1 00:00:00,520 --> 00:00:04,120 Speaker 1: This is Bloomberg Business of Sports. COVID has been so 2 00:00:04,320 --> 00:00:07,640 Speaker 1: devastating and to see thirty eight thousand people of Henry 3 00:00:07,760 --> 00:00:11,960 Speaker 1: Park it was really emotional and rewardings from the business side, 4 00:00:12,119 --> 00:00:16,080 Speaker 1: from ticket sales to jersey sale revenues are up. Everything 5 00:00:16,160 --> 00:00:18,120 Speaker 1: was really good as well as solids there. I realized 6 00:00:18,160 --> 00:00:20,639 Speaker 1: that at the beginning of twenty nineteen would be a 7 00:00:20,760 --> 00:00:23,760 Speaker 1: very unique opportunity in terms of a lot of contracts 8 00:00:23,760 --> 00:00:25,439 Speaker 1: being up at the same time and a lot of 9 00:00:25,560 --> 00:00:28,000 Speaker 1: exiting young wrestlers being available to go out and start 10 00:00:28,000 --> 00:00:31,479 Speaker 1: a wrestling company. The country is finally deeply getting the 11 00:00:31,520 --> 00:00:34,199 Speaker 1: memo about how amazing the sport is. I think the 12 00:00:34,240 --> 00:00:37,480 Speaker 1: sky's a limit for MLS. Bloomberg Business of Sports from 13 00:00:37,479 --> 00:00:42,960 Speaker 1: Bloomberg Radio. Hello, and welcome to the Bloomberg Business of 14 00:00:43,120 --> 00:00:45,640 Speaker 1: Sports show. When we talked to some of the biggest 15 00:00:45,640 --> 00:00:49,000 Speaker 1: players in the industry, I'm Michael Barr, I'm Scarlett, and 16 00:00:49,120 --> 00:00:52,600 Speaker 1: I'm Mike Lynch. And we've got a big player. He's 17 00:00:52,640 --> 00:00:57,280 Speaker 1: the chairman of the board of Integrity Marketing Group, and 18 00:00:57,560 --> 00:01:01,080 Speaker 1: he's a Hall of Fame quarterback. He's one of Super 19 00:01:01,120 --> 00:01:04,840 Speaker 1: Bowl Steve Young will join us later in the program. 20 00:01:04,840 --> 00:01:06,720 Speaker 1: But we've got a lot of topics to talk about, 21 00:01:07,280 --> 00:01:11,840 Speaker 1: and the biggest one probably the NHL the postponement, and 22 00:01:11,959 --> 00:01:16,399 Speaker 1: now there's the team is not going. Any United States 23 00:01:16,440 --> 00:01:21,520 Speaker 1: team from the NHL not going to the Beijing Winter Olympics. Yeah, 24 00:01:21,560 --> 00:01:24,440 Speaker 1: the NHL players will not be attending the Olympics. This 25 00:01:24,480 --> 00:01:26,679 Speaker 1: is something they've been kind of dancing around. The league 26 00:01:26,800 --> 00:01:29,120 Speaker 1: was saying it would make a final decision, but you 27 00:01:29,200 --> 00:01:32,680 Speaker 1: kind of knew it was inevitable after the league suspended 28 00:01:33,240 --> 00:01:37,640 Speaker 1: games between Canadian based teams and US based teams. Just 29 00:01:37,720 --> 00:01:40,600 Speaker 1: the protocol involved in sending players overseas was going to 30 00:01:40,680 --> 00:01:43,920 Speaker 1: be really complicated. Um, we know the teams and owners 31 00:01:44,040 --> 00:01:47,720 Speaker 1: never really liked the idea of having players playing the Olympics. 32 00:01:47,760 --> 00:01:49,280 Speaker 1: It was a three week break in the middle of 33 00:01:49,280 --> 00:01:52,200 Speaker 1: the season. There was a risk of injury to the players. 34 00:01:52,760 --> 00:01:55,560 Speaker 1: Right before the second half of the season where you 35 00:01:55,600 --> 00:01:58,480 Speaker 1: got to ramp things up. And did it really spread 36 00:01:58,520 --> 00:02:01,800 Speaker 1: the sport of hockey. It's debatable if you know the 37 00:02:01,840 --> 00:02:04,160 Speaker 1: games are being played at three in the morning. Yeah, 38 00:02:04,320 --> 00:02:07,520 Speaker 1: I mean, this was an agreement between the Players Association 39 00:02:07,600 --> 00:02:09,800 Speaker 1: and the National Hockey League. It was the right decision, 40 00:02:09,800 --> 00:02:12,440 Speaker 1: the prudent decision. If you can't go to Canada, why 41 00:02:12,480 --> 00:02:15,720 Speaker 1: would you possibly want to go halfway around the world 42 00:02:15,760 --> 00:02:20,120 Speaker 1: to Beijing. So now the problem arises. Uh. There, the 43 00:02:20,280 --> 00:02:22,440 Speaker 1: league was going to hit the pause button February six 44 00:02:22,480 --> 00:02:25,040 Speaker 1: to February twenty. Now they can use that time to 45 00:02:25,120 --> 00:02:27,320 Speaker 1: make up the games, and there's been a fifty games 46 00:02:27,320 --> 00:02:30,520 Speaker 1: I think already postponed. The problem is many of the 47 00:02:30,560 --> 00:02:33,880 Speaker 1: arenas around the country have already booked events, but many 48 00:02:33,919 --> 00:02:39,480 Speaker 1: of those nights Disney on ice, wrestling, rodeo, concerts, you 49 00:02:39,600 --> 00:02:41,519 Speaker 1: name it. So now you've got to find You've gotta 50 00:02:41,520 --> 00:02:43,079 Speaker 1: be able to pick and choose some of these nights 51 00:02:43,080 --> 00:02:47,680 Speaker 1: where the arenas are available and you know, cell tickets, 52 00:02:47,680 --> 00:02:50,760 Speaker 1: get people in and get people out, and try to 53 00:02:50,800 --> 00:02:52,880 Speaker 1: get this as many of the games made up during 54 00:02:52,919 --> 00:02:54,919 Speaker 1: that window as possible. It's gonna be a tough couple 55 00:02:54,919 --> 00:02:58,080 Speaker 1: of weeks for the schedulers of these arenas. It is. Uh. 56 00:02:58,600 --> 00:03:01,679 Speaker 1: For instance, in Massachusetts, the second week in February is 57 00:03:01,680 --> 00:03:04,240 Speaker 1: always school vacation week, so Disney on Ice is a 58 00:03:04,240 --> 00:03:06,440 Speaker 1: big event in the in the garden here and that 59 00:03:06,480 --> 00:03:08,440 Speaker 1: they have a couple of shows daily and that's backed 60 00:03:08,440 --> 00:03:11,480 Speaker 1: with kids and moms and dads and aunts and uncles 61 00:03:11,480 --> 00:03:14,360 Speaker 1: and brothers and sisters, and so now they're gonna have 62 00:03:14,360 --> 00:03:16,400 Speaker 1: to get around that. So the Boston Ruins, like many 63 00:03:16,440 --> 00:03:19,000 Speaker 1: teams around the country, are gonna try to be try 64 00:03:19,040 --> 00:03:21,200 Speaker 1: to pluck a cockey game in here, a hockey game 65 00:03:21,240 --> 00:03:22,800 Speaker 1: in there. One of the problems is that they have 66 00:03:22,880 --> 00:03:27,880 Speaker 1: concerts in those facilities. They have melted the ice, you know, 67 00:03:27,919 --> 00:03:30,960 Speaker 1: for for those three weeks now you can't have a 68 00:03:31,000 --> 00:03:33,079 Speaker 1: concert where you can you can lay the boards down 69 00:03:33,080 --> 00:03:34,720 Speaker 1: like you do in a basketball game. But there's a 70 00:03:34,720 --> 00:03:37,080 Speaker 1: lot of logistical issues that that that can be going 71 00:03:37,080 --> 00:03:38,800 Speaker 1: on here at a time when a lot of people 72 00:03:38,840 --> 00:03:41,160 Speaker 1: are testing positive. So you wonder whether a lot of 73 00:03:41,200 --> 00:03:44,320 Speaker 1: the arenas have the staff available to do a lot 74 00:03:44,320 --> 00:03:46,480 Speaker 1: of the work here. There's gonna be a lot of 75 00:03:46,520 --> 00:03:50,920 Speaker 1: games at Fred's Roadhouse because I don't see how they 76 00:03:50,920 --> 00:03:53,720 Speaker 1: can do it with the scheduling, and especially what lench 77 00:03:53,760 --> 00:03:56,560 Speaker 1: you what you just said is that they've melted the ice. 78 00:03:56,720 --> 00:04:01,240 Speaker 1: So how are you gonna and quite frankly, going to 79 00:04:01,320 --> 00:04:05,800 Speaker 1: a concert and you you get a little rowdy some 80 00:04:05,880 --> 00:04:09,480 Speaker 1: people and you know that there's ice underneath there. Some 81 00:04:09,520 --> 00:04:12,320 Speaker 1: people might get a little mischievous. I just worry about 82 00:04:12,480 --> 00:04:15,240 Speaker 1: maybe they moved the games to Marlborough, Massachusetts, where they've 83 00:04:15,280 --> 00:04:18,240 Speaker 1: basically made you know, youth hockey tournaments their main business. 84 00:04:20,800 --> 00:04:24,920 Speaker 1: By the way, speaking of canceling games the NBA, I 85 00:04:24,960 --> 00:04:29,240 Speaker 1: want to bring that up right quick. Adam Silver, Commissioner said, no, 86 00:04:29,480 --> 00:04:32,080 Speaker 1: we're not going to cancel any games. Uh, We're gonna 87 00:04:32,160 --> 00:04:35,240 Speaker 1: keep ongoing. Uh. And it's gonna be interesting to see. 88 00:04:35,360 --> 00:04:37,200 Speaker 1: I I want to see how the season is going 89 00:04:37,279 --> 00:04:39,760 Speaker 1: to play out with that scar. Yeah, you really wonder 90 00:04:39,839 --> 00:04:42,000 Speaker 1: because a lot of the teams, of course, are losing 91 00:04:42,080 --> 00:04:46,480 Speaker 1: players to um positive tests on COVID, and we've started 92 00:04:46,480 --> 00:04:49,600 Speaker 1: to see some teams have take on these hardship signings 93 00:04:49,680 --> 00:04:53,160 Speaker 1: right where they are allowed to sign players for short 94 00:04:53,240 --> 00:04:55,960 Speaker 1: term contracts ten day contracts like Joe Johnson for the 95 00:04:55,960 --> 00:05:00,479 Speaker 1: Celtics without endangering their salary cap. It's going to be 96 00:05:00,520 --> 00:05:03,360 Speaker 1: interesting to see whether these players like Joe Johnson will 97 00:05:03,400 --> 00:05:07,599 Speaker 1: actually play. My my understanding, Mike Lynch is that Joe 98 00:05:07,640 --> 00:05:10,000 Speaker 1: Johnson is more a mentor to the younger players on 99 00:05:10,040 --> 00:05:12,719 Speaker 1: the roster rather than actually getting some time on the court. 100 00:05:13,520 --> 00:05:16,320 Speaker 1: Well he uh, he actually got into a game against 101 00:05:16,320 --> 00:05:19,880 Speaker 1: the Cleveland Cavaliers last night, and uh, it was it 102 00:05:19,920 --> 00:05:22,280 Speaker 1: was kind of kind of surreal, is what he told 103 00:05:22,400 --> 00:05:24,920 Speaker 1: the people after the game. You know, he's forty years old. 104 00:05:24,920 --> 00:05:27,400 Speaker 1: He's the second ass so older player in the league. UM, 105 00:05:27,440 --> 00:05:29,479 Speaker 1: and he was drafted by the Celtics twenty years ago 106 00:05:29,480 --> 00:05:32,160 Speaker 1: in two thousand one, and here he is coming back, uh, 107 00:05:32,279 --> 00:05:34,520 Speaker 1: twenty years later and playing for the team. It's uh, 108 00:05:34,680 --> 00:05:37,839 Speaker 1: he's really called it amazing and in surreal. I don't 109 00:05:37,839 --> 00:05:39,880 Speaker 1: know if he'll be here long after the ten day 110 00:05:40,120 --> 00:05:42,840 Speaker 1: contract that he has signed, but it's it's something unique 111 00:05:42,880 --> 00:05:44,880 Speaker 1: and I know the people in Boston are pretty excited 112 00:05:44,880 --> 00:05:47,760 Speaker 1: to have him back. It is did you make an 113 00:05:47,839 --> 00:05:50,479 Speaker 1: n f T out of that? Here we go with 114 00:05:50,560 --> 00:05:56,039 Speaker 1: the n f T s man someone Well, Uh, NFL 115 00:05:56,320 --> 00:06:00,839 Speaker 1: they have instituted their COVID testing bout to see and 116 00:06:00,920 --> 00:06:05,240 Speaker 1: scarletand I'm not so sure if it's really going to 117 00:06:05,279 --> 00:06:07,479 Speaker 1: work or is it going to cause more problems. It 118 00:06:07,520 --> 00:06:10,200 Speaker 1: seems like it's designed so that they can continue playing 119 00:06:10,240 --> 00:06:15,760 Speaker 1: games right UM. Vaccinated asymptomatic players and team officials will 120 00:06:15,800 --> 00:06:18,480 Speaker 1: no longer have to undergo weekly tests. Instead, they will 121 00:06:18,520 --> 00:06:22,160 Speaker 1: be subject to what's called strategic targeted testing. What does 122 00:06:22,200 --> 00:06:24,520 Speaker 1: that mean, Mike Lynch, It kind of it sounds like 123 00:06:24,520 --> 00:06:26,200 Speaker 1: it can mean whatever you want it to mean. I 124 00:06:26,200 --> 00:06:28,320 Speaker 1: think it means that they're going to do whatever they 125 00:06:28,360 --> 00:06:30,320 Speaker 1: want to make sure the games are playing. But it 126 00:06:30,320 --> 00:06:33,040 Speaker 1: will be interesting. It seems like they're almost back, rather 127 00:06:33,040 --> 00:06:35,160 Speaker 1: than being more aggressive than being less aggressive. Now in 128 00:06:35,200 --> 00:06:37,920 Speaker 1: the testing, it's like an ignorance is bliss approach. You know, 129 00:06:38,040 --> 00:06:41,200 Speaker 1: if we don't know that you're positive, then you should play. 130 00:06:41,440 --> 00:06:44,200 Speaker 1: And if and when you are positive, then we'll do 131 00:06:44,240 --> 00:06:46,320 Speaker 1: something about it. But if you don't get you know, 132 00:06:46,360 --> 00:06:48,640 Speaker 1: there's a certain president who actually pursued that policy too. 133 00:06:48,960 --> 00:06:53,360 Speaker 1: It's Sergeant Schultz, right out of Hogan's Heroes. Nothing nothing, 134 00:06:53,600 --> 00:06:59,440 Speaker 1: I know nothing. Major League Baseball. When is this happen? 135 00:06:59,480 --> 00:07:04,000 Speaker 1: It's been a long time Major League payroll they've dropped. 136 00:07:04,040 --> 00:07:08,440 Speaker 1: They dropped four percent in UH compared to the league's 137 00:07:08,520 --> 00:07:13,400 Speaker 1: last full season UH and also the four point the 138 00:07:13,440 --> 00:07:16,400 Speaker 1: four point oh five billion dollars total was the lowest 139 00:07:16,520 --> 00:07:22,080 Speaker 1: in a fully completed year since It's interesting because the 140 00:07:22,120 --> 00:07:24,960 Speaker 1: falling payrolls have sparked this labor unrest, and you know, 141 00:07:25,040 --> 00:07:27,360 Speaker 1: we still haven't gotten any resolution out of that. There's 142 00:07:27,520 --> 00:07:31,640 Speaker 1: time before spring training begins, but it's it forms the 143 00:07:31,680 --> 00:07:34,120 Speaker 1: backdrop of what's going to be a pretty contentious couple 144 00:07:34,160 --> 00:07:37,000 Speaker 1: of weeks as the two sides, the the owners and 145 00:07:37,040 --> 00:07:39,760 Speaker 1: the players try to hammer out a deal that is 146 00:07:40,120 --> 00:07:43,120 Speaker 1: that accommodates both sides. You're right about that, and and 147 00:07:43,160 --> 00:07:45,119 Speaker 1: this is sort of just gone off the radar screen. 148 00:07:45,160 --> 00:07:47,400 Speaker 1: COVID has pushed everything off the radar screen. But remember 149 00:07:47,440 --> 00:07:50,000 Speaker 1: when the lockout happened, We're all biting our fingernails and 150 00:07:50,200 --> 00:07:53,040 Speaker 1: people said listen, and it's not really a serious time 151 00:07:53,080 --> 00:07:56,840 Speaker 1: until we get to about February one. Well, pretty soon 152 00:07:56,880 --> 00:07:58,880 Speaker 1: what February one is going to be coming down the 153 00:07:58,920 --> 00:08:01,480 Speaker 1: tracks at us and we're gonna be talking about this 154 00:08:01,520 --> 00:08:03,520 Speaker 1: and you know, could we you know, when all the 155 00:08:03,560 --> 00:08:06,320 Speaker 1: other teams are trying to make up games and squeeze 156 00:08:06,360 --> 00:08:09,840 Speaker 1: games in baseball, could be the one sport that uh 157 00:08:10,400 --> 00:08:14,440 Speaker 1: voluntarily are involuntarily through the lockout won't be playing games 158 00:08:14,960 --> 00:08:17,520 Speaker 1: and for you guys, playing at home. A bonus number 159 00:08:17,520 --> 00:08:20,560 Speaker 1: of the week the Los Angeles Dodgers, they had led 160 00:08:20,560 --> 00:08:25,600 Speaker 1: baseball for season with a two hundred sixty two million 161 00:08:25,760 --> 00:08:28,720 Speaker 1: dollar payroll. They paid a lot in luxury taxes, didn't 162 00:08:28,720 --> 00:08:33,320 Speaker 1: They over thirty two million in luxury tax. Today we 163 00:08:33,360 --> 00:08:36,200 Speaker 1: are speaking with Steve Young. He is the chairman of 164 00:08:36,240 --> 00:08:39,960 Speaker 1: the board of Integrity Marketing Group and oh yeah, he's 165 00:08:39,960 --> 00:08:43,760 Speaker 1: a Hall of Fame quarterback. Uh Steve Young, thank you 166 00:08:43,920 --> 00:08:46,240 Speaker 1: so much for joining us on this show. We really 167 00:08:46,240 --> 00:08:48,640 Speaker 1: do appreciate you. Bet my pleasure to be with you guys, 168 00:08:48,720 --> 00:08:52,960 Speaker 1: and uh, Money in sports. It's one of the reasons 169 00:08:52,960 --> 00:08:55,880 Speaker 1: why I enjoy being on Money and I count down 170 00:08:55,920 --> 00:08:57,840 Speaker 1: with the ESPN is to talk about some of the 171 00:08:57,880 --> 00:09:01,880 Speaker 1: more interesting aspects of the business of sports. And you know, 172 00:09:02,280 --> 00:09:05,880 Speaker 1: whether it's the negotiations with the referees because they should 173 00:09:05,880 --> 00:09:07,720 Speaker 1: they be partners on the field. There's all kinds of 174 00:09:07,760 --> 00:09:10,400 Speaker 1: cool questions. So this is a fund topic for me. Well, 175 00:09:10,440 --> 00:09:12,640 Speaker 1: thank you, and in fact we got to talk about 176 00:09:12,720 --> 00:09:16,319 Speaker 1: speaking of money. You're the chairman of the board of Integrity. 177 00:09:16,360 --> 00:09:20,320 Speaker 1: Can take us through what that is all about there. Yeah, 178 00:09:20,480 --> 00:09:23,199 Speaker 1: So I guess I should start with my own experience. 179 00:09:23,240 --> 00:09:26,960 Speaker 1: I I left the football two thousand and transitioned. I 180 00:09:27,000 --> 00:09:30,280 Speaker 1: had done some investing with and it also started a 181 00:09:30,320 --> 00:09:33,640 Speaker 1: business right towards the end of my career and didn't 182 00:09:33,640 --> 00:09:34,800 Speaker 1: I thought it would be a a lawyer. I went to 183 00:09:34,880 --> 00:09:37,880 Speaker 1: law school uh and got the opportunity to start a 184 00:09:37,960 --> 00:09:41,600 Speaker 1: privately from Sornson Capital out of the Sealt Lake City, Utah, 185 00:09:42,480 --> 00:09:45,120 Speaker 1: geographically regionally based kind of two and for two million 186 00:09:45,120 --> 00:09:47,679 Speaker 1: dollar fund. And that's how I got transitioned into privately. 187 00:09:47,720 --> 00:09:50,760 Speaker 1: I've never been in privately longer than I played and 188 00:09:50,920 --> 00:09:52,960 Speaker 1: uh so the second career is now the first career. 189 00:09:53,520 --> 00:09:55,960 Speaker 1: And started a business that's now called h g GC 190 00:09:56,080 --> 00:09:58,200 Speaker 1: in two thousands seven with three other partners and now 191 00:09:58,200 --> 00:10:01,240 Speaker 1: we're in our fourth funds. So part of our third fund. 192 00:10:02,040 --> 00:10:04,480 Speaker 1: About five or six years ago, we went and visited 193 00:10:05,160 --> 00:10:08,560 Speaker 1: uh an insurance marketing business that sits between the carriers 194 00:10:08,600 --> 00:10:11,680 Speaker 1: and the and the agents and kind of senior life 195 00:10:11,679 --> 00:10:16,720 Speaker 1: product products out of out of Nebraska. And we met 196 00:10:16,800 --> 00:10:20,040 Speaker 1: with them and they had they took thirty meetings of 197 00:10:20,160 --> 00:10:23,600 Speaker 1: private equally firms and we have a kind of a 198 00:10:23,640 --> 00:10:28,360 Speaker 1: partnership bent to how we approached the whole privately world 199 00:10:28,400 --> 00:10:31,640 Speaker 1: where we're a hundred percent partnership investors. We don't on 200 00:10:31,720 --> 00:10:33,280 Speaker 1: a hundred percent of anything. And so I think that 201 00:10:33,320 --> 00:10:36,600 Speaker 1: resonated with Brian and and Mike and Tom, and so 202 00:10:36,640 --> 00:10:40,920 Speaker 1: they chose us and uh, we started off on guys 203 00:10:40,960 --> 00:10:43,000 Speaker 1: shorten us up a little bit. But you know, so 204 00:10:43,160 --> 00:10:47,679 Speaker 1: through now five or six years, well actually almost seven, um, uh, 205 00:10:48,080 --> 00:10:51,520 Speaker 1: integrity has grown astronomically. I mean, how how many times 206 00:10:51,520 --> 00:10:57,440 Speaker 1: I'm gonna say and you know life fifty times? And 207 00:10:57,800 --> 00:10:59,840 Speaker 1: uh and it's been an amazing you know, they set 208 00:10:59,880 --> 00:11:02,920 Speaker 1: up shared services and help them set it up in Dallas, 209 00:11:03,240 --> 00:11:05,079 Speaker 1: that's where they're headquartered. And now it's one of the 210 00:11:05,120 --> 00:11:09,000 Speaker 1: biggest businesses in the in the country and the fastest growing. Um, 211 00:11:09,040 --> 00:11:11,720 Speaker 1: one of the fastest growing businesses. And so Bryan Adams, 212 00:11:11,720 --> 00:11:15,640 Speaker 1: who runs it, I've been in Shairman since the beginning. Uh. 213 00:11:15,679 --> 00:11:17,040 Speaker 1: It came to me and a couple of years ago 214 00:11:17,040 --> 00:11:19,440 Speaker 1: and said, you know, Steve, I I don't I want 215 00:11:19,440 --> 00:11:22,400 Speaker 1: to change how we look at kind of equity and business. 216 00:11:22,480 --> 00:11:26,520 Speaker 1: And I think the world needs equity ownership and employees. 217 00:11:26,559 --> 00:11:29,880 Speaker 1: Employee ownership is where we should be and it shouldn't 218 00:11:29,920 --> 00:11:33,160 Speaker 1: be something that's you know, you know, shows the maturity 219 00:11:33,160 --> 00:11:36,040 Speaker 1: of a business when it's finally owned by by the employees. 220 00:11:36,040 --> 00:11:37,880 Speaker 1: We should we start it that way. We should we 221 00:11:37,920 --> 00:11:40,920 Speaker 1: should make it happen. And I thought, and I look 222 00:11:41,000 --> 00:11:43,200 Speaker 1: back at my time in the NFL in the late 223 00:11:43,240 --> 00:11:46,880 Speaker 1: eighties and nineties when I played um owners and and 224 00:11:47,000 --> 00:11:50,839 Speaker 1: employees players were I remember, we went out, we went 225 00:11:50,840 --> 00:11:53,800 Speaker 1: on strike for free agency. I remember, I want to 226 00:11:53,800 --> 00:11:55,280 Speaker 1: say it as the owner of the New York Giants 227 00:11:55,320 --> 00:11:57,000 Speaker 1: out a quote where he said, I don't have the 228 00:11:57,040 --> 00:12:00,320 Speaker 1: players understand where the owners and there the chattel. Well, 229 00:12:00,480 --> 00:12:02,280 Speaker 1: they don't realize that. I've been to law school and 230 00:12:02,280 --> 00:12:04,880 Speaker 1: I know it chattelist. And that's not cool. That is 231 00:12:04,920 --> 00:12:07,600 Speaker 1: not cool at all. And but that's the way it was. 232 00:12:07,960 --> 00:12:11,400 Speaker 1: That's how it felt. It felt like there was this this, 233 00:12:11,400 --> 00:12:15,080 Speaker 1: this this canyon between and my owner, dy to Barbow 234 00:12:15,320 --> 00:12:18,480 Speaker 1: changed that single handedly when he looked at players as 235 00:12:18,679 --> 00:12:22,640 Speaker 1: as partners as owners. Uh and uh. And that's and 236 00:12:22,720 --> 00:12:25,400 Speaker 1: I think now and then the successive owners like Arthur 237 00:12:25,400 --> 00:12:28,040 Speaker 1: Blanket and Lanta and Robert Kraft, and there was a 238 00:12:28,080 --> 00:12:30,839 Speaker 1: whole generation of owners that saw that and realized that's 239 00:12:30,880 --> 00:12:33,320 Speaker 1: what I want. And so in the early two thousands, 240 00:12:33,320 --> 00:12:36,480 Speaker 1: the c b A finally was negotiating played between players 241 00:12:36,559 --> 00:12:41,640 Speaker 1: and owners, which created essentially profit sharing and and and 242 00:12:41,640 --> 00:12:44,280 Speaker 1: and more lack of a better way to say it, partnership. 243 00:12:45,040 --> 00:12:48,280 Speaker 1: And that partnership that now is you know, fundamental to 244 00:12:48,440 --> 00:12:51,720 Speaker 1: the NFL. Is to me, the single most important reason 245 00:12:51,760 --> 00:12:54,959 Speaker 1: why the NFL is thriving today. And and you can 246 00:12:54,960 --> 00:12:57,640 Speaker 1: say a lot of other things, but that is the 247 00:12:57,679 --> 00:13:00,320 Speaker 1: main reason. And so when when Brian Adams asked me 248 00:13:00,360 --> 00:13:02,160 Speaker 1: and a couple of years ago, look, I want to 249 00:13:02,280 --> 00:13:04,520 Speaker 1: give equity to my employees, it just run a bell 250 00:13:04,600 --> 00:13:06,800 Speaker 1: with me. It's like, yes, we need to be in 251 00:13:06,840 --> 00:13:08,520 Speaker 1: fact that you know kind of system. Why do we 252 00:13:08,640 --> 00:13:11,240 Speaker 1: be thinking about how to do this better? Uh? And 253 00:13:11,280 --> 00:13:14,839 Speaker 1: it's hard for owners of business as their entrepreneurs. Uh, 254 00:13:15,160 --> 00:13:17,800 Speaker 1: you know, they've they've founders, they started it. I own 255 00:13:17,800 --> 00:13:19,480 Speaker 1: a hundred percent. It's fun to say I'm own a 256 00:13:19,520 --> 00:13:21,920 Speaker 1: hundred percent of my business, you know, and I started 257 00:13:21,920 --> 00:13:23,120 Speaker 1: it and that's the way it's gonna go. And I'm 258 00:13:23,160 --> 00:13:25,440 Speaker 1: gonna hand it to my kids and and and there's 259 00:13:25,480 --> 00:13:27,199 Speaker 1: has to be a there has to be a moment 260 00:13:27,240 --> 00:13:30,360 Speaker 1: like Brian Adams where you say I'm gonna I'm gonna 261 00:13:30,360 --> 00:13:32,720 Speaker 1: start giving it to employees. And it has to be 262 00:13:32,760 --> 00:13:34,440 Speaker 1: a shift. I want to I want employees to have 263 00:13:34,440 --> 00:13:36,160 Speaker 1: a seat at the table, just like the NFL had 264 00:13:36,160 --> 00:13:37,680 Speaker 1: to say the owners at the stake. We want the 265 00:13:37,679 --> 00:13:40,400 Speaker 1: players have seat at the table. And that's a that's 266 00:13:40,400 --> 00:13:43,120 Speaker 1: a shift and I was I I love the idea 267 00:13:43,120 --> 00:13:47,320 Speaker 1: of it. And so that was employees today, uh and 268 00:13:47,400 --> 00:13:49,880 Speaker 1: about half of them uh two years ago got started 269 00:13:49,880 --> 00:13:52,200 Speaker 1: in this employee program. Now we've grown so much, but 270 00:13:52,320 --> 00:13:54,880 Speaker 1: we just kind of put more equity in everyone's hands. 271 00:13:54,880 --> 00:13:58,240 Speaker 1: So people have equity in the business today. And those 272 00:13:58,280 --> 00:14:00,320 Speaker 1: people that started a couple of years ago, we just 273 00:14:00,320 --> 00:14:03,280 Speaker 1: did a deal with silver like Egon Durban, my neighbor 274 00:14:04,000 --> 00:14:08,520 Speaker 1: invested a huge valuation that that gave these employee owners 275 00:14:10,440 --> 00:14:14,120 Speaker 1: dollars of returns and they're still owners because now they're 276 00:14:14,160 --> 00:14:17,200 Speaker 1: in the equity and that's that's and so that the 277 00:14:17,320 --> 00:14:20,280 Speaker 1: spirit of what that's meant for this company and how 278 00:14:20,360 --> 00:14:23,720 Speaker 1: they You can imagine an employee that now is a 279 00:14:23,800 --> 00:14:27,680 Speaker 1: builder of the business. I own this business. There's a responsibility, 280 00:14:27,720 --> 00:14:30,920 Speaker 1: there's a there's a there's a spirit to it that's 281 00:14:30,960 --> 00:14:33,800 Speaker 1: really unique and I I it's been a great experience 282 00:14:33,840 --> 00:14:35,640 Speaker 1: for me. It's the first time that I've really kind 283 00:14:35,640 --> 00:14:38,360 Speaker 1: of done that. Thanks to Brian and I think we 284 00:14:38,400 --> 00:14:40,680 Speaker 1: ought to do this. I think that's probably why we've 285 00:14:40,760 --> 00:14:43,080 Speaker 1: kind of reached out on this event is not to 286 00:14:43,160 --> 00:14:45,520 Speaker 1: kind of pat ourselves on the back, but to say, 287 00:14:45,560 --> 00:14:47,840 Speaker 1: you know what, this is a great model. We should 288 00:14:47,840 --> 00:14:51,040 Speaker 1: be doing this people. Let's let's get on this this bandwagon. 289 00:14:51,080 --> 00:14:52,840 Speaker 1: It's a great way to do business. And I think 290 00:14:52,880 --> 00:14:55,920 Speaker 1: that today's workforce. I'm sorry I talked so much, but 291 00:14:56,640 --> 00:14:59,240 Speaker 1: you're explaining about it, and we can tell. Do you 292 00:14:59,240 --> 00:15:01,680 Speaker 1: think this model would work in the NFL? I mean, 293 00:15:01,920 --> 00:15:05,880 Speaker 1: could football teams be also owned by employees as well? 294 00:15:05,920 --> 00:15:10,080 Speaker 1: Are they better run as family held investments and family 295 00:15:10,080 --> 00:15:13,120 Speaker 1: owned entities or or publicly traded entities like the Green 296 00:15:13,120 --> 00:15:15,760 Speaker 1: Bay Packers. Well, we can have we can have a 297 00:15:15,760 --> 00:15:20,560 Speaker 1: long conversation about multigenerational ownership. And now that has its 298 00:15:20,560 --> 00:15:25,760 Speaker 1: own rigor that uh that not not only not always works, 299 00:15:26,120 --> 00:15:28,920 Speaker 1: but I think the idea would be that you would 300 00:15:28,920 --> 00:15:31,520 Speaker 1: start to build that that equity ownership, and it wouldn't 301 00:15:31,520 --> 00:15:34,040 Speaker 1: that be interesting? And look for for the NFL when 302 00:15:34,080 --> 00:15:37,240 Speaker 1: a four or five billion dollar enterprise, Um, you don't 303 00:15:37,240 --> 00:15:38,880 Speaker 1: have to be giving away And I never I didn't 304 00:15:38,880 --> 00:15:40,640 Speaker 1: think about it that way. I thought a partnership is 305 00:15:40,920 --> 00:15:44,040 Speaker 1: kind of profit sharing as what was the cb A 306 00:15:44,120 --> 00:15:46,840 Speaker 1: did So I you're going further than I was even 307 00:15:46,880 --> 00:15:50,520 Speaker 1: thinking about, which I just metaphor well, not only that, 308 00:15:50,560 --> 00:15:53,000 Speaker 1: what I would extend. It's like a guy like Aaron Rodgers, right, 309 00:15:53,120 --> 00:15:56,000 Speaker 1: he's a green Bay Packers publicly held entity. I am. 310 00:15:56,040 --> 00:15:58,120 Speaker 1: I'm a shareholder of the green Bay Packers. By the way, 311 00:15:58,120 --> 00:16:01,600 Speaker 1: someone someone in my family, as a joke Christmas, gave 312 00:16:01,640 --> 00:16:03,440 Speaker 1: me a share of the Packers. Like, oh, no, you're 313 00:16:03,440 --> 00:16:06,840 Speaker 1: an NFL owner. But but but if you think about 314 00:16:06,840 --> 00:16:08,760 Speaker 1: Aaron Rodgers, and he's going to have three or four 315 00:16:08,800 --> 00:16:11,400 Speaker 1: more years of really obviously pretty productive stuff. Is the 316 00:16:11,560 --> 00:16:15,480 Speaker 1: MVP every year? Why are we having discord? Why is 317 00:16:15,520 --> 00:16:18,200 Speaker 1: there any sense that Aaron Rodgers is unhappy in Green Bay? 318 00:16:18,480 --> 00:16:21,440 Speaker 1: He should be. He should be in the room where 319 00:16:21,440 --> 00:16:24,200 Speaker 1: it happens. He should be in personnel. They should figure 320 00:16:24,200 --> 00:16:25,880 Speaker 1: out a way to make sure that he, you know, 321 00:16:25,920 --> 00:16:28,480 Speaker 1: has a management position. He should be thought of as 322 00:16:28,520 --> 00:16:31,160 Speaker 1: an equity owner. We should start to think about not 323 00:16:31,160 --> 00:16:33,240 Speaker 1: not just Aaron, but every player. But I mean your 324 00:16:33,280 --> 00:16:36,720 Speaker 1: your question, scarlets are really good one, but for for retention, 325 00:16:37,320 --> 00:16:39,200 Speaker 1: for you know, Aaron Rodgers wants out of green Bay. 326 00:16:39,240 --> 00:16:41,560 Speaker 1: We heard last year I want I want out? And 327 00:16:42,040 --> 00:16:46,080 Speaker 1: what like, No, I'm a green Bay Packer. No, there's 328 00:16:46,080 --> 00:16:47,800 Speaker 1: gotta be a deal that we can cut. And when 329 00:16:47,800 --> 00:16:49,480 Speaker 1: when you talk about equity, we talked about a seat 330 00:16:49,520 --> 00:16:51,400 Speaker 1: at the table, you talk about, you know, seat in 331 00:16:51,440 --> 00:16:53,880 Speaker 1: the room where it happens in personnel. That's what Aaron 332 00:16:53,960 --> 00:16:56,760 Speaker 1: Rodgers wants. Why in the world would you not consider that? 333 00:16:56,800 --> 00:16:59,680 Speaker 1: And so your question scarlets not provocative. I think it's 334 00:16:59,680 --> 00:17:02,200 Speaker 1: an seen one because if everyone who ever played for 335 00:17:02,240 --> 00:17:05,040 Speaker 1: the forty Niners, for example, had a piece of the team, 336 00:17:05,119 --> 00:17:08,840 Speaker 1: let's say it's small, but a piece, I think that's 337 00:17:08,840 --> 00:17:10,760 Speaker 1: the heck of a thought. I think that's the spirit 338 00:17:10,760 --> 00:17:12,480 Speaker 1: of what we're I guess that's the spirit of what 339 00:17:12,480 --> 00:17:15,720 Speaker 1: we're talking about here, Steve, so Tom. But the Patriots 340 00:17:15,800 --> 00:17:18,360 Speaker 1: had that model like you have withold Tom Brady still 341 00:17:18,359 --> 00:17:22,840 Speaker 1: be a member of the New England Paper, of course. 342 00:17:23,080 --> 00:17:29,480 Speaker 1: But but again it's it's relationships are living, breathing things, 343 00:17:29,720 --> 00:17:32,600 Speaker 1: and the longer you you know, you have to renew 344 00:17:32,680 --> 00:17:35,679 Speaker 1: them constant. Like any marriage, you have to renew it 345 00:17:36,119 --> 00:17:40,320 Speaker 1: all the time because otherwise it does go stale. And 346 00:17:40,400 --> 00:17:44,240 Speaker 1: you I remember, I remember the forty Niners. We were 347 00:17:44,280 --> 00:17:47,359 Speaker 1: talking about Ricky Waters and and oh he's you know, 348 00:17:47,400 --> 00:17:49,399 Speaker 1: he's a great running back that we had, and we 349 00:17:49,520 --> 00:17:53,000 Speaker 1: let him go to the Philadelphia Eagles because um, you know, 350 00:17:53,119 --> 00:17:58,679 Speaker 1: oh he's he's too chattering, he's irritating personality, Like, well, no, 351 00:17:58,800 --> 00:18:00,880 Speaker 1: Ricky Water is a great play here, why are we 352 00:18:01,280 --> 00:18:03,879 Speaker 1: because we allowed ourselves to do what what you're just 353 00:18:03,920 --> 00:18:07,640 Speaker 1: describing what happened in in in uh In, in Boston 354 00:18:07,640 --> 00:18:11,040 Speaker 1: and New England was that you're you're too close to it. 355 00:18:11,640 --> 00:18:14,840 Speaker 1: You're you're, you're, you're, you're, you're focused on the wrong things. 356 00:18:15,000 --> 00:18:18,320 Speaker 1: You're focused on, not the relationship, you're you're it's the 357 00:18:18,400 --> 00:18:22,240 Speaker 1: hubrists that gets involved in long term, especially successful relationships. 358 00:18:22,240 --> 00:18:24,119 Speaker 1: And one of the worst thing we ever did was 359 00:18:24,200 --> 00:18:26,400 Speaker 1: let Ricky Waters go from the forty Niners. That cost 360 00:18:26,480 --> 00:18:28,280 Speaker 1: us and I think that probably that anyone in New 361 00:18:28,320 --> 00:18:30,720 Speaker 1: England and especially Patriots, say, what's the worst thing we 362 00:18:30,760 --> 00:18:34,000 Speaker 1: ever did? We let Tom Brady go? What There was 363 00:18:34,040 --> 00:18:36,680 Speaker 1: no question that that was something that could have been 364 00:18:36,840 --> 00:18:39,880 Speaker 1: healed and dealt with. But it's just it's hard when 365 00:18:39,880 --> 00:18:41,840 Speaker 1: you've been together a long time and the relationships are 366 00:18:42,520 --> 00:18:45,080 Speaker 1: so tender, and you know it's typical, right, it's not 367 00:18:45,200 --> 00:18:48,320 Speaker 1: unheard of that happened, But you asked the question. Of course, 368 00:18:48,440 --> 00:18:50,960 Speaker 1: that would have been different. We've got to talk about 369 00:18:51,000 --> 00:18:55,320 Speaker 1: your career because I mean, man, my wife who is 370 00:18:55,359 --> 00:18:59,919 Speaker 1: a die hard forty Niners fan, and I'm a Detroit 371 00:19:00,080 --> 00:19:03,439 Speaker 1: Lions fans, so you know how life is in my house. 372 00:19:03,800 --> 00:19:06,560 Speaker 1: You know, it's usually starts with the conversation. So how 373 00:19:06,600 --> 00:19:09,800 Speaker 1: many Super Bowls have you won? Honey? And I'm like, 374 00:19:10,359 --> 00:19:13,240 Speaker 1: you know, okay, I'll just eat my pizza. And but 375 00:19:13,480 --> 00:19:18,320 Speaker 1: you guys have cleaned up and you were part, uh 376 00:19:18,640 --> 00:19:21,840 Speaker 1: what I believe, honestly, one of the greatest organizations in 377 00:19:22,320 --> 00:19:26,800 Speaker 1: pro sports. I don't oh, I'm sorry, Mr Patriot, I 378 00:19:26,840 --> 00:19:31,520 Speaker 1: said one of what was it like during your days 379 00:19:32,440 --> 00:19:34,720 Speaker 1: as a forty night that's what you're most known for. 380 00:19:34,840 --> 00:19:37,720 Speaker 1: You played for three teams. Thank you, And I can 381 00:19:37,760 --> 00:19:40,600 Speaker 1: tell you that the question around generational ownership probably the 382 00:19:41,800 --> 00:19:44,920 Speaker 1: biggest point you. I joked for years that the Lions 383 00:19:44,960 --> 00:19:52,800 Speaker 1: need to be relegated, but you know that, uh just 384 00:19:53,000 --> 00:19:59,080 Speaker 1: back soccer. But I think you go to you go 385 00:19:59,119 --> 00:20:01,760 Speaker 1: to organizational behavior, and you go those things that are 386 00:20:01,920 --> 00:20:04,280 Speaker 1: kind of obvious today to a lot of people, but 387 00:20:04,400 --> 00:20:08,000 Speaker 1: in in nineteen eighty when Bill Walsh took over, football 388 00:20:08,040 --> 00:20:10,240 Speaker 1: was archaic. They used to take you into the desert, 389 00:20:10,880 --> 00:20:12,440 Speaker 1: not give you water because they thought you got in 390 00:20:12,520 --> 00:20:15,439 Speaker 1: better shape. The idea, this idea of partnership was not 391 00:20:15,560 --> 00:20:17,440 Speaker 1: heard of. And I gotta give the Walsh a lot 392 00:20:17,440 --> 00:20:20,520 Speaker 1: of credit because he saw players as partners as well, 393 00:20:20,560 --> 00:20:23,040 Speaker 1: and so he used to talk about its first, you know, 394 00:20:23,280 --> 00:20:25,720 Speaker 1: meeting in the in the summer at the training camp. 395 00:20:26,080 --> 00:20:27,440 Speaker 1: He would stand up in front of the team and 396 00:20:27,440 --> 00:20:29,800 Speaker 1: he said, look, we'll get we gotta get integrated. And 397 00:20:29,880 --> 00:20:32,760 Speaker 1: so at that time in eight when I joined the team, 398 00:20:32,760 --> 00:20:35,240 Speaker 1: I thought of race, right, black guys and white guys 399 00:20:35,280 --> 00:20:36,879 Speaker 1: in the school, we're gonna integrated. And he said, but 400 00:20:36,880 --> 00:20:39,840 Speaker 1: it's much deeper than that. It's all the things that 401 00:20:39,920 --> 00:20:43,439 Speaker 1: separate us. It's where where are you from, what school 402 00:20:43,480 --> 00:20:49,760 Speaker 1: you went to, socio economic background, geography, religion, uh language, 403 00:20:50,560 --> 00:20:53,200 Speaker 1: what position you play. You know, we're going to break 404 00:20:53,240 --> 00:20:56,480 Speaker 1: them all down because the more shared common experiences that 405 00:20:56,520 --> 00:20:59,080 Speaker 1: we have as a team, the more that we can 406 00:20:59,200 --> 00:21:02,320 Speaker 1: develop what he called love for each other. I remember 407 00:21:02,359 --> 00:21:04,080 Speaker 1: what he said. He goes, you guys have got to 408 00:21:04,080 --> 00:21:06,520 Speaker 1: figure out how to love each other, and we all 409 00:21:06,600 --> 00:21:10,879 Speaker 1: chuck the biggles. Oh, but if you think about what 410 00:21:10,920 --> 00:21:13,359 Speaker 1: he's saying, because what he said is, you know, because 411 00:21:13,400 --> 00:21:16,240 Speaker 1: if we can integrate this team, then when it's you know, 412 00:21:16,640 --> 00:21:21,199 Speaker 1: third and uh ten, down by four and lambeau Field 413 00:21:21,280 --> 00:21:26,040 Speaker 1: and the December and it's a sleeting rain and thirty degrees. 414 00:21:26,040 --> 00:21:27,960 Speaker 1: I don't know how it's still raining in twenty nine, 415 00:21:28,000 --> 00:21:30,800 Speaker 1: but it was so cold and you're just miserable at 416 00:21:30,840 --> 00:21:32,359 Speaker 1: that moment. I want you to look in the huddle 417 00:21:32,359 --> 00:21:34,960 Speaker 1: and I want you to see people that you having 418 00:21:35,200 --> 00:21:38,480 Speaker 1: having a relationship with, because I know if you do, 419 00:21:38,560 --> 00:21:41,199 Speaker 1: you will you will play better together. That was his 420 00:21:41,760 --> 00:21:45,080 Speaker 1: basic fundamental theory. And that's so obvious now but was 421 00:21:45,200 --> 00:21:48,119 Speaker 1: so revolutionary at the time. And uh and he used 422 00:21:48,160 --> 00:21:49,399 Speaker 1: to come to the locker room, I mean in the 423 00:21:49,520 --> 00:21:51,840 Speaker 1: lunch room to a day practice in the summer. You 424 00:21:51,880 --> 00:21:53,880 Speaker 1: have quarterbacks were all sitting together because we think we're 425 00:21:53,880 --> 00:21:55,919 Speaker 1: smarter and so we'll just hang out. He'd come in 426 00:21:55,920 --> 00:21:57,919 Speaker 1: and movie like out, you have to pick up your 427 00:21:57,960 --> 00:22:00,359 Speaker 1: tray and go sit with somebody else and go have 428 00:22:00,400 --> 00:22:02,840 Speaker 1: a conversation with someone that you never would have. And 429 00:22:02,920 --> 00:22:04,720 Speaker 1: you know, you can play on football teams and this 430 00:22:04,800 --> 00:22:07,400 Speaker 1: is true for any organization. You can play on football 431 00:22:07,440 --> 00:22:10,240 Speaker 1: teams for ten years. You know a name, you know 432 00:22:10,280 --> 00:22:11,639 Speaker 1: how to say high because it's on the back of 433 00:22:11,640 --> 00:22:14,600 Speaker 1: our jersey, right, but you don't really know them. And 434 00:22:14,640 --> 00:22:17,360 Speaker 1: so the idea that the forty Niners started this process 435 00:22:17,400 --> 00:22:20,560 Speaker 1: of you know, holistic, you know, the ability should talk 436 00:22:20,600 --> 00:22:23,400 Speaker 1: about how much let sleep you had, He's talked about 437 00:22:23,440 --> 00:22:26,000 Speaker 1: your nutrition was you know, never no one ever thought 438 00:22:26,000 --> 00:22:31,040 Speaker 1: about that, um, marriage, counseling, mental health stuff. That was 439 00:22:31,080 --> 00:22:33,520 Speaker 1: like revolutionary. And you want to say, well, why are 440 00:22:33,560 --> 00:22:37,840 Speaker 1: the forty Niners for eighteen years, nineteen years in the playoffs, 441 00:22:38,119 --> 00:22:42,480 Speaker 1: nineteen straight years and five super bowls, lost seven championship games. 442 00:22:42,480 --> 00:22:44,960 Speaker 1: We could have twelve super Bowls? But uh? And and 443 00:22:45,160 --> 00:22:49,439 Speaker 1: and why did uh? Robert Kraft one of the first 444 00:22:49,520 --> 00:22:51,439 Speaker 1: meetings and one of the first trips he took, and 445 00:22:51,480 --> 00:22:53,880 Speaker 1: he told me this, we've been friends for a long 446 00:22:53,920 --> 00:22:56,560 Speaker 1: time that when he when he bought the team and 447 00:22:56,600 --> 00:22:59,040 Speaker 1: the Patriots, was to go see Eddie de Barbelo and 448 00:22:59,080 --> 00:23:01,040 Speaker 1: how much that resident did with what he saw and 449 00:23:01,160 --> 00:23:03,680 Speaker 1: what he wanted to do so and talking about paying 450 00:23:03,680 --> 00:23:06,040 Speaker 1: it forward. From those early days, the forty Niners were 451 00:23:06,040 --> 00:23:08,280 Speaker 1: great for a long time and still probably have the 452 00:23:08,359 --> 00:23:10,639 Speaker 1: roots of that and why they're great today. And I 453 00:23:10,640 --> 00:23:12,480 Speaker 1: will tell you that as they travel around on Monday 454 00:23:12,560 --> 00:23:15,879 Speaker 1: night football every every Monday, I see the teams and 455 00:23:15,960 --> 00:23:18,960 Speaker 1: I can see the spirit of Bill Walsh and what 456 00:23:19,080 --> 00:23:21,520 Speaker 1: Eddie to Bartelow did now in almost every football team 457 00:23:21,680 --> 00:23:24,560 Speaker 1: because it's the right thing to do. And uh and 458 00:23:24,600 --> 00:23:27,080 Speaker 1: that's why you know forty n were great. People say, oh, 459 00:23:27,160 --> 00:23:29,480 Speaker 1: it's the plays they call the players right, Yes, it 460 00:23:29,560 --> 00:23:33,000 Speaker 1: all matters, but fundamentally it's the spirit of this kind 461 00:23:33,040 --> 00:23:36,760 Speaker 1: of holistic in the integration that when you're when under 462 00:23:36,760 --> 00:23:39,520 Speaker 1: pressure gets tested every time. And football teams that are 463 00:23:39,560 --> 00:23:42,280 Speaker 1: were better integrated have more love for each other. As 464 00:23:42,320 --> 00:23:44,720 Speaker 1: Bill Walls used to joke and not joke about, but 465 00:23:44,720 --> 00:23:47,119 Speaker 1: we used to joke around, it really does matter. And 466 00:23:47,160 --> 00:23:50,160 Speaker 1: I think we as we all now today see organization 467 00:23:50,240 --> 00:23:53,760 Speaker 1: behavior and go of course didn't say that. Yeah, it 468 00:23:53,760 --> 00:23:55,800 Speaker 1: makes perfect sense. It all comes back to the culture. 469 00:23:56,240 --> 00:24:00,239 Speaker 1: So on the question of culture and succession planning, you were, 470 00:24:00,240 --> 00:24:03,000 Speaker 1: of course famlessly associated with the transition from one of 471 00:24:03,040 --> 00:24:06,040 Speaker 1: the greatest quarterbacks of all time, Joe Montana. I wonder 472 00:24:06,080 --> 00:24:08,000 Speaker 1: if there are any lessons you carry to this day 473 00:24:08,000 --> 00:24:11,320 Speaker 1: about how that was handled or your conception of teamwork 474 00:24:11,359 --> 00:24:14,840 Speaker 1: and succession and what you expect to happen therefore in 475 00:24:14,840 --> 00:24:19,160 Speaker 1: the Jimmy Garoppolo trade lance transition. Now, yeah, very good question. 476 00:24:19,240 --> 00:24:21,760 Speaker 1: And there are there are some things that are similar 477 00:24:21,800 --> 00:24:24,120 Speaker 1: and some things that are really different. I would tell 478 00:24:24,119 --> 00:24:26,560 Speaker 1: you that people always feel like, well, you gotta name 479 00:24:26,600 --> 00:24:29,240 Speaker 1: of the starter, you gotta have they gotta have the king, 480 00:24:29,400 --> 00:24:32,199 Speaker 1: you gotta have the alpha. And and I grew up 481 00:24:32,200 --> 00:24:35,199 Speaker 1: in a system where it was kind of you know, 482 00:24:35,320 --> 00:24:39,119 Speaker 1: at at risk. And what I learned was that creative tension. 483 00:24:39,160 --> 00:24:43,000 Speaker 1: There's toxic tension and creative tension, and one is abundant 484 00:24:43,200 --> 00:24:45,679 Speaker 1: and amazing in drawing out the best in people, and 485 00:24:45,720 --> 00:24:49,400 Speaker 1: the other is terrible, abusive, and and and and needs 486 00:24:49,440 --> 00:24:52,119 Speaker 1: to be you know, stopped immediately. And there are not 487 00:24:52,400 --> 00:24:55,560 Speaker 1: huge barriers between the two. And so the challenge and 488 00:24:55,600 --> 00:24:57,520 Speaker 1: that we had, and I think that Joe and I 489 00:24:57,560 --> 00:25:00,399 Speaker 1: would probably despite the awkwardness of all the years that 490 00:25:00,400 --> 00:25:02,199 Speaker 1: we were together. We even did an a T and 491 00:25:02,200 --> 00:25:04,359 Speaker 1: T commercial recently where it was like, how awkward the 492 00:25:04,400 --> 00:25:08,680 Speaker 1: relationship was because we never argued, never had a cross word, 493 00:25:09,240 --> 00:25:12,280 Speaker 1: never in our whole life together. But it was always awkward, 494 00:25:12,760 --> 00:25:17,040 Speaker 1: It was never simple. It was always tense, I'll call it, 495 00:25:17,080 --> 00:25:19,199 Speaker 1: but it was creative in that way. It brought out 496 00:25:19,240 --> 00:25:20,840 Speaker 1: the best into both of us. It brought out the 497 00:25:20,880 --> 00:25:23,120 Speaker 1: best for the forty niners, and those are the ones 498 00:25:23,160 --> 00:25:24,880 Speaker 1: that I think are that that when you can find 499 00:25:24,880 --> 00:25:28,440 Speaker 1: those flourishing. You know, neither of us were toxic personalities. 500 00:25:28,600 --> 00:25:30,480 Speaker 1: We weren't going to be a problem. And so you 501 00:25:30,480 --> 00:25:32,040 Speaker 1: can have two guys who can throw them together and 502 00:25:32,080 --> 00:25:35,480 Speaker 1: actually can be productive, but also could be toxic, and 503 00:25:35,480 --> 00:25:37,400 Speaker 1: then you've got to be careful because I'm not gonna 504 00:25:37,400 --> 00:25:38,960 Speaker 1: say it always works out, but that's the way it 505 00:25:39,040 --> 00:25:41,720 Speaker 1: was for us and Jimmy Garoppolo and Trey Lance. It's 506 00:25:41,920 --> 00:25:45,280 Speaker 1: it's different because you know, the forty Anders said, we 507 00:25:45,320 --> 00:25:47,360 Speaker 1: don't like you, Jimmy, we want to go spend all 508 00:25:47,480 --> 00:25:52,840 Speaker 1: our draft capital on one guy because we don't want 509 00:25:52,880 --> 00:25:56,160 Speaker 1: you to be here. And then he comes in and 510 00:25:56,320 --> 00:25:58,920 Speaker 1: can't really take the place by storm. So Jimmy's gonna 511 00:25:58,960 --> 00:26:01,960 Speaker 1: keep playing and out. Jimmy's kee explaining better and better, 512 00:26:02,000 --> 00:26:03,760 Speaker 1: and in the locker room loves him, and so it's 513 00:26:03,840 --> 00:26:07,680 Speaker 1: very awkward again for different reasons. Super awkward right now 514 00:26:07,720 --> 00:26:12,000 Speaker 1: between Trey Lance and Jimmy Garoppolo. But both guys not 515 00:26:12,160 --> 00:26:15,160 Speaker 1: toxic personalities, and I think that you're going to see 516 00:26:15,200 --> 00:26:16,639 Speaker 1: the best come out of both of them. And I 517 00:26:16,680 --> 00:26:19,359 Speaker 1: think it's a very These are very positive places for 518 00:26:19,400 --> 00:26:22,080 Speaker 1: the team. It's awkward, it's a lot of chatter, and 519 00:26:22,080 --> 00:26:23,919 Speaker 1: then you know, media and we all talked about oh, 520 00:26:23,960 --> 00:26:26,640 Speaker 1: what's gonna what is right, what's wrong? But the net 521 00:26:26,680 --> 00:26:29,719 Speaker 1: reasold as it seems to be right now, is that 522 00:26:29,760 --> 00:26:32,720 Speaker 1: it's getting the best out of both of them. Steve, 523 00:26:32,800 --> 00:26:34,760 Speaker 1: I watched the video of you talking about a better 524 00:26:34,800 --> 00:26:38,000 Speaker 1: tool kit and you had it in and how does 525 00:26:38,040 --> 00:26:42,119 Speaker 1: that translate into the business world? Uh, well that was 526 00:26:42,160 --> 00:26:46,560 Speaker 1: really Bill Walsh another I mean, you talk about a 527 00:26:46,600 --> 00:26:52,320 Speaker 1: complex personality, but uh, you know a genius, uh man 528 00:26:52,560 --> 00:26:56,000 Speaker 1: ahead of his time. He took a toolkit. Was really 529 00:26:56,000 --> 00:27:00,480 Speaker 1: about a video, audio, and paper based toolkit, literally physical 530 00:27:00,480 --> 00:27:02,040 Speaker 1: tool kit they could wrap up in hand to his 531 00:27:02,080 --> 00:27:05,960 Speaker 1: assistant coaches of everything that he knit, offense, defense, speeches, 532 00:27:07,280 --> 00:27:10,439 Speaker 1: you know everything, tape video of him, you know walking, 533 00:27:10,520 --> 00:27:13,520 Speaker 1: you know they remember them videoing him for you know, 534 00:27:13,680 --> 00:27:15,760 Speaker 1: days and days and days as he went from practice 535 00:27:15,800 --> 00:27:19,240 Speaker 1: to the locker room to speeches, and uh, he wanted 536 00:27:19,240 --> 00:27:23,200 Speaker 1: his assistant coach especially as um minorities fitcheness and coaches 537 00:27:23,240 --> 00:27:25,680 Speaker 1: a chance to upper hand. And he handed out the 538 00:27:25,760 --> 00:27:29,359 Speaker 1: tool kit, and the toolkit was really about paying it forward. 539 00:27:30,119 --> 00:27:32,119 Speaker 1: And to me when you when you asked tool kid, 540 00:27:32,200 --> 00:27:35,440 Speaker 1: it's it's about in business, it's how can I pay 541 00:27:35,440 --> 00:27:38,159 Speaker 1: it forward? And I think that goes it's funny, but 542 00:27:38,480 --> 00:27:41,160 Speaker 1: connect back to the integrity story. But in some way 543 00:27:41,359 --> 00:27:43,679 Speaker 1: trying to find because all we do is partnership, we 544 00:27:43,760 --> 00:27:46,439 Speaker 1: have to have you know, fifteen years of private equity 545 00:27:46,440 --> 00:27:50,080 Speaker 1: and his Fun and for for Fun forty platforms, all 546 00:27:50,119 --> 00:27:53,639 Speaker 1: of them reference able partners. Does that mean that they 547 00:27:53,680 --> 00:27:55,920 Speaker 1: all went perfect? Does that mean that they all were 548 00:27:55,960 --> 00:27:59,080 Speaker 1: like smooth up to the right. No, but we've we've 549 00:27:59,080 --> 00:28:02,320 Speaker 1: fought for those partners ships and through tough times and 550 00:28:02,359 --> 00:28:04,240 Speaker 1: if you really need it, if that's how you're going 551 00:28:04,280 --> 00:28:06,440 Speaker 1: to live with it, I have to have a reference, 552 00:28:06,560 --> 00:28:08,680 Speaker 1: because that's not we have to We can't leave people 553 00:28:08,680 --> 00:28:10,879 Speaker 1: behind because we need you guys a reference. So we 554 00:28:10,960 --> 00:28:13,800 Speaker 1: have forced in many ways with a with a with 555 00:28:13,920 --> 00:28:16,199 Speaker 1: a you know, a toolkit, that we have to be 556 00:28:16,440 --> 00:28:19,840 Speaker 1: great partners. And that tool kit is to me, the 557 00:28:19,880 --> 00:28:23,120 Speaker 1: most profitable way. You know, people say, well, no, I'd 558 00:28:23,200 --> 00:28:25,400 Speaker 1: rather own a percent of Everybody get out of the way, 559 00:28:25,560 --> 00:28:27,840 Speaker 1: and I can do like many private LEA firms, I 560 00:28:27,880 --> 00:28:31,000 Speaker 1: can make way more money. Fine, I'm not going to 561 00:28:31,080 --> 00:28:33,760 Speaker 1: say that it's most profitable, and there's a lot of 562 00:28:33,760 --> 00:28:36,600 Speaker 1: ways to make money, but the most profitable, long term, 563 00:28:36,880 --> 00:28:39,040 Speaker 1: abundant way to think about it, I think it's this 564 00:28:39,120 --> 00:28:42,760 Speaker 1: toolkit of paying it forward. And I'm sorry, I'm not 565 00:28:42,800 --> 00:28:45,480 Speaker 1: going to let this one go. Mike Lynch and Steve 566 00:28:45,520 --> 00:28:49,400 Speaker 1: Young were talking off air and it was a great story. Lyncha, 567 00:28:49,480 --> 00:28:51,960 Speaker 1: you gotta tell it again. Well, I'll make it really quick. 568 00:28:52,040 --> 00:28:53,880 Speaker 1: I played. I was was a quarterback and a kicker 569 00:28:53,920 --> 00:28:56,800 Speaker 1: at Harvard and we were the defending IVOR League champions, 570 00:28:56,840 --> 00:28:59,120 Speaker 1: and we played in a rain storm. I kicked the 571 00:28:59,120 --> 00:29:01,280 Speaker 1: field goal to make it freed it too. In the 572 00:29:01,320 --> 00:29:04,280 Speaker 1: third quarter, Cornell had the ball in their own fifteen 573 00:29:04,320 --> 00:29:06,520 Speaker 1: yard line. They snapped it over the kicker's head. He 574 00:29:06,680 --> 00:29:09,160 Speaker 1: retrieved it nine yards deep in the end zone and 575 00:29:09,240 --> 00:29:11,840 Speaker 1: just ran a hundred nine yards for a touchdown. It 576 00:29:11,920 --> 00:29:14,480 Speaker 1: was the only game Cornell one that year. At the 577 00:29:14,560 --> 00:29:16,680 Speaker 1: end of the day, they fired their coach, whose name 578 00:29:16,720 --> 00:29:19,800 Speaker 1: was George Seyfort, and then he went to the coach's 579 00:29:19,800 --> 00:29:22,160 Speaker 1: convention in St. Louis, and Pete Carroll came in and 580 00:29:22,160 --> 00:29:23,520 Speaker 1: saw him at the bar and he said, I just 581 00:29:23,600 --> 00:29:26,800 Speaker 1: got fired from Cornell. I'll never get another coaching job again. 582 00:29:27,200 --> 00:29:29,280 Speaker 1: And he wound up being on the forty nine staff. 583 00:29:29,320 --> 00:29:33,600 Speaker 1: And when Walsh, Walsh left that he was two super 584 00:29:33,600 --> 00:29:36,040 Speaker 1: Bowl champions ships he coach for He was that right, Steve? 585 00:29:36,560 --> 00:29:40,479 Speaker 1: He did? He did so. Uh and um, you know 586 00:29:40,600 --> 00:29:42,680 Speaker 1: I said, Bill, Yeah, Bill won three and then George 587 00:29:42,680 --> 00:29:45,480 Speaker 1: one two. Yeah, that's right. And you made a trip 588 00:29:45,520 --> 00:29:48,920 Speaker 1: to Cornell. I understand the recruiting. My recruiting trip off. 589 00:29:49,880 --> 00:29:51,760 Speaker 1: One of my recruiting trips I took the five trips 590 00:29:52,920 --> 00:29:55,640 Speaker 1: was the Cornell and I've joked it, I've never been colder. 591 00:29:55,640 --> 00:29:57,320 Speaker 1: I don't know what value there, but that was the 592 00:29:57,320 --> 00:29:59,640 Speaker 1: coldest I've ever been in Cornell Valley. But Bob Blackman 593 00:29:59,680 --> 00:30:01,560 Speaker 1: was a co ch and I if they would have 594 00:30:01,600 --> 00:30:04,200 Speaker 1: given scholarships, I would have gone to Cornell. But the 595 00:30:04,240 --> 00:30:06,840 Speaker 1: Ivy League didn't give scholarships. Something that is like uh 596 00:30:07,200 --> 00:30:12,080 Speaker 1: free versus ten thousand dollars a year. I choose free. 597 00:30:12,120 --> 00:30:14,920 Speaker 1: So that was my big chance of being a Cornell quarterback. 598 00:30:15,040 --> 00:30:17,680 Speaker 1: I I would have gone Villabue League if if they 599 00:30:17,920 --> 00:30:20,360 Speaker 1: but they couldn't compete with a scholarship. But you and 600 00:30:20,400 --> 00:30:22,600 Speaker 1: I could have been a lums of the same school. 601 00:30:23,080 --> 00:30:25,560 Speaker 1: I'm so disappointed. Well, you were, you were recruited to 602 00:30:25,560 --> 00:30:27,280 Speaker 1: play at U n C, but you chose to play 603 00:30:27,480 --> 00:30:30,280 Speaker 1: for b y You obviously you were recruited at Cornell 604 00:30:30,320 --> 00:30:33,520 Speaker 1: as well. I'm just curious, how do you think B 605 00:30:33,800 --> 00:30:36,800 Speaker 1: y U students Steve Young would handle name, image and likeness. 606 00:30:38,760 --> 00:30:42,760 Speaker 1: It would be complex, I mean very early. You can imagine, 607 00:30:43,160 --> 00:30:45,200 Speaker 1: you know, you don't have five bucks for a pizza 608 00:30:45,240 --> 00:30:48,240 Speaker 1: as a student, and all of a sudden you're battling 609 00:30:48,360 --> 00:30:52,080 Speaker 1: for you know, thousands, if not tens of hundreds of 610 00:30:52,080 --> 00:30:54,719 Speaker 1: thousands of dollars and you're seeing other guys getting it, 611 00:30:55,200 --> 00:30:57,160 Speaker 1: and then flo you know, I mean, when at that 612 00:30:57,200 --> 00:30:59,400 Speaker 1: age you have no sense of what it's going to 613 00:30:59,440 --> 00:31:01,040 Speaker 1: be in the future or what is It's just mean, 614 00:31:01,080 --> 00:31:03,640 Speaker 1: I got dollars in my pocket today and so and 615 00:31:03,720 --> 00:31:07,440 Speaker 1: that's super cool. And then you got guys buying cars, 616 00:31:07,840 --> 00:31:09,840 Speaker 1: You've got guys with you know, lots of and then 617 00:31:09,880 --> 00:31:12,920 Speaker 1: I just it's a very complex situation. A lot of 618 00:31:12,960 --> 00:31:14,600 Speaker 1: colleges are trying to figure out how to make it 619 00:31:14,640 --> 00:31:17,120 Speaker 1: more egalitarian and kind of take the n I L 620 00:31:17,240 --> 00:31:20,160 Speaker 1: for the you know, for the team. Football is not 621 00:31:20,160 --> 00:31:22,160 Speaker 1: gonna work like like that. But I think some of 622 00:31:22,200 --> 00:31:24,520 Speaker 1: the best programs I've seen is when they'll do an 623 00:31:24,640 --> 00:31:27,280 Speaker 1: n IL for the whole women's volleyball team or the 624 00:31:27,600 --> 00:31:30,160 Speaker 1: events golf team or something like that and then kind 625 00:31:30,160 --> 00:31:32,720 Speaker 1: of share it because I think that's that's the hard 626 00:31:32,800 --> 00:31:35,680 Speaker 1: part is that when when somebody in football is making 627 00:31:35,880 --> 00:31:39,120 Speaker 1: lots of money run around campus and somebody is not, 628 00:31:39,400 --> 00:31:41,800 Speaker 1: it just makes it much more. It's just that it 629 00:31:41,920 --> 00:31:45,920 Speaker 1: adds complexity to an already tough situation. It can be 630 00:31:45,960 --> 00:31:50,280 Speaker 1: a locker room divider, can't That's a You've got to 631 00:31:50,320 --> 00:31:51,920 Speaker 1: be really on top of it as a coach. It's 632 00:31:51,920 --> 00:31:53,400 Speaker 1: got to be something that they spend a lot of 633 00:31:53,440 --> 00:31:56,400 Speaker 1: time trying to figure out because it can absolutely break 634 00:31:56,440 --> 00:32:00,640 Speaker 1: locker rooms or like anything that's complex, it can actually 635 00:32:00,960 --> 00:32:04,640 Speaker 1: develop some magic and do something really cool. So the 636 00:32:04,680 --> 00:32:07,560 Speaker 1: idea that we're putting money in people's pockets that they're 637 00:32:07,560 --> 00:32:10,320 Speaker 1: playing the game is you know, I'm not against it, 638 00:32:10,720 --> 00:32:14,760 Speaker 1: but I see it as an opportunity, but a complex opportunity. 639 00:32:15,080 --> 00:32:17,240 Speaker 1: You had a lot of pride when we started the 640 00:32:17,240 --> 00:32:19,640 Speaker 1: show and you were talking about your business, and it's 641 00:32:19,680 --> 00:32:23,600 Speaker 1: something that always kind of warms my heart because I 642 00:32:23,800 --> 00:32:27,280 Speaker 1: love any entrepreneur who's willing to put it out there, 643 00:32:27,360 --> 00:32:30,280 Speaker 1: whether it's what you're doing, or whether it's a guy 644 00:32:30,440 --> 00:32:35,480 Speaker 1: owning a pizzeria or whatever, it's that person that business 645 00:32:35,480 --> 00:32:38,560 Speaker 1: owner is saying this is mine, this is what I'm 646 00:32:38,640 --> 00:32:42,880 Speaker 1: trying to do, that spirit of entrepreneurship. Can you expand 647 00:32:42,920 --> 00:32:45,680 Speaker 1: more on that and what we were talking about. Yeah, 648 00:32:45,760 --> 00:32:48,960 Speaker 1: and I think that that's that's you know, saying what 649 00:32:49,040 --> 00:32:53,080 Speaker 1: makes America great innovation and the opportunity to do that. 650 00:32:53,320 --> 00:32:55,000 Speaker 1: You travel around the world, there's not a lot of 651 00:32:55,080 --> 00:32:59,280 Speaker 1: environments where that's encouraged or allowed or you know, or 652 00:32:59,680 --> 00:33:03,880 Speaker 1: or embraced, and so, uh, it's awesome and we need 653 00:33:03,920 --> 00:33:08,840 Speaker 1: to really guard it. Entrepreneurial innovative spirit is like very 654 00:33:08,880 --> 00:33:11,160 Speaker 1: important to you know. We can go into a long 655 00:33:11,240 --> 00:33:14,880 Speaker 1: geopolitical conversation around just like what makes what makes America 656 00:33:15,200 --> 00:33:17,400 Speaker 1: a great country? And you know, despite our f foibles, 657 00:33:17,440 --> 00:33:20,600 Speaker 1: despite our our mess ups, despite all of our flaws, 658 00:33:21,200 --> 00:33:23,000 Speaker 1: there's some things that really make it great. And this 659 00:33:23,080 --> 00:33:25,360 Speaker 1: is this is one of the main ones, so we 660 00:33:25,440 --> 00:33:27,160 Speaker 1: got to guard it. But I guess what we're talking 661 00:33:27,160 --> 00:33:29,880 Speaker 1: about today is I did this. I own it. I 662 00:33:30,640 --> 00:33:33,400 Speaker 1: clawed it out of it. I tell any any entrepreneur, 663 00:33:33,560 --> 00:33:36,320 Speaker 1: any founder, anybody that started the business, there's nothing harder. 664 00:33:36,920 --> 00:33:38,720 Speaker 1: And when they've done it, I think I just I 665 00:33:38,760 --> 00:33:40,920 Speaker 1: took my cap to them. And that's my business today 666 00:33:41,000 --> 00:33:42,760 Speaker 1: is getting to know these folks that are doing this, 667 00:33:42,800 --> 00:33:44,880 Speaker 1: men and women that are that have clawed it out 668 00:33:44,920 --> 00:33:48,080 Speaker 1: of nothing, and there's something amazing about it. But I 669 00:33:48,120 --> 00:33:51,920 Speaker 1: guess what I'm saying is that spirit of it's mine 670 00:33:51,960 --> 00:33:54,640 Speaker 1: and I did it needs to expand and kind of 671 00:33:54,680 --> 00:33:58,160 Speaker 1: take the approach of Bill Walsh like, yes, but I 672 00:33:58,200 --> 00:34:01,560 Speaker 1: can share it, I can it forward. I can figure 673 00:34:01,560 --> 00:34:04,360 Speaker 1: out ways to embrace it for other people who can 674 00:34:04,400 --> 00:34:07,640 Speaker 1: create an entrepreneurial spirit in their own way that might 675 00:34:07,640 --> 00:34:11,160 Speaker 1: not be literally, you know, starting a business, but starting 676 00:34:11,160 --> 00:34:13,279 Speaker 1: their own careers, and how I can give them. This 677 00:34:13,320 --> 00:34:15,200 Speaker 1: goes back this equity idea and what Brian did a 678 00:34:15,200 --> 00:34:18,200 Speaker 1: couple of years ago. It's really it's a flowering effect, 679 00:34:19,080 --> 00:34:22,000 Speaker 1: uh that even as I speak about it, I know 680 00:34:22,120 --> 00:34:23,960 Speaker 1: we've got to do a better job of this. It's 681 00:34:24,000 --> 00:34:28,200 Speaker 1: a great way to spread that sense of accomplishment. But 682 00:34:28,280 --> 00:34:30,960 Speaker 1: what happens for a lot of people who have started 683 00:34:31,000 --> 00:34:33,239 Speaker 1: things and clawed it out, They're like, look, I did this, 684 00:34:33,760 --> 00:34:36,640 Speaker 1: I went through the pain I had, I have the scars, 685 00:34:37,320 --> 00:34:39,479 Speaker 1: and you know, over my dead body, I'm gonna start 686 00:34:39,520 --> 00:34:42,480 Speaker 1: handing out equity. And that's that's the challenge that I 687 00:34:42,520 --> 00:34:45,279 Speaker 1: see us all have and how we have to kind 688 00:34:45,280 --> 00:34:48,040 Speaker 1: of think about paying it forward. And so that's the 689 00:34:48,360 --> 00:34:51,400 Speaker 1: that's an interesting you know socio uh you know, I 690 00:34:51,400 --> 00:34:55,920 Speaker 1: don't what is it like a um uh psychological uh 691 00:34:56,160 --> 00:34:57,719 Speaker 1: profile that you have to kind of work through to 692 00:34:57,760 --> 00:34:59,400 Speaker 1: try to figure out how to do that better? But 693 00:34:59,640 --> 00:35:01,560 Speaker 1: I get That's why I'm willing to come on and 694 00:35:01,600 --> 00:35:03,719 Speaker 1: talk about integrity because the last thing I want to 695 00:35:03,719 --> 00:35:05,640 Speaker 1: do is go look at us. We're really cool. Look 696 00:35:05,640 --> 00:35:08,920 Speaker 1: what we're doing. I really encourage Brand to do this 697 00:35:09,080 --> 00:35:11,640 Speaker 1: because I want people to hear the story. I want 698 00:35:11,640 --> 00:35:14,040 Speaker 1: it modeled, you know. I mean I want people to say, 699 00:35:14,080 --> 00:35:16,000 Speaker 1: you know what, I own a business and I can 700 00:35:16,040 --> 00:35:18,520 Speaker 1: start to figure that out. I think that's a great idea. 701 00:35:18,719 --> 00:35:21,799 Speaker 1: That's more more, I'm grateful for your platform to do 702 00:35:21,880 --> 00:35:24,200 Speaker 1: this because that's what I want to want to do 703 00:35:24,719 --> 00:35:26,960 Speaker 1: is to is to tell people about it, not to 704 00:35:26,960 --> 00:35:28,680 Speaker 1: pat ourselves on the back, but to show that it 705 00:35:28,760 --> 00:35:31,279 Speaker 1: might be something to think about for your own business. Yeah, 706 00:35:31,719 --> 00:35:34,719 Speaker 1: basically pointed out as the best practices for others to 707 00:35:34,960 --> 00:35:38,280 Speaker 1: perhaps be inspired by and come up with something similar 708 00:35:38,280 --> 00:35:40,880 Speaker 1: for their own organization. So so, given all that and 709 00:35:40,920 --> 00:35:44,840 Speaker 1: your thoughts on organizational management, do you think the NFL 710 00:35:44,920 --> 00:35:48,800 Speaker 1: could handle the task of making sure that all the 711 00:35:48,840 --> 00:35:53,040 Speaker 1: players are vaccinated and getting their boosters and following protocol 712 00:35:53,400 --> 00:35:55,279 Speaker 1: in a better way? How do they do that so 713 00:35:55,320 --> 00:35:57,880 Speaker 1: that they have to buy in from all the different players? 714 00:35:58,880 --> 00:36:03,600 Speaker 1: So it's hard. For years, the the NFLPA Players Association 715 00:36:04,239 --> 00:36:07,560 Speaker 1: was really a desparate kind of group because the NFL 716 00:36:08,000 --> 00:36:11,680 Speaker 1: naturally is a three you know, the average careers three years, 717 00:36:12,200 --> 00:36:16,480 Speaker 1: and you have fifteen guys trying to do it. And 718 00:36:16,560 --> 00:36:20,239 Speaker 1: because of that trans transitory nature, the Players Association never 719 00:36:20,239 --> 00:36:24,800 Speaker 1: could get a lot of you know, um momentum, I'll say, 720 00:36:24,880 --> 00:36:26,800 Speaker 1: because guys were like, look, I got three years, you 721 00:36:26,800 --> 00:36:28,400 Speaker 1: get paid, and I gotta go. So you want me 722 00:36:28,440 --> 00:36:30,839 Speaker 1: to you want me to share in the same kind 723 00:36:30,840 --> 00:36:32,640 Speaker 1: of spirit we just talked about. But over the years 724 00:36:33,280 --> 00:36:35,960 Speaker 1: it got better and better. And UH. And now the 725 00:36:35,960 --> 00:36:38,600 Speaker 1: Players Association is a pretty powerful group, not necessarily as 726 00:36:38,960 --> 00:36:42,800 Speaker 1: powerful as baseball or basketball, but holding their own and 727 00:36:42,800 --> 00:36:46,720 Speaker 1: and and part of this UH negotiation around players health 728 00:36:47,400 --> 00:36:49,680 Speaker 1: and member in football, your body really is at risk. 729 00:36:49,719 --> 00:36:52,759 Speaker 1: Basketball and baseball certainly at risk, but not nearly as much. 730 00:36:53,239 --> 00:36:56,120 Speaker 1: And so because the NFL p A faces such straight 731 00:36:56,360 --> 00:37:00,160 Speaker 1: strain over how to protect players, and the league's now 732 00:37:00,800 --> 00:37:03,040 Speaker 1: essentially become a partner in trying to make it safer. 733 00:37:03,120 --> 00:37:06,600 Speaker 1: Is you know within range that when it comes to 734 00:37:06,719 --> 00:37:09,600 Speaker 1: you gotta giving this background because it really feeds into 735 00:37:09,640 --> 00:37:13,480 Speaker 1: this conversation around vaccination. Everything else is because there's this 736 00:37:13,960 --> 00:37:18,920 Speaker 1: long standing kind of tension that the players need more protection, 737 00:37:19,239 --> 00:37:22,520 Speaker 1: they need more independence, they need more autonomy, they need 738 00:37:22,520 --> 00:37:24,680 Speaker 1: to they need to make their own way for for 739 00:37:24,760 --> 00:37:26,839 Speaker 1: their health and well being, they need more information, they 740 00:37:26,880 --> 00:37:30,600 Speaker 1: need more and so anything that's mandated for for an 741 00:37:30,680 --> 00:37:33,680 Speaker 1: NFL player is going to feel heavy. And so that's 742 00:37:33,719 --> 00:37:35,960 Speaker 1: the challenge that they have right now. So if you said, look, 743 00:37:35,960 --> 00:37:37,920 Speaker 1: we're gonna going to come down with a heavy hand, 744 00:37:37,960 --> 00:37:41,000 Speaker 1: little Player Association says, where we've seen that movie before, 745 00:37:41,040 --> 00:37:42,640 Speaker 1: we're not going to do that. And that's why you're 746 00:37:42,640 --> 00:37:45,160 Speaker 1: seeing the players Association kind of fight back and try 747 00:37:45,200 --> 00:37:49,319 Speaker 1: to find um more artful approach. Doesn't mean that the 748 00:37:49,360 --> 00:37:52,080 Speaker 1: net result is different, but it's how it's done. And 749 00:37:52,120 --> 00:37:54,320 Speaker 1: that's why I think the mandate probably in the nfls 750 00:37:54,360 --> 00:37:57,120 Speaker 1: were really really difficult. Just give you some background. Save 751 00:37:57,200 --> 00:37:58,960 Speaker 1: three weeks to go in the regular season, and we're 752 00:37:58,960 --> 00:38:03,640 Speaker 1: gonna make it there with out of forfeit. Uh Well, 753 00:38:03,680 --> 00:38:05,279 Speaker 1: if the league does what they just said they're going 754 00:38:05,320 --> 00:38:07,960 Speaker 1: to do and not test vaccinated players, then you know, 755 00:38:08,120 --> 00:38:11,319 Speaker 1: any symptomatic players. I think that's I think that's their 756 00:38:11,360 --> 00:38:13,560 Speaker 1: way of making sure they get there right, because if 757 00:38:13,560 --> 00:38:16,399 Speaker 1: somebody's somebody is positive but you don't know it, then 758 00:38:16,680 --> 00:38:18,919 Speaker 1: you can go play. And that's what I mean. When 759 00:38:18,920 --> 00:38:20,360 Speaker 1: we were in l a couple of weeks ago with 760 00:38:20,400 --> 00:38:21,840 Speaker 1: the L A. M. You know, we were in the 761 00:38:21,880 --> 00:38:25,200 Speaker 1: Arizona for the Cardinal Rams Monday night game. It was 762 00:38:25,239 --> 00:38:27,520 Speaker 1: a RAMS official. It was really frustrated because they lost 763 00:38:27,520 --> 00:38:30,080 Speaker 1: three or four star players right before the game. That 764 00:38:30,160 --> 00:38:32,880 Speaker 1: we're sitting there asymptomatic, just ready to go play football. 765 00:38:33,360 --> 00:38:35,160 Speaker 1: And I think that's been the you know, so I 766 00:38:35,400 --> 00:38:37,880 Speaker 1: obviously those voices have been pretty loud inside the NFL 767 00:38:37,960 --> 00:38:41,319 Speaker 1: to get this this done. I have no comment on 768 00:38:41,320 --> 00:38:43,120 Speaker 1: whether it's what's the right thing or the wrong thing, 769 00:38:43,120 --> 00:38:45,960 Speaker 1: because I'm not a I'm not an expert, but certainly 770 00:38:46,000 --> 00:38:50,520 Speaker 1: there they want asymptomatic players to play, and it seems 771 00:38:50,520 --> 00:38:52,640 Speaker 1: like that's what they're trying to get done for the playoffs, 772 00:38:52,640 --> 00:38:54,560 Speaker 1: because the last thing you want is a playoff game 773 00:38:54,560 --> 00:38:58,160 Speaker 1: where Tom Brady can't play, Aaron Rodgers can't play. You know, 774 00:38:58,360 --> 00:38:59,960 Speaker 1: then all of a sudden, you've got a playoff game, 775 00:39:00,320 --> 00:39:02,919 Speaker 1: a Super Bowl champion that's kind of an asterisk. That's 776 00:39:02,960 --> 00:39:05,879 Speaker 1: the that's the ultimate nightmare for the NFL, that they've 777 00:39:05,920 --> 00:39:08,719 Speaker 1: got a champion that's not a true champion. That's where 778 00:39:08,719 --> 00:39:11,359 Speaker 1: they got there there. But this one thing about the NFL, 779 00:39:11,400 --> 00:39:13,600 Speaker 1: they're going to play. Remember last year that Denver Broncos 780 00:39:13,640 --> 00:39:17,320 Speaker 1: didn't have a quarterback. A running back was playing quarterback. 781 00:39:17,400 --> 00:39:20,640 Speaker 1: They didn't care either. I argued, I didn't like that. 782 00:39:20,920 --> 00:39:23,320 Speaker 1: I thought they should have delayed or canceled it. And 783 00:39:23,480 --> 00:39:26,600 Speaker 1: you can't play football without a quarterback. But you know, 784 00:39:26,600 --> 00:39:32,600 Speaker 1: they proved that you could. Tom Maddie kick your way there. 785 00:39:34,680 --> 00:39:38,800 Speaker 1: Steve Young holy Derritos, we just talked with Steve Young, 786 00:39:39,960 --> 00:39:43,680 Speaker 1: chairman of the board of Integrity Marketing Group and Hall 787 00:39:43,800 --> 00:39:48,719 Speaker 1: of Fame quarterback many years with the Fortins. I am 788 00:39:49,080 --> 00:39:53,040 Speaker 1: just delighted to talk with you in Scarlett. I'm the 789 00:39:53,160 --> 00:39:55,080 Speaker 1: envy of my family right now because I'm married to 790 00:39:55,239 --> 00:39:58,839 Speaker 1: a family of diehard fans. So we'll tell him high 791 00:39:58,840 --> 00:40:02,279 Speaker 1: gimm a hug for me. I will too great to 792 00:40:02,320 --> 00:40:04,320 Speaker 1: be with you, and thanks for the thanks for the 793 00:40:04,440 --> 00:40:07,040 Speaker 1: opening to talk about this. I'm I'm you can see 794 00:40:07,080 --> 00:40:09,160 Speaker 1: I have some passion around it and I want to 795 00:40:09,160 --> 00:40:11,239 Speaker 1: pay it forward for Brian Adams having the idea to 796 00:40:11,239 --> 00:40:13,560 Speaker 1: do it. He's the guy that the CEO of Integrity 797 00:40:13,600 --> 00:40:16,160 Speaker 1: that did it. But I appreciate the platform to kind 798 00:40:16,160 --> 00:40:19,439 Speaker 1: of talk this out. Steve Young. My goodness, we could 799 00:40:19,440 --> 00:40:23,240 Speaker 1: have gone another hour with with Steve Young just listening. 800 00:40:24,560 --> 00:40:27,520 Speaker 1: We did, and you are exactly right. And and it's 801 00:40:27,680 --> 00:40:32,759 Speaker 1: I hear that pride when when he's talking about his 802 00:40:32,880 --> 00:40:37,439 Speaker 1: business and being an entrepreneur, and I just think that's 803 00:40:37,480 --> 00:40:42,200 Speaker 1: really special. And I salute anybody who does that because 804 00:40:42,440 --> 00:40:44,800 Speaker 1: I don't know one of I would have the brains 805 00:40:45,239 --> 00:40:48,640 Speaker 1: or the guts to do it. And and Steve Young 806 00:40:48,719 --> 00:40:51,600 Speaker 1: and many people out there in America. Do Scarlett my 807 00:40:51,680 --> 00:40:54,800 Speaker 1: hat to him. I feel like he should be a spokesperson, 808 00:40:54,960 --> 00:40:57,840 Speaker 1: or not even spokesperson, maybe an ambassador for private equity, 809 00:40:57,920 --> 00:41:01,239 Speaker 1: because looking at his non football biography, he's got a 810 00:41:01,239 --> 00:41:03,480 Speaker 1: lot of experience with private equity. He co founded this 811 00:41:03,520 --> 00:41:07,400 Speaker 1: middle market PE firm with John Huntsman, the former inbassador, 812 00:41:07,440 --> 00:41:10,480 Speaker 1: and Robert gay Um. One of the firm's investments is 813 00:41:10,560 --> 00:41:14,400 Speaker 1: Integrity Marketing, which he serves as chairman for, and Integrity 814 00:41:14,440 --> 00:41:16,440 Speaker 1: just got a one point two billion dollar investment from 815 00:41:16,480 --> 00:41:20,760 Speaker 1: another PE firm, Silver Lake, which is a tech focus firm. 816 00:41:20,800 --> 00:41:23,960 Speaker 1: There's a lot of misunderstanding about PE and how they 817 00:41:24,000 --> 00:41:27,920 Speaker 1: buy up companies and cut costs and fire workers. People 818 00:41:27,960 --> 00:41:29,800 Speaker 1: get a lot of things wrong about p ownership. I 819 00:41:29,800 --> 00:41:31,719 Speaker 1: feel like Steve Young would be the perfect person to 820 00:41:31,800 --> 00:41:35,080 Speaker 1: explain how this works and how it can work better 821 00:41:35,160 --> 00:41:38,120 Speaker 1: for employees. Not always, but often I'm looking for an 822 00:41:38,120 --> 00:41:41,520 Speaker 1: application to get a job with Integrity Marketing because earlier 823 00:41:41,520 --> 00:41:43,640 Speaker 1: this week they dished out a hundred and twenty five 824 00:41:43,680 --> 00:41:47,279 Speaker 1: million to fifty employees, ranging anywhere from eight thousands of 825 00:41:47,360 --> 00:41:51,240 Speaker 1: sixty dollars per employee based on their tenure, etcetera. Etcetera. 826 00:41:51,840 --> 00:41:54,160 Speaker 1: I think you know what, and that just goes along 827 00:41:54,200 --> 00:41:56,560 Speaker 1: with that that business model that you know, a happy 828 00:41:56,600 --> 00:42:00,920 Speaker 1: employee is a productive employee. Mike bloom are you are 829 00:42:00,960 --> 00:42:07,120 Speaker 1: you on the line listen? No, I really I think 830 00:42:07,160 --> 00:42:11,680 Speaker 1: that they're doing very well and I love his enthusiasm. 831 00:42:11,760 --> 00:42:17,080 Speaker 1: And we spent a lot of time thinking about this. Clearly, Roles, 832 00:42:17,239 --> 00:42:19,439 Speaker 1: you don't want to pick that. I'm not a germ kids. 833 00:42:19,480 --> 00:42:21,480 Speaker 1: Feels better to be number one than number five. I'll 834 00:42:21,520 --> 00:42:23,279 Speaker 1: wear a number because of Mike. We have a chance 835 00:42:23,320 --> 00:42:24,920 Speaker 1: to go for three in a row. Good numbers are 836 00:42:24,960 --> 00:42:27,000 Speaker 1: a good time. When I first started wearing that number, 837 00:42:27,040 --> 00:42:30,239 Speaker 1: how would just have them? Proud? Bloomberg Business of Sports, 838 00:42:30,280 --> 00:42:35,239 Speaker 1: the number of the week now, speaking of spending a 839 00:42:35,239 --> 00:42:37,520 Speaker 1: lot of time thinking about this, is there an all 840 00:42:37,560 --> 00:42:42,200 Speaker 1: week effort? Isn't it my number of the week now? 841 00:42:42,440 --> 00:42:45,400 Speaker 1: Of course, we just talked to Steve Young and of 842 00:42:45,440 --> 00:42:53,600 Speaker 1: course the Hall of Fame quarterback. How tall is he? Okay, 843 00:42:53,640 --> 00:42:57,799 Speaker 1: this is a good one, Scarlett. Um, I want to 844 00:42:57,800 --> 00:43:04,799 Speaker 1: say he is six three and I know he's the 845 00:43:04,800 --> 00:43:08,239 Speaker 1: only lefty quarterback in the Hall of Fame. Um, he's 846 00:43:08,280 --> 00:43:15,200 Speaker 1: not as big as as like a Tom Brady, Tom Brady, 847 00:43:14,239 --> 00:43:18,320 Speaker 1: six four, maybe six five. I'm gonna go six to 848 00:43:20,360 --> 00:43:26,160 Speaker 1: bar Well. I hate to tell you this on the nose, 849 00:43:26,680 --> 00:43:31,640 Speaker 1: six ft two inches full of lefty. That was the 850 00:43:31,640 --> 00:43:34,320 Speaker 1: closest I ever got. It was. I thought, I thought 851 00:43:35,440 --> 00:43:41,640 Speaker 1: if you would have just just it was, I thought 852 00:43:41,719 --> 00:43:44,520 Speaker 1: you had it. It is like I'm just a little 853 00:43:44,520 --> 00:43:49,400 Speaker 1: bit oh man, Lynch, congratulations again. So it doesn't have 854 00:43:49,440 --> 00:43:53,080 Speaker 1: to be about money. It can be any happy number. Yeah, 855 00:43:53,680 --> 00:43:56,200 Speaker 1: this is the Bloomberg Business of Sports show. We're here 856 00:43:56,280 --> 00:43:58,920 Speaker 1: each and every week at the same time, plus online 857 00:43:58,920 --> 00:44:01,520 Speaker 1: wherever you get your product. Yes, you can catch those Mondays, 858 00:44:01,880 --> 00:44:05,000 Speaker 1: Wednesdays and Thursdays. I'm Michael Barr on Twitter at bick 859 00:44:05,000 --> 00:44:08,240 Speaker 1: Bar Sports, and I'm Mike Lynch. Wishing everyone a happy 860 00:44:08,280 --> 00:44:10,799 Speaker 1: holiday and thanks so much for tuning in every week. 861 00:44:10,800 --> 00:44:13,320 Speaker 1: I'm Lynchy. You can follow me at Lynchy w CVB 862 00:44:13,640 --> 00:44:16,920 Speaker 1: and I'm on Twitter at Scarlett Food. See you all, Ino, 863 00:44:17,440 --> 00:44:20,560 Speaker 1: and thanks for joining us. Tune in again next week 864 00:44:20,600 --> 00:44:23,640 Speaker 1: for the latest on the stories moving big money in 865 00:44:23,719 --> 00:44:27,080 Speaker 1: the world of sports. You're listening to Bloomberg Business of 866 00:44:27,160 --> 00:44:29,640 Speaker 1: Sports from Bloomberg Radio around the world.