00:32:15 · John Coogan, Jordi Hays
[00:32:15] S0: Yeah. [00:32:15] S1: That pissed a lot of people off. [00:32:16] S0: It did. [00:32:17] S1: But I would come home and I would have some Campbell's Mhmm. Campbell soup. It was fantastic. But you can imagine that the quality of the product was actually probably pretty bad back then. [00:32:27] S0: Mhmm. [00:32:28] S1: And I'm I would assume that it's gotten far worse. [00:32:30] S0: Mhmm. [00:32:31] S1: And so if we could get Justin in there to fix it up, get it back on track, I'd love to see that. [00:32:36] S0: I I I think it'd be very interesting. And it does not seem out of the realm of possibility at all. Justin's a fantastic entrepreneur, fantastic investor. Yes. Campbell Soup is a larger company. Market cap in the in the single digit billions, I believe. Campbell's [00:32:55] S1: 6,400,000,000. [00:32:56] S0: Yeah. But you get the right investors around the table. Obviously, it's a it's a very old company On lot of debt. [00:33:02] S1: 9,000,000,000 of sales. [00:33:05] S0: He's within striking distance there. I think he might be creeping up on them. One [00:33:12] S1: One broth container at a Yeah. [00:33:15] S0: Broth [00:33:15] S1: container. Box of broth at a time.
00:33:15 · Jordi Hays, John Coogan
[00:33:15] S1: container. Box of broth at a time. [00:33:16] S0: One box at a time. Ryan Peterson has a But we've been saying this for a long time that like that like when when when a large legacy company is has has done the the McKinsey consultant as CEO and they've done the the suit and they've done the okay. We hired the person who is internal and climbed the management ranks. It is interesting to try and put a founder of a smaller company just in the top job and say, go founder mode, try something new. But there's still not that much appetite for it. So what are you thinking? [00:33:52] S1: Ken Wattana says, why are all the a sixteen z partners tweeting about karmic retribution today? Yes. I saw a post from Alex Rampell saying karma is a swear word. Ryan Peterson has a pretty thought provoking theory. He says, conspiracy theory, I choose to believe that Marc Andreessen was funding Pablo Torre's Steve Ballmer investigation to get back at him for Internet Explorer. The ultimate punishment, banned from your own arena. [00:34:21] S0: That's a funny That's a funny karma moment. [00:34:25] S1: Yeah. Pablo Torre dropped a new investigation [00:34:28] S0: Mhmm.
00:34:28 · John Coogan, Jordi Hays
[00:34:28] S0: Mhmm. [00:34:29] S1: Into the Dodgers this morning. Mhmm. I was listening to it on the way into work, it is fantastic. He is one of the greatest podcast one of the greatest living podcasters, which pretty much includes almost all podcasters ever. Yeah. But really, really crazy story. Mark Walter, you know, setting up and Magic Johnson is involved in quite a big in in quite a big way. So highly recommend going and and checking out that story. [00:35:00] S0: Yeah. I'm excited for that to develop. Again, yeah. I mean, with any of these allegations, it'll probably take a year of investigation to get the actual results. But get ready to learn about insurance because the untangling a lot of these different organizations is very, very difficult. But it can be really interesting. What's Ryan Harmon working on these days? Before that [00:35:25] S1: Okay. We don't have to pull up this image, but has Burning Man fallen off? [00:35:30] S0: I have no idea. I think they had a rough go after the I've never been. I I think they had a rough go after the, the muddy one. There was one where it rained like crazy, and it was really, really muddy. And I think everyone was like, that was a lot. I don't know if I'm going back next year. And then also COVID might have switched things up for a little bit. I think they might have skipped one. So a couple different moments of like, okay. A lot of like like washing out certain people, but then also [00:36:02] S1: Yeah. It seems like it seems like it's it doesn't necessarily have a massive inflow of [00:36:07] S0: Mhmm.
00:36:07 · John Coogan, Jordi Hays
[00:36:07] S0: Mhmm. [00:36:07] S1: Net new young people into [00:36:10] S0: it. Yeah. [00:36:10] S1: And and the the Burning Man population is is just is aging up. [00:36:15] S0: Yeah. [00:36:15] S1: Which which doesn't mean that Burning Man, you know, hopefully for BlackRock, you know, this doesn't mean that [00:36:23] S0: Yeah. [00:36:23] S1: Burning Man's going away [00:36:24] S0: anytime We'd hate to see BlackRock City, obviously named after Black Rock, the financial institution. [00:36:29] S1: Yeah. Probably some sort of connect I would assume some But but yeah, some lab leaders are there Yeah. That I'm aware of. I have been informed that there are there are lab leaders there. Mhmm. You know, Sam and Greg have been all over the podcast circuit Sure. This week, so it's not them. But there are lab leaders there which which to me is funny because they hopefully aren't on X because it would be hard to be properly [00:37:00] S0: social media platform? [00:37:01] S1: Yes. Okay. You can imagine, you know, you're camped out in the desert. The whole purpose is to like do nothing and just, you know, whatever they do out there. [00:37:11] S0: Yeah. [00:37:11] S1: And then it'll be a little bit jarring, I think, coming back Oh, and seeing the updates. [00:37:18] S0: Yeah. Anyways If Burning Man wants to survive, I think that they should probably host it in New York, switch it up, invite only, maybe get Sorkin on stage interviewing CEO. Something a lot more like deal book Yeah. Would probably work for for, like, the future there. That would be something that I would wanna Yeah.
00:37:18 · John Coogan, Jordi Hays
[00:37:18] S0: Yeah. Anyways If Burning Man wants to survive, I think that they should probably host it in New York, switch it up, invite only, maybe get Sorkin on stage interviewing CEO. Something a lot more like deal book Yeah. Would probably work for for, like, the future there. That would be something that I would wanna Yeah. [00:37:37] S1: And it would make the BlackRock connection make more sense. [00:37:40] S0: Exactly. Yeah. It was always a little you had to squint to understand why is BlackRock involved with Burning Man. But if they if they held it in Manhattan with just financial leaders, geopolitical leaders and it was just more like one on one conversations [00:37:56] S1: About global markets. [00:37:57] S0: With a with a legendary investigative journalist and a and a news anchor who everyone really respects. And it was invite only and then the videos could go out on the Internet. Like that might be a little bit more up my alley. Yeah. Yeah. If they want to appeal to me. I don't know. Don't know if they're going after me. [00:38:12] S1: I don't [00:38:12] S0: know if I'm in the dam. I don't know. [00:38:15] S1: Speaking of Sorkin Yeah. Sorkin Sorkin has an amazing quote from when Mark Walter bought the Dodgers. [00:38:24] S0: He said, mark my words. This man will be investigated by public No. [00:38:27] S1: He was just like he was basically saying like, to paraphrase, like, this is not all certainly not all of his money. Oh, interesting. There's some other bunch of people funding this that aren't just Yeah.
00:38:27 · Jordi Hays, John Coogan
[00:38:27] S1: He was just like he was basically saying like, to paraphrase, like, this is not all certainly not all of his money. Oh, interesting. There's some other bunch of people funding this that aren't just Yeah. [00:38:38] S0: And and I forget that how like it's so normal in venture. Like if if you're like, oh, yeah. I raised money from, you know, Sean McGuire at Sequoia. You're like, yeah. Well, that's Sequoia's money and that's not all his money. He probably has a stake in it that he invested but then also it's Sequoia's money and Sequoia's money is like the Harvard and Yale endowment money and and CalPERS and all these pension funds and like, you understand that there's this sequence of ownership that happens with a normal venture investment or even an acquisition. But in sports, like the final beneficial owner is really important. And I don't know if that's purely aesthetic because when you say this person owns this team, you want to know that they actually own it and they're not just the front man for like a private equity firm. But it's interesting that that Sorkin called that out. He is the best for a reason. Anyway, what's Ryan Harmon up to? He's cutting the number of calories in a new product called Hall Pass. Yep. One third the calories, one third the ad space, Hall Pass. This is from Peter Rahal. Correct? Yep. Very cool. So you know him from RxBar. You know him from David, the protein bar.