WEBVTT - Live from Bloomberg Screentime in Los Angeles

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<v Speaker 1>This is Bloomberg Business Wait inside from the reporters and

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<v Speaker 1>editors who bring you America's most trusted business magazine, plus

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<v Speaker 1>global business, finance and tech news. The Bloomberg Business Week

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<v Speaker 1>Podcast with Carol Messer and Tim Stenebeck from Bloomberg Radio.

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<v Speaker 2>All right, everybody, we have a great guest if you

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<v Speaker 2>come out to LA Yes, it's so much about the

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<v Speaker 2>content business, the studios and all the good stuff like that.

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<v Speaker 2>But you know, it's also known for some iconic sports

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<v Speaker 2>teams La Lakers, La Dodgers, La Rams, just to name

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<v Speaker 2>a few sports too. Is such a muse in terms

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<v Speaker 2>of creating content here in the United States and really globally.

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<v Speaker 2>And our next guest knows a lot about that. She's

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<v Speaker 2>part of the La Rams Inner Circle. She was in

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<v Speaker 2>an earlier session here at screen Time. It was called

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<v Speaker 2>perfecting your Partnership Strategy in the world of So I

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<v Speaker 2>got to.

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<v Speaker 3>Catch a little bit of it.

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<v Speaker 4>You did.

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<v Speaker 3>It was great. Good to have you with us this afternoon.

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<v Speaker 3>Jennifer Prince. She's chief Commercial officer for the La Rams.

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<v Speaker 3>She's on site here at Bloomberg screen Time in La

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<v Speaker 3>all about commercializing La Ram's content business, helping connect the

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<v Speaker 3>NFL team to a larger media landscape of social media,

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<v Speaker 3>TV and film. How are you?

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<v Speaker 5>I'm great, Thank you for having me.

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<v Speaker 3>I was the session. It seemed like it went really well.

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<v Speaker 5>It was very dynamic, It went well, and it possibly

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<v Speaker 5>could have gone on another thirty minutes.

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<v Speaker 2>I always feel like all of these, right, they're just

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<v Speaker 2>such great discussions, and I think about the sports world generally,

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<v Speaker 2>it is such a great no joke, It is such

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<v Speaker 2>a great news in terms of creating content. How do

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<v Speaker 2>you think about it. You've got players, You've got teams,

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<v Speaker 2>You've got lots of stuff going on.

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<v Speaker 4>Yeah.

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<v Speaker 5>So, sitting in the center of LA we have an

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<v Speaker 5>incredible team, an incredible brand. This brand is global. We

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<v Speaker 5>have fans everywhere, and we get to play in Sofi Stadium,

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<v Speaker 5>which is a beautiful meca of what sports and entertainment

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<v Speaker 5>and technology and that intersection is. And so we get

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<v Speaker 5>to really lean into all of the assets, from the

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<v Speaker 5>football players to the team, to our coach, everything on

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<v Speaker 5>the field to them. Thinking about our brand and the

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<v Speaker 5>way that we present ourselves and how we work with

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<v Speaker 5>partners to reach our fans, our future fans, and really

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<v Speaker 5>creating this intersection.

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<v Speaker 2>What's the thing that really moves the needle. That's something happens,

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<v Speaker 2>you post something you know, and it's just like it

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<v Speaker 2>just blows up.

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<v Speaker 4>Yeah.

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<v Speaker 5>So football first, right, anything.

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<v Speaker 2>Football from the game or any of it.

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<v Speaker 5>Any highlight, any moment not only on the field, but

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<v Speaker 5>also the arrivals and the you know, the talks with

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<v Speaker 5>coach after the game, all of it, it all, you know,

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<v Speaker 5>resonates with fans and it gives access. And so that

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<v Speaker 5>access point is really what does well our fans, even naysayers,

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<v Speaker 5>like to hear what coach has to say, whether we

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<v Speaker 5>win or lose, and how he motivates the team and

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<v Speaker 5>keeps the team moving. So I would say, like the football.

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<v Speaker 3>First, Silly me, I thought she was going to say

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<v Speaker 3>Taylor Swift So well, how much? So we have to

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<v Speaker 3>ask how can we be out Let's.

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<v Speaker 2>Be real, like were you guys? Can we have our

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<v Speaker 2>Taylor Swift moment? Like was it frustrating a little bit?

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<v Speaker 2>Or like oh my god? Because so much attention right

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<v Speaker 2>has been on you know, tailor or trailer as they

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<v Speaker 2>call it.

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<v Speaker 4>So how do you think about that?

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<v Speaker 5>Yeah, so, really the NFL is having a moment right

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<v Speaker 5>when you think about the fan base and everyone who

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<v Speaker 5>rallies around football, and then you think about that future

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<v Speaker 5>fan and you think of that younger female demo and

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<v Speaker 5>how to reach them. I mean, this is a moment

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<v Speaker 5>and it's not like Travis Kelsey needed any help. He

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<v Speaker 5>will be a Hall of Famer. He's incredible on the field.

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<v Speaker 5>But the two of them together, it's a phenomenon. It's

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<v Speaker 5>something that is really impacting ratings to Jersey sales.

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<v Speaker 2>Are you guys seeing following? Are you also seeing an

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<v Speaker 2>impact of result?

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<v Speaker 5>I think just the overall consumption and who's watching and

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<v Speaker 5>who's leaning in. We all need to lean into this moment.

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<v Speaker 5>It isn't happening in our team right or within our family,

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<v Speaker 5>but we still get to capitalize on what it means

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<v Speaker 5>for this fan base to be so ripe and present

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<v Speaker 5>at this time, Which are young females.

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<v Speaker 2>Are you telling a member of the team like, hey,

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<v Speaker 2>you know there's a popular singer.

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<v Speaker 3>That's like she's well, I think about he's not available?

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<v Speaker 4>Do you know what?

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<v Speaker 2>I think about the old Hollywood studio system, right, and

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<v Speaker 2>they would link actors and actresses together just so that

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<v Speaker 2>their pictures showed up, just to create some momentum. I know,

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<v Speaker 2>I know, I know who's saying right.

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<v Speaker 6>We don't know?

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<v Speaker 3>Well, you know. It brings up an interesting point about

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<v Speaker 3>the presence on social media that these players have even

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<v Speaker 3>before potentially signing with a pro team. How do you

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<v Speaker 3>work with the players who have this direct connection to

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<v Speaker 3>make sure that, look, what they're posting is something that

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<v Speaker 3>aligns with your own values.

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<v Speaker 5>Yeah, so listen, I've spent nine years at Twitter years

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<v Speaker 5>ago to come, and so everyone has a personal life,

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<v Speaker 5>Everyone has a point of view, and those who are

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<v Speaker 5>notable can use their voice and carry their voice in

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<v Speaker 5>all the right ways and also can make some right

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<v Speaker 5>and left turns. It isn't my job specifically to work

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<v Speaker 5>with the players and player marketing. That's our CMO. We

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<v Speaker 5>have teams of people doing that. But we have a

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<v Speaker 5>really great team, I would say have incredible players who

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<v Speaker 5>are not necessarily leaning into things that they shouldn't be

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<v Speaker 5>and we like when they're using their voice that helmet

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<v Speaker 5>off who they are as people going through their journeys,

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<v Speaker 5>their paths. Everyone has a story, so we like for

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<v Speaker 5>them to tell their own story. But it's always something

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<v Speaker 5>just to keep our eye on. But we have those

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<v Speaker 5>who are well behaved.

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<v Speaker 2>I and if not, they probably get reminded to be

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<v Speaker 2>well behaved.

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<v Speaker 4>Don't we all need that occasionally?

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<v Speaker 2>Who is it that you like to take meetings with

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<v Speaker 2>to figure out how do you best, you know, kind

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<v Speaker 2>of leverage your brand.

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<v Speaker 4>Yeah.

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<v Speaker 5>So we have over one hundred partners and we don't

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<v Speaker 5>just want to create volume and scale around these partnerships.

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<v Speaker 5>We like to partner in deep, meaningful ways. We like

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<v Speaker 5>to say we partner with purpose. And so when we're

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<v Speaker 5>talking to brands right the existing brands that.

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<v Speaker 7>We have from Sofi to Toyota and Pepsi to Verizon,

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<v Speaker 7>we have so many incredible brands and usually those want

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<v Speaker 7>to leave it lean into us who are doing sports marketing,

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<v Speaker 7>want to reach a future fan base with us and

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<v Speaker 7>reach our existing fan base in meaningful ways with surprise

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<v Speaker 7>and delights and offers and access.

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<v Speaker 4>Like I talked about, what's.

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<v Speaker 3>The read that you're getting from your partners right now?

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<v Speaker 3>In the economy. We love talking to people like you

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<v Speaker 3>because you see where the money's going. You see how

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<v Speaker 3>much money is going to a certain places. We're not

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<v Speaker 3>going exactly. What is the read on the economy that

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<v Speaker 3>you see from your purchase chief commercial officers?

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<v Speaker 5>Yeah, so you know, we have the benefit of sitting

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<v Speaker 5>in Los Angeles and we are working typically with not

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<v Speaker 5>only heads of marketing, but those in the region who

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<v Speaker 5>are looking to increase sales produce outcomes with us. So

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<v Speaker 5>we like that we are a bridge and a conduit

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<v Speaker 5>to providing outcomes. So it's not just the upper funnel

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<v Speaker 5>fun stuff in terms of marketing with brands. It's also

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<v Speaker 5>getting down to metrics and measurements. So coming from a

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<v Speaker 5>world that was highly measured, I ensure that my team

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<v Speaker 5>has all the right partnerships in place with vendors so

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<v Speaker 5>that we can provide outcomes. And so when we hear

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<v Speaker 5>from a brand that they're doing incredibly well with us,

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<v Speaker 5>we dig into that what does that mean? And we

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<v Speaker 5>want to make sure that we're marching with our brands

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<v Speaker 5>to the outcome.

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<v Speaker 2>So anybody pulling back though because of the economics.

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<v Speaker 5>So you know what there are I was going to say,

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<v Speaker 5>so the few categories right that are having a harder

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<v Speaker 5>time is whether it's crypto or some mortgage finance interest rates,

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<v Speaker 5>Like the things that are present right now that you're

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<v Speaker 5>more familiar with. Those are the categories who are at

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<v Speaker 5>times having to either readjust or realign, commit, but commit

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<v Speaker 5>in different ways and at different levels.

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<v Speaker 2>All Right, you're in an elevator with somebody really matters

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<v Speaker 2>more important than us, and they said, give me thirty

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<v Speaker 2>five forty seconds on Twitter?

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<v Speaker 4>You know Twitter, this company? What do you say?

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<v Speaker 3>You were there for eight years? Vice president? Don't eat

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<v Speaker 3>up her time on content partnerships? What is it?

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<v Speaker 4>Eat up time time?

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<v Speaker 8>Listen?

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<v Speaker 5>I worked at Twitter. We were priding ourselves on being

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<v Speaker 5>this megaphone to the world and really where public conversation

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<v Speaker 5>could happen. We did all the right things. I left

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<v Speaker 5>December of twenty one, a long time ago. What Twitter

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<v Speaker 5>is now, it's just take going on to be x.

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<v Speaker 5>It has a little different meaning the way that they're

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<v Speaker 5>leaning into product innovation and no comment really other than

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<v Speaker 5>I had incredible years there and miss those that I

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<v Speaker 5>worked with.

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<v Speaker 3>Do you still use it?

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<v Speaker 6>I do.

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<v Speaker 5>I'm not posting as much or tweeting, or it's not tweeting,

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<v Speaker 5>it's posting coming and so I'm but I'm consuming for

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<v Speaker 5>sport more than I'm talking about myself.

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<v Speaker 2>Yeah, it's a different world me too. I found myself

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<v Speaker 2>backing up. What a pleasure, Thank you so much, So enjoyed.

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<v Speaker 2>I shit you Jennifer Prince. She's chief commercial officer for

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<v Speaker 2>the La Rams. On site at Bloomberg screen Time in

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<v Speaker 2>Los Angeles, I have Carol Masser along with Tim's Stanevik.

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<v Speaker 2>Don't go anywhere More to come from screen Time Here

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<v Speaker 2>on the West.

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<v Speaker 1>Coast, you're listening to the Bloomberg Business Week podcast. Catch

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<v Speaker 1>us live weekday afternoons from three to six Eastern Listen

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<v Speaker 4>You know, going viral can be good or it can

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<v Speaker 4>be bad.

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<v Speaker 3>I feel like it's more often bad and good.

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<v Speaker 2>Well, anyway, a discussion here at screen Time was kind

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<v Speaker 2>of all about this. It was entitled Viral Lessons, and

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<v Speaker 2>it included top creators of social content. We have one

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<v Speaker 2>of them with us, Drew A. F Walow is TikTok,

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<v Speaker 2>creator and host of the comment section. Welcome, Welcome, and

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<v Speaker 2>thank you for joining us.

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<v Speaker 6>Thank you so much for having me. I'm excited to

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<v Speaker 6>be here.

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<v Speaker 4>We are excited to have you here.

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<v Speaker 2>And it is right viral, Like you know, it can

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<v Speaker 2>be such a great thing and then it can be rough.

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<v Speaker 4>How do you think about it?

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<v Speaker 2>Do you ever think about when you're doing something like,

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<v Speaker 2>all right, I'm gonna get a.

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<v Speaker 9>Lot of craft for this.

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<v Speaker 6>I mean, yeah, for my niche in particular. Absolutely, I

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<v Speaker 6>a lot of feedback.

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<v Speaker 3>Yeah, my feedback is one way to put it.

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<v Speaker 10>Yeah, feedback is definitely one way to put it. I

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<v Speaker 10>built my business off the shoulders of men who hate me,

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<v Speaker 10>so i'd call that a win from women women of color,

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<v Speaker 10>and I think it's been a it's been a real,

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<v Speaker 10>like consistent barrage of hate for so long now that

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<v Speaker 10>I think it's just white noise to me, specifically from

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<v Speaker 10>misogynistic people in general.

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<v Speaker 2>But when you started, what did you think about what

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<v Speaker 2>you wanted to do?

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<v Speaker 10>I mean when I first originally started, I just started

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<v Speaker 10>telling silly stories that made me laugh and made me giggle,

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<v Speaker 10>and so some people started kind of relating to it,

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<v Speaker 10>and then I had one video that really took off,

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<v Speaker 10>and then it kind of just snowballed into this crusade,

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<v Speaker 10>which I'm happy to carry out and I have been.

0:10:21.000 --> 0:10:22.000
<v Speaker 6>For a long time now.

0:10:22.600 --> 0:10:25.600
<v Speaker 10>But yeah, it was never anything I thought was gonna happen,

0:10:25.640 --> 0:10:27.600
<v Speaker 10>although now I'm glad it has.

0:10:27.840 --> 0:10:29.240
<v Speaker 3>So when you when you carry it out, I mean

0:10:29.280 --> 0:10:31.480
<v Speaker 3>it's not without its own challenges. You've been yeah, you've

0:10:31.480 --> 0:10:34.760
<v Speaker 3>been blocked, You've been banned, yourn has been shut down. Absolutely,

0:10:35.080 --> 0:10:36.200
<v Speaker 3>how do you get past those things?

0:10:36.880 --> 0:10:40.120
<v Speaker 10>I mean, I think I just like even when I

0:10:40.160 --> 0:10:42.760
<v Speaker 10>lost my TikTok account four times, I got locked out

0:10:42.760 --> 0:10:44.680
<v Speaker 10>of it, and it was when I was like on

0:10:44.760 --> 0:10:47.959
<v Speaker 10>a real growing like growth spurt, like I was growing

0:10:48.000 --> 0:10:50.960
<v Speaker 10>like one hundred thousand followers every other day, and so

0:10:51.120 --> 0:10:54.800
<v Speaker 10>I got banned twice first, then I got signed, then

0:10:54.800 --> 0:10:55.840
<v Speaker 10>I got banned two more.

0:10:55.720 --> 0:10:56.840
<v Speaker 3>To why why did that happen?

0:10:57.240 --> 0:11:00.439
<v Speaker 10>Mass reporting, which is an issue that I've talked to

0:11:00.480 --> 0:11:03.960
<v Speaker 10>TikTok about too, which helps. It helps to have you know,

0:11:04.040 --> 0:11:06.280
<v Speaker 10>a team. I think me getting a team really helped

0:11:06.280 --> 0:11:06.880
<v Speaker 10>in that you.

0:11:06.840 --> 0:11:08.800
<v Speaker 3>Have like a direct line to TikTok. Now I have

0:11:09.520 --> 0:11:10.000
<v Speaker 3>a rep.

0:11:10.120 --> 0:11:12.560
<v Speaker 10>I think most creators do who are verified, they have

0:11:12.640 --> 0:11:14.679
<v Speaker 10>some sort of contact person that they can reach out

0:11:14.679 --> 0:11:16.720
<v Speaker 10>to if they have any issues at all. And once

0:11:16.760 --> 0:11:18.959
<v Speaker 10>I got my contact person, I think it really kind

0:11:18.960 --> 0:11:23.199
<v Speaker 10>of helped. Also, getting verified helps too, it helps legitimize

0:11:23.240 --> 0:11:24.200
<v Speaker 10>you in the eyes of the app.

0:11:24.200 --> 0:11:25.560
<v Speaker 6>And also true algorithm.

0:11:25.559 --> 0:11:26.920
<v Speaker 2>You know, we're in this era of like trying to

0:11:26.920 --> 0:11:29.400
<v Speaker 2>figure out so much social media out there, and there's misinformation,

0:11:29.559 --> 0:11:33.000
<v Speaker 2>there's really problematic information, there's dangerous information, and yeah, there's

0:11:33.080 --> 0:11:36.280
<v Speaker 2>opinion and entertainment. What do you think is the fine

0:11:36.320 --> 0:11:36.840
<v Speaker 2>line here?

0:11:37.480 --> 0:11:41.880
<v Speaker 10>I mean, I think for my particular niche there is

0:11:42.600 --> 0:11:47.640
<v Speaker 10>really no other side. You see bigotry platformed openly and publicly,

0:11:48.120 --> 0:11:50.760
<v Speaker 10>so I respond to it accordingly. I don't give them

0:11:50.800 --> 0:11:53.000
<v Speaker 10>a chance to defend themselves because I don't really want

0:11:53.000 --> 0:11:56.280
<v Speaker 10>to hear why you feel so bigoted and felt it

0:11:56.320 --> 0:11:59.920
<v Speaker 10>was funny to platform it and perpetuate and uphold all

0:11:59.880 --> 0:12:03.400
<v Speaker 10>these different forms of oppression. I don't need to hear

0:12:03.440 --> 0:12:06.240
<v Speaker 10>the other side because I've seen it for myself. So

0:12:06.600 --> 0:12:10.320
<v Speaker 10>I feel like for my content particular, I like to

0:12:10.400 --> 0:12:14.000
<v Speaker 10>describe mine as like it's a real one way street

0:12:14.000 --> 0:12:16.280
<v Speaker 10>on my platform, Like I see what you say. I

0:12:16.280 --> 0:12:19.040
<v Speaker 10>don't give you a chance to defend yourself. I make

0:12:19.080 --> 0:12:21.679
<v Speaker 10>fun of you publicly, and since we're all joking, let's

0:12:21.679 --> 0:12:22.360
<v Speaker 10>all laugh together.

0:12:22.600 --> 0:12:24.240
<v Speaker 3>I love to laugh, so I guess I guess my

0:12:24.360 --> 0:12:27.600
<v Speaker 3>question is we love to laugh too. Is it working?

0:12:27.840 --> 0:12:29.960
<v Speaker 3>Like I know it's working for you professionally, and you've

0:12:29.960 --> 0:12:32.760
<v Speaker 3>built an amazing following. You're among the people on TikTok

0:12:32.760 --> 0:12:35.120
<v Speaker 3>with the most followers, I mean, what eight million? At

0:12:35.120 --> 0:12:37.640
<v Speaker 3>this point? Is it working to do you think? To

0:12:37.720 --> 0:12:40.800
<v Speaker 3>make the space safer, to make the platform safer. But

0:12:40.920 --> 0:12:42.160
<v Speaker 3>does it deter these guys?

0:12:42.520 --> 0:12:45.840
<v Speaker 10>Yeah to an extent, Yes, for sure. At one point

0:12:45.920 --> 0:12:47.559
<v Speaker 10>I felt like I did too good of a job

0:12:47.600 --> 0:12:50.120
<v Speaker 10>of cleaning up those streets of TikTok because.

0:12:50.000 --> 0:12:51.280
<v Speaker 6>I couldn't find anybody.

0:12:52.080 --> 0:12:56.199
<v Speaker 10>But I don't think it necessarily gets rid of it entirely.

0:12:56.280 --> 0:12:59.040
<v Speaker 10>I don't think that I could never have that kind

0:12:59.080 --> 0:13:01.840
<v Speaker 10>of impact. I think what it does is it instills

0:13:01.880 --> 0:13:05.319
<v Speaker 10>a very real fear that other people who sit lower

0:13:05.360 --> 0:13:08.640
<v Speaker 10>on the oppression ladder experience every single day, not just

0:13:08.720 --> 0:13:11.360
<v Speaker 10>on social media. So they experience that all the time.

0:13:11.400 --> 0:13:14.320
<v Speaker 10>That fear is very real of being attacked. And so

0:13:14.840 --> 0:13:17.360
<v Speaker 10>the men that I choose to stitch have never felt

0:13:17.400 --> 0:13:20.040
<v Speaker 10>that way before. Now it's instilled a fear in them.

0:13:20.360 --> 0:13:22.040
<v Speaker 10>If you do do it, there is a chance I

0:13:22.120 --> 0:13:24.839
<v Speaker 10>will find it and I will talk about it. So

0:13:25.200 --> 0:13:27.360
<v Speaker 10>they have to decide for themselves whether or not that's

0:13:27.400 --> 0:13:30.120
<v Speaker 10>worth the risk, and some of them decide it is,

0:13:30.200 --> 0:13:32.120
<v Speaker 10>and some of them decide it isn't. So I would

0:13:32.160 --> 0:13:34.520
<v Speaker 10>say it definitely has made a difference. I wouldn't say

0:13:34.520 --> 0:13:37.319
<v Speaker 10>it's gotten rid of it entirely. I mean, I think

0:13:37.480 --> 0:13:39.920
<v Speaker 10>that would be crass of me to take credit for

0:13:39.960 --> 0:13:41.720
<v Speaker 10>getting rid of a subject, because that's not true by

0:13:41.760 --> 0:13:42.360
<v Speaker 10>any stretch.

0:13:42.440 --> 0:13:44.360
<v Speaker 4>Oh it's still out there, Yeah, for sure it is.

0:13:44.520 --> 0:13:48.120
<v Speaker 10>And I think my bigger goal though, is not necessarily

0:13:48.160 --> 0:13:50.440
<v Speaker 10>to get them to stop. It's to empower all the

0:13:50.480 --> 0:13:51.959
<v Speaker 10>people that they hurt all the time.

0:13:52.200 --> 0:13:54.520
<v Speaker 2>Well, this is where I want to come to because

0:13:55.040 --> 0:13:57.520
<v Speaker 2>people come up to you, right listen, and people who

0:13:57.520 --> 0:13:59.400
<v Speaker 2>don't have the voice that you do, and.

0:13:59.360 --> 0:14:02.079
<v Speaker 4>I'm sure they're yeah, absolutely a little.

0:14:01.880 --> 0:14:03.800
<v Speaker 2>Bit about that, like the feedback you get from just

0:14:03.920 --> 0:14:06.280
<v Speaker 2>I hate to say normal people, but yeah, who don't

0:14:06.280 --> 0:14:07.080
<v Speaker 2>have platforms.

0:14:07.559 --> 0:14:10.160
<v Speaker 10>I mean, it's it's one of the few things that

0:14:10.360 --> 0:14:14.280
<v Speaker 10>makes me emotional, like when it comes to my TikTok journey.

0:14:14.880 --> 0:14:16.560
<v Speaker 10>But it's also one of the few things that makes

0:14:16.559 --> 0:14:19.600
<v Speaker 10>it worth it because you know, I laugh and joke

0:14:19.640 --> 0:14:21.720
<v Speaker 10>all the time about you know, getting hate from men,

0:14:21.800 --> 0:14:25.360
<v Speaker 10>because it is true. It's silly in a very superficial way,

0:14:26.000 --> 0:14:27.840
<v Speaker 10>but in a very real way. There's a very real

0:14:27.960 --> 0:14:30.360
<v Speaker 10>danger that has come with me doing this for a

0:14:30.360 --> 0:14:32.240
<v Speaker 10>living like it's posed a very real threat to me

0:14:32.320 --> 0:14:32.840
<v Speaker 10>and my family.

0:14:33.000 --> 0:14:34.880
<v Speaker 4>These are about security, yeah.

0:14:34.480 --> 0:14:38.840
<v Speaker 10>Overall, because you know, when biggots are bigots, they get

0:14:38.880 --> 0:14:41.560
<v Speaker 10>so angry that sometimes they want to kill you because

0:14:41.560 --> 0:14:44.440
<v Speaker 10>they see your content. So it has posed a very

0:14:44.480 --> 0:14:46.560
<v Speaker 10>real threat to me and my family in a lot

0:14:46.640 --> 0:14:50.880
<v Speaker 10>of ways. I've taken extensive, extensive precautions and measures to

0:14:50.880 --> 0:14:53.280
<v Speaker 10>protect myself and my family, but it is at risk

0:14:53.320 --> 0:14:56.560
<v Speaker 10>I had to make peace with. So you know, when

0:14:56.600 --> 0:14:59.880
<v Speaker 10>I hear testimonies from people who have used my content

0:15:00.280 --> 0:15:04.280
<v Speaker 10>in a very real way, like they've put it into

0:15:04.280 --> 0:15:06.080
<v Speaker 10>their lives in a way that has made a huge

0:15:06.080 --> 0:15:08.880
<v Speaker 10>difference for them, it makes it worth it. I like

0:15:08.920 --> 0:15:12.080
<v Speaker 10>hold that those kinds of stories so dearly when I

0:15:12.120 --> 0:15:13.840
<v Speaker 10>feel like I can't do it anymore, because it does

0:15:13.880 --> 0:15:17.400
<v Speaker 10>get really hard at certain points dealing with the very

0:15:17.440 --> 0:15:20.880
<v Speaker 10>specific niche that I find myself in. So I mean,

0:15:21.120 --> 0:15:24.200
<v Speaker 10>I've heard many different stories, like from women who are

0:15:24.200 --> 0:15:26.520
<v Speaker 10>in their fifties who got a divorce because they've been

0:15:26.520 --> 0:15:30.720
<v Speaker 10>watching my content. I've heard testimonies from trans women who

0:15:30.720 --> 0:15:32.480
<v Speaker 10>told me my content kept them on this earth longer

0:15:32.480 --> 0:15:35.600
<v Speaker 10>than they planned to be. So I've heard many, many

0:15:35.640 --> 0:15:40.239
<v Speaker 10>different stories that have made me very aware and confident

0:15:40.280 --> 0:15:43.000
<v Speaker 10>that it is impacting in a very positive way.

0:15:43.120 --> 0:15:44.200
<v Speaker 4>You realize the power of it.

0:15:44.320 --> 0:15:47.840
<v Speaker 3>Yeah, absolutely, rue, this is Bloomberg. We follow the money.

0:15:48.120 --> 0:15:49.120
<v Speaker 3>We want to know about some money.

0:15:49.160 --> 0:15:50.720
<v Speaker 4>Do you think ten year yield is going to go?

0:15:52.120 --> 0:15:54.560
<v Speaker 3>You know you came here with It's not just you. You

0:15:54.480 --> 0:15:58.800
<v Speaker 3>have a team. I mean, like I'm looking at it

0:15:58.800 --> 0:16:02.280
<v Speaker 3>doesn't make sure afterwards. This is your full time job. Yes,

0:16:02.640 --> 0:16:05.080
<v Speaker 3>talk to me about you know, the money behind this,

0:16:05.440 --> 0:16:09.160
<v Speaker 3>the brand deals that you have. Please share and share

0:16:09.200 --> 0:16:10.080
<v Speaker 3>some numbers if you can.

0:16:10.560 --> 0:16:13.520
<v Speaker 10>You. Oh, yeah, I mean I have a pretty extensive

0:16:13.560 --> 0:16:16.000
<v Speaker 10>team as of right now. I have like I have

0:16:16.040 --> 0:16:18.080
<v Speaker 10>an agent, I have a manager, I have a lawyer.

0:16:18.280 --> 0:16:21.480
<v Speaker 10>I have three publicists. I have a stylist. I have

0:16:21.520 --> 0:16:25.160
<v Speaker 10>a hair and makeup artist. I actually have two managers. Yeah,

0:16:25.280 --> 0:16:28.720
<v Speaker 10>two managers, and you know the list goes on. I

0:16:28.720 --> 0:16:31.040
<v Speaker 10>have lots of Like I work with people at Spotify,

0:16:31.160 --> 0:16:33.280
<v Speaker 10>I work with people on my book. I have, like,

0:16:33.440 --> 0:16:36.440
<v Speaker 10>you know, very very expensive team, which I think it

0:16:36.600 --> 0:16:38.880
<v Speaker 10>just it takes a village right to run something like this.

0:16:38.960 --> 0:16:41.720
<v Speaker 10>I could never do any like even half of the

0:16:41.720 --> 0:16:43.920
<v Speaker 10>things I have done just by myself. So I'm very

0:16:43.960 --> 0:16:46.520
<v Speaker 10>grateful for a team. But yeah, I'm very lucky to

0:16:46.560 --> 0:16:48.440
<v Speaker 10>have worked with many different brands that.

0:16:48.360 --> 0:16:50.200
<v Speaker 3>I put A team is expensive.

0:16:49.920 --> 0:16:51.040
<v Speaker 6>Yes, yeah, for sure.

0:16:51.160 --> 0:16:54.000
<v Speaker 10>I mean they're expensive, but it's all about I think,

0:16:55.200 --> 0:16:58.240
<v Speaker 10>what's worth it to you? Right, So the only way

0:16:58.280 --> 0:17:02.280
<v Speaker 10>I get bigger opportunity is by hiring experts. And I'm

0:17:02.400 --> 0:17:04.520
<v Speaker 10>not not too proud to admit that I don't know

0:17:04.720 --> 0:17:05.960
<v Speaker 10>everything about this business.

0:17:06.040 --> 0:17:09.800
<v Speaker 6>So yeah, I mean, sorry, it's.

0:17:09.640 --> 0:17:10.280
<v Speaker 4>Like they're listening.

0:17:10.600 --> 0:17:11.320
<v Speaker 6>You know who they are?

0:17:12.320 --> 0:17:13.080
<v Speaker 4>Just thirty seconds.

0:17:13.080 --> 0:17:15.520
<v Speaker 2>When you think about working with a brand, what's going

0:17:15.600 --> 0:17:18.080
<v Speaker 2>to be top of mind? Is it about the financial

0:17:18.240 --> 0:17:19.000
<v Speaker 2>composition of it?

0:17:19.119 --> 0:17:21.359
<v Speaker 4>Or is it also who they are? Just really quickly, I.

0:17:21.359 --> 0:17:24.280
<v Speaker 10>Mean, I think finances play a huge role, for sure.

0:17:24.400 --> 0:17:26.800
<v Speaker 10>Obviously I'm a business and I have to remember that

0:17:26.840 --> 0:17:28.800
<v Speaker 10>we're a business. But at the same time, I think

0:17:28.840 --> 0:17:32.000
<v Speaker 10>as long as their ethos matches mine, and they understand

0:17:32.040 --> 0:17:35.040
<v Speaker 10>my platform and agree with it and feel empowered by

0:17:35.080 --> 0:17:37.480
<v Speaker 10>it or feel like it needs to be spread even larger,

0:17:38.480 --> 0:17:39.480
<v Speaker 10>I think that's really all.

0:17:39.440 --> 0:17:40.359
<v Speaker 6>I focus on.

0:17:40.600 --> 0:17:42.960
<v Speaker 2>Well, congratulations and for willing to make the fight for

0:17:43.000 --> 0:17:44.359
<v Speaker 2>people who don't have a voice out.

0:17:44.400 --> 0:17:45.040
<v Speaker 6>Thank you so much.

0:17:45.080 --> 0:17:45.800
<v Speaker 4>Really cool stuff.

0:17:45.920 --> 0:17:46.200
<v Speaker 6>Thank you.

0:17:46.440 --> 0:17:50.200
<v Speaker 2>Drew Afwalo, a TikTok creator of course and content creator

0:17:50.240 --> 0:17:52.560
<v Speaker 2>should say and host of the comment section. Joining us

0:17:52.600 --> 0:17:53.800
<v Speaker 2>here at Bloomberg screen Time.

0:17:55.000 --> 0:17:58.520
<v Speaker 1>You're listening to the Bloomberg Business Week podcast. Catch us

0:17:58.600 --> 0:18:02.560
<v Speaker 1>live weekday afternoons from three to six Eastern on Bloomberg Radio,

0:18:02.800 --> 0:18:06.040
<v Speaker 1>the Bloomberg Business app, and YouTube. You can also listen

0:18:06.200 --> 0:18:09.280
<v Speaker 1>live on Amazon Alexa from our flagship New York station

0:18:09.760 --> 0:18:12.480
<v Speaker 1>Just Say Alexa playing Bloomberg eleven thirty.

0:18:14.080 --> 0:18:16.880
<v Speaker 3>We got a great guest with us this afternoon, Laura Miles,

0:18:16.960 --> 0:18:20.040
<v Speaker 3>President of Entertainment and Technology at the thirty five billion

0:18:20.080 --> 0:18:23.119
<v Speaker 3>dollar market cap and gaming giant EA. You also might

0:18:23.200 --> 0:18:25.640
<v Speaker 3>know it as Electronic Arts. She knows this company well.

0:18:25.720 --> 0:18:29.560
<v Speaker 3>She was a former COO and c chief Studios Officer

0:18:29.600 --> 0:18:31.679
<v Speaker 3>of EA as well. She's with us right now at

0:18:31.680 --> 0:18:34.440
<v Speaker 3>the Bloomberg screen Time event here in Los Angeles. We're

0:18:34.480 --> 0:18:35.280
<v Speaker 3>in sunny Hollywood.

0:18:35.280 --> 0:18:35.600
<v Speaker 11>How are you.

0:18:35.920 --> 0:18:38.480
<v Speaker 9>I'm great? Hello, Thanks for having me. Thank you. What

0:18:38.600 --> 0:18:39.560
<v Speaker 9>a great event it is.

0:18:40.280 --> 0:18:42.040
<v Speaker 4>Yeah, what do you get out of something like this?

0:18:42.600 --> 0:18:46.320
<v Speaker 12>I just I love the cross section of technology, media

0:18:46.680 --> 0:18:48.639
<v Speaker 12>and then just the conversations that are happening. So the

0:18:48.720 --> 0:18:53.159
<v Speaker 12>presentations are awesome, but the richness comes from the you know,

0:18:53.240 --> 0:18:56.280
<v Speaker 12>getting a cup of coffee and having interaction in exchange

0:18:56.280 --> 0:18:58.240
<v Speaker 12>with people. I just did to talk about gaming and

0:18:59.000 --> 0:19:01.800
<v Speaker 12>it was great to hear people from nonprofits that are

0:19:01.920 --> 0:19:04.879
<v Speaker 12>very passionate about education and how gaming can contribute to that.

0:19:04.920 --> 0:19:06.000
<v Speaker 12>And I don't know if I would have had that.

0:19:06.040 --> 0:19:07.440
<v Speaker 12>I don't know if I could have organized that or

0:19:07.480 --> 0:19:09.840
<v Speaker 12>have you know, planned that conversation. So it's great, it's

0:19:09.840 --> 0:19:10.359
<v Speaker 12>great to be here.

0:19:10.520 --> 0:19:11.080
<v Speaker 4>It's so funny.

0:19:11.119 --> 0:19:13.080
<v Speaker 2>It's a very bloomberg ish kind of thing where we

0:19:13.160 --> 0:19:14.639
<v Speaker 2>all kind of have to like run into each We

0:19:14.680 --> 0:19:15.720
<v Speaker 2>don't have to, but we just do.

0:19:15.920 --> 0:19:17.680
<v Speaker 4>But it's amazing that you're like, oh, I didn't.

0:19:17.480 --> 0:19:20.359
<v Speaker 9>Know you was doing that. Like maybe happy accidents, right, yeah, great.

0:19:20.200 --> 0:19:23.080
<v Speaker 2>Happy accident tell us about your world and when you

0:19:23.200 --> 0:19:25.520
<v Speaker 2>are thinking about I mean, actually, let's go to the

0:19:25.560 --> 0:19:26.040
<v Speaker 2>big story.

0:19:27.480 --> 0:19:30.280
<v Speaker 4>Let's talk about soccer. Okay, can we go there first?

0:19:30.359 --> 0:19:30.600
<v Speaker 9>Sure?

0:19:31.440 --> 0:19:33.720
<v Speaker 2>In terms of this long term relationship that you guys

0:19:33.760 --> 0:19:35.959
<v Speaker 2>have with FIFA and now you're you're doing your own thing.

0:19:36.960 --> 0:19:39.879
<v Speaker 2>Was that a complicated, difficult switch to do.

0:19:40.720 --> 0:19:43.159
<v Speaker 12>It's been it's been years in the making, and it

0:19:43.320 --> 0:19:46.000
<v Speaker 12>was such a great time for us, given shifts that

0:19:46.040 --> 0:19:48.320
<v Speaker 12>we're seeing in the industry, shifts we're seeing in technology,

0:19:48.880 --> 0:19:50.360
<v Speaker 12>it was a moment for us to say, hey, gosh,

0:19:50.400 --> 0:19:52.960
<v Speaker 12>can we really create our own brand? And you know,

0:19:53.200 --> 0:19:56.119
<v Speaker 12>Ea Sports Football Club. It's such an the idea and

0:19:56.200 --> 0:19:59.600
<v Speaker 12>concept of it's such an inclusive idea for players and

0:19:59.680 --> 0:20:02.480
<v Speaker 12>partner we have with clubs. We have nineteen thousand athletes

0:20:02.560 --> 0:20:04.920
<v Speaker 12>in the game, and so it's remarkable. And where the

0:20:05.000 --> 0:20:08.840
<v Speaker 12>industry is headed is you think about games now as

0:20:08.920 --> 0:20:12.680
<v Speaker 12>platforms and in the case of E Sports FC, we

0:20:12.800 --> 0:20:14.119
<v Speaker 12>have a mobile game, we.

0:20:14.160 --> 0:20:15.080
<v Speaker 9>Have online game.

0:20:15.200 --> 0:20:18.080
<v Speaker 12>In Asia, we have the HD premium game, and they're

0:20:18.119 --> 0:20:20.679
<v Speaker 12>all about this big ecosystem. Hundreds of millions of players

0:20:20.720 --> 0:20:23.200
<v Speaker 12>in this and they play multiple versions of the game,

0:20:23.600 --> 0:20:26.679
<v Speaker 12>and they socially connect and they create together and they

0:20:26.760 --> 0:20:29.600
<v Speaker 12>watch games together. And so that's really the future and

0:20:29.680 --> 0:20:32.400
<v Speaker 12>what we're seeing in the industry. And when we think

0:20:32.440 --> 0:20:37.480
<v Speaker 12>about electronic arts, we also have Battlefield, the SIMS and

0:20:37.640 --> 0:20:41.320
<v Speaker 12>Apex and Skate and so you apply this model of

0:20:41.400 --> 0:20:44.440
<v Speaker 12>this connected ecosystem, these massive online communities, we see that

0:20:44.520 --> 0:20:47.520
<v Speaker 12>that's a really important direction for our growth and where

0:20:47.520 --> 0:20:47.960
<v Speaker 12>we're headed.

0:20:48.119 --> 0:20:51.159
<v Speaker 3>But this game, I mean FIFA's legendary one of the

0:20:51.240 --> 0:20:53.240
<v Speaker 3>best selling series in the world, more than three hundred

0:20:53.240 --> 0:20:56.600
<v Speaker 3>and seventy five million copies sold, versions in twenty different languages,

0:20:56.960 --> 0:20:58.520
<v Speaker 3>and for people who are just catching up. And there's

0:20:58.520 --> 0:21:00.480
<v Speaker 3>a great article and the great in this week's edition

0:21:00.520 --> 0:21:03.280
<v Speaker 3>of Bloomberg Business Week. EA and FIFA were not able

0:21:03.320 --> 0:21:05.760
<v Speaker 3>to come to a licensing agreement, So this year it's

0:21:05.800 --> 0:21:09.280
<v Speaker 3>not called FIFA anymore. It's called EA Sports FC twenty four.

0:21:09.960 --> 0:21:13.080
<v Speaker 3>How do you make sure that consumers of the game,

0:21:13.160 --> 0:21:15.600
<v Speaker 3>people who are new to it as well, know that

0:21:16.119 --> 0:21:18.200
<v Speaker 3>this is the next iteration of what last year was

0:21:18.240 --> 0:21:18.760
<v Speaker 3>called FIFA.

0:21:18.880 --> 0:21:22.000
<v Speaker 12>Are they already well, you know, we launched the A

0:21:22.119 --> 0:21:24.879
<v Speaker 12>Sports FC twenty four a few weeks ago and we

0:21:24.960 --> 0:21:27.840
<v Speaker 12>are so thrilled with the reception of the game. And

0:21:28.119 --> 0:21:31.160
<v Speaker 12>keep in mind, the game is everything that it was Again.

0:21:31.200 --> 0:21:34.320
<v Speaker 12>We have nineteen thousand athletes, over three hundred clubs and partnerships,

0:21:34.320 --> 0:21:36.800
<v Speaker 12>So when players in Liverpool show up, their club is there,

0:21:36.840 --> 0:21:39.240
<v Speaker 12>their athletes are there, and that's what's really meaningful to them.

0:21:39.560 --> 0:21:42.680
<v Speaker 12>That was super important that we maintain that integrity of

0:21:42.840 --> 0:21:46.040
<v Speaker 12>the experience and so and we were also able to

0:21:46.119 --> 0:21:50.280
<v Speaker 12>innovate in the game with some really great technology and

0:21:50.560 --> 0:21:55.919
<v Speaker 12>really realistic soccer experiences and animation and with the players.

0:21:55.960 --> 0:21:57.920
<v Speaker 2>And so I think it's amazing when you guys get

0:21:58.000 --> 0:22:01.600
<v Speaker 2>so specific on details in of whether it's how there's shorts.

0:22:01.359 --> 0:22:03.159
<v Speaker 4>Move like I know our story in Bloomberg Business, we

0:22:03.320 --> 0:22:03.840
<v Speaker 4>talks about it.

0:22:03.920 --> 0:22:06.160
<v Speaker 2>But it does say something about the attention to detail

0:22:06.359 --> 0:22:09.119
<v Speaker 2>so that when somebody is playing, it's like being at

0:22:09.119 --> 0:22:09.800
<v Speaker 2>a real it's advan.

0:22:09.800 --> 0:22:13.320
<v Speaker 12>It's about realism and yeah, and having and having that expression.

0:22:13.359 --> 0:22:15.800
<v Speaker 12>And I am a soccer player on the you know,

0:22:15.880 --> 0:22:17.240
<v Speaker 12>on the pitch, and so I think that that's that's

0:22:17.240 --> 0:22:19.520
<v Speaker 12>what players really really look for. So yeah, we're we're

0:22:19.520 --> 0:22:22.080
<v Speaker 12>really proud of of where it's landed, how the game

0:22:22.200 --> 0:22:24.520
<v Speaker 12>is received by players right now, and where we're headed.

0:22:24.560 --> 0:22:27.479
<v Speaker 12>That's the exciting thing. Again, these connected communities are massive,

0:22:27.640 --> 0:22:27.840
<v Speaker 12>So what.

0:22:27.880 --> 0:22:28.440
<v Speaker 4>Do you do with that?

0:22:28.520 --> 0:22:30.800
<v Speaker 2>Because you know, when we talk about connected communities, I

0:22:30.840 --> 0:22:32.960
<v Speaker 2>think we go to the traditional social world, right and

0:22:33.040 --> 0:22:36.199
<v Speaker 2>we think about those communities better or worse. Tell us

0:22:36.240 --> 0:22:39.280
<v Speaker 2>about that community and what's the power of it and

0:22:39.760 --> 0:22:41.000
<v Speaker 2>where else you can go with it.

0:22:42.000 --> 0:22:45.800
<v Speaker 12>You know, the idea about play, clearly, games are about

0:22:45.800 --> 0:22:49.240
<v Speaker 12>play being and playing games, right and as we continue

0:22:49.240 --> 0:22:51.480
<v Speaker 12>to think about our design and our innovation, we really

0:22:51.560 --> 0:22:54.480
<v Speaker 12>want to extend the modality of experiences for players. So

0:22:54.640 --> 0:22:58.240
<v Speaker 12>creation in games is also significant right now, really big,

0:22:58.560 --> 0:23:01.959
<v Speaker 12>creating your own objects, creating your own modes so your

0:23:01.960 --> 0:23:02.840
<v Speaker 12>friends can come play.

0:23:03.040 --> 0:23:04.359
<v Speaker 9>And then the next.

0:23:04.320 --> 0:23:07.600
<v Speaker 12>Modality is watching that and so people can record and

0:23:08.000 --> 0:23:11.040
<v Speaker 12>create short form videos and then broadcast that. And then

0:23:11.080 --> 0:23:13.119
<v Speaker 12>to your point, the social connection around all of that

0:23:13.359 --> 0:23:16.480
<v Speaker 12>is what is really meaningful, and that's the flywheel multiplier

0:23:17.119 --> 0:23:21.280
<v Speaker 12>effect of engagement. We have billion people spend billions of

0:23:21.359 --> 0:23:24.199
<v Speaker 12>hours in our games every year. It's remarkable how much

0:23:24.240 --> 0:23:26.560
<v Speaker 12>time people spend with us. We'll launch a game and

0:23:27.000 --> 0:23:29.160
<v Speaker 12>will they can come back and play it every day

0:23:29.520 --> 0:23:32.120
<v Speaker 12>a whole course of year. We used to launch twenty

0:23:32.160 --> 0:23:34.239
<v Speaker 12>thirty games a year. We launched maybe seven or eight now,

0:23:34.760 --> 0:23:37.520
<v Speaker 12>but we launch four to five hundred life service updates

0:23:37.520 --> 0:23:40.680
<v Speaker 12>a year, and so we're there for players with events

0:23:40.720 --> 0:23:43.960
<v Speaker 12>and seasons and content and just keeping the game alive.

0:23:44.080 --> 0:23:48.040
<v Speaker 12>And to your question about social engagement, having those components,

0:23:48.080 --> 0:23:50.640
<v Speaker 12>having those events and having those shared experiences super important

0:23:50.760 --> 0:23:52.800
<v Speaker 12>for the social engagement.

0:23:52.920 --> 0:23:55.680
<v Speaker 2>Keep going back, yes, exactly, now it's new or what's

0:23:55.720 --> 0:23:56.000
<v Speaker 2>going on.

0:23:56.119 --> 0:23:59.080
<v Speaker 3>Where's the growth happening for EA right now? Is it

0:23:59.560 --> 0:24:03.280
<v Speaker 3>with the same people buying more games, playing these games

0:24:03.359 --> 0:24:07.119
<v Speaker 3>more or are you successfully bringing more people into gaming.

0:24:08.680 --> 0:24:11.920
<v Speaker 12>It's both, I would say so first really meeting the

0:24:12.040 --> 0:24:15.120
<v Speaker 12>gen Z gen Alpha motivation and need through creation, through

0:24:15.280 --> 0:24:18.639
<v Speaker 12>self expression, through sharing content, and then that social connection

0:24:18.760 --> 0:24:21.239
<v Speaker 12>around that's super important for us to hit that key

0:24:21.359 --> 0:24:24.600
<v Speaker 12>motivation of the of that generation of those players. And

0:24:24.720 --> 0:24:27.760
<v Speaker 12>then I would say that players as well, spending more

0:24:27.840 --> 0:24:30.640
<v Speaker 12>time in our games is also another area of growth

0:24:30.680 --> 0:24:33.040
<v Speaker 12>for us. So we look at, you know, continue to

0:24:33.080 --> 0:24:38.040
<v Speaker 12>expand our tam having you know, bringing new players into experiences,

0:24:38.080 --> 0:24:41.920
<v Speaker 12>whether it be through new gameplay modes, new brands, new franchises.

0:24:42.000 --> 0:24:43.920
<v Speaker 12>Apex has been a huge success for us, and that's

0:24:43.960 --> 0:24:46.879
<v Speaker 12>been a great game for younger players. And then and

0:24:46.960 --> 0:24:50.800
<v Speaker 12>then just having more content for players. Our SIMS game

0:24:50.880 --> 0:24:53.159
<v Speaker 12>SIMPS four right now is about ten years old, and

0:24:53.280 --> 0:24:54.960
<v Speaker 12>we just we continue to put out content. People just

0:24:55.000 --> 0:24:57.359
<v Speaker 12>continue to spend even more and more time so new

0:24:57.440 --> 0:24:59.960
<v Speaker 12>players address large addressable markets, and then just more time

0:25:00.000 --> 0:25:01.679
<v Speaker 12>I'm in the games are really critical.

0:25:01.800 --> 0:25:02.040
<v Speaker 3>All right.

0:25:02.080 --> 0:25:04.120
<v Speaker 4>This may be a little weird, but you know, coming

0:25:04.200 --> 0:25:05.760
<v Speaker 4>off a bar Go there, Go there.

0:25:05.880 --> 0:25:07.639
<v Speaker 2>And I know that's been a big conversation here, but

0:25:07.720 --> 0:25:10.000
<v Speaker 2>I do think you know, folks are saying, nobody would

0:25:10.040 --> 0:25:12.439
<v Speaker 2>have thought they've talked about a Barbie movie forever. Finally

0:25:12.520 --> 0:25:14.399
<v Speaker 2>happened and it was a really huge success. And so

0:25:14.560 --> 0:25:16.840
<v Speaker 2>I think anybody who owns any kind of toy property

0:25:17.240 --> 0:25:20.199
<v Speaker 2>is like rethinking. So how do you guys think about? Okay, now,

0:25:20.240 --> 0:25:23.879
<v Speaker 2>where's another avenue that could be a great content creator

0:25:23.960 --> 0:25:24.439
<v Speaker 2>for gaming?

0:25:24.920 --> 0:25:26.720
<v Speaker 4>Where do you go? What do you look for? What

0:25:26.920 --> 0:25:32.040
<v Speaker 4>kind of trending or you know, innovators or TikTokers like, yeah,

0:25:32.200 --> 0:25:33.879
<v Speaker 4>who is it or what is it that you look at?

0:25:34.240 --> 0:25:34.400
<v Speaker 6>Well?

0:25:34.560 --> 0:25:36.359
<v Speaker 12>The beautiful thing about where we are right now as

0:25:36.400 --> 0:25:38.560
<v Speaker 12>an industry is that as we looked to our players,

0:25:38.640 --> 0:25:41.800
<v Speaker 12>I mean again this idea about creative self expression and

0:25:41.880 --> 0:25:45.800
<v Speaker 12>creating sandboxes and tools and frameworks for them to create experiences,

0:25:45.960 --> 0:25:48.080
<v Speaker 12>I think it is it's been phenomenal to see what

0:25:48.160 --> 0:25:50.600
<v Speaker 12>people create and how they engage with our tools and

0:25:50.640 --> 0:25:51.080
<v Speaker 12>our worlds.

0:25:51.119 --> 0:25:53.359
<v Speaker 9>And so we've been inspired.

0:25:53.040 --> 0:25:55.720
<v Speaker 4>By you could just keep kind of playing, yes completely, and.

0:25:56.040 --> 0:25:57.960
<v Speaker 12>We're super inspired by how people think about things, and

0:25:58.160 --> 0:26:00.479
<v Speaker 12>you know, in ways that are very unexpected and how

0:26:00.520 --> 0:26:02.440
<v Speaker 12>they engage and interact in our world.

0:26:03.000 --> 0:26:05.159
<v Speaker 3>Microsoft is trying to pull off a huge acquisition at

0:26:05.160 --> 0:26:11.679
<v Speaker 3>after I don't know if that's happening. So what does

0:26:11.760 --> 0:26:13.840
<v Speaker 3>that mean for you being sort of among the last

0:26:13.960 --> 0:26:16.879
<v Speaker 3>you know, quote unquote independent publicly traded game studios if

0:26:16.920 --> 0:26:19.359
<v Speaker 3>this deal goes through, not like we're like a lawyer

0:26:19.440 --> 0:26:21.280
<v Speaker 3>and m and a exactly.

0:26:21.920 --> 0:26:21.960
<v Speaker 10>No.

0:26:22.440 --> 0:26:23.960
<v Speaker 12>I think it's well, first of all, I think it's

0:26:24.520 --> 0:26:27.000
<v Speaker 12>it's it's amazing. Actually it's I mean that this will

0:26:27.040 --> 0:26:30.800
<v Speaker 12>be one of the largest tech acquisitions in the US history,

0:26:30.920 --> 0:26:34.200
<v Speaker 12>I believe, and the fact that it's about gaming is

0:26:34.440 --> 0:26:37.280
<v Speaker 12>remarkable to me, and it just punctuates the significance of

0:26:37.520 --> 0:26:40.959
<v Speaker 12>our sector and what gaming is to technology and needing entertainment.

0:26:41.000 --> 0:26:41.520
<v Speaker 9>So I think it is.

0:26:42.320 --> 0:26:45.480
<v Speaker 12>I just think it's interesting and really positive for the

0:26:45.600 --> 0:26:46.840
<v Speaker 12>perception of But.

0:26:46.880 --> 0:26:49.280
<v Speaker 3>What about your relationship with Microsoft? Then what happens.

0:26:49.480 --> 0:26:51.680
<v Speaker 12>We will maintain of the strong partnership and then they're

0:26:51.720 --> 0:26:54.320
<v Speaker 12>very they're important partner to us, they have a meaningful platform,

0:26:55.000 --> 0:26:57.320
<v Speaker 12>and of course they're on they have PC as well,

0:26:57.400 --> 0:27:01.680
<v Speaker 12>and so we will we will maintain a strong no concerns, no,

0:27:01.880 --> 0:27:04.119
<v Speaker 12>no concerns. I mean, I think that it seems like

0:27:04.160 --> 0:27:06.680
<v Speaker 12>all the things they've gone through to get to this point.

0:27:06.520 --> 0:27:09.440
<v Speaker 3>The government's concerned exactly several different governments.

0:27:09.160 --> 0:27:10.760
<v Speaker 9>Are they are, and they seem that there seem to

0:27:10.760 --> 0:27:12.240
<v Speaker 9>be a lot of a lot of things they're putting

0:27:12.240 --> 0:27:12.560
<v Speaker 9>in place.

0:27:12.680 --> 0:27:15.240
<v Speaker 2>But like a lot of the technology world, right, it's complicated,

0:27:15.520 --> 0:27:18.200
<v Speaker 2>like these relationships and you have them, but you compete,

0:27:18.320 --> 0:27:20.000
<v Speaker 2>and that's just the state of the world, right, And

0:27:20.080 --> 0:27:20.359
<v Speaker 2>it's and.

0:27:20.400 --> 0:27:21.800
<v Speaker 12>It has been that way, and to your point, it

0:27:21.920 --> 0:27:23.520
<v Speaker 12>is getting more complicated, that's for sure.

0:27:23.680 --> 0:27:24.720
<v Speaker 9>Yeah, But again, I.

0:27:24.800 --> 0:27:27.600
<v Speaker 12>Just it's it's fascinating to see where gaming is going

0:27:27.640 --> 0:27:30.280
<v Speaker 12>to go in entertainment and the role that gaming can have.

0:27:30.400 --> 0:27:33.000
<v Speaker 12>I mean, we again the engagement model that we have

0:27:33.160 --> 0:27:36.480
<v Speaker 12>relative to linear content or for streaming. I think that

0:27:37.119 --> 0:27:39.199
<v Speaker 12>but the bundling of content in the future is going

0:27:39.240 --> 0:27:42.320
<v Speaker 12>to be meaningful partnerships that we can have with with

0:27:42.440 --> 0:27:44.879
<v Speaker 12>media and entertainment companies and technology companies in the future.

0:27:44.960 --> 0:27:48.359
<v Speaker 12>So lots of conversations, oh, but there always have been, right,

0:27:48.400 --> 0:27:51.320
<v Speaker 12>there always there always have been partnership conversations. And I

0:27:51.320 --> 0:27:53.840
<v Speaker 12>would also tell you that making games is really hard,

0:27:54.080 --> 0:27:57.200
<v Speaker 12>as evidenced by several large companies that have invested billions

0:27:57.240 --> 0:27:57.679
<v Speaker 12>of dollars that have.

0:27:57.760 --> 0:27:59.639
<v Speaker 4>Tried, and you could do it, but to do it

0:27:59.680 --> 0:28:01.439
<v Speaker 4>really well, you to do.

0:28:01.440 --> 0:28:01.800
<v Speaker 9>It really well.

0:28:01.800 --> 0:28:04.680
<v Speaker 12>We've been in business for forty years and it's it is.

0:28:05.119 --> 0:28:07.959
<v Speaker 12>I think it's the highest form of entertainment media that exists,

0:28:08.000 --> 0:28:09.960
<v Speaker 12>and so it's it's very complicated and very hard to

0:28:10.040 --> 0:28:12.399
<v Speaker 12>make great games. So yes, there is interest and.

0:28:12.640 --> 0:28:14.160
<v Speaker 2>Can you just dig a little bit into that, because

0:28:14.200 --> 0:28:16.399
<v Speaker 2>the Bloomberg story in the magazine kind of gets into that.

0:28:16.600 --> 0:28:19.720
<v Speaker 2>Like just creating you know, whether it's face or or

0:28:19.800 --> 0:28:21.840
<v Speaker 2>the shorts moving like you would expect it to do.

0:28:22.000 --> 0:28:26.679
<v Speaker 2>I mean can take a long time, right coders, and so.

0:28:26.920 --> 0:28:31.320
<v Speaker 12>Of iteration, the iteration yes, in game engines and AI

0:28:31.520 --> 0:28:33.439
<v Speaker 12>is going to play a pretty meaningful role for us

0:28:33.560 --> 0:28:36.960
<v Speaker 12>in content creation. How so the you know, the way

0:28:37.000 --> 0:28:38.680
<v Speaker 12>we're looking at it. So AI has always been part

0:28:38.720 --> 0:28:39.240
<v Speaker 12>of our company.

0:28:39.360 --> 0:28:40.280
<v Speaker 9>I mean, if you go back.

0:28:40.200 --> 0:28:43.800
<v Speaker 12>Even nineteen eighty eight, Madden had twenty two players on

0:28:43.920 --> 0:28:45.880
<v Speaker 12>you know, little AI players on the field. So we

0:28:45.960 --> 0:28:48.640
<v Speaker 12>are an AI native entertainment company and always have been.

0:28:48.680 --> 0:28:51.400
<v Speaker 12>And we're looking at AI in a way of optimizing

0:28:51.440 --> 0:28:53.560
<v Speaker 12>what we currently have. So we know that AI can

0:28:53.640 --> 0:28:57.680
<v Speaker 12>optimize tools and workflows for our developers and so our

0:28:57.720 --> 0:29:00.560
<v Speaker 12>players as well as they're creating things. And also AI

0:29:01.040 --> 0:29:03.440
<v Speaker 12>is going to help us expand content. So we talked

0:29:03.440 --> 0:29:05.760
<v Speaker 12>about there are three point four billion players in the world.

0:29:05.840 --> 0:29:07.760
<v Speaker 12>They on average, they spend four to five hours a

0:29:07.840 --> 0:29:09.560
<v Speaker 12>week with us, and so there's you could have all

0:29:09.640 --> 0:29:12.800
<v Speaker 12>developers in the planet and not develop all the content

0:29:12.880 --> 0:29:15.440
<v Speaker 12>and metal demand that exists. And so AI, I think,

0:29:15.520 --> 0:29:17.560
<v Speaker 12>is going to play a meaningful role to help our

0:29:17.640 --> 0:29:21.360
<v Speaker 12>creators expand content and creation. And then of course it

0:29:21.440 --> 0:29:23.120
<v Speaker 12>can be very transform transformational.

0:29:23.640 --> 0:29:27.320
<v Speaker 4>Can I ask you who's a typical gamer? Because it's

0:29:27.440 --> 0:29:29.040
<v Speaker 4>because it's massive.

0:29:29.000 --> 0:29:30.960
<v Speaker 2>And the amount of time people are spending on your platform.

0:29:31.040 --> 0:29:32.880
<v Speaker 2>Who is your I ha to say average gamer, but

0:29:32.920 --> 0:29:34.600
<v Speaker 2>who is your typical gamer?

0:29:34.720 --> 0:29:38.040
<v Speaker 12>Well, and I love this question because of three point

0:29:38.080 --> 0:29:39.920
<v Speaker 12>four billion gamers by the end of this year that

0:29:40.320 --> 0:29:43.239
<v Speaker 12>we project, I'm close to fifty percent are women. That's

0:29:43.280 --> 0:29:44.720
<v Speaker 12>what I had and so I just and so I

0:29:45.040 --> 0:29:48.920
<v Speaker 12>love that. And mobile devices are incredibly significant. I mean,

0:29:48.960 --> 0:29:50.480
<v Speaker 12>there are mobile devices everywhere in the world, so we

0:29:50.480 --> 0:29:52.680
<v Speaker 12>can reach all corners of the world. So that's the

0:29:52.720 --> 0:29:54.400
<v Speaker 12>beautiful thing about it. I don't know if there is

0:29:54.480 --> 0:29:55.640
<v Speaker 12>a typical gamer.

0:29:55.400 --> 0:29:56.480
<v Speaker 6>And that age age.

0:29:56.640 --> 0:29:58.120
<v Speaker 4>Is there a typical age? Nope?

0:29:58.160 --> 0:30:00.240
<v Speaker 12>No, I mean that's we had when we you have

0:30:00.320 --> 0:30:02.960
<v Speaker 12>people that are you know, gen xers and played games.

0:30:03.000 --> 0:30:04.960
<v Speaker 12>They play a signific amount of console games that you

0:30:05.040 --> 0:30:07.520
<v Speaker 12>may have Jen alphagen Z playing on PC and mobile.

0:30:07.560 --> 0:30:10.880
<v Speaker 9>So it's just it's it's quite perfect. It's it's an

0:30:10.920 --> 0:30:11.760
<v Speaker 9>incredible place to be.

0:30:12.000 --> 0:30:14.320
<v Speaker 3>What is your favorite game that is non made.

0:30:14.160 --> 0:30:17.720
<v Speaker 9>By E A World of Warcraft as I played, I

0:30:17.800 --> 0:30:18.520
<v Speaker 9>played many years.

0:30:18.840 --> 0:30:20.880
<v Speaker 3>Yes, Hey, what is your favorite game that is made

0:30:20.920 --> 0:30:21.320
<v Speaker 3>by E A.

0:30:21.920 --> 0:30:23.000
<v Speaker 9>Command and conquer It Alert.

0:30:23.160 --> 0:30:26.480
<v Speaker 3>That's amazing. You are allowed to have favorite children a

0:30:26.520 --> 0:30:27.400
<v Speaker 3>lot I do.

0:30:27.640 --> 0:30:27.840
<v Speaker 2>I do.

0:30:27.960 --> 0:30:30.480
<v Speaker 12>I play less probably than I have. But I play

0:30:30.520 --> 0:30:32.360
<v Speaker 12>a lot of mobile games now because they're so accessible.

0:30:32.400 --> 0:30:34.240
<v Speaker 12>I travel a lot, and so that's it's great too.

0:30:34.480 --> 0:30:36.280
<v Speaker 3>U Plus it's working when you're playing games.

0:30:36.320 --> 0:30:36.920
<v Speaker 9>And it's working.

0:30:37.080 --> 0:30:39.640
<v Speaker 3>You got research. It's R and D exactly.

0:30:40.280 --> 0:30:43.440
<v Speaker 2>Really interesting stuff. So love it and thank you for

0:30:43.520 --> 0:30:45.280
<v Speaker 2>finding some time for us. I know, thank you for

0:30:45.440 --> 0:30:48.480
<v Speaker 2>having me. This is really fun, Laura, so appreciate it.

0:30:48.840 --> 0:30:51.480
<v Speaker 2>Laura Mieli, she is president of Entertainment Technology. Did I

0:30:51.480 --> 0:30:52.080
<v Speaker 2>say the name right?

0:30:52.160 --> 0:30:52.720
<v Speaker 3>Yes? You did.

0:30:53.280 --> 0:30:55.160
<v Speaker 2>Okay, we like to get it right, of course at

0:30:55.200 --> 0:30:57.959
<v Speaker 2>Electronic Arts. Joining us here on Bloomberg Business Week, I'm

0:30:57.960 --> 0:30:59.520
<v Speaker 2>Carol Masser, a long with Tim stand back.

0:31:00.160 --> 0:31:03.640
<v Speaker 1>If you're listening to the Bloomberg Business Week podcast, catch

0:31:03.720 --> 0:31:07.040
<v Speaker 1>us live weekday afternoons from three to six Eastern Listen

0:31:07.120 --> 0:31:10.560
<v Speaker 1>on Bloomberg dot com, the iHeartRadio app and the Bloomberg

0:31:10.640 --> 0:31:14.480
<v Speaker 1>Business App, or watch us live on YouTube from.

0:31:14.360 --> 0:31:15.320
<v Speaker 4>Bloomberg screen Time.

0:31:15.680 --> 0:31:20.480
<v Speaker 2>It's all about this, really talking about the content creators

0:31:20.560 --> 0:31:23.000
<v Speaker 2>where they're getting kind of their ideas from. And we've

0:31:23.040 --> 0:31:27.480
<v Speaker 2>seen athletes, we've seen TikTokers, we've seen you know, executives

0:31:27.600 --> 0:31:28.400
<v Speaker 2>all coming.

0:31:28.200 --> 0:31:32.600
<v Speaker 3>Together, sports culture, business, entertainment, the future of content. Also

0:31:33.120 --> 0:31:35.760
<v Speaker 3>covering all of these issues, the new issue of Bloomberg BusinessWeek.

0:31:35.760 --> 0:31:37.720
<v Speaker 3>It it's out now, it's on newstands, it's online at

0:31:37.720 --> 0:31:40.920
<v Speaker 3>Bloomberg dot com, slash BusinessWeek, and it's on the Bloomberg terminal.

0:31:41.080 --> 0:31:43.480
<v Speaker 3>I got it in my hands right now. It's all

0:31:43.480 --> 0:31:45.640
<v Speaker 3>about the conversation we've been having at screen Time from

0:31:45.680 --> 0:31:49.480
<v Speaker 3>Disney's Bob Iger and his next act to struggles that

0:31:49.680 --> 0:31:51.480
<v Speaker 3>EA is having in Life after FIFA.

0:31:51.600 --> 0:31:53.120
<v Speaker 2>So let's get to it, because right with us is

0:31:53.160 --> 0:31:54.959
<v Speaker 2>the two individuals have put this all together the new

0:31:55.000 --> 0:31:58.080
<v Speaker 2>issue of Bloomberg Business you repegan, of course, he is

0:31:58.240 --> 0:32:00.840
<v Speaker 2>BusinessWeek's senior editor and of course the editor of the magazine,

0:32:00.920 --> 0:32:03.920
<v Speaker 2>Joel Weber. So when did you guys start thinking about

0:32:03.960 --> 0:32:05.080
<v Speaker 2>I mean, this has.

0:32:04.960 --> 0:32:05.800
<v Speaker 13>Been a big event.

0:32:08.160 --> 0:32:11.880
<v Speaker 14>Months, but you know, I think that there's some really

0:32:11.920 --> 0:32:15.440
<v Speaker 14>important ingredients here and we wanted to think about some

0:32:15.560 --> 0:32:17.840
<v Speaker 14>of the stories that we felt like would be imperative

0:32:17.840 --> 0:32:18.680
<v Speaker 14>to have in this issue.

0:32:18.720 --> 0:32:19.200
<v Speaker 3>There's a couple.

0:32:19.320 --> 0:32:21.520
<v Speaker 4>I think, what was the first idea?

0:32:21.560 --> 0:32:24.440
<v Speaker 14>You're like, got to do it, you know, I think

0:32:25.160 --> 0:32:28.000
<v Speaker 14>to talk about Disney in this context was a really

0:32:28.120 --> 0:32:32.360
<v Speaker 14>important one one hundred year anniversary for the company. Things

0:32:32.440 --> 0:32:35.720
<v Speaker 14>have not gone especially well since Iger's return, and so

0:32:36.200 --> 0:32:37.760
<v Speaker 14>to make sure that we had a moment to talk

0:32:37.800 --> 0:32:42.160
<v Speaker 14>about what Disney and what an effort there can look

0:32:42.280 --> 0:32:45.400
<v Speaker 14>like and the challenges it speaks to such a lot

0:32:45.480 --> 0:32:46.760
<v Speaker 14>of the turmoil that is.

0:32:46.800 --> 0:32:48.080
<v Speaker 13>Gripping the industry right now.

0:32:48.120 --> 0:32:51.680
<v Speaker 14>I think as everybody tries to find what a profitable

0:32:52.800 --> 0:32:57.040
<v Speaker 14>growth strategy can look like, and obviously this was a

0:32:57.120 --> 0:33:00.720
<v Speaker 14>place where he helped put it on a certain trajectory.

0:33:01.240 --> 0:33:03.200
<v Speaker 14>And then things have kind of changed when he left

0:33:03.240 --> 0:33:05.120
<v Speaker 14>and he has to come back and kind of you know,

0:33:05.280 --> 0:33:08.480
<v Speaker 14>have this second act and a strike that has not

0:33:08.560 --> 0:33:09.080
<v Speaker 14>gone his way.

0:33:09.160 --> 0:33:10.040
<v Speaker 13>Like, there's a lot of.

0:33:10.240 --> 0:33:14.320
<v Speaker 14>Interesting elements of tension there, Brett, What else did you

0:33:14.360 --> 0:33:17.360
<v Speaker 14>feel like had to be in a screen time issue?

0:33:17.480 --> 0:33:18.960
<v Speaker 2>Can I just say to what was really cool is

0:33:19.000 --> 0:33:21.840
<v Speaker 2>that has come up so much so many of the conversations.

0:33:21.920 --> 0:33:24.280
<v Speaker 14>That's the defining element of like how do we how

0:33:24.320 --> 0:33:27.760
<v Speaker 14>does this industry in this in business models find a

0:33:27.840 --> 0:33:28.640
<v Speaker 14>way forward?

0:33:28.960 --> 0:33:29.080
<v Speaker 3>Right?

0:33:29.440 --> 0:33:32.120
<v Speaker 8>I would say that, you know, even bigger than excuse

0:33:32.160 --> 0:33:36.080
<v Speaker 8>me movies is gaming, of course, so we were fortunate

0:33:36.240 --> 0:33:40.840
<v Speaker 8>to be publishing around the same time that Ya's new

0:33:41.080 --> 0:33:44.320
<v Speaker 8>soccer game came out and talk about time. Yeah, for

0:33:44.400 --> 0:33:47.400
<v Speaker 8>anyone listening, they know that FIFA, the game, sorry, the

0:33:47.480 --> 0:33:51.040
<v Speaker 8>game formerly known as FIFA is like, you know, the

0:33:51.080 --> 0:33:54.200
<v Speaker 8>biggest game in the world. Basically you basically refer to

0:33:54.280 --> 0:33:58.600
<v Speaker 8>it as Ya's you just call it. Everyone knows what

0:33:58.760 --> 0:34:03.280
<v Speaker 8>you mean. And they decided not to well, there was

0:34:03.360 --> 0:34:06.320
<v Speaker 8>a disagreement about the renewal. It was let's say it

0:34:06.400 --> 0:34:11.000
<v Speaker 8>was complicated, and so it was life after FIFA became

0:34:11.520 --> 0:34:14.279
<v Speaker 8>a really big story because even bigger than Hollywood is gaming.

0:34:14.280 --> 0:34:17.080
<v Speaker 8>I mean, it's it's absolutely massive. So the opportunity to

0:34:17.360 --> 0:34:20.560
<v Speaker 8>look at the biggest, one of the biggest franchises in

0:34:20.680 --> 0:34:23.040
<v Speaker 8>all of gaming and to figure out, how does a

0:34:23.120 --> 0:34:26.680
<v Speaker 8>company that was so reliant on a name, what do

0:34:26.760 --> 0:34:29.200
<v Speaker 8>they do in their post FIFA era and how do

0:34:29.360 --> 0:34:31.719
<v Speaker 8>they still claim that top spot?

0:34:31.800 --> 0:34:33.600
<v Speaker 13>You want to give that away? What do you do?

0:34:34.280 --> 0:34:36.080
<v Speaker 3>Well, that's the question that the article asked.

0:34:36.120 --> 0:34:38.560
<v Speaker 8>Yeah, the article basically says, well, you just rename it,

0:34:40.280 --> 0:34:41.279
<v Speaker 8>call it EF.

0:34:41.600 --> 0:34:43.880
<v Speaker 3>You know, we had a great talk earlier today with

0:34:44.200 --> 0:34:48.160
<v Speaker 3>Laura Miele. She's president of Entertainment Technology at EA. We

0:34:48.239 --> 0:34:50.479
<v Speaker 3>spent a lot of our conversation asking her this question.

0:34:51.680 --> 0:34:53.839
<v Speaker 3>She's optimistic about it, though she thinks they can pull

0:34:53.880 --> 0:34:54.160
<v Speaker 3>it off.

0:34:54.920 --> 0:34:58.960
<v Speaker 8>It's it seems likely that she's probably right they I mean,

0:34:59.000 --> 0:35:00.680
<v Speaker 8>one of the things I thought was so cool and

0:35:00.719 --> 0:35:04.680
<v Speaker 8>interesting about the article is the amount of time that

0:35:04.840 --> 0:35:09.279
<v Speaker 8>they spend dealing with things like the players shorts. We

0:35:09.400 --> 0:35:12.040
<v Speaker 8>talk to her about that, so, like, I feel like

0:35:12.120 --> 0:35:13.920
<v Speaker 8>they're they're spending a lot of time on things that

0:35:13.960 --> 0:35:16.680
<v Speaker 8>are really important to the people who play these games,

0:35:17.080 --> 0:35:18.960
<v Speaker 8>and as long as they keep doing that, I think

0:35:19.200 --> 0:35:22.920
<v Speaker 8>they gamers will probably be okay with not having the

0:35:23.160 --> 0:35:23.560
<v Speaker 8>work up.

0:35:23.760 --> 0:35:27.440
<v Speaker 3>There just is this incredible image in that story showing

0:35:27.600 --> 0:35:31.120
<v Speaker 3>FIFA in what was it, the nineteen nineties, Yes, right

0:35:31.239 --> 0:35:35.120
<v Speaker 3>next to a picture of FIFA today, And it's incredible

0:35:35.160 --> 0:35:37.799
<v Speaker 3>to see. You know, each year it's incremental, but when

0:35:37.840 --> 0:35:40.520
<v Speaker 3>you look at it thirty years apart, Yeah, it's mind blowing.

0:35:40.640 --> 0:35:40.839
<v Speaker 6>Yeah.

0:35:41.040 --> 0:35:43.359
<v Speaker 13>Well, and those shorts and the way they wave are

0:35:43.400 --> 0:35:44.920
<v Speaker 13>going to blow your mind now, right.

0:35:45.719 --> 0:35:45.880
<v Speaker 10>You know.

0:35:45.920 --> 0:35:47.399
<v Speaker 14>The other thing I learned that I thought was really

0:35:47.440 --> 0:35:49.920
<v Speaker 14>interesting about that is that I talked to Alyssa Thompson here,

0:35:50.640 --> 0:35:54.280
<v Speaker 14>who's on our Ones to Watch list. She's a forward

0:35:54.400 --> 0:35:57.799
<v Speaker 14>four Angel City here in LA. She's also a member

0:35:57.840 --> 0:36:01.600
<v Speaker 14>of the national team. She's in the game, right, And

0:36:01.640 --> 0:36:03.839
<v Speaker 14>there's this whole other thing that's happened is that it's

0:36:03.840 --> 0:36:05.440
<v Speaker 14>always been men in the game, and now all of

0:36:05.440 --> 0:36:07.239
<v Speaker 14>a sudden, women are in the game. And you think

0:36:07.280 --> 0:36:10.880
<v Speaker 14>about what that changes for girls growing up, where they

0:36:10.920 --> 0:36:13.560
<v Speaker 14>can play or boys, they can.

0:36:14.160 --> 0:36:16.640
<v Speaker 13>Play as anyone they want in the game.

0:36:17.000 --> 0:36:19.960
<v Speaker 14>It just speaks to the reach that video games have

0:36:20.040 --> 0:36:22.920
<v Speaker 14>always had and like it can get bigger still, right,

0:36:23.040 --> 0:36:24.319
<v Speaker 14>That's that's an impressive thought.

0:36:24.760 --> 0:36:26.560
<v Speaker 2>The Ones to Watch you actually talked about it a

0:36:26.600 --> 0:36:29.200
<v Speaker 2>little bit here last night. Talk to us about those

0:36:29.239 --> 0:36:31.279
<v Speaker 2>individuals and what you guys were looking to do and

0:36:31.400 --> 0:36:33.080
<v Speaker 2>who you wanted to how you figured out who you

0:36:33.080 --> 0:36:34.000
<v Speaker 2>wanted to single out.

0:36:35.000 --> 0:36:37.279
<v Speaker 8>Bred Yeah, so I mean I think you know we're

0:36:37.280 --> 0:36:39.719
<v Speaker 8>talking about Hollywood. What does Hollywood always look for?

0:36:40.360 --> 0:36:40.839
<v Speaker 3>What's next?

0:36:40.960 --> 0:36:43.480
<v Speaker 8>Or yeah, who's the next big thing? Then the next

0:36:43.520 --> 0:36:46.440
<v Speaker 8>big star. So we said about, you know, months and

0:36:46.520 --> 0:36:48.840
<v Speaker 8>months ago, trying to figure out, well, who do we

0:36:48.920 --> 0:36:51.320
<v Speaker 8>want to draw people's attention to, so that you know,

0:36:51.440 --> 0:36:54.359
<v Speaker 8>you can be at a cocktail party and you can say, well,

0:36:54.440 --> 0:36:56.560
<v Speaker 8>you know that person is a big deal, but you

0:36:56.600 --> 0:36:59.239
<v Speaker 8>should really be paying attention to so and so so

0:36:59.280 --> 0:37:02.640
<v Speaker 8>Alyssa Thompson a great example. I had a nice conversation

0:37:02.760 --> 0:37:06.160
<v Speaker 8>this morning in studio with Brooke Michael Caine, who is

0:37:06.480 --> 0:37:11.120
<v Speaker 8>basically looking at how the concert going experience can be

0:37:11.200 --> 0:37:14.200
<v Speaker 8>bought into the year twenty twenty three. Like people going

0:37:14.239 --> 0:37:17.240
<v Speaker 8>to concert, it's basically been the same experience fear twenty

0:37:17.680 --> 0:37:18.840
<v Speaker 8>so outside of the.

0:37:18.920 --> 0:37:21.040
<v Speaker 13>Sphere right, which is its own thing.

0:37:22.640 --> 0:37:25.439
<v Speaker 8>Is but that is not that is a not really

0:37:25.840 --> 0:37:27.120
<v Speaker 8>it's hard to replicate that.

0:37:27.320 --> 0:37:28.440
<v Speaker 3>Maybe they can do in the UK.

0:37:28.880 --> 0:37:33.320
<v Speaker 8>Maybe maybe but that's really relies on a residency model.

0:37:33.400 --> 0:37:35.319
<v Speaker 8>So I wanted to get her take on, like, how

0:37:35.360 --> 0:37:37.520
<v Speaker 8>can we just improve this experience a little bit? Like

0:37:38.080 --> 0:37:40.440
<v Speaker 8>so she's literally working on things like how to direct

0:37:40.480 --> 0:37:43.479
<v Speaker 8>people to the shorter beer line, how to help people

0:37:43.560 --> 0:37:47.200
<v Speaker 8>with parking, how to get them a better seat if

0:37:47.239 --> 0:37:50.600
<v Speaker 8>they are have already seen an artist live. So we're

0:37:50.680 --> 0:37:53.440
<v Speaker 8>looking for people who are thinking about the big questions

0:37:53.480 --> 0:37:56.839
<v Speaker 8>of tomorrow and sort of answering them now in part,

0:37:57.000 --> 0:37:59.279
<v Speaker 8>but hopefully in a year down the line, two years

0:37:59.320 --> 0:38:00.880
<v Speaker 8>in the line, but a fuller answer.

0:38:01.480 --> 0:38:03.759
<v Speaker 14>The other one I really liked there was the the

0:38:03.840 --> 0:38:06.840
<v Speaker 14>guys who are trying to transform DC. All right, so

0:38:06.960 --> 0:38:09.920
<v Speaker 14>it's like we've seen what Marvel could accomplish. It was

0:38:10.080 --> 0:38:14.040
<v Speaker 14>it's been like a twenty year just incredible, not even

0:38:14.080 --> 0:38:14.879
<v Speaker 14>twenty ten years.

0:38:15.160 --> 0:38:16.400
<v Speaker 3>You're talking to d C comics.

0:38:16.960 --> 0:38:20.680
<v Speaker 13>Comics, Yeah, yeah, yeah, watching drama.

0:38:21.000 --> 0:38:23.239
<v Speaker 8>Yeah, we see, we can't we can't help.

0:38:25.200 --> 0:38:28.440
<v Speaker 14>There are some things beyond our capabilities. But what what

0:38:29.040 --> 0:38:31.279
<v Speaker 14>these two guys have are going to do? There is

0:38:31.360 --> 0:38:33.360
<v Speaker 14>going to be one to watch because we saw a

0:38:33.440 --> 0:38:37.360
<v Speaker 14>Marvel universe unfold and what these what they have the

0:38:37.400 --> 0:38:39.760
<v Speaker 14>potential to do with DC? Is to kind of reboot

0:38:40.080 --> 0:38:42.080
<v Speaker 14>the other side, and we're gonna have these big comic

0:38:42.120 --> 0:38:42.799
<v Speaker 14>book wars, I think.

0:38:42.880 --> 0:38:45.080
<v Speaker 8>And it's really interesting because they're now coming out this

0:38:45.480 --> 0:38:48.400
<v Speaker 8>at a time when we're starting to see some fatigue

0:38:48.440 --> 0:38:51.960
<v Speaker 8>in this universe. The movie cells are recently for Marvel

0:38:52.040 --> 0:38:54.640
<v Speaker 8>have been a little bit down. So you know, how

0:38:54.719 --> 0:38:58.160
<v Speaker 8>do you basically try to do what they've done in

0:38:58.239 --> 0:39:01.560
<v Speaker 8>an era where people have already been through five, ten, fifteen,

0:39:01.680 --> 0:39:03.480
<v Speaker 8>twenty twenty five to thirty movies?

0:39:03.600 --> 0:39:03.719
<v Speaker 13>Right?

0:39:03.719 --> 0:39:04.359
<v Speaker 6>A lot? Right?

0:39:04.440 --> 0:39:06.200
<v Speaker 8>How do you come in now and try to make

0:39:06.239 --> 0:39:07.440
<v Speaker 8>it feel vibrant and fresh?

0:39:07.560 --> 0:39:08.120
<v Speaker 4>I have an idea.

0:39:08.160 --> 0:39:09.960
<v Speaker 13>Oh go ahead, Jo, There's just one more story I

0:39:10.000 --> 0:39:11.360
<v Speaker 13>think we have to talk about too, which is.

0:39:11.520 --> 0:39:13.560
<v Speaker 4>Can I just say way to fix it? Taylor Swift?

0:39:13.600 --> 0:39:14.440
<v Speaker 3>But will Yeah, there's that.

0:39:14.840 --> 0:39:16.359
<v Speaker 4>You know, we'llcome back to her later.

0:39:17.520 --> 0:39:21.200
<v Speaker 14>I think in every event at the screen toime the

0:39:21.280 --> 0:39:25.160
<v Speaker 14>name Taylor Swift and Beyonce. But you can't three words

0:39:25.200 --> 0:39:31.000
<v Speaker 14>that you can't have a screen time without so bts. Obviously,

0:39:31.120 --> 0:39:35.600
<v Speaker 14>this amazing band, Global Reach put K pop. I think

0:39:35.760 --> 0:39:39.879
<v Speaker 14>just as a became a household word, but they didn't

0:39:39.920 --> 0:39:42.040
<v Speaker 14>do it on their own, right, Brent and and the

0:39:42.120 --> 0:39:44.520
<v Speaker 14>guy who actually made them has a new thing.

0:39:45.080 --> 0:39:47.160
<v Speaker 13>Right because the O didn't know about BTS. They're on

0:39:47.239 --> 0:39:47.959
<v Speaker 13>pod right now.

0:39:47.960 --> 0:39:50.640
<v Speaker 8>Right, So BTS not just to make sure we're confusing

0:39:50.680 --> 0:39:53.040
<v Speaker 8>her audience, not ones to watch clearly.

0:39:53.040 --> 0:39:54.200
<v Speaker 3>Already is that I've been watched.

0:39:54.239 --> 0:39:54.959
<v Speaker 9>Many have been watched.

0:39:55.000 --> 0:39:59.040
<v Speaker 8>Many have been watched. But yes, the so, the the

0:39:59.840 --> 0:40:05.200
<v Speaker 8>the mogul behind BTS. His name is Bong. He even

0:40:05.280 --> 0:40:07.759
<v Speaker 8>at their height when they were, you know, selling out

0:40:07.800 --> 0:40:11.200
<v Speaker 8>arenas all over the world, Like any good executive has

0:40:11.239 --> 0:40:13.640
<v Speaker 8>to start thinking about life after. You know, this man

0:40:13.760 --> 0:40:16.160
<v Speaker 8>and all boy bands go through cycles. There isn't a

0:40:16.200 --> 0:40:18.960
<v Speaker 8>boy band you can name that didn't have a huge

0:40:19.040 --> 0:40:21.960
<v Speaker 8>peak and then a huge valley. So what is his

0:40:22.120 --> 0:40:24.040
<v Speaker 8>next act? So he's kind of trying to do a

0:40:24.120 --> 0:40:27.360
<v Speaker 8>multi prong strategy, and we had Lucas Shaw and so

0:40:27.480 --> 0:40:29.920
<v Speaker 8>he can sort of look at this strategy for the magazine.

0:40:30.640 --> 0:40:33.560
<v Speaker 8>So they're trying to build basically a music tech company.

0:40:33.719 --> 0:40:36.400
<v Speaker 8>They've launched an app that they hope will better connect

0:40:36.520 --> 0:40:41.759
<v Speaker 8>fans and bands, and the other thing they're doing is

0:40:41.920 --> 0:40:45.279
<v Speaker 8>in La they have a they're basically trying to put

0:40:45.320 --> 0:40:48.080
<v Speaker 8>together a new BTS. But it's gonna be a girl group,

0:40:48.760 --> 0:40:52.880
<v Speaker 8>and they're drawing in people with women from basically all

0:40:52.920 --> 0:40:57.400
<v Speaker 8>over the world, So they have people from Brazil, Sweden, China,

0:40:57.719 --> 0:41:02.160
<v Speaker 8>US all here, all trying to be the next big

0:41:03.280 --> 0:41:03.719
<v Speaker 8>girl band.

0:41:04.040 --> 0:41:06.880
<v Speaker 13>So they've got that going on and that tryouts are underway.

0:41:06.920 --> 0:41:09.839
<v Speaker 8>Tryouts are underway. They've already eliminated I believe you get

0:41:09.960 --> 0:41:14.240
<v Speaker 8>voted off the island. It's there's a Netflix documentary about

0:41:14.280 --> 0:41:18.160
<v Speaker 8>it that will air next year. They are basically voting

0:41:18.200 --> 0:41:21.759
<v Speaker 8>people off the island and people can vote so on

0:41:22.160 --> 0:41:24.920
<v Speaker 8>so wea versus you know that can vote through Weaverse

0:41:25.920 --> 0:41:29.319
<v Speaker 8>and YouTube and TikTok and they are solely eliminating people.

0:41:29.360 --> 0:41:31.680
<v Speaker 8>And they are going to eventually form a group, and

0:41:31.760 --> 0:41:33.960
<v Speaker 8>then this group is going to record an album and tour.

0:41:34.120 --> 0:41:37.360
<v Speaker 8>And he's hoping that they can export this model basically

0:41:37.560 --> 0:41:39.480
<v Speaker 8>to other cities so they can say, okay, this is

0:41:39.520 --> 0:41:41.759
<v Speaker 8>it's called Dream Academy, and the IPE they can take

0:41:41.800 --> 0:41:44.719
<v Speaker 8>Dream Academy and say, let's do Dream Academy. I don't

0:41:44.760 --> 0:41:47.560
<v Speaker 8>know Berlin, Let's do Dream Academy, sell Paula like, they're

0:41:47.600 --> 0:41:49.719
<v Speaker 8>just going to try to export this model once they

0:41:49.800 --> 0:41:52.040
<v Speaker 8>have it down. That thinking is, hey, this works we'll

0:41:52.120 --> 0:41:52.800
<v Speaker 8>just replicate it.

0:41:53.160 --> 0:41:55.760
<v Speaker 3>We'll see, Hey, Joel, Well go ahead.

0:41:55.880 --> 0:41:57.920
<v Speaker 14>Oh, I just I think that is like such an

0:41:57.960 --> 0:42:02.800
<v Speaker 14>amazing experiment because we've seen how how a band like

0:42:02.840 --> 0:42:05.439
<v Speaker 14>this you create it right, and it can hold pop

0:42:05.480 --> 0:42:08.759
<v Speaker 14>culture for five plus years and drive it.

0:42:09.160 --> 0:42:11.080
<v Speaker 8>Yeah, it's interesting because you know, you were talking about

0:42:11.120 --> 0:42:13.279
<v Speaker 8>this movie that Taylor Swift is coming out with and

0:42:13.400 --> 0:42:15.000
<v Speaker 8>Beyonce is doing one, and I ask.

0:42:14.880 --> 0:42:17.200
<v Speaker 4>Who is this tailor you speak Tyler is Swift?

0:42:17.360 --> 0:42:19.640
<v Speaker 8>Yes, perhaps you've heard of her, Carrol kind of a

0:42:19.680 --> 0:42:22.800
<v Speaker 8>big deal. I was tagging at Brooke Michael Kaine this

0:42:22.840 --> 0:42:24.840
<v Speaker 8>morning and I said, you know who else could do this?

0:42:25.480 --> 0:42:26.640
<v Speaker 3>The third band she.

0:42:26.719 --> 0:42:29.759
<v Speaker 8>Mentioned was Black Pank, huge, huge K pop band. She's

0:42:29.920 --> 0:42:31.680
<v Speaker 8>that's the only other one she thought could do this,

0:42:31.840 --> 0:42:34.440
<v Speaker 8>So there actually is a tie in there. And you know,

0:42:34.719 --> 0:42:37.600
<v Speaker 8>I think that they're hoping this they this new band

0:42:37.600 --> 0:42:38.439
<v Speaker 8>can rise to that level.

0:42:39.160 --> 0:42:41.640
<v Speaker 14>But you think about creating a model like this right

0:42:41.760 --> 0:42:45.160
<v Speaker 14>where it becomes its own franchise, and you can not

0:42:45.320 --> 0:42:47.399
<v Speaker 14>only do it once, but you could replicate that again

0:42:47.400 --> 0:42:51.279
<v Speaker 14>and again. You basically create your own little engine. And

0:42:51.400 --> 0:42:53.120
<v Speaker 14>I think that's a really interesting thing and it speaks

0:42:53.120 --> 0:42:56.080
<v Speaker 14>to you know, let's let's properly bring it back to Taylor,

0:42:56.600 --> 0:43:02.680
<v Speaker 14>you know well, and like it shows what fandom looks

0:43:02.800 --> 0:43:05.560
<v Speaker 14>like now and in pop culture, it's like you can

0:43:05.680 --> 0:43:08.480
<v Speaker 14>have that relationship with an artist in a way that

0:43:08.640 --> 0:43:11.800
<v Speaker 14>I don't think we've ever quite seen it happen like this.

0:43:11.960 --> 0:43:13.640
<v Speaker 14>I mean, it's one thing when you think back about

0:43:13.680 --> 0:43:15.279
<v Speaker 14>what the Beatles were able to do in that moment

0:43:15.320 --> 0:43:17.960
<v Speaker 14>in time, but like there's an intimacy now that I think,

0:43:18.080 --> 0:43:21.800
<v Speaker 14>especially with Taylor, where she like turns her vulnerabilities into

0:43:22.840 --> 0:43:26.440
<v Speaker 14>like business success, right, and you know, we have this

0:43:26.719 --> 0:43:29.440
<v Speaker 14>story and the issue, but what she's basically done by

0:43:29.480 --> 0:43:32.960
<v Speaker 14>re recording her own albums to make sure that she

0:43:33.200 --> 0:43:36.120
<v Speaker 14>retains those rights because she didn't like how that naive

0:43:36.200 --> 0:43:39.279
<v Speaker 14>was going. It's like she she's not done with that yet, right,

0:43:39.400 --> 0:43:43.680
<v Speaker 14>And everyone listens to that new drop, and her fans

0:43:43.840 --> 0:43:47.239
<v Speaker 14>will do everything for her, go to the theater or

0:43:47.320 --> 0:43:50.040
<v Speaker 14>go to the concerts where tickets are upwards of one

0:43:50.080 --> 0:43:53.720
<v Speaker 14>thousand dollars. And now like AMC has to like release

0:43:53.760 --> 0:43:56.120
<v Speaker 14>the movie a day early because they were also that

0:43:56.160 --> 0:43:58.520
<v Speaker 14>we already right, that's yeah.

0:43:58.760 --> 0:44:00.920
<v Speaker 8>It is kind of fascinating though that you're right, Taylor

0:44:00.920 --> 0:44:03.200
<v Speaker 8>has come up in almost every talk I've heard. But

0:44:03.360 --> 0:44:06.120
<v Speaker 8>the flip side of that coin is whenever it looks

0:44:06.200 --> 0:44:08.440
<v Speaker 8>like she's about to pioneer or new model that other

0:44:08.520 --> 0:44:11.239
<v Speaker 8>people think, oh well, let's just do that, who'll say

0:44:12.120 --> 0:44:14.320
<v Speaker 8>Taylor can do it because she's tailor sweating. I mean that,

0:44:14.600 --> 0:44:16.920
<v Speaker 8>So don't get ahead yourself. Don't start thinking that you

0:44:17.000 --> 0:44:19.399
<v Speaker 8>can do a you know, a concert of what any

0:44:19.480 --> 0:44:21.760
<v Speaker 8>other band and they'll sell out movie theaters.

0:44:22.040 --> 0:44:24.320
<v Speaker 3>Joel I wanted to say it's a screen time issue,

0:44:24.440 --> 0:44:29.839
<v Speaker 3>but a story about bonds snuck into the hood. Okay, yeah,

0:44:30.120 --> 0:44:34.080
<v Speaker 3>actually it's actually a super fascinating story. Did there's a

0:44:34.120 --> 0:44:36.279
<v Speaker 3>couple if you guys have an editor or where, Yeah

0:44:36.320 --> 0:44:36.680
<v Speaker 3>as well?

0:44:36.800 --> 0:44:40.400
<v Speaker 14>Yeah, look, we we have to talk about everything in

0:44:40.480 --> 0:44:42.680
<v Speaker 14>the world, I mean, and look like we we'd be

0:44:42.760 --> 0:44:46.000
<v Speaker 14>remiss to not talk about what's happening in Israel too, right,

0:44:46.120 --> 0:44:48.000
<v Speaker 14>But you know she has also come up a lot

0:44:48.120 --> 0:44:51.440
<v Speaker 14>in the financial markets, what's happened in fixed income and bonds.

0:44:51.480 --> 0:44:54.120
<v Speaker 14>It's like, look like this bond again again. Thing turns

0:44:54.120 --> 0:44:56.320
<v Speaker 14>out it's really bad. And that story is about this

0:44:56.480 --> 0:44:59.640
<v Speaker 14>goes back two hundred and fifty odd years. People haven't

0:44:59.680 --> 0:45:01.719
<v Speaker 14>seen it be this back for a really long time.

0:45:01.800 --> 0:45:03.040
<v Speaker 4>You should have seen the face of Drew A.

0:45:03.120 --> 0:45:04.360
<v Speaker 2>Wallow and we said, so, where do you think the

0:45:04.400 --> 0:45:07.480
<v Speaker 2>ten year is going to go? Yes, when we're just kidding,

0:45:07.840 --> 0:45:10.240
<v Speaker 2>Joe Webber, Brettbeacon. It's a great new issue of Bloomberg

0:45:10.280 --> 0:45:12.000
<v Speaker 2>Business Week. It's a screen time issue.

0:45:14.160 --> 0:45:20.520
<v Speaker 3>I'm brother Marca, a journal. How about you let me drive?

0:45:20.800 --> 0:45:22.640
<v Speaker 6>Oh no, no, no, no, please gone.

0:45:22.400 --> 0:45:26.120
<v Speaker 3>And drive, honey, please, I'll do the gravel.

0:45:26.719 --> 0:45:28.040
<v Speaker 11>Let's wat I want to drive.

0:45:28.080 --> 0:45:31.160
<v Speaker 8>It's a good question.

0:45:35.040 --> 0:45:37.640
<v Speaker 1>This is the drive to the Globes dot com.

0:45:38.120 --> 0:45:41.440
<v Speaker 11>Think we'll buy around yold it on Bloomberg Radio.

0:45:43.640 --> 0:45:46.040
<v Speaker 2>All right, everybody just got under eighteen minutes left in

0:45:46.120 --> 0:45:49.040
<v Speaker 2>today's trading session. You are listening and watching Bloomberg Business

0:45:49.080 --> 0:45:51.399
<v Speaker 2>Week live on the West Coast at Bloomberg screen Time.

0:45:52.200 --> 0:45:53.960
<v Speaker 4>Tim Steneviek and Carol Massive.

0:45:54.320 --> 0:45:55.279
<v Speaker 3>That's me, that is you.

0:45:55.719 --> 0:45:57.440
<v Speaker 4>What a fun conversation with Drew Wallow.

0:45:57.560 --> 0:45:59.320
<v Speaker 3>Yeah, it's really good, really cool stuff. Hey you know

0:45:59.320 --> 0:46:00.319
<v Speaker 3>who else is on the West Coast?

0:46:01.280 --> 0:46:01.520
<v Speaker 4>Yeah?

0:46:02.200 --> 0:46:05.360
<v Speaker 3>Yeah, Russ Gerber. He's president CEO of the Santa Monica

0:46:05.440 --> 0:46:08.799
<v Speaker 3>based Gerbert Kawasaki Wealth and Investment Management. I've had about

0:46:08.800 --> 0:46:11.640
<v Speaker 3>two point three billion dollars in assets under management. They've

0:46:11.640 --> 0:46:15.120
<v Speaker 3>also gotten actively managed advisor shares gerber Kawasaki ETPP. It's

0:46:15.160 --> 0:46:16.640
<v Speaker 3>been around for a couple of years. It's got a

0:46:16.680 --> 0:46:19.880
<v Speaker 3>market cap about seventeen million dollars. Ross joins us this

0:46:19.920 --> 0:46:21.759
<v Speaker 3>afternoon from Santa Monica. Ross, how are you.

0:46:22.719 --> 0:46:24.719
<v Speaker 11>I'm good. I heard you're in LA and you didn't

0:46:24.840 --> 0:46:25.719
<v Speaker 11>come by and say hi.

0:46:27.960 --> 0:46:29.560
<v Speaker 3>I know, and you know I was in Sana. I

0:46:29.640 --> 0:46:32.560
<v Speaker 3>was in Santa Monica last night. It's beautiful. It's beautiful.

0:46:32.600 --> 0:46:35.200
<v Speaker 3>But next time we're here, come visit us in person.

0:46:36.080 --> 0:46:38.040
<v Speaker 2>I well talked to us about the market environment and

0:46:38.120 --> 0:46:40.640
<v Speaker 2>what's what's interesting for you at this point, is it

0:46:40.840 --> 0:46:41.920
<v Speaker 2>is it a little bit challenging?

0:46:43.800 --> 0:46:44.360
<v Speaker 11>Yes and no.

0:46:44.920 --> 0:46:47.640
<v Speaker 15>You know, I actually like this environment because I think

0:46:47.680 --> 0:46:50.239
<v Speaker 15>the FED is well over, Donnette. So you know, we

0:46:50.480 --> 0:46:53.399
<v Speaker 15>were seeing peak rates in here, and we haven't seen

0:46:53.400 --> 0:46:55.960
<v Speaker 15>the economy roll over. The economy continues to be strong,

0:46:56.280 --> 0:46:59.240
<v Speaker 15>and so we're expecting a much better than expected earnings

0:46:59.280 --> 0:47:01.600
<v Speaker 15>report for Q three here, and then as we move

0:47:01.640 --> 0:47:04.800
<v Speaker 15>into Q four, you know, once again, I think the

0:47:04.920 --> 0:47:08.120
<v Speaker 15>economy is pretty solid here. So you know, if the

0:47:08.160 --> 0:47:11.440
<v Speaker 15>FED really gives us more clarity and backing away from

0:47:11.520 --> 0:47:16.960
<v Speaker 15>this constantly rising interest rate bearish hawkish talk. I think

0:47:17.000 --> 0:47:20.480
<v Speaker 15>it would really be a great potential environment for the

0:47:20.560 --> 0:47:22.000
<v Speaker 15>economy going into next year.

0:47:22.080 --> 0:47:23.560
<v Speaker 11>So, you know, I'm bullish.

0:47:23.600 --> 0:47:24.000
<v Speaker 3>I like this.

0:47:24.120 --> 0:47:26.640
<v Speaker 15>It's one year anniversary of when the bull market started.

0:47:26.719 --> 0:47:30.600
<v Speaker 15>Technically we're up nicely since then, and I expect that

0:47:30.680 --> 0:47:31.520
<v Speaker 15>to continue over.

0:47:31.400 --> 0:47:32.239
<v Speaker 11>The next couple of years.

0:47:34.440 --> 0:47:36.080
<v Speaker 3>Yeah, but Ross, you said that the FED you think

0:47:36.080 --> 0:47:37.680
<v Speaker 3>has overdone it. I mean, do you think they've overdone

0:47:37.680 --> 0:47:39.000
<v Speaker 3>it to the extent that something out there is going

0:47:39.040 --> 0:47:39.319
<v Speaker 3>to break?

0:47:40.719 --> 0:47:43.879
<v Speaker 15>Well, the biggest risk to me is commercial real estate

0:47:44.160 --> 0:47:48.800
<v Speaker 15>and who owns the debt on commercial real estate because that,

0:47:49.200 --> 0:47:51.960
<v Speaker 15>you know, has a secular change with offices not being

0:47:52.080 --> 0:47:55.320
<v Speaker 15>very popular among the youth, on top of a tremendous

0:47:55.320 --> 0:47:59.760
<v Speaker 15>amount of overbuilding and leverage. So you know, as bonds mature,

0:48:00.400 --> 0:48:02.720
<v Speaker 15>you know, with interest rates of two to three percent

0:48:03.040 --> 0:48:05.359
<v Speaker 15>and need to be refinanced, especially in the real estate

0:48:05.480 --> 0:48:08.239
<v Speaker 15>sector now at eight, nine, ten percent rates, I mean,

0:48:08.280 --> 0:48:11.320
<v Speaker 15>these will all go into default. So so the damage

0:48:11.360 --> 0:48:14.520
<v Speaker 15>the FED is done hasn't actually been felt yet in

0:48:14.640 --> 0:48:17.680
<v Speaker 15>the economy. It's going to take years because they froze

0:48:17.719 --> 0:48:20.560
<v Speaker 15>the real estate market with such a rapid increase in rates,

0:48:20.760 --> 0:48:23.120
<v Speaker 15>and so we really won't know how much damage and

0:48:23.160 --> 0:48:25.320
<v Speaker 15>who will really fall. But we've seen it in companies

0:48:25.400 --> 0:48:27.719
<v Speaker 15>like Hudson Pacific Properties, which owns a lot of real

0:48:27.800 --> 0:48:30.279
<v Speaker 15>estate here in LA and the stocks down, you know,

0:48:30.400 --> 0:48:31.600
<v Speaker 15>seventy five eighty.

0:48:31.400 --> 0:48:33.719
<v Speaker 11>Percent really being in commercial real estate.

0:48:34.200 --> 0:48:36.120
<v Speaker 15>So you know, I think the fed's caused a lot

0:48:36.160 --> 0:48:38.680
<v Speaker 15>of damage to the economy and it'll take years to

0:48:38.760 --> 0:48:39.040
<v Speaker 15>fix it.

0:48:41.200 --> 0:48:41.399
<v Speaker 1>Ross.

0:48:41.440 --> 0:48:43.440
<v Speaker 2>Something we always talk a lot about is Tesla with you.

0:48:44.000 --> 0:48:46.400
<v Speaker 2>I believe it's still the top holding in your fund

0:48:46.640 --> 0:48:49.040
<v Speaker 2>and you you know, we've talked about the car itself,

0:48:49.120 --> 0:48:53.000
<v Speaker 2>we've talked about the individual Elon Musk of course behind Tesla,

0:48:53.040 --> 0:48:54.120
<v Speaker 2>and we've talked about the company.

0:48:54.880 --> 0:48:58.000
<v Speaker 4>And I'm assuming you still like it. You like the car.

0:48:58.400 --> 0:49:00.759
<v Speaker 2>What was interesting here at screen time we're walking into

0:49:00.800 --> 0:49:02.680
<v Speaker 2>the event and it's kind of a whole experience and

0:49:02.760 --> 0:49:05.600
<v Speaker 2>as you walk in, you're passing some really cool cars

0:49:05.680 --> 0:49:08.839
<v Speaker 2>and that includes some other evs like the BMW EV

0:49:09.040 --> 0:49:11.440
<v Speaker 2>and it's just a reminder that you know, a few

0:49:11.520 --> 0:49:13.800
<v Speaker 2>years ago, Elon kind of had this space, certainly the

0:49:13.880 --> 0:49:15.600
<v Speaker 2>high end EV space to himself.

0:49:16.040 --> 0:49:20.120
<v Speaker 4>It's a different game today. You know what what changes your.

0:49:20.120 --> 0:49:23.560
<v Speaker 2>Mind, if anything ultimately about the company.

0:49:23.239 --> 0:49:23.680
<v Speaker 4>And the car.

0:49:25.440 --> 0:49:28.000
<v Speaker 15>Well, you know, to start off with what you started with,

0:49:28.280 --> 0:49:30.880
<v Speaker 15>I one hundred percent agreed. You know, even my partners

0:49:30.880 --> 0:49:33.640
<v Speaker 15>here at GK have diversified. So one of my partners

0:49:33.680 --> 0:49:36.040
<v Speaker 15>has the I seven and the other one another one

0:49:36.120 --> 0:49:38.120
<v Speaker 15>has a Rivian now, and so we park next to

0:49:38.120 --> 0:49:41.399
<v Speaker 15>each other, my plaid next to the I seven, next

0:49:41.480 --> 0:49:42.440
<v Speaker 15>to the Rivian.

0:49:42.920 --> 0:49:46.440
<v Speaker 11>Uh it's I think it's the RS one And they're.

0:49:46.239 --> 0:49:49.840
<v Speaker 15>All great cars, you know, Like I really like the Rivians,

0:49:49.840 --> 0:49:52.520
<v Speaker 15>and in La, the Rivian is becoming like what Tesla

0:49:52.880 --> 0:49:55.919
<v Speaker 15>was as like the cool higher end car to own,

0:49:56.760 --> 0:49:59.000
<v Speaker 15>and Tesla is I think, are now priced the same

0:49:59.080 --> 0:50:02.120
<v Speaker 15>price as Prius, and I think people look at the

0:50:02.160 --> 0:50:05.759
<v Speaker 15>model why much more like a normal like Preus kind

0:50:05.800 --> 0:50:08.759
<v Speaker 15>of car, which is good and bad you know for

0:50:09.000 --> 0:50:09.719
<v Speaker 15>Tesla's brand.

0:50:10.239 --> 0:50:14.640
<v Speaker 11>So you know, as Tesla moves forward, they have to.

0:50:14.680 --> 0:50:18.160
<v Speaker 15>Accept that the competition is actually exists now and is

0:50:18.200 --> 0:50:21.480
<v Speaker 15>pretty good, and it is affecting their sales.

0:50:21.800 --> 0:50:22.640
<v Speaker 11>I don't think there's.

0:50:22.440 --> 0:50:28.880
<v Speaker 2>Any doubt, but you still think it's worth owning. It's

0:50:28.920 --> 0:50:32.720
<v Speaker 2>obviously a big holding. You're still in for the long.

0:50:32.600 --> 0:50:36.239
<v Speaker 11>Run, Oh absolutely. I mean, you know, one must look

0:50:36.239 --> 0:50:38.880
<v Speaker 11>at Tesla as the whole. So we're going to sell.

0:50:38.719 --> 0:50:41.640
<v Speaker 15>Almost two million evs this year, and we're going to

0:50:41.719 --> 0:50:44.640
<v Speaker 15>launch the cyber truck hopefully any day, and the cyber

0:50:44.719 --> 0:50:47.840
<v Speaker 15>truck will be, you know, an incredibly impactful vehicle and

0:50:47.960 --> 0:50:51.440
<v Speaker 15>also helped sell other Teslas as well, so we will

0:50:51.480 --> 0:50:54.040
<v Speaker 15>see an increase in production going into next year. And

0:50:54.160 --> 0:50:58.279
<v Speaker 15>then the three other businesses that Tesla I'm super excited about.

0:50:58.320 --> 0:51:01.440
<v Speaker 11>One being charging. They are the dominant player in charging.

0:51:01.520 --> 0:51:04.160
<v Speaker 15>There is nobody even close to them in charging, and

0:51:04.280 --> 0:51:07.680
<v Speaker 15>they will like have probably a monopoly on charging in

0:51:07.800 --> 0:51:10.959
<v Speaker 15>this country maybe globally. Then you have energy storage, which

0:51:11.040 --> 0:51:15.080
<v Speaker 15>is like this massive opportunity and it's been super helpful

0:51:15.160 --> 0:51:18.799
<v Speaker 15>in La and Texas. For example, in California have had

0:51:18.960 --> 0:51:23.360
<v Speaker 15>you know, benefits from putting in battery storage and keeping

0:51:23.400 --> 0:51:26.480
<v Speaker 15>our grid you know, solid during a really hot summer.

0:51:26.760 --> 0:51:28.440
<v Speaker 11>And then the third is full self.

0:51:28.320 --> 0:51:31.760
<v Speaker 15>Driving, which you know, actually yesterday I saw a Waymo

0:51:31.880 --> 0:51:34.200
<v Speaker 15>car driving next to me with no driver and that's

0:51:34.200 --> 0:51:36.879
<v Speaker 15>the first time I've seen a Waymo car not having

0:51:36.920 --> 0:51:40.759
<v Speaker 15>a driver. In Santa Monica, in heavy traffic area where

0:51:40.800 --> 0:51:42.959
<v Speaker 15>I use full self driving, and I was actually fairly

0:51:43.040 --> 0:51:46.520
<v Speaker 15>impressed that it was doing this because, you know, quite frankly,

0:51:46.840 --> 0:51:49.520
<v Speaker 15>it's dangerous. You know, there's a lot of people around,

0:51:49.520 --> 0:51:51.160
<v Speaker 15>a lot of a lot of kids walking around, so

0:51:52.640 --> 0:51:53.600
<v Speaker 15>you know, full self.

0:51:53.360 --> 0:51:56.839
<v Speaker 3>Maybe got lost way, you know, from from the bay. Yeah,

0:51:56.960 --> 0:51:58.319
<v Speaker 3>maybe got lost on the way from the bay.

0:51:58.800 --> 0:51:59.160
<v Speaker 15>I don't know.

0:51:59.320 --> 0:52:01.200
<v Speaker 3>I mean it was I'm just talking about honestly.

0:52:02.360 --> 0:52:04.239
<v Speaker 11>So yeah, I think full self driving is a real thing.

0:52:04.320 --> 0:52:04.440
<v Speaker 2>There.

0:52:04.680 --> 0:52:05.440
<v Speaker 4>Did you move away?

0:52:06.520 --> 0:52:09.480
<v Speaker 11>No, I got closer. I wanted to. I wanted to

0:52:10.239 --> 0:52:11.920
<v Speaker 11>like watch it work through it was.

0:52:12.239 --> 0:52:14.120
<v Speaker 15>I was right by the pier where it's like kind

0:52:14.120 --> 0:52:17.200
<v Speaker 15>of crazy, so but I was turning, so I didn't

0:52:17.200 --> 0:52:19.799
<v Speaker 15>get to actually see it navigate through some difficult stuff.

0:52:19.680 --> 0:52:20.120
<v Speaker 13>But it did.

0:52:20.239 --> 0:52:23.279
<v Speaker 15>Nobody got run over. So full self driving is coming,

0:52:23.320 --> 0:52:25.880
<v Speaker 15>whether it be Weimo or Tasla. You know, a lot

0:52:25.880 --> 0:52:28.040
<v Speaker 15>of people think this is much farther away than it

0:52:28.080 --> 0:52:29.320
<v Speaker 15>really is, but it's it's not.

0:52:31.560 --> 0:52:33.480
<v Speaker 3>Okay, Ross, we onlyave up with thirty seconds left. But

0:52:33.600 --> 0:52:35.440
<v Speaker 3>just give me some comments on the ETF, which you

0:52:35.520 --> 0:52:37.080
<v Speaker 3>came on our program a couple of years ago. When

0:52:37.080 --> 0:52:38.799
<v Speaker 3>you launched it, I was surprised to see it's only

0:52:38.840 --> 0:52:41.640
<v Speaker 3>got about seventeen million dollars in assets in it right now.

0:52:41.680 --> 0:52:43.320
<v Speaker 3>What's what's holding me back from bringing more in?

0:52:44.719 --> 0:52:47.720
<v Speaker 15>Well, you know, we started at the top of the market,

0:52:47.840 --> 0:52:50.600
<v Speaker 15>so that was no great timing, you know thing, which

0:52:50.680 --> 0:52:54.800
<v Speaker 15>is really typical actually starting ETFs, because you get everybody

0:52:54.880 --> 0:52:56.600
<v Speaker 15>wants you to do it when you're at the top

0:52:56.680 --> 0:52:58.800
<v Speaker 15>of your game, right, And then we went through a

0:52:58.880 --> 0:53:00.840
<v Speaker 15>very difficult year, so our perform it kind of sucked

0:53:00.840 --> 0:53:03.719
<v Speaker 15>in year one. In our second year we sort of

0:53:03.960 --> 0:53:06.840
<v Speaker 15>started really making back funds and moving forward into this

0:53:07.000 --> 0:53:09.440
<v Speaker 15>calendar year, we've had a pretty good year. So I

0:53:09.520 --> 0:53:12.240
<v Speaker 15>think we just need growth back and people will invest

0:53:12.320 --> 0:53:13.160
<v Speaker 15>in the ATF, you know.

0:53:14.000 --> 0:53:17.879
<v Speaker 2>Yeah, so appreciate it. Listen, ros Garber, thank you so much. Yeah,

0:53:17.920 --> 0:53:19.960
<v Speaker 2>the fund is up about thirteen percent so far here

0:53:20.239 --> 0:53:21.239
<v Speaker 2>in twenty twenty three.

0:53:21.400 --> 0:53:22.160
<v Speaker 4>This is Bloomberg.

0:53:22.960 --> 0:53:27.560
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0:53:27.719 --> 0:53:28.720
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