Trapital Podcast: The "Will and Jada" Playbook
Host: Dan Runcie
Date: April 9, 2021

Episode Overview

In this solo episode, Dan Runcie delivers a live reading of his in-depth essay analyzing Will and Jada Pinkett Smith’s transformation from traditional Hollywood stars into cross-platform media and business powerhouses. Drawing lessons from their strategic pivot, Runcie explores how the Smiths have built Westbrook Inc. into a formidable content and commerce engine—drawing connections to contemporary media, technology trends, and the power of audience-driven products.

Key Discussion Points & Insights

1. Context: From Setback to Reinvention

• 2013 Low Point: After career setbacks (like the flop of Will and Jaden’s film After Earth and Jada’s shift away from Hollywood), many thought the Smiths’ best years were behind them.
• Industry Change: Hollywood was shifting due to social media and new consumption habits, threatening legacy talent who relied on 1990s playbooks.
• Runcie:

  “Hollywood success is hard to maintain, especially for a middle aged black couple who rose to power on a 1990s playbook. Many assumed that Mr. and Mrs. Smith’s best years were behind them.” [03:15]

Key Pivot

• The Smiths went “back to the drawing board”, emerging with a new model that leverages social media, direct-to-audience communication, and diversified business ventures.

2. Will Smith’s 1990s Formula—and Why it Stopped Working ([04:30])

• Will’s manager identified three success themes: “special effects, creatures, and love stories.”
• Will’s box office dominance in the 2000s relied on studios, international campaigns, and his star power.
  • "Will Smith had eight straight movies gross $100 million domestically in the box office. He was a box office cheat code..." [06:06]
• Disruption: The internet, streaming, and decline of DVD/cable revenue made it harder for stars to sell movies on name alone.

3. The Shift from Privacy to Prolific, Social-First Branding

• Will initially avoided social media, believing “movie stars needed mystery and separation.” ([10:40])
• Inspired by Dwayne “The Rock” Johnson’s strategy, Will embraced Instagram and built a content team, making his social presence a marketing channel that studios now pay a premium to access.
  • Runcie quoting Forbes:

    “Johnson will insist on a separate seven figure social media fee with every movie in which he appears…” [13:05]

• “Rather than have studios dump money into TV ads or billboards, they pay their new marketing channel that doubles as their marquee star.” [13:45]
• Will leveraged this formula for the Aladdin live-action movie (2019), helping it exceed box office expectations.
  • “Analysts estimate that 12 to 20% of all Aladdin trailers came from Will Smith’s Instagram account. And since trailer views are a proxy for box office sales, Smith proved his impact.” [18:55]

4. Jada Pinkett Smith: Radical Transparency & Red Table Talk

• Post-#MeToo, Jada embraced vulnerability, launching Red Table Talk on Facebook Watch with Willow and her mom, Adrienne (“Gammy”).
• “Jada's transparency is the key ingredient. It’s a shift from her once reserved public persona.” [22:28]
• The series tackled tabloid rumors and personal issues head-on, with the first episode featuring a candid conversation with Will’s ex-wife.
• Red Table Talk averages 14M viewers per episode and became a launchpad for:
  • A line of e-commerce products (Hey Humans personal care)
  • A spinoff series with Gloria Estefan
  • Plans for international expansion

5. Westbrook Inc.: The “Lowercase IP to Capital IP” Flywheel ([27:50])

• Westbrook Media uses “fast-lane intellectual property” (lowercase IP): cheaper, quick content that can graduate to larger, big-budget productions (capital IP).
  • Example: Will’s Bucket List Instagram led to a Discovery Channel deal.
  • Example: Will From Home (pandemic series) inspired the Fresh Prince reunion special and new merch.
• “In both cases, lowercase IP is the farm system for capital IP—build the audience, then sell the products.” [33:25]

6. Audience-First Business Model & Commerce Integration

• Leveraging audience attention for commerce: Red Table merchandise, Hey Humans, Fresh Prince/Aladdin/Bad Boys for Life tickets, and Dreamers VC portfolio companies.
• Jada & Will’s audience fuels every one of these ventures, no matter the platform.
  • “Whether that is Jada’s Hey Humans skincare products, merch from the Red Table Store, any products or business related to the Fresh Prince reunion... it is all an opportunity to leverage this valuable audience that the Smith family has built.” [39:00]

7. Venture Capital and the Influence Flywheel ([41:20])

• Will Smith founded Dreamers VC, blending influencer capital with traditional venture investing.
• Partner Vic Sassi:

  “When you bring along an influencer, especially someone of Will’s caliber, you can bring the marginal cost of acquiring a customer to zero if they do an Instagram post…” [42:15]

• The “audience-first” framework: Grow audience via content; monetize via products and investments.

Notable Quotes & Memorable Moments

• On Industry Evolution:

  “Today’s social media influence for both actors and founders is a natural evolution... a power shift from institutions to individuals.” [18:20]

• On Transparency:

  “Jada's openness led other celebrities to join her at that table... Red Table Talk’s average viewership is now 14 million per show. Jada boosts Facebook Watch ratings like Serena Williams can boost ratings in a Grand Slam tennis match.” [24:09]

• On Adaptation:

  “If the 2001 version of Will and Jada Pinkett Smith met the 2021 version... They would be shocked. Y'all just put your business out there?... But they would also be impressed.” [46:06]

Timestamps for Key Segments

• 03:15 – Will and Jada face setbacks and an evolving industry
• 06:06 – Will Smith’s box office dominance
• 10:40 – Old vs. new Hollywood marketing paradigms
• 13:05 – The Rock: Social media as star’s marketing channel
• 18:55 – Will Smith’s Instagram powers Aladdin’
• 22:28 – Jada's pivot to transparency and Red Table Talk origins
• 24:09 – How Red Table Talk changed Facebook Watch
• 27:50 – Westbrook’s lower-case-to-capital-IP flywheel
• 39:00 – The Smith family’s audience-driven commerce model
• 41:20 – How Dreamers VC leverages influencer power
• 46:06 – Reflecting on the Smiths' transformation

Conclusion

Dan Runcie’s breakdown of the Smith family’s transformation is both a blueprint and a reflection on the shifting paradigms of media, narrative, and monetization. In an era where “every company is a media company,” Will and Jada’s journey illustrates how personal brand, strategic transparency, and agile content creation can underpin a multi-faceted, future-proof business model.

For visuals and diagrams referenced, visit the Trapital website.