"er, yes, as I've said before, we invest in podcasters, not conferences. Let the undition begin!"
I think that was Todd's point. He also is is trying to something similiar to Podshow with the Tech Podcaster's network. I'm sure if Podshow had anything significant, worth of a sponsership, to say they would have put their money there. From what I have gathered from his blog & podcast Todd would have done the same thing. When working with a startup you need to feel you are getting enough return on conference sponsership to do it.
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