02:13:35 · Jordi Hays, John Coogan, Alana Palmedo, Vincent Weisser
[02:13:35] S0: Oh. We we've actually [02:13:37] S1: mean, we've mapped this all out. We actually did this experience. And, yeah, I mean, it was, geopolitical near peer rivals, who you can guess. And then we had a bunch of, like, more satirical ones like Like our allies. People who block data centers. Like, we we love data centers, that whole thing. [02:13:52] S0: I mean, yeah. That that was that was early on. We would do things more like who were who were our allies. Like, if someone would mention private equity, we would just like, you know, clap. [02:14:02] S9: Yeah. Yeah. [02:14:02] S0: Yeah. Because that was like no one ever is like standing [02:14:04] S1: up for private equity. Short sellers. We hate short sellers. That type of thing, you know. [02:14:08] S3: Of course. [02:14:09] S1: Yeah. The yeah. We have a sheet, the terms and memes. [02:14:12] S0: How do you how do you think about scaling what you're doing, you know, in a in a craft business? It's it's exceeding it's been done. Scale's been done in in in the creative field with with with agencies, but oftentimes, it's at odds with great work. But how do you think about it?
02:14:12 · Jordi Hays, Will Mayer, John Coogan, Ben Thompson
[02:14:12] S0: How do you how do you think about scaling what you're doing, you know, in a in a craft business? It's it's exceeding it's been done. Scale's been done in in in the creative field with with with agencies, but oftentimes, it's at odds with great work. But how do you think about it? [02:14:34] S7: I think the the point of view, the way we work is different than most agencies. Like, I I have no desire to scale the agency much larger than it is today. The way in which we work was, like, you can either grow an agency really large, try to sell for a pretty shit multiple down the road, or what we started doing, like, five years ago was incubating startups. So only a third of our clients pay us in cash. The other two thirds pay us in some form of equity. We helped create a credit card company that is called Built Rewards, which you might have heard of. Yeah. Skye Uncle Jane. And I've done a bunch of stuff like that. So we're working on a ton of those with firms like Index and other venture firms. [02:15:08] S1: I found I found our actual [02:15:10] S0: our actual list of enemies. [02:15:11] S8: Did [02:15:11] S1: you? HVAC repairman. I don't know why they're on there. DJI drones, TikTok, Xi Jinping, under monetized podcasts, podcasts that don't have enough advertising. [02:15:22] S0: Which we solved. [02:15:23] S1: Leaf blowers. Yep. Fantasy football. Why did we put that on there? What's wrong with fantasy football?
02:15:23 · John Coogan, Jordi Hays, Will Mayer, Ben Thompson
[02:15:23] S1: Leaf blowers. Yep. Fantasy football. Why did we put that on there? What's wrong with fantasy football? [02:15:28] S0: This is from the original printout of Yeah. The TPN. So we we when we were doing the show early on, we would have these bits. Yeah. And if we had a good bit, we would write it down and we would have the sheet that we would update, I would just keep it here. And it would just remind me of, like, the kind of the core tenants as we were establishing the In in [02:15:44] S1: in allies, we had, job creators and bubbles. Very good. Very good. Yeah. Was a lot it was a lot of fun. Yeah. Good exercise for any brand. But, of course, everyone should call you first because you're clearly much better than most people. But fantastic progress. Thank you so much for coming on the show, breaking down for us. Jordy, anything else? [02:16:05] S0: Yeah. Yeah. Next time you're next time one of your Yeah. Founders is coming on flag it to us. Yeah. Be great. Excited to meet them. [02:16:11] S1: Yeah. We'll talk to them soon. [02:16:12] S0: Awesome. Sounds good. Have a [02:16:13] S7: good one, guys. Cheers. [02:16:14] S8: Have a [02:16:14] S1: good one. We'll talk to you soon. Goodbye. Ugh. The old term sheet, the size gong timeline, some personnel news. We haven't done one of those in a while. We don't really do the trade deals. The the the trading cards really took the place of the trade deals. But speaking of advertising, I want to watch this SK Hynix advertisement that Tyler dug up. Let's play this because I want your reaction, Jordy.
02:16:14 · John Coogan, Tucker Brown, Jordi Hays, Tyler, Rodrigo Liang
[02:16:14] S1: good one. We'll talk to you soon. Goodbye. Ugh. The old term sheet, the size gong timeline, some personnel news. We haven't done one of those in a while. We don't really do the trade deals. The the the trading cards really took the place of the trade deals. But speaking of advertising, I want to watch this SK Hynix advertisement that Tyler dug up. Let's play this because I want your reaction, Jordy. [02:16:37] S6: To It's true. Is an [02:16:40] S1: ad for SK Hynix? Okay. So we're also being exported. [02:16:50] S0: Exported. [02:16:51] S1: Exported. The time went by. He's dressed up as the chip, as the HPM? He's dressed up as the memory. Can't you just be cool? How have you been doing? Why is he frozen? Some prop comedy. I like it. [02:17:30] S0: Wow. We don't idea what that means, but I love SK Hynix. [02:17:33] S1: Yeah. We don't know how to [02:17:34] S5: make I think that ad has, like, 80,000,000 [02:17:36] S4: views. Wow. [02:17:39] S1: For good reason. It's a good ad. Makes me want HBM. Well, our next guest is live in the TVP at Ultradome with us. We have Tucker Brown from Compound Creative Holdings. He's the managing partner, friend of Packy McCormick, and we're very excited to have him here on the show. We're back. We're back. [02:17:56] S6: This is quite a set. [02:17:57] S1: Yes. Welcome. How was the rest of your trip to France? [02:18:01] S6: France was hot. Okay. It was Typical. It was productive though. I think, you know, you guys probably saw the energy that there was Yeah. In in [02:18:10] S1: Were you doing deals?
02:18:10 · John Coogan, Tucker Brown, Rodrigo Liang, Ben Thompson, Jordi Hays
[02:18:10] S1: Were you doing deals? [02:18:11] S6: I was trying to do deals. [02:18:12] S1: Okay. But when you do the deal, are you a back of the envelope guy or a napkin math guy? Which one are you pulling out? [02:18:19] S6: You gotta kinda combine, I guess, both. Both. [02:18:21] S4: Oh, I've [02:18:22] S8: gotta Is that just because, like, [02:18:23] S1: you're doing a DCF and it gets so big, you might have spread in comps on different tabs? [02:18:27] S6: It'd be I mean, yes, I'm sure you understand, you know, the the category that we're [02:18:31] S0: in. Yeah. [02:18:33] S6: You gotta be creative with the deals. Yeah. So Makes sense. [02:18:35] S1: Okay. So take us back. [02:18:37] S0: What was your first can? [02:18:38] S6: What was my first can? [02:18:40] S0: Yeah. When when did you go for the [02:18:41] S6: first It was this year. Okay. So I've been to film festival for [02:18:43] S0: a waited until it was, like, actually gonna be productive for you. Yeah. Exactly. I'm gonna make [02:18:48] S6: it worth the, you know, the money you gotta spend to get there. [02:18:50] S1: But but yeah. Take us back early in your career. How'd you get here? [02:18:53] S6: So I've been at CAA for fifteen years. You know, the talent agency that represents biggest entertainers in the world, athletes, and all that. I was at Evolution Mhmm. Which is our investment bank Mhmm. Working on large scale m and a, capital raising transactions across, you know, different categories. So that for a long time. I like the applause on that. [02:19:13] S0: For capital raising.
02:19:13 · Jordi Hays, Tucker Brown, John Coogan, Vincent Weisser
[02:19:13] S0: For capital raising. [02:19:15] S6: Yes. For yes. Worked with pro sports teams, worked with entertainment companies, TV, you know, TV studios [02:19:21] S1: Yeah. [02:19:21] S6: Production companies. [02:19:23] S0: When does that then get get tapped in for a transaction? [02:19:28] S6: Like So [02:19:28] S0: like Yeah. Like I can imagine if a sports team is gonna transact or or an emerging league or an athlete has a business that they wanna sell, like, am I am I in the right area? [02:19:42] S6: Yeah. It sort of it depends. Right? I mean, we're we don't work on tiny deals. We like to focus on larger scale transactions. So in sports, it's probably gonna be something 50,000,000 plus. Mhmm. So if you're putting a a check into a team and you got some money to spend and wanna buy a piece of a sports team, we'll facilitate that transaction. [02:19:57] S3: Okay. [02:19:58] S6: We'll work on, you know, team sales too. So entire teams that trade. One of the earliest deals that we did was the sale of the Sacramento Kings Civic Runway in 2011. How much That team's traded, by way, for $500,000,000. Yeah. [02:20:12] S0: So Good. Good much does [02:20:13] S1: that organization look like a standard investment bank? [02:20:16] S6: A lot like an like, I mean, it that's the service that we provide. I think the difference is we sit within CAA. So we have the strategic connectivity, the knowledge that might be a little different than other investment banks have. [02:20:26] S1: And and probably less public markets coverage? No Yeah.