YouSaid · the spoken record

Magic Johnson

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90
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2026-02-11
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2026-02-11
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1
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  1. “I think one of the things that, I mean, but you learn this extremely quickly was the power of equity. Versus just, you know, writing a check and getting endorsements. And so. Have you seen that continue to change in terms of just more people outside of the industry that are now starting to look at equity-based deals versus instead of just trying to get traditional endorsements?”

    2026-02-11 · a16z Podcast · How Magic Johnson Built a Billion-Dollar Portfolio in 30 Years · IDENTIFIED FROM THE TRANSCRIPT · source

  2. “And better, and I have a team of people who vet those situations where I didn't before. So, so, yeah. So things have improved. I've gotten better. And so, again, what you don't have you don't have. But you learned.”

    2026-02-11 · a16z Podcast · How Magic Johnson Built a Billion-Dollar Portfolio in 30 Years · IDENTIFIED FROM THE TRANSCRIPT · source

  3. “Again, you know, there's deals that you always will think back and say, man, I wish I had did that deal. But at the same time, I'm not a guy who goes backwards a lot. I move forward. I'm always constantly moving forward. What I have is what I'm supposed to have.”

    2026-02-11 · a16z Podcast · How Magic Johnson Built a Billion-Dollar Portfolio in 30 Years · IDENTIFIED FROM THE TRANSCRIPT · source

  4. “What did I meet you? Why did I meet you by 40 something years ago? Hey, well, you gotta call my mom and call my mom. I would have loved to come. I would have loved to negotiate that with you. Exactly.”

    2026-02-11 · a16z Podcast · How Magic Johnson Built a Billion-Dollar Portfolio in 30 Years · IDENTIFIED FROM THE TRANSCRIPT · source

  5. “Yeah, Chris says there are always deals that, you know, you Wish that you had wrote the check. And you didn't, or deals that, you know You heard about too late between the Ubers and all the deals like that”

    2026-02-11 · a16z Podcast · How Magic Johnson Built a Billion-Dollar Portfolio in 30 Years · IDENTIFIED FROM THE TRANSCRIPT · source

  6. “I'm curious when you think about deals, I mean, especially when it comes to venture capital, no one bats a thousand. No. We have that called the Babe Ruth effect where you want to have the highest number of strikeouts, but you also have the highest number of home runs, right? And so you got to swing for the fences for every deal. But there's some deals that you might miss And within any venture capital form, you've missed a deal, and just that's the nature of the beast in the industry. Do you have one that you can remember where you either looked at the opportunity wrong or you missed the deal or that one just either got away? Because you got 30, 30, 32 years plus in the business, you know, if you were striking a thousand, then I'm just curious kind of if you can, and what did you learn from that?”

    2026-02-11 · a16z Podcast · How Magic Johnson Built a Billion-Dollar Portfolio in 30 Years · IDENTIFIED FROM THE TRANSCRIPT · source

  7. “Spending your money So, to that point, I've always looked for when we're in the infrastructure. Okay, let's get some experts in infrastructure. On and on and on. So that's what you got to do. So I would tell them that. That would be the first thing I tell them.”

    2026-02-11 · a16z Podcast · How Magic Johnson Built a Billion-Dollar Portfolio in 30 Years · IDENTIFIED FROM THE TRANSCRIPT · source

  8. “Because that's so important. See, you're great at what you do. basketball player, football player, singing, being an entertainer. But you're not great at business. So you have to get a team. That is great at business that you control, that is a part of your entire enterprise that can help you achieve your goals in business. And Michael Ovis always pointed that out to me. Get people who are smarter than yourself, get the right people, and always pay them and then let them do their thing. And he was absolutely right. So I'm telling all of them out there, you got to get a team of people who can help you that while you're on the stage singing, they're conducting business somewhere. Exactly. Right. They're making deals for you.”

    2026-02-11 · a16z Podcast · How Magic Johnson Built a Billion-Dollar Portfolio in 30 Years · IDENTIFIED FROM THE TRANSCRIPT · source

  9. “The next generation of talent, the next generation of whether it's athletes, entertainers that are interested in business, that are looking to invest into Silicon Valley. You know, they often like how should they think about structuring a team in today's time?”

    2026-02-11 · a16z Podcast · How Magic Johnson Built a Billion-Dollar Portfolio in 30 Years · IDENTIFIED FROM THE TRANSCRIPT · source

  10. “So to that point, Chris, I don't just want to win in sports, whereas I have 18 championship rings, I also want to win in business. So I have a mindset of winning And I'm going to do everything I can To make sure that deal or that partnership wins. And so that's why you'll get my whole team. And everything that we have to hopefully support what you're doing.”

    2026-02-11 · a16z Podcast · How Magic Johnson Built a Billion-Dollar Portfolio in 30 Years · IDENTIFIED FROM THE TRANSCRIPT · source

  11. “Right, and that's what we talk about when we say the added value You know, you want my check, but also too, you should want everything else that we bring to the table. Because I'm used to winning. I'm used to winning. I mean”

    2026-02-11 · a16z Podcast · How Magic Johnson Built a Billion-Dollar Portfolio in 30 Years · IDENTIFIED FROM THE TRANSCRIPT · source

  12. “Yeah, because we see We're politically strong. We're CEO strong, and our Rolodex is huge and long and powerful. And so we know how to grow businesses. We've been doing it for a long time. I've been in business over 30 to 30 years. And I tell them all the time. Utilize us, utilize our network, our expertise. And so then once they get into partnership with us, then they say, oh, he didn't know.”

    2026-02-11 · a16z Podcast · How Magic Johnson Built a Billion-Dollar Portfolio in 30 Years · IDENTIFIED FROM THE TRANSCRIPT · source

  13. “Let series be Well, I think, first of all, you're right, is it something that is not in the marketplace? Can we really look at this 10 years from now that it's going to still be here? It's going to steal. It has growth potential. Hopefully, year in and year out. And then do we have a chance to exit or sell, you know, down the line? And so, and then the partners, I want them to make sure that these founders and these great people, they have skin in the game. They also are great and they're experts at what they do. Yep. And, um, We then also look at it can we bring added value?”

    2026-02-11 · a16z Podcast · How Magic Johnson Built a Billion-Dollar Portfolio in 30 Years · IDENTIFIED FROM THE TRANSCRIPT · source

  14. “It's about timing. See, people forget about that part of it. It's about sometimes it's just not your time to do that deal. Yeah. Or have that opportunity. Just lined up perfect with the right people, being you, then Ben.”

    2026-02-11 · a16z Podcast · How Magic Johnson Built a Billion-Dollar Portfolio in 30 Years · IDENTIFIED FROM THE TRANSCRIPT · source

  15. “That deal provided me with a track record in Silicon Valley and then opened up the doors for me to see other opportunities that I didn't get a chance to see. And so again, I want to thank you, thank Ben, for The opportunity that I had. You two also, my friends. Absolutely. So it's sometimes.”

    2026-02-11 · a16z Podcast · How Magic Johnson Built a Billion-Dollar Portfolio in 30 Years · IDENTIFIED FROM THE TRANSCRIPT · source

  16. “That's right. That's right. That's right. And so that really excited me. And I think it took me and my company to a whole nother level because That brought me into Silicon Valley. I didn't have that in Silicon Vall”

    2026-02-11 · a16z Podcast · How Magic Johnson Built a Billion-Dollar Portfolio in 30 Years · IDENTIFIED FROM THE TRANSCRIPT · source

  17. “And so, uh, I just needed that foot in the door, and you provided that foot in the door for me. And also Ben as well, knowing him. And so here comes this opportunity with Scotty and the drones and Be able to be an early investor”

    2026-02-11 · a16z Podcast · How Magic Johnson Built a Billion-Dollar Portfolio in 30 Years · IDENTIFIED FROM THE TRANSCRIPT · source

  18. “First of all, when you go back, so did the movie theaters with Peter Gruber and Magic Johnson Theaters. Howard Schultz and I did Starbucks 125 stores and 40 different markets And I just told you how he taught me so much about customer service. And so I was looking for what's the next growth opportunity for me and my company, right? Because we want to continue to evolve, grow. And think outside the box. So I said, wow, all the money is going toward Silicon Valley. And so, how do I get into that world, right? And then here you come.”

    2026-02-11 · a16z Podcast · How Magic Johnson Built a Billion-Dollar Portfolio in 30 Years · IDENTIFIED FROM THE TRANSCRIPT · source

  19. “No, no. It's building your network, it's building, like we talked about, your Rolodex, and then it's going to lunches and breakfastes and dinners And because those were places are where the deal makers are, those places are where the billionaires are, the multimillionaires are. And so I learned that early on. And so when I got invited, I went. And then I went early over and said, go early because all the richest people.”

    2026-02-11 · a16z Podcast · How Magic Johnson Built a Billion-Dollar Portfolio in 30 Years · IDENTIFIED FROM THE TRANSCRIPT · source

  20. “Yeah, no, but that's where it is. Born businesses, that's a secret. Everybody wants to find the hottest company. And sometimes that might be, it might go up. And then next thing you know, it could be a trend.”

    2026-02-11 · a16z Podcast · How Magic Johnson Built a Billion-Dollar Portfolio in 30 Years · IDENTIFIED FROM THE TRANSCRIPT · source

  21. “I think one of the things that you can be a sponge of is not just one specific industry, but multiple different verticals, right? So you said from food and beverage to hospitality to now the insurance business. And now, you know, sports, media, entertainment, there's so many different variables, but all kind of having that one consistent vehicle or mindset in terms of service and really over delivering is important.”

    2026-02-11 · a16z Podcast · How Magic Johnson Built a Billion-Dollar Portfolio in 30 Years · IDENTIFIED FROM THE TRANSCRIPT · source

  22. “And it's okay, you know, and so I am happy about that. And these partnerships have been huge and lucrative. But I learned so much from each individual. And so they taught me so much. And I was like a sponge. I wanted to get up under them and learn a lot.”

    2026-02-11 · a16z Podcast · How Magic Johnson Built a Billion-Dollar Portfolio in 30 Years · IDENTIFIED FROM THE TRANSCRIPT · source

  23. “I've been blessed to create not only great partnerships, but also having these people as friends as well. You know, and so then I just carried that on to all the other things. Mark Walters today. You know, Peter Gruber, you know, all these guys who I'm in business with. But Dr. Jerry Buss treated me like I was his son. And I think that when I think about Our relationship and him opening up the door for all these other people, for me to meet them and them to become my partners. So, I really look at it like. When you come into business with these people, you have to play your role and do your part. As I tell them, what bro do you want me to play in this part?”

    2026-02-11 · a16z Podcast · How Magic Johnson Built a Billion-Dollar Portfolio in 30 Years · IDENTIFIED FROM THE TRANSCRIPT · source

  24. “When I think about Starbucks and, you know, really. Understanding When you think about customer service That's what really taught me everything I needed to know about customer service. Having a great partner and going into Starbucks stores and really understanding the business side of it. And a cup only cost less than 10 cents or 15 cents at that time. And then the sugar, the beans.”

    2026-02-11 · a16z Podcast · How Magic Johnson Built a Billion-Dollar Portfolio in 30 Years · IDENTIFIED FROM THE TRANSCRIPT · source

  25. “Yeah, you're right because Build a fabulous relationship when you think about what Ron Berkele. And you Kaiper, and we did the equity deal, the private equity deal, we did some amazing, we bought some amazing companies. But I knew Ryan for 10 years before we actually did a deal together.”

    2026-02-11 · a16z Podcast · How Magic Johnson Built a Billion-Dollar Portfolio in 30 Years · IDENTIFIED FROM THE TRANSCRIPT · source

  26. “Well, I mean, because even on our business, there's three different sides. First, you have to be able to see the deal. Like, and say, and then, okay, the deal that comes in, then after that, the next stage is saying, okay, I actually want to make that investment. But the third stage is actually the most important stage, which is winning the deal. And that's kind of like how you're talking about in terms of being able to identify those right opportunities and then being able to then execute and do a right deal on top”

    2026-02-11 · a16z Podcast · How Magic Johnson Built a Billion-Dollar Portfolio in 30 Years · IDENTIFIED FROM THE TRANSCRIPT · source

  27. “Right. So I wouldn't be where I am today without Michael Ov About everything that he did for me making me smarter Make me understand business Made me understand deal making Make sure that you go in and you ask questions and you really get the knowledge. She was big on making sure you had the knowledge. Being an expert. At not only deal making, but also understanding the deal, also understanding the sector, whatever you're getting involved in.”

    2026-02-11 · a16z Podcast · How Magic Johnson Built a Billion-Dollar Portfolio in 30 Years · IDENTIFIED FROM THE TRANSCRIPT · source

  28. “Hey, Michael. And so as he was talking to him He would always introduce me to him. Yep. Everybody that came over he would always also make the introduction to me. About six months later, I'm meeting all these CEOs of companies. Through Michael. And so then here comes the Pepsi deal When I became a franchisee of Pepsi, he put Earl Grayson together. And man, that took off. Here comes Starbucks, all these things. Because he was right in the middle of everything. And then the last thing he did, he reworked my contract. To make me one of the highest paid in the NBA. But he did it. And then I said, well, how much I owe you? He said, I don't want nothing from you.”

    2026-02-11 · a16z Podcast · How Magic Johnson Built a Billion-Dollar Portfolio in 30 Years · IDENTIFIED FROM THE TRANSCRIPT · source

  29. “Deal making and also making sure you have a long and big rollodax. Yep. And you might not need the people today, but you may need them tomorrow. And so what he did, I remember we go to his favorite restaurant. That's when Morden's was the place to be. And he had the table. He had the one table. The table in the middle. So he says.”

    2026-02-11 · a16z Podcast · How Magic Johnson Built a Billion-Dollar Portfolio in 30 Years · IDENTIFIED FROM THE TRANSCRIPT · source

  30. “Get something done. I had a pain in my pocket. And so a couple weeks later, he calls back and he says, I checked you out. And Dr. Buss told me that you were serious. And he says, okay, come back. So I came back and he had a stack of magazines. And he said, here, you read these. And I'm going to give you a test. And if you pass the test after reading all these magazines, then I think about representing you. So of course I went back and read that same day. I read them all, right? And then whenever he called me a couple weeks later, I went back, he did the test. I passed the test. And he said, I see you serious about becoming a businessman. So he took me all around town, meeting everybody. We met for lunch a lot. He loved meeting at his favorite restaurant. And this is, he taught me so much, not just about business. Yes, the art of”

    2026-02-11 · a16z Podcast · How Magic Johnson Built a Billion-Dollar Portfolio in 30 Years · IDENTIFIED FROM THE TRANSCRIPT · source

  31. “And I'm sitting in the lobbyist, three o'clock, it's four o'clock. And now finally it's five. So the assistant come out and get me. And I go into his office and he shakes my hand. The first thing he says, you know, I don't know about representing you. Athletes, they spend more money than they make. I don't know if you're serious. I don't know if you have what it takes to become a businessman. I represent everybody in Hollywood. I got all the producers, the directors, the actors, actresses, the writers. He said, you know what? Nice meeting. And he threw me out. I came here for”

    2026-02-11 · a16z Podcast · How Magic Johnson Built a Billion-Dollar Portfolio in 30 Years · IDENTIFIED FROM THE TRANSCRIPT · source

  32. “In Los Angeles and in the country, right? And so I said, okay, so I reached out to Michael Ovidz. And I said, hey, I would like to take a meeting with you because I want to become a businessman after my plan career is over. And he said, all right, come on in. So, Chris, I get there. And I think the meeting was around 2 o'clock. Of course, I'm early for everything. Yep, yep. So I got there about one.”

    2026-02-11 · a16z Podcast · How Magic Johnson Built a Billion-Dollar Portfolio in 30 Years · IDENTIFIED FROM THE TRANSCRIPT · source

  33. “Yeah, I told Dr. Jerry Bus, the owner of the Lakers that I wanted to become a businessman. Became my first mentor. But then he told me, listen, you need to meet a guy named Michael Oakens, the King Dealmaker. Of course.”

    2026-02-11 · a16z Podcast · How Magic Johnson Built a Billion-Dollar Portfolio in 30 Years · IDENTIFIED FROM THE TRANSCRIPT · source

  34. “He was like, You need to first order a business. I need you to have a breakfast, lunch, and dinner meeting every single day for a year and then come back to me and let me know what you learned. And I was like, this is the craziest idea that I've ever like, why are you telling me this? But then after going through that journey and understanding how to build a network and understanding how he thought about things was really important. But I say that because he also first talked to you when you were thinking about getting into the game and sitting down having that same conversation. So I don't know if you could just go flashback because obviously he's always on to somebody. He knows how to pick the talent.”

    2026-02-11 · a16z Podcast · How Magic Johnson Built a Billion-Dollar Portfolio in 30 Years · IDENTIFIED FROM THE TRANSCRIPT · source

  35. “I don't know if you know that, but the firm was actually built off of CAA's model, and Ovitz was on the board of Market Ben's company. And so that's where they originally got the idea for A16Z and having a service-based model. And so when I first got the job and started working at the firm, I got a chance to meet Mike, and my position was actually, it was a code word. It was called Mini Ovit. And so I was like, Ben was like, we can't call you Minnie Ovid. So we got to, and this is never, no one knows about this. So it's like, we got to figure out A very specific strategy, and the funny story is that he told me he was like, look, Chris, first sitting down and I came from the entertainment industry as well, too. And so I needed a gap in order to understand how to think about things.”

    2026-02-11 · a16z Podcast · How Magic Johnson Built a Billion-Dollar Portfolio in 30 Years · IDENTIFIED FROM THE TRANSCRIPT · source

  36. “Well, I might have played a big part on the investment side in terms of getting people into Silicon Valley and getting them and understanding the benefits of equity versus endorsement. You were the one that actually pioneered getting into business itself. And a funny story that actually inspired me, and I think that we have one tie in from the very beginning, and that's actually one of my first mentors when I first got into Silicon Valley, and that was actually Michael Ovitz. And so.”

    2026-02-11 · a16z Podcast · How Magic Johnson Built a Billion-Dollar Portfolio in 30 Years · IDENTIFIED FROM THE TRANSCRIPT · source

  37. “Again, thank you because you brought me in, though. I think a lot of times Somebody has to pull your coattail, somebody has to make sure that you can see deals or you can see opportunities. And I want to thank you for 10 years. Making sure that I had a chance to see these great opportunities, that I have a chance to invest in. So again, You being in there or being an executive, being a deal maker yourself, and then bringing in so many different artists and athletes. Absolutely who now can say they're businessmen or businesswomen because of you.”

    2026-02-11 · a16z Podcast · How Magic Johnson Built a Billion-Dollar Portfolio in 30 Years · IDENTIFIED FROM THE TRANSCRIPT · source

  38. “Look, I think that, you know, like you said, this is a culmination, I think almost 10 years from investments to conversations to Having you come up to San Francisco talking about venture, expanding the portfolio, and we wanted really just to take the time today.”

    2026-02-11 · a16z Podcast · How Magic Johnson Built a Billion-Dollar Portfolio in 30 Years · IDENTIFIED FROM THE TRANSCRIPT · source

  39. “Thank you, man. It's all the great things that you and I have been doing for these years. And now we get a chance to sit down. I think this is important for a lot of people and a lot of different reasons too. Absolutely.”

    2026-02-11 · a16z Podcast · How Magic Johnson Built a Billion-Dollar Portfolio in 30 Years · IDENTIFIED FROM THE TRANSCRIPT · source

  40. “Get people who are smarter than yourself, get the right people, and always pay them and then let them do their thing. If I did that deal in 1979, it'd be over a billion dollars. So that's the one that... You talking about one that got away?”

    2026-02-11 · a16z Podcast · How Magic Johnson Built a Billion-Dollar Portfolio in 30 Years · IDENTIFIED FROM THE TRANSCRIPT · source