Linus Sebastian has released a video announcing that he’ll be stepping down as CEO of Linus Media Group as of July 1. The popular YouTuber from Canada has been streaming his Linus Tech Tips channel since 2008 where he’s covered a wide variety of technology reviews. Fans of LTT shouldn’t panic as Linus will continue to host and present new content. He’ll be trading his CEO title in while donning the new title of Chief Vision Officer. In a full-circle twist of fate Linus is handing over management of his company to his old boss Terrance Tong from NCIX (where he worked from 2007-2013). He jokingly expresses that who better to manage him than the person who supervised and taught him so much in his previous job.
He added, primarily for Linus Media Group personnel, and the sound of relief could easily be heard in his voice, that in moving forward any and all complaints will now go to someone else. Be it in regard to salaries or the contents of the hallway vending machine, he’ll no longer be involved as of July 1. Linus also shared how he’d been after Terrance for some time but had been unable to make anything happen as his former boss had been doing very well in working for other big companies such as Corsair and Dell. He was almost in tears in expressing happiness that things finally came together allowing them to work together again.
Never cut out to be CEO
Linus was very clear that the role of CEO was wearing him down and not something he was ever cut out for. It’s a topic he’s covered in previous videos and while happy and proud of all of the accomplishments of LTT/LMG, the weight of running the growing business has taken its toll over the last ten years.
From Kotaku:
“I wasn’t built for this, and I’m tired”, he says. “Like ‘really can’t do this anymore’ tired. And if I try to drag myself through another 10 years of business administration I know I’m gonna destroy myself, and probably end up killing the company and the community that I love so much in the process”.
Linus Sebastian was also quite frank in revealing that he had been offered a $100 million deal (60% cash / 40% equity) for Linus Media Group. He joked that the deal would’ve been enough for him and his wife Yvonne, their kids, grandkids, and so on to retire in comfort but they turned it down due to enjoying working with the company and honestly not needing the money anyway.
Discussion (19 replies)
Join Discussion →Turned down 100 mil? I call BS on that. Any sane person would have taken that cash and ran.
I too am wondering about that.
I don't know squat about his background but I saw some posts on either Reddit or Twitter from folks alluding that they (him or his wife or both) already have a substantial amount of money. Like I said though, I don't really know. Yeah if it was me I'd probably have taken it and run but he has committed a lot to creating this and probably isn't ready to let it go fully. He may not want to abandon everyone involved either, at least not yet.
He stated in his video that money (100 mil) wouldn't have changed their lifestyle at all.
That's because he does not like spending money, that's ofc easier if you can basically get most of what you want for free from sponsors.
Still why create a company with over 100 employees if you don't want to be the boss of that many.
I thought the same thing. There is more to this that I'm sure we won't find out until later if at all.
I do not know him at all. But I do watch his WAN shows every Friday. He has stated this about the money offer before, so this is not new news. Also, from his discussions, he is doing quite well for himself, he does not need to worry about selling the company. For him, it truly, as he says, isn't about the money, but he actually enjoys having the business and making a difference in the industry, and he does, as he states, genuinely care about his employees. I can tell he's the kind of person that does care about the business. I do believe him when he says it isn't about the money, and he's quite clearly doing well for himself. Say what you will about the man, but he has created a successful empire, and his new Labs he is setting up, will change the industry and how computer hardware is tested, compared and evaluated for comparisons. I truly think no one else will be able to compete on this level.
I think he likes being owner but doesn't like the stress of being the boss. Now he has a CEO to be boss and he can accept checks and still do whatever fun for him projects he wants to do.
I agree with you 100%. He is entertaining while also being informative and not using click bait titles constantly to gain views like most of the other tech youtubers out there.
This, 1000%, and then some. That's exactly what I took from watching the video.
Yeah sure 100mil with 100mil strings attached including working for said contract.
Good for him. Not everyone is built to be CEO. He'll still be executive chair and be a part of the most high level decisions while not having to worry about the day to day operation decisions. And he'll have more time for creative freedom that built his company in the first place.
Smart.
No one knows the details of the $100M offer. He seems to care about his employees and the brand he built. Could have been from a capital investment firm. In which case, yeah, I would have turned it down as well.
Let me put it this way, Linus is also building a 14-court badminton court and gym not related to LMG including owning LMG, Linus Tech Tips, Creative Warehouse, and Floatplane. I think he's doin alright.
Much like Mr Beast Linus is making smart moves and taking risks that have paid off quite well so far. I tend to agree he's not hurting at all and will probably have his conglomeration of holdings breach the equivalent of the fortune 500 if he can keep it up. At least.. the 30 year old version that had a 2 billion valuation to it.
Am I the only one that absolutely cannot stand the sound of his voice? It's like Kryptonite to me. I visibly recoil when I hear it.