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          "media:description": [
            "Scott's Book \"The Four\" http://amzn.to/2x4ScEM\n\n*We screwed up the calculation of Jack Dorsey's shares based on different classes of stock. The correct percentage is closer to 18%. We apologize for the error and will be more diligent in the future.\n\nWinner: Square. After a rocky start, the payment company rebounds under Dorsey's leadership.\n\nLoser: TV networks continue their descent with fewer 30-second spots and still-unresolved attribution challenges.\n\nWinner: Consumers, who already benefit from AI while tech moguls philosophically debate its future.\n\n(0:11) Source: “Square Shares Climb After Better-Than-Expected Results,” CNBC, August 2017. http://cnb.cx/2eX9tG4\n\n(0:13) Source: “Square Revenue Beats Estimates on Higher Transactions,” Fortune, August 2017. http://for.tn/2jtnu3G\n\n(0:27) Source: “Schedule 13G/A for Square Inc.” Securities and Exchange Commission, February 2017.\n\n(0:27) Source: “Statement Of Changes In Beneficial Ownership Of \nSecurities,” Securities and Exchange Commission, April 2017.\n\n(0:27) Source: Yahoo Finance.\n\n(0:46) Source: “Six-Second Commercials Are Coming to N.F.L. Games on Fox,” The New York Times, August 2017. http://nyti.ms/2wVe9Yo\n\n(0:55) Source: “11 Minutes of Action,” The Wall Street Journal, January 2010. http://on.wsj.com/2wY1ALo\n\n(1:07) Source: “Amazon Is Promising NFL Advertisers It Will Track Whether Their Ads Get People To Buy Things On Amazon,” Business Insider, September 2017. http://read.bi/2vQHmhO\n\n(1:13) Source: “Powering Ads And Analytics Innovations With Machine Learning,” Google, May 2017.  http://bit.ly/2xb0t7w\n\n(1:52) Source: “New York Times Opens Up Comments With Google-Backed AI,” The New York Times, June 2017. http://for.tn/2s7X9Zx\n\n(2:10) Source: “Netflix’s New AI Tweaks Each Scene Individually To Make Video Look Good Even On Slow Internet,” Quartz, February 2017. http://bit.ly/2lu8A9M\n\n(2:18) Source: “Next Top Fashion Designer? A Computer,” The Wall Street Journal, March 2017. http://on.wsj.com/2mfQYyJ\n\n(2:28) Source: “Google Announces Over 2 Billion Monthly Active Devices On Android,” The Verge, May 2017. http://bit.ly/2f8Ctyr\n\n(2:35) Source: “Google’s New Street View Cameras Will Help Algorithms Index The Real World,” Wired, September 2017. http://bit.ly/2gHASAd\n\nEpisode 141"
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        "title": "Buy Now, Bitches*",
        "link": "https://www.youtube.com/watch?v=lR-w1h5ONOY",
        "pubDate": "2017-09-14T18:03:34.000Z",
        "author": "L2inc",
        "id": "yt:video:lR-w1h5ONOY",
        "isoDate": "2017-09-14T18:03:34.000Z"
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      {
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          "media:title": [
            "What Happens in an Internet Minute?"
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            "Winner: Walmart, which has taken a page from Amazon's playbook and stepped up its storytelling. \n\nWinner: Giphy, the four-year-old GIF search engine with more daily users than Snapchat. \n\nPlus everything that happens in an Internet minute.\n\n*We screwed up on the YouTube stat and compared hours viewed to videos watched. Our apologies. \n\n(0:16) “Walmart U.S. Q2 Comps Grew 1.8% and Walmart U.S. eCommerce GMV Grew 67%, Company Reports Q2 FY18 GAAP EPS of $0.96; Adjusted EPS of $1.08,” Walmart, August 2017.\n\n(0:38) L2 Inc. Analysis of Walmart Press Releases, 2017.\n\n(1:14) “With 200M Daily Users, Giphy Will Soon Test Sponsored GIFs,” TechCrunch, July 2017. http://tcrn.ch/2wdRLFh\n\n(1:17) “Inside the GIF Factory: How Giphy Plans to Build a Real Business by Animating the Internet,” Business Insider, May 2017. http://read.bi/2shphZa\n\n(1:22) “With 200M Daily Users, Giphy Will Soon Test Sponsored GIFs,” TechCrunch, July 2017. http://tcrn.ch/2wdRLFh\n“Number of Daily Active Snapchat Users From 1st Quarter 2014 to 2nd Quarter 2017 (In Millions),” Statista, 2017. http://bit.ly/2wK9xTn\n\n(1:43) Giphy. http://gph.is/2j6DgkF\n\n(1:51) “What Happens in an Internet Minute in 2017?” Visual Capitalist, August 2017. http://bit.ly/2hoewDI\n\n(2:07) “What Happens in an Internet Minute in 2017?” Visual Capitalist, August 2017. http://bit.ly/2hoewDI\n“What Happens in an Internet Minute in 2016?” Visual Capitalist, April 2016. http://bit.ly/1WQyt1S\n\nRIP Walter Becker - https://www.youtube.com/watch?v=eAHQ-9Fniac \n\nEpisode 140"
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        "title": "What Happens in an Internet Minute?",
        "link": "https://www.youtube.com/watch?v=2DALPtbpZZo",
        "pubDate": "2017-09-07T14:42:36.000Z",
        "author": "L2inc",
        "id": "yt:video:2DALPtbpZZo",
        "isoDate": "2017-09-07T14:42:36.000Z"
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            "L2 Digital IQ Index: Top Specialty Retail Brands in Digital 2017"
          ],
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          "media:description": [
            "The pace of store closures is accelerating. In 2017, retailers are on track to close more stores than in 2015 and 2016 combined. However, our research suggests that brands investing in improving digital performance see offline benefits -- including protection from Amazon.\n\nL2’s seventh annual Digital IQ Index: Specialty Retail analyzes the digital competence of 102 brands operating in the U.S. For more insights, visit L2inc.com."
          ],
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        "title": "L2 Digital IQ Index: Top Specialty Retail Brands in Digital 2017",
        "link": "https://www.youtube.com/watch?v=lyH7REviqqM",
        "pubDate": "2017-08-31T21:11:39.000Z",
        "author": "L2inc",
        "id": "yt:video:lyH7REviqqM",
        "isoDate": "2017-08-31T21:11:39.000Z"
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            "Prof Galloway's Career Advice"
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          "media:description": [
            "As summer winds down, Scott offers some unsolicited career advice.\n\n(0:18) \"Unemployment Rate for College Graduates,\" Macro Trends, July 2017. http://bit.ly/2eHqpRt\n\n(0:24) \"The College Payoff,\" Georgetown University Center on Education and the Workforce, November 2014. http://bit.ly/25tOVsS\n\n(1:24) \"The 440 Cities Driving Global Growth,\" City Lab, June 2012. http://bit.ly/2xAPG7B\n\nEpisode 139"
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        "title": "Prof Galloway's Career Advice",
        "link": "https://www.youtube.com/watch?v=1T22QxTkPoM",
        "pubDate": "2017-08-31T16:00:42.000Z",
        "author": "L2inc",
        "id": "yt:video:1T22QxTkPoM",
        "isoDate": "2017-08-31T16:00:42.000Z"
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            "We take a break from our regularly scheduled programming to bring you an update on Scott's goat donation to Syrian refugees. \n\nhttps://gatherforgoats.com\n\nEpisode 138"
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        "title": "Gather for Goats",
        "link": "https://www.youtube.com/watch?v=ZkuQNZ2km5I",
        "pubDate": "2017-08-24T14:25:29.000Z",
        "author": "L2inc",
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        "isoDate": "2017-08-24T14:25:29.000Z"
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            "A Primer on Cryptocurrency"
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          "media:description": [
            "By popular demand, Scott and Aswath Damodaran discuss topics in cryptocurrency, from why it's impossible to value to why people choose Bitcoin over gold.\n\nFor more on Aswath Damodaran: http://pages.stern.nyu.edu/~adamodar/\n\nEpisode 137"
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        },
        "title": "A Primer on Cryptocurrency",
        "link": "https://www.youtube.com/watch?v=UKUz0hf2uBs",
        "pubDate": "2017-08-17T16:45:46.000Z",
        "author": "L2inc",
        "id": "yt:video:UKUz0hf2uBs",
        "isoDate": "2017-08-17T16:45:46.000Z"
      },
      {
        "media:group": {
          "media:title": [
            "L2 Digital IQ Index: Top Food Brands in Digital 2017"
          ],
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          "media:description": [
            "With digital sales of food and beverages expected to eclipse 20 percent by 2025, the food industry is ripe for disruption.\n\nWhile only ten percent of brands offer direct-to-consumer e-commerce on-site, there is near-universal distribution across major e-tailers. However, those sites present an increasing challenge as private label brands evolve into formidable competition. With the Amazon acquisition of Whole Foods, food brands face a disruptor whose private labels dominate the site’s food categories, coupled with technology that could be the Lucifer of brand equity: Alexa.\n\nL2's fourth Digital IQ Index: Food 2017 benchmarks the digital performance of 146 brands. For more insights, visit http://bit.ly/2vqxsGS."
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        },
        "title": "L2 Digital IQ Index: Top Food Brands in Digital 2017",
        "link": "https://www.youtube.com/watch?v=ICGkLGt_bC8",
        "pubDate": "2017-08-11T20:36:25.000Z",
        "author": "L2inc",
        "id": "yt:video:ICGkLGt_bC8",
        "isoDate": "2017-08-11T20:36:25.000Z"
      },
      {
        "media:group": {
          "media:title": [
            "iPhone Generation: Lonely & Depressed"
          ],
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          "media:description": [
            "Loser: Unsustainable internet companies. Pureplays like Wayfair and Blue Apron are getting Amazon-like valuations without a critical component: a business that works.\n\nLoser: The brand-industrial complex. Startup Brandless sells generic household items for $3 each, pointing to a larger shift in consumer behavior.\n\nLoser: The smartphone generation. Three-quarters of American teens own iPhones, and the devices are making them more lonely -- but also less likely to do drugs.\n\n(0:13) “Meal-Kit Maker Blue Apron Goes Public, Demand Underwhelms As Amazon Looms,” Reuters, June 2017. http://reut.rs/2toDqYV\n(0:13) “Pioneering Beauty Startup Birchbox Turns Profit After Tough 2016,” Forbes, April 2017. http://bit.ly/2fvh96f\n(0:13) Google Finance, August 8, 2017.\n(0:25) “New Amazon Data From Wall Street Should Terrify All Retail Stores In The US,” Business Insider, September 2016. http://read.bi/2bX6tG6\n(0:30) “How Many Americans Are Amazon Prime Members?” The Motley Fool, April 2017. http://bit.ly/2fuXqmU\n(0:30) “Share Of Internet Users In The United States Who Live In A Household With An Amazon Prime Subscription As Of November 2016,” Statista, November 2016. http://bit.ly/2vn3eob\n(0:30) “Sixty-Four Percent Of U.S. Households Have Amazon Prime,” Forbes, June 2017. http://bit.ly/2usxrU8\n(0:38) Value Investors Club, April 2016.\n(0:43) L2 Analysis Of SEMRush Data, June 2017.\n(0:47) “AMZN Cash Reserves,” Quandl, June 2017. http://bit.ly/2vIetIY\n(0:53) “Burning Cash And Losing Customers, Wayfair Is Running Out Of Options,” Seeking Alpha, May 2017. http://bit.ly/2rqZ5dJ\n(1:00) L2 Analysis of iSpotTV Data.\n(1:12) L2 Analysis Of SEMRush Data, June 2017.\n(1:31) “Blue Apron Significantly Lowers Its Valuation With Slashed IPO Pricing,” techcrunch, June 2017. http://tcrn.ch/2t1AIG0\n(1:37) “Blue Apron Is Spending More Than $400 For Every New Customer — And That's Creating A Major Problem For The Company,” Business Insider, August 2017. http://read.bi/2vIHeVL\n(1:45) “Form S-1,” Blue Apron Holdings, Inc., June 2017. http://bit.ly/2qGf2No\n(1:50) “Blue Apron Vs. HelloFresh: A Look At Multiples And Valuation History,” CB Insights, June 2017. http://bit.ly/2uK03Dl\n(1:50) “Blue Apron: 5 Things To Know About The Meal-Kit Delivery Company,” Market Watch, July 2017. http://on.mktw.net/2rtG3VH\n(2:51) Cadent Consulting Group, 2016.\n(3:42) “Have Smartphones Destroyed a Generation?” The Atlantic, September 2017. http://theatln.tc/2u3JDX6\n(3:42) “Millennials Surpass Gen Xers as the Largest Generation in U.S. Labor Force,” Pew Research Center, May 2015. http://pewrsr.ch/1KAFrQ0\n(3:54) “2016 Overview Key Findings on Adolescent Drug Use,” Monitoring The Future, January 2017. http://bit.ly/1WumBiz\n\nEpisode 136"
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        "title": "iPhone Generation: Lonely & Depressed",
        "link": "https://www.youtube.com/watch?v=llRHp5DBqIs",
        "pubDate": "2017-08-10T17:30:59.000Z",
        "author": "L2inc",
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        "media:group": {
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            "Tech Giants: Above the Law"
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          "media:description": [
            "For economies to thrive, companies need to hand over a quarter of their profits.\n\nBut the Four Horsemen - Apple, Amazon, Google, and Facebook -- pay far less than the average US corporate tax rate. \n\nLoser: future generations, who will have to pay off the debt racked up by politicians unwilling to tax the most profitable companies in the world. \n\n(0:20) S&P Global Market Intelligence.\n(1:21) “Google’s EU Fine Is a Small Price to Pay for Scale,” The Wall Street Journal, June 2017. http://on.wsj.com/2wakRWL\n(1:48) “Case No COMP/M.7217 - Facebook/ WhatsApp,” Office for Publications of the European Union, March 2014. http://bit.ly/2cxoGyC\n(2:08) “E.U. Fines Facebook $122 Million Over Disclosures in WhatsApp Deal,” The New York Times, May 2017. http://nyti.ms/2pZh1ex\n(2:33) “This Analysis Shows How Viral Fake Election News Stories Outperformed Real News On Facebook,” Buzzfeed, November 2016. http://bzfd.it/2vm5htp\n\nEpisode 135"
          ],
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        "title": "Tech Giants: Above the Law",
        "link": "https://www.youtube.com/watch?v=auydnF-Qu_w",
        "pubDate": "2017-08-03T17:30:59.000Z",
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            "Valuing Tech's Titans"
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            "Are we basing companies' valuations on the right criteria? In this long-form conversation, Scott and NYU Stern colleague Aswath Damodaran discuss what the top digital companies are really worth.\n\n(2:07) Source: “International Netflix Subscriptions Surpass U.S.,” Statista, July 2017. http://bit.ly/2v3FLIK\n(2:38) Source: RBC Capital Markets, June 2016.\n(3:33) Source: “How Many Users Does Twitter Have?” The Motley Fool, April 2017. http://bit.ly/2w4qIfg\n(4:11) Source: “How Much Time Do People Spend On Social Media?” Mediakix, December 2016. http://bit.ly/2oFfwWJ\n(5:13) Source: “Amazon Inc Form 10-K,” Amazon, February 2017. http://bit.ly/2u31VXs\n(9:16) Source: “Letter To Shareholders,” Amazon, 1997. http://bit.ly/1yx8xhu\n(11:44) Source: “Amazon’s Long-Term Growth,” Business Insider, 2016. http://read.bi/20c5FVd\n(12:25) Source: “Form S-1,” Snap, Inc., February 2017. http://bit.ly/2kmGKwj\n(16:04) Source: “About Us,” Airbnb, 2017. http://bit.ly/18TOxV1\n(16:31) Source: “RANKED: The 18 Companies Most Likely to Get Self-Driving Cars On The Road First,” Business Insider, April 2017. http://read.bi/2v3paVu\n(20:16) Source: “Google and Facebook Devour the Ad and Data Pie. Scraps For Everyone Else,” Digital Content Next, June 2016. http://bit.ly/28JbGA9\n(20:53) Source: “Number of Monthly Active WhatsApp Users Worldwide From April 2013 to January 2017 (in millions),” Statista, 2017. http://bit.ly/2j0uHH6\n(21:39) Source: “Chart: Here’s How 5 Tech Giants Make Their Billions,” Visual Capitalist, May 2017. http://bit.ly/2qgkaIE\n(23:09) Source: “Chart: Here’s How 5 Tech Giants Make Their Billions,” Visual Capitalist, May 2017. http://bit.ly/2qgkaIE\n(23:31) Source: Google Finance, July 2017.\n(24:56) Source: Google Finance, July 2017.\n(25:36) Source: “Netflix Missed Its Q1 Subscriber Numbers But Q2 Looks Better,” recode, April 2017. http://bit.ly/2oFhtzW\n\nMore on Aswath Damodaran's research: damodaran.com\n\nEpisode 134"
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        "title": "Valuing Tech's Titans",
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            "Worth more than $2.3 trillion combined, the Big Four (Apple, Amazon, Facebook, and Google) continue to grab share from media companies, brands, and retailers. Scott Galloway, Professor of Marketing at the NYU Stern School of Business and Founder of L2, will showcase how the traditional rules of business don’t apply to the Big Four and identify ways that brands and companies can fight back.\n\nScott Galloway is a Clinical Professor at the NYU Stern School of Business where he teaches brand strategy and digital marketing. In 2012, Professor Galloway was named “One of the World’s 50 Best Business School Professors” by Poets & Quants. He is also the founder of Red Envelope and Prophet Brand Strategy. Scott was elected to the World Economic Forum’s Global Leaders of Tomorrow and has served on the boards of directors of Urban Outfitters (Nasdaq: URBN), Eddie Bauer (Nasdaq: EBHI), The New York Times Company (NYSE: NYT), and UC Berkeley’s Haas School of Business. He received a B.A. from UCLA and an M.B.A. from UC Berkeley.\n\nThe L2 Digital Leadership Academy, led by faculty from NYU Stern, Kellogg School of Management, Harvard Business School, and L2 researchers, is a two-day conference rooted in business fundamentals coupled with tactical sessions on digital topics."
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            "While traditional business valuations have treated cash flow as the ultimate metric for gauging success, many of today's companies focus more on the size of their user community than their bottom line. Responding to evolving perspectives, newer valuation models attempt to assign value to individual consumers, but these models involve a series of assumptions and generalizations that do not always withstand scrutiny. Using Uber as a case study, this session will compare and contrast user-based valuation models with more traditional discounted cash flow (DCF) models, identifying where they converge and diverge.\n\nAswath Damodaran holds the Kerschner Family Chair in Finance Education and is a Professor of Finance at New York University Stern School of Business. He received a B.A. in Accounting from Madras University, an M.S. in Management from the Indian Institute of Management, and an M.B.A. and Ph.D. in Finance from the University of California. He has been voted “Professor of the Year” by the graduating M.B.A. class five times during his career at NYU. In addition, Professor Damodaran is the author of several highly-regarded and widely-used academic texts on Valuation, Corporate Finance, and Investment Management. Professor Damodaran currently teaches Corporate Finance and Equity Instruments & Markets. His research interests include Information and Prices, Real Estate, and Valuation.\n\nThe L2 Digital Leadership Academy, led by faculty from NYU Stern, Kellogg School of Management, Harvard Business School, and L2 researchers, is a two-day conference rooted in business fundamentals coupled with tactical sessions on digital topics."
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            "As Co-Founder and Chief Strategy Officer at L2, Maureen co-authored the L2 Digital IQ Index methodology and oversees L2 Research and Strategy. She has led C-level engagements for L2 members including Procter & Gamble, L’Oréal, LVMH, Nike, Unilever, and many others. Prior to L2, Maureen was a consultant at Triage Consulting Group, where she led managed-care payment review projects for hospitals including UCLA Medical Center, UCSF, and HCA. Maureen holds a B.A. in Human Biology from Stanford University and an M.B.A. from NYU Stern.\n\nThe L2 Digital Leadership Academy, led by faculty from NYU Stern, Kellogg School of Management, Harvard Business School, and L2 researchers, is a two-day conference rooted in business fundamentals coupled with tactical sessions on digital topics."
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            "In recent years, there has been a palpable shift in the nature of the US economy. Corporations are getting bigger at an unprecedented rate. The share of US corporate income earned by the 100 largest firms is at a staggering 85 percent. Facebook has 77 percent of mobile social traffic, Amazon controls 45 percent of US e-commerce, and Google has an 88 percent market share in search advertising. We can connect the shift in the business landscape to the observation that Americans today are highly divided economically, socially, and philosophically.\n\nThe L2 Digital Leadership Academy, led by faculty from NYU Stern, Kellogg School of Management, Harvard Business School, and L2 researchers, is a two-day conference rooted in business fundamentals coupled with tactical sessions on digital topics.\n\nSonia Marciano has been a Clinical Professor at the Stern School of Management since July, 2007.  She is currently the Stern academic director for TRIUM – a joint executive MBA program that includes Stern, LSE and HEC.  Prior to Stern, she was at the Columbia Business School and prior to Columbia, she spent 2.5 years at Harvard’s Institute for Strategy and Competitiveness (ISC), where she developed content for the Institute’s Microeconomics of Competitiveness course which she co-taught with Professor Michael E. Porter.\nBefore HBS, Professor Marciano spent eight years as a Clinical Professor of Management and Strategy at the Kellogg School of Management, while also lecturing at the University of Chicago.  She has also taught in both executive and full time programs for the Wharton School and Yale SOM.  Currently, Sonia teaches core strategy as well as electives in advanced strategy and global competition.  In addition, she teaches strategy and economics for corporate executive education programs in the U.S., Canada and Europe.\nSonia has won several teaching awards for distinction in teaching, most recently for best professor Yale’s, Kellogg’s as well as in Stern’s Executive MBA programs in 2010, 2011 and 2012. She was among the highest rated management professors at Stern, Columbia, Harvard, Kellogg and the University of Chicago.\nShe received her BA with honors from the University of Chicago. She worked in consulting, banking and the insurance industries before returning to the University of Chicago to receive her MBA in 1994, and her PhD in Business Economics and Industrial Organization in 2000."
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            "This has been an awful year for Uber, which was the most valuable startup in the world. We'll see...\n\n(0:41) “‘Apple Is Sex’ Scott Galloway Cannes Lions 2017,” YouTube, June 2017. http://bit.ly/2uDOG3S\n(0:56) “Uber Loses at Least $1.2 Billion in First Half of 2016,” Bloomberg, August 2016. https://bloom.bg/2bYHoz5\n(1:32) “Lyft Is Valued At $7.5 Billion After Raising A $500 Million Round,” recode, April 2017. http://bit.ly/2ufgXwN\n(1:32) “As Uber’s Value Slips On The Secondary Market, Lyft’s Is Rising,” Tech Crunch, June 2017. http://tcrn.ch/2tyTaFH\n(2:27) “Marissa Mayer Defends Former Uber CEO Travis Kalanick,” San Francisco Chronicle, June 2017. http://bit.ly/2tW5kZm\n\nEpisode 133"
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