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Fanatics vs. Gap: Who Wins the Retail Entertainment Race? | Fast Five Shorts · Omni Talk Retail

• 0:00
  Entertainment
• 0:01
  is
• 0:01
  this
• 0:01
  week's
• 0:02
  buzzword
• 0:02
  or
• 0:03
  is
• 0:03
  it
• 0:03
  retailtainment?
• 0:04
  I
• 0:05
  can't
• 0:05
  wait
• 0:05
  to
• 0:05
  get
• 0:05
  producer
• 0:06
  Ella's
• 0:06
  take
• 0:06
  on
• 0:06
  this
• 0:06
  one
• 0:07
  because
• 0:07
  I
• 0:07
  have
• 0:07
  a
• 0:07
  feeling
• 0:07
  I
• 0:07
  know
• 0:07
  where
• 0:08
  she's
• 0:08
  going
• 0:08
  to
• 0:08
  go
• 0:08
  at
• 0:08
  the
• 0:08
  end
• 0:08
  of
• 0:08
  the
• 0:09
  show,
• 0:09
  but
• 0:09
  maybe
• 0:09
  she's
• 0:09
  going
• 0:09
  to
• 0:10
  throw
• 0:10
  me
• 0:10
  for
• 0:10
  a
• 0:10
  loop.
• 0:11
  But
• 0:11
  entertainment
• 0:12
  is
• 0:12
  the
• 0:12
  week's
• 0:12
  buzzword.
• 0:13
  With
• 0:13
  Fanatics
• 0:13
  launching
• 0:14
  Fanatics
• 0:14
  Studio
• 0:14
  and
• 0:15
  Gap
• 0:15
  Inc.
• 0:15
  Creating
• 0:16
  a
• 0:16
  chief
• 0:16
  entertainment
• 0:17
  officer
• 0:17
  role.
• 0:18
  According
• 0:19
  to
• 0:19
  CNBC
• 0:19
  and
• 0:19
  PR
• 0:20
  Newswire,
• 0:20
  Fanatics
• 0:21
  launched
• 0:21
  a
• 0:21
  joint
• 0:22
  venture
• 0:22
  with
• 0:22
  OBB
• 0:23
  Media
• 0:23
  to
• 0:24
  create
• 0:24
  content
• 0:24
  at
• 0:25
  the
• 0:25
  intersection
• 0:25
  of
• 0:25
  sports
• 0:26
  and
• 0:26
  culture
• 0:26
  with
• 0:26
  projects
• 0:27
  including
• 0:27
  ESPN's
• 0:28
  Spies,
• 0:29
  a
• 0:29
  Tom
• 0:29
  Brady
• 0:29
  documentary.
• 0:30
  Oh
• 0:30
  yeah,
• 0:30
  you
• 0:30
  know
• 0:30
  I'm
• 0:31
  going
• 0:31
  to
• 0:31
  love
• 0:31
  that
• 0:31
  one.
• 0:31
  And
• 0:32
  partnerships
• 0:32
  with
• 0:32
  WWE,
• 0:33
  MLB
• 0:34
  and
• 0:34
  the
• 0:34
  2028
• 0:35
  Olympics.
• 0:36
  Gap
• 0:36
  Inc.
• 0:37
  Also
• 0:37
  appointed
• 0:37
  Pam
• 0:38
  Kaufman,
• 0:38
  former
• 0:39
  president
• 0:39
  of
• 0:39
  Paramount's
• 0:40
  international
• 0:41
  markets
• 0:41
  and
• 0:41
  consumer
• 0:42
  Products,
• 0:42
  as
• 0:43
  its
• 0:43
  first
• 0:43
  ever
• 0:43
  chief
• 0:44
  entertainment
• 0:44
  officer
• 0:45
  to
• 0:45
  lead
• 0:45
  its
• 0:46
  quote,
• 0:46
  fashionment
• 0:47
  strategy.
• 0:48
  Gap
• 0:49
  Inc.
• 0:49
  Is
• 0:49
  also
• 0:49
  opening
• 0:50
  a
• 0:50
  Los
• 0:50
  Angeles
• 0:51
  office
• 0:51
  on
• 0:51
  Sunset
• 0:52
  Boulevard
• 0:52
  to
• 0:52
  embed
• 0:53
  itself
• 0:53
  in
• 0:53
  the
• 0:53
  entertainment
• 0:54
  ecosystem,
• 0:55
  building
• 0:55
  on
• 0:55
  partnerships
• 0:56
  like
• 0:56
  Gap's
• 0:56
  Better
• 0:57
  in
• 0:57
  Denim
• 0:57
  campaign
• 0:57
  with
• 0:58
  Cat's
• 0:58
  Eye
• 0:58
  and,
• 0:59
  and
• 0:59
  Old
• 0:59
  Navy's
• 1:00
  Disney
• 1:00
  collaboration
• 1:01
  and
• 1:02
  Crystal
• 1:02
  Ball
• 1:03
  Time.
• 1:03
  If
• 1:03
  you
• 1:03
  look
• 1:03
  into
• 1:04
  the
• 1:04
  future,
• 1:05
  who
• 1:05
  will
• 1:05
  wear
• 1:06
  its
• 1:06
  entertainment
• 1:06
  strategy
• 1:07
  better,
• 1:07
  Fanatics
• 1:08
  or
• 1:08
  Gap?
• 1:10
  I
• 1:10
  think
• 1:10
  this
• 1:10
  is
• 1:11
  a
• 1:11
  really
• 1:11
  easy
• 1:11
  question.
• 1:12
  I
• 1:12
  mean
• 1:12
  it's
• 1:13
  Fanatics,
• 1:13
  it's
• 1:14
  sports,
• 1:14
  this
• 1:15
  is
• 1:15
  America.
• 1:16
  They
• 1:16
  have
• 1:16
  the
• 1:18
  flywheel.
• 1:19
  I
• 1:19
  mean
• 1:19
  sports
• 1:20
  might
• 1:20
  be
• 1:20
  the
• 1:20
  only
• 1:20
  thing
• 1:21
  left
• 1:21
  to
• 1:21
  unite
• 1:22
  us
• 1:22
  as
• 1:23
  a
• 1:23
  people
• 1:23
  anymore.
• 1:24
  So
• 1:24
  I
• 1:24
  think
• 1:24
  that
• 1:25
  Fanatics
• 1:25
  has
• 1:26
  the
• 1:26
  best,
• 1:27
  the
• 1:27
  best
• 1:28
  forecast
• 1:29
  for
• 1:29
  this.
• 1:30
  And
• 1:30
  especially
• 1:31
  if
• 1:31
  you,
• 1:31
  I
• 1:31
  think
• 1:31
  if
• 1:31
  you
• 1:31
  look
• 1:32
  at
• 1:32
  like
• 1:32
  just
• 1:32
  all
• 1:33
  the
• 1:33
  success
• 1:33
  that
• 1:33
  even
• 1:33
  independent
• 1:34
  sports
• 1:35
  creators
• 1:35
  have
• 1:35
  had
• 1:36
  on
• 1:37
  their
• 1:37
  own
• 1:37
  platforms.
• 1:38
  Look
• 1:38
  at
• 1:38
  Barstool
• 1:39
  Sports
• 1:39
  for
• 1:39
  example.
• 1:40
  Like
• 1:40
  it
• 1:40
  doesn't
• 1:41
  take
• 1:41
  much
• 1:41
  to
• 1:41
  be
• 1:41
  successful
• 1:42
  when
• 1:42
  sports
• 1:43
  is
• 1:43
  your
• 1:43
  groundwork,
• 1:44
  is
• 1:44
  the,
• 1:44
  the
• 1:45
  groundwork
• 1:45
  that
• 1:45
  you're
• 1:46
  working
• 1:46
  off
• 1:46
  of.
• 1:46
  So
• 1:48
  yeah,
• 1:48
  I
• 1:48
  think
• 1:48
  that
• 1:49
  that
• 1:49
  goes
• 1:49
  without
• 1:49
  saying.
• 1:50
  I'm
• 1:50
  a
• 1:50
  little
• 1:50
  surprised
• 1:51
  it
• 1:51
  took
• 1:51
  them
• 1:51
  this
• 1:51
  long
• 1:52
  to
• 1:52
  do
• 1:52
  that.
• 1:53
  But,
• 1:53
  but
• 1:54
  I
• 1:54
  have
• 1:54
  no
• 1:55
  doubt
• 1:55
  that
• 1:55
  they
• 1:56
  will
• 1:56
  figure
• 1:56
  out
• 1:56
  how
• 1:57
  to
• 1:57
  create
• 1:58
  just
• 1:58
  as
• 1:58
  quality
• 1:59
  of
• 1:59
  content
• 2:00
  and
• 2:00
  be
• 2:00
  more
• 2:00
  flexible.
• 2:01
  They're
• 2:01
  not
• 2:01
  working
• 2:02
  like
• 2:02
  backward
• 2:02
  like
• 2:03
  ESPN
• 2:03
  is
• 2:03
  or
• 2:04
  some
• 2:04
  of
• 2:04
  the
• 2:04
  other
• 2:04
  sports
• 2:04
  networks
• 2:05
  to
• 2:05
  try
• 2:05
  to
• 2:05
  move
• 2:06
  into
• 2:06
  a
• 2:06
  new
• 2:07
  way
• 2:07
  of
• 2:07
  creating
• 2:08
  entertainment.
• 2:09
  They're
• 2:09
  starting
• 2:09
  with
• 2:09
  a
• 2:10
  clean
• 2:10
  slate
• 2:10
  with
• 2:11
  brand
• 2:11
  new
• 2:11
  consumers
• 2:12
  across
• 2:12
  multiple
• 2:13
  demographics
• 2:14
  because
• 2:14
  of
• 2:14
  all
• 2:14
  the
• 2:14
  other
• 2:15
  sports
• 2:15
  betting
• 2:15
  that
• 2:16
  they
• 2:16
  have
• 2:16
  the,
• 2:16
  you
• 2:17
  know,
• 2:17
  the
• 2:17
  apparel,
• 2:18
  they
• 2:18
  have
• 2:18
  data
• 2:18
  from
• 2:19
  what
• 2:19
  people
• 2:19
  are
• 2:19
  buying.
• 2:20
  Like
• 2:20
  they
• 2:20
  are
• 2:21
  just
• 2:21
  in
• 2:21
  a
• 2:21
  perfect
• 2:22
  position
• 2:22
  to
• 2:23
  make
• 2:23
  this
• 2:23
  work.
• 2:24
  Now
• 2:24
  the
• 2:25
  only
• 2:25
  thing
• 2:25
  I
• 2:25
  will
• 2:25
  say,
• 2:26
  Gap
• 2:26
  obviously
• 2:27
  is
• 2:27
  in
• 2:27
  a
• 2:27
  totally
• 2:28
  different
• 2:28
  spot.
• 2:29
  Um,
• 2:30
  I
• 2:30
  think
• 2:30
  you
• 2:30
  really
• 2:30
  have
• 2:31
  to
• 2:31
  look
• 2:31
  at
• 2:31
  them
• 2:31
  differently.
• 2:32
  I
• 2:32
  don't
• 2:32
  think
• 2:32
  that
• 2:32
  you
• 2:32
  can
• 2:33
  compare.
• 2:34
  I'm
• 2:34
  not
• 2:34
  surprised
• 2:35
  to
• 2:35
  see
• 2:35
  them
• 2:35
  taking
• 2:36
  a
• 2:36
  page
• 2:36
  out
• 2:36
  of
• 2:36
  the
• 2:36
  Mattel
• 2:37
  book
• 2:37
  with
• 2:37
  Richard
• 2:38
  Dixon
• 2:38
  still
• 2:38
  at
• 2:38
  the
• 2:39
  helm.
• 2:39
  But
• 2:40
  I
• 2:40
  think
• 2:40
  that
• 2:41
  this
• 2:41
  is,
• 2:42
  this
• 2:42
  is
• 2:42
  going
• 2:42
  to
• 2:42
  be
• 2:42
  a
• 2:42
  valuable
• 2:43
  role
• 2:43
  for
• 2:43
  Gap.
• 2:44
  But
• 2:44
  I
• 2:44
  think
• 2:44
  it's
• 2:44
  actually
• 2:45
  just
• 2:45
  this
• 2:46
  generation
• 2:47
  or
• 2:47
  this
• 2:47
  era's
• 2:48
  creative
• 2:48
  director
• 2:49
  when
• 2:49
  it
• 2:49
  comes
• 2:49
  to
• 2:49
  marketing.
• 2:50
  I
• 2:50
  don't
• 2:50
  think
• 2:50
  this
• 2:51
  is
• 2:51
  going
• 2:51
  to
• 2:51
  be
• 2:51
  like
• 2:51
  we're
• 2:52
  going
• 2:52
  to
• 2:52
  be
• 2:52
  seeing
• 2:52
  full
• 2:53
  on
• 2:53
  episodes
• 2:54
  that
• 2:54
  are,
• 2:54
  you
• 2:55
  know,
• 2:55
  inspired
• 2:56
  by,
• 2:56
  you
• 2:56
  know,
• 2:57
  Gap
• 2:57
  apparel
• 2:58
  or
• 2:58
  a
• 2:58
  sweatshirt
• 2:59
  or
• 2:59
  something.
• 2:59
  The
• 2:59
  way
• 2:59
  that
• 3:00
  Fanatics,
• 3:00
  I
• 3:00
  think
• 3:00
  can
• 3:01
  do
• 3:01
  this,
• 3:01
  I
• 3:02
  think
• 3:02
  it's
• 3:02
  really
• 3:02
  going
• 3:02
  to
• 3:03
  be
• 3:03
  about,
• 3:04
  you
• 3:04
  know,
• 3:05
  how
• 3:05
  are
• 3:05
  they
• 3:05
  getting
• 3:05
  cat's
• 3:06
  eye
• 3:06
  in
• 3:06
  to
• 3:07
  create
• 3:07
  unique
• 3:08
  content
• 3:08
  in
• 3:08
  this
• 3:08
  studio.
• 3:09
  I
• 3:09
  think
• 3:09
  it's
• 3:09
  just
• 3:09
  going
• 3:10
  to
• 3:10
  be
• 3:10
  like
• 3:10
  a
• 3:10
  new,
• 3:11
  a
• 3:11
  new
• 3:11
  photo
• 3:12
  studio
• 3:12
  or
• 3:12
  a
• 3:12
  new
• 3:13
  creative
• 3:13
  studio
• 3:14
  that
• 3:14
  Gap
• 3:14
  is
• 3:15
  using
• 3:15
  to
• 3:15
  create
• 3:15
  some
• 3:16
  of
• 3:16
  their
• 3:16
  own
• 3:16
  organic
• 3:17
  content
• 3:18
  that
• 3:18
  will
• 3:18
  help
• 3:18
  drive
• 3:19
  marketing
• 3:19
  traffic
• 3:20
  to
• 3:20
  the
• 3:20
  brand.
• 3:21
  So
• 3:21
  I
• 3:21
  don't
• 3:22
  think
• 3:22
  that
• 3:22
  they're
• 3:22
  the
• 3:22
  same
• 3:22
  thing,
• 3:24
  but
• 3:24
  if
• 3:24
  I
• 3:24
  have
• 3:24
  to
• 3:24
  pick
• 3:24
  a
• 3:24
  winner,
• 3:25
  it's
• 3:25
  100%
• 3:26
  fanatics.
• 3:27
  Oh,
• 3:27
  100%
• 3:28
  it's
• 3:28
  fanatics.
• 3:28
  100%
• 3:29
  it's
• 3:29
  fanatics.
• 3:30
  I
• 3:30
  mean
• 3:30
  the
• 3:30
  tie
• 3:30
  ins
• 3:30
  are
• 3:30
  endless
• 3:31
  sports.
• 3:31
  You
• 3:31
  even
• 3:32
  mentioned
• 3:32
  the
• 3:32
  memorabilia
• 3:33
  side
• 3:33
  of
• 3:33
  this
• 3:33
  too,
• 3:33
  which
• 3:33
  is
• 3:34
  a
• 3:34
  play
• 3:34
  that
• 3:34
  Fanatics
• 3:34
  is
• 3:35
  all
• 3:35
  in
• 3:35
  on.
• 3:35
  So.
• 3:35
  But
• 3:36
  yeah,
• 3:36
  and,
• 3:37
  and,
• 3:37
  and
• 3:37
  Gap,
• 3:38
  like
• 3:38
  I,
• 3:39
  I
• 3:39
  100%
• 3:40
  agree
• 3:40
  but
• 3:40
  I
• 3:40
  want
• 3:40
  to
• 3:40
  ask
• 3:41
  you
• 3:41
  a
• 3:41
  question
• 3:41
  too
• 3:41
  because
• 3:42
  like
• 3:42
  I,
• 3:42
  it
• 3:43
  feels
• 3:43
  like
• 3:43
  I
• 3:43
  had
• 3:43
  success
• 3:44
  with
• 3:44
  Barbie
• 3:44
  and
• 3:44
  I'm
• 3:44
  going
• 3:45
  to
• 3:45
  replicate
• 3:45
  that
• 3:45
  kind
• 3:45
  of
• 3:46
  thing
• 3:46
  with
• 3:46
  Gap.
• 3:46
  But
• 3:47
  like,
• 3:47
  do
• 3:47
  you
• 3:48
  need
• 3:48
  a
• 3:48
  whole
• 3:48
  LA
• 3:49
  division
• 3:49
  on
• 3:49
  Sunset
• 3:50
  Boulevard
• 3:51
  to
• 3:51
  do
• 3:51
  this?
• 3:51
  And
• 3:52
  like
• 3:52
  that
• 3:52
  seems
• 3:53
  like
• 3:53
  a
• 3:53
  gigantic
• 3:54
  one
• 3:54
  waste
• 3:54
  of
• 3:54
  capital
• 3:55
  to
• 3:55
  me
• 3:56
  because
• 3:56
  I'm
• 3:56
  with
• 3:56
  you.
• 3:56
  It
• 3:57
  just
• 3:57
  seems
• 3:57
  like,
• 3:58
  you
• 3:58
  know,
• 3:59
  even
• 3:59
  the
• 3:59
  cited
• 3:59
  examples
• 4:00
  in
• 4:00
  the
• 4:00
  press
• 4:00
  release,
• 4:01
  those
• 4:01
  are
• 4:01
  just
• 4:01
  garden
• 4:01
  variety
• 4:02
  marketing.
• 4:03
  So
• 4:03
  I'm
• 4:03
  not
• 4:03
  seeing
• 4:03
  how
• 4:03
  an
• 4:04
  entertainment
• 4:04
  office
• 4:05
  on
• 4:05
  Sunset
• 4:05
  Boulevard
• 4:06
  is
• 4:06
  necessarily
• 4:06
  going
• 4:06
  to
• 4:07
  soup
• 4:07
  that
• 4:07
  up
• 4:07
  in
• 4:08
  a
• 4:08
  way
• 4:08
  that's
• 4:08
  going
• 4:08
  to
• 4:08
  pay
• 4:08
  back
• 4:09
  with
• 4:09
  ROI
• 4:09
  over
• 4:10
  the
• 4:10
  time.
• 4:10
  It
• 4:10
  just
• 4:11
  seems
• 4:11
  super
• 4:12
  expensive.
• 4:12
  Yeah,
• 4:13
  I
• 4:13
  think
• 4:14
  it's
• 4:14
  be,
• 4:14
  I
• 4:14
  would
• 4:15
  say,
• 4:15
  you
• 4:15
  know,
• 4:16
  do
• 4:16
  brands
• 4:16
  have
• 4:16
  their
• 4:17
  own
• 4:17
  photo
• 4:17
  studios
• 4:18
  and
• 4:18
  video
• 4:18
  studios
• 4:19
  to
• 4:19
  save
• 4:19
  money
• 4:20
  on
• 4:20
  fees
• 4:20
  that
• 4:20
  they're
• 4:21
  paying?
• 4:21
  Absolutely.
• 4:22
  So
• 4:22
  if
• 4:22
  they
• 4:22
  got
• 4:22
  a
• 4:23
  smoke
• 4:23
  and
• 4:23
  deal
• 4:24
  in
• 4:24
  L.
• 4:24
  A
• 4:24
  where
• 4:25
  all
• 4:25
  of
• 4:25
  the
• 4:25
  talent
• 4:26
  is
• 4:26
  that
• 4:26
  they're
• 4:26
  going
• 4:26
  to
• 4:26
  want
• 4:26
  to
• 4:27
  do
• 4:27
  collaborations
• 4:27
  with
• 4:28
  instead
• 4:28
  of,
• 4:28
  you
• 4:28
  know,
• 4:29
  expecting
• 4:29
  people
• 4:30
  to
• 4:30
  fly
• 4:30
  through
• 4:30
  to
• 4:30
  San
• 4:31
  Francisco
• 4:31
  like
• 4:32
  that,
• 4:32
  that
• 4:32
  it
• 4:32
  just,
• 4:33
  again,
• 4:33
  it's
• 4:33
  marketing.
• 4:34
  It's
• 4:34
  not
• 4:34
  about
• 4:35
  a
• 4:35
  content
• 4:36
  studio
• 4:36
  and
• 4:36
  like
• 4:37
  massive,
• 4:38
  you
• 4:38
  know,
• 4:39
  Paramount
• 4:39
  productions,
• 4:40
  this
• 4:40
  is
• 4:41
  about
• 4:41
  how
• 4:42
  they're
• 4:42
  Thinking
• 4:42
  about,
• 4:43
  we
• 4:44
  had
• 4:44
  success
• 4:44
  with
• 4:44
  Cat's
• 4:45
  Eye,
• 4:45
  we
• 4:45
  had
• 4:45
  success
• 4:46
  with
• 4:46
  this
• 4:46
  choir.
• 4:47
  Now
• 4:47
  what
• 4:47
  can
• 4:48
  we
• 4:48
  do?
• 4:48
  We
• 4:48
  can
• 4:48
  have
• 4:49
  it
• 4:49
  in
• 4:49
  L.
• 4:49
  A
• 4:49
  and
• 4:49
  we
• 4:49
  can
• 4:50
  shoot
• 4:50
  it
• 4:50
  all
• 4:50
  ourselves
• 4:51
  on
• 4:51
  our
• 4:51
  property
• 4:52
  without
• 4:52
  having
• 4:52
  to
• 4:53
  hire
• 4:53
  people.
• 4:53
  Like
• 4:54
  this
• 4:54
  is
• 4:54
  just
• 4:55
  making
• 4:55
  their
• 4:55
  marketing
• 4:56
  better.
• 4:57
  And
• 4:57
  so
• 4:58
  I
• 4:58
  don't
• 4:58
  hate
• 4:58
  it.
• 4:58
  I
• 4:59
  think
• 4:59
  it's
• 4:59
  just
• 4:59
  how
• 4:59
  it's
• 5:00
  being.
• 5:00
  It's.
• 5:01
  I
• 5:01
  think
• 5:01
  they're
• 5:01
  trying
• 5:01
  to
• 5:02
  capture
• 5:02
  this
• 5:02
  like
• 5:03
  chief
• 5:03
  storyteller
• 5:05
  role.
• 5:05
  This,
• 5:05
  you
• 5:06
  know,
• 5:06
  this
• 5:06
  director,
• 5:07
  this
• 5:07
  fashion
• 5:08
  tainment
• 5:08
  thing.
• 5:09
  Like
• 5:09
  they're
• 5:09
  trying
• 5:09
  to
• 5:09
  gather
• 5:10
  PR
• 5:10
  for
• 5:11
  that.
• 5:11
  But
• 5:11
  I
• 5:11
  don't
• 5:11
  think
• 5:11
  that's
• 5:12
  what
• 5:12
  this
• 5:12
  ultimately
• 5:13
  is
• 5:13
  about.
• 5:13
  That's
• 5:13
  interesting
• 5:14
  too.
• 5:14
  Like,
• 5:14
  you
• 5:14
  know,
• 5:14
  I
• 5:14
  keep
• 5:14
  going.
• 5:15
  I
• 5:15
  actually
• 5:16
  I
• 5:16
  texted
• 5:16
  our
• 5:16
  buddy
• 5:17
  Simeon
• 5:17
  Sewell
• 5:17
  the
• 5:18
  other
• 5:18
  day
• 5:18
  when
• 5:18
  I
• 5:18
  was
• 5:18
  at
• 5:18
  NRF
• 5:19
  and
• 5:19
  I
• 5:19
  said
• 5:19
  to
• 5:19
  him
• 5:19
  what
• 5:19
  was
• 5:20
  the
• 5:20
  number
• 5:20
  you
• 5:20
  said?
• 5:20
  Remember
• 5:21
  when
• 5:21
  he,
• 5:21
  we
• 5:21
  interviewed
• 5:21
  him
• 5:21
  and
• 5:21
  he
• 5:21
  said
• 5:22
  there's,
• 5:22
  there's
• 5:22
  a
• 5:23
  number
• 5:23
  that
• 5:23
  you
• 5:23
  know,
• 5:24
  that
• 5:24
  especially
• 5:24
  results
• 5:25
  just
• 5:25
  can't
• 5:25
  get
• 5:25
  above.
• 5:25
  And
• 5:26
  he
• 5:26
  said
• 5:26
  it's
• 5:26
  like
• 5:26
  3
• 5:26
  billion
• 5:27
  to
• 5:27
  $4
• 5:27
  billion.
• 5:28
  And
• 5:28
  like
• 5:29
  that's
• 5:29
  when
• 5:29
  I
• 5:29
  started
• 5:29
  thinking
• 5:29
  about
• 5:30
  these
• 5:30
  strategies
• 5:30
  where
• 5:31
  I'm
• 5:31
  like
• 5:31
  these
• 5:32
  strategies,
• 5:32
  they
• 5:33
  only
• 5:33
  work
• 5:33
  for
• 5:33
  a
• 5:34
  time
• 5:34
  when
• 5:34
  you
• 5:34
  leverage
• 5:35
  the
• 5:35
  marketing
• 5:35
  up
• 5:35
  because
• 5:36
  you're
• 5:36
  just.
• 5:36
  The
• 5:36
  payroll
• 5:37
  veto's
• 5:37
  are
• 5:37
  just
• 5:37
  simply
• 5:38
  shifting
• 5:39
  the
• 5:39
  share
• 5:39
  amongst
• 5:40
  themselves
• 5:40
  each
• 5:41
  and
• 5:41
  every
• 5:41
  year
• 5:41
  based
• 5:41
  on
• 5:41
  what
• 5:42
  the
• 5:42
  trends
• 5:42
  are.
• 5:43
  And
• 5:43
  so
• 5:43
  yeah,
• 5:44
  I
• 5:44
  mean
• 5:44
  I
• 5:44
  can
• 5:44
  buy
• 5:44
  into
• 5:44
  what
• 5:45
  you're
• 5:45
  saying
• 5:45
  but
• 5:45
  like
• 5:45
  at
• 5:45
  the
• 5:45
  end
• 5:45
  of
• 5:46
  the
• 5:46
  day,
• 5:46
  like
• 5:47
  I
• 5:47
  don't
• 5:48
  know,
• 5:48
  it's
• 5:48
  just,
• 5:48
  it's
• 5:48
  not
• 5:48
  going
• 5:49
  to
• 5:49
  move,
• 5:49
  it's
• 5:49
  not
• 5:49
  going
• 5:49
  to
• 5:50
  move
• 5:50
  the
• 5:50
  needle
• 5:50
  long
• 5:51
  term
• 5:51
  from
• 5:51
  a
• 5:51
  differentiation
• 5:52
  perspective,
• 5:52
  but
• 5:52
  who
• 5:53
  knows?
• 5:53
  Yeah.
• 5:53
  Wow.