YouSaid · the spoken record

Ted Leonsis

lines on the record: 99
first: 2016-10-26
most recent: 2016-10-26
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

“I can't remember the last time I watched a movie, but it's schmuck insurance and it's hard to cancel. And it's just become a utility. I want it and I need it. Now at some point you would think a Netflix or an Apple Would become a natural.”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“And you won't watch And we'll occasionally come out with some episodic, cool original content. Like we were doing at greenhouse back in the day.”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“And I don't think that's going to work or it's going to get scale. You know, you look at Netflix, which really is probably a once-in-a-generation happening, right? That you would pay $8 or $12 a month for schmuck insurance.”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“Well, Amazon is getting into the business. It's a very interesting model, right? They're a virtual MSO already. They have prime. And they're charging you a monthly fee. And now they're adding more services and they'll raise the price. What they've decided to do in sports is rather than make a bundle and have to be good programmers, they're going to offer lots of OTT channels and content On an a la carte basis. Yeah, so you'll go to a page.”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“And so I think what you're seeing now is something like Twitter. They're trying to stream a game. And it'll be an add model, an ad business. And there's not enough content. It's not like they have every game and other leagues. It's the NFL. So I view it as a good experiment. But there's something about the magic of watching the game on a big screen and then using your device or your iPad or your laptop and interacting. So I'll watch a game and I'm on my iPhone. Twittering I don't know how it's going to work on Rather than looking up and then typing that now I'm looking down and watching the game”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“So they know because they don't have a subscription business. And so because they don't have a subscription business, they can't arbitrage the rights. If you look at what a cable company does, ESPN Buys the rights to the NBA and the NFL and Major League Baseball, and then they resell Those rights at a big markup to the cable companies as part of a bundle, and then the cable companies build that into your fee. But it all starts with what will a consumer pay what share of their wallets, so ESPN gets. Six dollars a month, I think, some round numbers, and they're in a hundred million homes. And that's become the most valuable property in media. ESPN, until the last two years, was really the most profitable. And when you own sports teams, you're in the league, you go, how did we let that happen? How did we let them”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“Well, I think Twitter needs to be reimagined. I know a little bit about the business. If you looked at AIM, the original architecture of AIM, we had a feature called Status Away Messaging, which was 150 characters. You leave a message up saying, I'm studying, you know, don't send me an instant message right now. And, you know, I thought they did a good job initially in turning that platform around and making a publishing platform. Innovating monitoring the system, it does not have a sense of community. It does.”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“Very tall. But what Joe Lacob and Peter Guber have been able to do out there was remarkable. And they made for a generation lifelong memories. 30 years from now, 40 years from now, fathers, sons, grandchildren, mothers, daughters, friends, that'll be a touch point and an indelible memory they were there they were a part of something bigger than themselves there was a historic moment that was achieved and you know that's so I that's what I want to do”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, I think that we're going to see sports and data and gaming and gambling and e gaming just being the biggest industries around and they all converge around these buildings. And, you know, our building here in Washington, D.C., we get to a half million people through the turnstiles. It uplifted a whole community. And that's the other great thing about owning a sports team. The business is important and we'll do great. But if you can win a championship, you're now out in the valley. You saw firsthand the last two years with the golden state.”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“Vibrant in Britain, everywhere. Every Starbucks, if you will, I mean, you go throughout Britain and every other Storefront is you can go in and watch Saku games and bet on them and have coffee and it's a very communal setting and it's not stigmatized.”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“Gratefully, thankfully, that's all been worked out. And, you know, it just came down to the regulating and the taxing, being able to know who's playing how much money they're putting up and how much will the states be able to get. And it reminds me a little bit of the whole conversation 20, 30 years ago on lotteries. And, you know, lotteries have gotten a bad name. But I have to remind people the United States government was founded on a lottery system. The reason that Harvard University has the largest endowment of any university in the United States is they held the lottery. That's how they built their dorms. And then they had XX dollars and they put that into their scholarship fund. And it's been earning interest since we love to gamble here in this country.”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“Well, here we're in Washington, D.C. You can grow marijuana plants in Washington, D.C. You can smoke marijuana in Washington, D.C., but you can't play fantasy gaming. You can go three miles into Maryland where they celebrate casinos. You can go drink all you want in that casino. You can gamble all you want, but you can't play fantasy games. So there's going to be. Where are we?”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“Sport radar does all of the tracking now for the NHL, for NASCAR, for tennis. And outside of the US, they're a company that's headquartered in Switzerland. They're key players in the gaming and gambling industry. And you just have to look at, you know, jobs are important, education is important, generating taxes are important. And here we have an United States say $100 billion that's being bet in the dark web, right? And not being taxed, not being regulated. And we have about $10 billion that's being bet through casinos and the like. And my feeling, my belief is that all of the states, all of the governors, all of the AGs will say this makes no sense. I mean, here they certainly.”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“And so consumers will pay for that. And so the sports programming has become very, very valuable. And it'll continue to grow in value because of what's happening around the data services and sports. We track, we metric everything. And so there's gamification happening. We just made a big investment in draft kings. I think just that whole area of not only being able to play a game in a community and make money. The engagement level of what it does to the media, because now you're not just watching the game, you have a rooting interest. And so ratings in viewership and engagement is enhanced. We also made a big investment in a fantastic company called Sport Radar.”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“I was chairman of the NBA Media Committee and we did the deal with Turner and with the SPN and $24 billion deal. And what that deal really cemented was the power of real-time live sports programming. In fact, what's been proven now is that the only thing that a consumer really values as part of the cable video package is sports. Again, I remember Seinfeld was on Thursday at nine o'clock.”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“We have good teams. We sell out every game. We renew our season tickets and we raise the prices annually at $90 to 95%. So from a business model, I said I think these teams are undervalued. And so I invested, and to be honest, it's ended up being one of my best financial investments.”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“So, you look at a sports team, it's why Steve Baummer, by the way, paid $2 billion and thinks he got a steal for the LA Clippers. We have a naming rights deal for 20 years. We have a local TV deal with our cable company where you get ownership, equity in it, and you get paid fees and there's escalators every year, and that's for 15 years. You sell suites in your building, and those contracts are for five years. You do sponsorship deals. They're annual, sometimes five-year contracts. Even your season tickets.”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“We were building an instant messaging. We invented instant messaging. We bought ICQ. We had this huge footprint and we were building telephony into it. You could have VoIP services and call services. Skype. There. And the cable company had its triple play going. So you can't do that. And so all of a sudden, we went from being Young nimble playing offense to really being a defender, and I didn't like that. And so I bought the teams and I bought the building here in DC. You say peering around the corner, I didn't think I was buying a hockey team or a basketball team or a building. I really looked at it as if it was a SAS software and local commerce company. You look at a sport. I like how you”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“And then board members and very senior people at Time One are said, we own the biggest music company in the world. Bring it back. Stop it. I said, you can't stop it. It's out. Right.”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“When the merger was announced, I retired. I didn't move to New York and I bought the sports teams here in Washington, D.C. I just love Washington, DC. I went to college here. I just feels like home to me. And I thought that local was going to be Where all of the growth was. Believe then and still believe now that you spend 80 cents of every dollar, 20 miles from your house and being situated well in a super city which DC was becoming was important. And two, to be honest, I didn't like the idea of the merger simply because I had spent the first 15 years of my career battling against and playing offense against what I considered big old dumb companies. Right. And now we owned one, and it really hurt us.”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“Talk a little bit of what happened after AOL. You became very wealthy, obviously. But it was considered a failure, that merger, at the end. Like it was a, it's always put up as a disastrous merger of all time, even though in concept it was correct. Sort of like Google Glass conceptually, it's right. Device-wise, it's wrong.”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“To do it. And when I look back now, you just have to laugh to say we owned the company and we couldn't get our old employees to do it. That's how tough they were.”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“And then I wake up one day, and basically they took everything we did on AOL, mail, messaging, maps, streaming video. I mean, you just go down the list and they did it better, faster, cheaper, and it was free. They didn't have to be dependent on access And so as the world moved to broadband, we couldn't make that transition. So we bought Time Warner. And you've worked at big companies, you worked at Dow Jones.”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“But it was just such a big merger and it became so distracting. And then I give credit to Google. I mean, I did the deal with Sergei and we went on the press tour together. And he's such a great guy. And I remember him saying, you know, we know our place and we're just going to license you some search technology. And we're so appreciative.”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“I Google, we owned along with Yahoo, I think 8% of Google at the time. Or become a next generation media company. And that was the path that was chosen. We bought Time Warner. And that really was friction in the system. Even though the base idea convergence, everything on paper, everything on plastic would become X's and O's and would be delivered on a platform. And if you had everyone's credit card and you could stream things because AOL frankly was a private internet, right? We were the original cloud-based service.”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“But that it's just such a different era, right? Honestly, the biggest thing that we did wrong was we had everyone's credit card. We built a platform. And we had two strategic roads to go down. One was to roll up and consolidate the internet by Amazon, by eBay. Yeah, you try to make Yahoo.”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“We talk with reverence about former players who led the league in scoring or changed the game because of their style of play. In business, it's not like that. The memories are very, very short. And what I have found personally is while you can glean lessons from the past, the present is especially because the people that you're serving are so different. The kids coming out of college today and the circumstances that they're entering, it's just so different. Almost wanting to lecture somebody about, well, this is how we did it, or this was, and I realize it's”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, we could tell we map simultaneous usage. I remember at our peak we would have 15 million simultaneous It's ironic. I just saw a stat the other day that more people were watching e-gaming in the month of August on Twitch. They were getting 25 million people simultaneously to watch. Then were watching the Summer Olympics on all of the NBC channels. And, you know, to think that that audience of multi-user gaming and now watching other people play multi-user gaming could be bigger than network television around the summer Olympics is just mind blowing.”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“It signals from them almost continually. That data started to come in. I'll never forget we were walking through the knock at the AOL network operations center. And you looked up on the board and you said, boy, that ER is going to be a hit. And it was because people weren't using AOL. Yeah, we.”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“Led a thousand flowers bloom, and we just believe that a Bespoke common vernacular, common UI, integrating email with messaging, with chat.”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“And I look back, I think, a couple of the big strategic errors that we made. I mean, the first one was that people loved the AOL interface, the content, how easy it was to maneuver around. I remember us being criticized because we were a walled garden, I think we were called. Not that Apple today isn't a walled garden or Facebook isn't a walled garden. Facebook is absolutely a walled garden. They've taken that. I mean, there was this whole argument about the walled garden.”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“In HD on my iPhone, I mean, it's amazing what's happened. So I think what happened to our company, we were an access provider. We got America Online. We had a perfect business model. We charged people by the hour and then unlimited to get online.”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“Number one, do you remember that? The company went public, I think, with a $400 million market cap and less than 10 years later had $150 billion market cap. The first internet company to go public. And our belief, which proved correct, was that we would make this a social medium and that, you know, I used to always talk about can Steve Case's mom Use this. We had to. Make it accessible to everybody. And I mean, that's why we would get criticized that we were too simple and it was too easy to use. But we got America Online. You did. I mean, I first got online at 300 baud. Boy, we got to 9,600 Baud. You could start to paint the screen and download a picture, right? You know, now I'm watching live stream games.”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“You know, it's the greatest age for TV. And I looked at that Apple, too. I mean, that's really what this is. But the interactivity around it is really what has been the big differentiator.”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“Well, Brandon was a true genius. He was president of NBC and Paramount and just the man with the golden gut. And he came to AOL, I think, in 1994 just to visit and said it just reminded him of television in the 50s. The stuff was not very sophisticated, but just the promise of the social adoption of the technology. And television's, I think 90 years old. I think TV was created in 1928. And now with your phone, really television in your pocket.”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“We invented instant messaging. And it's interesting we're doing podcasts now, and I mentioned this to someone we were walking inside that Adam Curry, who's very, very talented. The guy was one of the first VJs at MTV. I remember him coming to see us at AOL early on, and talking about podcasts. And we eventually bought Spinner, and Spinner's mission in life was to everyone can be a radio disc jockey. Everyone should be able to self-publish on the internet in an audio fashion. Right.”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“So we sound old, right? No, we don't do that Digital city. Digital cities. Digital cities. When we did groupon, I said, oh, this is like digital cities. This is local and social. Super early.”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“Yep, we had less. We had less than a million people online. I think there were about two and a half million people online in America. It's amazing. I just saw some stats the other day. Seven billion people in the world, four and a half billion people now connected. And the US has really fallen behind.”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“And honestly, I looked at this Apple II and these programs and I said this looks like a television to me. It's this piece of glass and there's these programs on the side. I bet you soon computers, televisions, telephones will be indistinguishable. And that there'll be this new media. Because everything gets cheaper and faster. The new media will be much more efficient, much more productive, much more friendlier. And I wanted to jump in on that. And so I started this company and We merged with Steve Case and America Online”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, I said, oh, if only one day. And I'm very proud of that early work because when I bought this Apple 2, I had the CPM operating system beside it and two pieces of software. And I just come back from this West Coast computer fair. And Dr. Bob Metcalf was talking about networks and Ethernet networks.”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, it was in Fourth Lauderdale and literally watched the PC business be birthed. And then in 1983, Guy Kawasaki and the people at Apple asked me to get involved and we worked on the launch of the Macintosh. And so, just from a very, very early age in entrepreneurial settings, I just got access to East Coast, West Coast personal computing. And I started this company. It was called Redgate Communications.”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“Which was on paper, although it was a database. Basically, became the repository for every piece of software and peripheral, for every platform. And IBM was just introducing the IBM PC. Moved to Florida to be close to.”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“And so I just got into the personal computing industry really, really early. Right. And I ended up quitting my job and starting a publishing company.”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“I remember buying the instructions for the personal computer from a guy who had them in baggies. He was Xerox like a drug deal. I paid $5.”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“It was Wang Laboratories, and Wang was the first populist computing company. Dr. Wang was attacking IBM in making computer technology accessible to office workers and to women. And I just fell in love early on. This was 1976, 1977, and was really the first generation of liberal arts major who was being introduced to computing In 1980, I went to West Coast Computer Fair. I met Steve Jobs. I bought an Apple II. Back then, it wasn't really a computer. You bought a keyboard, you bought a”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“Well, basically, we're able to say that Hemingway was not as successful later in his career and he needed some money. And he basically wrote Old Man in the Sea as kind of a work of fiction for Esquire Magazine. And turn it into a book, you won the Pulitzer Prize, and about a year later, he took his life. But it introduced me to computers And when I graduated, I went to a computer company in Lowell, Massachusetts, where.”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“And I'll honestly never forget Father Dirk and saying, this is the first time that liberal arts and technology have come together.”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“It was a good day. The sun was hot. The water blew. First chapter. I said, this is my kind of book. And I read it and went to Father Durkin, who was my advisor, and said, I'm going to do something on Hemingway. I started reading all of his work and realized how different old man in the sea, which was written in the 50s, and it really resembled his journalistic work back in the 30s. Father Dirk and this Jesuit priest connected me with the one computer scientist on campus. We had one computer on the entire campus of Georgetown as the registrar's office. In a linguistics major, and we probably wrote the first algorithm applied in a commercial application. I input the first 5,000 words of works from the 30s, the 40s, and the 50s, and Old Man in the Sea is a control. We add all these measures, and we asked the computer.”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT
“Georgetown University. Me too. I was a junior at Georgetown Hoyasaxa and had to write a thesis and was really lazy. I went to the library to find the smallest book in the library that I could find, and it was Old Man in the Sea.”
2016-10-26 · Decoder with Nilay Patel · Recode Decode: Ted Leonsis, Founder, Revolution Growth · IDENTIFIED FROM THE TRANSCRIPT