Should You Host a Podcast?

Ten Do’s and Don’ts To Know Before You Decide

I’ve been hosting the Firewall podcast since 2017. I really enjoy it – and I accept it for what it is: a chance for me to talk to interesting people, the opportunity to explore new ideas and concepts, the chance to become a better listener and conversationalist, and a way to advance my thinking on issues I care about. It’s not a good way to make money, become famous or meet celebrities. Having now been at it for 7 years, there are good reasons to host a podcast and, perhaps even more important, there are very good reasons to not host a podcast. Here’s what you need to know.

DO host a podcast because you truly enjoy listening and talking. If the idea of having a public discussion with someone doing something new and interesting appeals to you, then you’ll enjoy the process. If that sounds more like work than fun, don’t do it because the chance to listen and talk and discuss is the best the whole process has to offer.

DO host a podcast to become a better conversationalist. I didn’t realize this when I started hosting Firewall, but the most tangible benefit for me hasn’t been reaching listeners or tech founders or investors or clients. It has made me a better conversationalist. When talking to virtually anyone, I now ask better questions. I listen more closely. Whether it’s on Firewall or just in one on one conversation, I try to give people a forum to talk about themselves and I try to force them to think a little more deeply about why they feel the way they feel. That typically produces a more interesting discussion for me, and since most people like talking about themselves (especially if the listener is genuinely curious), it makes them happy too. Everyone wins. 

DO NOT host a podcast because you’re trying to reach millions of people. There are something like 4 million podcasts out there. We have around 5,000 to 10,000 listeners per episode and we’re ranked typically in the top 4,000 podcasts globally. That shows you just how few listeners most podcasts have (podcasting is skewed towards the very top just like every other industry). Hosting a podcast is extremely unlikely to make you famous. 

DO NOT assume that because you’re good at talking to people, you’ll be good at hosting a podcast. It takes a lot of work and a lot of reps. We record two episodes a week. On Tuesdays, I talk to my producer, Hugo Lindgren, about 3-4 different topics usually involving tech, politics, culture, wellness, behavioral economics, books and sports. We prepare for days and put together an extensive document for each episode. On Thursdays, I interview someone who typically comes from one of the fields mentioned above. (Check out today’s guest episode with Brooklyn Borough President Antonio Reynoso), I’ve gotten decent at interviewing guests but only after hundreds of episodes. I still listen to as many of my own episodes as possible to see where I can improve and I listen to podcasters I admire like Steven Dubner, Bill Simmons, Derek Thompson, Scott Galloway, Tyler Cowan, Angela Duckworth, Ryen Russillo, Sam Harris, Ravi Gupta, Molly Jong Fast, Russ Roberts, Katy Milkman, Gretchen Rubin, Steven Levitt, Logan Murdock and Dax Shepard regularly to learn from them and improve my game. I still have a long, long way to go. 

DO NOT let podcasting technology intimidate you.  There are plenty of good reasons not to start a podcast. The tech you need to produce a podcast shouldn’t be one of them. There are lots of relatively inexpensive platforms available. None of them work perfectly (in our experience) but most of them are generally good enough. And if you’re in NYC, you can always use our studio at P&T Knitwear for free (sign up here)!

DO host a podcast so you can explore new ideas and develop them. I love coming up with a new concept or theory around tech investing or public policy, exploring it on the podcast and then writing about it, talking about it in my class, and sometimes turning it into an actual investment thesis or campaign. It’s a great component of the intellectual flywheel. And sometimes, I can interview people who work on these issues and problems and can hopefully advance my ideas by interacting with them (for example, we had NYC Mayor Eric Adams on yesterday, I’ve been talking and writing about illegal weed shops and quality of life problems for a long time and this was a good way to reach the ultimate decision maker on these issues).

DO NOT start a podcast to make money. A handful of podcasters make a lot of money but that’s probably not going to be you (they do this for a living). You should do it if you think the intellectual engagement and the skills you’d develop are worthwhile. Yes, there may be an ancillary branding/marketing benefit to hosting a podcast but even that probably isn’t enough reason to do it (there is for me, but only as part of a much larger earned media effort that involves writing column, substacks, books, going on other people’s podcasts, going on tv, giving speeches, teaching, etc…). Do it because it’s a more fun way to spend your time and money than anything else.

DO start a podcast if you have an area of expertise that’s unique or a perspective on something people care about that is truly different. In politics, for example, just touting the party line on how terrible Trump is or how great Trump is doesn’t accomplish anything. The last thing we need is more people saying the same things about the same people and the same topics (and there are too many political podcasts anyway). I have a friend who hosts an aromatherapy podcast. It’s a narrow niche but it also serves a purpose and serves a very specific community. 

DO host a podcast because you enjoy being transparent, vulnerable and intellectually honest. What’s unique about podcasts, compared to all other forms of media, is the intimacy of the bond formed between host and listener. You just feel like you know the host in a way that doesn’t apply to tv or radio or print or any other medium. But that means it’s a relationship and one where you owe your listeners candor, transparency and honesty. It means opening up and being vulnerable. It means holding yourself accountable. It means admitting your faults. It means being human. If you’re not comfortable with that, this is probably the wrong venue for you.

DO NOT start a podcast to meet famous people. On one hand, it’s not that hard to get guests. On the other hand, it is hard to get celebrities. Anyone who has “people” will decide whether to appear based on how many listeners you have and who they are. And odds are, you will be nowhere near their requirements. When someone even sort of famous appears on Firewall, I’m grateful because it’s an act of kindness on their part, rather than each of us meeting a need for the other. 

Hosting a podcast can be really fun. It’s also a lot of work. If the advantages described above appeal to you and the disadvantages don’t bother you, it can be a great activity/ hobby/ ancillary work thing. But it’s not easy.