Speakers in the public record
Claim mix
belief 28evaluation 8uncertainty 5commitment 5observation 4preference 2recommendation 1prediction 1
Evidence policy
Every row below preserves an exact excerpt. Identified speakers are linked; unresolved voices are labeled and excluded from people counts.
Claim ledger
The useful parts, with receipts.
54 published records
“Well, first off, we owe a huge thank you to Joshua Robinson and Jonathan Clegg, who are the sports editors over at The Wall Street Journal, and just recently published, I think the best business history book of Formula 1 called The Formula.”
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“It eventually became the sport of rich guys who want to own teams to gallivant around Europe, losing colossal sums of money along the way. And in fact, David, since the sport began, over 100 separate teams have entered and exited the competition, mostly because they went bankrupt.”
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“I think there's a related bull case of a champion or champion level female driver emerging in the coming years.”
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“I think, is the easy answer. David: And then I think inventory, you're right. There's sort of a structural thing.”
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“One thing that I think you could have argued a couple of years ago was a bear case, but I think has been put to rest is this was a COVID-driven fad.”
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“I don't know, it'd be hard, though. Their faces are so squeezed in those helmets.”
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“Today, I think every single F1 team is worth at least one and a half billion, I think is the floor.”
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“Assuming there's, I don't know, 15 races or something, that would be 135 distinct agreements between teams and local races.”
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“If you do the quick math on that $630 million and call it, I don't know, $30 a ticket, you come to the number of 21 million tickets sold at the box office.”
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“Not just an entrepreneur. I think you need somebody truly with Bernie's background.”
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“The offering I believe was intended to be $2 billion but there was not enough demand and Morgan Stanley could only rustle up 1.”
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“I think you could maybe even argue they are the only legitimate luxury brand established in the second half of the 20th century.”
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“We're still loyal to McLaren. But we will give you an engine so that you can compete with your team this season and not shut it down.”
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“Totally, mortal danger was actually, I think, a core part of the appeal of the sport in those early days.”
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“Yep, and just so people can really picture it, I think you kind of know what an F1 car looks like now.”
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“You give me your rights for your team appearances, and I will go fight with these race promoters, many of whom are probably gangsters themselves, and I will get us the best collective deal.”
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“In my opinion, you get a positive feedback loop and a negative feedback loop at the top and the bottom.”
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“I think in sport, yes, you always want the most talented and highest performing team to be able to win.”
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“I think you're right that the initial thing was, oh, yeah, people like racing, and this is visually compelling.”
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“I don't know if you knew this, David. I talked to Zach Brown, the CEO of McLaren Racing to prep for this episode.”
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“The purchase price that Red Bull paid was one British pound to establish Red Bull Racing. Now, the problem is they still got to make the team good.”
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“Also gets purchased for one British pound. And listeners, I suspect unless you are a hardcore F1 fan, you probably will not be able to guess what team this is.”
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“We think the answer is, ultimately, this incredible probabilistic intelligence with deterministic controls and that orchestration layer from ServiceNow.”
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“There was a six wheeled car at one point, because it wasn't in the rules that you only had to have four wheels. And over time, as they start adding more and more guidelines for safety and for all these other reasons, the way to succeed in Formula 1 shifted from making a more powerful engine or figuring out the very best aero to figuring out how to exploit the rules.”
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“I mean, the biggest thing I think we've seen is Ferrari, who is a front of grid team, is doing something very clever to create downforce with their exhaust.”
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“" I don't think Atlassian has a physical executive briefing center. I think F1 and the paddock club is their executive briefing center.”
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“Look, that business reality. Give me a few months, and I will find a buyer for the team.”
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“Oracle's CMO said, I believe on an earnings call that Drive to Survive was the reason that they decided to get into F1 and do the big Red Bull sponsorship.”
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“Even before realizing, hey, media rights are going to be super valuable, the thing that he clearly sees is centralizing these negotiations is going to be the way to extract the most value.”
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“In general, what diffusers do is they direct the airflow that is coming out from the bottom of the car up and sort of out of the way to ideally shape the aerodynamics as the air escapes the back of the car.”
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“Back to your point earlier about Red Bull strategy, they could be making much more, I think.”
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“We are going to help you guys institute a cost cap on manufacturing and we'll help you design it.”
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“Liberty says, will you please show all of the F1 races on the calendar on ESPN? We will give it to you for zero dollars.”
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“I think there's more you could do of bringing the people from "Drive to Survive" into the race that they're the same people, so you should be able to do it.”
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“Team owner, race promoter, official FIA representative, and of course, CEO and owner of FOPA and de facto, the league itself. And I think at every point in time, he was always in at least two, if not three or four of those roles simultaneously.”
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“Compared to, I believe, over three billion that Bernie and his trust had pulled out of the company through all the debt and equity machinations that we discussed earlier.”
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“I believe still to this day, Ayrton Senna's funeral in Brazil is the largest attended public funeral in history.”
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“Here's why I was going with the second reason why I think you needed a Bernie. The global nature of the sport, the insane logistics required to be operating a global sport, the idea that an employee, that the teams, the F1 teams, could have gotten together and hired an employee like the NFL did with Pete Rozelle to go and create all this.”
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“I don't know what percentage of that doubling is attributable to Drive to Survive, but it's not 10%, it's probably more like 80%.”
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“At a minimum, I think you absolutely needed a strong individual personality to emerge at the right moment in time.”
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“We should note here, for folks who are not deep F1 fans, I think maybe the only part of F1 cars that is common mandated across the whole league.”
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“I think the average tenure over the entire existence of Formula 1 is about six years for a given team.”
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“All right, so they go to Netflix, these clever F1 guys. And they say, hey, I think you should do a series.”
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“Of course, what we're getting at is they end up with, I think, the most impactful piece of sports media in history.”
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“Obviously, there is this incredible counter example out there with the NFL of a similar dynamic, arguably a much more complicated dynamic because there were a lot more teams in the NFL that needed to be wrangled.”
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“We should also note here too, we being a little glib in this episode, in 2023, Bernie ultimately pleaded guilty to tax fraud as a result of all the machinations] we're about to talk about and had to pay a 653 million pound payment to the crown in back taxes and fines. And he also received a, I think 17 month jail sentence, which was then suspended, probably in large part to his advanced age.”
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“I can't imagine any other sport that is anywhere near as complex as this. And so you've had this crazy history as a result, but it's still been durable because nobody else could pull all of these disparate parties together in the way that Formula 1 has managed to.”
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“The cars have three to 600 sensors on them. And shockingly to me as an American, David, I don't know if you knew this before we started researching, it's actually the world's most popular annual sporting series with over 827 million viewers.”
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“I like being able to look someone in the eye and then shake them by the hand rather than do it the American way with 92 page contracts that no one reads or understands.”
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“There's a giant compromise here, but it has saved at least three people's lives since then because it can protect a driver even when a car is upside down and skidding.”
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“He actually renews the European Broadcasting Union deal for another three year term to sort of keep growing the sport and not value maximize just yet because he doesn't want a lot of money to start going to the other organizations.”
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“The Red Bull entrance into F1 was so perfectly timed because this is right as the EU regulation is coming online, forcing tobacco finally out of the sport.”
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“Yes, but for fans of ground effects, they would make their way back for the 2022 to 2025 regulations, which that's what we saw in Vegas, David. It was crazy cool to watch because I think 70% of the downforce from those cars is created by the ground effects, not from the pushing down of the spoiler, but the sucking of the car onto the track.”
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“What Braun realized, maybe not first, but I think better than anybody, was the dynamic we talked about earlier, that after the FAA started clamping down so much on the rules, the way to win was to exploit loopholes.”
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