The Future of Veritasium

Summary

In this video, Derek Muller reflects on his YouTube journey with Veritasium, discussing how his passion for science, teaching, and creating content led him to pursue a full-time career in 2011. Despite facing challenges like uncertainty and burnout, Derek's channel grew, eventually leading to an investment deal in 2023 with Electrify. This partnership allowed him to reduce his workload and focus on family, while expanding Veritasium’s reach and impact. As the channel continues to grow, Derek steps back from daily operations, leaving behind a talented team dedicated to spreading critical thinking through high-quality science content.

Takeaways

• 😀 Derek started Veritasium in 2011 after quitting his full-time job, focusing on his passions for science, teaching, and creating videos.
• 😀 In the early years, Derek did not make much money from YouTube, with his first-year earnings totaling only $840 and his second year earning $12,000.
• 😀 The main motivation behind Veritasium was not profit, but to increase critical thinking and explore the truth about the world through science.
• 😀 Derek avoided traditional business practices like selling products and promoting merchandise, instead focusing on providing value through content.
• 😀 A major fear for creators is uncertainty, particularly the possibility of the YouTube algorithm stopping recommendations, which could end a creator's career unexpectedly.
• 😀 To handle financial precariousness, Derek kept his expenses low, worked long hours, and did much of the work himself, including filming, editing, and writing.
• 😀 In 2016, Derek launched a Patreon to support his growing family, but the channel continued to grow rapidly, requiring more help from others.
• 😀 Hiring staff was a slow process for Derek, but over time, he brought in talented individuals who contributed significantly to the channel's success.
• 😀 By 2021, the team had grown to include writers, editors, animators, and producers, yet Derek's workload remained high as he continued to manage the process.
• 😀 In 2022, Derek entered a partnership with Electrify, which provided investment, resources, and a more sustainable work-life balance, allowing the channel to grow further while reducing Derek's personal workload.

Q & A

What inspired Derek Muller to start Veritasium?

Derek started Veritasium in 2011 after quitting his full-time job. His primary motivation was to combine his love for learning about science, teaching, and creating content. He wanted to make educational videos, not for business reasons, but because it allowed him to do what he loved.

How much money did Derek earn in the early years of Veritasium?

In the first year, Derek made just $840, and in his second year, he earned $12,000. He didn’t enter YouTube for financial gain but because of his passion for science and video creation.

What was Derek’s approach to monetizing his channel?

Derek didn’t focus on monetization or business at the start. He was more interested in providing value and teaching science. He never pushed for merchandise or promotional content, preferring to focus on creating quality videos instead.

What does Derek say is the biggest challenge facing creators?

Derek identifies 'precariousness' as the biggest challenge for creators, referring to the uncertainty around how much one can earn and when success may end, especially given the unpredictable nature of YouTube's algorithm and other external factors.

How did Derek handle the instability of being a full-time creator?

Derek reduced his expenses, limiting purchases to only necessary equipment. He also relied on working solo for a long time, ensuring that he could survive on minimal costs, despite the precarious nature of his income.

What led Derek to hire people for Veritasium?

Derek eventually hired people because the channel grew to a point where managing everything himself became unsustainable. However, he was hesitant to hire at first and was often too focused on creating the next video to prioritize hiring.

How did the partnership with Electrify come about?

In 2022, Derek was approached by Owen and Ian, the founders of Electrify, who wanted to invest in Veritasium. They offered to buy part of the business while Derek would remain an owner, reducing his workload and providing stability.

How has the collaboration with Electrify impacted the Veritasium channel?

Since the partnership with Electrify, Veritasium has seen substantial growth. The number of subscribers has increased by 50%, and viewership time has hit record highs. However, the focus has remained on maintaining high-quality, deep-dive content, rather than churning out more videos.

What is the role of the team behind Veritasium now?

Derek now has a talented team of over 30 people, including writers, animators, editors, and production staff. They handle various aspects of production, allowing Derek to focus more on creating and guiding the content. The team has significantly expanded the channel’s capabilities and global reach.

How has the quality of Veritasium videos changed with the larger team?

With the expanded team, the production quality has significantly improved. Videos are now professionally storyboarded, animations are hand-drawn, and there’s access to a legal team to help with controversial topics. This has allowed Veritasium to produce even more ambitious content.