Norway's youth sports model is super unique:
• No scorekeeping until age 13
• Participation trophies for everyone
• No travel teams or national championships
• No online publishing of scores or athlete rankings
• Parents typically spend less than $1,000 per child per year
The result?
A 93% participation rate — 40 points higher than the U.S. — and more Winter Olympic medals than any other country in history, despite Norway having a population comparable to the Philadelphia metro area (5.6 million).
And it's not just winter sports...
Norway now produces some of the world’s best summer sport athletes, including Erling Haaland (soccer), Casper Ruud (tennis), Viktor Hovland (golf), and Jakob Ingebrigtsen (track and field).
So if you want to learn more about how Norway's youth sports system actually works (and what other countries can learn from it), here's an essay I recently wrote during the Winter Olympics that breaks it all down.
READ: https://t.co/PeD07abUY3
Can’t wait to rock the red helmet on Sunday with #BillsMafia Repost today for a chance to win this helmet 🥶🥶⛄️signed by yours truly 😉
#WPMOYChallenge@DDawkins66
In it’s heyday, Goldman’s special situations group was the navy SEALs of money making. Today’s guest, Alan Waxman, used to run that group before leaving to build Sixth Street, now a $115b behemoth.
SSG heads were sometimes of the more brainy, nerdy variety. Not Waxman. He is a force of nature and energy who apparently would pound around the SSG office, loudly and enthusiastically asking people “who is going to make us some money today?!”
When I asked another SSG alum about Alan, he said his main memory was his remarkable nose for talent. Once, the smartest guy at SSG (which is saying something) was a mere entry level associate, 6 or 7 rungs in the hierarchy below Waxman. But, Waxman immediately recognized the raw talent and was joined to this associate at the hip.
Under Waxman and his team, SSG produced an insane (so insane I can’t quote it!) percent of Goldman’s bottom line. In creating Sixth Street with his partners and team, he sought to recreate and expand the magic of the SSG days. Here, in his first interview of this type, he shares the entire story.
I found Alan to be a singular force. His team is ridiculously talented, and nobody leaves (they’ve never lost a senior person). They’ve even built a unique pool of capital called Tao that sits atop the rest of the firm…tens of billions that can go anywhere and do anything as a permanent pool of money with no restrictions, other than to earn the highest risk adjusted returns possible. Sounds a lot like SSG.
This was one of my favorite conversations this year. I hope you enjoy. Face the tiger!
Timestamps
0:00 Intro
0:38 The Formative Goldman Sachs Experience
5:58 Unitizing Risk and Return
10:09 Facing the Tiger: Culture and Values
24:55 The Genesis of Sixth Street
34:09 Spotify and Airbnb Investments
37:52 The Flexibility of TAO
41:42 COVID-19: Playing Offense
44:42 Analyzing Risk and Business Models
48:35 Investing in Sports and Live Experiences
54:44 Developing Investment Themes
58:16 Personal Development and Firm Culture
1:19:00 The Future of Sixth Street
1:21:52 The Kindest Thing
We’re excited to announce that Katie O’Reilly and Alex Jorgensen have been promoted to Partners at the firm.
Please join us in congratulating them on this well-deserved achievement!
Learn more below ⬇️
Blue Owl Technology Finance Corp. (OTF) and Blue Owl Technology Finance Corp. II (OTF II) today announced that they have entered into a definitive merger agreement, with OTF as the surviving company, subject to certain shareholder approvals and other customary closing conditions.
We’re proud to share that our Managing Partner Jen Prosek has been recognized once again on @WSJ's CEO Council list of the World’s Most Influential Decision Makers.
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