1
00:00:00,080 --> 00:00:09,719
Speaker 1: M h. Welcome to Strictly Business Varieties podcasts featuring conversations

2
00:00:09,720 --> 00:00:13,840
Speaker 1: with industry leaders about the business of entertainment. I'm Cynthia Littleton,

3
00:00:14,040 --> 00:00:17,000
Speaker 1: business editor for Variety Today. My guest in New York

4
00:00:17,079 --> 00:00:20,360
Speaker 1: is Jeff Baldez. Jeff has worked in the entertainment industry

5
00:00:20,400 --> 00:00:24,040
Speaker 1: for thirty years. He's a comedian turned producer turned TV

6
00:00:24,320 --> 00:00:28,640
Speaker 1: entrepreneur Remember See TV. Jeff launts that channel as a

7
00:00:28,640 --> 00:00:32,400
Speaker 1: true cable independent back in two thousand four. Jeff has

8
00:00:32,400 --> 00:00:35,120
Speaker 1: been frustrated for years at the slow pace of inclusion

9
00:00:35,200 --> 00:00:38,720
Speaker 1: for Latin X talent at all levels. After studying the issue,

10
00:00:39,240 --> 00:00:42,159
Speaker 1: Jeff and three partners decided to tackle it head on

11
00:00:42,400 --> 00:00:46,320
Speaker 1: as the mission of the newly launched New Cadence Production venture.

12
00:00:46,920 --> 00:00:49,599
Speaker 1: In this interview, Jeff talks about what he sees as

13
00:00:49,640 --> 00:00:53,440
Speaker 1: Hollywood supply chain problem and why corporate America needs to

14
00:00:53,479 --> 00:01:00,800
Speaker 1: take some radical steps to ensure its own future. Jeff Baldez,

15
00:01:00,880 --> 00:01:02,480
Speaker 1: thank you so much for coming to talk with us.

16
00:01:03,000 --> 00:01:05,200
Speaker 1: My pleasure to be here. Thanks for having me. I

17
00:01:05,240 --> 00:01:07,680
Speaker 1: know that you have recently been on an interesting tour

18
00:01:08,040 --> 00:01:12,840
Speaker 1: of talking with very prominent industry leaders and entertainment about

19
00:01:13,480 --> 00:01:19,039
Speaker 1: the persistent lack of meaningful participation of Latinos in the

20
00:01:19,120 --> 00:01:22,760
Speaker 1: entertainment industry at all levels, in front of the camera,

21
00:01:22,880 --> 00:01:27,080
Speaker 1: behind the camera, in the executive suites, in in decision

22
00:01:27,160 --> 00:01:32,120
Speaker 1: making processes. It's that you look at the numbers and

23
00:01:32,160 --> 00:01:34,600
Speaker 1: it is just it's hard to believe that as a

24
00:01:34,680 --> 00:01:38,160
Speaker 1: society we haven't we haven't advanced, and that we haven't

25
00:01:38,600 --> 00:01:45,320
Speaker 1: open doors. Clearly, two people, particularly people of Latino backgrounds,

26
00:01:45,880 --> 00:01:49,400
Speaker 1: tell me about the information that you and some partners

27
00:01:49,440 --> 00:01:51,480
Speaker 1: have gathered, and tell me about some of the things

28
00:01:51,560 --> 00:01:55,560
Speaker 1: that you are bringing to corporate leaders in entertainment industry

29
00:01:55,640 --> 00:01:57,880
Speaker 1: leaders and you're sitting down and talking to them about

30
00:01:58,520 --> 00:02:02,680
Speaker 1: look at the numbers, look at the purchasing power of

31
00:02:02,720 --> 00:02:05,760
Speaker 1: this of the Latino community in the United States. To

32
00:02:05,880 --> 00:02:08,200
Speaker 1: talk us through some of the things that you're talking about,

33
00:02:08,280 --> 00:02:11,960
Speaker 1: and tell us about some of the responses that you're hearing. Um,

34
00:02:12,000 --> 00:02:15,240
Speaker 1: you know, we we've had some really terrific meetings. I

35
00:02:15,240 --> 00:02:17,440
Speaker 1: would tell you that in the past, I don't think

36
00:02:17,520 --> 00:02:22,840
Speaker 1: that there was the receptivity to hearing things from uh,

37
00:02:22,919 --> 00:02:25,760
Speaker 1: you know about this market, and that's changed, I think

38
00:02:26,360 --> 00:02:30,280
Speaker 1: drastically recently. So we really and what we're doing is

39
00:02:30,320 --> 00:02:33,440
Speaker 1: not a political You should do this because this is

40
00:02:33,520 --> 00:02:37,760
Speaker 1: the right thing. We're having our conversations about economics, and

41
00:02:37,800 --> 00:02:40,040
Speaker 1: when you look at the economics of this market, you

42
00:02:40,200 --> 00:02:43,760
Speaker 1: just can't continue to ignore it. It's a it's a

43
00:02:43,800 --> 00:02:46,880
Speaker 1: massive market. We've been saying that for twenty years. Twenty years,

44
00:02:46,919 --> 00:02:49,519
Speaker 1: you and I have had this conversation more than a

45
00:02:49,600 --> 00:02:53,079
Speaker 1: hundred times. Right, but but but now and now you're

46
00:02:53,120 --> 00:02:56,360
Speaker 1: literally you're talking about the the U. S. Latino not

47
00:02:56,520 --> 00:03:00,480
Speaker 1: US Latino. First thing is people go Latino equals Spanish language,

48
00:03:00,639 --> 00:03:03,200
Speaker 1: and it does not. The U. S. Latino audience is

49
00:03:03,200 --> 00:03:05,560
Speaker 1: thirty four compared to forty three. We knew that before,

50
00:03:06,040 --> 00:03:10,120
Speaker 1: but US born is eighteen. So for the health of

51
00:03:10,160 --> 00:03:12,960
Speaker 1: any company, you really have to be thinking about this

52
00:03:13,040 --> 00:03:16,000
Speaker 1: young cohort. When I say cohort, also, I don't limit

53
00:03:16,040 --> 00:03:18,880
Speaker 1: it to just the sixty million Latinos in the country.

54
00:03:19,680 --> 00:03:22,680
Speaker 1: Is you know my family there were nine kids, seven

55
00:03:22,680 --> 00:03:26,120
Speaker 1: married non Latinos. But the non Latinos in our family

56
00:03:26,200 --> 00:03:29,680
Speaker 1: are all culturally Latino. So you don't have to be

57
00:03:29,760 --> 00:03:32,960
Speaker 1: have you know, have a last name to be a

58
00:03:33,000 --> 00:03:35,480
Speaker 1: cultural Latino. Right, So I'm gonna make you a cultural

59
00:03:35,600 --> 00:03:38,640
Speaker 1: Latino today's uh Cynthia. So we'll give you the name

60
00:03:38,640 --> 00:03:44,320
Speaker 1: a sou. But but again it's explaining what we call

61
00:03:44,360 --> 00:03:47,680
Speaker 1: the new Maine stream because when you look at in

62
00:03:47,880 --> 00:03:50,640
Speaker 1: in a lot of major d M a s thirty

63
00:03:50,680 --> 00:03:56,440
Speaker 1: three of the under thirty four audience in the top

64
00:03:56,480 --> 00:04:00,760
Speaker 1: ten d M as is Latino. That's a real number.

65
00:04:01,280 --> 00:04:04,040
Speaker 1: And it's the seventh largest global economy two point one

66
00:04:04,120 --> 00:04:07,360
Speaker 1: three trillion in g d P. There's some new studies

67
00:04:07,360 --> 00:04:10,000
Speaker 1: coming out they're just really mind blowing as to the

68
00:04:10,080 --> 00:04:14,760
Speaker 1: size of it. And there is a obviously a a

69
00:04:15,080 --> 00:04:20,120
Speaker 1: complete lack of content um in particular in comedy. You know,

70
00:04:20,200 --> 00:04:23,039
Speaker 1: we we look at the comedy opportunity as as the

71
00:04:23,160 --> 00:04:26,720
Speaker 1: jumping off point uh Nielsen will you know Nielsen research

72
00:04:26,800 --> 00:04:29,960
Speaker 1: tells us that you know, Latinos love comedy. Well, they're

73
00:04:30,000 --> 00:04:33,560
Speaker 1: not seeing or hearing their cadence. Thus the name of

74
00:04:33,600 --> 00:04:36,800
Speaker 1: the company we started, new Cadence. We're trying to bring

75
00:04:37,080 --> 00:04:42,480
Speaker 1: a new cadence to the entertainment business. And what um,

76
00:04:42,560 --> 00:04:47,400
Speaker 1: what the the information that you've gathered about purchasing power

77
00:04:47,480 --> 00:04:50,560
Speaker 1: about you You've really broken it down into specifics of

78
00:04:51,040 --> 00:04:56,400
Speaker 1: specific markets for everything for phones to insurance, policies to

79
00:04:56,640 --> 00:05:00,760
Speaker 1: you know, and when you sit with people and they

80
00:05:01,440 --> 00:05:05,000
Speaker 1: certainly recognize the power of this market, but what what

81
00:05:05,000 --> 00:05:07,520
Speaker 1: what answers do you hear when we all ask the questions,

82
00:05:08,720 --> 00:05:11,719
Speaker 1: why are there so few Latinos coming in the door

83
00:05:12,040 --> 00:05:16,040
Speaker 1: as creative talent, as executive recruits, are intern recruits that

84
00:05:16,160 --> 00:05:18,480
Speaker 1: you know, that's to start that, to get that foot

85
00:05:18,520 --> 00:05:21,080
Speaker 1: on the ladder, Like what what is the block at

86
00:05:21,120 --> 00:05:25,440
Speaker 1: that point? Well, there's a couple. Number one. I always

87
00:05:25,480 --> 00:05:29,400
Speaker 1: use the expression you can't change tires on the freeway, right.

88
00:05:29,440 --> 00:05:33,080
Speaker 1: So you've got companies trying to just keep their business

89
00:05:33,320 --> 00:05:38,120
Speaker 1: uh running in a time of great disruption, and you

90
00:05:38,960 --> 00:05:42,120
Speaker 1: have companies that you know, because they're doing that, they

91
00:05:42,160 --> 00:05:46,280
Speaker 1: just they can't just stop and change course. Right. Uh

92
00:05:46,279 --> 00:05:49,680
Speaker 1: that's that's a real big problem right there. And then uh,

93
00:05:49,760 --> 00:05:52,120
Speaker 1: they're unable to hire the talent they need to go

94
00:05:52,200 --> 00:05:54,400
Speaker 1: out and get it done. Because also it's a business

95
00:05:54,400 --> 00:05:57,240
Speaker 1: of friends and people, you know, right, I live on

96
00:05:57,279 --> 00:06:00,159
Speaker 1: the West Side and Beverly Hills, and I you know,

97
00:06:00,200 --> 00:06:03,279
Speaker 1: my kids went to private school, so my circle of friends,

98
00:06:03,560 --> 00:06:05,920
Speaker 1: there is a level of trust there. But a lot

99
00:06:05,920 --> 00:06:08,440
Speaker 1: of times I always joke that you know, people in

100
00:06:08,480 --> 00:06:11,440
Speaker 1: the development industry in Los Angeles have never been east

101
00:06:11,440 --> 00:06:15,160
Speaker 1: of Highland, right, so, you know, and and I and again,

102
00:06:15,360 --> 00:06:18,479
Speaker 1: well intended people, but if you just don't get it,

103
00:06:18,520 --> 00:06:20,279
Speaker 1: you don't get it. So you need to have the

104
00:06:20,400 --> 00:06:23,400
Speaker 1: right people in place. Have you looked at all in

105
00:06:23,520 --> 00:06:25,960
Speaker 1: as part of this process. Have you looked at um

106
00:06:26,279 --> 00:06:30,160
Speaker 1: efforts that have been done in the past to open doors,

107
00:06:30,360 --> 00:06:34,640
Speaker 1: whether it's you know, mentoring programs or in the creative community,

108
00:06:35,040 --> 00:06:39,159
Speaker 1: you know, workshops, you know, training programs to try to

109
00:06:39,160 --> 00:06:42,440
Speaker 1: to try to bring people. Is there anything that is

110
00:06:42,440 --> 00:06:45,479
Speaker 1: there anything that can work on the level of a

111
00:06:45,640 --> 00:06:49,880
Speaker 1: of a of a proactive approach companies? Um? You know what,

112
00:06:49,920 --> 00:06:53,880
Speaker 1: I think a lot of companies do things like that. UM.

113
00:06:54,000 --> 00:06:56,599
Speaker 1: And you know, in the name of diversity. And we

114
00:06:56,680 --> 00:06:59,480
Speaker 1: talked before the interview about kind of diversity is kind

115
00:06:59,520 --> 00:07:01,919
Speaker 1: of a weird thing these days, as you talk about

116
00:07:01,960 --> 00:07:05,119
Speaker 1: it in a more holistic way, it's become a catch

117
00:07:05,120 --> 00:07:08,440
Speaker 1: all term that has become a morpheus now and and

118
00:07:08,440 --> 00:07:11,800
Speaker 1: and so you know, the the the intern programs and

119
00:07:11,920 --> 00:07:15,360
Speaker 1: you know, the you know that type of stuff. UM,

120
00:07:15,520 --> 00:07:19,360
Speaker 1: they yield some results, but the reality in this marketplace

121
00:07:19,440 --> 00:07:23,120
Speaker 1: are actually really talented people ready to work, that are

122
00:07:23,160 --> 00:07:27,360
Speaker 1: capable of doing shows and getting things done. Uh. This

123
00:07:27,640 --> 00:07:29,880
Speaker 1: true story. A couple of years ago, I was at

124
00:07:29,920 --> 00:07:33,400
Speaker 1: a um AN event and there was a young lady

125
00:07:33,400 --> 00:07:35,200
Speaker 1: that I knew there was used to be a showrunner

126
00:07:35,200 --> 00:07:37,760
Speaker 1: on the show I did for Nickelodeon called Brother Scarcia.

127
00:07:37,920 --> 00:07:40,280
Speaker 1: She was running the room the last year there, and

128
00:07:40,320 --> 00:07:42,680
Speaker 1: prior to that she had run another room. And she

129
00:07:42,840 --> 00:07:46,680
Speaker 1: was there at the young writer's table of this company,

130
00:07:46,800 --> 00:07:49,120
Speaker 1: and I'm like, what are you doing here? Because it's

131
00:07:49,120 --> 00:07:50,440
Speaker 1: the only way I can get in. I had to

132
00:07:50,560 --> 00:07:53,360
Speaker 1: literally sell myself off as a young writer. I was like,

133
00:07:53,720 --> 00:07:56,440
Speaker 1: that's absurd. You shouldn't have to do that. So that's

134
00:07:56,720 --> 00:07:59,840
Speaker 1: you know, in that they are good. There also needs

135
00:07:59,880 --> 00:08:03,440
Speaker 1: to be an understanding of you know, there is talent

136
00:08:03,480 --> 00:08:07,040
Speaker 1: ready to deploy right because speed to market is critical.

137
00:08:07,040 --> 00:08:10,400
Speaker 1: I think Netflix has done an amazing job of speed

138
00:08:10,400 --> 00:08:13,400
Speaker 1: to market and and and getting you know, content out

139
00:08:13,440 --> 00:08:16,200
Speaker 1: there as opposed to what they call development hell that

140
00:08:16,240 --> 00:08:20,560
Speaker 1: you know is a term in Hollywood, right, So it's manufacturing.

141
00:08:20,840 --> 00:08:23,960
Speaker 1: This is really simple manufacturing. And then the other problem,

142
00:08:24,160 --> 00:08:26,680
Speaker 1: this is something actually I I we did some very

143
00:08:26,720 --> 00:08:31,640
Speaker 1: deep research about the major studios in Hollywood because we

144
00:08:31,640 --> 00:08:35,000
Speaker 1: were like, why is there a block in the supply chain?

145
00:08:35,679 --> 00:08:38,240
Speaker 1: Because we and I think I mentioned this to you before,

146
00:08:39,480 --> 00:08:41,520
Speaker 1: is so what we did is we built this index

147
00:08:41,559 --> 00:08:44,160
Speaker 1: and it's a really cool index. We went through every

148
00:08:44,160 --> 00:08:49,000
Speaker 1: writer and director at every studio and we did their name,

149
00:08:49,120 --> 00:08:53,719
Speaker 1: their age, their ethnicity, uh, their agency, their agents, how

150
00:08:53,760 --> 00:08:57,000
Speaker 1: many clients the agent had, how many of those clients

151
00:08:57,000 --> 00:09:00,320
Speaker 1: were a US Latino not foreign, right, because you know,

152
00:09:00,640 --> 00:09:05,199
Speaker 1: an Argentinian is very different than somebody was born in Colorado.

153
00:09:05,280 --> 00:09:09,040
Speaker 1: As I was, Uh, they're just their cultural experience. Uh

154
00:09:09,240 --> 00:09:13,280
Speaker 1: there their first film ever, uh, their last film, uh,

155
00:09:13,320 --> 00:09:16,160
Speaker 1: their most recent film in their box office. So we

156
00:09:16,240 --> 00:09:19,600
Speaker 1: built this index. We we found some very interesting things

157
00:09:19,640 --> 00:09:22,400
Speaker 1: that validates some other stuff that's out there and went

158
00:09:22,440 --> 00:09:25,640
Speaker 1: a little deeper. Is you know, uh the average ages,

159
00:09:25,760 --> 00:09:28,840
Speaker 1: it's you know, like eighty five percent of the studios,

160
00:09:28,840 --> 00:09:32,559
Speaker 1: about eighty five percent are male, of some cases ninety

161
00:09:32,760 --> 00:09:36,800
Speaker 1: you're talking about filmmakers, filmmakers and TV TV shows and

162
00:09:36,840 --> 00:09:41,320
Speaker 1: then you get into um of of those it's you know,

163
00:09:41,360 --> 00:09:45,679
Speaker 1: there's seven tenths of one percent or Latino US Latino.

164
00:09:46,320 --> 00:09:49,440
Speaker 1: Because what happens they'll say, like Alfonso Cuadro and Guillermo

165
00:09:49,520 --> 00:09:52,240
Speaker 1: del Toro. And I understand that people think that, but

166
00:09:52,360 --> 00:09:55,800
Speaker 1: they're they're Mexican Mexicans. Like my wife's from Mexico City,

167
00:09:55,960 --> 00:09:59,920
Speaker 1: she's a Mexican Mexican. I'm a Mexican American. There's a difference,

168
00:10:00,120 --> 00:10:03,280
Speaker 1: but people just think, you know, Mexican, like kind of

169
00:10:03,280 --> 00:10:05,720
Speaker 1: what Trump said the other day of all of the

170
00:10:05,760 --> 00:10:09,600
Speaker 1: Mexican countries of Guatemala and hondurasm like, wow, really, so

171
00:10:09,800 --> 00:10:14,120
Speaker 1: even our president doesn't understand our countries. I know you're shocked.

172
00:10:14,760 --> 00:10:18,400
Speaker 1: So um So, when we looked at that the supply

173
00:10:18,520 --> 00:10:23,079
Speaker 1: chain in the very beginning, you have, um the all

174
00:10:23,120 --> 00:10:28,640
Speaker 1: the studios use three agencies sell them their writers and directors.

175
00:10:28,679 --> 00:10:31,160
Speaker 1: So in those studios there's seven tenths of one per

176
00:10:31,200 --> 00:10:35,640
Speaker 1: cent of the writers and directors that are US US Latino,

177
00:10:36,280 --> 00:10:38,920
Speaker 1: and amazingly, up at the top where the programming is,

178
00:10:39,120 --> 00:10:42,040
Speaker 1: it's about the same seven tenths. So when people say, well,

179
00:10:42,160 --> 00:10:44,360
Speaker 1: we haven't done very well, we could do better, I

180
00:10:44,760 --> 00:10:49,080
Speaker 1: very politely say, well, actually you can't. It's mathematically impossible

181
00:10:49,320 --> 00:10:52,080
Speaker 1: for you to do better because you would have to

182
00:10:52,160 --> 00:10:54,880
Speaker 1: change the whole not only you have to change all

183
00:10:54,920 --> 00:10:57,840
Speaker 1: four tires on the car. So what we're proposing is

184
00:10:58,040 --> 00:11:01,680
Speaker 1: going outside of the trade sational structure, and we have

185
00:11:01,800 --> 00:11:04,360
Speaker 1: to in order to make this happen the traditional world

186
00:11:04,600 --> 00:11:10,000
Speaker 1: of of writers developed scripts. You know, writers start to

187
00:11:10,000 --> 00:11:12,640
Speaker 1: get get some traction, they get an agent, they kind

188
00:11:12,640 --> 00:11:16,440
Speaker 1: of get into the system, the pipeline of developed of

189
00:11:16,600 --> 00:11:19,640
Speaker 1: you know, because we all know everything starts with the scripts. Um,

190
00:11:20,320 --> 00:11:22,200
Speaker 1: and how would you how do you? How do you

191
00:11:22,559 --> 00:11:25,119
Speaker 1: when you say go outside, do you mean more aggressive

192
00:11:25,120 --> 00:11:29,400
Speaker 1: efforts to look for talent in untapped places to make

193
00:11:29,600 --> 00:11:32,520
Speaker 1: people aware, even people aware at a young age that

194
00:11:32,640 --> 00:11:35,600
Speaker 1: writing and producing and being an executive that these are

195
00:11:35,800 --> 00:11:38,320
Speaker 1: that these are even open to them. There there's, like

196
00:11:38,360 --> 00:11:41,160
Speaker 1: I said, there's talent ready to go. Um. You know,

197
00:11:41,240 --> 00:11:43,320
Speaker 1: I remember when we when we did the Brothers Garcia

198
00:11:43,400 --> 00:11:47,199
Speaker 1: series for Nickelodeon, there were no real comedy writers out there.

199
00:11:47,240 --> 00:11:50,960
Speaker 1: This is fifteen years ago, and I met folks. I

200
00:11:51,000 --> 00:11:55,360
Speaker 1: read them and I said, you know you're you're you're capable.

201
00:11:55,400 --> 00:11:57,040
Speaker 1: I can read your script, tell your I can tell

202
00:11:57,080 --> 00:12:00,120
Speaker 1: you're competent, and say with directors, we gave break Us

203
00:12:00,120 --> 00:12:02,280
Speaker 1: to a dozen new writers and a dozen new directors

204
00:12:02,400 --> 00:12:05,640
Speaker 1: on one show and so it's not about getting him

205
00:12:05,640 --> 00:12:08,840
Speaker 1: in an intern programming spot, finding smart people and giving

206
00:12:08,880 --> 00:12:12,800
Speaker 1: him the opportunity because everybody, I assume somebody probably met

207
00:12:12,800 --> 00:12:14,520
Speaker 1: you one day I said, you know what, she's really

208
00:12:14,559 --> 00:12:17,559
Speaker 1: smart and talented and I'm gonna give her her shot. Right.

209
00:12:18,120 --> 00:12:20,440
Speaker 1: That just happens, and we need to do more that

210
00:12:20,480 --> 00:12:23,079
Speaker 1: And that doesn't mean that you know people. We we want,

211
00:12:23,200 --> 00:12:25,720
Speaker 1: you know, to identify new talent and get him in

212
00:12:25,800 --> 00:12:29,560
Speaker 1: the agencies so the agencies can diversify their they're they're

213
00:12:29,559 --> 00:12:33,480
Speaker 1: offering and uh and also existing talent. There's a lot

214
00:12:33,520 --> 00:12:38,320
Speaker 1: of really really terrific talent um And what is the

215
00:12:39,080 --> 00:12:42,199
Speaker 1: we know, when you sit and talk do you do?

216
00:12:42,360 --> 00:12:45,400
Speaker 1: Are you pressing people for a commitment for any kind

217
00:12:45,400 --> 00:12:47,680
Speaker 1: of response? Are you trying trying to Is this a

218
00:12:47,760 --> 00:12:50,679
Speaker 1: consciousness raising effort? Well, no, no, this is a this

219
00:12:50,800 --> 00:12:53,800
Speaker 1: is a business effort. Um. I'm very fortunate that one

220
00:12:53,840 --> 00:12:56,080
Speaker 1: of my partners is a guy named Soul through Hell

221
00:12:56,840 --> 00:13:00,199
Speaker 1: and Soul is the he ran Us West was the

222
00:13:00,280 --> 00:13:04,800
Speaker 1: chairman and CEO, and he ran um Telstra in Australia

223
00:13:05,280 --> 00:13:09,000
Speaker 1: and it's really innovative stuff down there, and he ran

224
00:13:09,880 --> 00:13:13,040
Speaker 1: Orange in Europe. So having a guy like that. As

225
00:13:13,080 --> 00:13:16,360
Speaker 1: a partner, he's you know, I'm the creative guy, but

226
00:13:16,400 --> 00:13:18,680
Speaker 1: he's always about, you know, the bottom line business. He's

227
00:13:18,679 --> 00:13:24,160
Speaker 1: the closer. So uh um that that that is um

228
00:13:25,600 --> 00:13:28,440
Speaker 1: job one. And everything we go to is educate and

229
00:13:28,480 --> 00:13:33,600
Speaker 1: then you know, cut deals because that's what has to happen, right,

230
00:13:33,600 --> 00:13:36,480
Speaker 1: we have to really um and and and what I

231
00:13:36,520 --> 00:13:38,839
Speaker 1: love about him, he's about like, We're not going to

232
00:13:38,960 --> 00:13:41,400
Speaker 1: take two months to negotiate this. I want you know,

233
00:13:41,440 --> 00:13:44,400
Speaker 1: this done in very short order. And and literally we've

234
00:13:44,440 --> 00:13:47,360
Speaker 1: gone literally in the past two months from just talking

235
00:13:47,400 --> 00:13:50,160
Speaker 1: about this too. I can't get into a lot of detail,

236
00:13:50,240 --> 00:13:53,719
Speaker 1: but some terrific results that I think we're that we're

237
00:13:53,720 --> 00:13:57,600
Speaker 1: going to yield soon. Is there is there a deficit

238
00:13:57,679 --> 00:14:01,880
Speaker 1: of awareness of the opportunities in the entertainment industry in

239
00:14:03,080 --> 00:14:05,400
Speaker 1: what you would call the Latino community, which I know

240
00:14:05,640 --> 00:14:08,679
Speaker 1: is not a monolithic by any means of monolith. That's

241
00:14:08,679 --> 00:14:10,760
Speaker 1: the problem. People go, We're gonna make something for Latinos,

242
00:14:10,880 --> 00:14:15,040
Speaker 1: Like what does that mean? Which Latinos? What age? What where?

243
00:14:15,080 --> 00:14:18,000
Speaker 1: What are the market segments you're talking about. It's a

244
00:14:18,080 --> 00:14:21,600
Speaker 1: business proposition, but are there areas? Are there you know,

245
00:14:21,800 --> 00:14:25,040
Speaker 1: areas of Greater Los Angeles outside of the West and

246
00:14:25,120 --> 00:14:27,720
Speaker 1: other areas of Houston. Are there areas, are their programs

247
00:14:27,720 --> 00:14:30,200
Speaker 1: that could be done in schools? Is there things to

248
00:14:30,360 --> 00:14:34,080
Speaker 1: just even again, even to spark the fire of interest

249
00:14:34,240 --> 00:14:38,320
Speaker 1: in a budding comedian or director or you know, future ceo.

250
00:14:38,640 --> 00:14:41,000
Speaker 1: You know, I think the most powerful thing to do

251
00:14:41,240 --> 00:14:44,640
Speaker 1: is when years ago, when I first came to Los Angeles,

252
00:14:44,840 --> 00:14:47,320
Speaker 1: I I you know, I was a guy from Colra.

253
00:14:47,400 --> 00:14:50,120
Speaker 1: I've never even been on a sound stage, and I

254
00:14:50,160 --> 00:14:53,360
Speaker 1: did this show called Comedy Compodes and it was Carlos

255
00:14:53,400 --> 00:14:55,400
Speaker 1: mincs first show ever. He was the host of it,

256
00:14:56,000 --> 00:14:58,360
Speaker 1: and I was just, you know, this complete nobody from

257
00:14:58,400 --> 00:15:00,480
Speaker 1: el had. I mean, I was freak now that I

258
00:15:00,560 --> 00:15:02,280
Speaker 1: got to do the show. We've had like ten thousand

259
00:15:02,320 --> 00:15:05,360
Speaker 1: dollars for the budget, and imagine a ten thousand dollar

260
00:15:05,400 --> 00:15:08,600
Speaker 1: budget show, and I barely was able to fill eight

261
00:15:08,800 --> 00:15:12,520
Speaker 1: eight eight shows with comedians. And we were on Katie

262
00:15:12,600 --> 00:15:15,040
Speaker 1: l A and we're up against at the time, David Letterman,

263
00:15:15,160 --> 00:15:18,640
Speaker 1: Jay Leno, Chevy Chase in our Sineo Hall and we

264
00:15:18,720 --> 00:15:22,600
Speaker 1: beat them most every Friday night. Of course we did,

265
00:15:22,800 --> 00:15:25,400
Speaker 1: and we would do it again in l A. Because

266
00:15:25,680 --> 00:15:29,280
Speaker 1: people connected to it. And what happened to answer your

267
00:15:29,360 --> 00:15:33,960
Speaker 1: question is people saw themselves and they said, hey, if

268
00:15:34,000 --> 00:15:36,880
Speaker 1: Carlo Spincia it can do it. This kid named Fluffy

269
00:15:36,960 --> 00:15:40,080
Speaker 1: glessie Us used to watch that show and Gabriel glessia

270
00:15:40,120 --> 00:15:42,000
Speaker 1: I said, wow, if that guy can do it, I

271
00:15:42,040 --> 00:15:44,840
Speaker 1: can do it. And then somebody saw flu So when

272
00:15:44,880 --> 00:15:49,160
Speaker 1: you see yourself, you go, well, hell, let's not you know,

273
00:15:49,640 --> 00:15:52,640
Speaker 1: an impossible dream, because, believe me, a lot of young

274
00:15:52,720 --> 00:15:55,400
Speaker 1: Latino's dream about doing it, but when they see it

275
00:15:55,440 --> 00:15:57,360
Speaker 1: as opposed to, hey, let's go to a school or

276
00:15:57,440 --> 00:16:00,560
Speaker 1: let's have an outreach program. Just you've got to have

277
00:16:00,680 --> 00:16:04,320
Speaker 1: the product on the screen. And that'll, believe me more

278
00:16:04,360 --> 00:16:07,680
Speaker 1: than open the doors. You can't be what you can't see.

279
00:16:08,360 --> 00:16:10,600
Speaker 1: That's a I'm gonna steal that from you. Thank you.

280
00:16:10,800 --> 00:16:13,680
Speaker 1: I would say, it's harder to be what you can't

281
00:16:13,880 --> 00:16:17,680
Speaker 1: It's infinitely harder. Well, let's just hears. You're also involved

282
00:16:17,800 --> 00:16:20,720
Speaker 1: in an adventure that is is tapping into what seems

283
00:16:20,760 --> 00:16:23,240
Speaker 1: to be a really growing field right now of the

284
00:16:23,280 --> 00:16:27,360
Speaker 1: world of live experiences, which is kind of you know,

285
00:16:27,560 --> 00:16:30,160
Speaker 1: it seems like it. It says a lot about our

286
00:16:30,720 --> 00:16:34,560
Speaker 1: wired and crazy screen connected world. That we're now seeking

287
00:16:35,040 --> 00:16:38,920
Speaker 1: seeking opportunities to have live experiences as opposed to living

288
00:16:38,920 --> 00:16:42,080
Speaker 1: in the world. But um, but you are putting your

289
00:16:42,160 --> 00:16:46,560
Speaker 1: producer and your comedian's brain onto a onto developing a project,

290
00:16:46,920 --> 00:16:50,600
Speaker 1: a big real estate development project outside of Tucson. Tell

291
00:16:50,680 --> 00:16:53,440
Speaker 1: us about how that happens. About A friend of mine

292
00:16:53,520 --> 00:16:57,400
Speaker 1: called me and he said, uh, I bought a mall.

293
00:16:58,200 --> 00:17:01,240
Speaker 1: It's like, honey, we bought them all and he got

294
00:17:01,280 --> 00:17:03,760
Speaker 1: this amazing deal on it. And it was it's a

295
00:17:03,840 --> 00:17:08,399
Speaker 1: mall in Tuson and um and and he said, you know, what,

296
00:17:08,440 --> 00:17:10,680
Speaker 1: do you think what let's do something really cool with it.

297
00:17:11,160 --> 00:17:13,359
Speaker 1: And I was like great, And so we got in

298
00:17:13,400 --> 00:17:17,480
Speaker 1: the sandbox and we just started playing. And basically it's

299
00:17:17,520 --> 00:17:20,400
Speaker 1: a two fifty thousand square it's a six d square

300
00:17:20,440 --> 00:17:22,720
Speaker 1: foot mall, but the footprint we're doing is about a

301
00:17:22,760 --> 00:17:25,439
Speaker 1: quarter million square feet. And it's going to have Instead

302
00:17:25,440 --> 00:17:30,119
Speaker 1: of a traditional mall which has about se retail food,

303
00:17:30,560 --> 00:17:33,600
Speaker 1: our retail is going to be wallless, so you don't

304
00:17:33,600 --> 00:17:35,680
Speaker 1: really know when you're going from one into the next.

305
00:17:36,000 --> 00:17:39,120
Speaker 1: The food is aligned with the retail, so when you're

306
00:17:39,240 --> 00:17:42,000
Speaker 1: buying something that you can relate to as a consumer,

307
00:17:42,080 --> 00:17:45,480
Speaker 1: you can also enjoy food that might want to cater

308
00:17:45,600 --> 00:17:47,879
Speaker 1: to you, so kind of we kind of do that online,

309
00:17:47,920 --> 00:17:51,360
Speaker 1: but now we're doing that with with expert real experiential.

310
00:17:51,800 --> 00:17:54,879
Speaker 1: There's activities because uh, I remember when I met with

311
00:17:54,920 --> 00:17:57,119
Speaker 1: a friend of mine our kids grew up together, and

312
00:17:57,160 --> 00:17:58,600
Speaker 1: I said, you know, living in l A when my

313
00:17:58,680 --> 00:18:01,399
Speaker 1: kids were younger, because I and you went through this too.

314
00:18:01,800 --> 00:18:03,719
Speaker 1: Is you know, if I wanted they want to paintball,

315
00:18:03,760 --> 00:18:05,240
Speaker 1: they'd have to go all the way to south in

316
00:18:05,320 --> 00:18:07,480
Speaker 1: the town, like a ninety minute drive. And they wanted

317
00:18:07,560 --> 00:18:09,280
Speaker 1: rock wall, they'd have to go to Santa Monica. They

318
00:18:09,280 --> 00:18:11,879
Speaker 1: wanted laser tag, they have to go to Fan Eyes.

319
00:18:12,080 --> 00:18:14,320
Speaker 1: So this is all that under one roof. That's the

320
00:18:14,359 --> 00:18:17,720
Speaker 1: activity side. And then there's the entertainment side, which includes

321
00:18:17,800 --> 00:18:22,200
Speaker 1: a fifteen screen theater and that's actually already currently there.

322
00:18:22,400 --> 00:18:25,800
Speaker 1: Just went through a big remodel and um, and then

323
00:18:25,840 --> 00:18:29,879
Speaker 1: we're doing these really cool uh they're sweets. They're the

324
00:18:29,920 --> 00:18:32,639
Speaker 1: easiest way to describe it as like the ultimate man cave,

325
00:18:33,200 --> 00:18:34,640
Speaker 1: you know, And I don't want to say that because

326
00:18:34,640 --> 00:18:38,639
Speaker 1: it's inclusive of male females, not exclusive two men obviously,

327
00:18:39,080 --> 00:18:41,160
Speaker 1: and because I was raised by five sisters and they'd

328
00:18:41,200 --> 00:18:44,240
Speaker 1: kill me for doing something like that. And um and

329
00:18:44,400 --> 00:18:46,120
Speaker 1: literally you can go in there. It's got the most

330
00:18:46,160 --> 00:18:49,480
Speaker 1: outrageous you know, its sound and and TV and set

331
00:18:49,560 --> 00:18:52,119
Speaker 1: up and and comfortable chairs and you can order food

332
00:18:52,119 --> 00:18:55,600
Speaker 1: from your phone and uh uh and drinks from your phone.

333
00:18:55,880 --> 00:18:57,520
Speaker 1: So you know, my wife doesn't like when I have

334
00:18:57,560 --> 00:18:59,760
Speaker 1: friends over to watch the games on Sunday, So I'll

335
00:18:59,760 --> 00:19:02,600
Speaker 1: just rent one of these right when we ultimately roll

336
00:19:02,680 --> 00:19:04,920
Speaker 1: them out, and I can go and watch the game

337
00:19:04,960 --> 00:19:06,920
Speaker 1: with my friends instead of a sports bar where you

338
00:19:06,960 --> 00:19:09,680
Speaker 1: can't hear the game. And and when they're not being

339
00:19:09,800 --> 00:19:13,000
Speaker 1: used for sports, gamers can use them. Uh they can

340
00:19:13,040 --> 00:19:17,080
Speaker 1: also uh karaoke and then also for corporate events. And

341
00:19:17,119 --> 00:19:20,000
Speaker 1: then we've also got this we're kind of recreating the

342
00:19:20,040 --> 00:19:22,440
Speaker 1: comedy clubs. I used to own a comedy club back

343
00:19:23,160 --> 00:19:25,399
Speaker 1: back in the day, you know, and you know it

344
00:19:25,440 --> 00:19:27,080
Speaker 1: was like, you know, Rosanne used to work there when

345
00:19:27,080 --> 00:19:30,600
Speaker 1: she was just be a housewife from Denver and uh

346
00:19:30,600 --> 00:19:33,800
Speaker 1: Sinbad and Ellen degenerous. You know, everybody did the circuit

347
00:19:33,800 --> 00:19:36,240
Speaker 1: and came through Colora Springs. What was the name of

348
00:19:36,280 --> 00:19:38,320
Speaker 1: your club, It was called jeff El doz Is Comedy

349
00:19:38,320 --> 00:19:41,480
Speaker 1: corner and so funny. Sinbad was on Allen recently and

350
00:19:41,480 --> 00:19:43,119
Speaker 1: he said, where do we meet? I don't remember. She

351
00:19:43,160 --> 00:19:45,119
Speaker 1: asked him that because you don't remembers the jeff el

352
00:19:45,160 --> 00:19:47,879
Speaker 1: Dez comedy corner. So he was a nice plug. But

353
00:19:48,880 --> 00:19:52,080
Speaker 1: Zella lives on and um, you know, and and and

354
00:19:52,119 --> 00:19:54,200
Speaker 1: the the new environment we're creating. It's going to be

355
00:19:54,240 --> 00:19:56,399
Speaker 1: a comedy room, but when it's not being used for

356
00:19:56,440 --> 00:19:59,160
Speaker 1: because you know, the comedy shows only last three hours

357
00:19:59,160 --> 00:20:01,560
Speaker 1: a night for was on the weekend, and then the

358
00:20:01,680 --> 00:20:03,720
Speaker 1: rooms just empty the rest of the time. So we're

359
00:20:03,760 --> 00:20:07,000
Speaker 1: turning the room into a gaming arena and on the

360
00:20:07,119 --> 00:20:11,080
Speaker 1: sports arena, so it'll be e sports all the other time,

361
00:20:11,359 --> 00:20:15,040
Speaker 1: corporate events and comedy. So everything is constantly fluid and

362
00:20:15,080 --> 00:20:18,600
Speaker 1: constantly working in this uh new project that we're doing.

363
00:20:18,800 --> 00:20:20,840
Speaker 1: And it's really been a lot of fun because it's

364
00:20:20,960 --> 00:20:22,320
Speaker 1: you know, it's like I told my partner, I said,

365
00:20:22,320 --> 00:20:24,199
Speaker 1: you're not in the real estate business anymore. You're in

366
00:20:24,200 --> 00:20:26,720
Speaker 1: the entertainment business. And how is it for you to

367
00:20:26,800 --> 00:20:28,960
Speaker 1: look at instead of you know, instead of working on

368
00:20:29,000 --> 00:20:31,600
Speaker 1: a script, to look at blueprints and use your you know,

369
00:20:31,760 --> 00:20:34,000
Speaker 1: use your creative muscles to think about how you could

370
00:20:34,080 --> 00:20:37,240
Speaker 1: make how you could make these these individual spaces really

371
00:20:37,280 --> 00:20:40,760
Speaker 1: cool entertainment experience. You know what, it's not much different.

372
00:20:41,400 --> 00:20:46,359
Speaker 1: It's right, you're you're literally you're developing something. You know,

373
00:20:46,440 --> 00:20:48,120
Speaker 1: you when you go build, you know, when you write

374
00:20:48,119 --> 00:20:50,400
Speaker 1: a script, you write the treatment, you know, and then

375
00:20:50,440 --> 00:20:51,920
Speaker 1: you you know, I always tell people, if you don't

376
00:20:51,960 --> 00:20:54,520
Speaker 1: have the treatment, that's the blueprint, right, and then you

377
00:20:54,520 --> 00:20:57,520
Speaker 1: get into the real the real site plans and the

378
00:20:57,520 --> 00:21:00,880
Speaker 1: details of it, and and and that's the actual script part.

379
00:21:01,280 --> 00:21:03,760
Speaker 1: And then there's the marketing of it. It's very similar.

380
00:21:03,920 --> 00:21:06,480
Speaker 1: I told him, my my bud Don boorn I said,

381
00:21:06,920 --> 00:21:09,520
Speaker 1: it's like producing a TV show. It's really not much

382
00:21:09,560 --> 00:21:12,960
Speaker 1: different about it's real estate. It's just you know, it's

383
00:21:12,960 --> 00:21:15,679
Speaker 1: different because it's real estate. But it's not much different

384
00:21:15,680 --> 00:21:17,840
Speaker 1: at all. Really. So there there are skills that you

385
00:21:17,880 --> 00:21:20,520
Speaker 1: can say that do translate, that you learn in Hollywood,

386
00:21:20,560 --> 00:21:24,720
Speaker 1: that you that do translate outside industries. That absolutely that's

387
00:21:25,119 --> 00:21:28,520
Speaker 1: good news for people. Yeah, um, I know, you know

388
00:21:29,200 --> 00:21:31,920
Speaker 1: when we first met, you were just at the outset

389
00:21:32,160 --> 00:21:37,600
Speaker 1: of of a really impressive run of you launched. You know,

390
00:21:37,800 --> 00:21:40,680
Speaker 1: one of the few that you can count on two

391
00:21:40,680 --> 00:21:45,440
Speaker 1: hands the number of truly independent from scratch cable channels

392
00:21:45,440 --> 00:21:47,960
Speaker 1: that have been launched in the last you know, going

393
00:21:48,000 --> 00:21:51,480
Speaker 1: on let's call it fifteen sixteen years, and one of

394
00:21:51,520 --> 00:21:56,400
Speaker 1: them was CTV, which is now the Fuse channel. UM,

395
00:21:56,600 --> 00:21:59,920
Speaker 1: tell us what that experience, you know, going soup to

396
00:22:00,080 --> 00:22:02,960
Speaker 1: that's from the idea, to raising the money to to

397
00:22:03,320 --> 00:22:06,639
Speaker 1: cajoling cable operators to carry it. What did what did

398
00:22:06,720 --> 00:22:10,280
Speaker 1: that process you know, going on fifteen plus years ago? Now,

399
00:22:10,400 --> 00:22:15,240
Speaker 1: what did that process teach you about the industry, about

400
00:22:15,240 --> 00:22:20,600
Speaker 1: the television industry, about my finance? Um? Well, first of all,

401
00:22:20,640 --> 00:22:22,920
Speaker 1: I when we first came to New York to raise

402
00:22:22,960 --> 00:22:25,320
Speaker 1: the money for it, you know, because I was very

403
00:22:25,400 --> 00:22:29,080
Speaker 1: passionate about getting it done because it's like and here

404
00:22:29,119 --> 00:22:31,200
Speaker 1: I'm having the same conversation, we need more content for

405
00:22:31,240 --> 00:22:34,960
Speaker 1: our community. You know, all these years later and we start.

406
00:22:35,480 --> 00:22:37,760
Speaker 1: We used to jokingly point to all the buildings where

407
00:22:37,880 --> 00:22:40,199
Speaker 1: we had been rejected. And then it got to a

408
00:22:40,200 --> 00:22:43,040
Speaker 1: point where we had pointed the buildings we hadn't been rejected,

409
00:22:43,320 --> 00:22:46,720
Speaker 1: because we literally we made the rounds and went to everybody.

410
00:22:47,119 --> 00:22:51,080
Speaker 1: And this is at the financing stage, financing stage, finance,

411
00:22:51,240 --> 00:22:54,560
Speaker 1: and I was telling somebody yesterday. The story when because

412
00:22:54,560 --> 00:22:57,240
Speaker 1: what had happened is you would have the distributors because

413
00:22:57,280 --> 00:22:59,760
Speaker 1: they were you know, they were the gatekeepers. And they

414
00:23:00,000 --> 00:23:02,120
Speaker 1: then you had the finance saying well, we can't give

415
00:23:02,119 --> 00:23:04,639
Speaker 1: you distribution until we know you have the financing. We

416
00:23:04,720 --> 00:23:07,360
Speaker 1: love the idea, but you need the financing. The finance

417
00:23:07,359 --> 00:23:10,480
Speaker 1: guys going well, we can't give you, you you know, find

418
00:23:10,480 --> 00:23:13,160
Speaker 1: money until we know where you have distribution. So we're

419
00:23:13,200 --> 00:23:16,080
Speaker 1: in a meeting one day and and um, somebody said, well,

420
00:23:16,119 --> 00:23:18,040
Speaker 1: you know, we would love to love the idea. We'll

421
00:23:18,240 --> 00:23:20,359
Speaker 1: we'll give you distribution. Do you have the you know

422
00:23:20,440 --> 00:23:23,679
Speaker 1: whatever seventy eight million dollars at the time to launch us.

423
00:23:23,680 --> 00:23:26,040
Speaker 1: And I looked at him and said, yeah, you know,

424
00:23:26,240 --> 00:23:30,439
Speaker 1: just flat outlied. Yeah. And my partner jerked next to me.

425
00:23:30,640 --> 00:23:32,399
Speaker 1: He walks out and sorry, n you just told him

426
00:23:32,400 --> 00:23:34,399
Speaker 1: we had seventy million dollars. I'm like yeah, And he

427
00:23:34,440 --> 00:23:36,760
Speaker 1: believed he didn't he and he said, what are we

428
00:23:36,760 --> 00:23:38,280
Speaker 1: gonna do? I said, well, now we're gonna go to

429
00:23:38,320 --> 00:23:41,000
Speaker 1: the finance people and say we have a commitment for distribution,

430
00:23:41,040 --> 00:23:44,000
Speaker 1: will you finance this? And and that's exactly what we did.

431
00:23:44,200 --> 00:23:47,840
Speaker 1: And we use that little white lie to UH to

432
00:23:47,920 --> 00:23:52,159
Speaker 1: get money because then we had distribution. Now it's it

433
00:23:52,240 --> 00:23:54,800
Speaker 1: sounds easy in the retelling, but I'm guessing it took

434
00:23:54,840 --> 00:23:58,159
Speaker 1: a lot to a lot of spine it was to

435
00:23:58,359 --> 00:24:00,919
Speaker 1: pull off and to make sure everybody got to the

436
00:24:00,960 --> 00:24:04,959
Speaker 1: same point. Yeah, when when push came to show you

437
00:24:05,000 --> 00:24:07,960
Speaker 1: had that seventy million dollars in your pocket. I'll tell

438
00:24:07,960 --> 00:24:09,480
Speaker 1: you the dumbest thing I will tell you I ever

439
00:24:09,600 --> 00:24:11,919
Speaker 1: did in the in the process was I had a

440
00:24:11,960 --> 00:24:15,960
Speaker 1: meeting with UH with Bob Iger at one time, and

441
00:24:15,960 --> 00:24:18,600
Speaker 1: and um, and Bob loved the idea of it, and

442
00:24:18,640 --> 00:24:20,159
Speaker 1: he's like, how about I just write a check for

443
00:24:20,200 --> 00:24:23,480
Speaker 1: the whole thing? And and and this is I will

444
00:24:23,520 --> 00:24:27,080
Speaker 1: always remember what kind of idiot I was. I said, Um.

445
00:24:27,119 --> 00:24:29,600
Speaker 1: I looked at it, and I said, no, thank you,

446
00:24:30,800 --> 00:24:33,240
Speaker 1: I just want part of it. And he says, why

447
00:24:33,240 --> 00:24:36,120
Speaker 1: would you not take a full check? I said, because, well,

448
00:24:36,560 --> 00:24:38,480
Speaker 1: if you write a big check like that, that makes

449
00:24:38,520 --> 00:24:40,840
Speaker 1: you an expert in what I'm an expert in. And

450
00:24:40,880 --> 00:24:42,760
Speaker 1: I don't need any more experts around the table right now.

451
00:24:42,840 --> 00:24:45,240
Speaker 1: I got this. And he looked at me, says, mar

452
00:24:45,320 --> 00:24:47,439
Speaker 1: rather cocky, aren't you, I said, no, I just know

453
00:24:47,480 --> 00:24:50,240
Speaker 1: what I'm doing, and and and if I you know,

454
00:24:50,440 --> 00:24:52,520
Speaker 1: if you guys own it, then we'll just be you know,

455
00:24:52,960 --> 00:24:55,720
Speaker 1: beholden to you and we want to build value for you.

456
00:24:55,840 --> 00:24:57,560
Speaker 1: So you have to trust that we know what we're doing.

457
00:24:58,040 --> 00:25:00,919
Speaker 1: And uh, there's a whole another long story around that

458
00:25:00,960 --> 00:25:04,199
Speaker 1: whole thing, but um, you know, it was it was

459
00:25:04,480 --> 00:25:08,320
Speaker 1: that was the dumbest move I've ever made. And just think,

460
00:25:08,400 --> 00:25:11,320
Speaker 1: you know, what what might what might have been? Well well,

461
00:25:11,359 --> 00:25:12,960
Speaker 1: and and by the way, on the advert that was

462
00:25:13,000 --> 00:25:15,680
Speaker 1: just on the finance and the advertising. Once we launched,

463
00:25:16,080 --> 00:25:17,639
Speaker 1: we had to go out and you know, we'd go

464
00:25:17,680 --> 00:25:20,159
Speaker 1: to the we'd go to the general market ad agencies

465
00:25:20,400 --> 00:25:22,440
Speaker 1: and they say, hey, this is great, we love the programming,

466
00:25:22,480 --> 00:25:26,160
Speaker 1: love love the real but your last name is Valdez.

467
00:25:27,040 --> 00:25:29,879
Speaker 1: You should go to the Hispanic agencies. Then we go

468
00:25:29,920 --> 00:25:32,040
Speaker 1: to the Hispanic agencies and they say, well, wait a second,

469
00:25:32,520 --> 00:25:35,679
Speaker 1: this is programming in English, we only do Spanish language.

470
00:25:35,680 --> 00:25:38,879
Speaker 1: Should go to the general market agencies. So there so

471
00:25:38,920 --> 00:25:42,000
Speaker 1: we ended up just going directly to the brands because

472
00:25:42,000 --> 00:25:43,320
Speaker 1: that was the only way we could sell it in

473
00:25:44,000 --> 00:25:46,360
Speaker 1: Do you think that in your experience, do you think

474
00:25:46,400 --> 00:25:50,359
Speaker 1: that that the advertising and financing is there Are they

475
00:25:50,359 --> 00:25:53,640
Speaker 1: a little more enlightened or is there more openness. There's

476
00:25:53,640 --> 00:25:55,159
Speaker 1: a lot of money out there right now, I can

477
00:25:55,240 --> 00:25:59,760
Speaker 1: tell you that, um private equity. Yeah, I think it's

478
00:25:59,840 --> 00:26:02,560
Speaker 1: more money than there's places to put it. Quite frankly,

479
00:26:02,840 --> 00:26:04,680
Speaker 1: I think people are gonna start burying it in coffee

480
00:26:04,680 --> 00:26:09,640
Speaker 1: cans in their backyard because there's just a lot out there. Um.

481
00:26:09,960 --> 00:26:13,000
Speaker 1: I think they're yes, they're open to it. Um. You know,

482
00:26:13,119 --> 00:26:15,480
Speaker 1: I think there was like the the when the Disney

483
00:26:15,800 --> 00:26:20,280
Speaker 1: um tell visa thing didn't work, Uh that that I

484
00:26:20,760 --> 00:26:23,840
Speaker 1: don't think that helped the market. Um you know, because

485
00:26:23,880 --> 00:26:28,760
Speaker 1: everydything if they can't do it, you know, and something

486
00:26:28,840 --> 00:26:32,080
Speaker 1: I think I think that was harmful to the market. Um.

487
00:26:32,119 --> 00:26:35,240
Speaker 1: You know. In my perspective at that time was look, um,

488
00:26:36,440 --> 00:26:40,240
Speaker 1: you guys, you've hired Televisa who has never produced two

489
00:26:40,240 --> 00:26:44,200
Speaker 1: seconds of content in English. They're a Spanish language programmer,

490
00:26:44,600 --> 00:26:47,240
Speaker 1: and it's in Miami. And you know, the joke about

491
00:26:47,240 --> 00:26:50,560
Speaker 1: Miami is I love Miami because it's so conveniently located

492
00:26:50,600 --> 00:26:54,440
Speaker 1: the United States. Right Well, Miami is a Spanish Spanish

493
00:26:54,440 --> 00:26:56,800
Speaker 1: non market. So I think when you look at it

494
00:26:56,840 --> 00:26:59,920
Speaker 1: from the architecture of it, there were some missteps, because

495
00:27:00,000 --> 00:27:03,560
Speaker 1: people make all the time, um and um, you know,

496
00:27:03,640 --> 00:27:06,040
Speaker 1: as in in CTV we had I thought we did

497
00:27:06,040 --> 00:27:08,760
Speaker 1: a lot of great things. And one of the things

498
00:27:08,800 --> 00:27:10,479
Speaker 1: I will tell you that I didn't do well as

499
00:27:10,480 --> 00:27:13,480
Speaker 1: I didn't learn the difference between a venture capitalist and

500
00:27:13,480 --> 00:27:16,720
Speaker 1: a vulture capitalist, and there is a big difference. So

501
00:27:17,240 --> 00:27:19,080
Speaker 1: that's that's for the book I'm going to write that.

502
00:27:19,119 --> 00:27:22,119
Speaker 1: Hopefully you'll help me someday. Yeah. I suffice it to

503
00:27:22,119 --> 00:27:25,520
Speaker 1: say here that you did part ways a few years

504
00:27:25,560 --> 00:27:30,320
Speaker 1: in with with CTV after being immensely successful. I somehow

505
00:27:30,359 --> 00:27:34,199
Speaker 1: managed to part ways, as you say, a story for

506
00:27:34,240 --> 00:27:36,960
Speaker 1: another time, story for another time. Well, you certainly have

507
00:27:37,040 --> 00:27:39,400
Speaker 1: no shortage of irons in the fire and interesting things

508
00:27:39,440 --> 00:27:42,159
Speaker 1: happening now. Thank you so much for coming in and

509
00:27:42,160 --> 00:27:44,280
Speaker 1: and talking to us about about issues that are not

510
00:27:44,359 --> 00:27:47,359
Speaker 1: easy to talk about. And it's especially great to have

511
00:27:47,440 --> 00:27:50,280
Speaker 1: somebody coming at it from with a real business perspective,

512
00:27:50,600 --> 00:27:53,280
Speaker 1: not a you should or this is the moral thing

513
00:27:53,320 --> 00:27:55,440
Speaker 1: to do, but this is this is the business thing

514
00:27:55,480 --> 00:27:57,200
Speaker 1: to do. This is the bottom line that you need

515
00:27:57,240 --> 00:27:59,320
Speaker 1: to because that is the thing, as we all know,

516
00:28:00,040 --> 00:28:02,800
Speaker 1: as much as everybody wants to do good you gotta

517
00:28:02,840 --> 00:28:06,560
Speaker 1: move market. And if if I can say one real

518
00:28:06,640 --> 00:28:08,560
Speaker 1: thing about that too, is when you look at you know,

519
00:28:08,600 --> 00:28:10,640
Speaker 1: part of our pitch right now we tell people is look,

520
00:28:11,760 --> 00:28:14,800
Speaker 1: there's a strain on the supply on on writers and

521
00:28:14,840 --> 00:28:17,960
Speaker 1: directors because there's so so many people buying content now

522
00:28:18,160 --> 00:28:20,560
Speaker 1: and it's the same people over and over, and they're

523
00:28:20,640 --> 00:28:23,960
Speaker 1: going making content for an audience sexually shrinking, you know,

524
00:28:23,960 --> 00:28:26,960
Speaker 1: because every I think it's every minute to Latinos turn

525
00:28:27,040 --> 00:28:30,560
Speaker 1: eighteen and to non Hispanics turn retire, for non Hispanics

526
00:28:30,720 --> 00:28:34,320
Speaker 1: turn retirement age every minute. So you're making content for

527
00:28:34,359 --> 00:28:38,880
Speaker 1: a shrinking audience. Whereas we're saying, we have a wealth

528
00:28:39,040 --> 00:28:43,640
Speaker 1: of writers and directors that's growing, and an audience and

529
00:28:43,760 --> 00:28:47,280
Speaker 1: an audience that's growing. So you do that properly, you

530
00:28:47,360 --> 00:28:49,920
Speaker 1: experience top line growth. And again, as you know, to

531
00:28:49,960 --> 00:28:53,960
Speaker 1: get top line growth, you have to have bodies. People

532
00:28:54,000 --> 00:28:55,560
Speaker 1: have to go in and as to the g d

533
00:28:55,680 --> 00:28:58,959
Speaker 1: P and all all the different economic factors have to happen,

534
00:28:59,520 --> 00:29:03,240
Speaker 1: and you can't grow without people for top line growth,

535
00:29:03,520 --> 00:29:06,600
Speaker 1: and we're growing. You look at a lot of big companies,

536
00:29:06,640 --> 00:29:10,040
Speaker 1: I want to say, like in in in the banking industry, Uh,

537
00:29:10,280 --> 00:29:14,680
Speaker 1: their growth is like seventy based from the US Latino market.

538
00:29:15,080 --> 00:29:18,320
Speaker 1: Uh in Walmart. It's like, I mean, some of the

539
00:29:18,400 --> 00:29:22,840
Speaker 1: big big industries out there, all their growth right now,

540
00:29:22,880 --> 00:29:26,400
Speaker 1: not not their revenue, their growth is all coming from Hispanic.

541
00:29:27,240 --> 00:29:29,920
Speaker 1: When do you think that we will see the first

542
00:29:30,080 --> 00:29:33,400
Speaker 1: the first fruits of new cadence? Do you think shows movies?

543
00:29:33,440 --> 00:29:38,720
Speaker 1: Are you focused on television right now? Yes? Um, before

544
00:29:38,720 --> 00:29:41,000
Speaker 1: the end of this year. Great, All right, well we

545
00:29:41,000 --> 00:29:43,120
Speaker 1: will definitely stay tuned for that. Jeff, thank you so much,

546
00:29:43,160 --> 00:29:45,320
Speaker 1: thanks for coming in to talk about important issues. Well,

547
00:29:45,360 --> 00:29:50,120
Speaker 1: thank you, thanks for listening. Be sure to tune in

548
00:29:50,200 --> 00:29:52,920
Speaker 1: next week for another episode of Strictly Business.