Reflections on Sportico's Invest in Sports Conference: Insights and Inspirations

I was fortunate to attend Sportico's outstanding Investing in Sports Conference in West Hollywood, where three panels left a profound impression.

The day’s first panel featured Alexis Ohanian, founder of the newly IPOed Reddit, and Neal Hubman, an early Reddit employee with a wealth of captivating stories, also serving as the President of the Los Angeles Golf Club.

As someone who has played golf for as long as I can remember, the TGL league has sparked my excitement. It's a joint endeavor involving the PGA Tour, Tiger Woods, Rory McIlroy, and a sports venture group. This league consists of franchises located in major cities. Notably, the Los Angeles Golf Club roster includes some of the PGA Tour's biggest names: Collin Morikawa, Tommy Fleetwood, Justin Rose, and Sahith Theegala.

The first match will be in January of 2025 and broadcast live on ESPN. While TGL matches will take place in a stadium setting, players will tee off from actual grass and sand on a football-field sized surface, complete with a 64-foot-high and 46-feet wide simulator. Additionally, for short game shots within 50 yards, players will aim at a dynamic putting surface that adjusts to produce different slopes and breaks.

I firmly believe in the saying, "You can't be what you can’t see." Hearing Alexis and Neal recount stories of overcoming obstacles to establish one of the internet's leading sites—currently ranked #7 in US traffic and boasting the longest user duration of any major platform—it's clear that Reddit stands as the most influential online community platform.

While they understood the significance of their creation, witnessing their resolute determination to realize their vision and witnessing it exceed even their loftiest expectations emphasizes the value and substantial rewards of staying dedicated to a vision.

I found it fascinating to hear Neal discuss the early challenges of attracting advertisers, especially considering how advertising has become such a lucrative venture today, generating hundreds of millions annually by effectively targeting its remarkable communities.

Listening to Alexis articulate the importance of community, whether in the context of the internet or any business endeavor, shaped by his leadership at 776 Ventures, his VC fund, underscored the significance of community building.

Especially within the tech industry, where considerable value can stem from pioneering groundbreaking technology, it's equally apparent that fostering a community around a white-labeled technical architecture can yield just as much, if not greater, value. Meta, Reddit, and numerous others have demonstrated that being the first isn't necessary for absolute domination, provided your execution is impeccable.

Appreciated Alexis retweeting my Tweet to his 563,700 Twitter (X) followers, giving my modest following a boost!

The following panel featuring the CEO of SoFi, Anthony Noto, and SoFi Stadium leadership, Kevin Demoff, served as a masterclass on how naming rights can deliver exceptional value to sponsoring companies.

SoFi Stadium, conveniently located for much of the sprawling LA community, serves as an easily accessible venue. Over the next few years, it will host a diverse array of significant sporting events, in addition to the popular Chargers and Rams games. This includes serving as a venue for eight matches during the FIFA World Cup 2026, including the opening match for the U.S. Men's National Team. Additionally, it is slated to host Super Bowl LXI in 2027 and the Summer Olympics in 2028.

I appreciate how Noto framed the $20 million annual licensing as an investment. With each event projected to attract billions of viewers, this will significantly elevate SoFi's visibility into an international brand. Consequently, the stadium sponsorship emerges as one of the most cost-effective advertising strategies in history, despite its high cost.

The third panel featured Christina Francis from Magic Johnson's family office, delving into the success achieved by the Laker Great in investing in historically overlooked communities. While there's a philanthropic drive, it's only sustainable when coupled with a profit-generating aspect that can reinvest capital to further the mission of doing good while also doing well.

Magic Johnson's journey to becoming a billionaire has received significant attention, with his achievements credited to innovative investment approaches. Rather than focusing on traditional areas such as Beverly Hills, commonly favored by family offices aiming to maintain wealth, Johnson is directing his investments towards emerging markets in East or Central LA. These regions, often characterized as food deserts or undergoing gentrification, attract corporations professing commitment to social impact, yet frequently fall short of delivering on their promises.

The family offices I'm involved with view the Johnson family as a prime example of incorporating social considerations into their investments, effectively merging profitability and philanthropy. It was intriguing to hear this topic explored alongside the ongoing evolution of the sports landscape, which has been unfolding since the Lakers era of the 1980s.

Playing basketball with my buddies in the 80s and early 90s was always a unique challenge. As a proud Angeleno, I rooted for Magic, yet couldn't help but admire Bird's precision, particularly from long range. I often found myself torn between playing as a Laker or a Celtic, but ultimately stuck with the Lakers to stay true to my roots. Growing up as a fan, I saw the NBA thrive during the golden era of the Bird-Magic rivalry, witnessing Magic's brilliance shine brightly near Hollywood, where his charisma and generational talent were perfectly showcased.

For those who are committed to meaningful investments in sports, the Sportico Invest in Sports Conference at the luxurious 1 Hotel West Hollywood is an absolute winner.