I had an incredible conversation with the legendary @MagicJohnson on the @a16z podcast discussing his best deals, investing where no one else is looking, and building a sports empire. Grateful for the 10+ years of building together and learning from the 🐐 on and off the court.
Give it a listen 🎙️
Earvin "Magic" Johnson and a16z's Chris Lyons sat down for a conversation on Magic's 30 year journey from athlete to billionaire businessman, including what Magic learned from Michael Ovitz, Magic's investments in Silicon Valley and sports, why athletes should take equity over endorsements, and more.
00:00 Introduction
05:09 How Michael Ovitz became Magic's first business mentor
07:42 The art of deal making and building a Rolodex
17:30 Magic's first Silicon Valley investment: Skydio
27:00 Building a team: Get people smarter than you
29:48 The one that got away: Nike stock in 1979
37:36 Why AI is changing everything
44:36 Sports ownership: Dodgers, Commanders, Sparks, and LAFC
@MagicJohnson@ChrisLyons
46 years ago, Big Bank Hank stole the work of @GrandmasterCaz of The Cold Crush. He stole it so blatantly that Hank did not even bother to change Caz's name in the song, which went on to become Hip Hop's first big hit: Rapper's Delight. At the same time Hank's group The Sugar Hill Gang stole the music for Rapper's Delight from @nilerodgers. Neither original artist was paid or credited. But on Saturday Night, they performed the real version. @paidinfullorg@FeliciaHorowitz
Cookie and I want to congratulate our friends Ben and Felicia Horowitz on announcing they will be building the first children’s only hospital in the state of Nevada! It’s incredible that one health scare with one of their children has turned into a blessing that is certainly going to save the lives of many children and have a tremendous impact on the families within in the Las Vegas community!
“The next big thing will start out looking like a toy.” -Chris Dixon, 2010
Chris is an OG American Dynamism investor. An OG VR investor. An OG robotics investor. The OG crypto investor.
Finally, an OG Fund, only for originals.
Today, Governor Kathy Hochul announced the launch of @joinpursuit AI Jobs Institute, a new training hub in Long Island City, Queens. By 2032, it will serve up to 40,000 New Yorkers and build pathways into AI careers.
It's backed by $10M in public investment from New York State, the Queens Borough President's Office, and NYC partners, plus @Googleorg@OpenAI , @AnthropicAI , @WellsFargo , and others.
I'm honored to join the National Advisory Council as a founding member. It's chaired by former U.S. Secretary of Education Dr. Miguel Cardona, with leaders across government, education, tech, finance, and workforce development.
I've supported Pursuit for years. They help New Yorkers without a degree or a tech network move from low-wage work into six-figure tech careers. AI is creating new jobs faster than training systems can keep up, and the people who usually get passed over should share in the gains. An inclusive AI workforce is 100% the work needed right now.
Excited to help bring this model beyond New York, including Miami and ATL. Congrats to Nick Simmons and the whole Pursuit team!
https://t.co/qu7LYE7uDk
The Strebulaev-Jackson AI Venture Ranking of the top 50 VC firms is now live.
Andreessen Horowitz tops the AI ranking with 22,509 points, about 1.6 times the score of Lightspeed Venture Partners.
I’m very fortunate to work with the team at a16z for my entire entrepreneurial career, and can confidently say their team creates an unfair advantage to turn your vision into reality! Great partners and great ppl
Some of what I learned from Virgil in his last years has stayed with me. Most of it had nothing to do with fashion. It had to do with who gets to build and what happens when the gate comes down. https://t.co/pg8Uei5UWb
We just closed an employee tender offer which values @ElevenLabs at $22BN, up 2x from our Series D in February. The tender was led by Wellington and T. Rowe Price.
A few words on how we got here ↓