[Music]
hello everyone welcome back to key
studies with the biz doc this week it’s
Major League Baseball advanced media I’m
going to do three things one I’m gonna
take you through the history of Major
League Baseball advanced media where
they came from
how did they get here who funded it and
then number two I’m gonna take you
through what happened halfway along the
way with a spin out of something that
they had built and on a whole nother
billion dollar company and then third
where they are and where they’re going
today including a sad ending for one of
the key figures in sports media so let’s
start with point one the history and
where they came from in 2000 the major
league baseball owners were sitting down
and they created Major League Baseball
advanced media they have to remember
this is a very early time for the
internet the Netscape IPO the single
most important browser at the launch of
the internet that IPO was five years
prior to this and Google’s IPO wouldn’t
be for four more years in 2004 so this
is a very nascent time in the age of the
internet just coming to the fore we have
ISDN modems remember those things with
the b1 and b2 light that finally gave
you 56 K of speed or more than that oh
my gosh 56 K what are you gonna do with
all that speed and this is a time where
everything was early nonetheless they
earmarked a hundred and twenty million
dollars back in 2000 that would happen
this way each of those Major League
Baseball teams would put a million
dollars in the middle of the table every
year for four years and we had 30-some
teams so there you have thirty times
four hundred and twenty million dollars
so it was very simple we’re all gonna
fund this together and all of our
websites are going to be controlled by
Major League Baseball advanced media and
there’s a couple reasons for that number
one the websites would be all consistent
number two each team wouldn’t have to
reinvent its website number three the
websites would be very similar in terms
of content so you don’t have to build
all of the different CMS’s content
management systems for each individual
team that saved the teams each inventing
and hiring a web expert and a
development team and
because it’s all going to be done
consistently by one vendor well the one
vendor they selected failed and so that
moved them to a point to build it
themselves internally using this pot of
money so more than that was on the
horizon because they were also thinking
about streaming and they actually did in
2002 streams some of the first out of
network games so think about this is a
fairly early time but this is some
pretty advanced things that are going on
but that was the dream and that was the
focus well along comes 2003 only three
years later and major league baseball
dot TV is basically cashflow positive
phenomenal stuff in a couple years later
oh five they buy tickets calm and roll
that into the package where you have the
team websites now you also have a ticket
arm and a ticket technology that can be
plugged into each of these team websites
so that you now can sell tickets there
you a couple years later they would also
Knight StubHub mean knighting like I
Knight thee StubHub became the
after-sale secondary market partner of
Major League Baseball and in if you know
StubHub you know shortly thereafter they
incorporated the barcodes so you could
print out your StubHub tickets go to the
ballpark and they were actually scanning
right off the paper you had you didn’t
even have to have the physical tickets
anymore so that was the integration with
StubHub all of this stuff going on in
2006 a year before they made that move
the StubHub guess what they paid back
the money to all of the owners and their
cash flow positive and guess what
the owners never had to put in the four
hundred and twenty million dollars can
you say screaming hit this company that
was being driven by Bob Bowman just an
absolute pillar now he’s going to have a
very sad ending when I get to the
history in 2018 but give credit where
credit’s due
he built a phenomenal organization and
we are about to see what happened on the
foundation for baseball that he built
after it you know StubHub
they start incorporating these digital
properties into other formats so in 2008
recall that’s when the iTunes Store was
in full bloom and you also had advanced
iPhones on the market with more memory
and capability
well Major League Baseball at bat is
launched in 2008 so suddenly you could
do so much on the phone with all the
stats and see the games as they were in
progress and as in addition to that
along what they would be adding is
streaming that would come along with
that as well as stats and all sorts of
other things so suddenly now you have a
companion product to the web which is
the at bat product which was a screaming
hit from day one oh nine they bring
Bloomberg into it now what do you bring
a financial player into it for well the
answer is one really a financial player
Bloomberg bought all of their stats and
analytics into it and they use that to
make advanced call it sabermetrics
materials that would be available for
the fantasy players so you’re in a
fantasy leg or a rotisserie League out
there somewhere and you’ve got Major
League Baseball at bat Major League
Baseball online and now you are able
thanks to Bloomberg to get even more
advanced stats on the players and teams
then with streaming working very very
well 2010 guess what ESPN 3 needs a
partner to help them with over-the-top
streaming and who they turn to Major
League Baseball advanced media now
you’re saying why ESPN 3 well I think
that’s a sign that you know ESPN was
testing and we’re gonna see what happens
to that test in a little bit then they
made it work on iPad I don’t know if you
remember the iPad version of Major
League Baseball at bat with the
streaming it was phenomenal suddenly you
basically had an HD game if you paid for
that in addition to an amazing screen
and pitched by pitch and also listening
to the radio broadcast for in town and
out of town and that’s where when I
moved from Los Angeles to Dallas that’s
where I was listening to my beloved Los
Angeles Dodgers on my major league
baseball at bat right there on my iPad
well they hit that out of the park
and in 2011 within four months of
starting the season they had a new
record for subscribers in 2012 within
one week of the start of the season they
had over 12 million subscribers and they
hit that ball out of the park now along
the way they were also starting to help
other media companies with their
streaming needs let’s go take a look at
what happened with that because it is a
lesson of how you can monetize
technology that you already have in
adjacent markets as they were getting
ready to do that let me interject
something 2k had been making a baseball
2k product Major League Baseball 2k and
that was good for a while and then it
was announced 2k said I’m not gonna make
this baseball product anymore starting
in 2015 so they figured we built all
this technology we’ve done all this
stuff with on us web stuff screw it
we’ll make a video game
hang on cowboy video games are a little
bit more difficult than this other stuff
there’s a lot of dynamics that goes into
video games nonetheless they took a
small group of people and tried to make
the first 2k game convert which they
called RBI baseball so they converted
everything they’ve been doing on 2k
which was obviously a separate product
by separate game developer all the
knowledge all the insights and
everything and they tried to bring that
into something called RBI baseball an
RBI Baseball similar to the Cubs fans
it may take a hundred years to get it
right and if you read some of those game
reviews over the years but nonetheless
Major League Baseball was now a game
developer a game publisher and a
producer and a web developer and a
streaming provider all going on right
here with the streaming having signed a
lot of cool partners such as HBO for HBO
now the PGA Tour national hockey league
WWE so what’s going on well everybody is
recognizing that Major League Baseball
wasn’t just building a video service
from Major League Baseball they built a
video service a streaming service for o
that over the
usage on phones iPads and connected
televisions in HD that was phenomenal
so these other folks are saying I don’t
want to go reinvent the wheel I’ll come
work with you and that’s where it
happened so successful it was and in
2015
BAM tech was formed and what is BAM Tech
baseball advanced media technology and
basically they spun out in February of
15 all of the streaming technology so
this brings me to point two on how they
were so successful what they did they
said wait a minute this streaming is so
much different from the web and
everything else we’re doing let’s just
spin out the streaming into a separate
company because we already have all of
these customers and baseball is one of
those customers away they went so they
spin it out in February of 15 in August
of 16th a year and a half later Disney
comes along puts in 1 billion dollars
for a 33% stake in BAM tech baseball
advanced media technology if you don’t
think that it made those baseball owners
who originally put that money in and the
league baseball happy you’re not paying
attention one year later in August 2017
they put in another one point five eight
billion boom for an evaluation of 3.75
billion for BAM tech and Disney now owns
75% of it basically the controlling
interest
leaving 15% interest for Major League
Baseball and 9% for the NHL because when
the NHL cut its original deal to do all
the websites and everything they’re do
it for the NHL the same way you did it
for baseball that’s what the hockey
league wanted do for us what you did for
baseball websites for the team
statistics all these things and
streaming of the games well guess what
along with that the NHL got a small
minority interest in damn tech it was
like a six hundred million dollar deal
or something like that so anyway so now
BAM Tech does is standalone incredible
company and they sign Eurosport to do
the Olympics in 2018 which is Europe and
they also make a
bam Tech Europe subsidiary that BAM Tech
actually owns 50% of so suddenly it’s a
real global play and I haven’t even
finished telling you what happened to
major league baseball Vance media 2015
they had 800 million dollars in revenue
in 2016 they had 1.2 billion if you want
to know what’s been happening the cable
go look at the ESPN subscriber counts
that are happening and go look at what’s
happening with over-the-top
subscriptions for Netflix and Amazon and
people like that people like that
companies like that that are helping
people like you and me see great content
but going from 800 to 1.2 billion over
just one year period right now there’s
only one word for that and it is damn
that is some crazy growth that’s 50%
growth at an age where over-the-top
content is just crushing it even as
cable and traditional distribution is
having its problems so here we go with
incredible success so now they’ve got
the NHL websites that they’re doing
they’re doing MLB they’re also with the
YES Network the yes network which is the
parent company and network that’s
associated with the Yankees they’re also
the New York Yankees they’re also
working the same kind of a deal with the
company that is with the New York Mets
the national league baseball team that’s
in New York all of this coming together
all of this good news and then at the
end of 17 you know it’s announced that
Bob Bowman will be stepping down
stepping out of the spotlight here and
with recognition that he was due a lot
of accolades came for what he did from
Major League Baseball and building this
amazing media company but then sadly
very sadly right now the beginning of 18
we find out and this is absolutely
horrible that they say that the culture
that with all the commercial success
that was coming here that Bowman would
intimidate people with fear he was a
very very profane individual he was
having relationships with his
subordinates people said no wait those
were consensual relationships you have a
come on you can’t have relations
with subordinates and it impacts morale
it creates you know influence points are
completely inappropriate
he was also apparently out drinking very
very heavily hard partying and it was
basically booze sex and rock and roll
under Bob Bowman inside Major League
Baseball and then in 2017 apparently
there was an incident at the all-star
game or there is a Boston Red Sox
executive and some sort of a verbal
discussion with Bowman Bowman gave him a
big shove you know like f you and that
wasn’t right and then in October
nobody’s talking about the details but
there was some verbal tirade that
crossed the lines where Bob Bowman
absolutely verbally abused and
absolutely devastated an employee at
their New York location apparently and
that led to Rob Manfred the Commissioner
of baseball saying enough thank you so
much for everything that you’ve done for
us commercially but personally and as a
leader as a manager you’ve struck out
back to the dugout you’re fired and so
he was apparently forced out what a sad
ending to a guy whose legacy should be
that over the course of time has done
such amazing things for Major League
Baseball and the National Hockey League
gets the benefit of that so all you
hockey fans that love what you can get
with your NHL packages you will thanks
to Major League Baseball if you think
about it baseball and hockey are similar
you have you have some sticks and some
round things and so there may be where
the similarity ends but you had this
wonderful wonderful company that bridged
all that now I want to talk about this
from an entrepreneurial standpoint this
was smart we’re going to put money into
the middle and we’re going to build
something for all of us here in the
sports league and along the way there’s
some lessons so whether you’re building
a small technology company in Belarus or
you are building a big technology
company in New York these principles are
great learning principles that I think
are the essence of the case study of
major league baseball advanced media
first apply your core competencies once
they discover that they had these core
competencies they were applying them in
such a way to a
extend the products it wasn’t just
streaming on the phone let’s do HD and
get it even even greater levels of
streaming on the iPad let’s make things
for all phones and iPad let’s go to
connected TV they really extended what
they were doing very very quickly they
saw everything as a connected device and
they look to adjacent markets like I was
just discussing about baseball
baseball’s in adjacent market suddenly
an HBO now was doing it in WWE and the
PGA Tour all of these other customers it
says hey do you want to have a full
platform to stream video for a buck on
subscriptions or pay-per-view we can do
it for over-the-top phones tablets
connected TVs Braham PCs laptops bring
them to us we’ll do it so they went into
adjacent markets and then don’t hesitate
to spin out if you take a look what
you’re doing in the service of these
baseball teams with all the web and the
stats and everything that goes along
with Major League Baseball at bat which
includes a little bit of technology in
it from the streaming side and you look
at the streaming side you’d say well
this is really kind of a a web and app
development company and this is really a
high-end media streaming company this
should be spun out and they collected
2.5 billion dollars also almost 2.6 from
Walt Disney Company in the process and
so they made a buck so don’t hesitate to
spin it out everything doesn’t have to
stay under one lid you can look at it
and say you know what this is really a
different company be unafraid to spin it
out you could be you know a small
company or a big company and you’ve got
two things that are competing for
resources you say hey these two things
need to be completely separate with
their own management teams and
everything like that and since I
invented this we gave birth to that you
know what we can probably make a good
dollar on the spin out which is a reward
for having created the company in the
first place and so I think those are
really important lessons when you look
at Major League Baseball Vance media I
love the phrase the biggest media
company you’ve never heard of that’s a
case study for this week thank you for
watching we’ll be back next week with
another case study in the meantime we
are a mission on a mission for a million
subscribers here on value team
and help us reach it because when we do
we are going to have the first annual
value tainment conference for
entrepreneurs and until then I’m Tom
Ellsworth the biz doc hoping I left you better than I found
hello everyone welcome back to key
studies with the biz doc this week it’s
Major League Baseball advanced media I’m
going to do three things one I’m gonna
take you through the history of Major
League Baseball advanced media where
they came from
how did they get here who funded it and
then number two I’m gonna take you
through what happened halfway along the
way with a spin out of something that
they had built and on a whole nother
billion dollar company and then third
where they are and where they’re going
today including a sad ending for one of
the key figures in sports media so let’s
start with point one the history and
where they came from in 2000 the major
league baseball owners were sitting down
and they created Major League Baseball
advanced media they have to remember
this is a very early time for the
internet the Netscape IPO the single
most important browser at the launch of
the internet that IPO was five years
prior to this and Google’s IPO wouldn’t
be for four more years in 2004 so this
is a very nascent time in the age of the
internet just coming to the fore we have
ISDN modems remember those things with
the b1 and b2 light that finally gave
you 56 K of speed or more than that oh
my gosh 56 K what are you gonna do with
all that speed and this is a time where
everything was early nonetheless they
earmarked a hundred and twenty million
dollars back in 2000 that would happen
this way each of those Major League
Baseball teams would put a million
dollars in the middle of the table every
year for four years and we had 30-some
teams so there you have thirty times
four hundred and twenty million dollars
so it was very simple we’re all gonna
fund this together and all of our
websites are going to be controlled by
Major League Baseball advanced media and
there’s a couple reasons for that number
one the websites would be all consistent
number two each team wouldn’t have to
reinvent its website number three the
websites would be very similar in terms
of content so you don’t have to build
all of the different CMS’s content
management systems for each individual
team that saved the teams each inventing
and hiring a web expert and a
development team and
because it’s all going to be done
consistently by one vendor well the one
vendor they selected failed and so that
moved them to a point to build it
themselves internally using this pot of
money so more than that was on the
horizon because they were also thinking
about streaming and they actually did in
2002 streams some of the first out of
network games so think about this is a
fairly early time but this is some
pretty advanced things that are going on
but that was the dream and that was the
focus well along comes 2003 only three
years later and major league baseball
dot TV is basically cashflow positive
phenomenal stuff in a couple years later
oh five they buy tickets calm and roll
that into the package where you have the
team websites now you also have a ticket
arm and a ticket technology that can be
plugged into each of these team websites
so that you now can sell tickets there
you a couple years later they would also
Knight StubHub mean knighting like I
Knight thee StubHub became the
after-sale secondary market partner of
Major League Baseball and in if you know
StubHub you know shortly thereafter they
incorporated the barcodes so you could
print out your StubHub tickets go to the
ballpark and they were actually scanning
right off the paper you had you didn’t
even have to have the physical tickets
anymore so that was the integration with
StubHub all of this stuff going on in
2006 a year before they made that move
the StubHub guess what they paid back
the money to all of the owners and their
cash flow positive and guess what
the owners never had to put in the four
hundred and twenty million dollars can
you say screaming hit this company that
was being driven by Bob Bowman just an
absolute pillar now he’s going to have a
very sad ending when I get to the
history in 2018 but give credit where
credit’s due
he built a phenomenal organization and
we are about to see what happened on the
foundation for baseball that he built
after it you know StubHub
they start incorporating these digital
properties into other formats so in 2008
recall that’s when the iTunes Store was
in full bloom and you also had advanced
iPhones on the market with more memory
and capability
well Major League Baseball at bat is
launched in 2008 so suddenly you could
do so much on the phone with all the
stats and see the games as they were in
progress and as in addition to that
along what they would be adding is
streaming that would come along with
that as well as stats and all sorts of
other things so suddenly now you have a
companion product to the web which is
the at bat product which was a screaming
hit from day one oh nine they bring
Bloomberg into it now what do you bring
a financial player into it for well the
answer is one really a financial player
Bloomberg bought all of their stats and
analytics into it and they use that to
make advanced call it sabermetrics
materials that would be available for
the fantasy players so you’re in a
fantasy leg or a rotisserie League out
there somewhere and you’ve got Major
League Baseball at bat Major League
Baseball online and now you are able
thanks to Bloomberg to get even more
advanced stats on the players and teams
then with streaming working very very
well 2010 guess what ESPN 3 needs a
partner to help them with over-the-top
streaming and who they turn to Major
League Baseball advanced media now
you’re saying why ESPN 3 well I think
that’s a sign that you know ESPN was
testing and we’re gonna see what happens
to that test in a little bit then they
made it work on iPad I don’t know if you
remember the iPad version of Major
League Baseball at bat with the
streaming it was phenomenal suddenly you
basically had an HD game if you paid for
that in addition to an amazing screen
and pitched by pitch and also listening
to the radio broadcast for in town and
out of town and that’s where when I
moved from Los Angeles to Dallas that’s
where I was listening to my beloved Los
Angeles Dodgers on my major league
baseball at bat right there on my iPad
well they hit that out of the park
and in 2011 within four months of
starting the season they had a new
record for subscribers in 2012 within
one week of the start of the season they
had over 12 million subscribers and they
hit that ball out of the park now along
the way they were also starting to help
other media companies with their
streaming needs let’s go take a look at
what happened with that because it is a
lesson of how you can monetize
technology that you already have in
adjacent markets as they were getting
ready to do that let me interject
something 2k had been making a baseball
2k product Major League Baseball 2k and
that was good for a while and then it
was announced 2k said I’m not gonna make
this baseball product anymore starting
in 2015 so they figured we built all
this technology we’ve done all this
stuff with on us web stuff screw it
we’ll make a video game
hang on cowboy video games are a little
bit more difficult than this other stuff
there’s a lot of dynamics that goes into
video games nonetheless they took a
small group of people and tried to make
the first 2k game convert which they
called RBI baseball so they converted
everything they’ve been doing on 2k
which was obviously a separate product
by separate game developer all the
knowledge all the insights and
everything and they tried to bring that
into something called RBI baseball an
RBI Baseball similar to the Cubs fans
it may take a hundred years to get it
right and if you read some of those game
reviews over the years but nonetheless
Major League Baseball was now a game
developer a game publisher and a
producer and a web developer and a
streaming provider all going on right
here with the streaming having signed a
lot of cool partners such as HBO for HBO
now the PGA Tour national hockey league
WWE so what’s going on well everybody is
recognizing that Major League Baseball
wasn’t just building a video service
from Major League Baseball they built a
video service a streaming service for o
that over the
usage on phones iPads and connected
televisions in HD that was phenomenal
so these other folks are saying I don’t
want to go reinvent the wheel I’ll come
work with you and that’s where it
happened so successful it was and in
2015
BAM tech was formed and what is BAM Tech
baseball advanced media technology and
basically they spun out in February of
15 all of the streaming technology so
this brings me to point two on how they
were so successful what they did they
said wait a minute this streaming is so
much different from the web and
everything else we’re doing let’s just
spin out the streaming into a separate
company because we already have all of
these customers and baseball is one of
those customers away they went so they
spin it out in February of 15 in August
of 16th a year and a half later Disney
comes along puts in 1 billion dollars
for a 33% stake in BAM tech baseball
advanced media technology if you don’t
think that it made those baseball owners
who originally put that money in and the
league baseball happy you’re not paying
attention one year later in August 2017
they put in another one point five eight
billion boom for an evaluation of 3.75
billion for BAM tech and Disney now owns
75% of it basically the controlling
interest
leaving 15% interest for Major League
Baseball and 9% for the NHL because when
the NHL cut its original deal to do all
the websites and everything they’re do
it for the NHL the same way you did it
for baseball that’s what the hockey
league wanted do for us what you did for
baseball websites for the team
statistics all these things and
streaming of the games well guess what
along with that the NHL got a small
minority interest in damn tech it was
like a six hundred million dollar deal
or something like that so anyway so now
BAM Tech does is standalone incredible
company and they sign Eurosport to do
the Olympics in 2018 which is Europe and
they also make a
bam Tech Europe subsidiary that BAM Tech
actually owns 50% of so suddenly it’s a
real global play and I haven’t even
finished telling you what happened to
major league baseball Vance media 2015
they had 800 million dollars in revenue
in 2016 they had 1.2 billion if you want
to know what’s been happening the cable
go look at the ESPN subscriber counts
that are happening and go look at what’s
happening with over-the-top
subscriptions for Netflix and Amazon and
people like that people like that
companies like that that are helping
people like you and me see great content
but going from 800 to 1.2 billion over
just one year period right now there’s
only one word for that and it is damn
that is some crazy growth that’s 50%
growth at an age where over-the-top
content is just crushing it even as
cable and traditional distribution is
having its problems so here we go with
incredible success so now they’ve got
the NHL websites that they’re doing
they’re doing MLB they’re also with the
YES Network the yes network which is the
parent company and network that’s
associated with the Yankees they’re also
the New York Yankees they’re also
working the same kind of a deal with the
company that is with the New York Mets
the national league baseball team that’s
in New York all of this coming together
all of this good news and then at the
end of 17 you know it’s announced that
Bob Bowman will be stepping down
stepping out of the spotlight here and
with recognition that he was due a lot
of accolades came for what he did from
Major League Baseball and building this
amazing media company but then sadly
very sadly right now the beginning of 18
we find out and this is absolutely
horrible that they say that the culture
that with all the commercial success
that was coming here that Bowman would
intimidate people with fear he was a
very very profane individual he was
having relationships with his
subordinates people said no wait those
were consensual relationships you have a
come on you can’t have relations
with subordinates and it impacts morale
it creates you know influence points are
completely inappropriate
he was also apparently out drinking very
very heavily hard partying and it was
basically booze sex and rock and roll
under Bob Bowman inside Major League
Baseball and then in 2017 apparently
there was an incident at the all-star
game or there is a Boston Red Sox
executive and some sort of a verbal
discussion with Bowman Bowman gave him a
big shove you know like f you and that
wasn’t right and then in October
nobody’s talking about the details but
there was some verbal tirade that
crossed the lines where Bob Bowman
absolutely verbally abused and
absolutely devastated an employee at
their New York location apparently and
that led to Rob Manfred the Commissioner
of baseball saying enough thank you so
much for everything that you’ve done for
us commercially but personally and as a
leader as a manager you’ve struck out
back to the dugout you’re fired and so
he was apparently forced out what a sad
ending to a guy whose legacy should be
that over the course of time has done
such amazing things for Major League
Baseball and the National Hockey League
gets the benefit of that so all you
hockey fans that love what you can get
with your NHL packages you will thanks
to Major League Baseball if you think
about it baseball and hockey are similar
you have you have some sticks and some
round things and so there may be where
the similarity ends but you had this
wonderful wonderful company that bridged
all that now I want to talk about this
from an entrepreneurial standpoint this
was smart we’re going to put money into
the middle and we’re going to build
something for all of us here in the
sports league and along the way there’s
some lessons so whether you’re building
a small technology company in Belarus or
you are building a big technology
company in New York these principles are
great learning principles that I think
are the essence of the case study of
major league baseball advanced media
first apply your core competencies once
they discover that they had these core
competencies they were applying them in
such a way to a
extend the products it wasn’t just
streaming on the phone let’s do HD and
get it even even greater levels of
streaming on the iPad let’s make things
for all phones and iPad let’s go to
connected TV they really extended what
they were doing very very quickly they
saw everything as a connected device and
they look to adjacent markets like I was
just discussing about baseball
baseball’s in adjacent market suddenly
an HBO now was doing it in WWE and the
PGA Tour all of these other customers it
says hey do you want to have a full
platform to stream video for a buck on
subscriptions or pay-per-view we can do
it for over-the-top phones tablets
connected TVs Braham PCs laptops bring
them to us we’ll do it so they went into
adjacent markets and then don’t hesitate
to spin out if you take a look what
you’re doing in the service of these
baseball teams with all the web and the
stats and everything that goes along
with Major League Baseball at bat which
includes a little bit of technology in
it from the streaming side and you look
at the streaming side you’d say well
this is really kind of a a web and app
development company and this is really a
high-end media streaming company this
should be spun out and they collected
2.5 billion dollars also almost 2.6 from
Walt Disney Company in the process and
so they made a buck so don’t hesitate to
spin it out everything doesn’t have to
stay under one lid you can look at it
and say you know what this is really a
different company be unafraid to spin it
out you could be you know a small
company or a big company and you’ve got
two things that are competing for
resources you say hey these two things
need to be completely separate with
their own management teams and
everything like that and since I
invented this we gave birth to that you
know what we can probably make a good
dollar on the spin out which is a reward
for having created the company in the
first place and so I think those are
really important lessons when you look
at Major League Baseball Vance media I
love the phrase the biggest media
company you’ve never heard of that’s a
case study for this week thank you for
watching we’ll be back next week with
another case study in the meantime we
are a mission on a mission for a million
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entrepreneurs and until then I’m Tom
Ellsworth the biz doc hoping I left you better than I found
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