

Ben Silverman:  (holding up a cocktail) And I said more vodka than tomato juice, bitch.

Ricky Van Veen:  Sorry bout dat. 

(Ricky comes on stage and takes Ben's drink to freshen it up.)

Ben Silverman:  Anyway... Now we're cruising.  You guys (and ladies) are all International Television folk, right?  Excellent.  How's business?  It's great to see the Polish TV delegation out there. 

(There is applause from a delegation of Polish Television Executives.)

Ben Silverman:  The last I heard from you guys in Poland, you were dealing with the problems of screen doors on your submarines, right?  And I heard your library was closed because someone stole THE BOOK!  Am I right?  Anway, I see you guys have television now.  Welcome to the 20th century!  Next stop, the internet!

(A screen behind Ben descends from the ceiling revealing his PowerPoint presentation.  The light envelops him in a Christ-like glow.  The first slide is Ben Silverman's professional timeline.)

Ben Silverman:  After I created "The Office" in the UK and decided to bring it to America, I really needed a new challenge.  So I told NBC Universal Chairman Jeff Zucker I wanted to be the head of NBC.  He said I was overqualified for the job and would be better suited to be his boss... but I convinced him that I would prefer to run NBC for a while and see how that goes first. 

(Another slide - Images of Jay Leno, Conan O'Brien and Jeff Zucker.)

Ben Silverman:  When Jeff told me he wanted to move Jay Leno to 10pm and cancel all the dramas in that time slot, I said he was crazy.  "It will never work", I said.  I predicted at the time The Jay Leno Show would last approximately four months before the affiliates would complain about having a crappy lead-in.  But Jeff Zucker was insistent.  So he did it.  He moved Jay to 10pm... and I quit.

(Another slide - giant Electus logo... a smaller IAC logo barely noticeable.)

Ben Silverman:  Having conquered the broadcast network world, I decided the one space where every content producer was having trouble was the online world.  It was a challenge I couldn't refuse.  The person who figures out how to make money with content on the internet will be made King!  Everyone is losing shitloads of money right now.  "It's a space that can't be tamed, Ben."  "Please, Ben, don't try it."  Everyone was being a whiny little bitch to me, begging me not to go into New Media.  When Barry Diller pleaded with me to take $100 million and start Electus, I told him it wouldn't work.  "It's throwing good money down the toilet", I said.  But he insisted. 

(Another slide - Ben Silverman holding a mini-dv camcorder.)

Ben Silverman:  I just wanted to have a little mini-dv camcorder and some really good out of work writers looking for a break and I wanted to create a low-cost, high-quality content site.  It's the only model that works.  But Mr. Diller, being used to high-cost, low-quality content, insisted that I take the money.  So I did.  And, today, I'm happy to say, there is still some money left.

(Slight applause.)

Ben Silverman:  I will now take your questions.

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Note to Ben, just copy and paste the text into Word, print it out, and you have your speech.

You're welcome.

Jill Kennedy - OnMedea

Yes, this deal is as DumbDumb as you can get.

How to build a successful startup:  Step #1 - Use Barry Diller's money to fund a vanity production label with a friend from high school.

Yes, Jason Bateman and Will Arnett (in particular) are talented guys but anyone who thinks they will spend any real time on this venture is out of their minds.  Sure, we'll get the standard Will Ferrell-type Funny of Die videos of Bateman and Arnett walking around with a steady-cam eating Doritos and improvising about how easy this internet stuff is - but will anything of value come out of DumbDumb? 

Ben Silverman knows the answer to this and laughs at how DumbDumb some people must be.  I would imagine Barry Diller also knows the answer.  Unfortunately, he's the ultimate DumbDumb in this equation for funding Electus in the first place.

But for now... it's all just so exciting.  I know I'm just a cockeyed optimist, but I just can't wait for Ben to change the world again.  And I'm super glad that they took the time out of the arduous process of building the successful DumbDumb business model to appear in Las Vegas for the announcement (along with the awesomely hilarious Notional CEO Lord Ricky Van Veen).

I just hope it's not the same business model that Ben Silverman developed for Electus:  Spend $100 million on the development (but not the execution) of digital content and when that money is gone - launch another start-up with another sugar daddy.

Jill Kennedy - OnMedea

The revolution is over... and what a crappy revolution it was. 

Notional - the only company to ever come up with the idea for a dating show in a taxi; a competitive cooking show; a home makeover show; as well as several shitty internet game shows in development including "Ready, Set, Dance", "You vs. America" and "Chase the Money" - is dead.

Yes, I realize Notional hasn't got up on its feet yet - but, based on the announcement of the "slate" today, Notional IS creatively dead.  Physically, they're still on life support and won't be dead until 2010 (thus the tombstone - thanks, R).

Oh, well.  I guess we'll just have to wait and see what content visionary (and current Notional CEO) Ricky Van Veen will think up next.  Hopefully something that will have the same forward-thinking press release that mentions words like "revolutionary" and "ground-breaking." 

I must apologize to Barry Diller and all IAC shareholders for killing off his two latest content creation ventures before they really got started - (I killed Ben Silverman's cure for what has been a cancer of bad content and business models on the internet, Electus, a couple of weeks ago... also before the launch) - but it had to be done. 

Come on, Ricky, freakin' internet game shows?  Who gives a shit?  You were so clever until you started spending Barry Diller's money.  What does he get for making you rich?  You... trying to make him poor.

The only show you could produce that could possibly work is you and your new best friend Ben Silverman going out every night and partying your brains out then putting your escapades up on the internet for everyone to see.  You could actually erect the elusive paywall on that one.  Just imagine it... you, Ben and hot chicks in bars... X-rated. 

THAT is programming only you guys can do in just the right pathetic way.  And THAT is your only competitive advantage.

Jill Kennedy - OnMedea

I realize that Electus - the earth-shattering, ground-breaking, cutting-edge new business from Ben Silverman and Barry Diller's IAC/ InterActiveCorp hasn't launched, but I have recently climbed aboard Khan Manka, Jr.'s Time Machine and gone into the not-too-distant future to retrieve the press release announcing (sadly) the company's closure.  Sorry, Ben.

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From the Associated Press (July 2011):

Electus, the $100 million start-up from media wunderkind Ben Silverman has decided to close its doors effective immediately after only 18 months in business.  875 staffers (mostly low-level hot chicks in their 20s who ran errands and stuff) were expected to lose their jobs.  The highly-touted venture only managed to produce one original internet series - a show about bed-hopping young flight attendants based at O'Hare International Airport called "The Hub".

Electus, announced by Mr. Silverman with much fanfare in July 2009 (after a completely disastrous run as Co-Chairman of NBC Entertainment), was supposed to change the entertainment landscape with the unoriginal idea of marrying advertising, content and distribution in a new media world.

Mr. Silverman was unavailable for comment but released a statement through his representatives:  "I am proud of my accomplishments at Electus.  Even though $100 million doesn't go as far as it used to, I still changed the world!  No one has even come close to doing what I did because nobody had the balls.  What a ride!  Maybe people just aren't ready for forward-thinking."

Mr. Diller was available for comment and simply said about Silverman:  "Fuck that guy."

But don't worry about Ben.  He has landed on his feet and will continue his Quixotic quest to monetize online content from his penthouse suite at The Palms Hotel in Vegas.  Goldman Sachs
has committed $500 million to fund his new, as yet, unnamed venture.
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Oh, yeah, one other thing I learned from the future:  The Jay Leno Show was canceled in 2010 and called one of the greatest failures in the history of television.  Sorry, Ben.

Jill Kennedy - OnMedea

Seriously, Fortune?  Are you fucking kidding me?  What, will you sell 15 more magazines with him on the list?  Couldn't come up with that 40th name? 

What about Jeff Weiner - he's under 40 and was named CEO of LinkedIn.  That's a pretty big job and the site actually makes money and is relevant. 

Ben Silverman is irrelevant.  Everyone needs to please stop with the 'Ben Silverman is great' shit. 

If (and this is about the biggest fucking 'if' I've ever written) Barry Diller and Ben Silverman put together a company that changes the media landscape and makes the world a better place, put him on your list next year.  Oh, yeah, he won't be UNDER 40 next year.  Sorry, Ben.

Well, OnMedea is putting together our own list:  ONMEDEA'S TOP 40 FAILURES UNDER 40 and Ben Silverman is in the running for the top of that list. 

Check back here next week for all the exciting details.

Jill Kennedy - OnMedea

OK, Ben. 

It's been nearly three months since you announced you were leaving NBC to start a new company that will "capitalize on the ever-evolving world of multimedia production and distribution."   We're still waiting.

Who knows?  Maybe you actually did stay at NBC to help launch the new season (or whatever) like you claimed you were going to do. 

If you stayed, most likely you left the morning after The Jay Leno Show premiered so that you could tell people that it was a hit while you were there. 

[Note: Latest ratings for The Jay Leno Show (10/5/09): 2.9/5 - but, according to John Ferriter, it only needs a 1.5 to make NBC Universal $300 million!]

I know it must be difficult to be a cutting-edge wunderkind and I'm not trying to rush you - but it's time to announce your new venture. 

I'm sure Barry Diller can't wait to hear about it either.  He's got $100 million riding on your genius. 

Don't worry, Ben - Vegas will still be there after you launch your company.  And... don't forget... hot chicks dig launch parties. 

Jill Kennedy - OnMedea

OK, Ben. 

It's been nearly three months since you announced you were leaving NBC to start a new company that will "capitalize on the ever-evolving world of multimedia production and distribution."   We're still waiting.

Who knows?  Maybe you actually did stay at NBC to help launch the new season (or whatever) like you claimed you were going to do. 

If you stayed, most likely you left the morning after The Jay Leno Show premiered so that you could tell people that it was a hit while you were there. 

[Note: Latest ratings for The Jay Leno Show (10/20/09): 3.6/6 - but, according to John Ferriter, it only needs a 1.5 to make NBC Universal $300 million!]

I know it must be difficult to be a cutting-edge wunderkind and I'm not trying to rush you - but it's time to announce your new venture. 

I'm sure Barry Diller can't wait to hear about it either.  He's got $100 million riding on your genius. 

Don't worry, Ben - Vegas will still be there after you launch your company.  And... don't forget... hot chicks dig launch parties. 

Jill Kennedy - OnMedea

I was at a party once and (G. Gordon) Liddy put his hand over a candle, and he kept it there.  He kept it right in the flame until his flesh was burned.  Somebody said, "What's the trick?"  And Liddy said, "The trick is not minding."

Deep Throat - All The President's Men

I'm not suggesting by the title of this entry and the above quote that Ben Silverman is as nuts as G. Gordon Liddy.  Far from it.  I personally believe he is too big of a pussy to even come close to burning his hand in a flame.   But there is a certain recklessness (and his bizarre relishing in this recklessness) that makes the comparison apt.  It's almost like he wants you to call him a "hard-partying, womanizing, break the rules kind of guy."  That's his badge of honor.  And it works for most rock stars and even George Clooney - but not Ben.

I know for a fact that a few drugs and a good amount of booze has helped to shape some of the greatest content ever produced.  Can you imagine jazz evolving as it did without the use of drugs?  Can you imagine Hemingway or Faulkner or Fitzgerald writing sober?  Can you imagine the filmmaking of 1970s without any chemicals to get through the long nights?  Luckily we don't have to. 

There have been many successful executives in the past (and some currently) that have partied just as hard - but you don't hear much about their social lives because they do their jobs and hit their numbers.  When you fail, everyone starts looking very closely at how you spend your day.

Success would have saved Mr. Silverman and he would have been allowed to do whatever he wanted.  (And Jeff Zucker probably would have encouraged him to continue to do whatever it was he was doing.)  But he failed.

Ben Silverman was an absolute disaster at NBC.  Practically everything he touched turned to shit (the list of expensive flops is long and you most likely have read about them elsewhere) - and yet, here he is, partying his way to the top of another company. 

In my opinion, Barry Diller has done his shareholders a great disservice by letting this failure control a $100 million fund to bridge "the gap between traditional television and the internet".  

Sounds like an amazing idea, Barry!  Somebody has got to figure out that puzzle, I suppose.  And based on all the executive talent out there, you picked... Ben Silverman. 

But, stupid me, I keep forgetting, based on press releases, Ben Silverman is a great innovator and the absolute right man to bridge that 'gap' (right man, that is, if advertisers are ready to party like animals, miss meetings, sleep late and never see a project through to the end).

But let me give credit where credit is due.  Mr. Silverman is a guy who seamlessly integrated advertiser's products into storylines of reality and scripted shows such as The Restaurant and The Biggest Loser.  Wow, was that restaurant cooking with ACTUAL FOOD?  Was that biggest loser drinking a Gatorade?  I'm glad Mr. Silverman came up with the idea to let the biggest losers hydrate themselves.  That's a stroke of genius.  The contestants should be very glad he didn't cut the deal with Starbucks - the biggest losers would have then had to hydrate with Venti Lattes.)

Note to Ben:  Ed McMahon sat next to a dog eating Alpo on The Tonight Show and it sold a lot of Alpo.  Charlie McCarthy (Edgar Bergen's ventriloquist puppet) sold a ton of Ex-lax on the radio and he's a freakin' puppet that can't possibly know what it's like to be constipated!  Products sell because people want the products - not because a Ford Truck was seamlessly integrated into a webisode about a cop and a hooker. 

There have been great innovations in advertising (the banner ads to the left, sides and bottom of this blog for one) - but Ben Silverman hasn't come up with one (no matter how hard he tries to say that he has).  Mr. Silverman has obviously gotten very lucky in life and now has $100 million to play with, which will buy a lot of entertainment for himself and his daily girlfriends as he listens to pitches for web series about hot tits and Vegas fraternities.  I wish him all the best trying to sell those to Coke.

Here's a prediction that will beat any tweet that Ryan Seacrest will make today: 

The venture will fail - without fail.  Sorry, Barry.

Jill Kennedy - OnMedea