Downfall of a CEO? The real reason Steven Bartlett became the man we love to hate

CEO, podcast host, writer, investor, self-proclaimed Completely satisfied Attractive Millionaire… Steven Bartlett has by no means been in need of accolades. His narrative is tight. Bartlett is the college dropout who grew up in monetary hardship however made one million by 23. 

At present, he’s the youngest investor to get a seat within the BBC’s Dragons’ Den and, through the years, Bartlett has gained a repute as an entrepreneurial renegade and wellness guru. Greater than 10 million individuals obtain his cult podcast, Diary of a CEO, each month; his ebook of the identical title – in addition to his memoir, which actually is titled Completely satisfied Attractive Millionaire – is a best-seller.

Forbes journal valued his social media and funding empire at £71m when he was simply 26 years outdated. He got here from little and made loads – an ideal rags-to-riches story. 

And but…

Individuals actually don’t like Steven Bartlett. Like, big swathes of individuals. They don’t like the way in which he speaks. Based mostly on no intimate data of him in any respect and only a feeling, every kind of individuals will inform you they suppose he’s a “narcissist”, a ”grifter” “a hustler”.

“He’s a new-age hippy however made all his cash in advertising and marketing and social media,” one other twined just lately. “He simply promotes quacks and mad well being theories,” says one other. Extra gripes: “He lets individuals like Matt Hancock complain to him about being in love on his podcast.” “He wears fancy clothes.” I simply discover him very smug.” 

These will not be distinctive opinions. In truth, social media platforms are filled with them – final week extra vehemently than most.

On Friday, an investigation by the BBC World Service discovered that Bartlett is amplifying dangerous well being misinformation on his number-one ranked podcast. The investigation – which studied 15 particular episodes of Diary of a CEO out of 400 – mentioned that he was permitting claims from friends to go unchallenged, regardless of being disproven – as an illustration, that most cancers may be handled by following a keto food plan, reasonably than confirmed remedies. It’s “harmful as a result of it creates mistrust of typical medication,” they mentioned. In response to the investigation’s findings, Flight Studio – the podcast manufacturing firm owned by Bartlett – mentioned, “Every visitor episode is completely researched previous to fee. DOAC provides friends freedom of expression and believes that progress, development and studying comes from listening to a spread of voices, not simply these Steven and the DOAC group essentially agree with.”

It’s not the primary time the Dragon’s Den star has been in controversy – again in August, his cope with “nutritionally full” meals model Huel and wellness programme app Zoe was sensationally pulled by the Promoting Requirements Authority (ASA).

The paid-for promotions on Fb, shared in February, featured Bartlett alongside an endorsement that Huel’s each day greens drink is the model’s “greatest product”; one other, through which Bartlett is pictured with a Zoe patch on his arm, he claims the app “may simply change your life”. 

Sadly, the adverts didn’t declare some fairly essential data: Bartlett is an investor in each manufacturers. A number of complaints had been made difficult whether or not the omission of his industrial curiosity within the two manufacturers was deceptive to the general public. The ASA agreed that it was. 

It’s truthful to say individuals had been fairly offended. “Why did he suppose he would get away with it?” Ryan T Williams, who co-founded It’s Gone Viral, a competitor of Social Chain, the corporate that started Bartlett’s profession, mentioned final week. “It’s not solely a authorized obligation however an ethical one too. That is just like the man who owns McDonald’s telling you, ‘Massive Macs are good for you’.” 

This newest scandal is a small peak within the mountain of backlash Bartlett faces for his influential place in “wellness tradition”. It’s barely six months since he discovered himself embroiled in one other well being scandal involving Acu Seeds, an “ear-seeds” acupuncture firm that appeared on Dragons’ Den.

Bartlett made a big funding however, when the episode attracted mass criticism – Giselle Boxer, who based the corporate, was accused of “promoting snake oil” after claiming an analogous product helped her recuperate from myalgic encephalomyelitis (ME) – it was quickly faraway from the BBC. Bartlett’s brother Jason, not Steven himself, was listed as a director.

Born in Botswana, his Nigerian mum and British dad moved Bartlett and three older siblings to Plymouth, Devon, when he was two. It was a “good, white center class” space the place they struggled financially, he says.

After scraping via college, he left his enterprise administration course at Manchester Metropolitan College after attending one lecture. It was then he arrange Social Chain, with pal and enterprise companion Dominic McGregor. 

The corporate, a social media and advertising and marketing model, was undoubtedly very profitable and started to evolve, finally merging with German model Lumaland and making Bartlett co-CEO of Social Chain AG in 2019. In 2021, its income expectations had been reported as greater than £500m. In 2023, studies mentioned that had risen to virtually £1bn. But, the identical yr, Social Chain Restricted – Bartlett’s unique begin up – bought in an acquisition deal for simply £7.7m. 

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To his admirers, his wealth appeared to have been overstated. Bartlett took to X (previously Twitter) to make clear the scenario – he bought the “unique company enterprise we had began in [Manchester] virtually 10 years in the past”, he mentioned, not the remainder of the 30-plus firm portfolio below the umbrella of Social Chain. However a seed was already planted. 

Nick Stylianou says the small print of Bartlett’s success and “inspirational” mission started to be questioned. He’d exaggerated to make him “a part of some grand self-mythology”, he says, “as a substitute of merely a really gifted younger man who’d finished properly for himself,” he says. “The British individuals love an underdog and cheer on the rags-to-riches story, however the turbo-LinkedIn brags” – like 250-word posts about his courageous resolution to not put on fits on Dragons’ Den, for instance – “simply rub individuals up the fallacious approach.”

Stylianou went viral this week for posting an embarrassing video of Bartlett battle rapping as alter-ego “Lyricist”. The CEO had beforehand tried to have the movies faraway from the web in an try to “polish” his picture. 

His podcast, enterprise investments, social media empire, and his TV appearances imply he does put the hours in, and to good impact. He’s a standout at what he does – advertising and marketing – particularly relating to himself. “I really like him,” a few individuals confess after I collect opinions. “I believe he hires very properly, too. He’s bought an ideal group.” 

Holly Peacock-Goodwin is a fan. “I really like his interview model on the podcast,” the model director says. “He asks the questions different individuals won’t dare as they may reveal their very own ignorance.” She references an episode through which he interviews Dr Mary Claire Haver titled “The No.1 Menopause Physician: They’re Mendacity To You About Menopause! Model New Science! (Males Want To Pay attention Too!)”. 

The episode noticed him ask questions on a topic “he actually didn’t have a clue about,” she says, “and a variety of males (and ladies) don’t both. So I believed that was nice.” 

However, whereas Bartlett is usually praised for making very listenable podcasts, he receives simply as a lot negativity for the individuals he platforms on Diary of a CEO, particularly relating to wellness myths, fads and, some say, well being charlatans.

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Prior to now, he’s interviewed Gary Brecka, a self-proclaimed “human biologist” who says he can predict an individual’s loss of life to the precise month, and that Alzheimer’s illness is a sort of diabetes. He has no medical diploma, and his claims that extra folic acid from meals causes ADHD will not be primarily based on any proof. 

Billionaire Bryan Johnson, who claims he’s going to dwell perpetually by reversing his ageing with 111 tablets per day and a vegan food plan has additionally been featured. In accordance with Stylianou, Bartlett is “in an echo chamber of individuals agreeing along with his quest to inform you how and why you’ve been dwelling your life fallacious”. 

“My drawback with Bartlett is that he’s arrange as a pseudo-intellectual, a public determine now working vainness publications to embed himself within the media panorama.” 

Bartlett seems to be the epitome of an emergent tradition of marginally profitable individuals deciding they’re consultants on all the things – however he can’t be held liable for that in its entirety. He’s in good firm.

Different podcast bros like Joe Rogan – an MMA professional turned cult-like determine – or Jordan Peterson, as soon as merely a medical psychologist now a right-wing conspiracist with all of the solutions, are sitting in the identical studio. 

Possibly he’s manipulative, possibly he’s profiting off an unstable economic system, the place younger individuals going through a tough jobs market need new methods to get wealthy – and highly effective – fast.

There’s virtually actually a scarcity of readability and third-party witness to his story that sits uncomfortably round him. Nevertheless, let’s not be shy about it: there’s additionally a powerful sense of schadenfreude surrounding the awaited downfall of this CEO. 

However look – nonetheless. Right here we’re, speaking about Steven Bartlett. Like him or not, it’s apparent: his advertising and marketing technique is working. The pedestal could also be shaking, but it surely hasn’t crashed to the bottom simply but.This text was amended on 19 August 2024. It beforehand mentioned that Bartlett ‘bought his knuckles rapped by the ASA’, however that was incorrect. The ASA rulings had been towards the manufacturers and never towards Bartlett.