Sheryl Sandberg – Page 5

November 5, 2010December 9, 2011

Advertise On Facebook – Reach More People Than 10 Super Bowls!

Does this mean an ad will cost $40 million dollars per spot?

So, I was just on Facebook – along with 800+ million of my friends (soon to be be 7.3 billion) – and couldn’t help notice the sidebar banner ad pitch to “Advertise On Facebook” (see left).

Now, I’ve never noticed an ad on Facebook. Not one. And I don’t think I’m alone.

So why would I pay anything to advertise on Facebook? Because you can’t afford NOT to have your product or brand in front of 800 MILLION POTENTIAL CUSTOMERS. Right?

Because fear works when you’re pitching your platform to advertising agencies – “You need us more than we need you.” So it’s better to make an expensive ad buy on Facebook, even though no one will see your ad, than to be left behind.

Do they think we’re idiots? At least on television, even if the ad is being skipped in fast motion, you see the product. On Facebook, you don’t even notice the ad and, if you did, you wouldn’t care because you don’t want to see advertising when you’re on Facebook.

The only ad tactic that seems to work on Facebook is the one where hot young girls (old dudes pretending to be hot young girls) to “Friend” guys and then post non-stop about how they “LOVE THEIR NEW NISSAN SENTRA” and how much “The New Coke Zero ROX!”

Let I said before, Facebook, unless they start to charge user fees or do those horribly annoying ads that pop right in your face when you log in, is on the road to becoming worthless.

Jill Kennedy – OnMedea

November 3, 2010October 10, 2011

Y Combinator Is A Stupid Idea

I wanted to call this entry “Y Combinator Is A Bullshit Idea” but the ads on the side wouldn’t have displayed due to the “bullshit” in the title.

So, I just read the Christopher Steiner article “The Disruptor In The Valley” at Forbes.com (which is about Paul Graham and his company Y Combinator) and I immediately thought of the bit from “The Simpsons” (Season 12 – Episode 9) when Homer is undergoing medical experiments for money. He tries an appetite suppressant:

HOMER: “I’m BLIND!”
SCIENTIST #1: “Who’s gonna buy a pill that makes you blind?”
SCIENTIST #2: “We’ll let marketing worry about that!”

Y Combinator is basically offering Silicon Valley a pill that makes them blind (but marketing will fix it).

They offer a little bit cash to grab a whole lot of equity in these tiny start-ups – most which are not even close to being ready for that kind of exposure (or financial decision).

However, with the right spin, PR and influence behind them, they (apparently) ARE ready for the additional money that others might throw their way (for another giant chunk of equity)… IF they can manage to get through the grueling YC BOOTCAMP.

So many of these companies just aren’t ready and, frankly, just aren’t necessary.

It’s like the YouTube star who gets a small role on “The Big Bang Theory” and can barely speak because they’re so nervous and everyone realizes they have no acting skills whatsoever.

This is not to say that there aren’t a lot of geniuses out there with a lot of great ideas. There are. Most are much smarter than me (but not as smart as Khan Manka, Jr. – I’m under order to say).

But these geniuses (and mostly non-geniuses, let’s be serious) are being exploited by Paul Graham and company and tossed to these VC wolves who will eat many a carcass to get to the next Facebook (which MUST BE STOPPED… but I digress).

Seriously, in another Hollywood analogy, any start-up attempting to get their business going through Y Combinator is like the screenwriter in Los Angeles who will pay people to read their script because they “work at a studio.”

The chances of success in one of these cattle call models is virtually zero.

Zero for everyone except Paul Graham (and partners).

As a quick primer, allow me a paragraph (from Wikipedia) to explain Y Combinator to those who may not know what it is:

Y Combinator is an American seed-stage startup funding firm, started in 2005 by Paul Graham, Robert Morris, Trevor Blackwell, and Jessica Livingston. Y Combinator provides seed money, advice, and connections at 3-month programs. In exchange, they take an average of about 6% of the company’s equity.

Compared to other startup funds, Y Combinator provides very little money ($17,000 for startups with two founders and $20,000 for those of three or more). This reflects Graham’s theory that between free software, dynamic languages, the web, and Moore’s Law, the cost of founding a startup has greatly decreased.

In other words, throw a bunch of shit on the wall and see what sticks.

Great for Paul Graham (based on his idea, Y Combinator would have gotten $20,000 from Y Combinator), but terrible for almost all of those thousands who apply to his program every year just in the hope of getting the YC stamp of approval (and 60 lbs of chili).

So Y Combinator is a Venture Capitalist that funds your start-up so that your start-up can get funded by another Venture Capitalist.

Enough with these f-ing VCs, man.

Whatever happened to creating a company, becoming successful and growing it based on that initial success?

Success because you have a product that people really (REALLY) want.

Thousands of techies are just sitting around coffee shops and cafes in all the “Silicon Valleys of the world” trying to think up new ideas that Paul Graham (and others like him) might like.

Not because it’s an idea that the start-up founder actually believes in anymore – but because it’s one that might get funding.

I mean, fuck passion, right?

These days it’s not whether your company succeeds or fails, it’s whether it gets funded in the first place and a mention on TechCrunch.

Jill Kennedy – OnMedea

P.S. – Also Digg is dead – R.I.P. – so is Electus and Comic-Con… but I digress… again.

October 21, 2010April 3, 2011

Juan Williams Had TWO JOBS!

Remember, whichever side you are on in this debate, Juan Williams had TWO JOBS during the worst economy since the Great Depression when so many people out there can’t even get ONE JOB.

I think it was good of NPR to fire Juan Williams if only for the simple fact that they can now hire an out of work Political Commentator who can get off the public dole.

Interesting that Fox News would reward a guy with a $2 million dollar contract who basically said that Muslims who are dressed as their religion requires(!!) make him nervous on an airplane.

Juan Williams perfectly fits the mold of the “Fox News Liberal”.

Jill Kennedy – OnMedea

October 8, 2010April 11, 2011

Digg – R.I.P.

Lesson #1: If Google offers you $200 million for a business that has no real focus or vision – TAKE IT.

Lesson #2: If the due diligence doesn’t back up a $200 million valuation and someone else offers you $80 million – TAKE IT.

Lesson #3: If you ignore Lessons #1 and #2 and decide to redesign your very popular (but unprofitable) website – MAKE SURE IT DOESN’T SUCK.

Lesson #4: If the redesign of the website sucks and the entire world complains – DO SOMETHING ABOUT IT.

Lesson #5: If Lesson #4 is ignored and senior management continues to party like its 2006, YOUR COMPANY IS DYING.

Lesson #6: If your company is dying and you don’t have the cure, LET IT DIE WITH DIGNITY AND START OVER.

I’m afraid we’re at Lesson #6.

DIGG IS DEAD – R.I.P.

If only the Business Week cover from 2006 were true.

While many of the employees of Digg will find it difficult to start over, the founders and senior management team probably will not. Especially Kevin Rose, who is an early investor in Twitter and Zynga. So don’t cry for dude. Dude is fine.

Now I’ve Dugg many stories over the years – mostly an endless link-fest of Slide Shows and Superhero complaints – but it’s time to move on.

I suppose I’ll just have to “Like” instead of “Digg” (until Facebook becomes worthless – and they are on that path!). After that, I’ll probably have to “Shout Out” or “Yeah, Baby” or whatever other little button some company wants me to click whenever I like the new taste of Coke Zero.

“Digg” was cool and nobody can take 2006-2008 away from you guys. That was your time!

So long Kevin, Matt and Jay – who cares if you’re not Billionaires? Remember, Millionaires can still get chicks and buy drinks at any bar in the world.

Jill Kennedy – OnMedea

October 7, 2010April 11, 2011

Disney Junior – EUREKA!

So, it was announced today that Playhouse Disney will become Disney Junior. The folks at Disney Corporate must have put in quite a bit of overtime on that one.

It’s a stroke of brilliance really – just as I thought it was brilliant when Viacom changed Noggin to Nick Jr. last year!

Bravo to Disney’s Brand Consultants who, most likely, put in extremely long hours and probably weren’t cheap.

I can imagine conference calls, late night food deliveries and logo designs on several other names like Disney Tots, Disney Ragamuffins, ToddlerDisney, Disney 2-7 (or ‘The D27!’)… before finally reaching the stroke of genius that is Disney Junior.

And I’m sure it was a tense few days before Bob Iger finally signed off on it. During the presentation, he probably said things like “Disney Junior? Really? Isn’t Junior a term for boys? Nickelodeon did it? OK, go ahead.” And that was that. Disney Junior will launch in 2012!

Being a parent of a five year old, I am not cynical about children’s programming and appreciate the big media companies producing so much content that distracts my child long enough so I can take a five minute break to go to the bathroom (including my own parent company Manka Bros. and our Manka Kids brand – Manka Junior anyone?).

I just think with all the millions of dollars being thrown around at media companies on Brand Management, it’s nice to know that all anyone needs to do to brand something for toddlers it to put the word “Junior” behind it. Clorox Junior, Coke Junior (with 40% less sugar), 1976 Chateau Lafite Rothschild Junior (for French children)…

Maybe I’ll launch OnMedea Junior for toddlers who want to read scandalous corporate media stories about “Dora the Explorer”.

Jill Kennedy – OnMedea

September 15, 2010April 3, 2011

Facebook To Reach 7.3 Billion Users By 2015

OK, it’s September. The power players in the media world have completed their ‘summering’ and can now return to the passion of their lives – ridding the world of boredom and malaise by producing films, TV shows, games and websites. So… it’s great to be back.

The title of this blog is truly remarkable and, frankly, bullshit.

I received the chart to the left from a friend of mine at Facebook (which was pulled from a recent management presentation).

Takeaway: The number of Facebook users by 2015 will EXCEED THE EARTH’S POPULATION.

Sounds impossible I know. But I suppose nothing is impossible when it comes to Facebook. Because at Facebook it’s not “Impossible”, it’s “I’m Possible”.

A couple of months ago, I wrote a blog titled “Facebook Is Worthless”. I stand by the arguments in that blog (even though I received the wrath of many a Facebook insider who doesn’t want to see the value of their stock options go down) because, no matter what Facebook senior management tries to tell the press, no one seriously believes they are profitable. I believe the real numbers would freak too many people out who are praying for an IPO in the near future.

Just because everyone is on it doesn’t mean the future is bright. Just look at the AOL and Microsoft monopolies in the 1990s.

Jill Kennedy – OnMedea

July 13, 2010April 4, 2011

The Woman Of Sun Valley

Allen & Company retreat, Anne Mulcahy, Ari Emanuel, Barry Diller, Ben Silverman, Bill Bradley, Bob Iger, Bobby Kotick, Brian Grazer, Brian Roberts, Candice Bergen, Carol Bartz, Charlie Rose, Chase Carey, Chris Silbermann, Cory Booker, Diane Von Furstenberg, Don Graham, DumbDumb, Electus, Eric Eisner, Eric Schmidt, Erin Burnett, George Bodenheimer, Gina Bianchini, Gordon Crawford, Haim Saban, Hank Vigil, Harvey Weinstein, Herb Allen, Herb Allen Sun Valley Conference, Herbert Allen, Jean-Bernard Levy, Jeff Berg, Jeff Bewkes, Jeff Bezos, Jeff Weiner, Jeff Zucker, Jeffrey Immelt, Jerry Yang, Jim Berkus, Jim Gianopulos, Jim Robinson, John Donahue, Jon Miller, Jonathan Dolgen, Ken Auletta, Ken Chenault, Khan Manka, Lachlan Murdoch, Lady Gaga, Larry Page, Leslie Moonves, Lionel Barber, Lloyd Grohl, Manka Bros., Marc Andreessen, Marissa Mayer, Mark Pincus, Mark Zuckerberg, Martin Sorrell, Mathias Dopfner, Michael Ovitz, Mike Bloomberg, Niall FitzGerald, Owen Van Natta, Patt Morrison, Peter Chernin, Phillippe Dauman, Rachael Ray, Reid Hoffman, Richard Parsons, Ricky Van Veen, Rob Wiesenthal, Robbie Bach, Robert L. Johnson, Ron Meyer, Rupert Murdoch, Sergey Brin, Sheryl Sandberg, Steve Burke, Steve Jobs, Sun Valley Retreat, Sun Valley Retreat 2010, Terry Semel, Tim Armstrong, Tom Freston, Tom Friedman, Tom Glocer, Tom Rothman, Ursula Burns, Vivi Nevo, Warren Buffett, World's Largest Media Company

Being a member of the fringe press, I have no idea how many people attended the Herb Allen Sun Valley Retreat last week and I certainly don’t know a complete gender breakdown – but from everything I’ve seen in the press (including from the blogs written by my mogul boss, Khan Manka, Jr., from inside the event), there were very very very few women represented.

By my count, there were three (and two were from Xerox – Ursula Burns and Anne Mulcahy [retired]) and only one, Sheryl Sandberg got any sort of attention at all.

And, no, mogul wives don’t count.

[If Allen & Co. can please email me an invited guest list, I’ll be happy to post an update with other names.]

Yes, Facebook is the hot company of the moment with a giant spotlight on senior management, but (and we all know this is a Hollywood / New York / Silicon Valley problem and not a Herb Allen problem) this was a pretty pathetic effort no matter the situation.

This is not to slight the accomplishments of Sheryl Sandberg. I have a great admiration for her (even though I think she’s on a sinking ship).

“The Women In Technology” panel (moderated by Tom Brokaw) must have been fascinating. Perhaps it was set up as a way to inform the white male moguls that there are ‘Women in Technology’. Who knew?

Here’s hoping that next year I can report on “The WOMEN of Sun Valley”.

Jill Kennedy – OnMedea

July 1, 2010July 26, 2012

Facebook Is Worthless

MORE RECENT FACEBOOK POSTS:

Should We Believe Facebook’s Earnings?

Facebook and the Disappearing Valuation (A Fairy Tale)

Facebook Must Be Stopped

Advertise On Facebook – Reach More People Than 10 Super Bowls!

Facebook To Reach 7.3 Billion Users By 2015

————

Original Post (Facebook Is Worthless):

Salacious headline? Yes. True? Also yes.

This is not a slam against the EXTREME popularity and unprecedented GROWTH story that is Facebook. This is a reality check of an unsustainable business model.

Much like a homeowner who can no longer afford an overinflated house purchased during the height of the bubble and decides to walk away, Facebook (with claims that it will hit ONE BILLION users in the not too distant future) has given it all away for free for far to long to change.

But change it must or Facebook Is Worthless.

Imagine the cable networks at their inception (especially premium channels like HBO) giving the channel to anyone for free at the beginning and then trying to convince customers to pay down the line. It’s a daunting task. One that Hulu is going through now – but they made the hard decision, and even though traffic and video streams will certainly fall, it will soon be profitable because it wasn’t too late to right the ship.

Imagine Disney/Pixar putting out Toy Story 3 for free in theaters and trying to make up their costs by throwing up billboards along the walls. What kind of idiot would do that? It would never be considered.

People love (and some actually depend on) Facebook, but it is too late to right the ship – and not just because no one cares or pays any attention to the banner ads that are thrown up against everyone’s status updates. It’s because people are starting to get really bored with it.

There are some late adapters that are still in the ecstasy phase of seeing their old high school friends as they look today (Facebook has ruined surprise factor of high school reunions forever, but I digress), but for the most part – at least in my case – most of my Facebook friends have stopped participating. They will pop on once a day or so just to see if anyone has posted any new drunken pictures or family photos of the new baby, but that’s about it.

My Facebook experience now is basically the same five people posting the same boring crap.

The Bored Office Worker who posts about “needing coffee” – and “can’t wait for Happy Hour!”

The Super Mom who claims every morning – “Went to 8 museums adn made banana bread all before 10am! My kids are awesome and sooooo funny!”

The Quoter who searches quotation websites looking for some daily affirmation that will get about 15 “Likes” and a few “I’m going to use that!” replies.

The Reviewer who writes stuff like “Smoke Monster? Shit Monster if you ask me!”

The Pissed Off Traveler with daily pearls like “10 hours on the tarmac!” and “Yet another delay, thank you American Airlines!”

And that’s about it. Every day, the same five people and I have over 300 Facebook friends (even though I only see about three friends actually in person in any given month).

The valuation on Facebook is so high that no one could possibly acquire it now (not even my employer, the insanely deep-pocketed Manka Bros. Studios) especially considering there is really no monetary growth story.

As it becomes more of a digital dumping ground, costs continue to rise. It has peaked as a global fascination. Check the value of Bebo, Myspace, Friendster, etc. and you’ll see the future of Facebook. Even though Mark Zuckerberg claims he’s different than all the others.

So here’s what Facebook needs to do – start charging every current or new user $0.99/month. Just ninety-nine cents per user per month to use all the features they currently use. New services may make it possible to bump that up to a premium fee down the line.

Millions will leave and start some “Facebook Should Be Free” movement, but other millions (like my five daily posters who feel they need to be heard) will definitely pay. Because $0.99 is nothing. It’s the purchase price of a pig on Farmville. There will still be advertising and cross-promotional opportunities and corporate sponsorships, etc. – multi revenue streams.

But the free culture has to change or Facebook is Worthless.

Deep down, at least to me, this seems to be the reason the IPO hasn’t happened. Zuckerberg says he’s not interested and will delay the IPO as long as possible. Yeah, because it’s a $15 billion company (so they say) with costs that exceed revenue – and no signs of that ever changing.

I wouldn’t be interested in an IPO either.

Someone enlighten me and correct my ignorance.

Jill Kennedy – OnMedea

April 16, 2010October 10, 2017

Bob Iger Finishes Off The Weinstein Brothers

Alan Braverman, Andrew Mooney, Andy Bird, Anne Sweeney, Aylwin Lewis, Bob Iger, Bob Weinstein, Brent Woodford, Christine McCarthy, Fred Langhammer, George Bodenheimer, Harvey Weinstein, Jay Rasulo, Jayne Parker, John Bryson, John Chen, John Pepper, Jr., Judith Estrin, Kevin Mayer, Khan Manka, Lee Solomon, Manka Bros., Michael Eisner, Miramax, Monica Lozano, Orin Smith, Preston Padden, Rich Ross, Robert Matschullat, Ron Burkle, Ronald Iden, Sheryl Sandberg, Steve Jobs, Steve Wadsworth, Susan Arnold, The Weinstein Company, Thomas Staggs, Tina Brown, Walter Liss, World's Largest Media Company, Zenia Mucha

By selling Miramax back to the Weinstein Brothers (that would be Harvey and Bob) and (ahem) Lord Ron Burkle (he who has single-handedly created thousands of jobs in the prostitution and supermarket industries), Disney Chief Bob Iger has effectively given the coup de grace to Harvey and Bob thus ending their 30+ year run in show business.

But, you say, they’ll be running Miramax, picking up awesome Kevin Smith and Ben Affleck movies that the big studios don’t want to make?

Right?

They’re still in the business.

Sorry. Miramax will out of business in five years.

In 2013, a fire sale of the library will be hastily arranged by GoldmanSachsBankOfAmericaJPMorganCiti (a division of Lending Tree) and the price will be less that $200 million.

I suppose the deal allows the total prick and predator Harvey and his brother Bob the chance to die with dignity and go down in flames with the company they started (the name combines their parent’s first names “Miriam” and “Max”) – but I think a real friend (which obviously Bob Iger isn’t) would have said to stay far away from this horribly overpriced mess of fragmented film rights that have very little resale / remake value left in them.

I suppose that’s why Bob Iger is the current toast of the town and Harvey and Bob are just toast. (Texas Toast if you believe this blog.) Karma’s a bitch.

If the new post-Disney Miramax is run as efficiently as The Weinstein Company, Ron Burkle’s $3.5 billion net worth should be exhausted within 10 or 15 years (though I’m sure he’ll pull the plug once $1 billion is gone and save the rest to solve the growing hooker unemployment problem that has ravaged this country.

(At this point, Ron could probably just trade sex for food – which he probably could arrange to get from his former Ralph’s and Food4Less stores. I would hope he would offer food from Ralph’s so the poor girls don’t have to bag their own groceries at Food4Less).

But enough about Ron Burkle’s (alleged) shenanigans mentioned above, this is about Harvey and Bob – two guys who changed the film distribution industry by taking on the big guys with small movies (and many times winning). But the greedy, creepy bastards sold off the dream for $80 million to Disney and now, the even greedier bastards, want it back for $600 million.

The classic example of throwing good money (well, Ron Burkle’s money) after bad.

Jill Kennedy – OnMedea

May 12, 2009May 12, 2011

All The President’s Men – Washington Post Budget Meeting Scene

1000Memories, Accel Partners, Amish Jani, Andrew Hyde, Andrew Mason, Andy Sack, Ashton Kutcher, Aydin Senkut, Ben Silverman, Bin 38, Bob Davis, Bob Iger, Brad Feld, Brian Kempner, Chris Hughes, Christopher Steiner, Dan Nova, Daniel Gaisin, Danielle Hootnick, Dave McClure, David Brown, David Cohen, David Kirkpatrick, Demi Moore, Demo Day, Diego Gutierrez, Dustin Moskovitz, Edmond Yue, Eduardo Saverin, Emmett Shear, Eric Lefkofsky, Fergal Mullen, FirstMark Capital, Founders At Work, Francis Duong, Gaurav Tewari, Gerald Levin, Gerald Poch, Greg McAdoo, Greylock Partners, Harjeet Taggar, HBO, Highland Capital Partners, Irena Goldenberg, Jared Polis, Jeff Bewkes, Jeff Weiner, Jeff Zucker, Jessica Livingston, Jessica Mah, Jill Kennedy, Joanna Shields, John Hsin, John Palfrey, Jon Miller, Jr., Justin Kan, Justin.tv, Khan Manka, Larry Wilson, Laurence Albukerk, Lawrence Lenihan, Li Ka-shing, Loopt, Manish Patel, Manka Bros., Mark Cuban, Mark Zuckerberg, Matt Cohler, Matt Nichols, Michael Arrington, Michael Gaiss, MySpace, Nick Marsh, Nicolas Carlson, OnMedea, Owen Van Natta, Paul Buchheit, Paul Cianciolo, Paul Graham, Peter Bell, Peter Thiel, Reddit, Richard de Silva, Richard Heitzman, Rick Heitzmann, Robert Morris, Ron Conway, Rudy Adler, Rupert Murdoch, Sand Hill Road, Scott Shane, Scott Switzer, Sequoia Capital, Sergey Nazarov, Shabbir Dahod, Shawn Broderick, Sheryl Sandberg, Sterling Phillips, Sumner Redstone, Tapzilla, TechCrunch, TechStars, TextPayMe, Toy Story 3, Trevor Blackwell, Y Combinator, google, Eric Schmidt, Tina Brown, The Daily Beast, Barry Diller, Dan Lyons, Google Smear campaign, Burson-Marsteller, Chris Soghoian, Jim Goldman, John Mercurio,

Here is a companion to “All The Facebook’s Men” – the actual scene from the original screenplay of “All The President’s Men”

INT. WASHINGTON POST – CONFERENCE ROOM

NATIONAL EDITOR: –let me tell what happened when I was having lunch today at the Sans Souci–

ROSENFLED: –correction–when you were drinking your lunch at the bar of the Sans Souci–

NATIONAL EDITOR: –this White House guy, a good one, a pro, came up and asked what is this Watergate compulsion with you guys and I said, well, we think it’s important and he said, if it’s so goddamn important, who the hell are Woodward and Bernstein?

ROSENFELD: Ask him what he’s really saying– he means take the story away from Woodstein and give it to his people at the National Desk–

NATIONAL EDITOR: –well, I’ve got some pretty experienced fellas sitting around, wouldn’t you say so?

ROSENFELD: Absolutely. And that’s all they do, sit sit sit – every once in a while, they call up a Senator, some reporting–

NATIONAL EDITOR: –well, what if your boys get it wrong?

BRADLEE: (after a beat) Then it’s our asses, isn’t it?

SIMONS: (indicates the meeting is over) And we’ll all have to go to work for a living.

As the men rise and head for the door, the FOREIGN EDITOR moves toward BRADLEE and SIMONS who remain seated as before.

FOREIGN EDITOR: I don’t think either Metropolitan or National should cover the story.

Bradlee and Simons look at him.

FOREIGN EDITOR (CONT’D): I don’t think we should cover the story, period.

BRADLEE: Go on.

FOREIGN EDITOR: It’s not that we’re using unnamed sources that bothers me, or that everything we print the White House denies, or that almost no other papers are reprinting our stuff.

SIMONS: What then?

FOREIGN EDITOR: I don’t believe the goddamn story, Howard, it doesn’t make sense.

BRADLEE: It will, it just hasn’t bottomed out yet, give it time.

FOREIGN EDITOR: Ben, Jesus, there are over two thousand reporters in this town, are there five on Watergate? Where did we suddenly get all this wisdom?

Bradlee and Simons say nothing. They respect this guy.

FOREIGN EDITOR: Look – why would the Republicans do it? My God, McGovern is self-destructing before our eyes — just like Muskie did, Humphrey, the bunch of ’em. Why would the burglars have put the tape around the door instead of up and down unless they wanted to get caught? Why did they take a walkie-talkie and then turn it off, unless they wanted to get caught? Why would they use McCord–the only direct contact to the Republicans?

BRADLEE: You saying the Democrats bugged themselves?

FOREIGN EDITOR: The FBI thinks it’s possible–the Democrats need a campaign issue, corruption’s always a good one. Get off the story, Ben — or put some people on McGovern’s finances; fair is fair, even if our business.

He leaves.

Jill Kennedy – OnMedea