Today’s episode delves into a facet of the China media business that everyone is aware of, but few are willing to discuss. Media corruption was so prevalent in the early days of the digital industry in 2010 that it became a competitive advantage for some companies. We all knew that it was big, but how big? We discovered this later, following the news about the GroupM scandal in 2023. Today’s guest goes by the pseudonym “F. B.” and is the author of the memoir, “Confessions of a Chinese American Swindler: My Rise, Fall, and Exile from the Cutthroat World of Chinese Advertising.” The book takes the readers deep into the heart of China’s media underworld, where ambition, opportunity, and moral compromise collide.
1. Please outline a typical media deal with rebates. What’s the role of the broker, and why do rebates exist?
2. What’s the business advantage of going through the brokers? Why not go through the agency?
3. Did it ever become counter-productive to growing the business?
4. Are there any cultural implications, or is it just inherent conflicts between global and local teams?
5. What’s the relationship between the media buyer and the corruption circles?
6. Has the industry transformed? Is it easier now that you can book directly on the platform?
7. Does media validation and data transparency impact the ability for corruption to exist?
8. What would take to get this to stop? It’s about financial auditing.
9. What if you booked the media directly on the platform?
10. Did you ever think you were over your head and might face jail time?
11. Have the agency networks tightened their processes and improved their operations?
12. Why did you write the book?
13. How did you reconcile your ethical limitations?
The Book: www.amazon.com
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