Quibi’s epic fall and the future of books | The Vergecast

Introduction and vacation update (0s)

• The speaker is on vacation and will be for a second week.
• The speaker is trying out new formats and structures for the podcast.
• The speaker is asking for feedback on the new formats and structures.

Version History: Qubi (1m39s)

• The text discusses the launch and subsequent failure of the streaming service Quibby.
• Quibby was founded by Jeffrey Katzenberg, a powerful figure in Hollywood, who sought to create a unique streaming service to compete with established players like Netflix.
• Katzenberg raised over $1.75 billion in funding and assembled a team of Hollywood talent, including Meg Whitman as CEO.
• Quibby's key technological innovation was its "Turn Style" feature, which allowed users to watch content in either portrait or landscape mode depending on how they held their phone.
• The service launched in April 2020, just as the COVID-19 pandemic began, which significantly impacted its potential for success.
• Despite the high-profile team and significant investment, Quibby ultimately failed to gain traction and shut down in December 2020.

The impact of COVID-19 on Quibi (13m43s)

• Quibi was a short-form mobile video streaming service that launched in April 2020. The service was designed for on-the-go viewing, with episodes lasting under 10 minutes.
• The COVID-19 pandemic had a significant negative impact on Quibi's success. The service was intended for commuters and people with busy schedules, but lockdowns and stay-at-home orders meant that people were spending more time at home and less time commuting.
• Quibi's business model was also flawed. The service charged a monthly subscription fee, but it was competing with free services like YouTube and TikTok, which offered a vast library of short-form content. Quibi also paid its creators significantly more than other platforms, which made it difficult to turn a profit.
• Quibi shut down in October 2020, after only six months of operation. The company's founder, Jeffrey Katzenberg, blamed the pandemic for the service's failure.
• Despite its short lifespan, Quibi's failure was a valuable lesson in the changing landscape of entertainment. The service was ahead of its time in recognizing the growing popularity of short-form mobile video, but it failed to adapt to the changing consumer landscape and the rise of free, user-generated content.

Rebooting Quibi in 2024 (34m18s)

• The discussion revolves around the possibility of reviving Quibi, a short-form mobile video platform that failed in 2020.
• The participants acknowledge that the current landscape, dominated by platforms like TikTok and YouTube, makes it difficult to justify the creation of a paid, app-based service for short-form content.
• The idea of a high-end vertical streaming service is explored, but the participants ultimately conclude that it is unlikely to succeed due to the lack of a clear path to profitability and the inherent challenges of bridging the gap between personal, vertical content and the established Hollywood model of horizontal video.
• The discussion highlights the difficulty of attracting investment for vertical content, as the existing free platforms like YouTube and TikTok offer a vast library of content without requiring payment.
• The participants also discuss the potential for vertical video to become more mainstream, citing the growing trend of fashion brands using iPhones for their ad campaigns.
• The conversation concludes with the assertion that Netflix is unlikely to produce a vertical movie due to the lack of a suitable distribution platform and the potential for audience resistance to watching vertical content on traditional TVs.

Quibi in the Version History Hall of Fame? (37m27s)

• The discussion revolves around whether Quibi, a short-form mobile video platform, deserves a place in a "Version History Hall of Fame."
• The speakers agree that Quibi was interesting due to its dramatic failure and the media coverage surrounding it, but they question whether it was truly important or good enough to be considered Hall of Fame worthy.
• The speakers discuss the criteria for inclusion in the Hall of Fame, suggesting that a product should be either very good, very important, or very interesting, ideally possessing at least two of these qualities.
• They ultimately decide that Quibi, while interesting, was not important or good enough to warrant a place in the Hall of Fame.
• The speakers also mention other products that might be considered for the Hall of Fame, such as the Juicero, a failed juicing machine, and the Theos, a failed social media platform.
• The speakers acknowledge that the Hall of Fame is still under development and that they are still figuring out the criteria for inclusion.

Verge Debate: ebooks vs. printed books (39m49s)

• The Vergecast hosts a debate about ebooks versus printed books, with Alex Cray arguing for ebooks and Kevin Nuen advocating for printed books.
• Cray highlights the advantages of ebooks, including portability, accessibility, and the ability to update content. He also emphasizes the flexibility of ebooks, allowing readers to adjust font size and style.
• Nuen argues that printed books are a near-perfect technology, emphasizing their durability, affordability, and accessibility without requiring technology. He also suggests that reading printed books promotes focus and deliberation, contrasting it with the distractions of digital devices.
• Both hosts acknowledge the role of Amazon in the ebook market, with Cray noting its dominance and Nuen expressing concerns about its impact on the publishing ecosystem.
• Cray argues that ebooks are becoming more popular, citing the rise of companies like Kobo and Libby, which offer alternative ebook platforms.
• Nuen believes that the publishing industry needs to better understand the interests of younger readers to address the perceived decline in book reading among younger generations.
• Cray and Nuen discuss the cost of ebooks, with Cray acknowledging that authors' earnings can vary depending on their publishers and the type of book. Nuen points out that ebook royalties are often higher for authors than print book royalties.
• Nuen emphasizes the importance of the physical experience of reading a printed book, including the act of writing in the margins, which he believes enhances comprehension and memory.
• Cray counters that the ability to write in the margins is a feature of ebooks as well, but he suggests that readers should use notebooks instead.
• In their closing statements, Cray reiterates the advantages of ebooks, highlighting their portability and accessibility. Nuen expresses concern about the potential for ebooks to dominate the publishing industry, advocating for the continued importance of printed books and independent bookstores.

Vergecast Hotline: Modern MP3 Players (1h4m10s)

• A listener calls into the Vergecast hotline asking for a modern MP3 player that does not use Bluetooth or Wi-Fi.
• The listener is looking for a device that can be loaded with music via an SD card or USB connection.
• The Vergecast producers find a Sony Walkman MP3 player that meets the listener's requirements.
• The Sony Walkman NW-E394 is a dedicated MP3 player with 8GB of storage, a headphone jack, and an FM radio.
• The device is available for purchase on Amazon and Sony's website for $80.
• The producers also mention the Mighty Player as an alternative option for those who can use Bluetooth.
• The producers are surprised that Sony is still making a dedicated MP3 player, especially at such a low price point.
• The producers speculate that the Sony Walkman NW-E394 is likely targeted towards children or people who need a simple, offline music player.