so today I wanna introduce you to a good
friend of mine somebody that I consider
probably one of the smartest men I’ve
ever met in my life maybe the smartest
person I’ve ever met in my life you’ll
find out here in a few minutes white
Bettis and that is my my my good friend
John Mel’s board which we have a lot of
history together you’ll find that in a
few minutes why that is so Tom before we
get into this the reason why I’m
interviewing Tom so you find out who Tom
is Tom will start doing a show on
Fridays which he’ll do case studies and
case studies which we’ll get into it
he’s going to take different companies
and you’ll do case studies in because a
lot of times as an entrepreneur you know
on Tuesdays and Thursdays I do the
how-tos when I do value time I’m not
giving in my episodes monday we have
Monday motivation I think it’s very very
important for you some of you guys saw
that one episode we did with Twitter is
Twitter the next myspace and some
people’s can we get more things like
this Tom’s going to be doing a lot of
those case studies where you’ll see in
version what some of these mistakes
these companies make that you don’t need
to make and what things they did right
that can help you take your business to
the next level so before we get into the
case studies I want to have you find out
a little bit more about Tom so Tom
before PHP you are now president with us
and we’re involved with a couple
different exciting projects together
your biggest hit after Sprint you would
say you got involved then you joined the
founders at Jam dad where I Jam dad you
guys ended up selling Jam that a few
years later in off or to EA sports for
680 million dollars so why don’t you
take a few minutes and tell us a little
about your background take a minute and
tell us live out your background how
this whole thing led into Jam debt and
then all these other companies you’ve
started CEO of go TV tell us a little
bit about your story well that’s it it’s
a real simple story I got a marketing
degree in college from there I went to
work at la cellular like the first
cellular phone company in Los Angeles
third in the United States and I got
hooked on early-stage companies that
were doing something big from there I
was at a company called California
amplifier that provided components to
DirecTV another thing going big from
there is as before there was DIRECTV
yeah I was at California amplifier
working on satellite dishes before there
was DirecTV in the
small dish was a revolution lucky to be
part of that from there I got a call
back from one of the guys had worked
with early went to a sprint and sprint
long distance company how to start up
the vision that would today be what we
know as Sprint wireless I would you
start the unlimited plan with Sprint or
something like that like you are he this
is the founder of the unlimited plan
with if you remember those days that we
used to talk free after 9:00 p.m. and
you had to wait to you was it after 9:00
p.m. or whatever is right peak off peak
we got oh my god so you made it
unlimited we introduced a a new rate
plan with the launch of Sprint that was
part of that was just fabulous
people love Dix that simplified I just
want to thank you on behalf of 319
million people live in America that was
a great program well it was it also took
a lot of profit out of the wireless
industry and I was a marked man oh it’s
like but the consumer got a good deal
and in the end so did the wireless and
we’re happy there you go thank you Tom
and from from there sprint was investing
in small companies through an incubator
project because they knew what was
coming they knew that phones would be
doing this in that sure and I managed
that incubator forum and we made an
investment a little company called
jammed at mobile that was the first
games for wireless phones so Tom let me
get this straight jammed it I mean I
know about Jam because we just talked
about there was no games on phones
before you before you guys invented the
first game cell phones the founders of
Jam dad had a vision to put them on
phones and in a vision that phones would
be so much more than what they were and
they were right unbelieva today it’s
obviously so what happened with Jam dad
what happened with Jam dad one of the
first games jammed at bowling or for two
years two million people played it and
you would go places and people playing
Jam natural where there’s any games on
phones two million people download yeah
that’s exactly right
download the game and we didn’t really
really well and one of the companies did
it originally said games will be played
on phones you need a Playstation or a
gameboy or an Xbox in your living room
that’s how you play games was Electronic
Arts and Electronic Arts sometime later
would II praise for its rights warrant
it’s an you know be a sports it’s a game
yeah you gotta give that prize yeah well
let me
one day there was a knock at the door
and it was EA Sports we have a check
right and it was a little under seven
hundred million dollars were you guys
expecting that amount no I mean I know
sometimes we like to you know yeah of
course
did you actually think gonna get a seven
hundred million dollar check no I think
we just wanted to build a great company
we’re focused on doing that that’s so
important maybe we can touch up on that
because so many times people tell me
they want to build a they go more for
the dollar amount instead of building a
great company instead of focusing on
what you got to do and eventually get
the check so you guys get the seven
hundred million dollar check what
happens next what happens next is I
worked with a couple publishing
initiatives premier digital publishing
we did we had great success with that
helping authors get two Kindles and
nooks and things like that and then
ultimately I meet you as I’m still
looking at great ideas that can go big
and the idea that you had forward PHP
really struck me because it was all the
things that I loved taking great ideas
disrupting old industries and going date
that’s exciting and Tom’s made it I work
with Tom on a daily basis so you brought
you in as a board advisory board and
want to say in 2009 or 2010 we brought
you on as 2010 advisory board and then
August of 15 you became the president
and an obviously we’re doing other
things as well which is exciting but Tom
so so so that’s great now all your
companies that you’ve sold in your
career what’s the total amount sale if
there’s a number you can tie to what is
the total amount of sales other
companies well the companies have been
involved with so grand total about 1.1
billion dollars this is what it be but
to be 1.1 billion dollars unbelievable
okay and so your background you go from
that bet you know you went to college
you go into all these industries you’ve
worked in some companies from different
complete different industries that you
you know maybe whether it’s
long-distance to technology to gaming to
publish into all this stuff what is it
that you are so turned on and attracted
to startups why startups why not that
you come out of college what do they
tell you go for it work for the big four
go work for the biggest companies in the
world what what made you
want to go work with startups because it
can be scary sometimes what turns you
want to startups well it was really a
perspective I got early in my career I
had an internship with IBM in sales when
I was in college and they taught you a
lot of skills what was really
interesting about that first company la
cellular I was working at was you
understood the consequence of decisions
and you understood that hey we’re making
decision City that matter they’re moving
the company forward and I said that’s
where I want to be I want to be making
decisions that matter and move the
company forward and doing new things in
old industries that were big and
national that just meant that was a
bigger target and you’re gonna it was a
bigger market and those things resonated
and that’s right
that touch me earlier in my career and I
haven’t let go of it Wow so you know one
thing most people don’t know about my
daughter’s name is Senna right her name
is Senna and I have sent us a painting
over there back there I’m a die-hard
Santo fan most people don’t know but Tom
introduced me to Ayrton Senna we have a
big following from Brazil that followed
the content here and they know I’m a big
Senna fan you’re a big Formula One guy
big Formula One guy how did you get into
Formula One how did you get into like in
Formula One and you know now your
passion for were you and your wife get
up early like two three o’clock in the
morning to watch it and you guys are
like Europe you’re not just a regular
guy you fully follow
everything’s I get the polls you know
Nico got number two poll and then you
know Lewis Hamilton broke the record
because he did this why Formula One like
I said why such a big passion for that
sport well I think it goes with having a
passion for technology startups or a
passion for technology yeah
because in from Illinois you have all
the other all these teams the rules
change a little bit every year and
people are designing these cars they
don’t buy those race cars the team
designs the car and they apply new
technologies or technologies to start a
Formula one that are in your car today
and it just was inspiring to see all the
technological stuff that goes into that
and then at the end of the day you got
to put a driver in it you got to put a
human in it they’re not robots and it
was a joke and Formula one that says I
can tune the engine I can adjust the
wings but there’s nothing I can do
to tighten the nut behind the wheel and
that is just the truth and it’s seeing
people like Senna who are geniuses and
seeing people that were great car
designers and so I like it for both
sides the passion the accomplishment of
the great drivers as well as the great
teams that change the game so Tom so ok
that’s great I know that now here’s a
question for you who are the top five I
got put you on the spot like oh wait a
minute
top five greatest Formula One drivers of
all time I know you’ve interviewed we’ve
met a lot of them we went to you and I
went to Italy together we went to the
Ferrari headquarters all that stuff
you’re big Enzo guy but tell me the top
five greatest of all time so the top
five and I have a hard time putting
these in order but little right time I
think at number five you’ve got Jackie
Stewart what he did in the 70s was just
incredible and then number four that
I’ve got at number four I think without
a doubt is Alam Prost he was a professor
he put him at number four I do put him
in number four and then number three and
I’ve got one man well found Gill and
I’ve got Schumacher at number two
Schumacher statistics you know 91
victories come on I mean it’s just
incredible then what number one of all
time is Ayrton Senna and if he hadn’t
been tragically cut short in 1994 he
would have said even more records but he
didn’t need to set those records for us
to see that he was the greatest driver
in the history of Formula One we’ve
never seen anything like it I don’t
think we’ll see anything like it again
they didn’t you actually reported live
when the race was taking place you had a
radio or something you were doing back
then 1994 tell us about that well 1994 I
remember 1996 Netscape comes out and
that’s where the internet was born
that’s where Marc Andreessen made all of
his money if you know anything about
Marc Andreessen and the great venture
capital and recent Horowitz he runs now
but we’re two years before that there
was a little thing out there called
CompuServe where you could trade
information with people around the world
well I was trading information with
people in Europe as it happened and then
I had an 800 number I would record these
30 second
clips and you could call the 800 number
and get f1 information right and it was
in the day I remember the day so it’s
unfortunately he had all those you know
one nine hundred they were you weren’t
the one nine hundred business no I was
not in the one-night never knew you
wouldn’t know what I know no but we all
know what that everybody spread the
rumor Tom wasn’t the one nine hundred
business know we may have money yeah I
can see you remember it so that’s but
yeah well back in those days you doubt
one sided voice board for horoscopes or
remember Miss Cleo she eventually went
to prison or something but you could add
bad stuff Miss Cleo well I have a
million would miss fluid I had um I have
formula one she called it thirty seconds
and I updated like ten times during the
race there were people calling up and
ninety nine cents ten dollars to get an
update of rate of the race it was
amazing and I remember the day he died
Emily Italy I I called it unfortunately
now what’s the date was it April 29th or
May 1st
may 1st May 1st of 94 May 1st of May
mellow Italy its San Marino and
Tamburello corner you can go there today
if anybody goes to Italy go to San
Marino go to ml racetrack walk the path
by the creek in the back and there are
monuments hidden in the woods built
nice monuments marble that were built by
people who were devoted fans and a prose
that appreciated the genius of Ayrton
Senna why do you think people loved him
as much as they did because there’s a
cult-like following to Senna he cared
and he was great and you find a lot of
athletes now walk away from the arena
with this snobbish attitude don’t sign
autographs for kids you’re just making
money and you don’t get the feeling that
they cared you get the feeling that
Ayrton Senna cared and played hurt you
know and you know there’s a lot of
admiration for football players that
have played hurt and I know there’s a
lot of negativity around concussions but
we admire our heroes who play with so
much passion that you know they know
that they’re there and they make a lot
of money because of those of us have
come to watch and there are very few
people in history that have played with
the passion at
high level and I think Ayrton Senna
Michael Jordan Wayne Gretzky it’s a
short list of people who are up there
where you say man they love what they’re
doing they’re great at it and their
passion and they’re laying it out would
you would you put Hamilton at six or no
Hamilton’s top ten to early to tell
Hamilton is number six and about to
break into the club really Lewis
Hamilton is gonna replace that Jack
you’re gonna replace no no he’s gonna
praise I’ll impressed well you put out
on pro set for Jack it was fine right
Lewis Hamilton’s can Google pass both of
those guys oh yeah yeah he’s a rock star
okay Tom interesting thing you told me
about tide press victories
he’s tight pros with what is it 71 51 51
career victories he’s tied with Senna’s
what 41 yep and 81 polls or seven eight
how many polls was how many positive
take ridicu took 50% of them or
something like that right so you know
one thing you told me that was that I
thought was very very interesting is one
of my favorite interviews I watch online
is the last one of Jobs and Bill Gates
where they were in the same room
together in those red shares if you’ve
seen the one with the red chairs that
they’re sitting in you were actually one
of the 300 people invited to that and
people came to see that from all over
the world how was it being in that room
with Bill Gates and Steve Jobs what did
that mean to you tell me a little bit
about that experience I was pretty
amazing I was at the D conference which
was run by the Wall Street Journal and
if you got an invitation you could be
there it was very very hard to get on
the waiting list and I was just humbled
and deeply appreciated the fact that I
was there and when Jobs he came out to
speak what you didn’t know is that
backstage had been a little bit of drama
and if you look it up in the internet
you can find it was um you know Gates
was very upset with jobs over something
has happened many times their careers
and he had said I’m not going to do the
interview you know and let’s hell
freezes over or something Hussein does
gates that he’s not gates meet summit I
may be getting it not perfectly right on
the quote and when they were backstage
Jobs comes over and gives them like this
this bottle of ice-cold water and you
made some comments about the comment and
he gave it to them and it kind of broke
the ice
between them they talked and then it
came out and did the interview and one
of the things that really was amazing
was the appreciation but determined
competition that was still there they
appreciated each other but there was
determined competition and he also made
jokes about the fact that they were now
the two oldest guys in the room not the
two youngest guys that want to change
the world
they were the oldest guys in a room now
around a bunch of younger guys that want
to change the world and so I thought the
perspectives in that interview was just
absolutely phenomenal
what made both of them special in your
opinion what made job special what made
gates special well they both knew what
they wanted to do and jobs knew that
when you put the hardware and software
together like Apple does you control the
whole experience and that’s why the
Apple experience has always been so
perfect the Mac software and you know
they but they have the software and the
hardware together whereas Microsoft
Windows says we’re going to make an open
environment and so you take Microsoft
Windows and here’s a Developer Kit go
build whatever build the game build
word-processing build whatever you want
and gates knew that that was the path to
owning the market and later he would
find himself in front of Congress at
monopoly hearings right and we’re not
talking about the board game we’re
talking about how my show made some bad
decisions that they got called out for
and so I think that was the genius of
Gates as he saw I’m going to build this
platform and I’m going to own the whole
game whereas Jobs was like wait a minute
I’m going to do something special right
the experience and everything’s going to
be special so you had jobs the designer
with the passion to control the whole
experience and just deliver it end to
end and gates who is the enabler so you
saw a lot of control and jobs the genius
and you saw a lot of enablement and
creating a massive market in gates and
that was evident on that stage there and
I think that’s what you saw out of both
of them and I would say there is not an
ounce of difference between them on how
hard they worked or how competitive they
were I think they were dead even but
just how they want to approach the
problem and guess what we have all this
wonderful things on both sides of it
that we appreciate and we love who is
the net like modern-day right now if you
had
to say some of the guys that reminds you
either one of them who would you say
this job who would you say is gates
today wow it’s hard to say whose jobs
and who is gates but I don’t know if
mosque is like them like how categorizes
who’s Bezos like what who is why you
know it’s interesting um you know if you
look at musk and what he’s done from end
to end on Tesla and then you look at
Bezos and besos you know you go online
to Amazon and you don’t know whether
you’re buying from an Amazon warehouse
or you’re buying from some other
warehouse run by an independent person
because Bezos said wait a minute
everybody’s going to come to Amazon I’m
gonna sell everything and I’m going to
build the systems to do it so I think in
terms of like an open environment in the
systems to allow as many people room as
possible
that’s Bezos but if you look at the
beauty and the genius of Tesla from end
to end
that’s musk and I would think if I’m
going to have a fantasy CEO League and
I’m going to start with two the only two
that I picked is Bezos and musk who’s
three there’s some people that impress
me right what’s up with zotkin
presidency you said you do they impress
you
Travis impresses me ed Ober really yeah
you look at what he’s doing he look he’s
delivering food now you look at where
he’s going with that impresses the hell
out of me and you look he’s focused he’s
determined so okay so here’s another
question for you five companies that you
see the next decade dominating five
companies if you have to pick five
companies they see dominating next
decade who would it be Wow five
companies dominating you think Google’s
gonna continue dominate and get creative
and innovative like you think Facebook’s
going to keep doing the stuff they’re
doing what do you think is gonna happen
next ten years with these five
comfortable.i I think if you look at the
way Google is operating the way they you
know said okay we’re going to build
ourselves an alphabet and how they’re
aligning everything out I think how do
you bet against a data player in the age
of data I don’t care how old so who is
on the list Google’s on that list well
number one for me and I believe that we
haven’t seen the
of Microsoft but they’re probably not on
my list
I think ubers going to redefine traffic
in major cities you don’t think Eber is
going to be like a Groupon you think
uber staying around for 10 years
hell no seriously you don’t cuz you know
Groupon came everybody wanted to be the
next group angry gonna be social and now
it’s like yeah you can see those are
fast but you see you can see the way you
know uber is impacting you right yeah
why do you think Hoover’s going to be a
tenure play more than that you don’t
think mosque or Google is gonna give a
run for their money with that you don’t
think that’s going to be though
self-driving cars and and all that stuff
what you think uber is going to go into
that market as well hi boobers all ready
announcer ordering Celgene self-driving
cars doing these so I’ve got interested
okay Google we have Google we have uber
who else yep uber and musk and Tesla
right you look at the things you say
Tesla or do you say musk because well I
think I say must because do you see what
he just announced yesterday on solar he
announced solar roofs that’s right he
just went out there and so you can see
he’s applying his technology and he’s
not standing still that Tesla was in
musk it’s musk okay so you’re not
betting on Tesla you’re betting on
whatever he’s a part of combated on
where he’s taking that solar technology
and things like that’s amazing the guys
so big he’s bigger than the brand
himself first you said Google till you
said uber and 3’s months who’s your four
or five Amazon you just can’t mess with
Amazon’s for absolutely you see where
they’re applying their technology I mean
they were books another video another oh
my gosh it’s just he’s gone so far at
the technology’s done and he’s just so
smart and then number five is really a
space versus a company okay because tell
us online education and there’s two
reasons for it number one education is
broken
student loans debt is bigger than credit
card debt which is a selection but just
shocked me
right when that happened that was
announced what year and a half ago rely
everybody turned and looked at the TV
and go wait what can it be right and
that’s reason number one a reason number
two in a fast moving changing economy
hey gang get used to it right you need
to retrain and so the old education of
educate once in college and be good for
25 years gone you’re going to have to
retrain you need
find methods and locations to get
educated along the way and I believe
online education provides hope and
promise for people to get retrained for
the five or seven mini careers are going
to have because nobody’s working twenty
five years at IBM getting a gold watch
so it doesn’t sound like a four-year
degree today has the same value as
twenty years ago
no because you’re not going to work
twenty-five years at a single company
anymore you’re going to have many
careers you may have foundations like I
was in marketing but you’re going to add
to that so let me let me restate what
you’re saying to tell me who this is see
if I’m what you were saying the same
thing you’re saying an online
educational platform where I can go and
study this specific skill that I want to
learn how to improve whatever that is
that’s what you’re talking about
to adapt yourself for the chapters of
your career that you’re going to face
fair enough
got it so number one was Google uber
must Amazon and online education is what
you’re talking about
yep and I think we’re just waiting to
see the giant emergent online education
I’m excited about that um I’m really
excited for everybody here to start
learning from you because I can tell you
I’ve travel time you and I have traveled
how many places together we’ve been all
over the world together literally all
over the world together and every time
we’re together it’s at a point right now
that ret monument I just found that this
week we can’t be on the same flight in
which is a bummer
you’re not can’t fly on the same flights
and we’re just kind of annoying but we
have very good conversations together
because Thomas always bringing up cases
from different companies so I asked Tom
I said on Fridays I want you to start
teaching cases when I was at Harvard
Business School at the open program we
were constantly studying a different
case every single week whatever it was
so now you’re going to take cases so
tell us what to expect when you start
doing your case studies on Fridays
what’s that going to be like well what
I’m going to do is I’m going to take
just little stories from companies that
you know and love or you may not love
them but companies you know about and
we’re going to take a little part of
that tell you what they did what
happened and why they did it and then
you can take it to apply it whether
you’re operating a t-shirt selling you
know website or you’re part of a larger
company and the success is going to be
people take part of it and said you know
what
apply that and I can take it with me
that’s exciting I mean so can you tell
us some of the companies are going to
start right off right off the bat well
we’re going to do a whole series but the
first three that I’ve got is Starbucks
dryers ice cream dries ice cream yep and
then one that’s close to my heart cuz I
come from mobile Nokia so we’re gonna
start off with Starbucks
dryers ice cream with Nokia on Fridays
listen I can tell you this for a fact I
can take this for a fact you know value
Taemin has been predominantly myself
from day one till today it is not going
to be because I want you as the
entrepreneur I believe in time you’re
not talked about this before I believe
100% of world’s problems are going to be
solved by entrepreneurs 100% of the
world’s problems are going to be solved
by entrepreneurs and there’s a lot to be
learned from other companies so on
Fridays
tune in on value tainment to biz doc Tom
Ellsworth to learn about whatever case
is going to be doing the first one’s
going to be going out next Friday so if
you haven’t seen it go to next Friday
stay tuned next Friday the first one’s
going to be launched which is exciting
the first case is which one time tell us
the first case Starbucks Starbucks is a
first case so tune into Tom elsword biz
doc next week Paul let me get my pillow
here to get everyone to subscribe if you
haven’t subscribed epillow if you
haven’t subscribed to this channel
please do so my challenge to you is go
watch all the other videos on value Tim
and I will tell you we believe this is
the number one channel on YouTube for
entrepreneurs and we’re just getting
started with the content will be
bringing you around the subject of
entrepreneurship with that being said if
you got any questions any thoughts for
Tom please comment on the bottom take everybody bye-bye
friend of mine somebody that I consider
probably one of the smartest men I’ve
ever met in my life maybe the smartest
person I’ve ever met in my life you’ll
find out here in a few minutes white
Bettis and that is my my my good friend
John Mel’s board which we have a lot of
history together you’ll find that in a
few minutes why that is so Tom before we
get into this the reason why I’m
interviewing Tom so you find out who Tom
is Tom will start doing a show on
Fridays which he’ll do case studies and
case studies which we’ll get into it
he’s going to take different companies
and you’ll do case studies in because a
lot of times as an entrepreneur you know
on Tuesdays and Thursdays I do the
how-tos when I do value time I’m not
giving in my episodes monday we have
Monday motivation I think it’s very very
important for you some of you guys saw
that one episode we did with Twitter is
Twitter the next myspace and some
people’s can we get more things like
this Tom’s going to be doing a lot of
those case studies where you’ll see in
version what some of these mistakes
these companies make that you don’t need
to make and what things they did right
that can help you take your business to
the next level so before we get into the
case studies I want to have you find out
a little bit more about Tom so Tom
before PHP you are now president with us
and we’re involved with a couple
different exciting projects together
your biggest hit after Sprint you would
say you got involved then you joined the
founders at Jam dad where I Jam dad you
guys ended up selling Jam that a few
years later in off or to EA sports for
680 million dollars so why don’t you
take a few minutes and tell us a little
about your background take a minute and
tell us live out your background how
this whole thing led into Jam debt and
then all these other companies you’ve
started CEO of go TV tell us a little
bit about your story well that’s it it’s
a real simple story I got a marketing
degree in college from there I went to
work at la cellular like the first
cellular phone company in Los Angeles
third in the United States and I got
hooked on early-stage companies that
were doing something big from there I
was at a company called California
amplifier that provided components to
DirecTV another thing going big from
there is as before there was DIRECTV
yeah I was at California amplifier
working on satellite dishes before there
was DirecTV in the
small dish was a revolution lucky to be
part of that from there I got a call
back from one of the guys had worked
with early went to a sprint and sprint
long distance company how to start up
the vision that would today be what we
know as Sprint wireless I would you
start the unlimited plan with Sprint or
something like that like you are he this
is the founder of the unlimited plan
with if you remember those days that we
used to talk free after 9:00 p.m. and
you had to wait to you was it after 9:00
p.m. or whatever is right peak off peak
we got oh my god so you made it
unlimited we introduced a a new rate
plan with the launch of Sprint that was
part of that was just fabulous
people love Dix that simplified I just
want to thank you on behalf of 319
million people live in America that was
a great program well it was it also took
a lot of profit out of the wireless
industry and I was a marked man oh it’s
like but the consumer got a good deal
and in the end so did the wireless and
we’re happy there you go thank you Tom
and from from there sprint was investing
in small companies through an incubator
project because they knew what was
coming they knew that phones would be
doing this in that sure and I managed
that incubator forum and we made an
investment a little company called
jammed at mobile that was the first
games for wireless phones so Tom let me
get this straight jammed it I mean I
know about Jam because we just talked
about there was no games on phones
before you before you guys invented the
first game cell phones the founders of
Jam dad had a vision to put them on
phones and in a vision that phones would
be so much more than what they were and
they were right unbelieva today it’s
obviously so what happened with Jam dad
what happened with Jam dad one of the
first games jammed at bowling or for two
years two million people played it and
you would go places and people playing
Jam natural where there’s any games on
phones two million people download yeah
that’s exactly right
download the game and we didn’t really
really well and one of the companies did
it originally said games will be played
on phones you need a Playstation or a
gameboy or an Xbox in your living room
that’s how you play games was Electronic
Arts and Electronic Arts sometime later
would II praise for its rights warrant
it’s an you know be a sports it’s a game
yeah you gotta give that prize yeah well
let me
one day there was a knock at the door
and it was EA Sports we have a check
right and it was a little under seven
hundred million dollars were you guys
expecting that amount no I mean I know
sometimes we like to you know yeah of
course
did you actually think gonna get a seven
hundred million dollar check no I think
we just wanted to build a great company
we’re focused on doing that that’s so
important maybe we can touch up on that
because so many times people tell me
they want to build a they go more for
the dollar amount instead of building a
great company instead of focusing on
what you got to do and eventually get
the check so you guys get the seven
hundred million dollar check what
happens next what happens next is I
worked with a couple publishing
initiatives premier digital publishing
we did we had great success with that
helping authors get two Kindles and
nooks and things like that and then
ultimately I meet you as I’m still
looking at great ideas that can go big
and the idea that you had forward PHP
really struck me because it was all the
things that I loved taking great ideas
disrupting old industries and going date
that’s exciting and Tom’s made it I work
with Tom on a daily basis so you brought
you in as a board advisory board and
want to say in 2009 or 2010 we brought
you on as 2010 advisory board and then
August of 15 you became the president
and an obviously we’re doing other
things as well which is exciting but Tom
so so so that’s great now all your
companies that you’ve sold in your
career what’s the total amount sale if
there’s a number you can tie to what is
the total amount of sales other
companies well the companies have been
involved with so grand total about 1.1
billion dollars this is what it be but
to be 1.1 billion dollars unbelievable
okay and so your background you go from
that bet you know you went to college
you go into all these industries you’ve
worked in some companies from different
complete different industries that you
you know maybe whether it’s
long-distance to technology to gaming to
publish into all this stuff what is it
that you are so turned on and attracted
to startups why startups why not that
you come out of college what do they
tell you go for it work for the big four
go work for the biggest companies in the
world what what made you
want to go work with startups because it
can be scary sometimes what turns you
want to startups well it was really a
perspective I got early in my career I
had an internship with IBM in sales when
I was in college and they taught you a
lot of skills what was really
interesting about that first company la
cellular I was working at was you
understood the consequence of decisions
and you understood that hey we’re making
decision City that matter they’re moving
the company forward and I said that’s
where I want to be I want to be making
decisions that matter and move the
company forward and doing new things in
old industries that were big and
national that just meant that was a
bigger target and you’re gonna it was a
bigger market and those things resonated
and that’s right
that touch me earlier in my career and I
haven’t let go of it Wow so you know one
thing most people don’t know about my
daughter’s name is Senna right her name
is Senna and I have sent us a painting
over there back there I’m a die-hard
Santo fan most people don’t know but Tom
introduced me to Ayrton Senna we have a
big following from Brazil that followed
the content here and they know I’m a big
Senna fan you’re a big Formula One guy
big Formula One guy how did you get into
Formula One how did you get into like in
Formula One and you know now your
passion for were you and your wife get
up early like two three o’clock in the
morning to watch it and you guys are
like Europe you’re not just a regular
guy you fully follow
everything’s I get the polls you know
Nico got number two poll and then you
know Lewis Hamilton broke the record
because he did this why Formula One like
I said why such a big passion for that
sport well I think it goes with having a
passion for technology startups or a
passion for technology yeah
because in from Illinois you have all
the other all these teams the rules
change a little bit every year and
people are designing these cars they
don’t buy those race cars the team
designs the car and they apply new
technologies or technologies to start a
Formula one that are in your car today
and it just was inspiring to see all the
technological stuff that goes into that
and then at the end of the day you got
to put a driver in it you got to put a
human in it they’re not robots and it
was a joke and Formula one that says I
can tune the engine I can adjust the
wings but there’s nothing I can do
to tighten the nut behind the wheel and
that is just the truth and it’s seeing
people like Senna who are geniuses and
seeing people that were great car
designers and so I like it for both
sides the passion the accomplishment of
the great drivers as well as the great
teams that change the game so Tom so ok
that’s great I know that now here’s a
question for you who are the top five I
got put you on the spot like oh wait a
minute
top five greatest Formula One drivers of
all time I know you’ve interviewed we’ve
met a lot of them we went to you and I
went to Italy together we went to the
Ferrari headquarters all that stuff
you’re big Enzo guy but tell me the top
five greatest of all time so the top
five and I have a hard time putting
these in order but little right time I
think at number five you’ve got Jackie
Stewart what he did in the 70s was just
incredible and then number four that
I’ve got at number four I think without
a doubt is Alam Prost he was a professor
he put him at number four I do put him
in number four and then number three and
I’ve got one man well found Gill and
I’ve got Schumacher at number two
Schumacher statistics you know 91
victories come on I mean it’s just
incredible then what number one of all
time is Ayrton Senna and if he hadn’t
been tragically cut short in 1994 he
would have said even more records but he
didn’t need to set those records for us
to see that he was the greatest driver
in the history of Formula One we’ve
never seen anything like it I don’t
think we’ll see anything like it again
they didn’t you actually reported live
when the race was taking place you had a
radio or something you were doing back
then 1994 tell us about that well 1994 I
remember 1996 Netscape comes out and
that’s where the internet was born
that’s where Marc Andreessen made all of
his money if you know anything about
Marc Andreessen and the great venture
capital and recent Horowitz he runs now
but we’re two years before that there
was a little thing out there called
CompuServe where you could trade
information with people around the world
well I was trading information with
people in Europe as it happened and then
I had an 800 number I would record these
30 second
clips and you could call the 800 number
and get f1 information right and it was
in the day I remember the day so it’s
unfortunately he had all those you know
one nine hundred they were you weren’t
the one nine hundred business no I was
not in the one-night never knew you
wouldn’t know what I know no but we all
know what that everybody spread the
rumor Tom wasn’t the one nine hundred
business know we may have money yeah I
can see you remember it so that’s but
yeah well back in those days you doubt
one sided voice board for horoscopes or
remember Miss Cleo she eventually went
to prison or something but you could add
bad stuff Miss Cleo well I have a
million would miss fluid I had um I have
formula one she called it thirty seconds
and I updated like ten times during the
race there were people calling up and
ninety nine cents ten dollars to get an
update of rate of the race it was
amazing and I remember the day he died
Emily Italy I I called it unfortunately
now what’s the date was it April 29th or
May 1st
may 1st May 1st of 94 May 1st of May
mellow Italy its San Marino and
Tamburello corner you can go there today
if anybody goes to Italy go to San
Marino go to ml racetrack walk the path
by the creek in the back and there are
monuments hidden in the woods built
nice monuments marble that were built by
people who were devoted fans and a prose
that appreciated the genius of Ayrton
Senna why do you think people loved him
as much as they did because there’s a
cult-like following to Senna he cared
and he was great and you find a lot of
athletes now walk away from the arena
with this snobbish attitude don’t sign
autographs for kids you’re just making
money and you don’t get the feeling that
they cared you get the feeling that
Ayrton Senna cared and played hurt you
know and you know there’s a lot of
admiration for football players that
have played hurt and I know there’s a
lot of negativity around concussions but
we admire our heroes who play with so
much passion that you know they know
that they’re there and they make a lot
of money because of those of us have
come to watch and there are very few
people in history that have played with
the passion at
high level and I think Ayrton Senna
Michael Jordan Wayne Gretzky it’s a
short list of people who are up there
where you say man they love what they’re
doing they’re great at it and their
passion and they’re laying it out would
you would you put Hamilton at six or no
Hamilton’s top ten to early to tell
Hamilton is number six and about to
break into the club really Lewis
Hamilton is gonna replace that Jack
you’re gonna replace no no he’s gonna
praise I’ll impressed well you put out
on pro set for Jack it was fine right
Lewis Hamilton’s can Google pass both of
those guys oh yeah yeah he’s a rock star
okay Tom interesting thing you told me
about tide press victories
he’s tight pros with what is it 71 51 51
career victories he’s tied with Senna’s
what 41 yep and 81 polls or seven eight
how many polls was how many positive
take ridicu took 50% of them or
something like that right so you know
one thing you told me that was that I
thought was very very interesting is one
of my favorite interviews I watch online
is the last one of Jobs and Bill Gates
where they were in the same room
together in those red shares if you’ve
seen the one with the red chairs that
they’re sitting in you were actually one
of the 300 people invited to that and
people came to see that from all over
the world how was it being in that room
with Bill Gates and Steve Jobs what did
that mean to you tell me a little bit
about that experience I was pretty
amazing I was at the D conference which
was run by the Wall Street Journal and
if you got an invitation you could be
there it was very very hard to get on
the waiting list and I was just humbled
and deeply appreciated the fact that I
was there and when Jobs he came out to
speak what you didn’t know is that
backstage had been a little bit of drama
and if you look it up in the internet
you can find it was um you know Gates
was very upset with jobs over something
has happened many times their careers
and he had said I’m not going to do the
interview you know and let’s hell
freezes over or something Hussein does
gates that he’s not gates meet summit I
may be getting it not perfectly right on
the quote and when they were backstage
Jobs comes over and gives them like this
this bottle of ice-cold water and you
made some comments about the comment and
he gave it to them and it kind of broke
the ice
between them they talked and then it
came out and did the interview and one
of the things that really was amazing
was the appreciation but determined
competition that was still there they
appreciated each other but there was
determined competition and he also made
jokes about the fact that they were now
the two oldest guys in the room not the
two youngest guys that want to change
the world
they were the oldest guys in a room now
around a bunch of younger guys that want
to change the world and so I thought the
perspectives in that interview was just
absolutely phenomenal
what made both of them special in your
opinion what made job special what made
gates special well they both knew what
they wanted to do and jobs knew that
when you put the hardware and software
together like Apple does you control the
whole experience and that’s why the
Apple experience has always been so
perfect the Mac software and you know
they but they have the software and the
hardware together whereas Microsoft
Windows says we’re going to make an open
environment and so you take Microsoft
Windows and here’s a Developer Kit go
build whatever build the game build
word-processing build whatever you want
and gates knew that that was the path to
owning the market and later he would
find himself in front of Congress at
monopoly hearings right and we’re not
talking about the board game we’re
talking about how my show made some bad
decisions that they got called out for
and so I think that was the genius of
Gates as he saw I’m going to build this
platform and I’m going to own the whole
game whereas Jobs was like wait a minute
I’m going to do something special right
the experience and everything’s going to
be special so you had jobs the designer
with the passion to control the whole
experience and just deliver it end to
end and gates who is the enabler so you
saw a lot of control and jobs the genius
and you saw a lot of enablement and
creating a massive market in gates and
that was evident on that stage there and
I think that’s what you saw out of both
of them and I would say there is not an
ounce of difference between them on how
hard they worked or how competitive they
were I think they were dead even but
just how they want to approach the
problem and guess what we have all this
wonderful things on both sides of it
that we appreciate and we love who is
the net like modern-day right now if you
had
to say some of the guys that reminds you
either one of them who would you say
this job who would you say is gates
today wow it’s hard to say whose jobs
and who is gates but I don’t know if
mosque is like them like how categorizes
who’s Bezos like what who is why you
know it’s interesting um you know if you
look at musk and what he’s done from end
to end on Tesla and then you look at
Bezos and besos you know you go online
to Amazon and you don’t know whether
you’re buying from an Amazon warehouse
or you’re buying from some other
warehouse run by an independent person
because Bezos said wait a minute
everybody’s going to come to Amazon I’m
gonna sell everything and I’m going to
build the systems to do it so I think in
terms of like an open environment in the
systems to allow as many people room as
possible
that’s Bezos but if you look at the
beauty and the genius of Tesla from end
to end
that’s musk and I would think if I’m
going to have a fantasy CEO League and
I’m going to start with two the only two
that I picked is Bezos and musk who’s
three there’s some people that impress
me right what’s up with zotkin
presidency you said you do they impress
you
Travis impresses me ed Ober really yeah
you look at what he’s doing he look he’s
delivering food now you look at where
he’s going with that impresses the hell
out of me and you look he’s focused he’s
determined so okay so here’s another
question for you five companies that you
see the next decade dominating five
companies if you have to pick five
companies they see dominating next
decade who would it be Wow five
companies dominating you think Google’s
gonna continue dominate and get creative
and innovative like you think Facebook’s
going to keep doing the stuff they’re
doing what do you think is gonna happen
next ten years with these five
comfortable.i I think if you look at the
way Google is operating the way they you
know said okay we’re going to build
ourselves an alphabet and how they’re
aligning everything out I think how do
you bet against a data player in the age
of data I don’t care how old so who is
on the list Google’s on that list well
number one for me and I believe that we
haven’t seen the
of Microsoft but they’re probably not on
my list
I think ubers going to redefine traffic
in major cities you don’t think Eber is
going to be like a Groupon you think
uber staying around for 10 years
hell no seriously you don’t cuz you know
Groupon came everybody wanted to be the
next group angry gonna be social and now
it’s like yeah you can see those are
fast but you see you can see the way you
know uber is impacting you right yeah
why do you think Hoover’s going to be a
tenure play more than that you don’t
think mosque or Google is gonna give a
run for their money with that you don’t
think that’s going to be though
self-driving cars and and all that stuff
what you think uber is going to go into
that market as well hi boobers all ready
announcer ordering Celgene self-driving
cars doing these so I’ve got interested
okay Google we have Google we have uber
who else yep uber and musk and Tesla
right you look at the things you say
Tesla or do you say musk because well I
think I say must because do you see what
he just announced yesterday on solar he
announced solar roofs that’s right he
just went out there and so you can see
he’s applying his technology and he’s
not standing still that Tesla was in
musk it’s musk okay so you’re not
betting on Tesla you’re betting on
whatever he’s a part of combated on
where he’s taking that solar technology
and things like that’s amazing the guys
so big he’s bigger than the brand
himself first you said Google till you
said uber and 3’s months who’s your four
or five Amazon you just can’t mess with
Amazon’s for absolutely you see where
they’re applying their technology I mean
they were books another video another oh
my gosh it’s just he’s gone so far at
the technology’s done and he’s just so
smart and then number five is really a
space versus a company okay because tell
us online education and there’s two
reasons for it number one education is
broken
student loans debt is bigger than credit
card debt which is a selection but just
shocked me
right when that happened that was
announced what year and a half ago rely
everybody turned and looked at the TV
and go wait what can it be right and
that’s reason number one a reason number
two in a fast moving changing economy
hey gang get used to it right you need
to retrain and so the old education of
educate once in college and be good for
25 years gone you’re going to have to
retrain you need
find methods and locations to get
educated along the way and I believe
online education provides hope and
promise for people to get retrained for
the five or seven mini careers are going
to have because nobody’s working twenty
five years at IBM getting a gold watch
so it doesn’t sound like a four-year
degree today has the same value as
twenty years ago
no because you’re not going to work
twenty-five years at a single company
anymore you’re going to have many
careers you may have foundations like I
was in marketing but you’re going to add
to that so let me let me restate what
you’re saying to tell me who this is see
if I’m what you were saying the same
thing you’re saying an online
educational platform where I can go and
study this specific skill that I want to
learn how to improve whatever that is
that’s what you’re talking about
to adapt yourself for the chapters of
your career that you’re going to face
fair enough
got it so number one was Google uber
must Amazon and online education is what
you’re talking about
yep and I think we’re just waiting to
see the giant emergent online education
I’m excited about that um I’m really
excited for everybody here to start
learning from you because I can tell you
I’ve travel time you and I have traveled
how many places together we’ve been all
over the world together literally all
over the world together and every time
we’re together it’s at a point right now
that ret monument I just found that this
week we can’t be on the same flight in
which is a bummer
you’re not can’t fly on the same flights
and we’re just kind of annoying but we
have very good conversations together
because Thomas always bringing up cases
from different companies so I asked Tom
I said on Fridays I want you to start
teaching cases when I was at Harvard
Business School at the open program we
were constantly studying a different
case every single week whatever it was
so now you’re going to take cases so
tell us what to expect when you start
doing your case studies on Fridays
what’s that going to be like well what
I’m going to do is I’m going to take
just little stories from companies that
you know and love or you may not love
them but companies you know about and
we’re going to take a little part of
that tell you what they did what
happened and why they did it and then
you can take it to apply it whether
you’re operating a t-shirt selling you
know website or you’re part of a larger
company and the success is going to be
people take part of it and said you know
what
apply that and I can take it with me
that’s exciting I mean so can you tell
us some of the companies are going to
start right off right off the bat well
we’re going to do a whole series but the
first three that I’ve got is Starbucks
dryers ice cream dries ice cream yep and
then one that’s close to my heart cuz I
come from mobile Nokia so we’re gonna
start off with Starbucks
dryers ice cream with Nokia on Fridays
listen I can tell you this for a fact I
can take this for a fact you know value
Taemin has been predominantly myself
from day one till today it is not going
to be because I want you as the
entrepreneur I believe in time you’re
not talked about this before I believe
100% of world’s problems are going to be
solved by entrepreneurs 100% of the
world’s problems are going to be solved
by entrepreneurs and there’s a lot to be
learned from other companies so on
Fridays
tune in on value tainment to biz doc Tom
Ellsworth to learn about whatever case
is going to be doing the first one’s
going to be going out next Friday so if
you haven’t seen it go to next Friday
stay tuned next Friday the first one’s
going to be launched which is exciting
the first case is which one time tell us
the first case Starbucks Starbucks is a
first case so tune into Tom elsword biz
doc next week Paul let me get my pillow
here to get everyone to subscribe if you
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please do so my challenge to you is go
watch all the other videos on value Tim
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bringing you around the subject of
entrepreneurship with that being said if
you got any questions any thoughts for
Tom please comment on the bottom take everybody bye-bye
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