Live Q&A With My First Million + Andrew Wilkinson (Austin Live Event) (Part 2)

Podcasting, there's 62% penetration in the United States—so, like, 62% of people are aware. But there's only $2 billion in the market—all podcasting advertising dollars and stuff. And you think about FM radio and how big that market is ... If every podcast was monetized like FM radio, it's probably that big. So, it can probably, like, 20x, 50x, 100x, I don't know.

I think, for podcasts, you don't really want to build a community as such; you want to build a cult.

When we got into this, I thought podcasts were stupid ... What I've learned is I think it's the most powerful medium that we've ever come across.

The biggest mistake... is when I bet on the business, not the jockey ... I've realized that betting on the entrepreneur is 100% of the game, because they'll figure it out.