1
00:00:02,480 --> 00:00:07,000
Speaker 1: Bloomberg Audio Studios, podcasts, radio news.

2
00:00:07,920 --> 00:00:10,840
Speaker 2: This set of rules is here with us for five years,

3
00:00:10,880 --> 00:00:14,320
Speaker 2: so it's not about the first racer too, it's about

4
00:00:14,360 --> 00:00:18,079
Speaker 2: the next five years. Again, extremely confident. We have the

5
00:00:18,200 --> 00:00:20,400
Speaker 2: right people, we have the right tools, we have the

6
00:00:20,480 --> 00:00:23,400
Speaker 2: right processes, we have the right partners. So I'm very

7
00:00:23,400 --> 00:00:26,000
Speaker 2: confident for extremely confident for our future.

8
00:00:26,239 --> 00:00:28,640
Speaker 3: So that was Laurence Stroll, the billionaire owner of the

9
00:00:28,680 --> 00:00:31,240
Speaker 3: Aston Martin Aramco F one team. He sat down with

10
00:00:31,280 --> 00:00:33,480
Speaker 3: me earlier to talk about his confidence in his team

11
00:00:33,560 --> 00:00:39,159
Speaker 3: leading the high stakes motorsports category, but he faces challengers

12
00:00:39,200 --> 00:00:42,479
Speaker 3: including General Motors Cadillac, which just unveiled it's four and

13
00:00:42,520 --> 00:00:45,520
Speaker 3: to F one with a splashy Super Bowl commercial featuring

14
00:00:45,880 --> 00:00:48,479
Speaker 3: the new Livery and joining us now live on the

15
00:00:48,479 --> 00:00:51,720
Speaker 3: set is Dan Towers, the CEO of Cadillac Formula one

16
00:00:52,040 --> 00:00:57,280
Speaker 3: and this is a high stakes league here. Dan, very

17
00:00:57,280 --> 00:01:01,120
Speaker 3: cool to see Cadillac GM coming in to this sport,

18
00:01:01,200 --> 00:01:03,960
Speaker 3: especially at the same time as Ford, its crosstown rival,

19
00:01:04,080 --> 00:01:05,600
Speaker 3: enters the scene.

20
00:01:05,600 --> 00:01:06,520
Speaker 1: But tell us.

21
00:01:06,440 --> 00:01:09,479
Speaker 3: About what your expectations are now, because you've had testing

22
00:01:09,560 --> 00:01:12,039
Speaker 3: If I'm not mistaken in Barcelona and you're just about

23
00:01:12,040 --> 00:01:14,000
Speaker 3: have testing in Bahrain with your yes.

24
00:01:14,040 --> 00:01:16,720
Speaker 4: So for us, Barcelona was mostly shakedown, so it's testing

25
00:01:16,760 --> 00:01:19,399
Speaker 4: a lot of new systems and everybody's talked about the

26
00:01:19,400 --> 00:01:21,479
Speaker 4: fact that it's a new chassis, so a new set

27
00:01:21,480 --> 00:01:24,679
Speaker 4: of regulations, new tires, new power units. But for us,

28
00:01:24,760 --> 00:01:26,880
Speaker 4: for Cadillac, we're building everything for the first time, the

29
00:01:26,920 --> 00:01:29,960
Speaker 4: fuel system, you know, just all the pieces on the car,

30
00:01:30,120 --> 00:01:32,440
Speaker 4: and so a lot of it was just reliability focused.

31
00:01:32,600 --> 00:01:34,920
Speaker 4: As we go into Bahrain this week, we're very excited.

32
00:01:34,920 --> 00:01:36,440
Speaker 4: It's now start to push the limits of the car

33
00:01:36,520 --> 00:01:38,520
Speaker 4: and to see what we see what we have.

34
00:01:38,959 --> 00:01:42,480
Speaker 3: You have incredibly experienced drivers right in valcher Botas and

35
00:01:42,640 --> 00:01:45,479
Speaker 3: Sergio Perez. What did they make of the car? And

36
00:01:46,360 --> 00:01:47,960
Speaker 3: you know what kind of feedback did you get from

37
00:01:47,960 --> 00:01:48,840
Speaker 3: those superstars?

38
00:01:48,960 --> 00:01:50,960
Speaker 4: I think some of their feedback similar to the other drivers.

39
00:01:50,960 --> 00:01:53,240
Speaker 4: There's a lot less load under the set of regulations

40
00:01:53,240 --> 00:01:55,480
Speaker 4: on this car, which just means there's less downforce. The

41
00:01:55,520 --> 00:01:57,200
Speaker 4: car is going to feel a little slippier to drive,

42
00:01:57,800 --> 00:01:59,440
Speaker 4: and it's going to be a whole new technique as

43
00:01:59,440 --> 00:02:02,160
Speaker 4: they figure how to use this power unit with the

44
00:02:02,160 --> 00:02:05,240
Speaker 4: electrication piece and the combustion piece, you know, combined. So

45
00:02:05,240 --> 00:02:08,120
Speaker 4: again it's a very different. It's a very different car

46
00:02:08,200 --> 00:02:10,200
Speaker 4: to drive this year, and so everybody's in a big

47
00:02:10,280 --> 00:02:11,160
Speaker 4: learning curve right now.

48
00:02:11,639 --> 00:02:13,919
Speaker 1: And I mean to that point, to that learning curve,

49
00:02:13,960 --> 00:02:15,760
Speaker 1: you're a newcomer in this space. I know that you've

50
00:02:15,800 --> 00:02:19,040
Speaker 1: said previously that you want to be America's team in

51
00:02:19,280 --> 00:02:21,200
Speaker 1: F one, and I wonder, you know what you see

52
00:02:21,200 --> 00:02:23,919
Speaker 1: that looking like if your vision is actualized.

53
00:02:24,200 --> 00:02:26,919
Speaker 4: So it's really leaning into you know, a new fan base.

54
00:02:26,960 --> 00:02:29,840
Speaker 4: If you think about the success that Drives to Survive

55
00:02:29,880 --> 00:02:32,120
Speaker 4: has had or F one the movie which just you know,

56
00:02:32,240 --> 00:02:34,960
Speaker 4: crushed every record, it's created a lot of F one

57
00:02:35,040 --> 00:02:36,880
Speaker 4: curius fans in the US. And that was really the

58
00:02:36,919 --> 00:02:39,880
Speaker 4: thought behind the super Bowl commercial. It's a big stage

59
00:02:40,000 --> 00:02:41,680
Speaker 4: and we wanted to get to people that don't maybe

60
00:02:41,680 --> 00:02:44,000
Speaker 4: consume F one every day. If I want to speak

61
00:02:44,200 --> 00:02:47,160
Speaker 4: to the diehard motorsport fan, it's very easy to that.

62
00:02:47,320 --> 00:02:50,639
Speaker 4: You know, media ecosystem is very developed. The super Bowl

63
00:02:50,720 --> 00:02:53,680
Speaker 4: let us, you know, create a conversation about Cadillac Formula

64
00:02:53,680 --> 00:02:56,400
Speaker 4: one to people who, like I said, saw the movie,

65
00:02:56,440 --> 00:02:59,320
Speaker 4: thought it was interesting and say wait this this team's

66
00:02:59,320 --> 00:03:01,480
Speaker 4: going to be on track in thirty days. I need

67
00:03:01,520 --> 00:03:02,480
Speaker 4: to check this out.

68
00:03:02,680 --> 00:03:04,919
Speaker 1: Well, That gets a little bit to what I was wondering,

69
00:03:05,000 --> 00:03:07,760
Speaker 1: which is why is Super Bowl commercial? I mean, you

70
00:03:07,800 --> 00:03:09,840
Speaker 1: take a look at some of the numbers. On average,

71
00:03:09,880 --> 00:03:12,360
Speaker 1: I believe super Bowl ads were eight million dollars. We

72
00:03:12,440 --> 00:03:15,200
Speaker 1: heard some reports that they got to ten million dollars

73
00:03:15,480 --> 00:03:18,040
Speaker 1: for thirty seconds. I mean, why was it important to

74
00:03:18,520 --> 00:03:21,480
Speaker 1: sort of have your debut at the Super Bowl so

75
00:03:21,520 --> 00:03:22,040
Speaker 1: to speak.

76
00:03:22,120 --> 00:03:24,200
Speaker 4: Yeah, it's really just that big audience. I think it's

77
00:03:24,240 --> 00:03:27,840
Speaker 4: also just you know, it's it's this cultural moment in sports.

78
00:03:27,840 --> 00:03:30,560
Speaker 4: The Super Bowl has become so much you know, about

79
00:03:30,560 --> 00:03:32,720
Speaker 4: the ads as much as the game, you know, depending

80
00:03:32,720 --> 00:03:35,280
Speaker 4: who you talk to. And again, so this let us

81
00:03:35,840 --> 00:03:39,160
Speaker 4: have that platform to reach the F one curius, to

82
00:03:39,160 --> 00:03:42,160
Speaker 4: reach a new fan base for Cadillac Formula One, to

83
00:03:42,200 --> 00:03:44,280
Speaker 4: say that we're coming and let's us kind of put

84
00:03:44,320 --> 00:03:47,160
Speaker 4: that American spin, this bold American team. I mean, what's

85
00:03:47,200 --> 00:03:51,040
Speaker 4: more American than announcing your showing your first ever livery

86
00:03:51,320 --> 00:03:52,280
Speaker 4: than at the Super Bowl.

87
00:03:52,440 --> 00:03:54,840
Speaker 3: Talk to us about the business of Formula One and

88
00:03:54,920 --> 00:03:56,800
Speaker 3: really the business of racing. Because you've been involved in

89
00:03:56,840 --> 00:04:00,880
Speaker 3: motorsports for a solid decade now with Game Ridge, with

90
00:04:01,320 --> 00:04:05,760
Speaker 3: Andretti now a TWG, So how do you make money

91
00:04:05,840 --> 00:04:06,800
Speaker 3: in this sport.

92
00:04:07,160 --> 00:04:08,720
Speaker 4: Well, you know, it starts with growing a fan base,

93
00:04:08,760 --> 00:04:10,840
Speaker 4: which is really was job number one with the Super

94
00:04:10,880 --> 00:04:13,600
Speaker 4: Bowl commercial, building up the fan base, and then you know,

95
00:04:13,680 --> 00:04:16,360
Speaker 4: taking those metrics and reaching out to sponsors and building

96
00:04:16,440 --> 00:04:18,200
Speaker 4: up that piece. And so it's a you know, you

97
00:04:18,200 --> 00:04:20,440
Speaker 4: have a marketing machine. I mean really, when you think

98
00:04:20,440 --> 00:04:23,600
Speaker 4: about today's modern F one, you know it's yeah, you've

99
00:04:23,600 --> 00:04:26,000
Speaker 4: got the team, maybe you have a power unit company.

100
00:04:26,240 --> 00:04:28,839
Speaker 4: You need to have a media company inside your Formula

101
00:04:28,880 --> 00:04:31,279
Speaker 4: one team as well, because you're marketing to the world,

102
00:04:31,360 --> 00:04:34,800
Speaker 4: You're creating content, you're creating, you know, drawing in eyeball's interest,

103
00:04:34,880 --> 00:04:38,240
Speaker 4: you're storytelling, You're doing all those things to create commercial

104
00:04:38,360 --> 00:04:41,360
Speaker 4: value for the team. And that's essential in today's Formula one.

105
00:04:41,400 --> 00:04:43,760
Speaker 3: By the way, Checko and Botas are perfect for that.

106
00:04:43,800 --> 00:04:46,520
Speaker 3: I mean absolutely, Terry is an amazing storyteller in his

107
00:04:46,600 --> 00:04:49,520
Speaker 3: own right. What did you what was your strategy when

108
00:04:49,520 --> 00:04:51,480
Speaker 3: you group these brands together? Because I see like an

109
00:04:51,520 --> 00:04:55,560
Speaker 3: American heritage line here through Jim Bean and Tommy hillfigure

110
00:04:55,600 --> 00:04:56,240
Speaker 3: for example.

111
00:04:56,760 --> 00:04:56,960
Speaker 1: Yeah.

112
00:04:57,000 --> 00:04:59,000
Speaker 4: Absolutely, I think as we think about what does it

113
00:04:59,040 --> 00:05:00,720
Speaker 4: mean to be a you know, a American, we want

114
00:05:00,720 --> 00:05:04,640
Speaker 4: to have these iconic American brands, these American originals that

115
00:05:04,720 --> 00:05:07,520
Speaker 4: really create a you know, a foundational pillar in our

116
00:05:08,279 --> 00:05:11,680
Speaker 4: in our sponsorship ecosystem. And I mean Tommy is fantastic,

117
00:05:11,760 --> 00:05:15,440
Speaker 4: Jim Beam, you know, Cadillac. These are iconic American brands,

118
00:05:15,760 --> 00:05:18,080
Speaker 4: and so we're you know, formula ones of global business.

119
00:05:18,120 --> 00:05:20,120
Speaker 4: So we're going to want to have non American brands

120
00:05:20,360 --> 00:05:22,400
Speaker 4: on the car as well, but we definitely want to

121
00:05:22,400 --> 00:05:24,919
Speaker 4: have those bona fide set up where we're anchored in

122
00:05:25,040 --> 00:05:26,719
Speaker 4: these iconic American brands.

123
00:05:26,920 --> 00:05:29,640
Speaker 3: What do you make of the sort of Win on Sunday,

124
00:05:29,680 --> 00:05:33,640
Speaker 3: Cell on Monday Mantra from the fifties and sixties. I mean,

125
00:05:34,400 --> 00:05:37,240
Speaker 3: GM is getting in a big way back into racing,

126
00:05:37,279 --> 00:05:40,000
Speaker 3: not just an F one. I went to Lamar with

127
00:05:40,160 --> 00:05:43,720
Speaker 3: Mark Royce and crew and watched their hypercar there, which

128
00:05:43,760 --> 00:05:46,480
Speaker 3: was amazing to see. But they also have you know,

129
00:05:47,360 --> 00:05:49,600
Speaker 3: vehicles that nobody else can produce right now. They have

130
00:05:49,640 --> 00:05:51,479
Speaker 3: a super Charge V eight with a stick and the

131
00:05:51,520 --> 00:05:54,040
Speaker 3: CT five V Black Wing, So I'm really pumped about

132
00:05:54,040 --> 00:05:54,720
Speaker 3: their offerings.

133
00:05:55,000 --> 00:05:55,240
Speaker 2: Yeah.

134
00:05:55,279 --> 00:05:57,880
Speaker 4: No, the product line is just as spectacular. It's actually

135
00:05:57,880 --> 00:06:00,440
Speaker 4: actually after one of the F one bar to meetings,

136
00:06:00,520 --> 00:06:02,919
Speaker 4: Cadillac They brought out every car in the lineup and

137
00:06:02,960 --> 00:06:05,279
Speaker 4: we just spent the afternoon driving them. And so the

138
00:06:05,320 --> 00:06:08,159
Speaker 4: product lineup is so strong, and so there's this upward

139
00:06:08,200 --> 00:06:11,080
Speaker 4: mobility from a market share standpoint in Cadillac. It's the

140
00:06:11,120 --> 00:06:14,560
Speaker 4: perfect time to bring Formula one in the Cadillac car

141
00:06:14,640 --> 00:06:15,240
Speaker 4: brand together