Quincy Smith is moving on from his gig atop CBS Interactive, but he’s not leaving. He tells us, “I love CBS, I will continue to bleed CBS.”
He’s just going to be bleeding from afar now. He’s setting up his own boutique investment bank that will focus on tech companies out in the Valley. We spoke with him today about where he’s been and where he’s going. Here’s the highlights.
Those things in quotes are direct, the other parts are paraphrases, Quincy talks fast.
Why is he leaving? “I can do more with CBS outside CBS.”
How so? “I can be more helpful on the field, than in the dugout.” He’ll be able to work with more partners across the media landscape.
What are his thoughts on Hulu? “It’s amazing, but we still need a business model to arrive.” And Jason Kilar, Hulu’s CEO, knows it needs to be generating more revenue for NBC, FOX, and ABC.
So, what will you be doing with authentication/TV Everywhere? We’ll be working with a bunch of companies trying to make the technology work. It’s a huge opportunity. It can be valuable to advertisers, and it be a “huge win.”
What about critics who say he overpaid for CNET? “It’s not my business to comment on price.” But, “you can’t determine value of an acquisition for five years.” You need to let it grow. But he hastens to point out, CBS has a “killer” team, it’s growing and it’s now a top 10 web property.
What’s his new gig? An investment bank with a “laser like focus on tech.” There used to be four smaller investment banks in the Valley dedicated to tech. Now there’s just bigger shops like Goldman. He wants to help entrepeneurs, who “deserve to know where a banker can help.”
What’s the legacy at CBS? It’s about growth. CBS was ranked 140, now it’s top 10 on the web. And that’s premium content, too. You can see AOL, Fox Interactive, Yahoo, Barry Diller all moving towards premium content. CBS is already there.