Ben Gilbert: belief

Transcript context

…Am I saying business line or asset? Yeah, I think I’ll say business line because I think these are sports teams traditionally have been viewed as assets. You don’t buy sports teams to make money. It’s the traditional view on this space. It’s billionaires who want to play and have fun and have a retirement gig. But I think that might be changing. I mean, with the growth and the tech themes we’ll talk about, I think there’s a bright future ahead for sports franchises as businesses and as global businesses that we’ll get into in a minute. So yeah, business line. Cool. Moving into what would have happened otherwise, I think we should focus more on the team than on what Steve Ballmer could have done with his money. But it is interesting that according to that Forbes list at least, the business hasn’t appreciated at all and if he just parked it in an S&P index fund from that day that he bought it until today, the day that we’re recording, it would have been a 20.8% return. So like you’re saying, at least in the short-term so far from what we can see in terms of actual appreciation of the estimated value of the asset that is the team that he bought, not the best place to park your money for an investment. All right. Should we move on into tech themes?…

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