1 00:00:00,280 --> 00:00:03,760 Speaker 1: This is the business of sports. Should Major League Baseball 2 00:00:04,000 --> 00:00:06,840 Speaker 1: shorten up the season? How do we present football to 3 00:00:06,920 --> 00:00:08,920 Speaker 1: the audience of the future. I don't think that most 4 00:00:08,920 --> 00:00:12,040 Speaker 1: players understand the power that they have. Michael. The future 5 00:00:12,080 --> 00:00:15,920 Speaker 1: of IndyCar racing is looking bright. Scott Sashnik very basic 6 00:00:15,960 --> 00:00:18,959 Speaker 1: math here, more bidders means more money. Evan Nobody Williams. 7 00:00:18,960 --> 00:00:22,079 Speaker 1: The team value has essentially quadruples. And the leaders in 8 00:00:22,120 --> 00:00:25,480 Speaker 1: the sports industry. Time to bring in our guest, hal Steinbrunner, 9 00:00:25,600 --> 00:00:29,320 Speaker 1: National Hockey League Commissioner Gary Betman, Atlanta Braves president Derek Schiller, 10 00:00:29,400 --> 00:00:34,960 Speaker 1: Patriots President Jonathan Kraft. Bloomberg Business of Sports from Bloomberg Radio. Hello, 11 00:00:35,000 --> 00:00:38,000 Speaker 1: I'm Michael barn I'm Evan, Novie Williams. He's back. I'm 12 00:00:38,040 --> 00:00:41,279 Speaker 1: Scott sash Every week at this time plus Monday's, Wednesdays 13 00:00:41,280 --> 00:00:43,440 Speaker 1: and Thursdays, we explore the big money issues in the 14 00:00:43,479 --> 00:00:46,239 Speaker 1: world of sports. On this week's show, we have the 15 00:00:46,280 --> 00:00:50,440 Speaker 1: founder of Mastery Incorporated, Rudy Klein Thomas. But first, let's 16 00:00:50,440 --> 00:00:52,800 Speaker 1: look at the top stories of the week, and let's 17 00:00:52,840 --> 00:00:57,440 Speaker 1: start with Fox. The RSN sale process and another MLB 18 00:00:57,520 --> 00:01:00,920 Speaker 1: owner has jumped in to be discuss at the owners 19 00:01:00,920 --> 00:01:05,320 Speaker 1: meetings in Orlando. Busy time for baseball. But yeah, Jim 20 00:01:05,360 --> 00:01:08,200 Speaker 1: pole At the owner of the Minnesota Twins, now joining 21 00:01:08,560 --> 00:01:11,000 Speaker 1: one of the bid groups. One of the reasons MLB 22 00:01:11,120 --> 00:01:14,640 Speaker 1: stepped in was because they were afraid a private equity 23 00:01:14,640 --> 00:01:16,120 Speaker 1: group if I got ahold of all the rs n s, 24 00:01:16,120 --> 00:01:18,640 Speaker 1: would let's just say not, spend a whole lot of 25 00:01:18,640 --> 00:01:22,360 Speaker 1: cash on the networks that didn't involve big market teams. 26 00:01:22,440 --> 00:01:24,040 Speaker 1: You know that we already know the Yankees are gonna 27 00:01:24,040 --> 00:01:25,840 Speaker 1: buy back. Yes, that's separate, so it will be a 28 00:01:25,840 --> 00:01:28,360 Speaker 1: group of twenty one rs n s. You've got Tom 29 00:01:28,360 --> 00:01:31,039 Speaker 1: Gores and Platinum Equity involved with Liberty Media, owner of 30 00:01:31,040 --> 00:01:35,520 Speaker 1: the Atlanta Braves. So uh, Sinclair is there, Apollo Yes? 31 00:01:35,560 --> 00:01:39,920 Speaker 1: Maybe no, um waiting for the consolidation like this has 32 00:01:40,000 --> 00:01:44,480 Speaker 1: to come to some sort of fruition soon. So let's 33 00:01:44,560 --> 00:01:47,560 Speaker 1: let's see who winds up partnering with who. And again, 34 00:01:47,840 --> 00:01:49,600 Speaker 1: this is a risky business these days, in a world 35 00:01:49,640 --> 00:01:52,080 Speaker 1: of court cutting. It's not the old days where they 36 00:01:52,120 --> 00:01:55,400 Speaker 1: were just cash cows and the ebit it was great. Uh, 37 00:01:55,480 --> 00:01:58,120 Speaker 1: this is a risk if you are buying this bundle. 38 00:01:58,200 --> 00:02:00,760 Speaker 1: I'm feeling some deja vu here with the the Panthers 39 00:02:00,760 --> 00:02:04,000 Speaker 1: sale from last year. Obviously a different kind of transaction, 40 00:02:04,080 --> 00:02:05,680 Speaker 1: but it seems like a lot of the big names 41 00:02:05,680 --> 00:02:08,320 Speaker 1: that we heard immediately when these things came out into 42 00:02:08,360 --> 00:02:15,040 Speaker 1: the market are not the ones that that might necessarily. UM, 43 00:02:15,080 --> 00:02:18,600 Speaker 1: I'm curious if you think that is the person that's 44 00:02:18,600 --> 00:02:20,120 Speaker 1: going to get this, or the entity that's gonna get 45 00:02:20,120 --> 00:02:22,000 Speaker 1: this or group their names are out yet or do 46 00:02:22,000 --> 00:02:24,720 Speaker 1: you think we're still kind of waiting for the more 47 00:02:24,960 --> 00:02:29,600 Speaker 1: serious phase of somebody could. Obviously somebody could jump in, 48 00:02:29,760 --> 00:02:33,560 Speaker 1: but that surprise bitter, and we knew there was an extra. 49 00:02:33,639 --> 00:02:36,000 Speaker 1: I was telling people involved in the sale, you know, 50 00:02:36,040 --> 00:02:38,400 Speaker 1: there's not just two, there's a third. I'm being told 51 00:02:38,400 --> 00:02:41,760 Speaker 1: there's a third. It turned out to be Platinum Equity. UM, 52 00:02:41,919 --> 00:02:44,560 Speaker 1: and I had folks involved called me say, wow, you 53 00:02:44,639 --> 00:02:47,520 Speaker 1: were right there. There wasn't there and there they are, 54 00:02:47,760 --> 00:02:50,519 Speaker 1: so boy for somebody to jump in at this point. 55 00:02:50,600 --> 00:02:54,200 Speaker 1: That's not to say one of these entities couldn't reach 56 00:02:54,240 --> 00:02:57,720 Speaker 1: out to a different partner now a financer. Sure that 57 00:02:57,720 --> 00:03:01,400 Speaker 1: that that could happen, but the due diligence is done. 58 00:03:02,040 --> 00:03:04,200 Speaker 1: It would be hard for somebody now to just jump 59 00:03:04,240 --> 00:03:05,920 Speaker 1: in and say hey, let me let me start from 60 00:03:05,919 --> 00:03:08,000 Speaker 1: scratch and let me have some management meetings and find 61 00:03:08,000 --> 00:03:10,200 Speaker 1: out what's going on. You know, these seem to be 62 00:03:10,240 --> 00:03:13,640 Speaker 1: the most serious players. Well, who's the front runner? Who 63 00:03:13,639 --> 00:03:15,800 Speaker 1: knows who front runner? I mean you'd have to think 64 00:03:15,840 --> 00:03:18,280 Speaker 1: that in some way, shape or form, because you need 65 00:03:18,600 --> 00:03:22,760 Speaker 1: some distribution heft behind you. It's a real big risk 66 00:03:22,840 --> 00:03:24,960 Speaker 1: if you're going alone on this one. You would think 67 00:03:25,000 --> 00:03:29,080 Speaker 1: that Sinclair because of all the stations, and they could 68 00:03:29,080 --> 00:03:33,840 Speaker 1: offer that power behind it. So boy, I'm still waiting 69 00:03:33,840 --> 00:03:36,800 Speaker 1: for no matter who does it, waiting for a consolidation 70 00:03:36,840 --> 00:03:38,400 Speaker 1: to say, hey, Sinclair, why don't why don't you come 71 00:03:38,440 --> 00:03:43,160 Speaker 1: in with us too. Speaking of MLB, Hey, they're talking 72 00:03:43,160 --> 00:03:46,320 Speaker 1: about rule changes and of speed up the game. I 73 00:03:46,360 --> 00:03:48,960 Speaker 1: think it's a great idea. Yeah, no secret that that 74 00:03:48,960 --> 00:03:51,200 Speaker 1: that Rob Man for the commissioner and and Major League 75 00:03:51,240 --> 00:03:54,560 Speaker 1: Baseball want to get their game faster, maybe a little 76 00:03:54,600 --> 00:03:57,960 Speaker 1: more exciting, maybe Lauren, some some younger fans. Uh. There 77 00:03:57,960 --> 00:04:00,000 Speaker 1: are a number of rule changes here. Some of them 78 00:04:00,240 --> 00:04:02,520 Speaker 1: might actually, I mean could have could have big effects 79 00:04:02,560 --> 00:04:05,120 Speaker 1: on on the economics of baseball. The one that jumps 80 00:04:05,120 --> 00:04:07,280 Speaker 1: out to me from the list here a three batter 81 00:04:07,360 --> 00:04:11,040 Speaker 1: minimum per picture. Uh. Those who know baseball well know 82 00:04:11,160 --> 00:04:14,760 Speaker 1: over the past ten years this incredible rise of single 83 00:04:14,800 --> 00:04:17,840 Speaker 1: out left handed relievers. You know, your lefty specialists that 84 00:04:17,880 --> 00:04:21,159 Speaker 1: you call on just to get a power hitter out 85 00:04:21,720 --> 00:04:23,720 Speaker 1: on the other team, and then you know, take take 86 00:04:23,760 --> 00:04:26,640 Speaker 1: them out and put another picture in this A three 87 00:04:26,640 --> 00:04:30,400 Speaker 1: batter minimum, I think would would would dramatically change the 88 00:04:30,520 --> 00:04:33,880 Speaker 1: salary and the economics of of signing relievers. There's some 89 00:04:33,920 --> 00:04:36,960 Speaker 1: other interesting ones in here, uh, twenty second pitch clock, 90 00:04:37,000 --> 00:04:39,919 Speaker 1: which has been discussed for a while, which I know 91 00:04:40,000 --> 00:04:42,240 Speaker 1: there are players that are not all that thrilled about. 92 00:04:42,520 --> 00:04:45,760 Speaker 1: Expansion of rosters from twenty five men to twenty six men, 93 00:04:46,080 --> 00:04:49,200 Speaker 1: which obviously creates thirty more jobs major League Baseball than 94 00:04:49,240 --> 00:04:51,160 Speaker 1: the Kyler Murray rule the world that would allow to 95 00:04:51,279 --> 00:04:55,200 Speaker 1: sport amateurs to sign major league contracts. H. As a 96 00:04:55,200 --> 00:04:59,000 Speaker 1: lot of people know Kyler Murray, the Oklahoma starting quarterback 97 00:04:59,040 --> 00:05:03,160 Speaker 1: football was drafted by the Oaklands. You know, the financials 98 00:05:03,480 --> 00:05:06,720 Speaker 1: of going pro in baseball versus football, uh, might have 99 00:05:06,760 --> 00:05:09,279 Speaker 1: been a motivation for him choosing to enter the NFL draft. 100 00:05:09,800 --> 00:05:11,760 Speaker 1: So a lot of changes picking up all of Bar's 101 00:05:11,800 --> 00:05:14,680 Speaker 1: time for a story he really wants to discuss when 102 00:05:14,720 --> 00:05:16,160 Speaker 1: we see the biggest stories of the week. This is 103 00:05:16,200 --> 00:05:18,000 Speaker 1: not not the biggest story of the week. But I 104 00:05:18,080 --> 00:05:20,240 Speaker 1: knew bar would love it. Well, let me there's one 105 00:05:20,279 --> 00:05:23,040 Speaker 1: thing I want to add about the three batter minimum 106 00:05:23,040 --> 00:05:25,359 Speaker 1: for the pictures. There's a way, managers and get around that. 107 00:05:25,680 --> 00:05:28,239 Speaker 1: If you bring in the picture and is the second 108 00:05:28,240 --> 00:05:32,359 Speaker 1: out and then he completes the inning, that could still 109 00:05:32,440 --> 00:05:36,400 Speaker 1: be there. You a picture change, so, but just limit 110 00:05:36,440 --> 00:05:41,240 Speaker 1: the throws to first base. This one, I am here 111 00:05:41,240 --> 00:05:44,040 Speaker 1: we go. I saw this one. I'm like Michael Barr topic. 112 00:05:44,520 --> 00:05:46,839 Speaker 1: You know, I am a huge It comes the outrage 113 00:05:47,279 --> 00:05:50,320 Speaker 1: Earnhardt fan, I'm talking senior. Now, I'm talking you know, 114 00:05:51,080 --> 00:05:55,279 Speaker 1: NASCARUB and yeah and love love you want to make 115 00:05:55,279 --> 00:06:00,320 Speaker 1: sure even like carry I don't know anyway. Uh. The 116 00:06:00,360 --> 00:06:03,720 Speaker 1: hometown baseball team in Kannapolis, North Carolina, which is where 117 00:06:03,720 --> 00:06:08,880 Speaker 1: he was, they used to be called the Intimidators. Now 118 00:06:09,279 --> 00:06:12,479 Speaker 1: they want to replace the long time name. And I 119 00:06:12,520 --> 00:06:18,640 Speaker 1: don't quite understand why. I do help me, I get it. 120 00:06:18,760 --> 00:06:26,440 Speaker 1: Help help this. Yeah, so Intimidator. Dale Earnhardt Senior's nickname 121 00:06:27,000 --> 00:06:30,240 Speaker 1: is a trademark and the rights are owned by his wife, 122 00:06:30,400 --> 00:06:33,560 Speaker 1: Teresa um and and this baseball team has new ownership 123 00:06:33,560 --> 00:06:36,279 Speaker 1: it as a new stadium. I totally understand an ownership 124 00:06:36,320 --> 00:06:38,520 Speaker 1: group of a baseball team wanting to own the rights 125 00:06:38,520 --> 00:06:41,160 Speaker 1: to its own brand. Right anytime they want to sell 126 00:06:41,240 --> 00:06:45,760 Speaker 1: intimidator shirts, I would imagine new licensing agreements bobble heads. 127 00:06:45,800 --> 00:06:49,040 Speaker 1: All that has to be approved by Dale Earnhardt's wife, 128 00:06:49,040 --> 00:06:52,719 Speaker 1: who owns the brand itself. I totally get the idea 129 00:06:52,760 --> 00:06:55,880 Speaker 1: that hey, uh, we're kind of restarting. There's a new 130 00:06:56,000 --> 00:07:00,000 Speaker 1: uh Temerity Capital as the new owner's DC based family office. Uh. 131 00:07:00,040 --> 00:07:02,960 Speaker 1: They want to have a brand that they can license themselves, 132 00:07:03,000 --> 00:07:05,600 Speaker 1: they can own themselves, they can market themselves and intimidators 133 00:07:05,960 --> 00:07:08,080 Speaker 1: um as nice as it is as an homage to 134 00:07:08,160 --> 00:07:10,600 Speaker 1: a to a to a local legend, Just isn't that 135 00:07:12,600 --> 00:07:18,720 Speaker 1: got homage? And one quick sounded like if prepared for 136 00:07:19,000 --> 00:07:21,680 Speaker 1: a very a very quick thought. Uh. NASCAR, by the way, 137 00:07:21,720 --> 00:07:24,240 Speaker 1: they introduced a new rule. Uh. I call it the 138 00:07:24,280 --> 00:07:27,520 Speaker 1: d Q rule, which means if now, if a racing 139 00:07:27,600 --> 00:07:33,200 Speaker 1: driver fail, the car fails inspection post race inspection, they 140 00:07:33,200 --> 00:07:36,400 Speaker 1: could be d Q no more. You ain't ain't trying. Yeah, 141 00:07:36,480 --> 00:07:38,240 Speaker 1: that's coming into plane and that could play a big 142 00:07:38,360 --> 00:07:43,200 Speaker 1: role in sponsors. What was the previous rule, Well, get puble. 143 00:07:43,280 --> 00:07:45,400 Speaker 1: It's like it's it's like a time out versus all out. 144 00:07:45,400 --> 00:07:49,080 Speaker 1: You've lost TV privileges for a week. Sponsors aren't gonna 145 00:07:49,120 --> 00:07:52,960 Speaker 1: like that. So if someone is, I'm sorry, I'm upset. 146 00:07:53,400 --> 00:07:55,960 Speaker 1: Now let's get into this week's interview with Rudy Klein Thomas. 147 00:07:55,960 --> 00:07:59,400 Speaker 1: He is the founder and managing partner a master Reincorporated, 148 00:07:59,400 --> 00:08:05,120 Speaker 1: a company that specializes in identifying technology, retail media, investment 149 00:08:05,120 --> 00:08:07,920 Speaker 1: opportunities for partners, and a whole bunch of make it's 150 00:08:07,960 --> 00:08:11,400 Speaker 1: so much more difficult than he is. That liaison the 151 00:08:11,440 --> 00:08:15,720 Speaker 1: word you like to use between pro athletes and little 152 00:08:15,800 --> 00:08:19,920 Speaker 1: venture capital Silicon Valley. He hooks the two up. He's 153 00:08:19,920 --> 00:08:22,120 Speaker 1: the he's the middleman, he's the guy. Just call him 154 00:08:22,120 --> 00:08:24,080 Speaker 1: the man. You can call him the man and that end. 155 00:08:24,120 --> 00:08:27,200 Speaker 1: By the way, bar our first to hyphen show Rudy 156 00:08:27,280 --> 00:08:31,360 Speaker 1: Klein Thomas and been Nobe Williams. I've been waiting over 157 00:08:31,400 --> 00:08:34,880 Speaker 1: a year to do this show with another hyphen. It's 158 00:08:34,920 --> 00:08:37,120 Speaker 1: a line there, but anyway, it's a special one. It's 159 00:08:37,120 --> 00:08:39,120 Speaker 1: a special one. And you know Rudy by the way 160 00:08:39,160 --> 00:08:42,199 Speaker 1: he partners with Bloomberg on the VC Athlete tex Summit, 161 00:08:42,679 --> 00:08:45,800 Speaker 1: fantastic event. On the younger end. Yeah, well, Evan and 162 00:08:45,840 --> 00:08:48,440 Speaker 1: I go out every year, Jalen Brown, what every twenty 163 00:08:48,520 --> 00:08:52,000 Speaker 1: years old discussing things with Joe Montana, who I will 164 00:08:52,040 --> 00:08:55,079 Speaker 1: say is older than twenty. But share. It's it's a 165 00:08:55,120 --> 00:08:58,400 Speaker 1: it's a room where these athletes get together, they share ideas, 166 00:08:58,600 --> 00:09:01,280 Speaker 1: they make investments with each other there they make investments 167 00:09:01,320 --> 00:09:04,760 Speaker 1: in companies of people who are speaking there. Uh and really, 168 00:09:04,840 --> 00:09:07,199 Speaker 1: Rudy is a big part of getting everybody together. Anyone 169 00:09:07,240 --> 00:09:09,800 Speaker 1: who thinks that NBA athletes are just dumb jocks, should 170 00:09:09,800 --> 00:09:12,959 Speaker 1: should attend, should be in a meeting there. All right. Well, Rudy, 171 00:09:13,000 --> 00:09:14,880 Speaker 1: by the way, thank you very much for coming in studio. 172 00:09:15,000 --> 00:09:17,720 Speaker 1: You're welcome, You're welcome. Finally, yeah, finally, We've been trying 173 00:09:17,720 --> 00:09:20,120 Speaker 1: to do this for how long? For over a year. Yeah, 174 00:09:20,480 --> 00:09:22,240 Speaker 1: I must not be on the top of the list, 175 00:09:22,280 --> 00:09:24,240 Speaker 1: but I'm glad I made it. No, no, no, no, no, 176 00:09:24,280 --> 00:09:26,640 Speaker 1: that's not your We see you so Offen. People should 177 00:09:26,640 --> 00:09:29,720 Speaker 1: know you were part of the VC Athletes and Tech 178 00:09:29,760 --> 00:09:33,840 Speaker 1: conference we do in San Francisco, so you know Evan 179 00:09:33,880 --> 00:09:35,240 Speaker 1: and I have talked about it, Like we talked with 180 00:09:35,320 --> 00:09:38,480 Speaker 1: Jalen Brown from the Celtics there and how old is 181 00:09:38,520 --> 00:09:41,080 Speaker 1: he had been nineteen years old? I think they just 182 00:09:41,080 --> 00:09:47,240 Speaker 1: turned twenty one, just turned pianist, great conversations, chess player. 183 00:09:48,760 --> 00:09:51,280 Speaker 1: Things are different, Things are different these days, right. These 184 00:09:51,280 --> 00:09:52,800 Speaker 1: are the guys you hang out with a lot, these 185 00:09:52,840 --> 00:09:57,520 Speaker 1: athletes who understand that they have a lot of say 186 00:09:57,559 --> 00:10:01,640 Speaker 1: and power and contributions to off the court. Yes, correct, 187 00:10:01,720 --> 00:10:04,360 Speaker 1: it's uh, it's funny. Times are changing. I don't think 188 00:10:04,400 --> 00:10:07,160 Speaker 1: that the guys get enough credit asked to you know, 189 00:10:07,200 --> 00:10:09,480 Speaker 1: their off court interest in who they've become. But uh, 190 00:10:09,720 --> 00:10:12,920 Speaker 1: they're definitely eclectic people with varied interest and I'm just 191 00:10:12,960 --> 00:10:15,640 Speaker 1: tapping into it. Are we just talking about stereotype that 192 00:10:15,760 --> 00:10:19,000 Speaker 1: the the broke athlete. That's exactly how do we shatter 193 00:10:19,080 --> 00:10:22,320 Speaker 1: that is? I think that the broke athletes sells, Uh 194 00:10:22,720 --> 00:10:27,480 Speaker 1: it's news, right, So that propaganda is something. It's a 195 00:10:27,480 --> 00:10:29,959 Speaker 1: stigma that the athletes have gotten and hopefully we're breaking 196 00:10:29,960 --> 00:10:33,400 Speaker 1: it down. But there's there's very very few in reference 197 00:10:33,440 --> 00:10:35,319 Speaker 1: to those broke athletes versus the guys that are actually 198 00:10:35,360 --> 00:10:37,520 Speaker 1: doing well and have interests way beyond the court. Yeah, 199 00:10:37,520 --> 00:10:41,120 Speaker 1: that that documentary broke on I said right away, And 200 00:10:41,160 --> 00:10:43,120 Speaker 1: I told the folks at ESPN, those numbers don't even 201 00:10:43,120 --> 00:10:46,240 Speaker 1: make sense, not even a little bit doesn't even make sense. 202 00:10:46,640 --> 00:10:50,360 Speaker 1: What in your conversations with athletes, what do they say 203 00:10:50,400 --> 00:10:53,559 Speaker 1: about the perception of pro athletes. Well, I think it's 204 00:10:53,600 --> 00:10:57,000 Speaker 1: it's it's unfortunate. I think most of them, um, again, 205 00:10:57,040 --> 00:11:00,320 Speaker 1: the advent of broke and how popular it was before 206 00:11:00,320 --> 00:11:02,440 Speaker 1: they even enter a room. That's the stigma that most 207 00:11:02,440 --> 00:11:05,280 Speaker 1: of them are getting right. So um, a lot of 208 00:11:05,320 --> 00:11:08,199 Speaker 1: them again have varied interest, especially in reference to business 209 00:11:08,480 --> 00:11:10,840 Speaker 1: and uh, different things that they have access to doing 210 00:11:10,840 --> 00:11:13,680 Speaker 1: off the court. Um, and again just really trying to 211 00:11:13,720 --> 00:11:17,680 Speaker 1: help them break down that stigma and uh create the 212 00:11:17,679 --> 00:11:20,439 Speaker 1: propaganda where people actually understand that these guys have more 213 00:11:20,440 --> 00:11:23,319 Speaker 1: to offer than just playing their sport. Part of that stigma, 214 00:11:23,360 --> 00:11:25,600 Speaker 1: I think is that, you know, people love a story 215 00:11:25,640 --> 00:11:29,840 Speaker 1: of people losing money. Yeah, exactly the document right now. 216 00:11:32,640 --> 00:11:34,800 Speaker 1: I loved every minute of both of them. There's a part, 217 00:11:34,840 --> 00:11:37,240 Speaker 1: I think of of human nature to kind of be 218 00:11:37,280 --> 00:11:40,840 Speaker 1: attracted to stories in which people are just blowing on cash. 219 00:11:41,200 --> 00:11:43,600 Speaker 1: But part of it, I would also think, um, people 220 00:11:43,600 --> 00:11:45,959 Speaker 1: are just getting paid more. Right, Like, you're twenty year 221 00:11:46,000 --> 00:11:49,200 Speaker 1: old in the NBA now, if you're pretty good versus 222 00:11:49,200 --> 00:11:50,840 Speaker 1: what you're pretty good twenty year old was being paid 223 00:11:50,840 --> 00:11:53,400 Speaker 1: in the NBA twenty years ago, even adjusting for inflation, 224 00:11:53,400 --> 00:11:56,520 Speaker 1: you're talking about two vastly different sums of money. And 225 00:11:56,520 --> 00:11:58,640 Speaker 1: I would think with that opens doors that might not 226 00:11:58,679 --> 00:12:01,520 Speaker 1: have been open. Just here, two kids twenty years ago 227 00:12:01,640 --> 00:12:04,600 Speaker 1: joining the NBA exactly. Well, Well, I always say to everyone, 228 00:12:04,640 --> 00:12:06,240 Speaker 1: if you can't save a dollar, you can't save a 229 00:12:06,240 --> 00:12:09,719 Speaker 1: million dollars, right, So regardless of you know, uh, how 230 00:12:09,800 --> 00:12:13,800 Speaker 1: much my wife listens one more one more time, please 231 00:12:14,000 --> 00:12:16,160 Speaker 1: for not only athletes, but for my wife who may 232 00:12:16,200 --> 00:12:18,520 Speaker 1: be listening to this show. So I mean, you know, 233 00:12:18,880 --> 00:12:20,360 Speaker 1: at the end of the day too, I mean, if 234 00:12:20,400 --> 00:12:22,600 Speaker 1: you have the characteristics of not being able to save 235 00:12:22,679 --> 00:12:25,240 Speaker 1: or you know, understand the essence of money, regardless of 236 00:12:25,320 --> 00:12:27,880 Speaker 1: how much you make, um, it's not gonna make a difference. 237 00:12:27,960 --> 00:12:30,800 Speaker 1: I think, Uh, you know what's changing now is you 238 00:12:30,800 --> 00:12:33,000 Speaker 1: know we have cultural icons as well too that are 239 00:12:33,040 --> 00:12:37,040 Speaker 1: not pillars and great billboards for being able to um 240 00:12:37,480 --> 00:12:40,320 Speaker 1: do different things from your you know, specific professional, your 241 00:12:40,360 --> 00:12:42,880 Speaker 1: specific lanes. So again we have the Magic Johnson's The 242 00:12:42,960 --> 00:12:44,880 Speaker 1: jay Zs of the World and now that Lebron James 243 00:12:44,880 --> 00:12:48,240 Speaker 1: of the worlds That are great billboards and examples of 244 00:12:48,280 --> 00:12:51,839 Speaker 1: different things that are um available to these individuals. And 245 00:12:51,920 --> 00:12:54,000 Speaker 1: you know what I'm trying to do is also is 246 00:12:54,000 --> 00:12:56,400 Speaker 1: trying to spread the message not just about those guys 247 00:12:56,400 --> 00:13:00,000 Speaker 1: just because they're you know, cultural icons and superstars. Um, 248 00:13:00,040 --> 00:13:03,400 Speaker 1: it could be anyone. I was thinking about an interview 249 00:13:03,520 --> 00:13:06,640 Speaker 1: that Shaquille O'Neill did with Bloomberg and he had mentioned 250 00:13:06,640 --> 00:13:10,360 Speaker 1: that he has become conservative now on how he invested 251 00:13:10,360 --> 00:13:13,200 Speaker 1: his money. He said, the best advice he got is 252 00:13:13,320 --> 00:13:17,360 Speaker 1: invest in something that will change people's lives. Can can 253 00:13:17,400 --> 00:13:20,000 Speaker 1: you expand more on that? He said? He hit. It 254 00:13:20,040 --> 00:13:23,920 Speaker 1: wasn't until he invested in Google, where is as he 255 00:13:24,000 --> 00:13:26,839 Speaker 1: put it, he got a big hit, whereas he got 256 00:13:26,840 --> 00:13:29,240 Speaker 1: the other speeches where hey, have you invest here, You're 257 00:13:29,240 --> 00:13:32,240 Speaker 1: gonna make ten times your money and it never pan through. 258 00:13:32,360 --> 00:13:34,800 Speaker 1: So if you can expand more, well, I mean, you 259 00:13:34,800 --> 00:13:36,640 Speaker 1: know you can take that as far as you want 260 00:13:36,679 --> 00:13:38,840 Speaker 1: to about you know, investing in things that are going 261 00:13:38,880 --> 00:13:41,079 Speaker 1: to change people's lives. I mean, Scott and I can 262 00:13:41,120 --> 00:13:43,559 Speaker 1: sit here and think that you know, we have the 263 00:13:43,600 --> 00:13:45,920 Speaker 1: greatest idea of we find the greatest idea that will 264 00:13:46,000 --> 00:13:48,920 Speaker 1: change our lives. Right, So I'd start by saying, you know, 265 00:13:48,960 --> 00:13:51,199 Speaker 1: surround yourself with the people that actually are doing well 266 00:13:51,200 --> 00:13:53,680 Speaker 1: that to understand it, right, That's more important than anything, 267 00:13:53,720 --> 00:13:56,440 Speaker 1: especially if you're gonna invest in it. Um, you know, 268 00:13:56,520 --> 00:13:58,440 Speaker 1: we can sit here again in this room and think 269 00:13:58,480 --> 00:14:00,760 Speaker 1: that we have the greatest ideas of riest ideas, but 270 00:14:00,840 --> 00:14:04,400 Speaker 1: not one of us are you know, are specific novices 271 00:14:04,720 --> 00:14:07,200 Speaker 1: and investing in tech or what have you? Right, So 272 00:14:07,520 --> 00:14:09,640 Speaker 1: be the smart person in the room by you know, 273 00:14:09,679 --> 00:14:12,760 Speaker 1: surrounding yourself with the smartest people. And that's always what 274 00:14:12,800 --> 00:14:15,040 Speaker 1: I always say to people. Don't invest in the pet 275 00:14:15,120 --> 00:14:19,520 Speaker 1: rock exactly what I had said to you years ago. 276 00:14:19,560 --> 00:14:22,280 Speaker 1: I have an idea for a teenage mutant into Turtle. 277 00:14:23,400 --> 00:14:26,400 Speaker 1: You'd say no, but you'd have missed out. So let's 278 00:14:26,400 --> 00:14:28,400 Speaker 1: not kill on the pet rock that made some bucks. 279 00:14:28,840 --> 00:14:31,200 Speaker 1: We are chatting with Rudy Klein Thomas, founder of Master 280 00:14:31,240 --> 00:14:34,280 Speaker 1: And now Rudy did this start with andre Iguodala? Like 281 00:14:34,320 --> 00:14:38,080 Speaker 1: your your association? Then one athlete, we got another, begot another. Yeah, 282 00:14:38,120 --> 00:14:40,840 Speaker 1: well I started as a financial advisor. Um did that 283 00:14:40,920 --> 00:14:44,360 Speaker 1: for UM over twelve years. Um, and people always obviously 284 00:14:44,400 --> 00:14:47,240 Speaker 1: attribute me to Andre and I always tell everyone that 285 00:14:47,440 --> 00:14:49,920 Speaker 1: Andre was just the one that listened the most. You know, Um, 286 00:14:49,960 --> 00:14:54,040 Speaker 1: he definitely exactly That's very true, right, So get kudos 287 00:14:54,080 --> 00:14:56,600 Speaker 1: to Andre Iguadala for listening the most and and and 288 00:14:56,640 --> 00:14:58,720 Speaker 1: being smart enough to listen. But yeah, he listened to 289 00:14:58,760 --> 00:15:03,880 Speaker 1: the most. Um and uh again you see the residue 290 00:15:03,880 --> 00:15:06,200 Speaker 1: of of him listening. There's a lot of other gentlemen 291 00:15:06,240 --> 00:15:09,640 Speaker 1: that I I helped manage their money, UM, that didn't 292 00:15:09,680 --> 00:15:12,480 Speaker 1: listen as much, you know. So, um, we were able 293 00:15:12,520 --> 00:15:15,480 Speaker 1: to grow together. UM. I I had specific interest in tech. 294 00:15:15,960 --> 00:15:18,320 Speaker 1: Um and my interest in tech grew to his interest 295 00:15:18,320 --> 00:15:20,200 Speaker 1: in tech as well too, and we put our heads 296 00:15:20,200 --> 00:15:22,320 Speaker 1: together to be where we are today. I think we're 297 00:15:22,360 --> 00:15:24,800 Speaker 1: a time though. We're athletes. Used to want to be 298 00:15:24,880 --> 00:15:26,760 Speaker 1: rock stars, and rock stars wanted to be athletes, but 299 00:15:26,800 --> 00:15:29,040 Speaker 1: now they want to be tech titans. They want to 300 00:15:29,040 --> 00:15:32,400 Speaker 1: be owners. I think in an NBA and NFL locker room, 301 00:15:32,600 --> 00:15:35,760 Speaker 1: they may be just as well versed in Andrews and 302 00:15:35,800 --> 00:15:41,400 Speaker 1: Horowitz as you name a Jay Z lyrics. They really 303 00:15:42,240 --> 00:15:45,920 Speaker 1: understand more than anything that they don't have to wait 304 00:15:45,960 --> 00:15:49,360 Speaker 1: until they're done playing that there's power in being an 305 00:15:49,360 --> 00:15:51,280 Speaker 1: active player that gets you in the door. You better 306 00:15:51,280 --> 00:15:54,760 Speaker 1: know what you're talking about, but take advantage while I 307 00:15:54,760 --> 00:15:56,920 Speaker 1: think that that's a that's a smart thing. And it's 308 00:15:56,920 --> 00:15:59,000 Speaker 1: not just tech as well too. There's there's a multitude 309 00:15:59,000 --> 00:16:01,720 Speaker 1: of opportunities out there, I think, you know, moving forward, 310 00:16:01,840 --> 00:16:04,840 Speaker 1: you know, it's it's important that, uh that we stress 311 00:16:04,920 --> 00:16:07,800 Speaker 1: that it's not specifically tech. There's other opportunities that are 312 00:16:07,800 --> 00:16:10,000 Speaker 1: out there that that that they have interested in and 313 00:16:10,040 --> 00:16:12,320 Speaker 1: that they can get into as well too. But they 314 00:16:12,360 --> 00:16:15,560 Speaker 1: definitely get it and they're definitely interested, um, and we 315 00:16:15,560 --> 00:16:17,640 Speaker 1: want to lead the charge. Do you have clients that 316 00:16:17,640 --> 00:16:20,680 Speaker 1: are not NBA athletes have, Yeah, so it's not even clients. 317 00:16:20,680 --> 00:16:22,960 Speaker 1: I don't work with anybody individual anymore. I don't I 318 00:16:22,960 --> 00:16:26,600 Speaker 1: don't manage money anymore. I'm just trying to spread the wealth. 319 00:16:26,720 --> 00:16:30,440 Speaker 1: You know, We've done quite well in getting access to 320 00:16:30,520 --> 00:16:33,120 Speaker 1: some of the best companies out there, and I I 321 00:16:33,160 --> 00:16:36,400 Speaker 1: think it's my social responsibility, um, given where I came 322 00:16:36,480 --> 00:16:39,480 Speaker 1: from and who I am now um to to share 323 00:16:39,520 --> 00:16:42,040 Speaker 1: that wealth with athletes, to hopefully share to two more 324 00:16:42,080 --> 00:16:44,080 Speaker 1: people as well too. And do you see a difference 325 00:16:44,200 --> 00:16:47,440 Speaker 1: kind of in the way NBA players are able to 326 00:16:47,480 --> 00:16:51,120 Speaker 1: market themselves and think business wise versus you know, maybe 327 00:16:51,160 --> 00:16:53,240 Speaker 1: different leagues where you know, you might wear a helmet 328 00:16:53,440 --> 00:16:55,920 Speaker 1: or where you're a little bit more anonymous than you 329 00:16:55,920 --> 00:16:57,480 Speaker 1: are in the NBA. Now, I don't think it makes 330 00:16:57,480 --> 00:16:59,520 Speaker 1: a difference. I think that's another thing that you know, 331 00:17:00,040 --> 00:17:02,479 Speaker 1: to take it away, this is not a marketing contract. 332 00:17:02,520 --> 00:17:04,879 Speaker 1: They're not marketers for these companies. I mean I always 333 00:17:04,920 --> 00:17:07,639 Speaker 1: tell other guys, you know, if a company needs you 334 00:17:07,720 --> 00:17:11,200 Speaker 1: to market their product or to expand their business, then 335 00:17:11,200 --> 00:17:14,040 Speaker 1: that's not a good company, right you know. So, UM, 336 00:17:14,080 --> 00:17:16,400 Speaker 1: A lot of this is just learning, you know, understanding 337 00:17:16,400 --> 00:17:19,480 Speaker 1: how companies grow as well to UM a lot you can, 338 00:17:19,560 --> 00:17:21,320 Speaker 1: you know, if you find a way to add value 339 00:17:21,359 --> 00:17:23,879 Speaker 1: to a company like Kudos, But generally speaking, it's not 340 00:17:23,920 --> 00:17:25,720 Speaker 1: going to really happen at scale or at the scale 341 00:17:25,760 --> 00:17:29,160 Speaker 1: which these companies are growing. UM. So again, the fact 342 00:17:29,160 --> 00:17:32,040 Speaker 1: of the matter is people like being associated with them, 343 00:17:32,400 --> 00:17:35,480 Speaker 1: UM be able to to to use that leverage to 344 00:17:35,480 --> 00:17:39,720 Speaker 1: to get access UM and when doing so, UM uh 345 00:17:39,880 --> 00:17:41,520 Speaker 1: make the most of it. I don't want to expand 346 00:17:41,520 --> 00:17:43,560 Speaker 1: more of what you just said, because it's very rare 347 00:17:43,720 --> 00:17:48,320 Speaker 1: when you find an athlete whose name moves the product, 348 00:17:48,400 --> 00:17:51,600 Speaker 1: like Arnold Palmer, for example, he sold his name to 349 00:17:51,640 --> 00:17:54,960 Speaker 1: Arizona for the iced tea that he made, and and 350 00:17:55,480 --> 00:17:57,960 Speaker 1: a lot of people, like my fourteen year old son 351 00:17:58,280 --> 00:18:01,159 Speaker 1: don't even realize he aid golf And I brought that 352 00:18:01,240 --> 00:18:02,959 Speaker 1: up to him and said, you know, he was one 353 00:18:02,960 --> 00:18:04,760 Speaker 1: of the best golfers in the world, and he's like, 354 00:18:05,040 --> 00:18:08,320 Speaker 1: oh yeah, I'm like, yeah, okay, thanks. But that's the 355 00:18:08,400 --> 00:18:11,080 Speaker 1: point is that unless you have a really big name 356 00:18:11,160 --> 00:18:13,640 Speaker 1: like that, it really doesn't work. Yeah, I mean, look 357 00:18:13,640 --> 00:18:16,040 Speaker 1: at Nur Palmer. I mean just specifically, you know, look 358 00:18:16,040 --> 00:18:18,520 Speaker 1: at that business. I mean, at its peak, it might 359 00:18:18,520 --> 00:18:21,520 Speaker 1: have been, uh, you know, two hundred million dollar business. 360 00:18:21,520 --> 00:18:24,840 Speaker 1: You know, the businesses that we're talking about are worth billions, right, 361 00:18:24,920 --> 00:18:27,200 Speaker 1: so you know, it's apples and oranges, you know, when 362 00:18:27,200 --> 00:18:30,440 Speaker 1: we're talking about the comparison of the kind of companies 363 00:18:30,440 --> 00:18:32,680 Speaker 1: that we're looking at nowadays, and that's a consumer product 364 00:18:32,720 --> 00:18:35,280 Speaker 1: company as well too. So you know, we called you know, 365 00:18:35,359 --> 00:18:38,480 Speaker 1: the companies that we really love or you know, enterprise 366 00:18:38,520 --> 00:18:41,359 Speaker 1: companies that sell software, um that have nothing to do 367 00:18:41,400 --> 00:18:44,480 Speaker 1: with athletes or or fame or you know, how popular 368 00:18:44,480 --> 00:18:48,600 Speaker 1: an individual is. Specifically, are the players unions more receptive 369 00:18:48,640 --> 00:18:52,760 Speaker 1: to this message these days? Good question. UM have a 370 00:18:52,760 --> 00:18:56,640 Speaker 1: great relationship with both unions. Um. When you say both 371 00:18:56,800 --> 00:18:59,879 Speaker 1: talking NFL NFL and m P p A M SO 372 00:19:00,000 --> 00:19:03,800 Speaker 1: are UM and Uh, I definitely think that they're aware. UM. 373 00:19:04,000 --> 00:19:06,920 Speaker 1: D Smith has been you know, really great at being 374 00:19:06,920 --> 00:19:09,679 Speaker 1: advocate in reference at tech UM and and trying to 375 00:19:09,680 --> 00:19:11,960 Speaker 1: push the players along so and just understanding it and 376 00:19:12,320 --> 00:19:15,320 Speaker 1: creating a program around it. There a factol venture capitalists 377 00:19:15,320 --> 00:19:18,160 Speaker 1: in their own right now with the one team collected 378 00:19:18,440 --> 00:19:24,360 Speaker 1: the exactly why not keep it in family? He gets 379 00:19:24,400 --> 00:19:26,520 Speaker 1: it totally and I love the way that he's building 380 00:19:27,000 --> 00:19:30,200 Speaker 1: that organization and also you know, uh, helping the guys 381 00:19:30,280 --> 00:19:32,439 Speaker 1: understand their leverage and doing it collectively as well to 382 00:19:32,560 --> 00:19:35,760 Speaker 1: or they're actually making real money. We are chatting with 383 00:19:35,800 --> 00:19:39,520 Speaker 1: Rudy Klein Thomas, founder of Mastery Links athletes and the 384 00:19:39,560 --> 00:19:46,199 Speaker 1: investment community. How did you get started? Pure grit um. 385 00:19:46,640 --> 00:19:48,800 Speaker 1: Those are the good stories, Yeah, those are the good stories. 386 00:19:49,040 --> 00:19:51,359 Speaker 1: How did I get started? I started out, went to 387 00:19:51,400 --> 00:19:53,880 Speaker 1: Providence College, I was an intern in the NBA before 388 00:19:53,880 --> 00:19:57,880 Speaker 1: my senior year in school, and uh, after I graduated, 389 00:19:57,920 --> 00:19:59,920 Speaker 1: I worked as a sports agent. I started out with 390 00:20:00,080 --> 00:20:04,040 Speaker 1: LN Babby who ran uh Willson Conny did that for 391 00:20:04,080 --> 00:20:07,080 Speaker 1: a couple of years. He was one of the first 392 00:20:07,080 --> 00:20:09,720 Speaker 1: to charge by the hour exactly exactly, which is disruptive 393 00:20:09,720 --> 00:20:12,960 Speaker 1: in its own right, right um uh. And then Uh, 394 00:20:13,080 --> 00:20:16,320 Speaker 1: I realized that as a finance and accounting major, and 395 00:20:16,320 --> 00:20:18,800 Speaker 1: I realized there was a great opportunity with helping the 396 00:20:18,840 --> 00:20:21,640 Speaker 1: guys manage their money versus being a sports agent. Um. 397 00:20:21,640 --> 00:20:23,280 Speaker 1: And I thought that I could have more influence and 398 00:20:23,320 --> 00:20:27,280 Speaker 1: impact doing it that way. I have to ask somebody 399 00:20:27,280 --> 00:20:29,159 Speaker 1: we talked about way in the beginning. When you have 400 00:20:29,280 --> 00:20:32,080 Speaker 1: an athlete one years old and now all of a 401 00:20:32,160 --> 00:20:36,679 Speaker 1: sudden they're making a fist full of dollars, you have 402 00:20:36,800 --> 00:20:41,240 Speaker 1: to teach them or a lot of people don't go 403 00:20:41,320 --> 00:20:44,080 Speaker 1: out and just blow all your money. And I remember 404 00:20:44,240 --> 00:20:46,800 Speaker 1: a lesson my father told me many years ago. He said, 405 00:20:46,800 --> 00:20:50,320 Speaker 1: whatever you make, breaking in half, put half of it 406 00:20:50,400 --> 00:20:53,080 Speaker 1: into an investment or savings whatever, and then if you 407 00:20:53,119 --> 00:20:54,520 Speaker 1: want to go buy a pair of shoes, you go 408 00:20:54,640 --> 00:20:57,919 Speaker 1: right ahead. But that's a lesson that I think a 409 00:20:57,960 --> 00:21:00,240 Speaker 1: lot of athletes need to learn. Yeah, a lot of 410 00:21:00,280 --> 00:21:02,360 Speaker 1: them know it already. I mean I think most athletes 411 00:21:02,359 --> 00:21:04,040 Speaker 1: have heard it so many times. I mean, you can 412 00:21:04,040 --> 00:21:08,240 Speaker 1: only imagine I bet you, Uh Scott's nine year old 413 00:21:08,240 --> 00:21:11,399 Speaker 1: son has possibly heard of of an idea or the 414 00:21:11,720 --> 00:21:14,120 Speaker 1: adage of you know, being athletes being able to save 415 00:21:14,160 --> 00:21:16,320 Speaker 1: money or athletes being broke. So you hear about it 416 00:21:16,400 --> 00:21:19,920 Speaker 1: so so early and so often to where it's ingrained 417 00:21:20,520 --> 00:21:22,720 Speaker 1: in their psyche. So there's not an athlete out here 418 00:21:22,760 --> 00:21:25,800 Speaker 1: that doesn't understand or he has heard that before. It's 419 00:21:25,840 --> 00:21:29,040 Speaker 1: just the advent of society and the social pressures, right, um, 420 00:21:29,280 --> 00:21:31,400 Speaker 1: that you have to stay away from. And these are 421 00:21:31,680 --> 00:21:34,440 Speaker 1: almost two different things in some ways, right, saving money 422 00:21:34,440 --> 00:21:37,200 Speaker 1: putting money aside, being smart with your money and investing 423 00:21:37,240 --> 00:21:40,840 Speaker 1: your money aren't necessarily exactly exactly. I mean, how do 424 00:21:40,920 --> 00:21:45,280 Speaker 1: you how do you vent the intentions of people you 425 00:21:45,320 --> 00:21:47,120 Speaker 1: work with. I would imagine if I was a twenty 426 00:21:47,200 --> 00:21:49,520 Speaker 1: year old in the NBA making a lot of money, Um, 427 00:21:49,520 --> 00:21:51,080 Speaker 1: it's easy to say, hey, I want to I want 428 00:21:51,080 --> 00:21:52,919 Speaker 1: to invest in tech, like I just want to do this, 429 00:21:52,960 --> 00:21:56,040 Speaker 1: I have money, let's do it. Versus I imagine you'd 430 00:21:56,040 --> 00:21:59,080 Speaker 1: want to work with a client who work with somebody 431 00:21:59,080 --> 00:22:01,919 Speaker 1: who know was a little bit more it understands the world. 432 00:22:02,200 --> 00:22:04,119 Speaker 1: I mean, there's more than just wanting to do it right. 433 00:22:04,160 --> 00:22:06,199 Speaker 1: You have to have some kind of base understanding or 434 00:22:06,240 --> 00:22:09,119 Speaker 1: willingness to listen. Right, Yeah, I think you know. The 435 00:22:09,600 --> 00:22:11,720 Speaker 1: fulcrum For me, it starts out in the foundation is 436 00:22:11,720 --> 00:22:14,680 Speaker 1: always education, right, And that's what what I do with Bloomberg. 437 00:22:14,720 --> 00:22:18,840 Speaker 1: You know, we educate um, all these athletes with the 438 00:22:18,880 --> 00:22:22,800 Speaker 1: opportunities that are out there, um, and and just the 439 00:22:23,440 --> 00:22:26,760 Speaker 1: create the foundation as to the different segments of possibly 440 00:22:26,800 --> 00:22:29,680 Speaker 1: investing and or this world that they call Silicon Valley. Right, 441 00:22:29,720 --> 00:22:31,919 Speaker 1: And it starts there, you know, and then you know, 442 00:22:32,320 --> 00:22:35,080 Speaker 1: it's almost like a degree, you know, to where it 443 00:22:35,160 --> 00:22:37,719 Speaker 1: starts with the foundation, and then you build up to 444 00:22:37,920 --> 00:22:41,119 Speaker 1: hopefully eventually investing and maybe not, you know, but generally 445 00:22:41,160 --> 00:22:43,720 Speaker 1: the education will lead to something. One of the reasons 446 00:22:43,800 --> 00:22:45,600 Speaker 1: I'm asking I have talked to a lot of private 447 00:22:45,600 --> 00:22:47,720 Speaker 1: equity guys, a lot of whom say, when they get 448 00:22:47,760 --> 00:22:50,560 Speaker 1: pitch decks and they see, you know, that slide that 449 00:22:50,640 --> 00:22:53,600 Speaker 1: says pick a random Athley, Carmelo Anthony is invested. You 450 00:22:53,640 --> 00:22:57,320 Speaker 1: know they're next. Exactly is that something that you run 451 00:22:57,320 --> 00:23:01,160 Speaker 1: into theres not, There's not I don't know if There's 452 00:23:02,160 --> 00:23:05,720 Speaker 1: two investments that that I've gotten into that has you know, 453 00:23:05,800 --> 00:23:08,040 Speaker 1: more than another you know, an athlete or two or 454 00:23:08,080 --> 00:23:10,440 Speaker 1: three you know invested in. That's not you know, anybody 455 00:23:10,440 --> 00:23:14,400 Speaker 1: that's focused on, you know, getting money from athletes generally speaking, 456 00:23:14,520 --> 00:23:17,120 Speaker 1: is you know, if that's there who they're raising from. 457 00:23:17,320 --> 00:23:19,760 Speaker 1: It's just generally speaking, out of good business. I think 458 00:23:20,440 --> 00:23:25,640 Speaker 1: we know Lebron is a beacon, right, Are we understating 459 00:23:26,200 --> 00:23:29,960 Speaker 1: the effect and the impact he is having now and 460 00:23:30,040 --> 00:23:35,360 Speaker 1: he will have in the future on young athletes. Yeah, 461 00:23:35,440 --> 00:23:39,880 Speaker 1: I mean I really think we don't understand the impact because, yes, 462 00:23:39,960 --> 00:23:42,600 Speaker 1: everybody wants to be a great player and that, but 463 00:23:42,640 --> 00:23:45,359 Speaker 1: they all know they won't be Lebron. But there is 464 00:23:45,400 --> 00:23:52,000 Speaker 1: a vehicle to equity to ownership, and I think Lebron 465 00:23:52,119 --> 00:23:54,960 Speaker 1: is really hammering home that message more than anything else. Yeah, 466 00:23:55,000 --> 00:23:58,679 Speaker 1: the impact is is compounded from the fact of the 467 00:23:58,720 --> 00:24:01,640 Speaker 1: cultural influence that he has us. Right, so the cultural 468 00:24:01,680 --> 00:24:04,159 Speaker 1: influence will always be greater than you know, what he 469 00:24:04,200 --> 00:24:06,440 Speaker 1: does on the basketball court. I think what makes him 470 00:24:06,480 --> 00:24:10,239 Speaker 1: special is he understands the social responsibility that God has 471 00:24:10,240 --> 00:24:13,320 Speaker 1: given him um and he's he hasn't taken it for granted, 472 00:24:13,400 --> 00:24:16,280 Speaker 1: you know, so, and he's really fully assumed that responsibility 473 00:24:16,640 --> 00:24:19,560 Speaker 1: and he's and you know, all everything that he does 474 00:24:20,080 --> 00:24:22,760 Speaker 1: off the court, he understands the impact that he's making 475 00:24:22,800 --> 00:24:25,240 Speaker 1: it and again we won't realize it until he's done playing. 476 00:24:25,280 --> 00:24:28,280 Speaker 1: I think as to the cultural impact that that he's made, 477 00:24:28,320 --> 00:24:30,840 Speaker 1: and that's generally what generally happens. We are chatting with 478 00:24:30,880 --> 00:24:33,800 Speaker 1: Rudy Klein Thomas, founder of Mastery, helps link athletes in 479 00:24:33,800 --> 00:24:36,359 Speaker 1: the investment community. What were some of your mistakes that 480 00:24:36,400 --> 00:24:40,960 Speaker 1: you learned from the biggest mistake has always been, um, 481 00:24:41,080 --> 00:24:45,479 Speaker 1: especially initially a great question, actually, um, moving too quickly 482 00:24:45,480 --> 00:24:50,159 Speaker 1: when I was young, right, so, um, the lack of patients. Um, 483 00:24:50,200 --> 00:24:53,720 Speaker 1: that's true athletes on field of plate Yeah, you here 484 00:24:54,720 --> 00:24:58,960 Speaker 1: Jason Kidd in particular, he said, I became the best 485 00:24:59,080 --> 00:25:03,560 Speaker 1: player on the court when I learned that fast wasn't better. Yeah, 486 00:25:03,680 --> 00:25:07,520 Speaker 1: sometimes I needed to slow down, exactly exactly. So generally speaking, 487 00:25:07,560 --> 00:25:10,680 Speaker 1: I was a hard learner early on, I'd say early twenties, 488 00:25:10,720 --> 00:25:13,960 Speaker 1: because you know, I wanted it all now. Um, and 489 00:25:14,000 --> 00:25:16,639 Speaker 1: all the biggest mistakes that I've made in my life 490 00:25:16,640 --> 00:25:20,320 Speaker 1: have been has been just from the standpoint of trying 491 00:25:20,320 --> 00:25:22,920 Speaker 1: to move too fast. And I'd say over the last 492 00:25:23,160 --> 00:25:25,480 Speaker 1: five to six years that I've actually slowed down, and 493 00:25:26,240 --> 00:25:30,840 Speaker 1: you know, I've grown exponentially personally and professionally from slowing. Now. 494 00:25:31,240 --> 00:25:36,400 Speaker 1: That's a hard lesson though, because it being for athletes especially, 495 00:25:36,640 --> 00:25:39,719 Speaker 1: they're used to that mentality is like, Hey, I gotta go, 496 00:25:40,080 --> 00:25:42,119 Speaker 1: I gotta go now, and then all of a sudden, 497 00:25:42,520 --> 00:25:45,320 Speaker 1: just like what Scott mentioned about Jason Kidd, you have 498 00:25:45,440 --> 00:25:48,040 Speaker 1: to kind of re learn and rewire yourself. Well, I'll 499 00:25:48,040 --> 00:25:50,200 Speaker 1: tell you this guy's I mean, the only way that 500 00:25:50,640 --> 00:25:53,480 Speaker 1: what slowed me down is surrounding myself with mentors, right, 501 00:25:53,600 --> 00:25:55,720 Speaker 1: you know, guys that have done it before, or people 502 00:25:55,760 --> 00:25:58,480 Speaker 1: that I've tried to or want to emulate, UM, and 503 00:25:58,520 --> 00:26:01,320 Speaker 1: then just learning from their mistakes. So it's time to 504 00:26:01,440 --> 00:26:07,320 Speaker 1: name names. I essentially, uh, I essentially UM surround myself 505 00:26:07,320 --> 00:26:10,080 Speaker 1: with as many as possible now and and and I'm 506 00:26:10,200 --> 00:26:12,840 Speaker 1: very motivated to do so UM to allow me to 507 00:26:12,920 --> 00:26:16,240 Speaker 1: learn much faster UM and again learn from their mistake. 508 00:26:16,280 --> 00:26:17,800 Speaker 1: There's so many people that are willing to give that 509 00:26:17,840 --> 00:26:21,400 Speaker 1: advice out there. Seriously, can your name and I think 510 00:26:21,520 --> 00:26:23,920 Speaker 1: I think we share one. I'll name one and I 511 00:26:23,920 --> 00:26:26,600 Speaker 1: don't think he'll Min said, yes, that's one from David Stern. Yes, 512 00:26:26,720 --> 00:26:30,119 Speaker 1: David's definitely been um a mentor of mine. I met 513 00:26:30,200 --> 00:26:32,879 Speaker 1: David Stern initially. He won't remember meeting me when I 514 00:26:32,920 --> 00:26:35,200 Speaker 1: was an intern at the NBA, but I've watched him 515 00:26:35,240 --> 00:26:38,840 Speaker 1: closely and he's been um extremely extremely helpful in my 516 00:26:38,920 --> 00:26:43,160 Speaker 1: development over the last you know, uh, three or four years. Um. 517 00:26:43,240 --> 00:26:47,639 Speaker 1: David doesn't bite his tongue at all, um and uh 518 00:26:48,000 --> 00:26:51,399 Speaker 1: he generally has a genuine interest UM and and helping 519 00:26:51,440 --> 00:26:53,640 Speaker 1: out you know, specifically, I think he's take a keen 520 00:26:53,680 --> 00:26:57,199 Speaker 1: interest in what I've what I'm doing, UM, and we 521 00:26:57,240 --> 00:26:59,800 Speaker 1: share an interest in tech. He's not kidding. He takes 522 00:27:00,160 --> 00:27:03,560 Speaker 1: or pleasure and players being successful off the court then 523 00:27:03,560 --> 00:27:06,359 Speaker 1: on the court. That's actually what he wants for NBA 524 00:27:06,400 --> 00:27:08,960 Speaker 1: players or has always wanted, and something I believe he's 525 00:27:08,960 --> 00:27:12,160 Speaker 1: communicated to Adam and you can see that message has 526 00:27:12,440 --> 00:27:15,159 Speaker 1: has permeated the league. I love the way you just 527 00:27:15,520 --> 00:27:19,879 Speaker 1: gave up Rudy David Stern, but it's true. It is 528 00:27:19,920 --> 00:27:22,480 Speaker 1: like what you just said, David would mind. David would mind. 529 00:27:22,520 --> 00:27:24,080 Speaker 1: I know he's a good guy. Oh if he hears 530 00:27:24,119 --> 00:27:25,800 Speaker 1: this and and he has a problem with it, I'm 531 00:27:25,840 --> 00:27:29,159 Speaker 1: sending him away. But believe David knows my number and 532 00:27:29,160 --> 00:27:31,960 Speaker 1: he's not afraid to use it. Like I said, David 533 00:27:32,040 --> 00:27:34,040 Speaker 1: is not one to hold his tongue. I tell people 534 00:27:34,040 --> 00:27:35,800 Speaker 1: all the time, I did not go to law school. 535 00:27:36,520 --> 00:27:40,359 Speaker 1: I did one better. I grew up reporting, covering the NBA, 536 00:27:40,480 --> 00:27:44,280 Speaker 1: specifically on a national basis. I graduated from the University 537 00:27:44,280 --> 00:27:47,600 Speaker 1: of David Stern, which is harder than going to Harvard 538 00:27:47,920 --> 00:27:51,040 Speaker 1: because you're facing that professor every day and you better 539 00:27:51,119 --> 00:27:54,280 Speaker 1: bring it because he does not allow you to get away. 540 00:27:55,119 --> 00:27:58,359 Speaker 1: In the NBA, right now, we have one former player 541 00:27:58,440 --> 00:28:00,960 Speaker 1: who's an owner, Michael Jordan, who obviously made a lot 542 00:28:00,960 --> 00:28:04,880 Speaker 1: of money outside of his basketball playing career as well. Um, 543 00:28:04,960 --> 00:28:08,280 Speaker 1: with franchise valuations being so high, do you think we're 544 00:28:08,280 --> 00:28:11,600 Speaker 1: going to see another majority owner that's a former player 545 00:28:11,760 --> 00:28:14,119 Speaker 1: or is it is the price tag becoming so great 546 00:28:14,200 --> 00:28:17,399 Speaker 1: that that you kind of need to be a titan 547 00:28:17,520 --> 00:28:20,840 Speaker 1: of industry to to to pay that price? Well, yeah, look, 548 00:28:20,880 --> 00:28:23,639 Speaker 1: look what's happened guys. You know since since two thousand 549 00:28:23,640 --> 00:28:26,719 Speaker 1: and ten is the essence of wealth is considerably changed, 550 00:28:26,800 --> 00:28:29,679 Speaker 1: right you know, so you know now to be wealthy 551 00:28:29,680 --> 00:28:32,680 Speaker 1: you have to be considered a billionaire period, right, and 552 00:28:32,960 --> 00:28:36,480 Speaker 1: even that doesn't get Scott and I always talk about 553 00:28:36,520 --> 00:28:38,640 Speaker 1: that doesn't get you anywhere, right with the with these 554 00:28:38,720 --> 00:28:41,400 Speaker 1: league valuations, and it's not going anywhere. The advent of 555 00:28:41,400 --> 00:28:45,280 Speaker 1: of betting as well um as tech will will will 556 00:28:45,320 --> 00:28:48,720 Speaker 1: definitely significantly add an even media as well too as 557 00:28:48,720 --> 00:28:51,080 Speaker 1: it's changing, will add to the valuations of these teams. 558 00:28:51,280 --> 00:28:53,360 Speaker 1: I think a lot of players have the ascerations of 559 00:28:53,360 --> 00:28:56,200 Speaker 1: of owning teams. What they don't understand is, uh, it's 560 00:28:56,240 --> 00:28:59,160 Speaker 1: just won't happen, you know. I think maybe one possibly 561 00:28:59,200 --> 00:29:02,000 Speaker 1: to have the opportunity to own a team, and even 562 00:29:02,080 --> 00:29:05,840 Speaker 1: majority is questionable, right you know, um, but uh, but 563 00:29:05,880 --> 00:29:07,880 Speaker 1: it's interesting. I love what Grant did as well too. 564 00:29:07,880 --> 00:29:09,360 Speaker 1: I think a lot of them could be part of it. 565 00:29:09,400 --> 00:29:12,360 Speaker 1: I think it'd be smart for owners that surround themselves 566 00:29:12,360 --> 00:29:15,160 Speaker 1: with more former players as well too, um to be 567 00:29:15,240 --> 00:29:18,240 Speaker 1: successful half success, But it won't happen from majority Standford 568 00:29:18,280 --> 00:29:19,720 Speaker 1: grand Hill was ahead of his time and that he 569 00:29:19,840 --> 00:29:22,479 Speaker 1: told me on his off days on the road he 570 00:29:22,560 --> 00:29:24,719 Speaker 1: used to go and meet with the opposing team owners 571 00:29:25,160 --> 00:29:29,680 Speaker 1: because he was interested in their specific core business. I mean, 572 00:29:30,040 --> 00:29:32,200 Speaker 1: I've also had people tell me guys off the road. 573 00:29:32,240 --> 00:29:34,680 Speaker 1: They go to theme parks and launch cartoon network. Yeah, 574 00:29:34,680 --> 00:29:36,880 Speaker 1: you wrote that article years ago and I shared all 575 00:29:36,920 --> 00:29:38,720 Speaker 1: the time. I shared as many times as possible the 576 00:29:38,760 --> 00:29:41,280 Speaker 1: article that you wrote about Grant. I wish that more 577 00:29:41,360 --> 00:29:43,960 Speaker 1: guys would read it and just gave me an idea 578 00:29:44,040 --> 00:29:48,160 Speaker 1: for from my from my newsletter this week. Um, I'll 579 00:29:48,200 --> 00:29:51,280 Speaker 1: definitely share that article again. But it's one of the 580 00:29:51,280 --> 00:29:54,040 Speaker 1: best articles ever in references. Just you know, people think 581 00:29:54,160 --> 00:29:55,600 Speaker 1: and look at the Grant now and how did he 582 00:29:55,680 --> 00:29:57,640 Speaker 1: do it? You know, this guy has been building this 583 00:29:58,080 --> 00:29:59,800 Speaker 1: and it has been planning for this for the last 584 00:29:59,800 --> 00:30:01,920 Speaker 1: few fifteen years. It just didn't start today. He just 585 00:30:01,920 --> 00:30:04,200 Speaker 1: didn't get an opportunity to own a team. And by 586 00:30:04,240 --> 00:30:06,479 Speaker 1: the way, it's it always helps to have a little 587 00:30:06,520 --> 00:30:11,080 Speaker 1: assistance from mom and dad for the cowboys open some doors. 588 00:30:11,160 --> 00:30:13,160 Speaker 1: But the impressive one of the family is Janet his 589 00:30:13,280 --> 00:30:16,720 Speaker 1: mother on the board at Carlisle. So yeah, hi, Mr 590 00:30:16,800 --> 00:30:19,160 Speaker 1: NBA All Star. But mom, can you make a call? 591 00:30:19,440 --> 00:30:21,960 Speaker 1: You know, I'd like to meet with Steven Schwartz. That 592 00:30:22,080 --> 00:30:26,920 Speaker 1: was true, use use it whatever. One question I would 593 00:30:27,080 --> 00:30:29,320 Speaker 1: like to add about that is when you get to 594 00:30:29,680 --> 00:30:33,880 Speaker 1: an athlete like a grand Hill born in Dominican suit 595 00:30:34,760 --> 00:30:37,360 Speaker 1: that was one name that popped in my head. You 596 00:30:37,440 --> 00:30:41,320 Speaker 1: see this especially in Dominicans. So you see this one 597 00:30:41,360 --> 00:30:44,880 Speaker 1: persona on the football field. Now he's with the Los 598 00:30:44,920 --> 00:30:47,719 Speaker 1: Angeles Rams, and he's out there and it's fierce and 599 00:30:47,760 --> 00:30:51,240 Speaker 1: it's you know, he's playing tough. And then you separate 600 00:30:51,280 --> 00:30:54,160 Speaker 1: that and then you realize this man is a very 601 00:30:54,280 --> 00:30:57,280 Speaker 1: good businessman of all of the stuff that he's done, 602 00:30:57,480 --> 00:31:00,640 Speaker 1: and I think the public needs to realize to separate 603 00:31:00,720 --> 00:31:02,920 Speaker 1: that from the two what you see on the court, 604 00:31:03,920 --> 00:31:07,760 Speaker 1: uh as in Steph Curry compared to what he has 605 00:31:07,840 --> 00:31:12,360 Speaker 1: done business wise, they're almost like two different people. And 606 00:31:12,360 --> 00:31:14,000 Speaker 1: and I could say that for each and every one 607 00:31:14,040 --> 00:31:17,400 Speaker 1: of them. You know, Um, I haven't met a professional 608 00:31:17,440 --> 00:31:21,360 Speaker 1: athlete that I actually didn't like personally at all, never, 609 00:31:21,760 --> 00:31:26,440 Speaker 1: you know, Um, generally speaking, they've all been great people. Um. 610 00:31:26,480 --> 00:31:29,200 Speaker 1: But again, you know, this is their entertainers at the 611 00:31:29,280 --> 00:31:30,760 Speaker 1: end of the day, you know, and when they step 612 00:31:31,160 --> 00:31:33,600 Speaker 1: you know, when the lights are on that they're paid 613 00:31:33,640 --> 00:31:35,960 Speaker 1: to entertain. And that's the essence of it too. So 614 00:31:36,480 --> 00:31:38,760 Speaker 1: you know, unfortunately a lot of that gets bled into 615 00:31:38,800 --> 00:31:41,560 Speaker 1: real life, which it isn't you know, Um, and I 616 00:31:41,600 --> 00:31:43,960 Speaker 1: think that if you if you're able to separate the two, 617 00:31:43,960 --> 00:31:46,760 Speaker 1: then you're able to put it in the context as well. Yeah, well, 618 00:31:46,760 --> 00:31:49,080 Speaker 1: putting into context is what we hope to do here. 619 00:31:49,120 --> 00:31:51,200 Speaker 1: Rudy Kline Thomas, thank you so much for coming in 620 00:31:51,240 --> 00:31:53,240 Speaker 1: studio and sharing a little bit of what you're doing. 621 00:31:53,360 --> 00:31:58,560 Speaker 1: Thank you takeaways. I love it because we're emphasizing that 622 00:31:58,680 --> 00:32:01,760 Speaker 1: young men, as you mentioned earlier in the show, they're 623 00:32:01,760 --> 00:32:06,080 Speaker 1: not just dumb, stupid athletes. These are young men and 624 00:32:06,120 --> 00:32:09,440 Speaker 1: women who are very smart and if they put the 625 00:32:09,480 --> 00:32:12,360 Speaker 1: dollars in the right place, they can have a very 626 00:32:12,440 --> 00:32:14,880 Speaker 1: nice life. You know. My thing. Athletes want to be 627 00:32:14,960 --> 00:32:17,480 Speaker 1: rock stars. Rock stars want to be athletes. Well, the 628 00:32:17,560 --> 00:32:19,560 Speaker 1: rock stars still want to be athletes, but the athletes 629 00:32:19,600 --> 00:32:22,120 Speaker 1: don't want to be rock stars anymore, you know, gone 630 00:32:22,160 --> 00:32:25,200 Speaker 1: in the days of the Shaquille O'Neil rap video. Athletes 631 00:32:25,240 --> 00:32:29,080 Speaker 1: want to be titans of industry. They look at Lebron 632 00:32:29,200 --> 00:32:32,400 Speaker 1: and even Rudy said it, like you, this is the guy. 633 00:32:32,480 --> 00:32:36,280 Speaker 1: You you have, you have magic, you have Michael and 634 00:32:36,320 --> 00:32:39,600 Speaker 1: now Lebron. My guests will exceed what both of those 635 00:32:39,600 --> 00:32:42,840 Speaker 1: gentlemen have done, in part because of what has come 636 00:32:42,880 --> 00:32:48,400 Speaker 1: before him. But Lebron is building an absolute entertainment behemoth, 637 00:32:48,800 --> 00:32:52,160 Speaker 1: and he understands ownership a lot, a lot of a 638 00:32:52,160 --> 00:32:54,680 Speaker 1: lot of those following in his footsteps off the court, 639 00:32:54,760 --> 00:32:57,040 Speaker 1: and it's changing the way that the fans interact with 640 00:32:57,080 --> 00:32:59,680 Speaker 1: the players. Also, Lebron and Blaze Pizza is a perfect 641 00:32:59,720 --> 00:33:03,400 Speaker 1: examp right. Fifteen years ago, Lebron would have been an 642 00:33:03,520 --> 00:33:07,600 Speaker 1: endorser of Pizza Hut Right or or Papa John's. Instead, 643 00:33:07,840 --> 00:33:10,600 Speaker 1: Lebron took an equity stake in a much smaller company 644 00:33:10,840 --> 00:33:13,000 Speaker 1: that he has some investment in that he owns a 645 00:33:13,040 --> 00:33:16,360 Speaker 1: piece of He's a franchise z in a specific part 646 00:33:16,360 --> 00:33:18,720 Speaker 1: of the country. This is the new world for athletes. 647 00:33:19,040 --> 00:33:20,920 Speaker 1: Let's see if even get it is not the pizza 648 00:33:21,000 --> 00:33:23,320 Speaker 1: until it comes out of the oven? Or is it 649 00:33:23,360 --> 00:33:25,120 Speaker 1: a pizza as soon as I put my fingers in 650 00:33:25,200 --> 00:33:33,440 Speaker 1: the dope Signfeld's hey puppy got sloppy? Oh mannrosn't want 651 00:33:35,120 --> 00:33:37,000 Speaker 1: It feels better to be number one than number five. 652 00:33:37,040 --> 00:33:38,640 Speaker 1: I'll wear a number because of Mike. We have a 653 00:33:38,720 --> 00:33:40,560 Speaker 1: chance to go for three in a row. Kids numbers 654 00:33:40,560 --> 00:33:42,719 Speaker 1: in a good time. And I first started wearing the number, 655 00:33:42,800 --> 00:33:46,240 Speaker 1: I would just have the Bloomberg Business of Sports. The 656 00:33:46,440 --> 00:33:50,160 Speaker 1: number of the week time now, but the number of 657 00:33:50,160 --> 00:33:53,400 Speaker 1: the week, and you know what you sent that to me? 658 00:33:53,680 --> 00:33:55,400 Speaker 1: I sent you the number. What was it two million 659 00:33:55,480 --> 00:33:57,080 Speaker 1: or something? It was two millions. It was two millions, 660 00:33:57,400 --> 00:34:00,080 Speaker 1: remember that. I don't remember what the two million was it. 661 00:34:00,200 --> 00:34:03,160 Speaker 1: I remember remember what it was. I'm trying to remember 662 00:34:03,200 --> 00:34:04,960 Speaker 1: what it was. Seriously, he brought the number of the week, 663 00:34:06,280 --> 00:34:13,320 Speaker 1: the number one. What was Come on, man, I don't remember. 664 00:34:13,400 --> 00:34:17,680 Speaker 1: I remember I wrote down two million. I'm actually searching 665 00:34:17,800 --> 00:34:21,800 Speaker 1: right now number of week for you on my number 666 00:34:22,160 --> 00:34:25,959 Speaker 1: it was. I don't think I'm gonna find it unbelievable. 667 00:34:25,960 --> 00:34:29,520 Speaker 1: But you are responsible for this, I know, and I was. 668 00:34:29,680 --> 00:34:32,239 Speaker 1: I was working so hard. Man. Sure I had the 669 00:34:32,320 --> 00:34:34,360 Speaker 1: number of two million, rich Truman said, he sent you 670 00:34:34,400 --> 00:34:36,480 Speaker 1: a number two? He did you know that one? So 671 00:34:36,520 --> 00:34:38,560 Speaker 1: maybe we could just do this? That was what? Wait? 672 00:34:38,600 --> 00:34:40,839 Speaker 1: I got it? I got it? I got it? How good? 673 00:34:40,840 --> 00:34:45,320 Speaker 1: Am I all right? I got it? Yeah? Come on 674 00:34:46,040 --> 00:34:49,760 Speaker 1: the air, high pressure. The number of subscribers at ESPN 675 00:34:49,800 --> 00:34:54,319 Speaker 1: plus already. Yes, that's a good business number. That's like 676 00:34:54,400 --> 00:34:57,360 Speaker 1: doubled from when they three or four four months whatever 677 00:34:57,360 --> 00:34:59,960 Speaker 1: it was five bucks a month to a million subscribers 678 00:35:00,000 --> 00:35:02,160 Speaker 1: are can you do the man five bucks a month? 679 00:35:02,239 --> 00:35:05,040 Speaker 1: Two million? We're talking about ten million, ten million. I 680 00:35:05,040 --> 00:35:07,680 Speaker 1: mean it's not it's not the six nineties. Whatever is 681 00:35:07,719 --> 00:35:10,080 Speaker 1: the cable subscriber get you know, the subfiees and we're 682 00:35:10,080 --> 00:35:13,560 Speaker 1: not replacing subfees yet, but it's a growing business. That's 683 00:35:13,600 --> 00:35:15,640 Speaker 1: a real number. Yeah, when they announced the million a 684 00:35:15,640 --> 00:35:17,319 Speaker 1: couple of months ago, it kind of came right on 685 00:35:17,360 --> 00:35:21,520 Speaker 1: the heels of ESPN announcing that ESPN Insider members were 686 00:35:21,520 --> 00:35:23,880 Speaker 1: now also plus members, which let do a lot of 687 00:35:23,880 --> 00:35:26,239 Speaker 1: speculation that they were kind of juicing the numbers. You're 688 00:35:26,280 --> 00:35:28,839 Speaker 1: hearing less of that speculation now. It certainly feels as 689 00:35:28,840 --> 00:35:32,600 Speaker 1: though there's a been a momentum behind with real sports, 690 00:35:31,680 --> 00:35:34,440 Speaker 1: and again, as we talked about with the Zone and 691 00:35:34,480 --> 00:35:37,400 Speaker 1: all these you need to see the churn numbers. Getting 692 00:35:37,400 --> 00:35:39,720 Speaker 1: people to sign up is one thing, and it's also 693 00:35:39,719 --> 00:35:41,040 Speaker 1: it's something you can pay for. You can pay for 694 00:35:41,080 --> 00:35:44,160 Speaker 1: new users. Can you pay for them to keep coming back? 695 00:35:44,239 --> 00:35:46,279 Speaker 1: And that's the big question, Well these people continue to 696 00:35:46,280 --> 00:35:49,000 Speaker 1: subscribe or when they finally get a chance to renew, 697 00:35:49,520 --> 00:35:50,800 Speaker 1: are they going to Chan and will they go to 698 00:35:50,880 --> 00:35:53,200 Speaker 1: read Hastings model where you get everybody hooked and then 699 00:35:53,239 --> 00:35:57,120 Speaker 1: what do you do the price exactly, Just have a taste. 700 00:35:57,200 --> 00:36:00,800 Speaker 1: That's right. You've been listening to the blue Burg Business 701 00:36:00,800 --> 00:36:04,600 Speaker 1: of Sports. We including Mountain Man Evan are here each 702 00:36:04,600 --> 00:36:06,760 Speaker 1: and every week for you at the same time, plus 703 00:36:06,840 --> 00:36:09,799 Speaker 1: online as an Apple podcast. You can catch that Monday's, 704 00:36:09,800 --> 00:36:12,640 Speaker 1: Wednesdays and Thursdays. I'm Michael bar on Twitter at Big 705 00:36:12,640 --> 00:36:16,000 Speaker 1: Bar Sports, I'm Evan Novie Williams at nov Underscore Williams, 706 00:36:16,040 --> 00:36:18,040 Speaker 1: and I'm Scott Stick. You can follow me on Twitter 707 00:36:18,160 --> 00:36:20,759 Speaker 1: at Thank you very much for joining us. Please tune 708 00:36:20,760 --> 00:36:23,239 Speaker 1: in next week when we speak with the biggest and 709 00:36:23,280 --> 00:36:27,400 Speaker 1: brightest in the sports business industry, and we have NBA 710 00:36:27,480 --> 00:36:30,000 Speaker 1: All Star Fred Well, he's not an all start for 711 00:36:30,080 --> 00:36:34,200 Speaker 1: NBA All Star Week, Fred van Fleet. This guy has 712 00:36:34,239 --> 00:36:37,080 Speaker 1: a great take on how to take care of your money. 713 00:36:37,480 --> 00:36:40,440 Speaker 1: You're listening to Bloomberg Business of Sports and Bloomberg Radio 714 00:36:40,560 --> 00:36:41,680 Speaker 1: around the world.