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Steven Price · Calm Under Fire

• Col. John Boggs: Well, welcome to Calm Under Fire. I'm Colonel John Boggs. I am the president of Fortitude Consulting, and Fortitude Consulting is an executive leadership and coaching firm. And today we have with us Jay Stephen Price. Now, Steven is the founder and president of Price Real Estate, a company that owns, develops, and manages more than five million square feet of industrial manufacturing, distribution, aerospace. Life science and adaptive reuse properties. Beyond business, Stephen has spent decades helping shape the future of Utah and the Mountain West through board leadership, civic engagement, public art initiatives, higher education, health care, and his work supporting the 2034 Olympic and Para-Olympic Winter Games. His career reflects a unique blend of entrepreneurship. community stewardship and long-term vision. Today we're talking about leadership under pressure and what it means to build organizations, communities, and legacies that endure. So Stephen, thank you very much for being here. Welcome. Steven Price: good morning and thank you for all the work you're doing and thank you for your past service. Col. John Boggs: Thank you, thank you very much, Stephen. Stephen, at at what point did building a business become building a legacy? Steven Price: You know, that's that that's a good question. You know, I've I have a fa father who came to this country and didn't want to come to this country. He was a little boy and he came out of war torn Germany in World War Two and ended up with his only surviving brother and his mother, just the three of them, they made it to Panama for six years and they lived on an army base and and had gone from a very comfortable, maybe, maybe somewhat privileged life in Germany to refugees doing things that they never thought they would be doing. And eventually made his way to New York Island through they actually came through Ellis Island and he went to CCNY. His roommate with a scholarship at CCNY was Colin Powell. And he came west during the uranium boom. He had a professor that said gosh if you want to get out of New York, this is my father go out west. There they're you know, they dig in rocks and that's where the all the geology in America is. He came out west, he got stuck for a year, didn't have enough money to go back to school, met my mother and finished at the University of Utah. Quickly after after becoming a mining engineer, he started building a business, a construction business, which turned into a multitude of businesses and companies. And so through him, I saw and people around him, his friends, investors, partners. And all the work that he was doing, entrepreneurs, people building businesses, people building things, but they all happened in buildings. And so he was there at the birth of individual retail and individual car dealerships. He was there at the birth of the Stripping Community Center. He was there at the birth of the regional mall and built all the malls in the Mountain West. All of them. And that company went public in 93 and sold in 2002. And by then, I on my own was developing industrial buildings. So just a simple rectangular box. The box isn't what's important. The story is what's inside the box. Col. John Boggs: Mm-hmm. Steven Price: And what kind of a business is inside the box. So by 2002, we had formed a few of us, now we're much larger, and we build industrial buildings exclusively. So no apartment, no family, no senior housing, no retail. It's almost all industrial. Col. John Boggs: This is this is really interesting because this talks about the responsibility. You're creating things, things are gonna outlast you. So what responsibility comes with creating something like that? Steven Price: You know, that's a really good question, and and it's in in my mind it's not what people think from my perspective. So oftentimes, and I've watched many individuals, there there there are really three kinds of individuals in America. There's that entrepreneur who starts and builds something. And then there's that individual in America, that that leader that that leads something that someone else built, usually private. And then you've got public sector, so publicly traded businesses, that individual who leads a company that that that may be decades to generations old if you go back all the way to who founded that business. Col. John Boggs: Mm-hmm. Steven Price: And we've worked with all of those types of companies and businesses, and we have them in the portfolio. And so as the as as the industrial grew, we followed something, the Governor John Huntsman, who's a unique Utah, and he's a unique UTN for this reason. He has served as an ambassador to three countries, including Russia and China. But but John and I met, we're the same age, through a fraternity at the University of Utah, and he went on his path, and I went on my path, and our paths have interwoven over time. And so I looked at the work that people like he did and his father, John Huntsman Sr., whose passion was cancer, and started our cancer. hospital here at the University of Utah. But I just watched what leaders did. So if you talk about John Huntsman Sr., his legacy would probably be cancer, not the chemical company that he built. And Col. John Boggs: Mm-hmm. Steven Price: so different people build different things. And I think what's what's part of what's missing today in America is that people that do well or the well to do or become wealthy are now super wealthy or now as of yesterday, super super wealthy, Col. John Boggs: yes. Steven Price: oftentimes if in the tech we'll we'll start something else, a family office and they fund they fund something else. But they don't give back to community in the way that my father's generation did. And that can be sponsoring a softball team, or that can be building a park. It can be moving a rail system so a new road can be built, a new freeway on and off ramp, Col. John Boggs: Mm-hmm. Steven Price: or it can be, you know, recruiting like one of our very wealthy individuals did, he's young. Recruiting a hockey team here, a major league hockey team two years ago, Ryan Smith. And so what what I don't see is enough people creating legacy, giving back to the community in the way that they used to. And and in their mind they're giving back. There's no question. I started a family office, I brought this to your community, I I gave back, and that is giving back in a really big way. But there are lots of other ways to give back. Col. John Boggs: Mm-hmm. Well, y you spent decades developing properties and organizations and community initiatives. So how do leaders stay focused on the long term in a world that's really obsessed with the short term? Steven Price: You know, I I I have to I I lean on my mother for this one and and she believes and and they're with us, they're ninety two and ninety-three, that Col. John Boggs: wow. God bless you. Steven Price: that if you are successful or successful enough, and you have resource and and resource isn't just money or capital, it may be connections, relationships, and who you know and other things. That giving back, some consider it a duty, some consider it an obligation, some consider it an opportunity, and and I think they consider it all, that that it is a duty and it is an obligation, and it really is an opportunity. And then and then you ha you have people that would support, for example, the a local 60-year-old symphony in a market or an opera. Then you have people that go out and they see something a need in a community and they literally build it from nothing. Col. John Boggs: Wow. Steven Price: So I hope I answer that in a way that's meaningful to you. Col. John Boggs: Well, that was very meaningful. I mean you've built a lot. and I I just you've built a lot. So y you saw that need? Is that how you got involved like with like with the Special Olympics? Paralympics. Steven Price: Well well no, yes and no. So so part of it was serving on board. So so the the the year that I went into business, two thousand two, a number of things that happened in Utah. We have four time zones in America. I live in the Col. John Boggs: Mm-hmm. Steven Price: largest time zone. I also live in the most depopulated time zone. I also live in a time zone where the first rail, we have two transcontinental rail railroads, was connected in Utah in eighteen sixty-nine. I also live in an area where the NAFTA highway comes through. I-15. I also live in an area where I-80, where you can drive from downtown San Francisco to downtown Hackensack, New Jersey, comes through I-80. So we live at what we call the crossroads of the West. So for example, if you live in Phoenix, you have I-10. You drive from downtown Santa Monica to Houston. But there isn't a north-south interstate. And so over time, by 2002, I started serving on the Utah Sports Commission board. And we were going into host the Olympics. We had hosted a successful Olympics. And so one of the two legacy organizations was the Utah Sports Commission. And over time I joined economic development organizations. And Col. John Boggs: Mm-hmm. Steven Price: I really wanted to be on the executive committee. If I'm not on an executive committee or at that level, I'm just not gonna serve. My time's just too limited. And then I looked at things like the University of Utah. We have a a system of higher education here in Utah. Because we're rural and urban. We're very, very urban. We're we live in one of the most urban dense areas, Salt Lake, Weaver, Davis, Utah County in America. We also live in one of the most rural states in America, 29 counties. seven or eight are flourishing. sixteen, fifteen, sixteen are in economic decline. they may not be in the future because many of those counties have old mines. They've got rare earth. And and there's a lot of rare earth around around the world. But we have mines that have been decommissioned after World War Two. And the key is not getting it out of the ground. It's processing it and then getting it into in into use, into the supply chain. And so Utah is in a very unique situation, not just the future Olympics and not just our sixteen ski resorts. and yes, I we do have the best snow on earth, just not last year. But but we're in a unique position to be able to do things. So for example, Thiacol was here, rocket technology. So all of the space shuttles were those rockets when they came back to Earth were refilled just north of the county I live in. So we have rocket propellant technology. We build rocket propellants here. We only have two copper processing mines and facilities in America. One of those is here, Rio Tinto, Kennicott. And so we we have brought more gold out of the ground, this is a fact, at Kennecop mine than the Comstock, so that Nevada, and all of the the gold that was discovered in 1849 in California combined. And and that mine is still in operation. And And gold is actually trace compared to the copper and other minerals that are in the ground. So on the surface, we're just this little, you know, 3.5 million people living in the West in a state where Mormons or the LDS Church began. But if you dig a little deeper and you don't have to dig very deep, you realize that we have tremendous capabilities here in the state. Those business leaders that can see those opportunities. can build businesses over time. So we have outsiders and and and what I mean by an outsider is it's someone who would usually have a second ho home at Park City or Deer Valley, they'd come to ski. Maybe in the South Col. John Boggs: Uh-huh. Steven Price: we have five national parks. We're the only state that has five national parks. We have about eight million visitors, more during co COVID. And so so when there's a connection to Utah, skiing usually Col. John Boggs: Uh-huh. Steven Price: mountains, fly fishing, hiking, those kinds of things, business Col. John Boggs: Sure. Mm-hmm. Steven Price: leaders from around the country, or sometimes around the world, discover Utah. So Allen and Company has their national convention, and it's big, in Col. John Boggs: Mm-hmm. Steven Price: Sun Valley, Idaho. it's soon to happen. And it's a and and that brings together business and tech leaders from around the world. Well, oftentimes those individuals fly through or land their planes, many have planes, in Salt Lake City. to stay at their home or to hike or for spring break or it's where their kids you know go to a Nike tennis camp or whatever it is. And so Utah is known as a flyover state to the NBA, to the NFL, to Col. John Boggs: Mm-hmm. Steven Price: Major League Baseball. But once you're here, we have tremendous capabilities to do things that others don't. And I'll give you an example of what that means. Everything in the world So people and product move only four ways. Road Col. John Boggs: Mm-hmm. Steven Price: Rail Air C. Road Rail Air C. So we have Road, I-15, I-80. We have air, we have a Delta hub. So I just finished serving on the Delta or on the Salt Lake City Airport board, and we've built the own so so about 60% of us fly in the Big Three, United Delta American. But we Delta just built the only new hub, a hub in this century. Here in Salt Lake City. Col. John Boggs: Hmm. Steven Price: And so I served on that airport board from when we had the old airport. COVID came, we tore it down quickly or quicker and expanded it to where now we have 99 gates and we're still under construction. But we have a hub airport. Well, a hub isn't just to move us, people, passengers. Col. John Boggs: Uh-huh. Steven Price: And the bottom of that plane is not filled with our luggage. Half our luggage is over our head. The bottom Col. John Boggs: Uh-huh. Steven Price: of that plane is filled with freight. And so that's why we have the freight while you can get something tomorrow for a little extra money. And so Col. John Boggs: Yeah. Steven Price: things like medical devices, oftentimes military parts or infrastructure. So critical items fly on planes, or for us being consumers, the Amazon effect, fly in in the cargo hold of planes. So you have road here, I-15, I-80. You have a you have a Delta hub and and and Delta is a very, very, very capable airline for a lot of different reasons. And you have rail connected promontory in 1869. So and and so we have three of the port. What we don't have is a ocean connection here. But we're eleven hours from the the from the ports of Long Beach and LA, two sister ports, different port authorities. And with that traffic weather congestion, you can drive within 10 or 11 hours from those ports to Salt Lake City. You can drive from Kent, Washington, the port in Seattle, to Salt Lake City in less than 10 or 11 hours. You can drive to Tijuana. It's based on traffic, weather and congestion, 10 or 11 hours. You can drive to the Canadian border, 10 or 11 hours. You can drive to Denver, 8 or 9 hours. Phoenix, 8 or 9 hours. And so it puts Utah in a unique place to be able to build a business. It also puts us in a unique place in America and a unique place in the world because of what's happening here. And Col. John Boggs: Yes, it does. Mm-hmm. Steven Price: so through business groups I've been involved with, like YPO, Young Presidents Organization, Col. John Boggs: Mm-hmm. Mm-hmm. Steven Price: or serving as a trustee at the University of Utah for twelve years, pretty long you get eight. I got extra time or on the healthcare board or on the sports commission board or other the airport board other Col. John Boggs: Yeah. Steven Price: things I've done it expanded or showed me what was happening in a different way in America what was happening in a different way in the world and when you live in a little state but you have a international lens you can see things differently and you can see more. Col. John Boggs: This is this is great. So Can you talk to me about thinking in s thinking in decades rather than quarters? Because I mean, you talk to a businessman is this quarter, next quarter, next quarter, where where are we? We're looking at the projections. But it sounds to me like you're talking about decades, you're talking about the long view. Steven Price: Well, i I would explain that in in in a little bit different way. So if you're a president of a university, you're thinking about next autumn. How many students? So how many do I graduate this spring, undergraduate and graduate? and next autumn, how big's my med class? I'm at my med because we have medical school here, how big's my dental class? We have a dental school. Am I going to admit 34,000 students or 38,000 students? And then how am I going to house them? So they're thinking about they're thinking annually, but in a different way. if you move within with within the university, they're thinking about grants. So they're writing NAH grants and and a multitude of other grants. And we do have DARPA here, and DARPA is operating on the University of Utah campus. and so they're thinking about grants, and those come in cycles. When you talk about quarters, those are usually public businesses or the public business thinking that's made it to the private sector. So non-publicly traded businesses. And and and I tend to look at things a little bit differently. And what that means is I love sports, but I don't go to a lot of sporting events. Because it's kind of this game that begins and then it ends in a couple of hours and who won and who lost. What did the prediction markets say and what a all all the online betting say? I don't think like that. I think in in my mind I think, well, what is the economic impact of the Utah Jazz being in Utah? And what and what that means is this. People will travel the world and I just heard a story yesterday, and we're still known for Stockton to Malone. Well, they haven't played here since the early two thousands. They still talk about the playoff games against the Bulls and Michael Jordan and his team in the nineties, the late nineties. Col. John Boggs: Mm-hmm. Steven Price: And so a sports franchise, there are only thirty-two in Utah. On the surface, you'd say, Gosh, we're a small market, you know, they're not doing very well right now. It's hard to recruit top players to Utah. So th they don't all wanna live here. most don't ski, most don't understand the mountains. A fly rod would would be as foreign to them as the first time they saw a golf club. And many end end up playing golf, many of our athletes. And so it's really hard to recruit here, but being known around the world, we're known for the Utah Jazz and Col. John Boggs: Mm-hmm. Steven Price: and that winning combination. And we're known for the Mormon Church, the LDS Church, which was probably a Fortune five company. Not the the the the population side, but the business side with their holdings around the world, and they're here. Col. John Boggs: Mm-hmm. Steven Price: in in Utah. And so the jazz mean more than just sixteen thousand eight hundred, I think that's the size of the arena, of us going to a game every night. Col. John Boggs: Mm-hmm. Steven Price: It markets us around the world. Hockey's growing. It's not the same, but but our team's doing really well, a new team with a new owner and what he's built and how he's decided to build it. And so those things have economic impact around the world. Now if you're in the military, you think much differently So an F-35 Joint Fighter is serviced and flown out of Hill Air Force Base. So Col. John Boggs: Mm-hmm. Steven Price: some of the different suppliers to that airframe and other components of the defense industry are in buildings we own. But they don't come as far south as Salt Lake County. They're in Weber and Davis County. Col. John Boggs: Mm-hmm. Steven Price: If you go to Utah County, just south of us, they're very, very, very entrepreneurial. if you come to Utah, Ca Salt Lake County, we're more traditional, meaning that the auto parts and paint and hospital supplies come out of this area. But our trade area, and John, the way I'd look at this, is really about forty-five million people. So it's within that 11-hour dock to dock, so semi-to-semide drive time. And Col. John Boggs: Mm-hmm. Steven Price: and we're moving to a new economy. And what that means is we've come out of the economy where you the the go-to economy. You used to go to a grocery store, you used to go to a mall, you used to have back to school. So you'd go to back to school, back to school shopping. You would go out, Father's Day's coming up this weekend, I believe, and you'd go out and look for a Father's Day gift. Well now Amazon, if you have Prime, it means it's in their warehouse and you get it in two days or less. It Col. John Boggs: Mm-hmm. Steven Price: means they have possession. If it's Amazon now, you get it in two hours or less. And ninety percent of America live within ten miles or less of a Walmart. And so Walmart is starting their home delivery service to compete with Amazon. Two very, very, very different models. Because the Amazon model is different than the Walmart model. And so Walmart doesn't have to build warehouse across America. They've got retail stores. You just Col. John Boggs: Uh-huh. Steven Price: have to get from that store to home. Amazon does two things. They build their own warehouses they own, and then they build warehouses that they lease from developers like us for shorter periods of time. And part of that is because their business is changing quickly. You know, tech is moving as you described at this level and business leaders are developing at this level. Well tech is moving so quickly. So the last seven or eight leases and and the reason I can't say eight yet, that we have signed all our data center leases. There's someone who is supplying something to a data center. And these data centers are being these are US manufacturing companies. I was in a a plant two days ago and it was all unionized and they used stainless steel pipe cooling systems for data centers, but some of the component parts were coming out of India. They were not coming out of China. And so six months ago they were coming out of China. Now they're coming out of India and they're finding the quality they want in India and the shipping times they want because of air coming out of India. And then union trades are welding together these systems, which will fit on the back of a flatbed truck nine feet wide, and go to these data centers. Well, they were working on one in Ohio. And I said, How many more data centers are you working on? And they said, Well, we're bidding on over 20. We're b we're betting on more data centers now in America than China has the ability to build. And China can build. Col. John Boggs: Mm-hmm. Mm-hmm. Steven Price: And and so so we have new businesses that and I've gone through different I've been in business long enough since the early nineties to see different cycles. I went through the scrapbooking era and then the iPhone comes. I've gone through the region mall era and then Amazon comes and it wasn't Amazon, it was the App Store and then online payment system stripe. And so America and you're right, technology changes really, really quickly. And and it's either a gold rush or an arms race. And a gold rush meaning who's going to capture AI? Is it going to be the US or is it going to be China? A gold rush. Or is or are we moving into a new era that we haven't seen before, where most of the AI is going to be written in English or Mandarin? Because that's the way it's going to be written. And so the tenants that we're seeing now. Have pivoted their business from, let's say HBC, heating and air conditioning, or advanced manufacturing composites or something else. Col. John Boggs: Mm-hmm. Steven Price: Almost all did data center production. And so you need power and you need water and you need a l large workforce to build these, and then not a lot to maintain them, not a lot of people workforce. But the technology changes so quickly, you're constantly changing things inside these data centers. And it's Col. John Boggs: Mm-hmm. Steven Price: real. Because because I'm signing leases with tenants that that are working within the data center world and it's and it's not just the data center, it's what goes into the data center. And th these are very complex US companies, very Col. John Boggs: Mm-hmm. Steven Price: specialized. Col. John Boggs: Wow. Well Stephen, i this is you just talk through it's it's like this is the future, the future is now and but this is it. How do leadership how does leadership keep up? Steven Price: you know, that's a really good question. Before COVID, individuals would go to a conference when when Home Depot first started a retired because their back or knees had worn out, tile layer or electrician or someone Who could lay concrete and had had laid concrete for 30 years would would would have a second career at a wall at a home home depot or home base or Ernst. Well, once YouTube was born, you can figure out how to do your own bathroom, how to tile your own bathroom. So that skilled, trained journeyman, whatever they were, was displaced by YouTube, primarily, Col. John Boggs: Mm-hmm. Steven Price: by technology. And so a leader today has to pay attention in like your podcast in lots of different ways to lots of different things. Conventions are inefficient and they're ineffective. They're great for echo short term economic development. You fly in, you have a hotel, you've got lodging, you have dinners, you're renting out convention centers, they're expensive to set up, but but they're cumbersome. And somewhat archaic. And so a leader today needs to be hyper attentive to to what's happening, w where where we're going now and where we think we're going to go in the future. So so America is probably being reshaped. NATO may be being reshaped. And so as as things change really quickly, you look at what is. So for example, I did research on national labs after I first discovered national labs. Col. John Boggs: Mm-hmm. Steven Price: So here are all the national labs that we have in America. And so we never defund a national lab. And national labs are sometimes run by universities, sometimes independent contractors. But within those national labs, we do some of the most advanced research in the world. And then they have a mandate, it's what people like Zeke Williams do, to transfer that to the private sector. Well, universities do the next level down or next levels down of research. And it may be medicine, it may be engineering, it may be lots of different fields. And the key is to try to get either a national lab or or university, advanced university research into the private sector. So tech transfer. Col. John Boggs: Mm-hmm. Steven Price: If leaders can look at how do we tech transfer the research that that's being funded by the federal government and others into the private sector and then amplify or build that. Quickly. The the question is, where do you find it? And Col. John Boggs: Uh-huh. Steven Price: so our newspapers are changing and changing rapidly. There is a lot of noise online. you don't want to spend a lot of time on TikTok or Instagram. the the algorithms will be written to find what you want. And so the challenges are greater today to stay on top of what is happening, but they're also easier today than they've ever been. And and that's that's not an oxymoron. It's true. Col. John Boggs: Mm-hmm. Steven Price: That it's it's easier today to understand what's happening, not where we're going, but what's happening. But it's also harder because because is it is it science, is it technology? Where do the liberal arts fit in? as the world order is being re redrawn with the current administration and other things. As China advances, as India slowly advances, you know, who are the winners and losers? The EU may flatline, Africa may lose except for rare earth minerals and a few other things. Col. John Boggs: Mm-hmm. Steven Price: America probably flourishes if we can keep us united, like like the flag behind you united. Col. John Boggs: Mm-hmm. Steven Price: And and and And we need to look at a very, very, very capable country, China, that that now can produce with with great quality, for example, a aircraft part that's as reliable as a US part. That's that much has changed. Col. John Boggs: Steven, what has your career taught you about leadership under pressure? Steven Price: You know, I I work with my kids and and and they're all in different spots and different places, that the first thing you I think you need to do is get involved at the political level. And what that means is serve on your neighborhood council. And it's hard when you have young kids with their demands, and especially if they're playing sports. Or if they're, you know, if if they're playing an instrument you want to go to Juilliard. and so get involved in the political process and that that that's relatively easy to do through a neighborhood council, a community council, work your way onto a planning commission or a city council. It does take time, but you see the process. We do have elected officials that in most states are highly available to the business community. So on the House side and the Senate side, just like federally, they're also here locally. And it's relatively easy to develop relationships with them and and they're assigned if they're in leadership. So for example here in water, I can tell you who in the House and Senate watch over water and who watches over power and who watches over agriculture and who watches over rare earths and who watches over higher education and who watches over our public education. And so as as you begin this generation to understand the political process, you y you f you you you begin to understand how how how things work, but you also may over time gain influence. And you can influence not for your own personal gain or business, but influence for the good of humanity and society, goodness. So I think that's really, really important. Also there are a lot of ways to volunteer. We also waste a lot of ways to volunteer. So Col. John Boggs: Mm-hmm. Steven Price: our our our homeless infrastructure across America is is doesn't work very well. Our homeless service providers generally don't have very good outcomes, so results. And it's a system that that kind of feeds itself. And if what we can see here in Utah, we can see in other states, it's a broken system. And probably the private sector has to step in and help figure out how we help our unhoused community. it's it's something that we need to do. we're in a drug war and and I think it's a drug war. The cartels are super organized in in Mexico and South America and they're moving from something you grow to something you manufacture. And and so that's why we're seeing different drugs on the streets. So we're not seeing opiates from heroin and we're not seeing cannabis and I think 37 states cannabis is now legal. So we're moving into a synthetic era of drugs. And the cartels are very sophisticated and they use the same systems that we do to move something in America. Road rail AirC drugs. And so we're seeing not just an unhoused population, but but a certain percent of the US population that are now addicted to a drug that is so sophisticated with so much research that they can't get off it. And so and so once you start to understand the the challenges in America, then you can come up with the private sector solutions for Col. John Boggs: Mm-hmm. Steven Price: how to help humanity. Col. John Boggs: once you understand, wonderful. Stephen, when when leaders think about a legacy, leaving something behind, what should matter what should matter most? Steven Price: You know, that's a really good question. There are different kinds of legacy. So if you are a politician, your legacy are the young people around you that you help promote that helped you get to where you are, to where they serve aspirationally at a cabinet level post and maybe run for office. So so that's a legacy. So in politics it's it's the young people around you. That helped you get to where you are and serve and work for you. in the private sector, and this is really interesting. I've watched some people build remarkable businesses with remarkable net worth and remarkable cash flow, and they haven't given away a dollar. You can't get them to sponsor a high school softball team or heart or football team. And there are others that build stadiums or provide the seed capital to name a stadium. And so people look at legacy in different ways. For for many people it's their family, it's their kids, it's their grandkids, it's the next generation. For some it's it's it's it's naming a building at a university or a college. For some it is building something, maybe a passion they have. So for example, Larry Miller, who who passed away in 2009 and and was one of our early billionaires here in Utah, never really had a good softball field to play on, but was a s was was very dedicated to the sport. So h so helped build the softball industry here in Utah. mountain biking is coming and mountain biking is not going away. There are people that will take on a mountain and build a ma a trail system throughout the mountain where you can walk. run, hike, ride. And that's a legacy. And sometimes they'll name a trail after their mother or themselves or their business. And sometimes they'll name it after a U two song or a Green Day song. Or they let the mayor or the city council name that trail. Or maybe a mountain range or a a a ridge will name that trail. And so legacies are really individual thing. And There's some people that work so hard, it's like getting on a treadmill and they don't control the speed. And and by the time they could think of legacy, they're either too old or they've set up their estates or sold their businesses or whatever that is. Others start thinking along the way, and sometimes they're very young, I mean twenties and thirties, that gosh, I could do this or this is something I should get involved with. And it almost always comes from public service. that that most of the legacy projects that I see come from people serving on a board, public service, and and they see a need or they see something that isn't working or they see a failure and then they get involved. Col. John Boggs: Wonderful. Thanks, Steve. Thank you. Steve, tell me, for for leaders who are interested in building and work and building organizations or communities and and legacies that could stand the test of time, can they reach out to you? How how do they reach out? How do they learn more about what you're doing? How do they get involved? Or how do they reach you? Steven Price: Well, first of all, my business is a little different. So most of us are women and that's unusual for a developer. And Col. John Boggs: Yeah. Steven Price: to make decisions, they don't answer phones. That's different. And so I w I built the business without a website and I had very smart people around me convince me, gosh Steve, you better do a website. We just redid it. that that's an easier way. email is an easier way, but I have four people that read my email at all times. So I don't miss something. And so, for example, yesterday I had a day filled with many meetings. our Olympics are still seven and a half years away, 2034. We're hosting the Winter Games here for the second time. But that was a day where I was in concentrated meetings, and we don't even take phones into those meetings. But but I can't miss something. Col. John Boggs: Mm-hmm. Steven Price: And so and so text and email is a really good way, or websites are really good way. And then I have a team around us, around me. Col. John Boggs: Mm-hmm. Steven Price: You know, Lindsay, Angela, Katie, Olivia. I just there's a team so that so that I can stay connected and in contact and I don't miss them. Col. John Boggs: Very good. Excellent. Excellent. Got it. So so then the best way is probably through LinkedIn to reach out to you on LinkedIn. Steven Price: yes, yes, I'm on LinkedIn and I'm I'm not as active as I should be, but someone watches that daily for invites and and communication and messages and she helps me stay on top of it. And then Col. John Boggs: Wonderful. Got it. Steven Price: Friday she summarizes everything that's happened. With one of our tenants in the community or something that has a tentacle that touches us. And I'll give you an example of what that means. So if Northrop Grumman receives a new $200 million contract in Utah, I Col. John Boggs: Mm-hmm. Steven Price: know about it by Friday. If one of our tenants is selling to venture capital, I know about it by Friday. If one of our tenants has announced a new technology that they're developing for ANRAL, I know about it by Friday. If the University of Utah has developed a new protocol, so the University of Utah our Huntsman Cancer Center is building their own data center. And they're not buying time on someone else's data center. So AWS or Azure or one of the data centers, Googles, they're building their own. And so we're moving into a modern era of medicine. And what that means is in the press in the past, if you're a male or female, you'd go into your specialist. Whatever it is. Col. John Boggs: Mm-hmm. Steven Price: And now they're building models and algorithms and AI agents and pouring in massive amounts of data that have been collected through their system. And then in in in Utah, we have something called population health. And the LDS Church turned over their records, their extensive record keepers going back over a hundred years on people's health. Col. John Boggs: Mm-hmm. Steven Price: and what they lived and died from and and the health challenges they had and what runs in a family, the mother's side, the father's side, maybe both sides. And they're feeding this they will feed this into a new data center so that we have better health care outcomes for us. So better results. Col. John Boggs: Hmm. Got it. Wow. Steven Price: And and and so by Friday I know there's a new data center. I will know everything that's happening within reason in our community through social media, LinkedIn, the Col. John Boggs: Mm-hmm. Steven Price: the few newspapers we have left, press releases, public announcements. And so I try to stay on top of those and it's the last thing I read on Friday. And then I'm a I'm a reading and podcast advocate. or junkie. And I always begin with Goldman Exchanges with Goldman Sachs. I think it's one one of the best podcasts there is for business because of who they interview inside Goldman Sachs or outside. Col. John Boggs: Mm-hmm. Steven Price: And I never miss that on a Sunday. I it's just where I begin. And then I work my way depending on on that home day, because oftentimes I work or or I'm obligated six days a week and nights. So many of my nights are scheduled like a politician, but I'm not elected official. I went to an event last night. I'll go to an event tomorrow night. And and and and then I think about relationships. And I think this is really important. So you mentioned that gap when we were beginning between technologies here and leaders are here. Well, I believe the leader that's here is a much better leader if they have a first ser, first madam, or first partner that Col. John Boggs: Mm-hmm. Steven Price: is that is not just supportive, meaning I'll get the wash done at home, or dinner will be ready when you get home, or I I've got this covered for you, or or I unpacked your suitcase last night so you can pack and leave on this trip today. It's it's that first sir, first madam on the elected side, that first partner on on the business side, that that is as into the business or the work of politic or the work of community as the individual that's doing it that's doing it. And once you have that combination, that gap that you were talking about is closed. Col. John Boggs: Mm-hmm. Steven Price: It's closed. And so because you've got someone not just that supports you, but is there with you. And they see things and they hear things and and their EQ, the emotional quotient and things really elevate that that leader. So I don't know, I I I know the president of our university, his wife is with him most it's not the bargain she made. He wa he was elected, but But she rose to the occasion as she is at most things. I can tell you with our two state senators and five r House members, whose first sirs, first madams, and we don't have partners here at the state level, are are there and sometimes know as much as the elected official. And so that tells me that they're listening, they're paying attention, that the couple is talking. that what he's listening to or learning about or thinking about or attending, she is or he is, because you have first sirs as well. And Col. John Boggs: Mm-hmm. Steven Price: I think that leader becomes a much more dynamic leader if their partner is all in. Col. John Boggs: Steven, this is gems of these are true gems. And I sincerely hope the audience is paying attention. these are true gems. I can't thank you enough for this. This has been absolutely fantastic. Thank you so much. and for everyone that's listening, hey, you just got schooled. I mean, holy smokes, you just got taken to school on leadership and how leaders leave legacy behind, how leaders are connected with the communities. and these are these are musts. These are not good things you should do. These are the you know, when you have time to go do them. No, no, no. If you want to be successful, go do these things. Leave that legacy behind. Get involved with your community. And and and that's just the right thing to go. Hey, remember, leadership is too important to get wrong. So that's why I hope you're listening to this. And thank you all very much. Stephen, thank you very much. I greatly appreciate it. And to everyone else, I'll see you next week out here. Steven Price: John Colonel, thank you for all the work you're do doing. Col. John Boggs: Thank you, sir. Thank you very much. Steven Price: Alright, thank you.