Start Your Free Trial

Providing evolved investors and entrepreneurs with the information needed to build businesses that advance people, planet and profit. Get free access for 7 days - no credit card required.

Start Your Free Trial

Join Karma Today

Gain access to our entire library of content for a limited time - no credit card required.

Luminary's Launch Serves as a Warning to Future Podcast Challengers

Perspectives: Opinions from our network of advisors, investors, operators and analysts on the risks and opportunities they see.


It has been a rough freshman week for podcasting’s first $100 million VC darling.


Luminary, the buzzy new startup heralded as “the Netflix of podcasts,” launched on April 23. With substantial capital backing and widespread industry awareness thanks to a popular New York Times profile, the fledgling podcast seemed primed to present an alternative for the quickly maturing podcast industry.


But the company quickly cannibalized much of that positive energy.


It all began with a since-deleted tweet of a bunny holding a sign that read “Podcasts don’t need ads.” This, understandably, caused an eruption of criticism from an industry primarily held up by independent creators dependent on advertising revenue. As Luminary co-founder and former New Enterprise Associates Principal Matt Sacks told The Verge, “The bunny put a foot in our mouth.”

Join Karma Today

Gain access to our entire library of content for a limited time - no credit card required.

THIS ARTICLE IS EXCLUSIVE TO

Karma Members

arrow-right-light

Industry News

Every day, we break down the most significant private market headlines and deals.

arrow-right-light

Company & Investor Profiles

Conversations with investors and entrepreneurs we are keeping an eye on.

arrow-right-light

Perspectives from Thought Leaders

Opinions from our network on the risks and opportunities seen in key business sectors.

What is Karma Network?

Karma is a content platform for opinion and analysis from today’s leading investors, entrepreneurs and analysts on the risks and opportunities surrounding industry-shaping businesses and ideas.