From Marhart where Innovation, Money and Power Collie in Silicon.
Valley, NBON. This is Bloomberg Technology with Caroline Hyde and Ed loud Love.
Live from Los Angeles, California at Bloomberg screen Time.
I'm Caroline High and I Med Ludlow.
Coming up, we'll have full coverage from the event, covering the intersections of Hollywood, Silicon Valley and beyond.
And look throughout the program, we're going to be hearing from industry leaders Ari Emmanuel have Endeavored, Donna Langley of NBCUniversal, Nora Meeli of EA, and so much more.
Screen Time gathers moguls, celebrities and entrepreneurs defining the next phase of pop culture.
We'll discuss and debate the.
Future of cinema, the boom in streaming audio and video, the latest sports and gaming sperience, is in the potential impact of artificial intelligence, and much.
More, including of course, no what has been top of mind for all investors, for all executives, indeed all citizens. To add at large, we are thinking about the war between Israel and Hamas. That's where the conversation started. One of the most prominent Hollywood executives, Ari Emmanuel Endeva, and TKO Group holding CEO himself Jewish. He sat down with Bloomberg's Lukashaw.
He nominated a Minister of Homeland Security that didn't even serve the mandatory military term required in all of Israel. He nominated a second Minister of Defense who barely was a soldier. He fired the minister who was a general and had to bring him back because of public pressure. He refused to meet with key military figures. He was trying to change the Supreme Court because he had to keep himself out of jail.
And this led to a vulnerability that is unprecedented.
And this would be like thirty thousand Americans dying in nine to eleven. That's what happened in Israel. And I just think it's time that we get rid of this man.
That was Ari Emmanuel Endevor Antikoco. I want to bring in Bloomberg's Lucas Shaw, managing editor leading our screen time coverage. You have put this event together, and my goodness, in terms of an individual name, what a way to start. I thought there was one rule in Hollywood you do not go in public and talk about your biggest competitors, and Ari Emmanuel did that and he had strong words for CA in particularly explain that to us.
Yeah.
Look, Ari Emmanuel has never been shy about criticizing his competitors. He's perhaps one of the few people who who doesn't follow that rule. He as he does, went out of his way to criticize them on two fronts. One was specific to this lawsuit that's related to Harvey Weinstein and assault and what CA may or may not have been involved in with that. I'm not going to get into specifics of it because it's a lawsuit and honestly I'm
not the expert. All I do know is that I'll be asking in CA CEO Brian Lord about our's comments later today. He did also, of course criticize the business because he has taken a very different path from CAA. He has built a media company off of a talent agency, where a CA has really struck the talent representation, and I think Ari prefers his choice, and.
Of course his choice being what they discuss of a flywheel effect, this idea that they're able to make acquisitions, able to build on particularly sports with media, and this is why we want to go with the next piece of well conversation you had yesterday just discussing the PGA in particular.
Take a listen, we put in our bid, Yeah for what for the PGA deal for a piece of the tour or for the whole thing for the PGA.
Yeah no, a piece whole.
You can't. You can't buy the majority. Okay, thank you. I would love to.
Now, on the sports rights front, a lot of this is predicated on that market keep continuing to increase.
That has been.
Ballooning for a long long time, given what you're seeing with the kind of continued collapse of TV.
The way that Okay, I'm not going to.
Interrupt you, Okay, n if you have a ten year deal with linear television ten years, okay.
The linear business is not going there.
They've also made deals on digital. We did the same thing, ESPN, ESPN Plus. On the USC side, wwe did Peacock Showtime I mean, USA Network.
And Fox, which is whatever. So the linear business is not going anywhere. The sports business.
Is moving and is going to figure itself out between digital and linear. It's an unbelievably healthy market. They all have to be in it.
They all want to be every single one of the.
Players want to be in it because of the audience we have two assets in the sports businesses that don't have our year long, don't have a season. I don't believe prices are going down. You're going to figure out the bifurcation of the rights and give things up, not give things up.
How long do you think it is before Netflix actually jumps into sports?
You know they're in sports right now. They just do the shoulder programming. Yeah.
I think their point of view, and you'll last ted tomorrow is we build up the We don't want to be in the bidding of rights and then not have any long tail.
So I'm not sure if they did bid on Formula one and but Yespan got it.
So I think that was a smaller package, meaning smaller economics.
So we'll see that.
We've We've gone through all this time without talking about Hollywood, So now I got to ask you about that Hollywood.
Yes, Oh wow, I was all I only studied about sports.
Yeah, I think you're you know you're talking about Do you still consider yourself an agent?
Yeah, I'm in it. I'm an agent. Yeah.
I got Marty's movie coming out, Marius Scorsese's Yeah.
Yeah.
I just finished a pretty significant two significant deals at Netflix for significant amount of money for two big.
Clients to share. I think they've got a with Tyler Perry and David Ellison.
And yeah, I mean I'm I'm in it every day with clients every day.
He's still an agent, he's still a deal maker, Lucas and that was another interesting furrow of conversation for you. Ultimately, UFC wwe coming together. This is why he's got a new name. Tko CEO two.
Yeah, I would love to know if you could talk to Ari Emmanuel in like the late nineties, early two thousands and tell him he was eventually going to be the king of combat sports. I don't know that he would have believed that. I mean, he has clearly always aspired two more. He doesn't want to just be an agent. He wanted to build an empire, and he has acquired like thirty forties.
The empire building continues.
That was what was amazing on stage, the little hints he dropped about the rights deals, six bidders, talking about raw and SmackDown. You know, he doesn't hesitate to say, oh I got this, we're doing business.
Yeah.
Well look he's done it before.
With the UFC.
People doubted him.
They didn't think he'd find a deal, and he ended up getting Disney to pay him off fortune and it inflated the value of UFC by billions of dollars.
Can you go.
Into that element of trying to explain it feels like to ant to investors what his business is all about?
He kept he tried.
Yeah, I think he's kind of turning to this idea that is sort of he's misunderstood. Well, how do you buy that?
Well, he's always had this problem.
Right when Endeavor first went public or tried to go public, they called it off because people didn't know what they were buying. They had half of UFC, but not the whole thing. Then they had all these other things like professional ball writing and the talent agency, and nobody really knew how to value it. Yes, and it's still a hangover for the stock because yes, they have TKO as like simplified UFCWWE, but then they have all these other assets in Endeavor, which owns a big piece of TKO.
And he has tried every time I've spoken with him a lot of his media appearances to kind of convince investors otherwise, and so far it just hasn't worked.
We had the charts off on the screen, right off the share prices of each of those companies, and him sort of turn over his shoulder and go, that's not right.
You know, it should be going in the other direction.
He is regarded still a super agent, and he actually kind of gave some details about deals he's done recently, four clients with Netflix.
I was surprised to hear that.
Well, the Tyler Perry one. I don't know if it had been announced or not. That David Allison one has been reported but not officially announced. I assume that he was referring to this NFL project that that David Allison, who is Larry Ellison's son and a big deal Hollywood producer, is doing with Netflix. He obviously didn't get into the specifics, but one of the great things about interviewing Ari is that he's just a little more open and transparent than most media executives.
Well, let's talk about some of the other media executive You're gonna be speaking to you later on the day, because I'm going to sure we got to tease out some open and from all of them.
Have you got Yeah, we got ten surroundas to start the day. Co CEO of Netflix said about ten Pacific. Then we've got the CEO of YouTube, Neil Mohan. Later in the day, we've got the kind of king of K pop, Banksy Huck.
Let's see.
We got c's Brian Lord, who will probably respond to what our Emmanuel said. We got Bill Simmons, the podcaster Chris Jenner. It's going to be a great day.
It is going to be a really great day.
You know, we're framing screen time is where Silicon Valley meets Hollywood, but that is completely true. Think about the names that Lucas just reeled off, Netflix, YouTuber, property of Google, Alphabet. This is really happening, as you know, spare a thought for video games. How you know the billions of dollars behind that industry, and we're gonna have some really good conversations about that too.
Yeah, throughout this particular show, I also think cudos to Lucas and Lucas Shawy, thank you for joining us on televisions. Go scootle off to go and do some of those
key interviews. But I think what's really notable is the amount of diversity that we've got here as well, women, men, people of color, and I think that's going to be a really thoughtful conversation with some of the key investors that we're going to have on the show is ultimately, how are you still thinking about diversity in Hollywood as well? Live from Los Angeles, California and Bloomberg's screen Time, I'm Caroline Hyde.
And Imed Ludlow.
Look, this is a massive industry we're about to talk about. It's not the silver screen, it's video games, and what a moment this industry has had this year. We're delighted to be joined by EA Entertainment.
President Laura Meeli.
I worked out overnight that the first year I played FIFA the globally recognized football or soccer game was in two thousand and two.
Tierryon Ree was on the cover of that title.
Amazing.
The big development for you is you've renamed EAFC and you've changed the deal with FIFA. That's well documented. It's been about a week of full distribution. Can you give us a sense of how that's gone. That was a big change for a lot of fans.
Oh, it's a big change for all of us in the industry. We're so optimistic about what this change means for our future, and we certainly will talk more about FC and our earnings call. But I will tell you early reads from our players which matter the most, that the sentiment is very high, engagements high, and they're incredibly
excited about the quality of the game. And this is just an incredible moment for us to launch our own brand MBA Sports Football Club FC around the world, and so we are looking forward to another thirty years of incredible game experience as we get to bring to players.
I just want to jump in out.
You know your job is the licensing the studios. Will you have it to ever go back to FIFA, and you know, the point was that they asked for too much money, right.
What we saw was a great opportunity for us to actually have more flexibility, more creativity. We have over three hundred clubs in the game, so it allows us more deeper partnerships with them. It allows us to have partnerships with place with people like Nike, which is great for our players, and we can also have more creative creator tools for players in the game. So it's really a significant opportunity for us to evolve and change the experience
and we will. FIFA is a great partner for us and we had a great partnership together, so we will we will look to potentially do World Cup partnerships in the future as possible. So it's it's just a bigger future, more expansive, is how we're thinking about it.
Let's talk about creative tools and the studios with which in way they developed these games. Right now, the oxygen is sucked out the room all around AI this year. Is that something you've been leaning into thinking about the way in which this is going to really supercharge the way in which you can provide content? Right now?
AI is such an exciting topic, isn't it? For so many companies, and particularly for gaming. And I would say, and I just I also went back to the archives and was thinking about AI for electronic arts. We're such a native AI entertainment company. Back in nineteen eighty eight, twenty two of the players and Madden were AI players, and so we've always have been connected to it. But this is certainly a new era and certainly a new phase for AI, and we are thinking about it in
three ways. It's definitely going to optimize what we have for tools and workflows and help our developers and players create more better experiences. There's also going to be a significant expansion, expander of content and frequency and how we show up, and it can also be an incredibly transformative with business models.
Our scale.
We have seven hundred million players in our network and so the idea around moderating content for them and keeping communities safe is going to be as going to plan a meaningful role for us in that transformation in our scale.
Laura, what's interesting is going back in your rochives, you've been at the business for twenty seven.
Years something like that.
I was very young, very young, but you've scaled. And what's interesting is when you look at your titles, you've been well highlighted. Is one of the most powerful women in sports, so you're on the board of governors to the British Film Institute. Like this shows the power of gaming because it isn't just about gaming, it's IP and it's very nature intern Yeah, tell us about the scale of the industry. Does it go on notice sometimes do.
You think, oh gosh, perhaps, I mean gamers. There's three point five billion gamers in the world, so they certainly are noticing what we're creating. And it's the close to a three hundred and fifty billion dollar industry, so it's significant. And certainly outsizes some of the media, you know, the movie and TV content for sure. But the thing I'm most excited about is what gaming brings to culture and what bring gaming rings to society.
So gaming is.
Certainly about play. People are creating, they have creative self expression in our games, they're watching other people play games, and most importantly, they're socially connecting around all of this. And so it is a sizeable industry. A lot of people play games. We are incredibly inspired by that, and we have such a runway and so much growth ahead of us. You think about gen Z gen also, they have grown up like this is their number onement medium,
They're number one preferred choice. And so the idea that that is that this is ahead of us, and that they are just entering into market and then generations behind them. I'm just optimistic about the growth ahead.
Still, the seismic shift in your industry is Microsoft's acquisition of Activision. If it goes through as expected in the Connect couple of weeks, where does that leave EA. You're basically the biggest independent studio left.
So do you become a target?
Frankly hard question, but how do you stay competitive?
Well?
What an amazing deal, right, I mean, I believe you're positive about it. I am positive about the deal. This is this, this will look to be the largest technology acquisition in US history. I believe you will know more than I do about that. And it's and it's about a gaming company, and so I just think it punctuates the significance of gaming and the role that we play
in media and entertainment and technology. So I'm very optimistic about what this all means as an expander of how we're seeing and how we can partner and the significance of gaming and culture in general. And for electronic arts. We you know, we know that making games is hard.
Actually it's a very.
Very complicated, high form of media. A lot, yes, and a lot of money, a lot of time, A lot of companies have tried, and so yes, of course, I would imagine that companies are interested in electronic arts because what we do is very hard, and we are very good at making good games, and so but I would say that we're just mostly focused on our strategy, mostly focused on the future and executing really well for the growth plans that we have ahead.
It's so wonderful to have some time with you and the work you've done in diversity and showing that it's a diverse community that's building AA over there with you as well. We really appreciate it. EA Entertainment President Laura Merely, We thank you for a time so much more ahead across the world of entertainment. You've got exclusive access right now to Bloomberg screen Time.
Okay, live from Los Angeles, California, Bloomberg screen Time.
I'm Ed Ludlow, I'm Caroline Hyde and here at screen Time, they've identified the ones to watch in the future of business, the entertainment Hollywood fuses with gaming, and we're so pleased to really dig into what the future of content is, where you're making it, how you're consuming it. With Paige Elkington, she's a content creator, she's a podcaster, and also she's been featured as Bloomberg Business Weeks want to watch page Welcome, Hi, thank you for having me.
How do we.
Describe what your role is?
Yeah, like, what's your job?
Yes, exactly. I am a very annoying multi hyphen it that is very popular these days, but I have.
Multiple income streams.
But I make content mostly for brands to help sell their products, and then I do traditional acting and podcasting and writing as well.
And the reason brands come to you is because of your reach, because of the impact you make in the content you've produce across platforms. What do you make of the content that you could be putting out? Where do you align yourself? Is it TikTok is the sure about Instagram? Do you still even go on x so?
I think TikTok is absolutely the future. I think in terms of TikTok ads, the amount.
That you can go viral on TikTok.
Is so significant. I mean, I think if you.
Have a podcast and you have a particular SoundBite that goes viral, you overnight now have this massive following that you didn't have before. Or if there's a product, you're being pushed a product by an ad by someone who's authentically selling it to you in a relatable, sometimes like comedic way, and I think people really relate.
To that, like I did with your video underwear.
Right on YouTube.
But here's the thing, So, after you were announced on the Ones to Watch list, Caroline and I look at where we can find you right everywhere? Frankly, yeah, x the formerly known as Twitter YouTube TikTok So do you make a piece for each one, or do you just say, Okay, I'm gonna make a video and I'm just gonna send it for far and wide, like it's very time consuming and energy intensive.
Well, it depends on the client, So with different clients, the scope of work is completely different. Maybe it's a YouTube ad for one client, maybe for another client it's UGC content, which is user generated content.
You have different numbers of followers on EAH.
Yes, yes, but sometimes they're pushing it just on their socials. Sometimes I'm pushing it online. It really depends on the client, what the deal is, how it's structured.
Ultimately, you embracing the world of osufficient intelligence to enhance.
The way in which you can produce content.
The only way I'm embracing artificial intelligence is through chat GPT. I use it every day, mostly just to make pitch decks for different brands.
And then sometimes for research.
But that's it.
How confident in the long term stability of the world in which you work do you feel? How much you think you continue to monetize in the way that you currently monetize.
I think.
I feel very good about it, because I think that's the way.
Things are moving.
I think we're moving away from traditional commercials and traditional advertising, and we're moving more towards these kind of like micro influencers and comedians all driving or working with brands to sell products. Like I feel that that's the way marketing is going and advertising is going. Like I buy more things from TikTok ads and Instagram ads and YouTube ads than I ever did from like commercials on television.
So I think it's a good lane to be in.
You have a good following but not massive, right, I think it's fair to say, who do you look up to? Who are the content creators you try and.
Model yourself after? Well, where is that the wrong strategy?
You know?
I kind of look to a lot of different people, like podcasters.
I look up to people like Bobby Altoff.
She's like one of these people who blew up overnight, And that's exactly what I was trying to say earlier. She had one podcast episode with a very hilarious comedian that blew up and her next guest was Drake.
But that's just because.
These little soundbites went viral on TikTok. So I look up to people like that who take really interesting angles with their podcasting.
Thanks to Paige el Kington Content create a podcast straight from the ones to watch lists to our studio here in Hollywood.
We are live from Los Angeles, California, and right here at Bloomberg screen Time. I'm Caroline Hyde and.
I'm Ed Ludlow and look in the background, writers strike done, Actor strike continues. This is a really exciting fun event, but very serious discussion happening on the ground as well.
Yeah, exactly about how the allocation of capital is currently distributed around Hollywood and in fact how content is produced as well. Where winning formula. The perfect guest yesterday was gone A Langley, which is chief content officer over at NBC Universal and boy who she had some winners this year.
Here's what she had to say.
The big picture is it has never been more I would say volatile. I mean it has, but you know, it continues to be volatile. But like you said, we
did see real signs of life this summer. So generally speaking, box office is down globally around twenty percent to twenty nineteen, so pre pandemic levels, but this summer it was five percent down right, So it would suggest that even though there were winners and losers of this summer, and obviously we had the two big juggernauts with Bobby and Oppenheimer.
You know, movie going begets movie going, right, So when there's a good a season filled with you know, good movies that people want to see, you know, I was pretty I was made to feel pretty optimistic about what we saw in the summer.
What you mentioned Oppenheimer, we can talk about Barbielo.
That's not one of your movies.
Your two big movies of the year were Mario and Oppenheimer. Which of those was a bigger surprise to you?
I think probably Oppenheimer, you know, I mean an R rated film with that subject master and you know, at the at the at the running time, and I wasn't surprised that it was successful, right, I mean, it's Christopher Nolan. We know that he is a singular filmmaker who audiences globally really want to go see. But I was really surprised at at the sort of the breadth of the audience.
The demographic its skewed from you know, from young from you know, young kids to not young kids, but teenagers all the way up to you know, an older audience. So it was it was pretty surprising.
You use the word singular to describe Christopher Nolan. I'm wondering because in conversations I've had, at least in the last few few weeks a few months, there seem to be some people who are drawing conclusions from Oppenheimer seeing that as a really good sign, say for the Martin Scorsese movie that's about to open, or other very long, big dramas. Do you do you feel like the success of Oppenheimer says anything about the business or is it
the case that Chris Nolan is just a filmmaker. Like from where I'm coming from, at least Chris Nolan and Quentin Tarantino seem like two filmmakers where if they make a movie, they're like a brand, right, even if they're original, people will show up to see them.
So I'm not sure if you get what I'm saying.
I'm not sure if that means anything for even a Martin Scorsese because his movies their performance have been less consistent.
Yeah, I think, you know, I think in the case of Christopher Nolan, he makes films for the big screen and really for the big screen only. Of course, you can watch a Christopher Nolan movie at home and eventually you'll be able to do that. But you know, he he, I mean everything he does, from choosing on Imax to you know, to seventy millimeter to the way that you know, he really encouraged his films, encourage audiences to experience his
films on imax screens and in the large format. I think it all speaks to again I use that word, a sort of singular cinematic experience. You know what you're going to get, not subject matter wise, but you know you're going to get a very fulfilling experience at the movie theater and sort of quite frankly value value for your money.
I mean, you've just.
Heard from a power player in the world of entertainment and Dame no less than Okay, And what struck me was the very simple message about what's happening with the actors strike right now. There is a risk that next summer there are no movies, no films at the box office, and that is a big concern for them, and that's the impetus to get something done on these strikes.
Yeah, and ultimately protecting and reevaluating how money is allocated, how you protect them from the future innovations that come in the world of entertainment, sports, AI of course being.
To the mind, and the consensus that Oppenheimer was a huge surprise hit.
I thought that was really interesting. Let's keep the conversation going.
Joining us now here in Hollywood, Cherie Clark Suarez of Harbaview Equity Partners and investor in intellectual property essentially right. I know you have an emphasis on music. Your firm looks across the entertainment space.
What's business like for you at the moment. It's a fight out there.
It's a fight out there. It's so good to be here with you guys. You know, business is great. We've got a lot of opportunities in the landscape to really be thinking through how we can be supportive of creators with capital, to really support kind of what their next
phase of their life cycle looks like. In particular, you know, after the summer of strikes and you know, obviously looking to see some resolve with respect to the actors strike, you're seeing a lot of creators start thinking about how they can engage with capital partners differently, and so we're excited about all of those opportunities. We spend a lot of our time in music. We buy a lot of
music related cashlows and IP. Yeah, because we believe in how non correlated it is and how perpetual the asset is and how important it is to the human condition.
Can you push us forward in terms of what income revenue stream looks like for you? You've built businesses for Morgan Stani for ge in terms of allocating capital, this is your second time building your own business. Yeah, what is the monetization value in music?
Right?
Yeah?
So music rights? I mean, I think you know we're here a Boomberg screen time and we're talking a lot about how technology is really empowered, how consumers can really pull content and the content they're really interested in, and so that's really allowed for obviously streaming, and how streaming has really democratized how consumers can engage and the music
space has really been a big pull through. But certainly what you're also seeing, which I think you're seeing also across the media space as well as you're seeing that you know, highly engaged, diverse audiences can now tell you where they want to spend their time. We're fortunate in our portfolio to have the Song of the Summer, a bios by es Laban Armado and Festolfool Luma, And that's largely because we see real value in deep engage audiences and we try to really and find ways to invest
behind them. And as you do that, you can participate in the overall economy of how music is engaged. We're listening to music right.
Now, actual though, that's crazy, Like I get the strategy get in early. Yeah, the talent before one of the big players comes in. That you think about when you're scrolling through Instagram reels or TikTok. You have these people posting their own content, incredible talent vocally or as musicians about how people watch music as a video on YouTube.
How do you play that in that market? Yeah?
I think for us in terms of playing that market because we are so connected to the original IP and owning the original IP wherever it's used, however it's engaged, it's places where it's a monetization event that allows for our investors to benefit from that monetization. So whether it's TikTok all the way through to YouTube, to Spotify, to Apple Music, to watching things in that and formats, those are all places that create value for the underlying IP that we own.
Who are your investors and how are they changing this economic landscape.
Yeah, so our investors, you know, we're a private equity and asset management firm. Our investors are very traditional investors that you would see in any other private equity and asset management firm. So pension funds, endowments, foundations, large scale partners that we have a very strong partnership with. The team at Apollo is a big partner of ours as well.
So we have a number of different investors that are very traditional, but mostly we work on the behalf of people who are looking to live their life and dignity and retirement. So for pension holders, for foundations doing really amazing work. We're really proud of a lot of the foundations that we have as part of our investing group.
I think it would be remissive us to not bring up the story of the year for many Taylor Swift.
Yeah, but part of that story seriously has been music rights. And yeah, you know, the idea of music rights.
And I wonder what the trickle down or the ripple effect of the negotiations right with the have for you down, you know, lower down at the earliest stage.
Yeah, so I think you know, listen, it is the summer of of it is the fem summer between Beyonce, Taylor Swift, Barbie Beyonce breaking records in terms of com score and for audience engagement of at her tour globally, it has been a really great summer to really show and showcase the power of the the w the female economy with respect to music but also with respect to content right and so for us, you know, we see those trends, we've been seeing them, we've been investing behind them,
we continue to look to invest behind them, and we're really excited about continuing to to to invest behind those themes. So from the top of the funnel all the way down to owners of IP like us, we participate in that that we have songs in our portfolio that were participate that we're part of the Barbie MUV soundtrack, all the way to writers who've written with people like Beyonce as well as writers.
Who've written with people like Taylor Swift.
So so we get to benefit by being a part of that broader ecosystem and how much engagement the fans have around it.
Cheri's is great to have some time with you. The equities, Thank you, thank you, you come back on the show, Charise Clark Suarez. Of course half of you equity partners right here in Los Angeles. Coming up, we're going to talk about like the intersection and media of entertainment with the VC industry too, and their team partner, Lizzie Francis is going to be joining.
Us YEP live from Hollywood. Where the money is coming from. This is Bloomberg.
We are live from Los Angeles, California, at Bloomberg screen Time.
I'm Caroline Hyde and I'm at Lovelock.
And meanwhile, we're taking a look at how the money is flowing into this industry ultimately, whether it be in public markets, also whether it be in private markets, entertainment, content creation, all of that is now in our conversation around VC Spotlight. We're going to be bringing in Lizzie France's partner and head of operations over at M thirteen
has nine hundred million dollars in asset under management. You're an operator, of course, other Starlight names go for example, and I think that's what distinguishes M thirteen is that it is an offering of operations and expertise, not just the money of allocation, but talk about allocated money right now, because it feels like only if you're AI related are you getting.
Any Yeah, thank you men, Caroline so much for having me today. I mean, it's hard to believe. A year ago Open Ai released chat GPT and in that year we have just seen unbelievable proliferation of AI related businesses. So it's remarkable one out of four startup dollars is now going to an AI related business.
I also like to jump in and say, you guys, you have fun three now, which is wonder million, but that's what you're investing out of and you.
Like lead all these rounds. Why why is it important to lead around?
Is it because everyone's having a bit of a scrap to get involved in whatever startups available.
Yeah, it's such a great question. You know, at M thirteen, we're really more than capital. We like to go beyond capital in every way with our founders who are truly exceptional and are building really exceptional businesses. But the problem is at the early stage they're expected to be absolutely everything. So if we lead the round in these exceptional businesses, we get to really partner with them and help them every day on the things and challenges that will help
them actually grow. Their businesses from a very early stage. So, for instance, we've recently led around in care Gnostics, which is the healthcare platform that actually diagnoses and diagnoses with powered by AI, health conditions that people might have. So think chronic conditions like kidney or astha. So now imagine you have this incredible platform powered by AI and it's actually giving clinicians the ability to work with their patients
and get them preventative care ahead of time. And so when we partner with someone like that, we want to be alongside them because they are having real insformational outcomes happen in the world today. With humans, we want to be there every step of the way through their journey.
What's interesting though, is there's the optimism how AI can help with healthcare. There's the fear how AI is going to disrupt industries are the one we sit in right now. The fact that actors are still on strike, fat the rights are just coming back, and a lot of that has been about ultificient intelligence and how they protect themselves. How are you seeing allocation money to AI that is disrupting content.
Yeah, it's a great question, Caroline, and actually I think it's similar across all industries. Be it healthcare or work or even media. I mean even this summer Runway had a pretty monster serious c and they are creating creator tools to actually help creators produce content more quickly. So I think there's lots of ways that AI can be used. I think there's two key areas that M thirteen is particularly interested in that's driving this proliferation of venture dollars
into this space. The first is the ability to crunch data you know it rapid pays and build these really remarkable business models that can transform businesses. And the second is in productivity, right, so removing these manual tasks or speeding up processes like in media, which is how can I distribute content quickly? How am I able to check for copyright infringement at.
Scale in a global market?
I mean, these are really wonderful applications that AI can drive innovation in. We actually are really excited. We just let around in a company called Polymorphic, which is a SaaS powered by AI constituency service. And that's a mouthful, but let me tell you how they're tackling productivity, which is really interesting. Every day across the United States, local government is mired in sort of old fashioned, archaic rote
issues when it comes to process. So, ed, you want to throw a party this weekend at a park, you need to pull a permit for it. I'm sure it's an awful.
Process, you know, a very hypothetically yes, I'm.
Sure there's paper involved. There might be a phone caller to you. So now imagine that happening millions of times for an eventis exactly across the United States. What they're actually doing is taking the cost out of operations on the government side. They're making that pain point of production faster, and they're making us as taxpayers and constituents have a much better customer experience.
Well, it is one big party here. La Pratis, partner and head of operations at M thirteen.
Thank you.
It's been fast and furious from the very beginning. I think you know, it's looking at doing things differently. How we started out with a different investor group, a different model that's.
You know, not the usual for football.
And when we look at a productively female.
It's football.
Just let's clear the record, it's football.
Not soccer.
The music.
Yeah, please continue to know your audience.
And so yeah, and how we did things differently.
We have a predominantly female owned operated business and club.
And you know, I think the way that we're approaching, you.
Know, community first, right, we are engaged with our community. We have fans that show up twenty two thousand fans every home game that we sell out, and it's the supply wheel of we want to produce on the pitch, you know, for our community, for our fans, they support us.
And that's kind of why I ask the question. So David Beckham goes later and is to Creative America.
The men's game wasn't just developed and then the stadium a small stadium empty. Now you guys have this ginormous.
Following already in the stadium every home game.
We When you get ready to play Alyssa, you're young with respect, What is it like getting ready for the game at that level at your age?
It's honestly really fun.
I love seeing all the fans and all like the chants and stuff. I love hearing it, and I just love that it's really a unity there and you always feel supported, whether you're losing, you're winning, we're tied.
I always feel supported.
By the fans and I always feel uplifted. So it's honestly amazing and.
That uplift and you know something that companies want to associate themselves with you not in phenomenal deal with DoorDash, you've linked linked that relationship with them with Philoup profit giving, with ensuring.
That the community keeps building.
How are you ensuring that you can monetize a great feeling?
Ultimately?
I mean, I think our revenue group has done a tremendous job that ten percent model of again engaging the community and getting back to the community with every sponsorship deal that comes in. So I think that's been a huge.
Part of the model for our success.
And ultimately, is that something that attracted you to want to lend your talents.
To such a force? I mean, was it just obvious that this was the.
Path for calling the brand that you wanted.
To align yourself with.
I mean, yeah, I really I feel like making the decision was hard, but once I felt like it was in LA and at home, I felt really good.
About my decision.
And just being a part of this club is amazing. It's so much more than soccer and I love being a part of a community.
Like that and being with just so many powerful women too.
An LA success story of course, that all being surrounding the world of soccer. We called it football, but Angel lef C and Anisad Thompson just being one of the ones to watch Omnimo's business week. We welcome the editor now, Joel Webber, who also sat down in the Angel City yesterday. But who else in this list has really caught your attention across the world A media and entertainment.
Yeah, what we really wanted to do was spotlight some names that you might not have heard of arts, culture, entertainment. And what we end up there with is this really interesting CROC section. Right, so Alyssa, obviously a huge name, eighteen years old, gets to be in the World Cup, you know, headlining this team here in LA that has done amazing things and then also graduating from high school and turning eighteen, right, so that kind of embodies it.
But when we look across, like another group that I'm really interested in is what's happening at d C. We have these two names who are basically leading the charge on what DC will look like when it takes on Marvel, which you know, Marvel has made this huge universe of characters.
Don't tempt me with a Battle of the Superhi so that's what we're talking about.
Cleanly one to watch because.
It was interesting to see music restaurants in there. Just some of the other names quickly Joel that are on the list.
So the Ice Spice is one that I think is really interesting, Like anybody who can touch Taylor Swift right now as she was able to do it do a collaboration with She has just gone to the heights of hip hop in a way that few people have done it. And it all started for her with Drake listening to a song and then giving an airport.
Joe Weber, editor of Bloomberg BusinessWeek, terrific with the list.
Check it out character fascinating because only are they the up and coming, it's then the people who are already making massive moves in the world of Hollywood. We're going to be speaking, of course with the COSEO of Netflix is going to be joining Lucas Shaw on stage, Ted surround Us and of course YouTube CEO two.
Yeah, Neil Mohen, I've got a really interesting video games industry conversation coming up.
To and you are going to speak to a big name, Chris Jenna.
More than two billion, almost two billion followers across the Jenna Kardashian household, so we'll be speaking to Chris Jenna as well.
This is fru Bag technology.