Bein’ one of those ones (Nah) Who doesn’t get shit done (Uh) Wonder why they never won (Hm) Nah, it can’t be me (Hm) Lettin’ time go to waste (Nah), sittin’ around all day (Uh) Never makin’ shit shake (Nah) Nah, it can’t be me
You may have heard about Russ as a hip-hop artist, but he is also a successful entrepreneur with a startup formed around himself.
Russ got his start like many startups...applying talent, doing the work, finding users, engaging, delighting them with content and leveraging technology to grow.
Sports and entertainment is full of traditional gatekeepers.
In music, labels have traditionally been the only way to succeed from getting on the radio to distribution.
He showed it was possible to be independent and successful, doing everything himself.
From posting free content on Soundcloud to dropping one song albums every week, he got people to try the product, bloggers to post about it, driving his own attention through word of mouth and then eventually pay for it through platforms and tours as his audience scaled.
Starting to sound familiar to many of the most successful startup stories?
It's why we're excited to feature Russ as our first Monday Motivation.
Note: special thanks to Ben Horowitz from a16z for inspiring this series and Steve Stoute for sharing the story about Russ. More on that coming soon...
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Initially as the COVID-19 pandemic hit the United States and North America, almost every travel, sports, recreation and hospitality business was hit hard.
That included Outdoorsy, the RV rental marketplace based in Silicon Valley, but as Americans have adjusted to travel by road and concerns of keeping a safe environment instead of a hotel, the startup has seen a massive surge into the summer.
CEO Jeff Cavins, in a conversation with Emily Chang, says Outdoorsy went from a 90% decline in business to now revenue of $3M per day.
93% of customers are first-time users of an RV experience.
- - - Podium is a venture fund, accelerator and community across sports and entertainment, based in Silicon Valley. Learn more at www.podium.vc 💌 newsletter | twitter | FB | linked-in | IG
Fenway Sports Group, which owns both the Boston Red Sox and Liverpool, is in the business of both baseball and global football (soccer).
Sam Kennedy, President and CEO of the Red Sox, shares the challenges around the two sports during the pandemic.
- - - Podium is a venture fund, accelerator and community across sports and entertainment, based in Silicon Valley. Learn more at www.podium.vc 💌 newsletter | twitter | FB | linked-in | IG
Calm app Chief Medical Officer and Head of Sales Omar Dawood joins SBD’s Andrew Levin to discuss the company’s deal with LeBron James, its Big Ten initiative and other mental health dynamics amid the global pandemic.
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Angel City, the Los Angeles franchise for the NWSL (National Women's Soccer League), unveiled their plans this week along with many investors from sports, entertainment and tech, including Natalie Portman, Kara Nortman, Julie Uhrman, Serena Williams, Jennifer Garner, Alexis Ohanian, Uzo Aduba, America Ferrera, Eva Longoria, Lily Singh, Julie Foudy, Mia Hamm, Rachel Buehler, Shannon Boxx, Amanda Cromwell, Abby Wambach, Lauren Cheney Holiday, Casey Neistat, Alexis Ohanian and, our personal favorite investor, Olympia Ohanian.
Julie Uhrman, the founding team President, formerly of Ouya, an Android-based gaming platform, shares how the franchise went from concept to reality with a venture-startup minded approach.
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VENN (Video Game Entertainment and News Network), which raised $17 million last year from several investors who are friends of Podium, is officially launching August 5th.
With a live 24/7 network on YouTube and Twitch for gaming, streaming, esports and entertainment, VENN will broadcast from studios in Los Angeles and New York.
VENN will launch in 2020 with two live studios, one in New York and one in Los Angeles. It will broadcast content on streaming platforms including Twitch and YouTube, which have become the most popular platforms for video game streaming, as well as on social media platforms. The network also has target distribution deals with all “skinny bundles,” including Pluto TV, YouTube TV and Sling, to stream programming.
Founders Ariel Horn and Ben Kusin created VENN to fill in the gaps in esports and gaming content that they believe came about as publishers focused on keeping up with industry demands.
“They’re focused primarily on making new games and extending the lifetime of play for existing games,” said Horn. “There was a hunger around creating content that not only was the esports competition, but a variety of other entertainment crossover content that would bridge everything from reality to game shows to elevating streamers from where they are right now.”
Horn built and drove much of the esports production at Riot Games and Blizzard Entertainment, while Kusin was previously at Vivendi Games, which merged with Activision in 2007 to become Activision Blizzard.
VENN has also allowed investment into the content and production-side of the growing global gaming industry, Kusin said.
The video game industry is projected to generate over $150 billion worldwide in 2019, while the esports industry could become a billion-dollar industry this year, according to research firm Newzoo.
“We’re looking at a very interesting asymmetric here, an industry that makes $150 billion a year with no TV network,” he said. “The wide space of opportunity and the opportunity itself is very attractive to the investor community.”
Leading the round was BITKRAFT Esports Ventures, an esports investment fund. Some of the gaming industry’s biggest pioneers, including Riot Games co-founder Marc Merrill and Blizzard Entertainment co-founder Mike Morhaime, were also part of the funding round.
Merrill, who co-created Riot’s popular “League of Legends” flagship game, emphasized VENN’s necessity as a hub for “highly resonant content” that reflects the broad scope of the gaming audience and the nuances of its different communities.
″[Ariel and Ben] deeply understand that the challenge is going to be to create incredible content that has a voice and authentic brand across a variety of channels and distribution platforms,” Merrill told CNBC. “If that comes to fruition, it’s value added [for gaming as a whole].”
Twitch co-founder Kevin Lin and esports ownership group aXiomatic — whose own investors include basketball legend Michael Jordan — are also some of the upcoming network’s big gaming industry investors. The round also included hedge fund founder Alec Litowitz’s private capital group Reimagined Ventures as well as Topgolf Media president and World Golf Tour game founder YuChiang Cheng.
Esports’ digital and global nature could allow VENN to have an even larger cultural impact than watershed networks like ESPN and MTV did when they were founded, said Cheng.
″[VENN] can be way more diverse and inclusive, and I think gaming needs that in spades but on a global scale,” he said in an interview. “Esports [already has a far more inherently global audience than when networks like ESPN and MTV were launched], and that worldwide outreach will grow thanks to unique opportunities that will come with how these channels and notes are built.”
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To the rest of the world, it looks like paradise with such success.
In reality, there's often chaos behind the scenes.
Scaling technology or infrastructure is one thing. Maybe you need to expand your cloud capacity.
Startups that began as a small team handling everything to scaling into a larger company with user growth means having to figure out how to adjust the organization itself.
Our friend Jason Calacanis interviewed David Sacks (PayPal, Yammer and now Craft Ventures) about a recent Medium post about the operating philosophy of startups.
We HIGHLY recommend checking out both the original post and the video discussion above.
Here is an excerpt from The Cadence, David's post:
Let’s face it: most startups are a shitshow. Perhaps the most pervasive problem afflicting venture-backed startups, once they achieve a basic level of product-market fit, is managing the organizational chaos that results from rapid growth. Almost by definition, this is a chronic challenge of Series A-C stage startups since the rapid expansion of the team to chase a new market opportunity is the purpose of that venture funding in the first place. During this time, the growing pains of the startup will reach such a crescendo that the founders and board will cry out as one, “we need a COO!”
As with any potential problem in a startup, it is possible to posit that a perfect hire could solve that problem, but the more direct route is simply to solve it yourself. Putting your startup on an operating cadence is the way to do that. The Cadence is an operating philosophy that I first learned as COO of PayPal (during the so-called “PayPal Mafia” founding era) and then adapted for SaaS as founder/CEO of Yammer, which Microsoft acquired in 2012 for $1.2 billion. To this day, Yammer is still the fastest unicorn exit among SaaS startups, and a lot of that success is due to the Cadence. The Cadence helped us scale to almost 500 employees and $56 million in annual sales in 4 years.
The Cadence is most needed when scaling from 50 to 500 employees. This is when a pivotal transition in the way the startup operates is required. Before then, all of the employees fit into a single room (either physically or virtually), everyone knows what everyone else is working on, and founders can easily run around telling everyone what to build and what to do.
But at around 50 employees, this approach stops scaling. So the org chart is broken into silos for sales, marketing, customer support, and other functions, and product managers are hired to guide the development process. These new levels of hierarchy create a feeling of compartmentalization and disconnect in the organization. Meanwhile, a lack of leadership for some functions creates a sense of disorganization. Disconnect plus disorganization equals chaos. Ironically, the better the startup is doing, the more chaos there is. This is one of the few startup problems that growth doesn’t solve — in fact, it’s caused by growth.
The Cadence is designed to synchronize the major functions of a SaaS startup so that the team works together in lockstep. It brings order to the chaos; it turns the shitshow into an army. It brings together disconnected areas so everyone understands what is happening and what they should work on. It replaces erratic release dates and sales targets with concrete milestones for shipping and selling. The impact of hitting those milestones, quarter after quarter, has a huge compounding effect on the performance of the business and its culture.
Ironically, the better the startup is doing, the more chaos there is. This is one of the few startup problems that growth doesn’t solve — in fact, it’s caused by growth.
So what is the Cadence? It’s based on a few simple insights:
First, the four major functions in a SaaS startup — Sales, Finance, Product, and Marketing — are all best run on a quarterly cycle.
However, it’s not the same cycle. Sales and Finance are on one calendar; Product and Marketing are on another calendar. I call these the Sales-Finance System and the Product-Marketing System.
If you snap these two calendars together, it will create a single operating cadence for the company.
The key milestones and events in these systems create opportunities for company-wide communication and collaboration — a kind of superstructure for the organization.
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View from the Top UC Berkeley Engineering Jack Dorsey | October 2013
Jack Dorsey shares his personal non-linear journey from St. Louis to the San Francisco Bay Area and how both Twitter and Square were founded with several lessons along the way.
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1. The Last of Us: Part II
2. Call of Duty: Modern Warfare
3. Animal Crossing: New Horizons*
4. Grand Theft Auto V
5. Mortal Kombat 11
6. Red Dead Redemption II
7. Ring Fit Adventure
8. NBA 2K20
9. Mario Kart 8: Deluxe*
10. Minecraft Dungeons*
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Podium is a venture fund, accelerator and community across sports and entertainment, based in Silicon Valley.
"You've got to start with the customer experience and work backwards to the technology."
- Steve Jobs 1997
Apple Worldwide Developer Conference (WWDC)
- - - Podium is a venture fund, accelerator and community across sports and entertainment, based in Silicon Valley. Learn more at www.podium.vc 💌 newsletter | twitter | FB | linked-in | IG
- - - Podium is a venture fund, accelerator and community across sports and entertainment, based in Silicon Valley. Learn more at www.podium.vc 💌 newsletter | twitter | FB | linked-in | IG
Our friends from Spotify + Google explain how the cloud is used to scale audio content to millions across the world with unique and personalized experiences.
- - - Podium is a venture fund, accelerator and community across sports and entertainment, based in Silicon Valley. Learn more at www.podium.vc 💌 newsletter | twitter | FB | linked-in | IG
Matthew Strauss shares the strategy on the launch of Peacock, the new streaming service from NBC and Comcast with multiple tiers, including free and ad-supported.
Originally planned to launch with the Tokyo Olympic Games that has been postponed to 2021, Peacock plans to include also to stream sports from Premier League to NFL.
- - - Podium is a venture fund, accelerator and community across sports and entertainment, based in Silicon Valley. Learn more at www.podium.vc 💌 newsletter | twitter | FB | linked-in | IG
As one of the high-profile sportstech and home fitness success stories, Peloton founder John Foley was already gearing up for growth as a public company and then the pandemic hit, causing a surge for home fitness.
From supply chain to delivery to live studio, John explains in conversation with Guy Raz of NPR how Peloton has adapted and how they see the future of home fitness.
- - - Podium is a venture fund, accelerator and community across sports and entertainment, based in Silicon Valley. Learn more at www.podium.vc 💌 newsletter | twitter | FB | linked-in | IG
11 Los Angeles area professional sports teams have come together to form an alliance for social justice and community efforts.
- - - Podium is a venture fund, accelerator and community across sports and entertainment, based in Silicon Valley. Learn more at www.podium.vc 💌 newsletter | twitter | FB | linked-in | IG
With the pandemic and changing economic environments, how are tech companies adjusting, shifting and adapting their financial focus and to what extent?
How do the changing economic environments alter growth plans or profitability focus?
Is the impact greater for earlier stage companies or do they have more flexibility to adjust?
What should be the priorities for CFO's?
Watch a discussion on the shifting strategic mindset, hosted by First Republic with:
Scott Clark, Head of Finance, Instabase
Javier Cortes Angel, Chief of Staff, Flexport
Venky Ganesan, Partner, Menlo Ventures
Isaac Oates, Founder / CEO, Justworks (moderator)
- - - Podium is a venture fund, accelerator and community across sports and entertainment, based in Silicon Valley. Learn more at www.podium.vc 💌 newsletter | twitter | FB | linked-in | IG
Walmart CEO Doug McMillon started his career working in a warehouse for the company he would eventually lead.
In a conversation with David Rubenstein, they cover leadership in a crisis to the future of e-commerce, including how it differentiates itself from Amazon.
Interview starts at 4:15 of the video.
- - - Podium is a venture fund, accelerator and community across sports and entertainment, based in Silicon Valley. Learn more at www.podium.vc 💌 newsletter | twitter | FB | linked-in | IG
On July 10, Japan became among the first countries in the coronavirus pandemic era to restart large-scale sporting events with spectators. By the end of the night, it was clear that the balancing act of minimizing infection risks while maximizing excitement was near impossible.
After a relatively tight ten innings of play, infielder Dayan Viciedo walked to the plate and slugged a “sayonara” home run, leading the Chunichi Dragons to a dramatic 3-2 win over the Hiroshima Carp.
The home crowd of 4,958 erupted, jumping up and down, clapping and yelling -- precisely the full-throated show of enthusiasm that Japan’s baseball league officials had spent months devising ways to prevent.
“I don’t know if I can really relieve my stress today because I’m not allowed to release my voice,” said Dragons fan Kimie Kouketsu, as she entered the stadium. “But who knows, I might sneak in a quick yell,” she said with a laugh.
Opening the gates to fans -- albeit only 5,000, or about a 10th of Nagoya Dome’s total capacity -- came at a particularly tense time in Japan, which is facing a resurgence of coronavirus cases, centered mainly around Tokyo, after successfully containing the first wave.
Despite the recent flare-up in Tokyo, Japan has had far few cases than other major countries, with just around 21,000 versus more than 3.1 million in the U.S, according to data compiled by Johns Hopkins University.
Scott Boras, a sports agent who represents more than 170 professional baseball players, cited Japan, Korea and Taiwan as models for Major League Baseball, which has so far struggled to start its 2020 season. Its first game, without fans, is currently scheduled for July 23, nearly four months behind schedule.
“It’s very helpful to see baseball being operated safely in other environments,” Boras said in an interview.
Major League Baseball teams are particularly paying close attention to procedures Japan and Korea are putting into place for the return of spectators. Ticket sales account for the bulk of revenues for the teams, which are racking up big losses on player salaries.
In Japan, fans attending Friday’s games were met with a slew of new rules that proved hard to adhere to: no loud yelling, no high-fives, no towel twirling and no shouting through hands cupped like a “megaphone.”
Beyond the risk of gathering thousands of people together in crowds, research shows that yelling and singing are particularly dangerous because of the tiny respiratory particles emitted. It’s why choirs and karaoke bars have been tied to outbreaks.
“Hello everyone!” the announcer said over the stadium loudspeakers before play began in the Nagoya Dome. Fans responded mostly with silence, following the rule against loud talking. “Thank you for saying hello back to me from inside your hearts,” the announcer replied.
League officials encouraged fans to use electronic whistles and devices to play pre-recorded cheers, instead. Masks were mandatory and entry into the stadium was barred for anyone showing cold symptoms or whose temperature was above 37.5 degrees Celsius (99.5 degrees Fahrenheit).
Seating was socially-distanced, with alternating empty rows and spaces left between groups. Some spectators laid towels on vacant chairs to make it feel less empty. Others did their best to restrain themselves from chasing foul balls, although a few fans made half-hearted tries, despite instructions not to.
At some points during the early innings, it was quiet enough to hear the whirring of the stadium’s air conditioners. Some people took to whispering to avoid being overhead in a stadium that might normally hold 50,000.
But as the game wore on and the beer kept flowing, the crowd got rowdier. Some fans began calling players’ names and, as the atmosphere built, big plays started to elicit cheers. Stadium attendants didn’t intervene.
For the players, having fans in the stands provided a welcome boost after more than a dozen games played in empty stadiums. Three of Friday’s games were won on runs scored in the final inning, a sign of how fans can sometimes sway outcomes.
“The fans cheering gave me power,” Viciedo, one of four non-Japanese players on the Dragons, told the crowd after scoring his walk-off home-run. “Thank you for your terrific rooting. It is because you came here today that I was able to play well.” Source: Bloomberg
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Golf is considered by many to be lower risk for the pandemic since it's outside on large scale venues with players already kept at a distance or in small groups.
As sports continues to adjust to the COVID-19 pandemic, will this be the new normal to expect until a vaccine is available?
With some of the most elite and popular sports figures in the United States from Stephen Curry to Patrick Mahomes to Charles Barkley all in the same place, American Century Investments CEO Jonathan Thomas reviews the steps taken to protect everyone for a celebrity golf tournament, including:
no fans or spectators
restrictions of friends, family
no group social events
use of PPE
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Airbnb CEO Brian Chesky was heading into an IPO that would have been filed on March 31st until his company, travel and the world were hit with a global pandemic that disrupted everything.
As of late June 2020, travel was making some recovery for local trips, but travel might never be the same, especially for business travel and high-density cities.
Instead, outdoors, national parks, small communities and experiences may increase along with a population shift where people don't just work from anywhere, but may want to experience living from anywhere.
Over the long-term, online experiences may also become bigger than travel itself.
Every startup, no matter how small or big, has been faced with how to adjust and adapt to the pandemic and whatever the new normal that emerges.
One of the difficult decisions Airbnb had to make was to reduce its workforce with lower demand, maybe the hardest decision a CEO has to make since in this case, it had nothing to do with quality of work but an unexpected change in the business.
A big lesson learned for startups shared by Brian has been about how success can sometimes veer a company into doing too many things at once.
The crisis has forced Airbnb to be focused, lean and scrappy...back to its startup roots.
This also means that when Airbnb does go public, likely later this or next year, it may be better positioned for growth and success.
Sometimes, less is more and this crisis may turn out to be a challenge that helped shape an even better future for Airbnb as it shifts from a company of homes and a marketplace to a community of connections and experiences.
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Podium is a venture fund, accelerator and community across sports and entertainment, based in Silicon Valley. Learn more at www.podium.vc | twitter | FB | linked-in | IG
How the Pandemic Will Shape the Near Future Conversation with Bill Gates and Chris Anderson Recorded June 29, 2020
With the pandemic impacting our worlds of sports, entertainment, startups, venture capital and life, it's important to have an understanding of the near future as we all adapt and plan ahead. - - - Podium is a venture fund, accelerator and community across sports and entertainment, based in Silicon Valley. Learn more at www.podium.vc 💌 newsletter | twitter | FB | linked-in | IG
Over time, there is increasing potential for the use of blockchain, bitcoin and crypto in sports and entertainment, including but not limited to athletes, digital memorabilia, ticketing, sports betting, esports, gaming and payments.
How will blockchain, bitcoin or any cryptocurrency apply to the future of sports and entertainment?
In July 2019, CEO Brian Armstrongshared the backstory of Coinbase and the mission, vision and strategy ahead.
- - - Podium is a venture fund, accelerator and community across sports and entertainment, based in Silicon Valley. If you have a founder or startup story you want to share with our community, please reach out at info@podium.vc. Learn more at www.podium.vc 💌 newsletter | twitter | FB | linked-in | IG
As the NBA prepares to go into the first ever basketball bubble in Orlando, Florida due to the ongoing COVID-19 pandemic, it presents many challenges but also a unique opportunity to experiment with connecting remote fans with an up close experience.
Can the NBA leverage being able to get closer to individuals without worrying about fans or cameras blocking each other or let people hear what usually can't be heard due to crowd noise?
Rachel Nichols, Chiney Ogwumike and Paul Piece review how far the NBA could go.
- - - Podium is a venture fund, accelerator and community across sports and entertainment, based in Silicon Valley. Learn more at www.podium.vc 💌 newsletter | twitter | FB | linked-in | IG
Questionable Advice from Apple SVP Craig Federighi UC Berkeley School of Engineering - November 2019
One of our favorite people in Silicon Valley is Craig Federighi, Apple's SVP of software engineering, who has become one of the most familiar faces of Apple's keynotes in recent years.
However, likely less familiar, this was also Craig Federighi back at UC Berkeley 😎
The local Bay Area kid with an early Mac, grew up dreaming he would work for Apple, but ended up getting his first job at Oracle after going to college at UC Berkeley.
He later worked for a company called Next founded by then former Apple co-founder Steve Jobs, which eventually got bought by Apple, landing Federighi his dream after all to work for Apple.
In November 2019, he gave a talk to the engineering students at UC Berkeley about his journey and lessons learned.
With all the hardware innovations at Apple over the years from the Mac to iPhone, it's easy to take for granted there's been aesthetic software designed to handle complex tasks and magically "just works."
Craig Federighi is one of the reasons Apple is loved and also proof you should not be alarmed if your college kid has long hair.
BONUS: After the recent WWDC 2020, Marques Brownlee (aka MKBHD) reviewed the latest iOS coming soon to iPhone (conversation with Craig starts at 12:40).
- - - Podium is a venture fund, accelerator and community across sports and entertainment, based in Silicon Valley. Learn more at www.podium.vc 💌 newsletter | twitter | FB | linked-in | IG
Noah Kagan, Chief Sumo at AppSumo, shares some frank advice on how to stick with your vision and a shoutout to Andrew Chen at a16z.
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As part of an ongoing series from 2019 on the Future of X, founding editor of Wired and publisher of Whole Earth Review, Kevin Kelly reviews the future of big data:
Big data is valuable because it delivers evidence of how humans live. And we can use that evidence to make better decisions, write policies with better outcomes, and design more useful products and services. This evidence-based future relies on a nascent ecosystem of technologies which will expand alongside the science we use to make it all work in real time. Tools for data collection are a fundamental component, but processing all of the data is even more critical. Big data cannot be made useful without the application of artificial intelligence, but we also need improved bandwidth and compute processing power. On the social side, we have questions of privacy to work out. If all of our actions are collected as points of data, and if the purpose of the data collection is to make accurate predictions, what does that mean for individuals? Solutions, like differential privacy and federated learning, for example, offer some ideas for technological ways in which collective patterns can be established while protecting individuals. A final key component to success with big data is the concept of symmetrical knowledge. The goal is to design a system where the benefits are shared, allowing two-way transparency, so that we better understand ourselves as a collective, while also having a view on how the data is being collected and used, and holding data collectors accountable.
- - - Podium is a venture fund, accelerator and community across sports and entertainment, based in Silicon Valley. Learn more at www.podium.vc 💌 newsletter | twitter | FB | linked-in | IG
Forging Your Entrepreneurial Path with Jay Williams and Derek Andersen Startup Grind Global Conference February 2020 - Silicon Valley
Our friend Derek Andersen, CEO of Startup Grind, talks to ESPN Jay Williams about going from athlete to media and investor along the entrepreneurial journey.
Learn more about Startup Grind's global community for entrepreneurs.
- - - Podium is a venture fund, accelerator and community across sports and entertainment, based in Silicon Valley. Learn more at www.podium.vc 💌 newsletter | twitter | FB | linked-in | IG
