1 00:00:02,440 --> 00:00:09,639 Speaker 1: Bloomberg Audio Studios, Podcasts, radio News. This is Bloomberg Business 2 00:00:09,680 --> 00:00:10,280 Speaker 1: of Sports. 3 00:00:10,440 --> 00:00:13,239 Speaker 2: Business of Sports can be intimidating for hard for a 4 00:00:13,280 --> 00:00:14,240 Speaker 2: start to break into. 5 00:00:14,360 --> 00:00:17,319 Speaker 3: We really appreciate when our owners are actually there, you know, 6 00:00:17,400 --> 00:00:18,440 Speaker 3: with us through the journey. 7 00:00:18,560 --> 00:00:22,080 Speaker 4: Teams ours especially have been very intentional to diversify at 8 00:00:22,079 --> 00:00:23,079 Speaker 4: all levels of the company. 9 00:00:23,160 --> 00:00:25,560 Speaker 5: Maybe we're in the golden gears for the NFL and 10 00:00:25,680 --> 00:00:26,360 Speaker 5: college football. 11 00:00:26,440 --> 00:00:29,520 Speaker 3: Our demographic reach has continued to expande. 12 00:00:29,600 --> 00:00:33,199 Speaker 2: This is going to be really unlocking the streaming platform 13 00:00:33,280 --> 00:00:34,240 Speaker 2: for sports fans. 14 00:00:34,320 --> 00:00:36,760 Speaker 1: Sports evaluations are rising. We'll see when they peak. 15 00:00:36,840 --> 00:00:39,440 Speaker 6: You don't have to be the best in your sports 16 00:00:39,479 --> 00:00:42,360 Speaker 6: to make a whole ton of money. 17 00:00:42,400 --> 00:00:45,600 Speaker 7: Bloomberg Business of Sports from Bloomberg Radio. 18 00:00:47,880 --> 00:00:50,400 Speaker 5: This is the Bloomberg Business of Sports show, where we 19 00:00:50,479 --> 00:00:53,159 Speaker 5: explore the big money issues in the world of sports. 20 00:00:53,240 --> 00:00:56,320 Speaker 5: I'm Damian sas Hour, Michael barr is out this week, 21 00:00:56,360 --> 00:01:00,560 Speaker 5: and Scarlett fou is on assignment. But fear not because 22 00:01:00,640 --> 00:01:04,800 Speaker 5: on the lineup today, Business of Sports reporter Vanessa Perdomo 23 00:01:05,040 --> 00:01:08,199 Speaker 5: will be joining me to speak with four time NBA 24 00:01:08,360 --> 00:01:12,959 Speaker 5: Champion Hall of Famer Tony Parker, along with the president 25 00:01:13,000 --> 00:01:18,120 Speaker 5: of Alibaba dot Com Kuozang, the basketball point guard legend 26 00:01:18,200 --> 00:01:23,039 Speaker 5: turned entrepreneur, will front Alibaba dot COM's campaign Same Player, 27 00:01:23,160 --> 00:01:26,480 Speaker 5: New Game for the Summer Games in Paris. Will get 28 00:01:26,480 --> 00:01:29,920 Speaker 5: his take on his relationship with the e commerce giant, 29 00:01:30,440 --> 00:01:34,040 Speaker 5: the global balance of power in the NBA, and more. 30 00:01:34,240 --> 00:01:36,600 Speaker 6: I always prepare myself during my career. You know, I 31 00:01:36,640 --> 00:01:38,520 Speaker 6: had some great advice and one of the best ones 32 00:01:38,680 --> 00:01:41,399 Speaker 6: was Magic Johnson. You know, he told me, you know, 33 00:01:41,720 --> 00:01:45,240 Speaker 6: built your network. Why are you playing while you active? 34 00:01:45,360 --> 00:01:49,000 Speaker 6: Because if you wait, when you retire, people forget about 35 00:01:49,040 --> 00:01:50,040 Speaker 6: your real fast. 36 00:01:49,960 --> 00:01:53,640 Speaker 5: Plus a story of redemption with the fastest woman on 37 00:01:53,680 --> 00:01:57,880 Speaker 5: the planet, our Scarlett flu and Bloomberg News Romaine Bostik 38 00:01:57,960 --> 00:02:02,160 Speaker 5: sits down with former Olympic medallist Marion Jones on moving 39 00:02:02,200 --> 00:02:05,360 Speaker 5: on from scandal and how her imprisonment marked a new 40 00:02:05,360 --> 00:02:09,080 Speaker 5: beginning for her life and career. But first, Sony has 41 00:02:09,080 --> 00:02:13,200 Speaker 5: struck a deal to become the NFL's official technology and 42 00:02:13,320 --> 00:02:17,200 Speaker 5: headphones partner, in a multi year deal for the league. 43 00:02:17,480 --> 00:02:19,840 Speaker 5: For more on this, we're joined by none are than 44 00:02:19,880 --> 00:02:24,400 Speaker 5: Bloomberg US sports reporter Randall Williams. Randall, Welcome to the 45 00:02:24,440 --> 00:02:26,520 Speaker 5: Business of sports. I need to ask you this first 46 00:02:26,520 --> 00:02:29,840 Speaker 5: and foremost, it looks like Sony's done a deal with 47 00:02:29,960 --> 00:02:32,800 Speaker 5: the NFL on headsets. Talk to us a little bit 48 00:02:32,800 --> 00:02:33,120 Speaker 5: about that. 49 00:02:33,760 --> 00:02:35,880 Speaker 1: Well, first of all, thank you for having me. And yeah, 50 00:02:35,919 --> 00:02:38,400 Speaker 1: the NFL has a new headphones partner and new tech 51 00:02:38,440 --> 00:02:41,400 Speaker 1: partner in Sony. Sony will begin producing these headphones in 52 00:02:41,400 --> 00:02:43,440 Speaker 1: twenty twenty five. I asked if they're going to be 53 00:02:43,440 --> 00:02:45,079 Speaker 1: able to people are going to be able to buy 54 00:02:45,120 --> 00:02:48,480 Speaker 1: these things, and they said they wouldn't answer me, not 55 00:02:48,600 --> 00:02:52,200 Speaker 1: at this moment, which I would guess means yes at 56 00:02:52,200 --> 00:02:54,560 Speaker 1: some point. But yeah, they have a new tech partner. 57 00:02:54,880 --> 00:02:58,280 Speaker 1: Sony's also going to be testing some tech on the 58 00:02:58,320 --> 00:03:01,839 Speaker 1: sidelines where they're going to be trying electronic first down. 59 00:03:01,960 --> 00:03:05,760 Speaker 1: So the chain gang could be extinct in the next 60 00:03:05,760 --> 00:03:06,880 Speaker 1: couple of years. Wow. 61 00:03:06,919 --> 00:03:08,920 Speaker 5: And now that's that hawkeye technology. 62 00:03:08,960 --> 00:03:09,240 Speaker 1: Yeah? 63 00:03:09,280 --> 00:03:11,440 Speaker 5: Correct, And so what else can that be used for? 64 00:03:11,639 --> 00:03:13,880 Speaker 5: Is that like, is there potential for that type of 65 00:03:13,960 --> 00:03:17,000 Speaker 5: technology over time to reduce the reliance on officiating. 66 00:03:17,400 --> 00:03:20,440 Speaker 1: I think so. I think that's or I'd say it 67 00:03:20,480 --> 00:03:23,560 Speaker 1: would it will help with precision for calls for different 68 00:03:23,560 --> 00:03:26,800 Speaker 1: things like that. But you know, sports nowadays are all 69 00:03:26,800 --> 00:03:29,440 Speaker 1: about pace of play, and if you can have a techno. 70 00:03:29,600 --> 00:03:30,960 Speaker 1: If you're going to have put a chip in a 71 00:03:31,000 --> 00:03:32,960 Speaker 1: ball or whatever the tech is going to do with 72 00:03:33,040 --> 00:03:35,960 Speaker 1: the first down markers, that's going to allow officials to 73 00:03:36,000 --> 00:03:38,720 Speaker 1: just place the ball right down, especially for too minute 74 00:03:38,760 --> 00:03:41,440 Speaker 1: drills and things like that. I'm sure the NFL is 75 00:03:41,440 --> 00:03:43,880 Speaker 1: going to want to do that, And it's another sponsorship 76 00:03:43,920 --> 00:03:47,280 Speaker 1: opportunity that I would guess again that Sony would take over. 77 00:03:47,400 --> 00:03:50,040 Speaker 1: So that will be maybe another seventy five million, maybe 78 00:03:50,040 --> 00:03:53,280 Speaker 1: another hundred million, Hell excuse me, one hundred million, fifty million, 79 00:03:53,320 --> 00:03:53,920 Speaker 1: who knows? 80 00:03:54,160 --> 00:03:55,080 Speaker 8: So what else are. 81 00:03:55,040 --> 00:03:57,120 Speaker 9: Are you know, they looking to do in the future 82 00:03:57,320 --> 00:04:00,280 Speaker 9: that that Sony is looking to innovator that people in 83 00:04:00,280 --> 00:04:03,360 Speaker 9: the NFL really want technology to start taking a hold of. 84 00:04:03,400 --> 00:04:06,560 Speaker 1: Do you think, Let's officiating. And then one of the 85 00:04:06,560 --> 00:04:09,520 Speaker 1: things that they have I can't remember the name of 86 00:04:09,680 --> 00:04:14,040 Speaker 1: the title of the program that helps produce the Toy 87 00:04:14,120 --> 00:04:17,000 Speaker 1: Story broadcast that happened earlier this year, but Sony helps 88 00:04:17,120 --> 00:04:19,440 Speaker 1: with that as well. And so if you remember that 89 00:04:19,520 --> 00:04:24,599 Speaker 1: alternate broadcast on Disney Plus, Yes, Yes, Toy Story Funday Football, 90 00:04:24,680 --> 00:04:27,560 Speaker 1: then I think that we could see more of those, 91 00:04:27,640 --> 00:04:29,599 Speaker 1: maybe not just for Toy Story. The NFL has a 92 00:04:29,600 --> 00:04:32,159 Speaker 1: lot of partners out there that have rights over a 93 00:04:32,160 --> 00:04:35,440 Speaker 1: lot of different entertainment franchises. You think of ESPN with Marvel, 94 00:04:35,880 --> 00:04:38,400 Speaker 1: with some of the other Disney characters. You think of 95 00:04:38,440 --> 00:04:41,599 Speaker 1: Fox who used to have X Men. So there's a 96 00:04:41,600 --> 00:04:44,440 Speaker 1: lot of different opportunities out there that I think Sony 97 00:04:44,480 --> 00:04:46,839 Speaker 1: can help assist with, which is why this partnership is 98 00:04:46,839 --> 00:04:47,440 Speaker 1: so valuable. 99 00:04:47,720 --> 00:04:49,800 Speaker 5: So you're going to be looking at coaches on this 100 00:04:49,839 --> 00:04:52,520 Speaker 5: headline on the sidelines, they're going to have on their headphones, 101 00:04:52,560 --> 00:04:54,200 Speaker 5: it's going to say Sony along the side. I guess 102 00:04:54,240 --> 00:04:56,080 Speaker 5: that's one of the big draws there. But you know, 103 00:04:56,720 --> 00:04:58,640 Speaker 5: talk to us about you know, some of these other 104 00:04:58,760 --> 00:05:01,279 Speaker 5: big technology providers like Apple. I see a lot of 105 00:05:01,279 --> 00:05:04,080 Speaker 5: athletes on the sidelines with their iPads looking at you know, 106 00:05:04,400 --> 00:05:07,719 Speaker 5: films and footage. Right after the place the Microsoft tablets, 107 00:05:07,880 --> 00:05:11,040 Speaker 5: the Microsoft tablet, So is that a different that doesn't 108 00:05:11,080 --> 00:05:11,640 Speaker 5: fall under this? 109 00:05:11,680 --> 00:05:13,640 Speaker 1: Now, that's it. They are the official tablet. And so 110 00:05:13,680 --> 00:05:15,400 Speaker 1: I made sure to ask about that because the NFL 111 00:05:15,440 --> 00:05:17,880 Speaker 1: does have a lot of tech partnership, right, Sony is 112 00:05:17,920 --> 00:05:20,520 Speaker 1: the official tech partner. Now if you see a Microsoft tablet, 113 00:05:20,560 --> 00:05:23,760 Speaker 1: it'll say this is the official tablet of the NFL. 114 00:05:23,920 --> 00:05:26,440 Speaker 1: So the NFL has different ways. They figured out there's 115 00:05:26,960 --> 00:05:30,000 Speaker 1: these different terms to make money. Sony I would say 116 00:05:30,160 --> 00:05:32,320 Speaker 1: now that the NFL would never say one partner is 117 00:05:32,360 --> 00:05:34,480 Speaker 1: over the other. But when you say official tech partner 118 00:05:34,560 --> 00:05:38,200 Speaker 1: versus official tablet, tablet is tech. So Sony rings supreme. 119 00:05:38,560 --> 00:05:40,960 Speaker 9: So let's let's switch gears a little bit. Let's start 120 00:05:41,000 --> 00:05:44,440 Speaker 9: talking about the NBA and Vegas. I mean, this is 121 00:05:44,440 --> 00:05:46,080 Speaker 9: such a hot topic. When we were there for the 122 00:05:46,080 --> 00:05:48,359 Speaker 9: Super Bowl, people were talking to us about it. Already 123 00:05:48,760 --> 00:05:51,880 Speaker 9: it's not even a thing yet and it's still already 124 00:05:51,880 --> 00:05:54,799 Speaker 9: said to be the most expensive US sports franchise and history. 125 00:05:54,880 --> 00:05:56,560 Speaker 9: Talk to us about that and what the deal is 126 00:05:56,600 --> 00:05:57,120 Speaker 9: going to look like. 127 00:05:57,400 --> 00:05:59,120 Speaker 1: Yeah, I think if you go back a couple of 128 00:05:59,200 --> 00:06:02,920 Speaker 1: years ago, someone a journalist had asked Adam silver Or 129 00:06:02,960 --> 00:06:05,080 Speaker 1: floated the idea of a two point five billion dollar 130 00:06:05,200 --> 00:06:07,080 Speaker 1: expansion fee, and he said that was a little small. 131 00:06:07,080 --> 00:06:09,520 Speaker 1: Where you look at the valuations right now and an 132 00:06:09,560 --> 00:06:12,200 Speaker 1: average NBA team is worth around four billion dollars, and 133 00:06:12,240 --> 00:06:14,440 Speaker 1: so that's where it starts. I'd say the four billion 134 00:06:14,440 --> 00:06:16,240 Speaker 1: dollar price tag. Now you have a new media deal 135 00:06:16,279 --> 00:06:20,240 Speaker 1: which allows the NBA to revalue its teams, but Vegas 136 00:06:20,279 --> 00:06:21,880 Speaker 1: is a goal in my market. The only thing that's 137 00:06:21,920 --> 00:06:25,400 Speaker 1: missing there is an NBA team. They have a WNBA team, 138 00:06:25,640 --> 00:06:28,840 Speaker 1: they have an FL team and the MLS as well, 139 00:06:28,880 --> 00:06:32,320 Speaker 1: but they have the A's coming maybe, so there's there 140 00:06:32,400 --> 00:06:34,640 Speaker 1: is a big opportunity there, But there's a lot of 141 00:06:34,720 --> 00:06:37,440 Speaker 1: questions as to how the team is going to be 142 00:06:37,520 --> 00:06:40,640 Speaker 1: able to be there and if the NBA goes there. Now, 143 00:06:40,720 --> 00:06:42,800 Speaker 1: everyone that I've spoken to has said it's pretty much 144 00:06:42,800 --> 00:06:44,760 Speaker 1: a foregone conclusion that the NBA is going to choose 145 00:06:44,839 --> 00:06:47,719 Speaker 1: Las Vegas and Seattle. Obviously that is to be determined. 146 00:06:48,200 --> 00:06:50,800 Speaker 1: But one of the questions is will they play in 147 00:06:50,839 --> 00:06:53,679 Speaker 1: T Mobile Arena? Because T Mobile Arena, who I've spoken 148 00:06:53,720 --> 00:06:55,320 Speaker 1: to a number of times this year, said hey, we're 149 00:06:55,360 --> 00:06:58,280 Speaker 1: going to make this available for an NBA team should 150 00:06:58,360 --> 00:07:00,479 Speaker 1: someone want to play here. But are you going to 151 00:07:00,480 --> 00:07:03,240 Speaker 1: want to split time with the UFC and the Vegas 152 00:07:03,240 --> 00:07:05,320 Speaker 1: Golden Knights, or are you gonna want to build a 153 00:07:05,360 --> 00:07:07,880 Speaker 1: brand new stadium. If you build a brand new stadium, 154 00:07:08,120 --> 00:07:10,920 Speaker 1: that's another billion and a half to two billion dollars. 155 00:07:11,040 --> 00:07:12,520 Speaker 1: I mean, you look at any other stadium out there. 156 00:07:12,520 --> 00:07:14,760 Speaker 1: The Clippers new Arena is a two billion dollar stadium, 157 00:07:14,880 --> 00:07:17,800 Speaker 1: another one point five billion on top of the expansion fee, 158 00:07:18,080 --> 00:07:20,760 Speaker 1: and if it's as competitive as what everyone's saying, then 159 00:07:20,800 --> 00:07:22,680 Speaker 1: four billion dollars is just the floor. You're gonna have 160 00:07:22,680 --> 00:07:24,320 Speaker 1: people who are gonna be like, ah, four point two, 161 00:07:24,440 --> 00:07:26,800 Speaker 1: four point four, similar to how car auctions work. 162 00:07:27,200 --> 00:07:30,160 Speaker 5: Randall, I mean, you're closer to this than just about 163 00:07:30,200 --> 00:07:33,880 Speaker 5: anyone who is sniffing around for one of those expansion franchises. 164 00:07:33,920 --> 00:07:38,000 Speaker 5: I've heard Lebron James, I've heard the Red Bull Organization, 165 00:07:38,040 --> 00:07:40,080 Speaker 5: the Consumer Good company out of Europe. Talk to us 166 00:07:40,120 --> 00:07:42,440 Speaker 5: about who you think is sniffing around and who has 167 00:07:42,480 --> 00:07:44,160 Speaker 5: a pretty good shot of getting a team in Las 168 00:07:44,240 --> 00:07:45,920 Speaker 5: Vegas and or Seattle. 169 00:07:46,240 --> 00:07:48,240 Speaker 1: Any billionaire that wants to be in sports that does 170 00:07:48,280 --> 00:07:50,960 Speaker 1: not own a team is going to want this Vegas team. Now, 171 00:07:50,960 --> 00:07:53,880 Speaker 1: obviously Lebron is the biggest name in this. He hasn't 172 00:07:53,920 --> 00:07:58,840 Speaker 1: been shy. The Redbird Capital Partners Jerry Cardinell cardinally has 173 00:07:58,840 --> 00:08:02,480 Speaker 1: not been shy about saying anyway sports they are going 174 00:08:03,000 --> 00:08:04,760 Speaker 1: I believe they are going to bid based on everything 175 00:08:04,760 --> 00:08:06,920 Speaker 1: that Lebron has said. Now, there's some tricky math to 176 00:08:06,960 --> 00:08:10,320 Speaker 1: play when Lebron retires because of the fact that he 177 00:08:10,360 --> 00:08:12,160 Speaker 1: can't be a player and owner at the same time. 178 00:08:13,640 --> 00:08:16,080 Speaker 1: But you know, the expansion process takes several years for 179 00:08:16,160 --> 00:08:17,600 Speaker 1: them to decide some of these things, so I think 180 00:08:17,600 --> 00:08:20,320 Speaker 1: it'll work out. Shack has said he wants to be involved. 181 00:08:20,440 --> 00:08:22,800 Speaker 1: We were told that Red Bull is considering these things. 182 00:08:22,920 --> 00:08:25,360 Speaker 1: So there are going to be a lot of people 183 00:08:25,360 --> 00:08:28,880 Speaker 1: who are going to be involved in this bid. Now, 184 00:08:28,880 --> 00:08:31,360 Speaker 1: the Seattle one is a little different because there's there's 185 00:08:31,360 --> 00:08:34,520 Speaker 1: a stadium downtown. I believe her name is Samantha Holloway 186 00:08:34,559 --> 00:08:36,600 Speaker 1: owns that stadium. It makes sense there. 187 00:08:36,720 --> 00:08:40,200 Speaker 9: Do you think, though that randal you said, the owners 188 00:08:40,200 --> 00:08:42,120 Speaker 9: of that stadium will be the ones who end up 189 00:08:42,120 --> 00:08:43,800 Speaker 9: getting Seattle Or do you think that one of these 190 00:08:44,120 --> 00:08:47,800 Speaker 9: these billionaires for bidding on Vegas, if they lose out, 191 00:08:47,800 --> 00:08:49,160 Speaker 9: they're going to start bidding for Seattle. 192 00:08:49,400 --> 00:08:51,320 Speaker 1: I doubt it. I mean, it's it's possible, but I 193 00:08:51,400 --> 00:08:54,760 Speaker 1: doubt it because the real estate around Seattle, the real 194 00:08:54,840 --> 00:08:58,080 Speaker 1: estate everywhere's expensive. But when you have something it's easy 195 00:08:58,080 --> 00:09:01,360 Speaker 1: for the league, someone who's experienced run a team, it's 196 00:09:01,400 --> 00:09:03,880 Speaker 1: going to be very, very difficult. The price would have 197 00:09:03,920 --> 00:09:09,079 Speaker 1: to be astronomical for a billionaire Let's say this is theory. 198 00:09:09,080 --> 00:09:10,800 Speaker 1: But let's say Jeff Bezos just wants the team in 199 00:09:10,840 --> 00:09:14,200 Speaker 1: Seattle and the four billion dollars is the floor. Well, 200 00:09:14,440 --> 00:09:16,960 Speaker 1: they already have a stadium. So let's say Samantha Holloway 201 00:09:17,280 --> 00:09:19,480 Speaker 1: bids for four billion dollars and goes to four point two, 202 00:09:19,520 --> 00:09:22,360 Speaker 1: but then Jeff Bezos jumps in and says, I want 203 00:09:22,360 --> 00:09:25,240 Speaker 1: to go for six billion. Well, that's including a stadium. 204 00:09:25,240 --> 00:09:26,960 Speaker 1: It's just going to be a lot of money that 205 00:09:27,160 --> 00:09:29,559 Speaker 1: a lot of people don't have. So I think it's 206 00:09:29,800 --> 00:09:32,400 Speaker 1: easier for the NBA if they choose Seattle to go 207 00:09:32,400 --> 00:09:34,800 Speaker 1: to hurt and be like, this is makes perfect sense. 208 00:09:35,280 --> 00:09:38,120 Speaker 1: And Vegas is different. You're going to have some people 209 00:09:38,160 --> 00:09:40,640 Speaker 1: with i'd say much bigger egos who don't want to 210 00:09:40,679 --> 00:09:43,280 Speaker 1: share an arena. So there's levels to this. And there's 211 00:09:43,280 --> 00:09:46,200 Speaker 1: some other cities out there in Mexico City, Nashville, maybe 212 00:09:46,280 --> 00:09:50,480 Speaker 1: Kansas City that you know are going to be competitive too, 213 00:09:50,520 --> 00:09:52,840 Speaker 1: but Vegas is the gold mine here that everyone's going 214 00:09:52,920 --> 00:09:53,600 Speaker 1: to be competing for. 215 00:09:53,880 --> 00:09:56,560 Speaker 9: Let's talk more about, you know, the expansion cities that 216 00:09:56,640 --> 00:10:01,600 Speaker 9: aren't necessarily a lock Mexico City. You expand into Mexico 217 00:10:01,679 --> 00:10:04,320 Speaker 9: and have another partner, another team outside of the US. 218 00:10:04,360 --> 00:10:05,880 Speaker 9: What does that do do you think? 219 00:10:06,000 --> 00:10:09,079 Speaker 1: Well, I think it establishes a base there. Like you know, 220 00:10:09,200 --> 00:10:12,200 Speaker 1: you think about all these big sports leagues. Noe's of 221 00:10:12,240 --> 00:10:16,160 Speaker 1: the big leagues, the NFL, the NBA, and the MLB. 222 00:10:16,920 --> 00:10:19,960 Speaker 1: None of them are in Mexico City yet. But the 223 00:10:20,000 --> 00:10:21,800 Speaker 1: first one is going to be a winner there. I 224 00:10:21,840 --> 00:10:24,880 Speaker 1: mean that's the reason why NBA plays there, The NFL 225 00:10:24,920 --> 00:10:27,480 Speaker 1: plays there consistently now, and NFL hasn't been there in 226 00:10:27,520 --> 00:10:29,920 Speaker 1: some time because the stadium that they play in is 227 00:10:30,000 --> 00:10:34,240 Speaker 1: under construction for the World Cup. But you know, the 228 00:10:34,280 --> 00:10:36,360 Speaker 1: first team to get there is going to be a 229 00:10:36,360 --> 00:10:38,280 Speaker 1: big deal Randall. I mean we know that. 230 00:10:38,320 --> 00:10:40,040 Speaker 5: You know, we can't even be talking expansion in the 231 00:10:40,160 --> 00:10:44,319 Speaker 5: NBA without them having first, you know, nailed down this 232 00:10:44,440 --> 00:10:47,240 Speaker 5: seventy six billion dollars eleven year contract with with all 233 00:10:47,280 --> 00:10:49,560 Speaker 5: these different companies from Walt Disney to Comcast to Amazon. 234 00:10:49,559 --> 00:10:51,400 Speaker 5: We had a little bit of a breakthrough, if I'm 235 00:10:51,400 --> 00:10:53,920 Speaker 5: not mistaken, just a few days back where you know, 236 00:10:53,960 --> 00:10:59,000 Speaker 5: officially Warner Brothers Discovery was was spurned. So just give 237 00:10:59,080 --> 00:11:01,000 Speaker 5: us a little update on I know that's been something 238 00:11:01,040 --> 00:11:02,120 Speaker 5: you've been covering very closely. 239 00:11:02,520 --> 00:11:06,560 Speaker 1: Yeah, the NBA shows Amazon. I never expected them to 240 00:11:06,679 --> 00:11:10,360 Speaker 1: go back to Warner Brothers Discovery. Warner Brothers Discovery CEO 241 00:11:11,200 --> 00:11:13,720 Speaker 1: David Diaslov has said hey, we don't need the NBA 242 00:11:13,800 --> 00:11:16,600 Speaker 1: two years ago. And so that was i'd say the 243 00:11:16,640 --> 00:11:19,240 Speaker 1: beginning of a fracture in a relationship. Why would someone 244 00:11:19,280 --> 00:11:22,320 Speaker 1: say that about a relationship that's ongoing. That's like you 245 00:11:22,360 --> 00:11:24,880 Speaker 1: being in a relationship and saying, yeah, my wife's great, 246 00:11:24,880 --> 00:11:26,920 Speaker 1: but I don't need it, like you know, That's that's 247 00:11:27,040 --> 00:11:30,880 Speaker 1: essentially what happened. And so the league is looking for 248 00:11:30,920 --> 00:11:34,120 Speaker 1: a fresh start and they wanted a streaming partner in Amazon. 249 00:11:34,200 --> 00:11:36,600 Speaker 1: They got one. Now, Warner Brothers Discovery offered to say, hey, 250 00:11:36,600 --> 00:11:40,959 Speaker 1: we'll simulcast our games on Max and on TNT. The 251 00:11:41,040 --> 00:11:42,920 Speaker 1: League said, no, we don't want that. So Warner Brothers 252 00:11:42,960 --> 00:11:45,480 Speaker 1: Discovery obviously is suing and saying, hey, you know you're 253 00:11:46,160 --> 00:11:49,000 Speaker 1: you're contractedly obligated for us to win this based on 254 00:11:49,040 --> 00:11:52,000 Speaker 1: the matching rights. But the interesting thing is that Warner 255 00:11:52,000 --> 00:11:55,080 Speaker 1: Brothers Discovery is paying one point four billion dollars right now. 256 00:11:55,240 --> 00:11:57,920 Speaker 1: The Amazon dealers worth roughly one point eight billion over 257 00:11:57,960 --> 00:12:00,120 Speaker 1: the course of eleven years, which is like nine ten 258 00:12:00,160 --> 00:12:03,240 Speaker 1: million dollars over the lifetime of it. Warner Brothers right 259 00:12:03,280 --> 00:12:05,600 Speaker 1: now has the B package. They are bidding for the 260 00:12:05,640 --> 00:12:08,280 Speaker 1: C package, so they didn't want to pay the package 261 00:12:08,320 --> 00:12:10,719 Speaker 1: that they lost because NBC has the B package. They 262 00:12:10,720 --> 00:12:13,160 Speaker 1: wanted to pay Amazon's package. Well, why would you want 263 00:12:13,200 --> 00:12:16,320 Speaker 1: to pay a get what some would say a lesser 264 00:12:16,400 --> 00:12:20,640 Speaker 1: package because they're being cheap. Amazon offered to pay the 265 00:12:20,720 --> 00:12:23,640 Speaker 1: first three years in cash, like five point four billion 266 00:12:23,679 --> 00:12:26,160 Speaker 1: dollars in cash, where they're like, hey, here it is, 267 00:12:26,320 --> 00:12:28,720 Speaker 1: take care of it. Warner Brothers Discovery had to get 268 00:12:28,800 --> 00:12:31,520 Speaker 1: a credit loan. So there's levels to this. 269 00:12:31,840 --> 00:12:35,640 Speaker 5: Randall Williams, US sports business reporter here for Bloomberg News, 270 00:12:35,720 --> 00:12:37,839 Speaker 5: our own Randall, thank you for joining us here on 271 00:12:37,880 --> 00:12:39,080 Speaker 5: the Bloomberg Business of Sports. 272 00:12:39,360 --> 00:12:41,559 Speaker 1: Appreciate you for having me Coming up. 273 00:12:42,080 --> 00:12:46,160 Speaker 5: Former Olympic champion Marion Jones reflects on her conviction and 274 00:12:46,200 --> 00:12:49,079 Speaker 5: her story of redemption that Straight Ahead on the Bloomberg 275 00:12:49,120 --> 00:12:52,880 Speaker 5: Business of Sports show from Bloomberg Radio around the world. 276 00:13:02,200 --> 00:13:06,079 Speaker 7: Bloomberg Radio is on Amazon Alexa get live Business news 277 00:13:06,120 --> 00:13:09,000 Speaker 7: twenty four hours a day anywhere you have an Alexa device. 278 00:13:09,280 --> 00:13:14,439 Speaker 7: Just say Alexa play Bloomberg Radio. You're listening to Bloomberg 279 00:13:14,600 --> 00:13:17,120 Speaker 7: Business of Sports from Bloomberg Radio. 280 00:13:19,040 --> 00:13:21,600 Speaker 5: Welcome back to the Bloomberg Business of Sports show, where 281 00:13:21,640 --> 00:13:23,920 Speaker 5: we explore the big money issues in the world of sports. 282 00:13:24,280 --> 00:13:27,000 Speaker 5: I'm Damian Sasaur, Michael barr Is off this week, and 283 00:13:27,160 --> 00:13:31,800 Speaker 5: scarletfoo Is on assignment. She was once considered the fastest 284 00:13:31,800 --> 00:13:33,760 Speaker 5: woman in the world and one gold at the two 285 00:13:33,800 --> 00:13:36,800 Speaker 5: thousand Summer Olympics in Sydney, Australia. But in two thousand 286 00:13:36,800 --> 00:13:40,040 Speaker 5: and eight things turned from Marion Jones when she was 287 00:13:40,080 --> 00:13:44,280 Speaker 5: sentenced to six months in prison after pleading guilty to 288 00:13:44,840 --> 00:13:49,880 Speaker 5: lying to federal investigators over her use of performance enhancing drugs, 289 00:13:50,160 --> 00:13:54,400 Speaker 5: stripping her of five medals in the process. Here, the 290 00:13:54,400 --> 00:13:57,079 Speaker 5: former Olympic gold medalist is now gearing up for her 291 00:13:57,160 --> 00:14:01,360 Speaker 5: second chance for more are scarletfo Food joins Romain Bostic 292 00:14:01,640 --> 00:14:04,360 Speaker 5: to sit down with Marion Jones. Let's listen in. 293 00:14:05,400 --> 00:14:07,120 Speaker 4: Marian, thank you so much for joining us today. 294 00:14:07,200 --> 00:14:08,440 Speaker 8: It's great to see you here. 295 00:14:08,800 --> 00:14:11,360 Speaker 4: At the Sydney Games, you were the fastest woman on 296 00:14:11,400 --> 00:14:14,680 Speaker 4: the planet. You won five medals, three golds to bronzes 297 00:14:14,960 --> 00:14:18,560 Speaker 4: before things came crashing down. You ended up pleading guilty 298 00:14:18,600 --> 00:14:21,800 Speaker 4: for lying to federal investigators over using band substances. You 299 00:14:21,880 --> 00:14:24,200 Speaker 4: gave up your medals and you spent six months in 300 00:14:24,240 --> 00:14:26,200 Speaker 4: prison in two thousand and eight. So that is an 301 00:14:26,280 --> 00:14:30,720 Speaker 4: incredible personal journey. It's gone through highs and lows. How 302 00:14:30,760 --> 00:14:32,800 Speaker 4: has it changed your understanding of failure? 303 00:14:33,000 --> 00:14:36,360 Speaker 8: It's totally changed. It an incredible experience. 304 00:14:36,480 --> 00:14:38,920 Speaker 2: We chatted a moment ago about if I was watching 305 00:14:38,960 --> 00:14:42,480 Speaker 2: the games, and so many people are interested in that 306 00:14:43,000 --> 00:14:45,040 Speaker 2: if I watch it with. 307 00:14:44,880 --> 00:14:46,040 Speaker 8: Joy, and I do. 308 00:14:46,200 --> 00:14:51,640 Speaker 2: My experiences there were positive, and my experiences there were 309 00:14:51,760 --> 00:14:56,960 Speaker 2: life changing also, but not only my experience after the 310 00:14:57,000 --> 00:15:00,680 Speaker 2: games and the poor choices that I made and severe 311 00:15:00,720 --> 00:15:04,840 Speaker 2: consequences that I face, But it's also I think says 312 00:15:04,840 --> 00:15:10,600 Speaker 2: something about like grit in that you know, people necessarily 313 00:15:10,600 --> 00:15:13,760 Speaker 2: cannot relate to being an Olympic champion, nor then can 314 00:15:13,800 --> 00:15:16,560 Speaker 2: they relate to going to the Olympics. They can't. Many 315 00:15:16,600 --> 00:15:19,560 Speaker 2: can't relate to being a convicted felon. But everybody can 316 00:15:19,600 --> 00:15:22,760 Speaker 2: relate to some type of failure in their life, whether 317 00:15:22,800 --> 00:15:27,120 Speaker 2: it's a failure in their career, in their relationships, financial failure. 318 00:15:28,120 --> 00:15:31,040 Speaker 2: And what I've learned from mine is that it's thankfully 319 00:15:31,120 --> 00:15:31,840 Speaker 2: not forever. 320 00:15:32,600 --> 00:15:36,040 Speaker 8: We don't have to stay there. Being stuck is a choice. 321 00:15:37,200 --> 00:15:39,400 Speaker 2: And even bigger than I think all of that is 322 00:15:39,440 --> 00:15:42,880 Speaker 2: this idea that your setbacks in life don't have to 323 00:15:42,920 --> 00:15:47,920 Speaker 2: be forever, and your comeback can be that much bigger 324 00:15:47,960 --> 00:15:48,360 Speaker 2: and better. 325 00:15:48,640 --> 00:15:52,120 Speaker 4: In the startup world and among entrepreneurs, failure isn't always 326 00:15:52,120 --> 00:15:54,040 Speaker 4: seen as a bad thing. It can be a good thing. 327 00:15:54,520 --> 00:15:56,960 Speaker 4: It's valued, and it's encouraged. It's seen as a way 328 00:15:57,000 --> 00:16:00,920 Speaker 4: of learning from your mistakes. It's a positive experience. You 329 00:16:01,000 --> 00:16:03,440 Speaker 4: clearly have made peace with it. What were the steps 330 00:16:03,440 --> 00:16:05,960 Speaker 4: that you needed to take to get to that mindset? 331 00:16:06,600 --> 00:16:10,120 Speaker 2: Well, you know, while I was in it, it was hard. 332 00:16:11,160 --> 00:16:14,080 Speaker 2: But I think what really helped me was this idea 333 00:16:14,280 --> 00:16:17,200 Speaker 2: of pausing while I was in the midst of my discomfort. 334 00:16:17,480 --> 00:16:19,840 Speaker 2: And that's what I share with entrepreneurs now that I 335 00:16:19,920 --> 00:16:23,920 Speaker 2: coach and that I mentor in that the discomfort is 336 00:16:23,920 --> 00:16:27,000 Speaker 2: something that you have to embrace, whether it's in life, 337 00:16:27,040 --> 00:16:31,560 Speaker 2: whether it's in business. You find your steps to success 338 00:16:31,680 --> 00:16:35,160 Speaker 2: in the midst of your discomfort, but while you're in it, 339 00:16:35,680 --> 00:16:38,360 Speaker 2: or while I was in it, at least, just sitting 340 00:16:38,400 --> 00:16:41,960 Speaker 2: and pausing reflecting on choices that I had made on 341 00:16:42,000 --> 00:16:45,600 Speaker 2: where I was, but more importantly where I was headed, 342 00:16:47,000 --> 00:16:51,000 Speaker 2: making the decision to reframe and reinvent myself and how 343 00:16:51,040 --> 00:16:54,880 Speaker 2: I was going to do that, and then lastly preparing 344 00:16:55,040 --> 00:17:00,160 Speaker 2: oneself for hiccups along the way, like after my time away, 345 00:17:00,400 --> 00:17:03,960 Speaker 2: the consequences that I face. I knew that doors were 346 00:17:03,960 --> 00:17:06,040 Speaker 2: going to be slammed in my face and people wouldn't 347 00:17:06,040 --> 00:17:08,400 Speaker 2: want to hear from me, and opportunities would not be there, 348 00:17:08,960 --> 00:17:14,680 Speaker 2: and if I wasn't prepared to push through that Knowing 349 00:17:14,720 --> 00:17:18,280 Speaker 2: that I had a testimony to share, I had things 350 00:17:18,280 --> 00:17:22,159 Speaker 2: that I wanted to teach people, regardless. 351 00:17:21,600 --> 00:17:23,880 Speaker 8: If at that time the. 352 00:17:23,800 --> 00:17:26,000 Speaker 2: World wanted to hear from me, and I knew my 353 00:17:26,080 --> 00:17:28,919 Speaker 2: time would come when I was ready. I made the 354 00:17:29,040 --> 00:17:32,240 Speaker 2: choice after all that happened to step away from the 355 00:17:32,320 --> 00:17:36,040 Speaker 2: spotlight for over a decade. My priorities were my three 356 00:17:36,119 --> 00:17:38,840 Speaker 2: kids and making sure that they were healthy and ready 357 00:17:38,880 --> 00:17:42,880 Speaker 2: for the world, and also me. I needed to step 358 00:17:42,920 --> 00:17:49,520 Speaker 2: away and find where I was headed, and over the 359 00:17:49,560 --> 00:17:53,520 Speaker 2: past few years preparation for all this, I knew that 360 00:17:53,560 --> 00:17:56,560 Speaker 2: the story, my story was one that I wanted to 361 00:17:56,600 --> 00:18:00,520 Speaker 2: help people. Ultimately, sports opened up the door for me 362 00:18:00,720 --> 00:18:02,800 Speaker 2: and gave me opportunities. It's one of the things that 363 00:18:02,840 --> 00:18:07,800 Speaker 2: I share with athletes. Now enjoy the moment, embrace it, 364 00:18:08,480 --> 00:18:11,760 Speaker 2: trust the process they worked hard to get there, but 365 00:18:11,840 --> 00:18:17,280 Speaker 2: also understand that sport life is bigger than sport. Surround 366 00:18:17,320 --> 00:18:19,840 Speaker 2: yourself with people that will help you grow and prepare 367 00:18:20,400 --> 00:18:21,680 Speaker 2: for after sport. 368 00:18:22,640 --> 00:18:25,080 Speaker 3: Talk about why you came back into the spotlight. You 369 00:18:25,080 --> 00:18:28,439 Speaker 3: say you basically kind of disappeared yourself for about a decade. 370 00:18:28,520 --> 00:18:29,480 Speaker 3: You're back in the spotlight. 371 00:18:29,520 --> 00:18:32,399 Speaker 8: Now why it was my moment? 372 00:18:33,280 --> 00:18:35,560 Speaker 2: I think that all of us go through seasons in 373 00:18:35,600 --> 00:18:41,000 Speaker 2: our life, seasons of regret, seasons of joy, seasons of success, 374 00:18:42,320 --> 00:18:46,159 Speaker 2: and I needed, as I shared, to pause and to 375 00:18:46,200 --> 00:18:48,560 Speaker 2: focus on what was important in my world. 376 00:18:49,200 --> 00:18:50,280 Speaker 8: This is the time for me. 377 00:18:51,440 --> 00:18:56,119 Speaker 2: I have partnered with an incredible company whereby we teach 378 00:18:56,280 --> 00:19:00,440 Speaker 2: entrepreneurs the tools on how to come back from failure. 379 00:19:00,640 --> 00:19:04,320 Speaker 3: You're talking about the company Driven, Correct, Explain exactly what 380 00:19:04,400 --> 00:19:06,560 Speaker 3: Driven does and more importantly, for those folks who are 381 00:19:06,600 --> 00:19:09,720 Speaker 3: interested in it, what exactly are they going to get 382 00:19:09,840 --> 00:19:10,840 Speaker 3: by being on that platform? 383 00:19:10,960 --> 00:19:12,240 Speaker 8: Well well, Driven Inc. 384 00:19:12,600 --> 00:19:15,760 Speaker 2: Is a company that was formed by Susanne Evans a 385 00:19:15,800 --> 00:19:16,400 Speaker 2: while back. 386 00:19:16,480 --> 00:19:17,480 Speaker 8: Susanne Evans is. 387 00:19:17,440 --> 00:19:21,200 Speaker 2: A best selling author New York Times bestselling author. We 388 00:19:21,359 --> 00:19:25,520 Speaker 2: partnered earlier in the years. She coaches and mentors entrepreneurs 389 00:19:26,040 --> 00:19:29,760 Speaker 2: and I have a passion for physical movement. I'm also 390 00:19:29,840 --> 00:19:32,440 Speaker 2: a trainer, I have been for over a decade. And 391 00:19:32,840 --> 00:19:37,200 Speaker 2: this idea of balancing the body, the mindset, and your 392 00:19:37,240 --> 00:19:41,000 Speaker 2: belief system in a way that entrepreneurs can really step 393 00:19:41,000 --> 00:19:44,960 Speaker 2: out of their comfort zone and get closer to success. 394 00:19:45,520 --> 00:19:46,720 Speaker 8: And it's something that we do. 395 00:19:46,840 --> 00:19:52,200 Speaker 2: I train people entrepreneurs because everybody, especially as we age, 396 00:19:52,240 --> 00:19:53,480 Speaker 2: we all know it's important. 397 00:19:53,480 --> 00:19:54,879 Speaker 8: Movement is important. 398 00:19:55,280 --> 00:19:57,840 Speaker 2: It helps the brain, it helps the body, it helps 399 00:19:57,840 --> 00:20:01,640 Speaker 2: the heart, and it's some that I'm absolutely passionate about. 400 00:20:01,800 --> 00:20:04,320 Speaker 4: So how did this come together, this partnership with Suzanne 401 00:20:04,320 --> 00:20:06,600 Speaker 4: and driven. Was it through the entrepreneurs that you were 402 00:20:06,680 --> 00:20:11,160 Speaker 4: training and this idea that, oh wait, leadership and overcoming 403 00:20:11,320 --> 00:20:14,640 Speaker 4: challenges there is something in common here or did Suzanne 404 00:20:14,680 --> 00:20:15,560 Speaker 4: approach you? 405 00:20:15,560 --> 00:20:18,080 Speaker 8: No, Well, the story is very interesting. 406 00:20:18,119 --> 00:20:20,199 Speaker 2: At the beginning of the month, at the beginning of 407 00:20:20,200 --> 00:20:23,760 Speaker 2: the year, Suzanne was in town. I'm from the Austin, 408 00:20:23,800 --> 00:20:28,119 Speaker 2: Texas area. We have a mutual friend. The mutual friend said, Hey, Suzanne, 409 00:20:28,160 --> 00:20:30,640 Speaker 2: I have a personal trader that I would like free 410 00:20:30,680 --> 00:20:31,200 Speaker 2: to meet. 411 00:20:31,240 --> 00:20:32,560 Speaker 8: And I met Suzanne. 412 00:20:32,880 --> 00:20:36,080 Speaker 2: We worked out together, we trained together, and really we 413 00:20:36,240 --> 00:20:39,000 Speaker 2: just bonded in a way that we knew that my story, 414 00:20:39,080 --> 00:20:44,280 Speaker 2: my journey, this idea of coming back from hardship applies 415 00:20:44,320 --> 00:20:49,600 Speaker 2: to everybody. Every single human, if you're being honest with yourself, 416 00:20:50,040 --> 00:20:54,080 Speaker 2: is coming back from something and really need the tools 417 00:20:54,160 --> 00:20:56,919 Speaker 2: on how to do that, especially entrepreneurs. 418 00:20:57,720 --> 00:21:00,800 Speaker 4: Well said, so in your prime you talked about the 419 00:21:00,840 --> 00:21:04,480 Speaker 4: opportunities you had. You had endorsements, deals with Nike, with 420 00:21:04,600 --> 00:21:07,040 Speaker 4: Gate Raid, I know you were White Mustache where they. 421 00:21:07,000 --> 00:21:08,320 Speaker 8: Got milkctment campaign. 422 00:21:08,880 --> 00:21:12,760 Speaker 4: Were those relationships severed permanently? I mean, now that you're 423 00:21:12,840 --> 00:21:15,120 Speaker 4: back in the spotlight again, is this something that you're 424 00:21:15,200 --> 00:21:17,160 Speaker 4: looking to renew, to resuscitate. 425 00:21:17,880 --> 00:21:19,879 Speaker 8: No, I'm in it absolutely. 426 00:21:19,880 --> 00:21:21,760 Speaker 2: Like I shared before, I'm in a different place in 427 00:21:21,800 --> 00:21:26,760 Speaker 2: my world, and opportunities are opening up that are very 428 00:21:26,800 --> 00:21:29,080 Speaker 2: different from what they look like before. 429 00:21:30,400 --> 00:21:31,720 Speaker 8: Ultimately, my goal is. 430 00:21:31,680 --> 00:21:34,560 Speaker 2: To help people right and the platform that I have 431 00:21:34,720 --> 00:21:38,680 Speaker 2: now and the opportunities that have opened themselves up will 432 00:21:38,680 --> 00:21:39,639 Speaker 2: allow me to do that. 433 00:21:40,160 --> 00:21:41,719 Speaker 8: And what comes out of that we don't know. 434 00:21:42,680 --> 00:21:46,160 Speaker 2: But as long as I have put together a team 435 00:21:46,280 --> 00:21:48,000 Speaker 2: around me and that's a big part of it. 436 00:21:48,200 --> 00:21:50,280 Speaker 8: An accountability team, right. 437 00:21:50,240 --> 00:21:54,600 Speaker 2: People who will help you along the way and give 438 00:21:54,640 --> 00:21:56,959 Speaker 2: it to you straight. As long as I keep that 439 00:21:57,000 --> 00:21:59,840 Speaker 2: team around me, and ultimately my goal is to help people. 440 00:22:00,400 --> 00:22:02,080 Speaker 8: We'll see what comes about it all. 441 00:22:02,680 --> 00:22:05,480 Speaker 3: How do you approach then, dealing with the media. I mean, 442 00:22:05,520 --> 00:22:07,320 Speaker 3: when you go back to the early part of your 443 00:22:07,320 --> 00:22:10,080 Speaker 3: career as an athlete, of course, you know how vicious 444 00:22:10,119 --> 00:22:12,560 Speaker 3: the media cycle can be when it wants to be Here, 445 00:22:12,800 --> 00:22:15,320 Speaker 3: you're now re entering that spotlight to a certain extent here, 446 00:22:15,359 --> 00:22:16,720 Speaker 3: Are you better prepared to handle that? 447 00:22:18,200 --> 00:22:18,800 Speaker 8: I am. 448 00:22:18,920 --> 00:22:23,240 Speaker 2: I mean, that's experience and age and time and growth. 449 00:22:24,840 --> 00:22:28,560 Speaker 2: But it's hard when you're twenty two years old and 450 00:22:28,880 --> 00:22:32,240 Speaker 2: you know you're you're on the cover of Vogue magazine 451 00:22:32,280 --> 00:22:33,480 Speaker 2: and every magazine cover. 452 00:22:34,119 --> 00:22:36,320 Speaker 8: I was prepared as I could have been at that age. 453 00:22:37,480 --> 00:22:43,320 Speaker 2: But now I'm certainly at a place whereby my story 454 00:22:43,400 --> 00:22:47,600 Speaker 2: has been well documented and discussed, and I have shared 455 00:22:47,640 --> 00:22:51,040 Speaker 2: certain things, and I have faced consequences, and I'm pretty 456 00:22:51,080 --> 00:22:53,239 Speaker 2: much done with it right Like I understand there are 457 00:22:53,240 --> 00:22:56,000 Speaker 2: certain things that need to be said. But if it's 458 00:22:56,080 --> 00:23:00,840 Speaker 2: all at this point not about forward movement, which is 459 00:23:00,840 --> 00:23:02,960 Speaker 2: how I like to relate to my clients. Even in 460 00:23:03,000 --> 00:23:08,359 Speaker 2: your business, it's about moving forward. Poor choices were made everybody, right, 461 00:23:09,200 --> 00:23:11,800 Speaker 2: but if you stay there, stuck in that place, there's 462 00:23:11,840 --> 00:23:14,040 Speaker 2: no room for growth. And so that is how I've 463 00:23:14,080 --> 00:23:17,920 Speaker 2: actually applied my strategy towards the media, that it needs 464 00:23:17,960 --> 00:23:22,920 Speaker 2: to be forward movement. I am not interested in things 465 00:23:22,960 --> 00:23:27,040 Speaker 2: in the past, like if you are just google things right, like, 466 00:23:27,080 --> 00:23:29,520 Speaker 2: there's a lot of information there. I've said what I 467 00:23:29,560 --> 00:23:32,560 Speaker 2: had to say, and I hope people now are. You know, 468 00:23:32,880 --> 00:23:36,800 Speaker 2: generally the consensus is people want to know where I'm 469 00:23:36,840 --> 00:23:40,160 Speaker 2: at and what I'm doing moving forward, and I'm all about. 470 00:23:39,920 --> 00:23:42,800 Speaker 3: That and that strategy that ethos that translates into say 471 00:23:42,960 --> 00:23:44,560 Speaker 3: entrepreneurs and the other folks who are going to be 472 00:23:44,640 --> 00:23:45,640 Speaker 3: using the driven platform. 473 00:23:45,800 --> 00:23:47,520 Speaker 8: Absolutely, it's what we teach. 474 00:23:48,840 --> 00:23:53,159 Speaker 2: We also teach it's important to, as I'm shared right, like, 475 00:23:54,560 --> 00:23:59,200 Speaker 2: assess where you're at, where you were, why you made 476 00:23:59,280 --> 00:24:02,040 Speaker 2: a certain choice, and once you come to that, then 477 00:24:02,080 --> 00:24:04,040 Speaker 2: it's time to push past it and move forward and. 478 00:24:04,000 --> 00:24:04,560 Speaker 8: Make a plan. 479 00:24:05,359 --> 00:24:07,240 Speaker 4: So I have one final question for you. Let's say 480 00:24:07,240 --> 00:24:10,160 Speaker 4: Elon Musk comes over to you and is in need 481 00:24:10,200 --> 00:24:13,480 Speaker 4: of some personal training of the mind, not just physically, 482 00:24:13,920 --> 00:24:19,920 Speaker 4: although maybe that he's in Texas or in Texas you're 483 00:24:19,960 --> 00:24:22,280 Speaker 4: working with entrepreneurs. What would you say to him would 484 00:24:22,320 --> 00:24:23,720 Speaker 4: be a piece of advice you'd give to him. 485 00:24:24,720 --> 00:24:27,040 Speaker 2: I mean, I think it would be similar to what 486 00:24:27,080 --> 00:24:30,719 Speaker 2: I share with the athletes, right, that the platform that 487 00:24:30,800 --> 00:24:34,800 Speaker 2: you have is for a season, right, and the lives 488 00:24:34,840 --> 00:24:40,320 Speaker 2: that you can impact negatively and positively will ultimately be 489 00:24:40,680 --> 00:24:43,399 Speaker 2: what you're remembered as and who you're remembered as. And 490 00:24:43,440 --> 00:24:45,440 Speaker 2: I think when you really really sit back and look 491 00:24:45,440 --> 00:24:49,520 Speaker 2: in the mirror in that, yeah, it'd be easier to 492 00:24:49,640 --> 00:24:50,119 Speaker 2: embrace it. 493 00:24:50,160 --> 00:24:54,160 Speaker 5: All that was Marion Jones speaking with our Scarlett fou 494 00:24:54,240 --> 00:24:57,520 Speaker 5: and Remain Bostic. Up next on the show, we speak 495 00:24:57,560 --> 00:25:01,639 Speaker 5: with French American former four time NBA champion Tony Parker 496 00:25:01,880 --> 00:25:05,120 Speaker 5: along with the president of Alibaba dot Com Kuo Zang, 497 00:25:05,520 --> 00:25:07,919 Speaker 5: on their partnership for the Summer Games in Paris. 498 00:25:08,040 --> 00:25:10,800 Speaker 6: For me, it's a big honor, you know, to partner 499 00:25:10,840 --> 00:25:15,040 Speaker 6: with Ali Baba on a very important subject for us 500 00:25:15,119 --> 00:25:18,200 Speaker 6: as athletes, what we're going to do after our career. 501 00:25:18,560 --> 00:25:21,200 Speaker 6: It can be very scary. You know, a lot of athletes, 502 00:25:21,240 --> 00:25:23,200 Speaker 6: you know, we've been doing the same thing for like 503 00:25:23,359 --> 00:25:26,400 Speaker 6: twenty thirty forty years and then we have to retire 504 00:25:26,400 --> 00:25:28,439 Speaker 6: and we have to think about the afterlife. And so 505 00:25:29,800 --> 00:25:33,600 Speaker 6: what they put together Alibaba with that Business Accelerator is 506 00:25:33,720 --> 00:25:37,760 Speaker 6: just to educate and help the athletes to be more efficient, 507 00:25:37,800 --> 00:25:39,800 Speaker 6: you know, with a business straight ahead. 508 00:25:40,040 --> 00:25:43,399 Speaker 5: On the Bloomberg Business of Sports, I'm Damian Sasaur along 509 00:25:43,440 --> 00:25:46,400 Speaker 5: with Vanessa Pernomo, and this is Bloomberg. 510 00:25:56,560 --> 00:25:59,880 Speaker 10: With the Bloomberg Small Business Report, I'm Dan Schwartzman. As 511 00:26:00,000 --> 00:26:02,880 Speaker 10: electronic payment methods such as Zell, Venmo and cash app 512 00:26:02,960 --> 00:26:06,360 Speaker 10: continue to gain popularity, the question becomes will the government 513 00:26:06,400 --> 00:26:09,320 Speaker 10: regulate it? As a US Senate committee debated how to 514 00:26:09,400 --> 00:26:13,040 Speaker 10: characterize the free service, small businesses continue to rely on 515 00:26:13,040 --> 00:26:16,040 Speaker 10: the payment methods. As peer to peer payments globally hit 516 00:26:16,080 --> 00:26:19,639 Speaker 10: two point seven trillion dollars last year, with projections saying 517 00:26:19,720 --> 00:26:22,840 Speaker 10: that amount could reach over eight trillion by twenty thirty. 518 00:26:23,240 --> 00:26:26,200 Speaker 10: As electronic wallet thefts increased the tune of three hundred 519 00:26:26,240 --> 00:26:29,520 Speaker 10: and seventy million dollars just with Zell. The government is 520 00:26:29,600 --> 00:26:33,840 Speaker 10: deciding who is responsible when electronic wallets are targeted by fraudsters. 521 00:26:34,240 --> 00:26:37,159 Speaker 10: Banks argue that the payments made electronically are no different 522 00:26:37,160 --> 00:26:39,720 Speaker 10: than cash, while others say that they're more like credit 523 00:26:39,800 --> 00:26:43,280 Speaker 10: or debit card transactions, which have more protections. With those 524 00:26:43,320 --> 00:26:46,680 Speaker 10: added protections, though, come fees which could limit profits for 525 00:26:46,760 --> 00:26:50,000 Speaker 10: small businesses. That's your Bloomberg Small Business Report. 526 00:26:51,000 --> 00:26:55,560 Speaker 7: You're listening to Bloomberg Business of Sports from Bloomberg Radio. 527 00:26:56,840 --> 00:26:59,320 Speaker 5: This is the Bloomberg Business of Sports show, where we 528 00:26:59,440 --> 00:27:02,240 Speaker 5: explored the any big money issues in the world of sports. 529 00:27:02,600 --> 00:27:05,199 Speaker 5: I'm Damien sas how are along with Business of Sports 530 00:27:05,200 --> 00:27:09,680 Speaker 5: reporter Vanessa Perdomo from the Summer Games in Paris, Michael 531 00:27:09,680 --> 00:27:13,240 Speaker 5: bars off this week, and scarlettfu Is on assignment. The 532 00:27:13,240 --> 00:27:15,360 Speaker 5: Summer Games in Paris are still underway and it's been 533 00:27:15,400 --> 00:27:19,879 Speaker 5: no doubt a amazing, amazing event. Earlier this month, we 534 00:27:20,000 --> 00:27:24,359 Speaker 5: learned that Olympian and four time NBA champion Tony Parker 535 00:27:24,480 --> 00:27:26,960 Speaker 5: was named the face of ali Baba dot Com at 536 00:27:26,960 --> 00:27:30,080 Speaker 5: this year's games, and we are talking about it with 537 00:27:30,600 --> 00:27:36,560 Speaker 5: Tony Parker and Kuozang, president of ali Baba dot Com. Gentlemen, 538 00:27:36,640 --> 00:27:38,560 Speaker 5: welcome to the Bloomberg Business of Sports. 539 00:27:38,760 --> 00:27:40,360 Speaker 6: Thank you, Damien, thanks for having us. 540 00:27:40,560 --> 00:27:42,879 Speaker 5: So you are in Paris now and I'm going to 541 00:27:42,920 --> 00:27:44,920 Speaker 5: begin with you. Ku Oh, what I'd really love for 542 00:27:44,960 --> 00:27:46,439 Speaker 5: you to talk about. I know AI has been a 543 00:27:46,440 --> 00:27:50,160 Speaker 5: big theme for Ali Baba during this Olympics. I would 544 00:27:50,160 --> 00:27:52,800 Speaker 5: love to hear a little bit more about Wonder Avenue, 545 00:27:53,000 --> 00:27:56,240 Speaker 5: about the Champolisse showcase. Talk to us a little bit 546 00:27:56,280 --> 00:28:00,359 Speaker 5: about the role AI is having in transforming not just 547 00:28:00,400 --> 00:28:03,639 Speaker 5: the Olympics themselves, but the broadcast in distribution of this 548 00:28:03,680 --> 00:28:04,880 Speaker 5: year's Olympics. 549 00:28:05,800 --> 00:28:09,040 Speaker 11: Actually for the revenue numbers that we cannot give you 550 00:28:09,040 --> 00:28:11,840 Speaker 11: a kind of exact number now, but I can see 551 00:28:11,880 --> 00:28:15,399 Speaker 11: that there's a lot of a boost of sales in 552 00:28:15,440 --> 00:28:20,320 Speaker 11: the kind of Olympics around the equipment, like people buy 553 00:28:20,440 --> 00:28:24,080 Speaker 11: a lot of TVs, projectors and all the kind of 554 00:28:24,280 --> 00:28:27,000 Speaker 11: screens that to enjoy the game. I think that's one 555 00:28:27,080 --> 00:28:30,600 Speaker 11: and also all the series around the sports. And you know, 556 00:28:30,680 --> 00:28:35,320 Speaker 11: we sponsor Olympics for at least more than seven years now, 557 00:28:35,840 --> 00:28:42,040 Speaker 11: and we started from twenty seventeens. And the first act 558 00:28:42,080 --> 00:28:45,320 Speaker 11: that the Alibaba Group is helping to transform Olympics into 559 00:28:45,360 --> 00:28:48,240 Speaker 11: the digital area and for this year actually we are 560 00:28:48,240 --> 00:28:52,560 Speaker 11: working together with IOCs to help to transform the athlete 561 00:28:53,200 --> 00:28:56,360 Speaker 11: into the entrepreneurs in the digital area as well. So 562 00:28:56,400 --> 00:28:59,200 Speaker 11: that's why that we're sitting here with Tony and this 563 00:28:59,480 --> 00:29:03,160 Speaker 11: LCS Olympic and to see that how we can use 564 00:29:03,240 --> 00:29:06,880 Speaker 11: our technology and the business support to help the athletes 565 00:29:06,920 --> 00:29:09,040 Speaker 11: here after their professional crib. 566 00:29:09,560 --> 00:29:11,600 Speaker 9: Yeah, exactly. I would love to, you know, get your 567 00:29:11,600 --> 00:29:13,920 Speaker 9: take on that, Tony. You know, with this partnership and 568 00:29:14,680 --> 00:29:20,120 Speaker 9: having Ali Baba, they're now supporting athletes and this Athlete 569 00:29:20,160 --> 00:29:23,240 Speaker 9: three sixty five initiative where you know, athletes are really 570 00:29:23,240 --> 00:29:25,640 Speaker 9: thinking about their career and transition. How important do you 571 00:29:25,640 --> 00:29:28,360 Speaker 9: think that is and how significant is that for especially 572 00:29:28,520 --> 00:29:32,080 Speaker 9: Olympic athletes who not everyone has like these million dollar sponsorships. 573 00:29:32,480 --> 00:29:36,920 Speaker 6: Yeah, Vanessa is huge and for me, it's a big honor, 574 00:29:37,000 --> 00:29:39,760 Speaker 6: you know, to partner with Ali Baba on a very 575 00:29:40,680 --> 00:29:44,080 Speaker 6: important subject for us as athletes, what we're going to 576 00:29:44,200 --> 00:29:47,360 Speaker 6: do after our career. It can be very scary. You 577 00:29:47,360 --> 00:29:49,320 Speaker 6: know a lot of athletes, you know, we've been doing 578 00:29:49,400 --> 00:29:52,400 Speaker 6: the same thing for like twenty thirty forty years and 579 00:29:52,440 --> 00:29:54,200 Speaker 6: then we have to retire and we have to think 580 00:29:54,240 --> 00:29:58,080 Speaker 6: about the afterlife. And so what they put together Ali 581 00:29:58,120 --> 00:30:02,080 Speaker 6: Baba with that business Accelerator is just to educate and 582 00:30:02,200 --> 00:30:05,240 Speaker 6: help athletes to be more efficient, you know, with a 583 00:30:05,360 --> 00:30:08,120 Speaker 6: business and anything they want to do. You know, you 584 00:30:08,160 --> 00:30:10,040 Speaker 6: have to start with a passion. You know, you have 585 00:30:10,080 --> 00:30:13,920 Speaker 6: to be passionate about something and then put in the work. 586 00:30:13,960 --> 00:30:17,000 Speaker 6: And it's hard sometimes you don't know where to start 587 00:30:17,080 --> 00:30:20,479 Speaker 6: and how to do it. And so that program, the 588 00:30:20,480 --> 00:30:25,840 Speaker 6: Business Accelerator, is definitely going to help you be successful 589 00:30:26,080 --> 00:30:28,520 Speaker 6: in business and is the main reason why I wanted 590 00:30:28,520 --> 00:30:32,000 Speaker 6: to do that partnership. And I'm very glad that we're 591 00:30:32,000 --> 00:30:33,920 Speaker 6: doing it. You know, I have my academy in Paris 592 00:30:34,000 --> 00:30:35,320 Speaker 6: and we're going to do a lot of stuff with 593 00:30:35,800 --> 00:30:38,440 Speaker 6: Ali Baba and the main thing is to help our 594 00:30:38,480 --> 00:30:42,720 Speaker 6: athletes have a great future and a great life after 595 00:30:42,760 --> 00:30:43,680 Speaker 6: their sports career. 596 00:30:44,240 --> 00:30:46,200 Speaker 5: Well, Tony, for our audience, I wonder if you could, 597 00:30:46,280 --> 00:30:48,640 Speaker 5: you know, share a little bit about your experiences after 598 00:30:48,680 --> 00:30:51,480 Speaker 5: the NBA. I know you're a majority owner in French 599 00:30:51,480 --> 00:30:54,040 Speaker 5: basketball team as well basket. I know at one point 600 00:30:54,120 --> 00:30:57,640 Speaker 5: you were a three percent owner of the Seattle Rain. 601 00:30:57,840 --> 00:30:59,480 Speaker 5: I mean, talk to us a little bit about those 602 00:30:59,520 --> 00:31:02,560 Speaker 5: experience is and how that's kind of helped prepare you 603 00:31:03,040 --> 00:31:04,320 Speaker 5: for what you're doing today. 604 00:31:04,960 --> 00:31:07,280 Speaker 6: But my parents did a great job to always tell me, 605 00:31:07,320 --> 00:31:10,320 Speaker 6: you know, a sports career can be very short. You know, 606 00:31:10,360 --> 00:31:13,640 Speaker 6: the average in NBA is five years. I was very blessed, 607 00:31:13,680 --> 00:31:16,200 Speaker 6: you know, to play twenty two seasons as a professional 608 00:31:16,280 --> 00:31:19,600 Speaker 6: basketball player. But I always prepare myself during my career. 609 00:31:19,680 --> 00:31:21,400 Speaker 6: You know, I had some great advice and one of 610 00:31:21,440 --> 00:31:24,480 Speaker 6: the best ones was Magic Johnson. You know, he told me, 611 00:31:24,560 --> 00:31:28,040 Speaker 6: you know, built your network. Why are you playing while 612 00:31:28,040 --> 00:31:31,720 Speaker 6: you active? Because if you wait when you retire, people 613 00:31:31,760 --> 00:31:34,440 Speaker 6: forget about your real fast. And that's what I did. 614 00:31:34,680 --> 00:31:37,680 Speaker 6: While I was playing. I was creating my network and 615 00:31:37,720 --> 00:31:40,120 Speaker 6: go to dinners with different CEOs, and I was being 616 00:31:40,120 --> 00:31:43,120 Speaker 6: a sponge and learning a lot. And I invest in 617 00:31:43,120 --> 00:31:45,680 Speaker 6: that basketball team very early. I was twenty seven when 618 00:31:45,680 --> 00:31:48,280 Speaker 6: I invest in the team above the men's team, above 619 00:31:48,320 --> 00:31:51,840 Speaker 6: the women's team. And then I built the academy, and 620 00:31:51,880 --> 00:31:54,920 Speaker 6: then I created my group, and so I was very 621 00:31:55,000 --> 00:31:58,240 Speaker 6: very active, and that's why I didn't really feel that 622 00:31:58,400 --> 00:32:00,880 Speaker 6: depression when I retire. Actually, I had one more year 623 00:32:01,080 --> 00:32:03,640 Speaker 6: left in my contract when I retired, and I called 624 00:32:03,840 --> 00:32:06,320 Speaker 6: Michael Jordan, who was my boss at the time, and 625 00:32:06,400 --> 00:32:07,840 Speaker 6: I was like, you know what I'm not going to 626 00:32:07,880 --> 00:32:10,520 Speaker 6: do my last year. I was excited. I was looking 627 00:32:10,560 --> 00:32:13,440 Speaker 6: forward to the business and I really enjoying my life 628 00:32:13,480 --> 00:32:15,280 Speaker 6: right now, It's been five years and I'm retired and 629 00:32:15,480 --> 00:32:16,720 Speaker 6: it's been unbelievable. 630 00:32:17,080 --> 00:32:18,640 Speaker 5: Mister saying, I want to come back to you and 631 00:32:18,680 --> 00:32:20,680 Speaker 5: talk a little bit about Ali Baba and their role 632 00:32:20,720 --> 00:32:23,760 Speaker 5: at the Olympics this year. We know, you know, Chairman 633 00:32:23,840 --> 00:32:26,720 Speaker 5: Joe Tsai also himself is an owner of you know, 634 00:32:26,880 --> 00:32:29,320 Speaker 5: professional sports franchises like the Brooklyn Nets and the New 635 00:32:29,400 --> 00:32:31,840 Speaker 5: York Liberty. You know, talk to us about you know, 636 00:32:31,880 --> 00:32:34,000 Speaker 5: Ali Baba's role not just at the Olympics, but more 637 00:32:34,000 --> 00:32:37,680 Speaker 5: broadly speaking in sports globally. You know, what role do 638 00:32:37,720 --> 00:32:39,920 Speaker 5: you for see Ali Baba playing, you know, in the 639 00:32:39,920 --> 00:32:42,920 Speaker 5: world of professional sports going forward. 640 00:32:43,400 --> 00:32:46,880 Speaker 11: I started from this kind of access to Serious x five. 641 00:32:47,480 --> 00:32:50,680 Speaker 11: So before we kind of start this kind of program, 642 00:32:50,760 --> 00:32:54,080 Speaker 11: we do a lot of service. Actually, we ask around 643 00:32:54,400 --> 00:32:59,000 Speaker 11: four hundred former athletes from US and from UK about 644 00:32:59,120 --> 00:33:04,000 Speaker 11: their stories, about their plans, and we figure that the 645 00:33:04,120 --> 00:33:08,479 Speaker 11: athletes and the successful entrepreneurs actually have many things in common, 646 00:33:08,880 --> 00:33:14,880 Speaker 11: like passion Tony just mentioned, like a resilience, discipline, push 647 00:33:14,920 --> 00:33:18,440 Speaker 11: the boundary, go oriented. Actually, these kind of things actually 648 00:33:18,520 --> 00:33:23,000 Speaker 11: the characteristics that successful entrepreneurs should have, and we already 649 00:33:23,520 --> 00:33:26,840 Speaker 11: have a lot of successful case on alabaura dot com 650 00:33:26,880 --> 00:33:29,520 Speaker 11: who is using all about dot com as platform to sourcing, 651 00:33:29,600 --> 00:33:32,600 Speaker 11: to fund partners or to sell or to resell a product. 652 00:33:33,120 --> 00:33:36,360 Speaker 11: So that's why that we want to extend this kind 653 00:33:36,360 --> 00:33:41,480 Speaker 11: of support this Olympics with lcs to get more and 654 00:33:41,560 --> 00:33:45,280 Speaker 11: more kind of athletes attract to this digital based area. 655 00:33:45,360 --> 00:33:49,640 Speaker 11: And we believe that these athletes, if they are successful, 656 00:33:50,000 --> 00:33:53,560 Speaker 11: are going to be super impact in the business world 657 00:33:53,640 --> 00:33:56,080 Speaker 11: as well, since they are the leading examples to the 658 00:33:56,200 --> 00:33:59,560 Speaker 11: use and the leaving example to the younger generation. And 659 00:33:59,720 --> 00:34:03,040 Speaker 11: since they are successful, we prove that anybody can be 660 00:34:03,080 --> 00:34:06,680 Speaker 11: successful alibout dot com and that's our kind of mission 661 00:34:06,960 --> 00:34:09,160 Speaker 11: to make it easy to do business anywhere. So that's 662 00:34:09,160 --> 00:34:13,440 Speaker 11: why we have passionate to kind of sponsor this program 663 00:34:13,600 --> 00:34:17,320 Speaker 11: and we believe that together that we can give athletes 664 00:34:17,400 --> 00:34:22,040 Speaker 11: a bathter transition after their professional career in spots. 665 00:34:23,320 --> 00:34:25,120 Speaker 5: Tony switching back to you, you know, I just have 666 00:34:25,160 --> 00:34:27,480 Speaker 5: to ask you this question. You know, you mentioned Magic Johnson, 667 00:34:27,520 --> 00:34:30,759 Speaker 5: you mentioned Michael Jordan and these NBA greats you know, 668 00:34:30,920 --> 00:34:33,839 Speaker 5: I know, and you played with Tim Duncan, big Shot Rob, 669 00:34:33,880 --> 00:34:35,399 Speaker 5: you know these names. I mean, I'm sure you still 670 00:34:35,480 --> 00:34:37,399 Speaker 5: keep in touch with many of them. But when you're 671 00:34:37,440 --> 00:34:40,279 Speaker 5: in bed alone at night, do you and you're laying 672 00:34:40,280 --> 00:34:42,319 Speaker 5: awake there, I mean, who is the point guard that 673 00:34:42,400 --> 00:34:44,080 Speaker 5: you had to face up against? I just have to 674 00:34:44,120 --> 00:34:46,040 Speaker 5: ask you that that kept you up at night? Is 675 00:34:46,080 --> 00:34:48,120 Speaker 5: it Jason Kidd? Is it Steve Nash? I mean, who 676 00:34:48,160 --> 00:34:51,040 Speaker 5: do you still think about although these many years later 677 00:34:51,080 --> 00:34:51,840 Speaker 5: after you've retired. 678 00:34:53,040 --> 00:34:57,319 Speaker 6: Yeah, No, I think for me and my generation, it 679 00:34:57,440 --> 00:35:00,000 Speaker 6: was more like you said, Jason kidds Steve Nash, Chris Paul. 680 00:35:00,200 --> 00:35:03,040 Speaker 6: That was the top three that I was battling every 681 00:35:03,120 --> 00:35:05,560 Speaker 6: year to try to be there the best point guard 682 00:35:05,560 --> 00:35:07,920 Speaker 6: in the NBA. And so I was very lucky. It 683 00:35:07,960 --> 00:35:11,080 Speaker 6: was a golden era because then you know Steph Curry 684 00:35:11,200 --> 00:35:13,759 Speaker 6: arrive and Russell Westbrook and you have a lot of 685 00:35:13,760 --> 00:35:15,680 Speaker 6: great point guards. When I was playing. 686 00:35:15,920 --> 00:35:18,200 Speaker 5: Last question for you, Kuo, I mean we know Ali 687 00:35:18,239 --> 00:35:22,160 Speaker 5: Baba is the big elephants in China, the biggest business 688 00:35:22,200 --> 00:35:26,360 Speaker 5: to business commerce website in the world, generating three billion 689 00:35:26,360 --> 00:35:29,279 Speaker 5: dollars a year, connects over two hundred thousand suppliers to 690 00:35:29,360 --> 00:35:30,920 Speaker 5: forty eight million buyers. 691 00:35:30,920 --> 00:35:31,840 Speaker 8: I mean amazing. 692 00:35:32,320 --> 00:35:34,399 Speaker 5: Talk to us a little bit about what comes next 693 00:35:34,400 --> 00:35:36,719 Speaker 5: for the company. Obviously the world is shifting under our 694 00:35:36,719 --> 00:35:39,400 Speaker 5: feet here. You know, once the Olympics is over and 695 00:35:39,440 --> 00:35:41,320 Speaker 5: you have to get back to your day job, what 696 00:35:41,760 --> 00:35:43,240 Speaker 5: are you going to be focused on most? 697 00:35:43,880 --> 00:35:47,000 Speaker 11: There are three things that we are focusing most. The 698 00:35:47,080 --> 00:35:50,600 Speaker 11: first thing is about AI. So AI now is kind 699 00:35:50,600 --> 00:35:53,279 Speaker 11: of the technology we believe is going to kind of 700 00:35:53,480 --> 00:35:57,160 Speaker 11: shift oury perspective in business, especially. 701 00:35:56,719 --> 00:35:57,720 Speaker 6: For the global sourcing. 702 00:35:58,160 --> 00:36:00,880 Speaker 11: It can solve a lot of problems from kind of 703 00:36:01,000 --> 00:36:05,440 Speaker 11: language barrier to how they kind of more efficiently to 704 00:36:05,560 --> 00:36:09,480 Speaker 11: run their product, run their kind of marketing. And today 705 00:36:09,520 --> 00:36:12,799 Speaker 11: actually we launch a new product is kind of the 706 00:36:12,840 --> 00:36:16,520 Speaker 11: next generation of search engine. It's instead of kind of 707 00:36:16,640 --> 00:36:22,080 Speaker 11: passive kind of traditional search engine, you ask keywords and 708 00:36:22,320 --> 00:36:25,480 Speaker 11: get the links. It's kind of a co work with 709 00:36:26,160 --> 00:36:29,920 Speaker 11: the buyers together. And since you can ask in natural 710 00:36:30,000 --> 00:36:34,080 Speaker 11: language and we can come up with results and conversational 711 00:36:34,200 --> 00:36:37,920 Speaker 11: kind of approach, we can give you from inspirations and 712 00:36:38,120 --> 00:36:41,440 Speaker 11: to the kind of specific suggestions and help you to 713 00:36:41,520 --> 00:36:45,959 Speaker 11: compare among different products among different suppliers, so you can 714 00:36:46,080 --> 00:36:50,200 Speaker 11: kind of select your best partners among millions of different choices. 715 00:36:50,520 --> 00:36:53,040 Speaker 11: So that is for the AI part. The second part 716 00:36:53,080 --> 00:36:59,239 Speaker 11: is about the digitalized supply chains since globalization in the 717 00:36:59,400 --> 00:37:01,839 Speaker 11: end that you need to get since then you need 718 00:37:01,880 --> 00:37:04,000 Speaker 11: to kind of pay the money and receive the product 719 00:37:04,280 --> 00:37:07,120 Speaker 11: or you want to sell. So global treating has a 720 00:37:07,160 --> 00:37:10,200 Speaker 11: lot of kind of moving parts and challenges from the 721 00:37:10,280 --> 00:37:15,160 Speaker 11: payment to the logistics to the customer clearance after sales services. 722 00:37:15,320 --> 00:37:17,840 Speaker 11: So we would like to kind of provide a series 723 00:37:17,960 --> 00:37:21,040 Speaker 11: we call Alibaba Guarantee, so we will shoulder all these 724 00:37:21,120 --> 00:37:24,400 Speaker 11: challenges so the buyers and sellers they can only focusing 725 00:37:24,400 --> 00:37:28,200 Speaker 11: on their business, perfecting their products, sealing up their market 726 00:37:28,840 --> 00:37:31,480 Speaker 11: and Sir, but not the least is about the globalization 727 00:37:32,080 --> 00:37:35,200 Speaker 11: the supplies. So we want to have more than one 728 00:37:35,280 --> 00:37:41,880 Speaker 11: hundred thousand supplies actually globally in sociast Asia, in Europe, 729 00:37:42,080 --> 00:37:45,600 Speaker 11: in Latin American, in US. So when the buyers they 730 00:37:45,640 --> 00:37:49,000 Speaker 11: want to fund the supplies, they can fund their partners 731 00:37:49,040 --> 00:37:52,120 Speaker 11: near and far to kind of fulfill their demands. So 732 00:37:52,160 --> 00:37:55,920 Speaker 11: adding together these three pillars actually are the most important 733 00:37:56,040 --> 00:37:58,560 Speaker 11: strategies that we're looking focusing on moving forward. 734 00:37:59,080 --> 00:38:03,200 Speaker 5: Tony Parker, NBA Hall of Fame, point Guard, brand Ambassador 735 00:38:03,239 --> 00:38:06,440 Speaker 5: for Alibaba dot Com, four time NBA Champion with the 736 00:38:06,440 --> 00:38:12,400 Speaker 5: San Antonio Spurs and Kuozang, President of Alibaba dot Com. Gentlemen, 737 00:38:12,440 --> 00:38:15,000 Speaker 5: thank you so much for joining us here on the 738 00:38:15,040 --> 00:38:16,280 Speaker 5: Bloomberg Business of Sports. 739 00:38:16,520 --> 00:38:18,680 Speaker 6: Thank you, Damien, thank you, Vanessa, thank. 740 00:38:18,520 --> 00:38:21,480 Speaker 5: Thank you, and our thanks again to Bloomberg US sports 741 00:38:21,480 --> 00:38:24,759 Speaker 5: reporter Randall Williams and of course to Vanessa Perdomer for 742 00:38:24,800 --> 00:38:27,120 Speaker 5: picking up co hosting duties this week, and thank you 743 00:38:27,680 --> 00:38:30,000 Speaker 5: for joining us. Tune in again next week for the 744 00:38:30,080 --> 00:38:33,200 Speaker 5: latest of the stories moving big money in the world 745 00:38:33,280 --> 00:38:36,239 Speaker 5: of sports. I'm Damian Sasauer. You've been listening to the 746 00:38:36,280 --> 00:38:40,760 Speaker 5: Bloomberg Business of Sports from Bloomberg Radio around the world.