Transcript excerpt from a YouTube monologue by Richard Canfield describing his licensing strategy: he sought licensing deals to retain brand power while avoiding equity loss, held valuable domains, and recounts the early, pre-monetization days of YouTube. He recalls a 2014 situation where a four-year contract ended prematurely after extensive campus rollout.
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The goal was to get a licensing deal out of it. In other words, let me secure the property and let me rent it back to you. Because I wanted to have that brand power of the mentor. Kind of like on Shark Tank. You're going to. I didn't give up equity. I actually gave the brand over. But I was intelligent enough to hold on to some of the domains because I knew they were valuable, particularly being a Gen Xer. And remember, this is still early this. There's no YouTube, there's no monetization of YouTube at this point. I mean there's a couple like cat videos and maybe the Michael Jackson. Janet Jackson. The Janet Jackson super bowl thing. That was the only thing that was on YouTube. That's the only reason why YouTube existed at that time. Fast forward to 2014. I get a phone call. We had just finished our rich grad training. We were ready to go out to 136 campuses that we had built over a three year period. The contract was for four years. And I'm a big boy. I know licensing agreements are designed to end and to begin. While this was going to end, it ended prematurely. Got a phone call from the president of the time of the organization and was told.