The NIL Expert - Eddie Edwards Breaks it Down

[SPEAKER_02]: And now, it's the better with bourbon podcast, with Brad Martno, and Deacon Palmer, fast-thinking, and smooth-drinking. [SPEAKER_01]: The views in opinion shared on the better with bourbon podcast are our own, and those of our guests. [SPEAKER_01]: Nothing we discussed should be taken as financial, legal, business, or gambling advice. [SPEAKER_01]: Don't make investment, business, or betting decisions based on our conversations as you should always talk to a qualified professional.

[SPEAKER_01]: Always drink responsibly, never drink and drive, and only consume alcohol if you are of legal drinking age. [SPEAKER_03]: It's the only class in high school that Jamie and I and our other best buddy, JD, had together. [SPEAKER_03]: I do not think that's an accident that was the only one. [SPEAKER_03]: The teacher was a guy named Mr. Markowitz, Mr. Markowitz was a great teacher.

[SPEAKER_03]: He would go back and forth with us, he would play with us, but he, we would get Ram Bunches in his classroom because I think he liked the banter. [SPEAKER_03]: And you know, at least JD and I were relatively good students and we would carry [SPEAKER_03]: And one day, we're really getting in. [SPEAKER_03]: We're like, we're having a really good time. [SPEAKER_03]: I don't know what we were talking about, but we're really giving it to him, everybody in the class is laughing.

[SPEAKER_03]: Of course, I had to sit. [SPEAKER_03]: I was with a science-eats. [SPEAKER_03]: I was in the back, Jamie's over here, JD's over here. [SPEAKER_03]: So we're as far away from each other as we possibly could be in the classroom, so we can't conspire to do anything bad. [SPEAKER_03]: And he's like, OK, a people enough. [SPEAKER_03]: We've been going on long enough. [SPEAKER_03]: The three of you need to shut up, because we have to work now. [SPEAKER_03]: And he turns around.

[SPEAKER_03]: And he like walks back to the podium and he says, OK, open a page. [SPEAKER_03]: And I don't know what I wanted to say, but I raised my hand as soon as he's, you know, he's turned around. [SPEAKER_03]: He turns back around. [SPEAKER_03]: He goes, he looks at me, he goes, is this your main? [SPEAKER_03]: And with no hesitation, I go. [SPEAKER_03]: Mr. Markowitz, I'm Deacon, and everybody or Rob's Jamie and Jamie are laughing.

[SPEAKER_03]: He's like, oh, you guys are beer and hot dogs. [SPEAKER_03]: You're everything that's wrong with this country. [SPEAKER_03]: And I shouldn't give it to him like, that's just one of the best teachers we ever had. [SPEAKER_03]: But, but he was just your main. [SPEAKER_03]: He was right about being the best. [SPEAKER_03]: Is this your name? [SPEAKER_05]: Mr. Markowitz, I'm Deacon. [SPEAKER_05]: This is what we're dealing with. [SPEAKER_03]: OK, well, here we are.

[SPEAKER_03]: Better with Bourbon, podcast, episode three. [SPEAKER_03]: We are back. [SPEAKER_03]: This is February 2nd, 2020. [SPEAKER_03]: Six. [SPEAKER_03]: Oh, February 3rd. [SPEAKER_03]: Thank you. [SPEAKER_03]: Thank you. [SPEAKER_03]: Thank you very much. [SPEAKER_03]: Yeah. [SPEAKER_03]: Yeah. [SPEAKER_03]: Apparently we have a long winter coming. [SPEAKER_03]: We're coming to you from the better with Bourbon, Media Studios here in Indiana, Pennsylvania, in the man cave.

[SPEAKER_03]: We get the fire ripping. [SPEAKER_03]: We got some Bourbon scattered around. [SPEAKER_03]: You guys might notice. [SPEAKER_03]: Our loyal fans that the scene looks a little bit different last week. [SPEAKER_03]: We invested in some new technology. [SPEAKER_03]: We talked a little bit about this. [SPEAKER_05]: We might be coming in a little clearer too, because we got the professional new idea. [SPEAKER_05]: Yeah, new audience. [SPEAKER_05]: No thanks to Bunny Till Perry.

[SPEAKER_05]: And we also got, we're going high definition. [SPEAKER_05]: So maybe we're coming in a little clear, you know, you're going to see your beautiful face. [SPEAKER_05]: And by the way, it's a work in progress. [SPEAKER_05]: Eddie Edwards in the house, and it is not casual Friday. [SPEAKER_03]: This is, I know, I'm, I'm doing tech, Dick, tech bro. [SPEAKER_03]: I mean, you're all dressed. [SPEAKER_05]: Eddie is always dressed to the nines.

[SPEAKER_05]: You got to match the point that you could buy. [SPEAKER_05]: You know, you can try, you can put on what I want. [SPEAKER_05]: I'm not going to match it. [SPEAKER_05]: I know. [SPEAKER_03]: Nobody's going to pay attention. [SPEAKER_05]: They're not going to, you know, we got Hollywood Eddie here. [SPEAKER_05]: So it can't wait, you know. [SPEAKER_03]: So we had a little bit of a different show for you today.

[SPEAKER_03]: Last week, we went through kind of three topic areas, kind of incessation. [SPEAKER_03]: We spent some time on each. [SPEAKER_03]: We talked in detail about AI and the data center economy. [SPEAKER_03]: We talked about the drop of drinking in the U.S., it's in an all-time low, and then we did some predictions. [SPEAKER_03]: Each of those went on for a little while. [SPEAKER_03]: This week, we have a different kind of idea.

[SPEAKER_03]: Because we have this guest in, [SPEAKER_03]: We want to make use of the expertise that he brings and provides us. [SPEAKER_03]: The topic today is going to be N-I-L, which means name, image, and likeness, and this fits into our broader business theme. [SPEAKER_03]: But specifically today, we're going to talk about the business of college athletics.

[SPEAKER_03]: And what some believe is the advancement, others may believe, is the degradation of amateur athletics, because now college athletes are getting paid, sports world is very different. [SPEAKER_03]: It's affecting some of the teams that we love and care about very much here in Pennsylvania like. [SPEAKER_03]: are dearly beloved Penn State Netanylines, rough year for them, are pit panthers, you know, rough year for them.

[SPEAKER_03]: They both want the balls, but they're kind of underachieving are, they should have played each other. [SPEAKER_03]: Yeah, elevated expectations. [SPEAKER_03]: But, you know, NIL is definitely a polarizing topic. [SPEAKER_03]: It's something, when you sit down the bar,

[SPEAKER_03]: and you start talking about whatever game you're watching invariably you get people offer in their own opinions again some in support some against but what we realize is that this is a pretty emotional topic but very few people are informed okay so we thought we'd bring to you a real expert in the field he is the expert in the field and I will book for that I've known 80 for 26 years and and his expertise in the NIL space the NFL space [SPEAKER_05]: is second to none.

[SPEAKER_05]: He's a brilliant attorney by trade and just an expert when it comes to that. [SPEAKER_05]: And so we're going to dig deep into the headlines that I'm sure everybody's reading about all these beautiful NIL deals that are going out to these athletes today. [SPEAKER_05]: They're moving like professional athletes throughout the collegiate ranks. [SPEAKER_05]: And we have just the guide to ask all the questions too.

[SPEAKER_05]: And ask him how has this come about and why is it taking place as it is and where's it going? [SPEAKER_03]: Perfect timing here to do this. [SPEAKER_03]: We're just coming off the football championship with one of Indiana's favorite sons. [SPEAKER_03]: Signetti, taking that title, not too far before the NCAA tournament's going to kick off.

[SPEAKER_03]: So we're going to equip you to go drink smoother, sound smoother, be a little bit more articulate on a topic that people will listen to you talk about if you know. [SPEAKER_05]: And of course, we're going to ask Eddie as a Super Bowl pick. [SPEAKER_05]: You know, he's in the space so we got to ask who [SPEAKER_03]: Totally, totally. [SPEAKER_03]: It's going to be great. [SPEAKER_03]: So before we do that, a couple of other things we want to do.

[SPEAKER_03]: We want to circle back and kind of continue the dialogue with some of the main themes that we introduced last week, both within our deep dives and then some of the predictions we offered. [SPEAKER_03]: Relative to the AI space. [SPEAKER_03]: We talked a lot last week about open AI in the video and some of the financing arrangements that they had introduced late last year. [SPEAKER_03]: Well, new news popped off last week.

[SPEAKER_03]: We're going to tell you about what happened and what it means with the market response has been. [SPEAKER_03]: we're going to talk about the data center economy again resurfacing one of the themes from last week because we have a very large data center project here in Western Pennsylvania that we're very proud of going on right down the street, not five miles from where we sit today.

[SPEAKER_03]: Some new news in the data center world coming out of Texas that I think is worth mentioning. [SPEAKER_03]: And then third, [SPEAKER_03]: In our predictions, in an episode one, we talked a little bit about market assets that are more commodity-based, specifically gold silver, and then we spent some time on crypto last week. [SPEAKER_03]: And if you are following this world, you have seen some massive price swings in these assets.

[SPEAKER_03]: If you own these things, hopefully, [SPEAKER_03]: You're not looking at your portfolio day-to-day because you're going to think you're hallucinating with the ups and downs that have been happening recently. [SPEAKER_03]: We're going to talk about why some of that volatility has been introduced, what the market response has been, and maybe what to think about it going forward. [SPEAKER_03]: But before we do any of that, we want to talk about we get a bottle this week.

[SPEAKER_03]: a really nice bottle. [SPEAKER_03]: It's featured down down front here. [SPEAKER_03]: You might notice that one of the small enhancements we put together this week is some of that lighting from underneath very professional looking Brad. [SPEAKER_05]: That's a great choice. [SPEAKER_05]: I think so.

[SPEAKER_05]: We've got to showcase the bourbon that we're that we are drinking and talking about because we've got a special one in the house and we'll be talking with that with Eddie and while you brought it and what it's all about. [SPEAKER_03]: We're going to talk about the thing that we care most about us. [SPEAKER_03]: And not really us. [SPEAKER_03]: We're going to talk about you and your response to our first couple podcast. [SPEAKER_03]: Bradley, tell them about how we're doing.

[SPEAKER_05]: Well, as I mentioned last week, we were climbing the rake springs. [SPEAKER_05]: We were in the top 100 on Apple podcast, which we were just humbled and honored. [SPEAKER_05]: Since then, and right before we went on set today, we are at number six, so we're in the top five and climbing steadily. [SPEAKER_05]: So really impressed.

[SPEAKER_05]: Is impressed the heck out of me that we that we have that kind of response this quick after two episodes But we do strive to provide good quality so we're gonna continue to improve every episode And we're gonna try to bring great guests on great topics on we love the AI space the finance space and the and the sports topics of the day So the drinking space and the drinking space we are experts in that as well.

[SPEAKER_05]: So we we are going to continue to do that and [SPEAKER_05]: Not take ourselves too seriously in the meantime and and you can't see it but Perry did get a new pair of stilettos And they looked right. [SPEAKER_05]: I mean, they'd really enhance your calves. [SPEAKER_05]: Let's go to tell you a minute.

[SPEAKER_05]: Thanks Brad. [SPEAKER_03]: You're welcome So first on the dock at today in this space where fast-ninking meets smooth drinking We're gonna dig in and touch a little bit on again this in video Open AI financing question What what happened? [SPEAKER_03]: Why we bring this up again? [SPEAKER_03]: We talked a lot about it last week.

[SPEAKER_03]: We just gonna spend a few minutes here [SPEAKER_03]: Big news over the weekend was that in video CEO Jensen Wong walked back the widely reported $100 billion investment that he committed to in September, relative to Nvidia's position with OpenAI. [SPEAKER_03]: And what he said was he wanted to clarify that it was never a formal commitment, so to say. [SPEAKER_03]: The clarification came during remarks when he was in Taipei on Sunday and was reported on by the Wall Street Journal.

[SPEAKER_03]: The long at that time essentially explained that while OpenAI invited in video to invest up to $100 billion dollars in a very public kind of format, Wong's response was certainly non-binding. [SPEAKER_03]: It was an L.O.I. [SPEAKER_03]: that was signed, it's not a legal document, it's an intent of some sort of commitment that will be worked out later. [SPEAKER_03]: This was signed in September, but do you think the market [SPEAKER_05]: Thought it was a done deal?

[SPEAKER_03]: Well, I think that's why this is important because this is where the headline doesn't always meet the reality given the timeline we're talking about. [SPEAKER_03]: This happened in September. [SPEAKER_03]: Lot has happened in the world since then. [SPEAKER_03]: Lots of things have changed. [SPEAKER_03]: And there are some questions about, again, like we pointed out last week, not just the investment pertaining to open AI specific to Nvidia.

[SPEAKER_03]: But the broader demand that a lot of these emerging AI and data center companies have on kind of the capital markets. [SPEAKER_03]: Everybody's looking for money. [SPEAKER_03]: We talked about two really specific cases last week. [SPEAKER_03]: But there are many, many, many more. [SPEAKER_03]: We could do a different show for 50 weeks in a row about a company that's looking for funding.

[SPEAKER_03]: What they want to use it for, the technology and their specific use case, who they're funding, who their relationships are, who the investors are. [SPEAKER_03]: this is one of the biggest and most public. [SPEAKER_03]: And the important point here is that what was announced in September and the market's reaction might have been a little bit premature given the kind of realities that are settling in today, right?

[SPEAKER_03]: So, once said that while this is a non-binding agreement that we made in September, [SPEAKER_03]: The $100 billion number is it's a ceiling and it's not a promise. [SPEAKER_03]: I didn't promise, I just kind of indicated that maybe we could do that. [SPEAKER_03]: And he stated that in video, it would invest kind of one step at a time.

[SPEAKER_03]: So despite the retreat from this $100 billion number, long said that we're definitely an absolutely going to be participating in open AI's current funding round. [SPEAKER_03]: He definitely said that it's going to be the largest investment we've ever made as a company. [SPEAKER_03]: And this is important because in video is one of the three largest companies in the world.

[SPEAKER_03]: But reports suggest that today that number might be leveling in somewhere a little closer to 30 billion. [SPEAKER_05]: So 70% decrease. [SPEAKER_03]: It's big time. [SPEAKER_03]: So if you asked me to borrow 100 bucks and I said, well, sure. [SPEAKER_03]: And then I said, I only got 30 to hand you. [SPEAKER_03]: You might have to change your plans. [SPEAKER_05]: Well, that also begs the question. [SPEAKER_05]: Does he know something that we don't that he doesn't want to commit to.

[SPEAKER_03]: well it's interesting because of course the good folks at Wall Street Journal mean that this is what they do all the time one of the digging on that and try to figure out why report surface that long as privately express some concerns regarding open AI's lack of discipline in their business strategy. [SPEAKER_03]: really importantly they're focused on this idea that Anthropic and Google's Gemini might be more formidable competitors than we thought last year.

[SPEAKER_03]: Certainly Gemini's recent releases have been getting a lot more attention open AIs. [SPEAKER_05]: They've been great. [SPEAKER_05]: I mean I've been using the Gemini pro lately and I'm telling you what it's awesome we use it for the research. [SPEAKER_05]: It's a wonderful product. [SPEAKER_03]: Yeah, OpenAI's five release was a little bit underwhelming. [SPEAKER_03]: Some critics thought that it could have done a little more.

[SPEAKER_03]: There might be some again, strategy drift. [SPEAKER_03]: And so, really, there've been a lot of folks kind of quietly leaving OpenAI to pursue similar endeavors with other competitive models. [SPEAKER_03]: The Anthropics, the XAI, the Gemini. [SPEAKER_03]: So, [SPEAKER_03]: what's the market impact? [SPEAKER_03]: Why are we talking about it? [SPEAKER_03]: Why does anybody care?

[SPEAKER_03]: Well, when this came out last week, again, it was over the weekend, but on Monday, immediately, in videos shares traded down. [SPEAKER_03]: And when we look at the peak, when they closed last week on Thursday, to the morning, stocks traded down about 9% through today's close, as investors reacted to the uncertainty that the circular nature of the financing might introduce into the deal. [SPEAKER_03]: That's a term that we introduced last week, talk a little bit about.

[SPEAKER_03]: We talked quite a bit about that, yeah. [SPEAKER_03]: Yeah, right. [SPEAKER_03]: So I think this is one of these points we say. [SPEAKER_03]: We're like, not sure we necessarily got it right. [SPEAKER_03]: But we're circling around the right themes that Wall Street's looking at investment community is looking at outside of Wall Street. [SPEAKER_03]: There's a lot of private capital in here. [SPEAKER_03]: There's a ton of money in these deals that has come from Asia.

[SPEAKER_03]: And some of those investors in Asia are questioning whether or not they have the patience to hang out if this timeline for returns is going to get it long gated. [SPEAKER_03]: What if Johnson Wong doesn't come up with a hundred billion and it's only thirty how long is it going to take open AI to find that other seventy billion that they need because hundred billion dollars is the need.

[SPEAKER_03]: If that financing takes longer to to arrange, what happens to some of the physical build out with some of the data centers that are associated with this and we're going to talk about how data center development can can impact economic returns on the back end. [SPEAKER_03]: Interesting story, but in video is now down from its Q4 highs about 17-18% through today's close.

[SPEAKER_03]: I feel like we called this one out right, no victory, and somebody kind of lose and money, but we're going to keep looking at this, what do you think? [SPEAKER_05]: I mean, well, I mean, I like NVIDIA as a long-term star, just because they are involved, and they have invested in a lot of different players as we talked about that circular [SPEAKER_05]: their chips are and as high of demand as they come.

[SPEAKER_05]: So if their stock is going down and it continues to go down, it may be a great buying opportunity. [SPEAKER_03]: Potentially, potentially. [SPEAKER_03]: But this week we also got earnings from Microsoft, which is the other Microsoft Amazon and video are kind of the three companies that are driving this. [SPEAKER_03]: If you on Microsoft stock, everybody does one way or another, whether it's in a pension of 401k or just outright.

[SPEAKER_03]: it's getting hammered there earnings this week were really good but there were some questions about forward-looking commitments very similar to the conversation we're having here so this is a topic we're not going to dig in much beyond this right now but we're definitely able to continue to talk about it and watch it very closely to see where the market is going and where the infrastructure is going to [SPEAKER_03]: Definitely.

[SPEAKER_03]: Second topic, let's talk a little bit about the data center economy, very related to AI, I can't produce AI without data centers. [SPEAKER_03]: So we're sitting, and we're coming to you from Indiana, Pennsylvania. [SPEAKER_03]: Right down these streets, again, not five miles from where we sit today, is a town called Homer City. [SPEAKER_03]: Homer City, for many, many years, had one of the largest coal-fired power plants in the world.

[SPEAKER_03]: And it not only powered a kind of residential Pennsylvania, but all the way down into West Virginia, Maryland, up into Upstate New York, New Jersey was one of the biggest power generation facilities in the country, until Pennsylvania decided to take it off the grid because of the carbon imprints that's making on the environment needed to upgrade that facility.

[SPEAKER_03]: The interesting thing about that piece of land is even though it's stop producing power, [SPEAKER_03]: The piece of land still had lots of advantages to it. [SPEAKER_03]: Water rights that were already permitted transmissions, transmission lines that could get electricity out of that space, massive natural gas lines that would fuel that space for cleaner power generation using that gas as we transition from coal. [SPEAKER_05]: They're sitting right here in the Appalachian Basin.

[SPEAKER_05]: There we have more natural gas than the demand is currently meeting. [SPEAKER_05]: And a lot of the natural gas in the basin is shut in. [SPEAKER_05]: So this is just waiting for opportunities to utilize it and this will help. [SPEAKER_03]: Real source of pride for the area because we haven't had a development project like that going around here for a long time. [SPEAKER_03]: Certainly something that we get a lot of chatter about at the bar.

[SPEAKER_03]: While we're sitting there talking about NIL and why the Steelers are so bad this year and what we got to do to fix that. [SPEAKER_03]: invariably the Homer city development authority and what's going on there come up. [SPEAKER_03]: So the Homer city plant just inspects there so we can compare it to this new development Texas.

[SPEAKER_03]: It was initially a spec to be between a 4.5 and a 5 gigawatt gas and hydrogen powered station which one announced was the largest industrial site in the country under development and the largest gas-fired power plant ever envisioned in the world. [SPEAKER_03]: The site is about 32,000 acres big, okay, not that we have any means to understand what that means, but we bring up this Texas thing. [SPEAKER_03]: You'll get an idea.

[SPEAKER_03]: And the investment that's going to be required to get this online is going to be about $10 billion big, okay. [SPEAKER_03]: So that's awesome, and was the celebration of the AI and data center space for many years, until [SPEAKER_03]: The world's largest title was stolen from Homer City in Pennsylvania by a new development project in West Texas called the Giga Ranch. [SPEAKER_03]: This was announced as an 8,000 acre site with a massive 7.65 gigawatt gas plant.

[SPEAKER_03]: So this moves the AI power wars into a totally new phase. [SPEAKER_03]: This is unquestionably the biggest industrial development projects that's ever been undertaken [SPEAKER_03]: And the amount of money that is necessary to build this thing out there is going to be massive, right? [SPEAKER_03]: So let's just talk a little bit about the differences between the two, just so we can, you know, create more kind of constructive tension between Pennsylvania and Texas.

[SPEAKER_03]: We compete with pretty much everything and I'm just going to point out the thing that matters most, which is football. [SPEAKER_05]: All right. [SPEAKER_05]: There's also golf. [SPEAKER_05]: We've had in the history an ongoing match played tournament with with our friends in Texas once a year, which is going on for a long time That we always enjoy the competition. [SPEAKER_03]: We're going to beat them up there just like we do on a grinner. [SPEAKER_03]: Right.

[SPEAKER_03]: So the most significant differences between these two [SPEAKER_03]: isn't just the size, it's relative to the strategy that they're going to use to get power out of the grid. [SPEAKER_03]: We've heard a lot of negative news about power demands from AI. [SPEAKER_03]: This is kind of an interesting take that they're using. [SPEAKER_03]: In Texas.

[SPEAKER_03]: So while Homer City is leveraging the existing PJM transmission lines, which I mentioned to you, these are the approved regulated power lines that are regulated by the PJM authority, which is the power transmission authority here in the [SPEAKER_03]: These lines feed both a data center and the power that it's going to generate that's going to be available to sell back to the public. [SPEAKER_03]: That's the one way to do it.

[SPEAKER_03]: The giga ranch in Texas is being built as a completely private off-grid or as they say in the industry behind the [SPEAKER_03]: public energy used, and they're actually going to sell a massive amount of power back to Erkot, which is the Texas Power Authority. [SPEAKER_03]: Texas has its own power authority, they've got their own state regulatory authority.

[SPEAKER_03]: So, this is interesting because, you know, you know, you know, you know, you know, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, [SPEAKER_03]: This strategy requires much less regulatory approval.

[SPEAKER_03]: In states where you typically have to take power from the grid, and we're talking about, in this case, a great big giant natural gas line. [SPEAKER_03]: The Homer City folks don't just say to the regulator, hey, can we just get kind of a great big giant fat extension cord, we'll plug it in your side, we'll plug it in our side, we're ready to go. [SPEAKER_03]: You have to do years and years of what's called interconnect work.

[SPEAKER_03]: You have to run a study about what it will cost, how it will affect the local economy, the technical feasibility of the physical solution, and then that interconnect work has to be done before you build one rack of server space or one cooling chamber. [SPEAKER_05]: In the permitting process is much more intense. [SPEAKER_03]: It's massive, right?

[SPEAKER_03]: So the Texas folks are going to undo this because they, [SPEAKER_03]: Much like us here in Pennsylvania have a great advantage. [SPEAKER_03]: They're sitting on, we're here in the middle of the Marcellus shale. [SPEAKER_03]: They there are in the middle of the Permian basin, and specifically the Waja gas hub, right?

[SPEAKER_03]: So by piping that gas directly out of the ground to a private behind-grid structure, they're trying to kind of exploit the same strategy that is being used here. [SPEAKER_03]: They're just doing it all behind the grid, right? [SPEAKER_05]: So they're used for the natural gas because before they would have to burn it off because it was nuisance gas. [SPEAKER_05]: They're putting good use to something that otherwise was just being wasted.

[SPEAKER_03]: Yeah, so this hybrid model is going to get them faster of approvals, because shovels in the ground a lot quicker. [SPEAKER_03]: And potentially, as they say, benefit the local economy through the amount of energy they're going to be able to sell back into the space. [SPEAKER_03]: So this is something that we're going to be watching. [SPEAKER_03]: We take a great pride in this project popping up here in Pennsylvania.

[SPEAKER_03]: It's neat to know that others are seeing this as successful enough to this point to push the envelope and create something that's potentially a multithubar. [SPEAKER_03]: There it is, right, right, right, right. [SPEAKER_03]: Okay, third really quickly here before we move on to what you want to hear. [SPEAKER_03]: Gold, silver, and crypto.

[SPEAKER_03]: We talked a little bit about it last week and certainly in week one, we made some of our predictions about the year, about relative of what was going to happen with these assets. [SPEAKER_03]: Just a level set. [SPEAKER_03]: Gold was up 65% in 2025, silver was up a whopping [SPEAKER_03]: Yeah, right, and if only somebody would have told you Bitcoin was was pretty flat. [SPEAKER_03]: It was about it was down about a percent last year.

[SPEAKER_03]: But as we moved into Q4 last year, all three of these assets just moonshot. [SPEAKER_03]: We talked a lot about it. [SPEAKER_03]: We're not going to repeat it until last week. [SPEAKER_03]: Last week, we told you two weeks ago that this run might be getting a little long and a tooth might be time to start to fade some of this, you know, this moonshot action.

[SPEAKER_03]: low and behold, silver down 41% in three days, gold, healthy correction, down 10%, but for an asset like that's pretty big move in such a short time. [SPEAKER_03]: Bitcoin just likes silver down 42%. [SPEAKER_03]: What in the world would cause this? [SPEAKER_03]: And what's it mean? [SPEAKER_03]: So, there's a couple reasons why you'd see something, you know, like the speculative shake out, you know, the guys that were late to the party are now getting really punished.

[SPEAKER_03]: We've seen, you know, these assets take months to get this high multiple weeks to get this high. [SPEAKER_03]: They lose all that, lose all that gain in a matter of hours. [SPEAKER_03]: There's kind of, there're going to two or three main reasons. [SPEAKER_03]: Number one, and I think probably most important, [SPEAKER_03]: We got some insight in the last few days on who the administration's pick for the next chairman of the Federal Reserve is going to be for a long time.

[SPEAKER_03]: It was believed to be a gentleman that was named Kevin Haslete. [SPEAKER_03]: Kevin Haslete was seen as somebody who would widely kind of bow to the administration's demands for lower interest rates. [SPEAKER_03]: and was kind of seen from the perspective of the financial community from Wall Street as kind of a yes man for the administration.

[SPEAKER_03]: And while lower rates would certainly be good for the economy, there's a reason why the Fed operates independently from the other three branches of government turns out that Trump did not decide on that Kevin. [SPEAKER_03]: He picked a gentleman named Kevin Warsh, who was an economist who traces back to Stanford, brilliant guy, listening to him talk for about [SPEAKER_03]: would recommend you looking them up in here.

[SPEAKER_03]: He is a brilliant communicator, a very steady hand, a very confident guy. [SPEAKER_03]: But he is a guy who is not going to just take direction. [SPEAKER_03]: He is going to think on his own. [SPEAKER_03]: And some more questioning whether that means interest rates are going to fall immediately. [SPEAKER_03]: If interest rates don't fall, that essentially raises the purchase price for people not buying and dollars for commodities that are priced in dollars.

[SPEAKER_03]: We can talk about that later, but invariably what it meant is some of the speculative firver came out of those things immediately. [SPEAKER_03]: When you see gold and Bitcoin massive assets fall 40% a couple of days, either there was people way overplaying their hands on the long side or we're totally caught off guard by this decision.

[SPEAKER_03]: I [SPEAKER_05]: I think the few of those that have heavily on Bitcoin were shaking in their boots a little bit because it was getting down to the point where it was in the mid to high 70s, I think at one point and it just creeps back slightly since then, but where's the go from here? [SPEAKER_03]: Well, anytime you get some question about interest rates, not getting cut or potentially being raised, the dollar rises.

[SPEAKER_03]: And when the dollar rises, it can have a knock-on effect to non-commodity assets like the market. [SPEAKER_03]: That certainly could be contributing some of the weakness. [SPEAKER_03]: We've seen this week and assets like Microsoft or just kind of broader weakness in tech after this great run. [SPEAKER_03]: But there was a kind of a less obvious trigger that definitely played a role in these three assets specifically come and down.

[SPEAKER_03]: The CME, the commodity markets exchange, which is essentially the exchange where commodities are trade. [SPEAKER_03]: Sometimes when big investors want to want to capture a commodity, it really lay into an asset class and make a big bet, they'll trade on what's called [SPEAKER_03]: Right, and margin for non-investors is essentially like me giving Brad a credit card and saying, here's the rate of the credit card, go ahead and spend all you want.

[SPEAKER_03]: OK, CME allows people to invest with borrowed money. [SPEAKER_03]: But just like with a credit card, sometimes interest rates move. [SPEAKER_03]: And when those measures rates move up, investors who have bought gold silver Bitcoin on margin either have to do one or two things.

[SPEAKER_03]: They either have to post additional collateral, [SPEAKER_03]: to accommodate the fact that they now have to suppose to a higher interest rate to borrow that money or they have to sell that asset to meet that margin call. [SPEAKER_03]: So why would that affect the price of Bitcoin? [SPEAKER_03]: What would any of this have to do with Bitcoin? [SPEAKER_05]: Right?

[SPEAKER_05]: Then I just read though I thought in the headlines here when Bitcoin started going on a downward trend that one of the major institutions sold it off.

[SPEAKER_03]: yeah in a big big way yeah absolutely and it's interesting because a lot of these institutions have holdings that have a massive Bitcoin holdings but now they also have a ton of gold and silver right because these things have run up if that starts falling and you don't want to sell your silver because you bought it with borrowed money you can't sell the thing you want to sell you get to sell the thing you can sell right and that would that would certainly play into the narrative about why somebody would sell a massive chunk of Bitcoin over the weekend

[SPEAKER_05]: It may be also showing where they prioritize their top assets. [SPEAKER_05]: Gold and silver still seem to be on top. [SPEAKER_03]: Gold and silver are projected to run. [SPEAKER_03]: I can't imagine how they could go any higher than where they are right now. [SPEAKER_03]: Again, like we said last few weeks, I think we need to see some sideways action and them all out before those become investable again. [SPEAKER_03]: But, I think that's enough on this, yeah?

[SPEAKER_05]: No, let's get to what we're here for. [SPEAKER_05]: And that is Eddie Edwards. [SPEAKER_05]: And we come back, we're going to bring Eddie on to this set. [SPEAKER_05]: Get into the bottle of Ron. [SPEAKER_03]: Yeah, when we come back, it'll be three of us here.

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[SPEAKER_00]: The algorithmic state, no jobs, no money, little freedom, available now on Amazon. [SPEAKER_03]: And we're back. [SPEAKER_03]: We're fast thinking me smooth drink in here, but with Bourbon podcast, you might notice we have an additional participant here. [SPEAKER_03]: Bradley, who is this guy? [SPEAKER_05]: Oh, who is this guy? [SPEAKER_05]: I think he comes known before I even have to introduce him. [SPEAKER_05]: It's Eddie Edwards. [SPEAKER_05]: Hollywood himself.

[SPEAKER_05]: Welcome to the set. [SPEAKER_04]: I don't know about Hollywood, but the build up here. [SPEAKER_05]: Oh, man. [SPEAKER_04]: It's good to have you back in back in Indiana It's great to be at Indiana with good people good bourbon great podcast congratulations. [SPEAKER_04]: Thank you. [SPEAKER_05]: Thank you It's been a run. [SPEAKER_03]: You love you. [SPEAKER_03]: This is amazing lucky how much of a tent. [SPEAKER_03]: Oh, you're attention.

[SPEAKER_03]: We get now You know what I watch it. [SPEAKER_03]: We don't take it for granted. [SPEAKER_03]: I watch it. [SPEAKER_04]: It's good Great content. [SPEAKER_04]: I and I let Brad do good batter and different. [SPEAKER_05]: That's right. [SPEAKER_05]: That's right. [SPEAKER_05]: You always as [SPEAKER_05]: So we go way back in, we got to set the stage your whole UNI, got to introduce each other to each other, and it goes back to law school.

[SPEAKER_04]: Absolutely, you know, and Brad, you're humble. [SPEAKER_04]: I don't know if Brad's mentioned this. [SPEAKER_03]: Did you know he was number one in our law class? [SPEAKER_03]: Only about once a week. [SPEAKER_04]: Yeah, he was the four most mind in our law class. [SPEAKER_04]: But me and Brad met in law school, cultivated a friendship over now, what, 26 years. [SPEAKER_05]: at the very first day of law is going on. [SPEAKER_04]: Very hard day of law is going on.

[SPEAKER_04]: Right, where we dominated intermirals. [SPEAKER_04]: We did, no doubt. [SPEAKER_04]: We weren't division one athletes. [SPEAKER_04]: We were intermiral athletes. [SPEAKER_04]: No, and I all for us. [SPEAKER_04]: None. [SPEAKER_04]: But we've been able over overtime to spend a lot of time with one another. [SPEAKER_04]: Our families, get to know our families, watch our families grow. [SPEAKER_04]: watch the kids grow and, you know, look for opportunities to collaborate.

[SPEAKER_05]: So, you know, when Brad Collins said, hey, I got this podcast with Deacon, who we know each other in a different way, which is even more strange when we come to find out how small the world is to learn where, by the way, I happen to be going to school in Erie, Pennsylvania, that you two actually met before I met you 26 years ago. [SPEAKER_03]: Can I tell it real quick? [SPEAKER_03]: Tell the story. [SPEAKER_03]: Okay, sorry.

[SPEAKER_03]: A couple years ago, Brad and I didn't know each other very well, he calls me one day. [SPEAKER_03]: So, hey, one of my main guys is coming up. [SPEAKER_03]: I think you guys would get along. [SPEAKER_03]: We're going to play golf, have some lunch, maybe have a drink or two, show up. [SPEAKER_03]: We start talking. [SPEAKER_03]: Hey, how are you? [SPEAKER_03]: What kind of business you in? [SPEAKER_03]: What do you do? [SPEAKER_03]: Oh, great. [SPEAKER_03]: You married, got kids?

[SPEAKER_03]: Yeah, you married. [SPEAKER_03]: No, no. [SPEAKER_03]: I'm going to kind of do in the area. [SPEAKER_03]: Okay, let's go play golf. [SPEAKER_03]: So, we get about to the, I think it was the seventh hole. [SPEAKER_03]: at Indiana Country Club best screens in the world, and I'm looking at Eddie as he's stepping off to the teague and muscular back all the time, I said, you look like an athlete, what was your sport coming up?

[SPEAKER_03]: And he goes, I play a little basketball, played basketball up at Penn State up in Erie, and I said, nah, you did. [SPEAKER_03]: Penn State, Erie? [SPEAKER_03]: And I said, yeah, you remember the oak, you know, James, you know, like, ah, the oak tree. [SPEAKER_03]: So we found out that we had met this would be, let's see, your, what was it? [SPEAKER_03]: Your junior year, our freshman year, your soft AP 95. [SPEAKER_03]: Yeah, 95. [SPEAKER_03]: I went up to see.

[SPEAKER_03]: Jamie play, only time I got to see him play in college. [SPEAKER_03]: And as you do with that age, we stayed and you know, had a couple of drinks with the ladies in the dorm. [SPEAKER_03]: And invariably, I fell asleep on somebody's floor come to find out that was your floor. [SPEAKER_03]: I slept on. [SPEAKER_03]: There were many people. [SPEAKER_03]: It slept on that floor. [SPEAKER_03]: We go way back. [SPEAKER_03]: That happened. [SPEAKER_03]: So I knew him before you did.

[SPEAKER_03]: I knew him before you. [SPEAKER_03]: Anyway, keep going. [SPEAKER_04]: And even before that. [SPEAKER_04]: Yeah. [SPEAKER_04]: The La Trobe Rotary Tournament? [SPEAKER_04]: Oh, heck of Simon Grats. [SPEAKER_04]: That's why I first met Okenak because La Trobe would bring in a top-tier basketball team every year. [SPEAKER_04]: Yeah. [SPEAKER_04]: And we were on our finals break, and our coach was recruiting Jamie. [SPEAKER_04]: Oh. [SPEAKER_04]: So he said, hey, what are you doing?

[SPEAKER_04]: Would you like the, you know, it's so we went down and saw them play against the large steward. [SPEAKER_04]: I think it was Sean Smith and Terrell Stokes. [SPEAKER_04]: What a lineup. [SPEAKER_04]: Well, Rashid almost ripped a goal off the roof. [SPEAKER_04]: Yeah, that was the year before. [SPEAKER_04]: But the year after they came back with, I mean, they just kept producing him at Simon Gratton. [SPEAKER_04]: So they always did matter.

[SPEAKER_05]: They were, and I'm sure they still are having followed that close, but when they were top, top tier. [SPEAKER_05]: That was a crazy team. [SPEAKER_05]: Crazy stuff. [SPEAKER_05]: Small world though, right? [SPEAKER_04]: Yeah. [SPEAKER_04]: They would have had in my old money back then, if, oh, could you imagine? [SPEAKER_04]: That's a great question that I always posed to athletes who I know from yesterday year. [SPEAKER_04]: What do you think your NIL value would be today?

[SPEAKER_04]: It's all ready, oh my god. [SPEAKER_04]: If we could have done that back then, because again, there was a lot of athletes that could have benefited. [SPEAKER_04]: Big time. [SPEAKER_05]: From those opportunities, I mean, and it's as a athlete that at least in the high school ranks back then, I've experienced and played against some of them, and I could, and I'm sure you could do.

[SPEAKER_05]: I mean, just name off a few that, [SPEAKER_05]: This is a shame that they couldn't benefit from it. [SPEAKER_04]: Well, and I told Brad, you know, we do pre-production. [SPEAKER_04]: So in me and Brad, we're in pre-production here today before before you started to film. [SPEAKER_04]: Let's tell him the story about when I was a young man. [SPEAKER_04]: I say young man, now it's aging myself.

[SPEAKER_04]: But when I was younger, [SPEAKER_04]: I was helping with the McDonald's on American game when it was here in Pittsburgh in 1996. [SPEAKER_05]: If the listeners know when we were talking about the story, we were rocking on our rocking chairs out front. [SPEAKER_04]: Absolutely. [SPEAKER_04]: Back when I was at, so, but I was Tom Brad, part of my duties was escorting some of the celebrities you know around. [SPEAKER_04]: You were an escort. [SPEAKER_04]: I was an escort.

[SPEAKER_04]: I was escorting some of the celebrities around from event event and one of the individuals was a top tier division one basketball player. [SPEAKER_04]: He was a star ended up being an MBA star and still involved in major basketball this day. [SPEAKER_04]: But he was talking about buying Christmas gifts for his parents in the student store and he was buying his own jersey.

[SPEAKER_04]: And didn't get anything for it, see it's like I'm going to go into our bookstore and I'm going to spend $150 on two jerseys, I just, you know, I want to give that a gift back to my parents, but what's wrong with? [SPEAKER_04]: the thought of me actually going to buying my own jersey that I get nothing for and that benefit's going to go back to the university.

[SPEAKER_05]: Make sure that doesn't make any sense and before we go any further down that road, I want to let the listeners know just a little bit more about yourself. [SPEAKER_05]: How did you get into, you know, I always find it fascinating because you know, you know, you and I were very close and in law school we hung out we played.

[SPEAKER_05]: Intermereal basketball, we even played Intermereal football one semester because we just accidentally signed up for the wrong league, but that was We hung out all the time and and I knew you had a sports background.

[SPEAKER_05]: You're you're you're coming from a very talented family your your father gifted gifted athlete What got you into the space so Sports from a young age now, I wasn't much of a reader so the way that my parents enticed me to read was to read the sports section [SPEAKER_04]: In fact, then we had to Pittsburgh Post Gazette, which was our morning edition, and to Pittsburgh Press, which was our evening edition, and the Pittsburgh Post Gazette's going away here.

[SPEAKER_04]: It's going away now, but I would read that sports section cover to cover every single day. [SPEAKER_04]: As I got older, my mother got me probably the most valuable thing that I had was my sports illustrated subscript. [SPEAKER_04]: Oh. [SPEAKER_04]: Yeah. [SPEAKER_04]: Remember though, I read it in front of the back. [SPEAKER_04]: What's the evolution in member in the back with his, uh, his editorial face in the crowd. [SPEAKER_04]: Right. [SPEAKER_04]: At, at, at, at the end.

[SPEAKER_05]: I'm not going to be honest. [SPEAKER_05]: I never read it front the back. [SPEAKER_05]: I don't, the only the swimsuit. [SPEAKER_05]: issue. [SPEAKER_05]: The only thing that was that's the one I've been most attention to. [SPEAKER_04]: It's so much.

[SPEAKER_04]: And he still has the right to have the right to have the right to have the right to have the right to have the right to have the right to have the right to have the right to have the right to have the right to have the right to have the right to have the right to have the right to have the right to have the right to have the right to have the right to have the right to have the right to have the right to have the right to have the right to have the right to have the right to have the right to have the right to have the right to have the right to have the right to have the right to have the right to have the right to have the right to have the right to have the right to have the right to have the right to have the right to have the right to have the right to have the right to have the right to have the right to have

[SPEAKER_04]: And when you told me who the agent was, I was like, you know what, I think I can do that. [SPEAKER_04]: But then, do you know any agents? [SPEAKER_04]: Just so happened that the honorable Dwayne Woodruff, who's now a judge, former Pittsburgh Steeler, former Super Bowl Pittsburgh Steeler, and very well respected attorney, was an agent. [SPEAKER_04]: As well as an attorney, he was certified. [SPEAKER_04]: He happened to be my family's attorney.

[SPEAKER_04]: He represented my dad on matters. [SPEAKER_04]: So, of course, I corner him one day, and I'm like, judge back then it was Dwayne Mr. Woodruff.

[SPEAKER_04]: know I want to be an agent can you help me out like how can we do this little i know my dad already went to the way into the hate my kids going to come new he wants to be an agent but he got a law school first so we're not doing this before it before he goes a law school so i got a so happy he said uh... why got a judge would you pretty said you know any when you're done with law school the minute you're done with law school you call me and we'll figure this out right so the minute i literally we probably walked out the stage once the

[SPEAKER_04]: you know the the graduation party thereafter and he was there and I said you know what we're doing this and we did it [SPEAKER_04]: And it's been a fantastic, I mean, now it's almost 25-year ride of representation of athletes. [SPEAKER_04]: Now, as a certified NFLPA contract advisor, and BPA certified agent in an attorney.

[SPEAKER_04]: When I tell people, I'm going to attorney with those licenses, not necessarily the moniker of agent, everybody kind of looks at you differently when you come out and say, hey, I'm an agent. [SPEAKER_05]: But I'm going to attorney with certification. [SPEAKER_05]: you don't have to be an attorney to be an agent. [SPEAKER_04]: You do not.

[SPEAKER_04]: Even though you are dealing heavily with contracts, heavily with contracts and that negotiating background, you know dealing with with complex business issues, things that nature comes in really handy. [SPEAKER_04]: I mean, you know, it's a deficit. [SPEAKER_04]: It's an advantage, right? [SPEAKER_04]: To be able to do those things. [SPEAKER_04]: Um, um, so, you know, the sports thing was pretty natural.

[SPEAKER_04]: I know I play as a kid growing up, you know, was a modest athlete, but love, love the sport. [SPEAKER_04]: Um, and then I, you know, you get married life goes on. [SPEAKER_04]: You have kids. [SPEAKER_04]: You don't know where your kids are going to end up. [SPEAKER_04]: You hope they end up doing some cool things. [SPEAKER_04]: Your kids did some really cool things. [SPEAKER_04]: I mean, lo and behold, 3D1 athletes, right?

[SPEAKER_04]: Man, like, [SPEAKER_04]: from this D3 kid, mom, 3D Watt hat, mom, mom, mom, well, that is the, and had a real story. [SPEAKER_04]: And we have portioned, and we talk about the real athlete and the family, and the real reason Eddie had to become an agent, and it was just, and it's funny, because my oldest played baseball at University of Buffalo, so at that point, there's no denial, right, that wasn't even a talking point.

[SPEAKER_04]: then my middle goes and plays basketball at the Air Force Academy. [SPEAKER_04]: The same time, Paul is there. [SPEAKER_04]: Yeah, and when James was a, in his last year at the Academy, Paul's Scenes was a freshman on the baseball team. [SPEAKER_04]: Okay. [SPEAKER_04]: And, and, you know, because our service academy, the NIL stuff wouldn't amount it any way because they can't take it, right?

[SPEAKER_04]: So then my youngest, who arguably, [SPEAKER_04]: is the most athletic of the three. [SPEAKER_04]: Well she made USA today. [SPEAKER_04]: I remember that story. [SPEAKER_04]: That was USA to the rest of the story. [SPEAKER_04]: She calls me the day that it's approved. [SPEAKER_04]: It says, Dad, you're in a business. [SPEAKER_04]: I need deals. [SPEAKER_04]: I'm like, honey, it's not that easy. [SPEAKER_04]: It's not that easy.

[SPEAKER_04]: You know, at that point, she's playing the Patriot League, which is a great league. [SPEAKER_04]: It's a great academic league. [SPEAKER_04]: Right, they're all there. [SPEAKER_04]: But when you're looking at opportunities, at least back then in the collective days, it was based on your following, right? [SPEAKER_04]: They wanted to see what kind of reach can a business get for engaging, especially athletes at that level.

[SPEAKER_04]: Like at that more higher profile, back then, P5, not P4 schools, a little bit easier because of the visibility. [SPEAKER_04]: So, you know, saying you're a dotter by, this is gonna be rough, but you know, helping our figure out, even for product.

[SPEAKER_04]: right how to how to be a brand ambassador now how to build out that brand people forget name image likeness right intellectual property this isn't paid a play we have we have to tell the the quick story on uh on on Lauren and how she got she went from being uh [SPEAKER_05]: a graduate assistant to all of a sudden being in the starting point card. [SPEAKER_04]: Yeah, that was really crazy. [SPEAKER_04]: So my daughter, is that Loyola Marilyn, had an extra year.

[SPEAKER_04]: Everybody had the COVID year. [SPEAKER_04]: So everybody afforded an extra season, right? [SPEAKER_04]: And she was one of the COVID kids that was enrolled in playing at that time. [SPEAKER_04]: And she's exhausted, her eligible as far as academics, right? [SPEAKER_04]: Because now she's, I shouldn't say, exhausted eligibility, but academically, she was graduating. [SPEAKER_04]: So she's like, Dad, you know what? [SPEAKER_04]: I'm going to put my name in the portal.

[SPEAKER_04]: Let's see what happens, right? [SPEAKER_04]: So she got five opportunities. [SPEAKER_04]: None of which she wanted to return to. [SPEAKER_04]: So she's like, all right, no, what am I going to do? [SPEAKER_04]: And there were five division opportunities, some local, some not so local, but just nothing really resonated with her.

[SPEAKER_04]: So she gets a call from one of her previous coaches and says, hey, we have a graduate assistant position [SPEAKER_04]: and she interviews for it, and unfortunately doesn't get it, but that coach calls another school and says, I have a great candidate. [SPEAKER_04]: She calls Providence. [SPEAKER_04]: It's not a great candidate for you. [SPEAKER_04]: This young lady played for me. [SPEAKER_04]: I think she'd be fantastic. [SPEAKER_04]: Providence hires her.

[SPEAKER_04]: Well, that first year Lawrence killing these girls in practice and I'm here in this from the code like he's he's given it to our right right right right you take a pencil being a girl up to New England She's a dominator. [SPEAKER_04]: No, ah, it's a good basketball here at big basketball area. [SPEAKER_04]: I didn't realize how big it's why I got their fall ever dreams right right for the book. [SPEAKER_04]: Oh, I know it's not far from there. [SPEAKER_04]: No, I know.

[SPEAKER_04]: Well, I mean, I got the experience of the first hand. [SPEAKER_04]: Yeah, first hand. [SPEAKER_04]: So then the second year [SPEAKER_04]: She's doing the same thing in practice and the coach says jokingly, do you have any eligibility left? [SPEAKER_04]: Yeah, well, Lauren said, actually I do. [SPEAKER_04]: maybe eight days later, she suited up playing against Columbia. [SPEAKER_04]: Right. [SPEAKER_04]: Right. [SPEAKER_04]: Two games later. [SPEAKER_04]: She's starting.

[SPEAKER_04]: Yeah. [SPEAKER_04]: Playing 38 minutes and Biggie's basketball. [SPEAKER_04]: Wow. [SPEAKER_05]: And she played great basketball. [SPEAKER_05]: I mean, it was it was a great unforeseen. [SPEAKER_05]: I'm sure by on her part thinking that she was going to get that extra year. [SPEAKER_05]: But it made USA today. [SPEAKER_05]: We were fortunate. [SPEAKER_05]: You were nice enough to invite Tony and I up to watch your play Yukon If we got right behind the bench with the problem.

[SPEAKER_05]: That was a lot of fun and what it what about I mean You see it on TV but then to go to experience it firsthand when you have a sold-out crowd on a Tuesday night And you got fireworks going on I mean these these ladies and that coach up there there are rock stars I mean rock It's amazing [SPEAKER_04]: They played that game in the Hartford Civic Center.

[SPEAKER_04]: Yep. [SPEAKER_04]: It was a big East open and both teams I think were tied at that point for first place in the biggest, right? [SPEAKER_04]: So we go and it's like a Laker game. [SPEAKER_04]: I mean the the the the atmosphere was unbelievable And I happen to know one of a garage who played at Yukon. [SPEAKER_04]: So I'm you were there.

[SPEAKER_04]: I was texting door and again like [SPEAKER_04]: You guys got pyrotechnics on music and the response I got was, we want to defeat you before the tip off. [SPEAKER_04]: They do. [SPEAKER_04]: They get it all. [SPEAKER_04]: It's intimidating. [SPEAKER_04]: Think about it. [SPEAKER_04]: You're coming from an arena where, you know, they got pre-game music. [SPEAKER_04]: You got fansch. [SPEAKER_04]: I mean, this was a spectacle. [SPEAKER_04]: It was incredible.

[SPEAKER_04]: It was incredible. [SPEAKER_04]: Jumped. [SPEAKER_04]: Yeah. [SPEAKER_04]: Jumped trauma. [SPEAKER_04]: I mean. [SPEAKER_04]: But wait a second. [SPEAKER_04]: It was sold out. [SPEAKER_04]: So I'm not we're not talking about half of them. [SPEAKER_04]: No, aren't we?

[SPEAKER_04]: We're talking per talk about to the to the rafters Just loud as can be amazing so again Really proud of her and happy for her because this is about life experiences and what a great story what a great experience You have to be so proud all all [SPEAKER_05]: all three of your kids, and I've gotten to know each of them in a different way, are so special. [SPEAKER_05]: You and I, you and I, and like, and the apple doesn't fall far from the tree.

[SPEAKER_05]: I mean, you guys are special people. [SPEAKER_05]: I mean, that was one of the common bonds we had in law school when we first met is that we were one of the few only married couples that were going to the law school. [SPEAKER_05]: And we got to talk about that in the commonality of basketball and then obviously law and and we just took it from there. [SPEAKER_05]: Yeah, I was dragging kids to class sometimes.

[SPEAKER_03]: So you know what, this is a perfect opportunity for me to break in and do something that's totally self-serving, but for all of us. [SPEAKER_03]: Thank you, Pennsylvania. [SPEAKER_03]: Thank you, Pennsylvania, for instilling in us and in your children. [SPEAKER_03]: The drive and commitment associated with trying to be great at athletics sports makes you a better person if you commit yourself to it.

[SPEAKER_03]: And I also want to say, thank you, Pennsylvania, for having such a wonderful set of world class universities. [SPEAKER_03]: We just named [SPEAKER_03]: how many of their local here and we can name 20 more. [SPEAKER_03]: Thank you Pennsylvania for everything you do for us. [SPEAKER_03]: Thanks for taking such good care of us. [SPEAKER_03]: Cheers to that. [SPEAKER_03]: Yeah, cheers to that. [SPEAKER_03]: I'm reaching. [SPEAKER_05]: I'm reaching.

[SPEAKER_05]: I don't want to make a microphone again. [SPEAKER_05]: I'm sure if you, if you're listening to your song, I'm like went from this side to that side. [SPEAKER_05]: As we're getting used to these new boom mics, which are nice. [SPEAKER_05]: But now I can see where I'm talking and I'm not going to hit it again unless we get really animated. [SPEAKER_05]: And I'm coming across the chair. [SPEAKER_05]: And that might be the bourbon or the ice cube.

[SPEAKER_03]: You guys have to wash your outtakes. [SPEAKER_03]: You already got a close impression of what the heck is. [SPEAKER_02]: I did. [SPEAKER_02]: Mike, miss happen the night. [SPEAKER_02]: Yeah. [SPEAKER_02]: I did. [SPEAKER_03]: We'll just keep track of that. [SPEAKER_03]: So far, it's only the the bottle, the microphone, that lamp. [SPEAKER_04]: If I may add though, the reaction, the cat-like reflex. [SPEAKER_03]: He's so quick. [SPEAKER_03]: Because we kept the bottle.

[SPEAKER_04]: He realized what was important. [SPEAKER_04]: How would the mic get the bottle? [SPEAKER_03]: So let's get into some of the main topic here. [SPEAKER_05]: Let's do, let's dive in, you know, because we've got a little bit of Mr. Edwards background. [SPEAKER_05]: He is well respected, and I just want to say, you know, he, and before we do, I do want to, [SPEAKER_05]: since we are in Super Bowl week. [SPEAKER_05]: Oh, nice.

[SPEAKER_05]: I do want to talk about two more topics before we get into the really dive into the NL because when we get into the NL, this is just a question. [SPEAKER_05]: It's going to be intense. [SPEAKER_03]: Yeah, okay. [SPEAKER_05]: And we're not going to back. [SPEAKER_05]: Yeah, we're going to back for a little while. [SPEAKER_05]: So I got two things that I think we need to talk about. [SPEAKER_05]: Super Bowl week, you know, you being in the space.

[SPEAKER_05]: That was how you started. [SPEAKER_05]: There was before NL was, you were NFL. [SPEAKER_05]: That was your focus. [SPEAKER_05]: Tell us a little bit how you got into the NFL. [SPEAKER_05]: Who was your first, if you can, tell us. [SPEAKER_04]: So I don't know that. [SPEAKER_04]: This is actually a cool story. [SPEAKER_04]: And I know he won't mind me telling the story. [SPEAKER_04]: Which is good. [SPEAKER_05]: I got to meet him through you at Oakmont, and he's really nice guy.

[SPEAKER_04]: So Andy Lee was my first client, University of Pittsburgh. [SPEAKER_04]: And I, you know, so you take the agent, test you for the NFL PAU, you apply in January, you take the test in July, you don't find out to talk to over. [SPEAKER_04]: So in the recruiting cycle, if you're recruiting new clients, you're behind the April, right? [SPEAKER_03]: So it's enough to make a drink. [SPEAKER_04]: It's enough to make a drink. [SPEAKER_04]: So I get my certification in October.

[SPEAKER_04]: Oh my god, not, not what do I do. [SPEAKER_04]: Now I, this is real. [SPEAKER_04]: I gotta, I gotta get you guys. [SPEAKER_04]: So I had a friend who reaches out to me as it's had to, I don't know if I could help you how I can help you, but here's a phone number for Andy Lee. [SPEAKER_04]: He is the biggie, special teams player of the year, two years consecutive, you know, pick guy, you're a pick guy, you know, pit log, great, great guy.

[SPEAKER_04]: So I'm like, all right, he's like, here's his number. [SPEAKER_04]: It's all I got. [SPEAKER_04]: So I remember the so vividly it was it was black Friday after Thanksgiving. [SPEAKER_04]: I'm like, I'm gonna get this guy call another at home. [SPEAKER_04]: So I give him a call, I said, you know, the Sandy Lee is like, yes, the Sandy and I'm like, this is Eddie Edwards. [SPEAKER_04]: Look, I'm a brand new agent, I just got licensed.

[SPEAKER_04]: I have zero clients, but I'd love to represent you. [SPEAKER_04]: I'm like, and I promise you, I'll give you everything I got. [SPEAKER_04]: I will work my tail off for you. [SPEAKER_04]: I will consume all information. [SPEAKER_04]: Everything. [SPEAKER_04]: You know, a few more meetings meet mom and dad, season Zover, you know, you got to do everything by the book. [SPEAKER_04]: You know, can't give the kids anything.

[SPEAKER_04]: So these are just, you know, you're a lot to talk. [SPEAKER_04]: He signs with me. [SPEAKER_04]: So my first year as a certified contract advisor by the NFLPA, I had a draft pick. [SPEAKER_04]: It's a man. [SPEAKER_04]: He was amazing and I got to do it. [SPEAKER_04]: I got to do a shoot deal, right? [SPEAKER_05]: I mean, I mean, he's a puncher So let's let's let's let's be honest.

[SPEAKER_05]: I mean, because punters don't usually get that kind of spotlight But Andy Lee brought that spot. [SPEAKER_05]: He was an all-per-home any years. [SPEAKER_05]: I mean, he he he he went on with so many great teams I mean, he was one of the best punters that ever played the game.

[SPEAKER_05]: I hate absolutely one of the best punters one of the best people [SPEAKER_04]: that ever played the game because Andy Lee is is is one of the best as a human being, you know, off the field, as a family man, on the field, you know, performed at the highest level. [SPEAKER_04]: I mean, 19 years. [SPEAKER_04]: Think about that. [SPEAKER_04]: 19 years. [SPEAKER_04]: 19 years. [SPEAKER_04]: He had one person represent him over 19 years.

[SPEAKER_04]: And I'll tell you what the best part of it is. [SPEAKER_04]: We're still friends to this day, because you talk to him last week. [SPEAKER_04]: We talk probably every other week, a couple of times a month. [SPEAKER_04]: That's the value in what you get out of it, because there's always going to be a beginning in a net, right, to every professional career as a beginning in a net.

[SPEAKER_04]: But when you have those relationships that extend beyond, I mean, Brad was with us last year at an event, we were golfing, you had a chance to meet him, I mean, [SPEAKER_04]: I don't view it as transactional. [SPEAKER_04]: No, what we do is transactional, but at the end of the day, it's the relationship with the individual, right? [SPEAKER_04]: And I tell people, say, why law? [SPEAKER_04]: Like why law versus the contractual stuff with the age of business?

[SPEAKER_04]: And I do both. [SPEAKER_04]: But I tell people, if I'm working as your agent, that's a sync period of time. [SPEAKER_04]: I can be your attorney forever.

[SPEAKER_04]: Right for all your endeavors so and I like being that piece of the puzzle being the piece of the deal team You know a lot of these people consider to consider us family after a certain period of time I consider you and I consider you family and I and I like being a part of that fabric Right, I enjoy that again Passion for what you do you know it being a zealous advocate on behalf of your client That's what I like to do

[SPEAKER_05]: fantastic now we get a little bit inside in your personality we do so you know what do we what do you say we take a break we're gonna take a break and then she's glass we're gonna replace this stoke the fire not Michael not Mike the former right I can't even talk now it is you have your voice but but this happened for the night Brad I know but now's two you know so

[SPEAKER_03]: Come back, we get into some of the nuts and bolts about the world and I'll develop some of your ability to understand and learn from this man's experience. [SPEAKER_05]: We're going to get his Super Bowl pick before we get the Super Bowl pick. [SPEAKER_05]: You know, we got to see who he's looking at. [SPEAKER_03]: We'll be right back. [SPEAKER_00]: in a world increasingly governed by algorithms, what happens to the soul.

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[SPEAKER_05]: Remember that and I can't wait to hear what you have to say and I'm sure listeners are on the edge of their seat to hear about [SPEAKER_05]: You're NFL pick, but we're going to take one pause because we've been enjoying this bourbon, and we have to share a little bit what you brought today. [SPEAKER_04]: So, I brought Ron's Creek, it's a Willett product, you know, it's funny, I didn't start drinking bourbon until I think 2018, a good friend of ours, Curtis Akin, is a kind of sore.

[SPEAKER_05]: He's a kind of sore. [SPEAKER_05]: If you're not the sharpest dress man, it's a close second or first. [SPEAKER_05]: I mean, Curtis is always dressed to that's not even close. [SPEAKER_03]: Yeah. [SPEAKER_03]: Kurt Kurt Kurt Kurt. [SPEAKER_04]: I mean, he is. [SPEAKER_05]: He is. [SPEAKER_05]: Kurt wins. [SPEAKER_03]: I never feel like I'm dressed like a farmer. [SPEAKER_03]: The night we went to hang out together. [SPEAKER_03]: I'm on his woven wearing dungaries.

[SPEAKER_03]: It was it was very embarrassed. [SPEAKER_03]: Oh, Curtis is always. [SPEAKER_05]: I mean, he looks the part. [SPEAKER_05]: He is so smooth. [SPEAKER_05]: Plus. [SPEAKER_05]: being a pit fan and watching him in the 80s when he dominated the point curve resolution. [SPEAKER_05]: I mean, he was one of the best. [SPEAKER_04]: You know, I know we've been telling stories but one of the interesting things, so I've known Kurtz since I was in middle school.

[SPEAKER_04]: Always looked up to my pit guy, you know, pit basketball. [SPEAKER_04]: Their media guide, one year had a picture of the team and I kept it for years and I finally gave it to Kurtz. [SPEAKER_04]: But the team picture, [SPEAKER_04]: was the entire team at suits, and I promise you, at 21, 22 years old. [SPEAKER_04]: You know what I'm saying? [SPEAKER_04]: It was the best dressed man in that photo. [SPEAKER_04]: So he now owns Provado 14, which is the premier.

[SPEAKER_03]: Thank you for taking us there. [SPEAKER_03]: Yes. [SPEAKER_03]: No, it is the premier. [SPEAKER_05]: It is the premier. [SPEAKER_05]: It is the premier. [SPEAKER_05]: And it is the exclusive. [SPEAKER_05]: And it's so, you would not know. [SPEAKER_05]: It's at least his first, for what all in Pittsburgh. [SPEAKER_05]: You would not even know it existed. [SPEAKER_05]: It's very discreet. [SPEAKER_05]: Right next to his business.

[SPEAKER_05]: uh... gated entry you walk in a court just put angry in the back of course which caught my eye and then this beautiful showcase room uh... were all the members have their own locker yet you have a beautiful bar the night the first night you brought me and it left such an impression because they had a little job jazz ensemble absolutely not on the corner and of course of course me clerk you know just dressed [SPEAKER_05]: to the nines. [SPEAKER_04]: I mean, he is the perfect host.

[SPEAKER_04]: He's a perfect host. [SPEAKER_04]: Again, better human being. [SPEAKER_04]: Yeah. [SPEAKER_04]: And help me to develop a bourbon palate. [SPEAKER_04]: He takes members of the club to certain bourbon tours. [SPEAKER_04]: So you go into bourbon trail. [SPEAKER_04]: He took us to Buffalo Trace, right? [SPEAKER_04]: Where we met the original master distiller of Blanton's grandson.

[SPEAKER_04]: And one of the things that resonated with me and Kurt probably has the most impressive bourbon collection I've ever seen. [SPEAKER_04]: Like, literally, hands down, top to bottom. [SPEAKER_04]: He's got it all.

[SPEAKER_04]: and and he's also got the red velvet room of our velvet room right on stairs you drink and burn it you know so that price points it in a red velvet room actually affects the flavor I mean it does taste better the ambiance is amazing yeah not mentioned the four-screen you know it's the best advice I got from this gentleman from Buffalo Trace Freddie Johnson so I'm gonna say his name is easy is an amazing human being if you're ever at Buffalo Trace look him up

[SPEAKER_04]: He said to me one day goes, Eddie, we're kind of bourbon's, do you have? [SPEAKER_04]: I'm like, rattle and off all these names, Brad, do you see some of the things I have? [SPEAKER_04]: Again, not even close to Kurt, but I've got a couple of things in there. [SPEAKER_04]: You have a pretty nice collection. [SPEAKER_04]: And he said, Eddie, are they open? [SPEAKER_04]: That's all, now they're on, Eddie. [SPEAKER_04]: Burbans meant to share.

[SPEAKER_04]: He's like, it's meant to bring people together. [SPEAKER_04]: Amen. [SPEAKER_04]: I want you to open those bottles and share them. [SPEAKER_04]: And that resonated. [SPEAKER_05]: Well, I think about it. [SPEAKER_05]: And it resonates with us because everything's always better with Burbans. [SPEAKER_05]: Yeah. [SPEAKER_05]: Always better with Burbans. [SPEAKER_05]: What a segue. [SPEAKER_05]: What does segway see how we work together?

[SPEAKER_04]: Could you imagine us and court together? [SPEAKER_04]: Oh, no. [SPEAKER_03]: I don't want to be on the other side. [SPEAKER_03]: Let's get you in court. [SPEAKER_05]: You're always on the contract side. [SPEAKER_05]: I would love to have you in court. [SPEAKER_03]: More likely to be a client. [SPEAKER_03]: You do criminal. [SPEAKER_05]: Actually, we set it up this way. [SPEAKER_04]: Brad and I are representing Deacon here. [SPEAKER_04]: Yeah, we are.

[SPEAKER_05]: May it please the court. [SPEAKER_05]: No, but so let's get into the real heart of the man. [SPEAKER_05]: We are at the cusp of Super Bowl week. [SPEAKER_05]: and we've got two other prominent teams, and I did call these two teams if we were, but again, what was the hard part of calling it? [SPEAKER_05]: They were both the best in their division. [SPEAKER_05]: So, but they survived. [SPEAKER_05]: And there were some good games going through the playoffs.

[SPEAKER_05]: Could have gone either way a few times, a few controversial calls, Buffalo coming to mind and it cost a coaching job. [SPEAKER_05]: So, who do you see and who do you like coming up? [SPEAKER_04]: You know. [SPEAKER_04]: I usually tell people I root for players, not teams, because of the business that I'm in. [SPEAKER_04]: Yeah, fair. [SPEAKER_04]: You know, so I want to see a good game. [SPEAKER_04]: I mean, I think at the end of the day, I mean, I've been to so many Superbels.

[SPEAKER_04]: So many Superbels. [SPEAKER_03]: Well, you go manually. [SPEAKER_03]: Let's be tough. [SPEAKER_04]: Well, you know what, I'm going to share a little insight with you. [SPEAKER_04]: If you haven't been to one and you can't go to one, great opportunity to go. [SPEAKER_04]: You know, I got to take my dad to his first and last, because he didn't want to go back, because it's a chore.

[SPEAKER_04]: But, you know, watching it at home, there's something about that, there's something about it. [SPEAKER_04]: Because, you know, you go, there's security, there's lines, there's all that other good stuff. [SPEAKER_04]: You don't get the replays, right? [SPEAKER_05]: Well, it's changed with 4K TV, with the camera angles, with the sound, you know, it is, is the different game than the blurry game that we grew up watching, absolutely.

[SPEAKER_04]: But, but the NFL does such a tremendous job. [SPEAKER_04]: They do. [SPEAKER_04]: It's a show. [SPEAKER_04]: Remember, at the end of the day, everybody forgets, this is entertainment. [SPEAKER_04]: Right. [SPEAKER_04]: The reason they're able to have such large media contracts, it's entertainment. [SPEAKER_04]: They want to entertain. [SPEAKER_04]: Well, from the pre-show to the halftime show to the post show, during the game, it's been entertaining this year.

[SPEAKER_05]: And these two teams I think are going to battle it out. [SPEAKER_05]: They're both... [SPEAKER_05]: very strong. [SPEAKER_05]: They both got great up-and-coming, you know, Sam Donald, you just, you know, his last few years have just been a fun to watch, becoming from Minnesota to now Seattle, and then Drake May, those shoes, those shoes are so big. [SPEAKER_05]: How did he fill the goats shoes, and now look what he's doing?

[SPEAKER_05]: I mean, he, and speaking of shoes, and maybe the good segue with Drake May, since you're wearing North Carolina shoes, North Carolina. [SPEAKER_05]: Yeah. [SPEAKER_04]: I'm a shoe efficient. [SPEAKER_04]: I mean, I don't know how I put this in frame. [SPEAKER_04]: Do I just lift my foot? [SPEAKER_03]: I just lift this with the right of the dirt. [SPEAKER_03]: It is, yeah. [SPEAKER_03]: I just have to pay and make Jordan. [SPEAKER_03]: And he's got sneakers on payroll.

[SPEAKER_05]: Those are impressive. [SPEAKER_05]: So how did you come by those? [SPEAKER_05]: I can't tell you. [SPEAKER_05]: Okay. [SPEAKER_05]: You got to have a plug. [SPEAKER_04]: You got to have a plug. [SPEAKER_04]: Such a thing as a sneaker plug and I got a sneaker plug. [SPEAKER_04]: Well, you can't buy those. [SPEAKER_04]: No, you can't buy those. [SPEAKER_04]: I think they'd be hard to find, but it's a great shit and look. [SPEAKER_04]: it's about your personality.

[SPEAKER_04]: The great thing about professionalism now, and if you notice it, you know, downtown around, you see people with suits on. [SPEAKER_04]: A lot of times, we'll have tennis shoes on. [SPEAKER_04]: In the right environment, right? [SPEAKER_04]: You can't do that all the time. [SPEAKER_04]: You can't go into court there. [SPEAKER_04]: But it demonstrates your personality.

[SPEAKER_04]: So I look, the shoe thing for me isn't like some of these people doing it five or ten years when it's become, you know, the cool thing to do. [SPEAKER_04]: I've been doing it since the mid-80s. [SPEAKER_04]: I could tell you my [SPEAKER_04]: Tom, the first shoe that actually met something was the feel is back when I was in seventh grade. [SPEAKER_04]: No kidding. [SPEAKER_04]: Right. [SPEAKER_04]: Then I got the converse school. [SPEAKER_04]: They were the converse weapons.

[SPEAKER_04]: Yep. [SPEAKER_03]: Yeah. [SPEAKER_04]: Oh, yeah. [SPEAKER_04]: I was the first person in my school to have your Jordan's. [SPEAKER_03]: Yeah. [SPEAKER_03]: Oh, can I had the, which for $65 at the time?

[SPEAKER_03]: Oh, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the [SPEAKER_03]: Yeah, actually. [SPEAKER_03]: That was our team shoot.

[SPEAKER_03]: I wanted I wanted to join my dad's like, no, no, no, I don't actually good for you. [SPEAKER_04]: No, and that's Nick, Nicker's have evolved and I joke to this day. [SPEAKER_04]: I know this isn't the topic of our discussion, but you know, I love the days where you get to go to the mall, get to wait and line, right? [SPEAKER_04]: Or know somebody to get to shoot, right? [SPEAKER_04]: But now with all the bots and all this other stuff like, I, I'm going to look out.

[SPEAKER_04]: I got no shot. [SPEAKER_04]: unless you have a plug, unless you have a plug, yeah, somebody can help you out, so that's right, but you know, speaking of shoes that fits into this whole thing because now the shoe companies

[SPEAKER_04]: are impacting they are and I out but you still haven't shared your super ball picks you know back in the do it I was always kind of sidetracked I mean I get it's interesting I mean I got two new coaches with two new teams right you know but nobody picked either one of these teams to be there not not in the beginning year that's for sure you know if I if I if I if I [SPEAKER_04]: It's tough.

[SPEAKER_04]: I mean, I think from a momentum standpoint, maybe the seahawks, because they look really tough. [SPEAKER_04]: They look tough, but how can you not love Mike Raeble and what he's done in New England? [SPEAKER_04]: I got an opinion and you know, Drake, Drake, man, what he's done up there with the opportunity. [SPEAKER_05]: I think it's impressive. [SPEAKER_05]: He's won the city and the area back over again.

[SPEAKER_05]: I mean, unfortunately, when Bella checked, you know, had to leave and top-ready retired or moved on to Tampa for, first retired and then moved on to Tampa. [SPEAKER_05]: Right. [SPEAKER_05]: And then, you know, that's a hard loss. [SPEAKER_05]: I mean, I'm not even a New England fan, but I could feel it from down here. [SPEAKER_05]: I mean, that's a heart, you're, you're talking about two legends that had a 20-some-year stretch going together. [SPEAKER_05]: It's changed.

[SPEAKER_04]: It is. [SPEAKER_04]: And that's what's the most difficult for the fans. [SPEAKER_05]: But they've, but they've done a wonderful job this quick. [SPEAKER_05]: To be right back, we're Tom Brady took him so many times. [SPEAKER_04]: And again, Kudos to their personnel departments, right? [SPEAKER_04]: To finding the right pieces of the puzzle. [SPEAKER_04]: People forget there's a lot that goes into this, right? [SPEAKER_04]: It's not just in coach and the X's and those.

[SPEAKER_04]: It's the Jimmy and the Joe's, right? [SPEAKER_04]: So it's the individuals who are out there the scouting departments who are working diligently to find those right pieces of the puzzle. [SPEAKER_04]: It's it's free agency. [SPEAKER_03]: You interact right? [SPEAKER_04]: Who's got? [SPEAKER_04]: Absolutely, you have to do that for the game as well, but you pull back the curtain. [SPEAKER_04]: You have to interact with personnel departments, right?

[SPEAKER_04]: You have to interact with college personnel for your college prospects, right? [SPEAKER_04]: You have to interact with pro personal for your pro prospects, right? [SPEAKER_04]: For free agency. [SPEAKER_04]: You know, get data. [SPEAKER_04]: How do you feel about this guy? [SPEAKER_04]: How do you think he fits in your system? [SPEAKER_04]: You know, again, and it goes back to what do we discuss first and we got on the set here was relationships.

[SPEAKER_04]: You got to have those relationships, you know, you got to shake the hands and people say to me all the time. [SPEAKER_04]: You know, you travel so much. [SPEAKER_04]: You go to some cool places. [SPEAKER_04]: It's hard. [SPEAKER_04]: It's exhausting.

[SPEAKER_03]: right because you're on you know you're gonna all star games not just to see your guys but to interact with the scouts where they're evaluating that's right you never want to come out of times those personalities and those people because these are humans we're talking about but it's the same level of due diligence that any investors can do in the market and you can you can trust the data

[SPEAKER_03]: But sometimes the data is not going to portray the reality, you're going to have a relationship to help you see beyond the data, help you learn stuff that's not apparent in the data. [SPEAKER_03]: Right, remarkable the parallels. [SPEAKER_04]: Well, it's not so much the good stuff they do either. [SPEAKER_04]: Yep, you're going to note the bad things they do. [SPEAKER_03]: Yeah, I always ask. [SPEAKER_05]: Well, it's a question. [SPEAKER_05]: What are the knocks?

[SPEAKER_05]: Well, what are we up against? [SPEAKER_05]: Yeah. [SPEAKER_05]: And these are, this is all the due diligence that's so intense because the Super Bowl is the biggest [SPEAKER_05]: betting game of the year. [SPEAKER_05]: I don't bet on a normal basis, but I Super Bowl's probably the one time I do. [SPEAKER_05]: I like to be squares. [SPEAKER_05]: Yep, that me too. [SPEAKER_05]: I like to be part of that, and I'm picking the Patriots. [SPEAKER_03]: You know where I'm at?

[SPEAKER_03]: See, Hawks for me, I'm just going to cut it off there. [SPEAKER_03]: I won't be negative. [SPEAKER_03]: Deep, can you tell us? [SPEAKER_03]: Yeah, I'll tell you right. [SPEAKER_03]: I'll tell you again, last week. [SPEAKER_03]: Yeah, I'll tell you again next week. [SPEAKER_05]: Yeah, yeah. [SPEAKER_05]: That's because you had, you had, we're not talking about it. [SPEAKER_04]: Yeah, we don't talk about it. [SPEAKER_04]: And I'm a fan and I'm not wagering.

[SPEAKER_04]: So, there we go, there we go. [SPEAKER_04]: But I mean, great transition again into NIL what we're here to talk about. [SPEAKER_05]: So I tried to pull it on twice, but I'm not going to get it. [SPEAKER_05]: So he got it. [SPEAKER_05]: But we're, we don't. [SPEAKER_05]: That was the studio transition. [SPEAKER_05]: Transition. [SPEAKER_04]: Yeah. [SPEAKER_04]: That's a lawyer. [SPEAKER_05]: That's a lawyer.

[SPEAKER_05]: And let me just tell, as a close friend of yours for 26 years, I've done multiple business ventures with you, which I've been privileged to. [SPEAKER_05]: It's been so much fun. [SPEAKER_05]: And seeing you work behind the scenes, your ethics, which that goes so long. [SPEAKER_05]: You know, and just so you know, he was the chair of the Pennsylvania ethics board and I was a hearing committee chair. [SPEAKER_05]: That's right. [SPEAKER_05]: The disciplinary boards.

[SPEAKER_05]: Which shows you that our peers think of Eddie so highly in regard to. [SPEAKER_05]: So Eddie, I just want to put that out there and look, I know I was teasing you trying to get it out. [SPEAKER_05]: I know you can't do that, but the [SPEAKER_04]: Again, but it's interesting, we were talking about evaluation. [SPEAKER_04]: Think about that in the sense of how you're putting together your rosters now for collegiate sports. [SPEAKER_03]: First of all, he's right.

[SPEAKER_04]: Personalities matter, but the evaluation of talent. [SPEAKER_04]: Think about when the portal opens. [SPEAKER_04]: and how you have to evaluate to fill out your roster now. [SPEAKER_04]: It's a whole different game. [SPEAKER_04]: Whole different mobile, global. [SPEAKER_03]: And it's talking about a 10 team league. [SPEAKER_03]: No, global business now. [SPEAKER_03]: It is.

[SPEAKER_05]: And I think this is what has really ruffled feathers on the NIL is because that predictability, that business model, that governance model, that was in sports, collegiate sports, especially, has changed overnight.

[SPEAKER_05]: it's been disruptive it has and so all this stuff that you work so hard and you've got so good and you've got so familiar as a coach and you worked your way through the ranks whether it was a grad assistant whether it was playing and then getting into the coaching area and you can see why some of these coaches are frustrated you can see why some of these administrators are frustrated you can see why the fans are frustrated because everything's changed well I mean you think about the ecosystem right

[SPEAKER_04]: It was grassroots basketball, you know, whatever it was football, now seven on seven will go evaluate. [SPEAKER_04]: We're gonna identify these freshmen that come in our program. [SPEAKER_04]: We're gonna develop them over years. [SPEAKER_04]: Hopefully you don't transfer. [SPEAKER_04]: They graduate seniors go to the NFL, do whatever they do, right?

[SPEAKER_04]: Now, in the advent of, you know, you can transfer after the years over, you've got a portal, you know, that's how it's the window, right? [SPEAKER_04]: You know, there's still a valuation at the younger stages. [SPEAKER_04]: But in a win society, where people want to see that ROI in our business immediately, right? [SPEAKER_04]: They got to win. [SPEAKER_04]: So in order to win, you want to go to proven commodities.

[SPEAKER_04]: You talked about commodities early, and proven commodities. [SPEAKER_04]: And what is that as you go into the portal? [SPEAKER_04]: You evaluate this guy played it maybe a mid-major or a low-major. [SPEAKER_04]: He could fit well into my high-major program. [SPEAKER_04]: I see his film. [SPEAKER_04]: I see what he did against in his non-conference games, against other teams. [SPEAKER_04]: and you go and you get those individuals.

[SPEAKER_05]: Now, who has been better and just on that evaluating commodities? [SPEAKER_05]: Who has been better at finding the secret gems and Kurt Signetia in Indiana? [SPEAKER_05]: I mean, that's story this last, I mean, that that story this last year you have won, right? [SPEAKER_04]: Unbelievable. [SPEAKER_04]: Yeah. [SPEAKER_04]: They have mastered it.

[SPEAKER_05]: Um, I mean, that was a master class and how to put together a roster is he maybe rewriting the script and maybe you write in the book on how to Perform at a high level, you know, mix Saben his his mentor when he was at Alabama. [SPEAKER_05]: He had the script on right. [SPEAKER_05]: He was the repeat guy that was always there competing every year And out and and I else would drew him out of it at least on the face of it, right?

[SPEAKER_05]: So [SPEAKER_05]: Here he got Kurt Signetti, who was a part of that, but he's figured it out. [SPEAKER_04]: He's figured it out quickly. [SPEAKER_04]: They did a tremendous job. [SPEAKER_04]: I mean, I'm not privy to what they spent in who got water wear, but when you just look at the Constitution of the roster and going and finding like him and Dosa. [SPEAKER_04]: And then Dosa, wow, right? [SPEAKER_03]: That's incredible. [SPEAKER_04]: That's incredible.

[SPEAKER_03]: Who's that offensive line when he got from Notre Dame? [SPEAKER_03]: That's a huge pick-up. [SPEAKER_03]: They grab that kid. [SPEAKER_04]: I mean, they brought a lot of guys over, I think, from JMU. [SPEAKER_05]: And I think they had 13, 13 top, I mean, that that says a lot about your coach too. [SPEAKER_05]: I mean, if you're willing to jump and go with him to the next level, that's just rough, though. [SPEAKER_05]: Right.

[SPEAKER_05]: But now you have that buy-in from your player as a JMU and beyond that, like, [SPEAKER_04]: You know, how this statistics in front of me, but I think they had the least amount of four and five star players on their roster and any other school. [SPEAKER_04]: The bifstors, if they had any, if they had any. [SPEAKER_04]: So when you go back and look at it, you know, there's different ways to view talent.

[SPEAKER_04]: But, you know, they found the best combination versus the most amount of four and five star athletes that you hope turned into. [SPEAKER_04]: you know, national champions. [SPEAKER_03]: So spot in that talent is a unique skill that maybe Signetti has in a way that others don't seem pretty clear that he might. [SPEAKER_03]: But that ain't the whole story. [SPEAKER_03]: You got to have a pile of money to help pay for it. [SPEAKER_03]: And Indiana had that in a unique way as well.

[SPEAKER_03]: Right. [SPEAKER_03]: So how did I mean? [SPEAKER_04]: Obviously they had they had the support to do what they needed to do. [SPEAKER_04]: You know, last year was a unique, the revs, a lot of wasn't revs [SPEAKER_04]: You know, the opportunity to pay the players is a unique place because of the advent of the house settlement. [SPEAKER_04]: That's right.

[SPEAKER_04]: So the house settlement didn't take effect until July 1. [SPEAKER_04]: So just for a listeners, what was that settlement? [SPEAKER_04]: So the settlement was a consolidation of cases, which finally allowed the universities to do two things.

[SPEAKER_04]: They were able to, to, to, to, to, to, to, to, to, to, to, to, to, to, to, to, to, to, to, to, to, to, to, to, to, to, to, to, to, to, to, to, to, to, to, to, to, to, to, to, to, to, to, to, to, to, to, to, to, [SPEAKER_04]: Pay a settlement so athletes they come through for a certain period before this time You know, we're a 10-year span. [SPEAKER_04]: It was about 2.5 billion in the settlement.

[SPEAKER_04]: They're up right to the to those student athletes And an allowed university's not a directly pay and they were a legend that their name Images and likeness right right. [SPEAKER_04]: Yeah, and I want to make that distinction. [SPEAKER_05]: Yeah, make we make the distinction [SPEAKER_05]: I think it's important to understand what that case was. [SPEAKER_04]: Well, I think the distinction of what this is is really important.

[SPEAKER_04]: Because I think when you talk about bantering and restaurants and family gatherings, it sounds like it's paid a play. [SPEAKER_04]: It's not. [SPEAKER_04]: It's name, image, likeness. [SPEAKER_04]: That's an IP right. [SPEAKER_04]: It sure right to exploit your name, image, and likeness. [SPEAKER_04]: It's a new one. [SPEAKER_05]: Just like the beautiful face over here.

[SPEAKER_05]: You know, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, [SPEAKER_05]: in the beautiful face behind the camera with all that makeup on it. [SPEAKER_05]: But I mean, it is your face, your image, your likeness. [SPEAKER_05]: Nobody else has a right to it, but yourself. [SPEAKER_05]: And that's for yourself. [SPEAKER_03]: And I'll write, I'm sorry, let me ask you. [SPEAKER_03]: And it can be 100% predicated on your skill on the field.

[SPEAKER_03]: But it doesn't have to be. [SPEAKER_03]: If you have the ability, it's not a athlete to go out. [SPEAKER_03]: Maybe you're a kind of a mid-laying bench player, but you have something unique about your personality. [SPEAKER_03]: The people are willing to sponsor. [SPEAKER_04]: I mean, there's no limits to who can get name image and like this one. [SPEAKER_03]: There isn't, right? [SPEAKER_04]: And in fact, I'll tell you this, something interesting.

[SPEAKER_04]: I've heard of programs that have brought in athletes that may or may not have made a roster in the past, but they have an incredible social media following. [SPEAKER_04]: Right.

[SPEAKER_04]: Right. [SPEAKER_05]: So I just read that in their day and saw something here today that that is actually now becoming [SPEAKER_05]: Kind of trending and because they're looking at it as a business right they're looking at their rate of return that we're talking about right and that's also Been some of the negative sides right. [SPEAKER_04]: Well, it's a visibility.

[SPEAKER_04]: I mean And just to go back to the to the name image and likeness just piece of this just for clarity right again now the student athlete can monetize that they can monetize that You know through the university through revshare and they couldn't be for right and that was that was illegal and you would get kicked out if you got [SPEAKER_05]: If you did that, that was, it was, in fact, players that even took anything beyond the scope.

[SPEAKER_03]: Listen, when I was at my brief fleeting association with Division 1 Sports, I could never job for fear of there being some sort of impropriety or somebody paying me for something to give me money that I wasn't, didn't last very long. [SPEAKER_05]: I didn't realize La Coppola was a sport. [SPEAKER_03]: Yeah, you're right, right. [SPEAKER_03]: But yeah, I mean to the point, it's competitive of Occupala, by the way.

[SPEAKER_03]: There was a way for his heat to compete like motherfuckers, I think, one of a karaoke session, yeah, okay, I'm sorry to be interrupt. [SPEAKER_04]: But no, but again, now they have the opportunity through the College University to monetize that name image and likeness, right?

[SPEAKER_04]: You know, for services, a lot of college and university to exploit their name image and likeness to the benefit of the program, right, up to the $20.5 million cap, which is funded by sponsorships, media, and ticket sales. [SPEAKER_05]: Right. [SPEAKER_05]: So this is so interesting because you know, they set this arbitrary cap. [SPEAKER_05]: Is that going to come under fire?

[SPEAKER_04]: Well, no, because I mean, they have their formula or how they came up with a number, you know, taking the average. [SPEAKER_04]: That's all part of the settlement, right? [SPEAKER_04]: It's all part of the settlement. [SPEAKER_04]: So, let me say this to your listeners, the CSC has a great website, College Sports Commission, breaks all this down for you.

[SPEAKER_04]: So for those, you know, nerds like us, who want to learn about the looks and the crannies and you know, really get behind the curtain, you can go there and find all the data that you want. [SPEAKER_05]: And this is very helpful to understand how this all progressed. [SPEAKER_05]: So the initial lawsuit that arose that ended in that $2.5 billion, they alleged, and how many years did they go back?

[SPEAKER_05]: That they were alleging was a ten years that athletes that had already been out of sports. [SPEAKER_04]: Yeah, I think it went back to, I think the year was 2016. [SPEAKER_04]: Right. [SPEAKER_04]: Was the year 2014, one of the two. [SPEAKER_04]: Um, but I mean, it started back if you want to go back. [SPEAKER_04]: It started with a band. [SPEAKER_04]: That'll be a band. [SPEAKER_04]: Yeah, it'll be a band. [SPEAKER_04]: You feel like basketball is going on.

[SPEAKER_04]: And I know that complaint was, he's, he's, he's our, you know, I can remember playing, uh, in like, Eastern sports, but I mean, it went back to EA Sports, right? [SPEAKER_04]: You know, and say basketball, where, you know, you're using athletes, you know, their likeness in the game. [SPEAKER_04]: You know, exactly who they are. [SPEAKER_04]: That was a video game. [SPEAKER_04]: It was a video game, right? [SPEAKER_04]: It was.

[SPEAKER_04]: that came with that, that didn't go to the student athletes. [SPEAKER_04]: That's right. [SPEAKER_04]: So now you flash forward, the student athletes are saying, wait a second, you know, you're you're exploiting our intellectual property. [SPEAKER_04]: Yeah. [SPEAKER_04]: And we get some of that. [SPEAKER_05]: And so the lawsuits that kind of arose after, let's get all stim.

[SPEAKER_05]: So what resulted from this settlement, there was, did Reb share also result from this, where are at right now as a derivative of that settlement? [SPEAKER_05]: Okay, so tell the listeners, how rep, what rep sure is and how that came about. [SPEAKER_04]: So again, the rep share is the College University's ability to pay the student athletes for the exploitation of their name, image and lightness, right?

[SPEAKER_04]: And it's supposed to put everybody on that somewhat of an evening, evening, even playing field. [SPEAKER_04]: But the issue is there's a cap, it's 20.5, and again, 20.5 is made up of it. [SPEAKER_04]: I predict that's coming to the end, right? [SPEAKER_04]: I think it's sales and sponsorships, but here's the issue guys, just because that's the cap doesn't mean that's what you have to spend, right? [SPEAKER_04]: So, you know, P4s are automatically in that group.

[SPEAKER_04]: And if you're not a P4, you could opt in. [SPEAKER_04]: There was a, it does. [SPEAKER_04]: And what's a P4? [SPEAKER_04]: Power for school. [SPEAKER_04]: Okay. [SPEAKER_04]: That's your SEC, SEC. [SPEAKER_04]: Big 10 big 12. [SPEAKER_03]: Right. [SPEAKER_03]: So my way for us, even though they're part of that group, you're in that group. [SPEAKER_04]: You're in that group.

[SPEAKER_04]: No, but, but what it allowed for a lot of schools to do if you opted in was, you know, you know, one of the biggest things which you got the roster spots, right? [SPEAKER_04]: There's increased roster spots now. [SPEAKER_04]: So, you know, football is 85 scholarships, now it's 105 roster spots. [SPEAKER_04]: Oh, my. [SPEAKER_04]: Now, you read the article that's going to affect walk-on to other opportunities for student athletes on, you know, and that's been worked.

[SPEAKER_05]: That's been a very good, if you're looking at the pros and cons of how this is all. [SPEAKER_04]: But it's good. [SPEAKER_04]: And if you look at sports like, I think baseball has 36 roster spots now, when it had 11.7 scholarships, right? [SPEAKER_04]: So that's phenomenal. [SPEAKER_04]: And now, [SPEAKER_04]: Every spot you have above those scholarships spots that you previously had, they have to come out of your revshare cap. [SPEAKER_04]: Right, so that's how you fund it.

[SPEAKER_04]: But now if you're a baseball program and you're fully funded, you could have 36 scholarship baseball players. [SPEAKER_04]: It means so. [SPEAKER_04]: And remember, and you use baseball as an example, because I'm a baseball dad that kid who played, you know those aren't those weren't full scholarships. [SPEAKER_04]: Only for some of you had to make 11.7 scholarships spread out across an entire roster. [SPEAKER_04]: You're a golfer. [SPEAKER_04]: Sure, the same thing.

[SPEAKER_04]: These are drinkers. [SPEAKER_04]: Anagolfer. [SPEAKER_04]: Anagolfer. [SPEAKER_04]: I've golfer. [SPEAKER_04]: He could play. [SPEAKER_04]: But when you think about that, you think about the power of that, you think about non-revenue generating sports, what they call the Olympic sports now? [SPEAKER_04]: That's a bonus for those student athletes to now have the ability to actually be on scholarship. [SPEAKER_04]: That's where the problem is.

[SPEAKER_04]: football programs carried a lot more than 105 student athletes, right? [SPEAKER_04]: So that's where it affects, that's the back end effect. [SPEAKER_04]: Now, you know, instead of having all those walk ones, you've got 105 roster spots.

[SPEAKER_05]: Well, then the major case, you know, as two lawyers talking back and forth, and I think it's helpful to understand why the [SPEAKER_05]: college athletes athletics just did this what seemed like to the the normal person a knee jerk kind of reaction where they just one day you weren't allowed to do it the next day it's game on see that's where somebody for like me comes in it's like we had this regulatory regime forever

[SPEAKER_03]: and it's how we all understood amateur sports, and then one day, it all goes away. [SPEAKER_03]: And it seems to the casual fan who doesn't keep up with this stuff every day. [SPEAKER_05]: I mean, you are a casual dresser. [SPEAKER_03]: I mean, those crocks are fantastic with those socks, and that hat, but it seems like such a departure from the way we all came to understand amateur sports. [SPEAKER_03]: You know,

[SPEAKER_04]: I know that we all think about it as though this is like okay the kids are getting paid but there's a whole other piece of this which is the collective right and then there's the revshare there's the collective there's the third party deals because you know there's still collectives but remember out of the CSE there's a whole new kind of process for how you view those because they don't want those to be you know there's third party deals to be a circumvention of the cat.

[SPEAKER_04]: which they theoretically could be if used in an appropriate manner. [SPEAKER_04]: But under the CSC, you know, there's a there's a there's a process to go through. [SPEAKER_04]: Any any NIL deal over $600 has a go, you know, has to be put in NIL go and be evaluated by the CSC, the College Sports Commission. [SPEAKER_04]: right to see a, who are you doing to deal with? [SPEAKER_04]: They want the deals to be with a real third party.

[SPEAKER_04]: They can't be just wink, wink, not, not. [SPEAKER_04]: It has a be a deal with a real entity for services. [SPEAKER_04]: All right, Billy. [SPEAKER_05]: So I'm going to fire back at that. [SPEAKER_05]: Is that really free? [SPEAKER_05]: Yeah, we're talking, and that was a suit that resulted after the settlement, and that is the, is it the Alston, Alston? [SPEAKER_05]: Yeah, Alston.

[SPEAKER_05]: Supreme Court suit, where [SPEAKER_05]: They came under fire for anti-trust because they were dominating this and they were, and then in a concurring opinion, I think Justin's cabin also said, you know, that if you're going to limit the player's ability to do what they want to do, then they're not truly independent contractors as they would be treated on any other industry and the college athletics is not above that. [SPEAKER_05]: They're not exempt from that.

[SPEAKER_05]: And if you're going to continue to do that, then you're going to consider an employer. [SPEAKER_05]: And I think that's the white elephant in the room. [SPEAKER_05]: But my point in that regard is if you're going to limit their ability, and you're going to have to still go in front of a panel, you're still going to have to go in front of a commission. [SPEAKER_05]: You're still going to have to just close all that.

[SPEAKER_05]: Are they not still doing the things that the Supreme Court said that you can't do, but you have to have a framework? [SPEAKER_04]: I understand some type of framework. [SPEAKER_05]: You definitely have to have a framework, but [SPEAKER_05]: But why do they have this framework? [SPEAKER_05]: I mean, why don't they just let the free market flow and let the student negotiate their name, image and likeness to their own, why are they involved in that negotiation?

[SPEAKER_04]: Well, I think they're involved in trying to enforce the terms under the House Summit so that you're not exceeding the 20.5 cap. [SPEAKER_04]: right because you think about it. [SPEAKER_04]: You could do these deals. [SPEAKER_04]: You could say right Brad Martin, I'm going to pay you $1,000 that's going to count against this revenue share cap, but then I'm going to pay you $5 million. [SPEAKER_04]: See, this is where I, this, this and a separate deal and I circumvented the cap.

[SPEAKER_04]: You did. [SPEAKER_05]: So, but this is where I have a really big problem with because it was a settlement that set this cap. [SPEAKER_05]: It wasn't the courts. [SPEAKER_03]: Hey, that's interesting. [SPEAKER_03]: And there's non lawyers. [SPEAKER_05]: That's well, and I would take this back to the Supreme [SPEAKER_05]: You're setting a cap on the free market. [SPEAKER_03]: That would be most CTV people.

[SPEAKER_04]: Well, you're setting a cap for the colleges and universities and how they can spend that money. [SPEAKER_04]: Well, they can spend that within their confines, right? [SPEAKER_04]: So no, the student athlete can go out. [SPEAKER_04]: So the student athlete can, and then maybe that's where I'm confused. [SPEAKER_04]: Those third party deals do not count against the cap. [SPEAKER_04]: OK, good. [SPEAKER_04]: That's where I was, we'll get it.

[SPEAKER_04]: Not gonna, and I appreciate you illustrating that for clarity, because a lot of people can feel it.

[SPEAKER_04]: I do think I'm thinking to sell the cap involved and are we still not limiting that no free market There's a cap on with the college universities can do to exploit their student athletes revshare God, that's got got it and that makes a lot of them you have third party deals which could include You know some what collectors but collectors have to have an actual business purpose.

[SPEAKER_04]: They can't just be a Facilitation so to speak right could go beyond that and do their own do you kick it go up beyond that? [SPEAKER_04]: They could do their own deal, which is evaluated by the college sports companies? [SPEAKER_04]: mission. [SPEAKER_04]: So now they come in and they say we need to make sure these are legitimate deals of fall within the confines of this new structure that we have.

[SPEAKER_05]: And I can understand it because there's otherwise it would just be a passing of the source. [SPEAKER_04]: And anyone to make sure to call it universities aren't setting up companies out there to facilitate and work their way around the cap. [SPEAKER_04]: So we have so much more discussed. [SPEAKER_04]: Yes, you know, I'm going to leave you with this. [SPEAKER_04]: They want to know who the pay or is, right?

[SPEAKER_04]: They want to make sure that the deal has a valid business purpose. [SPEAKER_04]: And then there's a compensation range to make sure the sulfates. [SPEAKER_04]: Now, we're, look, you're going to see I think litigation at some point when certain deals get rejected by the CSE because they do, not all of them past mustard. [SPEAKER_04]: I think that's what I was thinking. [SPEAKER_04]: You know, there's a third part of that.

[SPEAKER_04]: Be a litigation because when you talk about free market and when you talk about value, who am I to tell Brad Martin now, what, what, what deacon Palmer is worth to him any third party deal. [SPEAKER_04]: Right, and conventional wisdom would tell you, you know, what is a social media, you know, followers look like, you know, what kind of outreach does you have in the community, all these other, you know, factors that you could use to try to determine.

[SPEAKER_05]: Deakin's a mystery, he's a mystery, he's a mystery. [SPEAKER_05]: We have so much to talk about, maybe we can go on and on, and in times limited this week, but you know, I do want to continue this conversation.

[SPEAKER_05]: I mean, there's so much to talk about with NIL, we're just starting to, [SPEAKER_05]: get below the surface of why it's here, and there's so much to talk about what's going on in this day and age, where the contracts are coming from, why they're moving, why the time you made it all, where's it going in the future? [SPEAKER_05]: And where do we see it going in the future?

[SPEAKER_05]: So [SPEAKER_05]: We're going to wrap it up today, but we'll be back here and part two with Eddie Edwards. [SPEAKER_05]: This is definitely one conversation. [SPEAKER_03]: We want to continue to keep going, right, Dick? [SPEAKER_03]: Totally. [SPEAKER_03]: And, you know, sending us out, we just really want to say, we really appreciate all of the love and support that we've gotten so early on. [SPEAKER_03]: Hopefully this conversation is speaking your interest.

[SPEAKER_03]: You want to come back and hear the rest of it. [SPEAKER_03]: There's a lot more we're going to go through. [SPEAKER_03]: I know I'm just trying to figure out some of the questions and I want to ask Eddie when I get a chance to talk. [SPEAKER_03]: These guys are doing all the smooth thinking. [SPEAKER_03]: I'm focusing on the fast-drinking. [SPEAKER_03]: But it was a bad here day, too. [SPEAKER_03]: It was a bad here day. [SPEAKER_03]: You never know.

[SPEAKER_03]: Next week, we might talk about that. [SPEAKER_03]: It was a bad here. [SPEAKER_03]: But definitely want to say, thank you so much for tuning in. [SPEAKER_03]: Love ya. [SPEAKER_03]: Everything's better with Barbon and we're looking forward to seeing you next week everybody. [SPEAKER_03]: Cheers. [SPEAKER_02]: Cheers. [SPEAKER_02]: Thank you guys. [SPEAKER_02]: Thank you guys. [SPEAKER_02]: Appreciate it. [SPEAKER_02]: Cheers!

[SPEAKER_01]: The views in opinion shared on the better with bourbon podcast are our own and those of our guests. [SPEAKER_01]: Nothing we discussed should be taken as financial, legal, business or gambling advice. [SPEAKER_01]: Don't make investment, business, or betting decisions based on our conversations as you should always talk to a qualified professional. [SPEAKER_01]: Always drink responsibly, never drink and drive, and only consume alcohol if you are of legal drinking age.