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Speaker 1: This is Bloomberg Business of Sports talk about some of

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Speaker 1: the more interesting aspects of business of sports. So there's

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Speaker 1: all kinds of cool questions. So this is a fun

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Speaker 1: topic to the country is finally getting the memo about

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Speaker 1: how amazing the sport is. I think the sky's a

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Speaker 1: limit for MLS. We're spending more and more of our

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Speaker 1: time in a digital world, and it's also becoming a

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Speaker 1: really powerful place for commerce. It is so nice to

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Speaker 1: be back and to be able to have fans back

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Speaker 1: in the building. So despite the chaotic schedule, and this

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Speaker 1: is why we do what we do, when you get

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Speaker 1: into the playoffs, there's nothing better at the player, in

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Speaker 1: the excitement, and it's also for the organization and monsters involved.

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Speaker 1: Bloomberg Business of Sports from Bloomberg Radio. This is the

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Speaker 1: Bloomberg Business of Sports Show, where we explore the big

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Speaker 1: money issues of the world of sports. I'm Michael Block,

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Speaker 1: I'm Scarlett Foo, I'm Mike Lynch chuming up today together

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Speaker 1: for a shared future. That's the motto of the Olympic

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Speaker 1: word the games underway in Beijing. We have a special

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Speaker 1: guest to break it all down. All of fame short track,

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Speaker 1: speed skate and America's most decorated Winter Olympian, Apollo oh No,

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Speaker 1: joined the show That Straight Ahead on the Bloomberg Business

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Speaker 1: of Sports. But first, let's look at some of the

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Speaker 1: top stories for the weekend. There are a lot. Uh

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Speaker 1: let's start. First of all, the Washington football team. They

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Speaker 1: have a new name. We are the Commanders. That's right, boy,

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Speaker 1: we are rolling on the field. Oh man. Well, I

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Speaker 1: you know, I know there are people that have their

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Speaker 1: thoughts about the Commanders, but let's ask what now? Commanders?

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Speaker 1: Head coach Ron Rivera has to say, the Commanders stood

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Speaker 1: out the most and it was kind of interesting to

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Speaker 1: look at the possibilities with that name. So really excited about,

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Speaker 1: you know, the fact that we are really starting a

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Speaker 1: new chapter. You know, we're turning a page, We're going forward.

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Speaker 1: Spoke on CBS Scarlett, What do you think? This is

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Speaker 1: an eighteen month long process, and I'm sure they hired

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Speaker 1: several branding experts to work through all of this. I

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Speaker 1: like it, although I feel like it's too many syllables.

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Speaker 1: I personally, and I think Barb, we talked about this earlier.

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Speaker 1: Washington Generals would have been good General Washington Washington General.

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Speaker 1: I like that. I like what you said, the Generals there,

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Speaker 1: but there was another team called the Generals, wasn't there

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Speaker 1: back in another league another day? There's too Actually they

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Speaker 1: were the New Jersey Generals of the U s FL

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Speaker 1: back in the mid and nineteen eighties, owned by Donald Trump.

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Speaker 1: The year left of one year. But the Washington Generals

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Speaker 1: are the team that plays the Harlem Globetrotters all the time.

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Speaker 1: Lifetime record is like zero and six thousand, okay, okay,

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Speaker 1: So there's a little bit of a legacy to work with. Yeah, yeah,

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Speaker 1: so you kind of want to stay away from that one.

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Speaker 1: You know what came to my mind right away. In college,

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Speaker 1: I used to jog through the Cambridge Common and there's

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Speaker 1: this granite pillar on the ground under this elm tree,

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Speaker 1: and it says on this spot General Washington took command

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Speaker 1: of the Continental Army on July three, seventeen seventy five.

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Speaker 1: And when I first started, I said, Washington Commanders, commander

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Speaker 1: to Washington took over and he was the first commander

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Speaker 1: in chief and father of our country, etcetera, etcetera. There's

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Speaker 1: a lot of connotations you can put with commander. It's

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Speaker 1: usually a naval term, but it also means someone that's

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Speaker 1: in charge. I still say the Hogs would have been great.

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Speaker 1: Can you imagine all the calls you could have the

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Speaker 1: Hogs are grunting in the red zone for the Oh,

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Speaker 1: this has been a great thinking about it from an

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Speaker 1: announcer point of view, Oh, heck, that would have been excellent. Uh.

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Speaker 1: This next story, though, this is this is very serious. Uh.

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Speaker 1: And it involves the former Miami Dolphins head coach Brian Flores.

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Speaker 1: He has filed a lawsuit this past week alleging racial

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Speaker 1: discrimination in the NFL's hiring practices, saying many African Americans

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Speaker 1: in the league feel like interviews for head coaching positions

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Speaker 1: are shams, and he spoke to CBS about the NFL's

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Speaker 1: Rooney Rule, a policy that requires NFL owners to interview

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Speaker 1: ethnic minority candidates for head coaching positions. The Rooney Rules

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Speaker 1: intended to give minorities an opportunity to sit down a

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Speaker 1: fun of ownership. But I think what has turned into

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Speaker 1: is and instance where guys are just checking the box.

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Speaker 1: This is when you see these kind of lawsuits from

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Speaker 1: time to time in the league, But this one is

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Speaker 1: really I know, we used the phrase this is a

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Speaker 1: bombshell but this really is a bombshell. Yeah. This was

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Speaker 1: because when Brian Flowers was fired as coach of the

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Speaker 1: Miami Dolphins last month, a lot of people were kind

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Speaker 1: of bewildered. He had turned that team around. He had

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Speaker 1: a winning season. Um, in fact, back to back winning seasons,

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Speaker 1: and it wasn't totally clear why he was fired. Uh.

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Speaker 1: In this lawsuit, he alleges that he was essentially told

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Speaker 1: to Tank to to do badly in the season so

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Speaker 1: that the Dolphins could get a better draft pick, and

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Speaker 1: the owner, Stephen Ross, pretty much wanted him to do that.

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Speaker 1: He wouldn't do it, So that's one reason why he

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Speaker 1: was fired. Then what you were talking about with regards

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Speaker 1: to the Rooney rule, I mean, the anecdote and the

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Speaker 1: evidence that he provides is pretty compar helling. He said

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Speaker 1: that he was interviewed by the New York Giants for

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Speaker 1: the head coach position, um, and it was on the schedule,

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Speaker 1: and he got a text message from Bill Belichick who

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Speaker 1: had said congratulations, I hear you're in the lead or

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Speaker 1: you're going to be hired. Um. And then it turns

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Speaker 1: out that Bill Belichick had meant to text Brian Dable, Oops,

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Speaker 1: who is White um as because he's also a candidate

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Speaker 1: for this position. The irony and all of this is

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Speaker 1: that it happened before Brian Flores's interview was even supposed

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Speaker 1: to take place or was scheduled to take place. Yeah,

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Speaker 1: it was an error by Bill Belichick. Obviously, both men

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Speaker 1: coached under Bill Belichick. Both of the first name of Brian,

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Speaker 1: and when he went into his presumably when he contexts,

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Speaker 1: he went Brian and then afterwards he says, whoops, I

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Speaker 1: blanked up, Sorry about that, And that was it. That

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Speaker 1: was it, And now this was the day Brian. Brian

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Speaker 1: Flores had yet to be interviewed by the Giants, but

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Speaker 1: they had already made up their mind because obviously Bill

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Speaker 1: Belichick has close ties to the Marra family and the

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Speaker 1: in the Giants organization. I know Brian Flores pretty well.

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Speaker 1: He played here in Boston College. He coached fifteen years

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Speaker 1: under um Bill Belichick before he got his job. He

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Speaker 1: had two great years ten and six and nine and seven.

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Speaker 1: I do know that the offer to tango in the

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Speaker 1: tank so they can get to is a true story.

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Speaker 1: I heard that a number of times before that. And

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Speaker 1: this you know, Brian Flores is going to be the

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Speaker 1: current flood of the National Football League. I'm not sure

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Speaker 1: he'll get another head coaching job again. But he's doing

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Speaker 1: this for himself and all the other qualified, overqualified black

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Speaker 1: candidates for executive positions, administrative positions, and head coaching positions

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Speaker 1: in the National Football League. This is a brave, brave

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Speaker 1: step by Brian Flores. There are seventy percent of black

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Speaker 1: players in the NFL, only one NFL head coach, and

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Speaker 1: they keep going to the same well of head coaches too. Right,

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Speaker 1: you can get fired by one team in the next season,

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Speaker 1: he'll get picked up by another team. It's just this

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Speaker 1: ongoing carousel of the same coaches that get picked up

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Speaker 1: when in fact, fresh blood would be a good thing,

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Speaker 1: and the Rooney Rule is meant to address that. But

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Speaker 1: as Brian Flores says, if it's just to check the

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Speaker 1: box exercise and the owners have already made up their

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Speaker 1: mind on who they want to hire, then it's really

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Speaker 1: nothing more than just you know, I gotta do it

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Speaker 1: because I gotta do it because the league says so.

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Speaker 1: But it's a done deal. Yeah. He Allegescy went out

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Speaker 1: to Denver the interview for the Broncos job and just

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Speaker 1: John Elway and the general manages showed up an hour late,

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Speaker 1: and he alleges they were hungover and the deal was

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Speaker 1: already done and they hired Vic Fangio. Yeah. John always

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Speaker 1: showing up drunk allegedly is not a sign that he's

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Speaker 1: taking this interview seriously. I mean, just imagine if you

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Speaker 1: went into an interview, this is your big moment and

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Speaker 1: the guy comes in late and hungover. How seriously is

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Speaker 1: he taking that? Before we wrap up, we got to

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Speaker 1: talk about Tom Brady. Yes, yes, the goat has retired.

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Speaker 1: Scar you're talking twenty two seasons, twenty with the Patriots.

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Speaker 1: There is no question this man is the greatest of

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Speaker 1: all time and NFL fans, Patriots fans in particular, have

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Speaker 1: a lot to think when it comes to Tom Brady.

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Speaker 1: But I'm also excited that he is stepping aside and

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Speaker 1: we can really see this new generation of quarterbacks and

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Speaker 1: we kind of saw it with Josh Allen and Patrick

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Speaker 1: Mahomes during the playoffs. How exciting it's going to be

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Speaker 1: to have a whole new crop of quarterbacks. And it

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Speaker 1: was a big outroar, especially in the New England area

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Speaker 1: that when he when Brady posted on Instagram, and later

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Speaker 1: on Twitter, they didn't thank the Patriot fans. Well he

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Speaker 1: don't mentioned the team right. Well, no, but he played

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Speaker 1: here in October and beat the Patriots, and he spent

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Speaker 1: a half hour with Bill Belichick. He went around and

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Speaker 1: thanked every person that worked at Gillette Stadium. He thanked

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Speaker 1: the crowd. He was over the p A system. And

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Speaker 1: when he left here to two years ago, his first

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Speaker 1: sentence was out to all my teammates, coaches, executives, and staff,

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Speaker 1: Coach Belichick, Robert Kraft, and the Craft family. I want

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Speaker 1: to say thank you. Blah blah blah blah blah blah blah,

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Speaker 1: and one all know what I'll put here. Since this

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Speaker 1: is the business of sports, the money numbers, it's the

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Speaker 1: Craft family that should be thanking Tom Brady, which they

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Speaker 1: did crafted in a statement because when Robber Craft bought

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Speaker 1: this team in hundred and seventy two million dollars. Last month,

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Speaker 1: Forbes ranked the Patriots organization as the seventh most valuable

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Speaker 1: sports franchise on the planet at five point eight eight billion.

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Speaker 1: That's thank you enough. I think a hundred seventy two

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Speaker 1: million that's laughable now it is considering how much everyone

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Speaker 1: says the Broncos will go for yeah. Yeah. By the way,

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Speaker 1: they're up for sale. They guess the family feud is

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Speaker 1: kind of ceased for a moment. So now, hey, if

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Speaker 1: you want to buy a football team, the Denver Broncos,

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Speaker 1: they're right out there. They could go you know what,

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Speaker 1: they could go for four billion dollars. The average NFL

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Speaker 1: club is worth three and a half billion. And Lynche,

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Speaker 1: how much are you saying? The just shy of six, five, eight?

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Speaker 1: You know, I and I Before we move on, I

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Speaker 1: gotta say I was thinking of a number of the week,

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Speaker 1: and I was thinking, you know, since we're talking about

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Speaker 1: Tom Brady, how much did Robert Kraft by the team?

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Speaker 1: And I'm like, you know what that's like asking Lynchy

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Speaker 1: how many fingers you got? Yeah, he can recite that

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Speaker 1: number in his sleep. Up next on the show, Bloomberg

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Speaker 1: News reporter Karoomy Morey joins us from Beijing. Plus we

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Speaker 1: catch up with short track speed skater and Olympic Hall

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Speaker 1: of Famer Apollo. Oh no, that's straight ahead on Bloomberg

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Speaker 1: Business with Sports on Michael Bar. You can follow me

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Speaker 1: on Twitter at Big Bar Sports. I'm Scarlet Foo. You

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Speaker 1: can follow me on Twitter at Scarlet Fool and I'm

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Speaker 1: Mike Lynch on Twitter at Lynch w CVB. And you

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Speaker 1: know what that sound means. The Winter Olympics is underway

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Speaker 1: in Beijing, and we are pleased to say that Bloomberg's

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Speaker 1: Kaomi Mori is on the ground. They're covering it all

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Speaker 1: for us. Kareomy, thanks for joining us. I want to

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Speaker 1: start first of all, it's and I know this sounds

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Speaker 1: like a Joe the real question, but does it feel

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Speaker 1: like you know, it's the Olympics? I mean, does it

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Speaker 1: are we getting that feeling now that okay, here we go.

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Speaker 1: I mean, I know there's you know, there's a limit

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Speaker 1: to the crowd and everything, but is there some sort

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Speaker 1: of Olympic feelings? Yes? And no. I have to say

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Speaker 1: that because this is a tightly controlled bubble. When we

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Speaker 1: were going from the airports to our Olympics prepared hotel,

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Speaker 1: there are banners everywhere. There are signs that say Beijing two.

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Speaker 1: You see the two mascots on poster wards everywhere in

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Speaker 1: the city. But because there will be no spectators and

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Speaker 1: we are closed off physically, there is a sense around

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Speaker 1: the Olympics venues we are not in touch with the

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Speaker 1: public at all. When I talked to Beijing locals here online,

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Speaker 1: of course, they told me that, you know, there's not

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Speaker 1: much excitement for the game, especially because this is happening

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Speaker 1: the open ceremony is happening during the Chinese Lunar New

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Speaker 1: Year holiday. That's when everybody is trying to go home

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Speaker 1: at the time, with their families, trying to leave Beijing

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Speaker 1: sometimes and the Olympics of making that logistically very very

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Speaker 1: part So some of them say, uh, this may not

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Speaker 1: be the time for the Olympics. We'd rather celebrate the

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Speaker 1: biggest holiday of the year with our families. Um. But

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Speaker 1: of course others who loved force who doesn't love watching

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Speaker 1: the games. Hosting the games is always very disruptive to

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Speaker 1: the city. And you know this firsthand because you're based

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Speaker 1: in Tokyo and you covered the Tokyo Olympics Olympics which

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Speaker 1: became Olympics last year. Can you compare and contrast what

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Speaker 1: it's like in Beijing versus Tokyo. Absolutely, it feels very

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Speaker 1: very different Tokyo. Also, we were experiencing a number of

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Speaker 1: COVID cases in the city. There was some nervousness. I

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Speaker 1: talked about muted excitement throughout the lead up to the

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Speaker 1: Tokyo game, says the numbers were starting to really rise

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Speaker 1: as the open ceremony is about to happen, But there

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Speaker 1: was still that sense of, Oh, the Olympics are here

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Speaker 1: and all of these international broadcasters and athletes are coming

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Speaker 1: into Tokyo. Uh. There's definitely a sense of excitement within

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Speaker 1: with the business owners around the stadium. And that's partly

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Speaker 1: because even though there was a so called bubble, it

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Speaker 1: was very loose. I, as a local reporter, was able

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Speaker 1: to go home to my own apartment every single night

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Speaker 1: after reporting on the game. In Beijing, it's completely different.

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Speaker 1: Nobody is going home. Nobody comes in or goes out

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Speaker 1: of the bubble until the games are over. Hey. Really,

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Speaker 1: it's Mike Clinch up in Boston. Uh. To type me

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Speaker 1: through your daily ritual. What it will be, how long

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Speaker 1: it will take you. Let's say you want to go

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Speaker 1: watch speed skating. How long it will take you to

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Speaker 1: get into a venue? What you have to go through

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Speaker 1: every single day. Yeah. So every day when I wake up,

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Speaker 1: the first thing I do is go take a PCR test.

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Speaker 1: I go step outside my hotel, which is again fenced

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Speaker 1: off a tall green fence all around the hotel. But

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Speaker 1: there is a little hot outside of the entrance where

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Speaker 1: I'm allowed to walk and go towards the hut which

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Speaker 1: has two holes for hands. There is somebody in there.

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Speaker 1: I can't even see her face. She's in full has

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Speaker 1: that suit from head to toe. But she takes out

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Speaker 1: her hand and slobs my throats to take my COVID

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Speaker 1: test um. And that's it, and the I just go

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Speaker 1: back to the hotel. But then starts. This starts my

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Speaker 1: journey into going to a venue. I cannot take a

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Speaker 1: regular taxi. I can't even walk outside of my fence

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Speaker 1: hotel area, so I can't even go for a job.

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Speaker 1: I have to use the transport provided by the Olympics,

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Speaker 1: So that is basically a bus a shuttle service that

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Speaker 1: goes from one hotel too. Then you a d C

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Speaker 1: and from there I take another shuttle. So if I

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Speaker 1: was to go to speed skating, I have to go

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Speaker 1: to the main present or first and from there I

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Speaker 1: have to go to the speed skating oval, So that

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Speaker 1: could take about two hours. I would say I waited

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Speaker 1: for the shuttle this morning for about thirty to forty minutes.

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Speaker 1: This is hopefully some of the kinks that we can

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Speaker 1: iron out as the days go on. Um. But again,

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Speaker 1: COVID Olympics, just like Tokyo, it just takes a very

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Speaker 1: long time because we are using Olympics provided transport and

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Speaker 1: not allowed to take anything else that would put us

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Speaker 1: in contact with the public. Sounds like you can't change

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Speaker 1: your plans either. If you're committed to speed skating, you

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Speaker 1: can't decide to check out figure skating for instance. Yeah,

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Speaker 1: I might take some time. Well, first a statement, bring

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Speaker 1: back some goodies because we want good souvenirs. Bring back

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Speaker 1: a gold medal first of all, that's what we want.

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Speaker 1: And then second of all, just want well yeah, just yeah, okay,

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Speaker 1: just at least one, we'll all share it. The the

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Speaker 1: other one that I didn't want to ask a lot

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Speaker 1: more serious is that And obviously with COVID uh it

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Speaker 1: has been a huge economic impact on China hosting the Games.

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Speaker 1: Can you talk more about that? Yeah, well, you know,

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Speaker 1: for China, this is really presidentiation things shining moment to

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Speaker 1: show China as this improved version of itself. In two

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Speaker 1: thousand and eight, it hosted the Summer Games. Now it's

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Speaker 1: hosting the Winter Games. It's becoming the basically the first

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Speaker 1: city ever to host both the Summer and the Winter

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Speaker 1: several times, President Jian thing has said that put in

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Speaker 1: quotes that he is pledging to put on a simple,

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Speaker 1: safe and splendid game. Again, the virus measures in hopes

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Speaker 1: of teaming COVID are super super tough. But again, you know,

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Speaker 1: Beijing is putting a lot of pressure on itself to

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Speaker 1: host successful games, and that's part of why the virus

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Speaker 1: measures are so tough. They're saying the cost of putting

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Speaker 1: on the Winter Games costs three point nine billion dollars

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Speaker 1: on paper, that's the least except expensive games in the

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Speaker 1: last two decades. Uh. Again, that number is debatable. We've

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Speaker 1: seen one important thing. It could be ten xp so

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Speaker 1: that's closer to thirty nine billion dollars um. But you know,

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Speaker 1: for Beijing, like any other city, any other country like China,

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Speaker 1: putting on the Games comes with a lot of hope

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Speaker 1: that they will put their best foot forwards, show their

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Speaker 1: country in the best lights. It's it's one of the

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Speaker 1: most exciting things that brings the whole world together and

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Speaker 1: the US let's diplomatic boycott is putting a damper on

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Speaker 1: it in the political sense, but it doesn't mean anything

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Speaker 1: for those sports itself. It's really a symbol like movement.

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Speaker 1: And it will be a store at the opening ceremony

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Speaker 1: because US politicians won't be there, Canadian politicians won't be

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Speaker 1: their British politicians not there either. UM Japan announced it

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Speaker 1: won't send a government delegation. But I actually saw a

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Speaker 1: stay called Hashimoto today in the main press center. She

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Speaker 1: was the head of the Tokyo Organizing Committee. She was

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Speaker 1: touring the press center, and she's an Upper House lawmaker,

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Speaker 1: so you could say she's a government representative and she's

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Speaker 1: in Beijing. Um, other people who are here are going

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Speaker 1: to be here blaming or putin Uh. Technically Russia's banned

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Speaker 1: from the Olympics, but there was a loophole in that

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Speaker 1: ruling that allows him to be a personal guest of

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Speaker 1: President Sham thing we learned today. Also, Taiwan will attend

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Speaker 1: the opening ceremony after all, reversing an earlier decision after

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Speaker 1: getting pressure from the IOC to be here. So that's

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Speaker 1: you know, just last week I once said if government

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Speaker 1: officials are skipping the game due to COVID and trouble

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Speaker 1: with travel, but PIOC reported lease that notices requiring all

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Speaker 1: teams to send personality of the ceremonies. So now Taiwan

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Speaker 1: is adjusting their plans to cooperate with the policies. All um,

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Speaker 1: you know, good for China for more and more delegates

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Speaker 1: to come. Yeah, the politics of this is just fascinating,

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Speaker 1: and it's interesting that the IOC is stepping in to

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Speaker 1: put pressure on Taiwan. I'm curious about the weather because

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Speaker 1: you mentioned Beijing being uh the first city to host

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Speaker 1: a Summer Olympics and Winter Olympics. Um. One thing has

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Speaker 1: been made clear, which is there's not a lot of

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Speaker 1: natural snowfall in Beijing and they're going to be hosting

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Speaker 1: a lot of skiing events. How is that working out

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Speaker 1: with the weather the way it is. I'm looking at

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Speaker 1: the ten day forecast. It's going to be a high

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Speaker 1: forty eight degrees fahrenheit on Wednesday, February ninth. They've had

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Speaker 1: to make a lot of artificial snow, and some people

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Speaker 1: worried that that may compromise the performance of these olymp

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Speaker 1: athletes as well. Yeah, that's exactly that's exactly right. Beijing

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Speaker 1: is the main hub of the Games, but there are

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Speaker 1: two other zones, Yantin and Jan Jako. Those are the

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Speaker 1: in the mountains for the ski resorts. But even there,

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Speaker 1: of the maximum it's so there is about two inches.

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Speaker 1: So it really there really is very little snow. Natural

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Speaker 1: snow gears and snow borders will compete in the first

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Speaker 1: Winter Olympics to rely completely on artificial snow. Uh. That

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Speaker 1: means that it's it's not very eco friendly as they've

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Speaker 1: been saying it will be because of the amount of

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Speaker 1: water usage. Experts are saying that the area is actually

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Speaker 1: a place for water shortage and the making of the

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Speaker 1: snow requires a lot of energy and water. So the

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Speaker 1: two cities northwest of the capital that I just mentioned

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Speaker 1: that two zones are hosting the outsource seeing events. Something

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Speaker 1: I noticed after landing here, um and spending a few days,

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Speaker 1: my hands are so dry. The air just feels super dry.

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Speaker 1: So I can understand that you know, this may not

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Speaker 1: be the best winter sports venue or the winter sports city. Uh.

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Speaker 1: And that's that's another thing to experts are saying that

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Speaker 1: this is not the best place or time to host

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Speaker 1: the Winter Olympics. Roomy, what kind of access does the

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Speaker 1: media have to the athletes? Any chance for one on ones?

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Speaker 1: Is it called on virtual Is it all done press

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Speaker 1: conference style? Yeah, that that's something that we experienced in

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Speaker 1: the Tokyo Olympics as well. As there are some press

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Speaker 1: conferences that have already been scheduled. We get notices from

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Speaker 1: each Olympic Committee. So there are in person press conferences,

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Speaker 1: but they are limited. You have to reserve a seat.

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Speaker 1: The press rooms are are not too huge there within

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Speaker 1: the media center. There are some that are scheduled. Others

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Speaker 1: we are requesting via the Olympic Committee again to get

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Speaker 1: access to certain athletes online. UM, some of the athletes

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Speaker 1: I S folks who don't want to get full interviews

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Speaker 1: right now because they want to focus on the games.

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Speaker 1: That hasn't changed much from other other uh other times

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Speaker 1: in the Winter Olympics and Summer Olympics. But again because

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Speaker 1: of the COVID protocols, there's less door stepping. We can't

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Speaker 1: just grab an athlete and and interview them. The accesses

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Speaker 1: is definitely limited compared to Kyung Chang for example. So

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Speaker 1: just like Tokyo Olympics, there are more fertiles. UH, there's

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Speaker 1: a greater barrier between the press and the athletes. But

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Speaker 1: the IOC, the national Olympic committees are making efforts that

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Speaker 1: try to mitigate that by providing more opportunities for online

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Speaker 1: press offenses. Thanks Groomy. That's Bloomberg News reporter Karomi More

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Speaker 1: on the ground and Big Up next on the show.

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Speaker 1: He is the most decorated US Winter Olympian ever. Stay

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Speaker 1: tuned for Albert conversation with short track speed skater and

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Speaker 1: the Hall of Famer Apollo on No. That's straight Ahead

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Speaker 1: on Bloomberg Business with Sports. I'm Michael bar You can

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Speaker 1: follow me on Twitter at Big Bar Sports. I'm Scarlett

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Speaker 1: Fou on Twitter, I'm at Scarlett FU and I'm Mike

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Speaker 1: Lynch at Lynch w CVB. Hi. Can he cross the

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Speaker 1: line first? All up? It is I remember seeing that

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Speaker 1: and I just I can't say what I said at

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Speaker 1: first because I'm like, oh, my goodness, gracious, and I'm

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Speaker 1: sure you've heard that before. He is the most decorated

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Speaker 1: Winter Olympian in US history. That was Hall of Fame

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Speaker 1: short track speed skater Apollo on No capturing the gold

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Speaker 1: at the two thousand and six Winter Olympics in Italy,

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Speaker 1: and we are pleased to have him on the show.

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Speaker 1: Thank you for joining us, Apollo, Thanks for having me.

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Speaker 1: The first thing I have to start. Any athlete in

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Speaker 1: the Olympics, literally the world is watching. I can't imagine

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Speaker 1: the pressure that is on any athlete at that time. Well,

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Speaker 1: there's a tremendous amount of pressure, I think for every athlete,

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Speaker 1: but there's also I think a tremendous amount of like

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Speaker 1: joy and happiness that they have you know, trained so hard,

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Speaker 1: they have made this Olympic team and now you know,

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Speaker 1: metaphorically speaking, the kind of ripping open the curtain to

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Speaker 1: show the world and themselves, um, all of that hard

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Speaker 1: work and dedication, uh, in that split moment in time.

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Speaker 1: So while I think that you know, there's obviously a

429
00:24:38,280 --> 00:24:42,240
Speaker 1: ton of external pressure that we've seen that kind of

430
00:24:42,280 --> 00:24:46,040
Speaker 1: you know, leeks into kind of the athlete mentality, but

431
00:24:46,160 --> 00:24:49,520
Speaker 1: really most and important is that the opputes are there

432
00:24:49,600 --> 00:24:52,240
Speaker 1: and they've been through this process before. Right The ice

433
00:24:52,359 --> 00:24:54,800
Speaker 1: rink is exactly the same as it was two years ago,

434
00:24:54,960 --> 00:24:57,959
Speaker 1: one year ago, three months ago. There's nothing that's actually

435
00:24:58,040 --> 00:25:02,000
Speaker 1: changed mechanically. But I think we do definitely host this

436
00:25:02,440 --> 00:25:05,560
Speaker 1: competition on a pool and because of that, you know,

437
00:25:05,600 --> 00:25:09,520
Speaker 1: it feels like a decade or sometimes two decades is

438
00:25:09,560 --> 00:25:12,520
Speaker 1: really teetering on this moment in time that only lasts

439
00:25:12,600 --> 00:25:15,320
Speaker 1: forty seconds long, in which the difference between the person

440
00:25:15,400 --> 00:25:18,840
Speaker 1: cross signifinis line first is very close to the person

441
00:25:18,880 --> 00:25:21,400
Speaker 1: who is off the podium, and that's sometimes there's two

442
00:25:21,400 --> 00:25:24,439
Speaker 1: finger snaps, and so I think you're right, there's a

443
00:25:24,440 --> 00:25:26,800
Speaker 1: lot of pressure. The athletes have done a ton of

444
00:25:26,800 --> 00:25:30,280
Speaker 1: sports psychology training, but it's UH. It's a part of

445
00:25:30,320 --> 00:25:32,520
Speaker 1: the game. Also part of the game is when you

446
00:25:32,560 --> 00:25:35,080
Speaker 1: win UH and you get a gold medal put around

447
00:25:35,080 --> 00:25:40,440
Speaker 1: your neck, you get lots of opportunities to monetize. You

448
00:25:40,560 --> 00:25:44,960
Speaker 1: become an ambassador for brands and you're able to I

449
00:25:44,960 --> 00:25:46,680
Speaker 1: don't want to say cash and that's the wrong word,

450
00:25:46,720 --> 00:25:50,760
Speaker 1: but you're really able to strike some business opportunities. However,

451
00:25:50,800 --> 00:25:53,640
Speaker 1: where the situation now, where athletes travel all the way

452
00:25:53,680 --> 00:25:56,240
Speaker 1: to China, they may test positive, they may be in

453
00:25:56,320 --> 00:25:59,439
Speaker 1: quarantine when they're supposed to be competing. That takes away

454
00:25:59,560 --> 00:26:03,520
Speaker 1: that possibility for them to get those endorsements. How do

455
00:26:03,560 --> 00:26:05,520
Speaker 1: you think that plays out? I mean, how much of

456
00:26:05,560 --> 00:26:09,679
Speaker 1: that is part of an Olympians journey. I think the

457
00:26:09,760 --> 00:26:13,959
Speaker 1: cold hard truth about the Olympic journey is UH is

458
00:26:14,000 --> 00:26:17,320
Speaker 1: not really been financially incentivized in the same way that

459
00:26:17,400 --> 00:26:21,479
Speaker 1: perhaps many other professional sports are. You're absolutely right when

460
00:26:21,520 --> 00:26:23,640
Speaker 1: an athlete goes through with the games and something happens

461
00:26:23,640 --> 00:26:25,680
Speaker 1: that perhaps is outside of the control. They get sick,

462
00:26:25,760 --> 00:26:28,720
Speaker 1: they test positive, something weird happens where they're just not

463
00:26:28,800 --> 00:26:31,000
Speaker 1: on their game, and then you take that they gad

464
00:26:31,040 --> 00:26:36,400
Speaker 1: long sacrifice and dedication and at least from an outside perspective,

465
00:26:36,400 --> 00:26:39,280
Speaker 1: looks like it's thawn forever and there's no real value there,

466
00:26:39,320 --> 00:26:42,199
Speaker 1: and so it is tough. Right the the fleeting window

467
00:26:42,320 --> 00:26:44,480
Speaker 1: in which an Olympic athlete wins and metal and then

468
00:26:44,520 --> 00:26:48,159
Speaker 1: goes on television shows does the media circuit is celebrated

469
00:26:48,160 --> 00:26:52,359
Speaker 1: by brads, embraced by Americans all over the country. UM

470
00:26:52,480 --> 00:26:54,760
Speaker 1: seems to at least from the data we've seen, be

471
00:26:54,840 --> 00:26:57,800
Speaker 1: getting shorter and shorter. And by the way, that fifteen

472
00:26:57,800 --> 00:27:01,320
Speaker 1: minutes of same was really short before more UM. I

473
00:27:01,400 --> 00:27:03,520
Speaker 1: was very blessed in my career to be able to

474
00:27:03,320 --> 00:27:05,800
Speaker 1: to receive a lot of that benefit. But you have

475
00:27:05,880 --> 00:27:09,359
Speaker 1: to remember, for every one person, for every Shaun White,

476
00:27:09,440 --> 00:27:12,320
Speaker 1: for every Michael Fouls, for everyone of someone who's like me,

477
00:27:12,920 --> 00:27:17,159
Speaker 1: there is of the athletes who perhaps win silver or

478
00:27:17,200 --> 00:27:20,640
Speaker 1: bronze or just off of the podium where they work

479
00:27:20,840 --> 00:27:23,359
Speaker 1: just as hard, they put in just as much time,

480
00:27:23,880 --> 00:27:26,920
Speaker 1: but they have no recognition, There is no celebration and

481
00:27:26,960 --> 00:27:30,520
Speaker 1: sponsored to associated. And I think that that is perhaps

482
00:27:30,600 --> 00:27:34,360
Speaker 1: not dissimilar to many other industries, whether it's the entertainment industry,

483
00:27:34,440 --> 00:27:37,199
Speaker 1: where you know, to to maybe five of all of

484
00:27:37,200 --> 00:27:40,600
Speaker 1: the actors in the world make predominantly most of the money. Um,

485
00:27:40,640 --> 00:27:42,399
Speaker 1: it's really no different in the Olympic space. I just

486
00:27:42,400 --> 00:27:45,040
Speaker 1: think that the time frame in which that opportunity exists

487
00:27:45,080 --> 00:27:47,919
Speaker 1: is actually quite short. So you know, some of the

488
00:27:47,960 --> 00:27:49,639
Speaker 1: things that we have been focusing on is how do

489
00:27:49,680 --> 00:27:53,680
Speaker 1: we develop these insights and skills as athletes to transfer

490
00:27:53,720 --> 00:27:56,159
Speaker 1: when they're going be on sport when they need to

491
00:27:56,240 --> 00:27:59,399
Speaker 1: reinvent and they have to lose that first identity that

492
00:27:59,400 --> 00:28:02,399
Speaker 1: they were married too into the next identity, which is

493
00:28:02,480 --> 00:28:04,800
Speaker 1: what's next? What else am I good at? How can

494
00:28:04,840 --> 00:28:08,440
Speaker 1: I provide and be as productive um as I can

495
00:28:08,560 --> 00:28:11,440
Speaker 1: in my communities, in my society, And so that transition

496
00:28:11,520 --> 00:28:13,840
Speaker 1: is very very difficult, as it is from every person.

497
00:28:14,280 --> 00:28:16,040
Speaker 1: And hopefully we can set to see a lot more

498
00:28:16,080 --> 00:28:19,160
Speaker 1: desobic athletes really contributing in a way that I think

499
00:28:19,200 --> 00:28:25,080
Speaker 1: help businesses entrepreneurs and themselves thrive postal of the career. Hey, Apolo,

500
00:28:25,080 --> 00:28:28,000
Speaker 1: it's Mike Lynch up in Boston. The athletes in Beijing

501
00:28:28,440 --> 00:28:31,720
Speaker 1: will be competing over the next few weeks without any

502
00:28:31,880 --> 00:28:35,199
Speaker 1: people in the stands, without the crowd. Every athlete is

503
00:28:35,240 --> 00:28:37,520
Speaker 1: fueled by the crowd, especially when things are going well

504
00:28:37,600 --> 00:28:39,880
Speaker 1: for them. How difficult would it be for you to

505
00:28:39,920 --> 00:28:44,520
Speaker 1: perform at your absolute best with an empty rink. Well,

506
00:28:44,600 --> 00:28:47,960
Speaker 1: it's definitely going to be a different experience. I would

507
00:28:47,960 --> 00:28:50,400
Speaker 1: be remiss if I didn't say that these athletes are

508
00:28:50,920 --> 00:28:56,280
Speaker 1: and have no additional needed. Um. I think it's motivation

509
00:28:56,320 --> 00:28:59,560
Speaker 1: when at the Games, whether there's a million people watching

510
00:28:59,840 --> 00:29:04,040
Speaker 1: or are there's two coaches watching, the athletes are driven

511
00:29:04,200 --> 00:29:06,600
Speaker 1: and focused in a way that they want to perform

512
00:29:06,600 --> 00:29:10,560
Speaker 1: their best. Now it relates to me specifically. I loved

513
00:29:10,600 --> 00:29:13,080
Speaker 1: having a crowd there. I love knowing that my father

514
00:29:13,280 --> 00:29:15,920
Speaker 1: was in the stands like cheering and watching and he

515
00:29:15,960 --> 00:29:18,080
Speaker 1: was on the edge of his seat. My friends and

516
00:29:18,160 --> 00:29:21,320
Speaker 1: other family members and teammates. That was an important pull

517
00:29:21,640 --> 00:29:24,360
Speaker 1: of my experience of the Games. And you know, I

518
00:29:24,400 --> 00:29:27,640
Speaker 1: think we just have to be real it. Man. It sucks.

519
00:29:27,800 --> 00:29:31,040
Speaker 1: It sucks that the athletes cannot have their families there.

520
00:29:31,280 --> 00:29:35,000
Speaker 1: We live in a very uncertain time. The rules are

521
00:29:35,080 --> 00:29:38,560
Speaker 1: outside of our control. Um, this is a foreign nation

522
00:29:38,640 --> 00:29:41,920
Speaker 1: that's hosting the games on their rules and under their timeline.

523
00:29:42,000 --> 00:29:44,880
Speaker 1: And so I think that that's been a real challenge.

524
00:29:45,000 --> 00:29:49,320
Speaker 1: And you are you are going to see athletes perform well,

525
00:29:49,480 --> 00:29:52,200
Speaker 1: and you're going to see athletes perform not so well.

526
00:29:52,360 --> 00:29:54,920
Speaker 1: Deplubling on who is in the actual audience. Some athletes

527
00:29:55,080 --> 00:29:58,400
Speaker 1: rise to the occasion. There's athletes that really thrive upon

528
00:29:58,480 --> 00:30:01,560
Speaker 1: being clutch, right, the athletes that loves the roar of

529
00:30:01,600 --> 00:30:04,920
Speaker 1: the stadium or loves the roar of people chanting their name,

530
00:30:05,600 --> 00:30:10,280
Speaker 1: that doesn't exist. We're going to see silent competitions. And

531
00:30:10,640 --> 00:30:12,680
Speaker 1: it's almost feels like it's going to be a little

532
00:30:12,680 --> 00:30:15,200
Speaker 1: bit of a test event. Um. We have these things

533
00:30:15,200 --> 00:30:17,400
Speaker 1: where they call test events about you know, one month

534
00:30:17,480 --> 00:30:19,480
Speaker 1: or four months in advance of the Elemptic Games, where

535
00:30:19,480 --> 00:30:21,920
Speaker 1: the athletes go and train and compete on the actual

536
00:30:22,000 --> 00:30:25,840
Speaker 1: ice surface or has the location that's specified, and so

537
00:30:25,880 --> 00:30:28,040
Speaker 1: it's going to be different. But I think, you know,

538
00:30:28,240 --> 00:30:30,280
Speaker 1: my advice would be to those athletes is, look, this

539
00:30:30,360 --> 00:30:33,680
Speaker 1: is your time. Regardless of these external conditions. You have

540
00:30:33,880 --> 00:30:36,680
Speaker 1: to master the fact that you are here for a

541
00:30:36,760 --> 00:30:39,360
Speaker 1: specific purpose. Is what is really the most important thing

542
00:30:39,400 --> 00:30:42,040
Speaker 1: to you? Because unfortunately in twenty years, when we look

543
00:30:42,080 --> 00:30:44,360
Speaker 1: back upon the history books, I don't think there's going

544
00:30:44,400 --> 00:30:47,160
Speaker 1: to be an asterisk next to the results name. That's

545
00:30:47,200 --> 00:30:51,000
Speaker 1: not going to say Apollo Otto wins asterisk. Oh, but

546
00:30:51,040 --> 00:30:53,320
Speaker 1: there was also COVID nineteen and these other things that

547
00:30:53,360 --> 00:30:55,440
Speaker 1: were happening, and there was no fans. I don't think

548
00:30:55,480 --> 00:30:57,360
Speaker 1: it's going to say that, it's just to say the results.

549
00:30:57,760 --> 00:30:59,640
Speaker 1: I guess one of the biggest questions I have to

550
00:30:59,680 --> 00:31:03,480
Speaker 1: ask that has to be a head full of knowledge,

551
00:31:03,520 --> 00:31:06,600
Speaker 1: and that led to your book, Hard Pivot. Can you

552
00:31:06,680 --> 00:31:09,320
Speaker 1: tell us all about that. Yeah, the Heart Pivot book,

553
00:31:09,440 --> 00:31:10,840
Speaker 1: when it was written over the past two and a

554
00:31:10,880 --> 00:31:15,920
Speaker 1: half years, was really a combination of my own kind

555
00:31:15,960 --> 00:31:19,120
Speaker 1: of radically chance pen experiences of my own what I

556
00:31:19,160 --> 00:31:21,960
Speaker 1: call great divorce. And I was married to the world

557
00:31:21,960 --> 00:31:24,000
Speaker 1: of the Olympics and the path of speed skating and

558
00:31:24,360 --> 00:31:26,560
Speaker 1: at the snap of finger what I decided to retire

559
00:31:27,000 --> 00:31:30,120
Speaker 1: twelve years ago. Um, you know, I was forced with

560
00:31:30,160 --> 00:31:32,640
Speaker 1: this decision of what am I really going to do next?

561
00:31:32,720 --> 00:31:35,120
Speaker 1: What else can I do next. I had put everything

562
00:31:35,120 --> 00:31:37,360
Speaker 1: else on hold in my life. Nothing else seemed to

563
00:31:37,360 --> 00:31:40,640
Speaker 1: be as important. And also I was externally told that

564
00:31:40,760 --> 00:31:42,640
Speaker 1: this is what I was built for, this is what

565
00:31:42,720 --> 00:31:44,400
Speaker 1: I was here for, and this is what I was

566
00:31:44,480 --> 00:31:47,600
Speaker 1: celebrated for. And so I no longer have those head

567
00:31:47,640 --> 00:31:50,880
Speaker 1: nods of approval from my coaches and teammates and the

568
00:31:50,960 --> 00:31:53,800
Speaker 1: fans and the Olympic environment as a whole. And now

569
00:31:53,840 --> 00:31:56,520
Speaker 1: I was starting to pour that cup out early. And

570
00:31:56,600 --> 00:31:58,880
Speaker 1: so the whole purpose this book is to help people

571
00:31:59,360 --> 00:32:03,040
Speaker 1: identify I with their own purpose, embrace change in a

572
00:32:03,120 --> 00:32:07,000
Speaker 1: way that we understand critical and necessary for us to

573
00:32:07,040 --> 00:32:10,080
Speaker 1: transform and be our best self, and to show up fully,

574
00:32:10,320 --> 00:32:14,160
Speaker 1: knowing in wholeheartedly that life sometimes throws you these circumstances

575
00:32:14,200 --> 00:32:16,560
Speaker 1: that are outside of your control. But how we perceive

576
00:32:16,680 --> 00:32:20,840
Speaker 1: those those problems into challenges and then into opportunities is

577
00:32:21,520 --> 00:32:23,400
Speaker 1: at the soul heart of what this book is really

578
00:32:23,440 --> 00:32:27,040
Speaker 1: all about. You had five golden principles which apply not

579
00:32:27,120 --> 00:32:30,760
Speaker 1: only to athletics, but to business, to students in any

580
00:32:30,800 --> 00:32:32,920
Speaker 1: walk of life. Could just run through them and why

581
00:32:32,960 --> 00:32:36,000
Speaker 1: they mean so much to you? Yeah, I appreciate that.

582
00:32:36,120 --> 00:32:40,120
Speaker 1: So the five Golden principles are to me some of

583
00:32:40,120 --> 00:32:43,240
Speaker 1: the fundamentals that I've seen not only with myself but

584
00:32:43,320 --> 00:32:46,800
Speaker 1: also many other people that I've spoken to around how

585
00:32:46,840 --> 00:32:50,160
Speaker 1: they've reached this level of both success and reinvention. And

586
00:32:50,240 --> 00:32:53,920
Speaker 1: so it starts in this order. It's gratitude, it's giving,

587
00:32:54,520 --> 00:32:58,000
Speaker 1: it's grit, it's gearing up your personal expectations, and it's

588
00:32:58,040 --> 00:33:00,480
Speaker 1: getting into action. We've seen the dad in the science

589
00:33:00,480 --> 00:33:02,840
Speaker 1: around gratitude putting in us stated, putting you in a

590
00:33:02,880 --> 00:33:06,280
Speaker 1: state of mind that is present, thankful, and appreciative. We

591
00:33:06,400 --> 00:33:09,120
Speaker 1: know giving is not only to others, but it's also

592
00:33:09,280 --> 00:33:11,600
Speaker 1: the power of how when you give yourself the best

593
00:33:11,640 --> 00:33:14,800
Speaker 1: possible chance of success. And so, like many people, I

594
00:33:14,920 --> 00:33:17,479
Speaker 1: was a self saboteur. I would sometimes get in my

595
00:33:17,480 --> 00:33:19,480
Speaker 1: own way because I didn't believe that a I either

596
00:33:19,520 --> 00:33:22,680
Speaker 1: deserved to win, deserved what I was after, and or

597
00:33:22,720 --> 00:33:25,480
Speaker 1: I was afraid of not of showing up fully and

598
00:33:25,520 --> 00:33:28,600
Speaker 1: it just not being enough. And so remove those speed

599
00:33:28,600 --> 00:33:32,120
Speaker 1: bumps and hurdles that you're placing before yourself. Grit. It's

600
00:33:32,120 --> 00:33:34,720
Speaker 1: pretty self explanatory. Anyone who has been alive over the

601
00:33:34,720 --> 00:33:38,040
Speaker 1: past twenty four months knows how challenging this environment has

602
00:33:38,080 --> 00:33:41,400
Speaker 1: been um and great is our ability to embrace what's

603
00:33:41,400 --> 00:33:43,520
Speaker 1: to come, to embrace the fact that the journey is

604
00:33:43,560 --> 00:33:46,400
Speaker 1: not easy, uh, and be ready and dynamic and on

605
00:33:46,440 --> 00:33:49,200
Speaker 1: our toes for what is to come next, gearing up

606
00:33:49,200 --> 00:33:51,760
Speaker 1: our personal expectations. This is something that I think that

607
00:33:51,840 --> 00:33:54,160
Speaker 1: some of the greatest performance have always had, which is

608
00:33:54,520 --> 00:33:56,840
Speaker 1: if you're ready for a change, as many people have

609
00:33:56,920 --> 00:34:00,520
Speaker 1: written in their January one News resolutions, sometimes there comes

610
00:34:00,520 --> 00:34:03,040
Speaker 1: a point in your life when you say enough is enough.

611
00:34:03,480 --> 00:34:06,040
Speaker 1: I'm ready to make that change. And that internal switch

612
00:34:06,080 --> 00:34:08,920
Speaker 1: that goes on requires you to say, how do I

613
00:34:09,120 --> 00:34:12,680
Speaker 1: raise how do I raise my standard of excellence for myself?

614
00:34:12,719 --> 00:34:15,560
Speaker 1: And how do I keep myself accountable for those types

615
00:34:15,600 --> 00:34:18,600
Speaker 1: of actions really really important. And the last one is go.

616
00:34:19,200 --> 00:34:22,000
Speaker 1: You have to go and test the water. Go by doing,

617
00:34:22,280 --> 00:34:27,920
Speaker 1: learned by doing, and understand that the perfectionism uh paralysis

618
00:34:27,960 --> 00:34:32,680
Speaker 1: that exists in a lot of these different whether it's projects, presentations, businesses,

619
00:34:33,239 --> 00:34:35,680
Speaker 1: doing something for your own personal health and family, whatever

620
00:34:35,680 --> 00:34:39,840
Speaker 1: that is, don't be so afraid of not releasing that

621
00:34:40,000 --> 00:34:42,240
Speaker 1: until it's perfect, because it's never going to be perfect.

622
00:34:42,560 --> 00:34:45,640
Speaker 1: Life isn't perfect, and that's a part of how we

623
00:34:45,719 --> 00:34:48,359
Speaker 1: go through these experiences and so you have to go

624
00:34:48,640 --> 00:34:51,200
Speaker 1: out there and get after it. I wonder what you

625
00:34:51,239 --> 00:34:53,920
Speaker 1: think about some of the younger athletes will be competing

626
00:34:53,920 --> 00:34:56,399
Speaker 1: in the Games. UM. I think about Eileen Goo, who

627
00:34:56,480 --> 00:34:59,560
Speaker 1: is the California born and raised skier who will now

628
00:34:59,600 --> 00:35:03,719
Speaker 1: be com eating for China in the Games. And full disclosure,

629
00:35:03,719 --> 00:35:06,840
Speaker 1: her mom is from China. You are a half Japanese,

630
00:35:06,880 --> 00:35:10,000
Speaker 1: so you're Asian American. I'm curious to get your thoughts

631
00:35:10,160 --> 00:35:14,040
Speaker 1: on her decision, especially since we're in this moment in

632
00:35:14,080 --> 00:35:16,480
Speaker 1: time when there's a lot of anti Asian hate out

633
00:35:16,480 --> 00:35:19,680
Speaker 1: there and people are very quick to judge her on

634
00:35:20,400 --> 00:35:23,520
Speaker 1: switching sides, calling her a trader. This is not unusual

635
00:35:23,680 --> 00:35:27,600
Speaker 1: for athletes to compete for another country. I mean, the

636
00:35:27,719 --> 00:35:30,080
Speaker 1: US also imports athletes as well, so it's it's not

637
00:35:30,160 --> 00:35:32,960
Speaker 1: like it doesn't happen. Yeah. So I think that this

638
00:35:33,080 --> 00:35:35,960
Speaker 1: is and and we've seen this both in short track

639
00:35:36,000 --> 00:35:38,960
Speaker 1: speed skating. UM. Look, we don't know what's going on

640
00:35:39,040 --> 00:35:42,239
Speaker 1: in the minds of those athletes and the decisions that

641
00:35:42,280 --> 00:35:45,000
Speaker 1: are actually occurring in real time. UM. And I think

642
00:35:45,080 --> 00:35:48,440
Speaker 1: something that all of us need to to exercise is,

643
00:35:48,920 --> 00:35:52,080
Speaker 1: you know, just because our fundamental beliefs are through our

644
00:35:52,160 --> 00:35:55,440
Speaker 1: own lens, and visibility doesn't necessarily mean we have the

645
00:35:55,520 --> 00:35:57,839
Speaker 1: right to export that belief on someone who we don't

646
00:35:57,920 --> 00:36:01,800
Speaker 1: understand now in the arts to this particular situation, obviously,

647
00:36:01,840 --> 00:36:05,960
Speaker 1: it's very sensitive. The geopolitical UH challenges that are existent

648
00:36:06,040 --> 00:36:08,640
Speaker 1: between the U S and China are very very relevant,

649
00:36:08,719 --> 00:36:11,080
Speaker 1: and they're very front of mind right now. So I

650
00:36:11,239 --> 00:36:13,040
Speaker 1: look at the last thing that I ever want to

651
00:36:13,080 --> 00:36:17,160
Speaker 1: see is an athlete being used as the catalyst and

652
00:36:17,400 --> 00:36:21,680
Speaker 1: or pawn between a larger game between two rival countries.

653
00:36:21,760 --> 00:36:25,680
Speaker 1: It's just it's just really really challenging to utilize that right. Um,

654
00:36:25,719 --> 00:36:27,920
Speaker 1: the athlete is there to compete as best as they

655
00:36:27,920 --> 00:36:31,759
Speaker 1: possibly can. The decisions in which they make right wrong, good,

656
00:36:31,840 --> 00:36:34,359
Speaker 1: bad doesn't really matter, right, It's it's up to them

657
00:36:34,480 --> 00:36:36,719
Speaker 1: to live their life in that way. And so I

658
00:36:37,040 --> 00:36:40,719
Speaker 1: don't understand, um, what goes on the mind of any athlete, right,

659
00:36:40,760 --> 00:36:43,520
Speaker 1: I mean, there were several American athletes that went overseas

660
00:36:43,520 --> 00:36:46,840
Speaker 1: and competed for other countries as well. From our speed

661
00:36:46,840 --> 00:36:50,000
Speaker 1: skating team. Um, there were star athletes who moved from

662
00:36:50,080 --> 00:36:52,880
Speaker 1: South Korea to Russia to compete in the two thousand

663
00:36:52,920 --> 00:36:56,759
Speaker 1: fourteen games. So I don't know the incentivization structures that

664
00:36:56,800 --> 00:37:00,360
Speaker 1: exist for those decisions. I'm assuming that they would be

665
00:37:00,440 --> 00:37:04,239
Speaker 1: something of interesting, um, But again I just don't know.

666
00:37:04,400 --> 00:37:07,480
Speaker 1: It definitely is a sensitive time. UM. You know, when

667
00:37:07,520 --> 00:37:10,160
Speaker 1: I was competing, it is never crossed my mind to

668
00:37:10,200 --> 00:37:12,360
Speaker 1: compete for any other country except for the US. It

669
00:37:12,480 --> 00:37:15,359
Speaker 1: was like a nonstart the conversation, UM. And I took

670
00:37:15,360 --> 00:37:17,000
Speaker 1: a lot of pride of that, right. I felt that

671
00:37:17,000 --> 00:37:21,040
Speaker 1: that was actually an advantage, regardless of other technological advances

672
00:37:21,080 --> 00:37:24,920
Speaker 1: that other teams and coaches and countries had. I don't know,

673
00:37:25,000 --> 00:37:26,760
Speaker 1: and maybe that was very naive of me to believe,

674
00:37:26,800 --> 00:37:30,200
Speaker 1: but I just fundamentally believe that me being American, having

675
00:37:30,239 --> 00:37:34,439
Speaker 1: this diversity um of coaching and interaction in the way

676
00:37:34,480 --> 00:37:37,799
Speaker 1: that we approached sport was actually the ultimate of advantages.

677
00:37:38,040 --> 00:37:43,040
Speaker 1: And m I wanted to showcase that apollo mental health issues.

678
00:37:43,160 --> 00:37:46,600
Speaker 1: We've seen it with Naomi Osaka, some own biles in

679
00:37:46,640 --> 00:37:49,680
Speaker 1: the Olympics. This is the ultimate pressure cooker for athletes.

680
00:37:50,239 --> 00:37:54,000
Speaker 1: Is this something that's been percolating for years? Look, I

681
00:37:54,000 --> 00:37:58,800
Speaker 1: think anything that revolves around ultra high performance and intense

682
00:37:58,840 --> 00:38:03,880
Speaker 1: situation is always going to have a another side of

683
00:38:03,880 --> 00:38:07,760
Speaker 1: that psychological process that is perhaps very damaging, scary and

684
00:38:07,760 --> 00:38:10,919
Speaker 1: and and dangerous. UM. The mental as the mental health

685
00:38:10,960 --> 00:38:13,759
Speaker 1: aspect of Olympic athletes, and the path has always been there.

686
00:38:14,200 --> 00:38:16,439
Speaker 1: I think the conditioning mechanism that all of the TB

687
00:38:16,520 --> 00:38:20,440
Speaker 1: lived in is this idea that strength is defined by

688
00:38:20,480 --> 00:38:23,920
Speaker 1: a very black and white term, meaning you have to

689
00:38:23,960 --> 00:38:28,279
Speaker 1: be strong, you show no emotion, you're a warrior, etcetera, etcetera. UM.

690
00:38:28,360 --> 00:38:30,879
Speaker 1: And I think as we move towards a much more

691
00:38:31,760 --> 00:38:35,359
Speaker 1: proper prehensive and complex and also open society and which

692
00:38:35,440 --> 00:38:37,840
Speaker 1: we're willing to talk about these things in real time,

693
00:38:38,320 --> 00:38:41,080
Speaker 1: you see athletes coming out and saying like, hey, I

694
00:38:41,200 --> 00:38:44,640
Speaker 1: have gone through how leaching this point in time, and

695
00:38:44,760 --> 00:38:47,920
Speaker 1: my support is dangerous and I don't feel well. But really,

696
00:38:48,080 --> 00:38:50,520
Speaker 1: aside from all of those things, I think the most

697
00:38:50,560 --> 00:38:53,520
Speaker 1: important thing is we've seen both teammates of mind and

698
00:38:53,600 --> 00:38:57,080
Speaker 1: friends of mine take their own lives in pursuit of

699
00:38:57,080 --> 00:38:59,640
Speaker 1: those games, not even being at the games, but actually

700
00:38:59,640 --> 00:39:04,040
Speaker 1: in suit where their deepest, darkest fears and voices are

701
00:39:04,040 --> 00:39:06,760
Speaker 1: the ones that are maintaining control over that person's psyche.

702
00:39:07,080 --> 00:39:08,960
Speaker 1: And this is not unlike what we've seen in the

703
00:39:09,000 --> 00:39:12,080
Speaker 1: military or anyone else in this country who has faced

704
00:39:12,120 --> 00:39:15,000
Speaker 1: with real mental health challenges, And the fact that we're

705
00:39:15,000 --> 00:39:18,440
Speaker 1: able to talk about these things openly shows me that

706
00:39:18,520 --> 00:39:20,799
Speaker 1: we have progress, shows me that this is something that

707
00:39:20,920 --> 00:39:23,719
Speaker 1: is important to us as a society, and also showcases

708
00:39:23,719 --> 00:39:26,360
Speaker 1: to the world that says, hey, you've put these athletes

709
00:39:26,360 --> 00:39:29,600
Speaker 1: on a pedestal for so long and for good reasons,

710
00:39:29,880 --> 00:39:32,399
Speaker 1: but also don't ever forget the fact that they are

711
00:39:32,480 --> 00:39:35,440
Speaker 1: still human. They're just like you and I. They just

712
00:39:35,520 --> 00:39:39,239
Speaker 1: simply do something selely dedicated for their entire life, and

713
00:39:39,280 --> 00:39:41,399
Speaker 1: they happen to be exceptional at that. But they still

714
00:39:41,440 --> 00:39:44,080
Speaker 1: have the same conversations I did. I still have the

715
00:39:44,080 --> 00:39:46,560
Speaker 1: same insecurities and self doubts. Am I good enough? Am

716
00:39:46,600 --> 00:39:48,439
Speaker 1: I ever going to be good enough? Is it going

717
00:39:48,480 --> 00:39:51,520
Speaker 1: to be good enough? Fears of failure? Right, Whatever these

718
00:39:51,560 --> 00:39:54,960
Speaker 1: things are, they can be paralyzing or they can be

719
00:39:55,040 --> 00:39:58,640
Speaker 1: used as incredible catalysts for growth and to propel you

720
00:39:58,640 --> 00:40:01,400
Speaker 1: towards your goal. And so I think in the past,

721
00:40:01,480 --> 00:40:03,640
Speaker 1: we never had that outlet to talk about. It wasn't

722
00:40:03,640 --> 00:40:05,799
Speaker 1: a part of the system. Right. The Olympic Games as

723
00:40:05,840 --> 00:40:10,000
Speaker 1: a whole still is generally designed to turn metals. That's

724
00:40:10,000 --> 00:40:12,759
Speaker 1: the idea is to go perform, to get as many

725
00:40:12,800 --> 00:40:16,360
Speaker 1: metals as possible, to create those sponship opportunities, and that

726
00:40:16,520 --> 00:40:18,839
Speaker 1: is the commercialization behind the games. And I think that

727
00:40:19,160 --> 00:40:21,520
Speaker 1: something when we can go beyond the level and texture

728
00:40:21,560 --> 00:40:24,719
Speaker 1: associated with that statement is saying these Olympic athletes have

729
00:40:24,840 --> 00:40:27,279
Speaker 1: so much more to give to our communities and societies.

730
00:40:27,520 --> 00:40:29,640
Speaker 1: They need to be treated as such, and so if

731
00:40:29,640 --> 00:40:33,319
Speaker 1: there is challenges, let's help them work through those so

732
00:40:33,360 --> 00:40:35,120
Speaker 1: they could still be their best selves, they could still

733
00:40:35,120 --> 00:40:37,440
Speaker 1: pursue the sport that they love to do. In addition,

734
00:40:37,520 --> 00:40:39,680
Speaker 1: providing that example to the rest of the world and

735
00:40:39,760 --> 00:40:42,279
Speaker 1: to our country that hey, if you're not okay, let's

736
00:40:42,320 --> 00:40:44,160
Speaker 1: figure out how we can get you to a state

737
00:40:44,160 --> 00:40:46,760
Speaker 1: where you're living in life that has well lived versus

738
00:40:46,760 --> 00:40:48,600
Speaker 1: one that you feel like you're in a prison between

739
00:40:48,600 --> 00:40:50,879
Speaker 1: your own two years. I like to ask you about

740
00:40:50,880 --> 00:40:54,799
Speaker 1: your personal financial management advice because you were named a

741
00:40:54,920 --> 00:41:00,759
Speaker 1: financial hero by the company Personal Capital. To us about that,

742
00:41:00,880 --> 00:41:02,920
Speaker 1: because like you said earlier, you're one of the lucky

743
00:41:02,960 --> 00:41:06,880
Speaker 1: ones with the name recognition and the sponsorship and the

744
00:41:06,920 --> 00:41:09,520
Speaker 1: money came in. Can you tell us about how you

745
00:41:09,600 --> 00:41:12,920
Speaker 1: managed your money like that? Yeah, well I can tell

746
00:41:12,960 --> 00:41:15,120
Speaker 1: you twofold and I talked a lot about it, a

747
00:41:15,160 --> 00:41:17,600
Speaker 1: lot about this in my book. Um, you know, I

748
00:41:17,680 --> 00:41:21,680
Speaker 1: had no formal kind of guidance and education around finance,

749
00:41:22,040 --> 00:41:25,760
Speaker 1: something that I became very interested in, uh when I retired,

750
00:41:25,800 --> 00:41:27,719
Speaker 1: But for the most part, I had to learn through

751
00:41:27,719 --> 00:41:31,520
Speaker 1: my own mistakes and issues. And so the real idea

752
00:41:31,560 --> 00:41:34,200
Speaker 1: here is how do we create an environment where we're

753
00:41:34,239 --> 00:41:38,640
Speaker 1: talking about these kind of very specific and important issues

754
00:41:38,719 --> 00:41:41,399
Speaker 1: around finances for our own personal lives and making sure

755
00:41:41,440 --> 00:41:44,120
Speaker 1: that we remaining focused on the fact. And so, something

756
00:41:44,160 --> 00:41:47,120
Speaker 1: that I've seen that we all know and understand is

757
00:41:47,400 --> 00:41:49,480
Speaker 1: we spent so much of our time zoomed in on

758
00:41:49,520 --> 00:41:52,840
Speaker 1: the nitty gritty details. And there's this comparative analysis that

759
00:41:52,880 --> 00:41:55,760
Speaker 1: exists in all of us. Right, that's how competition thrives.

760
00:41:55,880 --> 00:41:59,200
Speaker 1: But when we're constantly comparing what this person has, this

761
00:41:59,239 --> 00:42:01,960
Speaker 1: person is so young, he's accomplished, she's accomplished so much

762
00:42:02,160 --> 00:42:04,440
Speaker 1: at such a such a young age. All of the

763
00:42:04,480 --> 00:42:07,960
Speaker 1: different avenues of modifization that exists from all the new

764
00:42:08,200 --> 00:42:12,560
Speaker 1: types of businesses and startups and verticals that people are exploring. Now, Um,

765
00:42:12,600 --> 00:42:15,880
Speaker 1: it's easy to become very distracted. And the number one

766
00:42:15,920 --> 00:42:18,960
Speaker 1: focal point that we've always had is zoom out what

767
00:42:19,160 --> 00:42:21,240
Speaker 1: is important to you and how do you remain focused

768
00:42:21,239 --> 00:42:24,239
Speaker 1: on that path? Because doing the deepest of work and

769
00:42:24,280 --> 00:42:27,160
Speaker 1: doing the actual work is not only the shortcut, it's

770
00:42:27,200 --> 00:42:29,960
Speaker 1: also the lowest hanging fruit in the world that's filled

771
00:42:30,000 --> 00:42:32,840
Speaker 1: with the surrection, filled with everything that's tried to hijack

772
00:42:32,880 --> 00:42:35,680
Speaker 1: and grab your attention for five, ten, fifteen minutes at

773
00:42:35,680 --> 00:42:39,160
Speaker 1: a time. And so as with anything like the Olympic Path,

774
00:42:39,480 --> 00:42:41,879
Speaker 1: it's not done overnight, it's not done in one year,

775
00:42:41,920 --> 00:42:43,719
Speaker 1: it's not even done in two years. These things take

776
00:42:43,800 --> 00:42:47,880
Speaker 1: four to eight and sometimes twelve years of compounding of

777
00:42:48,040 --> 00:42:53,040
Speaker 1: daily training, dedication, sacrifice, and persistence in order to have

778
00:42:53,520 --> 00:42:56,879
Speaker 1: the greatest value of compounded return over time. But those

779
00:42:56,920 --> 00:42:59,839
Speaker 1: things are done incrementally, just like we have in fine

780
00:43:00,200 --> 00:43:02,120
Speaker 1: and so some of the greatest investors in the planet

781
00:43:02,640 --> 00:43:05,600
Speaker 1: and done the same thing where they've taken very long

782
00:43:05,719 --> 00:43:09,280
Speaker 1: term views and approaches in terms of being dedicated and focused.

783
00:43:09,360 --> 00:43:12,600
Speaker 1: And the reason why that's so hard because we love

784
00:43:12,719 --> 00:43:16,160
Speaker 1: instant gratification and in the world where we are really

785
00:43:16,200 --> 00:43:19,240
Speaker 1: promoting that in every essence, every button you press. Every

786
00:43:19,320 --> 00:43:23,200
Speaker 1: interaction that you have gives you the smallest of dopamine rushes,

787
00:43:23,320 --> 00:43:26,160
Speaker 1: and so the ones who were able to maintain that control,

788
00:43:26,200 --> 00:43:28,960
Speaker 1: I think you have a real edge over your personal

789
00:43:29,000 --> 00:43:31,200
Speaker 1: finances of life. I like what you said about instant

790
00:43:31,200 --> 00:43:33,640
Speaker 1: gratification because it can feel that way when we're watching

791
00:43:33,640 --> 00:43:37,920
Speaker 1: the Olympics and seeing these incredible athletes perform well and

792
00:43:37,920 --> 00:43:42,719
Speaker 1: and achieve their goals, and because we we don't necessarily

793
00:43:42,719 --> 00:43:45,040
Speaker 1: know a lot about them in the intervening years while

794
00:43:45,040 --> 00:43:47,360
Speaker 1: they're training, and then we learn about them as we

795
00:43:47,400 --> 00:43:49,200
Speaker 1: get closer to the Olympics, we root for them, and

796
00:43:49,200 --> 00:43:51,920
Speaker 1: there's that instant gratification, like they did it. And of

797
00:43:51,960 --> 00:43:55,400
Speaker 1: course yes there's the backstory of how they trained for

798
00:43:55,400 --> 00:43:58,160
Speaker 1: this all their lives, but the American public doesn't always

799
00:43:58,160 --> 00:44:01,160
Speaker 1: know the backstory. We just kind they jump in towards

800
00:44:01,200 --> 00:44:04,880
Speaker 1: the end, right when they're about to compete. I'm curious, Apollo,

801
00:44:05,320 --> 00:44:07,439
Speaker 1: to hear about how you're going to do your job

802
00:44:07,520 --> 00:44:11,439
Speaker 1: this Winter Olympics as a short track analyst when you're

803
00:44:11,480 --> 00:44:13,719
Speaker 1: not going to be in Beijing. How are you going

804
00:44:13,719 --> 00:44:15,880
Speaker 1: to be broadcasting remotely? How are you going to be

805
00:44:15,960 --> 00:44:20,319
Speaker 1: analyzing the races. So there's a big change this year.

806
00:44:21,280 --> 00:44:23,719
Speaker 1: As you mentioned, I won't be in Beijing. You know,

807
00:44:23,760 --> 00:44:27,560
Speaker 1: I'll be spending most of my time bouncing between UH Stanford,

808
00:44:27,600 --> 00:44:30,680
Speaker 1: Connecticut and also in Park City, and so for the

809
00:44:30,719 --> 00:44:33,360
Speaker 1: first time we're doing these kind of live to tape.

810
00:44:33,920 --> 00:44:37,600
Speaker 1: I'll be bouncing around the different hospitality houses, mingling with

811
00:44:37,640 --> 00:44:41,319
Speaker 1: the different UH both sponsors, but also talking about the

812
00:44:41,320 --> 00:44:43,120
Speaker 1: sport in a way that hopefully can shed some lighten

813
00:44:43,160 --> 00:44:45,839
Speaker 1: to what's happening. UM. I very much wanted to be

814
00:44:45,840 --> 00:44:50,120
Speaker 1: in Beijing. I really I actually really enjoy the city. UM.

815
00:44:50,160 --> 00:44:53,040
Speaker 1: I love being there live to see the athletes compete,

816
00:44:53,280 --> 00:44:55,560
Speaker 1: and so being able to do so is a combination

817
00:44:55,560 --> 00:44:58,040
Speaker 1: of just communicating with the coaches and athletes in real time,

818
00:44:58,600 --> 00:45:00,440
Speaker 1: which I've been doing. I've been getting up dates and

819
00:45:00,640 --> 00:45:03,440
Speaker 1: people sending me pictures about what's happening. Actually went to

820
00:45:03,520 --> 00:45:07,400
Speaker 1: the actual send off at l a X pre athletes

821
00:45:08,080 --> 00:45:10,040
Speaker 1: before they got on their flight to see all the

822
00:45:10,040 --> 00:45:12,399
Speaker 1: athletes bore their flight as they went on that charter

823
00:45:12,440 --> 00:45:14,719
Speaker 1: all the way to Beijing. So it's going to be

824
00:45:14,719 --> 00:45:20,320
Speaker 1: a very very different time. Apollo oh No speed Skater Extraordinaire.

825
00:45:20,760 --> 00:45:27,719
Speaker 1: Scarlet Food Bloomberg Business Finance Extraordinaire, Mike Lynch, who is

826
00:45:27,840 --> 00:45:30,839
Speaker 1: the sports extraordinaire, And then you're gonna come to me,

827
00:45:31,520 --> 00:45:35,520
Speaker 1: Captain Silly Goose, because I love game shows. You were

828
00:45:35,560 --> 00:45:39,160
Speaker 1: a game show host and you were on the show

829
00:45:39,360 --> 00:45:41,880
Speaker 1: Minute to Win it. I love that game show because

830
00:45:41,920 --> 00:45:43,840
Speaker 1: I'm an old geek, because it's kind of like a

831
00:45:43,960 --> 00:45:46,640
Speaker 1: version of the old beat the clock. You have to

832
00:45:46,680 --> 00:45:49,319
Speaker 1: tell me about that before we let you go. So

833
00:45:50,040 --> 00:45:54,640
Speaker 1: one of the most blessed experiences I've had post Olympic

834
00:45:54,680 --> 00:45:58,600
Speaker 1: career is the fact that we've been approached by many

835
00:45:58,680 --> 00:46:02,319
Speaker 1: different organizations entertainment companies to participate in things like this,

836
00:46:02,320 --> 00:46:05,239
Speaker 1: whether it was dancing, was Dancing with the Stars, Um

837
00:46:05,360 --> 00:46:09,200
Speaker 1: I went on that twice. With hosting game shows, doing cameos,

838
00:46:09,600 --> 00:46:12,640
Speaker 1: these were all a part of my own reinvention, right. So,

839
00:46:12,760 --> 00:46:16,280
Speaker 1: as I mentioned before, like I lived in this environment

840
00:46:16,280 --> 00:46:18,359
Speaker 1: where I did one thing all day, every day. That's

841
00:46:18,360 --> 00:46:20,400
Speaker 1: all I cared about, So I thought was important and

842
00:46:20,440 --> 00:46:22,480
Speaker 1: so a part of that reinvention was for me to

843
00:46:22,560 --> 00:46:25,680
Speaker 1: say yes and to say yes to as many opportunities

844
00:46:25,680 --> 00:46:28,239
Speaker 1: and chances as possible, even if I was afraid of

845
00:46:28,360 --> 00:46:31,280
Speaker 1: doing them, even if I didn't know what the out was, outcome,

846
00:46:31,320 --> 00:46:33,520
Speaker 1: what was going to be even if that voice inside

847
00:46:33,560 --> 00:46:35,560
Speaker 1: my head said that, hey, what are you doing, Like,

848
00:46:35,600 --> 00:46:37,520
Speaker 1: why are you going out of your lane? Stick to

849
00:46:37,560 --> 00:46:40,239
Speaker 1: what you're good at? But that's that's not living to me,

850
00:46:40,320 --> 00:46:42,480
Speaker 1: and that was really important. So that game show was

851
00:46:43,400 --> 00:46:46,279
Speaker 1: really hard to film, but it was It was really

852
00:46:46,320 --> 00:46:48,759
Speaker 1: amazing at the same time where it forces you to

853
00:46:48,760 --> 00:46:51,520
Speaker 1: get in these uncomfortable zones and environments and learn on

854
00:46:51,600 --> 00:46:54,680
Speaker 1: the fly, just like everything else in life. So very

855
00:46:54,680 --> 00:46:58,560
Speaker 1: grateful for that chance. Go baby, that's what's all about.

856
00:46:58,920 --> 00:47:01,120
Speaker 1: A follow on, a thank you so much. You were

857
00:47:01,160 --> 00:47:04,040
Speaker 1: so kind to stop by and and give this your

858
00:47:04,040 --> 00:47:07,640
Speaker 1: time and and your knowledge. Again, thank you so much there,

859
00:47:08,000 --> 00:47:11,320
Speaker 1: thank you so much. I appreciate the time Scarlett. I

860
00:47:12,000 --> 00:47:16,319
Speaker 1: just what a joy to talk to him, and I

861
00:47:16,360 --> 00:47:18,400
Speaker 1: really meant it. The knowledge that he dropped on us

862
00:47:18,560 --> 00:47:21,440
Speaker 1: was important. I didn't get to ask him how often

863
00:47:21,440 --> 00:47:24,560
Speaker 1: he skates now and whether he skates and speed skates

864
00:47:24,719 --> 00:47:28,160
Speaker 1: or hockey skates or figure skates. I mean, that's just

865
00:47:28,200 --> 00:47:32,200
Speaker 1: my own curiosity. But it's so interesting to hear um

866
00:47:32,239 --> 00:47:35,000
Speaker 1: the story of former Olympians and how they use that

867
00:47:35,080 --> 00:47:38,480
Speaker 1: currency and how they move forward. And he's a good

868
00:47:38,480 --> 00:47:43,040
Speaker 1: example of someone who can articulate how how much dedication,

869
00:47:43,239 --> 00:47:45,600
Speaker 1: single minded focus it takes to become an Olympian and

870
00:47:45,640 --> 00:47:49,480
Speaker 1: then the pivot that's required, the rethink, the reset that's

871
00:47:49,520 --> 00:47:54,439
Speaker 1: required to kind of rejoin um civilian life in a way.

872
00:47:54,640 --> 00:47:56,799
Speaker 1: You know, I'd like the fact that he recognized people

873
00:47:56,800 --> 00:47:59,080
Speaker 1: who don't make it to the podium. They were for

874
00:47:59,320 --> 00:48:02,239
Speaker 1: years and years to get there. And and I'm going

875
00:48:02,320 --> 00:48:04,799
Speaker 1: to translate for him, you don't necessarily have to have

876
00:48:04,800 --> 00:48:06,400
Speaker 1: a medal around your neck to be a winner or

877
00:48:06,400 --> 00:48:09,560
Speaker 1: a champion. Yeah, there are many people that participate in

878
00:48:09,640 --> 00:48:12,719
Speaker 1: the Olympics. First of all, that's an achievement in itself

879
00:48:13,040 --> 00:48:16,879
Speaker 1: to get to the Olympics. And and I mean this

880
00:48:16,920 --> 00:48:20,760
Speaker 1: man made it way above and beyond. We're talking eight

881
00:48:20,800 --> 00:48:23,920
Speaker 1: time medalists, two gold to silver, four bronze in the

882
00:48:23,960 --> 00:48:27,160
Speaker 1: Winter Olympics. I mean that that's really doing something. And

883
00:48:27,600 --> 00:48:31,239
Speaker 1: listening listening to him talk, Uh, he's such a humble man,

884
00:48:31,480 --> 00:48:34,240
Speaker 1: and it's really is a pleasure. And the journey doesn't

885
00:48:34,320 --> 00:48:38,520
Speaker 1: end right, It's it's always a constant um, not reinvention,

886
00:48:38,600 --> 00:48:45,799
Speaker 1: but a constant reassessment, revaluations, kids. Feels better to be

887
00:48:45,920 --> 00:48:47,680
Speaker 1: on the one than number five. I'll wear a number

888
00:48:47,719 --> 00:48:49,319
Speaker 1: because of Mike. We have a chance to go for

889
00:48:49,360 --> 00:48:51,040
Speaker 1: three and a row. Good numbers are a good time.

890
00:48:51,080 --> 00:48:53,120
Speaker 1: When I first started wearing the number, how we just

891
00:48:53,160 --> 00:48:56,520
Speaker 1: have the im proud Floomberg business of sports. The number

892
00:48:56,560 --> 00:48:59,919
Speaker 1: of the week. You know what it's time for. It's

893
00:49:00,080 --> 00:49:06,480
Speaker 1: time now for the number of the week. Come on

894
00:49:06,600 --> 00:49:11,040
Speaker 1: out here, everybody. We are going to now see. At first,

895
00:49:11,040 --> 00:49:14,920
Speaker 1: I was going to talk about the Patriots and evaluation,

896
00:49:15,280 --> 00:49:17,320
Speaker 1: and I'm like, wait a minute, that's not even fair

897
00:49:17,400 --> 00:49:21,160
Speaker 1: because then you know Chi yeah, I mean you know,

898
00:49:21,280 --> 00:49:23,840
Speaker 1: Lynchi is like, don't you asked me how many fingers

899
00:49:23,880 --> 00:49:27,879
Speaker 1: I got on my hand? You know? So, But this one, uh,

900
00:49:27,920 --> 00:49:30,839
Speaker 1: we're gonna talk about the state of Virginia. Now. More

901
00:49:30,880 --> 00:49:35,040
Speaker 1: than half of Virginia sports betting went untaxed last year,

902
00:49:35,080 --> 00:49:39,000
Speaker 1: according to the state lottery. What I want to know is,

903
00:49:39,800 --> 00:49:43,600
Speaker 1: in total, for the first year of legal betting, what

904
00:49:43,719 --> 00:49:48,320
Speaker 1: did they take in in taxes or just in overall bets?

905
00:49:48,400 --> 00:49:53,040
Speaker 1: Overall bets last year. I was just texting with someone

906
00:49:53,080 --> 00:49:56,560
Speaker 1: who was ahead of the DC Lottery a couple of

907
00:49:56,640 --> 00:50:00,399
Speaker 1: days ago. I'm gonna do my usual routine part. When

908
00:50:00,680 --> 00:50:03,360
Speaker 1: was gambling legalized in Virginia for the entire year. It

909
00:50:03,520 --> 00:50:07,000
Speaker 1: was state's first year of legal betting. Full year. I'll

910
00:50:07,040 --> 00:50:10,040
Speaker 1: even give you a hint. I'll even give me A

911
00:50:09,000 --> 00:50:14,160
Speaker 1: hundred fifty five million of it was supposed to be taxable.

912
00:50:16,120 --> 00:50:19,160
Speaker 1: A hundred fifty five million of it was supposed to

913
00:50:19,160 --> 00:50:25,960
Speaker 1: be taxed. Dollars dollars hit boardwalk, park place, just throw

914
00:50:26,000 --> 00:50:33,600
Speaker 1: it all day. I'm going to say seven eighty six million,

915
00:50:34,600 --> 00:50:37,520
Speaker 1: just to throw at a number. Is this how much

916
00:50:37,600 --> 00:50:42,279
Speaker 1: was wagered? This is uh, this is what the operators

917
00:50:42,320 --> 00:50:45,560
Speaker 1: made in the state's first year of legal betting. The

918
00:50:45,600 --> 00:50:53,080
Speaker 1: revenue they took in, The revenue they took in, two

919
00:50:53,080 --> 00:50:58,560
Speaker 1: and a half billion. This one was way lower than

920
00:50:58,600 --> 00:51:01,719
Speaker 1: I thought. Uh. Hundred fifty five million of the two

921
00:51:01,840 --> 00:51:06,000
Speaker 1: hundred eighty five million operators made in the state's first

922
00:51:06,080 --> 00:51:09,400
Speaker 1: year of legal betting was not subject to Virginia taxes

923
00:51:09,680 --> 00:51:13,120
Speaker 1: thanks to a law that allows massive deductions for free

924
00:51:13,400 --> 00:51:18,279
Speaker 1: promotional bets and losses, per data that was released by

925
00:51:18,360 --> 00:51:20,799
Speaker 1: the state lottery. So I was way off, but I

926
00:51:20,840 --> 00:51:26,239
Speaker 1: want you were way off, but you want in your

927
00:51:26,280 --> 00:51:32,480
Speaker 1: face and lovely parting gifts, you get Rice Errony, and

928
00:51:32,480 --> 00:51:34,800
Speaker 1: you also get the Lee press on nails that everybody's

929
00:51:34,840 --> 00:51:39,640
Speaker 1: been talking about. Do we have penalties for taunting? I think,

930
00:51:39,680 --> 00:51:46,680
Speaker 1: I think, think Scarlett. This is the Bloomberg Business of

931
00:51:46,719 --> 00:51:48,719
Speaker 1: Sports show. We are here each and every week at

932
00:51:48,719 --> 00:51:51,320
Speaker 1: the same time, plus online wherever you get your podcast.

933
00:51:51,600 --> 00:51:54,320
Speaker 1: You can catch those Mondays, Wednesdays and Thursdays on Michael

934
00:51:54,320 --> 00:51:56,959
Speaker 1: Barr on Twitter at Big Bar Sports. Sometimes it's big money,

935
00:51:57,040 --> 00:51:59,120
Speaker 1: sometimes it's smaller money. In the case of this week's

936
00:51:59,160 --> 00:52:01,520
Speaker 1: number of the week, I'm Scarlet Food. I'm at Scarlett

937
00:52:01,560 --> 00:52:03,719
Speaker 1: Foe all right, and we're gonna review that penalty flag.

938
00:52:03,760 --> 00:52:05,319
Speaker 1: But I think the penalty is going to be uphel

939
00:52:05,400 --> 00:52:08,839
Speaker 1: taunting on Scarlet Food. Meantime, we'll catch you next week.

940
00:52:08,880 --> 00:52:11,719
Speaker 1: I'm Mike Lynch at Lynch w CD. D Well, it

941
00:52:11,719 --> 00:52:14,040
Speaker 1: looks like Vinchi isn't doing the happy dance this week?

942
00:52:14,200 --> 00:52:17,200
Speaker 1: Is he? Thanks for joining us. Tune in again next

943
00:52:17,239 --> 00:52:19,680
Speaker 1: week for the latest on the stories moving big money

944
00:52:19,680 --> 00:52:22,120
Speaker 1: in the world of sports. You're listening to Bloomberg Business

945
00:52:22,160 --> 00:52:25,240
Speaker 1: with Sports right here Bloomberg Radio round the world.