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How I Invest with David Weisburd
E113: Christopher Zook: Playing to Win - Lessons Learned from Scaling CAZ Investments to $8B and Building a Winning Culture
Nov 19, 2024
Christopher Zook, Founder and CIO of CAZ Investments, shares insights on scaling his firm to over $8B in assets. He discusses the hidden costs of keeping the wrong team members and common cultural pitfalls CEOs face. Zook emphasizes the importance of fostering a high-performance culture through structured onboarding and continuous learning. He also examines the evolving dynamics of sports investments, highlighting the shifts towards private equity, and the growing accessibility of investment opportunities for everyone.
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Quick takeaways
- The shift from traditional cable to streaming has significantly increased the value of sports franchises, enhancing their revenue potential.
- Building a strong organizational culture centered on accountability and continuous improvement is essential for long-term success in investment firms.
Deep dives
Investing in Sports Franchises
Investing in sports franchises has become increasingly appealing due to a significant shift in consumer behavior, particularly the transition from traditional cable to streaming services. This change has created an unprecedented demand for live events, with sports dominating the list of most-watched events; in contrast to just 13 sports events in the top 100 live events in 2005, there were 97 by last year. This shift allows franchise owners to set profitable advertising rates as they control the primary content that captures audience attention, leading to substantial advertising revenue opportunities. Owning a stake in leagues like the NFL ensures a steady financial influx, as revenue distribution remains robust even if the teams underperform on the field.
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