Speaker 1: I'm Emily Chang and this is the circuit.
Speaker 2: Oh all, no needs to run. Your fates have already
Speaker 2: been sealed.
Speaker 3: I'm about to meet the inspiration for this character in
Speaker 3: HBO's hit series Entourage.
Speaker 2: Yes, Sie, I'll be bed, I've been great, I'm back,
Speaker 2: and you're fired.
Speaker 1: I know you've said you never paintball of the office,
Speaker 1: but what was the closest thing.
Speaker 2: I know you're not going to believe this, but I
Speaker 2: really didn't watch a lot of them, only because it
Speaker 2: gave me such anxiety. I was trying to build a business.
Speaker 2: We were the smallest player. When people didn't play fairly
Speaker 2: with us in the sandbox. I didn't put up with
Speaker 2: that that much, even though we weren't the biggest player.
Speaker 2: So I was aggressive, That's all I'll say.
Speaker 3: Super Agent and Endeavor CEO Ari Emmanuel is one of
Speaker 3: Hollywood's biggest powerbrokers and has built a reputation for saying
Speaker 3: what he thinks and getting what he wants.
Speaker 2: Over the past four decades, the.
Speaker 3: Straight talking deal maker has built a multi billion dollar
Speaker 3: empire with its tentacles in every corner of the entertainment industry,
Speaker 3: including fashion, TV, live events, sports, and the arts.
Speaker 1: Full disclosure.
Speaker 3: I've been a client of Endeavors for fifteen years. This
Speaker 3: unique business model has placed Endeavor at all sides of
Speaker 3: the negotiating table, re envisioning what it means to be
Speaker 3: a leading player in the entertainment industry.
Speaker 2: I always thought that live sports and television, that there
Speaker 2: was going to be more distribution, and content was going
Speaker 2: to be more valuable, and brands were going to become
Speaker 2: more valuable. It's proven to be true.
Speaker 3: Emmanuel's career is a series of big, risky bets on
Speaker 3: the future of content and distribution, and more recently, he
Speaker 3: made what may be the biggest bet yet. In twenty
Speaker 3: twenty three, he snapped up WWE and merged it with
Speaker 3: the UFC to form a combat sports juggernaut. Tko I
Speaker 3: talked to the media mogul about his gamble on fight entertainment,
Speaker 3: the shifting landscape of TV in Hollywood, and what's next
Speaker 3: for his company as it prepares to go private. Joining
Speaker 3: me on this edition of the Circuit, endevor CEO Ari, Emmanuel.
Speaker 1: Ari, thank you so much for joining us. It's great
Speaker 1: to have you.
Speaker 2: Nice to be here.
Speaker 1: We started off in the Mailroom, which is a write
Speaker 1: of passage for talent agents? Was the goal always media
Speaker 1: mogul or did it surprise you?
Speaker 2: Well, I actually was talking to one of my sons
Speaker 2: about this. I was making fifteen cents a mile in
Speaker 2: the mailroom, and before I got out to Los Angeles,
Speaker 2: I was living in New York working for a gentlem
Speaker 2: with my name of Robbie Lance. And you'd read about
Speaker 2: people out in LA and whether it be Mike Ovitz
Speaker 2: or David Geffen, and I was always intrigued. Came out,
Speaker 2: went into the mailroom CIA and learned the business, and
Speaker 2: I just loved it, even though it was difficult, and
Speaker 2: so I didn't really think about where it was going.
Speaker 2: I just went and just kept them going straight and
Speaker 2: kept then doing what I do, whatever that is, and
Speaker 2: it just things happened, and so I have a lot
Speaker 2: more plans now, but back then it was just like
Speaker 2: I want to be my own boss. I want to
Speaker 2: do this thing. And one thing led to another. There's
Speaker 2: a famous line that David Geffen says, just get in
Speaker 2: traffic and get hit. So that's what happened.
Speaker 1: When you look back on your upbringing, and I know
Speaker 1: you have so many crazy stories about growing up, so
Speaker 1: many fun stories. Is there like one secret thing? What
Speaker 1: is the thing that made you you?
Speaker 2: My parents gave me a great upbringing. They enabled us
Speaker 2: to make mistakes, they enabled us to be curious, They
Speaker 2: didn't program us all day long, and then as you
Speaker 2: went out, you kind of then picked up your own
Speaker 2: skills and built on the foundation that they gave you.
Speaker 2: So I don't think that there's one thing. But you
Speaker 2: have to work hard, you have to be curious, you
Speaker 2: have to have endurance, emotional endurance, and those are just
Speaker 2: things that take time. Hopefully I'm doing it with my kids.
Speaker 2: But curiosity and those things I said are kind of
Speaker 2: the secret sauces that if you talk to people and
Speaker 2: everybody puts their own little spin on it, are required
Speaker 2: for somebody to be successful.
Speaker 1: So over the years, you've represented the biggest names Oprah, Scorsese, Charlie's,
Speaker 1: the Rock Trump. I'm a client as well. How did
Speaker 1: repping these big name clients day in and day out
Speaker 1: prepare you for the sort of high stakes game of
Speaker 1: running endeavor?
Speaker 2: I will say the representation business gives you great skills
Speaker 2: about how to talk to people, understanding the nuances underneath
Speaker 2: certain things that are going on. And I think that's Hollywood.
Speaker 2: And then when you start raising money in the private sector,
Speaker 2: then when you go public, you're just using those skill
Speaker 2: sets that you learned in those original stages for those stages.
Speaker 2: So I learned over time. I was not perfect at
Speaker 2: the beginning, but you know, I'm pretty candid with people.
Speaker 2: I'm not a wallflower. I just kind of act the
Speaker 2: way I want to act. I think I'm a pretty
Speaker 2: honest guy. I'm pretty upfront guy. Sometimes that steers people,
Speaker 2: they get a little ruffled, but that's kind of how
Speaker 2: I operated the business, and that's how I've operated both businesses.
Speaker 2: And when you're trying to build a business, you have
Speaker 2: to be pretty intense. When you're trying to break things
Speaker 2: up and kind of create new businesses, you have to
Speaker 2: be pretty forceful and not get deterred if you have
Speaker 2: a vision for it. You know, those are things that
Speaker 2: you need to do when you're putting projects together for
Speaker 2: clients or trying to sign a client. And so I
Speaker 2: just use those skill sets that I had as an
Speaker 2: agent and move them over. Difference from when you're a
Speaker 2: television agent because you have to put things together to
Speaker 2: being a talent agent or a director's agent because then
Speaker 2: the projects are coming to you most of the time,
Speaker 2: and you're kind of choosing as opposed to putting projects together.
Speaker 1: You're a power broker now in sports and entertainment and
Speaker 1: media and art. How do you decide when to up
Speaker 1: the annie go all in versus let the chips fall.
Speaker 2: Well, here's the perfect example. We had just bought the UFC.
Speaker 2: I think our investors were nervous about what we were
Speaker 2: spending on this building. The first day I walked around,
Speaker 2: they took me to the far end of this building
Speaker 2: and I saw a building across the way. Now we
Speaker 2: were figuring out where we're going to put bathrooms here?
Speaker 2: Can we cut back, where can we save money? And
Speaker 2: I said to everybody, well, we have to buy that building.
Speaker 2: And I think everybody freaked out. And I said, I
Speaker 2: want to put the second camp there, as we have
Speaker 2: the first camp here. I don't want Dana traveling all
Speaker 2: over the place for the Contender series and the Ultimate Fighter.
Speaker 2: I wanted house in one place. That took about a
Speaker 2: year of negotiation and everybody trying to convince me not
Speaker 2: to do it, and thank god we did it because
Speaker 2: it saved us during COVID. Now did it completely pencil out. No,
Speaker 2: but did it not? It was right on the edge. Yeah,
Speaker 2: people thought I was crazy and so, but we did it.
Speaker 1: You're the inspiration for Ari Gold. I was a super
Speaker 1: agent and entourage. I know you've said you never paintballed
Speaker 1: the office, But what was the closest thing.
Speaker 2: I know you're not going to believe this, but I
Speaker 2: really didn't watch a lot of them, only because it
Speaker 2: gave me such anxiety. But I was back then really crazy,
Speaker 2: So I think the whole thing of me being a
Speaker 2: little crazy, I didn't make a call during any marriage counseling.
Speaker 2: I saw that episode.
Speaker 1: You didn't slap anyone across the.
Speaker 2: Fame, No, I didn't do that. So I didn't watch
Speaker 2: a lot of it to tell you exactly, Oh, that
Speaker 2: one was real. I mean they did ask me certain
Speaker 2: stories at the beginning of seasons, and I told them
Speaker 2: how they ended up. I don't know.
Speaker 1: Yeah, Well, what's one crazy thing you did that you'd
Speaker 1: be willing to.
Speaker 2: Share in my real life?
Speaker 1: In your real life, I want the real Ari.
Speaker 2: You're going to have to ask other people for that,
Speaker 2: because I actually don't remember. I was crazy. I was,
Speaker 2: you know, I was. I was trying to build a business.
Speaker 2: Back then, there was ICM, there's really Morris or Cia,
Speaker 2: there was Uta, and there was us. We were the
Speaker 2: smallest player. You didn't fight over price, and so I
Speaker 2: didn't let a lot of things when people didn't play
Speaker 2: fairly with us in the sandbox. I didn't put up
Speaker 2: with that that much, even though we weren't the biggest player.
Speaker 2: So other people can probably say things that I was.
Speaker 2: I mean, I was aggressive, that's all I'll say.
Speaker 1: You started the agency above a burger joint with a
Speaker 1: few colleagues in Beverly Hill, and you went on to
Speaker 1: just build and build and build this empire by dozens
Speaker 1: and dozens of properties. Now, as part of this go
Speaker 1: private deal, you have to sell some stuff. So give
Speaker 1: us a sense of the strategizing that's happening, because you
Speaker 1: are always playing a long game. What will Endeavor be
Speaker 1: when this is all said and done.
Speaker 2: All the businesses, whether it be TKO, whether it be Endeavor,
Speaker 2: and all the assets and are great businesses. What remains
Speaker 2: doesn't remain will play itself out over the next couple
Speaker 2: of years. I guess I don't really know the timeframe,
Speaker 2: and so whatever is left I'm going to be around
Speaker 2: for whatever doesn't, I'll probably be really sad.
Speaker 1: Why didn't Endeavor work as a public company.
Speaker 2: There's no straight line to success that doesn't happen, and
Speaker 2: in every situation you're always learning something. The one thing
Speaker 2: I did learn at the beginning of Endeavor, Wall Street
Speaker 2: wants a clean, easy story conversation. I don't think they understood,
Speaker 2: and I didn't do a good job of explaining the
Speaker 2: story of what Endeavor was, as how it touched all
Speaker 2: aspects of entertainment, and so TKO is now really clean story.
Speaker 2: There's sports entertainment, and now Endeavor will be what it's
Speaker 2: going to be.
Speaker 1: When you bought the UFC, people said you were crazy. Right,
Speaker 1: the value has since tripled. Right, What do you say
Speaker 1: to those people now?
Speaker 2: Oh, I don't really care what those people say. I
Speaker 2: really don't. I always thought that sports and television, that
Speaker 2: there was going to be more distribution and content was
Speaker 2: going to be more valuable, and brands were going to
Speaker 2: become more valuable. It's proven to be true. There was
Speaker 2: a lot of tough times because when we had to
Speaker 2: make our new deal, Fox sold themselves to Disney. They
Speaker 2: were not open for a while at and t he
Speaker 2: was trying to buy Warner Brothers. That got held up
Speaker 2: and we were stuck, and so there was nine months
Speaker 2: of like really emotionally physical tough times like yeah, but
Speaker 2: then you know, it kind of came to fruition that
Speaker 2: we the deal we did with ESPN and they've been incredible,
Speaker 2: and so I feel really good about where we are now.
Speaker 2: I feel really good about where we are with the
Speaker 2: WWE and that situation and what's happened there and where
Speaker 2: that whole TKO is going. I try to teach my
Speaker 2: kids this. I tried to teach the employees that it's
Speaker 2: about not how many punches you can throw, It's about
Speaker 2: how many punches you can take, and it's about you know,
Speaker 2: even though you love something, it's tough, and endurance is
Speaker 2: an important quality for anybody now running a public company,
Speaker 2: starting a business. And so I've built my endurance up.
Speaker 1: You've brought the UFCNWW together now in this massive twenty
Speaker 1: one billion dollar deal. What's the vision and how does
Speaker 1: it all fit together? With a talent agency.
Speaker 2: So TKO is live Sports, the whole league fifty two
Speaker 2: weeks a year, pure play, the representation business at EDR
Speaker 2: is all the other assets that had already existed before
Speaker 2: we pulled the UFC out, and that is the representation business.
Speaker 1: So they don't necessarily need to work together.
Speaker 2: No, they do. There's things that we do do, but
Speaker 2: that does what it does and TKO does what it does,
Speaker 2: and so it's clean and so easier for the street
Speaker 2: to understand it on the TCO side. And so that's
Speaker 2: kind of the two businesses.
Speaker 1: So on the TKO side, you're kind of running fight club.
Speaker 1: How do you feel about that.
Speaker 2: I don't think it's a fight club. I remember watching
Speaker 2: the WWE when I was WWF actually when I was young.
Speaker 2: Paul's done an amazing job at the WWE with Rossmackdown,
Speaker 2: Ples and xt And UFC is a sport that Dana
Speaker 2: created over thirty years ago, didn't exist his vision. It's
Speaker 2: now a global sport. You don't really have to explain
Speaker 2: the rules of the UFC to anybody in the world.
Speaker 2: And we'll grow more sports out of the UFC, more
Speaker 2: sports like what. I don't know, you know, I don't
Speaker 2: know the sports that are out there right now that
Speaker 2: we would do. These two are occupying a lot of time.
Speaker 2: But if you could create the UFC, I'm assuming there's
Speaker 2: other things that we can create and kind of get into.
Speaker 2: There's nothing on the horizon right now. This is enough
Speaker 2: for us to do right now. If we do what
Speaker 2: we do, and I think we're executing really really well.
Speaker 1: Settled a massive anti trust deal brought by UFC fighters,
Speaker 1: you're on the hook for three hundred and fifty million
Speaker 1: dollars in settlements. UFC fighters, I believe, get like twenty
Speaker 1: percent of league revenue, and for the NFL and the
Speaker 1: NBA baseball it's more like fifty percent. Good things change.
Speaker 2: Here's what I would say to you is, you know,
Speaker 2: if you look at our how much we've increased at
Speaker 2: fighter pay plus all the services we provide with whether
Speaker 2: you're here at the PI, at the performance institute, healthcare, food,
Speaker 2: et cetera. We're not like team sports, so we are
Speaker 2: individual sports. I mean individual fighters. There's no team sports
Speaker 2: like the NBA or baseball, So there's a difference if
Speaker 2: you comp us to those sports or on power or above.
Speaker 1: Some of these guys don't have the best reputations. There
Speaker 1: have been some serious allegations. There's this element that outsiders
Speaker 1: see of a sort of hyper masculine culture. Do you
Speaker 1: want to evolve any of this.
Speaker 2: There's always been a fight game. Every sport has had
Speaker 2: difficulty with their athletes. Nobody's perfect. There's some athletes that
Speaker 2: are great. In team sports, we have incredible fighters. If
Speaker 2: you want to go through every sport and every fighter
Speaker 2: or every football player or every basketball and things that
Speaker 2: have gone wrong, that's not what I do for a living.
Speaker 2: I think all in all, our fighters are really good.
Speaker 2: People have families, want to feed them. This is support
Speaker 2: they chosen.
Speaker 1: Dana White Heat of UFC, Vince McMahon form our CEO
Speaker 1: of WWE. How do you approach working with such colorful
Speaker 1: and controversial characters.
Speaker 2: Well, the good thing is I had a long relationship
Speaker 2: with both guys on the representation side, and when you
Speaker 2: have guys that are visionaries and take whatever comes through
Speaker 2: on the cases. With Vince McMahon, who's no longer at
Speaker 2: the company, they understand kind of the heartbeat. And now
Speaker 2: Paul Triple H is running that he's been a superstar.
Speaker 2: He understands the stories. He's created incredible storylines for us.
Speaker 2: You guys have to give them everything they need to
Speaker 2: do what they need to do, and then do all
Speaker 2: the business stuff around them and make sure that they're
Speaker 2: supported as much as they need to be supported. And
Speaker 2: if you do that, you get greatness. The skills I've
Speaker 2: learned maybe at the talent agency side have helped, but
Speaker 2: now we're partners. And so that's how I look at it.
Speaker 2: You just have to let the talent and they get
Speaker 2: those guys are talent, do what they do, and support
Speaker 2: them with all the things that they need.
Speaker 1: President Trump made his first public appearance at a UFC match.
Speaker 1: This was after being convicted, and he shows up at
Speaker 1: UFC matches quite often. Is the UFC now part of
Speaker 1: the culture war?
Speaker 2: Here's what I say to you. He was the first
Speaker 2: person to help the UFC way back in the day
Speaker 2: with Dana. He is the first person to enable them
Speaker 2: to put on a match. And Dana said this, and
Speaker 2: he stayed the whole time. And the one thing and
Speaker 2: the great thing about is he's a very loyal friend.
Speaker 2: He's been loyal to me. I've been loyal to him.
Speaker 2: He's been loyal to the President. The President has been
Speaker 2: loyal to him. And again, Dane is the head of
Speaker 2: the UFC. He gets to make those decisions. I think
Speaker 2: Dane is just a loyal friend that this guy enabled
Speaker 2: this sport to start. So there you go.
Speaker 1: You signed a multi year, multi billion dollar deal with
Speaker 1: Netflix to stream WWW. How big is the Netflix lift
Speaker 1: going to be for wrestling and how big will live
Speaker 1: events be for Netflix?
Speaker 2: You can see that Netflix wants to be in the
Speaker 2: live sports business in live period. They've done it with
Speaker 2: stand ups, etc. Ros. They now have two NFL games,
Speaker 2: they have US, so live I think is a crucial
Speaker 2: play for them and where they want to go with
Speaker 2: advertising in their AVOD service. And for us, you're with
Speaker 2: the biggest streamer in the world over the last twenty
Speaker 2: four years that I've been in involved with the WWE,
Speaker 2: when it was on Spike and we moved to USA
Speaker 2: and then we moved back to Spike and the fans follow,
Speaker 2: So they'll follow, I think, to Netflix and that will
Speaker 2: be great for Netflix. There's a huge chunk of the
Speaker 2: audience that are ww fans that are not right now
Speaker 2: based on our research, Netflix subscribers, and if they capture
Speaker 2: a portion of those, it's a huge win for them
Speaker 2: and a huge win for US.
Speaker 1: Big tech is coming for sports. I mean it's not
Speaker 1: just Netflix but Amazon and YouTube. Do you see a
Speaker 1: permanent shiftier in sports rights from cable and traditional networks
Speaker 1: to streams.
Speaker 2: Well, I think you're going to have a mix. So
Speaker 2: the NFL made a ten year deal the ability to
Speaker 2: cut back after seven. I think you'll see with the
Speaker 2: new NBA deal, you'll see a linear play plus a
Speaker 2: streaming play, and if it ends up at Comcast Warner
Speaker 2: Brothers or Disney or Comcast Disney and Amazon, there's going
Speaker 2: to be a mix that all of us that are
Speaker 2: in live sports do.
Speaker 1: The UFC's deal with ESPN is coming up. You were
Speaker 1: pictured cage side with Netflix co CEO Ted Sarandos. Is
Speaker 1: it coming to Netflix?
Speaker 2: No? No, I mean listen. ESPN has been an incredible partner.
Speaker 2: First quarter. We'll see of next year, that's when we
Speaker 2: first when we can start. We would love to be
Speaker 2: back at ESPN. They have been incredible to us. Bob
Speaker 2: Iger has been incredible, Jimmy's been incredible. So we'll start
Speaker 2: then and move forward from there.
Speaker 1: What about a splintered broadcast deal like the NFL's on
Speaker 1: multiple platforms. Could that work?
Speaker 2: The difference is they have games on Thursdays, Sundays, Monday night.
Speaker 2: We have a Saturday night viewing habit, so it's a
Speaker 2: one night affair. I don't think a breakup probably is
Speaker 2: in the cards. It will be with one place my
Speaker 2: sense of it. Could you see see it possibly with
Speaker 2: the pay per views? I don't, but I don't. I mean,
Speaker 2: I don't know the end result yet.
Speaker 1: You rep. Tyler Perry, who put an eight hundred million
Speaker 1: dollar expansion of his studio on hold because of AI.
Speaker 1: Just how dramatically is AI going to reshape entertainment and
Speaker 1: will there still be superstars?
Speaker 2: So I think he put a pause on it just
Speaker 2: to see where the world's going. He's got an unbelievable studio.
Speaker 2: I don't think right now. If you look at AI
Speaker 2: actually the physical energy required to make movies and TV
Speaker 2: shows at the length quality you need, you're going to
Speaker 2: need a lot of power. Is that two years away,
Speaker 2: three years away, five years away. I don't know, but
Speaker 2: it's coming, and I think it's There's going to be
Speaker 2: some dislocation there with people and services, whether it be
Speaker 2: custom designers, makeup, artics, et cetera. Remember AI is ones
Speaker 2: and zeros. You're still going to need creative people. You're
Speaker 2: still going to need act There's going to be dislocation,
Speaker 2: but people that create IP I think you're still going
Speaker 2: to need and so as things progress, that will happen.
Speaker 2: As relates to breaking new stars, one of the most
Speaker 2: important things I think for that is the movie business.
Speaker 2: And I do think the movie business is coming back.
Speaker 1: I was going to ask and movie is going to
Speaker 1: stick around.
Speaker 2: I mean, if you think about the world and you
Speaker 2: just said AI and COVID happened, and we're kind of
Speaker 2: now at four day work weeks. So the weekend starts
Speaker 2: Thursday night. If you talk to Blackstone or other people,
Speaker 2: offices are not as filled on Fridays. So if the
Speaker 2: weekend starts Thursday, that means there's a third more revenue
Speaker 2: that people have to do something Thursday night. Some people
Speaker 2: stay home, but some people will go out. And so
Speaker 2: one of the things activities I think they're going to
Speaker 2: do is go to the movies. And you see a
Speaker 2: bunch of movies now starting to work in the summer.
Speaker 2: So I think the movie business canna be fine. There's
Speaker 2: gonna be a lot of other things that have to
Speaker 2: happen in the world, and so that's my sense of
Speaker 2: how ai is can affect stuff that then in a
Speaker 2: positive way, it is going to affect our business in
Speaker 2: the entertainment world.
Speaker 1: There's strong anxiety and discontent in Hollywood that people aren't
Speaker 1: spending like they used to. Is this seasonal or is
Speaker 1: this the end of something?
Speaker 2: Well, I don't really feel that if you just step back,
Speaker 2: you're in a little bit of a dislocation with the
Speaker 2: traditional guys that have moved into streaming. So, as we
Speaker 2: talked about, you have the linear business, whether it be
Speaker 2: cable or broadcast, really going down. They're having to transition
Speaker 2: to streaming. You have the three streaming guys continuing to
Speaker 2: do what they do, the four players in the streaming
Speaker 2: wars on the traditional guys that have moved into Warner Ours, Comcast, Disney,
Speaker 2: and now Paramount have got to make the adjustment that
Speaker 2: takes time. They're getting beaten up because they're making the adjustment.
Speaker 2: If they would stay where they were over the long term,
Speaker 2: that would be a problem for them. And so over
Speaker 2: time this is all going to work itself out. You're
Speaker 2: probably in to two year kind of down period. But
Speaker 2: they also realize that if they don't have new content,
Speaker 2: whether it be sports on their ab outside or movies
Speaker 2: and television nonscripted, that they're not going to build their
Speaker 2: services that they need for the future.
Speaker 1: More and more celebrities are launching their own businesses and
Speaker 1: doing side hustles, more endorsements. What's it going to take
Speaker 1: to be a real player in this new world?
Speaker 2: I think it's both. You're sitting in a situation where, Okay,
Speaker 2: we just talked about linear and that not a lot
Speaker 2: of people are watching. So brands have got to figure
Speaker 2: out a way to through stars. It used to be
Speaker 2: they did commercials on television. Now they need their social
Speaker 2: followings at the high end. So there's going to be
Speaker 2: places for commercials and sponsorships, but then there's going to
Speaker 2: be places for stars to own stuff and break new
Speaker 2: stuff just based on their awareness on social and that's
Speaker 2: the same thing true with social stars. So it's just
Speaker 2: an evolution of kind of the environmental effect that's happening
Speaker 2: on the linear side.
Speaker 1: Do you ever look at your career and look at
Speaker 1: it as one sort of big, long, ultimate fight.
Speaker 2: I don't look at as a fight. I just it's
Speaker 2: kind of funny. I'm not a rear view mirror kind
Speaker 2: of guy. I'm just right now doing what I do.
Speaker 2: Whatever happens based on thoughts and research and studying what
Speaker 2: the next thing will be. It will be. I don't
Speaker 2: really contemplate it that much. I'm not nervous about, oh
Speaker 2: did they do this right? Or you know what happened here?
Speaker 2: I don't do that.
Speaker 1: What's the best piece of advice you've ever received? And
Speaker 1: the biggest piece of BS I.
Speaker 2: Was always working. I mean I was working all the
Speaker 2: time and through a lot of work on myself life.
Speaker 2: You know, I went through a tough time in the
Speaker 2: renegotiation health for the UFC, came out of it, worked
Speaker 2: on myself a lot. Jeff Bezo said to me, he
Speaker 2: gave me a great thought. He said, when you're on
Speaker 2: the field, be on the field. When you're in work,
Speaker 2: do it. When you're not on the field, don't be
Speaker 2: on the field. And it used to be in my
Speaker 2: life and you couldn't do this, You couldn't keep this pace.
Speaker 2: I was always playing chess in every situation. One it
Speaker 2: wasn't enjoyable. I didn't want to live my life like that.
Speaker 2: And two it was exhausting. That's not joyful. And so
Speaker 2: that was an incredible piece of advice and it has helped.
Speaker 2: I'm not perfect at that yet, but I'm getting a
Speaker 2: lot better.
Speaker 1: How long do you want to keep doing this. I mean,
Speaker 1: you're healthier than most twenty five year olds.
Speaker 2: Well, here's what I would say to you is, I'm
Speaker 2: still enjoying it. I love my life. I'm lucky, I'm privileged.
Speaker 2: I've worked really hard for it. And if I'm still happy,
Speaker 2: it's still giving me curiosity and I still feel the
Speaker 2: energy to do what I'm doing. I'll be doing it.
Speaker 2: The minute that it's not, i won't be doing it.
Speaker 2: And the people that are working with me are incredible.
Speaker 2: So I don't think there's anybody better than Mark Shapiro,
Speaker 2: Andrew Schleimer, Richard Wis, and Christian I could go through
Speaker 2: all the executives we have at this company, and they
Speaker 2: have stepped up, and so it makes my life a
Speaker 2: lot easier to do the things that I like to do.
Speaker 2: And if that continues, I'll be around. In the minute
Speaker 2: they want me out, I'll be out.
Speaker 1: Thanks so much for listening to this episode of the Circuit.
Speaker 3: Please watch the full episode for a closer look at
Speaker 3: how Ari Emanuel built his sports and entertainment empire. I'm
Speaker 3: Emily Chang. Follow me on Twitter and Instagram at Emily
Speaker 3: Chang TV. You can watch new episodes of the Circuit
Speaker 3: on Bloomberg Television on demand by downloading the Bloomberg app
Speaker 3: to your smart tv or on YouTube, and check out
Speaker 3: other Bloomberg podcasts on Apple Podcasts, Spotify, or wherever you lose.
Speaker 3: Listen to your shows and let us know what you
Speaker 3: think by leaving a review. I'm your host and executive producer.
Speaker 3: Our showrunner is Lauren Ellis. Our producer is aduena Otira.
Speaker 3: Our editor is Alison Casey. See you next time.