All Segments
Bewkes Wanted Different Experiences
34 segments available
Time Warner COO Jeffrey Bewkes (MBA '77) said business leaders' success depends on getting honest answers. Recorded: May 10, 2007
Segments Timeline
The View from the Top
Jeffrey Bewkes reflects on his journey through leadership roles at HBO and Time Warner, sharing insights on the challenges of leading from different perspectives. He introduces the theme of his talk, emphasizing the importance of understanding one's position in the corporate hierarchy and the relativity of success.
"it's great to be here really is for me I uh after the last couple of days maybe I'm just imagining I imagine this is a relatively friendly audience um after the last couple of days I've been here twic..."
Navigating Leadership Decisions
Bewkes discusses the complexities of leadership and the personal questions that arise when making significant career decisions. He highlights the importance of ambition and the need to aim one's efforts effectively, suggesting that the right choices often come at unexpected times.
"you got to throw in a presidential quote in every address um here's what Harry Truman said about being the president he's quote I sit here all day trying to persuade people to do the thing they ought ..."
The Lottery of Career Choices
Using a humorous anecdote about a man praying to win the lottery, Bewkes illustrates the necessity of taking proactive steps in career planning. He emphasizes that success requires commitment and action, rather than mere hope or desire.
"call them exactly personal questions but the the questions uh for each of us of when we decide to make a major change um they're they're usually the more determinative things they're not really going ..."
The Importance of Commitment
Bewkes elaborates on the nature of commitment in career choices, stressing that understanding the type and duration of commitment is crucial. He reflects on his own experiences at Stanford and how they shaped his approach to decision-making.
"figure out all right I've been doing this so long now what do I do so what do you call Stanford Business School well I think you call it a good start so uh you did get here and that's a good thing so ..."
Unique Learning at Stanford
Bewkes praises the unique educational experience at Stanford, highlighting the balance between academic theory and practical application. He discusses how this blend prepares graduates for various career paths, emphasizing the value of unconventional choices.
"start at least it was for me and uh you know just a serious observation that I've seen because I see a lot of graduates of other schools I think Stanford really is a bit on the unique side in terms I ..."
From Wine to Finance
Sharing a personal story, Bewkes recounts his early job at Sona Vineyards and how it provided practical experience that complemented his academic learning. He reflects on the unexpected applications of his education in real-world scenarios.
"equally adventurous even the ones that are not thought to be adventurous uh you never know so reminds me U for me it's a question for you trying to figure out what fits you I was one who found a what ..."
Crisis and Decision-Making
Bewkes narrates a pivotal moment in his career involving a high-stakes decision at City Bank. He illustrates the pressures of making choices and the importance of seeking guidance from colleagues in critical situations.
"to how to sell it so the technology for that was not may not have been very inspiring but the motto of the company was inspired which was we drink all we can and we sell the rest and you know that tha..."
Learning from Experience
Reflecting on a frantic call from Christina Onassis, Bewkes shares a lesson learned about the importance of collaboration and seeking help in business. He emphasizes that effective leadership often involves listening to others and adapting to emerging situations.
"there wasn't an exotic twist to this job which uh I'm just saying it so you don't think I was crazy when I took it I was going into the shipping Division and they had an international uh element to th..."
The Emergence of Business Cases
Bewkes concludes by discussing how real business challenges emerge from various sources, including the press and employees. He underscores the need for leaders to be attuned to these dynamics and to learn from the collective experiences of their teams.
"Russians get here so this was not my normal business problem and uh and it was lunchtime you know she wanted to know she was dinner time for her she my boss boss was off playing squash his boss was at..."
The Need for Honest Feedback
Bewkes emphasizes the necessity of obtaining honest answers in business, especially for leaders. He discusses the challenges of power dynamics within organizations that can hinder open communication. Bewkes argues that successful leaders must engage with their teams to gather insights and make informed decisions, rather than relying solely on their own perspectives.
"best advice that I can give to you whatever you're going to do whether it's a small thing small company a big company you're going to need help uh from everyone that works around you there's going to ..."
Managing Up vs. Leading Down
In this segment, Bewkes critiques the tendency of ambitious professionals to focus on managing upward rather than leading their teams effectively. He explains that true leadership involves understanding and communicating with all levels of an organization, and that leaders must be open to criticism and differing opinions to foster a collaborative environment.
"able able to uh get information convey information make clear what your decision process is what you're thinking about all the time in real time you need to get information from them and you need to g..."
The Courage to Embrace Failure
Bewkes reflects on his transition from City Bank to HBO, where he faced the challenge of creating a new television network. He discusses the importance of accepting failure as part of the innovation process and how it can lead to valuable lessons. This mindset was crucial for HBO's mission to revolutionize television, emphasizing that a culture of trial and error can drive success.
"about what you think about me uh eventually I realized that I did not come from the right family to go into the shipping business or to prosper in it so I left City Bank in 1979 to join HBO and as my ..."
Consistency in Vision at HBO
In this concluding segment, Bewkes highlights the unique consistency of HBO's mission over the years amidst a rapidly changing media landscape. He contrasts HBO's stable focus with the tumultuous nature of other networks and studios, underscoring the importance of a unified vision and commitment to quality in achieving long-term success in the entertainment industry.
"90% of the audience they had a hundred times the money to spend on series and as you probably most of you know still true today when you're doing Network television series you remember the fall pilot ..."
The Shift in Cable and Content Distribution
In this segment, Bewkes outlines the evolution of the cable industry, detailing the consolidation of cable companies and the rise of satellite providers like Direct TV. He discusses how the definition of cable TV has expanded to include various services beyond traditional television.
"less than about 40% today all the movie studios the seven Majors you know their names have changed hands um and most of them have bought TV networks that they now try to use to supply each other over ..."
The Gamble of HBO's Original Programming
Bewkes shares the story of HBO's leap into original series programming, highlighting the risks taken with shows like 'The Sopranos.' He recounts the initial skepticism he faced and the importance of believing in innovative ideas despite potential failures.
"business so uh I got I like to tell this I I have to it's just fun for me talk about um failure maybe or luck not sure which it is I think they go together in some ways we did a lot of things we weren..."
The Unexpected Success of 'Sex and the City'
In this segment, Bewkes discusses the initial doubts surrounding 'Sex and the City' and how he almost canceled the show. He reflects on the show's premise and the challenges it faced, illustrating the importance of perseverance and vision in creative endeavors.
"HBO it was uh I walked out on my driveway on a Sunday morning to get the paper and this guy stepped out of a late model sedan parked in front of my house he told me that he had an idea for a televisio..."
Learning from Mistakes in Programming
Bewkes emphasizes the necessity of being saved from one's own mistakes in the creative process. He shares anecdotes about the challenges faced during the production of 'The Sopranos' and the importance of sticking to original concepts despite external pressures.
"cancelled Sex in the City I did I know that you know if but think about it you might think this way if you looked at the first three episodes you might have actually thought this yourself I mean just ..."
The AOL Merger: A Cautionary Tale
Bewkes discusses the challenges faced during the AOL and Time Warner merger, highlighting the pitfalls of greed and arrogance. He reflects on the merger's initial promise and the subsequent decline in value, serving as a lesson in the importance of adapting to market changes.
"AOL um just as we had to shift course at HBO we obviously got this huge Juggernaut at AOL right when the Dynamics were heading the other way it was it was despite the fact that it probably doesn't car..."
Transforming AOL's Business Model
In this segment, Bewkes outlines the strategic shift at AOL from a subscription-based model to offering free services. He discusses the challenges and successes of this transformation, emphasizing the importance of adapting to industry trends and consumer needs.
"supposed to go like this and if you read not just inside our management but any analyst reports really a lesson everybody here no analyst report at that time said that this was a bad idea most of ther..."
AOL's Growth and Future Outlook
Bewkes shares positive developments at AOL following the strategic changes, including significant growth in advertising revenue. He highlights the renewed focus and optimism among employees, illustrating the impact of a clear mission on company culture.
"so it's a pretty big drop in value now it's it's uh it's it's me may be a little misleading to look at it that way and to call it that because many of the companies that were in the Silicon value the ..."
Navigating the Media Landscape
In the concluding segment, Bewkes discusses the complexities of the modern media landscape, including the influence of private equity and the evolving nature of internet stocks. He encourages a proactive approach to understanding market dynamics and the importance of clear communication within organizations.
"view of um so it just feels different when you go talk to AOL people they are really thinking positively taking risks focusing on the quality of the product that they're doing um so just to finish you..."
The Challenge of Honest Communication
Bewkes emphasizes the necessity for leaders to foster an environment where team members feel comfortable sharing honest feedback. He discusses the balance between encouraging a 'can-do' attitude and ensuring that team members can express limitations, which is crucial for effective decision-making in any organization.
"quote media Business Media internet infrastructure and um your challenge just to on the personal level is obviously going to be if whatever you're in whether it is or isn't the media business is to fi..."
The Future of Journalism
In this segment, Bewkes reflects on the potential impact of media ownership changes on independent journalism, particularly in relation to the Wall Street Journal. He discusses differing perspectives on how ownership might affect journalistic integrity and the challenges posed by family-controlled media entities.
"questions [Applause] did you have one you talk a little bit about yeah I don't you know I don't know uh how it might impact there's been some pretty uh complete perspectives written about it and since..."
Creating a Unified Vision
Bewkes shares insights on how to develop a consistent vision within an organization. He highlights the importance of a culture of debate and collaboration, explaining how this approach fosters innovation and allows for course corrections when necessary.
"the Wall Street Journal there are others that say no it would be actually inappropriate or to some extent uh not so discontinuous management of the Wall Street J I don't know the answer to that obviou..."
Managing Creative Risks
In this segment, Bewkes discusses the complexities of managing creative talent in the media industry. He explains how understanding the dynamics of creative partnerships and maintaining strong relationships with producers can lead to successful outcomes, despite the inherent unpredictability of the entertainment business.
"Lot K you mind just standing up saying your name is that okay he's going to kill all the question sorry I'm Kenny garter I just you talked a lot in your speech about an HBO hter was consistency and wh..."
Adapting to Market Realities
Bewkes recounts the decision to shift AOL's subscription model in response to market competition. He emphasizes the importance of recognizing when a business model is no longer viable and the need for strategic realignment to adapt to changing consumer expectations and technological advancements.
"under contract to buy movies we didn't know if they were going to be any good or how much money we'd have to pay for them but when we made those kind of choices um we were very clear with each other o..."
The Role of Leadership in Change
In this segment, Bewkes reflects on the leadership challenges faced during significant organizational changes. He discusses the importance of clear communication and the need for leaders to guide their teams through transitions while maintaining focus on long-term goals.
"not raising a legitimate new piece of info you're trying to retry the case and you shouldn't do that now all you have to do is those kind of things a few times and once everybody sees because most peo..."
Understanding Creative Partnerships
Bewkes explains the significance of building strong relationships with creative partners in the media industry. He discusses how Warner Brothers' success in producing TV shows stems from its ability to collaborate effectively with various networks, highlighting the importance of strategic partnerships in achieving success.
"it was me and I figured this all out but it wasn't um basically it was a combination it wasn't it actually wasn't hard at all oddly enough because with some some key colleagues some of whom are now in..."
Restructuring for Success
In this concluding segment, Bewkes discusses the restructuring efforts at AOL and the challenges faced by employees during this transition. He emphasizes the need for companies to adapt and realign their strategies in response to market realities, even when it involves difficult decisions.
"it is it is what it is it's reality so let's accept that then let's start working on what should now we have to realign the company it's going to be a different company it's going to be selling ads an..."
Navigating Change at AOL
Jeffrey Bewkes discusses the challenges faced by AOL during a significant restructuring phase, highlighting the emotional toll on employees who lost their jobs. He reflects on the difficulties of managing creatives in a volatile industry, emphasizing the unpredictable nature of Hollywood's hit-driven business model.
"the people at AOL very hard to go through that change because they had to completely restructure the aim of the company and downsize and a lot of people lost their jobs that was very hard for everybod..."
The Art of Managing Creatives
In this segment, Bewkes elaborates on how managing creatives at Warner Brothers parallels managing traditional business relationships. He explains the importance of strategic partnerships and contractual relationships with top producers and writers to ensure successful TV show development.
"that uh but how you you know first of all you don't we don't I didn't manage creative that much um in my general management job and and not now but for the way the company in total manages creatives i..."
Systematizing Creativity in TV Production
Bewkes outlines how Warner Brothers has systematized its approach to TV production by building strong relationships with key creative partners. He discusses the significance of nurturing shows through their initial seasons and how strategic partnerships can lead to better outcomes in a notoriously unpredictable industry.
"systematize it which I'm turning your question into that you need to be able to be good institutionally at knowing who to be in business with and what Warner did in the TV side is essentially as we go..."
The Future of Online Video
Jeffrey Bewkes shares his vision for the online video market, emphasizing the importance of established brands like CNN and HBO in guiding audiences to new content. He discusses the potential for on-demand viewing across various platforms and the role of advertising in this evolving landscape.
"you do it your vision of the online video market and how that that impacts your company yes um clearly online is increasingly going to be an equal way that everyone gets video and we think at Time War..."
HBO's Market Power Explained
In this segment, Bewkes reveals the strategic moves that gave HBO its market power over studios. He explains how HBO's unique contracts with studios provided a financial safety net, allowing them to thrive in a competitive landscape while leveraging subscriber growth to negotiate better deals.
"unscheduled way and uh we just had the national cable convention yesterday I came from there to here um and we all set it out there which is the the big thing for the video industry and the cable tele..."