1 00:00:01,080 --> 00:00:05,120 Speaker 1: This is the Business of Sports from Bloomberg Radio. Hi everyone, 2 00:00:05,160 --> 00:00:08,080 Speaker 1: I'm Jason Kelly, and I'm Mike Lynch and I'm Michael Barr. 3 00:00:08,200 --> 00:00:11,160 Speaker 1: And this is the Bloomberg Business of Sports podcast, where 4 00:00:11,200 --> 00:00:13,560 Speaker 1: we explore the big money issues in the world of sports. 5 00:00:13,600 --> 00:00:17,520 Speaker 1: Today we are speaking with hyper I CEO Jim Heather. 6 00:00:17,760 --> 00:00:21,599 Speaker 1: Hyper Rice is a sports technology company that specializes in 7 00:00:21,720 --> 00:00:25,799 Speaker 1: performance recovery products and just last week and announced a 8 00:00:25,840 --> 00:00:29,560 Speaker 1: new multi year sponsorship deal with the NFL. Jim Either, 9 00:00:29,680 --> 00:00:33,720 Speaker 1: Welcome to the podcast, sir, Thank you, appreciate, love the podcast, 10 00:00:33,800 --> 00:00:36,080 Speaker 1: love the show. You guys do tremendous jobs. So thrilled 11 00:00:36,080 --> 00:00:39,120 Speaker 1: to beyond today. Well, Jim, thank you so much. It 12 00:00:39,240 --> 00:00:41,800 Speaker 1: is really great to talk to you and timely. As 13 00:00:41,840 --> 00:00:44,400 Speaker 1: Michael just said, a big deal with the NFL. Let's 14 00:00:44,440 --> 00:00:47,920 Speaker 1: start there because that really rounds out kind of the 15 00:00:47,960 --> 00:00:52,240 Speaker 1: big three for you in terms of deals with Major 16 00:00:52,280 --> 00:00:55,920 Speaker 1: League Baseball, the NFL, and the NBA. What's the idea 17 00:00:55,960 --> 00:01:01,280 Speaker 1: behind partnering with these big professional sports leagues. Yeah, and 18 00:01:01,280 --> 00:01:05,039 Speaker 1: these are these are really interesting because you know, obviously 19 00:01:05,640 --> 00:01:08,880 Speaker 1: there is the value that most people see on the surface, 20 00:01:08,920 --> 00:01:12,280 Speaker 1: which is very important as well. We're increasing the longevity. 21 00:01:12,319 --> 00:01:15,679 Speaker 1: We're increasing the performance of the athletes. And when you 22 00:01:15,720 --> 00:01:20,080 Speaker 1: do that through technology, obviously you're you're benefiting a variety 23 00:01:20,120 --> 00:01:23,640 Speaker 1: of different constituents. You have the team, which of course, 24 00:01:23,920 --> 00:01:27,200 Speaker 1: if you're providing recovery technology and keeping their lead athletes 25 00:01:27,200 --> 00:01:30,120 Speaker 1: on the field, you're, um, you know, creating a competitive 26 00:01:30,120 --> 00:01:32,400 Speaker 1: advantage for them and allowing them to compete at the 27 00:01:32,440 --> 00:01:35,919 Speaker 1: highest levels. UM. It benefits the athlete of course, because 28 00:01:35,920 --> 00:01:37,880 Speaker 1: if we can keep them on the field performing at 29 00:01:37,880 --> 00:01:40,319 Speaker 1: the highest level, that's a win. UM. And then of 30 00:01:40,360 --> 00:01:43,520 Speaker 1: course the league, the product they put on the field 31 00:01:44,120 --> 00:01:46,840 Speaker 1: is highly predicated on the athletes that are you know, 32 00:01:46,920 --> 00:01:49,280 Speaker 1: playing on the field. So if we can if we 33 00:01:49,320 --> 00:01:52,760 Speaker 1: can increase competition and increase performance from that perspective, the 34 00:01:52,880 --> 00:01:56,240 Speaker 1: ratings boom, and obviously the networks appreciate that as well. 35 00:01:56,280 --> 00:01:59,600 Speaker 1: So there's a lot of of wins here in providing 36 00:02:00,080 --> 00:02:04,480 Speaker 1: technology and methodology to help enhance performance and recovery. UM. 37 00:02:04,600 --> 00:02:07,720 Speaker 1: But the big picture when really for everybody is the 38 00:02:07,800 --> 00:02:11,760 Speaker 1: general consumer. Teaching people about these technologies that are being 39 00:02:12,040 --> 00:02:14,760 Speaker 1: being used by the world's most lead athletes and how 40 00:02:14,800 --> 00:02:18,320 Speaker 1: they can benefit the everyday consumer. And for this deal 41 00:02:18,360 --> 00:02:21,240 Speaker 1: in particular, it was great to see that the NFL 42 00:02:21,960 --> 00:02:24,200 Speaker 1: UM not only cares about their athletes, but they care 43 00:02:24,240 --> 00:02:27,560 Speaker 1: about their consumer, the NFL consumer, and how we can 44 00:02:27,560 --> 00:02:30,480 Speaker 1: teach them about health and wellness and how we can 45 00:02:30,919 --> 00:02:33,440 Speaker 1: you know, teach them about new technology that can help 46 00:02:33,480 --> 00:02:37,720 Speaker 1: improve their lifestyle and enhance performance in their everyday you know, 47 00:02:37,840 --> 00:02:41,280 Speaker 1: work or daily lifestyle. So it's been a pretty incredible 48 00:02:41,360 --> 00:02:44,400 Speaker 1: run of deals for us UH these last five months 49 00:02:44,440 --> 00:02:49,200 Speaker 1: to your point, Major League Baseball, NBA, NFL, the p 50 00:02:49,360 --> 00:02:52,560 Speaker 1: g A, and also the UFC UM and all of 51 00:02:52,639 --> 00:02:57,160 Speaker 1: these were the first ever recovery partner, recovery technology partners 52 00:02:57,160 --> 00:02:59,400 Speaker 1: for all these organizations. It's been a really fun ride. 53 00:02:59,639 --> 00:03:02,520 Speaker 1: Now you have to help an old man here, because 54 00:03:02,520 --> 00:03:05,440 Speaker 1: when I hear recovery products, I think of a zorbean 55 00:03:05,560 --> 00:03:08,120 Speaker 1: junior and you're just rubbing on and you know, the 56 00:03:08,480 --> 00:03:11,480 Speaker 1: flies and chasing you all over the workplace. Man, And 57 00:03:11,560 --> 00:03:15,240 Speaker 1: that's it. Today. Now you have the product hyper Ice. 58 00:03:15,560 --> 00:03:17,600 Speaker 1: Please tell me what that it really is. I mean, 59 00:03:17,600 --> 00:03:20,880 Speaker 1: I know it helps performance recovery, but what what does 60 00:03:20,880 --> 00:03:23,360 Speaker 1: it do? Can you explain more about? Yeah? So, so 61 00:03:23,440 --> 00:03:28,160 Speaker 1: we have a whole suite of technology products and you 62 00:03:28,160 --> 00:03:30,079 Speaker 1: know the story of hyper ice goes back to pro 63 00:03:30,200 --> 00:03:33,200 Speaker 1: athletes since the inception. We we started working early on 64 00:03:33,240 --> 00:03:36,240 Speaker 1: with Kobe Bryant. He actually helped on some of our 65 00:03:36,320 --> 00:03:38,720 Speaker 1: very first product development in the very early stages. So 66 00:03:38,760 --> 00:03:42,280 Speaker 1: we've always had a relationship with a lead organizations and 67 00:03:42,360 --> 00:03:45,080 Speaker 1: athletes that goes back into the very beginning of the 68 00:03:45,120 --> 00:03:47,600 Speaker 1: company UM. And the reason we went there first is 69 00:03:47,640 --> 00:03:50,120 Speaker 1: we knew that the teams would, you know, use the 70 00:03:50,120 --> 00:03:53,560 Speaker 1: best tools and technology, have the best physicians, have the 71 00:03:53,640 --> 00:03:56,800 Speaker 1: best certified athletic trainers, have the best sports performance and 72 00:03:56,880 --> 00:04:00,000 Speaker 1: human performance experts, and we said, look, if we can 73 00:04:00,040 --> 00:04:05,160 Speaker 1: create technology that enhances recovery, promotes movement, UM and helps 74 00:04:05,200 --> 00:04:08,360 Speaker 1: with longevity, and we can prove that this is valuable 75 00:04:08,400 --> 00:04:11,000 Speaker 1: to the most elite athletes on Earth, this could be 76 00:04:11,080 --> 00:04:14,160 Speaker 1: great for the everyday consumer UM. So to answer you 77 00:04:14,160 --> 00:04:17,880 Speaker 1: a question about technology, we really UM kind of narrated 78 00:04:17,920 --> 00:04:21,640 Speaker 1: down into four different buckets. We have a thermal technology line, 79 00:04:21,640 --> 00:04:25,360 Speaker 1: which is heating and cooling UM and our products there, 80 00:04:25,440 --> 00:04:28,520 Speaker 1: the Venom and the ice compression technology which the Venom 81 00:04:28,560 --> 00:04:33,200 Speaker 1: is a wearable device that combines heat and vibration help 82 00:04:33,320 --> 00:04:37,360 Speaker 1: loosen the muscles, reduced soreness, things of that nature promote circulation. 83 00:04:37,760 --> 00:04:41,320 Speaker 1: So we have a thermal technology line, our percussion technology line, 84 00:04:41,440 --> 00:04:43,719 Speaker 1: which many of you have used, the hyper Bolt, which 85 00:04:43,760 --> 00:04:47,039 Speaker 1: is our percussion sage device that kind of took the 86 00:04:47,040 --> 00:04:49,480 Speaker 1: world by storm in two thousand eighteen and is one 87 00:04:49,480 --> 00:04:53,000 Speaker 1: of our most popular products UM. And then the neumatic 88 00:04:53,040 --> 00:04:56,640 Speaker 1: compression line, which we're calling Dynamic Air Compression, which is 89 00:04:56,920 --> 00:04:59,640 Speaker 1: a normal tech line. You've seen the air compression boots 90 00:05:00,279 --> 00:05:04,440 Speaker 1: UH widely used by NFL athletes. And then our vibration 91 00:05:04,520 --> 00:05:07,880 Speaker 1: technology line, which is you know, a line of products 92 00:05:07,880 --> 00:05:12,560 Speaker 1: that helps with mobility, helps to increase circulation and reduce soreness. 93 00:05:12,600 --> 00:05:16,120 Speaker 1: So we really look at a holistic approach to manipulate 94 00:05:16,160 --> 00:05:20,240 Speaker 1: the body, improve the soft tissue UM much like you know, 95 00:05:20,360 --> 00:05:22,800 Speaker 1: we want this to be much like an electronic toothbrush 96 00:05:22,880 --> 00:05:25,520 Speaker 1: where people use this every day to condition their body 97 00:05:25,960 --> 00:05:28,240 Speaker 1: and to be thinking about how important it is to 98 00:05:28,320 --> 00:05:31,799 Speaker 1: maintain your health and overall longevity. So we have six 99 00:05:31,839 --> 00:05:34,280 Speaker 1: award winning products and those are kind of the four 100 00:05:34,320 --> 00:05:36,960 Speaker 1: different categories that we live in. Hi, Jim, this is 101 00:05:37,000 --> 00:05:39,919 Speaker 1: Mike lynch Up in Boston. I'm writing my letter to 102 00:05:39,960 --> 00:05:45,039 Speaker 1: Santa Claus. Right here at the number one is the 103 00:05:45,120 --> 00:05:51,159 Speaker 1: hyperboles UM. In addition to your partnership with the National 104 00:05:51,360 --> 00:05:54,839 Speaker 1: Football League, you also have some investors who are playing 105 00:05:54,880 --> 00:05:57,240 Speaker 1: big names of the National Football leagu Patrick Mahomes j 106 00:05:57,400 --> 00:05:59,360 Speaker 1: J watch just the name too, and I'm I'm sure 107 00:05:59,400 --> 00:06:01,599 Speaker 1: there's a long line of would be investors. How do 108 00:06:01,600 --> 00:06:03,960 Speaker 1: you decide which of these players is a good fit 109 00:06:04,080 --> 00:06:08,760 Speaker 1: for you as an investor? Great question, and for for us, 110 00:06:08,880 --> 00:06:13,520 Speaker 1: we really like the model of having elite athletes invest 111 00:06:13,600 --> 00:06:16,680 Speaker 1: in the company as opposed to just traditional endorsement deals 112 00:06:16,680 --> 00:06:19,760 Speaker 1: because we think it it ties them authentically with the 113 00:06:19,800 --> 00:06:22,400 Speaker 1: brand and it allows us to go a little bit 114 00:06:22,440 --> 00:06:25,080 Speaker 1: deeper with the athletes. It allows them to engage with 115 00:06:25,160 --> 00:06:29,160 Speaker 1: them on product development to help understand what new modalities 116 00:06:29,240 --> 00:06:32,400 Speaker 1: or methodologies are are widely used by them to accelerate 117 00:06:32,400 --> 00:06:37,200 Speaker 1: performance or enhance longevity. UM. So we like kind of 118 00:06:37,200 --> 00:06:40,520 Speaker 1: the deeper connection there and the more authentic connection. We 119 00:06:40,600 --> 00:06:44,120 Speaker 1: look for athletes who truly believe in the space and 120 00:06:44,160 --> 00:06:49,359 Speaker 1: are truly and actively utilizing recovery as a means to 121 00:06:49,480 --> 00:06:53,360 Speaker 1: accelerate performance. So Patrick Mahomes a great example. Patrick has 122 00:06:53,400 --> 00:06:56,359 Speaker 1: been using our technology since his days at in college 123 00:06:56,360 --> 00:06:59,360 Speaker 1: the Texas Tech Right. He he goes back since I 124 00:06:59,360 --> 00:07:03,160 Speaker 1: think too was in sixteen, two thousands, fifteen, maybe even 125 00:07:03,160 --> 00:07:06,599 Speaker 1: a little bit earlier, UM on using our technology. So 126 00:07:07,000 --> 00:07:09,080 Speaker 1: we knew that he cares about his body. We knew 127 00:07:09,120 --> 00:07:12,480 Speaker 1: that he UM you know, spends a lot of time 128 00:07:12,560 --> 00:07:16,120 Speaker 1: and energy and resources to put himself in a position 129 00:07:16,600 --> 00:07:18,480 Speaker 1: where he can be on the field. You know, the 130 00:07:18,520 --> 00:07:23,800 Speaker 1: best availability or the best ability sometimes is availability. So UM, 131 00:07:23,960 --> 00:07:28,120 Speaker 1: we we don't want to just pick athletes who you know, 132 00:07:28,440 --> 00:07:31,160 Speaker 1: are have a high level of brand awareness if they 133 00:07:31,160 --> 00:07:34,200 Speaker 1: don't truly believe in the mission. UM. And that mission 134 00:07:34,240 --> 00:07:36,600 Speaker 1: for us is trying to help everyone on Earth move 135 00:07:36,640 --> 00:07:40,520 Speaker 1: better and live better. UM Patrick for example, he he 136 00:07:40,680 --> 00:07:45,160 Speaker 1: loves the idea of using his reach to help every 137 00:07:45,240 --> 00:07:49,560 Speaker 1: human on earth understand why they can improve health, why 138 00:07:49,600 --> 00:07:52,760 Speaker 1: they can improve longevity, and how this will be applicable 139 00:07:53,040 --> 00:07:55,800 Speaker 1: to performance in the workplace or performance in whatever they're 140 00:07:55,840 --> 00:07:58,280 Speaker 1: doing in their daily lifestyle. UM. So that's kind of 141 00:07:58,280 --> 00:08:01,840 Speaker 1: the way we go about it. It's UM the level 142 00:08:01,880 --> 00:08:06,720 Speaker 1: of authenticity, the commitment to the space, and also the 143 00:08:06,840 --> 00:08:11,120 Speaker 1: understanding of how important it is to promote everyday health. So, Jim, 144 00:08:11,200 --> 00:08:13,880 Speaker 1: let's talk about the space and the category because I 145 00:08:13,920 --> 00:08:16,600 Speaker 1: think if we went into a time machine and thought 146 00:08:16,600 --> 00:08:21,040 Speaker 1: back five, certainly ten or fifteen years ago, recovery really 147 00:08:21,120 --> 00:08:24,440 Speaker 1: wasn't something we were we were thinking about, and yet 148 00:08:25,000 --> 00:08:31,120 Speaker 1: based on valuations, based on endorsements, based on investments. Clearly, 149 00:08:31,200 --> 00:08:33,320 Speaker 1: this is, for lack of better term, sort of a 150 00:08:33,360 --> 00:08:36,520 Speaker 1: thing that is building out there. What was the inflection 151 00:08:36,600 --> 00:08:40,520 Speaker 1: point and how big can this get? From a category perspective, 152 00:08:41,080 --> 00:08:44,120 Speaker 1: I think this is one of the most important and 153 00:08:44,240 --> 00:08:46,640 Speaker 1: meaningful categories that we're going to see in a really 154 00:08:46,640 --> 00:08:50,840 Speaker 1: long time. UM. I think when you look at what 155 00:08:50,880 --> 00:08:54,760 Speaker 1: the products do, We're changing the physiology of the human body. Right, 156 00:08:54,840 --> 00:08:59,000 Speaker 1: We're helping, um, bring people out of pain. We're helping 157 00:08:59,040 --> 00:09:02,880 Speaker 1: to imp of the way people feel. UM, we're helping 158 00:09:02,920 --> 00:09:06,560 Speaker 1: to you know, promote longevity. All these things are incredibly important. 159 00:09:06,679 --> 00:09:09,880 Speaker 1: And what we're doing is we're building not only a 160 00:09:09,920 --> 00:09:15,319 Speaker 1: culture around this, we're building a movement around those who 161 00:09:15,600 --> 00:09:19,000 Speaker 1: really believe that, UM, thinking about your health every day 162 00:09:19,240 --> 00:09:22,440 Speaker 1: is important and utilize new technology that can help you 163 00:09:22,480 --> 00:09:25,280 Speaker 1: get there to achieve your your health and wellness goals 164 00:09:25,440 --> 00:09:28,720 Speaker 1: is important. So I think this category is going to 165 00:09:28,760 --> 00:09:32,040 Speaker 1: be absolutely massive. UM. You know, I'm on record for 166 00:09:32,040 --> 00:09:33,960 Speaker 1: for saying, I think we as a company will be 167 00:09:33,960 --> 00:09:37,280 Speaker 1: a multibillion dollar company in the next twenty four months. UM, 168 00:09:37,360 --> 00:09:40,640 Speaker 1: and I'm very confident about that. UM. We've grown tremendously 169 00:09:41,160 --> 00:09:44,599 Speaker 1: over the past five years. I think our our valuation 170 00:09:44,679 --> 00:09:49,000 Speaker 1: has gone up seventy x and our revenue over the 171 00:09:49,000 --> 00:09:52,520 Speaker 1: past three years twenty x. And it just speaks to 172 00:09:52,600 --> 00:09:55,600 Speaker 1: the importance of this category. Right This category will be 173 00:09:55,679 --> 00:10:00,000 Speaker 1: a double digit billion dollar category in three years four years. 174 00:10:00,320 --> 00:10:03,520 Speaker 1: And as people learn about it more, which is the 175 00:10:03,559 --> 00:10:06,640 Speaker 1: reason we're creating these high level partnerships to generate awareness, 176 00:10:07,320 --> 00:10:09,120 Speaker 1: there's going to be more intrigued. There's going to be 177 00:10:09,160 --> 00:10:12,520 Speaker 1: more understanding of what the products can do to the body, 178 00:10:12,600 --> 00:10:16,120 Speaker 1: and once we unlock that potential, this category will just 179 00:10:16,160 --> 00:10:19,560 Speaker 1: continue to boom. Unfortunately, the elephant in the room is 180 00:10:19,960 --> 00:10:23,280 Speaker 1: what our society is going through right now, the pandemic. 181 00:10:23,800 --> 00:10:28,600 Speaker 1: For you, it was very important that the sports, especially 182 00:10:28,640 --> 00:10:31,360 Speaker 1: in the NBA and the NFL, the p G A 183 00:10:31,400 --> 00:10:34,480 Speaker 1: baseball two for that matter. Uh, they all picked up 184 00:10:34,520 --> 00:10:38,080 Speaker 1: and got back to be active. How has the pandemic 185 00:10:38,320 --> 00:10:43,000 Speaker 1: impacted your business and maybe supplies. I think I think 186 00:10:43,080 --> 00:10:47,880 Speaker 1: it's actually helped the category because people now and not 187 00:10:47,880 --> 00:10:51,400 Speaker 1: saying our products have anything to do with with COVID nineteen, 188 00:10:51,640 --> 00:10:54,120 Speaker 1: you know, because they do. Mean there are some studies 189 00:10:54,120 --> 00:10:57,280 Speaker 1: on things with circulation as such, But I think it's 190 00:10:57,360 --> 00:11:00,200 Speaker 1: more about people are thinking about their body is a 191 00:11:00,200 --> 00:11:03,240 Speaker 1: little bit more. And you know, when you look at 192 00:11:03,320 --> 00:11:06,360 Speaker 1: a car right, you understand you have check engine light, 193 00:11:06,520 --> 00:11:08,760 Speaker 1: you have oil lights, you have gas lights, you have 194 00:11:08,840 --> 00:11:10,960 Speaker 1: all these different indicators in your car that tell you 195 00:11:11,000 --> 00:11:13,600 Speaker 1: what's going on inside your car. We don't really have 196 00:11:13,640 --> 00:11:15,600 Speaker 1: that for the human body. Yet we have, we don't 197 00:11:15,640 --> 00:11:19,800 Speaker 1: fully understand it from a consumer perspective. So I think 198 00:11:19,840 --> 00:11:22,880 Speaker 1: what what this time period has done is it's just 199 00:11:23,120 --> 00:11:29,040 Speaker 1: increased people's want and need to understand their bodies, which 200 00:11:29,080 --> 00:11:33,240 Speaker 1: has accelerated the categories growth. Obviously, there's their surface level 201 00:11:33,320 --> 00:11:36,040 Speaker 1: things that have happened to like shifting into digital consumer 202 00:11:36,080 --> 00:11:38,520 Speaker 1: and reaching people at home with the phone at home, 203 00:11:38,559 --> 00:11:41,360 Speaker 1: fitness boom, things of that nature. But I think from 204 00:11:41,360 --> 00:11:45,800 Speaker 1: a macro perspective, people are just more interested in knowing 205 00:11:45,960 --> 00:11:48,360 Speaker 1: what's going on in their bodies. How they can, you know, 206 00:11:48,440 --> 00:11:53,120 Speaker 1: improve that, and that's accelerated our position. I also think 207 00:11:53,160 --> 00:11:57,080 Speaker 1: that a lot of big brands such as the NBA 208 00:11:57,280 --> 00:12:01,120 Speaker 1: and NFL and MLB. We're seeing king outside the box, 209 00:12:01,320 --> 00:12:04,200 Speaker 1: trying to find really creative ways to you know, to 210 00:12:04,280 --> 00:12:08,160 Speaker 1: create new partnerships to enhance performance of their athletes, to 211 00:12:08,280 --> 00:12:11,720 Speaker 1: enhance health of their athletes. And I think it actually 212 00:12:11,760 --> 00:12:15,160 Speaker 1: did help with some of these strategic partnerships because everybody 213 00:12:15,280 --> 00:12:18,680 Speaker 1: was being ultra creative and outside the box and trying 214 00:12:18,679 --> 00:12:21,920 Speaker 1: to find new ways to you know, break through and 215 00:12:22,000 --> 00:12:27,840 Speaker 1: create really awesome new partnerships that would advance um everybody's position. Jim, 216 00:12:27,880 --> 00:12:29,560 Speaker 1: how are you gonna be able to measure the value 217 00:12:29,559 --> 00:12:33,280 Speaker 1: of your brand exposure on the sidelines. We see Gatorade buckets, 218 00:12:33,320 --> 00:12:36,079 Speaker 1: we see the Microsoft tablets. How are we going to 219 00:12:36,200 --> 00:12:39,400 Speaker 1: see you know, hyper vault or hyper rice on the 220 00:12:39,440 --> 00:12:42,760 Speaker 1: sidelines of the National Football League. Yeah, so you're all 221 00:12:42,880 --> 00:12:45,320 Speaker 1: five of these partnerships. You know. When you look at 222 00:12:45,320 --> 00:12:48,280 Speaker 1: the p g A, we we did an on course 223 00:12:48,840 --> 00:12:51,920 Speaker 1: activation so for the first time ever, you can have 224 00:12:52,040 --> 00:12:54,959 Speaker 1: a hyper vault on your bag. And we actually created 225 00:12:55,000 --> 00:12:58,120 Speaker 1: a rule change with the PGA tour Um for the 226 00:12:58,160 --> 00:13:01,880 Speaker 1: first time ever, they're allowing technology on the course so 227 00:13:02,000 --> 00:13:05,280 Speaker 1: athletes can use it. In round. With the NBA, we 228 00:13:05,440 --> 00:13:09,720 Speaker 1: created a on court sideline integration called the Hyperbox, which 229 00:13:09,800 --> 00:13:12,200 Speaker 1: was you know, the hyper bolt included on every seat 230 00:13:12,240 --> 00:13:16,320 Speaker 1: court side. UM NFL, We're going to be integrated onto 231 00:13:16,320 --> 00:13:20,320 Speaker 1: the sidelines so athletes can you know, optimize performance in 232 00:13:20,440 --> 00:13:23,240 Speaker 1: game and have accessibility to the products when they're sitting 233 00:13:23,240 --> 00:13:27,200 Speaker 1: on the bench. UM UFC, same type of integration. Major 234 00:13:27,240 --> 00:13:30,880 Speaker 1: League Baseball. We integrated our products into the dugout um 235 00:13:30,920 --> 00:13:34,160 Speaker 1: and into the bullpen. So all of these partnerships, A 236 00:13:34,240 --> 00:13:38,600 Speaker 1: big component of it was accessibility in game for the athletes. 237 00:13:39,240 --> 00:13:41,760 Speaker 1: And I don't think there's ever been There hasn't ever 238 00:13:41,840 --> 00:13:47,000 Speaker 1: been a technology brand that has partnerships with all five 239 00:13:47,760 --> 00:13:51,200 Speaker 1: of the major leagues UM here in the US before, 240 00:13:51,280 --> 00:13:53,559 Speaker 1: so it's the first time. I think it's it's kind 241 00:13:53,559 --> 00:13:57,920 Speaker 1: of unlocked a new level of partnership with technology integration 242 00:13:58,880 --> 00:14:01,240 Speaker 1: that you can use the product on court, on field, 243 00:14:01,280 --> 00:14:04,640 Speaker 1: on course, and in game that is unlike any other. 244 00:14:04,720 --> 00:14:07,400 Speaker 1: So we're we're really excited about that. So, Jim, if 245 00:14:07,440 --> 00:14:09,800 Speaker 1: if I think about what you've just been describing in 246 00:14:09,920 --> 00:14:13,440 Speaker 1: terms of on court, in dugout, on field, I want 247 00:14:13,440 --> 00:14:15,640 Speaker 1: to shift a little bit and talk about in home, 248 00:14:15,720 --> 00:14:18,600 Speaker 1: because building on something Michael Barr was talking about the 249 00:14:18,640 --> 00:14:22,400 Speaker 1: pandemic has changed so much of the way that we 250 00:14:22,520 --> 00:14:25,560 Speaker 1: interact with our own wellness and fitness, and you alluded 251 00:14:25,640 --> 00:14:28,680 Speaker 1: to this as well. We've seen a massive boom in 252 00:14:29,480 --> 00:14:32,640 Speaker 1: in home fitness, whether it's people and their pelotons or 253 00:14:32,720 --> 00:14:36,200 Speaker 1: hydros or all sorts of things, you know, being very creative, 254 00:14:36,680 --> 00:14:39,360 Speaker 1: and we were in this era it feels like more 255 00:14:39,480 --> 00:14:43,440 Speaker 1: of pretty advanced kind of do it yourself versus going 256 00:14:43,480 --> 00:14:46,640 Speaker 1: to a gym because many gyms aren't open. How does 257 00:14:46,720 --> 00:14:50,720 Speaker 1: this product or this suite of products sort of figure 258 00:14:50,800 --> 00:14:56,920 Speaker 1: into that growth market? Great question, Great question, and it 259 00:14:56,920 --> 00:15:00,440 Speaker 1: it really you know, it's complementary. Right when think of 260 00:15:00,840 --> 00:15:07,000 Speaker 1: Peloton for example, right, Peloton absolute phenomenon, right, and then 261 00:15:07,320 --> 00:15:10,280 Speaker 1: we compare ourselves a lot in the recovery space to 262 00:15:10,320 --> 00:15:12,680 Speaker 1: Peloton at the hat at home fitness space. So when 263 00:15:12,680 --> 00:15:15,360 Speaker 1: you look back at Peloton, it was you know, one billion, 264 00:15:15,440 --> 00:15:18,000 Speaker 1: two billion in that range early on, and people were like, oh, 265 00:15:18,240 --> 00:15:20,360 Speaker 1: that's that's as big as it can get. And then 266 00:15:20,360 --> 00:15:22,440 Speaker 1: it was eight billion, and people are like, oh, it's 267 00:15:22,440 --> 00:15:26,560 Speaker 1: reached this peak, right, and then six twenty I read 268 00:15:26,600 --> 00:15:28,920 Speaker 1: an article yesterday that they were you know, right around 269 00:15:28,920 --> 00:15:31,400 Speaker 1: thirty Wall Street Journal had up being up to almost 270 00:15:31,440 --> 00:15:36,160 Speaker 1: sixty billion dollars in four years. Right, So that growth trajectory, 271 00:15:36,480 --> 00:15:39,480 Speaker 1: you know, we see a very similar growth trajectory for 272 00:15:39,560 --> 00:15:44,400 Speaker 1: hyper rice. And I think what's what's complementary and the 273 00:15:44,440 --> 00:15:48,080 Speaker 1: reason I use that word is a peloton user. Right. 274 00:15:48,160 --> 00:15:50,960 Speaker 1: Their goal is to get people engaged in the platform. 275 00:15:51,320 --> 00:15:52,920 Speaker 1: You want to use the platform, you want to come 276 00:15:52,920 --> 00:15:55,479 Speaker 1: back to the platform, you want to have an elevated 277 00:15:55,520 --> 00:15:58,920 Speaker 1: experience on the platform, right, And they've done a tremendous job, 278 00:15:59,440 --> 00:16:03,280 Speaker 1: you know, act evating, creating personalities around the platform um 279 00:16:03,320 --> 00:16:07,680 Speaker 1: to get people constantly engaged. Our products elevate the experience. Right. 280 00:16:07,720 --> 00:16:11,040 Speaker 1: If you can recover faster, you can move better, you 281 00:16:11,120 --> 00:16:14,080 Speaker 1: get a little bit more circulation, then your experience on 282 00:16:14,120 --> 00:16:17,480 Speaker 1: the bike is going to be better. Right, You're gonna 283 00:16:17,480 --> 00:16:20,720 Speaker 1: improve that experience. You feel better, you have more energy. 284 00:16:20,800 --> 00:16:22,480 Speaker 1: And if you feel better and how more energy, you're 285 00:16:22,480 --> 00:16:24,200 Speaker 1: gonna want to take more classes, You're gonna want to 286 00:16:24,200 --> 00:16:26,840 Speaker 1: engauge more in the programming. You're gonna enjoy it a 287 00:16:26,880 --> 00:16:30,400 Speaker 1: little bit more thoroughly. So there really is a benefit 288 00:16:31,000 --> 00:16:34,880 Speaker 1: with our technology to you know, all at home fitness 289 00:16:34,960 --> 00:16:39,480 Speaker 1: experiences and really even in club experiences because we are 290 00:16:39,520 --> 00:16:44,160 Speaker 1: elevating the ability for the consumer to engage. And I 291 00:16:44,200 --> 00:16:48,360 Speaker 1: think that there's something really exciting about that because, um, 292 00:16:48,400 --> 00:16:50,480 Speaker 1: there's not a lot of brands that can kind of 293 00:16:50,480 --> 00:16:54,880 Speaker 1: fit into this ecosystem and create an ecosystem where it's 294 00:16:54,920 --> 00:16:58,080 Speaker 1: benefiting all parties in a very positive way, right, the brand, 295 00:16:58,120 --> 00:17:00,880 Speaker 1: both brands, and then of course the consumer engaging so 296 00:17:00,960 --> 00:17:04,359 Speaker 1: well be a tremendous opportunity there. So just to follow 297 00:17:04,440 --> 00:17:06,240 Speaker 1: up safe to say that that we might see a 298 00:17:06,240 --> 00:17:09,800 Speaker 1: partnership down the line with with some in home fitness. Definitely, 299 00:17:10,000 --> 00:17:13,840 Speaker 1: definitely you will see, um yeah, some some really unique 300 00:17:13,840 --> 00:17:17,800 Speaker 1: partnerships within home fitness. You know. Jim Lynchy got me 301 00:17:17,840 --> 00:17:21,199 Speaker 1: thinking because my Christmas wish was going to be a 302 00:17:21,320 --> 00:17:25,200 Speaker 1: box set of the TV series The Middle. But now 303 00:17:25,440 --> 00:17:28,320 Speaker 1: am I looking at this with the hyper Volt. I 304 00:17:28,320 --> 00:17:31,240 Speaker 1: could sit there with my shredded wheat, put the thing on, 305 00:17:31,600 --> 00:17:34,400 Speaker 1: and here I go. Which brings me to the next question. 306 00:17:35,000 --> 00:17:37,399 Speaker 1: I know you serve in the state of California, but 307 00:17:37,480 --> 00:17:41,120 Speaker 1: can anybody go online and and get the product hyper Volt? 308 00:17:41,440 --> 00:17:44,600 Speaker 1: Yeah they can, they can't. So it's available on our 309 00:17:44,600 --> 00:17:47,600 Speaker 1: website hyperrise dot com. And then in you know, a 310 00:17:47,680 --> 00:17:50,720 Speaker 1: variety of retailers all throughout the country, best by you know, 311 00:17:50,800 --> 00:17:55,560 Speaker 1: Dick Sporting goes north from Bloomingdale's UM available all over 312 00:17:55,600 --> 00:17:59,119 Speaker 1: the place, and in a lot of those locations you 313 00:17:59,160 --> 00:18:01,520 Speaker 1: can actually experience the product. And we've built kind of 314 00:18:02,440 --> 00:18:05,120 Speaker 1: you know, personal experiences where you can sit in your 315 00:18:05,119 --> 00:18:07,359 Speaker 1: normal tech booth so you can you know, utilize the 316 00:18:07,440 --> 00:18:11,080 Speaker 1: hyper vault and interact with the technology that teaches you 317 00:18:11,119 --> 00:18:14,040 Speaker 1: about how and why to use it. So there's a 318 00:18:14,080 --> 00:18:17,800 Speaker 1: lot of application and we also just launched a new 319 00:18:17,840 --> 00:18:23,280 Speaker 1: app in a hyper smart ecosystem which also helps educate 320 00:18:23,320 --> 00:18:27,320 Speaker 1: the consumer. So we're using we're connecting into wearable devices 321 00:18:27,359 --> 00:18:30,720 Speaker 1: such as Apple, Hill, Strava, Garment and a few others 322 00:18:30,720 --> 00:18:34,920 Speaker 1: that are coming down the pipe, and UM pulling activity 323 00:18:35,000 --> 00:18:39,720 Speaker 1: data from your wearables and then curate and content and 324 00:18:39,840 --> 00:18:44,000 Speaker 1: sending you recovery routines based on your analytics are based 325 00:18:44,040 --> 00:18:47,520 Speaker 1: on your activity, so we're getting very precise and you 326 00:18:47,560 --> 00:18:50,600 Speaker 1: can actually you can recover like Patrick Mahomes, or you 327 00:18:50,600 --> 00:18:53,720 Speaker 1: can recover like Naomi Osaka, or recover like for Nato 328 00:18:53,760 --> 00:18:57,159 Speaker 1: to t JR. In baseball. UM. So this kind of 329 00:18:57,280 --> 00:19:03,399 Speaker 1: artificial intelligence slash UM you know app connected ecosystem for us, 330 00:19:04,160 --> 00:19:06,399 Speaker 1: uh is really the way of the future as well, 331 00:19:06,640 --> 00:19:09,000 Speaker 1: for us to be more precise and to be able 332 00:19:09,040 --> 00:19:12,920 Speaker 1: to you know, curate and provide meaningful content to everyone. 333 00:19:13,000 --> 00:19:15,440 Speaker 1: And I think that's going to go into our evaluation 334 00:19:16,200 --> 00:19:19,000 Speaker 1: um tremendously as well as we look to the future. Well, 335 00:19:19,560 --> 00:19:22,040 Speaker 1: Mrs Barr is going to have to listen to this podcast. 336 00:19:26,720 --> 00:19:29,480 Speaker 1: This is what I want for Christmas. That's man, that's good. 337 00:19:29,600 --> 00:19:33,639 Speaker 1: Thanks Lynch, appreciate that. You know, it's funny about that. 338 00:19:33,680 --> 00:19:36,760 Speaker 1: You so so we because we had all these partnerships 339 00:19:37,119 --> 00:19:39,920 Speaker 1: that happened within four months, right, and they were all 340 00:19:40,000 --> 00:19:43,440 Speaker 1: a fictical recovery technology partner. So the joke was everybody 341 00:19:43,480 --> 00:19:45,480 Speaker 1: was writing us and they were saying, you guys should 342 00:19:45,480 --> 00:19:50,480 Speaker 1: just be the facial recovery partner of life. So for 343 00:19:50,560 --> 00:19:53,720 Speaker 1: our holiday cards, we as as kind of a fun joke, 344 00:19:54,280 --> 00:19:57,560 Speaker 1: they all say official Recovery Partner of the North Pole. 345 00:20:00,080 --> 00:20:01,800 Speaker 1: That was my next question, when you're going to form 346 00:20:01,800 --> 00:20:04,119 Speaker 1: a partnership with Santa Claus because that might even be 347 00:20:04,200 --> 00:20:09,159 Speaker 1: bigger than the National Football League. So, uh So, no 348 00:20:09,200 --> 00:20:10,960 Speaker 1: matter what type of athlete you are, if you run 349 00:20:10,960 --> 00:20:13,400 Speaker 1: a marathon or if you play eighteen holes of golf 350 00:20:13,400 --> 00:20:15,760 Speaker 1: and go out and break leaves. You're sore the next day. 351 00:20:15,760 --> 00:20:17,560 Speaker 1: It's a different level of so and it's a different 352 00:20:17,640 --> 00:20:21,080 Speaker 1: level of recovery. But you know, for the weekend Warrior 353 00:20:21,640 --> 00:20:26,040 Speaker 1: is the is the hyper bolt the product that is 354 00:20:26,119 --> 00:20:29,760 Speaker 1: most recommended and most used And basically be asking the 355 00:20:29,840 --> 00:20:36,560 Speaker 1: question selfishly for myself is that when he and Raking League, 356 00:20:36,720 --> 00:20:44,439 Speaker 1: that wasn't theoretical. So the hyper bowlt is definitely the 357 00:20:44,480 --> 00:20:48,480 Speaker 1: best seller right now. Um. But the Norma tech device, 358 00:20:48,560 --> 00:20:52,960 Speaker 1: which is the dynamic air compression devices, which you've seen, 359 00:20:53,040 --> 00:20:57,000 Speaker 1: you know, Lebron uses a variety of different athletes. You'll 360 00:20:57,000 --> 00:20:59,679 Speaker 1: see them. They look like kind of big snow boots. 361 00:20:59,680 --> 00:21:02,200 Speaker 1: So using on the body, that is a very very 362 00:21:02,240 --> 00:21:06,400 Speaker 1: popular product for the everyday person. It is absolutely life changing. 363 00:21:06,600 --> 00:21:08,760 Speaker 1: When you get in those boots, you will be addicted 364 00:21:08,800 --> 00:21:10,800 Speaker 1: to it and use it probably four to five times 365 00:21:10,840 --> 00:21:13,240 Speaker 1: a day and it really does make your your legs 366 00:21:13,280 --> 00:21:16,919 Speaker 1: and bodies feel better every day. Um. So that's a 367 00:21:16,960 --> 00:21:19,240 Speaker 1: little bit more expensive product than the hyper Bowl, but 368 00:21:19,400 --> 00:21:23,040 Speaker 1: is one of our best um and it is widely 369 00:21:23,080 --> 00:21:25,159 Speaker 1: widely used and getting more and more popular with the 370 00:21:25,240 --> 00:21:27,760 Speaker 1: general consumer. So Jim before we let you go, just 371 00:21:28,040 --> 00:21:32,000 Speaker 1: one last question just from a business and a growth perspective. 372 00:21:32,800 --> 00:21:35,680 Speaker 1: You know clearly a huge amount of ambition that you 373 00:21:35,720 --> 00:21:37,879 Speaker 1: have and the team has for the company. You know 374 00:21:37,960 --> 00:21:41,479 Speaker 1: you have done some some acquisitions. Norman Tech, I believe 375 00:21:41,720 --> 00:21:45,080 Speaker 1: was an existing company. You guys combined and took that on. 376 00:21:45,680 --> 00:21:49,399 Speaker 1: Are there other sort of recovery companies out there? Is 377 00:21:49,440 --> 00:21:51,439 Speaker 1: there an M and A strategy here to get to 378 00:21:51,480 --> 00:21:55,000 Speaker 1: those ambitious growth targets? Is it organic? Is it a mix? 379 00:21:55,080 --> 00:21:57,840 Speaker 1: How do you see that it's it's really a combination. 380 00:21:57,960 --> 00:22:00,800 Speaker 1: We will be aggressive with acquisition. So Rmitech was our 381 00:22:00,840 --> 00:22:03,480 Speaker 1: first and will not be our last. UM. We have 382 00:22:03,560 --> 00:22:05,920 Speaker 1: a few other targets out there right now that we're 383 00:22:05,960 --> 00:22:09,000 Speaker 1: looking at, so M and A will be a UM 384 00:22:09,680 --> 00:22:12,120 Speaker 1: a very big part of our growth strategy. UM our 385 00:22:12,200 --> 00:22:16,520 Speaker 1: international expansion. The opportunity there is tremendous and you'll see 386 00:22:16,720 --> 00:22:18,439 Speaker 1: some of the partnerships we did. We did one with 387 00:22:18,480 --> 00:22:21,760 Speaker 1: the Tottenham Hotspur UM and another one with All Blacks, 388 00:22:22,480 --> 00:22:26,320 Speaker 1: the rugby just epic rugby team that's very well known 389 00:22:26,359 --> 00:22:28,720 Speaker 1: obviously in New Zealand, and we have a few more 390 00:22:28,720 --> 00:22:30,840 Speaker 1: of those on the global side. So there's a big 391 00:22:30,880 --> 00:22:35,560 Speaker 1: opportunity globally. UM and then the whole connected ecosystem and 392 00:22:35,560 --> 00:22:38,719 Speaker 1: the technology I alluded to around our hyper smart technology 393 00:22:38,840 --> 00:22:43,040 Speaker 1: and what we're doing there with a I and UM, 394 00:22:43,080 --> 00:22:48,280 Speaker 1: you know, curating content, getting specific using experts, pulling wearable data. 395 00:22:48,640 --> 00:22:51,679 Speaker 1: That is going to be a tremendous growth opportunity for us, 396 00:22:51,680 --> 00:22:56,240 Speaker 1: and we're investing heavily in the development of that technology. So, 397 00:22:56,400 --> 00:22:58,520 Speaker 1: you know, we we we look a lot at at Beach. 398 00:22:58,560 --> 00:23:01,160 Speaker 1: You know, Beach did a tremendous be griderated a tremendous 399 00:23:01,240 --> 00:23:06,520 Speaker 1: job at building culture obviously through music, and they did 400 00:23:06,520 --> 00:23:09,480 Speaker 1: an excellent job at hardware and consumer electronics and then 401 00:23:09,480 --> 00:23:13,120 Speaker 1: shifted into software and had their you know, Beach Music ecosystem, 402 00:23:13,119 --> 00:23:16,000 Speaker 1: which was incredibly valuable. There's a lot of similarities here. 403 00:23:16,560 --> 00:23:18,960 Speaker 1: You know. We we currently have the hardware, we have 404 00:23:19,080 --> 00:23:22,600 Speaker 1: the consumer electronics products that are used all throughout the 405 00:23:22,600 --> 00:23:26,560 Speaker 1: world and over seventy countries now worldwide. Those are scaling 406 00:23:26,600 --> 00:23:29,120 Speaker 1: and growing at a rapid pace, and we're developing our 407 00:23:29,160 --> 00:23:33,240 Speaker 1: software and our connected ecosystem and our digital ecosystem that 408 00:23:33,400 --> 00:23:35,480 Speaker 1: is going to not only enhance the utility of the 409 00:23:35,480 --> 00:23:39,119 Speaker 1: products but also open up a ton of other opportunities 410 00:23:39,960 --> 00:23:44,520 Speaker 1: around our business as it relates to, you know, understanding 411 00:23:44,520 --> 00:23:46,560 Speaker 1: the body more and being able to be more specific 412 00:23:46,600 --> 00:23:50,280 Speaker 1: with curated content such. So there's a lot of great 413 00:23:50,280 --> 00:23:53,120 Speaker 1: opportunities for us coming down the pipe. We're gonna stay 414 00:23:53,119 --> 00:23:55,320 Speaker 1: really aggressive. We we aspire to be kind of a 415 00:23:55,320 --> 00:23:58,560 Speaker 1: combination of a Nike and Apple, a Tesla and a Dison. 416 00:23:58,640 --> 00:24:00,200 Speaker 1: A lot of people say, oh you guys to the 417 00:24:00,240 --> 00:24:04,320 Speaker 1: Apple recovery or the Tesla recovery. UM. And one of 418 00:24:04,320 --> 00:24:06,000 Speaker 1: our big goals is to be one of the world's 419 00:24:06,040 --> 00:24:10,120 Speaker 1: most innovative companies UM. And so we're we're pushing really 420 00:24:10,119 --> 00:24:13,679 Speaker 1: hard to continue to drive innovation to get there. All right, 421 00:24:13,800 --> 00:24:16,199 Speaker 1: jim Well, my only criticism of you is I just 422 00:24:16,240 --> 00:24:20,920 Speaker 1: feel like you're thinking too small. I'm just kidding anyway, 423 00:24:21,320 --> 00:24:24,200 Speaker 1: Jimmy either, thank you so much. CEO of Hype Rice 424 00:24:24,359 --> 00:24:27,600 Speaker 1: lots to look forward to. Uh there, and it sounds like, 425 00:24:27,760 --> 00:24:30,600 Speaker 1: you know, the families of Lynch and Bar at least 426 00:24:30,840 --> 00:24:34,000 Speaker 1: have some chopping to do. So we really appreciate the time. Thanks. 427 00:24:34,440 --> 00:24:38,080 Speaker 1: I love it. I appreciate you guys helping Ourbada for 428 00:24:38,080 --> 00:24:40,760 Speaker 1: the year. There you go, there you go. Thanks a lot. 429 00:24:41,000 --> 00:24:44,000 Speaker 1: This is the Blueberg Business of Sports podcast. We're here 430 00:24:44,080 --> 00:24:47,240 Speaker 1: each and every Monday, Wednesday and Thursday exploring the world 431 00:24:47,280 --> 00:24:49,560 Speaker 1: of money and sports. I'm Michael bar. You can follow 432 00:24:49,640 --> 00:24:52,200 Speaker 1: me on Twitter at Big Bar Sports and Mike Lynch 433 00:24:52,240 --> 00:24:55,399 Speaker 1: Santa Claus. I hope you were listening. You can find 434 00:24:55,400 --> 00:24:58,400 Speaker 1: me at Lynch w CVB and I'm Jason Kelly at 435 00:24:58,480 --> 00:25:00,720 Speaker 1: Jason Kelly News on Twitter It or join us again 436 00:25:00,720 --> 00:25:02,280 Speaker 1: at the end of the week when we speak with 437 00:25:02,359 --> 00:25:06,399 Speaker 1: former Bears defensive end Otta Wally oglan Lay on his 438 00:25:06,480 --> 00:25:10,919 Speaker 1: new role as ubs IS Global Wealth Managements, New Athletes 439 00:25:11,000 --> 00:25:15,000 Speaker 1: and Entertainers segment. He is running money for some of 440 00:25:15,040 --> 00:25:18,119 Speaker 1: the biggest athletes out there. A fascinating new job, a 441 00:25:18,119 --> 00:25:21,120 Speaker 1: fascinating background. Really looking forward to catching up with him, 442 00:25:21,359 --> 00:25:24,760 Speaker 1: telling you saved us from the Christmas ties. You're listening 443 00:25:24,800 --> 00:25:28,080 Speaker 1: to The Bloomberg Business of Sports on Bloomberg Radio around 444 00:25:28,080 --> 00:25:30,480 Speaker 1: the world and online wherever you get your podcasts.