Podcast appearances and mentions of Morgan Creek

We're back to talk about ANOTHER prequel to The Exorcist (afilm so nice they had to tell the origin twice), but fortunately, this week Mike and Stephen are here to talk about the good one. Yes indeed, this week we're here to talk about the most expensive DVD feature of all time, the completedvision of Paul Schrader's Dominion: Prequel to the Exorcist. It's the Gallant to Harlin's Goofy, and as one might expect from a Schrader jam, it's a contemplative rumination on man's fallibility and culpability with regards toevil. It's certainly not the rock ‘em sock ‘em straight forward horror movie Morgan Creek anticipated, leading to it being shelved for The Beginning. Perhaps a horror crowd that's been raised on the sort of character studies A24has delivered over the past decade would be more receptive to the quiet character drama and standout performance from its lead Stellan Skarsgard delivered as a conflicted Father Merrin. If you like what you're listening to make sure to subscribewherever you get your podcast feeds. Please take a moment to rate and review us on the ApplePodcast app, or rate us on the Spotify app. Reviews and five star ratings helpnew listeners find us every day, and we greatly appreciate the feedback andsupport. Check out our website for easy access to our full catalog ofshows, with hundreds of hours of free content. You can search the catalog,leave a review and even leave us feedback all from the site. Go to www.podandthependulum.com to checkit out. If you have the means, consider becoming a patron today and support the show.Patreon members get exclusive full length episodes, audio fan commentaries,exclusive mini-sodes and more. Join today at patreon.com/podandthependulum. 

In this episode of HedgeD, we replay the February 13th, 2025 HedgeD, With A Capital “D” webinar featuring Cory Lester of Morgan Creek Capital Management. After back-to-back strong years for equities, what does 2025 have in store for investors? Will equity market returns broaden out following multiple years of leadership from the Magnificent Seven? Are hedge funds poised for another year of solid performance? Which themes are hedge fund managers the most excited about for 2025 and beyond? I address these questions and go into detail about some of the themes Morgan Creek is the most excited about, including Artificial Intelligence, Innovative Healthcare, Chinese Recovery Plays, and Rifle Shot Shorts. I hope you enjoy the discussion, and I invite you to please follow-up with us if you are interested in learning more.  Follow us on Twitter @HedgeD_Podcast   Visit us on the web at https://www.morgancreekcap.com/opportunistic-equity/  Join the HedgeD, With A Capital “D” webinar series by emailing HedgeD@morgancreekcap.com  Subscribe to our YouTube channel by visiting https://www.youtube.com/channel/UC8RssLKui3GNrxlOtYk6jRQ

Culture Clash Live EP. 258: Time Travel Spotlight: "FREEJACK" (1992) & Fandom News & Reviews! Watch the video on the Fandom Podcast Network YouTube Channel: https://www.youtube.com/c/FandomPodcastNetwork On this episode of Culture Clash we return to the Time Travel Spotlight with 1992's "FREEJACK".  Freejack is a 1992 American science fiction film directed by Geoff Murphy and starring Emilio Estevez, Mick Jagger, Rene Russo, and Anthony Hopkins. The screenplay was written by Steven Pressfield, Ronald Shusett and Dan Gilroy, who adapted it from the 1959 science fiction novel Immortality, Inc. by Robert Sheckley. The film was produced by Morgan Creek and released by Warner Bros. in the United States on January 17, 1992. It received mostly negative reviews. Plot Synopsis: Bounty hunters from the future transport a doomed race car driver to New York City in 2009, where his mind will be replaced with that of a dead billionaire. We will also look at the recent Fandom News and Reviews! Let's do this thing! Fandom Podcast Network Contact Info: PLEASE SUBSCRIBE to the Fandom Podcast Network on YouTube! Like and share! https://www.youtube.com/c/FandomPodcastNetwork Our master feed for all of our audio podcasts can be found on Podbean: - https://fpnet.podbean.com/ - The Fandom Podcast Network can stream and download on the Podbean app The Fandom Podcast Network is on all major podcast platforms, which includes: Apple Podcasts / iTunes Contact Information: - Facebook: Fandom Podcast Network - Email: fandompodcastnetwork@gmail.com - Instagram: @FandomPodcastNetwork - X (Twitter): @FanPodNetwork Host & Guests Contact Info On Social Media - Kyle Wagner on X: @AKyleW / Instagram & Threads: @Akylefandom / @akyleW on Discord / @Ksport16: Letterboxd - Kevin Reitzel on X, Instagram, Threads, Discord & Letterboxd: @spartan_phoenix - Lacee Aderhold on X: @LaceePants / Instagram: @thelaceepants / Letterboxd: @Laceepants. #CultureClash #CiltureClashLive #TheFandomPodcastNetwork #FPNet #FPN #TimeTravel #TimeTravelSpotlight #TimeTravelTropes #TimeTravelMachine #Freejack #Freejack1992 #FreejackMovie #Geoff Murphy  #EmilioEstevez #MickJagger #ReneRusso #AnthonyHopkins #ImmortalityInc #ImmortalityInc1959 #StevenPressfield #RonaldShusett  #DanGilroy #KevinReitzel #KyleWagner #LaceeAderhold

In this episode of HedgeD, we replay the September 19th, 2024 HedgeD, With A Capital “D” webinar featuring John Yetimoglu of Infinitum Partners in conversation with Mark Yusko and Cory Lester of Morgan Creek Capital Management. Although still an emerging manager, Morgan Creek believes Infinitum and John possess some of the hallmarks of a hedge fund manager that could one day become an industry leader. Mark and Cory discuss several topics with John, including Artificial Intelligence (“AI”), opportunities within AI such as Inference, and one of the companies in Inference – Groq. We hope you enjoy the discussion, and we invite you to please follow-up with us if you are interested in learning more.  Follow us on Twitter @HedgeD_Podcast   Visit us on the web at https://www.morgancreekcap.com/opportunistic-equity/  Join the HedgeD, With A Capital “D” webinar series by emailing HedgeD@morgancreekcap.com  Subscribe to our YouTube channel by visiting https://www.youtube.com/channel/UC8RssLKui3GNrxlOtYk6jRQ

In this episode of HedgeD, we replay the September 19th, 2024 HedgeD, With A Capital “D” webinar featuring John Yetimoglu of Infinitum Partners in conversation with Mark Yusko and Cory Lester of Morgan Creek Capital Management. Although still an emerging manager, Morgan Creek believes Infinitum and John possess some of the hallmarks of a hedge fund manager that could one day become an industry leader. Mark and Cory discuss several topics with John, including Artificial Intelligence (“AI”), opportunities within AI such as Inference, and one of the companies in Inference – Groq. We hope you enjoy the discussion, and we invite you to please follow-up with us if you are interested in learning more.  Follow us on Twitter @HedgeD_Podcast   Visit us on the web at https://www.morgancreekcap.com/opportunistic-equity/  Join the HedgeD, With A Capital “D” webinar series by emailing HedgeD@morgancreekcap.com  Subscribe to our YouTube channel by visiting https://www.youtube.com/channel/UC8RssLKui3GNrxlOtYk6jRQ

With the U.S. Securities and Exchange Commission's (SEC) approval of the Bitcoin Spot ETF in January 2024, Catholic institutions now have the opportunity to make Bitcoin part of their investment portfolio. Mark Yusko is a highly respected and sought-after voice on Bitcoin. He is a devoted Catholic, and he spoke at the 2022 Catholic Crypto Conference. Mark answers many questions CEOs of Catholic institutions need to be asking, like, What is the value of Bitcoin? How does it bring truth? How does it align with the Church's values? What percentage of my portfolio should be in Bitcoin? Mark shares his personal journey in Bitcoin and discusses these questions in great detail during this interview. Whether you're a "Bitcoin bull" or a "newbie" to this space, this conversation sheds light on the Bitcoin adoption that is happening worldwide. Mark W. Yusko is the Founder, CEO and Chief Investment Officer of Morgan Creek Capital Management, LLC. Prior to forming Morgan Creek in 2004, Mr. Yusko was President, Chief Investment Officer and Founder of UNC Management Company, the Endowment investment office for the University of North Carolina at Chapel Hill, from 1998 to 2004. Until 1998, Mr. Yusko was the Senior Investment Director for the University of Notre Dame Investment Office where he joined as the Assistant Investment Officer in October of 1993. Mr. Yusko is the President and Chairman of the Investment Committee of The Hesburgh-Yusko Scholars Foundation at the University of Notre Dame, and President and Head of Investment Committee of the Morgan Creek Foundation. https://youtu.be/9BgrdRMQttE Recorded April 2024 Daily Spiritual Reflection and Prayers on “Kristin's Crosses” Join Jim and Kristin Friend and their family on Kristin's Crosses YouTube Channel for “Today's Catholic Prayers.” Jim and Kristin offer the daily Gospel and Reflection along with the Rosary and Catholic Prayers of the day. Click here to visit the YouTube Page and subscribe. If you would like to join the Kristin's Crosses prayer group on Facebook, click here to request to join.

In this episode of HedgeD, we replay the January 25th, 2024 HedgeD, With A Capital “D” webinar featuring Chris Hansen of Valiant Capital Management. Prior to starting Valiant in 2008, Chris was a partner at Blue Ridge Capital where he worked beside and trained under legendary hedge fund investor John Griffin. In this conversation, Mark Yusko and Cory Lester from Morgan Creek discuss a variety of investment topics and themes with Chris, including long/short equity, artificial intelligence, the anti-obesity market, India and biotech. Chris is an old school long/short equity manager that has invested across various market cycles throughout his nearly three-decade long career. We hope you enjoy his insights on the current market environment and his comments about the prevailing opportunity set.  Follow us on Twitter @HedgeD_Podcast   Visit us on the web at https://www.morgancreekcap.com/opportunistic-equity/  Join the HedgeD, With A Capital “D” webinar series by emailing HedgeD@morgancreekcap.com  Subscribe to our YouTube channel by visiting https://www.youtube.com/channel/UC8RssLKui3GNrxlOtYk6jRQ

While Renny Harlin had a film in theaters, Paul Schrader was running his hands together. After having his Exorcist prequel literally taken away from him by James G Robinson and everyone else at Morgan Creek, Harlin's Exorcist The Beginning was proving to be a gamble that didn't pay off. So, with receipts not what they expected, Schrader was given an extra $35,000 by Morgan Creek to spice up his film and get it ready for release a year later in hopes of getting their investment back. The result is Dominion Prequel To The Exorcist. With star Stellan Skaarsgard proving to be the only cast member that was held over, Schrader saw his film released and…suffer much of the same fate as Exorcist The Beginning. Listen in as the boys review the first (and only?) Paul Schrader film for the Three Men and a Retrospective Podcast, and determine whether Dominion Prequel To The Exorcist is just as big a turkey as last week's film, or if it's an overlooked gem. And be sure to tune in next week as Garrett, Matt, and Mik put the finishing rites on this series (for now) and review the recently released David Gordon Green take on the franchise The Exorcist: Believer!

While Renny Harlin had a film in theaters, Paul Schrader was running his hands together. After having his Exorcist prequel literally taken away from him by James G Robinson and everyone else at Morgan Creek, Harlin's Exorcist The Beginning was proving to be a gamble that didn't pay off. So, with receipts not what they expected, Schrader was given an extra $35,000 by Morgan Creek to spice up his film and get it ready for release a year later in hopes of getting their investment back. The result is Dominion Prequel To The Exorcist. With star Stellan Skaarsgard proving to be the only cast member that was held over, Schrader saw his film released and…suffer much of the same fate as Exorcist The Beginning. Listen in as the boys review the first (and only?) Paul Schrader film for the Three Men and a Retrospective Podcast, and determine whether Dominion Prequel To The Exorcist is just as big a turkey as last week's film, or if it's an overlooked gem. And be sure to tune in next week as Garrett, Matt, and Mik put the finishing rites on this series (for now) and review the recently released David Gordon Green take on the franchise The Exorcist: Believer!

For what it's worth, The Exorcist II The Heretic should have sank the franchise forever. Not many horror movie series recover from being laughed off the screen. But, what Warner Brothers didn't want, Morgan Creek did. James G Robinson was now in control of the franchise, and what he wanted was another Exorcist film. But author William Peter Blatty did not want to do a movie version of his book Legion and sell it as The Exorcist III. Not after The Heretic's bad taste was still lingering. But Robinson was insistent. And after both original director William Friedkin and horror maestro John Caroenter both turned the project down, Blatty figured he should just do it himself. The result is one of the most under appreciated at the time release in horror history. While it wasn't laughed at like its predecessor, The Exorcist III was not embraced upon its release. Listen to Garrett, Matt, and Mik discuss whether this was reception was warranted. And come back next week as they reconvene to talk about director Renny Harlin's Exorcist: The Beginning!

For what it's worth, The Exorcist II The Heretic should have sank the franchise forever. Not many horror movie series recover from being laughed off the screen. But, what Warner Brothers didn't want, Morgan Creek did. James G Robinson was now in control of the franchise, and what he wanted was another Exorcist film. But author William Peter Blatty did not want to do a movie version of his book Legion and sell it as The Exorcist III. Not after The Heretic's bad taste was still lingering. But Robinson was insistent. And after both original director William Friedkin and horror maestro John Caroenter both turned the project down, Blatty figured he should just do it himself. The result is one of the most under appreciated at the time release in horror history. While it wasn't laughed at like its predecessor, The Exorcist III was not embraced upon its release. Listen to Garrett, Matt, and Mik discuss whether this was reception was warranted. And come back next week as they reconvene to talk about director Renny Harlin's Exorcist: The Beginning!

Catch up with ALLISON INTERVIEWS Host, Allison Kugel: Follow on Instagram - https://www.instagram.com/theallisonkugel/ Allison Interviews Blog - allisoninterviews.com Allison's Memoir on entertainment journalism and mental health: https://shorturl.at/rIUW2 Tommy Davidson's exceptional range – from stand-up comedy and acting to versatile music accomplishments – have earned him a reputation as an extraordinary performer who delivers no matter the arena. Best known as one of the stars of the hit television show In Living Color, Davidson's visibility has allowed him to become a household name known for his innovative talent across all platforms.  Davidson starred in Disney Channel's beloved animated series The Proud Family (2001-05) and recently returned to topline their new hit, “The Proud Family: Louder and Prouder” (Disney +) wit season 2 premiering February 1, 2023. Other recent guest starring credits include CBS comedy series The Neighborhood, VH1's hit A Black Lady Sketch Show; the Nick Cannon-directed Miracles Across 125th Street, BET+'s The Ms. Pat Show and the Netflix special Sarah Cooper: Everything's Fine.  The multihyphenate is perhaps best known for starring in the groundbreaking sketch comedy series In Living Color and becoming a standout with his impressions of Sammy Davis Jr., Michael Jackson and other entertainment icons. His performance on the series resulted in three Showtime specials: On Strength of New York, Illin' in Philly, and Takin' it to DC. Davidson also hosted and starred in the network's Chocolate Sundaes Comedy Show, as well as three seasons of ABC's Vacation Creation.  Davidson voiced the series regular role of Cream Corn in the Adult Swim action-comedy spoof Black Dynamite, and has also made multiple guest appearances on shows like MTV's Wild ‘N Out, BET's Real Husbands of Hollywood and ABC's Celebrity Wife Swap. He also recently headlined The Off Color Comedy Tour with Keenan Ivory Wayans, Shawn Wayans and David Alan Grier, and co-headlines with Katt Williams, Mike Epps and Martin Lawrence to sell out large venue audiences. Davidson's film credits include Spike Lee's Bamboozled, Morgan Creek's Juwanna Mann, Ace Ventura II: When Nature Calls opposite Jim Carrey, and Strictly Business opposite Halle Berry among others. He also recently starred in the feature documentaries I Am Comic opposite Tim Allen and Lewis Black, and Dying Laughing alongside Jamie Foxx, Kevin Hart, Amy Schumer and Sarah Silverman His recent critically lauded music duets include Sweet Reunion with multi-Grammy winner Dave Koz, I Know with A-list saxophonist, Richard Elliott. He just finished his third single, Stronger, with one of the greatest bands in the history of music, Earth Wind & Fire due for release next month. Kensington Books published Davidson's memoir Living in Color: What's Funny About Me, recounting his personal triumphs after having been abandoned as in infant in 2020 achieving historic sales.  Tommy Davidson's Links Website: https://www.thetommydavidson.com/ Instagram: https://www.instagram.com/therealtommycat/ Amazon: http://bit.ly/48VAcwP Subscribe to the audio podcast of Allison Interviews on Apple Podcasts and Spotify, and subscribe to the video podcast on YouTube. :-) Learn more about your ad choices. Visit megaphone.fm/adchoices

“If it's Exorcist: The Beginning… let's get some background on Pazuzu! What's he up to? What was his deal?” - Steve  On this episode, the 2023 Halloween Spooktacular continues with a convo about the stunningly terrible prequel Exorcist: The Beginning! How bad are all these CGI landscapes? Why did they think an Exorcist film needed so many extreme gore-hound moments? Was that side-boob necessary? And really, Morgan Creek should have let Schrader finish his film with an appropriate budget and called it a day! PLUS: Your ears are not ready for the “Tubular Bells” knock-off at the end…  Exorcist: The Beginning stars Stellan Skarsgård, Izabella Scorpio, James D'Arcy, Remy Sweeney, Julian Wadham, Andrew French, Ralph Brown, Ben Cross, Alan Ford, Eddie Osei, and David Bradley as Father Gionetti; directed by Renny Harlin. Want more WHM? Join our Patreon fam today and instantly unlock hours and hours of exclusive bonus content, including Ad-Free WHM Prime at the $8 level and up! Be sure to get in early and get your tickets for the WHM Holiday Extravaganza where we're talking The Santa Clause! Check out the WHM Merch Store featuring new Polish Decoy, ‘Jack Kirby', and Forrest the Universal Soldier designs! Today's episode is brought to you in part by Nutrisense! To start decoding your body's messages and pave the way for a healthier life, visit  NUTRISENSE DOT COM SLASH WHM and get $30 off your first month and one month of board certified nutritionist support as well. When they ask how you learned about Nutrisense make sure to tell them it was the We Hate Movies podcast!

In this podcast, Mark Yusko and Frank Tanner from Morgan Creek's Venture team connect with Tim Draper, a prominent venture capitalist, who shares his career journey and insights. Draper delves into his early passion for entrepreneurship and the inception of his venture capital firm. Further, he discusses the venture capital landscape in the 1980s, his investment strategies, and successes investing in emerging technology, like his early investments in Parametric Technology (computer software) and web-based email service provider Hotmail. In addition, Draper shares his unique approaches to venture capital, emphasizing curiosity, risk-taking, and a "what if it works" mindset. To learn more, visit us on the web at https://www.morgancreekcap.com/morgan-creek-digital/. To speak to a member of our team or sign up for other content, please email mcdigital@morgancreekcap.com

Investing legend Mark Yusko has a seasoned career at Morgan Creek prior to that he worked on the endowments at UNC and Notre Dame. Mark is a deep thinker and strategist when it comes to investing in the new era of digital currencies. There is a lot of opportunity and challenges ahead. If you want to navigate the choppy waters, listen to this episode where we find out what Mark sees that we do not. For more information, visit the show notes at https://moneytreepodcast.com/mark-yusko-new-era-digital-currencies Today's Panelists: Kirk Chisholm | Innovative Wealth Barbara Friedberg | Barbara Friedberg Personal Finance   Follow on Facebook: https://www.facebook.com/moneytreepodcast Follow LinkedIn: https://www.linkedin.com/showcase/money-tree-investing-podcast Follow on X (formerly Twitter): https://x.com/MTIPodcast  

Join us on episode 244 as we delve into the exciting world of blockchain gaming with our special guest from Horizon Blockchain Games. Backed by industry giants like Brevan Howard Digital and Ubisoft, Horizon is at the forefront of revolutionizing the gaming ecosystem. Our guest, Michael Sanders, co-founder of Horizon Blockchain Games, will take us on a journey through the potential of web3 and its impact on the gaming industry. Michael is a dynamic storyteller who has a unique ability to connect the dots and make complex concepts understandable. His passion for blockchain technologies sparked in 2010, and since then, he has immersed himself in the industry as an investor in cryptocurrencies and related startups. With a diverse background, including co-founding a clean energy startup, serving as VP of an advertising agency, and even exploring transformational dance and sound therapy, Michael brings a breadth of experience to the table. He is also an accomplished author, known for his best-selling book, Ayahuasca: An Executive's Enlightenment. Living a life of love, openness, and play, Michael is dedicated to infusing web3 and the emerging dimension with these same values. Horizon Blockchain Games is a video game studio and blockchain infrastructure company that is paving the way for seamless integration and development in the blockchain gaming space. With their recent Series A funding round, led by Brevan Howard and Morgan Creek, and participation from Ubisoft and Take-Two Interactive Software, Horizon is positioned as a leading force in the industry. With their all-in-one web3 developer platform and smart wallet called Sequence, Horizon is fast-tracking the process of developing web3 games on blockchain-compatible platforms like Ethereum. We'll explore the benefits of blockchain technology for gaming and how web3 has the power to shape the future of the industry. Discover the challenges and opportunities in developing web3 games, as well as the shift from play-to-earn to play-and-earn models. Horizon's proof-of-concept technology and tangible gaming experiences showcase the unique possibilities that blockchain and web3 technologies bring to the table. Don't miss this captivating conversation as we discuss the gaming and web3 outlook, including what's currently available in the market. Join us as we dive into the world of blockchain gaming and uncover the exciting innovations that Horizon Blockchain Games has to offer. Tune in to The Blockchain Show and embark on a fascinating exploration of the future of gaming with Horizon Blockchain Games and their visionary co-founder, Michael Sanders.

The S&P 500 and Nasdaq snap three-day losing streaks. BD8 Capital's Barbara Doran and Citi's Scott Chronert break down the market action, plus a discussion on why the regional bank ETF KRE is falling again. Is Blackrock's bitcoin ETF a wolf in the henhouse? Morgan Creek's Mark Yusko discusses if it is good or bad for the cryptocurrency. Betterment CEO Sarah Levy on where retail is positioned. Nuveen's Carly Tripp on under-the-radar opportunities in the real estate sector. Plus, Cleo Capital's Sarah Kunst on how the FTC's big tech battle impacts small tech firms. 

In this episode of HedgeD, we have on one of our favorite China experts – Morgan Creek's very own Nic Lee. Nic has been at “The Creek” for the better part of two decades and during his tenure has spent the vast majority of his time in private markets focused on China. He brings a wealth of knowledge and perspective to the conversation and attempts to address the overhanging question on many investors' minds right now – Is China investable? Like us, we hope you come away from this episode as excited about the prevailing opportunity set in China as we are.  You can @ us on Twitter @HedgeD_Podcast or email us directly at HedgeD@morgancreekcap.com   Visit us on the web at https://www.morgancreekcap.com/opportunistic-equity/  Join our almost monthly HedgeD, With A Capital “D” webinar series by emailing HedgeD@morgancreekcap.com  And subscribe to our YouTube channel by visiting https://www.youtube.com/channel/UC8RssLKui3GNrxlOtYk6jRQ

Gareth and Andy are spending time with the film so nice they made it twice as they take on not one but two Exorcist prequels. That's right, Morgan Creek took one look at Paul Schrader's Dominion and called the only man they knew that could salvage this interesting but flawed meditation on man's evils and post-war faith— Deep Blue Sea's Renny Harlin. But do either of these films light the way to God or are these demons too much for our souls to bear? Listen on to find out!

Morgan Creek joins me to share the powerful story of losing her twin daughters to a rare genetic mutation called HECW2. She shares about her daughters' diagnoses, her family's grieving process, and how this experience has changed her own platform.  Episode At A Glance: This week on The SavvyCast, Morgan Cheek of @seedsandleaven joins me to share her powerful testimony. Morgan and her husband had twin girls who were diagnosed with HECW2. HECW2 is an incredibly rare genetic mutation, and her girls were two of only seven children in the world to have it at the time. In this episode, Morgan shares about grieving her twin daughters, the process of adopting her son, and how she began WinMo Fitness to help people cope with trauma while building a healthy lifestyle. Who Is Morgan Cheek? Morgan Cheek is the author of three books, the latest being Even In Darkness. She is the co-owner of WinMo Fitness, an online fitness company that specializes in fitness programming, nutrition coaching, and coaching accountability. Morgan has her Master's in Social Work, and WinMo Fitness also partners with studios and retreat centers to do conferences that focus on the mind/body connection and how the power of movement can tremendously help with trauma and stress. She and her husband, Hugh, have three children- two in heaven, Bailey Grace (6) and Ally (7), and one on earth, James (who was adopted from China at the age of 7 and is now 11). Morgan is passionate about helping people believe they are already loved and accepted by God as is. She longs to help others understand how to live their best, authentic lives in the midst of all seasons. Additionally, Morgan is an endurance athlete who loves any kind of physical challenge. You won't ever come to her house without finding several candles lit-and probably her latest baking project, too. Questions Answered In This Episode: What is HECW2? Did Morgan have any help when caring for her twin girls? What was the adoption process like for adopting their son? What symptoms did her twins experience as a result of HECW2? When Bailey Grace passed, did Morgan know that Ally was also going to pass? What has the grieving process been like for the entire family? How has Morgan's platform changed over time and what is it like now? What is WinMo Fitness and how did it come to be? How has fitness been a coping mechanism for Morgan? How can listeners connect with WinMo Fitness? Resources Mentioned In This Episode: On Milk and Honey: How God's Goodness Shows up in Unexpected Places Are We There Yet?: One Sojourner's Journey Through Dross Consumed and Gold Refined Even in Darkness: A Guided Grief Journal and Daily Devotional to Uncover Raw Authenticity During Grief, Loss, and Depression WinMo Fitness Instagram:@seedsandleaven and @winmofitness I hope you enjoyed this episode! As always, if you have time to rate, review and subscribe to The SavvyCast on Apple Podcasts, it would be SO appreciated! If you would prefer to watch the podcast interview, check it out on Youtube. Blessings to you!!! If you like this podcast, check these out:  Emily Hutchinson Shares Her Story of Love, Loss, and Becoming a Beloved Baking Influencer Andrew Ryan's Testimony: Overcoming Church Hurt, Sexual Abuse, and Alcoholism

Mark Yusko (@MarkYusko), founder and CEO of Morgan Creek Capital Management, which manages close to $2 billion in assets, joined Julia La Roche on episode 65. In this episode, Yusko, a long-time macro investor, frames up the current macroeconomic backdrop and why we're on the precipice of what he calls the Global Financial Crisis II as banks fail and jitters spread throughout the financial system. As Yusko puts it, “calm is the edge we need” as the crisis worsens. Yusko was the CIO and Founder of UNC Management Company (UNCMC), the Endowment investment office for the University of North Carolina at Chapel Hill. Before that, he was Senior Investment Director for the University of Notre Dame Investment Office. Yusko has been at the forefront of institutional investing throughout his career. An early investor in alternative asset classes at Notre Dame, he brought the Endowment Model of investing to UNC, contributing to significant performance gains for the Endowment. The Endowment Model is the cornerstone philosophy of Morgan Creek, as is the mandate to Invest in Innovation. In this episode, Yusko provides a deep dive into the Endowment Model, which takes advantage of time-horizon arbitrage. He also delves into the mandate of investing in innovation, sharing an example of a half-a-million-dollar investment that turned into a $200 million return thanks to Sequoia's early bet in Google on behalf of Notre Dame. Yusko points out that the greatest wealth is created by being an early investor. However, making that investment requires believing in something before most people understand it, making you mocked, ridiculed, and criticized for your non-consensus action. Today, he continues to see that opportunity in blockchain technology, digital currency, and digital assets. He is again at the forefront of institutional investing through Morgan Creek Digital Assets, which was formed in 2018 to invest in these opportunities. 0:00 Intro  3:08 The Endowment Model  4:08 Taking advantage of time-horizon arbitrage 6:47 What else makes the Endowment Model unique? 8:00 Equity 10:20 Greatest wealth is created by being an early investor in innovation   12:08 Mark's background 13:33 Dialogue and debate through active listening 16:00 Lessons investing in bonds 19:00 A-ha moment in venture capital  20:00 Investing in Sequoia early  21:19 Being a journalist might be the best training for investing  22:08 Half-a-million investment turns to $200 million thanks to Google investment  25:30 Living the path of technological innovation  30:40 The Truth Net explained 32:44 Macro backdrop  34:19 Liquidity drives markets  35:55 Fractional reserve banking  39:00 Banking system driven by liquidity 41:20 Satoshi Nakamoto's Bitcoin 2009 white paper  44:00 Digital asset innovation  47:00 Bitcoin as a digital store of value 50:15 A better system  51:00 Duration mismatch in the banking system  55:00 Impact of money printing  57:16 Bitcoin  58:49 Money printing doesn't create wealth  1:01:10 On the precipice of GFC II  1:07:00 Chance meeting with Howard Marks 1:14:30 Blockchain is an Operating System

In this episode, we replay the November 9th HedgeD, With A Capital “D” and Around The World With Yusko combined webinars. Mark Yusko leads a follow-up conversation with Morgan Creek's Cory Lester and Andrew Schmeelk in which they provide a sneak peak of some of their top themes and ideas heading into the year ahead. They touch on a variety of topics in Emerging Markets, Technology and Healthcare. Now, sit back, relax and enjoy the show.      You can @ us on Twitter @HedgeD_Podcast or email us directly at HedgeD@morgancreekcap.com    Visit us on the web at https://www.morgancreekcap.com/opportunistic-equity/   Join our almost monthly HedgeD, With A Capital “D” webinar series by emailing HedgeD@morgancreekcap.com   And subscribe to our YouTube channel by visiting https://www.youtube.com/channel/UC8RssLKui3GNrxlOtYk6jRQ

Guilty Pleasures dials into all 666 channels of the 1992 hidden gem, Stay Tuned! You want puns? You got 'em! We sing the praises of John Ritter, Pam Dawber, Eugene Levy (but NOT Jeffrey Jones) and the whole Morgan Creek canon. It's a wild ride you do not want to miss! Featuring - Lou Hare, Courtney Enlow, Sara & Jeremy Goeckner E-mail the show: guiltypleasuresfrn@gmail.com Follow Lou & the show on Twitter (for now): @thefakelouhare & @FRNGuilty  

Download the episode Guilty Pleasures dials into all 666 channels of the 1992 hidden gem, Stay Tuned! You want puns? You got ’em! We sing the praises of John Ritter, Pam Dawber, Eugene Levy (but NOT Jeffrey Jones) and the whole Morgan Creek canon. It’s a wild ride you do not want to miss! Featuring – … Continue reading Stay Tuned →

In this episode, we replay the September 29th HedgeD, With A Capital “D” and Around The World With Yusko combined webinars. Mark Yusko leads Cory Lester and Andrew Schmeelk through a thoughtful conversation about what's wrong with the traditional 60/40 portfolio of stocks and bonds. Additionally, they discuss potential opportunities in the Chinese equity market. We hope you enjoy this dynamic and engaging episode, and, as always, we would love to hear what you think. You can @ us on Twitter @HedgeD_Podcast or email us directly at HedgeD@morgancreekcap.com  Visit us on the web at https://www.morgancreekcap.com/opportunistic-equity/ Join our almost monthly HedgeD, With A Capital “D” webinar series by emailing HedgeD@morgancreekcap.com And subscribe to our YouTube channel by visiting https://www.youtube.com/channel/UC8RssLKui3GNrxlOtYk6jRQ

The Exorcist III is a 1990 American psychological horror film written and directed by William Peter Blatty. It is the third installment in the Exorcist series, an adaptation of Blatty's Exorcist novel Legion (1983), and the final installment in Blatty's "Faith Trilogy". Joining me is guest cohost Bob Rose! For all things Bob Rose and Thundergrunt: https://linktr.ee/thundergruntbob 1000 stickers for $79 ONLY at this link www.riotstickers.com/frumess - the best in the business! JOIN THE PATREON FOR LESS THAN A $2 CUP OF COFFEE!! https://www.patreon.com/Frumess

Mark Yusko brings on guests Cory Lester and Andrew Schmeelk, Managing Directors at Morgan Creek and hosts of the HedgeD Podcast, to discuss the challenges the macro global economy has faced this year, how the 60/40 portfolio has fared in the current environment, and the effects of some of the Fed's recent decisions. They also share wisdom on long-term keys to success. To hear more from Cory and Andrew, you can subscribe to the HedgeD With A Capital “D” YouTube channel by visiting https://www.youtube.com/channel/UC8RssLKui3GNrxlOtYk6jRQ or email them directly at HedgeD@morgancreekcap.com with any questions or comments. You can also follow them on Twitter at HedgeD_Podcast or join join our monthly HedgeD, With A Capital “D” monthly series by emailing HedgeD@morgancreekcap.com.   Want more? Watch the “Around The World With Yusko” webinar series live by contacting us at ir@morgancreekcap.com. Watch it after the fact at https://www.morgancreekcap.com/market-commentary/#investment-themes. Visit us on the web at https://www.morgancreekcap.com   Legal Disclaimer This podcast should not be construed as investment advice nor solicitation for the sale of any security, advisory or other service. Investment themes and ideas discussed may be owned by funds managed by the host and podcast guests. Any conflicts at the time of production have been mentioned by the host, but are subject to change. Listeners should consult their personal financial advisors before making any investment decisions. 

Spooky Season rolls on as Not A Bomb tackles one of the most fascinating film productions of all time, 2005's supernatural thriller - Dominion: The Prequel to The Exorcist. After a disastrous screening with the studio, Morgan Creek then went on to retool Dominion. In essence, the studio hired a new director, replaced a big portion of the cast, spent $50 million dollars to reshoot a majority of scenes and eventually released it as Exorcist: The Beginning. The reason for this insanity? The producers and studio heads felt Dominion lacked the scares to carry the Exorcist name. The gang brings back Jose from the Watch/Skip+ podcast to help breakdown Dominion's themes of questioning faith, the evils of man, and moral angst. Don't worry, there are still plenty of jokes about cartoon hyenas and horse teeth as well as Troy mispronouncing a majority of the filmmakers' last names. This episode sounds intellectual, but it maintains the same goofiness you've come to expect from the hosts.Timestamps: Intro - (0:53), Production and Development - (13:35), Box Office Results and Critical Response - (24:48), Behind the Camera - (33:34), In Front of the Camera - (55:02), Break - (63:37), Dominion Discussion - (66:00), Is it a Bomb? - (106:45), Exorcist: The Beginning Warning - (111:23), Listener Feedback - (129:33), Outro - (140:54)Dominion: The Prequel to The Exorcist is directed by Paul Shrader and stars Stellan Skarsgard, Gabriel Mann, Clara Bellar, Billy Crawford, and Ralph Brown.Exorcist: The Beginning is directed by Renny Harlin and stars Stellan Skarsgard, James D'Arcy, and Izabella Scorupco.If you want to leave feedback or suggest a movie bomb, please drop us a line at NotABombPod@gmail.com. Also, if you like what you hear, leave a review on Apple Podcast.If you want to hear more of Watch/Skip+, make sure you subscribe to here - Watch/Skip+ • A podcast on Anchor. Cast: Brad, Troy, Jose

This week, we have our first Podcast guest, Writer/Director Rob Cohen. Rob has written and directed for shows like The Simpsons, Wonder Years, The Ben Stiller Show, MAD TV, SNL, Just Shoot Me, Maron, Big Bang Theory & Black-ish. Join Michael Jamin and Rob Cohen as they discuss their careers, breaking in, and what it means to have a long, fruitful career in Hollywood.Show NotesMichael's Online Screenwriting Course - https://michaeljamin.com/courseFree Screenwriting Lesson - https://michaeljamin.com/freeJoin My Watchlist - https://michaeljamin.com/watchlistRob Cohen on IMDB - https://www.imdb.com/name/nm0169712/Transcripts are Auto-GeneratedRob Cohen:Just shoot Me was in the nineties. And if you said NBC in the nineties had so many comedies, some were good, and some were terrible. But now, if you look at NBC, are they doing any comedies? Like maybe two?Michael Jamin:Yeah, maybe. Yeah.Rob Cohen:Yeah. So, so it's the same place, but it's the, the tide is clear. So for somebody to aspire to working on wacky old-timey NBC comedies, it's very foolish. However, if they are a self starter and, and determine what their roadmap is, nobody will stop them. You can't guarantee success, but at least you've tried it and you might be successful trying it and pursue what you like.Michael Jamin:Right. You're listening to Screenwriters Need to Hear This with Michael Jam. Hey everybody, welcome to Screenwriters. Need to hear this. My name is Michael Jamin and Phil is not here with us today, but I have a special guest. This is our first time ever having a guest on, on our podcast. And I'm absolutely thrilled that it's, you know, in Hollywood. People say this is my good friend, My, but it's true. Rob, you're my good friend and thank you.Rob Cohen:You're my goodMichael Jamin:Friend. Yeah. . And so it's nice to actually have a good friend kick off my guest on the show. So let me introduce you. This is Rob Cohen, Writer, Director, and I'm gonna scroll through some of your credits so people know who you are. And and I'm sorry, I'm, I'm only gonna do some of the highlights that I think I'm gonna leave out. Probably the someone's I, because you had, Rob has a huge resume and you're a writer and a director, but you started andRob Cohen:Some of it is good.Michael Jamin:And for, for those of you wanna make a, a visualization. Rob also worked on one of your early jobs was The Simpsons and the character of Millhouse was Rob modeled after him. So Rob is picture Millhouse now older and sadder. So, and also Rob's Canadian. So I wanna talk about how a Canadian breaks into the business. Sure. The whole language barrier, how you learned English. Right. I wanna learn how weRob Cohen:Figured out Yeah. How the machines work so we could Yeah.Michael Jamin:I know you drove a dog sled growing up and now, now you drive a car. So stuff like that. Thank you.Rob Cohen:Thank YouMichael Jamin:Thank you. So let's begin. Rob's, I guess your first staff job, I guess was the Naked Truth, your big one?Rob Cohen:No, my very first staff job full time was the Ben Stiller show.Michael Jamin:Oh, right. Will you go back even further than that? Bend Stiller. Right. And you also did Mad tv. Hold on. Your credits are crazy good. Like you have a huge list of credits. Naked Truth work with me, I met you on, well I think I knew you before that, but just shoot me work. You work together, right? Bet, bet. Midler show. Yes. According to Jim. Mm-Hmm. , according to your credits, you are on, According to Jim. Right. the Jamie Kennedy experiment. Was that a show or an experiment? Rob?Rob Cohen:That was an experiment. That became a show on the wv.Michael Jamin:See Dots? I don't know what that is. It'sRob Cohen:A amazing, That was a pilot for nbc. Yeah.Michael Jamin:Oh, Pilot. How did you get that in there? Father of the Pride? You remember that, that animated show American Dad? I've heard of that one. Yep. Big Bang Theory. Heard of that one. Mm-Hmm. , 20 Good Years. Mm-Hmm. , our friend Marsh McCall created that show. Mm-Hmm. Emily's reasons why not. Mm-Hmm. fascinating.Rob Cohen:You're really combing through all theMichael Jamin:I'm on IMDB.Rob Cohen:Yeah, of course.Michael Jamin:There's more Life In Times of Tim, which was a riot that, that animated show Maron, which we brought you back. We hired you to be a writer and director on that. We're gonna talk about that. Yeah, sure. Lady Dynamite with our friend Pam Brady. Mm-Hmm. I don't know companies. I don't, I don't know. So I'm skipping over the, But you also have your own show called Hanging with Dr. Z. We're gonna talk about that. And then, But directing credits are also crazy. I mean, really I'm all them. Well, well you're, you're, you're good looking. Thanks. Let's go over some of them. Sure. Obviously you did a, you did a bunch of Marons. Yeah. Mystery Science Theater, 3000. You did some Lady Dynamites. Yeah. You did Blackish. Mm-Hmm. Stand Against Evil, Speechless. Bless this Mess. Superstore, you directed mm-hmm. The Goldbergs, you directed. Mm-Hmm. Interesting. told that Mo You are, And then most recently, somebody somewhere, which I, I talk about that a lot cause I love the pilot of that. And I just love that show. You directed five episodes of thatRob Cohen:Damn right. Seven,Michael Jamin:Seven. We have to update your IMDB. Yeah,Rob Cohen:Yeah.Michael Jamin:Let's start at the beginning. Cuz a lot of people ask me this and I have no answer. How does a Canadian start work in this country? Like, there are lawsRob Cohen:There are laws and I mean, I know that Americans are all about purity. So I will say that Canadians, they're almost like Americans. It's almost like we live next door to you guys,Michael Jamin:South or north of us.Rob Cohen:I, I don't know, , I don't know. But I didn't have any aspirations to get into showbiz or even come to the United States. So I didn't know that it was a, it was all a fluke. The whole thing was a fluke. I can certainly condense the journey.Michael Jamin:Let's hear it.Rob Cohen:The fast version is I was a bit of a scam as a young man and was encouraged to live on my own at a young age. And so I lived on my own and I was just a complete screw up. And I grew up in Calgary and had no future whatsoever.Michael Jamin:You were encouraged to live on your own at what age?Rob Cohen:15.Michael Jamin:Why? You were, you were a handful for your parents.Rob Cohen:I was a handful because my dad had gotten remarried and the mix was not the greatest mix. So there were two opinions on how things should work in that situation. I was of one opinion andMichael Jamin:TheRob Cohen:Back was of another.Michael Jamin:But looking back on it, do you realize, Do, are you, do you feel like you were wrong as a 15 year old? Or do you like No, I was right.Rob Cohen:You were right. I was absolutely right. Interesting. Absolutely. Right. and so I just, You,Michael Jamin:You were on your own at 15, Dude, I, I couldn't imagine.Rob Cohen:Yeah. I had an apartment. I, I mean, it's not like I suddenly got, was living on my own and figured everything out. I was still a disaster. I just had my own apartment and I was so stupid that for the first month I was like, Oh, this is awesome. My party pad. And I had all my buddies over and we were just doing stupid things. And then I got the, basically realized I had to pay rent and gas and electric. And I was like, Oh my God. Like, I actually have to pay these bills to live here. And I was delivering pizzas at night, and that was certainly,Michael Jamin:You're gonna school during the day and delivering pizza.Rob Cohen:Yeah, I delivered pizzas. Oh, yeah. Yeah. I was a comp, I was a disaster. I had a 75 Dodge Dart that I would deliver pizzas in whatever the weather was and would like steal gasoline from car lots. So I could put gas in my car to deliver pizzas. I was a complete idiot.Michael Jamin:Have you tried pitching this as a show?Rob Cohen:No. it's just, it's so, it's, it's interesting in hindsight, but it's also, you know, you could call it, you know, like it's like Don portrait of a team runaway. It's like Rob portrait of a complete disaster because every choice I made was wrong. That'sMichael Jamin:Mind's a good show.Rob Cohen:. Well, maybe at some point, but I think I sold a pilot once about my parents' weird divorce and how they lived a block away from each other, but had the same address through it, some flute. But anyways, I was just drifting around for a while, just doing nothing. And sort of speeding up to your question. My cousin lived here in LA in the Valley, and I, because I was doing nothing in Calgary and had, I was not gonna college, I did not have enough credits or interest to go to university. And just got my car one day and left my apartment in Calgary and just threw a bunch of stuff in the car and drove down here to LA to visit my cousin who lived in Vaneyes. And again, like speeding through the boring stuff. I was just gonna visit for a couple days and crash on his couch.Rob Cohen:And I met this girl that he was going to school with, and we, she and I hit it off and I'm like, I'll stay another week mm-hmm. and then I'll stay another week. And then I sort of had this, if you want to use the word epiphany incorrectly realized like, I could go back to Calgary and do nothing, or I could stay here and do nothing with this girl. So I decided to like stick around for an you know, excuse me, undetermined amount of time. And then realized I'm kind of living here. But I was, I lived here illegally for many years.Michael Jamin:And you were like 17.Rob Cohen:Yeah.Michael Jamin:How old were you? And you were living here illegally?Rob Cohen:Yes. For many years. Interesting.Michael Jamin:Yeah. And, but you were working, How did you work then?Rob Cohen:I worked under the table. I got a bunch of jobs. I think the statute of limitations is over, but I worked at different restaurants and Right. The, I was a security guard at a mall. I sold shoes, I fixed yogurt machines.Michael Jamin:You know, I worked at a yogurt store. I wonder if you fixed Humphrey yogurt.Rob Cohen:You fix, did you fix them? I worked at a place called I can't believe it's Yogurt. And then they opened up a second store that said, Yes, it's yogurt . So they basically, they opened up a store that answered a question nobody was asking. No. Was asking . Yeah. And I still remember how to, you know, you unscrew those four bolts and you pull out the assembly and you take the O-rings off and you clean them and then you lu the O-rings and then you put the thing back in. But it was all the reality was because I looked and mostly sounded like an American people never asked. And this was pre nine 11 and pre all that stuff. And they just thought I was American. And no, not one person asked me for any validating id. Wow. And I, I made up a fake social security number and got hired and they, a lot of 'em just paid me cash under the table.Michael Jamin:This is perfect. Yeah. Now, and then at some point, well, but maybe I'll skip. So how did you, how did this whole Hollywood thing happen? When did you decide, how did that, when did you decide you wanted to be a, I guess, a writer? Right.Rob Cohen:Well, I never decided it. I, I, it's such a boring story and I may actually do it as a pilot, but cutting to the chase, I was delivering food for a, a deli that is no longer in business in LA Right. And had a lot of clientele that were in show business. And this one guy took a liking to me and basically said, you know, if you ever wanna get outta the exciting world of late night sandwich delivery, gimme a call. We need PAs. And I didn't know what a PA was. And he explained what it was. So I, I, this is how dope I was. I was like, Yeah, sure. So I'll, I called him up and went over to the Fox lot and he explained what a PA was Uhhuh and I thought it paid more than working at thisMichael Jamin:Deli. And he, he was a producer. What wasRob Cohen:He? Producer? for, I mean, he's still a producer, but producer of The Simpsons, Tracy Elman show. Oh, okay. This, he's an amazing guy named Richards guy who I, I literally owe everything to. And he hired me because I was nice to him when I would deliver food as a PA on the Trace Elman Show. And that was the very first time I was exposed to anything in show business whatsoever. And I was assigned to the writer's room, so I was in charge of getting them food and cleaning up. And And that's a queen. Yeah. And it was an amazing writer's room. And that was it. That was the first exposure to it.Michael Jamin:And then when did you decide you wanna start? When did you start writing?Rob Cohen:I didn't start writing. I was there for the last two seasons of the Tracy Elman Show. And then on the last season I didn't even, I still don't really know how to type. I started hunt and peck, but I would stay late at night. And they were, it was a great writer's room and they were really nice to me. And I just thought these guys seemed to be having fun. And one night they were stuck on a joke and that meant they were sticking around, which meant I had to stick around because I had to clean up after them. And I just decided like, I'm gonna write down a couple options for this joke. And sort of meekly slipped it to one of the writers, this guy Mark Flanigan, who was an incredible, and I'm like, you know, I don't mean to step on eight toes, but I just, I wanna go home.Rob Cohen:Ideas. Yeah. And that was literally, I wanna go home. And he, they used one of the jokes. And so I got to go home . And then I was like, Okay, well I'll try this again. So I, I started to very quietly with months in between side sort of pitch ideas. And then I went in at night after work and Red Scripts and sort of taught myself how a script is visually structured. Right. And then on the computer would type fake scripts just to physically format a script. And then, because it was a sketch show, I had this idea for a sketch and I just typed it up and it took like a month for me to type up a six page sketch cuz I was terrified. Right. And they ended up buying it and Wow. It was like $1,600. And I got an agent at caa, but I was still a pa at the Tracy Elman show. Right. And, and then I thought, again, showing my lack of planning for my life it was like, this writing things seems kind of fun, like maybe I'll try it. And that was, that was when I had the first inkling that perhaps that was something I may want to try to pursue. But there was no guarantee of success.Michael Jamin:And then you just continued writing specs scripts and your agents started submitting you places.Rob Cohen:I wrote a bunch of spec stuff and then by that point to Tracy Mond show was canceled and they switched. It was the same production company as The Simpsons, which was just starting. So they switched everybody over to The Simpsons. And then because everybody there was so great when The Simpsons took off, you know, it just was huge outta the gate. They had all these weird assignments that they needed help with. Like can you come up with 50 grant calls for Bart? Can you come up with a promo for this? Do the Bartman video that's gonna be on mtv. And I'm actually looking, the, my very first check sort of professional check over on the wall was for writing the intro that Bart Simpson was gonna say on MTV for the Do the Bartman video that had Michael Jackson on it. Right.Rob Cohen:So I got $300 and then just started sort of you know, writing weird things. And the, the first actual job that I got was I was recommended by one of the writers to these producers named Smith Heian. Mm-Hmm. And they were doing a 50th anniversary Bugs Bunny special for CBS. And they needed a writer that knew a lot of stuff about Bugs Bunny. So I had a meeting with them, they hired me for $2,600 to write this whole special, And that was like my first professionally produced credit of something that was, I, I was involved in from the beginning to the end. Right. But I'm still a paMichael Jamin:And none of this see, people ask me like, Well, do I have to move to Hollywood to work in Hollywood? AndRob Cohen:Like, Right.Michael Jamin:I mean, this wouldn't happen if you were not in Hollywood.Rob Cohen:Oh yeah. And it was, everybody says this, but it was absolutely a different time. And I also think that because it was the late eighties, early nineties and things were, there were way more jobs. And also because sketch shows were so popular, they needed people needed little bits. And also being around The Simpsons from the beginning, it was great like that. The Do the Bartman thing I sweated over that for a week and it was probably four sentences. Right. and I would write like top 10 lists for Letterman and try to send them in like naively thinking here's, here's 20 top 10 lists, Maybe you guys will like them. And I was just, I would stay there late at night in the office on the Fox up by myself with, you know, feral cats giving birth under the trailer just writing weird stuff and kind of figuring out the job as I was doing it.Michael Jamin:And then how did you get the Ben Stiller Jo Show?Rob Cohen:This has gotta be also boring.Michael Jamin:I think it's fascinating.Rob Cohen:Well, the way I got the Stiller show was The Simpsons had taken off and I was still working for Gracie. And I had an idea for an episode and it was season two of The Simpsons. And so I went and just wrote this episode on spec on my own. And it was basically a diehard parody cuz Diehard had come out just like a couple years before that about the power plant where Homer works getting taken over and he inadvertently becomes a hero and saves a power plant. Mm-Hmm. . So I wrote this whole spec, I turned it into Sam Simon who was running the show and was just great and he loved it. But what I was told sort of off the record is at that time, Gracie Films had a rule where they could not hire writers that were already working for the company in another capacity.Rob Cohen:It was like this weird archaic rule. So being a Ding Don I was like, Oh yeah, well screw that. I quit. So I walked over to the main bungalow and spoke to Richard Sky and I was like, You know what? I think that rule's terrible and Sam likes my script and I just think I'm gonna try this writing thing. And, and I quit. And they're like, Well, we're sorry to have you go. And then as I was walking back across the parking lot to get my stuff, Sam grabbed me and he is like, I heard you quit. And I said, Yes. And he goes, Well now you don't work here anymore, so now we can hire you, but we can't use your idea because you pitched it to us when you're an employee. And I was like, That's weird. But cutting to the chase.Rob Cohen:They took me upstairs to the writer's room and they had an index card that just says Homer invents a drink and most deals it. And so they said, We would like you, we loved your script and you've been here since the beginning. Like, we'd love you to write an episode. And I was like, Absolutely. I was freaking out. And I said, like a, an arrogant idiot. I was like, But I wanna be involved in the entire process. Cause I knew the process cuz I was working on the show. And they're like, You got it. And so we broke the whole story and it ended up being the episode flaming mosMichael Jamin:Flaming. I know you wrote Flaming Mo. Wow.Rob Cohen:So I wrote Flaming Moose, and then time went by and, and it got produced and it was on the air. And the way that I got the Stiller show was I was doing punch up on this terrible movie for Morgan Creek and met this other writer there named Jeff Khan. And Jeff and I hit it off and he's like, Hey, they're shooting this weird pilot at my apartment, you wanna go check it out? And I was like, Sure. So we went over and it was the pilot for the Ben Stiller show. Mm-Hmm. . And Ben was there and he and I hit it off and he was asking what I'd worked on and I said, this episode that had just come out for The Simpsons called Flaming Mos. And he was like, I love Flaming Moes, you wrote that. So he said, if his pilot ever became a show, he would love to hire me because we, he and I had so many similar references in our life. We love disaster movies and all this other stuff. So we really clicked. And then a couple months later, the show got picked up and he called me and said, I wanna hire you. And that was my first staff job.Michael Jamin:Wow. What itRob Cohen:Entail? What it entail. IMichael Jamin:Not it is, No, I think it's so cool. I I've known you all these years. I didn't even know that dude.Rob Cohen:And then it's all flukes. It's all flukes,Michael Jamin:It's all Yeah. But it's also you putting yourself out there and I don't know. That's amazing.Rob Cohen:Yeah. I mean, I'm very fortunate these flukes happened because, ButMichael Jamin:You also Yeah. I hadn't but you put yourself in a position to have these flu happen too. Yeah. AndRob Cohen:You were put if I hadn't, but I was prepared. But if I hadn't met Jeff that day and we hadn't gone to his apartment, I would not have met Ben and that wouldn't have led to the show. Right. WhichMichael Jamin:Led. But you're also, I mean, honestly, and I mean this in a compliment, like you're one of the be better connected, more most connected writers. I know, you know, a lot of people like, you know, you're friend, you're a friendly guy, you, you know, a lot of people I guess maybe cuz you leave your houseRob Cohen:No, but you're, you're connected, you know, a lot of people, it's just,Michael Jamin:It's just I know, but I'm always, I'm always surprised by who you like you seem to know more people .Rob Cohen:Yeah. But it's only because I just think I hate this term, but I think the alt comedy scene was starting when you and I were starting off in LA Yeah. And because, especially because of the Stiller show, that whole crew were so important. Like Janine and David Cross and all those guys were so important to the alt comedy scene. And then that's where Jack Black and Tenacious D started and all these other people Will Ferrell. Like they were all coming up that way. I just think it was timing of an, an era that was happening. So wereMichael Jamin:Just, Were you involved in that? Like did you do like, what do you mean? Did you go to those shows and stuff? Like IRob Cohen:Oh yeah. The Diamond Club. Yeah. I mean it was, that was the whole scene. Like big intel books, the Diamond Club. IMichael Jamin:Didn't even know about it back then.Rob Cohen:Really? Oh my God. Yeah. That was where everybody hung out. Like I even performed in some of those dopey shows just because it was, it was a group of friends that were not famous yet that we're just doing these weird shows at this place, The Diamond Club in Hollywood, which is gone mm-hmm. . And you could tell it was like, you know, Jack and Kyle, you knew they were amazing, but they were not tenacious to you yet. Right. And, and Will was not Will Fiery yet. He was a guy from you, the Groundlings and people were just, you know, Janine and David and Pat Oswald and all these guys that were justMichael Jamin:Right. So let's talk about those guys. So they were, you know, these are people putting themselves out there. It's not like Absolutely. They're not saying, Hey, I put me in my movie. They're just putting themselves out there. They're doing shows. Yeah. Yeah. I mean, that's just how you do it. And so is they're not asking to start at the top, they're starting at the bottom.Rob Cohen:Yeah. Well I think that's a great point. And I think using the, the Diamond Club shows, The Diamond Club was this horrible, horrible dumpy club. A club is a loose term that was owned by one of the the Stray Cat was it Stray Cats?Michael Jamin:Yeah, I know the band. TheRob Cohen:Band The Stray Cats. Yeah. It was like Slim Jim Phantom, I think was the guy who owned the club. Okay. So it was this horrible, decrepit theater that was near LaBrea and Hollywood and it was kind of a you can do anything you want kind of place because it was just soaked in like old piss smell and booze. But the good thing was a lot of friends of ours, like this friend CJ Arabia, started to put these shows together. And so she would ask everybody in our little group that all hung out and travel together and dated each other and whatever. It's like, hey, we can do these shows at the Diamond Club. And I'm not a performer, but it would be like, we would build entire sets out of corrugated cardboard and paint them because the Diamond Club didn't care. They just wanted to sell alcohol to people that came to the shows . So there would be like, you know, shows where you look now at the lineup, you're like, Holy crap, that's the, that's like a lineup of insane comedy hitters. Right. But at the time they were not, they were just young weirdos.Michael Jamin:It's so, because you know, I moved here in 92, I lived right in West Hollywood. I lived right on the corner and I'm just, it's amazed how like we just didn't know each other then, you know? Yeah,Rob Cohen:Yeah. But you and I actually in Seavert sort of weirdly intersected with the Wonder years unbeknownst to us.Michael Jamin:I well sever wrote on that. I didn't he sold number years.Rob Cohen:No, but you guys, and you're credited on my episode.Michael Jamin:I'm no, I I didn't work in the Wonder Years. Si sold ans sold an episode of Freelance episode of Wonder Years, my partner becauseRob Cohen:Yeah. But it's so weird because on screen, it's you two and me credited on the episode. I pitched to Bob Brush. He tried to ripMichael Jamin:Up. Not me, dude. I don't have any credits on Wonder Years. You gotta, I Oh,Rob Cohen:You know, Seavert and his old partner?Michael Jamin:Yeah, his old partner. Yeah. Yes.Rob Cohen:Sorry. It was Sivert and his previous partner.Michael Jamin:I'm surprised he got credit though. Okay.Rob Cohen:Wow. Wow. The whole thing was Bob Brush was just stealing ideas left and right. But wow. That's interesting. But that's SivertMichael Jamin:And I But you never wanted to I'm well, I'm sorry I cut you off. GoRob Cohen:Ahead. No, no. I was gonna say, I didn't know you were Seavert yet. Right. But on that episode, Seavert and I share credit even though at the time we were complete strangers. And then I really met him when I met you on just shootMichael Jamin:Me. Right, Right. Now, did you, you never wanted to perform, I mean, it's funny cause you have performed but you never wanted to.Rob Cohen:I have performed reluctantly. I hate it. And it was like, whether the Diamond Club show or if I've been like an emergency fill in at the Growlings, it's, before I do it, I'm like, Hey, this is cool. It's gonna like sharpen my brain and it's gonna be a great thing. Just jump off the cliff and try. And then in the middle of it I'm soaked in sweat and hate myself. And then at the end I, I am so relieved it's over and I absolutely loathe it. I wait,Michael Jamin:I'm just shoot me. I remember we had you play the dirty bus. The dirty bus Boy was your character. Dirty Dirty bus, and you hit it outta the park.Rob Cohen:. Well, all I had to do is sort of wiggle my eyes. Lasciviously while it was clear the older waitress and I were messing around.Michael Jamin:Oh my God.Rob Cohen:Cause Andy called me in and said, Can you, He's done that so many times where it's like when he had True Jackson, he's like we need somebody to be the hobo king. Can you be a paramount an hour? I'm like, .Michael Jamin:Okay.Rob Cohen:But it's not. Cuz I love it. I, I hate it, but it's also, it sounds so goofy that if I don't have any lines or something that I'm fine doing it. But I ended up on so many shows I worked on as a writer, being an emergency go to that.Michael Jamin:IRob Cohen:Truly, I truly hate it. IMichael Jamin:Truly hate it. As mentioned, Rob was talking about Andy Gordon, who's a writer we worked with a number of times. Yeah. A great guy and hilarious writer, butRob Cohen:Hilarious and so funny. Like just as a personMichael Jamin:It really witty, really making laugh. Yeah. And you just had dinner with him. Yeah. It's so fa Okay, so then you were okay. Then we worked together and just shoot, We, for many years, we, we used to sit next to each other. Yeah. Sometimes at least. Yeah. And then, and then what happened was years, I remember years later we were doing a pilot. We were helping out a pilot. I don't remember whose Do you, do you remember? We were, I remember I pilot, I don't know, might have been, might have been a CBS Ratford pilot, but, but what happened? So people don't know. So when someone makes a pilot, it's very, at least back in the day, it was very common for the person who created the show to call in their friends as a favor. Hey, can you guys help, you know, sit a couple days and help me, You know? Right. Pitch on jokes or do the rewrite or whatever. And as it's courtesy, you always say yes. I mean, you just never, never say no. And CauseRob Cohen:You also hope, if it's a success, you'll get a job.Michael Jamin:Yeah. But sometimes you have a job so you don't even care. But Sure. But, but absolutely. You always say yes. And I remember being there on the state floor, and I hadn't seen you in a while, and I was like, Rob, what are you up to? And then you said, I was like, so I was thinking you were gonna, you know, you had written on a bunch of shows, but you were like, Yeah, I'm kind of done. I'm done writing, I wanna directRob Cohen:Mm-Hmm.Michael Jamin:. And so what happened there? What was the, what made you wanna stop writing and start directing?Rob Cohen:I feel like I, I'm gonna continue to take long, boring stories and compress them, but the, the quickest answer is I'm so appreciative of the, the fluke that come into writing. And I, I was a writer on TV shows for 18 years. Right. And I, I greatly appreciate the opportunity that it provided in all areas. But what was happening would be I would be on a show and they would need somebody to go supervise, like a shoot on, like at, you know, the Radford lot. There was that fake New York Park. So they would need somebody to go film a scene that's supposedly Central Park. Right. Also, if they were doing any exterior shoots, I would volunteer to do that. And there's people we know that are writers that hate being around actors and they just wanna stay in the room. . And I was, I was realizing I wanted to get out of the room mm-hmm.Rob Cohen: and go where the action was. And then I would direct some, some friends of mine would do low budget music videos and I would do it for free. And then I was kind of building this weird little real sort of unknowingly. And then other friends of mine that part of those Diamond Club crowds that were now becoming well known comedy performers were doing movies. And they would ask me if I would help write the promos, you know, the commercials for the movies. And foolishly or otherwise, I would be like, Yeah, if you, if you arrange for me to direct these promos, I'll definitely, I'll write it and I'll do it for free. And they're like, Okay. So because they had muscled with the studio, they would be like, Rob's the guy and he's also gonna direct it in the studio's. Like whatever you say.Rob Cohen:Right. So I realized that I was really enjoying it. I'm not saying I'm good at it, but I was really enjoying it. And then building this sort of very weird real. And then when the writer strike happened 2007, 2008 I was walking the picket line and kind of had this feeling in my head, like, if I go back into the room, I'm going to stay on the path of being a TV writer probably for many, many, many years. And this is an opportunity. I was pretty honest with myself. It's like, what I really, really want to do is be directing, like, to make the stuff instead of write the stuff. Right. So, so I decided on the picket line that I would kind of hop off the writing train and just try to keep cobbling together these weird little directing jobs. AndMichael Jamin:That's,Rob Cohen:That was when I made the term.Michael Jamin:But I remember being on the floor with you on this stage and say, I remember this conversation really well. I was like, Wow, you're gonna be a director. And I said, like, So is your, because you know, Rob's a big shot writer. I said, So is your agent helping you out with this?Rob Cohen:Right.Michael Jamin:And what was your answer?Rob Cohen:Not at all. They wouldn't not at allMichael Jamin:Discuss it. And why not didn't discussRob Cohen:It because I was making money for the agency as a writer, and they did not want to go through building me up as a director because they were and it wasn't evil, It was just, those were the facts.Michael Jamin:That's exactly right. And that's, it's not, it's because that's a hard sell. They're not gonna push that rock up the hill. They already have directors and Rob's a no one is, he's said, no one is a director. Correct. And so you, you were literally starting your career over, and the way you did it was by working for free, you know, by just doing it and not asking for permission. You just did it. You know, figure out what you can do. And I say this all the time on my podcast, on my social media, like, and I use this, I use as an example, you know, you did it. And then I, so we were at one point we were running Maron, and that's, and I use you as another example of how to get work there. So I don't remember who contacted who, but we were, Maron was our low budget show, really super low budget show. And I guess, and how did, how did we get, I don't remember. I don't remember details, but we came in contact again.Michael Jamin:Hey, it's Michael Jamin, if you like my videos and you want me to email them to you for free, join my watch list. Every Friday I send out my top three videos. These are for writers, actors, creative types. You could unsubscribe whenever you want. I'm not gonna spam you and it's absolutely free. Just go to michaeljamin.com/watchlistRob Cohen:In what I think it was, I emailed you guys to congratulate you on the show and we just started a dialogue. And then you guys very generously asked what I was doing. And I think that's how we loosely started this conversation.Rob Cohen:Right. But it was you Sivert, Mark, who I'd known a bit in the past. And then was it Erco or was it yeah,Michael Jamin:Probably Pi Cerco.Rob Cohen:Yeah. I can't remember. I mean, you guys went way out of your way to let me have a meeting.Michael Jamin:But what's what I, IRob Cohen:Remember is in Glendale.Michael Jamin:Yeah. And what I remember about that meeting was how prepared you were. You came, we met with a lot of directors and we needed directors who were cheap, can do low budget. Who, And you, you had, you were all that I could do low budget cuz you do low budget, you do no budget. Right, Right. And you came in super prepared, and I've talked about this before as well. I, I think on my podcast, we on social media is like, you blew us away. So what you did, as I remember, you watched the presentation, which is already shot, and then you, you blocked it. You, you, you drew diagrams and you said, this is where I would've, this is how I would've shot the presentation. This is where I would've put the cameras. And see, by doing it this way, you have less setups and you don't have to move the cameras much.Michael Jamin:And because you do, because you're being efficient with your setups, you can make your day, you can get all the shots that you need because I'm not getting a ton of coverage. I'm just getting exactly what I need and I'm getting it fast. And the fact that you took all that time to draw those drawings, you, you know, you proved to us, and I remember you walked out and we were like, He's hot. You know, he's the guy, he knows how to do it. Mm-Hmm. , you know, you blew us away. So it wasn't like we did you a favor, you came in, you were prepared. You know,Rob Cohen:We, Yeah. But I really, I mean, again, I remember that meeting so clearly because I was, I, I, I loved you guys. I thought the presentation was awesome and the show had all this great promise, but I loved the vibe of what the show could be and really, really wanted that job for those reasons and to work with you guys again. But also because I knew there was a way, and it was my old writer sort of producer brain thinking like, there's limited time, there's limited money. How can you maximize the writing and the, the humor opportunities, but your production schedule is so crazy tight. How can mathematically you do both things? And that's, I remember leaving that meeting and just like, I, I didn't know what else I could've said, but it was really my experience as a writer and a producer, just like, this is how I would make this more efficient. Not that you guys were inefficient, but it was just how my brain had worked from the writing side.Michael Jamin:And that's, and I, and that's what we appreciated most about you as a director, is that you came from a writer, you were a writer, you understood the writing, you understood how to be true to the script, how to service the script. And I gotta say, it was always very easy working with you was never, you had never had any ego attached. You were like, Hey, is this, how do you like this? Oh, you don't like that? Maybe you like this. It was always, you know, course pleasing the client basically. ButRob Cohen:You guys were not only were you my friends, but you guys were the bosses along with Mark and I I would say just, it's not even from a Canadian standpoint. It's like you are hired to visually capture the script that has been written mm-hmm. . So if somebody's coming in thinking like, here's how I'm gonna put my stamp on it, or this is gonna be for my real, it's a mistake because Right. What I, what I love doing, and you guys were great show runners, was if you got Guy, if there was an idea I had, I would happily run it by you because it made it easier if you liked it. And if you said, Well, we actually thought about it this way when we wrote it, it's like, that's cool. My job is to visually capture it. Yeah. And, and also it's like this scene's running over, so here's a, here's an idea how we can pick up that time.Rob Cohen:Right. Or Mark has an idea. So it's like, okay, let's honor what Mark is saying and Right. That's to me, it's your number one goal is to take the blueprint and build a house. And it was so easy because you guys, we all knew each other, but we all came from a writing background. Yeah. And it was, it was like, well, you know, this B story's never gonna pay off this way, so what if we just save some time and just make this like a joke instead of a B story or whatever was going on. ButMichael Jamin:I remember right. I was always relieved when you, when you were directing, I was like, Oh, this is gonna be a good fun week. It's gonna be easy. It's gonna be yeah, we'll get what we need.Rob Cohen:Oh, I loved it.Michael Jamin:Yeah.Rob Cohen:I love that show.Michael Jamin:Yeah. That was, we had a blast. But it was, yeah, it was low budget. And then, so what do you say to, because it's so many people, you know, they do ask me like, Well, how do I, how do I become a director? Mm-Hmm. . And so how would you tell people, young people just starting out, I would do what you just did, but go, let's hear what you would say. No,Rob Cohen:I, I would say you know, again, to sound like an old man, times have changed mm-hmm. . and I would say that the number one thing is to show somebody that you have directed something and that can be directing it on your phone or making a short film. There's so many ways to do it inexpensively now with technology. There's no excuse. Right. My second answer would be it's to show the people that have written the show or have the script that you can not only be trusted to run the set and get all the scenes and get some options e editorially, but that you also aren't literally just filming the script that you are gonna mind some more humor. Right. Or you have a style that's appropriate and that's established in the first part that I said, which is make your own real.Rob Cohen:You know, like there's a music video I did the total budget out the door before, way before that was $2,000. Like everything. Right. And we were able to, you know, we had three minutes and 25 seconds or whatever it was to do it, but we were able to get some funny stuff within the video and it was for Virgin Records. And the one letter I got back from was like, We love this video because there's so much funny stuff in it. It wasn't about the song, but it's finding a way to sort of add, without putting the spotlight in yourself because the spotlight should be on the script.Michael Jamin:But once you have your reel, like okay, how do you, who do you show it toRob Cohen:You? If I was doing it today? I think you show it to I mean YouTube is a great example of somewhere that for free, you can exhibit your wares mm-hmm. , I would say the going, showing it to an agent is a, is an older route that I think is gonna be more frustrating because you can now start a website of yourself and send it around to people with a click. I think, you know, the great thing about short films is there's so many festivals and a lot of 'em are online that even if you make a three minute short film for a, a very inexpensive amount of money, you could literally have people around the world see it after you're done editing it. And so that's what I would do today is write something, because if you write it, it gives you extra juice.Rob Cohen:Mm-Hmm. . And then you're also not paying a writer. Right. And you, and then the way that you saw it as a writer, writers basically direct stuff in their head when they're writing mm-hmm. . So then take the initiative to film what you saw in your head originally and put down on paper. And then there's so many people that would do favors. Your friend might be an editor and he needs something for his reel. So you make a deal. It's like, if you edit this for me we'll have a finished product, then both of us have something. So I, I would say it's, it's, it's it's hustle, but it's not like that lame thing of you gotta hustle. I think it's an iPhone will make something so beautiful. And with an iPhone and a tripod, your costs are gonna be your phone and a $10 tripod.Michael Jamin:And I, I say the, I Go ahead. Continue. Right.Rob Cohen:Well, no, I just think there's no excuse to not make stuff. Yeah. But you want to, you, you want to use the internet you want to use film festivals that a lot of 'em have free submissions and start a website you're on webpage and people will find it like they, somebody's gonna see it. And as long as you keep adding to it on a fairly regular basis, it's the same as when you and I were starting, you would have to send out a packet and to meet writers for staffing meetings, they would want to either read your spec half hour or your writing packet. So this is the same thing, it's just your directing packet.Michael Jamin:Right, Right. I say this all the time, I think people think I'm nuts, but Yeah. It's just like, stop asking for permission and just do it. Yep.Rob Cohen:Absolutely.Michael Jamin:A Hundred percent. And stop and stop thinking about starting at the top. How do I sell my, how do I direct for Twentieth Century Fox? No. How do I direct for my neighbor? Yeah, That's, that's the question. Yeah.Rob Cohen:But that's what I loved about those music videos. Not to keep referencing 'em, but you're, the, the greatest thing is when the artist said yes, because I was like, Oh, this is great. I'm gonna have a music video in my real, And then you realize like that $2,000 pays for catering, pays for editing, pays for a dp, pays for lighting, pays for location, and you very quickly realize you have no money. But the challenge of that is so great and has so much value, these little jobs that people can take because when you do show it to somebody, they go, You made that whole thing for $2,000. That's ex or damn, or you made this short film for a hundred dollars and you could, I you could, if you have a Mac and an iPhone, you can make a film.Michael Jamin:I said, so funny you say, cuz I said the same exact things. Like the less money you spend, the more impressive it is because you're saying aRob Cohen:Hundred percent,Michael Jamin:You know, and, and by the way, no one's gonna be impressed by the Dolly shot or the special effects you put in because you're not gonna, you know, the Marvel movies are gonna do that a thousand times better than you can ever dream of doing it. Yeah. So it always comes down to the script and Yeah. And, and how little you can spend. That's the impressive part.Rob Cohen:Yeah. And I will say, not to over compliment you, but whenever I have meetings for directing jobs that every, the shows that they bring up almost every time that they're really curious about are Marin mm-hmm. standing against Eva, which is another Iffc show. And somebody Somewhere, which is the Bridget Everett show, which is an incredible group of people that do that, but on a fairly low budget. Yeah. And nobody wants to talk about how you pulled off some amazing big budget production because they know you had a big budget, but if you can show them that you can work lean and mean and you were involved from the ground up it has so much cred with everybody that to this day, like it happened the other day, people were talking about Marin, they did not believe what that schedule was like. Yeah. And when I explained it to 'em, their minds are blown. Yep. They, they can't believe it's possible. Yeah.Michael Jamin:Right. Yeah. FastRob Cohen:And it is possible.Michael Jamin:Yeah. It was like two or two and a half days for a shoot,Rob Cohen:Which is two and a half days for an episode.Michael Jamin:Yeah. And ordinarily, it's like five. Right. Or how do you, have you ever directed an episode that was more than five days?Rob Cohen:I've done one that's six. Okay. but you know, me, the thing that I would say in these meetings is like basically a, a regular work week, you will have completed two episodes where most shows are barely getting one for a way bigger budget. Yeah. But the great thing about the Iffc model was they don't give you notes, they stay outta your way. They're supportive and they appreciate that you're delivering a television show for peanuts. But then everybody benefits because they've agreed to embark on a journey where everybody has skin in the game. And that, that I think also will help people get writing or directing jobs.Michael Jamin:I see. I, I think sever and I, we prefer, you know, we take whatever work we get, but we prefer working low budget for that reason. They leave you alone and you can actually be more creative. But how do you feel when you're like, I would imagine directing a high budget piece would be more stressful and, and and terrifying.Rob Cohen:It is, but because there's more writing on it. But I would say the larger budget stuff that I've directed, and it's not like major movies or anything like that. The, the pace of things is a lot slower mm-hmm. because people have more time and more money. And to me, I love going fast and lean and mean because you still have the amount of money, but why not get five takes at a scene instead of two takes. Right. And, and so if you have more money, it doesn't mean you get lazy, you keep your foot on the gas, but you just get more options. Right. And so I think learning anything, writing or directing anything from the ground up with no resources will make you be more creative and more efficient. And people, when they're hiring you, certainly for directing, appreciate how efficient you are. Because you're basically saying, Give me the keys to the bank and I will take care of your money and you'll have five choices instead of two choices. Right. And that's what it comes down to.Michael Jamin:You say choices, do you mean coverage or do you meanRob Cohen:Coverage?Michael Jamin:CoverageRob Cohen:Takes coverage? You know, Maron, we would rehearse it as we blocked it. You know, like it was, it's not like we had these long, lazy rehearsals. It was like, Okay guys, we have three hours in the living room. Let's,Michael Jamin:Do you have more rehearsals, more rehearsal times on your other shows? Yeah. We had no rehearsal time.Rob Cohen:Yeah, sometimes, but I also think that's built into the larger budget. So if it's a network, single-camera show, people can walk away to their trailers and you call him back when you're ready and then lighting director gets everything perfect. And again, like with Joe Kessler, who is our awesome DP on Marin mm-hmm. , that guy works so well just like running gun, Running gun. Yep. And there's ways to make stuff look great. And also Mark, who's not a trained actor, was delivering some really heavy stuff mm-hmm. and people are finding it as they go. Because I think that team mentality, if you're writing or directing, everybody's on board. They, they've signed up understanding what the job is and once people chip in it's gonna make it a better experience in every area.Michael Jamin:Now you, I'm changing gears here, but you also do a lot of like this Dr. Show. Like you do a lot of, like, you do commercial work, but you also do like bizarre passion projects on the side. Mm-Hmm. , Right? So talk about like that. Like what, what's, what'sRob Cohen:WellMichael Jamin:Hanging with Dr.Rob Cohen:Yeah. It was during the Pandemic and Dana Gold, Pete Aaronson and I are friends and we just, everybody was stuck inside and a lot of work had gone away because of the pandemic. And we just started talking and kind of came up on the fly of the show and realized we could make our own YouTube channel and if we put the money together ourselves, then we're the studio. So nobody's gonna stop us because we're paying for it. Right. So Dana does this incredible Dr. Zs impression and we were like, what if Dr. Zs hosted the Mike Douglas show? But he was sort of like a cheesy Sammy Davis Jr guy, and we would call in favors with friends of ours who would be real guests, shoot them remotely and make 10 episodes. Right. And it was truly a fun project during Covid. And we ended up, you know however you could describe having a small but interested following making season one of Hanging with Dr. Z. And we used the internet and Instagram and, and all that stuff, which led to us having a really successful Kickstarter campaign for season two. And the budget, I wouldn't even use the word shoestring, I would say it was like a photocopy of a shoestring, but I love doing weird, silly stuff. And a lot of it it improvised and it just tapped into all of our favorite ways to do stuff. Right. But it was working with friends, you know, during a pandemic.Michael Jamin:Right, Right. People have friends and you do project with your friends, right?Rob Cohen:Yeah. And we ne we, we have not made one penny on that show. We, we have lost money on it, but willingly because it going, what I said earlier, we could guarantee it would exist because we were creating it and paying for it. So there's nothing stopping us. Why not? Like why not do it?Michael Jamin:People often say to me like, you know, they want, or they want me to read this, they want me to make their career. And it's like, you don't need me to make your career. You need three funny friends. There are three friends with a similar vision. Yeah. Do something with them. And that's exactly how you, that's how you started. That's how I started. Yeah. And so that's why I say stop asking for stop begging for permission to just start, you know, doing it. Just do it.Rob Cohen:The thing that, like using hanging with Dr. Z as an example, and only because it's something that I was involved in that came out of some friends of ours who were politically active when the elections were happening, the 2020 elections mm-hmm. . And there was a group that had reached out to my friend Colin to make a campaign to stop Mitch McConnell. And so they asked Dana and I like, Could you guys help us out? And there's zero money involved, but are you guys interested? So Dana and I just started to shoot the breeze and we thought, let's just shoot Dr. Zs basically talking about why Mitch McConnell should be stopped. We shot it in his backyard and his girlfriend at the time played Nova and he played Dr. Zs and we did it in front of a, a green screen sheet and we knew we were gonna put the Statue of Liberty from Planet Apes behind them and shot a political ad in two hours.Rob Cohen:Right. And then we had so much fun with that and the, this little weird ad kind of did well enough within the small circle of people that love Dr. Z's political ads, that that's what led us to talking about the talk show. But again, it was just homemade. And my point is, I think whether people call it a passion project or whatever they wanna call it, if they have an idea and they write it or they direct it, or they do both, you immediately eliminate people saying, You can't do it because you did it. But more importantly, the people that could give you other opportunities respect the fact that you did it and didn't wait around for somebody to give you an opportunity. Right. Cause you will get the opportunities by creating your own opportunities.Michael Jamin:And that's, that's one thing I always admire about you, is you're, you're very entrepreneurial that way. And it's like, Yeah. You follow your heart.Rob Cohen:Yeah. But I'm also convinced, like as flukey as my career started, I'm convinced that it's gonna end. Every job will be my, my last. So I'm trying to keep more plate spinning Uhhuh. But I also love, you know, like whether it's, you know, somebody somewhere is such an amazing experience because of Bridget and Hannah and Paul who created, and Carolyn Strauss and hbo. And it is the nicest group of people and the most enjoyable environment where you can, every single person on that show in rural Illinois is there because they want to be there. Mm-Hmm. . And that energy drives that show where people watching it on TV can feel that vibe. Right. And, and whatever people think of that show, it's like summer camp where every year you get together and people are so excited to take very little money to be part of this experience.Rob Cohen:Right. And that the same thing can happen with person X deciding they want to make a short film or they wanna make fake commercials or whatever, because they're gonna set the tone and they're gonna create the vibe. So I think it's a mistake if somebody's like, I only wanna do cool stuff, or, you know, nobody's gonna let me do my ideas. It's like, Yeah, you're not letting yourself do your ideas. So when you told me you were starting your course, I'm like, the biggest obstacle to somebody making anything these days is the person who's bitching about it.Michael Jamin:Yeah. That was me. Yeah.Rob Cohen:No, but, but it's all doable. Can you guarantee success? No. But you will gain amazing respect and opportunities by having it be tangible instead of complaining about it.Michael Jamin:Yeah. Yeah.Rob Cohen:And that's just a fact.Michael Jamin:That's just a fact. Well, where do you see, where do you, because the industry has changed so much since we started, What? I don't know. What's, what's your prognosis for the future? What do you see? People ask me this, like, I don't know.Rob Cohen:I think, what doesMichael Jamin:The present look like?Rob Cohen:Well, I don't know, but I think it's quite obvious that streamers of the future and broadcast networks are not the future. Mm-Hmm. . So you and I were lucky enough to start in sort of part of the glory days of the nineties when mm-hmm. , you know, you had multiple staffing meetings, you know, you would just, it would be that sort of dating circuit for a few weeks where you would bump into people going in and out of offices. And you started off like having four offers. And then it would be two offers, and then it would be one offer. And then it goes from you hoping you do get an offer, or hoping you get a meeting and you could see the tide is turned. So to me, the future is definitely streaming and smaller budget, shorter orders mm-hmm. . And if somebody is expecting it to go back to people paying you a lot of money to do 22 episodes of a TV show a year, I think that is very foolish. Yeah. In my opinion, because it'll never go back to that.Michael Jamin:Yeah. Yeah.Rob Cohen:But it shouldn't go back to that.Michael Jamin:Well, it is what it is. But, but no,Rob Cohen:But there's no more musty tv. Like Right.Michael Jamin:YouRob Cohen:Know, look at the Emmys. Like, it's the, the show with the biggest amount of TV stars on it that just aired, had the lowest ratings ever. And it's not because of one person, it's because they've lost their viewership. Right. It's, they, they're not gonna get it back. People aren't gonna wake up one day and go, Gosh, I can't wait to watch this award show on broadcast. Like, those days are over.Michael Jamin:Right. And so it's always about, it's about hustling, it's about getting work, looking for the next job. Mm-Hmm. about doing your own stuff. Right. Yeah. And, and at the end of day it's gotta be, it's also has to be good. Whatever you're working on, like, you know, has to be great. Right. Well, IRob Cohen:Mean, look, I've done more than my share of crap and largely in my own hand. And I think that an opportunity is an opportunity. You know, there's a lot of credits I don't have in my IMDB page because the show was either a deeply unpleasant experience, or it's such a crappy show. You would spend so much time explaining it to people that they would fall asleep. And so the reason that I've called those credits is because it's, I'm grateful for the experience, but it was a stepping stone to what, what I wanted to do. And if I hadn't taken crappy show X, it wouldn't have led to a more positive thing. And, and I think like what you're doing is encouraging people to pursue an idea that they really believe in and learn the basics of how to write it and shoot it. Mm-Hmm. and just that small amount of initiative, even if you never show your project to anybody, you've made it, It's, it's an immense amount of satisfaction. Mm-Hmm.Michael Jamin:. That's right. Incredible. Exactly right. And I, I said that as well. And if you didn't enjoy it, then this Hollywood thing is not for you. Cuz if you're not enjoying it for free, you're not gonna enjoy it when someone's banging, you just, you, you're just gonna get money for it. That's it. Yeah.Rob Cohen:And there's people that do that, and they make a fortune. But it's also, you know, like, not to keep talking about when you and I started, but mm-hmm. just shoot movie was in the nineties, and if you said NBC in the nineties had so many comedies, some were good and some were terrible. But now if you look at nbc, are they doing any comedies? Like maybe two?Michael Jamin:Yeah, maybe. Yeah.Rob Cohen:Yeah. So, so it's the same place, but it's the, the tide is clear. So for somebody to aspire to working on wacky old timey NBC comedies, it's very foolish. However, if they are a self starter and, and determine what their roadmap is, nobody will stop them. You can't guarantee success, but at least you've tried it and you might be successful trying it and pursue what you like.Michael Jamin:See Rob Cohen is Rob Cohen. Everyone is, is there something where, is there something, What, what, Is there something people can do to follow? What do you, what what do you wanna, Can we plug something about what you're doing? Can we No, no. Can,Rob Cohen:No, I mean, I'm not on social media. I, I'm I just, I I'm genuinely appreciative of the projects that invite me to be a small part of it. And those happen, you know, here and there. And there's nothing to really follow. But I, I just think I'm excited to see this on your, your podcast. You've built a great following.Michael Jamin:I'll say this, when I need a pick me up, when I need a little encouragement, I call you mm-hmm. to kick me in the ass. Right. So I, you're just a great dude, and I appreciate you so much and for coming on and for sharing, but you thought was what was boring, but it was not boring at all. I, I learned some things about you.Rob Cohen:Yeah. I was a disaster as a young man, and now I'm an older disaster.Michael Jamin:, that's soRob Cohen:What you're, what you're doing, I know you're wrapping it up, but IMichael Jamin:Well, that's okay. I I don't wanna take more of your time, but go ahead. No, you'reRob Cohen:Not. That's, you're not, I'm, you've got as, as long as you want. I, I really think that if somebody wants to be a writer or director or producer or an editor, then do it. Like, again, you don't have to show it to anybody, but if somebody writes something really great, you can show it to people and someone will recognize that you have talent, but nobody's gonna be able to know anything about what you want to do if you haven't, if you can't manifest it. Right. So you know, again, like when you guys gave me that opportunity on Marin, unbeknownst to me, it, it was a huge help in me getting my next directing job because it, it legitimized me as a director, and then the next thing and the next thing and the next thing. But if I hadn't had that opportunity, it would be a struggle until there was another opportunity. Right.Michael Jamin:So you wanna It would happen eventually.Rob Cohen:Yeah. But you wanna be prepared for those opportunities. Right, right. So I just think that's just common sense. But what you're doing now, like if I told you you're gonna be doing this five years ago, you would, you would laugh.Michael Jamin:I would've said absolutely not. Yeah. Yeah. Of course. Yeah. Wisdom, Rob. Hustle. Hustle muscle. That's it. I can't thank you enough for coming on, coming on the show time, man. Thank you for being my first guest. I, I didn't, I'm surprised I let you talk so much. I thought maybe I'd be doing all the talkingRob Cohen:. No, I'm surprised I talk so muchMichael Jamin:. I'm surprised. I'll let you get a word edgewise. Yeah. I dog a lot. Dude, thank you so much again. AndRob Cohen:Anytime. I love it.Michael Jamin:Don't go anywhere. We're gonna, we're gonna have a post more to wrap up after this, but Sure, sure. Thank you, everyone, for listening. And until next time,Phil Hudson:This has been an episode of Screenwriters Need to Hear This with Michael Jamin. If you'd like to support this podcast, please consider subscribing, leaving your review and sharing this podcast with someone who needs

27th June

Morgan Creek's Mark Yusko discusses SPACs, crypto, and several ETFs including the Morgan Creek-Exos Active SPAC Arbitrage ETF (CSH).  VettaFi's Dave Nadig dissects Hester Peirce's recent speech on crypto regulation and offers his latest thinking on the prospects for a spot bitcoin ETF.  Pacer ETFs' Sean O'Hara explains why the firm has become the fastest […]

On today's episode of The Felix Hartmann Show, we sit down with Mark Yusko of Morgan Creek Capital Management. We cover a spectrum of topics from Blockchain technology all the way to the financially unusual times of 2022. --- Support this podcast: https://anchor.fm/felix-o-hartmann/support

Guest:Mark W. YuskoChief Executive Officer and Chief Investment Officer, Morgan Creek Capital Management & Managing Partner, Morgan Creek Digital AssetsMark Yusko is the Founder, CEO and Chief Investment Officer of Morgan Creek Capital Management. He is also the Managing Partner of Morgan Creek Digital Assets. Morgan Creek Capital Management was founded in 2004 and currently manages close to $2 billion in discretionary and non-discretionary assets. Prior to founding Morgan Creek, Mr. Yusko was CIO and Founder of UNC Management Company (UNCMC), the Endowment investment office for the University of North Carolina at Chapel Hill. Before that, he was Senior Investment Director for the University of Notre Dame Investment Office.Mr. Yusko has been at the forefront of institutional investing throughout his career. An early investor in alternative asset classes at Notre Dame, he brought the EndowmentModel of investing to UNC, which contributed to significant performance gains for theEndowment. The Endowment Model is the cornerstone philosophy of Morgan Creek, as is the mandate to Invest in Innovation. Mr. Yusko is again at the forefront of investing through Morgan Creek Digital Assets, which was formed in 2018. Morgan Creek Digital is an early stage investor in blockchain technology, digital currency and digital assets through the firm's Venture Capital and Digital Asset Index Fund.Mr. Yusko received a BA with Honors from the University of Notre Dame and an MBA in Accounting and Finance from the University of Chicago.Hosted By:Austin WillsonMichael O'ConnorBZ: welcome back to another episode of the long-run show. This is your host, Austin Willson, along with Mike OConnor. And today we are going to be having another guest on our show. We have Mark Yusko from Morgan Creek Capital. He's actually the founder and CIO of Morgan Creek capital and the chief managing partner of Morgan Creek digital.Hopefully I got that right, Mark. And we're going to be good. We're going to be talking about we're gonna be talking about a lot of different things today. Spanning many different aspects. Obviously, mark, you have a lot of experience investing money and allocating capital and also a lot of experience just with thinking about large long run issues which is the name of the show.M: One of the things that I really don't like is everything is focused on short term and social media. And that just the explosion of content has made it even shorter and shorter. And really, if you think about investing, the art of investing, it really is about the longterm. And it's nice. You're nice to say I have a lot of experience. That's just a very nice way of saying I'm old and I am and that's actually a good thing because it means you survived all the mistakes that you made when you were young. But importantly it goes to. My whole career has been around. Long-term thinking, I a series of happy accidents. I didn't plan to be an investment guy. I planned to be an architect. And then I tried pre-med and none of those things really fit. But I went to work for an insurance company out of business school and the guy who was doing investments retired. And so I was now the investment guy. And what I found is it was the perfect thing for me as a science guy. And science is all about format hypothesis, forming experiment, gathering data, testing the hypothesis, and then deciding if it's right or wrong. And that's exactly what you do in investing, right? You come up with this form an experiment.You, you make exposure and then you test it. You gather the data and the market tells you whether you're right or wrong. And part of the. my aha moment over my career was that time arbitrage. So long run thinking, right? The title of your show is the ultimate win in investing. If you have a long time preference, if you have the ability to think longer term than the average investor, you will make more money. And that's kinda cool. And you don't have to be right as often either. That's the nice thing is you don't have to always be right or prove that you're right. Which is very dangerous and investing. Yeah. So quick. Went to school. I said to be an architect or a doctor then went to business.School, came out, went into investing. And my next happy accident was I went back to my Alma Mater. I went back to Notre Dame and I got into endowment management. And what I realized was I thought investing when I worked for the bond management part of the insurance company and then an equity firm. Was that It was just about picking stocks and bonds. That's what investing does. That's what the TV tells you. You should pick stocks IBM or GM or Ford. And what I realized is those were 15% of the longterm returns. 85% of returns comes from asset allocation. The big picture allocation of capital across stocks, bonds, currencies, commodities within stocks. Do I go international? Do I go domestic? Do I go technology? Do I go healthcare? And those big asset allocation decisions drove everything. So the endowment model of investing, which I learned at Notre Dame brought with me down here to university of North Carolina at chapel hill. Whereas the CIO there, that's what I learned. And all that endowment model means is you have a long time horizon. It's permanent capital. Therefore you have this ability to take advantage of time arbitrage. The second thing is you have to have an equity bias, because if you want to have a long term positive return, you need to outperform inflation and bonds just don't do that by very much. So you have to have an equity orientation, but equity doesn't mean stocks. You mean stocks? It means private equity. It means venture capital. It means commodity equity. There's all kinds of equities. And then the next stage was I left the university back actually now a long time ago, back in 2004, and I formed Morgan Creek Capital and more capital is just about bringing the endowment model to other investors, taking this idea of alternative, thinking about investments to the masses. Now everyone says what do you mean alternative thinking? I'm like I don't like the term alternative investments. People talk about it all the time. Hedge funds or private equity or venture capital. Those are alternative investments. alternative to what? you own stocks, you own bonds, you own currencies and you own commodities. How I own them in a mutual fund, in a hedge fund, in a private partnership, doesn't change the nature that I own. Stocks, bonds, and currencies and commodities. And the problem is whoever thought of the term alternatives, who was not a marketing guy or gal, they were not very smart. People don't like alternative stuff, alternative medicine, alternative music.They don't like alternative stuff. They're afraid of it. . And so what did he do? Tape put 5% in alternatives and 95% in tradition. That doesn't make any sense because if the traditional stuff isn't attractive, why would you want to own it? So fast forward Morgan Creek over the years has migrated from, this alternative thinking about investments to my big aha moment, which was investing in infrastructure around technological innovations. And it's a wave of about 14 year cycle is where the big wealth is created. on Twitter it's my pin tweet. The greatest wealth is created by investing in something that you believe in before others even understand. you will be mocked, you'll be ridiculed and it's worth it. And so back four years ago, we set up Morgan Creek digital subsidiary of Morgan Creek capital to focus on long-term investing in the digital asset ecosystem and having a blast. had more fun than I've ever had my career. And I love every stage of my career. But I'm having way more fun. Now I get to hang out with young smart people. I get to focus on this innovative technology. That's changing the world anyway.BZ: I love the term time arbitrage. That is just such a great term. And I find it so interesting because like you mentioned, using the that's so interesting, the endowment model, because that seems so foreign to wall street of the last couple of decades, or, having this model that you're actually considering long-term implications. You're not just looking for the next big short or something like that. What's been the reception from others in the field of that. Cause it seems like so much common sense to be able to look at the long-term, but it's pretty uncommon. What's been the reception ?M: We actually created a vehicle a number of years ago called the endowment fund and it took off, it was the most successful launch of a product in Merrill Lynch's history and everybody piled in and then something happened, gold financial crisis happened. We actually did well relatively well. We didn't do well. Absolutely. But we did less badly than everybody else. And, in investing the most important thing, right? There's three rules to investing rule. Number one, don't lose money rule number two, don't lose money rule number three, don't forget the first two rules and Roy Neuberger coined that phrase.And it's because of math. If I'm down 10, I got to be up 11. If I'm down 20, I gotta be up 25. I'm down 50. I gotta be up 100 to get even, God forbid you're like Russian market. I'm down 95 when it gets back to even which it will. Cause this has happened before. You'll be up 20 fold buying Russian equities. Great idea for the long-term not for the next week or the next month, but if you can buy spare bank at this price, you make 20 times your money, probably over a long-term period because you're down 95%. But that idea of avoiding the downside is what the endowment model is all about. And what happened though is after the gold financial crisis, the FED and other central banks around the world started pumping liquidity into the market. And that changed things. And what it did is it created this illusion that stocks, the S&P or going up every year. And so over the last 13 years has been pretty much a bull market in nominal terms, not in real terms, but in nominal terms. And maybe people not want to be value oriented. They want to be momentum players. They didn't want to take the long-term. They didn't want to make an investment today in a company that might take 10 years to harvest an S&P is up 15% every year. I'll just do that. So the endowment model kind of faded and can got out of favor and, necessity is the mother of invention that led us to say, all right, if nobody wants to think like long-term investors, then we'll find products that are, and the problem there was, we had an asset liability mismatch. We let people come out of the fund on any quarter, but we were making investments for long-term periods of time. And that doesn't work very well. It's like a bank. I give everybody, went to the bank to take their money. That's a problem. Cause there's not enough money for all the. Because they took $1 and lent it out 11 times and made lots of dollars. And there's nothing wrong with that. Fractional reserve banking is not in itself evil. It just, it operates on faith and custom where everybody doesn't run to the bank at the same time. And the same thing is true in long-term investments. If everybody wants their liquidity, they can't get it. So now we raise vehicles with longer-term lockups so we can focus on making those long-term investments.BZ: Interesting. Very interesting. So this kind of shifts and long-term cycle, or I guess midterm cycle, you were saying the 14 year investing in something that you're very convicted about, how did that fit into the endowment model or was that a kind of the next iteration for you?M: So it definitely fits into this endowment model of investing. But it was a discovery by being at the endowment actually. So I go back now and it's easy to tell the story because I grew up on the west coast. I grew up in Seattle and my dad sold and installed mainframe computers in hospitals. That's what he did cause they didn't have computers. And so if you go back to 1954, there was this innovation out in Boston, outside of route 128 around computing and suddenly companies could have computers. And 14 years later, there's an innovation out in Silicon valley on a microchip is suddenly computers can be smaller and companies like Intel and Cisco were formed and they did pretty well. Right then in 1982, 14 years later. And why it's always 14 years. I don't know exactly, but it's really because young people invent all the new stuff, because they don't know not to. And they don't know what they don't know. And so they just go ahead and do it. Marc Andreessen, 19 years old, he invented the browser. Larry and Sergei invented this company, Google, which I'll talk about in a second in their twenties. And so it's that young generation that gets innovation going. Cause the old guys are like, I'm fine. My flip phone is fine. I don't need a smart phone. And it's true. Confirmed myself that as I get older, but the key was I grew up in Seattle, many of my friends, they don't work anymore.They went to work for this little company called Microsoft. I was too stupid to do that. Now I defend myself saying if you've seen the picture of the original Microsoft 11, you wouldn't blame. Now there are multibillionaires. I'm not, I shouldn't make fun of them, but they looked pretty funny. We all looked bad in the seventies. Clothes were bad. Hair was bad. But look at the picture tonight, Google the original Microsoft 11, you go, oh my God, I wouldn't work for those guys either. So Steve bomber's mom said, honey, why would you work for that company? No one would ever want a computer in their house. He has 18 billion reasons. He was right. Mom was wrong. So 14 years later, I'm at my Alma Mater. I'm at Notre Dame and I'm working in the endowment office and we had the chance to make this investment in a company called Sequoia at the time. No one, not no one, but very few people knew who Sequoia was. It was not a famous venture capital fund. In fact, it was on the verge of failure because Don Valentine, the famous founder had hired this guy Michael Moritz, Michael was a wall street journal reporter. He had never done a deal before. The other partners like Don, what the hell? We're the future? Why are you hiring this kid? It turns out Michael turned out to be a pretty good investor, Yahoo, Google a few other things and maybe one of the greatest venture capitalists of all time, but we gave them 5 million bucks. They put half a million dollars in Google. And I actually remember. I remember saying guys, I don't get it. They're 20 search engines. There is web crawler and AltaVista and ask Jeeves, what do you need Google for? It's a stupid name. Now it's a verb, right? We totally reinvented search because Larry and Sergei young guys figured out that the way to do search is not to search the whole internet. There are 1.7 billion websites in the world. Half of them are owned by Google. What are you talking about, Mark? Think about it. When you start typing a question. They've set up a website for every question that has ever been asked. And as soon as you start asking the question, it directs you to a little tiny slice and they've already put all the information that you need to know. And sometimes maybe there's some bias, but that's how they do search and it revolutionized everything. And so we put in 500 K and we took out 200 million. So I now had this aha moment. This is a long story for an epiphany, but I had this epiphany that investing was about long-term investments in infrastructure companies around this cycle. And so 14 years later the mobile phone comes along and apple releases the smartphone The iPhone, their stock goes down 46. Think about this for a second. this iPhone and the stock goes down because people are never going to pay $500 for a phone.My flip phone is just fine. My Razor's awesome. Apple's now the biggest, most valuable company in the world. And I remember being back in Seattle at Craig macaws house, he was having an event for venture capital people. And Craig is a very famous pioneer in cellular telephony, the original flip phones. And I'm asked, as I asked his family office, guy said, do you think the mobile net will be as big as the internet? He's mark, you can me ask me if they want a computer? Yeah, whatever, ask them if they want a phone. Like I already have two, I don't need another one. So yeah, it's going to be a big deal. And what it did is it created the first network. 1 phone not valuable at all.2 phones, a little more valuable, 2 million phones, pretty valuable, 2 billion phones, really valuable. And the network effect is exponential and the people are bad at math. People suck at math, but that's just linear math. If I say what's two times two, both of you will say four. I say, all right guys, what's 17 times 23. I'll wait. That is the limit of human intelligence. The average person can not do 17 times 23 in their head. And so how are you at nonlinear? Exponential regression? Not very good. And so I do this challenge all the time. I say, take out a piece of paper, fold it in half, pull it in half again. I defy you to fold it seven times and it was a bag full of seven times. No problem. And they're like, whoa, okay. I can't fold it seven times. If you could fold it 20 times. It would be as high as your house. If you could fold it 30 times, it'd be the atmosphere. If you could get to 50, it'd be to the sun. And 100 is the known universe. So exponential growth is a really big deal. And so the network effect created these massive opportunities and the light bulb went off for me, just get in front of those waves. So buy things and you know how to find them, whatever the old people like me now say, will rot your brain or is a fad..anytime those two terms, come out, just buy it, tuck it in a drawer and go away.BZ: I love that guy that was going to be, yeah, that was going to be my follow-up ETF. And the 14 year pattern Have you seen that be very consistent? M: It's incredibly consistent and okay. What's amazing. So you went 1954 was the mainframe and they had four years, 1954 to 1958. We could make a fortune in deck and Wang and it's winching. Then you have a crash. Then 14 years later, 1968-1972 Intel Fairchild, et cetera. Then you have a crash then 1982 to 1986. Everything's great. Microsoft. Wintel. They have a crash then in 2010? No. Then in 1999, then in 1996, around the internet, 1996 to 2000, everything's awesome. Yahoo, eBay et cetera, Google, then you have a crash 2010 to 2014 to 2015. You have a little crash wasn't as big as the other crash, but there was a crash right now in 2024, which is the beginning of the blockchain era or the trust net as I call it. So the internet 1996, the mobile net 2010 and the trust net 2024. It's when everything in the world, everything in the world, everything of value, every stock, every bond, every currency, every commodity, every private piece of real estate, every piece of art, every collectible car, every private business, all $700 trillion of assets in the world will be tokenized. What does that mean? All a token is an entry on a block. It's an entry on a public ledger. That's all it is. It's not super crazy and exciting. It's really pretty simple, but it's code and we can trust code differently than we can trust people. And if you think about this, every technological evolution goes to making that trust in code better. When the internet first came out, people are like, I don't know what this thing isn't. It doesn't really work very well. And Netflix started a company and they're like, all right, we're going to use it. We're going to have video on demand. If demand is defined as four days, it took four days to download a movie. No one's going to wait four days to download a movie. So they almost went bankrupt and it wasn't until bandwidth was increased because South Korea innovated around broadband and suddenly you could deliver it in less than four days as a Netflix done pretty well. Pets.com. I'm going to deliver, pet food over the internet.Failed. It's the poster child of the failure of the internet, chewy.com. It's the same damn company, exactly the same, but we needed GPS tracking. We needed instantaneous access to information, to broadband. So it's these inflection points in technology and why they're 14 years. Again, it doesn't really matter, but it is very consistent. And so 2024, as great as it's been in blockchain and Bitcoin and all this other stuff, it hasn't even started. The players have entered the stadium, they're warming up. We haven't even played the National Anthem. And I was like, oh, it's the third ending? The eighth inning game. the game hasnt started.BZ:I think that's a phenomenal point because it's amazing how much we're already talking about Bitcoin and blockchain and web3. And it's The current figures are maybe 5% of the world has cryptocurrency. Like global adoption is still so early that it just seems like it's the next huge network effectM:If you overlay Mike, to that point, if you overlay the internet adoption and web three adoption or blockchain adoption, we're in 1997. Around the time when we invested in Google. And E-bay, I remember taking E-bay to our board at Notre Dame and they're like, let me get this straight. You want us to put money in a garage sale? Really? No. Think about this. So they were against it. The firm benchmark capital, some of the best investors on the planet they put in, they raised an $85 million fund, $85 million, not a lot of money. And they put a bunch of money into eBay, not all of it, but a decent amount. They took out $10 billion. The whole fund was a 96 X the whole fund. So she put it in a dollar, you got $96 back and on a garage sale company because people didn't get it or look at the market cap of PayPal today. And how many of the PayPal mafia are out there doing amazing things. humans are optimistic, right? If you weren't optimistic, you'd literally sit in your house in sheer shuttering because you wouldn't go outside. Cause you could get shot. He get eaten by a bear, all kinds of bad things could happen, but we're optimistic. And so we go on it's I always say, who was the third guy who went out to try to get a Mastodon with a spear? Cause the first two didn't come back. So who was the third guy who figured out, if he hit him right under the chin, you can kill the Mastodon. He was a hero, but, or who was the first person that tried surgery on without anesthetic before we figured that out. So we're optimistic and we try new stuff and that's good. And we have progress, but we're unable to imagine the unimaginable, right? We can't imagine. Right now we are talking to each other. We're actually, we're not talking to it. We're talking to a metal box, right? A metal and glass box. And it's coming in my glass metal and glass box into the airwaves, into a cell tower down through fiber optic cable out another cell tower into the airwaves, into your metal glass box and into your earphones in real time. Are you kidding me? I could imagine that 20 years ago, 30 years ago, no one. So it's really hard to invest for that long cycle opportunity set because you can't imagine. So who could imagine that money as we know it, which isn't money it's currency, the only money is gold because money is something exist in the absence of a liability dollars are not money they are currencies. But who could imagine that all of money will eventually be entries on a book? Not very many people. Yeah. It's amazing to me. And you spoke to this. The thing that we are the worst status imagining unimaginable, right? Cause we have a word for it that, that just goes to show you how big a bias it is.BZ: We have a word for it. It's unimaginable. And so I think the bias is to go, okay I can't do that. Or I guess the thought process is, I have this bias. I can't really know what's next because I can't see it. So therefore, I'm going to tighten my time horizon. I'm going to look for the short play I'm going to, and nothing against day-trading.I've seen it to be profitable, but I'm going to look for this short, interim intraday play or a week play or month play. At the expense of a longer term play, that may be an investment that may pay off 96X like, like the eBay story. And so it's a great, it's interesting that biting, there's nothing wrong with trading.M:There's nothing inherently bad about trading. It's hard. It's work and it goes to income and passive income and investing, we all work hard, right? We're doing what we do. We either create content or we manage somebody's assets or we make widgets, we all have this work that we do, but you think about it, the return on that, that work pales in comparison that if you can have something, take up a piece of real estate that you own, that someone else pays you rent and you make money while you're sleeping, it's actually a pretty cool or a Royalty. Think about Qualcomm that every time somebody builds an Android phone, they get paid. That's cool. And so they monetize their intellectual property and then you get into investing. Sure. If I can figure out if CEO, Adam tomorrow is going to wake up and do another great deal, like buying a gold mine, maybe I can get out ahead of AMC and it'll go up and I'll make some money, but what if he wakes up and he makes a bad investment, actually gold mines are usually are bad investments, but maybe this will be a good one, but what if it makes a bad investment? And it goes the other way. That's that? I don't have control of any of that, but if I can Intuit that, let's see. All right. Blockchain technology is really just an operating system for this injured, connected everything. Okay. That's interesting. So what makes money. When goods get traded marketplaces exchanges.So what if I just own a little piece of one of the exchanges like Coinbase, it doesn't matter if the price goes up, price goes down, people got to trade it. They take a cut. That sounds pretty good. If you look exchanges or there's the NASDAQ exchange with London stock exchange or the Brazilian , all of those have been great investments over the long term. Even the LME before they killed themselves the other day, by letting the Chinese billionaire say, "oh, I'm sorry. I know I lost money, but I'm not going to let you take it from me." And they screwed everybody else. Just mind numbing, how to destroy the capital of a business and one easy lesson, but there's time arbitrage. Right? There's short-term thinking I got this angry Chinese billionaire, right? Who's given us a lot of commissions saying he's not going to honor his margin call and I'll just cancel all the trades. That sounds good. Oh, shit. I just killed the golden goose because now no one will ever trust my exchange again, ever. Let's go to a different exchange. That's negative time arbitrage.BZ: So the way to, and I guess I, wasn't trying to position, day trading versus long-term investing because you're exactly right. They are very different. I guess my question that I was building to is with that bias in mind.How do we look at all of the trends that are out there, right? Because we could make an argument for metaverse right. that is the next 14 year cycle. Not withstanding there's crossover between the two, obviously, not withstanding that crossover. Okay. This is what I'm going to do. Or quantum computing, this is going to be the next large leap in computing technology. We're going to be able to calculate things we've never been able to before. So how do we think through these things that we might be seeing as trends or fads? And I like your rule earlier. Okay. "If some old fart says, oh, this is just a fad buddy, look into it." But how do we think through that? I tend to be more cynical. So I'm thinking, all right, great. We have all these trends. But how do we imagine the unimaginable? Sounds like a riddleM: it's the question that all of us should be spending at least a little time on, in fact, one of the best things to become a better investor is to spend some time every day or at least every few days just away. Not staring at your screen, take a hike, take a walk, meditate, whatever it is, and actually just think and try to cobble together these ideas because you're a hundred percent right. But the metaverse oh it's just Facebook. No, come on. Just think about that one for just one second. The metaverse is the decentralization of technology and the eraser of nation states and industrial conglomerates. That's clearly what the decentralized world is. So the idea of a centralized organization being the metaverse, it's an oxymoron it's jumbo shrimp, or military intelligence or whatever, and it just doesn't work. but the metaverse is big. Okay. So most, so maybe the metaverse is this next trend? And my 14 year cycle is all about computing power mainframes, microcomputers personal computers, internet mobile net trust net. And to your point, maybe the next is quantum net actually like that. I'm going to think about that a lot. Im going skiing next week with my son. So there are other cycles could be coincidence with the same 14 year cycle, or maybe they could be offset maybe within the 14 year cycle. There's a seven year offset for these other secondary or second order effects. Yeah, the metaverse is clearly something that, that is created out of this innovation around computing power. And so we do have to think, okay what does that mean? Does it mean I should invest in these centralized organizations that are renaming themselves? It's like when we were in long island ice tea named themselves long island blockchain stock went crazy for awhile, but what do you do? You don't do anything in blockchain. you make tea, but it's a great meme play, right? But they did it in 2000 and last bubble. I lived it and I, we invested in a company, true story called art technology group and what they did all this company. Did they help companies change their name to die? Because if you change your name to.com price went up. So these guys actually then listed as a public company. They were consulting company, long story short. We'd put some money in, through a firm called tutor ventures up in Boston. And our cost basis was 50 cents. The stock went public at a hundred dollars. Okay. So maybe 200 times our money. And I called the principal and I said, what should we do? He says, I'm an insider. I can't really talk. But I can tell you two things, revenue is 6 million market cap is 6 billion. And there was a silence. He's mark, did you hear me, Mike? Yeah. I heard you ı was like SELL, GET RID OF IT NOW! Here's the crazy part. It went to four. So it went down 96%. And I think about that at four, it was still an eight. Off our call list, but we sold at a hundred made 200 X. But the thing is that company didn't do anything. And these, so the third part of the question is, so you've got the main wave then how do you have then do you have these other opportunity waves, but then you got the scams that come into it that you want to avoid. So there's lots of crosscurrents and how you try to think about these big themes. But then the other thing is if you spend too much time thinking about it and not enough time acting on it, right yet, paralysis by analysis, you miss all the opportunities. And this is, to me, one of the things that's most, most important about investing is winning investors.Great investors lose more often than bad investors. They do win a lot, but they lose a lot. The reason losers, bad investors don't win or lose. They don't do anything. They're so afraid of losing that. They don't actually commit capital. So to your point, rather than try to figure out, do I, can I figure out which is the one I like to put bets and there are bets in a lot of different places. And then when things start to go double up, most people want to double down, right? When things go against them, they want to put more money in to prove that they're right in the market's wrong. The market is never wrong. The market is always right. You are wrong. And when we make mistakes, it's okay. As long as you Ralph. Okay. And we need to talk about this. Cause cause from Dean Smith and it's March madness and Tarell's play tonight, so recognize them. Not that hard. It's usually right in your face. Here's the hard part. Admit it. Yes. I made a mistake. there was a show on TV a hundred years ago called happy days. And there was this guy, Arthur Fonds rally, the cool guy. He said, Hey, and he couldn't say the word wrong. He couldn't say the word wrong. You got to say, you're wrong. Then you got to learn from it. Most important thing. And thinking investing is with every investment we get richer or wiser. Never both. We either learn something or we make money because when we're right, we don't actually analyze. We just say, oh, look how smart we are. Whoa, of course it was so good when you lose money and then you've got to forget it. And the forgetting is really important. And this goes to the other great coach who is still in the tournament as well. University of duke at Durham down the street, coach K has this great line. He says, you know what? Separates great. Players slash investors from the average? No, he says the greats focus on the next play. Watch the tournament game tonight and see how many times did you, so miss a shot go down and commit to a stupid foul. Cause they're thinking about the shot, a great player, doesn't even remember taking the shot, goes back, plays good, different defense steals A ball makes a layup.Bad investors they're constantly focused on, oh man, I'm a mistake. And I just can't believe it. It. Got to learn from it, but you got to erase it, forget it and go get the next up.BZ: Individual plays versus ETFs?M: You guys probably both play Fortnite. I watched my son play Fortnite. Does he take a shotgun or a sniper rifle? He takes both. Cause a shot is really good in some situations and the sniper is really good at another. So yes, the answer is yes. You definitely want a spray and pray and the whole spray and pray.I prefer spray and then water, the seeds that start growing. Okay. That's better to me and I pray a lot too, but hope is not an investment strategy. Hope is a four-letter word, particularly in investing, but the sniper rifle a hundred percent. And here's the thing. If you're willing to do the work, the sniper rifles really awesome, because if you actually will do the work that most people won't, then you get a better shot. And if you take that better shot, you can make a lot more concentrated portfolios, make you rich. Every great fortune in the world came from constant. Concentrated stock position, concentrated real estate position, contrary to business ownership, every fortune start with concentration. Now the joke is how do you create a small fortune start with a large fortune and stay concentrated, concentrated long enough competitors will come up and chip away and take all your wealth. So diversification keeps you rich. So if you are in the business of making money, which when we're young, we should be and ice. And I'm really good at talking because I sucked when I was young. I didn't do any of this stuff. I talk about. In fact, I sent a pre out to myself the other day, maybe a year ago, advice to my younger self, all the things that I did wrong, that I want people not to do wrong. And the key somebody asked me, how do you become a better investor in. Like all the time, a lot, like all the time and do the shotgun and do the sniper. And, but when it goes against you just move on, just sell and move on. And when things start going, don't pull your weeds. Don't pull your flowers, right? Peter Lynch has this great line. He says, investing is super simple. You pull your weeds and you water your flowers. But he says, the average investor does the opposite. They pull their flowers. Cause they're so afraid to loosen and they water their weeds because they want to prove they're right. Soros is not whether you're right or wrong. That has nothing to do with anything. It's how much money you make when you're winning, how much money you lose when you're wrong. And if you can constantly minimize your loss. First loss of the best loss and let your winners run and then do that work so that you think about a sniper. You guys have seen the movie sniper? .Does he just like randomly pull the thing out of his bag and then start shooting? No, he plans. He sets the stage. He gets where no one can see him. He's got the stuff, the cammo on. He lines up the shot, he waits and he makes the kill. So it's not like that's planning. And so if you do the work you set the stage, you do the plan, you get the cammo, you get the right rifle. You get the right ammunition. Yeah. You'll make some, you make some great investments. But that does mean an ETF is bad. Now the problem, the only thing on ETS, just make sure they actually do what they say they're gonna do in what you name the ETF. So you could have value ETFs that are filled with 30 times revenue. These is crap companies. Yeah. It's not value now, but the new value when it goes down 95%. But, and again, this personal experience. So when I, my first job, I had a 401k and, we had six options and one of them was the blue chip growth fund. And I had a thesis that the world was going to get lousy. This is back in 1991, 1992. Oh, we're going to have recession. I'm like, I'm going to put my money in the high quality blue chips. So I moved all my money there and we had the recession just like we thought, and this thing went down 40%. What the fuck? Probably shouldn't say that, but what the hell? And I go on, I look and it says in the footnotes though, "the blue chips of tomorrow" What the hell? This is my fault. I didn't read. I gotta pull that prospectus.BZ: It's interesting. I want to go back to what you said earlier, And I agree with everything you said, and I think it's actually one of, one of the episodes we recorded about two months ago. At this point we talked about just thinking about. How you invest in approach money and what are your biases and knowing yourself. And so for me, I know that I am very bad at acting quickly.I take, and I do the analysis paralysis. For me at certain points and this is one of them right now. I don't have the time to go and research and then implement and act quickly. Cause I know I won't. So I'm just going to buy a bow broad basket for now and hold it. And then like you said, in your answer, there's different ways to double down and concentrate, right? Whether that's your skills, whether that's, I'll say starting a business, right? So there are different ways to think about investing, especially as an individual. And so I, I'm interested to hear what you would say about the asset allocation portion that you said earlier, that's almost more important than picking the winners and losers because it seems like you can build a great portfolio that has a phenomenal asset allocation out of individual stocks, right? And individual positions. You can also do it with ETFs and it might be easier for the individual to do that. Factor in a lot of things. You've got to do your research on those ETFs. You can't be buying on the name of the tick thing, but it's that's the answer more than one or the other, right?M: Yup. No, you're a hundred percent right. Austin and the ETFs are an amazing tool because they give you big swaths of the canvas. So if you think of a canvas and it's got all the different colors all over and, international and emerging markets and developed markets and equities and fixed income and commodities and currencies and derivatives and leverage and all the things that you need to build a diversified portfolio. Using individual securities, you can do it. It's hard, like super hard because you got to decide, okay, I want autos, but do I want European autos or Japanese autos? Or, what about this Tesla thing? Is that really a car company? Oh, I thought it was a software company. It's a car. It sits out, it collects dust, just like every other car. And, oh, by the way, you're only in your car 3% to 4% of the time. Think about that. You're inside your car 3% to 4%. So I would say don't spend a lot of money on cars unless you're like really into cars. But the interesting thing about all of this is how you build that portfolio is important. So if you think about the four steps of investment asset allocation, manage your selection, portfolio construction and security selection. So the 85% is in those first three, that is the allocation piece. And then the security selection piece is the 15%. So it really doesn't matter over the term, whether you own Ford or GM, it actually doesn't. In short periods of time, it can matter a lot for sure. But over long periods of time, it's less important than knowing should I be in automobiles or should I be in flying cars or should I be in, whatever. So the big picture asset allocation, should I be in stocks or bonds? Credit or equity, should I be in currencies or commodities? Should I be long biased or should I be long short? Should I be fully hedged? Should I be in cash? Should I be in, in emerging markets or international? Where's the growth, all of those big pictures. It's those asset allocation decisions are really important. So that's where I always start. And I try to come up with five big themes 10-year trends that I think are going to drive investment and growth. And one of mine is the middle classification of the emerging markets, right? There's about 3.5 B that live at middle-class or below around the world. Most of them in Southeast Asia and. Most of them are going to move up. And it's just math got to move up. Now, China alone, China took 750 million people out of abject poverty and put them in the middle-class over the last 30 years. I don't know. Maybe those people that want to move up. They've seen Dallas. They want that life. So there's probably some opportunities in retail and consumer in China over the next. Give or take giving us the size of the U S and Europe put together. So that's a big thing. How do you play that theme? I could buy a and have bought this ETF called K web. Why? Because it owns technology companies that are making those middle-class lives better now marked I think is down 90% in the last year. Yup. So I bought it two weeks ago because anytime something's down that much, you gotta buy it. It doesn't matter what it is. If something's down 90%, you got to buy it. And so how else would you play the growth? The Asian consumer commodities is going to be more in demand. So I play it that way. Then you got to say how am I going to implement? That's the manager selection piece. So manager selection. I could do it myself. I, Mike and I could go decide, we're going to go rifle, shoot. We're going to sniper. And we're going to pick the stocks. SoI'm going to buy Alibaba. I'm going to buy jd.com. Totally fine. Totally acceptable. But what if we miss Mae Twan? What if we miss Pendo that K web is going to have them all. So that's outsourcing the manager to the group. That's doing that. Now the challenge with that is you got to pick between the managers and Howard marks has this great line. He says the problem with picking managers and picking people to manage your money is you have to decide between the good person who sounds good and the bad person who sounds good. They don't let the person who sounds bad, make the presentation. And it's so true. They all sound awesome. But then there's portfolio construct. This is, let's say I pick 10 things, either individual stocks or ETFs or hedge fund managers or mutual funds. I got 10, 10%, each 50% to one and 5% to the others that matters. It matters a lot actually. And there's capitalization waiting. There's equal waiting, there's rebalancing or not rebalancing. So all those portfolio construction things matter. Now the nice thing is most of us, we have lives. So it's like the cobbler's kids who have no shoes. We intend to manage our portfolio and we intend to rebalance and we intend to do all the work, if I look at my IRA, I have this little IRA from your way back when, and I look at that relative to the things that I do, or I just put it in my funds that are managed by people in my firm. It ain't close. You have all these great ideas. Why didn't you just put them in your IRA? Because I got busy and I didn't do it. And I wasn't smart like Peter teal to put in, private shares, which is what I really should have done, should put private shares at Morgan Creek. And then I should have written them down to the, basically zero in the global financial crisis like he did. And so then he gets this big basis and it created billions of dollars. Now I wouldn't have created billions of dollars, Peter is a genius. He's a mad genius, but anyway, so it's a long way of saying allocation first, spend your most time there because it's the most impactful. And particularly for younger investors, I have this thing that don't listen to anything I, or any other pundit on diversified portfolios and portfolio management. Under 60 years old, don't listen to that. Just concentrate on venture capital, equities tech. Like I believe it's not hyperbole. I believe it should be against the law for 25 to 65 year old people to own bonds. It is the waste of time and money. You don't need the volatility reduction because your volatility reduction comes from your future earnings. That is your fixed income.BZ: What are your emotions and feelings looking at blockchain now? Is this kind of is this really exciting?M:Oh, my God. It's the greatest look. It's the greatest wealth creation opportunity. I'll see in my lifetime and I'm gonna be around a long time. I got an 11 year old still. So I, I have this funny thing, we're a good Catholic family. I joke we had nine. We just skipped the middle six. So we have two older kids and a baby. And so we're going to be, I'm going to be around a long time. We'll be working for a long time. And so I'm not going here, but this is the greatest wealth creation opportunity I've ever seen because we're building on great tech. When you built the internet, you were building on shitty tech client server technology is really bad when you built the mobile net. You're building on pretty good tech. The internet was pretty good, but now you're building on top of an installed mobile net infrastructure. That is extraordinary and blockchain is a technological advance that is not linear, but exponential. So all these things are incredibly powerful. So I look, I got exposed to blockchain and Bitcoin in 2013. I didn't understand it. And so I was not a cryptography student and I missed it. I got blockchain, I got infrastructure my whole 14 year cycle thing and have done quite nicely. We've made good investments in infrastructure but I missed the opportunity of, a generation to really be early in, in behind joke that I got introduced to it the same month as the Winkle vie. And they're multibillionaires and I'm not. but there's a movie called the graduate and the graduate. There's a scene where he's asking his uncle for advice is one word plastics, go into plastics, which was good advice in the sixties. And today I said one word, "Jack blockchain go out to California. He wanted to live in San Francisco, said, go work at Coinbase." And he goes out and he interviewed and talks to people and it's I don't know, dad, maybe it's gonna be a big deal. I'm just going to KPMG safe. Gets me to San Francisco. " you're going to hate it whenever he did hate it. Quit after nine months" Coinbase goes public. Cause I find the right should have gone to Coinbase, but not as bad as you think you are. I might go, oh, do tell. I told you to go to quit, but you didn't lever up the house and put on Bitcoin. I'm like, "oh you a little shit." Okay. That's fair. No, one's crying for my son. Cause he works for snowflake and he's doing great, but, and I'm really proud of him, but I think it's interesting. It's a long winded way of saying I have never been more excited in my life. I've never had this much fun in my whole career and I loved my career. I loved every stage of my career. But my career has been in chapters, right? Chapter one, I work for not-for-profits. I was an allocator. I had fun. I loved it. I got second income working for the universities. Chapter two, I built a really nice asset management company, Morgan Creek, capital chapter three three years into a 20 year stint of tokenizing the world. And I really am having more fun. Now I get to hang out with young, smart, really creative people. I'm seeing technological innovation like the world has never seen. I now spend all my time doing venture capital, which has just so much fun backing founders and watching them build things. And it's, again, back to that long game, if you think that there are only four ways in the world that you can make money, all four require you to take risk. If you leave your money in cash, you get the risk free rate. Hence the name because you're not taking any risks. And unfortunately, if you do that, all your wealth is chewed up by inflation, right? Leave your money in the bank today, you get less than one. Inflation is eight, that sucks. So you gotta take risks. You can take credit risk, first risk.You can buy a bond. Now bonds are an actual claim. If you don't get paid, you can Sue pretty good deal. But you don't get paid a lot. You can take 2% above Risk-free rate not a very good deal. Look at bonds day, 2.4%. Woo big deal. And then you can take equity risk. Second risk equities are contingent claim. Meaning you only get paid if all the bond holders get paid. And so that's, that makes 7%above risk free rate. That's pretty good. So equity should be at the core of your portfolio. Then you can take illiquidity risk, private investments, private equity, private real estate, private equity, private debt, better get 5% more, 12% above risk-free. Awesome. 14, 15% compounded venture capital, even higher. And then you can use structure or leverage and leverage cuts both ways. Sometimes it's good. Sometimes it's bad, but illiquidity and venture capital and innovation as an asset class. And for all the ribbing she's taken, Cathy Wood is exactly right. Innovation is an asset class. It is where you want to invest for the longterm. And that's what I'm doing right now.BZ: That's amazing. Mark. It's been so good to have you on, I know we're running out of time here. But it's just been an absolute pleasure for both myself and Austin. Thank you so much for the time.M:I appreciate you guys having me on the show. I love this. That you guys are doing a show on the longterm, instead of all the day trading stuff again, nothing wrong. Day-trading totally fine. But sometimes you got to step back, take a hike, think big thoughts and really enjoyed the conversation to appreciate all your hard work, getting ready for it. And we'll talk again soon.Support this podcast at — https://redcircle.com/the-long-run-show/donations

Mark Yusko speaks to Michael Bissmeyer, Director and Head of Trading at Exos Financial, on the topic of the SPAC markets and SPAC arbitrage. Michael grew up with the drive to compete. This has not stopped, and is just one part of what gives Exos an #Edge in the SPAC trading world. You'll hear about the nature of these SPACs, from his perspective, making a bet on exciting teams while being protected by the assets in the inviolable trust and the interest that grows. Listen in to hear more about how this works.   To learn more about SPACs, Morgan Creek, and the investment solutions we offer, visit us on the web at https://www.morgancreekcap.com or contact us at IR@morgancreekcap.com.    

Mark Yusko and Ted Seides discuss their history, similarities in background and career and investment ideas. Mr. Seides, who began his career at Yale University Investments Office and later was the founder of Protégé Partners LLC, has, in Mark's opinion, pioneered the endowment model of allocating capital. They discuss their perspectives on how to allocate capital, how to learn from that capital allocation, and how to seek innovation in financial services. Listen in to hear, among other topics, a lively discussion about how to take advantage of the structural arbitrage in the SPAC vehicle.   To learn more about SPACs, Morgan Creek, and the investment solutions we offer, visit us on the web at https://www.morgancreekcap.com or contact us at IR@morgancreekcap.com.

Today, I welcome Mark Yusko, the Founder, CEO & Chief Investment Officer at Morgan Creek Capital Management and Managing Partner at Morgan Creek Digital Assets.He currently manages close to $2 billion in discretionary and non-discretionary assets at Morgan Creek. He's known for his unique investment strategies and interest in emerging asset types. One of the cornerstones of the morgan creek investment philosophy is to invest in innovation.In this interview, we discuss the current macro environment, Canada freezing bank accounts, why inflation is theft, and CSH a new ETF by morgan creek which offers the safety of t-bills but also the opportunity to generate a decent return.Enjoymorgancreekcap.com@MarkYuskoThanks to Cofruition for consulting on and producing the podcast. Want further Opto insights? Check out our daily newsletter: https://www.cmcmarkets.com/en-gb/opto/newsletter------------------Past performance is not a reliable indicator of future results. CMC Markets is an execution-only service provider. The material (whether or not it states any opinions) is for general information purposes only and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction, or investment strategy is suitable for any specific person.The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although we are not specifically prevented from dealing before providing this material, we do not seek to take advantage of the material prior to its dissemination.CMC Markets does not endorse or offer opinions on the trading strategies used by the author. Their trading strategies do not guarantee any return and CMC Markets shall not be held responsible for any loss that you may incur, either directly or indirectly, arising from any investment based on any information contained herein for any loss that you may incur, either directly or indirectly, arising from any investment based on any information contained herein.

One of toughest challenges for advisors and their clients is the relentless downward pressure on interest rates. It has pressured savers to stretch for yield and take incremental risk for the safest portion of their portfolios.  Morgan Creek and Exos have a long history of providing innovation investment solutions to address the most pressing challenges in markets.  Taking advantage of structural arbitrage has long been a preferred method of earning consistent returns. Morgan Creek and Exos have collaborated to deliver an investment opportunity to capitalize on a unique structural arbitrage in the SPAC markets.  CSH is an investment vehicle engineered to provide all investors access to the types of arbitrage strategies normally restricted to accredited investors and qualified purchasers.

Josh Jalinski, The Financial Quarterback, is joined by Mark Yusko, Founder, CEO, and Chief Investment Officer of Morgan Creek Capital Management. Prior to forming Morgan Creek in 2004, Mark was President, Chief Investment Officer, and Founder of UNC Management Company, the Endowment investment office for the University of North Carolina at Chapel Hill, from 1998 to 2004. Until 1998, Mark was the Senior Investment Director for the University of Notre Dame Investment Office where he joined as the Assistant Investment Officer in October of 1993. In this segment, Josh and Mark discuss Bitcoin and how it's considered digital gold. Will bitcoin accelerate the decline of the American Empire? Listen and find out. Listen to the Financial Quarterback live every Sat/Sun 9am EST on WOR AM710. Follow Josh on Facebook, Twitter, and YouTube. Visit Jalinski.org for more information, and pick up his latest book, Retirement Reality Check now.

Josh Jalinski, The Financial Quarterback, is joined by Mark Yusko, Founder, CEO, and Chief Investment Officer of Morgan Creek Capital Management. Prior to forming Morgan Creek in 2004, Mark was President, Chief Investment Officer, and Founder of UNC Management Company, the Endowment investment office for the University of North Carolina at Chapel Hill, from 1998 to 2004. Until 1998, Mark was the Senior Investment Director for the University of Notre Dame Investment Office where he joined as the Assistant Investment Officer in October of 1993. In this segment, Josh and Mark talk about the ability to create wealth in today's world. Listen to the Financial Quarterback live every Sat/Sun 9am EST on WOR AM710. Follow Josh on Facebook, Twitter, and YouTube. Visit Jalinski.org for more information, and pick up his latest book, Retirement Reality Check now.

Josh Jalinski, The Financial Quarterback, is joined by Mark Yusko, Founder, CEO, and Chief Investment Officer of Morgan Creek Capital Management. Prior to forming Morgan Creek in 2004, Mark was President, Chief Investment Officer, and Founder of UNC Management Company, the Endowment investment office for the University of North Carolina at Chapel Hill, from 1998 to 2004. Until 1998, Mark was the Senior Investment Director for the University of Notre Dame Investment Office where he joined as the Assistant Investment Officer in October of 1993. In this segment, Josh and Mark discuss the rise of the Chinese empire and their plans to become a global superpower with chips and AI. Listen to the Financial Quarterback live every Sat/Sun 9am EST on WOR AM710. Follow Josh on Facebook, Twitter, and YouTube. Visit Jalinski.org for more information, and pick up his latest book, Retirement Reality Check now.

Josh Jalinski, The Financial Quarterback, is joined by Mark Yusko, Founder, CEO, and Chief Investment Officer of Morgan Creek Capital Management. Prior to forming Morgan Creek in 2004, Mark was President, Chief Investment Officer, and Founder of UNC Management Company, the Endowment investment office for the University of North Carolina at Chapel Hill, from 1998 to 2004. Until 1998, Mark was the Senior Investment Director for the University of Notre Dame Investment Office where he joined as the Assistant Investment Officer in October of 1993. In this segment, Josh and Mark talk about Zoom and how it has contributed to the market since Covid. Listen to the Financial Quarterback live every Sat/Sun 9am EST on WOR AM710. Follow Josh on Facebook, Twitter, and YouTube. Visit Jalinski.org for more information, and pick up his latest book, Retirement Reality Check now.

On the last episode of 2021, I share 10 lessons from my first two years as a city commissioner. Plus a recap of some of our recent commission discussions, including the body camera contract, last week's water workshop, the expanded Morgan Creek development and more. Hosted on Acast. See acast.com/privacy for more information.

In this inaugural episode GP's Mark Yusko, Xavier Segura and Sachin Jaitly welcome listeners to an entertaining and informative podcast where they discuss their backgrounds prior to launching their latest Venture Capital Fund, the story of how Morgan Creek first met Xavier and Sachin, Xavier/Sachin's thoughts on Blockchain technology and Mark shares what's to come on the podcast from CEO interviews and thought leadership to News & Opinions.

Mark Yusko welcomes Ryan Martin to the podcast in this episode. Ryan is a business leader who has chosen to use a SPAC merger as the preferred method of going public. Listen in to hear about his company, Fathom Digital Manufacturing, as well as what drove Ryan to become interested in using a SPAC merger to go public. You'll also hear about how innovation has shaped his career and what investing in innovation has done for him and his company. In Ryan's own words - Embrace the uncomfortable. Love the process.   We hope you enjoy this episode.     To learn more about SPACs, Morgan Creek, and the investment solutions we offer, visit us on the web at https://www.morgancreekcap.com or contact us at IR@morgancreekcap.com

Mark Yusko speaks to Sanjay Subhedar, Managing Director of Storm Ventures, about his decades long experience in tech before becoming a venture capitalist. Sanjay reflects on his early investments in innovative technology and particularly his understanding of networks. In addition, Mark and Sanjay discuss the life cycle of a SPAC and the benefits of SPACs as well as other ideas about the companies and industries of the future.   If you want to know why there may be a structural positive bias to the value of the warrants tied to a SPAC or value in the types of companies that pursue SPAC mergers, this podcast is for you.   To learn more about SPACs, Morgan Creek, and the investment solutions we offer, visit us on the web at https://www.morgancreekcap.com or contact us at IR@morgancreekcap.com.

In this weekly round up Mike welcomes new co-host Mark Yusko of Morgan Creek to the mix. Mike and Mark discuss expensive equity market valuations, slack in the labor market, John Paulson's comments on crypto, Gary Gensler's comments on crypto, and FTX.US plans for world domination. --- On the Margin is brought to you by Matrixport, Asia's fastest growing digital asset platform. With $10 billion in assets under management and custody, it provides one-stop crypto financial services with over $5 billion in average monthly trading volumes. The offerings include Cactus Custody™, spot OTC, fixed income, structured products, lending as well as asset management. Download the Matrixport App now to earn 30% APY on USDC. Learn more at https://onthemargin.link/matrixport --- If you like this episode be sure to subscribe to our newsletter at https://blockworks.co/newsletter On The Margin is brought to you by Blockworks, a financial media brand delivering breaking news and premium insights about digital assets to millions of investors. For more content like On the Margin, visit http://blockworks.co/podcasts.

In this episode of SPAC #Edge, Mark Yusko speaks to a SPAC sponsor and the CEO of a company that went public via a SPAC. Laura Niklason, MD., PhD., founder and CEO of Humacyte, a clinical-stage biotechnology platform company, and Rajiv Shukla, CEO of Alpha Healthcare Acquisition Corp, provide their unique perspective of the SPAC process from each side of the SPAC structure. Humacyte, a first-in-class business and the ideal type of business for a SPAC, recently completed a merger with Alpha HealthCare's SPAC.   You'll hear about their experience around the SPAC merger process and how science fiction, in their experience, truly became science fact.   To learn more about SPACs, Morgan Creek, and the investment solutions we offer, visit us on the web at https://www.morgancreekcap.com or contact us at IR@morgancreekcap.com.

In this episode of SPAC #Edge, Mark Yusko speaks to John Wu, a fintech executive and technology investor, who has been in the hedge fund industry for over 20 years. John shares how his competitive nature and ability to analyze, anticipate and visualize the future in his formative years was the pathway to his career in finance and eventually into the SPAC space. You'll hear John's take on what makes SPACs so special and how he became interested in them over the years, from 2015 when the rules changed to present day. One of John's objectives is to allow the average investor to gain access to companies of the future, and in this episode, you'll get a glimpse of how that's possible.   To learn more about SPACs, Morgan Creek, and the investment solutions we offer, visit us on the web at https://www.morgancreekcap.com or contact us at IR@morgancreekcap.com.

Burke Koonce and John Fichthorn discuss the latest topics of interest in politics, financial markets, and the cultural forces that shape the world around us.John, who is executive chairman of Maven, owner of TheStreet.com among other media properties, and Burke, who runs the Capitalism Maven site for TheStreet.com, have a long history together discussing markets, politics and contemporary subjects. In this episode, we are joined by Mark Yusko, founder and chief investment officer at Morgan Creek Capital Management. Prior to founding Morgan Creek, Mark was previously the chief investment officer for the endowment at the University of North Carolina at Chapel Hill. More recently, Mark has taken the crypto plunge.No discussion of politics and markets can ignore the presidential election and the controversy surrounding it, and John points out that the excessive political theater stoking doubt in our nation's institutions could give rise to doubt in our currency, could also stoke inflation fears. Of course, this would have enormous ramifications for the Fed, for financial markets and for cryptocurrencies. Mark believes that cryptocurrencies, especially Bitcoin, will become an important part of everyone's financial future. This rabbit hole goes deep. Who are the Mad Hatters in this story, the crypto enthusiasts or the central bankers? How is crypto like gold and how is it different? Will it really be around in 5,000 years? Which cryptocurrencies will have staying power?This is our most fun discussion to date. There was a lot to unpack; we will have to visit with Mark again because we could have talked all day and almost did.As always, there's a Betting On Zero tie in. Mark was with us at Tribeca Film Festival, watching the film premiere back in 2016, and even has a credit in the film for being a good friend to us during production. The other tie-in is our discussion of “The Big Lie,” a line Ackman uses to describe how corporations get away with seemingly obvious impropriety. In this case, we apply it to the narrative that the election was stolen, with twists and turns along the way.We hope you enjoy this lengthy but action-packed episode. 

Our guest today is Mark Yusko, Founder, CEO and Chief Investment Officer of Morgan Creek Capital Management, which manages close to $2 billion. He is also the Managing Partner of Morgan Creek Digital Assets. Prior to founding Morgan Creek, he was CIO and Founder of UNC Management Company (UNCMC), the Endowment investment office for the University of North Carolina at Chapel Hill.   In this episode we discuss his transition from running UNC's endowment to starting Morgan Creek with the help of Julian Robertson, why his recent road trip across the country leads him to believe the U.S. recovery is not going well, the benefits from using Twitter, and his elevator pitch to advisors on why bitcoin belongs in everyone's portfolio.   Our local co-host today is Chris Cannon, CFA, Chief Investment Officer at FirsTrust and board member for CFA Society of Orlando. Please enjoy the episode.  Follow the CFA Society of Orlando on Twitter at @CFAOrlandoFL