John Fuisz - Forest for the Trees
John Ennis
Contributor
Executive Summary
In this episode, John Ennis interviews John Fuisz, a serial inventor with over 30 US patents and the founder of Fuisz Video. They delve into the world of interactive video, discussing its potential to revolutionize e-commerce, advertising, and content consumption by making video a clickable, shoppable, and deeply engaging medium.
Key insights:
- The Evolution of Video: Fuisz explains that interactive video is the next logical step for digital content, transforming it from a passive 'lean-back' experience to an active 'lean-forward' one, much like hyperlinks transformed static text.
- The Power of Patents: Patents are presented as a crucial strategic tool for entrepreneurs, providing not just protection but also credibility for fundraising, market positioning, and defending against larger competitors.
- The Entrepreneurial Mindset: The conversation highlights the importance of 'seeing the forest for the trees'—maintaining a long-term vision while navigating the immediate challenges and skepticism that innovators often face.
- Transforming E-Commerce: Fuisz's technology allows any object or person in a video to become a clickable link, seamlessly connecting content to commerce and providing powerful attribution data for advertisers.
Resources mentioned: fuisz.com
Full Transcript
Introduction and Background
John Ennis: John, welcome to the podcast.
John Fuisz: Great to be here, John. Thanks for having me.
John Ennis: I'm delighted to have you on. Let's get straight into it. Tell us a bit about your professional background because it's quite an interesting one. You are a serial inventor with over 30 US patents. Can you tell us a bit about your journey to date?
John Fuisz: Yes, that's kind of you to say. I think a lot of times people don't see the forest for the trees, right? And so, you sort of go through life and you don't realize you're a serial inventor until someone calls you one. I've been very lucky. My father's an inventor, he holds a couple hundred US patents. So I grew up in a household where if we had a problem, we would just sort of invent আমাদের way out of it. And so that was just a normal thing in our household. That's just what you did. And as I grew up, I was very lucky to be able to find a career path that allowed me to continue to invent.
John Ennis: And it's not an easy thing to do because coming up with the ideas is one thing, but actually going through the process, the patent process, and then building businesses on the back of it is another thing altogether.
John Fuisz: Yeah, it can be a lonely road. I think anyone who's an entrepreneur knows that. And if you're an inventor, that's sort of a different type of entrepreneurship. A lot of people are going to tell you you're crazy. They're going to tell you it's not going to work, and you just have to have a really thick skin.
The Genesis of Interactive Video
John Ennis: So where did the genesis of the idea for Fuisz video, your current business, come from?
John Fuisz: It really came out of a frustration. This was about 10 years ago. I'm a big believer that a lot of really great inventions come out of a frustration. For me, it was watching a music video. I saw a pair of sunglasses and I said, 'I'd love to buy those.' I had to go to Google, I had to type in, 'What sunglasses was so-and-so wearing in this video?' Then I went to a bunch of different websites trying to find it. I got frustrated and I gave up. Then the light bulb went on and I said, 'Why couldn't I have just touched the screen and bought them right there?'
And that was really the start. That was the kernel of the idea that started me down this path. I looked at the state of video and it struck me as being very strange that video was really the only medium on the web that hadn't evolved. If you think about it, we were watching video 10 years ago the same way we were 70 years ago. It was a lean-back, passive experience. That struck me as being very strange in a lean-forward, interactive environment. And I set out to change that.
The Power of Patents and Entrepreneurship
John Ennis: And the patent side of things, how important has that been for you in your different businesses?
John Fuisz: Very important. It's a key part of our strategy. The way I view it is patents are a tool. They're not a business in and of themselves, they are a tool that you use to build your business. It can be a very powerful tool. It gives you credibility with investors. It gives you protection. I've been in situations in my career where I've had to go up against a very large company and that patent portfolio is really what allows you to survive.
John Ennis: I'm sure it is. In terms of your own personal drivers, what motivates you? Is it the invention part? Is it the building the business part? Or is it a combination of both?
John Fuisz: It's a combination of both. I love coming up with the idea. But an idea isn't a business. It's that journey of taking it from a cocktail napkin to an actual product that people are using that's generating revenue. That, to me, is the best part of being an entrepreneur.
John Ennis: I'm sure it's incredibly rewarding. Is it something that you feel you're getting better at over time? With each new venture, are you learning things that you can apply the next time around?
John Fuisz: Absolutely. And you learn a lot more from your failures than you do from your successes. I've had plenty of failures along the way, and I'm sure I'll have more. But that's what makes you better. That's what sharpens you.
How Fuisz Interactive Video Works
John Ennis: For our listeners who aren't familiar with Fuisz video and the technology, can you maybe explain in a practical way, from a consumer's perspective, how it works?
John Fuisz: Absolutely. So if you go to our website, fuisz.com, you can see a lot of examples. The easiest way to think about it is we turn any video into an interactive experience. Any object, person, or logo in a video can become a hyperlink. So you're watching a video, you see a pair of shoes you like, you can touch the screen and a little box will pop up, which will give you the ability to buy them, add them to your cart, or learn more information without ever leaving the video player. We're turning video from a passive medium into an active one.
John Ennis: And from the brand's perspective, or the content creator's perspective, how easy is it to implement?
John Fuisz: Very easy. That was one of the key things for us. It had to be a tool that anyone could use. It's a self-service platform. You upload your video to our platform, and then you simply draw a box around the object you want to make interactive, and you tell that box what you want it to do when a user touches it. It's a very simple, intuitive process.
John Ennis: And the level of data that you can then provide back to the brand or the advertiser must be incredible.
John Fuisz: It is. That's one of the key value propositions. For the first time, you have attribution in video. You know exactly what a user is interested in. You know what they're clicking on, what they're not clicking on, how long they're engaging with it. It's a firehose of data that advertisers have never had before. It allows them to optimize their video content in real-time, which is something that was never possible.
The Future of Video and E-Commerce
John Ennis: So is this the future then of video on the web?
John Fuisz: I believe it is. I think it's inevitable. To me, it's very similar to the early days of the web. You had pages of text, and then someone came up with the idea of a hyperlink. And that changed everything. It made the web an interactive experience. Video is the last medium to get that treatment. It's going to happen. It's just a question of when.
John Ennis: And I'm sure you're at the forefront of that. In terms of the competitive landscape, are there many others operating in this space?
John Fuisz: There are. It's a growing space, which is a good sign. It means we're onto something. We feel we have a very strong competitive advantage because of our patent portfolio. We were one of the first to really pioneer this space, and we have the patents to prove it. So we feel we're in a very good position.
John Ennis: In terms of where you see the business going over the next three to five years, what's your ambition?
John Fuisz: Our ambition is to be the standard for interactive video. We want to be the tool that everyone uses to make their videos interactive. We're very focused on building out the platform, adding new features, and making it as easy as possible for our customers to use.
Advice for Innovators and Final Thoughts
John Ennis: What one piece of advice would you give somebody who feels they have a great idea, but they're maybe a little bit hesitant to take that first step?
John Fuisz: Just do it. Don't be afraid to fail. The only way you're going to know if you have a good idea is to try it. And don't listen to the naysayers. There's going to be a lot of them. You have to believe in yourself and you have to have a thick skin.
John Ennis: It's great advice. And what's next for you personally? Do you have any other inventions bubbling away in the background?
John Fuisz: Always. An inventor never stops inventing. I have a notebook that I carry with me everywhere I go. I'm always jotting down ideas. So yes, there are other things in the works. But right now, my focus is 100% on Fuisz video.
John Ennis: John, it's been an absolute pleasure. Thanks so much for coming on the podcast.
John Fuisz: Thanks for having me, John. I really enjoyed it.