The Big Con Podcast

Lego, the toy company that had recently bounced back from near bankruptcy, had set its sights on innovation. Their target: massively multiplayer online (MMO) video games. Despite their previous failures in the video game industry, Lego was determined to make a digital version of their iconic bricks a reality. They wanted to capture the audience who preferred virtual building, and they knew they had to act fast before someone else did. After reaching out to 51 different video game design companies, they settled on NetDevil to help bring Lego Universe to life. But as preproduction began, things got off to a rocky start...

Sources used in this episode

• Robertson, D.C. and Breen, B. (2014) Brick by brick: How lego rewrote the rules of innovation and conquered the Global Toy Industry. New York: Crown Business.
• Lego Universe Death of a Video game https://www.youtube.com/watch?v=cvBa6Dcws-4
• PC, Gaming WIKI (LEGO Universe) https://www.pcgamingwiki.com/wiki/Lego_Universe

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The Big Con Podcast: Emily and Dale dive into the wild world of business blunders and figure out where things went wrong (or right, but mostly wrong) and use the benefit of hindsight and a healthy dose of schadenfreude to look at where there was an impact on either their profit, their brand, or something much more dire. The Big Con examines the stories of businesses that refused to invest in strategy and where we can learn from their mistakes.

It's hard to imagine a world without Lego - the colourful, interlocking bricks that have captured the hearts and imaginations of children and adults alike for generations. But did you know this beloved toy almost didn't exist as we know it today?
In the latest episode of the Big Con Podcast, we explore the drama-ridden story of how Lego went from a family-owned Billund toy company to a global powerhouse - and almost lost it all in the process. A tale filled with restructures, lay-offs, and blue-sky thinking, this cautionary tale is a must-listen for anyone interested in innovation, growth, and the importance of measuring and managing success.
Facing numerous challenges and setbacks over the years, including the threat of being sold off and becoming a completely different company, Lego almost lost sight of its core values and the things that make Lego, Lego!
So if you've ever wondered about the history of the brick and how a company with humble beginnings became a $6.1 billion entity, this is the episode for you. Join us as we dive deep into the fascinating world of Lego, and discover the secrets to their enduring success.

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The Big Con Podcast: Emily and Dale dive into the wild world of business blunders and figure out where things went wrong (or right, but mostly wrong) and use the benefit of hindsight and a healthy dose of schadenfreude to look at where there was an impact on either their profit, their brand, or something much more dire. The Big Con examines the stories of businesses that refused to invest in strategy and where we can learn from their mistakes.

Remember when Ebay owned Skype? We do!
In this riveting podcast episode, we delve into the world of mergers and acquisitions (M&As) and uncover a shocking truth: many deals end up worse for the outcome. Emily and Dale will provide a compelling case study of eBay's acquisition of Skype, a $2.6 billion deal that, on the surface, was a big old failure, but the truth is much more interesting. Like Romeo and Juliet, eBay and Skype came from different worlds. eBay was a platform connecting independent buyers and sellers primarily through auctions. Skype was a Voice Over Internet Protocol Service launched in 2003 that gained market share rapidly and generated revenue through subscriptions and credit services. Although they were star-crossed lovers initially, eBay's acquisition of Skype proved to be their undoing, with the companies wanting different things and growing in different directions. Tune in to this episode to learn how to avoid the tragic fate of Romeo and Juliet and find successful matches in the world of M&As.

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The Big Con Podcast: Emily and Dale dive into the wild world of business blunders and figure out where things went wrong (or right, but mostly wrong) and use the benefit of hindsight and a healthy dose of schadenfreude to look at where there was an impact on either their profit, their brand, or something much more dire. The Big Con examines the stories of businesses that refused to invest in strategy and where we can learn from their mistakes.

This episode looks at Quibi, the "quick bites" mobile-only streaming service that no one had ever heard of, except for maybe the 175 celebrities who starred in its content. A Star-studded lineup of original content? Check. Big-name investors? Check. A marketing strategy that perhaps didn't make sense? You betcha! Quibi's business model was like trying to sell ice to Eskimos... on Mars. Our listeners will learn many lessons from this episode. Lessons that could have been learned by Quibi should they have done broader user testing before launching. In a crowded market, find out the about the many errors made by Quibi, leading it to be shut down quicker than you can say "quick bites.

📕Show Menu - https://bit.ly/bcpshowmenu

The Big Con Podcast: Emily and Dale dive into the wild world of business blunders and figure out where things went wrong (or right, but mostly wrong) and use the benefit of hindsight and a healthy dose of schadenfreude to look at where there was an impact on either their profit, their brand, or something much more dire. The Big Con examines the stories of businesses that refused to invest in strategy and where we can learn from their mistakes.

The Quibi Superbowl Commerical: Quibi - Bank Heist - Super Bowl 2020 Commercial - YouTubehttps://www.youtube.com › watch

References used in this episode

• https://www.vulture.com/2020/07/is-anyone-watching-quibi.
• htmlhttps://variety.com/2020/digital/news/quibi-officially-shuts-down-1234842926/https://deadline.com/2021/06/roku-originals-quibi-streaming-one-billion-1234777771/
• https://www.failory.com/cemetery/quibi
• https://variety.com/2020/digital/news/quibi-apple-tv-amazon-fire-tv-google-tv-1234811798/
• https://www.theverge.com/2020/10/22/21528404/quibi-shut-down-cost-subscribers-content-tv-movies-katzenberg-whitman-tiktok-netflix
• https://variety.com/2020/digital/news/quibi-liontree-sale-assets-1234814424/
• https://www.theverge.com/2020/3/11/21173981/quibi-eko-lawsuit-turnstyle-technology-jeffrey-katzenberg-streaming-interactive
• https://www.theguardian.com/tv-and-radio/2020/jun/28/quibi-netflix-jeffrey-katzenberg-cras
• hhttps://www.vanityfair.com/hollywood/2019/06/quibi-jeffrey-katzenberg-streaming-platform-interview
• https://www.businessinsider.com/how-quibi-went-from-raising-1-billion-to-shutting-down-2020-10#that-month-newtv-revealed-it-had-secured-1-billion-in-funding-from-big-names-including-walt-disney-warner-media-and-alibaba-group-at-this-point-no-content-had-been-announced-2
• https://www.screenhub.com.au/news/news/quibi-disaster-how-to-lose-175b-on-something-you-dont-understand-261407-1428790/
• https://variety.com/2019/digital/news/quibi-100-million-ads-jeffrey-katzenberg-meg-whitman-cannes-1203247177/
• https://www.dailymotion.com/video/x7rdpighttps://populartimelines.com/timeline/Quibi
• https://www.lamag.com/culturefiles/quibi-whitman-katzenberg/
• https://www.cnbc.com/2020/10/22/quibi-co-founders-katzenberg-whitman-explain-what-went-wrong.html
• https://www.gizmodo.com.au/2020/10/the-australian-governments-future-fund-invested-50-million-into-failed-quibi/

We discuss the rise of Multi-Level Marketing (MLM) companies, specifically focusing on the wellness industry and essential oils. The essential oils industry is currently valued at US$ 19.7 billion as of 2021, making it a popular target for MLM companies. We explore the recruitment process of MLM companies and how they encourage flexible working, word-of-mouth sales, and passionate employees but also lead to manipulation and misinformation. Our case study for this episode is the company Young Living and its founder, Gary Young. We delve into the questionable background of Gary Young, including his unaccredited degree in Naturopathy and past controversies. We also look at the recruitment process of Young Living, which had approximately 530,000 active members in 2014, with only 1,000 employees on a salary. The active members are considered distributors, which reduces the company's liability. In the show notes, we provide additional research and information about Gary Young and the controversies surrounding him, as well as a deeper dive into the recruitment process of MLM companies.

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The Big Con Podcast: Emily and Dale dive into the wild world of business blunders and figure out where things went wrong (or right, but mostly wrong) and use the benefit of hindsight and a healthy dose of schadenfreude to look at where there was an impact on either their profit, their brand, or something much more dire. The Big Con examines the stories of businesses that refused to invest in strategy and where we can learn from their mistakes.

Resources used in this show

• https://www.abc.net.au/everyday/mlms-are-not-the-answer-if-you-need-money/100006992
• https://www.sbs.com.au/news/the-feed/article/multi-level-marketing-or-pyramid-scheme-consumer-advocates-call-for-tighter-rules/goocaodx9
• https://www.newyorker.com/magazine/2017/10/09/how-essential-oils-became-the-cure-for-our-age-of-anxietyhttps://consumer.ftc.gov/articles/multi-level-marketing-businesses-pyramid-schemes
• https://www.forbes.com/advisor/investing/multi-level-marketing-mlm/
• https://www.classaction.org/blog/no-medicinal-benefit-young-living-hit-with-class-action-challenging-essential-oil-health-benefit-claims
• https://www.netflix.com/watch/81076172?trackId=255824129
• https://podcasts.apple.com/au/podcast/essential-oil-palooza/id1500761911?i=1000490712173
• https://podcasts.apple.com/au/podcast/d-gary-young/id1437413223?i=1000475648316
• https://podcasts.apple.com/au/podcast/an-essential-oils-investigation/id1413374332?i=1000486466107

We discuss the story of Jarnah and her candle company, Dreamer Candle Co. Jarnah, a student and entrepreneur, started making and selling high-quality, affordable candles online during lockdown and turned to TikTok to reach customers. The platform's algorithm can push a video to go viral overnight with just a few likes, leading to rapid growth for businesses. However, the unpredictable nature of TikTok's algorithm can also be a drawback, as it can suddenly stop promoting a company's content, leading to a drop in sales. Jarnah was able to succeed on TikTok by creating relatable content for small business owners, such as "a day in the life" videos and tips for finding success. She also included a series of TikToks poking fun at influencers and their sometimes-silly requests. Despite the risks of using TikTok for business, Jarnah's strategies paid off and she was able to grow her company quickly through the platform.

📕Show Menu - https://bit.ly/bcpshowmenu

The Big Con Podcast: Emily and Dale dive into the wild world of business blunders and figure out where things went wrong (or right, but mostly wrong) and use the benefit of hindsight and a healthy dose of schadenfreude to look at where there was an impact on either their profit, their brand, or something much more dire. The Big Con examines the stories of businesses that refused to invest in strategy and where we can learn from their mistakes.

Resources used in this episode:

• https://podcasts.apple.com/au/podcast/the-smart-passive-income-online-business-and/id383084001?i=1000567354639
• https://podcasts.apple.com/au/podcast/recode-daily/id1479107698?i=1000532385426https://www.tiktok.com/@jarnahmcmillan/video/7076359327086365954?_r=1&_t=8UC6ntyo6UL&is_from_webapp=v1&item_id=7076359327086365954
• https://www.tiktok.com/@sundayviolet.au
• https://www.productreview.com.au/listings/dreamer-candle-co

Get ready for a wild ride through the late 2000s a time of the Global Financial Crisis, Bitcoins, and the Marvel Cinematic Universe (aka the good old days) And what better way to kick off this time machine than with the story of the Ed Hardy Fashion brand, one of the few brands of clothing to be banned in certain establishments and the ultimate symbol of …well we all know. But before you go reaching for your Ed Hardy trucker hat and rhinestone-encrusted Tiger t-shirt, hold on a minute! There's more to the story than just tacky clothing and desperate attention-seeking. We'll dive into the fascinating (and slightly terrifying) partnership between tattoo artist Don Ed Hardy and infamous "King of Jeans" Christian Audiger, and how it went from the highest of highs to the lowest of lows.

📕Show Menu - https://bit.ly/bcpshowmenu

The Big Con Podcast: Emily and Dale dive into the wild world of business blunders and figure out where things went wrong (or right, but mostly wrong) and use the benefit of hindsight and a healthy dose of schadenfreude to look at where there was an impact on either their profit, their brand, or something much more dire. The Big Con examines the stories of businesses that refused to invest in strategy and where we can learn from their mistakes.

Resources used in this show:

• Ed Hardy - Ragtrader
• Ed Hardy Licensor Files Suit Against Christian Audigier
• Audigier sued over trademarked clothing line
• Ed Hardy clothing goes into administration
• UPDATE 2-Iconix buys global rights, ups stake in Ed Hardy brand Ed Hardy | The official website of the Ed Hardy brand.
• Don Ed Hardy - Wikipedia The Rise And Fall Of Ed Hardy: The Divorced Dad Clothing Brand Of The Early '00s
• OBITUARY: Christian Audigier, Founder of Ed Hardy, 57
• Ed Hardy: Jon Gosselin 'tanked' my clothing brand
• Jon Gosselin's Endorsement Killed Ed Hardy Brand, Says Ed Hardy!

Welcome to The Big Con, the podcast where we dive into the wild world of business blunders and figure out where things went wrong (or right, but let's be real, mostly wrong) and use the benefit of hindsight and a healthy dose of schadenfreude to look at where there was an impact on either their profit, their brand, or something much more dire. Hosted by Emily Kay, a Harvard Extension Student and founder of the Big Consulting Agency, Dale, a business nerd with an obsession for many things, the Big Con examines the stories of businesses that refused to invest in strategy and where we can learn from their mistakes.