Podcasts for consultants

Podcasts are a life saver.  You can listen on the drive to the airport, waiting at the gate, or on the plane.  Easy to download them to you smart phone.

One of the greatest downsides of management consulting is the incessant travel.  The time-suck is enormous with 4-6 hours of getting to / sitting around the airport, 2-5 hours flying (depending on the client site).  All told, there are 6-11 hours per week of dead time.  Some great podcasts to help pass the time (click on link or logo):

Business Week – Behind the Cover Story: Weekly interviews with the author who wrote the recent cover story.  Short synopsis of the article and also interesting tidbits that were edited out of the printed version.  For blog readers who focus on Six Sigma / Lean Ops, there was a fascinating story (04/26) about a lean efficiency expert here.

The Economist:  Been a subscriber since 1992.  To those long-time readers, you might remember when it was all black and white.  Excellent analysis, simply written, very free-market, opinionated, and very British.   Larry Ellison, Oracle’s CEO, once said, “I used to have an opinion, now I just read the Economist.”

60 Minutes: The weekly podcast is the audio portion of the legendary show.  Now in its 44th season, it is still hard-hitting journalism with more than 100 original segments annually.  Sadly, the witty and grumpy Andy Rooney died this year.  Since people watch this on Sunday nights, it is a conversation starter on Monday.

Harvard Business Review Ideacast: This is de rigeur for most strategy consultants.  In true HBR style, lots of emphasis on innovation, leadership and management research. The free podcast provides short summaries of the key articles and is a lot cheaper than the $79 annual subscription for the magazine.

Stanford Podcasts

Entrepreneurial Thought Leaders: This is a speaker series out of Stanford’s graduate school of engineering.  Speakers from Google, Facebook, Linkedin, FourSquare, Amazon, Baidu, Intel, Cisco, Nvdia, Microsoft, Kleiner Perkins, Spotify,  SpaceX, Tesla, Applied Materials, Electronic Arts etc. . . Full list here.

Planet Money PodcastPlanet Money: Awesome 20-25 min shows on the global economy.  Easy to follow – explained with middle-school logic and words.  My wife’s favorite podcast to listen to when we are on road-trips.  Excellent reporting on the financial crisis.  They even bought a toxic asset at a 99% discount to see how it worked.  “Toxie died”

Manager Tools Podcast

Manager Tools: Perhaps the best podcast to learn the every day tactics of managing other people.  All the things they do not teach you at MBA: conducting 1-on-1 session, giving feedback, delegating effectively, etc. . .  Straight-forward advice, and very active blog community members. Excellent manager tools for free here.

What podcasts are working for you?

Consultant’s Point of View: Facebook IPO

Did you read the 170 page Facebook prospectus?  Me neither.

The consultant’s short-cut is to watch the Facebook IPO video.  It was created for retail investors.  Unsurprisingly, it is quite bullish and does not really mention risks.  You can find those details in the prospectus on page 11, not in the video.Facebook investor roadshowSome highlights from the video.  Note: the numbers from the video are higher than the prospectus which was filed on February 1, 2012.

1. Facebook has scale

  • 900 million people use Facebook monthly
  • 500 million use it daily
  • 125 billion friendships
  • 300 million new photos are uploaded a day
  • 2 billion “likes” a day
  • 1 billion comments a day
  • 488 million mobile users
  • It is the most commonly download app in the US

2. Facebook is the platform

  • Facebook builds the core platform and lets other build apps
  • Facebook sees themselves as the bridge between publishers (who want distribution and eyeballs) and users (who want content that has been curated by their friends)
  • The global ad market is $600 billion.  Online and mobile ads are only 12% of total.
  • FB says it targets at 90% accuracy (e.g., women 25-34) vs. industry average of 30%

3. Facebook is growing quickly and profitably

  • Advertising revenue in 2008: $   272 million
  • Advertising revenue in 2011: $3,154 million
  • Payments revenue (usually from games) in 2011: $557 million
  • Operating margin range from last 3 years: 34% – 52%

4. Facebook has room to grow, but it takes money

  • There are 2 billion global internet users. Facebook plans to get them all
  • Penetration rates vary:  Chile and Turkey (85%), Brazil and Germany (20%)
  • The United States is 20% of users, but 50% of ad revenue
  • Capital investment (PPE and leases) in 2011: $1,079 million
  • Facebook headcount: 3,200

Several fascinating articles on Facebook and the IPO

Also, please note the bear milking the Facebook cow on the left is from the Economist article and represents the State of California; California expects to get $2 billion in state taxes from the newly minted billionaires and corporate taxes from Facebook coffers.

It is not the Wall Street “bear” symbolizing a bearish, down market. . . or is it?