Summary of "ACQ2: The Insane Productivity of Andrew Ross Sorkin"
Summary of Business-Specific Content from ACQ2 Interview with Andrew Ross Sorkin
Company Strategy, Operations, and Business Model
Dealbook Newsletter (Founded 2001)
- One of the earliest successful email newsletters, predating platforms like Substack (2016).
- Initially targeted M&A bankers, lawyers, and accountants; evolved to include CEOs, board members, regulators, and politicians.
- Focuses on the intersection of business and policy, connecting diverse storylines.
- Content strategy is a mix of original scoops and curated top business stories, designed to “arm and make readers dangerous” before their day starts.
- Current subscriber base: over 1 million influential readers worldwide.
- Revenue model: 100% advertising and sponsorship-supported; no subscription fees.
- Advertising sales are integrated with The New York Times’ broader ad team but include dedicated Dealbook-focused sales personnel.
- Early skepticism inside the NYT newsroom about linking to competitors and the newsletter’s format.
- Early monetization was ad-driven; first advertiser was Brooks Brothers; the newsletter was profitable from day one.
- Distribution involves a global team: overnight editors in Europe finalize and send the newsletter.
Dealbook Summit (Launched 2011)
- Created to bring the Dealbook newsletter’s stories and personalities to life on stage.
- A flagship annual event blending finance, technology, and policy leaders.
- Audience curated to include business leaders, political figures, academics, journalists, and public intellectuals.
- Attendance is mostly by invitation or application; tickets are not sold broadly but sponsorships fund the event.
- Event content is made publicly available within 24 hours on multiple platforms.
- Andrew Ross Sorkin conducts all interviews personally, with each requiring 15-30 hours of prep.
- The summit is a significant extension of the Dealbook brand, reinforcing influence and reach.
- The event is supported by a producer and events team but heavily reliant on Sorkin’s own research and preparation.
- The set design is intentionally minimalistic but uses strong branding (LED screen with recognizable graphics).
Multi-Platform Media Presence
- Sorkin balances multiple roles: Dealbook newsletter, CNBC’s Squawk Box (3 hours daily), Dealbook Summit, authoring books (e.g., Too Big to Fail, 1929), and co-creating the TV show Billions.
- Each platform feeds into the others, creating a synergistic media presence.
- He maintains a high-quality bar by intense focus and selective project acceptance.
- Rejects canonical wisdom that one should “not take things personally”; instead, he believes deep care and personal investment drive great work.
- Emphasizes the importance of knowing sources well to tell nuanced, human stories while maintaining journalistic objectivity.
Frameworks, Processes, and Playbooks
Interview Preparation & Execution
- Extensive preparation: 15-30 hours per interview.
- Maintains a year-round “notes app” tracking potential guests, quotes, and themes.
- Conducts background research and pre-interviews when possible.
- Does not share questions with interviewees but discusses thematic areas to prime them.
- Uses a “flight path” analogy for interviews—plans a general route but remains flexible for unexpected turns.
- Employs a technique to “depersonalize” difficult questions by quoting third-party critiques to reduce defensiveness and encourage honest responses.
- Views interviews as tennis rallies—aims for a back-and-forth dynamic that elicits revealing answers.
- Places high importance on pre-interview rapport building, including informal moments backstage or during breaks.
Newsletter Content Strategy
- Combines original scoops with curated top stories.
- Focuses on making readers “armed and dangerous” with knowledge.
- Content evolves with audience: from dealmakers to broader business and policy leaders.
- Uses subject line and introductory notes (“Good morning, Andrew here”) as hooks to increase engagement.
- Leverages direct replies from readers (including CEOs and insiders) as a unique source of real-time intelligence and story leads.
- Validation process: confirms sensitive info with multiple sources (2-4) before publishing.
Audience Engagement & Feedback Loop
- Early adoption of interactive feedback via email replies, predating social media.
- Uses reader responses as a key reporting channel.
- Recognizes that sources often have self-interested motives; corroboration is essential.
- Audience includes top business leaders, regulators, and influencers who actively engage.
Key Metrics and KPIs
- Newsletter Subscribers: Over 1 million influential readers.
- Newsletter Frequency: Six days a week.
- Event Attendance: Approximately 400-500 attendees at Dealbook Summit.
- Interview Prep Time: 15-30 hours per interview.
- Daily Squawk Box: 3 hours live broadcast every morning.
- Dealbook Summit Duration: 9 a.m. to 6:30 p.m. marathon of interviews.
Concrete Examples and Case Studies
Early Dealbook Launch (2001)
- Innovated by delivering curated business news via email before newsletters were mainstream.
- Overcame internal skepticism at NYT and external market challenges (dotcom bust).
- First advertiser: Brooks Brothers.
- Early subscribers included CEOs who requested fax copies.
- Linked extensively to competitor content and SEC filings to provide comprehensive coverage.
Dealbook Summit Launch (2011)
- First keynote by Jamie Dimon.
- Early speakers included Lloyd Blankfein, Eric Schmidt, Dick Costello.
- Focused on finance, tech, and policy intersection.
- Grew into a premier annual business summit.
Interviewing Style
- Example: Interview with Jeff Bezos, where Sorkin anticipated Bezos’s pivot to AI based on prior conversations.
- Story behind Coca-Cola’s aborted Quaker Oats deal, illustrating complexities behind business announcements.
- Use of “jilted sources” and junior insiders as valuable leak points.
Media Expansion
- Co-created Billions TV show, leveraging deep industry knowledge.
- Wrote Too Big to Fail and 1929, expanding storytelling into books and historical analysis.
- Balances journalism with entertainment and historical narrative.
Actionable Recommendations
For Entrepreneurs and Media Operators
- Focus intensely on quality and depth rather than spreading too thin.
- Build strong, trust-based relationships with sources to gain nuanced insights.
- Use multiple platforms synergistically to amplify brand and reach.
- Embrace feedback loops with your audience for real-time improvement and story leads.
- Take risks on projects that align deeply with your mission and where you can invest significant focus.
- When handling sensitive or difficult topics, depersonalize critiques by citing public discourse to reduce defensiveness.
- Prepare thoroughly for high-stakes engagements but remain flexible to adapt dynamically.
- Curate your audience thoughtfully; the makeup of your event or platform participants can enhance content quality and peer influence.
For Interviewers and Content Creators
- Develop a repository of notes and insights year-round.
- Engage with guests before interviews to build rapport.
- Use thematic priming rather than scripted questions.
- Listen actively and pivot based on new information.
- Aim for an interactive, conversational style to elicit authentic responses.
Presenters and Sources
- Andrew Ross Sorkin – Journalist, author, co-creator of Billions, host of CNBC’s Squawk Box, founder of Dealbook newsletter and Dealbook Summit.
- Ben Gilbert and David Rosenthal – Hosts of ACQ2 podcast, conducting the interview.
This summary captures the strategic, operational, and entrepreneurial insights shared by Andrew Ross Sorkin about building and scaling Dealbook, managing multi-platform media presence, and executing high-profile business interviews.
Category
Business
