Q&A #9 – Audio books, Esports future & #sportsbiz

Second question came via Twitter DM Tinus Leroux from Fan Cam, former podcast guest. He asked and I don't know if it's in jest, but I'm going to take it on face value, he asks, Who do you think will lose the most money in sports in the next five years? (I know quite a few folks will make a lot of money, but with the new movements I find it a good thought experiment to delve into the opposite side of that scale.) Thank you, Tinus. That's why I like you as a friend. You're always challenging my opinion. It is a good thought experiment. I'm hoping I'm not one to begin with that with my own team Gravitas and what we tried to do with SG Esports. But I think the people that will all of these aren't esports specific answers. They like start up answers. But I guess the only esports answer would be a team only rollouts saying, hey, we're a team, we've got a sports team, we play esports. We play esports doesn't justify the big valuations in my opinion. I think they need to find some diversification and find different methods to bring in revenue, not just by our sponsors, because it's not that different to a sport in that sense. And they definitely need to leverage more of the digital audience. But the more more Start-Up advice would be investors not invested. By that, I mean investors who are buying into the idea and the buzz around a sports but not really rolling up their sleeves and learning the business and understanding the business to understand the audiences and the nuances. So I've seen a little bit of that with people buying in and thinking these rivers of gold there were about to dive in and understand it. I think also inside the sports and the gaming culture is potentially people who were unwilling to try new things. I don't think the perfect solution and the perfect implementation has been found as yet. But if you're going to stick to your ways and say this is how we've always done it, that's a certain way to lose money and fail. And then the last one, which is, you know, again, smart business practices, those who don't manage their costs. So we're taking a slightly different tact in 2020 and having a. Very hard look at our costs to make sure they're not spending money again. Business fundamentals not spending more money than we're bringing in. So keeping those costs under control and tying tying costs like players and things that we're doing this base to revenue, I think get figuring out that piece and tying revenue that's coming into a sports to some of the outgoings will make a lot of sense. I think there is a bit of consolidation across multiple sports are seeing an overwatch now where the cutting of costs and those kind of things. So we're not we're not just diving in on the buzz. So I think you're a bit of business sensible sensibility, I guess. So hopefully that answers your question. I look forward to our next long walk in New York next time we catch up Tinus.