Matthew Souza (00:02):
Made it 11:00 AM 11:00 AM Pacific Standard time. On the dot. On the dot. No, not go live on Twitter. What’s up guys? How’s everybody doing? Start with a one. Oh, intense. Remember this one from last time? Do like a Tony Robbins thing and just start jumping around on the stage?
Tyler Watkins (00:34):
Yeah, let’s go.
Matthew Souza (00:37):
I don’t know why. Got to boost the energy up. Okay. Enough of that. Enough. That faded out. What’s up Jose? We got Tyler Watkins joining us. I think he’s joining us. He’s supposed to be joining us. Be right there. Hopping out of a work meeting. Lame. Who works anymore? So here’s what we’re going to talk about on today’s show, confirming the thumbnail right away. So I had this discussion with Tyler Watkins and we were chatting. Whoa, that song’s still playing. What’s up, Justin Instrumentals? Last time I asked if anybody could guess this song, one person did very cleverly in the comments. I dunno if that’s okay. Alright, enough of that. Alright, so what we’re going to do, Tyler Watkins and I were having a conversation and we were discussing about, Hey, can you actually make a profitable CrossFit competition? Here he is. Hold it up with good internet, but a weird sounding mic. Is your microphone on applause?
Tyler Watkins (01:49):
Is it working?
Matthew Souza (01:51):
I think so. Can you hear the live audience?
Tyler Watkins (01:55):
Yeah, I can. Yeah,
Matthew Souza (01:56):
You heard ’em applauding for you. It’s an important part. It’s an important part of the feature. They’re huge of my show. Okay, so I was given the premise, the breakdown of what we’re going to be discussing, and I was letting people know that you and I were having this conversation as we do a lot of different ones around the business of CrossFit and CrossFit competitions in particular. And we got chatting and we’re like, okay, let’s go through this and we’re going to do the weave. You guys are going to feel the weave here, but we might bring it back around essentially as to can the CrossFit games ever be profitable and survive? And I think we’re going to kick off with a little case study using Crash Crucible. And I think that’s going to tie into the larger picture of the conversation kind of interest interestingly, later on. And I got some cool figures and numbers and everything for you guys, but real quickly, I want to play something for you. I don’t know if you’ve ever seen this before.
Tyler Watkins (02:56):
Hold on. I’m stoked.
Matthew Souza (02:59):
You may have seen it before. Don’t be too crazy excited. Just maybe kind of excited. So in the last couple podcasts in the last few months, Greg had mentioned pretty much the only thing he had left to give in the fitness industry or two affiliates was this talk at the 10 year affiliate gathering in Whistler. And this indeed is the talk here brought to us by a broken science initiative YouTube channel. They also have Thomas Siegfried talk on cancer being a metabolic diseaser. That video is doing really good. So go check that out. You’ve heard Savon and I talk about it. That was at the talk that he gave in Boston. Anyhow, back to Whistler 10 year affiliate summit. I just want to listen to this one part here. And I don’t know if any of you guys have heard this before, but I think you might find it interesting.
Speaker 3 (03:47):
How come now and here and today, 10 year affiliates. And what happened was a couple of months ago we got off social media. Anyone remember that? Yeah. And we gave some reasons. I think they were completely legitimate. I think that company is fundamentally evil and there was the rationale for it. You can find that on.com. Each one of those was more than enough reason. I never got Facebook anyway. I never really understood it. But the selling of our information and lemme look at go through the list. That’s not why we’re here to talk about Facebook.
Matthew Souza (04:15):
Is it super choppy for you? I know my internet bar is low.
Tyler Watkins (04:18):
Yeah, it is.
Matthew Souza (04:19):
Can you hear it okay though?
Tyler Watkins (04:21):
Yeah, I can hear it fine. It’s perfect. It’s perfect.
Matthew Souza (04:23):
Okay. Alright, great. Great. No sell back to Greg for a dollar. Scott. Morgan. Yeah, we hope. Okay, continuing on
Speaker 3 (04:32):
Facebook. But what was amazing was that we got an overwhelmingly positive response from mainstream media, which I’d never expected would happen. I should have because I get now that social media and mainstream media at war with one and see each other’s competitors, but from all over the world and just about every major media outlet held us up as heroes for getting off of fucking Facebook. I thought that’s really weird because mainstream media is never liked anything we have ever done. And here we are getting the ultimate praise and from around the world and it scared me. It gave me reason to really check our shit. Maybe we fucked up.
(05:03):
I don’t like that. I’m not comfortable with all of that. And so we said, well, geez, who doesn’t like this? And so I talked to the affiliate team. I actually found a few affiliates that were upset at the move and one in particular that I knew. Well, I knew these young men from their inception from the start, they’re good trainers, they’re good kids. They got a good box. Andrew, do we have that line? Do we have that sentence? This, by the way, this is Brian Mulian Ru Green here. Look at my deer in the headlights.
Matthew Souza (05:26):
I don’t. So anyways, he goes on to continue the talk there and I just thought it was interesting. Everybody could go check that out. But Greg later on says, oh, that might’ve been a mistake getting off of the social media. And a lot of people were really critical of the abrupt change in the media direction, in the direction of crossfit.com At that time, if you remember January 1st, 2019 was when we had the big switch from what we normally saw on main site, the old people on the couch and Avon’s mom doing dips in the back of the couch and stuff. So he gave that talk and kind of explained why he did that. And I think the reason why that’s important for this conversation here is because there had to be some sort of fundamental changes made in order for CrossFit the company to financially survive. So anyways, I hope that didn’t derail it too much, but have you ever heard that before? Have you heard that?
Tyler Watkins (06:26):
I think I have most of his stuff. I’ve seen all of his little bits and stuff there. I remember going through that. I remember the weird old lady and the old dude in the couch stuff that looked like the set of Roseanne. It was so strange. And then I remember when they shut off media, I was like, does Greg know something? I was just totally lost. And it felt like it was like your crazy uncle did something and it was like, what’s happening? I mean, looking back, I totally understand why you did it. Do I think it was a good move? Probably not, but I do understand it is a justified move. Doesn’t mean it’s a good one. It’s justified.
Matthew Souza (07:08):
Yeah, that’s what I said too. I was like, I agreed with the overall theory and premise. I just would’ve done it a little bit differently. But I guess the abruption came from some frustrations that were experienced internally with wanting to make that nudge, kind of saying that that not really having any action behind it and then just saying, okay, fine, then I’ll just do it and we’ll just rip. I’ll drive over to a Fremont, rip the servers out or wherever that is. When Elon did that, that’s the equivalent of
Tyler Watkins (07:37):
It looks more and more intelligent what he did. But you have to be able to replace it somehow. So okay, you take yourself off social media, you need to double down on the budget you’re spending on YouTube essentially, even though YouTube is a social media, it’s a totally different thing. There are people who comment and you can do essentially the same thing in there, but it’s just a totally different feel. It’s not nearly as viral. And I think per Greg’s mission, it applies a lot better.
Matthew Souza (08:09):
And like Justin’s saying here, they lost their ability to control the narrative. And that’s right. And if you pay attention to the start of that, Greg was like, wait a minute, we got a ton of attention by mainstream media that we never got before that was positive. And he was like, and that raised a red flag for me. And that right there is also why is that? Is because it’s being pushed onto the mainstream narrative from their voice, from their point of view. And he’s like, wait, what are they saying? How do we correct it? Because typically they have not been fair or nice when it came to CrossFit at all. Okay. So what do you want to start this thing off at? You want to go back to crash like you were saying and start with
Tyler Watkins (08:48):
Did you spell out the idea of essentially what happened us coming up with this idea?
Matthew Souza (08:54):
No, not really. Just basically a conversation.
Tyler Watkins (08:56):
So we’ll start there and just float. So I mean essentially we’re at Crash and Susan and I are staying up till two in the morning and getting up at six and we’ll get home when we’re getting home like 10 o’clock.
Matthew Souza (09:10):
And
Tyler Watkins (09:11):
We’re spit balling both ideas for the group in general, but then also what’s going right with Crash. What’s going wrong with crash. And then a couple days after we got home and sort of debriefed, I text Susan and I was like, we need to analyze this a business we would with anything else, but really look at it, compare it to the only other thing that exists, which is semifinal slash regionals, and just think about it like an overall business model really. This is something that Susan and I do already, but do it out in front of everybody
Matthew Souza (09:45):
And hopefully you guys will dig it because whatever, we’ll try to make the conversation as entertaining as possible. But it’s definitely going to be on the economics and running competitions. And if it’s feasible to last long term.
Tyler Watkins (09:57):
Well that’s the question that it’s funny, every time I see CTP for those who don’t know the camera guy for barbell Shrug, but now TTT, every time I see him at a competition, whether it’s the games or semi-finals or whatever, he’s always like, is this worth it anymore? What are we doing? And Susan and I ask that question a lot, is this still, is the juice worth the squeeze here? And when we left Crash, I was like, the juice is worth the squeeze for this 100%. But I also love playing devil’s advocate against myself and being like, or am I just hype on this situation that we created? So that all starts for me with assessing it as a business for those who don’t know, I’m an accountant in my real life. So it’s sort of secondhand nature to be like, I really like this idea, but is it just something we pay to do hanging with the boys or is it something we can really make money off of and make the future of the sport? And that’s what the key thing to me is, is we’re in a bit of a growth, not really a bit of a growth lull, like a complete growth pause if not free fall. So it’s like if you find something, it works. It’s like, is this it? Have we landed on something here?
Matthew Souza (11:18):
And so how do we want to start? You want to start with crash or I actually have some interesting numbers from the CrossFit games that might paint the picture or the problem rather, what do you want? So these are just kind of made up figures that I have that whatever we could back some of the math into if we want to, and I’m sure Tyler might question me a little bit on it, but essentially if we use something around prior to the plug being pulled on the media. So 2017 was the last year that we had all that big media, right around 2018 was when that change came.
Tyler Watkins (11:50):
Oh, this is a good idea. I ran numbers two, but you went at it from a different perspective. So I’m interested to see where you went.
Matthew Souza (11:56):
Yeah, because mine all backs into how do we, the competitions and everything are cool. I think there is a marketing tool for them to affiliates, but mostly my concern is how do we strengthen the affiliates and how do we use this to the affiliate advantage? And if it’s not being a great marketing tool or it’s harming the affiliates, we need to look at that and make some corrections. So let’s say 20 17, 30 8 million for top line revenue, which we could predict out with about 10,000 gyms. And we’re just using these numbers roundly, so it’s easier. But give or take, it might be close to about 10,000 affiliates would now in 2025 would mean 45 million. So if we use a 38 million top line for affiliate revenue in 28 17, and then let’s say we have training revenue that’s just exactly equal. So 38 million again, and
Tyler Watkins (12:46):
That’s like level one. So all level
Matthew Souza (12:48):
One, level two, this is when they had specialty courses. So let’s just say all that lumped into one. All right.
Tyler Watkins (12:56):
CrossFit Field Sport, shout out.
Matthew Souza (12:59):
Yeah, CrossFit football. So let’s say that from that, the net affiliate money means the net income. So just how much it earned outside of paying all the people and everything else that it needed to was 27.9 million in affiliate money, which would be pretty high because you figured that mostly those are just expenses, benefits, employees, payroll, those type of fixed costs potentially that would run the business. By and large, it doesn’t take a lot for you to deliver outside of onboarding on the service of affiliates. So the cost of delivery for that would probably be relatively low in the grand scheme of things relative to your training because that you need to fly people out, you have to host ’em at a gym, you have to have a staff there, you got to feed ’em, you got to pay for their travel. So those expenses are a little bit higher.
Tyler Watkins (13:41):
So what you’re saying is your variable expenses are high, whereas if you create videos, those are evergreen, those exist forever. People can watch ’em over and over again. But the seminar staff is a unique instance. Every single time it’s a hamburger, you have to put lettuce on the hamburger every single time.
Matthew Souza (13:55):
That’s right. As opposed to the, like you said, the affiliate fees like a video, you could just continue to watch it and it goes right. Yeah. Okay, so then now let’s put in some of the losses here. So let’s assume there’s 4.6 million in losses for training. So that’s how much it costs essentially out of that top line revenue of the 27 million it costs to run the training department. Now, let’s assume that there’s a CrossFit games attached to that. It would be 14.3 million in losses. So if you look at the,
Tyler Watkins (14:25):
You’re saying losses in costs, okay,
Matthew Souza (14:27):
In costs, but money, I’m
Tyler Watkins (14:28):
Going to account, bro, don’t be screwing with my wordage,
Matthew Souza (14:31):
But where does that money come from? It comes from that net income that we have from affiliate fees. And so essentially making it pre-tax net profit for CrossFit is around 15.2 million. So if you have a company that size, and that’s your pre-tax profit right there, that’s pretty negligible for a company that size. Now, where is the problem? So the problem becomes if the games costs grow faster than affiliate ship grows, we have a big problem. Is everybody following
Tyler Watkins (15:14):
It?
Matthew Souza (15:15):
What do you mean it shouldn’t, the game shouldn’t outpace the growth of the
Tyler Watkins (15:19):
Affiliates. Oh, the games games probably did, but what I’m saying is at the current model, if you just continue to grow the pie, it shouldn’t, yeah, your variable costs will rise with the thing, but it should be the same percentage. The pie grows, but the thing stays the same, right?
Matthew Souza (15:37):
So the problem is the slice
Tyler Watkins (15:38):
Stays
Matthew Souza (15:38):
The same. The problem is what happens is when the pie doesn’t grow, but the slice starts to, so here’s what I just kind of put just as some cliff notes of this, and this kind of paints the problem of the unique situation that CrossFit HQ is in as well as us just in totality as a community. So CrossFit, the games grows faster in spending. Affiliate growth is in decline year over year. Affiliate money funds the games money not reinvested in training or affiliates is subsidizing its own demise. You following?
Tyler Watkins (16:16):
Yes. It’s to use another analogy, it’s like carbs. You can work out more and more. A lot of the time if you ingest more carbs, you’ll have higher intensity workouts. You can do more workouts, but there’s a return on investment. You can’t eat a thousand grams of carbs every day, you’re going to start giving yourself diabetes and then all of a sudden you’re funding your own death that way. So it’s the same situation here. This seems like a good idea. Pour money into this thing, pour money into this thing, and then all of a sudden the cliff comes and you didn’t see it coming.
Matthew Souza (16:53):
Yeah. Yeah. Okay. So get with the programming. Interesting. Affiliate money does not fund the games
Tyler Watkins (16:57):
Anymore, I would imagine, but
Matthew Souza (17:00):
We
Tyler Watkins (17:00):
Know it did.
Matthew Souza (17:01):
Well then what does,
Tyler Watkins (17:04):
Well, Bo says the open revenue, and that’s a sizable chunk, but that’s also drying up as well,
Matthew Souza (17:12):
Right? So what about the open revenue? Can that go towards the cost of funny, the games? Absolutely. And I would say that that is the main source of revenue. So chasing it is saying Opens and partnerships. So interesting enough, chase, let me help you out here. And by the way, the TV deals were paid for maybe not anymore, but off the data I had. So we have if 51 cents of every dollar is spent on the CrossFit games, but the CrossFit games only brings in 25 cents of every dollar of revenue, it’s a train running off the tracks. So listen to that. If I have 51 cents of every dollar that I have is spent on creating the games
Speaker 3 (18:02):
And
Matthew Souza (18:03):
The open revenue like partnerships and Open Quarterfinals is only bringing in 25 cents of every dollar of revenue that’s earned. That difference has to be made up with affiliate
Tyler Watkins (18:18):
Money. Supplemented, supplemented. Yeah,
Matthew Souza (18:20):
Supplemented subsidized. Correct.
Tyler Watkins (18:23):
Now I’m playing both sides right Now I understand where Chase is coming from, but I also want to see where your idea goes.
Matthew Souza (18:30):
Yes. So now what Chase also is speaking to is right now he’s talking about right now referencing back to 2017. So that model could have changed,
Tyler Watkins (18:44):
Right? Pre the explosion in the first Death Star. Got it,
Matthew Souza (18:48):
Right? Yeah, exactly. August is no offense, but if Chase is employed by hq, I have the tendency to believe him.
Tyler Watkins (18:56):
Yes. Chase doesn’t No shit. He’s a fake information.
Matthew Souza (19:03):
Yes, Matt Bloody, yeah. Yeah. Just giving context and information, boys.
Tyler Watkins (19:07):
Yes.
Matthew Souza (19:08):
I’m here from the party to feed you context and information. So anyways, now get back to the, now let’s go to crash. Okay, so why would I say that? I was saying is essentially if there’s not some sort of overhead net, meaning if we do not have a safety net of cash in CrossFit’s money, the affiliates in the early days, potentially not now, right? So let’s say that what we’re saying here is that everything is true and that the open is completely all the money that it brings in. It brings a hundred dollars. We have a hundred dollars to spend onto the games, plus we bring in partnerships. Those partnerships give us a little bit more money. Now we make a little bit money off it. Okay, so let’s say that that is the case, then that would mean that there is no overhead being subsidized by any other funding, and you could clearly see that on a separate p and l would be the only way you could do that.
Tyler Watkins (20:00):
Correct? Which is reverse, yeah. Is reverse of the situation that you would want. Well, two things. You would want the games to create a little bit of revenue to subsidize your operations at HQ for the affiliates In a perfect world, or the marketing that you’re getting from the games is doing that down the road, which is how I got into CrossFit was essentially because of the game’s 2012. But I mean, I think we’re seeing that that’s not the case anymore either. I don’t have hardly any people come into the gym come in because of the games anymore. And there’s multiple reasons for that.
Matthew Souza (20:43):
Even if there was a small amount of revenue contributed from affiliates to the games, you could argue that that’s a reasonable amount to invest in marketing. And we’re claiming that the CrossFit Games is a marketing tool for the affiliates,
Tyler Watkins (20:58):
Which
Matthew Souza (20:59):
To some degree it is. It should be. It’s not nearly leveraged the way it could be and the way it should be. But we both agree that it can be right. And to some degree it still is right now
Tyler Watkins (21:12):
To
Matthew Souza (21:12):
Some degree. So the question then in fact is if we don’t have that affiliate money to get this going in the first place, so let’s say the model has changed, now that it got in the hands of private equity, they were able to clean it up. It only exists with partnerships in open money. Like Chase is saying, then Justin Berg would still be around. He wouldn’t have gone over budget. So if that were the case, maybe that’s why he got fired was because he went outside of that money allegedly. Maybe he went outside of that budget. So then in which case where that money magically appear to go outside of the budget would be affiliates. And again, going back to the numbers of 2017, it was a monster that was funding its own demise because the game was growing in expenditure much faster than it was able to bring in money and grow affiliates to subsidize it.
Tyler Watkins (22:00):
Everybody knew that we could see the cliff coming to a degree. I mean, would you agree with that statement?
Matthew Souza (22:10):
Oh, for sure. Yeah. It needed to be restructured. And interestingly enough, in 2010 when they still had, what was it? Sectionals?
Tyler Watkins (22:21):
Yeah.
Matthew Souza (22:22):
Instead of sanctions or whatever, they had sectionals and that was ran by the affiliates. I think there was like 33 regions or something like that. So if that were the case and they ran all of it, they got their own sponsorship. So it was like a NorCal classic. It was like a crash crucible that was actually really good for the CrossFit games because couple of reasons, not only did those affiliates responsible for all their own stuff, so CrossFit didn’t have to get involved in paying for that at all, but it created a big funnel of people coming to these affiliates or to wherever they were hosting them to watch these athletes go. And then it kept it at a local level with partnerships like we’re seeing now with the NorCal Classic and we’re seeing with Crash Crucible.
Tyler Watkins (23:08):
Well, can I piggyback off this real quick?
Matthew Souza (23:11):
Yeah.
Tyler Watkins (23:11):
Because if you guys watch the Spin Cast the other night and the rumors or the fake news that Spin is spreading about Dubai, the license model that Greg tried in 2019, which is the Sanctional model that is essentially, if we’re right, we’re walking backwards back into that because it’s the more profitable model. The issue now is that you’ve eaten through human capital and human faith to where people like NorCal and Crash don’t want to be affiliated anymore. So you pull from the licenses anymore because nobody wants to buy them,
Matthew Souza (23:49):
Right? Yeah. They’ve spent the equity in that situation of being a licensed sanctional, which used to have put you up on a pedestal a little bit. And now people are like, yeah, we don’t even really didn’t really care.
Tyler Watkins (24:02):
And I think this, sorry, this is where people can have a philosophical difference is to me, I think what Crash is doing is right. And I think what NorCal doing is doing is right, but if say there’s this rumor about the different organizations that are all trying to start their different version of the sport, I think they’re going to set themselves up to a similar situation in which they’re building their own demise again. Because at the end of the day, I was talking to somebody about this, at the end of the day, people want the big cheese, they want fittest on earth, they want that title. They want to play for the big game. And if that doesn’t exist anymore, which will happen if there are multiple leagues set up, it’s all over. So because at the base of this model, it all comes from the affiliates anyway, the fans, the people who play. Even now when people don’t train at gyms anymore, they’re all training at their own little locations. It’s still all being funded from the members, from affiliates.
Matthew Souza (25:01):
Yep. Yep. A hundred percent.
Tyler Watkins (25:02):
Sorry.
Matthew Souza (25:03):
No, that was great. That’s a great point. Let’s go to a couple of these comments real quick. Clock wait, is that real Berg got fired because he went over budget allegedly. Again, I’m just the guy with the microphone. I don’t really know shit. Chase sectionals regionals to games.
Tyler Watkins (25:17):
2010.
Matthew Souza (25:18):
2010. Did you compete in those?
Tyler Watkins (25:23):
He was in,
Matthew Souza (25:25):
I mean I know he was. He
Tyler Watkins (25:26):
Went to regionals 20. Yeah,
Matthew Souza (25:29):
I remember watching him at regionals, but I wonder if he was at sectionals as well too. Jake felt him fired over budget. Seems like a cop out could be. Good thing. Yes, I did. That’s awesome.
Tyler Watkins (25:39):
Why don’t you just brag away in the comments, chase.
Matthew Souza (25:43):
I’m
Tyler Watkins (25:43):
Just
Matthew Souza (25:43):
Kidding. I thought the bottom was just switching the whole system every year. Seems like it. That’s also another good question for Chase. Have they switched it every single year? Has there been a change every single year made
Tyler Watkins (25:55):
The past couple of years has, well nevermind it may be every single year.
Matthew Souza (26:02):
I think there has been a change every single
Tyler Watkins (26:05):
Year. It’s muscle confusion, but the fan muscle,
Matthew Souza (26:10):
Muscle confusion, maybe the best event voted gets the program, the games that year. Yeah, I think there’s a solution to that too. No, 2014 to 2018 was the same.
Tyler Watkins (26:23):
So those are the years that we all look back on and as the regional
Matthew Souza (26:26):
Years. Well, no, because the regions did get combined those years, didn’t they? A so called NorCal got combined and then it got combined to a west region.
Tyler Watkins (26:35):
There was regionals and then there super regionals. And then there was also adjustment of lines a few times, but getting into subjects that don’t matter.
Matthew Souza (26:44):
Yeah, yeah, yeah, yeah. Sorry, we’re off in the weeds here a little bit. Okay, last one. Casey. Allen. Did you guys see the world in which the games dissolve, but Greg buys back, Greg will never buy back the games. That would never happen. CrossFit the company. I don’t even think that either, to be honest. I think he’s way too into all the broken science stuff. Wasn’t the program made different at all of ’em? Yeah. I want to, and Seima hold onto that because I have a solution for that and I’m curious to what Tyler thinks about that. Okay. So let’s pause real quick on all the stuff from the games and let’s go into Crash Crucible because we’d spoke a little bit about using that as a case study with, and JR talked about if you guys haven’t seen the video that Rios made, do yourself a favor and go over there and check that out. The story of Crash. But JR publicly stated in that video that he was like, I never wanted to grow larger than crash. He was then doing it at his physical affiliate. He was like, the most I could see is us cementing this whole back area and you guys could see the drone shots if you go check that out. And he’s like, and we could do something with this whole back area, extend it, extend it out, which would be crazy.
(27:55):
So he spoke about that and he’s got his members that are helping him out. So there’s a lot of volunteers that are done to that. Of course, they’re very well fed and everything the whole entire time and taken care of in terms of how much time they’re actually on the floor and their jobs and their duties. But by and large, he’s able to do it on a pretty shoestring budget, mostly because he has location, he has people that are into it and he’s able to just do a lot of the work himself with his team there. So when we talk about sponsorships that get involved, is there a reason, and Travis could probably speak to this too, with his booth, with the Vate booth he had, but for partners that come to something like that, would that make sense? If you’re a brand, would you go to those type of competitions? Would you sponsor them?
Tyler Watkins (28:42):
I mean, essentially that comes down to foot traffic, which I did have a conversation with JR. About, and this ties into there are two sections of crash that you really have to analyze. One is jr’s portion, which is running the event itself, like you said, the building, all the bonuses that he has from doing it from his own affiliate and his own location. That’s almost probably, it’s going to be the most understated portion of this, but that gives everyone so much freedom to do everything. But then there’s also the production side. And so one of the things that I told SU that I did not, and we want to review ourselves on this, but I think one of the things that we didn’t do a good job on was pre-promotion of crash. But why didn’t we do that? And it’s because normally crash has been done for just the competitors. It’s not really been done for fans who are live. So the foot traffic side of this, and then it’s turned into this production thing where people can watch from home. And so I sort of asked him, are you limited on the amount of people that can come and watch? And he was like, yeah, I mean that’s going to be a limiter. Huge.
The above transcript is generated using AI technology and therefore may contain errors.
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