Michael Girdley on Incubating Media Businesses

Michael Girdley, CEO of an 11-business holding company and Sean Linehan, CEO at Exec and Squad join Erik Torenberg to talk about the unique approach to incubating businesses, the importance of leveraging media presence, and understanding the intricacies of modern media and business strategies. Grow and monetize your newsletter with Beehiiv: head to https://Beehiiv.com and use code “EMPIRES” for 20% off your first three months. 🔥 Apply to join over 400 Founders and Execs in the Turpentine Network: https://hmplogxqz0y.typeform.com/to/JCkphVqj -- RECOMMENDED PODCASTS: 🎙️ This Won't Last - Eavesdrop on Keith Rabois, Kevin Ryan, Logan Bartlett, and Zach Weinberg's monthly backchannel. They unpack their hottest takes on the future of tech, business, venture, investing, and politics. Apple Podcasts: https://podcasts.apple.com/us/podcast/id1765665937 Spotify: https://open.spotify.com/show/2HwSNeVLL1MXy0RjFPyOSz YouTube: https://www.youtube.com/@ThisWontLastpodcast — SPONSORS: BEEHIIV | METAVIEW Head to https://Beehiiv.com and use code “EMPIRES” for 20% off your first three months.     Metaview is the AI assistant for interviewing. Metaview completely removes the need for recruiters and hiring managers to take notes during interviews—because their AI is designed to take world-class interview notes for you. Team builders at companies like Brex, Hellofresh, and Quora say Metaview has changed the game—see the magic for yourself: https://www.metaview.ai/heretics _ LINKS: Girdley Enterprise: https://www.girdley.com/ Subscribe to the Media Empires Newsletter: https://media-empires.beehiiv.com/ — X / TWITTER: @eriktorenberg (Erik) @girdley (Michael) @seanlinehan (Sean) — TIMESTAMPS: (00:00) Intro (00:57) Michael’s journey from Silicon Valley to Texas (02:58) High upside potential ventures (04:25) Team-first approach to business incubation (06:26) Art of incubation: Lessons learned (09:52) Role of distribution in business success (13:21) Building a media business (17:16) Branches under Michael Girdley’s media (19:37) Sponsors: Beehiiv and Metaview (21:45) Ideas and consistency of media contents (23:40) Hiring and incentivizing a CEO for media ventures (26:02) Setting up early compensation structures (27:05) Understanding phantom stock and profit interest (28:14) Commitment levels for CEOs (29:52) Reality of the HoldCo model (32:38) Evaluating business opportunities (34:17) Building trust with CEOs (39:04) Raising capital and ownership structures (46:02) Negative stigma on incubators (48:26) Advice for aspiring entrepreneurs (53:37) Common mistakes in scaling content (55:06) Wrap — This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at erik@turpentine.co.