1 00:00:00,880 --> 00:00:05,040 Speaker 1: You're listening to Bloomberg Business of Sports from Bloomberg Radio. 2 00:00:05,680 --> 00:00:08,080 Speaker 1: Hi everyone, I'm Jason Kelly, and I'm Mike Lynch and 3 00:00:08,119 --> 00:00:10,760 Speaker 1: I'm Michael Barr And this is the Bloomberg Business of 4 00:00:10,800 --> 00:00:13,800 Speaker 1: Sports podcast, where we explore the big money issues in 5 00:00:13,840 --> 00:00:16,200 Speaker 1: the world of sports. Well, guys, you know, we love 6 00:00:16,280 --> 00:00:20,439 Speaker 1: the world of fitness. I'm a little bit obsessed with it. Fitness, recovery, 7 00:00:20,520 --> 00:00:24,640 Speaker 1: it's all coming together under the banner of wellness and 8 00:00:24,720 --> 00:00:27,960 Speaker 1: just healthiness overall. No one at the center of that 9 00:00:28,000 --> 00:00:30,920 Speaker 1: more than Benjamin Nazarian. He's the sea of fair Body. 10 00:00:31,160 --> 00:00:33,479 Speaker 1: And if you don't know fair body, they have natural 11 00:00:33,520 --> 00:00:36,720 Speaker 1: recovery and wellness products. The thorough a gun is probably 12 00:00:37,120 --> 00:00:39,400 Speaker 1: the product you may be the most familiar with. And 13 00:00:39,440 --> 00:00:42,080 Speaker 1: I was telling Ben before we got started, I've got 14 00:00:42,120 --> 00:00:45,640 Speaker 1: one in my house. A couple of my growing athletes 15 00:00:45,680 --> 00:00:47,920 Speaker 1: are obsessed with it. So Ben, it's really nice to 16 00:00:47,920 --> 00:00:49,840 Speaker 1: have you with us. Thanks so much for spending some time. 17 00:00:50,000 --> 00:00:52,880 Speaker 1: Good morning, happy to be here. All right. So take 18 00:00:52,960 --> 00:00:55,400 Speaker 1: us back a little bit, because I was reading up 19 00:00:55,440 --> 00:00:59,680 Speaker 1: on you a bit, and you are not necessarily of 20 00:00:59,720 --> 00:01:02,920 Speaker 1: the fitness world as it were, or of the recovery world, 21 00:01:03,040 --> 00:01:06,680 Speaker 1: or even the medical world. You're an investor by training. Uh, 22 00:01:06,840 --> 00:01:10,720 Speaker 1: tell us about sort of the business sort of meat 23 00:01:10,800 --> 00:01:14,840 Speaker 1: cute that happens here with your uh your co founder 24 00:01:14,880 --> 00:01:18,480 Speaker 1: of this company, because it's a fascinating tale. Yeah, it 25 00:01:18,600 --> 00:01:23,039 Speaker 1: was not intentional at all. Uh met Dr Jason back 26 00:01:23,080 --> 00:01:28,920 Speaker 1: in late and Uh, I love investing in startups. I 27 00:01:29,000 --> 00:01:33,400 Speaker 1: love helping entrepreneurs build businesses. I think there's something magical 28 00:01:33,400 --> 00:01:36,880 Speaker 1: that happens when you can go from nothing to build 29 00:01:36,920 --> 00:01:41,520 Speaker 1: something special. And met Dr Jason and he had shown 30 00:01:41,560 --> 00:01:47,240 Speaker 1: me a very strange loud We can now joke about it. 31 00:01:47,240 --> 00:01:49,520 Speaker 1: It's I think he knew at the time it wasn't 32 00:01:49,680 --> 00:01:53,520 Speaker 1: exactly the right product, but it just worked. And I've 33 00:01:53,560 --> 00:01:56,720 Speaker 1: had back problems my whole life, and so I'm very 34 00:01:56,720 --> 00:02:01,280 Speaker 1: familiar with different modalities that helps deal with muscle pain. 35 00:02:01,640 --> 00:02:05,200 Speaker 1: And when he tried it on me, I really just 36 00:02:05,280 --> 00:02:07,560 Speaker 1: fell in love with and realized this is something special. 37 00:02:08,120 --> 00:02:10,640 Speaker 1: But never thinking that this is going to be a 38 00:02:10,639 --> 00:02:13,400 Speaker 1: whole category and it to be a mass consumer product. 39 00:02:13,919 --> 00:02:16,200 Speaker 1: And you fast forward to today, We've created a category 40 00:02:16,240 --> 00:02:20,560 Speaker 1: and where the leading brand and the premium brand, and uh, 41 00:02:20,600 --> 00:02:23,080 Speaker 1: it's kind of cool that people even refer to our 42 00:02:23,080 --> 00:02:26,880 Speaker 1: competitors to stair a gun. So I went from being 43 00:02:26,919 --> 00:02:30,280 Speaker 1: an investor to helping Jason won the company and building 44 00:02:30,280 --> 00:02:34,640 Speaker 1: it and became a full time CEO. Back in so Ben, 45 00:02:34,680 --> 00:02:38,440 Speaker 1: I said to myself self, I have a back that 46 00:02:38,520 --> 00:02:41,160 Speaker 1: I said when I was a little kid. Looks like 47 00:02:41,280 --> 00:02:45,600 Speaker 1: the letter seven. It really does. It's a bad back. 48 00:02:45,960 --> 00:02:49,640 Speaker 1: And you said you had a bad back as well. Uh. 49 00:02:49,760 --> 00:02:55,840 Speaker 1: And the fair a gun, which is the percussive massage therapy, 50 00:02:56,400 --> 00:02:59,359 Speaker 1: what does that do? I mean, yes, any massage will 51 00:02:59,400 --> 00:03:04,080 Speaker 1: help you back, but what does that do specifically to 52 00:03:04,200 --> 00:03:08,560 Speaker 1: help you ease the paint? Well, in layman's terms, the 53 00:03:08,600 --> 00:03:10,600 Speaker 1: way I like to explain it to my friends is 54 00:03:11,639 --> 00:03:17,960 Speaker 1: I imagine getting deep tissue massage or even deep muscle therapy, 55 00:03:18,000 --> 00:03:19,600 Speaker 1: which is what I had to get when I'd have 56 00:03:19,639 --> 00:03:23,600 Speaker 1: a back problem. And the therapist is sticking their elbow 57 00:03:23,639 --> 00:03:25,840 Speaker 1: in your back to try to break down the fascia 58 00:03:25,919 --> 00:03:28,360 Speaker 1: and loosen up the muscle, and that is a very 59 00:03:28,400 --> 00:03:32,519 Speaker 1: painful process. Well, the theragin is hitting your body times 60 00:03:32,760 --> 00:03:38,120 Speaker 1: a second ah, and your body actually it hits you 61 00:03:38,160 --> 00:03:41,600 Speaker 1: so fast you don't realize that this device is touching you. 62 00:03:41,680 --> 00:03:44,960 Speaker 1: So your body actually relaxes and then allows our amplitude. 63 00:03:45,440 --> 00:03:48,480 Speaker 1: And people say, what's amplitude. It's the distance that the 64 00:03:48,520 --> 00:03:51,960 Speaker 1: attachment travels from the device and it hits your body. 65 00:03:52,080 --> 00:03:54,520 Speaker 1: So the deeper, the longer that goes, the deeper goes 66 00:03:54,520 --> 00:03:59,000 Speaker 1: into your muscle. So it's really mechanical, mechanical making it 67 00:03:59,000 --> 00:04:03,360 Speaker 1: a mechanical struct sure to a deep tissue massage, and 68 00:04:03,440 --> 00:04:08,040 Speaker 1: that depth is really helping relax and loosen up to muscles. Uh. 69 00:04:08,040 --> 00:04:10,320 Speaker 1: And that's what helped me. Hey, Benn, it's Mike Lynch 70 00:04:10,400 --> 00:04:13,120 Speaker 1: up in Boston. Love your product. I a couple of 71 00:04:13,120 --> 00:04:16,240 Speaker 1: sons in laws who you know, never at home without 72 00:04:16,279 --> 00:04:18,880 Speaker 1: it while they're watching a game. Um, how do we 73 00:04:18,920 --> 00:04:22,320 Speaker 1: get here with recovery? Preparation and workout used to be 74 00:04:22,320 --> 00:04:25,160 Speaker 1: the big thing decades ago, and now recovery seems to 75 00:04:25,240 --> 00:04:28,120 Speaker 1: be the operative word. Uh, how do we get here 76 00:04:28,160 --> 00:04:31,159 Speaker 1: so swiftly? Yeah? You know it is the I would 77 00:04:31,160 --> 00:04:34,960 Speaker 1: say the next pillar of working out fitness and performance. 78 00:04:35,320 --> 00:04:37,400 Speaker 1: Uh you know, I started with how do you work 79 00:04:37,440 --> 00:04:42,560 Speaker 1: out harder better? Uh? And then it went to nutrition. Uh. 80 00:04:42,600 --> 00:04:45,240 Speaker 1: You know, if you worked out in your personal trainer 81 00:04:45,320 --> 00:04:48,600 Speaker 1: or the gym, did not know about nutrition? Give you 82 00:04:49,040 --> 00:04:52,200 Speaker 1: good food, good smoothies, then you felt like they were 83 00:04:52,240 --> 00:04:55,400 Speaker 1: not really uh an expert in the space. And the 84 00:04:55,400 --> 00:04:59,719 Speaker 1: recovery is now just as important as those two pillars. Um. 85 00:04:59,760 --> 00:05:03,240 Speaker 1: You know, when we go work out, we're putting stress 86 00:05:03,240 --> 00:05:08,200 Speaker 1: on our body, and the muscle recovers and actually builds 87 00:05:08,760 --> 00:05:11,080 Speaker 1: when you recover, not when you work out. And so 88 00:05:11,120 --> 00:05:15,400 Speaker 1: if you're not recovering the right way, you're potentially damaging 89 00:05:15,440 --> 00:05:19,640 Speaker 1: your body or not allowing it to maximize the benefits 90 00:05:19,680 --> 00:05:25,080 Speaker 1: of that workout. And I think Tom Brady, being who 91 00:05:25,120 --> 00:05:29,680 Speaker 1: he is and playing at an unbelievable age, has really 92 00:05:29,720 --> 00:05:32,800 Speaker 1: talked about recovery being one of his secrets, and that 93 00:05:32,880 --> 00:05:35,800 Speaker 1: kind of discussion has led to the mainstream understanding the 94 00:05:35,800 --> 00:05:39,560 Speaker 1: importance of recovery UH, and it's now a piller of 95 00:05:39,920 --> 00:05:45,520 Speaker 1: overall performance and fitness. And I think if a trainer 96 00:05:45,600 --> 00:05:48,880 Speaker 1: a gym is not talking about recovery or offering recovery, 97 00:05:49,080 --> 00:05:51,440 Speaker 1: then they're really not going to be an expert in 98 00:05:51,440 --> 00:05:55,080 Speaker 1: the space much longer. So you lead right where I 99 00:05:55,120 --> 00:05:58,160 Speaker 1: wanted to go, Ben, which is this notion that part 100 00:05:58,200 --> 00:06:02,039 Speaker 1: of the reason we're talking about this is because very 101 00:06:02,080 --> 00:06:06,880 Speaker 1: notable athletes like Tom Brady and more recently, and this 102 00:06:06,920 --> 00:06:10,160 Speaker 1: brings us to some recent news with you guys. Uh, 103 00:06:10,760 --> 00:06:16,080 Speaker 1: no less than Cristiano Ronaldo have endorsed, embraced and talked 104 00:06:16,120 --> 00:06:20,320 Speaker 1: about your product specifically. It was interesting sort of again 105 00:06:20,360 --> 00:06:23,919 Speaker 1: reading up on you guys and understanding, you know, the 106 00:06:23,920 --> 00:06:28,400 Speaker 1: the initial enthusiasm in the chiropractic world, in the PT world, 107 00:06:28,800 --> 00:06:33,279 Speaker 1: but really getting big name athletes on board has propelled 108 00:06:33,320 --> 00:06:37,080 Speaker 1: it into the mainstream. Help us understand that strategy. Yeah, 109 00:06:37,080 --> 00:06:42,960 Speaker 1: absolutely so. Dr Jake met Ronaldo back in and uh, 110 00:06:43,000 --> 00:06:46,679 Speaker 1: you know, Christiano really didn't know about percussis therapy and 111 00:06:46,760 --> 00:06:49,479 Speaker 1: how it can help him in his recovery routine. I 112 00:06:49,480 --> 00:06:52,839 Speaker 1: think the thing that so amaze me about Christiano Ronaldo 113 00:06:53,040 --> 00:06:56,040 Speaker 1: is how much he takes care of his body, how 114 00:06:56,120 --> 00:06:58,360 Speaker 1: much he invested in his body. And I don't mean 115 00:06:58,440 --> 00:07:01,599 Speaker 1: investing from a monetary standpoint. Uh, it's really from a 116 00:07:01,640 --> 00:07:05,440 Speaker 1: time standpoint and discipline standpoint and understanding what he has 117 00:07:05,480 --> 00:07:07,560 Speaker 1: to do to take care of his body and as 118 00:07:07,560 --> 00:07:10,120 Speaker 1: you get older, you have to actually invest more in it, 119 00:07:10,200 --> 00:07:13,800 Speaker 1: not less. Uh. And when he learned about percusso therapy 120 00:07:13,800 --> 00:07:18,280 Speaker 1: from Dr Jason back in, he immediately understood the benefit 121 00:07:18,400 --> 00:07:22,280 Speaker 1: and adopted that into his practice since his old wall routine, 122 00:07:22,680 --> 00:07:26,960 Speaker 1: and he's been an avid user since. And I think 123 00:07:26,960 --> 00:07:31,080 Speaker 1: when consumers see pro athletes using it, it gives them 124 00:07:31,320 --> 00:07:33,720 Speaker 1: the credibility that they need to understand. This is not 125 00:07:33,760 --> 00:07:37,600 Speaker 1: a gimmicky thing, um. And what we've had to do 126 00:07:37,880 --> 00:07:42,720 Speaker 1: is make sure it's relatable to the everyday consumer, because 127 00:07:43,560 --> 00:07:45,600 Speaker 1: it's easy to say, well, I'm not Ronaldo, I'm not 128 00:07:45,640 --> 00:07:47,640 Speaker 1: working out as much as he does, I'm not performing 129 00:07:47,680 --> 00:07:49,640 Speaker 1: as much as he does, so why do I need this? 130 00:07:50,040 --> 00:07:53,120 Speaker 1: But it's actolutely exact opposite. It's more that if it 131 00:07:53,200 --> 00:07:54,880 Speaker 1: works for him, then it works for me as well. 132 00:07:54,920 --> 00:07:57,720 Speaker 1: And as you said, your son too, he's a he's 133 00:07:57,840 --> 00:08:00,760 Speaker 1: an athlete. It benefits him just like aff as Ronaldo. 134 00:08:01,280 --> 00:08:03,720 Speaker 1: So if I can follow on that, I mean I 135 00:08:03,800 --> 00:08:06,160 Speaker 1: would love to understand. I think our listeners would too, 136 00:08:06,320 --> 00:08:09,600 Speaker 1: sort of the process, by which means that that's an interesting, 137 00:08:09,720 --> 00:08:12,080 Speaker 1: sort of one off story on Ronaldo. But I mean, 138 00:08:12,120 --> 00:08:15,400 Speaker 1: you guys have a roster of people who who have 139 00:08:15,560 --> 00:08:18,640 Speaker 1: endorsed this, Like what's the process and the sort of 140 00:08:18,680 --> 00:08:22,080 Speaker 1: give and take of, you know, kind of building this 141 00:08:22,080 --> 00:08:26,400 Speaker 1: this network of athletes. I guess yeah, you know we're very, 142 00:08:26,480 --> 00:08:29,840 Speaker 1: very fortunate we brought this to the sports industry back 143 00:08:29,880 --> 00:08:34,960 Speaker 1: in ten. We had our fifteen minutes the same when 144 00:08:35,080 --> 00:08:38,240 Speaker 1: Kyrie Irving used it during Game five of the Championship 145 00:08:38,440 --> 00:08:43,200 Speaker 1: in Seen and I think a lot of people forget 146 00:08:43,240 --> 00:08:45,520 Speaker 1: that he used it because his back tightened up, so 147 00:08:45,679 --> 00:08:47,960 Speaker 1: it was not a performance or even a recovery story. 148 00:08:48,000 --> 00:08:51,280 Speaker 1: It was a pain story, and of all of the 149 00:08:51,400 --> 00:08:55,680 Speaker 1: tools available to him UH, he asked his trainer to 150 00:08:55,840 --> 00:08:57,640 Speaker 1: use a theragon on his back and it was caught 151 00:08:57,679 --> 00:09:02,480 Speaker 1: on TV. And from there, every athlete started understanding the 152 00:09:02,520 --> 00:09:05,160 Speaker 1: benefits of it and started using it as part of 153 00:09:05,200 --> 00:09:11,040 Speaker 1: their overall self care um our strategy. With respect to 154 00:09:11,840 --> 00:09:15,280 Speaker 1: working with athletes, UH is really working with the athletes 155 00:09:15,320 --> 00:09:18,600 Speaker 1: who are not only users of the product, because there 156 00:09:18,640 --> 00:09:20,520 Speaker 1: are hundreds of them that we work with over two 157 00:09:21,000 --> 00:09:25,240 Speaker 1: fifty teams globally, but it's really who are the athletes 158 00:09:25,280 --> 00:09:30,960 Speaker 1: to really understand their body recovery, fitness and who wants 159 00:09:31,000 --> 00:09:33,720 Speaker 1: to help us tell the story to the everyday consumer 160 00:09:34,120 --> 00:09:37,760 Speaker 1: about how this can help the consumer, not the pro athley, 161 00:09:37,840 --> 00:09:40,199 Speaker 1: but how does it help the consumer. And so it's 162 00:09:40,240 --> 00:09:43,360 Speaker 1: really a partnership of education that we enter into with 163 00:09:43,400 --> 00:09:47,400 Speaker 1: these athletes. CBD is in your company's portfolio. It has 164 00:09:47,440 --> 00:09:50,800 Speaker 1: it gotten to the point now one where more people 165 00:09:50,880 --> 00:09:56,400 Speaker 1: are accepting CBD products uh, and to it's how is 166 00:09:56,440 --> 00:09:59,400 Speaker 1: it working for you now? Yeah, we have a lot 167 00:09:59,480 --> 00:10:05,079 Speaker 1: of app to love CBD. They understand the benefits of it. UH. 168 00:10:05,160 --> 00:10:07,200 Speaker 1: They have to be very careful because the leagues have 169 00:10:07,800 --> 00:10:10,320 Speaker 1: various rules and it's still evolving, and so they're not 170 00:10:10,360 --> 00:10:14,640 Speaker 1: even sure if they can be using CBD or whether 171 00:10:14,679 --> 00:10:19,199 Speaker 1: it violates the league's policies. UH. But they find it 172 00:10:19,240 --> 00:10:21,840 Speaker 1: to be effective and in fact, that's how we got 173 00:10:21,880 --> 00:10:25,200 Speaker 1: into the business. They reached out to us asking us 174 00:10:25,240 --> 00:10:27,559 Speaker 1: how do they use it? With there a gun? Uh? 175 00:10:27,559 --> 00:10:30,360 Speaker 1: And then when they started vouching for its efficacy but 176 00:10:30,520 --> 00:10:34,079 Speaker 1: not knowing which brand they could trust, we realize there's 177 00:10:34,080 --> 00:10:36,680 Speaker 1: an opportunity there because there's a great synergy between a 178 00:10:36,720 --> 00:10:40,839 Speaker 1: thorough gun and our CBB line Sarah one and as 179 00:10:40,960 --> 00:10:43,960 Speaker 1: Dr Jason started kind of evaluating the industry and what 180 00:10:44,040 --> 00:10:48,240 Speaker 1: products would he give to his UH patients and his 181 00:10:48,800 --> 00:10:53,000 Speaker 1: professional athletes, we realize that there's not a premium, high 182 00:10:53,080 --> 00:10:55,880 Speaker 1: quality products out there, and so we developed our own 183 00:10:56,520 --> 00:11:01,760 Speaker 1: USC certified organic line, which once you use it, you 184 00:11:01,760 --> 00:11:04,280 Speaker 1: you love it, and you understand the benefits of it. 185 00:11:05,040 --> 00:11:07,480 Speaker 1: But I think there's still a lot of education that 186 00:11:07,559 --> 00:11:11,280 Speaker 1: has to happen to the for the regular everyday consumer 187 00:11:12,280 --> 00:11:16,360 Speaker 1: because there is still some stigma attached to CDD. So, Benjamin, 188 00:11:16,920 --> 00:11:20,839 Speaker 1: all percussive guns are not created equally. Yours is the best, obviously, 189 00:11:20,920 --> 00:11:24,040 Speaker 1: and there's all CBD lotions and a ointments are not 190 00:11:24,080 --> 00:11:28,080 Speaker 1: created equally. I'm constantly confused when I'm looking at the 191 00:11:28,080 --> 00:11:29,960 Speaker 1: shelf and I'm looking at the ingredients, I don't know 192 00:11:29,960 --> 00:11:31,559 Speaker 1: what the heck I'm looking at. What should I look 193 00:11:31,600 --> 00:11:34,240 Speaker 1: for in the ingredients of cb D that I can 194 00:11:34,280 --> 00:11:37,040 Speaker 1: feel confident that's going to help my pain when I'm 195 00:11:37,080 --> 00:11:39,840 Speaker 1: rubbing it on my hip or my knee or my elbow. 196 00:11:40,120 --> 00:11:42,560 Speaker 1: You know, like anything, you get what you pay for, 197 00:11:42,679 --> 00:11:45,960 Speaker 1: and you wanna buy it from a producer that is 198 00:11:46,000 --> 00:11:49,760 Speaker 1: making quality products. What we found is uh and this 199 00:11:49,800 --> 00:11:52,160 Speaker 1: is actually an FDA has sent let us to over 200 00:11:52,200 --> 00:11:55,440 Speaker 1: twenty companies talking about how the product did not have 201 00:11:55,520 --> 00:11:58,200 Speaker 1: CBD in some jars, that have too much in another 202 00:11:58,240 --> 00:12:01,720 Speaker 1: one because it just wasn't manufactured right. And so I 203 00:12:01,760 --> 00:12:06,240 Speaker 1: think relying on a on a brand new trust is 204 00:12:06,320 --> 00:12:10,640 Speaker 1: critical and looking at what are the ingredients. Being organic 205 00:12:10,800 --> 00:12:13,640 Speaker 1: is very important with CBD because it's absorbing into your 206 00:12:14,040 --> 00:12:18,400 Speaker 1: body and into your muscles, and therefore you want to 207 00:12:18,400 --> 00:12:23,160 Speaker 1: make sure you're putting high quality ingredients um on your body. Uh. 208 00:12:23,160 --> 00:12:27,200 Speaker 1: And we are USC certified organic. As I mentioned, we 209 00:12:27,320 --> 00:12:30,920 Speaker 1: test our products four times. We provide that transparency on 210 00:12:30,960 --> 00:12:33,560 Speaker 1: our website so people don't just have to take a 211 00:12:33,600 --> 00:12:35,839 Speaker 1: word for it, they can actually check it and making 212 00:12:35,840 --> 00:12:38,439 Speaker 1: sure that we pass every single test and we're compliant 213 00:12:38,440 --> 00:12:42,960 Speaker 1: with the farm bill and where there are no toxins 214 00:12:42,960 --> 00:12:45,520 Speaker 1: in our product. So I think it's that quality and 215 00:12:45,559 --> 00:12:49,480 Speaker 1: that rigor that you want, regardless of of the brand 216 00:12:49,640 --> 00:12:52,800 Speaker 1: or product that you're buying. Alright, so Ben, put your 217 00:12:52,840 --> 00:12:56,719 Speaker 1: investor hat back on here and help us understand from 218 00:12:56,760 --> 00:13:00,440 Speaker 1: an investment perspective, from a market perspective, way, hear, does 219 00:13:00,520 --> 00:13:03,800 Speaker 1: this fast growing but still pretty young market go in 220 00:13:03,920 --> 00:13:07,920 Speaker 1: terms of consolidation, in terms of expansion? Like what's the 221 00:13:08,080 --> 00:13:12,000 Speaker 1: roadmap as you talked to your existing investors, as you 222 00:13:12,040 --> 00:13:15,240 Speaker 1: look down the road for for more capital or for 223 00:13:15,320 --> 00:13:18,920 Speaker 1: the capital markets, like, help us understand that. Yeah, I 224 00:13:18,960 --> 00:13:24,400 Speaker 1: think we're really just the beginning of the mass consumer 225 00:13:24,559 --> 00:13:30,880 Speaker 1: understanding the benefits of um, what procustotherapy can do for them. 226 00:13:30,960 --> 00:13:34,600 Speaker 1: And I'm now speaking just about their agun obviously. Uh. 227 00:13:34,800 --> 00:13:37,120 Speaker 1: You know, I love when I hear stories about people saying, 228 00:13:37,320 --> 00:13:40,720 Speaker 1: I bought this from my dad, uh for Father's Day 229 00:13:40,960 --> 00:13:44,760 Speaker 1: and he is, you know, fifties, sixty seven years old, 230 00:13:44,800 --> 00:13:48,480 Speaker 1: and uh, this is this is now really benefiting him. 231 00:13:48,600 --> 00:13:52,480 Speaker 1: This product really helps everybody, And so I think we're 232 00:13:52,520 --> 00:13:57,160 Speaker 1: just very early in that process of people understanding how 233 00:13:57,240 --> 00:13:59,800 Speaker 1: can help them. Uh. As you mentioned, not all products 234 00:13:59,840 --> 00:14:03,960 Speaker 1: or equal, and there is a big difference between our 235 00:14:04,040 --> 00:14:08,440 Speaker 1: product and its efficacy and effectiveness versus all the Amazon 236 00:14:08,480 --> 00:14:10,840 Speaker 1: knockoffs out there. But as I said, you get what 237 00:14:10,880 --> 00:14:13,880 Speaker 1: you pay for. But I think beyond that, there are 238 00:14:13,880 --> 00:14:17,840 Speaker 1: a lot of other technologies that are available to help 239 00:14:17,880 --> 00:14:21,080 Speaker 1: again all of us, not just a pro athlete with 240 00:14:21,120 --> 00:14:24,240 Speaker 1: respect over health and wellness. And whether it's Sarah One 241 00:14:24,280 --> 00:14:28,320 Speaker 1: our CBD line, or we just launched Recovery Air, our 242 00:14:28,360 --> 00:14:32,240 Speaker 1: pneumatic compression boots that just feel amazing and really helped 243 00:14:33,320 --> 00:14:37,440 Speaker 1: bring lights back to life, whether it's after cycling or running. Uh. 244 00:14:37,480 --> 00:14:39,800 Speaker 1: And these are things that are going to become more 245 00:14:39,840 --> 00:14:42,800 Speaker 1: mainstream over the next few years. This one I and 246 00:14:42,880 --> 00:14:45,160 Speaker 1: I've never understood it in sports, And it goes back 247 00:14:45,160 --> 00:14:48,360 Speaker 1: to what you were talking about about the CBD that 248 00:14:48,520 --> 00:14:53,840 Speaker 1: a lot of sports do not allow that because it 249 00:14:53,880 --> 00:14:57,200 Speaker 1: breaks the rules for the sport. But if you're a 250 00:14:57,240 --> 00:15:00,960 Speaker 1: football player, especially back in the day, they were pain 251 00:15:01,040 --> 00:15:03,360 Speaker 1: killers that were just sitting out there in a bowl 252 00:15:03,440 --> 00:15:05,840 Speaker 1: that people would pick up and and then go out 253 00:15:05,880 --> 00:15:09,240 Speaker 1: there on the field that where it could be rather dangerous. 254 00:15:09,240 --> 00:15:13,160 Speaker 1: So why is it that it has not been accepted 255 00:15:13,520 --> 00:15:18,320 Speaker 1: in the sports CBD where pain killers could be rather dangerous. Well, 256 00:15:18,360 --> 00:15:21,000 Speaker 1: I couldn't agree with you more. Uh. You know, athletes 257 00:15:21,040 --> 00:15:23,880 Speaker 1: are allowed to use pain killers, which is a lot 258 00:15:23,920 --> 00:15:27,560 Speaker 1: of chemicals not great for the body, but they need 259 00:15:27,560 --> 00:15:30,880 Speaker 1: it because they're putting their bodies under such dress. Uh. 260 00:15:31,120 --> 00:15:35,360 Speaker 1: Yet CBDU is a natural product. It comes from plants, 261 00:15:35,520 --> 00:15:38,880 Speaker 1: and it really doesn't have a side effect or the 262 00:15:38,920 --> 00:15:44,280 Speaker 1: negative impact that a chemical based product has. Uh. In fact, 263 00:15:44,360 --> 00:15:46,280 Speaker 1: if you kind of compare the side effect of ad 264 00:15:46,280 --> 00:15:48,680 Speaker 1: GO versus CBD, you'll see ADO has a lot more 265 00:15:48,720 --> 00:15:53,480 Speaker 1: side effects, and yet those widely accepted. Uh. So I 266 00:15:53,520 --> 00:15:57,320 Speaker 1: think it's changing. Athletes are demanding change. Uh. And maybe 267 00:15:57,360 --> 00:16:00,520 Speaker 1: it's because CBD has luked into the category of cannabis 268 00:16:00,520 --> 00:16:03,120 Speaker 1: and has a negative stigma even though it is a 269 00:16:03,200 --> 00:16:06,200 Speaker 1: very different product. So we believe it's part of our 270 00:16:06,320 --> 00:16:10,840 Speaker 1: job to help clear up that misinformation and educate the 271 00:16:10,920 --> 00:16:14,920 Speaker 1: leagues and consumers as to why it's not dangerous, why 272 00:16:14,960 --> 00:16:18,400 Speaker 1: it's actually more beneficial for the athlete and the everyday 273 00:16:18,440 --> 00:16:24,640 Speaker 1: consumer compared to chemical based pain killers. Ben Your association 274 00:16:24,680 --> 00:16:27,600 Speaker 1: with with Ronaldo obviously means that you must be expanding 275 00:16:27,600 --> 00:16:30,840 Speaker 1: your advertising globally. Have you always been restricted just s 276 00:16:30,880 --> 00:16:33,440 Speaker 1: been United States? And there's just go hand in hand 277 00:16:33,520 --> 00:16:37,280 Speaker 1: with the signing of Ronaldo. Absolutely so. We had been 278 00:16:38,080 --> 00:16:44,200 Speaker 1: really focusing our sponsorships and our partnerships in the US 279 00:16:44,600 --> 00:16:48,440 Speaker 1: until this year. We've really been expanding our global presence 280 00:16:48,480 --> 00:16:51,040 Speaker 1: this year. It's been a big part of our strategy 281 00:16:51,240 --> 00:16:56,960 Speaker 1: and our growth initiative. And Ronaldo being really a global icon. 282 00:16:57,520 --> 00:17:00,560 Speaker 1: I think he probably even has a bigger brand awareness 283 00:17:00,560 --> 00:17:03,840 Speaker 1: and presence internationally that he does in the US, really 284 00:17:03,960 --> 00:17:06,800 Speaker 1: was the perfect partner for us to help tell the 285 00:17:06,840 --> 00:17:10,919 Speaker 1: world our story. But in in addition to that, we 286 00:17:11,040 --> 00:17:15,600 Speaker 1: have been partnering with top football clubs in Europe, the 287 00:17:15,640 --> 00:17:21,040 Speaker 1: top rugby leagues, in Australia again to tell the story 288 00:17:21,040 --> 00:17:23,880 Speaker 1: and bring brand awareness to recovery to the everyday consumer. 289 00:17:24,359 --> 00:17:26,240 Speaker 1: You know, Ben, as we wrap up here, you know, 290 00:17:26,400 --> 00:17:27,840 Speaker 1: one of the things I did want to make sure 291 00:17:27,880 --> 00:17:29,919 Speaker 1: we talked about is really, you know, sort of the 292 00:17:29,920 --> 00:17:33,160 Speaker 1: next step from from an investor perspective and and from 293 00:17:33,960 --> 00:17:37,200 Speaker 1: money and and uh fundraising and all that good stuff. 294 00:17:37,200 --> 00:17:39,639 Speaker 1: I mean, you look at the roster of investors, and 295 00:17:39,800 --> 00:17:42,679 Speaker 1: you know, we're fascinated on this show and across our 296 00:17:42,720 --> 00:17:45,520 Speaker 1: network with you know, these sort of athlete investors k 297 00:17:45,680 --> 00:17:48,639 Speaker 1: d uh and thirty five Ventures. I believe as an 298 00:17:48,640 --> 00:17:51,359 Speaker 1: investor with you guys, and obviously sort of iconic in 299 00:17:51,400 --> 00:17:54,480 Speaker 1: that role of that nexus of sports and investment in 300 00:17:54,560 --> 00:17:56,800 Speaker 1: his work. And Rich Kleiman, who's has been a guest 301 00:17:56,840 --> 00:18:00,560 Speaker 1: on this show. You look at Kevin Hart obviously on 302 00:18:00,600 --> 00:18:04,280 Speaker 1: the entertainment side, but also he's a workout obsessive and 303 00:18:04,560 --> 00:18:07,840 Speaker 1: clearly recovery obsessive. So what happens next? I mean, do 304 00:18:07,880 --> 00:18:11,360 Speaker 1: you continue to attract those sorts of investors? Is this 305 00:18:11,640 --> 00:18:14,159 Speaker 1: an I p O down the line? Like you're an 306 00:18:14,160 --> 00:18:16,680 Speaker 1: investor after all, So how do you look at this one? Yeah, 307 00:18:16,720 --> 00:18:19,000 Speaker 1: we were very fortunate that the Kevin Harts of the world, 308 00:18:19,040 --> 00:18:22,280 Speaker 1: who remember when he ran his first marathon, he's using 309 00:18:22,280 --> 00:18:26,119 Speaker 1: a the gun to help him with his training, wanted 310 00:18:26,160 --> 00:18:28,080 Speaker 1: to be a part of our company. And again there 311 00:18:28,160 --> 00:18:32,359 Speaker 1: was another great validation of their support. UH. And it 312 00:18:32,440 --> 00:18:35,760 Speaker 1: really was a very wide array of athletes and celebrities, 313 00:18:36,119 --> 00:18:39,440 Speaker 1: and that validation and again bringing brand awareness to us 314 00:18:39,480 --> 00:18:42,399 Speaker 1: and the category was very helpful. UH. You know, I 315 00:18:42,400 --> 00:18:45,080 Speaker 1: think there's a lot of options available, and as we 316 00:18:45,119 --> 00:18:48,320 Speaker 1: look down the road, we're always looking at what's best 317 00:18:48,480 --> 00:18:50,879 Speaker 1: for the company. How do we make sure we have 318 00:18:50,920 --> 00:18:55,920 Speaker 1: the resources to uh grow the company and helped develop 319 00:18:56,119 --> 00:18:59,480 Speaker 1: and bring the best products to our consumers. UH. And 320 00:19:00,640 --> 00:19:04,000 Speaker 1: the we're fortunate we've been going rapidly and we are profitable, 321 00:19:04,400 --> 00:19:07,880 Speaker 1: so we're not in a position of meeting capital. But 322 00:19:08,040 --> 00:19:12,600 Speaker 1: if the opportunity arises to be able to do something bigger, UM, 323 00:19:13,480 --> 00:19:16,800 Speaker 1: then and that allows us to achieve those goals and 324 00:19:16,920 --> 00:19:19,439 Speaker 1: we'll obviously consider that. All right. Well, it's been a 325 00:19:19,440 --> 00:19:21,920 Speaker 1: pleasure catching up with you. We're eager to hear what 326 00:19:22,200 --> 00:19:26,920 Speaker 1: happens next. As both consumers and watchers of this space, 327 00:19:27,000 --> 00:19:30,760 Speaker 1: it's been fascinating to get an inside look. Benjamin Nazarian. 328 00:19:30,840 --> 00:19:34,200 Speaker 1: Ben is the chief executive officer of Farabody. You joined 329 00:19:34,320 --> 00:19:37,480 Speaker 1: us from Los Angeles. Ben, thanks a lot, Hey, thank you, 330 00:19:37,680 --> 00:19:40,520 Speaker 1: thank you, sir, appreciate it. This is the Bloomberg Business 331 00:19:40,520 --> 00:19:43,000 Speaker 1: of Sports podcast on Michael Barr on Twitter at Big 332 00:19:43,000 --> 00:19:44,919 Speaker 1: Bar Sports and I'm Mike Lynch. You can follow me 333 00:19:44,960 --> 00:19:47,800 Speaker 1: at Lynch e w CVB. And I'm Jason Kelly. Follow 334 00:19:47,880 --> 00:19:50,480 Speaker 1: me at Jason Kelly News. We're here each and every Monday, 335 00:19:50,520 --> 00:19:53,640 Speaker 1: Wednesday and Thursday via podcast, exploring the world of money 336 00:19:53,680 --> 00:19:56,160 Speaker 1: and sports. Join us again at the end of the week. 337 00:19:56,359 --> 00:19:59,760 Speaker 1: We're gonna get part of my conversation with another global icon, 338 00:20:00,119 --> 00:20:02,879 Speaker 1: talk about David Beckham must We're gonna break down the 339 00:20:02,920 --> 00:20:05,600 Speaker 1: Supreme Court's ruling on the n c double a's bid 340 00:20:06,040 --> 00:20:11,160 Speaker 1: for immunity college sports guys, it is changing. Oh yeah, 341 00:20:11,320 --> 00:20:14,200 Speaker 1: you're listening to Bloomberg Business of Sports on Bloomberg Radio 342 00:20:14,240 --> 00:20:16,800 Speaker 1: around the world and online wherever you get your podcast.