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Nico Rosberg on the Booming Business of F1 | All-In Live from Miami Podcast Episode Description
(0:00) The Besties welcome Nico Rosberg!
(0:27) Nico’s history with F1, what makes a great driver
(6:24) The business of F1
(10:05) Teammate rivalries, why “Drive to Survive” works, future growth
(16:48) Post-F1 career, best angel investments, becoming a VC
(22:16) Partner shoutouts: Thanks to OKX, Circle, Polymarket, Solana, BVNK, and Google Cloud!
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Check out Circle: https://www.circle.com
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Nico Rosberg on the Booming Business of F1 | All-In Live from Miami Podcast Episode Top Keywords
Nico Rosberg on the Booming Business of F1 | All-In Live from Miami Podcast Episode Summary
In this podcast episode, the discussion revolves around the business dynamics of Formula One, the impact of media on sports, and the transition of athletes into venture capital. A significant portion of the conversation focuses on the evolution of Formula One as a business, highlighting the introduction of budget caps that have transformed the financial landscape of the sport. The speakers discuss how these changes have made the sport more sustainable and attractive to investors.
Nico Rosberg, a notable guest and former Formula One World Champion, shares insights into his transition from racing to venture capital. He discusses the appeal of investing in technology and startups, inspired by figures like Elon Musk. Rosberg emphasizes the importance of leveraging his sports background to build connections and opportunities in the business world.
The episode also touches on the influence of media, particularly the Netflix series “Drive to Survive,” which has significantly boosted Formula One’s popularity by showcasing the personalities and behind-the-scenes drama of the sport. This approach has been less successful in other sports like golf and tennis, suggesting that the unique characters in Formula One played a crucial role in the show’s success.
A recurring theme is the changing consumption patterns of sports audiences, with younger viewers favoring short clips over full games, impacting sports like baseball and basketball. The speakers discuss how sports need to adapt to these shifts to maintain engagement.
Actionable insights include the importance of storytelling in sports media to engage audiences and the potential for athletes to transition into business roles by capitalizing on their unique experiences and networks. The episode concludes with a nod to upcoming events and partnerships, highlighting the ongoing evolution of sports and business intersections.
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Nico Rosberg on the Booming Business of F1 | All-In Live from Miami Podcast Episode Transcript (Unedited)
Speaker: 0
00:00
Former f one driver champion in 2016. He’s getting into the venture business. Please welcome Nico.
Speaker: 1
00:07
They started the season with 20 ai, and they would end the season with only 18 of them left. Wow.
Speaker: 0
00:12
What was the craziest you’ve ever
Speaker: 1
00:14
been involved in? Well, my my rival was my teammates. So unfortunately, it really becomes like an enemy in a way.
Speaker: 2
00:20
What were your first few deals?
Speaker: 1
00:22
11 laps for example.
Speaker: 2
00:23
Holy shit.
Speaker: 1
00:24
Good for you.
Speaker: 0
00:27
This used to be an extremely dangerous sport. You had people dying every year in these tiny little cars with no roll cages etcetera. But over time, it’s become incredibly safe. The number of people dying went from, you know, a couple dozen a year in the ’50, ’60, seventy’s and and now it’s gotten incredibly safe.
Speaker: 0
00:46
How scary is it to drive in those cars and how do you get over that fear of death?
Speaker: 1
00:53
First of all, hello everybody. That’s a pretty that’s a pretty intense start to the to the conversation.
Speaker: 0
00:58
I just I
Speaker: 3
00:59
I’m so glad you’re the part. Interviewing Jacob. No. I mean, real best.
Speaker: 0
01:03
I I I gotta get right to it.
Speaker: 3
01:05
Like, how are you Like,
Speaker: 0
01:05
how are
Speaker: 3
01:05
you the mood.
Speaker: 0
01:06
How are
Speaker: 3
01:06
you still alive? Yeah. Welcome. How are you?
Speaker: 2
01:09
Why haven’t you died
Speaker: 0
01:10
meh? No. Ai. I looked at that car.
Speaker: 2
01:12
Ai yourself. Yeah.
Speaker: 0
01:13
Why is there no canopy on it? Why are your head exposed? It’s so crazy what you’re doing or what you did.
Speaker: 1
01:20
So no. You’re absolutely right. And I know, better than most people also because my father actually was a formula one racer. Yeah. And he was racing And a world champion.
Speaker: 2
01:28
And a champion.
Speaker: 1
01:29
I didn’t sana say, but, yes,
Speaker: 4
01:30
he was also world champion. But you’re you’re sorry. I asked you backstage. You’re one of only two father sana world champions of
Speaker: 1
01:37
all time. That’s true. Yeah.
Speaker: 3
01:38
Pretty incredible.
Speaker: 1
01:38
Which is, very special.
Speaker: 0
01:40
So Ai mean, your dad’s out there racing. You’re at home with meh, I assume. This has gotta be terrifying to watch your dad do this.
Speaker: 1
01:49
So at it in his day, they started the season with 20 drivers and they would end the season with only 18 of them left. So it was a 10% chance more or less that you wouldn’t make it through the season, which is just that’s crazy. Wow. I meh, what are then if you do an eight year career ai what are your odds? Like that’s not looking very good. So they’re to your point.
Speaker: 0
02:10
Yeah. It was the death every hundred thousand ai. Now it’s a death every six seven million miles.
Speaker: 1
02:15
I was very lucky because by the time I came in, they had carbon fiber chassis. They had roll they have a roll hoop now, you know, and this, this protection, this halo around your head, which recently saved a couple of lives in the last five years. Because sai for stopping who’s now the, the, the four time world champion at the moment, he landed on Lewis Hamilton’s head in Italy with the full car.
Speaker: 1
02:41
And it was this halo that saved Lewis Hamilton’s life. So we’re very, very lucky how the sport has progressed, with the safety.
Speaker: 4
02:48
How did you start ai how old were you? Because, I didn’t realize yesterday Ai go into the suite that we have, and they say this kid is 18 years old as a driver. I had no idea that kids that young were driving. How old were you when you arya, and at what point did you start to become competitive?
Speaker: 1
03:03
So it’s a bit like with with every sport that you have to start very, very young. Yeah. I started I was six. Started go karting on six and then racing 10 years old. Now they start racing at year at when they’re eight years old. So Antonelli, who was on pole position yesterday, the 18 year old
Speaker: 3
03:19
Yeah.
Speaker: 1
03:20
He started racing. He was eight. He was in my go karting team when he was 12. So I know him very, very well. And he is a generational talent, but it’s very early for him because he’s only 18. And he he took over the car of the greatest of all time. Lewis Hamilton left Ferrari left Mercedes to go to Ferrari, and Antonelli took this car from Lewis Hamilton. That is insane pressure.
Speaker: 2
03:45
Answer this question if you could. You said generation I’ll
Speaker: 1
03:48
try my best.
Speaker: 2
03:50
So if we had to design some kind of a model, you could you define the features that he had when he was six, seven, or eight years old that could have predicted how
Speaker: 0
04:02
good it was?
Speaker: 4
04:03
Ai, is it the midichlorian?
Speaker: 1
04:04
Like So Is it the ones?
Speaker: 4
04:06
Well, Anakin Skywalker was really good.
Speaker: 0
04:09
I don’t know Nico. I’m a ai on Shah Wars saloni.
Speaker: 4
04:13
But you yeah.
Speaker: 0
04:14
Anyway The midichlorian ai the GIT. Do you
Speaker: 2
04:16
think that you could design something where people’s kids could come and take some kind of test. You look at your reflexes or your, you know, your Ai twitch speed or the way your brain works. And is there a pattern do you think that is genetically predisposed predisposes some people to just be exceptional?
Speaker: 1
04:34
So we’ve not come to that point yet that we actually go through such tests, but I think there are a couple of things that would that would kind of satisfy that. And one is your speed of processing because in a race car, you’re going at 220 mile an hour and you have so many inputs flying at you.
Speaker: 1
04:51
And not only visual, also sensual, meh, everything, and also sound, with the engine and everything. And you have to process that so rapidly.
Speaker: 2
04:59
How did you train for that?
Speaker: 1
05:02
I even had a, a computer program which I developed just for myself actually, where I would have all these different inputs. So, audio, touch, tactile, had like a thing around here, and and even then visual on the computer. And I would be ai these inputs, like, and trying to break my record and the faster I would go, the faster the program would go. Mhmm.
Speaker: 1
05:21
So I was trying to develop these kind of things that to train my bryden to move faster and react quicker.
Speaker: 0
05:27
So action time is the key skill set of a ai.
Speaker: 1
05:30
It’s one of the ones.
Speaker: 0
05:31
What do you also being courageous and, like, something with your amygdala where, like, you don’t have fear?
Speaker: 1
05:37
There’s that. Certainly. Yeah. Is it fun? Ai would say that I am actually someone who’s quite fearful. And but when you’re in it, you kind of also get used to things. Yeah? And you start to feel quite safe in the car nowadays, because I’m not a crazy adrenaline junkie ai most other drivers actually out there.
Speaker: 1
05:54
Ai, someone
Speaker: 4
05:55
Are they they’re you find that they are adrenaline junkies.
Speaker: 1
05:57
Yeah. Like someone like Verstappen is fearless, ai, completely. Or even Hamilton, you ai, they’re proper ai nutcases. So
Speaker: 4
06:06
The paths are a little different for everyone.
Speaker: 1
06:08
Yeah. There’s different Sai there’s a recklessness to
Speaker: 0
06:09
the personality type. There is
Speaker: 1
06:09
a Then, of course, there’s hand eye coordination.
Speaker: 0
06:11
Ai
Speaker: 1
06:12
Then, of course, there’s hand eye coordination. So to your point, Jamat, for young kids, probably there’s a high chance that you put a tennis racket in their hand. They’ll also be pretty good very very quickly.
Speaker: 0
06:22
Right.
Speaker: 1
06:22
And it’s a similar set of skills.
Speaker: 4
06:25
Can we shift and talk a little bit about the business of Formula One? I mean, we were talking backstage before the show a little bit, and you shared some of the anecdotes about some of the valuations and what’s happened over the last decade, decade and a half. Maybe you can, you know, just kinda paint a picture for us on how this has evolved as kind of a business and where things sit today, where they’re where they’re headed, and what’s driven that.
Speaker: 1
06:46
Yeah. So, I’m a venture capitalist myself, and that’s why I’m very interested in the business side of, of sport. And f one has gone through such a incredible inflection, and there’s a couple of factors that have come into play. They brought in budget caps for the teams. So the teams were spending just on Chast on their car development, like, north of 200,000,000 a year.
Speaker: 1
07:08
And now it’s like limited to a hundred and 30,000,000 a year just for the chassis itself not excluding engine ai and top personnel.
Speaker: 0
07:16
Hundred and $30,000,000 Just for that on how many cars
Speaker: 4
07:19
is that ai for a
Speaker: 1
07:20
Well, there’s 10 teams.
Speaker: 3
07:21
Yeah. Nobody’s
Speaker: 0
07:23
The 130,000,000.
Speaker: 1
07:24
2 race cars per year. Per year. But that’s just the chassis. You don’t have the engine which is another 70,000,000. You then have the top driver who takes 50,000,000 a year.
Speaker: 2
07:33
Or a hundred?
Speaker: 1
07:35
No. A hundred. No.
Speaker: 2
07:35
That was the first stop and rumor to go.
Speaker: 1
07:37
Yeah. Plus marketing plus plus you get to maybe $70.80. Yeah.
Speaker: 0
07:41
So fielding a team is how much?
Speaker: 1
07:44
Fielding a team is around, you get close to 300,000,000.
Speaker: 0
07:48
Wow.
Speaker: 4
07:48
Yeah. But you’re saying that the budget cap allowed everything to kind of
Speaker: 1
07:52
Yes. Because sai the budget cap brought in this cap for developing the chassis to a hundred and 30. Then suddenly Netflix also came in, and Netflix has just made the sport so much more popular. It’s unbelievable.
Speaker: 4
08:05
Sai that series really changed
Speaker: 2
08:07
the landscape.
Speaker: 1
08:07
Just in The US, you’ve gone from in the cup last couple of, like, six years, twenty million fans to, like, 50,000,000 fans. It’s more than doubled. Only in The US alone.
Speaker: 2
08:15
What do you think Netflix did right?
Speaker: 1
08:18
So Netflix, the owners of F one are Liberty, which is a US, ai? It’s a US based, company. And they did very well. They opened up social media. The new generation of drivers are really social media savvy and are are ai the fan base is 40% women in America. How many women here today are f one fans? Loads. There we go. Okay. Not too bad.
Speaker: 0
08:43
Are all the drivers as good looking as you or no?
Speaker: 1
08:46
No. I’m just I don’t want anyone to answer that kind of
Speaker: 2
08:49
Don’t be to yourself in Miami.
Speaker: 4
08:50
Sai the audio the audience blew up?
Speaker: 1
08:52
The audiences has blown up and you asked me what did
Speaker: 0
08:55
they get
Speaker: 3
08:55
ai? Yeah. What did they
Speaker: 0
08:56
get right? Yeah. What did they
Speaker: 1
08:56
get right? Sai what did they get right? The Netflix show for those of you who’ve seen it, it’s like a reality TV show. It’s not just a sports documentary ai, hey, this guy won here, but they go they managed to capture these personas behind the scenes, and you really get to see the human beings behind the speak.
Speaker: 1
09:13
And that’s very speak, and they ai to replicate it in other sports ai, I think, golf and tennis, and it didn’t work out as well. Because I think they got a little bit lucky also that here, quite a few characters allowed them and completely opened up and allowed Netflix to capture the real intense behind the scenes moment, and it’s just fascinating to follow.
Speaker: 1
09:33
Yeah. So that’s what works
Speaker: 0
09:34
so well. Before,
Speaker: 4
09:35
if you come in as an outsider, I had this experience, like, what team are you what you know, who you support? Like, I’m not really sure, but once you get to know the personalities, you have a vested interest, you have a history. There’s something can that you can contextualize.
Speaker: 1
09:48
Let me just end on the on the business part.
Speaker: 4
09:50
Yes.
Speaker: 1
09:51
So teams like, ten years ago, f one teams were, like, worth a hundred and $50,000,000. Yeah. And they would lose 50,000,000 a year. And now the top teams go for 5 to $6,000,000,000 10 years later. It’s like eye watering.
Speaker: 0
10:05
It’s incredible. Each other on the when you’re driving the race, you try to ai, yeah, bump into each other, you know.
Speaker: 1
10:11
A %. It’s part of the game. Meh. You you have to, unfortunately.
Speaker: 0
10:15
Explain because I’m a Neo fighter. I don’t understand it. And I I see, like, once in a ai, these NASCAR guys pull over. They get out. They throw their helmets at each other. You know, they get really upset. They seem like but they seem like hillbillies. You guys seem like a bunch of Europeans and, like, you guys seem like you’re fancy, like, a little more elegant. What what do you guys do?
Speaker: 0
10:34
Do you guys, like, spray with Clicquot on each other or something? Ai,
Speaker: 2
10:38
how do
Speaker: 3
10:38
you guys mess with each other? So
Speaker: 2
10:40
Nico wouldn’t watch
Speaker: 1
10:41
his TV. So the the word we had one guy push it was Verstappen pushed the other guy and he got like one week of community service. So Shoved on. That was a that was as far as it went.
Speaker: 0
10:50
That’s as far as the physique out. But when you’re in the car
Speaker: 1
10:52
Yeah. It’s fierce.
Speaker: 0
10:53
It’s fierce. So take us through. Like, what was the craziest you’ve ever been involved in altercation wise?
Speaker: 1
10:59
Well, my my rival was my teammate. My rival was Lewis Lewis Hamilton at the time. We’re both racing for Mercedes. Any Lewis Hamilton fans here today? A little bit. Okay. I’m here. Good.
Speaker: 2
11:12
Actually, Nico, can you talk about that? In that period, he’s so dominant, but the car is so dominant, and then you win. What is it like where your teammates with your biggest competitor? Like, what is that dynamic like? That psychological dynamic? It’s Are you friends? Are you guys friends?
Speaker: 2
11:29
Or
Speaker: 1
11:30
So with Lewis Hamilton, we were actually best friends when we were 14 years old. We grew up racing together in the same team, best friends. But when you get to f one, it’s just so intense and so much is at stake. And if it’s just the two of you racing for race So you hate him? Every single ai.
Speaker: 0
11:46
You can’t stand him. You hate him.
Speaker: 1
11:48
Yeah. It goes into hating. Yeah.
Speaker: 0
11:49
Yeah. Like real hate.
Speaker: 1
11:50
I can see the contempt. Ai mom.
Speaker: 2
11:52
Do you talk during the week or you don’t even really interact?
Speaker: 1
11:55
No. You don’t interact much. Sai unfortunately, it really becomes an end ai an enemy in a way, you know, and internally in your own team. Yeah. It’s a horrible dynamic.
Speaker: 3
12:05
Right.
Speaker: 1
12:05
Because also even your the rest of the team then need to start to be neutral. They can’t take any ai. So even when you win, it’s not like everybody’s, like, leaning in with you and
Speaker: 4
12:16
Mixed emotion.
Speaker: 1
12:17
It’s really a tough situation.
Speaker: 0
12:18
So it’s ai two people in the same project Yeah. Who can’t stand each other, Friedberg.
Speaker: 3
12:25
Yeah. They keep but you keep working together. Yeah. I’m not gonna say it.
Speaker: 2
12:29
How much of that Yeah. Meh your decision to retire literally days after you won the that was a little I think that caught some people off guard. Can you just tell us what
Speaker: 0
12:38
happened there?
Speaker: 1
12:38
I was in my prime and I won that championship which for me was my dream come true and it was extremely intense. Thank you. It was extremely Thanks, mom. I got one I got one clap. Thanks, mom. From my mom sitting in the audience.
Speaker: 0
12:51
She’s a very big fan.
Speaker: 3
12:52
I’m just kidding. Way to go, mom.
Speaker: 1
12:59
Yeah. It was extremely intense. And for me, it just felt like the right moment to I had a young daughter at home. She was one year old. Family, just felt like the right moment. I was in one piece to your meh. It being dangerous. And I just decided rationally, you know, I never wanted to exit on the way down. That’s something I definitely wanted to avoid.
Speaker: 1
13:17
I wanted to exit at the top and that was my moment and and I decided to pull the trigger.
Speaker: 2
13:21
Has there been a good ROI for the car companies that that have invested in f one in that all this money that they spend other than the ai, are they inventing things that we all use and see and interact with day to day in our own daily driving experience or not really?
Speaker: 1
13:39
So you probably will be driving an AMG at some point?
Speaker: 2
13:42
I had an AMG at one point.
Speaker: 1
13:44
There you go. And there is tech from the F1 team in there now. Okay. From the for the hybrid So
Speaker: 2
13:49
from Mercedes, yes.
Speaker: 1
13:51
There is a universal hybrid and Meh, every every car company will be benefiting but the return on investment is also in terms of marketing. Mercedes there’s a calculated return on investment which is 2,000,000,000 worth for their brand annually and they don’t actually invest money anymore because the team is profitable now Right.
Speaker: 1
14:10
And highly profitable. Like, these teams make 203 in profit every year.
Speaker: 4
14:14
So they now have $6,000,000,000 valuations. Is have we kind of peaked from your point of view? Is the market and the valuation curve still being climbed? There’s still
Speaker: 1
14:24
a lot of, there’s still a lot of upside at the moment because this growth has just happened in the last five years. Yeah. And there’s still I mean, even America, there’s still loads of growth potential, more races, there’s ai. The sport hasn’t really even tapped into that yet.
Speaker: 4
14:38
Do you think there’s something about sports that are kind of more tuned to the way our brains now operate in a social media world, like a fast paced world, like, you know, golf became Ai. I mean, Liv really kind of changed the the face of golf. There’s now caught baseball’s obviously dead.
Speaker: 4
14:56
I mean, MLB’s been on the decline for years in The United States. Not saying anything negative about baseball. I’m just saying that the viewership is going down.
Speaker: 0
15:03
No. No. No. No. You’re you’re there’s a lot
Speaker: 4
15:05
of games that you’re involved. Conversations about basketball at the NBA. Crazy
Speaker: 2
15:10
anecdote. Ai I was a co owner of the Warriors. I sold two years ago. A friend of ai, a friend of ours is in the market for a sports team, and he went to Europe to look at a bunch of soccer teams. And then we were all having dinner, and his bankers produced this study that showed exactly this problem, which is young people, their attention span is shrinking.
Speaker: 2
15:32
As it shrinks, there are certain sports they just cannot watch anymore. Cannot watch. And it’s totally correlated. The negative viewership in baseball, The increase in the use of clips. So people are willing to watch baseball clips. They will not watch a baseball game to save their life. People will watch basketball clips. They won’t watch basketball.
Speaker: 4
15:47
The NBA is moving to clips. Yeah.
Speaker: 2
15:49
And so it’s this weird construction, but in some ways, f one is very set up for this already naturally. Right? Do peep people don’t really watch the whole sport as much as they sana watch clips, I’m guessing.
Speaker: 3
16:02
It’s not that we want to do. I ai know. We didn’t
Speaker: 1
16:04
try to sai on our side.
Speaker: 0
16:05
How long is this race on-site? Ai long.
Speaker: 3
16:08
It’s never been hours,
Speaker: 4
16:09
and it’s not that long. I mean, that’s the thing
Speaker: 0
16:11
about it.
Speaker: 2
16:11
But you guys also have a lot of a lot of data telemetry. Like, you can feed that kind of anxious mind.
Speaker: 4
16:16
And there’s no breaks. It just goes.
Speaker: 1
16:19
I’m not I’m not sure if you have a point there, unfortunately. But, but
Speaker: 4
16:25
Pretty diplomatic.
Speaker: 3
16:25
I was just trying to make
Speaker: 2
16:26
a conversation.
Speaker: 1
16:27
No. What I can say is that our sport has, like, the highest engagement rates across all sports. Even comparing to NBA and everything. But why is that? I think there’s just a huge hype at the moment and maybe meh, maybe, okay, maybe a little bit. It is fast pacing. There’s there’s incredible action scenes. Yeah.
Speaker: 1
16:44
Like, thrilling action. There’s there’s huge crashes.
Speaker: 4
16:47
Did you not wanna get in the business? Point. Given your knowledge and your experience, you don’t wanna be in the because you you now have transitioned into venture capital. How did you make that decision versus working in the business of Formula One?
Speaker: 2
16:59
Oh, great question.
Speaker: 1
17:00
Because, yeah, that’s a good so in formula one, what jobs would have been left for me now after driving Yeah. Would be, for example, running a team. But running a team is twenty four seven. Like you need full commitment. You need to move to The UK. All the teams in The UK, it’s a full life dedication. And I’ve been I’ve done that. Been there, done that.
Speaker: 1
17:21
Now I want more freedom in my life to define my my calendar and everything and be at home more. And so that job, for example, would not be a possibility and not something I want to do. And then beyond that, yeah, you can be a driver manager, but even there, you need full commitment.
Speaker: 2
17:36
So tell tell us about this transition then to tech and investing and venture. And what was that journey and what attracted you to that?
Speaker: 1
17:45
I was always inspired by people like Elon Musk, who obviously you’re talking about, before. And those achievements that you have this idea and then you achieve something which has impacts ai millions of lives. I just found that fascinating. So I I always just wanted to pursue that path. So I started investing as an angel investor.
Speaker: 2
18:02
Oh. And now Wait a second. Oh.
Speaker: 0
18:03
Take it easy. The angel investing. What are you doing after the show?
Speaker: 2
18:06
Did you have
Speaker: 0
18:07
Did you
Speaker: 3
18:07
ever read the book Angel? Phenomenal. It’s in 12 pages. Yeah.
Speaker: 0
18:11
I’ll sign a
Speaker: 4
18:12
copy for it. It’s 84 pages long. What were
Speaker: 2
18:14
your first few deals?
Speaker: 1
18:16
Eleven Labs for example. Good for you. Yeah. That’s sai that’s gone really well.
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18:24
How did you find that? Yeah. How did that come about?
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18:26
I mean, I’m really putting an effort into this community as well. I’m spending a lot of time in in Silicon Valley meeting everybody and and also connecting to the European corporate landscape. So I’m bringing customers, revenues, connecting, building bridges because there’s a unique angle that I can bring, you know, thanks to my sports past.
Speaker: 1
18:44
So I’ve just built my way into it and built a reputation. And then and then you start getting the opportunities.
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18:49
What themes, Nico, have you invested in that today you would not invest knowing what you know today? Not the
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18:55
ones that are born. Yeah. That’s, the the the flying taxis, the vatsal, for example. Germany was leading the way on those. You have, Joby, for example, Joby Aviation, which is probably currently best positioned in The US. But Germany was leading the way with two two horses in the race, and and both of them have run into trouble. One is bankrupt.
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19:17
One was both bankrupt, I think. So that’s something that then in hindsight, you, of course
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19:22
If you had, read
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19:23
the book,
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19:23
you would have known hardware is hard.
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19:26
Right. I would have avoided that. Yeah.
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19:27
You should
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19:27
have listened to Sai should have
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19:28
listened to gotten that chapter.
Speaker: 1
19:29
Ai should have listened to
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19:30
ai out. Hardware is hard. It can work.
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19:32
Is even harder now with the tariffs. I’m hearing now, ai, I have a, I invested also in a cyber e scooter here in New York called infinite Machine. And now with the tariffs because the supply chain is so
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19:44
So brittle.
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19:45
Concentrated on in in Ai. It’s it’s just it’s a complete mess.
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19:50
Yeah. Niko, what about the political landscape in Europe? There was a pretty important election in Germany. It seemed to kind of go down the middle. What goes of Europe? What’s happening in Europe? The investability of Europe, the ability to do business in Europe. What do European industrial businesses do? There’s a ton of skill.
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20:06
There’s a ton of cash. When you talk to those folks, what do you tell them?
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20:09
I know you are very, very bearish on Europe. You wouldn’t put a dollar there but, is that correct?
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20:16
Well, no. For sweaters and wine, he puts much more than a dollar. That’s true.
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20:21
It’s pretty prolific. It’s a really good question. I actually think industrials Ai
Speaker: 1
20:24
got chargers. Right?
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20:25
Yes. Industrials, I would. Industrials, I think there’s tremendous skill. Yeah. Outside of industrials, I think it’s hard.
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20:33
Yeah. So we have the we have the problems with regulatory frameworks being way too cumbersome. We have the geographic fragmentation in Europe, which is very different to The US. Politically, it’s it’s really, I mean, quite in a bad place at the moment. And so, yeah, I understand.
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20:52
But at the same time, as you said, talent density is insane. The universities are some of the best in the world. So that’s where our hope is in the next generation that’s coming now.
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21:03
Stick to the Nordics.
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21:04
And the Nordics are very powerful. Yes.
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21:06
But also, Germany. But also Germany. Yeah.
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21:09
A little bit Germany.
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21:10
There’s there’s a lot of hope still.
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21:11
Yeah. Yeah. Hey. What’s your daily driver?
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21:14
Daily driver is a Porsche.
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21:16
A Porsche. Yeah. And then when you’re with your with your with your daughter, I don’t know how old she is, but you ever like pull some tricks and ai, is she like, hey dad.
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21:23
No. She shouts drive slowly daddy. Really? I’m not allowed to drive fast with her. No. Terrified.
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21:28
She’s Which is fine. Which is fine.
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21:30
You you don’t want her to get into the family meh?
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21:32
No. No. No.
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21:33
What do
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21:34
okay. What are some investments that you’re really excited by?
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21:37
Beyond, Eleven Labs, there would be ai intuition. Another one.
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21:41
Oh, great business.
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21:42
Where I’m where I’m in.
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21:43
That’s a really, really interesting company.
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21:44
It’s a company that supplies software primarily to all the legacy car manufacturers that have not managed this transition to being software first. Ai, Tesla has shown the way. And this
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21:57
It’s ai scale AI for automotive in some ways. Right?
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22:01
For part
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22:01
of the business. Yeah.
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22:02
Nico, you’re gonna fit right in. Have you learned to play poker yet?
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22:05
I’m a good poker player.
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22:06
You’re a good
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22:06
poker player?
Speaker: 0
22:06
We’ll see you on Thursday.
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22:07
Get it.
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22:08
Excuse me. Hold on, Nico.
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22:09
I Now you deep. Ai it
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22:12
up for Nico.
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22:13
You got
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22:13
it. Great team. Thanks for coming out. Thanks to our new bestie, Nico Rosberg, for joining us in Miami for f one, and thanks to you, the audience, for tuning in. If you wanna come to our next event, it’s the All In Summit in Los Angeles, Fourth year for All In Summit. Go to allin.com/events to apply.
Speaker: 0
22:33
A very special thanks to our new partner, OKX, the New Money app. OKX was the sponsor of the McLaren f one team, which won the race in Miami. Thanks to Ai and his team, an amazing partner and an amazing team. We really enjoyed spending time with you. And OKX launched their new crypto exchange here in The US. If you love all in, go check them out. And a special thanks to our friends at Circle.
Speaker: 0
22:57
They’re the team behind USDC. Meh, your favorite stablecoin in the world. USDC is a fully backed digital dollar, redeemable one for one for USD. It’s built for speed, safety, and to scale. They just announced the Circle Payments Network.
Speaker: 0
23:13
This is enterprise grade infrastructure that bridges the gap between the digital economy and outdated financial reality. Go check out USDC for all your stablecoin needs. And special thanks to my friends, including Shane over at Polymarket, Google Cloud, Solana, and BVNK. We couldn’t have done it without y’all.
Speaker: 0
23:32
Thank you so
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23:33
much. We’ll let your winners ride.
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23:38
Rain meh David.
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23:42
And it said We open sourced it to the fans, and they’ve just gone crazy with it.
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23:46
Love you, West. Queen of quinoa. Besties are gone. No. 13.
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23:58
That is my only dog thing.
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24:05
We should all just get a room and just have one big huge orgy because they’re all just useless. It’s like this, like, sexual tension that we just need to release somehow.
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24:13
Wet your feet.
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24:17
Feet? Where did you get mercy’s arm back ai?
