YouSaid · the spoken record

Aryeh Bourkoff

lines on the record: 110
first: 2022-10-19
most recent: 2022-10-19
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“Defined is it's the distribution of content over a technology. And when you think of it that way, the technology used to be books, newspapers, now it's podcasting, it could be different things in the future, but the best content distributed is something that applies to everything in life that people consume and digest, whether it's music or words of wisdom or politics and the responsibilities on all of us to make the best impact out of it all. And I really appreciate what this and media can do for our lives. So Bess is you have to come.”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“Been a great pleasure, Tim. I could also talk to you for hours. And I was looking forward to this for a long time. As we go through different periods of time in our lives and the world at large, and we've all been through different unexpected movements and motions and things, and that's one concept, there's going to be more unexpected things to come. It's all about these trusted friends and communities that we can build, which is the distinguishing feature of humans, right? That we can bond together for good things and then tackle the world. And if we eliminate all the extremism, then everyone can redefine their view of what their centers look like. And then that's where the richness lies and whether you find it in the magic hours and the wee hours of the night or the middle of the day. I think we can form these circles and then really bond together. And I think the best is yet to come. And I really appreciate this relationship and what we can do together. And I really appreciate the attention of all of your audience. And the one thing about media that is...”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“And he did yesterday. And so I was like, it all came together. This is how like there's certain karma. My calendar and this podcast and everything else. And your questions. I want to make sure that we talked about it.”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“And it's a really, I've never had it anywhere else. It's a whiskey based drink with Chartreuse sense of the essence of ginger and some ice. It's really, really good. But the funny thing about it is, as I was thinking about it yesterday and thinking I was going to be talking to you on the podcast, I last night went to an event in New York for the rich in Paris and frame as part of the fashion week I was invited to because some friends were putting it on. And unexpectedly, that bartender from the Hemingway bar in Paris at the risk was at the event. And I said, it's unbelievable I'm going on the Tim Ferris podcast. He's going to ask me about a drink, and only you serve this drink in the whole world. And here you are in New York leaving your perch at the Henway Bar. Could you indulge me with this Mach2 drink?”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“I thought about it for a few minutes, and I travel the world in interesting places. You try to integrate business in life and enjoy what you're doing and appreciate the finer things where you can. And there's a drink that is served at the Hemingway Bar, the Ritz Hotel in Paris. That is called the Machu Mach two.”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“That takes a lot of structure. That's what I call scaled intimacy. If you can scale the constant of intimate relationships and intimate deal making, that's the panacea. But otherwise, I prefer to do just a few high quality things and then take it easy for a while. But I think that's the standard. Don't settle ever. But I do have to tell you one story though, because you did give me some really interesting prep work Your prep work had questions on it about certain things that like, what's one of the things that you purchased for less than $100 that made a big impact? And I would have said a book, you know, so we were talking about some of these books. But you also said anything particularly interesting that you've ever had to eat or drink in your life.”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“That's our issue to deal with, but the worst thing you can do to compound that is make bad decisions on top of Fixing your own structural issues. And that governs everything even today. Like when you're building the company, when you're working with the outside world, the internal world, you're making sure that you're making the right decisions with a quality standard for excellence at all times and that you're not accepting mediocrity, especially if those things have lots to do with your own fixes that you have to make. We spend a lot of time doing infrastructure work internally and then playing for excellence. But if you're going to do one thing, I prefer inactivity than mediocrity. I want to make sure that we play for excellence and quality all the time, all the way through the company and all the way through the ripple effects we have externally and do fewer things with quality than scale things. Obviously, ultimately you prefer to do a lot of quality things, but”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“First of all, I was a goalkeeper in high school, even as a relatively short person I was able to play goalie in soccer. I think that it all comes down to understanding the, there'll be many more shots on goal than exist today. So don't be afraid to say no to something today with a fear that nothing's going to come tomorrow. So the sample set that you're dealing with today is not the whole thing. And play the long game. And so I felt that a lot of the companies that we were looking at at that time were coming to us because of sort of negative selection that we were getting pitched by companies that weren't necessarily the highest quality, but just because we had capital doesn't mean that we should do them. And so I wanted to play quality. I wanted to only do business with the best companies. And if we didn't have the structure in place to attract those best companies today.”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, well, yeah, I mean, I think your whole community is built on trust. And you also have. A curiosity to you as well, but based on certain foundations that people sort of view you as dependable, right? They don't think you're going to veer them off to an extreme position. But you're inquisitive about where the world's going. And my view is that you're ultimately interested in impact around that.”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, I mean, you and I met at Formula One. So imagine maybe that's your future. You're doing taking on a British accent, doing the formula I know you're friends with Lew I think that there could be that in your future. But what do you want if you were going to migrate and take and evolve your audience? Into a different genre with you? What do you think that they would be into?”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“Intersect with other genres. So imagine you're with Amazon and Amazon's doing the NFL and they want your postgame show intersected with your podcast of the NFL. So they're going to start using you as a key brand for the platform overall beyond just the show. So I think it becomes assets of the platform that become very interesting and different packaging of the deals, I think, will be fascinating. It all depends on the loyalty and engagement of your user base and your community and what the community is going to be driving that they want to see. And obviously your ability to engage with them.”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“Took some of the streaming platforms like Netflix and Amazon and Apple a long time to get into sports, for example. And now they're all bidding for sports rights because they have to have sports as a differentiator. And once one gets in, they're all in. So Amazon's been in for sports rights, Apple just did the MLS deal. They're all looking at sports deals. Netflix has Formula One, Drive for Survive, right? In some ways. I think podcasting is the same thing. Now that it's kitting the sweet spot of the curve from a revenue and profitability contribution for iHard, and that was all over Spotify's Investor Day of like the podcasting growth driver, then you're going to see Amazon and all of them jump into it. And then you may see competition for talent between platforms. And then you may start to see some of the podcasting personalities and brands.”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“Was told the same thing when we launched the bank in 2012 that it was late to start a new independent bank and the ship had sailed. And I was like, well, maybe the door shut behind us.”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“Get behind it, or like, you know, obviously iHard, Spotify, Amazon, but every platform that reaches a global audience needs differentiated content today. And video content alone has kind of hit diminishing returns. Audio content and podcasting content, I think, that's really well branded and curated and quality like this one. I think the best has yet to come still. And it hasn't even scratched the surface globally. And so I think those are going to be really interesting, but I think more curated, more guides, more branded content and monetized in different ways, I think will be pretty important. And then there's social features as well, like some more interactivity of being able to do events and tours going around to talk to your audiences and having more of an interaction between the fans and the creators, I think, is a big white space.”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“The audio market and the podcast market is strong and growing. Clearly, like everything in content, the quality has to rise to the top because a lot of people have jumped into it and has to also get curated in terms of guides. Remember at the beginning of YouTube, you were in the jungle. You had no idea how to navigate YouTube. Now finally, if you want to go to sports, you know where to go. And if you want to go to history, if you want to go to brands, commerce, you kind of know where to go. So I think there needs to be more curation around audio and podcasting in general. where you find different content and when and how you digest highlights and versus the whole episodes, et cetera. But it is going to be more branded and more curated, I think, from here and heavily monetized, but hopefully not over monetized in ways that are uncomfortable. Like I'm not anticipating things that are full advertisements, but sponsorship is going to be more interesting, platform that will really.”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“Until you figure out where that second mountain is. And when you start climbing the second mountain, you don't even have to get to the destination. It's just a joyful climb. And it's a happy climb. You're doing every single thing you want to do with every breath you have. I love that whole concept, finding that second mountain. There's no such thing as a linear move from the day you come out of school all the way until you die. It's not linear. You're going to hit a chasm and it's cool until you find that second mount to climb personally, professionally, et cetera. It's all good.”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“It's like things on the sometimes things on the way up happen very slow and methodical. But on the way down, things happen gradually. And then suddenly, like there's not a symmetric relationship between things that happen on the way up and things that happen on the way down. And then another book I would say is David Brooks, The Second Mountain. It's a really interesting book. It is a book about, I view it as a book about personal development, careers, people in our age of life. You know, you kind of start your career coming out of school and thinking about what you want to do one step in front of the other. And then you get to a certain point, like at our stage of life. And then you think, well, that's where I started from to where I am has nothing really to do with where I want to end up top of the second mountain. And once you start thinking about that, you end up in the valley of thought.”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“Recognition of a friend of mine who's in the business, I reread the other day, great book. And I love the sun also rises, Hemingway. There's a particular line in there that I love that he's like talking about bankruptcy, saying that it happens gradually and then suddenly.”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“Biography is, I mean, I like all the Neil Ferguson books. I read the House of Rothschild, JP Morgan books. I actually read Bill Cohen's book on the Lazard, the Last Tycoons. Really good book. Not only because of being in this business, but you do want to go back to the underpinnings of what is relationship banking. I really think that's a really interesting profession beyond just finance. It's like, you know how to build with people over a long period of time with outsized impact. I think that's really, really interesting to me. And I hope other people in the firm and even your listenership. In fiction, I mean, like I've always loved some of the mystery novels, the legal thrillers. I've always liked the John Grisham books. I would say meaningful to me, like Ann Rand, obviously, it's not fiction per se. John Steinbeck the Pearl.”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“Then abundance, and we have everything we want. But then on books I read now more recently are about people. I'm beating a book now called The Banker's Journey about Edmund Safara's journey, a banker from Brazil just came out. I'm reading a book by Chris Blackwell about the music industry and his forming in the music industry and founding Bomarley and U2 and his journey, things that are interesting personal stories. I read books all the time. Jan Leonard just came out of the book today. I'm looking forward to buying the Rolling Stone editor and founder. And his son Gus are friends. So his son more than Jan. But interesting life and stories, texture to read. So I like to read a lot. I probably read more than I consume other forms of media.”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“Escobar's role, yeah. That was cool. Artsy, right? Cities reinvent themselves based on the adaptable forcing function of those people, right? I love that concept and it's very helpful for a company build dynamic. The third one is a book called Scarcity. I think we're moving from a period of abundance to scarcity. And so how you are not fearful of scarcity, how you could do more with less. And we're getting into a period now where there's unfortunately scarcity of food and water and energy resources shortages because of macroeconomic dynamics, warfare in the Ukraine and Russia. And I think inequality post-pandemic and how you deal with scarce resources, people paying their bills plus inflation, what you do out of those dynamics, it creates a lot of tension and fear and conflict, even military conflict. So different kind of read.”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“The UK, you had Italy, you had Israel, you had Sweden recently, right? And you had even France that came dysfunctional. And I was like, oh my goodness, all these governments are falling. But that's okay because if the people are unhappy and the governments don't fall. That's rigid. That's a problem Governments have a chance for reinvention. And just like New York City, where I'm sitting now, I had a chance to reinvent itself post-pandemic or in Detroit, company town, when the industry falters in the auto industry had a chance to reinvent itself with creativity or Medin and Columbia used to be known as a rough drug trade, right?”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, leadership and self deception. There are two timeless books are a book called Scale by Jeffrey West that is all about why some things last minutes, humans could go on for 70, 80 years. You know, the queen lasts 96 years. The average public company goes for But cities seemingly last forever. You can throw nuclear bombs at cities, unfortunately. But they still keep moving. Why do something last some finite periods of time and some things last much longer? It's all about what you feed it and the ability to grow it, but ultimately it goes back to adaptability. If something has a rigid purpose, And you break the purpose, it will die. Profits for a company will die. A city, the people always reinvent itself. This summer, I think five governments fell this summer.”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, there are quite a few. I mean, I probably buy more books than I read. I wonder if that's the case for a lot of people, actually. I listen to more books than I read. I don't read complete books, but I do try to read as much as I can. I'd say the timeless books are one book called Leadership and Self-Deception. It's really a book about self-awareness that we really handed out to the firm. And it's a book about really just kind of owning your own decisions. That's a timeless book.”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“Go right to it, but it has to go fast, and you have to get back to me right away, and they did. And if they didn't, and in those 48 hours, there's a lot of emotion, but they did get back and it moved very, very fast from there. That's exactly what we're talking about.”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“And they're not even really selling the company. I said, well, what if I told you that they were selling the company? He said, well, how would I know? I said, well, I'll, in good faith, speak on behalf of the chairman and give you a new offer that will yield a bit under the condition that you get back to me with a counter offer like right away within 24 or 48 hours so I get also the feedback back to the chairman that you're serious about dealing meaning that if I can speak for a principal, you have to speak also that you want to get something done, but I'm not going to move unless you're going to move. And I need to know that you're going to move. And that was trust because they took a risk that I was telling that I could represent the owners of OGM. They said, okay, what do you got? I said, I think we should split the difference.”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“So the owner and chairman of MGM said to me, I give you my proxy to go in there and break the law jam. And so I did. And when I went to call the Amazon executive, I said, okay, we're ready to negotiate. Now, they said, well, there's nothing to negotiate. They're at $9 billion. And we're at $8 billion and we're not moving.”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“The point where the deal could have gone away. On one hand, you're close, on the other hand, nothing's happening. So finally, the chairman of MGM, who was really dear friend, calls me and says, I'm ready to like, what do you think? I'm ready to unlock this gap. And I knew Amazon very well enough to know that they were thinking because this gap was going on for so long that the owner of MGM and the chairman, in their mind, they were thinking didn't really want to sell. So they were thinking that $9 billion was just basically saying, I don't really want to sell. I knew that was not to be the case.”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, so what I'm going to say is public information. You know, when we did the transaction of selling MGM studios to Amazon. Which is the only example of a content company being sold to a technology company to date, there was an impasse between the buyer and the seller that went on for a while. The deal ended up being worth around $8.5 billion. But for months Amazon will not go above $8 billion. And MGM and the owners of MGM said we were not selling below $9 billion held at high water. And so we were at an eight to nine billion dollar bid ask for months.”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, I will, actually, I think. All the deals that we work on that are public company deals end up being filed publicly with the play-by-play of the deal. No one likes to read legal documents, but the fun part of the legal document is the play-by-play of the deal if people are interested in the step-by-step of how a deal works. Because while we're doing the deal, we're very aware of the fact that it will be filed publicly. It's not like you're pulling fast ones because it's going to be disclosed how you're doing what you're doing. So you have to be truthful. There's no concept of lying in a deal because it will all be uncovered later if you want to be in the business the next day.”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“Something that is a discount to that, that you only would do that if you feel like the other person's doing the same thing. So it all goes back to trust. And that trust is not about one person trusting another. It's at different phases of the negotiation that trust picks up. So at the beginning of a negotiation, it may be less trustworthy than at the end when things are really coming to the finish line, when you can see the light of day, that things start to pick up towards the trust. So you have to see kind of when you can play those different tactics. But at the end of the day, it's kind of seeing people where they are. I think it's really important without giving up what you really need.”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“Going to get down to things that are really important and things that are not really that important. And to be able to be comfortable saying that, like, okay, if I listed these three things, please rank an order for me. What's most important to you? You really don't need that will give me a little bit more room to come back to something that I think we could work with. That shows that you'll be able to give up something to get something, which is obviously hallmarked any transaction. Now, that's a good negotiation. There are tactics above that. So sometimes in order to get to somewhere that you need, you may ask for things that you don't really want just to settle back in.”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“You need to meet that receiver where they are. Your post pattern play is irrelevant. It's only relevant to your formation at the beginning, but it's not relevant to actually where the ball is going to go in the end. Because what happened on the field is much more important. You have to do the preparation work and have to have a sense of what you think is proper and right from your perspective, but you also have to understand what will be the scenarios that will be important to them. And then the middle ground approach is too often used. It's not that, it's just starting from understanding both vantage points. It's the same kind of skill set as saying before I put a buy on something, I have to also reject a sell. You know, you have to be comfortable in an unknown position.”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“Is never going to end well. And you're going to be very frustrated. It'll be temper tantrums and so on. I kind of make it, the best analogy I can think of is when you're in a huddle about to throw a pass in a football game and you have figured out you're going to throw a post pattern in the huddle and you've thought about in that huddle if you say hi play goes and you throw the post pattern play But you haven't looked at actually what happened in the field and the receiver had to go in a different direction.”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“And it's probably the opposite of what people believe or instinctively would do, which is usually the answer, by the way. So I would say like 90% of the time, everyone focuses on what is important to them and what we or what you say That matters is how it lands to the other person. It's a life. In order to understand how something will land to the other person, you have to put yourself, you have to meet them where they are. To put yourself in their shoes. Once you put yourself in someone else's shoes, then you don't have to do what they say in a negotiation, but you have to at least start with that understanding. And then go back to what's most important to you from there. And then you have a fair. Understanding of what that negotiation is going to look like. But if you just start throwing your words against the wall,”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“Are you telling me, Joe, that our fee is $3 million? He goes, that's what I'm telling you The whole thing wired. I so respected it. That's what we got. That's what we took.”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“And I'm thinking that's terrible. Now, I don't remember exactly what I was expecting to get, but definitely more than the three and definitely relative to the face cards or anything else I was thinking this was towards the bottom of the deck, right? So he goes, you seem like you're in a bit of a stuck place. Maybe you want to call the home office back at UBS and find out what they have to say. I go, yeah, I have to do that. I can't just walk back with that. He goes, you could use the phone in the conference room here to start the corner. So I went to the phone, picked up the handset. And there's a card on the handset. And it was face down. I picked it up and I turned it over, and it was a three. That's why I realized what was happening. I put the phone down”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“I said, okay, I reached in, pull a card out, it's a three. And he saw my face and I was very disappointed. He said, you seem dejected. Would you like to do it again? I said, well, yeah, can I do it again? And he said, yeah, let's do like best satisfactory. So I said, great. It's like so nice, gracious. Dude, again, and I pick out a three again.”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“That sounds great. Like friends now, too. This is great. So he said, In fact, more than just a card trick, why don't we just shortcut the whole thing since you're busy, I'm busy, and why don't you just pick out of the deck any card and whatever card you pick will be your fee and we'll just do it by chance. I said, really? Like we'll do that just to clarify a face card like a jack queen and king, that's like, that'd be like $10 million. He said, yeah, that's right. So only company for 500 million. Whatever you pick, that'll be your fee.”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“And Joe said, Hey, you're here to negotiate your fee, right? I said, Yeah. But you project some confidence, but you're really nervous inside. And he said, just to break the ice a little bit before we get into that negotiation, do you want to play some cards? Do you want to do a card trick? I'm getting into cards recently.”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“Deal, then all those acting years combined, but it was a pleasure to work with. But CBS's CFO or even, I think it was the treasurer at the time was Joe Inello. He rose to ranks of even being the CEO for a while after that. And Joe was a tough negotiator. But we were on the same side of the table. So afterwards, I was told by my bosses at UBS, like, okay, REA, like a great job of the deal. Now go get us a good seat. I said, okay, I have to do that too. All right. Yeah, that's what it takes. And I said, okay. So I went over to, Joe was appointed as a person that had to negotiate our fee. And I thought it would be like one of these great Kumbaya conversations. We all did a great job together. Let's have drinks and get it settled quickly. But no. So I went over to BlackRock, you know, the CBS building. It was long.”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“On behalf of the owners and also UBS, we really did a good job, I have to say. Like we did a good job selling the company. It was not an easy sale. Eventually, the Dolans bought it, actually. The company that owned IFC cable vision, the Knicks, bought the Sundance channel for $500 million. And I thought we did a good job. And I remember in those days, in some cases also today, when the job is done, then you start to think about, well, how much am I going to get paid for the services? Sometimes you get that figured out at the beginning. In this case, figured out the end, we were thinking that would work to our benefit because it was such a home run deal. I thought we did such a good job that they would want to pay us more. Whereas if we agreed at the beginning, we probably would have underssold ourselves. And Robert Redford did really well in that deal, I remember. I think probably made more money.”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“Reading a book or listening, unless you're really not focusing on it. The appearances are a bit misleading, but it's a texture of all of the above. And some of that thoughtfulness is where you really come into strategizing around what the future could be for you. We were doing a deal, I think, in 2007 for a company called The Sundance Channel, which was owned by NBC, CBS, and Robert Redford. We were selling the company.”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“Only see the things that you're like where you're bouncing around. They don't see the memo where you're just happily sitting alone.”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“The fact that you got my name right and not Joe's Obviously, what appears to be a home run every time is not. I mean, every day is full of happiness and successes and frustrations and consternations and irritations about what we could be doing better, what I could be doing better, frankly, all the time. And I do try to, I'm as much an introvert as I'm an extrovert, by the way. I think as big as misnomer is like Maul is out and about. And I get a lot of energy from being out and about. partially because of other people's energy, not just my own. But I also really enjoy some thinking time with music and some reading time and kind of a chance to re-energize and go deeper than just bouncing around. You just don't Instagram out the periods where you're sitting alone.”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“Like when you're a parent to a child, you have to provide that security. But at some point, they have to then. Get unlocked. So I just think not everyone has to be entrepreneurial all the way, but there are certain responsibilities that I have to build a business for people to thrive and make sure it's that kind of environment mission driven and opportunistic and a meritocracy around that and certain responsibilities that people have within it to then take it competitively better than the best they can and the risk I take is that they could do it somewhere else better than here. But I own that risk every single day. What risk do they own?”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“That define that instead of why am I telling you how you're gonna get paid, you tell me how you're gonna get paid based on what your edge look at opportunity is. And my job is to provide the platform for you to optimize that better than anywhere else. And your job is to optimize it here and have the free market to choose somewhere else. If you can't do that or I can't do that and embed within all those solutions or scenarios is maybe some biases or some lack of self-awareness or my mistakes in not building the right platform, we're not managing correctly, right? And so maybe as a manager of my job is really to throw the penalty flags around versus manage and tell you exactly what you're worth before I have to one's entrepreneurial and one's needing to be secure. Where does that security come from? Self inside or outside.”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“Yes. And I would rarely even initiate it. You would see people, by the way, I had one this morning. People wanted to get a sense of where they stand or how they're valued Or what their opportunity is. The future. All those are code words for how am I going to get paid? It's fine. It is what it is. Again, it would be better for those things to happen on a day-to-day basis.”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“You don't know anything longer than life. So, like, Let's live to the fullest as much as you can. Then do better than that. And when you ask someone to define their edge or their advantage, you'll learn a lot about themselves.”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source
“Really an edge these days. I mean, one of the things we hear I'm doing the best I can. I'm like, okay, well, then you get out of bed. And then what happens? I'm assuming everyone's doing the best they can. When everyone says life is too short, I'm like, well, life is the longest thing you know.”
2022-10-19 · The Tim Ferriss Show · #629: Aryeh Bourkoff — Media's Hottest Dealmaker on How to Negotiate, Rejecting Constraints, Mastering the Calendar to Create More Time, and How to Play the Long Game · IDENTIFIED FROM THE TRANSCRIPT · source