1
00:00:02,200 --> 00:00:06,800
Speaker 1: This is Masters in Business with Barry Ridholts on Bloomberg Radio.

2
00:00:07,600 --> 00:00:11,280
Speaker 1: This week on the podcast, I have an extra special guest.

3
00:00:11,880 --> 00:00:14,640
Speaker 1: You might know him by the name of one Bite

4
00:00:14,640 --> 00:00:18,279
Speaker 1: with Davy page Views. Perhaps you know him by the

5
00:00:18,400 --> 00:00:22,840
Speaker 1: nickname Davy Day Trader Global. His name is Dave Portnoy,

6
00:00:22,880 --> 00:00:26,760
Speaker 1: and he is the founder of Barstool Sports. And he

7
00:00:26,840 --> 00:00:33,360
Speaker 1: has created a fascinating um franchise on the Internet, on

8
00:00:33,440 --> 00:00:39,520
Speaker 1: social media and videos that began essentially as a fanzine

9
00:00:39,600 --> 00:00:43,519
Speaker 1: covering sports in Boston and helping people with their bedding lines,

10
00:00:44,000 --> 00:00:48,479
Speaker 1: and he has blown up into a full pop cultural phenomena.

11
00:00:48,760 --> 00:00:53,160
Speaker 1: What's really intriguing to me is what he has built

12
00:00:53,240 --> 00:00:58,400
Speaker 1: As an entrepreneur. He recognized the power of original content.

13
00:00:59,000 --> 00:01:02,760
Speaker 1: He ended up a acting a dynamic cast of people

14
00:01:02,760 --> 00:01:10,760
Speaker 1: who were similarly enthusiastic about creating um fresh, funny, in

15
00:01:10,800 --> 00:01:16,160
Speaker 1: many ways um edgy content. And he's just blown up

16
00:01:16,160 --> 00:01:19,640
Speaker 1: into a full phenomenal. Bar Stool Sports is now part

17
00:01:19,680 --> 00:01:23,440
Speaker 1: of a publicly traded company, pen National Gaming. And if

18
00:01:23,480 --> 00:01:25,440
Speaker 1: you are in the content business, if you are at

19
00:01:25,440 --> 00:01:29,960
Speaker 1: all interested in sports or trading, or a whole a

20
00:01:29,959 --> 00:01:32,679
Speaker 1: lot of other stuff, including pizza, I think you're gonna

21
00:01:32,680 --> 00:01:36,200
Speaker 1: find this to be an absolutely fascinating interview. So, with

22
00:01:36,240 --> 00:01:41,520
Speaker 1: no further ado, my conversation with Barstool Sports Dave Portnoy.

23
00:01:43,720 --> 00:01:48,320
Speaker 1: This is Masters in Business with Barry Ridholts on Bloomberg Radio.

24
00:01:48,640 --> 00:01:51,520
Speaker 1: This week, I have an extra special guest. His name

25
00:01:51,560 --> 00:01:54,360
Speaker 1: is David Portnoy, and he is the founder of the

26
00:01:54,440 --> 00:01:59,080
Speaker 1: sports and pop culture blog barstool Sports that has expanded

27
00:01:59,160 --> 00:02:02,480
Speaker 1: into so many areas. I've really been looking forward to

28
00:02:02,600 --> 00:02:07,120
Speaker 1: this conversation. David Portnoy, Welcome to Bloomberg. Thanks for having me.

29
00:02:07,480 --> 00:02:10,720
Speaker 1: So let's go back in time a little bit. You

30
00:02:10,919 --> 00:02:15,959
Speaker 1: started Barstool Sports seventeen years ago. At the time, did

31
00:02:16,000 --> 00:02:19,120
Speaker 1: you have any idea what you were creating? What what

32
00:02:19,200 --> 00:02:22,880
Speaker 1: did you expect this to be? No, I had absolutely

33
00:02:22,919 --> 00:02:26,160
Speaker 1: no idea what what's gonna happen, the journey that's going

34
00:02:26,200 --> 00:02:29,000
Speaker 1: to go on. And really it didn't look any well,

35
00:02:29,440 --> 00:02:31,120
Speaker 1: I was gonna say it didn't look anything like it

36
00:02:31,160 --> 00:02:35,840
Speaker 1: did now. But it did start as a gambling fantasy newspaper,

37
00:02:36,080 --> 00:02:38,399
Speaker 1: you know, the four page black and white gambling rag

38
00:02:38,480 --> 00:02:41,320
Speaker 1: that used to hand out around t stations and subway

39
00:02:41,400 --> 00:02:44,799
Speaker 1: spots in Boston. We've come full circle since we're now,

40
00:02:44,960 --> 00:02:48,200
Speaker 1: you know, have a gambling app and got purchased by

41
00:02:48,240 --> 00:02:50,480
Speaker 1: Penn National, So it did come full circle. But no,

42
00:02:50,560 --> 00:02:52,200
Speaker 1: I had no idea. The truth of the matter is

43
00:02:52,440 --> 00:02:54,520
Speaker 1: I always wanted to try to start my own business,

44
00:02:54,840 --> 00:02:57,919
Speaker 1: with the goal being I would rather work for myself

45
00:02:58,320 --> 00:03:01,360
Speaker 1: than somebody else. I'd rather work, you know, a billion

46
00:03:01,360 --> 00:03:05,360
Speaker 1: hours a week than the normal typical work day where

47
00:03:05,800 --> 00:03:07,960
Speaker 1: it was a night to five. But I wasn't in

48
00:03:07,960 --> 00:03:10,400
Speaker 1: control of my own destiny. But I had no idea

49
00:03:10,720 --> 00:03:15,200
Speaker 1: what was about to come with parcel? No clue. And

50
00:03:15,600 --> 00:03:21,160
Speaker 1: you mentioned you're handing out written copies for pages. I

51
00:03:21,200 --> 00:03:24,760
Speaker 1: had heard way back when you were literally outside of

52
00:03:24,760 --> 00:03:28,920
Speaker 1: the Boston Garden and outside of other Boston sports arenas

53
00:03:29,240 --> 00:03:31,680
Speaker 1: handing this out to fans on the way into games.

54
00:03:32,080 --> 00:03:34,079
Speaker 1: How much of that has urban legend? And how how

55
00:03:34,120 --> 00:03:38,320
Speaker 1: true is that? Now? That's a true So the typical

56
00:03:38,480 --> 00:03:40,960
Speaker 1: day or a week, however, you want to look at

57
00:03:40,960 --> 00:03:43,080
Speaker 1: why I started it, It was myself. And you know,

58
00:03:43,120 --> 00:03:46,000
Speaker 1: there'd be all these fake names in the newspaper because

59
00:03:46,000 --> 00:03:47,520
Speaker 1: I didn't want people to know it was a one

60
00:03:47,560 --> 00:03:49,720
Speaker 1: man job, you know, So I had just made up

61
00:03:49,760 --> 00:03:52,600
Speaker 1: aliases for my sales guy in my marketing guy all

62
00:03:52,600 --> 00:03:55,120
Speaker 1: this stuff. But I would generally wake up about four

63
00:03:55,160 --> 00:03:59,880
Speaker 1: in the morning, go to a subway stop outside you know, Boston,

64
00:04:00,000 --> 00:04:02,680
Speaker 1: in the Financial District or wherever it may be. I'd

65
00:04:02,800 --> 00:04:05,480
Speaker 1: rotate and I would hand out the newspapers as they

66
00:04:05,520 --> 00:04:08,640
Speaker 1: were people heading into work, and I'd be yelling at

67
00:04:08,640 --> 00:04:11,480
Speaker 1: people like, we're at this newspaper, take the newspaper. And

68
00:04:11,520 --> 00:04:13,360
Speaker 1: then after I did that, so I would go from

69
00:04:13,680 --> 00:04:16,680
Speaker 1: wake up four, get the subway around five, five five

70
00:04:16,800 --> 00:04:20,719
Speaker 1: or steen, hand out newspapers probably till the morning rush

71
00:04:20,880 --> 00:04:24,040
Speaker 1: was done, I don't know, nine o'clock. Then I would

72
00:04:24,480 --> 00:04:28,040
Speaker 1: go home and I would write, I would do or

73
00:04:28,160 --> 00:04:30,360
Speaker 1: call for sales, ad to do everything else a day

74
00:04:30,360 --> 00:04:33,760
Speaker 1: to day. Then around three thirty four I'd head back

75
00:04:33,760 --> 00:04:36,719
Speaker 1: into the city and I would hand out newspapers again

76
00:04:36,800 --> 00:04:40,560
Speaker 1: to catch people on the afternoon commute, on the people's

77
00:04:40,600 --> 00:04:43,360
Speaker 1: way home from work. And then after that was done,

78
00:04:43,400 --> 00:04:45,680
Speaker 1: I would go back home right some more and try

79
00:04:45,720 --> 00:04:49,200
Speaker 1: to get asked to do everything else and the other

80
00:04:49,480 --> 00:04:52,280
Speaker 1: huge part of what I did. The newspaper started off

81
00:04:52,400 --> 00:04:55,080
Speaker 1: weekly in the beginning, but that was not the right

82
00:04:55,120 --> 00:04:57,440
Speaker 1: way to do it. It turned to bi weekly quickly.

83
00:04:57,880 --> 00:05:01,080
Speaker 1: And I was also the newspaper deliver boys. So I

84
00:05:01,160 --> 00:05:05,520
Speaker 1: bought this astro van off Craiglist. About eight bucks is

85
00:05:05,560 --> 00:05:07,800
Speaker 1: what I paid for it. And I would load up

86
00:05:08,080 --> 00:05:10,120
Speaker 1: the newspapers all the way to the roof, and I

87
00:05:10,160 --> 00:05:16,240
Speaker 1: would go on about paper route all around Boston, the suburbs,

88
00:05:16,240 --> 00:05:19,599
Speaker 1: outside of Austin, every single subway station, loading up my

89
00:05:19,680 --> 00:05:23,400
Speaker 1: news racks with the newspapers. So I come back looking,

90
00:05:23,440 --> 00:05:26,360
Speaker 1: you know, disheveled to say the least. So that was

91
00:05:26,440 --> 00:05:29,160
Speaker 1: that was my life. No vacation days, no nothing, but

92
00:05:29,320 --> 00:05:32,120
Speaker 1: probably about a decade. It was. It was a grind.

93
00:05:32,279 --> 00:05:36,960
Speaker 1: It was delivering newspaper, writing the newspaper, selling ads, pretty

94
00:05:37,000 --> 00:05:39,640
Speaker 1: much a one man show. Really what what was the

95
00:05:39,720 --> 00:05:43,320
Speaker 1: response to the actual printed product? How did how did

96
00:05:43,320 --> 00:05:48,159
Speaker 1: Bostonians feel about barstool sports as a four page hands out?

97
00:05:49,480 --> 00:05:52,160
Speaker 1: People loved it, you know, it's very different. And in

98
00:05:52,240 --> 00:05:55,440
Speaker 1: the early newspapers, I said us looking for writers, and

99
00:05:55,560 --> 00:06:01,040
Speaker 1: I got very lucky, and that we assembled a terrific

100
00:06:01,120 --> 00:06:03,640
Speaker 1: group of writers who stuck with me and worked for free.

101
00:06:04,000 --> 00:06:06,120
Speaker 1: So the early days, just because they want to write,

102
00:06:06,160 --> 00:06:09,320
Speaker 1: they enjoyed it, and so the content was very different

103
00:06:09,320 --> 00:06:11,800
Speaker 1: and always evolving. It was always humorous. It's a different

104
00:06:11,800 --> 00:06:14,280
Speaker 1: taken and slowly more of a way from just strictly

105
00:06:14,360 --> 00:06:19,240
Speaker 1: gambling and sports to more men's lifestyle. But it was

106
00:06:19,440 --> 00:06:23,440
Speaker 1: always a good reception. And when I judge it was

107
00:06:23,880 --> 00:06:26,360
Speaker 1: ten people took the paper and said they enjoyed it.

108
00:06:26,560 --> 00:06:29,240
Speaker 1: You know, the first time I did it, the next

109
00:06:29,279 --> 00:06:32,479
Speaker 1: issue would be twenty people, and the next issue be forty,

110
00:06:32,520 --> 00:06:36,160
Speaker 1: and the next eighty. So it always was slowly growing,

111
00:06:36,720 --> 00:06:38,839
Speaker 1: and there was something in my gut that's like I'm

112
00:06:38,880 --> 00:06:41,599
Speaker 1: onto something here. I don't know what it is, but

113
00:06:42,440 --> 00:06:45,640
Speaker 1: it felt like it was growing every single week, and

114
00:06:45,720 --> 00:06:48,640
Speaker 1: it was it was hard to put it into words.

115
00:06:49,240 --> 00:06:51,960
Speaker 1: And I've also said, this is the only business I've

116
00:06:51,960 --> 00:06:56,240
Speaker 1: ever started in. Obviously the post businesses failed, especially in

117
00:06:56,360 --> 00:06:59,800
Speaker 1: the print industry. So you know, I don't know if

118
00:06:59,800 --> 00:07:03,120
Speaker 1: I about somewhat lucky on one for one and who knows,

119
00:07:03,160 --> 00:07:06,240
Speaker 1: but I always had that stut feeling, hey, this is

120
00:07:06,480 --> 00:07:09,200
Speaker 1: this is picking up. If I just stick with it,

121
00:07:09,200 --> 00:07:12,040
Speaker 1: it's growing, it's growing, it's growing. So I always got

122
00:07:12,040 --> 00:07:15,880
Speaker 1: a good reception. So at what point did that growth

123
00:07:16,200 --> 00:07:20,720
Speaker 1: ramp up to where the business outgrew your ability to

124
00:07:20,800 --> 00:07:23,360
Speaker 1: run it if you're a jack of old trades. At

125
00:07:23,360 --> 00:07:27,320
Speaker 1: a certain point you can't do everything. When when did

126
00:07:27,320 --> 00:07:29,800
Speaker 1: it cross that line where hey, I need some help

127
00:07:29,840 --> 00:07:34,080
Speaker 1: to manage this. Yeah, probably so start around two thousand four.

128
00:07:34,200 --> 00:07:38,960
Speaker 1: Probably around two thousand and ten we're more hiring other writers.

129
00:07:39,000 --> 00:07:42,280
Speaker 1: But I really did a bunch of it people. The

130
00:07:42,400 --> 00:07:45,440
Speaker 1: model I went with and the first employee ever had

131
00:07:45,600 --> 00:07:49,000
Speaker 1: is still with me. Who I call sales guy. You know,

132
00:07:49,120 --> 00:07:53,000
Speaker 1: the model was prove yourself and won't pay you. You

133
00:07:53,000 --> 00:07:54,720
Speaker 1: want to work for me, if you can sell ads,

134
00:07:54,760 --> 00:07:57,480
Speaker 1: I'll give you a huge commission, thirty percent commission, fifty

135
00:07:57,480 --> 00:08:00,400
Speaker 1: percent commission. There's no risk on my end. If willing

136
00:08:00,440 --> 00:08:02,560
Speaker 1: to do it, you can do it. So we had

137
00:08:02,760 --> 00:08:06,000
Speaker 1: a very you know, prove it. Like if somebody said

138
00:08:06,000 --> 00:08:07,720
Speaker 1: they wanted to work for us or to do something.

139
00:08:08,360 --> 00:08:11,000
Speaker 1: It really was, will give you the opportunity, but you're

140
00:08:11,040 --> 00:08:13,120
Speaker 1: not going to get like you're gonna have to earn

141
00:08:13,160 --> 00:08:15,320
Speaker 1: everything you get. Once you earn it, then you got

142
00:08:15,320 --> 00:08:18,360
Speaker 1: a spot at the table, so to speak. But it was,

143
00:08:18,680 --> 00:08:23,280
Speaker 1: you know, we really did it bootstrap and watch costs

144
00:08:23,280 --> 00:08:27,480
Speaker 1: and all that stuff. Once we switched, so basically I

145
00:08:27,560 --> 00:08:30,720
Speaker 1: did everything again. We were able to get some advertisers,

146
00:08:31,120 --> 00:08:34,839
Speaker 1: and once we switched the website, you know rendant advertising

147
00:08:34,840 --> 00:08:38,040
Speaker 1: and banner advertising, you didn't need a huge staff or

148
00:08:38,080 --> 00:08:40,800
Speaker 1: force to really run the thing. You needed more people

149
00:08:40,840 --> 00:08:43,200
Speaker 1: to try to grow it more than anything. And that

150
00:08:43,320 --> 00:08:47,360
Speaker 1: was something I did consistently throughout Barstool's career. Is I

151
00:08:47,400 --> 00:08:49,600
Speaker 1: didn't really take any profit or money off the table,

152
00:08:49,679 --> 00:08:52,640
Speaker 1: even when money start coming in, I just kept reinvesting it,

153
00:08:52,760 --> 00:08:56,360
Speaker 1: reinvesting it, hiring more people, trying new events, trying new

154
00:08:56,400 --> 00:08:59,120
Speaker 1: things to try to grow the brand. Let's talk a

155
00:08:59,160 --> 00:09:03,080
Speaker 1: little bit out the team you mentioned earlier, because it's

156
00:09:03,080 --> 00:09:06,920
Speaker 1: not just Dave Portnoy. You've gotten, pardon my take, KFC

157
00:09:07,160 --> 00:09:10,600
Speaker 1: radio chicks in the office caller Daddy. Are you guys

158
00:09:10,679 --> 00:09:13,520
Speaker 1: like the Avengers? Do you assemble the whole team and

159
00:09:13,520 --> 00:09:18,280
Speaker 1: and go out? How does that mass come together? Yeah? So,

160
00:09:18,440 --> 00:09:21,040
Speaker 1: you know, I a lot of times I say we

161
00:09:21,080 --> 00:09:26,280
Speaker 1: are one of the oldest digital media companies on the planet.

162
00:09:26,360 --> 00:09:29,360
Speaker 1: So when I started Barstool, it was a newspaper, as

163
00:09:29,400 --> 00:09:32,760
Speaker 1: we discussed, and then it morphed to a blog. And

164
00:09:32,800 --> 00:09:35,480
Speaker 1: when we started blogging, if you told somebody what a

165
00:09:35,520 --> 00:09:37,439
Speaker 1: blog was, they would have been like what is that.

166
00:09:37,800 --> 00:09:41,000
Speaker 1: We're very early to the game. And I also say

167
00:09:41,360 --> 00:09:45,040
Speaker 1: the Barstool Sports was born from the Internet. So all

168
00:09:45,080 --> 00:09:48,200
Speaker 1: of the talent, all the people we have, the only

169
00:09:48,240 --> 00:09:51,559
Speaker 1: way people know who they are is because they were

170
00:09:51,600 --> 00:09:55,880
Speaker 1: able to essentially stand out by working harder, smarter, being funny.

171
00:09:55,920 --> 00:09:58,600
Speaker 1: It's not because they put on ESPN or something like that.

172
00:09:59,000 --> 00:10:01,960
Speaker 1: So we were born from a different generation and we

173
00:10:02,000 --> 00:10:04,920
Speaker 1: had a good eye for talent and podcasting. We were

174
00:10:05,040 --> 00:10:08,920
Speaker 1: very early too, and we let our talent basically do

175
00:10:09,679 --> 00:10:12,840
Speaker 1: whatever they want as long as we think you're funny,

176
00:10:12,880 --> 00:10:16,040
Speaker 1: and it's like, okay, this person may have something, We'll

177
00:10:16,120 --> 00:10:18,840
Speaker 1: let you run wild, so you know, call her Daddy.

178
00:10:18,920 --> 00:10:21,880
Speaker 1: Is an example that is probably a pretty good one

179
00:10:22,400 --> 00:10:26,080
Speaker 1: and not everyone's cup of tea, but the largest female

180
00:10:26,280 --> 00:10:29,920
Speaker 1: probably podcast in the world. I mean, it's gigantic and

181
00:10:30,000 --> 00:10:33,920
Speaker 1: it's a girl, Alex Cooper, who we saw a very

182
00:10:34,000 --> 00:10:37,360
Speaker 1: rough sketch of a podcast she did. It's like, oh,

183
00:10:37,360 --> 00:10:39,840
Speaker 1: this is interesting, this is something we haven't seen before,

184
00:10:40,320 --> 00:10:43,760
Speaker 1: and and there was a promo video with it that

185
00:10:43,840 --> 00:10:46,920
Speaker 1: was very slick. It looked like it was professionally done.

186
00:10:47,360 --> 00:10:49,280
Speaker 1: So we reached out to her and had a meeting

187
00:10:49,280 --> 00:10:52,240
Speaker 1: with her and I sat down and she's a beautiful

188
00:10:52,240 --> 00:10:55,080
Speaker 1: blonde girl, and I was like, who made this? Who

189
00:10:55,160 --> 00:10:58,240
Speaker 1: made this video? This this promo video? And she's like,

190
00:10:58,360 --> 00:11:01,280
Speaker 1: I did, I edited it, I got it, I did everything.

191
00:11:01,320 --> 00:11:03,880
Speaker 1: I learned how to do it all myself. And that

192
00:11:04,160 --> 00:11:06,120
Speaker 1: was when it's like, Okay, we're gonna We're gonna give

193
00:11:06,120 --> 00:11:09,360
Speaker 1: her a chance because that's the type of like basically

194
00:11:09,440 --> 00:11:13,360
Speaker 1: motivation desire that we look for. Somebody has something unique

195
00:11:13,520 --> 00:11:19,560
Speaker 1: and also the basically the energy and the motivation to

196
00:11:19,679 --> 00:11:23,520
Speaker 1: do something like that. And they've exploded almost instantly. But

197
00:11:23,880 --> 00:11:26,840
Speaker 1: and I barely listened to any of the episodes, but

198
00:11:26,920 --> 00:11:30,240
Speaker 1: it was clearly something different. She was clearly a talent.

199
00:11:30,600 --> 00:11:33,960
Speaker 1: We put the Barstool marketing engine behind it, and with

200
00:11:34,080 --> 00:11:36,600
Speaker 1: podcasting right now, I think we have the number one

201
00:11:36,640 --> 00:11:40,400
Speaker 1: hockey podcast, the number one football podcast, number one female podcast.

202
00:11:40,960 --> 00:11:43,560
Speaker 1: What our audience is very good at. Don't give you

203
00:11:43,600 --> 00:11:45,680
Speaker 1: a chance, and if you have something unique and good,

204
00:11:45,960 --> 00:11:48,520
Speaker 1: you'll have a huge hit right off the bat. And

205
00:11:50,120 --> 00:11:53,080
Speaker 1: iron well, not ironically, but one of the things I

206
00:11:53,080 --> 00:11:55,920
Speaker 1: always said about Barstool or my goals once we started

207
00:11:56,120 --> 00:11:59,760
Speaker 1: actually making progress and when I sold the Turning Group,

208
00:11:59,760 --> 00:12:02,840
Speaker 1: the time, I wanted Barstool to be the place that

209
00:12:03,000 --> 00:12:07,160
Speaker 1: a young college graduate who is in comedy, the first

210
00:12:07,160 --> 00:12:10,160
Speaker 1: place they applied to work is Barstool. They used to

211
00:12:10,200 --> 00:12:13,520
Speaker 1: maybe be Saturday Night Live or or you know, I

212
00:12:13,520 --> 00:12:16,160
Speaker 1: don't know, some other comedy brand. I wanted it to

213
00:12:16,200 --> 00:12:18,280
Speaker 1: be us, and we're sort of there. So we have

214
00:12:18,360 --> 00:12:21,000
Speaker 1: our pick of the crop of all these talented people.

215
00:12:21,320 --> 00:12:24,000
Speaker 1: The hardest thing is actually going through the applications to

216
00:12:24,120 --> 00:12:28,640
Speaker 1: find talent. It's a huge advantage. Speaking of talent, you

217
00:12:28,800 --> 00:12:32,720
Speaker 1: just signed a deal with Dion Sanders. How on earth

218
00:12:32,760 --> 00:12:37,080
Speaker 1: did that come to fruition? That's a giant name. Yeah,

219
00:12:37,280 --> 00:12:41,079
Speaker 1: so we have another podcast that we uh signed million

220
00:12:41,120 --> 00:12:44,240
Speaker 1: dollars worth. The game based out of Philadelphia. Again, something

221
00:12:44,280 --> 00:12:46,120
Speaker 1: I had never I've never heard of either the guy's

222
00:12:46,120 --> 00:12:50,600
Speaker 1: Wallow and Gilly their Philly legend um, you know, very

223
00:12:50,600 --> 00:12:53,480
Speaker 1: well known actually that like Gilly was the ghostwriter for

224
00:12:53,760 --> 00:12:57,240
Speaker 1: Little Wayne. So we listened to their podcast in right

225
00:12:57,280 --> 00:12:59,760
Speaker 1: away we thought, oh, this is a hit, this is

226
00:13:00,400 --> 00:13:03,199
Speaker 1: we need this, and so we signed those guys. They

227
00:13:03,240 --> 00:13:06,360
Speaker 1: were friends with Dion Sanders, who was looking for maybe

228
00:13:06,400 --> 00:13:10,040
Speaker 1: new opportunities, opportunities to be himself. Basically because when you're

229
00:13:10,040 --> 00:13:12,240
Speaker 1: on a network, he's on NFL network, you have to

230
00:13:12,280 --> 00:13:14,320
Speaker 1: watch what you say, you have to be guarded, and

231
00:13:14,440 --> 00:13:17,920
Speaker 1: right now, people want unfiltered, they want authenticity. So he

232
00:13:18,000 --> 00:13:20,160
Speaker 1: was looking for a place where he could be himself.

233
00:13:20,559 --> 00:13:23,080
Speaker 1: It was one of those marriages. The second we met

234
00:13:23,120 --> 00:13:25,040
Speaker 1: with him, we kind of knew that we were the

235
00:13:25,120 --> 00:13:27,520
Speaker 1: right partner for each other. And to be honest, he

236
00:13:27,559 --> 00:13:30,559
Speaker 1: has been and it's it's early, but he has fit

237
00:13:30,640 --> 00:13:33,880
Speaker 1: into the barcel culture as well as anybody possibly could.

238
00:13:34,440 --> 00:13:39,000
Speaker 1: People would be stunned the general public on how many

239
00:13:39,600 --> 00:13:43,160
Speaker 1: people have the talent at other established networks who want

240
00:13:43,160 --> 00:13:46,280
Speaker 1: to all come work for us because we're competitive pay

241
00:13:46,320 --> 00:13:48,880
Speaker 1: wise with all of them may be better, and there's

242
00:13:48,880 --> 00:13:51,760
Speaker 1: no there's no you know, Restrectes. You can be yourself.

243
00:13:51,800 --> 00:13:54,000
Speaker 1: We want you to be yourself. We're never gonna say, hey,

244
00:13:54,000 --> 00:13:56,719
Speaker 1: you can't say that, you can't say this. Everybody can

245
00:13:56,760 --> 00:13:59,640
Speaker 1: be exactly who they are, and we find that that

246
00:14:00,000 --> 00:14:01,760
Speaker 1: amula works for us and a lot of people want

247
00:14:01,800 --> 00:14:04,199
Speaker 1: to be a part of it. So we've seen some

248
00:14:04,400 --> 00:14:08,640
Speaker 1: upstart digital brands that started on the Internet like Vice

249
00:14:08,880 --> 00:14:13,120
Speaker 1: and a CEOs explode into the video space. Either with

250
00:14:13,320 --> 00:14:18,920
Speaker 1: HBO or some other broadcasting UM channel. What are you

251
00:14:18,920 --> 00:14:21,360
Speaker 1: guys thinking about in terms of bar stool sports? So

252
00:14:21,440 --> 00:14:26,240
Speaker 1: we're gonna ever see that on a mainstream cable channel,

253
00:14:27,880 --> 00:14:31,520
Speaker 1: I don't know. We had a brief dance with ESPN.

254
00:14:31,920 --> 00:14:36,200
Speaker 1: Uh for part of my take, they they greenlit TV

255
00:14:36,360 --> 00:14:39,640
Speaker 1: show UM and then they canceled it because there were

256
00:14:39,640 --> 00:14:41,800
Speaker 1: there were people at ESPN who don't like us, and

257
00:14:41,840 --> 00:14:46,320
Speaker 1: we have our detractors uh in ESPN. That that left

258
00:14:46,960 --> 00:14:50,000
Speaker 1: a bad taste in my mouth. Uh. I was hesitants

259
00:14:50,040 --> 00:14:52,840
Speaker 1: of that deal to begin with. The thing that we

260
00:14:53,080 --> 00:14:55,880
Speaker 1: need UM to do a deal like that is to

261
00:14:55,920 --> 00:14:59,400
Speaker 1: find a partner who knows exactly who we are, who

262
00:15:00,280 --> 00:15:03,760
Speaker 1: did their research, who can stand by us in the

263
00:15:03,800 --> 00:15:07,080
Speaker 1: first time you know, the wind blows maybe the wrong way,

264
00:15:07,360 --> 00:15:10,080
Speaker 1: they don't run for the hills. I thought ESPN was

265
00:15:10,200 --> 00:15:13,840
Speaker 1: wildly coward was cowardly and how they dealt with us,

266
00:15:14,360 --> 00:15:18,840
Speaker 1: UM and you know, my instinct sensed it. So it

267
00:15:18,920 --> 00:15:23,240
Speaker 1: would have to be the exact right, perfect guilty because honest,

268
00:15:23,840 --> 00:15:26,160
Speaker 1: unlike a lot of digital media comes to this, we

269
00:15:26,240 --> 00:15:30,000
Speaker 1: can bring people to network, which is TV and an

270
00:15:30,000 --> 00:15:33,200
Speaker 1: older demo like no other brand. We bring a lot

271
00:15:33,240 --> 00:15:35,480
Speaker 1: more than I think they bring to us, So it

272
00:15:35,680 --> 00:15:38,760
Speaker 1: really have to be the absolutely perfect deal for us

273
00:15:38,800 --> 00:15:40,760
Speaker 1: to do that. Again, I think it would be more

274
00:15:40,840 --> 00:15:43,440
Speaker 1: likely we buy a network, to be honest, and just

275
00:15:43,520 --> 00:15:47,440
Speaker 1: run our own channel. So it sounds like you spend

276
00:15:47,480 --> 00:15:50,840
Speaker 1: a lot of time thinking about business strategy and your

277
00:15:50,880 --> 00:15:54,640
Speaker 1: overall media approach. How do you spend your day, How

278
00:15:54,720 --> 00:15:57,320
Speaker 1: much of it is on creating content and how much

279
00:15:57,320 --> 00:16:00,400
Speaker 1: of it is on these bigger picture Hey, we want

280
00:16:00,400 --> 00:16:02,720
Speaker 1: to hook up with this company? Do we want to

281
00:16:02,760 --> 00:16:06,400
Speaker 1: create something new with that company? That's one of the

282
00:16:06,400 --> 00:16:11,640
Speaker 1: toughest challenges I have. Um, I think my role me personally,

283
00:16:12,200 --> 00:16:15,240
Speaker 1: and I'm sure maybe there's others like it, but I

284
00:16:15,320 --> 00:16:19,560
Speaker 1: can't really think of anybody who is as involved in

285
00:16:19,600 --> 00:16:24,359
Speaker 1: the content in a company as well as the big picture. Obviously,

286
00:16:24,400 --> 00:16:27,680
Speaker 1: we have a CEO who's unbelievable, Eric and Ardini, best

287
00:16:27,720 --> 00:16:31,680
Speaker 1: higher we've ever made. But you know I we work

288
00:16:31,760 --> 00:16:35,880
Speaker 1: closely on almost everything, so it is a mix. Um,

289
00:16:35,960 --> 00:16:39,440
Speaker 1: it varies, like the day trading stuff I'm still doing.

290
00:16:40,320 --> 00:16:42,120
Speaker 1: We had a big deal that a lot of people

291
00:16:42,200 --> 00:16:45,280
Speaker 1: know about what Penn National and we just launched our

292
00:16:45,280 --> 00:16:49,200
Speaker 1: Barstool sports book in Pennsylvania. Um, so I'm pushing that

293
00:16:49,920 --> 00:16:53,040
Speaker 1: now and doing content with that, but there's much larger

294
00:16:53,320 --> 00:16:56,160
Speaker 1: discussions on the way to you know, roll that out

295
00:16:56,320 --> 00:17:00,400
Speaker 1: nationally and acquisitions and things we want to do. So

296
00:17:00,440 --> 00:17:02,760
Speaker 1: it really varies day to day, but I'd almost say

297
00:17:02,760 --> 00:17:08,159
Speaker 1: it's sixty forty business verse content at this point. But

298
00:17:08,320 --> 00:17:12,040
Speaker 1: quite interesting you mentioned Eric Nardini, she's your CEO. How

299
00:17:12,080 --> 00:17:14,720
Speaker 1: did you find her and what does she do for

300
00:17:14,840 --> 00:17:21,359
Speaker 1: barstool so Erica. So so, basically I sold half of

301
00:17:21,480 --> 00:17:25,840
Speaker 1: Barstool Sports to the Turning Group. Uh and I believe

302
00:17:25,880 --> 00:17:30,280
Speaker 1: it was two thousand sixteen ish two thousand sixteen, and

303
00:17:30,480 --> 00:17:33,000
Speaker 1: Barstool was about ten to fifteen people at that time,

304
00:17:33,320 --> 00:17:36,919
Speaker 1: and we were we were just didn't have time to

305
00:17:36,960 --> 00:17:38,960
Speaker 1: do anything on the business side. It was all making

306
00:17:39,000 --> 00:17:42,240
Speaker 1: content and making content and making content. And part of

307
00:17:42,240 --> 00:17:44,360
Speaker 1: the thing I said when that was Turning, we gotta

308
00:17:44,440 --> 00:17:47,639
Speaker 1: hire CEO to basically run the business side. I always

309
00:17:47,680 --> 00:17:52,080
Speaker 1: felt we had this huge audience, but we weren't overly organized.

310
00:17:52,520 --> 00:17:54,560
Speaker 1: On the business side. We did a lot of we

311
00:17:54,640 --> 00:17:56,760
Speaker 1: just didn't do things that a lot of other similar

312
00:17:56,800 --> 00:17:59,440
Speaker 1: companies were doing. And if we could, you know, get

313
00:17:59,440 --> 00:18:02,320
Speaker 1: the business in order we'd be putting gas on a fire.

314
00:18:02,800 --> 00:18:05,359
Speaker 1: So they agreed, and right away. One of the first

315
00:18:05,359 --> 00:18:07,879
Speaker 1: things we did after the acquisition was set out to

316
00:18:07,920 --> 00:18:11,720
Speaker 1: find a CEO. They hired a recruiting firm, high powered

317
00:18:11,760 --> 00:18:15,000
Speaker 1: recruiting firm. They had seventy I think interviews are so

318
00:18:15,320 --> 00:18:18,040
Speaker 1: all men. None of them made it to the second round.

319
00:18:18,080 --> 00:18:20,760
Speaker 1: I just none of them clicked. Uh. It was always

320
00:18:20,760 --> 00:18:23,520
Speaker 1: they were telling us what we should do, and you

321
00:18:23,560 --> 00:18:25,480
Speaker 1: should do this, you should do that. I think you

322
00:18:25,480 --> 00:18:28,159
Speaker 1: should change this. I think you should change that, and

323
00:18:28,280 --> 00:18:31,920
Speaker 1: it just didn't click. We had a woman by the

324
00:18:32,000 --> 00:18:34,800
Speaker 1: name of Betsy Morgan who used to be the CEO

325
00:18:34,880 --> 00:18:37,800
Speaker 1: of the Huffington Post. I'm a Nantucket guy. She she

326
00:18:38,000 --> 00:18:40,960
Speaker 1: spent time in Nantucket and I was introduced to her

327
00:18:41,440 --> 00:18:44,359
Speaker 1: and she became I think our only like advisor. She

328
00:18:44,520 --> 00:18:46,879
Speaker 1: was basically an advisor to Barstool. We hit it off

329
00:18:47,200 --> 00:18:49,119
Speaker 1: and one day she was in my neck of the

330
00:18:49,119 --> 00:18:51,240
Speaker 1: woods in New York. She's like, you want to meet

331
00:18:51,240 --> 00:18:53,880
Speaker 1: for a coffee? Was like, sure, So I walked over.

332
00:18:54,480 --> 00:18:57,920
Speaker 1: In with her was Erica Nardini, who was friends. So

333
00:18:58,400 --> 00:19:00,840
Speaker 1: Erica just happened to be there for the for the

334
00:19:01,000 --> 00:19:03,920
Speaker 1: coffee and Erica and I started talking and she was

335
00:19:04,000 --> 00:19:07,560
Speaker 1: a fan of bar School and everything. She said that

336
00:19:07,640 --> 00:19:10,640
Speaker 1: she liked about barstool in the Business Model. I was like, Yep,

337
00:19:10,800 --> 00:19:13,679
Speaker 1: that's what I think. That's what I think. So after

338
00:19:14,160 --> 00:19:16,159
Speaker 1: Eric and I met, I called the Turn of Guys

339
00:19:16,480 --> 00:19:18,000
Speaker 1: and I was like, have you ever heard of Erica

340
00:19:18,000 --> 00:19:20,919
Speaker 1: and Nardini? They had She was a former CMO of

341
00:19:21,400 --> 00:19:23,760
Speaker 1: a O L and like, I just met with her

342
00:19:23,960 --> 00:19:26,040
Speaker 1: and I love her, Like, I think she's the perfect

343
00:19:26,080 --> 00:19:28,639
Speaker 1: fit if she's willing to do it. So they reached

344
00:19:28,680 --> 00:19:32,280
Speaker 1: out to Erica to gauge interest. She had just started

345
00:19:32,280 --> 00:19:34,480
Speaker 1: her own company, so she was like, let me think

346
00:19:34,520 --> 00:19:36,960
Speaker 1: about this for a day or two, and she came

347
00:19:37,000 --> 00:19:38,639
Speaker 1: back to said, yes, this is too good of an

348
00:19:38,640 --> 00:19:42,280
Speaker 1: opportunity to pass. Let me meet with the guys um

349
00:19:42,320 --> 00:19:44,960
Speaker 1: and she did and that started the process. So it

350
00:19:45,000 --> 00:19:47,679
Speaker 1: was unintentional. A lot of people, one of my pet peas,

351
00:19:48,040 --> 00:19:50,280
Speaker 1: there's a lot of people say we hired Erica because

352
00:19:50,280 --> 00:19:52,840
Speaker 1: she's a female. It was all male company, and it

353
00:19:52,960 --> 00:19:55,639
Speaker 1: just couldn't be further further from the truth. It's insulting

354
00:19:55,760 --> 00:19:58,080
Speaker 1: to me, it's felt like to her, but she has

355
00:19:58,119 --> 00:20:03,040
Speaker 1: been the absolute perfect higher and the most important higher

356
00:20:03,119 --> 00:20:07,480
Speaker 1: that we've had. Let's talk about something that is really serious.

357
00:20:08,200 --> 00:20:11,879
Speaker 1: You're part of pen Gaming. How did that come about?

358
00:20:11,920 --> 00:20:15,040
Speaker 1: And what's it like being part of this giant company.

359
00:20:16,520 --> 00:20:19,000
Speaker 1: Y As we mentioned in the early part of the interview,

360
00:20:19,040 --> 00:20:22,520
Speaker 1: Parcels sports actually started back in the newspaper days as

361
00:20:22,520 --> 00:20:25,880
Speaker 1: a gambling and fantasy rag as a newspaper I handed

362
00:20:25,880 --> 00:20:28,120
Speaker 1: out about a year and a half ago. I don't

363
00:20:28,119 --> 00:20:32,320
Speaker 1: know the exact date, but the legislation on sports gambling

364
00:20:32,480 --> 00:20:35,560
Speaker 1: was overturned in the United States. So always it had

365
00:20:35,640 --> 00:20:38,679
Speaker 1: been illegal, and now it was going to be legal,

366
00:20:38,760 --> 00:20:41,960
Speaker 1: and on a state by state basis, states could decide

367
00:20:41,960 --> 00:20:45,760
Speaker 1: whether they want to allow it once that law was changed.

368
00:20:46,280 --> 00:20:50,040
Speaker 1: I basically knew this is a huge opportunity for Barceol

369
00:20:50,080 --> 00:20:54,320
Speaker 1: because our core DNA was sports gambling, so and I

370
00:20:54,359 --> 00:20:56,879
Speaker 1: knew there was gonna be basically a gold rush of

371
00:20:57,000 --> 00:21:00,119
Speaker 1: all these companies trying to get in this industry. So

372
00:21:00,200 --> 00:21:04,960
Speaker 1: we had meetings with everybody under the Son Vandal, Draftking, MGM,

373
00:21:05,160 --> 00:21:07,800
Speaker 1: Stars Group, you name it. We met with them, and

374
00:21:08,080 --> 00:21:12,560
Speaker 1: you know, none of them actually yielded solid offer, which

375
00:21:12,600 --> 00:21:15,199
Speaker 1: stunned me. Which absolutely stunned me because I thought it

376
00:21:15,200 --> 00:21:17,480
Speaker 1: was a no brainer fit that one of these companies

377
00:21:17,520 --> 00:21:21,639
Speaker 1: should acquire Bars to give them a gigantic competitive advantage

378
00:21:21,720 --> 00:21:24,760
Speaker 1: because how good we are at acquiring clients. And then

379
00:21:24,800 --> 00:21:28,199
Speaker 1: we met penn National Gaming and Jasonde in the CEO,

380
00:21:28,880 --> 00:21:32,200
Speaker 1: and almost instantly we clicked with them. I had actually

381
00:21:32,240 --> 00:21:36,159
Speaker 1: never heard of them, and primarily because they're a huge

382
00:21:36,280 --> 00:21:41,080
Speaker 1: regional casino operator and all the casinos are operating or

383
00:21:41,119 --> 00:21:43,640
Speaker 1: most of them under unique names, so you know they're

384
00:21:43,680 --> 00:21:46,560
Speaker 1: all different. You made like I had been in their casinos,

385
00:21:46,560 --> 00:21:48,800
Speaker 1: but I didn't know that I had been in their casinos,

386
00:21:48,880 --> 00:21:51,880
Speaker 1: if that makes any sense. So we met with them

387
00:21:51,880 --> 00:21:54,840
Speaker 1: and it was a perfect marriage because they had this

388
00:21:55,000 --> 00:22:00,159
Speaker 1: huge casino brand which grants them access and licenses into

389
00:22:00,320 --> 00:22:04,200
Speaker 1: so many different states, but they didn't have a well

390
00:22:04,240 --> 00:22:08,440
Speaker 1: known brand. We have a well known brand, but no access.

391
00:22:08,440 --> 00:22:12,960
Speaker 1: Though the deal was struck basically that Penn National would

392
00:22:14,000 --> 00:22:16,399
Speaker 1: they bought a like I think it's thirty six, with

393
00:22:16,480 --> 00:22:18,680
Speaker 1: the option to buy more in three years and get

394
00:22:18,680 --> 00:22:22,440
Speaker 1: the whole company, and they would lead their sports gambling

395
00:22:22,440 --> 00:22:25,400
Speaker 1: efforts with our brand. So the Barstool sports book, which

396
00:22:25,480 --> 00:22:29,280
Speaker 1: just launched on Friday in Pennsylvania and we'll be rolling

397
00:22:29,280 --> 00:22:32,360
Speaker 1: out across the country in states we have access. So

398
00:22:32,400 --> 00:22:35,480
Speaker 1: it's the perfect kind of mix of Pen having all

399
00:22:35,520 --> 00:22:39,199
Speaker 1: these physical properties and the licenses in Barstool having the

400
00:22:39,280 --> 00:22:43,879
Speaker 1: online presence in digital marketing, combining forces to hopefully become

401
00:22:43,920 --> 00:22:47,600
Speaker 1: one of the premier gambling companies in the United States.

402
00:22:47,640 --> 00:22:51,080
Speaker 1: So you have some pretty big competitors in that space.

403
00:22:51,359 --> 00:22:55,520
Speaker 1: You have DraftKings, Fan Duel, there's lots of other smaller entities.

404
00:22:56,080 --> 00:23:00,480
Speaker 1: How does barstool compete with the big guy is and

405
00:23:00,600 --> 00:23:05,199
Speaker 1: what is your specific advantage that nobody else seems to

406
00:23:05,200 --> 00:23:09,280
Speaker 1: be able to match. So yeah, and they are big,

407
00:23:09,359 --> 00:23:12,760
Speaker 1: they're big competitors, and and I know them intimately because

408
00:23:12,920 --> 00:23:15,439
Speaker 1: we've been working with those guys for a decade. Like

409
00:23:15,480 --> 00:23:17,960
Speaker 1: at one point for Raftkings, I was offered equity and

410
00:23:18,400 --> 00:23:21,960
Speaker 1: just so they could lock us up exclusively for advertising.

411
00:23:22,160 --> 00:23:24,400
Speaker 1: This is a long time ago. So we know those

412
00:23:24,400 --> 00:23:27,320
Speaker 1: guys well, and they're not going anywhere. They They've done

413
00:23:27,400 --> 00:23:28,960
Speaker 1: very well with what they've done, and they have a

414
00:23:29,080 --> 00:23:34,400
Speaker 1: huge database. What we're good at is and what why

415
00:23:34,520 --> 00:23:38,440
Speaker 1: Pen invested because we can reach our crowd, our audience

416
00:23:38,480 --> 00:23:42,800
Speaker 1: who was wildly loyal and wildly engaged and get them

417
00:23:42,840 --> 00:23:46,119
Speaker 1: to download the bar Flo sports book app play place

418
00:23:46,240 --> 00:23:50,560
Speaker 1: bets through us without spending really any money on marketing.

419
00:23:50,680 --> 00:23:53,800
Speaker 1: So right now what you have is a marketing war.

420
00:23:54,160 --> 00:23:57,119
Speaker 1: If you watch a football game, you'll probably see thirty

421
00:23:57,200 --> 00:24:01,479
Speaker 1: seven different ads from you know, pen different companies, all

422
00:24:01,640 --> 00:24:04,840
Speaker 1: basically saying the same thing. Combat with us, you get

423
00:24:04,880 --> 00:24:06,879
Speaker 1: ten dollars here a hundred dollars day are pre five

424
00:24:06,960 --> 00:24:10,480
Speaker 1: hundred dollar bet. It's all whitewashed. There's so much of

425
00:24:10,520 --> 00:24:13,280
Speaker 1: it in a weird way. It's like our race to

426
00:24:13,320 --> 00:24:15,320
Speaker 1: the bottom. There's only going to be so many of

427
00:24:15,320 --> 00:24:19,000
Speaker 1: these companies that can survive. We will compete and compete

428
00:24:19,040 --> 00:24:24,040
Speaker 1: effectively while most likely being profitable, which will be probably

429
00:24:24,160 --> 00:24:26,919
Speaker 1: the only company that can say that. Because we're not

430
00:24:26,960 --> 00:24:30,119
Speaker 1: gonna have the marketing costs that these other companies have.

431
00:24:30,359 --> 00:24:34,119
Speaker 1: They have to spend, spend, spend to get any share,

432
00:24:34,640 --> 00:24:37,479
Speaker 1: or else they won't get it. Because no one really

433
00:24:37,560 --> 00:24:43,560
Speaker 1: cares about DraftKings versus Fandel versus MGM versus points bet.

434
00:24:43,640 --> 00:24:46,399
Speaker 1: They don't with us. They're playing with us because of

435
00:24:46,400 --> 00:24:49,159
Speaker 1: our logo, because it's a seventeen year story, because they

436
00:24:49,240 --> 00:24:52,480
Speaker 1: root for us. That's why I think if you look

437
00:24:52,560 --> 00:24:55,639
Speaker 1: before we did the deal with pen there's like a

438
00:24:55,800 --> 00:24:58,600
Speaker 1: handful of robin Hood traders who owned it. Now it's

439
00:24:58,640 --> 00:25:01,880
Speaker 1: over a hundred thousand robin traders. That's a marketing army.

440
00:25:01,960 --> 00:25:03,920
Speaker 1: People wear the merch, they root for us like or

441
00:25:03,920 --> 00:25:07,199
Speaker 1: a sports team. So it's all that is what the

442
00:25:07,280 --> 00:25:12,920
Speaker 1: competitive advantages? Huh? Really interesting? So so, given how much

443
00:25:12,960 --> 00:25:16,240
Speaker 1: of what you've been doing for the previous seventeen years

444
00:25:16,840 --> 00:25:21,080
Speaker 1: has been driven by sports and bedding, what went through

445
00:25:21,119 --> 00:25:24,919
Speaker 1: your mind when suddenly in March the NBA cancels the

446
00:25:25,000 --> 00:25:28,760
Speaker 1: season and soon after almost all other sports grind to

447
00:25:28,800 --> 00:25:31,200
Speaker 1: a halt. You you had to stop and say, well,

448
00:25:31,240 --> 00:25:34,199
Speaker 1: I guess we're on vacation for six months, or do

449
00:25:34,240 --> 00:25:37,080
Speaker 1: I need to come up with something new? Yeah, well

450
00:25:37,560 --> 00:25:40,240
Speaker 1: that's the great thing about I guess the way barstool

451
00:25:40,240 --> 00:25:42,480
Speaker 1: has been trained, like I said, born from the Internet,

452
00:25:42,680 --> 00:25:45,679
Speaker 1: vacation certainly didn't cross my mind. It's okay, we got

453
00:25:45,760 --> 00:25:48,800
Speaker 1: to reinvent ourselves or do something different. So I was

454
00:25:49,040 --> 00:25:53,240
Speaker 1: never worried that once sports went away for a little

455
00:25:53,240 --> 00:25:56,240
Speaker 1: bit somehow our content would suffer. You know, the day

456
00:25:56,280 --> 00:25:59,520
Speaker 1: trading thing which I started doing when sports went away

457
00:25:59,520 --> 00:26:01,640
Speaker 1: because like I got past the time somehow the stock

458
00:26:01,680 --> 00:26:04,280
Speaker 1: markets open and I started dabbling with that. I never

459
00:26:04,320 --> 00:26:07,800
Speaker 1: imagined it would become what it had become. But at

460
00:26:07,800 --> 00:26:11,680
Speaker 1: the same time, and I've said this to Eric, our CEO,

461
00:26:11,840 --> 00:26:15,080
Speaker 1: when when she came in, We've been around for seventeen years.

462
00:26:15,280 --> 00:26:18,639
Speaker 1: We've stayed relevant for seventeen years. I'd say we've stayed

463
00:26:18,800 --> 00:26:22,159
Speaker 1: edgy for seventeen years. We stayed cool for seventeen years.

464
00:26:22,280 --> 00:26:26,159
Speaker 1: That is almost the biggest accomplishment. So many brands like

465
00:26:26,280 --> 00:26:29,119
Speaker 1: ours or in this space, they come and they go.

466
00:26:29,280 --> 00:26:32,400
Speaker 1: I've seen them a million times. It's not an accident

467
00:26:32,640 --> 00:26:36,359
Speaker 1: that we've stayed relevant. We've always reinvented ourselves. We've always

468
00:26:36,400 --> 00:26:40,520
Speaker 1: had something new, so you know, it's just the latest generation.

469
00:26:40,960 --> 00:26:45,879
Speaker 1: And I'd argue that outside the obvious negative impact of

470
00:26:46,400 --> 00:26:50,720
Speaker 1: quarantine and the pandemic for our stool and eyeballs and

471
00:26:50,840 --> 00:26:55,240
Speaker 1: growth and present, it's been a very beneficial time. Like

472
00:26:55,359 --> 00:26:58,800
Speaker 1: we grew in pays, views, we grew, and how how

473
00:26:58,800 --> 00:27:02,800
Speaker 1: many people knew us, our footprint, our impact has never

474
00:27:02,880 --> 00:27:05,520
Speaker 1: been stronger because people have not nothing to do, nothing

475
00:27:05,560 --> 00:27:09,160
Speaker 1: to consume, and we were consistently on the cutting edge

476
00:27:09,200 --> 00:27:12,080
Speaker 1: of putting out content, not just myself, but like Dan

477
00:27:12,160 --> 00:27:15,119
Speaker 1: big Cat, you know he has he never twitched as

478
00:27:15,160 --> 00:27:17,200
Speaker 1: one of our bigger stars, he had never been on Twitch.

479
00:27:17,520 --> 00:27:19,680
Speaker 1: He went on Twitch and played an old college football

480
00:27:19,720 --> 00:27:23,280
Speaker 1: game and create a fictional college football coach. He became

481
00:27:23,320 --> 00:27:26,800
Speaker 1: the number one twitch stream on Twitch within like three weeks,

482
00:27:26,840 --> 00:27:30,920
Speaker 1: which is wild to think about. So we've always been

483
00:27:31,040 --> 00:27:35,320
Speaker 1: very good at being creative, reinventing, and that's because, not

484
00:27:35,359 --> 00:27:37,120
Speaker 1: to say it again, but we're born from the Internet.

485
00:27:37,160 --> 00:27:40,760
Speaker 1: If you're not creative, if you can't create ways, if

486
00:27:40,800 --> 00:27:43,440
Speaker 1: you can't get people that pay attention to what you're doing,

487
00:27:43,800 --> 00:27:46,280
Speaker 1: I probably wouldn't have found you in the first place.

488
00:27:46,680 --> 00:27:50,920
Speaker 1: My special guest today is David Portnoy, better known as

489
00:27:51,000 --> 00:27:56,239
Speaker 1: Davy day Trader. How on earth did the idea of

490
00:27:56,760 --> 00:28:01,400
Speaker 1: videotaping yourself day trading? I'm about because when you think

491
00:28:01,440 --> 00:28:04,480
Speaker 1: about it, it's not the sort of thing that lends

492
00:28:04,520 --> 00:28:08,880
Speaker 1: itself to an obvious visual medium. We'll take us through

493
00:28:08,880 --> 00:28:14,159
Speaker 1: the process as to how that got launched. So, uh,

494
00:28:14,840 --> 00:28:18,800
Speaker 1: once quarantine hit, we needed something to do, something to

495
00:28:18,840 --> 00:28:23,119
Speaker 1: pass the time, and we're searching for answers. So the

496
00:28:23,160 --> 00:28:27,479
Speaker 1: stock market was still going in one day, I decide,

497
00:28:27,520 --> 00:28:29,320
Speaker 1: almost as a mimick, you know what, I'm gonna throw

498
00:28:29,359 --> 00:28:31,280
Speaker 1: in a full suit. I got a little I got

499
00:28:31,320 --> 00:28:34,160
Speaker 1: a little bell, like I was ringing the stock exchange

500
00:28:34,200 --> 00:28:37,520
Speaker 1: to start the day, and made a quick video and

501
00:28:37,640 --> 00:28:40,800
Speaker 1: put it on and and you know it quick like

502
00:28:40,920 --> 00:28:44,440
Speaker 1: people are interested, like, all right, this is interesting, and

503
00:28:45,440 --> 00:28:47,400
Speaker 1: I never know what's gonna work or what people are

504
00:28:47,400 --> 00:28:49,640
Speaker 1: gonna like. Is no different than my pizza reviews that

505
00:28:49,680 --> 00:28:51,800
Speaker 1: I do. Yeah, I I didn't start that with some

506
00:28:51,920 --> 00:28:54,560
Speaker 1: grand plan that's going to become the pre eminent pizza

507
00:28:54,600 --> 00:28:57,880
Speaker 1: review guy in basically the world. But it was obvious

508
00:28:57,920 --> 00:29:00,320
Speaker 1: when I did it people were paying attention. So I

509
00:29:00,360 --> 00:29:02,880
Speaker 1: started with that one video in the suit, ringing the bell,

510
00:29:03,280 --> 00:29:06,400
Speaker 1: and the next day I put a you know, a

511
00:29:06,400 --> 00:29:09,120
Speaker 1: live stream on for a couple of minutes trading stocks

512
00:29:09,160 --> 00:29:13,480
Speaker 1: and and people tuned and then we're fascinated. So the

513
00:29:13,560 --> 00:29:16,080
Speaker 1: next day I did it again, more people paid attention,

514
00:29:16,480 --> 00:29:20,240
Speaker 1: and it was just one of those organic things, and

515
00:29:20,320 --> 00:29:22,800
Speaker 1: it was real, like everything we do. I was trading

516
00:29:22,840 --> 00:29:25,040
Speaker 1: with real money, and I was gonna kill this. The beginning,

517
00:29:25,320 --> 00:29:28,800
Speaker 1: which is always there's that you know it's a train wreck,

518
00:29:28,840 --> 00:29:32,000
Speaker 1: but you can't look away vibe. So it was very

519
00:29:32,000 --> 00:29:37,440
Speaker 1: clear right away that people were interested in watching it,

520
00:29:37,480 --> 00:29:39,680
Speaker 1: and not like you said, I heard you, it's colorful,

521
00:29:39,880 --> 00:29:43,680
Speaker 1: is different. I don't think anybody on Wall Street had

522
00:29:43,720 --> 00:29:47,880
Speaker 1: ever seen somebody like myself basically doing what I was

523
00:29:47,920 --> 00:29:50,040
Speaker 1: doing on Wall three with a large amounts of money

524
00:29:50,080 --> 00:29:53,640
Speaker 1: and being very upfront about it. And you know, it

525
00:29:53,760 --> 00:29:56,640
Speaker 1: was just very different. There isn't much out there like

526
00:29:56,720 --> 00:30:01,480
Speaker 1: what the Davy Day Trader stick was so clicked. It

527
00:30:01,600 --> 00:30:05,240
Speaker 1: certainly did click. I recall back in either March or

528
00:30:05,280 --> 00:30:09,680
Speaker 1: April seeing an early video of yours. You're having a

529
00:30:09,720 --> 00:30:12,400
Speaker 1: meltdown because you're losing a ton of money, and I

530
00:30:12,440 --> 00:30:15,640
Speaker 1: remember saying to myself, either this guy is the greatest

531
00:30:15,680 --> 00:30:19,880
Speaker 1: actor in the world or he is really getting buried

532
00:30:20,000 --> 00:30:24,120
Speaker 1: in trades today. And it was you described it perfectly.

533
00:30:24,160 --> 00:30:27,280
Speaker 1: It was a train wreck. You could not look away,

534
00:30:27,640 --> 00:30:30,840
Speaker 1: right And although there was an early element to it,

535
00:30:31,320 --> 00:30:33,560
Speaker 1: I didn't know what that's doing clearly. And I don't

536
00:30:33,560 --> 00:30:36,920
Speaker 1: even mean with stock like I couldn't figure out the platforms.

537
00:30:37,280 --> 00:30:39,840
Speaker 1: I couldn't figure out necessarily how to trade things. I

538
00:30:39,920 --> 00:30:43,160
Speaker 1: was making mistakes, So those melt onems were very real.

539
00:30:43,840 --> 00:30:47,040
Speaker 1: Because it isn't the easiest thing to use right away.

540
00:30:47,080 --> 00:30:49,480
Speaker 1: You gotta kind of get used to it. So that

541
00:30:49,800 --> 00:30:54,400
Speaker 1: element of it certainly capture people's attention. And then obviously

542
00:30:54,440 --> 00:30:57,240
Speaker 1: I have a very large fan base who know me

543
00:30:57,280 --> 00:30:59,880
Speaker 1: and know my personality and they're interesting to see what's

544
00:31:00,000 --> 00:31:03,760
Speaker 1: going on. So sports was canceled, but it was a

545
00:31:03,840 --> 00:31:07,320
Speaker 1: sport in a different kind of way. Really, it's people

546
00:31:07,320 --> 00:31:10,160
Speaker 1: are paying attention how I do daily. And then obviously

547
00:31:10,640 --> 00:31:13,800
Speaker 1: it started getting picked up within this financial Twitter community.

548
00:31:14,120 --> 00:31:16,360
Speaker 1: Then it started getting picked up by the networks, who

549
00:31:16,480 --> 00:31:18,800
Speaker 1: in my mind, we're kind of making fun of me

550
00:31:19,240 --> 00:31:21,120
Speaker 1: in the beginning, but I don't really care. It's like

551
00:31:21,160 --> 00:31:23,680
Speaker 1: any time we can get publicity, that's good for overall

552
00:31:23,720 --> 00:31:27,719
Speaker 1: of our stool. And then then I started winning, and

553
00:31:27,720 --> 00:31:30,320
Speaker 1: then it kind of changed the tone of it, and

554
00:31:30,400 --> 00:31:32,760
Speaker 1: it's been an interesting ride it it. I mean, I

555
00:31:32,800 --> 00:31:36,440
Speaker 1: think I maybe for the last couple of months, I

556
00:31:36,440 --> 00:31:39,080
Speaker 1: shouldn't say maybe I'm the most talked about person on

557
00:31:39,120 --> 00:31:41,120
Speaker 1: Wall Street. If you told me that was gonna happen

558
00:31:42,080 --> 00:31:43,920
Speaker 1: six months ago, I would have looked at you like

559
00:31:43,960 --> 00:31:47,320
Speaker 1: you had ten heads, what are you talking about? Yeah,

560
00:31:47,440 --> 00:31:50,880
Speaker 1: and you're now up to one. Point eight million Twitter followers.

561
00:31:50,920 --> 00:31:55,880
Speaker 1: When you started live streaming your your day trading, you

562
00:31:55,920 --> 00:32:00,840
Speaker 1: didn't quite have that same size following, did you. Uh,

563
00:32:00,840 --> 00:32:02,640
Speaker 1: it was big. I don't know what it is. We

564
00:32:02,800 --> 00:32:07,200
Speaker 1: definitely have far more people now. The live stream always is,

565
00:32:07,240 --> 00:32:10,280
Speaker 1: you know, four to five thousand people concurrently on it

566
00:32:10,360 --> 00:32:12,600
Speaker 1: at once. I don't know what I had. It's definitely

567
00:32:12,680 --> 00:32:15,080
Speaker 1: picked up. It's a new demo, it's a new audience.

568
00:32:15,800 --> 00:32:18,440
Speaker 1: But you know, Twitter actually is super hard to grow

569
00:32:19,000 --> 00:32:23,600
Speaker 1: your your user base, so it hasn't grown dramatically. Huh.

570
00:32:23,920 --> 00:32:27,400
Speaker 1: And how well thought out is your your training? Do

571
00:32:27,480 --> 00:32:29,080
Speaker 1: you go in with a plan, do you have a

572
00:32:29,080 --> 00:32:32,920
Speaker 1: strategy or do you just looking at whatever is moving

573
00:32:32,960 --> 00:32:35,720
Speaker 1: and catches your eye. It's all over the map, it

574
00:32:35,840 --> 00:32:38,200
Speaker 1: really is. There is strategy to it. I'm always looking

575
00:32:38,200 --> 00:32:41,040
Speaker 1: at earnings and what I think I'm using, you know,

576
00:32:41,400 --> 00:32:44,080
Speaker 1: my own logic in regards to what I think maybe

577
00:32:44,200 --> 00:32:47,280
Speaker 1: a good COVID or not COVID stock is and then

578
00:32:47,280 --> 00:32:51,200
Speaker 1: it could be for example, you know, I was on

579
00:32:51,280 --> 00:32:55,600
Speaker 1: vacation for a week and uh, deer. I woke up

580
00:32:55,640 --> 00:32:58,120
Speaker 1: there was a deer outside my window. Like it was

581
00:32:58,200 --> 00:33:00,920
Speaker 1: very beautiful actually, but anyways, I saw the deer, and

582
00:33:00,960 --> 00:33:03,000
Speaker 1: I thought that was a sign, so I bought John Deer.

583
00:33:03,240 --> 00:33:06,920
Speaker 1: So it can really be anything that can be all

584
00:33:06,920 --> 00:33:11,200
Speaker 1: over the minute. How did that trade work out? Very good?

585
00:33:11,360 --> 00:33:13,640
Speaker 1: Their earnings were actually the same day. That's why I

586
00:33:13,640 --> 00:33:15,920
Speaker 1: thought it was a no brainer. So they had great earnings.

587
00:33:17,840 --> 00:33:21,720
Speaker 1: That's very funny. So the question that you kind of raises,

588
00:33:22,440 --> 00:33:24,320
Speaker 1: so let me let me back up and ask this.

589
00:33:24,920 --> 00:33:28,320
Speaker 1: So you've talked about losing six hundred thousand dollars in

590
00:33:28,320 --> 00:33:31,640
Speaker 1: a day. I don't care. Markets are gonna go up eventually,

591
00:33:31,680 --> 00:33:35,000
Speaker 1: I'm gonna make this back. How much does a half

592
00:33:35,000 --> 00:33:38,440
Speaker 1: a million dollar swing affect your psyche or are you

593
00:33:38,520 --> 00:33:42,120
Speaker 1: able to just put it behind you? It really varies.

594
00:33:42,160 --> 00:33:46,960
Speaker 1: So when I started, I was down about two or

595
00:33:47,000 --> 00:33:51,200
Speaker 1: three million instantly, almost shorting stocks, which I don't do

596
00:33:51,280 --> 00:33:54,760
Speaker 1: anymore because I got killed and that's the main thing

597
00:33:54,760 --> 00:33:57,280
Speaker 1: I've gotten killed on. And then I end up being

598
00:33:57,320 --> 00:34:00,600
Speaker 1: up about four millions at my height, I am now

599
00:34:00,800 --> 00:34:03,760
Speaker 1: up probably about one the last couple of weeks of

600
00:34:03,920 --> 00:34:06,640
Speaker 1: knock three legs out. That doesn't bother me at all

601
00:34:06,760 --> 00:34:09,120
Speaker 1: because I'm up. When you're down, it's a lot harder

602
00:34:09,160 --> 00:34:13,520
Speaker 1: to go further down. But I do overall believe if

603
00:34:13,560 --> 00:34:16,640
Speaker 1: you just hold, and you have the time to hold,

604
00:34:17,239 --> 00:34:21,440
Speaker 1: stocks will always go up. Like so unlike sports gambling

605
00:34:21,840 --> 00:34:25,160
Speaker 1: where the clock strikes zero and the game's over and

606
00:34:25,239 --> 00:34:27,880
Speaker 1: you owe, the stock market really doesn't do that. It

607
00:34:27,960 --> 00:34:30,400
Speaker 1: keeps going, so as long as you have time on

608
00:34:30,440 --> 00:34:34,759
Speaker 1: your hands and patience, which I don't. But if you do,

609
00:34:35,200 --> 00:34:37,719
Speaker 1: then you're always going to get it back. So you know,

610
00:34:37,760 --> 00:34:40,439
Speaker 1: I lost a million dollars, I don't know, like last week,

611
00:34:40,520 --> 00:34:42,400
Speaker 1: that didn't bother me at all. I didn't lose like

612
00:34:42,520 --> 00:34:45,239
Speaker 1: an ounce of sleep. That's the game. That's just the game.

613
00:34:46,440 --> 00:34:50,000
Speaker 1: So so let's stick with stocks only go up. That's

614
00:34:50,000 --> 00:34:53,520
Speaker 1: true if you're brought buying broad indo indexes or buying

615
00:34:53,560 --> 00:34:57,560
Speaker 1: broad asset classes. Hey, stocks as a hole always go up.

616
00:34:58,080 --> 00:35:01,080
Speaker 1: But as we've learned over the years, individual stocks can

617
00:35:01,120 --> 00:35:04,080
Speaker 1: go to zero. How do you balance that when you're

618
00:35:04,120 --> 00:35:08,520
Speaker 1: trying to decide what to trade. Yeah, and that's a

619
00:35:08,520 --> 00:35:12,520
Speaker 1: fair point. I think there's a misconception about the stocks

620
00:35:12,560 --> 00:35:16,160
Speaker 1: I'm involved in, Like Shopify is not going to zero,

621
00:35:16,200 --> 00:35:18,920
Speaker 1: Amazon's not going to zero. A lot of stocks I'm in,

622
00:35:19,560 --> 00:35:22,719
Speaker 1: I'm not in panic stocks. And if I am a

623
00:35:22,840 --> 00:35:25,759
Speaker 1: Panics are small stocks. If I'm in stocks like that,

624
00:35:26,200 --> 00:35:30,640
Speaker 1: I'm not holding him very long. So those aren't going

625
00:35:30,640 --> 00:35:33,120
Speaker 1: to zero. You could get killed quickly. But a lot

626
00:35:33,160 --> 00:35:35,960
Speaker 1: of my stocks of brand names and I am buying

627
00:35:36,000 --> 00:35:38,239
Speaker 1: and selling them, So those are what I'm referring. If

628
00:35:38,280 --> 00:35:41,120
Speaker 1: you're going with a penny stock or something that's you know,

629
00:35:41,239 --> 00:35:45,200
Speaker 1: under five bucks, clearly there's a risk involved and things

630
00:35:45,239 --> 00:35:48,239
Speaker 1: happen like Nicola the other day. Obviously the guy got

631
00:35:48,280 --> 00:35:51,360
Speaker 1: accused of fraud, the CEO and he steps down and

632
00:35:51,400 --> 00:35:54,640
Speaker 1: that take the bath. So you take that risk. But

633
00:35:54,880 --> 00:35:58,120
Speaker 1: by and large, as long as you're not you know,

634
00:35:58,400 --> 00:36:02,120
Speaker 1: dealing in high volatility. If you buy what was, it

635
00:36:02,200 --> 00:36:06,279
Speaker 1: hurts when they're bankrupt or Kodak and you think those

636
00:36:06,719 --> 00:36:09,319
Speaker 1: those I'm not saying as who knows that those but

637
00:36:09,719 --> 00:36:11,560
Speaker 1: those I'm in and out of the stock that I'm

638
00:36:11,560 --> 00:36:15,160
Speaker 1: saying always go up. Our stocks that truly always go up.

639
00:36:17,239 --> 00:36:21,880
Speaker 1: And you mentioned traditional Wall Street hasn't really been very welcoming.

640
00:36:22,480 --> 00:36:24,719
Speaker 1: Who on the street has reached out to you? Who

641
00:36:24,760 --> 00:36:28,080
Speaker 1: do you have a good relationship, who's got some longevity

642
00:36:28,280 --> 00:36:31,720
Speaker 1: in finance and says, hey, here's a new guy. Journal

643
00:36:31,719 --> 00:36:35,279
Speaker 1: lot of attention. Let's let's get in the hands. Yeah,

644
00:36:35,480 --> 00:36:37,760
Speaker 1: and I should clarify, I think a lot of people

645
00:36:37,760 --> 00:36:40,080
Speaker 1: in Wall Street actually love it. I get so many

646
00:36:40,120 --> 00:36:42,640
Speaker 1: comments that people working on All Street yount refreshing at

647
00:36:42,640 --> 00:36:45,040
Speaker 1: the breast, fresh air. Even though you're making fun of us,

648
00:36:45,120 --> 00:36:48,799
Speaker 1: we find it funny. The clowns on Wall Street and

649
00:36:48,880 --> 00:36:51,560
Speaker 1: Finch with the Fince with guys are really the ones

650
00:36:51,600 --> 00:36:54,879
Speaker 1: that I would say haven't been welcoming because they're used

651
00:36:54,880 --> 00:36:58,120
Speaker 1: car salesman. They're the ones trolling thin give up. They're

652
00:36:58,120 --> 00:37:00,680
Speaker 1: trying to get They need money. They need to convince

653
00:37:01,239 --> 00:37:05,360
Speaker 1: people that they're smarter than you, and you can't invest

654
00:37:05,400 --> 00:37:08,120
Speaker 1: your own money. And the only way to be safe,

655
00:37:08,480 --> 00:37:10,440
Speaker 1: you know, a roth Garber. You're gonna give roths Garber

656
00:37:10,480 --> 00:37:12,920
Speaker 1: your money or else you're gonna lose it all. I mean,

657
00:37:12,960 --> 00:37:17,040
Speaker 1: he's a clown. But the people who are doing this

658
00:37:17,120 --> 00:37:19,520
Speaker 1: the right way, I feel like they've been pretty inviting.

659
00:37:19,840 --> 00:37:23,640
Speaker 1: Jim Kramer has been super super friendly from the beginning

660
00:37:24,280 --> 00:37:26,560
Speaker 1: and welcoming to me, and you know, most of the

661
00:37:26,600 --> 00:37:30,120
Speaker 1: networks are. But the issue is the guys who have

662
00:37:30,160 --> 00:37:32,360
Speaker 1: been saying the stock market is gonna crash for the

663
00:37:32,440 --> 00:37:35,520
Speaker 1: last six months and it hasn't is gonna end in tears,

664
00:37:35,840 --> 00:37:38,319
Speaker 1: and you better give them their money because you don't

665
00:37:38,320 --> 00:37:40,319
Speaker 1: know how to spend your money. Those are the guys

666
00:37:40,320 --> 00:37:42,919
Speaker 1: that don't like me. And I don't know why people

667
00:37:42,960 --> 00:37:44,400
Speaker 1: do that, By the way, I don't know. That's one

668
00:37:44,400 --> 00:37:47,879
Speaker 1: of the things that found interesting is there's a lot

669
00:37:47,960 --> 00:37:51,560
Speaker 1: of these talking heads who are seemingly rooting for the

670
00:37:51,600 --> 00:37:54,640
Speaker 1: stock market to crash, like they want people to lose money.

671
00:37:54,680 --> 00:37:56,640
Speaker 1: I don't understand that. I feel like everyone should be

672
00:37:56,640 --> 00:37:59,040
Speaker 1: on the same seat. The stock market goes up, everyone

673
00:37:59,080 --> 00:38:03,080
Speaker 1: should be happy. If everyone's on the same team. Who's

674
00:38:03,080 --> 00:38:06,040
Speaker 1: going to take the other side of your trades? Well,

675
00:38:06,120 --> 00:38:08,080
Speaker 1: that's something that I'll have to let the scientists and

676
00:38:08,120 --> 00:38:14,000
Speaker 1: the mathematicians find out, right. So so so it's fascinating.

677
00:38:14,040 --> 00:38:16,080
Speaker 1: But by the way, I've been on the street long

678
00:38:16,200 --> 00:38:19,600
Speaker 1: enough that I've seen this debate take place. I saw

679
00:38:19,680 --> 00:38:24,640
Speaker 1: it in oh six oh seven, before the crash. There's

680
00:38:24,680 --> 00:38:29,160
Speaker 1: always a contingency that missed the run up and they're

681
00:38:29,200 --> 00:38:32,040
Speaker 1: waiting for the next big move down so they could

682
00:38:32,080 --> 00:38:35,600
Speaker 1: make up what they lost. And then some people philosophically

683
00:38:36,200 --> 00:38:39,080
Speaker 1: are more intrigued by the idea of a crash. It's

684
00:38:39,120 --> 00:38:42,319
Speaker 1: just their personality. They think markets get she lacked, and

685
00:38:42,960 --> 00:38:46,600
Speaker 1: you know that's when everything becomes more intriguing. I can't

686
00:38:46,600 --> 00:38:49,839
Speaker 1: explain the psychology behind it, but I can tell you

687
00:38:49,960 --> 00:38:52,320
Speaker 1: it's been there for as long as markets have been around.

688
00:38:53,120 --> 00:38:55,360
Speaker 1: I believe it in the in the thing that I

689
00:38:55,560 --> 00:39:00,879
Speaker 1: find well, it's just funny to me is for six

690
00:39:00,920 --> 00:39:04,600
Speaker 1: months I've been told on it. It's gonna end in tears.

691
00:39:04,600 --> 00:39:07,080
Speaker 1: People have been listening to me, are gonna I'm gonna

692
00:39:07,200 --> 00:39:10,000
Speaker 1: ruin them. First of all, I'm only trading my own money,

693
00:39:10,000 --> 00:39:11,799
Speaker 1: and I'm very clear to do what you want. But

694
00:39:11,840 --> 00:39:14,400
Speaker 1: if you were listening to me, you'd be up in

695
00:39:14,600 --> 00:39:17,319
Speaker 1: the second the stock work, it has one bad day

696
00:39:17,400 --> 00:39:20,080
Speaker 1: or two bad days in a week. It's chirping me

697
00:39:20,120 --> 00:39:22,120
Speaker 1: that from the cheap seats, being like, I told you,

698
00:39:22,600 --> 00:39:24,520
Speaker 1: what are you talking about? Still way up? I don't know.

699
00:39:25,120 --> 00:39:27,520
Speaker 1: It went down for a couple of days. That happened,

700
00:39:27,560 --> 00:39:32,279
Speaker 1: so but they go silent. Their crickets star just going up.

701
00:39:32,719 --> 00:39:35,399
Speaker 1: It goes down for a second and they come out

702
00:39:35,400 --> 00:39:38,600
Speaker 1: of the wood nuts and and let me let me

703
00:39:38,600 --> 00:39:41,600
Speaker 1: put some numbers on on that. From the march lows,

704
00:39:41,680 --> 00:39:44,799
Speaker 1: the Nasdaq one hundred is up seventy seven percent, and

705
00:39:44,880 --> 00:39:47,080
Speaker 1: over the past couple of weeks it pulled back almost

706
00:39:47,160 --> 00:39:50,719
Speaker 1: eleven percent. You're still way way ahead if you were

707
00:39:50,840 --> 00:39:54,080
Speaker 1: bullish from the lows forward. There's a wheeze to go

708
00:39:54,200 --> 00:39:59,680
Speaker 1: before the bears can declare victory. Correct. Correct. So I'm up.

709
00:40:00,000 --> 00:40:04,120
Speaker 1: Were all over a million right now, and I was

710
00:40:04,280 --> 00:40:06,880
Speaker 1: before I started my comeback, I was down three, So

711
00:40:07,320 --> 00:40:10,839
Speaker 1: I went down big in the hole right away. How

712
00:40:10,960 --> 00:40:15,000
Speaker 1: big the comeback was, that's how strong the talk market was.

713
00:40:16,200 --> 00:40:19,560
Speaker 1: So so, you've interviewed or been interviewed by a number

714
00:40:19,600 --> 00:40:22,880
Speaker 1: of interesting people. You mentioned Jim Kramer. How did the

715
00:40:23,000 --> 00:40:29,360
Speaker 1: interview with President Trump come about? That's absolutely fascinating to me. Yeah,

716
00:40:29,560 --> 00:40:31,120
Speaker 1: I don't have a good answer to that all I

717
00:40:31,600 --> 00:40:34,359
Speaker 1: it was the same week I was on vacation, and

718
00:40:34,640 --> 00:40:37,080
Speaker 1: I think I did the interview on a Thursday, if

719
00:40:37,080 --> 00:40:40,799
Speaker 1: I recall, and one of my guys worked for me

720
00:40:41,280 --> 00:40:45,120
Speaker 1: called me late Wednesday, like President Trump wants you to

721
00:40:45,200 --> 00:40:49,719
Speaker 1: interview him in the Oval office and or in the

722
00:40:50,040 --> 00:40:54,040
Speaker 1: Rose Garden, excuse me? And I was like, what that was?

723
00:40:54,120 --> 00:40:58,800
Speaker 1: Basically my reaction. It wasn't like a previous conversation or anything,

724
00:40:59,600 --> 00:41:03,080
Speaker 1: because okay, is that serious. I'm not an interviewer. I

725
00:41:03,160 --> 00:41:05,960
Speaker 1: really have never conducted an interview, but it was the

726
00:41:06,000 --> 00:41:08,719
Speaker 1: President of the United States, and to be honest, we

727
00:41:08,760 --> 00:41:10,640
Speaker 1: had to give a thought because he starts a lightning rod.

728
00:41:10,840 --> 00:41:13,759
Speaker 1: There's very few people were like, I'm neutral on him.

729
00:41:13,800 --> 00:41:16,239
Speaker 1: You know, you either despise them or you love them.

730
00:41:16,280 --> 00:41:19,800
Speaker 1: Seems to be the case. And I've always said, almost

731
00:41:19,840 --> 00:41:22,080
Speaker 1: like old Michael Jordan's you know, blue states and red

732
00:41:22,120 --> 00:41:24,839
Speaker 1: states by T shirts, I want everyone to like us.

733
00:41:25,120 --> 00:41:27,080
Speaker 1: So that was the only thing going in. It's like,

734
00:41:27,280 --> 00:41:29,080
Speaker 1: this is half the people are gonna be great. Half

735
00:41:29,160 --> 00:41:31,120
Speaker 1: kind of people. I'm gonna say I'm the devil just

736
00:41:31,160 --> 00:41:34,320
Speaker 1: by associating with him, even though he's the president. Um.

737
00:41:34,719 --> 00:41:38,520
Speaker 1: But it was a no brainers. It is a huge Yeah.

738
00:41:38,600 --> 00:41:41,000
Speaker 1: What what was the experience like showing up at You

739
00:41:41,000 --> 00:41:42,600
Speaker 1: show up at the White House, You get to the

740
00:41:42,600 --> 00:41:45,879
Speaker 1: gate and you say, they asked for I D take

741
00:41:45,960 --> 00:41:47,719
Speaker 1: us through the rest of the day. What what was

742
00:41:47,800 --> 00:41:50,600
Speaker 1: the highlights of that? Well, the whole thing was the

743
00:41:50,680 --> 00:41:55,959
Speaker 1: real So I've never been to the White House, um,

744
00:41:56,239 --> 00:41:58,120
Speaker 1: and it's hard to put it into words. You're walking

745
00:41:58,120 --> 00:42:00,759
Speaker 1: through the giving you the history lessons. They're telling you

746
00:42:00,800 --> 00:42:03,640
Speaker 1: everything I felt like back in high school, getting the

747
00:42:03,840 --> 00:42:07,719
Speaker 1: entire you know description, And then, to be honest, it

748
00:42:07,840 --> 00:42:11,120
Speaker 1: was fairly intimating because and I don't get intimated easily.

749
00:42:11,440 --> 00:42:14,360
Speaker 1: I've been in a lot of situations, but you know,

750
00:42:14,400 --> 00:42:16,920
Speaker 1: they limit how many people can be there, Like Erica,

751
00:42:16,960 --> 00:42:18,840
Speaker 1: our CEO wasn't allowed to be in the rum and

752
00:42:18,880 --> 00:42:22,680
Speaker 1: it's all his people around you in a circle. And

753
00:42:22,719 --> 00:42:25,960
Speaker 1: I hadn't met him before the interview started, and I

754
00:42:26,000 --> 00:42:29,000
Speaker 1: wanted to conduct, you know, a good, interesting, fair interview,

755
00:42:29,520 --> 00:42:33,000
Speaker 1: not overly political, because I'm not, but you know, a

756
00:42:33,120 --> 00:42:35,799
Speaker 1: good interesting thing that people would be interested in. So

757
00:42:36,160 --> 00:42:39,760
Speaker 1: it was a surreal, surreal experience and one that I'll

758
00:42:39,800 --> 00:42:44,799
Speaker 1: really never forget. But yeah, it's hard to believe that

759
00:42:44,840 --> 00:42:47,640
Speaker 1: had happened, to be totally honest, I think a lot

760
00:42:47,680 --> 00:42:49,960
Speaker 1: of a lot of people share that sentiment, and I

761
00:42:50,040 --> 00:42:54,120
Speaker 1: found it to be absolutely fascinating. So I have to

762
00:42:54,160 --> 00:42:58,080
Speaker 1: talk about I'm gonna pivot now from the White House

763
00:42:59,080 --> 00:43:04,520
Speaker 1: to something that everybody uniformly loves, and that's pizza. How

764
00:43:04,600 --> 00:43:09,040
Speaker 1: on earth did one bite with Davy page views come about? What?

765
00:43:09,040 --> 00:43:11,960
Speaker 1: What was the thinking I want to I want to

766
00:43:12,000 --> 00:43:16,000
Speaker 1: review every pizza place in Manhattan. Yeah, so this this

767
00:43:16,280 --> 00:43:19,800
Speaker 1: would probably be if someone wants to describe how barstool

768
00:43:20,000 --> 00:43:23,920
Speaker 1: stumbles upon upon ideas. This the pizza thing, maybe the

769
00:43:24,000 --> 00:43:29,200
Speaker 1: most afropo example. Essentially five years ago, myself and another

770
00:43:29,200 --> 00:43:32,239
Speaker 1: employee got in a debate. If you can only eat

771
00:43:32,239 --> 00:43:34,319
Speaker 1: one food the rest of your life, what would you eat?

772
00:43:34,440 --> 00:43:38,040
Speaker 1: I said pizza? He said burritos, And you had the

773
00:43:38,120 --> 00:43:41,040
Speaker 1: right answer, by the way, I agree, and so we

774
00:43:41,160 --> 00:43:43,760
Speaker 1: actually like, okay, we're gonna do it. So for about

775
00:43:43,760 --> 00:43:47,680
Speaker 1: a month, that's all we ate morning, breakfast, lunch, dinner.

776
00:43:47,680 --> 00:43:50,399
Speaker 1: I just ate pizza, and I'm doing it, and I'm like, well,

777
00:43:50,400 --> 00:43:52,600
Speaker 1: I'm eating so much pizza, I might as well start

778
00:43:52,640 --> 00:43:55,200
Speaker 1: ranking these things. So I tell you, I just say,

779
00:43:55,239 --> 00:43:57,480
Speaker 1: here's my knee jerk, I'll take one bite, here's the store,

780
00:43:58,080 --> 00:44:01,239
Speaker 1: and you know it start catch and on. People were there,

781
00:44:01,280 --> 00:44:03,880
Speaker 1: they were they liked watching these things that we were

782
00:44:03,880 --> 00:44:06,719
Speaker 1: in Boston at the time. And then we're moving to

783
00:44:06,800 --> 00:44:09,880
Speaker 1: New York, like, all right, New York's known for what pizza.

784
00:44:10,000 --> 00:44:12,400
Speaker 1: I said, I'm gonna try every every place. When I

785
00:44:12,440 --> 00:44:14,360
Speaker 1: went there, it was kind of an off handed comment.

786
00:44:14,800 --> 00:44:19,000
Speaker 1: But when we arrived. I did a couple and the

787
00:44:19,040 --> 00:44:23,280
Speaker 1: response is overwhelming. Everybody loves pizza. Everybody like debating about pizza.

788
00:44:23,680 --> 00:44:26,239
Speaker 1: It also the fact that I just happened to walk

789
00:44:26,280 --> 00:44:28,479
Speaker 1: out in the street and do it. There you start

790
00:44:28,600 --> 00:44:31,239
Speaker 1: running into all these characters from New York and it

791
00:44:31,320 --> 00:44:34,839
Speaker 1: became almost more than the pizza. Became a lifestyle thing

792
00:44:34,880 --> 00:44:38,560
Speaker 1: because you got to see the citizens of New York

793
00:44:39,000 --> 00:44:42,040
Speaker 1: and and it just exploded. It is by far the

794
00:44:42,080 --> 00:44:45,560
Speaker 1: most popular thing we do. It's what I am best

795
00:44:45,640 --> 00:44:50,960
Speaker 1: known for. And it spans every age, every demographic, and

796
00:44:51,000 --> 00:44:53,440
Speaker 1: I always see different stats on it. People like it

797
00:44:53,560 --> 00:44:57,600
Speaker 1: got two hundred thousand views on YouTube. Very rarely are

798
00:44:57,640 --> 00:45:01,880
Speaker 1: people adding up. It's on every social media. It's it's

799
00:45:01,920 --> 00:45:07,480
Speaker 1: probably about three million unique views across all the platforms

800
00:45:07,520 --> 00:45:10,920
Speaker 1: every single day. It's insane that that is insane. Not

801
00:45:11,280 --> 00:45:13,960
Speaker 1: some of them that stood out to me. Well, one,

802
00:45:14,040 --> 00:45:17,560
Speaker 1: you have the cast of Tag, including John Hamm and

803
00:45:17,760 --> 00:45:22,040
Speaker 1: Ed Helms, and a girl recognizes you, she doesn't recognize

804
00:45:22,080 --> 00:45:25,120
Speaker 1: anybody else walking down the street, a young woman and

805
00:45:25,200 --> 00:45:28,520
Speaker 1: she starts talking to you. Then she recognizes John Hamm

806
00:45:28,560 --> 00:45:31,480
Speaker 1: and you you bring her into the review and say, okay,

807
00:45:31,520 --> 00:45:33,640
Speaker 1: take a byte. You know the rules, one bite? What's

808
00:45:33,640 --> 00:45:37,480
Speaker 1: the score? Don't forget the decimal point? And then bang,

809
00:45:38,160 --> 00:45:41,200
Speaker 1: suddenly she sees elm ed Helms behind her and has

810
00:45:41,239 --> 00:45:45,160
Speaker 1: a meltdown. What how surreal is this when people New

811
00:45:45,239 --> 00:45:47,600
Speaker 1: York has just come up to you on the street

812
00:45:47,600 --> 00:45:51,480
Speaker 1: while you're doing a pizza. Yeah, I mean, well that

813
00:45:51,560 --> 00:45:53,839
Speaker 1: was an ego boost obviously, the one you just said

814
00:45:53,880 --> 00:45:56,400
Speaker 1: when you're standing with you know, five a lists bars,

815
00:45:56,400 --> 00:46:00,160
Speaker 1: than the girl recognizes you amongst the hall. I'm you it.

816
00:46:00,719 --> 00:46:02,880
Speaker 1: I've always said that this, but it's not just pizza

817
00:46:03,239 --> 00:46:06,000
Speaker 1: to our sales people and when we're selling ad if

818
00:46:06,040 --> 00:46:09,200
Speaker 1: you actually want to see the power of bar Stool Sports,

819
00:46:09,239 --> 00:46:11,480
Speaker 1: just come walk around the streets with me, Like, come

820
00:46:11,520 --> 00:46:13,640
Speaker 1: walk with me, Come walk with a couple of our guys.

821
00:46:14,080 --> 00:46:18,799
Speaker 1: We've become very well known, approachable people, and you know,

822
00:46:18,880 --> 00:46:22,040
Speaker 1: it's always astounding to people don't really get the power

823
00:46:22,080 --> 00:46:24,840
Speaker 1: of our stool when they see us out and about

824
00:46:25,400 --> 00:46:28,480
Speaker 1: just how many people love the brand, come up to it.

825
00:46:28,719 --> 00:46:32,640
Speaker 1: I don't leave my apartment anymore at all. I I

826
00:46:32,760 --> 00:46:35,839
Speaker 1: know the people I just walking in the street are

827
00:46:36,080 --> 00:46:38,680
Speaker 1: gonna come up and say hello. That's just it's been

828
00:46:39,160 --> 00:46:42,680
Speaker 1: a wild ride from working in my parents basement and

829
00:46:42,719 --> 00:46:45,120
Speaker 1: being embarrassed or not embarrassed. But when someone asked me

830
00:46:45,160 --> 00:46:47,279
Speaker 1: what I do know that to have to explain, well,

831
00:46:47,320 --> 00:46:49,200
Speaker 1: it's a little newspaper I hand out, and I know

832
00:46:49,280 --> 00:46:53,919
Speaker 1: you're not gonna know what it is too almost recognition

833
00:46:53,960 --> 00:46:58,120
Speaker 1: now wherever we go. It has truly been an insane

834
00:46:58,840 --> 00:47:02,439
Speaker 1: ride to this point, to say the very least. Have

835
00:47:02,440 --> 00:47:06,080
Speaker 1: have you crossed a thousand pizza reviews? Yet? What number

836
00:47:06,120 --> 00:47:08,160
Speaker 1: are you up to? I think we're probably like seven

837
00:47:08,239 --> 00:47:11,319
Speaker 1: or eight hundred we have, which is, by the way,

838
00:47:11,360 --> 00:47:14,040
Speaker 1: the best way for anybody who wants to find good

839
00:47:14,080 --> 00:47:16,680
Speaker 1: pizza to go to the app for one Bite dot app.

840
00:47:17,200 --> 00:47:20,359
Speaker 1: People can upload their own videos, their own scores. It's

841
00:47:20,560 --> 00:47:22,960
Speaker 1: I use it myself. It is the best way to

842
00:47:23,040 --> 00:47:27,200
Speaker 1: find good pizza near you. So so let's talk about

843
00:47:27,440 --> 00:47:31,760
Speaker 1: not just good pizza, but best pizza. What's your best

844
00:47:32,080 --> 00:47:34,879
Speaker 1: favorite slice in New York? And then I'm gonna ask

845
00:47:34,920 --> 00:47:37,680
Speaker 1: you a twist on that and see if I can

846
00:47:37,880 --> 00:47:40,160
Speaker 1: throw you. So, what's your favorite slice in New York?

847
00:47:40,200 --> 00:47:42,799
Speaker 1: I know the answer, It's one of mine. Say it

848
00:47:42,800 --> 00:47:47,160
Speaker 1: out loud, John's a bleaker that that is such a

849
00:47:47,200 --> 00:47:51,400
Speaker 1: safe bet. It's such fantastic pizza, you simply cannot go

850
00:47:51,520 --> 00:47:56,200
Speaker 1: wrong with that. Tell Us here's the twist question. Tell

851
00:47:56,280 --> 00:47:59,840
Speaker 1: us a slice that you really enjoyed, that was a

852
00:48:00,040 --> 00:48:03,279
Speaker 1: giant surprise that you weren't expecting it to be that good,

853
00:48:03,760 --> 00:48:10,200
Speaker 1: or a very less known pizza place. M you know,

854
00:48:10,400 --> 00:48:15,360
Speaker 1: there's a bunch in Pennsylvania they have like these tomatoes.

855
00:48:15,360 --> 00:48:18,760
Speaker 1: I'm trying tomato pie pizza knocked. Just so many ONNA

856
00:48:18,800 --> 00:48:21,360
Speaker 1: draw a blanket what they are. I know, I love those.

857
00:48:21,680 --> 00:48:26,600
Speaker 1: There's was one of Minnesota. There's so many. I this this.

858
00:48:26,719 --> 00:48:29,040
Speaker 1: I'm gonna draw a blank on the best slice that

859
00:48:29,120 --> 00:48:34,240
Speaker 1: is surprised by. Yeah, I don't know. I that my brain,

860
00:48:34,320 --> 00:48:37,560
Speaker 1: I think is slowly dying. I've done so many the

861
00:48:37,880 --> 00:48:39,600
Speaker 1: I can't think of that. I can't think of the

862
00:48:39,680 --> 00:48:41,880
Speaker 1: surprising one. You know why because most of the time

863
00:48:42,360 --> 00:48:46,000
Speaker 1: I can't be surprised with pizza. The audience and it

864
00:48:46,280 --> 00:48:49,359
Speaker 1: is always correct. So if a lot of people say, hey,

865
00:48:49,440 --> 00:48:51,000
Speaker 1: go to this place, go to this place, go to

866
00:48:51,040 --> 00:48:54,880
Speaker 1: this place, it's gonna be great. It generally is great.

867
00:48:55,160 --> 00:48:58,640
Speaker 1: There is one that I thought was a little now

868
00:48:58,680 --> 00:49:02,120
Speaker 1: that I'm thinking about the drow of like, oh, Little

869
00:49:02,160 --> 00:49:04,480
Speaker 1: Vincent's is an overrated one. I don't meet the crust,

870
00:49:04,640 --> 00:49:08,239
Speaker 1: crush them with the you know, cold cold cheese on it.

871
00:49:08,280 --> 00:49:11,319
Speaker 1: And Huntington's that was one that tongues of people. I know.

872
00:49:11,400 --> 00:49:14,319
Speaker 1: There's one in I want to say, Park Slope that

873
00:49:14,440 --> 00:49:16,959
Speaker 1: I didn't give a great review too, and the people

874
00:49:17,000 --> 00:49:19,120
Speaker 1: are still passionately said they killed me if I've ever

875
00:49:19,160 --> 00:49:22,440
Speaker 1: went back there. Kind of joking, kind of not l

876
00:49:22,600 --> 00:49:25,520
Speaker 1: B LMB. In Brooklyn, I thought it was a little

877
00:49:25,520 --> 00:49:27,719
Speaker 1: bit overrated. I guess my brain is starting to go here.

878
00:49:27,880 --> 00:49:29,840
Speaker 1: I don't like to throw out the overrated ones, but

879
00:49:30,680 --> 00:49:33,400
Speaker 1: I guess I just did. So you'll travel, You'll go

880
00:49:33,440 --> 00:49:36,839
Speaker 1: to the outer Borrows, You'll go to Brooklyn, Queens elsewhere.

881
00:49:37,800 --> 00:49:40,280
Speaker 1: And you did a great I don't want to obsess

882
00:49:40,320 --> 00:49:44,840
Speaker 1: on pizza, but you did a great. Um a review

883
00:49:44,920 --> 00:49:47,040
Speaker 1: with somebody I've had as a guest on the show,

884
00:49:47,160 --> 00:49:52,440
Speaker 1: John Taffer, It's the first time I've seen you genuinely

885
00:49:52,640 --> 00:49:58,360
Speaker 1: surprised by one of your reviewers ability to really explain

886
00:49:58,400 --> 00:50:01,000
Speaker 1: exactly what was going on in a ice of a

887
00:50:01,040 --> 00:50:04,879
Speaker 1: slice of pizza. Yeah. Well, I love John. I mean,

888
00:50:05,320 --> 00:50:10,200
Speaker 1: when we've had a long relationship with him. Uh, years

889
00:50:10,200 --> 00:50:12,399
Speaker 1: and years and years ago, we did like a mock

890
00:50:12,560 --> 00:50:16,040
Speaker 1: bar rescue where he was saving barstool sports. We went in,

891
00:50:16,160 --> 00:50:18,759
Speaker 1: he was screaming at us. It was the first time

892
00:50:18,800 --> 00:50:22,160
Speaker 1: we met him in The relationship is really blossom. He's

893
00:50:22,200 --> 00:50:25,200
Speaker 1: the only guy who has done to review. That's how

894
00:50:26,040 --> 00:50:29,200
Speaker 1: That's how much I actually love him. I've been on

895
00:50:29,280 --> 00:50:33,760
Speaker 1: bar rescue before, so he's he's the best. John Taffer

896
00:50:33,920 --> 00:50:37,239
Speaker 1: is the best. Yeah, he's he's terrific. I know we

897
00:50:37,320 --> 00:50:40,200
Speaker 1: only have you for a limited amount of time, so

898
00:50:40,280 --> 00:50:42,839
Speaker 1: let me jump to our speed round. These are the

899
00:50:42,920 --> 00:50:45,960
Speaker 1: five questions we ask all of our guests, so we

900
00:50:46,000 --> 00:50:48,880
Speaker 1: have a little bit of a baseline to compare everything.

901
00:50:48,920 --> 00:50:52,120
Speaker 1: To tell us what you're streaming these days. Give us

902
00:50:52,160 --> 00:50:56,719
Speaker 1: your favorite Netflix shows, Amazon Prime or whatever podcasts uh

903
00:50:56,800 --> 00:51:01,000
Speaker 1: you're listening to. I was catching up on Schnith Creek

904
00:51:01,040 --> 00:51:04,279
Speaker 1: who won all those awards actually the other night. But

905
00:51:04,440 --> 00:51:07,160
Speaker 1: I don't watch much TV. I watched sports and my

906
00:51:07,239 --> 00:51:09,360
Speaker 1: favorite show which is not on TV right now. I

907
00:51:09,400 --> 00:51:15,960
Speaker 1: love successions. Interesting. Tell us about some of your mentors

908
00:51:16,000 --> 00:51:20,880
Speaker 1: who helped shape your career, whether it's in publishing or

909
00:51:21,280 --> 00:51:26,600
Speaker 1: trading or anything. Nobody I would say, I haven't really

910
00:51:26,600 --> 00:51:30,319
Speaker 1: worked for anybody that my I will say. When I

911
00:51:30,320 --> 00:51:32,960
Speaker 1: did my first deal with Turning Group, they asked who

912
00:51:33,000 --> 00:51:36,320
Speaker 1: were the business inspirations or who did I want to model?

913
00:51:36,360 --> 00:51:38,480
Speaker 1: So I guess this would answer it, and it was

914
00:51:38,560 --> 00:51:42,759
Speaker 1: Jimmy Buffett and Rob Geared, two widely different people, but

915
00:51:43,480 --> 00:51:47,120
Speaker 1: two guys who basically took a small thing that they

916
00:51:47,120 --> 00:51:50,560
Speaker 1: did and turned it into a lifestyle brand. So Jimmy Buffett,

917
00:51:50,719 --> 00:51:53,279
Speaker 1: you know things about beaches and bars, and turned it

918
00:51:53,320 --> 00:51:59,680
Speaker 1: into yeah, exactly, So taking something one concept, Rob Gardick

919
00:51:59,760 --> 00:52:04,560
Speaker 1: was eight boarding and really making an entire lifestyle brand

920
00:52:04,600 --> 00:52:08,120
Speaker 1: that you can sell across every channel. So those that

921
00:52:08,920 --> 00:52:13,800
Speaker 1: those are my two inspirations, I guess or models. Interesting?

922
00:52:13,960 --> 00:52:16,879
Speaker 1: Have you been doing much reading under lockdown? Tell us

923
00:52:16,920 --> 00:52:19,160
Speaker 1: tell us some books or other things you're reading that

924
00:52:19,440 --> 00:52:22,520
Speaker 1: that you can enjoy you now, reading is for suckers.

925
00:52:22,920 --> 00:52:26,239
Speaker 1: I'm one of those guys that believe, you know, TVs

926
00:52:26,440 --> 00:52:29,680
Speaker 1: were invented before books. Books wouldn't exist, So I don't know.

927
00:52:29,840 --> 00:52:33,920
Speaker 1: It's like if you drive around on on square wheels,

928
00:52:33,920 --> 00:52:36,759
Speaker 1: like why why would you do that? That? The circle wheels?

929
00:52:39,160 --> 00:52:42,200
Speaker 1: That's very funny. What sort of advice would you give

930
00:52:42,280 --> 00:52:46,239
Speaker 1: to a recent college grad who was interested in becoming

931
00:52:46,360 --> 00:52:52,120
Speaker 1: an online entrepreneur. I always say, just do it. I've

932
00:52:52,160 --> 00:52:55,320
Speaker 1: met so many people. Uh, and even when I started,

933
00:52:55,320 --> 00:52:57,320
Speaker 1: all my friends like, hey, we're gonna do this idea

934
00:52:57,400 --> 00:53:00,440
Speaker 1: with you and everyone Hendon Hall and had a uses

935
00:53:00,440 --> 00:53:03,760
Speaker 1: in this and that there's nothing like doing it. There's

936
00:53:03,840 --> 00:53:07,399
Speaker 1: nothing better than just getting up and doing. Don't talk

937
00:53:07,440 --> 00:53:10,520
Speaker 1: about it, don't make excuses if you fail. You fail.

938
00:53:10,560 --> 00:53:13,520
Speaker 1: There's a million different reasons why something can't be done.

939
00:53:13,880 --> 00:53:18,280
Speaker 1: But in today's age, especially with the Internet, there there's

940
00:53:18,320 --> 00:53:20,719
Speaker 1: no reason for you not to be doing it. Like

941
00:53:21,000 --> 00:53:23,600
Speaker 1: prove it. Do it. Don't do it for money, do

942
00:53:23,640 --> 00:53:25,960
Speaker 1: it because you just need to do it. That is

943
00:53:26,320 --> 00:53:29,600
Speaker 1: my best advice. Just get out and start. You don't

944
00:53:29,600 --> 00:53:31,360
Speaker 1: know where it will take you. Like I didn't know

945
00:53:31,400 --> 00:53:33,719
Speaker 1: Barcelo would end up being this. You just got to

946
00:53:33,760 --> 00:53:37,680
Speaker 1: get your oars in the water. I like that expression.

947
00:53:37,800 --> 00:53:40,600
Speaker 1: And our final question, what do you know about the

948
00:53:40,640 --> 00:53:45,200
Speaker 1: world of investing stocks and trading today? You wish you

949
00:53:45,280 --> 00:53:49,800
Speaker 1: knew back when you were first getting started, not the

950
00:53:49,880 --> 00:53:53,680
Speaker 1: short stocks and stocks always go up. I'd be probably

951
00:53:53,760 --> 00:53:56,920
Speaker 1: three million dollars richer. Thanks Dave for being so generous

952
00:53:56,920 --> 00:54:00,160
Speaker 1: with your time. We have been speaking with Dave porton Ay.

953
00:54:00,360 --> 00:54:04,240
Speaker 1: He is the founder and l president A of Barstool Sports.

954
00:54:04,600 --> 00:54:07,040
Speaker 1: If you enjoyed this interview, we'll be sure and check

955
00:54:07,080 --> 00:54:11,319
Speaker 1: out any of our prior three hundred such conversations. You

956
00:54:11,360 --> 00:54:15,000
Speaker 1: can find that at iTunes, Spotify, overcast that you're a

957
00:54:15,160 --> 00:54:19,600
Speaker 1: cast wherever final podcasts are found. We love your comments,

958
00:54:19,719 --> 00:54:24,120
Speaker 1: feedback and suggestions right to us at M I B

959
00:54:24,440 --> 00:54:27,480
Speaker 1: podcast at Bloomberg dot net. Be sure and give us

960
00:54:27,520 --> 00:54:31,040
Speaker 1: a review at Apple iTunes. Check out my weekly column

961
00:54:31,080 --> 00:54:34,520
Speaker 1: on Bloomberg dot com slash Opinion. You can sign up

962
00:54:34,520 --> 00:54:37,280
Speaker 1: for our daily reads at Ridholts dot com or follow

963
00:54:37,280 --> 00:54:40,480
Speaker 1: me on Twitter at Rid Halts. I would be remiss

964
00:54:40,560 --> 00:54:43,000
Speaker 1: if I did not thank the crack staff that helps

965
00:54:43,080 --> 00:54:47,120
Speaker 1: us put these conversations together each week. My recording engineer

966
00:54:47,280 --> 00:54:51,560
Speaker 1: is Charlie Vollmer, My producer is Michael Boyle. Atica val

967
00:54:51,600 --> 00:54:55,280
Speaker 1: Bron is our project manager. Our research director is Michael

968
00:54:55,280 --> 00:54:59,200
Speaker 1: bat Nick. I'm Barry Ridhults. You've been listening to Masters

969
00:54:59,200 --> 00:55:01,240
Speaker 1: in Business on Bloomberg Radio.