Latest / Earn Your Leisure / Study Hall: How Athletes Owning Media Companies is Shaping Their Stories

Transcript

Study Hall: How Athletes Owning Media Companies is Shaping Their Stories · Earn Your Leisure

• 0:00
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 0:03
  Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador
• 0:07
  Speaker 1: accused of murdering a Texas man of Venezuelan charged with
• 0:11
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 0:15
  Speaker 1: some of the heinous migrant criminals caught because of President
• 0:19
  Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States
• 0:23
  Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border
• 0:28
  Speaker 1: crossings are at the lowest levels ever recorded, and over
• 0:31
  Speaker 1: one hundred thousand illegal aliens have been arrested. If you
• 0:35
  Speaker 1: are here illegally, your next you will be fined nearly
• 0:39
  Speaker 1: one thousand dollars a day, imprisoned, and deported. You will
• 0:43
  Speaker 1: never return. But if you register using our CBP home
• 0:46
  Speaker 1: app and leave now, you could be allowed to return legally.
• 0:50
  Speaker 1: Do what's right. Leave now. Under President Trump, America's laws,
• 0:55
  Speaker 1: border and families will be protected.
• 0:57
  Speaker 2: Sponsored by the United States Department of Homeland Security.
• 1:00
  Speaker 3: Okay, let's talk about the boardroom. Right, boardroom. It's a
• 1:03
  Speaker 3: company that you guys started, you and KD and it's
• 1:06
  Speaker 3: a media company built around athletes.
• 1:09
  Speaker 2: Right is that correct?
• 1:10
  Speaker 4: Built around the business of sports and you know, I
• 1:15
  Speaker 4: think some parts of entertainment as well.
• 1:17
  Speaker 3: Okay, talking about starting that, why that was an idea
• 1:22
  Speaker 3: that you wanted to start and getting that up and runner.
• 1:25
  Speaker 2: Yeah.
• 1:26
  Speaker 4: Well so when I kept when I ultimately started my
• 1:29
  Speaker 4: own business with Kevin, it was investing, and it was
• 1:32
  Speaker 4: managing his business and managing his Nike business and helping
• 1:35
  Speaker 4: him build out his foundation and everything that he's doing
• 1:38
  Speaker 4: in PG County. And it was like building that family
• 1:41
  Speaker 4: office at thirty five Ventures. And we had a lot
• 1:43
  Speaker 4: of deal flow and a lot of opportunity, and we were,
• 1:46
  Speaker 4: you know, working on TV and film projects, and what
• 1:49
  Speaker 4: I realized was that I needed a way to storytell
• 1:52
  Speaker 4: around what we were doing.
• 1:53
  Speaker 2: First.
• 1:54
  Speaker 4: That was my first thing was like, you need we're
• 1:57
  Speaker 4: in a climate now through social media that had become
• 2:00
  Speaker 4: so present in everyone's life at the time, and the
• 2:03
  Speaker 4: need to be able to storytell and position what you
• 2:06
  Speaker 4: were doing in your business as much as just doing it.
• 2:09
  Speaker 2: This is twenty sixteen, Yeah, okay, gotcha.
• 2:12
  Speaker 5: So I'm thinking in terms of KDI thirty five Ventures,
• 2:15
  Speaker 5: this is like he's with the Warriors, or he's about
• 2:18
  Speaker 5: to go to the Warriors now.
• 2:19
  Speaker 4: So when I left when we went when he went
• 2:22
  Speaker 4: to the Warriors. That's around the time we start our
• 2:24
  Speaker 4: own business, and that's sixteen to eighteen was building out
• 2:27
  Speaker 4: that family office of thirty five ventures and establishing that
• 2:31
  Speaker 4: side of Kevin's business. And then in twenty eighteen, what
• 2:33
  Speaker 4: I realized was that we didn't have that vehicle.
• 2:36
  Speaker 2: To really storytell around.
• 2:38
  Speaker 4: And I knew from investing that just starting a media
• 2:41
  Speaker 4: business was going to get laughed at. Like what was
• 2:44
  Speaker 4: the point of us to try to replicate a model
• 2:46
  Speaker 4: that people in Silicon Valley were saying was broken? You know,
• 2:50
  Speaker 4: you weren't just going to invest in somebody because of
• 2:53
  Speaker 4: an audience or eyeballs or metrics. You had to build
• 2:56
  Speaker 4: a business with a purpose and something different. And again,
• 3:02
  Speaker 4: like I'm sure you guys, as you've built your business,
• 3:04
  Speaker 4: knew the same thing, Like I'm not going to do
• 3:07
  Speaker 4: that model that was fifteen years ago, and what you
• 3:09
  Speaker 4: guys have done is a new model that has been created.
• 3:12
  Speaker 4: And for me, I was trying to figure out what
• 3:14
  Speaker 4: it was that made Kevin and I different. If I
• 3:17
  Speaker 4: could figure that out, then I think that would allow
• 3:19
  Speaker 4: us to start something that at least would embody us.
• 3:23
  Speaker 4: And then that would have to be authentic because it's us,
• 3:26
  Speaker 4: and where that went I didn't know, and we were
• 3:29
  Speaker 4: trying to figure it out, and we were talking a
• 3:31
  Speaker 4: bit about it, and investors, I mean founders of companies
• 3:35
  Speaker 4: were really taking to us and our strategy as a
• 3:38
  Speaker 4: strategic investor, like how we worked.
• 3:40
  Speaker 2: They were really taking to our style.
• 3:42
  Speaker 4: And I realized that the more I could do work
• 3:45
  Speaker 4: for these companies, the more we were going to get
• 3:48
  Speaker 4: great deal flow and to really prove ourselves as an investor.
• 3:51
  Speaker 4: So to have that vehicle would also benefit that side
• 3:54
  Speaker 4: of our business. So I still was sitting on it,
• 3:56
  Speaker 4: and then I went to a dinner at Peter Gouber's
• 3:58
  Speaker 4: house or a lunch during NBA All Start weekend. And
• 4:02
  Speaker 4: I don't know if this happens to you guys, maybe
• 4:04
  Speaker 4: during your conference when you had five hundred thousand people in.
• 4:06
  Speaker 5: The estimated where you look at yourself and you're like
• 4:09
  Speaker 5: what the fuck?
• 4:11
  Speaker 2: Like what the fuck?
• 4:12
  Speaker 4: And I'm a fan of this whole world that I
• 4:16
  Speaker 4: that I live in, that I work in.
• 4:18
  Speaker 2: I'm still a fan of all of it on another level.
• 4:21
  Speaker 4: So I'm at Peter Goober's house and pat Riley sitting
• 4:25
  Speaker 4: on one side of me, and Jack Dorsey's on one
• 4:27
  Speaker 4: side of me, and this NBA owner, and I'm like.
• 4:30
  Speaker 2: How the fuck did I get here? This is my
• 4:33
  Speaker 2: life's dream, And it was because of basketball. It's how
• 4:36
  Speaker 2: I saw it.
• 4:36
  Speaker 4: It was because Kevin Durant believed in me and trusted
• 4:39
  Speaker 4: in me and these rooms that he was able to
• 4:42
  Speaker 4: walk into because of how great he was at the
• 4:44
  Speaker 4: game of basketball. That as a kid, if I had
• 4:47
  Speaker 4: known that the sports world looked like that, that there
• 4:49
  Speaker 4: was a way in like that, I would have been
• 4:52
  Speaker 4: like from day one. So I said, let me create
• 4:55
  Speaker 4: a brand that really represents that, that there's a world
• 4:58
  Speaker 4: around sports and entertains where it all makes sense, where
• 5:02
  Speaker 4: people in the boardroom are wearing sweats, where everyone's different colors,
• 5:05
  Speaker 4: different genders, and even though it might not be the
• 5:07
  Speaker 4: richest people in the room, they're making a lot of
• 5:09
  Speaker 4: the decisions and they're deciding what's fresh, and they're influential
• 5:13
  Speaker 4: and they can dictate where money moves. And that that
• 5:16
  Speaker 4: was what I wanted the brand to represent, where all
• 5:19
  Speaker 4: that intersected a bit, and just to become a storyteller
• 5:21
  Speaker 4: and an amplifier of other great people and other great
• 5:24
  Speaker 4: successes and to be a voice a bit of all
• 5:27
  Speaker 4: of the action that was happening in this world and
• 5:30
  Speaker 4: to really sit there and be complimentary. And as the
• 5:33
  Speaker 4: business has grown, that's still at the core of it.
• 5:36
  Speaker 3: So it's immedia. So you see a lot of guys
• 5:38
  Speaker 3: in that arodesque like so Lebron's does spring Hill right
• 5:41
  Speaker 3: with math and then Katie.
• 5:45
  Speaker 6: This episode is brought to you by P and C Bank.
• 5:47
  Speaker 6: A lot of people think podcasts about work are boring,
• 5:50
  Speaker 6: and sure they definitely can be, but understanding a professionals
• 5:54
  Speaker 6: routine shows us how they achieve their success little by little,
• 5:58
  Speaker 6: day after day. It's like banking with P and C Bank.
• 6:02
  Speaker 6: It might seem boring to safe plan and make calculated
• 6:05
  Speaker 6: decisions with your bank, but keeping your money boring is
• 6:08
  Speaker 6: what helps you live or more happily fulfilled life. P
• 6:11
  Speaker 6: and C Bank Brilliantly Boring since eighteen sixty five. Brilliantly
• 6:16
  Speaker 6: Boring since eighteen sixty five is a service mark of
• 6:19
  Speaker 6: the PNC Financial Service Group, Inc. P and C Bank
• 6:23
  Speaker 6: National Association member FDIC.
• 6:28
  Speaker 4: Erners.
• 6:28
  Speaker 2: What's up?
• 6:29
  Speaker 6: You ever walk into a small business and everything just
• 6:31
  Speaker 6: works like the checkout is fast? Their seats are digital,
• 6:35
  Speaker 6: tipping is a breeze, and you're out the door before
• 6:38
  Speaker 6: the line even builds. Odds are they're using Square. We
• 6:42
  Speaker 6: love supporting businesses that run on Square because it just
• 6:45
  Speaker 6: feels seamless. Whether it's a local coffee shop, a vendor
• 6:48
  Speaker 6: at a pop up market, or even one of our
• 6:51
  Speaker 6: merch partners, Square makes it easy for them to take payments,
• 6:54
  Speaker 6: manage inventory, and run their business with confidence, all from
• 6:58
  Speaker 6: one simple system. If you're a business owner or even
• 7:02
  Speaker 6: just thinking about launching something soon, Square is hands down
• 7:05
  Speaker 6: one of the best tools out there to help you start,
• 7:08
  Speaker 6: run and grow. It's not just about payments, it's about
• 7:12
  Speaker 6: giving you time back so you can focus on what
• 7:14
  Speaker 6: matters most ready. To see how Square can transform your business,
• 7:18
  Speaker 6: visit Square dot com backslash, go backslash eyl to learn
• 7:23
  Speaker 6: more that Square dot com backslash, go backslash eyl. Don't wait,
• 7:28
  Speaker 6: don't hesitate. Let's Square handle the back end so you
• 7:31
  Speaker 6: can keep pushing your vision forward.
• 7:35
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 7:39
  Speaker 1: in Massachusetts. An MS thirteen gang member from El Salvador
• 7:43
  Speaker 1: accused of murdering a Texas man of Venezuelan charged with
• 7:47
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 7:51
  Speaker 1: some of the heinous migrant criminals caught because of President
• 7:55
  Speaker 1: Donald J. Trump's leadership. I'm Christine Nohm, the United States
• 7:58
  Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border
• 8:03
  Speaker 1: crossings are at the lowest levels ever recorded, and over
• 8:07
  Speaker 1: one hundred thousand illegal aliens have been arrested. If you
• 8:10
  Speaker 1: were here illegally, your next you will be fine nearly
• 8:14
  Speaker 1: one thousand dollars a day. Imprisoned and deported, you will
• 8:18
  Speaker 1: never return. But if you register using our CBP home
• 8:22
  Speaker 1: app and leave now, you could be allowed to return legally.
• 8:25
  Speaker 1: Do what's right. Leave now. Under President Trump, America's laws,
• 8:30
  Speaker 1: border and families will be protected.
• 8:33
  Speaker 3: Sponsored by the United States Department of Homeland Security works
• 8:35
  Speaker 3: with you and you guys have the boardroom, which is
• 8:37
  Speaker 3: essentially you produce content? Right, do vents produce content? You
• 8:42
  Speaker 3: shaping a narrative as you just kind of said, how
• 8:45
  Speaker 3: important was that? Do you see this new age of
• 8:48
  Speaker 3: athletes kind of because athletes has always always complained about narratives.
• 8:53
  Speaker 3: They never got depicted correctly from reporters. They've never really,
• 8:58
  Speaker 3: you know, liked how people in the news have written
• 9:01
  Speaker 3: about them. There's always been conflicts, but now we're seeing
• 9:04
  Speaker 3: it they actually on the other side of it and
• 9:06
  Speaker 3: controlling the narrative in the media. So talk about the
• 9:08
  Speaker 3: dynamic that you see from the change and athletes complaining
• 9:12
  Speaker 3: about media to them actually taking control and owning a
• 9:15
  Speaker 3: piece of media.
• 9:16
  Speaker 2: Yeah. Man, I think it's a beautiful thing.
• 9:17
  Speaker 4: I think because in sports, as much as any part
• 9:21
  Speaker 4: of society, the media, creating a storyline actually has such
• 9:26
  Speaker 4: real life implications. And in the real world now sadly
• 9:29
  Speaker 4: we're seeing it on the highest level. But this has
• 9:32
  Speaker 4: been happening in sports for a while. And I think
• 9:34
  Speaker 4: during Kevin's free agency, when we set up that whole
• 9:37
  Speaker 4: scene in the Hamptons, it really hit me of like, wait,
• 9:41
  Speaker 4: like you because I remember Kevin said to me once like, man,
• 9:44
  Speaker 4: this shit ain't world news or something, and I'm like, no,
• 9:46
  Speaker 4: I think it is.
• 9:47
  Speaker 2: Bro, I think this is world news. Like this is
• 9:50
  Speaker 2: what it's come to.
• 9:51
  Speaker 4: So, you know, the idea that an athlete not just
• 9:55
  Speaker 4: can create and command their own narrative, but can build
• 9:59
  Speaker 4: and tire ecosystem where entire narrative can be created and
• 10:06
  Speaker 4: an athlete can drive it, but an athlete can find
• 10:08
  Speaker 4: other creators and other athletes and other partners and other
• 10:12
  Speaker 4: stories that they want to tell and that they can control.
• 10:15
  Speaker 4: But I look at it as a bigger thing than that,
• 10:17
  Speaker 4: because I look at these athletes now, it's just some
• 10:22
  Speaker 4: of the most sound young entrepreneurs.
• 10:27
  Speaker 2: Not everybody, but a lot of.
• 10:29
  Speaker 4: Athletes are exposed early to the conversation of business, you know,
• 10:35
  Speaker 4: like my daughter's I had a fourteen year old and
• 10:37
  Speaker 4: a ten year old. If my fourteen year old was
• 10:40
  Speaker 4: an incredible, potentially professional athlete, I'd be talking to her
• 10:45
  Speaker 4: about business and life right now. I'd have to be
• 10:48
  Speaker 4: preparing her for what some of these conversations mean that
• 10:52
  Speaker 4: people are having with her, and what some people want
• 10:54
  Speaker 4: from her when they talk to her. And then all
• 10:57
  Speaker 4: of a sudden, now at fourteen years old, she'd be like,
• 11:00
  Speaker 4: really way ahead of the curve in terms of how
• 11:03
  Speaker 4: to approach business and life and people, because that's not
• 11:05
  Speaker 4: what you're telling your fourteen year old. You're teaching them
• 11:07
  Speaker 4: certain things. But now these kids are seventeen eighteen years old,
• 11:11
  Speaker 4: and they're already thinking about things that I just never
• 11:15
  Speaker 4: thought about at that point. In my life or maybe
• 11:16
  Speaker 4: even understood or had that information. So I think what
• 11:20
  Speaker 4: you're seeing is this incredible trend of athlete moguls, like
• 11:24
  Speaker 4: potential moguls, not all moguls, but that's where their minds
• 11:27
  Speaker 4: are at, and with that they can control the narrative.
• 11:31
  Speaker 5: It's interesting the conversation that you have with your daughter
• 11:34
  Speaker 5: does a trust that's there obviously as a father, the
• 11:37
  Speaker 5: conversation with KD. I'm interested because we see a lot
• 11:40
  Speaker 5: of I mean pretty much everybody has an agent, but
• 11:43
  Speaker 5: really do we see clients create businesses with their agent?
• 11:48
  Speaker 5: So what was that relationship like with for him to say,
• 11:51
  Speaker 5: you know what, this is something I want to do
• 11:53
  Speaker 5: with you. How long did it take for you to
• 11:55
  Speaker 5: build that rapport and to get to the point where
• 11:57
  Speaker 5: it's like, yeah, this is not my agent, this is
• 11:59
  Speaker 5: also my business.
• 12:01
  Speaker 2: Yeah. I guess just.
• 12:04
  Speaker 4: In business time four years two thousand and twelve to
• 12:08
  Speaker 4: around two thousand and fifteen, actually, so three years.
• 12:12
  Speaker 2: But I had met.
• 12:13
  Speaker 4: Kevin his rookie year through La who I was managing
• 12:16
  Speaker 4: at the time, and they're both from the DMV. So
• 12:19
  Speaker 4: I think it was this level of trust in our
• 12:21
  Speaker 4: relationship that we had had but it was also a
• 12:24
  Speaker 4: bit of the climate of you know, of the business,
• 12:27
  Speaker 4: like what Lebron had started to build and create was
• 12:31
  Speaker 4: becoming in a lot of ways like the North Star,
• 12:35
  Speaker 4: you know. And then what I think Kevin and I
• 12:37
  Speaker 4: both grew up around watching like these hip hop labels
• 12:41
  Speaker 4: of the nineties build these economies where bad boy at
• 12:45
  Speaker 4: the center and it's vodka, magazines, parties, records, clothing, and
• 12:50
  Speaker 4: that was something that was really aspirational.
• 12:53
  Speaker 2: I think that was something I mean that.
• 12:55
  Speaker 4: Was at the core of a lot of that era
• 12:58
  Speaker 4: of athletes thinking about their business and then you know,
• 13:02
  Speaker 4: in a lot of ways being able to say, all right,
• 13:04
  Speaker 4: well I can control all of this, Like I sit
• 13:06
  Speaker 4: at the center of this economy and there's ways to
• 13:08
  Speaker 4: build business all around it. And I think then the
• 13:10
  Speaker 4: natural evolution was that because the trust we had as
• 13:13
  Speaker 4: his agent and someone that I knew for a while,
• 13:16
  Speaker 4: there was a confidence that we could do something together.
• 13:19
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 13:23
  Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador
• 13:27
  Speaker 1: accused of murdering a Texas man of Venezuelan charged with
• 13:31
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 13:35
  Speaker 1: some of the heinous migrant criminals caught because of President
• 13:39
  Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States
• 13:42
  Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border
• 13:47
  Speaker 1: crossings are at the lowest levels ever recorded, and over
• 13:51
  Speaker 1: one hundred thousand illegal aliens have been arrested. If you
• 13:54
  Speaker 1: were here illegally, your next you will be fine nearly
• 13:58
  Speaker 1: one thousand dollars a day, prisoned, and deported. You will
• 14:02
  Speaker 1: never return. But if you register using our CBP home
• 14:06
  Speaker 1: app and leave now, you could be allowed to return legally.
• 14:09
  Speaker 1: Do what's right. Leave now. Under President Trump, America's laws,
• 14:14
  Speaker 1: border and families will be protected.
• 14:17
  Speaker 2: Sponsored by the United States Department of Homeland Security.