Latest / Earn Your Leisure / Rich Paul & Junior Bridgeman On $600 Million Business Blueprint, World's Top Sports Agency & LeBron

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Rich Paul & Junior Bridgeman On $600 Million Business Blueprint, World's Top Sports Agency & LeBron · Earn Your Leisure

• 0:00
  Speaker 1: Because marketing is not endorsements. Marketing is storytelling. Endorsements are endorsements. Marketing,
• 0:07
  Speaker 1: the best marketing companies in the world, they never tell
• 0:10
  Speaker 1: you a price, but they show you the product, but
• 0:12
  Speaker 1: they never tell you the price. Honda's going to say,
• 0:15
  Speaker 1: this is the Civic 2023 with leather. It costs you 36,000.
• 0:20
  Speaker 1: That's a different, that's a sales thing. That's a totally
• 0:22
  Speaker 1: different thing.
• 0:23
  Speaker 2: Right. All right. So I want to start with Mr. Bridgman.
• 0:29
  Speaker 3: I want to, so it's crazy because when we first
• 0:31
  Speaker 3: started earn your leisure, I told you a story and
• 0:37
  Speaker 3: I want to retell it.
• 0:38
  Speaker 2: Correct me if I'm wrong. You played in the NBA
• 0:42
  Speaker 2: years ago, right?
• 0:44
  Speaker 3: And you never made like maximum amount of money, a
• 0:47
  Speaker 3: couple hundred thousand dollars. Uh, but during the off seasons
• 0:52
  Speaker 3: of your career, you worked in a Wendy's. Um, People
• 0:57
  Speaker 3: might have thought that it's kind of odd that an
• 0:59
  Speaker 3: NBA player is working in Wendy's, but you were working
• 1:01
  Speaker 3: in Wendy's to learn the business. After you were done playing,
• 1:06
  Speaker 3: you purchased a Wendy's franchise, and you grew into the
• 1:10
  Speaker 3: largest franchisee owner of Wendy's and Chili's in the world.
• 1:17
  Speaker 2: I believe, right? He said yes. Keep going. Keep going.
• 1:24
  Speaker 3: And amassed a fortune of over $ 600 million in the process.
• 1:29
  Speaker 3: And then sold his portfolio of fast food franchises and
• 1:35
  Speaker 3: purchased the Coca-Cola bottling distribution centers for Canada, right? Then
• 1:42
  Speaker 3: also purchased Ebony Magazine and just the whole thing. So
• 1:48
  Speaker 3: it's a very interesting story and something that we covered.
• 1:52
  Speaker 2: So did I do it justice? You did, yeah, okay.
• 1:59
  Speaker 2: He's also the king of Louisville.
• 2:01
  Speaker 4: His real estate portfolio is incredible.
• 2:03
  Speaker 2: What else did we miss? Proud father. Yeah, yeah. I
• 2:07
  Speaker 2: didn't quite get the question of what you said.
• 2:09
  Speaker 1: I was saying, did we miss anything?
• 2:11
  Speaker 5: Oh, no, that pretty much sums it up. The only
• 2:17
  Speaker 5: thing that I got to get out there, sit next
• 2:19
  Speaker 5: to this gentleman right here who handles all of these
• 2:23
  Speaker 5: players making money. They make a little bit of money nowadays.
• 2:27
  Speaker 5: But when I came into the league, the total salary
• 2:32
  Speaker 5: for 12 ballplayers and three coaches, total salary for 15
• 2:38
  Speaker 5: people when I came into the NBA was $ 1.
• 2:40
  Speaker 2: 8 million. So you divide that up.
• 2:47
  Speaker 5: And when I left the league, I made the most
• 2:50
  Speaker 5: money that I made my last year, and that was $ 350, 000.
• 2:54
  Speaker 5: And that's a lot of money. There's no question about that.
• 3:00
  Speaker 5: But when you talk about taxes and family that needs
• 3:05
  Speaker 5: money and all of that.
• 3:07
  Speaker 5: I left the league knowing that I would have to
• 3:09
  Speaker 5: have a job doing something else. And I worked, as
• 3:13
  Speaker 5: you mentioned, Wendy's, but I also worked for an insurance
• 3:16
  Speaker 5: company and I worked at Howard Johnson's in the off season.
• 3:20
  Speaker 2: I actually went back.
• 3:21
  Speaker 5: To law school for four summers and you can't get
• 3:24
  Speaker 5: a law degree in four summers. So don't try that. But, uh,
• 3:28
  Speaker 5: just trying to figure out what I wanted to do.
• 3:30
  Speaker 5: And the only reason I stayed with Wendy's was I
• 3:33
  Speaker 5: figured I'd hire somebody to run it and they could
• 3:36
  Speaker 5: make money for me while I figured out what I
• 3:39
  Speaker 5: was going to do in life after basketball. And I
• 3:44
  Speaker 5: got offered from the Milwaukee Bucks to be an assistant
• 3:46
  Speaker 5: general manager making $ 50, 000 a year. But As attractive as
• 3:52
  Speaker 5: that might have been at that time, I wanted to
• 3:54
  Speaker 5: see what I could do myself. I wanted to see
• 3:58
  Speaker 5: what I could grow. I didn't want to have somebody
• 4:02
  Speaker 5: telling me I need to be at work at 8.30
• 4:04
  Speaker 5: and I couldn't get off until 5 o'clock. And so
• 4:07
  Speaker 5: that's why I got involved with Wendy's. I figured food,
• 4:10
  Speaker 5: people always need to eat, so we'll see how that develops,
• 4:14
  Speaker 5: how that goes.
• 4:15
  Speaker 3: Hold on, let me just follow up. So how were
• 4:17
  Speaker 3: you able to scale that work? Wendy's business to become
• 4:22
  Speaker 3: the number one franchise owner in the world? Well, we
• 4:29
  Speaker 3: started off like most companies at that time. If you're
• 4:33
  Speaker 3: black and you're going to get involved, they're going to
• 4:36
  Speaker 3: put you in the black area town. And so it
• 4:39
  Speaker 3: was no different. We started in Milwaukee because I spent
• 4:42
  Speaker 3: all those years there with five stores.
• 4:45
  Speaker 2: In the in the inner city of Milwaukee.
• 4:48
  Speaker 5: And they were not very good restaurants, but I figured
• 4:53
  Speaker 5: if we worked at it, you could turn things around.
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  Speaker 5: And I'll tell you, the average volume of those five
• 4:59
  Speaker 5: restaurants was only $ 600, 000 a year. And you're not making
• 5:03
  Speaker 5: any money at that volume. Today, those restaurants, and my
• 5:07
  Speaker 5: son runs them, so we still have a lot of them,
• 5:09
  Speaker 5: but they do over $ 2 million in sales. And how
• 5:12
  Speaker 5: do you do that? by getting involved with the people
• 5:16
  Speaker 5: and letting people know that you care about them.
• 5:20
  Speaker 2: Now, how do you do that?
• 5:22
  Speaker 5: Back at that time in Milwaukee, if you got stopped
• 5:25
  Speaker 5: for any traffic violation, they took you to jail. It
• 5:30
  Speaker 5: was a crazy law that I'm glad they've changed, but
• 5:33
  Speaker 5: where was all of our people at?
• 5:34
  Speaker 2: They were in jail.
• 5:36
  Speaker 5: So we were bailing people out every day. And I
• 5:39
  Speaker 5: could take you through other things that we did to
• 5:41
  Speaker 5: help show people that we cared about them. And once
• 5:44
  Speaker 5: they realized that we cared about them, then they cared
• 5:47
  Speaker 5: about the business and they cared about us.
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  Speaker 2: And we grew.
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  Speaker 5: And as we grew and added more stores, we were
• 5:54
  Speaker 5: able to promote people from a general manager to a
• 5:58
  Speaker 5: district manager to an area operations person. And after a while,
• 6:01
  Speaker 5: we had a whole lot of people making over $ 100, 000
• 6:03
  Speaker 5: a year. And you would say, how did that happen?
• 6:09
  Speaker 5: And it was in what I would call a real
• 6:12
  Speaker 5: American dream. You could come go to work if you
• 6:15
  Speaker 5: had just natural common sense and you were willing to
• 6:19
  Speaker 5: work hard, you could make a good living for yourself.
• 6:22
  Speaker 5: And we had people that went on from there and
• 6:24
  Speaker 5: became franchisees on their own. So turn around and it
• 6:29
  Speaker 5: was a matter of helping people. And then one day
• 6:32
  Speaker 5: I looked up and we had 275 Wendy's restaurants. And
• 6:36
  Speaker 5: then I turned around and we had 125 Chili's restaurants.
• 6:39
  Speaker 5: And then we had 500 restaurants, you know, and 25,000
• 6:44
  Speaker 5: people working for us.
• 6:45
  Speaker 2: So. Scaling looks likely.
• 6:48
  Speaker 4: My brother, Rich, first congratulations, Clutch Sports, 10.
• 6:53
  Speaker 1: Years in business.
• 6:54
  Speaker 2: It's interesting.
• 6:55
  Speaker 1: I'm listening to Junior speak.
• 6:57
  Speaker 4: And he was thinking he had to get a job
• 6:59
  Speaker 4: after the season was over. And your job is to
• 7:02
  Speaker 4: make sure that the guys are doing stuff that are
• 7:03
  Speaker 4: productive outside of basketball when their seasons are over, in
• 7:07
  Speaker 4: addition to their contracts.
• 7:09
  Speaker 1: But I want to congratulate you.
• 7:11
  Speaker 4: I'm going to run up some numbers, all right? Anthony Davis,
• 7:14
  Speaker 4: a client, three years, $ 186 million. Draymond Green, four years,
• 7:16
  Speaker 4: $ 100 million. Fred Van Fleet. Three years, 128 million. Jeremy Grant,
• 7:23
  Speaker 4: five years, 160 million. DeJounte Murray, four years, 120 million. Oh,
• 7:30
  Speaker 4: and Jalen Hurts, five years, 255 million.
• 7:35
  Speaker 2: My brother, you've had a great summer. Can he come
• 7:42
  Speaker 2: back and represent me?
• 7:45
  Speaker 4: We'll negotiate it. You've had an amazing summer. Two billion
• 7:49
  Speaker 4: dollars in contracts.
• 7:51
  Speaker 3: Make some noise for that. Two billion dollars in contracts.
• 7:56
  Speaker 3: Number one agent, sports agency, owned by a black man.
• 8:01
  Speaker 1: Owned by a black man.
• 8:02
  Speaker 2: That's a fact.
• 8:03
  Speaker 1: But it's bigger than money with you. It's more about
• 8:05
  Speaker 1: the education.
• 8:06
  Speaker 4: I want you to talk about that because we can
• 8:08
  Speaker 4: see what happens if you're doing something outside of the field.
• 8:12
  Speaker 1: Yeah. First, I want to start off by saying I
• 8:14
  Speaker 1: really appreciate this room. It's a really beautiful room. So
• 8:19
  Speaker 1: thank you guys for for showing up and wanting to
• 8:21
  Speaker 1: hear us talk. Yeah, I think I had a great summer,
• 8:29
  Speaker 1: you know. There was some in there, Quentin Williams, you know,
• 8:33
  Speaker 1: signed a $ 100 million deal. But I said this, and
• 8:36
  Speaker 1: I'll say it again, and this is how life come
• 8:39
  Speaker 1: around in full circle. Ironically, out of all those numbers
• 8:43
  Speaker 1: you named, the most important deal I did this summer
• 8:46
  Speaker 1: was for a kid named Chris Livingston. And he was
• 8:49
  Speaker 1: the last pick in the draft this year. He was
• 8:52
  Speaker 1: the 58th pick in the draft to the Milwaukee Bucks.
• 8:56
  Speaker 1: And the reason why I felt that that was the
• 8:59
  Speaker 1: most important is because I think people underestimate how important
• 9:04
  Speaker 1: it is to just have a start at something. People
• 9:08
  Speaker 1: really underestimate that. And so for me to be able
• 9:13
  Speaker 1: to give this kid an opportunity for him to have
• 9:17
  Speaker 1: guaranteed money to wear He don't have to scratch and claw,
• 9:22
  Speaker 1: and he can kind of take some time to develop
• 9:26
  Speaker 1: as a ball player. And for me to make this
• 9:29
  Speaker 1: deal with the Milwaukee Bucks, understanding who they were as
• 9:33
  Speaker 1: an organization, it wasn't about the money for me. It
• 9:36
  Speaker 1: was about growth opportunity for him. And so I placed
• 9:42
  Speaker 1: him there. I picked up the phone and called teams. 37, 38, 39,
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  Speaker 1: 40 and tell them, don't draft them. Please don't draft
• 9:52
  Speaker 1: them because I had a better situation for them. And yeah,
• 9:57
  Speaker 1: although these guys are making the money they're making, it
• 10:01
  Speaker 1: don't matter if your habits aren't great, right? He made,
• 10:08
  Speaker 1: that's real, like Mr. Bridgman made what he made, but
• 10:14
  Speaker 1: it didn't matter as our relative because his mindset was
• 10:17
  Speaker 1: I'm going to continue to do more despite where I land. Oftentimes,
• 10:23
  Speaker 1: as you make more, you become more complacent in your
• 10:26
  Speaker 1: approach to things, right? In the way you think, your mindset.
• 10:31
  Speaker 1: And I always try to get guys to understand that
• 10:35
  Speaker 1: it's important to continue to have drive. It's important to
• 10:38
  Speaker 1: continue to have a positive mindset, positive energy while doing well, right?
• 10:45
  Speaker 1: And so, That's just where I sit in the business.
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  Speaker 1: I've been blessed, you know, and as much as it's
• 10:52
  Speaker 1: been about me, you know, I started with me and
• 10:56
  Speaker 1: a young lady. Her New York apartment was my New
• 11:00
  Speaker 1: York office and my house was my Cleveland office. And
• 11:03
  Speaker 1: now we employ 85 people and we got three different
• 11:05
  Speaker 1: offices around the states, around the country. So that's important
• 11:09
  Speaker 1: to me, you know. But it's been a long road.
• 11:15
  Speaker 1: But at the same time, a blessed road, and I
• 11:19
  Speaker 1: walk around, I see people. What's important to me is
• 11:23
  Speaker 1: to just try to give somebody a minute of my time,
• 11:26
  Speaker 1: because you never know what that does for their day.
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  Speaker 1: And so that's my mindset as I continue to walk
• 11:34
  Speaker 1: this journey.
• 11:35
  Speaker 3: So Rich, I want to just ask you a question.
• 11:39
  Speaker 3: You are very intentional about, you're not an agent, right?
• 11:43
  Speaker 3: You're a CEO of a company. Clutch Sports.
• 11:46
  Speaker 1: I changed my title, by the way.
• 11:48
  Speaker 2: What's your title?
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  Speaker 1: I'm the Chief Client Services Officer. In addition to being
• 11:54
  Speaker 1: the CEO, because ultimately I'm in the client service business.
• 11:57
  Speaker 1: My life is basically theirs. So the foundation of my
• 12:01
  Speaker 1: business is in client services. So although I'm the CEO,
• 12:05
  Speaker 1: my title doesn't mean I can't carry the gym shoes
• 12:08
  Speaker 1: or I can't go pick up something to eat for
• 12:12
  Speaker 1: a client. That don't I don't have any pride, you know.
• 12:20
  Speaker 2: You know what my title is? You know what my
• 12:23
  Speaker 2: title is?
• 12:24
  Speaker 1: I don't.
• 12:25
  Speaker 2: CVO.
• 12:27
  Speaker 3: Chief Vibe Officer. Because we got to curate vibes at
• 12:31
  Speaker 3: all times.
• 12:31
  Speaker 1: Well, I appreciate that.
• 12:34
  Speaker 2: That's important. It's needed.
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  Speaker 3: Very important. So, I want to talk about what's your
• 12:39
  Speaker 3: mindset in... branding yourself like that. I'm looking at the
• 12:44
  Speaker 3: merch that you have, Clutch. You're not a regular agent.
• 12:48
  Speaker 3: You've looked at yourself as a business owner with different verticals,
• 12:54
  Speaker 3: and I don't think any other agent has really done that.
• 12:56
  Speaker 3: So what was your thought process? And that's a valuable
• 12:59
  Speaker 3: lesson for anybody that's in business to not pigeonhole yourself
• 13:03
  Speaker 3: into one thing and always think bigger.
• 13:05
  Speaker 1: Well, my initial thought process was... to not make it
• 13:09
  Speaker 1: about me, right? So when I was naming a company,
• 13:12
  Speaker 1: I wanted to name it something that could actually grow legs.
• 13:15
  Speaker 1: If I name it Rich Paul Sports, now, you know,
• 13:21
  Speaker 1: there's a ceiling there. But by naming it Clutch, I
• 13:24
  Speaker 1: can diversify my portfolio, right? All I had to do
• 13:27
  Speaker 1: was really build the brand and build that awareness. Today,
• 13:31
  Speaker 1: it has a global awareness. So I'm continuing to create verticals.
• 13:36
  Speaker 1: So as you see what I wear today, this is Clutch.
• 13:38
  Speaker 1: the apparel brand, and I partnered with New Balance basically
• 13:42
  Speaker 1: because I felt like they were the best partner for
• 13:44
  Speaker 1: me going forward, where they would be the most growth opportunity.
• 13:48
  Speaker 1: And my mindset behind doing this, as much as it was,
• 13:52
  Speaker 1: I was a kid, I love sports, I love fashion,
• 13:55
  Speaker 1: and that's something I always wanted to do. I also
• 13:57
  Speaker 1: understood how hard it was for somebody that looks like
• 14:00
  Speaker 1: me to get an opportunity at the major brands that
• 14:04
  Speaker 1: we excessively spend our dollars from a disposable income perspective
• 14:09
  Speaker 1: but there's no reciprocity. None of these people in here
• 14:13
  Speaker 1: can really actually get a job at the competitors, right?
• 14:18
  Speaker 1: At a Nike, at Adidas. And when I say that,
• 14:24
  Speaker 1: I'm saying there may be a few, but there's no pathway.
• 14:28
  Speaker 1: There's a ton of designers in here. There's a ton
• 14:30
  Speaker 1: of marketing curators in here. There's a ton of creative,
• 14:34
  Speaker 1: innovative people in here. And I'm sure they got a
• 14:37
  Speaker 1: closet full of I don't know how many different brands,
• 14:42
  Speaker 1: but where's the reciprocity as it pertains to come back
• 14:45
  Speaker 1: to our neighborhoods and our communities? And so I want
• 14:48
  Speaker 1: to build a company in which as you go out
• 14:51
  Speaker 1: and support this brand, just understand that it's being built
• 14:55
  Speaker 1: to support your kids and your kids' kids down the road.
• 14:59
  Speaker 1: That's my vision. And if I'm able to do that,
• 15:03
  Speaker 1: that's the real way for me paying it forward.
• 15:07
  Speaker 2: Mr. Bridgeman.
• 15:09
  Speaker 4: There's this saying that wealth is quiet. And when we
• 15:13
  Speaker 4: talk about wealth inside of NBA players, most people think.
• 15:17
  Speaker 2: Jordan, they think Shaq, they think LeBron.
• 15:21
  Speaker 4: But they never think of you inside of that wealth
• 15:23
  Speaker 4: conversation when it comes to NBA players. What do you
• 15:26
  Speaker 4: say about being laser focused on the goal of helping
• 15:30
  Speaker 4: people add in value and having money as the byproduct?
• 15:34
  Speaker 1: It's the byproduct of the value you add.
• 15:37
  Speaker 5: Well, you know, one thing I would say, which, you know,
• 15:40
  Speaker 5: growing up in the Baptist church and they sing a
• 15:42
  Speaker 5: song that if you don't help someone along the way,
• 15:46
  Speaker 5: then your living is in vain. And that's really what
• 15:50
  Speaker 5: it's all about. You know, some people, well, the first
• 15:54
  Speaker 5: thing I would say is, you know, speaking for myself,
• 15:57
  Speaker 5: I don't believe I'm any smarter than anybody in the
• 15:59
  Speaker 5: room like that. And probably as said earlier by Robert
• 16:04
  Speaker 5: Smith and Steve Jones, You know, you probably, a lot
• 16:09
  Speaker 5: of the people in the room are much farther ahead
• 16:11
  Speaker 5: than where I was at your age. And I had
• 16:16
  Speaker 5: to go learn a lot of things. I mean, I
• 16:19
  Speaker 5: remember I got a restaurant. I didn't know what a
• 16:24
  Speaker 5: P & L was. I had never had to worry
• 16:27
  Speaker 5: about a P & L. So I had this accountant
• 16:30
  Speaker 5: that I had had for all these years. Oh, I
• 16:32
  Speaker 5: spent a lot of time in his office. asking question
• 16:35
  Speaker 5: after question after question, learning about what makes up a
• 16:41
  Speaker 5: P & L, what's amortization, what's depreciation. I did the
• 16:43
  Speaker 5: same thing with the attorney. I had paid him all
• 16:46
  Speaker 5: these years when I was playing, just trying to get
• 16:49
  Speaker 5: the knowledge. And then once I got to a certain point,
• 16:55
  Speaker 5: I thought back to that time when I said, well,
• 16:58
  Speaker 5: if you're not helping anybody, what are you really doing?
• 17:02
  Speaker 5: And I think a lot of us Don't we look
• 17:06
  Speaker 5: at what we can acquire now, what business we'd like
• 17:10
  Speaker 5: to have now? We don't think generationally. And I think
• 17:15
  Speaker 5: for a lot of us, the Chinese saying is they
• 17:18
  Speaker 5: plan for 100 years. And I think if we do that,
• 17:22
  Speaker 5: we'd be more willing to help people because we'd be
• 17:24
  Speaker 5: focusing on our kids and their kids and trying to
• 17:27
  Speaker 5: set people up to be successful down the line. And
• 17:31
  Speaker 5: we were talking about the athletes and the kind of
• 17:33
  Speaker 5: money that they make And I'm proud that they make
• 17:37
  Speaker 5: and happy that he's able to get the contracts for them.
• 17:40
  Speaker 5: But I think you can kind of lose focus and
• 17:42
  Speaker 5: think that I'm in.
• 17:43
  Speaker 2: This level up here.
• 17:46
  Speaker 5: And you really aren't because once they stop playing, that
• 17:50
  Speaker 5: income stops. And if you can have the money, what
• 17:53
  Speaker 5: I call wealth is what Robert Smith was talking about,
• 17:56
  Speaker 5: where he is, where it can go for generation and
• 17:59
  Speaker 5: generation and generation, that should be what the goal and
• 18:03
  Speaker 5: the plan is eventually, you know, not to have two
• 18:07
  Speaker 5: Rolls Royces in the driveway, something like that.
• 18:10
  Speaker 1: Rich, can I ask a follow-up to that? Yeah.
• 18:12
  Speaker 4: Because as we're talking about that education process, when you're
• 18:15
  Speaker 4: taking on a client, how important is that they're thinking
• 18:18
  Speaker 4: about life after the career before you involve them in
• 18:22
  Speaker 4: signing them to Clutch?
• 18:24
  Speaker 1: It's very important. And I'm telling you, man, athletes, they
• 18:30
  Speaker 1: live a tough life. It looks great, but when you
• 18:35
  Speaker 1: think about all they endured and the pull down, I
• 18:42
  Speaker 1: always tell my family, let me be your back line
• 18:46
  Speaker 1: of defense. Don't allow yourself to think that what's mine
• 18:51
  Speaker 1: is yours, but if I'm your back line of defense,
• 18:56
  Speaker 1: then we can really stay afloat. For athletes, we all
• 19:00
  Speaker 1: have survivor's remorse right we all have that feeling that
• 19:04
  Speaker 1: we we feel obligated and like mr bridgman said i
• 19:10
  Speaker 1: got guys 22 making 200 million dollars over the next
• 19:14
  Speaker 1: four or five years i got several of those guys
• 19:17
  Speaker 1: right and by the way but but the reality of
• 19:22
  Speaker 1: it is i'm constantly telling them that's not a lot
• 19:26
  Speaker 1: of money based upon where you're starting because you're starting
• 19:29
  Speaker 1: from zero Right. So how do we understand how to
• 19:32
  Speaker 1: compound that? Because they're done at 33. Everyone's not going
• 19:39
  Speaker 1: to be played to their 40. They're done when they're 33.
• 19:43
  Speaker 1: That money's taxed. You know, they're paying a 55, 51 tax.
• 19:48
  Speaker 1: Not to mention, jeans today, the ones they want that
• 19:52
  Speaker 1: they're buying in excess, which they probably don't really need that,
• 19:56
  Speaker 1: cost two grand. It's not the same. His jeans cost $ 25.
• 19:59
  Speaker 1: It's a difference. And so, it's all relative. No athlete
• 20:04
  Speaker 1: can afford to fly private all the time. Yet we
• 20:07
  Speaker 1: see so many athletes on the Instagram Flying private. I
• 20:11
  Speaker 1: fly Delta. I cannot afford to fly private. And that's
• 20:14
  Speaker 1: okay with me. You know what? And I'll fly. I'll
• 20:18
  Speaker 1: sit in the Comfort Plus as well. Comfort Plus? Yeah,
• 20:23
  Speaker 1: because I'm just trying to get where I'm trying to
• 20:25
  Speaker 1: go to make the money. I'm not trying to spend
• 20:27
  Speaker 1: the money. You know? I'm trying to get there. You know?
• 20:34
  Speaker 1: And the times I do fly private, you will never
• 20:36
  Speaker 1: see it on Instagram because it's not for show. And
• 20:39
  Speaker 1: so I think that, again, it's just this mentality. You
• 20:43
  Speaker 1: have to value infrastructure in any business, in anything, whether
• 20:48
  Speaker 1: that's a family infrastructure, whether it's a business infrastructure. You
• 20:52
  Speaker 1: have to have that. You can't scale without the infrastructure.
• 20:55
  Speaker 1: But again, growing up, all we know is how to
• 20:59
  Speaker 1: compete amongst one another. He's been around a long time.
• 21:05
  Speaker 1: These guys have come in and out the league. They
• 21:08
  Speaker 1: don't aspire to be him, right? But they want to
• 21:11
  Speaker 1: be the rappers, et cetera, because they want to do
• 21:15
  Speaker 1: things in excess. He's got an unbelievable portfolio. Imagine if
• 21:20
  Speaker 1: we had our own fund that we allow him to
• 21:23
  Speaker 1: oversee as well as someone from Blackstone or someone from
• 21:27
  Speaker 1: Apollo or someone from Aries. And then we compounded just 20%
• 21:33
  Speaker 1: of that income. I don't need to hold trees. In
• 21:38
  Speaker 1: the circles I run in, they're much more wealthy than
• 21:42
  Speaker 1: I am. But like I tell them, I just want
• 21:45
  Speaker 1: a little piece of the bark. I don't need the whole,
• 21:47
  Speaker 1: you know, I don't need, I just want to get
• 21:49
  Speaker 1: in the backseat, right? I'm going to shut up. I'm
• 21:50
  Speaker 1: going to sit back here. You don't even notice I'm here.
• 21:53
  Speaker 1: That's how I look at myself. And I really believe that.
• 21:56
  Speaker 1: And so I just try to get my guys to
• 21:58
  Speaker 1: understand that because we come from an environment to where
• 22:02
  Speaker 1: we only want to conquer. We want to conquer. That's
• 22:06
  Speaker 1: why we're killing each other. We want to conquer. There
• 22:08
  Speaker 1: can only be one king, which allows you not to collaborate.
• 22:13
  Speaker 1: If you don't collaborate, then that means we're not communicating.
• 22:17
  Speaker 1: If we're not communicating, then that means we're unable to
• 22:20
  Speaker 1: build what? A community. If we don't build a community,
• 22:24
  Speaker 1: then how are we going to build anything generational? You
• 22:27
  Speaker 1: just saying some shit that sound great. You know what
• 22:29
  Speaker 1: I'm saying? But that's not, it's not realistic without taking
• 22:33
  Speaker 1: the proper steps. You understand what I'm saying? And we've
• 22:36
  Speaker 1: all been there. You know, I come from just as
• 22:38
  Speaker 1: tough place as anybody in the world. But at the
• 22:40
  Speaker 1: same time, I can't have the same habits once I
• 22:45
  Speaker 1: made it out. I can't go back and glorify the
• 22:49
  Speaker 1: same things and not give it up, right? But if
• 22:54
  Speaker 1: you're going to ask me for a job, you also
• 22:56
  Speaker 1: have to be capable of doing the work. I can't
• 22:58
  Speaker 1: give you anything, right? You've got to be capable of
• 23:01
  Speaker 1: actually doing it once that opportunity is given. And so
• 23:05
  Speaker 1: it's a two-way street. And I just, you know, I stress,
• 23:09
  Speaker 1: I really stress this all the time. I want to
• 23:13
  Speaker 1: be able to hire as many people as I can, right?
• 23:17
  Speaker 1: But you got to have the capabilities. And so, you know,
• 23:20
  Speaker 1: let's match each other's energy from that perspective. And like
• 23:22
  Speaker 1: he said, everybody's not going to get rich. That's not realistic.
• 23:28
  Speaker 1: But you're in position. We didn't grow up next to
• 23:30
  Speaker 1: people that have careers. They had hustles. Some had decent jobs.
• 23:40
  Speaker 1: Very few had good-ass jobs and careers. It's just the truth.
• 23:46
  Speaker 1: And so we're trying to fill our way through, and
• 23:48
  Speaker 1: life is all about managing transitions. That's why a car
• 23:52
  Speaker 1: comes with a transmission, to understand those gears. You got
• 23:56
  Speaker 1: to know when to park, when to reverse, when to
• 23:58
  Speaker 1: stay neutral, and when to accelerate. That is real in
• 24:00
  Speaker 1: life itself as well. We've all been in situations where
• 24:03
  Speaker 1: we had to make decisions and say, you know what?
• 24:05
  Speaker 1: Let me just back up a little bit. Or let
• 24:07
  Speaker 1: me just park it right here before. Or if it's
• 24:09
  Speaker 1: going great, let me hit the gas and get to
• 24:12
  Speaker 1: where I'm trying to go. And so that's how I
• 24:15
  Speaker 1: think every day I wake up. I've never celebrated one
• 24:18
  Speaker 1: deal I've done. Not one. When I started working with
• 24:23
  Speaker 1: LeBron and for LeBron, the most money I ever made
• 24:27
  Speaker 1: working for LeBron was $ 48, 000 a year. That's the most
• 24:31
  Speaker 1: I ever made. I was only on his salary for
• 24:34
  Speaker 1: two years. That was, since 06, I've been off his payroll. Right,
• 24:40
  Speaker 1: we're in 2023. It was important for me to get
• 24:44
  Speaker 1: off of his payroll as fast as I possibly could.
• 24:46
  Speaker 1: That was very important to me.
• 24:50
  Speaker 2: Hold, hold, talk about that.
• 24:51
  Speaker 5: You know, before you jump in there, he said one
• 24:54
  Speaker 5: thing that I think kind of went over the crowd
• 24:57
  Speaker 5: that I think is very important, what he's doing. And
• 25:02
  Speaker 5: Back in my time, I was president of the Players Association,
• 25:04
  Speaker 5: and we used to always deal with the agents and
• 25:06
  Speaker 5: talk about what they weren't doing and how they were
• 25:09
  Speaker 5: taking advantage of guys. What he said was he'd like
• 25:12
  Speaker 5: to take his guys, take 20% of their money, and
• 25:16
  Speaker 5: put it in something that can grow, and they wouldn't
• 25:20
  Speaker 5: get it until later on, so they wouldn't be able
• 25:22
  Speaker 5: to use the money or blow the money.
• 25:24
  Speaker 2: But the thing that I.
• 25:27
  Speaker 5: And I don't know whether it's something inherent with us,
• 25:30
  Speaker 5: is we've got a lot of guys, if you take all,
• 25:33
  Speaker 5: making a lot of money. And if they got together
• 25:37
  Speaker 5: and somebody put them together and they combined just part
• 25:41
  Speaker 5: of what they earned in a fund, in a way
• 25:45
  Speaker 5: that it could benefit people who are trying to improve themselves,
• 25:50
  Speaker 5: start their business, do all those kind of things like that.
• 25:53
  Speaker 5: I don't know why that hasn't been done. I don't
• 25:55
  Speaker 5: know why someone hasn't been able to get everybody together
• 25:59
  Speaker 5: to do that because collectively they have the ability to
• 26:03
  Speaker 5: do that. But it's the mindset that I think we
• 26:05
  Speaker 5: have to get over.
• 26:06
  Speaker 1: Because I can tell you why, Junior. I can tell
• 26:10
  Speaker 1: you why. It hasn't been done because society has conditioned
• 26:13
  Speaker 1: us to always try to outdo. So because we're always
• 26:17
  Speaker 1: trying to outdo one another... If you start a production company,
• 26:21
  Speaker 1: then I want to start one too. Instead of me saying, okay, well,
• 26:26
  Speaker 1: let's do it together. I don't have to have the
• 26:28
  Speaker 1: same ownership of it, but let's just do it together
• 26:32
  Speaker 1: because unified is a lot more we can do. If
• 26:36
  Speaker 1: David Geffen and Jeffrey Katzenberg and Steven Spielberg can start DreamWorks,
• 26:43
  Speaker 1: what the hell makes you think that you can't? And
• 26:46
  Speaker 1: they didn't start it when they were broke. They were
• 26:49
  Speaker 1: already well off, very wealthy when they did that. But
• 26:53
  Speaker 1: that's a different mindset, right? When we're in these clubs,
• 26:58
  Speaker 1: everybody's competing with how many sparklers, how many bottles I
• 27:01
  Speaker 1: got coming. And that's cool. Enjoy the light. But in
• 27:05
  Speaker 1: order for you to do that, we also got to
• 27:07
  Speaker 1: make sure that we're doing right. The other thing was
• 27:11
  Speaker 1: most important was really allowing us to buy those bottles. Right.
• 27:14
  Speaker 1: Because I'm not saying don't enjoy. I'm not a Debbie Downer.
• 27:17
  Speaker 1: I'm not saying don't enjoy it because I definitely enjoy
• 27:19
  Speaker 1: my the fruits of my hard labor. But what I'm
• 27:24
  Speaker 1: just saying is it's just so important because if we're
• 27:27
  Speaker 1: able to do that, then that's not necessarily putting a dent.
• 27:34
  Speaker 1: in the kitty from that perspective. That's just us enjoying
• 27:37
  Speaker 1: having a great time. Actually, if you're doing it the
• 27:40
  Speaker 1: right way, you actually budget for your vacation like that.
• 27:45
  Speaker 1: Every year, I know exactly how much I'm gonna spend
• 27:48
  Speaker 1: on vacation every year. If you're doing it the right way,
• 27:52
  Speaker 1: that's how it really is supposed to be done. But
• 27:55
  Speaker 1: it's just this competitive thing. We're conditioned. But yet and still,
• 28:00
  Speaker 1: if you go to the Sun Valley Conference, those are
• 28:02
  Speaker 1: all the biggest companies and top executives in the world
• 28:06
  Speaker 1: who are competitors in the marketplace. But at this particular conference,
• 28:09
  Speaker 1: they're sharing information. But yet we get in the club
• 28:13
  Speaker 1: and don't speak to each other. Well, how does this
• 28:15
  Speaker 1: even make sense? It doesn't. It does not make sense.
• 28:19
  Speaker 1: So that's how.
• 28:21
  Speaker 3: And that's one of the reasons why we, why we
• 28:23
  Speaker 3: created InvestFest, right? Where it was like, just for that,
• 28:27
  Speaker 3: we can get 20,000 people here and have a vendor
• 28:30
  Speaker 3: marketplace and have it. And one aspect is people learning
• 28:34
  Speaker 3: from people like yourself. But I think the most beneficial
• 28:37
  Speaker 3: aspect is people that are networking with each other outside
• 28:39
  Speaker 3: and in the vendor marketplace and afterwards, because their relationships
• 28:43
  Speaker 3: is ultimately going to take you the furthest in life.
• 28:45
  Speaker 2: So, but Mr. Bridgman, I wanted to ask you a question.
• 28:49
  Speaker 3: You, um, had a very impressive portfolio of restaurants, obviously,
• 28:54
  Speaker 3: over 500, and, you know, was extremely, extremely wealthy and extremely,
• 29:00
  Speaker 3: extremely successful and had, you know, a mastery of that.
• 29:06
  Speaker 3: What is your thought process in liquidating your portfolio and
• 29:10
  Speaker 3: going into something totally different? How does that work? And
• 29:15
  Speaker 3: most people would be extremely scared to do that, right? Like,
• 29:19
  Speaker 3: Why did you do that and what was the inner
• 29:21
  Speaker 3: workings of doing that?
• 29:24
  Speaker 5: Well, you know, I talk about generational wealth and what
• 29:29
  Speaker 5: I did was I separated the restaurant business that we
• 29:35
  Speaker 5: still have, I separated the Coca-Cola business and and even
• 29:40
  Speaker 5: Ebony and Jet. Put them all in a, let's call
• 29:45
  Speaker 5: it a trust, because that's what it is. And that's
• 29:47
  Speaker 5: for the kids. That's something, you know, and we haven't
• 29:51
  Speaker 5: talked about getting involved in Coca-Cola here in Atlanta, but,
• 29:54
  Speaker 5: you know, Why did you do that? Because when I
• 29:57
  Speaker 5: looked around at the people that were bottlers, and there's
• 30:01
  Speaker 5: not a lot of them, there's only 64 in the
• 30:03
  Speaker 5: whole United States, but there were people that were fourth
• 30:07
  Speaker 5: and fifth generation, people that had been doing that for
• 30:10
  Speaker 5: over 100 years. And I won't tell you how much
• 30:13
  Speaker 5: money you make on a bottle of soda, so you
• 30:16
  Speaker 5: don't need to know that. But anyway, so I separated that.
• 30:22
  Speaker 5: for them generationally. That's something that can be passed down
• 30:25
  Speaker 5: and down and down. And everything else that I look
• 30:28
  Speaker 5: at is over here. So if there is a risk
• 30:32
  Speaker 5: or you're taking a risk or you're investing in something
• 30:34
  Speaker 5: or helping somebody do something, it has no effect on
• 30:39
  Speaker 5: where you are today. And so that's what I'll do
• 30:42
  Speaker 5: in helping somebody or saying that this makes sense. It'll
• 30:47
  Speaker 5: all come out over on this side, not over on
• 30:49
  Speaker 5: that side. I just have a follow-up for Rich. You
• 30:52
  Speaker 5: said something that was extremely insightful with the car analogy.
• 30:56
  Speaker 5: That's pretty ill.
• 30:56
  Speaker 3: Like, no window park, no window to accelerate, no window
• 30:59
  Speaker 3: to cruise. That's pretty good information. You said something that
• 31:03
  Speaker 3: was key. You said you wanted to get off of
• 31:06
  Speaker 3: LeBron's payroll as soon as possible. And, you know, people
• 31:09
  Speaker 3: create their own narratives, but a lot of people might say, well,
• 31:13
  Speaker 3: it's easy for him to become the number one agent
• 31:15
  Speaker 3: because LeBron, right?
• 31:17
  Speaker 2: LeBron's his guy. But I know you always... It's actually harder.
• 31:20
  Speaker 2: Go ahead. So.
• 31:21
  Speaker 3: Talk about that and talk about why it was essential
• 31:26
  Speaker 3: for you to get off of his payroll. Why is
• 31:28
  Speaker 3: it essential for you to not be in that type
• 31:32
  Speaker 3: of role?
• 31:33
  Speaker 1: Well, it was essential, number one, because prior to, I've
• 31:37
  Speaker 1: always been someone who had a pretty entrepreneurial spirit. My
• 31:45
  Speaker 1: dad was a store owner. We made our money selling beer, wine,
• 31:49
  Speaker 1: and cigarettes. I grew up. playing people lottery numbers at
• 31:53
  Speaker 1: seven and eight years of age, right? I learned about
• 31:56
  Speaker 1: marketing by selling now laters and Jolly Joe's and, and
• 32:00
  Speaker 1: cherry clans. And, you know, that's how I buy what
• 32:04
  Speaker 1: you came and bought in the store. This is how
• 32:06
  Speaker 1: I learned about supply and demand. So when my dad
• 32:08
  Speaker 1: was sent us back to the wholesale store, he was
• 32:11
  Speaker 1: sitting in the car and let me go in and
• 32:13
  Speaker 1: pick the candy. I couldn't pick the candy that I wanted.
• 32:17
  Speaker 1: I had to pick the candy that the people would buy.
• 32:18
  Speaker 1: Cause that's how we made our, our money. And so
• 32:21
  Speaker 1: through that, I learned customer service and the importance of
• 32:24
  Speaker 1: customer service, right? Because the community is the job. We
• 32:29
  Speaker 1: gotta make sure that we take care.
• 32:31
  Speaker 5: Of the community.
• 32:32
  Speaker 1: And so that allowed me to have that mindset. But
• 32:37
  Speaker 1: to answer your question, LeBron wasn't obligated to do anything
• 32:41
  Speaker 1: for me or anybody else. The only person he was
• 32:43
  Speaker 1: actually obligated to do something for was Gloria James. That's
• 32:47
  Speaker 1: his mother, right? I was so happy. that I wasn't
• 32:51
  Speaker 1: his brother, like blood brother. Because at that point, there's
• 32:56
  Speaker 1: a guilt that comes into play, right? And if I
• 32:59
  Speaker 1: screw up, can you really fire your brother, right? And
• 33:07
  Speaker 1: so for me, once I got my opportunity, and when
• 33:11
  Speaker 1: I got the call, when my mother called me and said,
• 33:14
  Speaker 1: you have a check in the mail, And when you
• 33:16
  Speaker 1: guys read my book, some of this is in there,
• 33:20
  Speaker 1: but when my mother called me and said, you have
• 33:22
  Speaker 1: a check in the mail, I wasn't expecting that. I
• 33:25
  Speaker 1: didn't even know how to really read a check. My
• 33:27
  Speaker 1: mother showed me how to do so. But when I
• 33:31
  Speaker 1: called and asked what my job was, he said he
• 33:34
  Speaker 1: didn't know. He said, I actually don't have a position
• 33:37
  Speaker 1: for you at all. I don't have one. And I
• 33:41
  Speaker 1: don't know when I'm going to get one. So now
• 33:44
  Speaker 1: I got two choices. I'm definitely not a yes man.
• 33:48
  Speaker 1: And I love to shop. So I like to go
• 33:50
  Speaker 1: to the, I can't wait on you to go to
• 33:51
  Speaker 1: the mall for when I get to go to the mall.
• 33:53
  Speaker 1: That's not going to ever happen. So because of that,
• 33:58
  Speaker 1: I did the things that I created value. I was
• 34:02
  Speaker 1: everything from party promoter before he was even able to party, stylist, jeweler,
• 34:11
  Speaker 1: you know, until one day in the Nike meeting, He
• 34:15
  Speaker 1: asked me, what did I think? And it's Phil Knight,
• 34:18
  Speaker 1: it's Charlie Denson, it's Len Merritt, it's all the top
• 34:21
  Speaker 1: executives at Nike. And now I'm saying, well, I'm not
• 34:26
  Speaker 1: guessing here. This is what I know because I've had
• 34:28
  Speaker 1: every shoe that ever came out since 1989, whatever it was.
• 34:32
  Speaker 1: And so I took the floor. Well, that led to
• 34:34
  Speaker 1: me getting a job at Nike because they seen I
• 34:37
  Speaker 1: had value. So when I was there, I learned cut
• 34:41
  Speaker 1: and sew. I learned all the legal aspects of it.
• 34:44
  Speaker 1: I learned the footwear business. I learned the marketing business
• 34:46
  Speaker 1: because marketing is not endorsements. Marketing is storytelling. Endorsements are endorsements.
• 34:54
  Speaker 1: The best marketing companies in the world, they never tell
• 34:56
  Speaker 1: you a price. but they show you the product, but
• 34:59
  Speaker 1: they never tell you the price. Honda's going to say,
• 35:01
  Speaker 1: this is the Civic 2023 with leather. It costs you 36,000.
• 35:06
  Speaker 1: That's a different, that's a sales thing. That's a totally
• 35:09
  Speaker 1: different thing. And so I wanted to make sure that
• 35:13
  Speaker 1: I was always creating value. And I also didn't want,
• 35:16
  Speaker 1: because in life, you know, you can't, you can only
• 35:19
  Speaker 1: ride the horse for so long. Can't get comfortable riding
• 35:23
  Speaker 1: somebody else's horse. That don't make sense. So you have
• 35:26
  Speaker 1: to continue to create value. So that's what I did.
• 35:29
  Speaker 1: And then the reason why I went into the agent
• 35:32
  Speaker 1: business is because I felt like our young men were,
• 35:36
  Speaker 1: the game was being monopolized by people that really didn't
• 35:40
  Speaker 1: understand them as people. They saw them as commissions, but
• 35:44
  Speaker 1: they didn't see them as people. And so if I
• 35:47
  Speaker 1: only see you as a check, I'm not going to
• 35:49
  Speaker 1: invest in you, right? When the talent runs out, I
• 35:53
  Speaker 1: lose your number and I get the next talent. well,
• 35:56
  Speaker 1: that didn't sit well with me. And so I wanted
• 35:59
  Speaker 1: to create something that they can go to sleep at
• 36:01
  Speaker 1: night knowing that, you know what, I can trust Rich
• 36:05
  Speaker 1: and I can trust the people that Rich is putting
• 36:06
  Speaker 1: around me because my integrity and my respect for you
• 36:11
  Speaker 1: as a person won't allow me to do anything that
• 36:14
  Speaker 1: would be detrimental to your future and damn sure not
• 36:18
  Speaker 1: going to do anything that is going to have you
• 36:20
  Speaker 1: look at me a certain way because where I come from,
• 36:23
  Speaker 1: there's a major consequence for that. But in the business
• 36:26
  Speaker 1: I'm in, those consequences don't exist. But I didn't know
• 36:30
  Speaker 1: any different. You know, we was just trying to survive
• 36:32
  Speaker 1: the day, sometimes the hour, depending on what's going on
• 36:34
  Speaker 1: around the corner. So I brought that energy and those
• 36:40
  Speaker 1: pitfalls to an industry that didn't know that. And they
• 36:42
  Speaker 1: didn't know our children. And so even currently today, people
• 36:47
  Speaker 1: talk about it's easier with LeBron. Oh, he just did
• 36:50
  Speaker 1: this because LeBron. They must don't know what the word
• 36:53
  Speaker 1: envy means. They must understand how hard it is to
• 36:57
  Speaker 1: walk in a room and people tell you, oh, because
• 37:00
  Speaker 1: you represent this person, I don't think you're the right
• 37:03
  Speaker 1: person for me. Even though he's built this big portfolio
• 37:07
  Speaker 1: and I have a ton of other guys that's built
• 37:09
  Speaker 1: great portfolios as well and done well. But for some reason,
• 37:14
  Speaker 1: it's just hard for people to do business with people
• 37:17
  Speaker 1: that look like, I'm not going to say for people.
• 37:20
  Speaker 1: I'm going to say it's hard for our people to
• 37:23
  Speaker 1: do business with our people at a high level and
• 37:26
  Speaker 1: respect them and not cheat them and not try to say,
• 37:30
  Speaker 1: I gave you the opportunity so you should work for free. No,
• 37:34
  Speaker 1: I gave you the opportunity. You're doing a great job.
• 37:37
  Speaker 1: I'm going to pay you what you deserve. And I
• 37:40
  Speaker 1: talk to my guys about this all the time. And
• 37:42
  Speaker 1: for anybody else out there, somebody out there is doing
• 37:45
  Speaker 1: something for you. I don't care if they're your sister, cousin.
• 37:49
  Speaker 1: I don't care if they're on a drug. I don't
• 37:50
  Speaker 1: care about any of that. How you treat people matters.
• 37:55
  Speaker 1: It just really does. And I want to pay you
• 37:58
  Speaker 1: top dollar. I want to pay you more, right? Because
• 38:02
  Speaker 1: when we go to Van Cleef and Louis and Chanel,
• 38:05
  Speaker 1: they're not giving us no discount. And we're not asking
• 38:08
  Speaker 1: for one. We want you to know how much we
• 38:10
  Speaker 1: pay for it. So when I, you know, but when
• 38:13
  Speaker 1: I come to you with my labor to wash your
• 38:14
  Speaker 1: car and I wash it and you had the juice
• 38:17
  Speaker 1: in the cup holder and all this stuff, but you
• 38:20
  Speaker 1: want to, and you don't even want to tip me. Well,
• 38:23
  Speaker 1: that don't work. You get what I'm saying? And so
• 38:26
  Speaker 1: I instill that in my clients from day one. When
• 38:29
  Speaker 1: we go to a restaurant, I pay attention. I watch
• 38:31
  Speaker 1: how they call a waiter or a waitress. Ain't no, hey, yo, no, no,
• 38:35
  Speaker 1: excuse me. Can I have, thank you. And then when
• 38:39
  Speaker 1: that bill comes, we're going to make sure they get 25%.
• 38:41
  Speaker 1: You understand what I'm saying? That's how it should be.
• 38:46
  Speaker 1: And if it's like that, when you think about the
• 38:48
  Speaker 1: ecosystem for an athlete, an athlete need a barber. They
• 38:52
  Speaker 1: need a handyman. They need a nanny. They need a driver.
• 38:56
  Speaker 1: They need a, their wives need a makeup artist and
• 38:59
  Speaker 1: a cosmetologist. You know, they need all these things. This
• 39:03
  Speaker 1: is the ecosystem of the athlete. There's jobs available. But
• 39:08
  Speaker 1: the reason why we don't care to do them in
• 39:10
  Speaker 1: abundance is because how you treat somebody. If you treated
• 39:14
  Speaker 1: them differently, then, and you explain to them, hey, You're
• 39:19
  Speaker 1: not going to get a seat at the table when
• 39:22
  Speaker 1: we're at the club. That ain't what this is about.
• 39:25
  Speaker 1: But I actually need you to do this. It's a
• 39:27
  Speaker 1: consistent pay for at least 12 years for the right person.
• 39:33
  Speaker 1: At least. And while you're doing that, you build your clientele. Right?
• 39:37
  Speaker 1: Because there's a draft every year. People coming in. A
• 39:40
  Speaker 1: real estate agent. My guy's just renting places in every
• 39:43
  Speaker 1: city around America.
• 39:44
  Speaker 4: But....
• 39:46
  Speaker 1: It's not many. You get what I'm saying? And if
• 39:48
  Speaker 1: it is, they show up late. The habits matter, right?
• 39:54
  Speaker 1: And so this is very important. And I tell my
• 39:57
  Speaker 1: own siblings this. There's an ecosystem. Find a lane. If
• 40:02
  Speaker 1: you find a lane, you got an opportunity. If you
• 40:05
  Speaker 1: got an opportunity, then you make it work from there.
• 40:10
  Speaker 1: One plus one should equal five by the time we
• 40:12
  Speaker 1: get done with this.
• 40:15
  Speaker 2: That was a lot.
• 40:15
  Speaker 1: Rich?
• 40:16
  Speaker 2: That's a lot.
• 40:18
  Speaker 4: As you were naming the athlete's ecosystem, I saw Mr.
• 40:21
  Speaker 4: Bridgman and he's thinking to himself, man, I ain't had
• 40:23
  Speaker 4: none of that.
• 40:27
  Speaker 2: But Mr.
• 40:27
  Speaker 4: Bridgman, you talked about generational wealth, which is an interesting concept, right?
• 40:32
  Speaker 4: Because we haven't seen generations of wealth in our community.
• 40:36
  Speaker 4: And so I know with your acquisitions, Jet, Ebony, right?
• 40:43
  Speaker 4: How do you go about approaching it? to sustainable wealth, right?
• 40:47
  Speaker 4: Because you have your kids and I know the kids,
• 40:49
  Speaker 4: some of the kids kind of run.
• 40:50
  Speaker 2: Some of those businesses.
• 40:51
  Speaker 4: So how do you approach mergers and acquisitions with the
• 40:54
  Speaker 4: intent of this is the succession plan for my legacy?
• 40:58
  Speaker 5: Well, I think the first thing you have to do
• 41:01
  Speaker 5: is you have to have the next generation involved and
• 41:05
  Speaker 5: you have to have them talking about it and they
• 41:10
  Speaker 5: have to see the importance, and they talked about earlier,
• 41:15
  Speaker 5: of hard work. And, you know, one of the things that,
• 41:20
  Speaker 5: one of the great books that I really like, Malcolm Gladwell,
• 41:23
  Speaker 5: in one of his books he talks about, in order
• 41:25
  Speaker 5: to be really proficient at something, you have to work
• 41:29
  Speaker 5: at it for a thousand hours.
• 41:31
  Speaker 2: And I thought about that, and I thought, well, you know,
• 41:35
  Speaker 2: I've put in.
• 41:36
  Speaker 5: Over 10,000 hours playing basketball before I got to the pros.
• 41:43
  Speaker 5: And so when I got into the restaurant business, what
• 41:47
  Speaker 5: makes me think that I should be good at it
• 41:52
  Speaker 5: without putting the work in? And I think a lot
• 41:54
  Speaker 5: of times, and I see this with athletes, they think
• 41:58
  Speaker 5: because I got to be a great player that I
• 42:00
  Speaker 5: should go in as the CEO or the executive vice
• 42:04
  Speaker 5: president without putting the work in. So that's the first
• 42:08
  Speaker 5: thing I stress to my kids is you have to understand.
• 42:11
  Speaker 5: And I have three kids and all of them had
• 42:14
  Speaker 5: to go to college. They all had to get an
• 42:16
  Speaker 5: MBA and they all had to go to work for
• 42:18
  Speaker 5: somebody else before they got involved with what we were doing.
• 42:22
  Speaker 5: And not, they didn't have to come to work. It
• 42:25
  Speaker 5: was their decision if they wanted to come get involved
• 42:28
  Speaker 5: with what we're doing. And The way things worked out,
• 42:32
  Speaker 5: one of them runs the restaurant side, one of them
• 42:34
  Speaker 5: works with the Coca-Cola side, and my daughter runs the
• 42:36
  Speaker 5: Ebony Jet side. But be that as it may, we
• 42:40
  Speaker 5: meet as a family.
• 42:42
  Speaker 1: We're not going to clap for that? That's crazy.
• 42:50
  Speaker 5: So what they'll tell you is I don't do anything anymore,
• 42:52
  Speaker 5: which is about correct. But we meet as a family
• 42:57
  Speaker 5: and we talk about the next generation, their kids. I've
• 43:02
  Speaker 5: got five grandkids. So you have to start planning for
• 43:08
  Speaker 5: what's going to happen as they get older. And that's
• 43:12
  Speaker 5: what I've seen, especially in the Chinese culture and the
• 43:15
  Speaker 5: other people that aren't like us, look like us in
• 43:19
  Speaker 5: the room. They think about those things or we just
• 43:22
  Speaker 5: think about getting gratification today.
• 43:26
  Speaker 2: And we need to.
• 43:28
  Speaker 5: Focus on The long term, and we need to focus on,
• 43:31
  Speaker 5: you said, working together, because as I said earlier in
• 43:36
  Speaker 5: some of the presentations, if we just did business with
• 43:41
  Speaker 5: each other, whenever we could, there'd be, I don't know
• 43:45
  Speaker 5: how many millionaires in this room today, but we, for
• 43:49
  Speaker 5: some reason, don't want to do that.
• 43:52
  Speaker 3: So, Rich, I want to ask you about your collaboration
• 43:57
  Speaker 3: and partnership with UTA. We have a great relationship with UTA,
• 44:01
  Speaker 3: and I know that was something that was done a
• 44:03
  Speaker 3: few years ago.
• 44:05
  Speaker 2: So what's your thought process.
• 44:06
  Speaker 3: In doing that, and how does the dynamics of that
• 44:10
  Speaker 3: relationship unfold into what it is today?
• 44:15
  Speaker 1: Well, I had two choices. I owned all my business.
• 44:20
  Speaker 1: I wasn't looking for a partner. But what was happening
• 44:24
  Speaker 1: was the athletes' desires was changing. And so I didn't
• 44:28
  Speaker 1: want to be somebody that's just, you know, trying to
• 44:32
  Speaker 1: figure it out in a cookie cutter way. And so
• 44:35
  Speaker 1: I had two choices. I could either go raise a
• 44:37
  Speaker 1: couple hundred million dollars, then go and find the expertise
• 44:43
  Speaker 1: for the departments that I needed to grow in, or
• 44:48
  Speaker 1: I can find a partner that actually came with that expertise.
• 44:51
  Speaker 1: And so UTA was actually that. They were the partner
• 44:55
  Speaker 1: that came with that expertise. And so I was just
• 44:57
  Speaker 1: trying to do what was best for the clients. Like
• 45:01
  Speaker 1: for me, I'm always thinking about I don't want to
• 45:04
  Speaker 1: be the agency of yesterday. I don't want to be
• 45:08
  Speaker 1: too happy about what's happening today. I'm really trying to
• 45:11
  Speaker 1: build the agency of tomorrow and figure out what that
• 45:14
  Speaker 1: looks like. And so that was my decision with UTA.
• 45:18
  Speaker 3: So UTA, for anybody that's not, I should have said this,
• 45:20
  Speaker 3: United Talent Agency is one of the top Hollywood talent agencies.
• 45:24
  Speaker 2: They represent actors. Some of the.
• 45:27
  Speaker 1: Biggest actors in the world, writers, directors, you know, in music,
• 45:32
  Speaker 1: Carol G, Bad Bunny, 21, Post Malone, and, you know.
• 45:36
  Speaker 2: Earn Your Leisure.
• 45:37
  Speaker 1: Yeah, Earn Your Leisure.
• 45:38
  Speaker 2: By the way.
• 45:39
  Speaker 1: Yeah, and comedy, Issa Rae, Kevin Hart, you know. Um, but,
• 45:44
  Speaker 1: and a ton of others, right? Timothy Chalamet, Jonas, you know,
• 45:48
  Speaker 1: a lot of people. And again, that was my thing
• 45:51
  Speaker 1: because my clients, they don't need all those toys in
• 45:55
  Speaker 1: the toy box, but if you want to play with,
• 45:57
  Speaker 1: you know, like I want to have enough toys for
• 46:00
  Speaker 1: you to actually play with, whether you choose one or
• 46:02
  Speaker 1: 100 of them, I wanted to be prepared to have that.
• 46:05
  Speaker 1: And for me, again, don't box me in. I'm, I'm
• 46:10
  Speaker 1: not an agent. I'm, what I would say, I'm a
• 46:16
  Speaker 1: innovator that have agent capabilities. And so I never wanted
• 46:19
  Speaker 1: to be boxed into just being an agent, although I
• 46:22
  Speaker 1: don't plan on stopping anytime soon, even though they want
• 46:25
  Speaker 1: to push me out to be an owner of a team.
• 46:28
  Speaker 1: I have no desire to own a team at all.
• 46:30
  Speaker 1: I don't have enough money to own a team and
• 46:31
  Speaker 1: I don't like the front. So with that being said,
• 46:36
  Speaker 1: I just wanted to continue to grow. And it was
• 46:40
  Speaker 1: really about the athlete and their families.
• 46:43
  Speaker 4: Rich, I want to follow up, and maybe for both
• 46:45
  Speaker 4: of you. So UTA is here in Atlanta, so shout
• 46:48
  Speaker 4: out to UTA, and shout out to Atlanta for being here.
• 46:50
  Speaker 1: Yeah, UTA being in Atlanta was something that was very
• 46:53
  Speaker 1: important to me.
• 46:55
  Speaker 2: Exactly.
• 46:55
  Speaker 4: So when we visited, it was impressive because you were
• 46:58
  Speaker 4: able to combine two things, what you do professionally, but
• 47:01
  Speaker 4: your passion for ultimate investments, which is art.
• 47:06
  Speaker 1: So when we visit the.
• 47:08
  Speaker 4: Showroom and the offices, It's nothing but black art throughout
• 47:12
  Speaker 4: the entire building. So talk about your love for art
• 47:16
  Speaker 4: and talk about the intentionality of what you did behind that.
• 47:20
  Speaker 1: Yeah, so I'm on the board of LACMA, and I'm
• 47:25
  Speaker 1: on the acquisition committee with Elaine Nguyen, and I'm on
• 47:30
  Speaker 1: the education committee because I wish that I actually paid
• 47:34
  Speaker 1: attention in art class instead of playing Tunk or whatever.
• 47:38
  Speaker 1: falling asleep, you know? But today, I wish that kids
• 47:45
  Speaker 1: understood the importance of art back then. And I wish
• 47:50
  Speaker 1: I knew who Kerry James Marshall was and who Sam
• 47:53
  Speaker 1: Gilliam was and who Barclay Hendrix was back then. Today,
• 47:58
  Speaker 1: I own some Atlanta artists. You know, Alfred Conte is
• 48:01
  Speaker 1: an artist I own, and I own over 100 works.
• 48:04
  Speaker 1: But if you go across the Atlanta office or the
• 48:07
  Speaker 1: LA office, there's a ton of African American artists, both
• 48:11
  Speaker 1: figurative and abstract. And I teach my kids today and
• 48:15
  Speaker 1: my clients as they come into the league, one of
• 48:18
  Speaker 1: the things I do is I take them around to
• 48:21
  Speaker 1: these museums and these galleries to help them better understand
• 48:24
  Speaker 1: that there's more areas to park your finances in than
• 48:28
  Speaker 1: just clothes and shoes and cars, because all those are
• 48:34
  Speaker 1: depreciating assets, right? You don't need 60 pair of jeans,
• 48:38
  Speaker 1: although we all had them, but you don't need that.
• 48:41
  Speaker 1: And so I get them to invest. You know, I
• 48:44
  Speaker 1: have one of my favorite pieces I have is an
• 48:47
  Speaker 1: Ernie Barnes piece that I couldn't tell you when I
• 48:52
  Speaker 1: bought it, what price it was and what, and I'm
• 48:53
  Speaker 1: not looking to sell. I'm just saying. And so I
• 48:56
  Speaker 1: get my clients to, a lot of my clients are
• 48:59
  Speaker 1: into art now. A lot of them are into different investments.
• 49:04
  Speaker 1: And so it's, you know, it's, It's one player at
• 49:06
  Speaker 1: a time, but it's happening. And so the earlier we
• 49:10
  Speaker 1: can do that, the better. So I just try to
• 49:12
  Speaker 1: continue educating. I don't know it all. I don't pretend
• 49:15
  Speaker 1: to know it all, but I just try to continue.
• 49:17
  Speaker 2: And Mr.
• 49:17
  Speaker 1: Bridgeman don't know. I'm going to have a standing call
• 49:19
  Speaker 1: with him once a month going forward because I got
• 49:23
  Speaker 1: to pick his brain. I'm going to be on him
• 49:24
  Speaker 1: like a chief suit. He's going to have no idea,
• 49:27
  Speaker 1: you know, but it's just important. It is important. And
• 49:30
  Speaker 1: so if you guys want to get into other things,
• 49:34
  Speaker 1: you know, I tell my guys, when you're on the road,
• 49:36
  Speaker 1: you're in Detroit, when you're in San Francisco, when you're
• 49:38
  Speaker 1: in New All these places have galleries and all these
• 49:41
  Speaker 1: places have museums. Don't spend all your time at a
• 49:44
  Speaker 1: hookah bar. Don't spend all your time playing Call of
• 49:47
  Speaker 1: Duty in your room. Get out and go to these
• 49:50
  Speaker 1: galleries and spend some time there and learn some things.
• 49:53
  Speaker 2: We thank you, Rich.
• 49:57
  Speaker 5: I'm only about 40 years too late. Because we didn't
• 50:01
  Speaker 5: have anybody like him when I was coming up. And
• 50:04
  Speaker 5: so you kind of get to appreciate art. And anytime
• 50:07
  Speaker 5: anybody comes in our office today, I take them down
• 50:10
  Speaker 5: a hallway and say, I want to show you this.
• 50:12
  Speaker 2: And what is it?
• 50:13
  Speaker 5: There's four, not quite murals, but there are four paintings
• 50:21
  Speaker 5: done by Nelson Mandela. And he drew them of when
• 50:27
  Speaker 5: he was in prison. And there are various pictures of
• 50:32
  Speaker 5: parts of the prison that he was in. And then
• 50:35
  Speaker 5: underneath it is the actual photo of the prison. And
• 50:39
  Speaker 5: he signed every one, and they're documented that it was
• 50:42
  Speaker 5: done by him. And I make sure that everybody sees
• 50:45
  Speaker 5: that when they come in. And the other thing that
• 50:46
  Speaker 5: I make sure people see, I have a picture of
• 50:49
  Speaker 5: the Little Rock Nine. I mean, it's a drawing, but
• 50:53
  Speaker 5: it's autographed by each one of the nine people that
• 50:57
  Speaker 5: were involved in the Little Rock Nine.
• 50:59
  Speaker 2: And now you can't.
• 51:01
  Speaker 5: Get that because they're not all alive, but I make
• 51:03
  Speaker 5: sure that everybody see because the mindset, what that does
• 51:07
  Speaker 5: is just changes the mindset, changes everything when people come
• 51:14
  Speaker 5: in and see that in the office.
• 51:16
  Speaker 1: But I'll say this, society didn't teach us that that
• 51:20
  Speaker 1: was cool. The same reason why our kids don't play soccer.
• 51:23
  Speaker 1: It wasn't in our schools. We only played the sports
• 51:26
  Speaker 1: that gave us fortune or fame. And so how do we,
• 51:30
  Speaker 1: you know, we have to regurgitate a lot of things
• 51:32
  Speaker 1: that was built around us, but we can, you know,
• 51:37
  Speaker 1: it's not too late to start.
• 51:39
  Speaker 3: So Rich, my last question for you is walk us
• 51:43
  Speaker 3: through what it looks like actually negotiating contracts with teams
• 51:47
  Speaker 3: or negotiating contracts with Nike or Adidas for your clients.
• 51:52
  Speaker 3: You represent some of the top clients that's ever done it.
• 51:56
  Speaker 3: Walk us through the boardroom.
• 51:58
  Speaker 1: Well, just in case there's some people in here that
• 52:01
  Speaker 1: work at rival agencies, I'm not going to give you
• 52:05
  Speaker 1: the secret sauce because McDonald's don't give us the secret
• 52:08
  Speaker 1: sauce of the Big Mac, so I'm not going to
• 52:10
  Speaker 1: give you that. But what I will say, I will
• 52:12
  Speaker 1: walk you through. Most people think that You go into
• 52:18
  Speaker 1: a room and you yell and scream and you get
• 52:20
  Speaker 1: something done. That's not how it works. The player and
• 52:25
  Speaker 1: the agent has a job to do. We both have
• 52:29
  Speaker 1: a job to do. The player's job is to allow
• 52:33
  Speaker 1: me to go in and have some type of leverage,
• 52:36
  Speaker 1: whether that's through character, because nowadays your character has to
• 52:43
  Speaker 1: match your talent, right? When the shit get bigger than
• 52:46
  Speaker 1: the cap, And I said this on another podcast, but
• 52:49
  Speaker 1: I'm saying it today. They're going to get rid of
• 52:51
  Speaker 1: the cap, right? It's just how it is. But what
• 52:55
  Speaker 1: you're going to start to see now going forward is
• 52:57
  Speaker 1: you're going to start to see the half and the
• 52:59
  Speaker 1: half knots in our league because we're basically at what
• 53:01
  Speaker 1: they call a soft, hard cap, which is a very
• 53:04
  Speaker 1: tough thing. So the middle class, which is happening in society,
• 53:08
  Speaker 1: they're removing the middle class and you're going to have
• 53:11
  Speaker 1: the lower class or you're going to have the upper class, right?
• 53:14
  Speaker 1: It's the same thing happening in sports. And so now
• 53:16
  Speaker 1: more than ever, guys have to come in ready on
• 53:21
  Speaker 1: all fronts. Character, professionalism, approach, right? Willingness to listen, and
• 53:28
  Speaker 1: more importantly, starring in your role. I understand you was
• 53:32
  Speaker 1: a star player on your high school team. I understand
• 53:35
  Speaker 1: your parents think you're the best player in the world
• 53:38
  Speaker 1: and they only live in your world. But let me
• 53:40
  Speaker 1: tell you what the reality of it is, right? And
• 53:43
  Speaker 1: so now, as I'm going in there, I don't need
• 53:46
  Speaker 1: you to average 25 points to get you 25 points
• 53:49
  Speaker 1: type money, right? Because everybody's situation is different. If your
• 53:54
  Speaker 1: team doesn't have any cap space, but your value to
• 53:58
  Speaker 1: the team warrants them to keep you around, then we
• 54:01
  Speaker 1: don't need, I don't need, you can, Tristan Thompson, average
• 54:05
  Speaker 1: 6.6 rebounds, he got $ 82 million, it's fully guaranteed. But ultimately,
• 54:13
  Speaker 1: I have to be in a position to where I
• 54:15
  Speaker 1: can show that you have what they call gradually, you're
• 54:20
  Speaker 1: gradually getting better over the years. So don't score 25
• 54:23
  Speaker 1: in year one, 12 in year two and eight year three.
• 54:26
  Speaker 1: Now we're going backwards. But if you score eight, 12
• 54:30
  Speaker 1: and then 15 and you have great character, great professionalism,
• 54:35
  Speaker 1: great approach, then I put all that in the middle
• 54:38
  Speaker 1: and now we make the deal. Right. And now I
• 54:41
  Speaker 1: have to just, when I, When I first did, well,
• 54:45
  Speaker 1: there's several deals, but I'm also thinking this may be
• 54:48
  Speaker 1: your last deal. So now I have to do what's
• 54:51
  Speaker 1: best for you at all times. I can't do what's
• 54:54
  Speaker 1: best for me, right? And so whether that's me understanding that, okay,
• 55:01
  Speaker 1: I can't sit here and argue about this little item
• 55:04
  Speaker 1: for Darius Garland when I got $ 193 million guaranteed already
• 55:07
  Speaker 1: agreed upon. I can't make it about me. It's not
• 55:14
  Speaker 1: about my newspaper clippings. And that goes all the way
• 55:17
  Speaker 1: to a minimum deal, right? And so as I'm going
• 55:21
  Speaker 1: into each negotiation, number one, I'm never telling the player
• 55:25
  Speaker 1: a number. Because if I tell you a number, now
• 55:27
  Speaker 1: that number's stuck in your head. If we get there,
• 55:30
  Speaker 1: you're going to say, okay, I'm good. We may have
• 55:33
  Speaker 1: more room to go. So it takes a lot of planning.
• 55:37
  Speaker 1: I have to educate the families, right? Because there's a
• 55:42
  Speaker 1: thing called friendly fire. So I've had a situation where
• 55:46
  Speaker 1: I've had to move a client out the house, put
• 55:49
  Speaker 1: the for sale sign in the yard because I want
• 55:51
  Speaker 1: the team to think, oh, not only is he not
• 55:53
  Speaker 1: coming in this arena, he's not even in the city.
• 55:56
  Speaker 1: He's gone. I had to fly down and educate the
• 56:00
  Speaker 1: mom that when the owner's wife called, Do not talk
• 56:04
  Speaker 1: about whether you guys are anxious or whether you're excited
• 56:08
  Speaker 1: or whether you, if anything comes up about a contract, hey,
• 56:12
  Speaker 1: talk to Rich. I'm just mom, I'm in here frying
• 56:14
  Speaker 1: chicken for the grandkids, whatever the case may be. I
• 56:18
  Speaker 1: don't need you because, you know, we all have grandmothers.
• 56:22
  Speaker 1: Sunday morning when granny get out of church, she in
• 56:24
  Speaker 1: that kitchen, no one's allowed in there. You're not allowed
• 56:27
  Speaker 1: in my kitchen when I'm in negotiation. That's just how
• 56:30
  Speaker 1: it works.
• 56:32
  Speaker 5: If you want the best result, You know, I think
• 56:34
  Speaker 5: I can still get eight points a game.
• 56:37
  Speaker 1: I got you there. I got you there. And the
• 56:43
  Speaker 1: last thing it takes, it also takes patience. And the
• 56:46
  Speaker 1: one thing that you can't make a mistake as a
• 56:49
  Speaker 1: player in the NBA or any sport, comparisons are the
• 56:52
  Speaker 1: thief of joy. They just are. You cannot compare yourself
• 56:57
  Speaker 1: to what somebody else got. Somebody's situation is different. And
• 57:00
  Speaker 1: I don't advise you to do this in life as
• 57:02
  Speaker 1: well either. And so when you think about that, I'm
• 57:06
  Speaker 1: able to get things done at a high level if
• 57:08
  Speaker 1: you're able to have poise and patience. A negotiation has
• 57:13
  Speaker 1: no time clock on it. The negotiation starts when we
• 57:17
  Speaker 1: start it and it ends when you sign on the
• 57:19
  Speaker 1: dotted line. That could be one day, that could be
• 57:21
  Speaker 1: 10 days, that could be 100 days, right? And so
• 57:25
  Speaker 1: be patient. We've seen Lamar Jackson this year. He was patient.
• 57:29
  Speaker 1: Jalen Hurts signed his deal. Who came right after him?
• 57:33
  Speaker 1: Lamar Jackson. Why? Because he needed something that allowed him
• 57:37
  Speaker 1: to go in and say, hey, you guys telling me
• 57:40
  Speaker 1: what I'm not? Well, let me tell you what I am.
• 57:43
  Speaker 1: That's us helping each other. And so both of those
• 57:46
  Speaker 1: boys got their money this year. A lot of money, right?
• 57:50
  Speaker 1: That's important. It's a half billion dollars going to two
• 57:53
  Speaker 1: young men. That's important. And so, but the families are
• 57:57
  Speaker 1: so important. You have to educate the families and they
• 58:00
  Speaker 1: have to be willing to allow you to do your job. Right?
• 58:03
  Speaker 1: That's why you picked me. Because I'm not a tiptoe agent.
• 58:07
  Speaker 1: I don't walk on eggshells, and I'm not going to
• 58:09
  Speaker 1: over-explain myself, especially when I got the receipts. I got
• 58:14
  Speaker 1: all the receipts. I got $ 4 billion worth of receipts
• 58:17
  Speaker 1: right here.
• 58:18
  Speaker 4: Right?
• 58:20
  Speaker 2: Trust the process.
• 58:22
  Speaker 3: Make some noise for Junior Bridgman and Rich Paul, ladies
• 58:25
  Speaker 3: and gentlemen.
• 58:27
  Speaker 1: Thank you, guys.