Thomas Tull: From Batman Dark Knight Trilogy to AI and The Rolling Stones | Lex Fridman Podcast #259
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Thomas Tull, founder of Legendary Entertainment and a key figure in Hollywood's blockbuster era, founded his production company in 2004 with a unique vision to bring institutional capital—such as funds from Fidelity or university endowments—to the film industry. At that time, the movie business operated largely like a cottage industry without long-term investors willing to take patient risks on franchises and tentpole films. Tull successfully raised this type of capital by partnering with Warner Bros., which was then led by Alan Horn, an MBA who understood both creative storytelling and financial discipline. This approach allowed Legendary to focus on global franchise building while maintaining control over their projects through disciplined management rather than relying solely on traditional studio financing models that often demanded quick returns or compromised artistic vision. Tull emphasizes the importance of constraints in fostering creativity, arguing that unlimited resources can lead to complacency whereas challenges and deadlines act as catalysts for innovation. He cites examples like James Cameron's work on *Avatar* and *Titanic*, where engineers had to invent new technologies because existing tools were insufficient, illustrating how necessity drives technological advancement. Similarly, he discusses his investment in Colossal Biosciences, a company led by George Church focused on de-extinction projects using gene editing to restore species like the woolly mammoth. Tull highlights that investing in such ambitious ventures requires not just financial backing but also ethical responsibility and deep understanding of human nature alongside technical expertise. Beyond filmmaking, Tull is part owner of the Pittsburgh Steelers and plays guitar with Ghost Hounds, a band touring with The Rolling Stones. His diverse interests reflect his belief in pursuing passions across different fields while maintaining intellectual honesty about one's strengths and limitations. He draws inspiration from Warren Buffett’s investment philosophy of avoiding "dumb things" rather than trying to be clever, applying this principle both as an investor and entrepreneur. Tull also reflects on the role of sports teams like the Steelers not just as businesses but as community institutions that provide meaning and unity for fans, echoing values instilled by his mother who worked multiple jobs to support their family in upstate New York. Tull advises young people to cultivate intellectual honesty, resilience, and strong relationships while avoiding victim mindsets when facing life's inevitable challenges. He encourages individuals to define personal principles early on so they can navigate complex decisions without compromising integrity, noting that small ethical compromises often lead down a slippery slope toward larger failures. Drawing from Stoic philosophy, he suggests meditating on mortality (*memento mori*) as a way to appreciate daily experiences and prioritize what truly matters rather than obsessing over fame or wealth. Ultimately, Tull sees life's hardships—including financial struggles during his childhood—as formative forces that build character and prepare individuals for extraordinary achievements in any field they choose to pursue.
Read the full video transcript
the following is a conversation with
thomas tull founder of legendary
entertainment known for producing
blockbusters like batman's dark knight
trilogy the hangover franchise godzilla
inception jurassic world 300 and many
more he runs telco which is an
investment company that focuses
on how artificial intelligence can
revolutionize large industries he is
part owner of the pittsburgh steelers
he's the guitarist for the band ghost
hounds that tours with the rolling
stones
but most importantly he's humble down to
earth and someone who has quickly become
a mentor and friend
this is the lex friedman podcast to
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in the description and now here's my
conversation with thomas tall
in 2004 you founded legendary
entertainment known for producing
blockbusters like
batman's dark knight trilogy that
includes batman begins dark night and
dark night rises
the hangover franchise godzilla
inception jurassic world 300 and the
list goes on it's just some of the
biggest movies in history
what does it take to make an epic movie
like that or what does it take to make
it happen from start to finish
well
look i i've been enamored with movies
since i was a kid as a fan and i think
what you need
is to is to be able to tell a great
story
and if you're going to tell a great
story
you need a great director
you got to start with a fantastic script
um that
you know is able to take some of these
iconic characters that we did
and put your own stamp on it while still
respecting uh the mythology
and uh i had zero experience in movies
and television before i started
legendary so it was it was a very
interesting trip
total luck uh that uh
we had the opportunity to make five
movies at the time with chris nolan who
turned out to be one of the greatest
filmmakers of all time
but it's uh each one is its own little
startup company uh and i don't think
there's any formula
to get there but i know that if you
don't have a great director and a great
script if you don't have that foundation
it's hard to pull off who's the ceo of
that little start-up company companies
the the director who would you say kind
of defines the success or the failure of
a movie well
when you build a big movie like that
it's an enormous effort
360 degrees i mean from digital
effects
certainly the actors i mean if you have
an amazing script an amazing director
but you don't believe anybody playing
the parts that's a problem so the reason
i think it was
so difficult to pull off is always used
to say you start with a stack
of papers with words on it called a
script
bring that to life
and you're asking an audience to believe
in everything that you're trying to
put out there and you've got a cast
that even if they're immensely talented
individually they have to mesh together
they have to have chemistry together
um
and you know the director is kind of the
general on the the battlefield but
if you have a strong producer who's very
hands-on but it truly to me is each one
had its own
story in its own sort of
how it came to be and why it why it
worked or didn't work
so you said you were new to the industry
but you did a lot of revolutionary
things with legendary
so at that time and now what is the uh
the good the bad and ugly of the
business of filmmaking
what what are some interesting holes
that you were able to or like problems
that you were able to fix
what problems still exist that can still
be solved
well
look the the business has changed so
radically since 2004.
when i started legendary dvds were still
a cash cow
so you know
that's how how far things have come
but i i would say a couple of things the
reason that i started it from a business
perspective
was at the time it was a 30 billion
dollar industry and there was no
institutional capital around
the movie business and i was fascinated
by that because almost every other
category that you look at of that size
has institutional capital private equity
etc is kind of a cottage industry set up
around it
and i was
perplexed and fascinated that that
didn't occur and the way the movie
business worked was unlike any business
i'd ever
looked at before so
after kind of convincing myself
that you could actually make money if
you were disciplined and had the right
approach
uh you know went out raised the money
from the capital markets markets which
was uh herculean still maybe the hardest
thing i've ever
done in my career
to walk around and say look i have no
experience
i've never done this before but you know
and the second thing being very
fortunate at the time
was able to partner up with warner
brothers
warner's at the time was run by a man
named alan horn
who besides being creative is also a
harvard mba so really understood what i
wanted to do
um and alan you know was just an
absolute gentleman someone that i still
look up to to these to this day
after warner brothers he went and ran
disney
with their run
you know between marvel and star wars
and everything and
so between
uh alan being responsible for harry
potter the dark knight stuff and then on
to all the disney stuff he probably had
as great a career as anyone i've ever
heard of
in the movie business
so
my first focus was around sort of two
concepts global worldwide large
tentpole films and franchises
and then the business aspect of being
bringing long-term
institutional capital to bear i'm going
to ask you dumb questions which is uh
part of the style i guess
but just for people who don't know uh
including me
what is institutional what is capital
what is institutional capital what is
equity what is private equity got it
okay well so
if um if you're starting a company
and
you go around to a bunch of your
successful friends and say hey you
should invest in my company well that
that's sort of uh that's great and it's
capital but it's not
getting money from fidelity or tea row
or
you know a sovereign wealth fund or an
endowment fund from a university that
has large pools of organized capital
that has a long
term point of view on your business
so if you get money from
your neighbor who's a successful dentist
next year
the dentist may say hey
times are hard i need my money back
if you're partners with you know
fidelity or morgan stanley or any of
these institutions
they have the capital and the
wherewithal
uh to to say okay i'm looking at this
over the next five to ten years
and i thought there was an opportunity
to bring that type of capital
to the to the movie business
uh to to be patient and the benefit of
that patient so it's long term
you have to deal with fewer parties and
they would do much larger investments
so what what are the benefits what are
the sort of the challenges of that kind
of investment well i think the benefits
in some ways are there professionals who
are largely dispassionate right it's
like look if you're hitting the numbers
you told me and you're hitting your plan
great
um and the other the other thing that
always
was interesting to me about the movie
business
is if i'm investing in an artificial
intelligence company or a chipset
company or something like that
a lot of the institutions don't have the
technical expertise to really truly
grasp
what's being done so they don't you know
other than good business practices
they're not offering every little
opinion the movies and television are
completely approachable
meaning everybody has an opinion
so
you know whether it's i think you guys
chose the wrong actor for that or why
did you do that move it's it's
so it invites a lot more
sort of second guessing and things like
that so that was always uh
one of the idiosyncrasies of the
business that i thought was uh
you know was interesting
um and and then
when you talk about private equity
versus public equity if you're a public
company where the companies can
are traded you want to buy microsoft
shares you just go to your broker
go on td ameritrade and buy them if on
the other hand uh you're talking about
private equity that's
uh institutions or individuals investing
in private companies um so thus the if
you have pools of capital that mostly
invest in private equity deals that
that's how you how you'd think about it
it's difficult to make those happen
because it's individuals you have to
sort of
what have dinners and
agree so it's much less
it's a much more human much less
mechanical i would say
yeah now and again massive difference
between large private equity
shops who are professionalized and in
the same category that i mentioned
earlier
uh versus private individuals
who are wealthy or whatever but again
it's it's much more individualized when
you're going
uh to people who like your idea and just
say i'd like to invest in this is there
is that
from all the kinds of investments you've
seen
what do you think is the most conducive
to creating
works of genius
whether that's in technology ai space or
whether that's in movies sure so
creating something special in this world
i would say a couple of things
enough money
that whatever endeavor
you you're you're going into
that you're not
so nervous about the edges right if my
if i have a hundred dollars to spend and
i'm i think i can create a perpetual
motion machine or something for 104
i can't do it because they're all over
me about the budget so i would say
making sure that you have enough capital
making sure that that capital is patient
enough
so that it's you know if you're going to
do things that are extraordinary
it takes some time
and you're going to break stuff
right you're going to make mistakes
you're going to have a whole bunch of
film on the cutting room floor so to
speak or if you're in the lab you're
going to have a whole bunch of broken
stuff
and i also think it's very important at
the beginning
and i always try to do this with
companies i invest in or buy
is make sure that you have a
philosophical
and somewhat mechanical alignment with
the management team
so that
going in
you both understand hey this is how we
think about this problem or this company
this is what we feel like our culture is
this is what our goal is and these are
the metrics by which we'll agree to
measure them by
because
if you don't have that shared
you know hey we're going to take this
journey
then i think that's where people get
upset disappointed etc
what about
this is a weird question but constraints
so this is both for filmmaking and
investment
do you think more money is always better
no
so i
i like constraints a lot
it's like constraints
and almost like a desperation and
deadlines are uh
catalysts for creativity for uh for
productivity for sort of uh innovation
so can you can you kind of speak to that
sure as an investor as a creator like
what's uh what's the right balance here
well i i think if you're focused on a
particular problem or a company or a
thesis is if you have that focus
and you feel like i have unlimited
resources
or renewable resources so there's really
there's no
leverage in the situation
right there's no
if i fail at this i'll just go get more
money
right i'll just go
i i think that's a hard way to be
resilient
uh and and to think of new ways to solve
problems
um
so i think
capitalizing things just
you know to the nth degree
does create some problems so i think
there's that perfect blend of
don't starve the oxygen to the point
where you make short-term decisions or
non-strategic or thoughtful decisions
because you got to pay the rent and on
the other hand
you you can't have it be like this
you know everlasting gobstopper of
whatever you want will just keep flowing
the cash because that doesn't create any
friction points
that i think um do
result in in works of genius in in
things that uh
you know
that that are transformative and
one of the things that is interesting to
me
about society sort of
writ large is
i think that when you go through hard
times
and you have to do things that are
uncomfortable and you don't want to do
them
because you're tired because you're
that in some ways builds up that you're
comfortable being uncomfortable
muscle
and i i sometimes think we're losing
that a little bit and you you can't sort
of paint with a wide brush but
um
you know i i that's that's one of the
things that i kind of
observe and and hope that we don't
go that way i i do think challenge and
discomfort are a kind of gift
because uh like overcoming that it's
like uh from from every perspective from
a human perspective it's a source of
happiness and fulfillment overcoming
challenge but from a business
perspective
i see like if something is really
difficult
to me it's also a sign that most others
would or many others would fail at this
point
so like it's a feature it's nice that
something is difficult when
when people tell you that something is
impossible i love that because it's like
all right well then that's what a lot of
people would believe
and that gives you an opportunity to be
the person who shows it's not impossible
and you of course you might be wrong but
if you're not wrong you have the
opportunity to stand out so going
through that hardship taking those big
risks is going to really pay off so like
discomfort
is a
it's a feature not a bug
of both personal life it's just good for
life
but uh for business it seems like just
just good business sense
if something is hard it's probably a
good idea to do that
yeah because most others will fail
fun question i don't know if you can
answer this but uh what's the most
expensive movie you were involved with
to make and why was it
you don't have to say numbers but like
do is something stand out as being
exceptionally expensive and why this is
expensive um
i think jurassic world was pretty
expensive
work i mean worked out great
um
and uh that's like that's an epic film
by the way it it
look it's uh
it's it's one of my favorites they just
did an amazing job and frankly
the crazy thing about my life
is all the stuff that i loved as a kid
somehow came full circle back into my
adult life
and having the opportunity
while i was out there to
to develop a friendship with steven
spielberg
and then have have my name on the same
film as steven spielberg i mean that
that was
pretty surreal
um
so that was an expensive film um you
know dark knight rises was it was an
expensive film but again to me there's a
difference between expensive and
irresponsible
and expensive because the vision
warranted
and it turned out financially it
certainly did yeah with jurassic world
it's
i mean i can't imagine having those
meetings because like you have to create
so much and so much of it is obviously
not real you can't
bring dinosaurs in a
yeah
uh is that where a lot of the cost is is
in the
uh
you know the computer side of things
yeah those are generally pretty
massive components of uh of the budget
and especially if you're
doing it and inventing things yeah as
you go i mean jim cameron is one of
those
filmmakers who
you know is is designing the plane
as it's flying in such a brilliant way
and uh i you know i've got to know him
over the years and just in awe
of the way his brain works and uh so
yeah it's it's a big component
can you speak a little bit more to him
in terms of uh because you're such a
fascinating person
because you care a lot about technology
you care a lot about the cutting edge of
technology
so how does he a creator
a director
build the plane while it's flying like
what's the role of innovation in this
whole process
well um
so i never made a film with jim i'm just
a huge fan and got to know him
um and john landau his producing partner
and one of the things that just
fascinates me about jim is so he makes
titanic and there's a bunch of
underwater cameras and things that they
need that don't exist
so he goes and invents them
and
you know has a good grasp of engineering
and has not only the imagination but the
ability to lead a team to build them
i got to go down early when they were
shooting avatar
at a warehouse i think it was where they
were shooting and as they were
explaining to me
how they were capturing it and that they
could go back later because they created
the environment
it blew my mind and i said okay this is
truly
people talk about a a big leap this
certainly is one so
he has continued
to push the envelope
in terms of the art of the possible and
i i just think he's an incredible genius
in that way
again another hard question so you uh in
the realm of music care about story
storytelling
is there some aspect in which money
and beautiful graphics get in the way of
story
in filmmaking so if you think
um if you think about jurassic world
obviously that's an experience like any
other
like what do we what do you think about
the tension between
story experience and like visual
effects
well look
if you're using
big effect shots
and all kinds of tricks to cover over
the fact that you don't have a very
interesting story to tell
that's where i think it gets in the way
um
where i think you have these incredible
filmmakers we mentioned chris nolan and
jim cameron guillermo del toro
um
you know you could go on and on
of folks that
just see the world differently and use
technology
to enhance the storytelling right to
make you believe
uh differently
uh rather to to make you
not just suspend your disbelief but to
feel like you're immersed in it
um so i've certainly seen it done
expertly and i've seen it done poorly
uh you've talked about this a little bit
in the past
you kind of uh left
the the movie-making business at an
interesting time perhaps you saw the
changes
there's been a lot of excitement with
netflix with tv so the the role of film
in society has changed so
what do you think is the future of
movies versus tv like if you are as a
business person as a creator as a
consumer
as a technologist
or thinking about the next 10 20 years
what do you think is going to be the
the godfather the great
pieces that move us as a society in the
next 10 20 years this is going to be tv
is it going to be movie is it going to
be uh tick tock
uh clips
what is it
well
so i i and i think the other category
that i would add to that that will be
the next great medium is truly immersive
virtual reality
uh in which
new storytellers will emerge
especially when you can go into vr
and there's enough computing power
to sustain it
and to allow it to be social
and you know for you to have different
paths to go down
that'll be i think the next realm of
what storytelling and experience will
will look like so do you think a video
game kind of world or is it more movies
or is it more
social network or is it all the kind of
blending reality and gaming and movies
yeah i thought uh if you saw ready
player one which i loved the book and
and the movie was cool too
but you know that that's one version of
it right where you go in
now everybody's talking about the
metaverse and all that but you go into a
world that's fully rendered
as yourself and you interact with that
world the other side of it is to go in
somewhere between being a passive
observer but being able to move around
your point of view and experiences
which i think is interesting
and then i think another another
adventure so to speak i could think of
is
a blend of video games so there's a
mission right there's a there's
obstacles there's everything and you
move through it
but it's immersive and it tells a story
at the same time and that's why i think
you're going to see
new amazing storytellers
that we don't know yet
that understand how to innovate and how
to make you feel something in in that
environment
and to your earlier point you know i
saw probably around 2015
when netflix decided to
be bold put out house of cards
put out all the episodes
leave you in charge of the pace at which
you would view them
uh which i thought was was great
that was a gutsy move yes it was and i
can't tell you around hollywood anybody
that says that everybody thought it was
a great idea is not being truthful
because
everybody i talked to said this is
they're idiots right they're what do
they know about movie making and tv
and
what i saw happening
was if you look at what netflix pulled
off and they realized that there isn't
really a moat around the studios
you really could make stuff
um
and really good stuff and so they
started to create their own content
that pulled in
amazon which pulled in google through
youtube and and then you had hulu then
you had
disney deciding that they're gonna have
disney plus and the next thing you know
you have some of the the biggest
companies with the largest balance
sheets on the planet
uh being in the creative business
that's you know if you're an independent
that's that's bringing a knife to a gun
fight to be sure
and so
you know i thought that was interesting
the other thing that it used to be that
movies were where the big things
happened and television was sort of
it was small screen different experience
and you had something like game of
thrones come out
which was not only on the same
epic level visually and storytelling
wise but had the budget to be able to do
it
and now
i think you're you're seeing um
you're seeing uh
all kinds of
different storytelling
taking place
and i also like that it's you're not
pigeonholed into
a time like you got two hours to tell
the story
you can do a three-part mini series a
five-part mini-series you can do
television that's
you know all kinds of different format
and that i think is uh
it
allows creators to do a lot more
interesting things
it is also interesting to consider the
role of companies that enable that like
the capital that enables that you know
without netflix you wouldn't an hbo you
wouldn't have
um some of these epic shows and so for
if we're thinking about the virtual
reality world that you're talking about
it's interesting to consider who will
enable that you know now like you said
facebook is talking about meta and
metaverse
but it's unclear that just having money
is enough
netflix did a lot of really
revolutionary stuff there's a
you know amazon has money there's a lot
of companies have money that don't quite
do as good of a job yet
at enabling creators of
um
creating revolutionary new content that
changes the the whole industry and
that's probably going to be the case
with virtual reality there there is a
lot of money needed to enable
experiences like in terms of compute
infrastructure
there needs to be a huge amount of money
there but you also need to somehow give
freedom to creators to have fun
to do their best work and at the same
time
like
provide the
the perfect amount of constraints all of
that together like however netflix makes
it happen they do a pretty good job
because it's a very constrained platform
but yet all the creators i've ever
talked to comedians and so on that work
with netflix are really happy because
they feel free
to create their work yeah and i think a
lot of times
you know companies are a letterhead but
it boils down to the people yeah and i
think um
i've known ted sarandos a long time who
who ran the studio at netflix and now
took over for reid
uh
running the company but ted
very smart talented guy and understood
early how to cultivate talent and
relationships with talent which is
important when you're dealing with
creative people
their motivations and their goals are
not always the same right they're not
always capitalistic
right and so in terms of being able to
communicate
with creative people uh that are not
always a to b to c
is is a talent and so i think they they
did a great job ted did a great job with
that early
um
you know but i i think that you're gonna
see
different formats i i i don't think
i mean going to a theater
to see a massive movie
on that screen in that format i is a
fundamentally different experience yeah
and i think you're gonna find movies uh
you know my old shop legendary just put
out dune which i thought was
phenomenal
um i uh you know we when we secured the
rights to dune years ago
it was
i was over the moon because it's i love
the book i i love the the entire world
um that uh that is dune
and that's a movie that i think you see
on the the big screen i think uh
when avatar 2 comes out i want to see
that
on a big screen but i think you're going
to see
a ton of content is obviously being
produced and it's not all going to go to
a theater going experience so you're
going to see
i think different versions of this over
the next five to 10 years
in case james cameron is listening to
this so he officially agreed to talk at
the time of on this podcast at the time
of avatar to release i'm just holding
you to that in this recorded
conversation
um also just super excited um both the
movie
and uh the director
there is something special about movies
you know they win oscars
they um
they're historic in nature there's
something about tv shows even when
they're epic like game of thrones
that they're forgotten much quicker
in history i don't know maybe that's
because we haven't had enough of them
but you know the de niro performances
and
you know the scorsese films all the
great films that kind of we think of uh
throughout the generations that define
generations are films
is that um is that just old school
thinking is that always going to be the
case i mean look to me
going in a darkened theater with a bunch
of strangers and the lights go down
and you go on this journey
there is something special and magical
about that
and i think
movies have been a part of our cultural
fabric
forever and for some reason hollywood
in america
was you know uniquely
positioned uh to do a great job with it
right and not that there aren't great
foreign movies but
far and away american movies you know
are dominate the not only the world
market but
you know and so whatever it is that we
do well or hollywood does well
um
you know there's there's something in
the water apparently but i i agree that
i love movies and i will you know for
the rest of my days
it's it's interesting how creators can
move back and forth now
as well that used to be a complete no-no
you're either a movie guy or you're a
person or a
you know or you're a tv director and
that's that but those lines have
completely uh blurred
and they're also blurring i mean they're
blurring all kinds of lines like they're
they're moving to tick tock and
instagram and like i know right now it
seems ridiculous
to consider that these like
one minute things
could be considered even in the same
realm creatively
as a film but maybe that changes over
time too maybe experiences can
completely become fluid in terms of
their
size as long as they have some
deep lasting impact on you as a human
being
as a consumer look
to me
the whole thing is about
either the moving image or even
sometimes a picture
will bring out an emotion a reaction
something so
you know short form is harder because
you have less time to set things up and
all that but i'm sure there will be
short videos and creators that come up
with things and if a moving image
can get a reaction out of you and make
you feel a certain way and stay with you
or inspire you
well that that to me is just the next
evolution of
whatever it's going to be between humans
and cameras etc
see i think that's why we've talked
offline about this that's why i love
robots as i think there's certain things
in the short form with robots that
immediately can bring out a feeling in
people
there's something about
our consideration of our own
intelligence of our own consciousness of
all
the fears and hopes and the beautiful
things about human nature the dark
things about human nature that somehow
especially lego robots bring out because
we have both a fear and excitement
towards that are these going to be our
overlords our gods
that overtake humanity are these going
to be
things
like horses or something like that
something that empower humanity like you
don't know what to make sense of it
that's why they're super exciting i
agree speaking of robots and film uh
you've gone into traditional industries
and disrupted them quite a few times
was there is there a system for deciding
which industry is right for disruption
when you
look at the world and see
what are the big problems
you would like to solve
uh do you have a system of how you see
which problems to solve how do you
look at the world
yeah well on the business side of that
um so i have a holding company called
tulco very imaginatively named
and part of that is literally every name
ever is now taken registered and all
that stuff
um so
we're a holding company what's a holding
company so instead of being a fund that
has money flowing in and out of it and
you know there's what's called a vintage
year i raise capital and i agree to
invest that capital for so long and then
i give it back to you which i sometimes
creates artificial time pressures and
things like that a holding company is
more
permanent capital
so the idea was behind telco
was to buy
almost always whole companies or
majority stakes with great management
teams
in spaces that did not traditionally
have a lot of innovation
and to have our labs group who were data
scientists ai practitioners
you know
engineers machine learning etc and to be
able to bring
that wherewithal to that company so to
provide them with the right capital
and to provide them with access to
technology that would be hard to
individually recruit
uh for that company so i would say
that
the thesis was to look for industries
that were large enough that hadn't
traditionally had access to that type of
technology or innovation and to try to
look for companies
that not only
uh looked that part but had management
teams
that embraced this and wanted to take
that kind of journey yeah there is quite
a few industries like that but that
finding
the industries
and uh the management pair because like
those industries often have a lot of old
school folks who don't
it takes quite a bit of work for them to
leap into technology i work quite a bit
with the autonomous vehicles
and just the automotive industry
depending on the company there's old
school folks it's like detroit thinking
versus like uh what do you call it i
don't know
california thinking
well
you have to i think you have to look at
the nexus of two things there one is
just
plain old human behavior if i am
uncomfortable
and i this isn't
a comfort zone for me and it's not
something i have as a field of expertise
i'm gonna shy away from that right
especially if i'm successful and i feel
good about myself and it's a big
successful company or person or whatever
it might be
and the second thing is
that especially if you're a public
company and you're being weighed and
measured every quarter
you are rewarding the managers of that
company
to hit metrics and to be reliable and to
say hey i'm counting quarter to quarter
that you're going to deliver what you
say
it's difficult to say you know what
everybody for the next two years i
wouldn't count on our financial
projections at all because we're going
to reinvent what we're doing
it's going to work in the work in the
long run and you're going to see that
this was a really smart investment five
to seven years from now
that's not the way capitalism is
currently wired generally right and a
lot of so again if you reward
managers with yearly bonuses and stock
options based and tied to
stock price and all these other things
you know and then ask them to go break
stuff
that that's that's hard i think so
you're saying
like uh so
the uh the taco approach this the
private investment
is the best way or perhaps the only way
to enable this kind of long-term
innovation investment taking big risks
and investing in innovation well look we
certainly
are not by any means the only one doing
it i'm just saying that when you when
you think about big companies the more
successful you know that are in old line
businesses
and i hear people
sort of talk about well why can't they
just pivot they recognize they need to
be in the technology business well
because it's hard it's hard to steer a
ship and turn it that big and especially
if it's not part of your dna at that
company
so
you know i i just think that
what we tried to do is to
enable
management teams
that know where they want to go
and to be patient with capital and also
again bring bring innovation
um
to bear that that they have access to uh
but there's plenty of capital structures
doing
interesting things that's one of the
things i love about our country
this country innovates and this country
invents things and i'm
constantly in awe
of of just the
you know the human ability
uh to to innovate and to iterate um you
know i i get to hang around some
universities
uh including your old shop mit and it's
like i'm still there yeah still still
there still teaching they're still
teaching but that place is like hogwarts
i mean it's it's just uh
it's inspiring yeah right and and
certainly the the energy in silicon
valley which now austin texas where
we're sitting yeah uh has its own
incredible
ecosystem uh so that's that's one of the
things i i love about america
is the ability
and that really is i think in the
american dna to create things and invent
things
um and i i just i think that's
invigorating and i think that's even
bigger than capitalism sort of the
machine of how capitalism works that's
just human nature capitalism is just one
of the ways to sort of uh
make that human nature shine i suppose
but it's it's like you mentioned mit
you know
there's a drive there to invent to
innovate
that's um that's so
human that that human spirit to sort of
build something new
it's like that hopeful optimistic spirit
especially in the engineering space like
if you pay attention to the internet
like twitter and all that kind of stuff
intellectuals and so on there's a
cynicism
to when we talk about stuff
but there's an optimism to when we do
stuff and the the doing part when you
actually build things especially like
you care a lot about manufacturing too
like you actually build physical
products
that um that's where we truly shine
yeah
no question about it and i and i
you know i'm passionate about our
country making stuff again right doing
our own manufacturing
uh and and making sure that we don't
lose the ability not just to create
things
um
intellectually and do the world's
greatest blueprints but actually make
things
here actual factories yeah that's
exactly right how how do we how do we do
that how do we bring more
manufacturing to the united states
well there there's a company that i have
a
big personal investment in called
rebuild
uh with uh
some folks that all went through the mit
school years ago
there's a good friend of mine named jeff
wilke who used to be at amazon
and we all felt the same way that
you know america needed to make sure
that it didn't lose its edge in that way
so
it's uh it's a company that invests in
american
high-tech manufacturing
and i think the way that we do that is
provide capital
provide training
to me this is also fertile ground for
good sustainable high-paying jobs um and
you know we have to we have to make it
economically feasible to do that again
here in this country
uh and not to say to companies that
again are being weighed and measured
quarter by quarter hey this is three
times as expensive to do it here but you
should do it here
we need to innovate and and we need to
create processes and and
companies and opportunity that balance
that equation
and i think as we saw during the
pandemic
you know i don't think in this day and
age you can be an isolationist that
that doesn't make any sense to me but
being self-reliant and self-determinate
and making sure
that you
are never in a position as a nation
that we can't do basic things because
we're relying on supply chain in other
countries and whether it's
you know uh we're not friends anymore or
a natural disaster or a virus or
something pops up
i think those are
costs of doing business that we have to
put into the calculus
of
uh
being able to make things here there's
an extremely high cost to making supply
chain resilient that we really have to
consider and it's so
if you really consider that cost it
makes a lot of sense to invest
especially long term in building up
manufacturing in a way where like you're
making most of the stuff in one place
sort of uh
bringing it all
not all but as much in as possible and
um building it almost like from scratch
here in the united states i mean what
i guess the
your thought is with innovation
uh it's possible to sort of
revolutionize the way we do
manufacturing so reduce the amount of
supply chain stuff and like build stuff
from scratch like do a high-tech
manufacturing
so like
optimize all aspects of the
manufacturing all that kind of stuff
yeah and i think where technology
is the most efficient
uh is is the human machine interface
right it's not let's automate everything
and have nobody work anywhere i i
for a long time that's neither feasible
nor desirable
but where we can enhance
jobs
and
make that interface immensely productive
with the right training and so forth i
think that's a worthwhile endeavor and
something that's going to be important
to our country
yeah i mean you're
you know who you're talking to i love
human robot interaction human machine
interaction human ai interaction so what
do you think is the role of robotics in
this high-tech manufacturing
sort of like industrial robots robotic
arms all that kind of stuff um or even
even more complicated kind of robots
what do you think is the role of
robotics what do you think is the role
of ai in this manufacturing future
you're thinking about well robotics to
me is an extremely exciting field i
don't have the same expertise that you
do i have an adjacency but not the depth
of knowledge
um
have never really delved deeply into it
or made investments in it but i think
what's exciting about it is everything
from
doing jobs that are very dangerous for
humans
um
enhancing the human experience
when you look at really repetitive labor
things that
you know
it might take away a job but is it a
good job for that that person is you
know spending 30 years doing something
highly repetitious is that
is that a good experience in life
so i think um and then when you think
about everything from military
applications
uh
you know rescue we're already seeing a
bunch of those things and then
just lastly when you talk about that
human interaction with robots when you
start to have
the combination so you have some level
of intelligence and interaction
i mean
that's why we always love the droids in
star wars right i mean it's uh
it it's it's exciting it captures the
imagination
um
and i i think look
many many hours and
have been spent on debating artificial
intelligence
and the the ramifications if things go
sideways and so forth
um and i think those are all
you know those are appropriate
conversations to be having
ai is happening uh i think it's actually
happening slower than most people
realize
um
because there are tasks that humans do
every minute of every day
standing up without losing your sense of
balance i mean these are really hard
things
but i think
there's enough
investment both in private industry as
well as nation states now on artificial
intelligence that it is coming
so both in the software space in the
digital space
and in the physical space so we talked
about manufacturing so industrial
robotics
is very true that even in the factory
even the tasks that you think are
pretty um
basic
you know the amount of small
intuitive decisions that humans make is
quite incredible so we have to be kind
of explicit about saying which tasks are
actually really hard and humans are just
really good at them
and uh so
on and on the flip side in the digital
space was the social networks of
recommender systems with all kinds of
like personal assistants in terms of
voice
voice based ai systems all of that
there's
opportunities there to find niches where
ai can really have
a transformative effects
i think one of the
places that really haven't
this is where like you're worried to say
stupid things but i believe this very
much
that um
when we have ai systems in the home
currently you have somebody like alexa
and google home and so on they're kind
of
very basic servants
they tell you about the weather they can
play some music they can turn the lights
on and off all the kind of like smart
home stuff
i think there's a lot of value in
systems that
form relationships with us in the way
that pets do dogs
and cats
i don't know
just for people who have cats cats don't
care about you they they really don't
they don't form any kind of relationship
i don't know why you have a relationship
with them it's one way anyway
sorry to throw some shade i'm just
kidding by the way that's a basic kind
of connection you have with another
living being
then there's also just friends you have
you have different levels of friends
acquaintances you have lifelong friends
all that that that friendship you have
i really believe that there is some
aspect of the human experience
that
is deeply enriched by interacting with
other beings
and for
systems computing systems artificial
intelligence systems in our
world to have the capability to engage
in some of that i think is not just an
opportunity to
to to uh help people grow become better
people but it's also just a good
business opportunity too and that hasn't
really been explored enough so that to
me is really
that's a whole exciting space that i
think
will enable better industrial
industrial robotics it will it it will
empower a better facebook
a better social network a competitor to
facebook that overthrows facebook so
it'll it'll create better technologies
that uh currently don't have that human
robot interaction touch so
i don't know that's super exciting to me
but that that has to deal with the mess
of
human nature
the the the reason that most robotics
people and ai people stay away from
humans
they stay away from the human robot
interaction problem it's because humans
are complicated they're messy they're
hard to control
they're hard to
predict stuff about they're hard to make
sense of or like test repeatedly because
one human can be drastically different
from another human and so for to deal
with that as the robotics problem is
super hard
and so one of the questions
is uh
which problems can you remove the human
from consideration when you're trying to
solve the problem so like elon musk is
an example of somebody who believes
autonomous driving we can remove the
human from consideration we can solve
autonomous driving as a robotics problem
it's staying lane
when there's a red light you stop at a
red light
you know if there is humans in the
picture like pedestrians
that's a ballistics problem
it's just treat them as a moving object
that has uh was with like 90 probability
keeps moving in the way they were in the
past few seconds with some smaller
probability that might stop or turn like
just do some basic models about them and
you'll be able to do just fine so i i
tend to believe that
even driving
has to consider the full messiness of
humans the dance the game theoretic
dance of chicken that we all do
when
we jaywalk we look at the car
is that car that car doesn't that driver
doesn't have the guts to murder me so
i'm going to walk in front of it and not
look at the car we do that kind of dance
and ai systems need to be able to play
the uh um
uh do that kind of dance
in telco
there's the the labs
so there's a data science component the
ai component so
how do they go into a company
and help revolutionize that industry
well there's different examples so
one of our companies figs makes
healthcare workwear
started by these two brilliant women
and you know
early days
helping to build the platform and
recruit and
make sure that the the everything that
we did at the company
uh embraced technology and at the same
time they were obsessive about their
customer which is
you know doctors nurses healthcare
workers who are putting it on the line
every day and obsessive about their
product and when you have those two
things come together
you know you you get the result that
that uh that we did at figgs
um
we have a company called akasher which
it's ai
lab and base is down here in austin
texas
it was uh an insurance one of the
largest insurance brokers in the world
and uh
you know we
did a deal with them and sold some of
our
our insurance holdings that was
completely ai driven
and in that case you basically put the
team inside the company right because
it's it's a massive
company with all and we've gone into all
kinds of things
um
so it just depends on the different uh
situations but the the biggest thing was
just to make sure whatever the company
needed
uh they had access to the talent
sometimes we'd build it sometimes we'd
help recruit for it you know how thing
in technology it's whatever works right
there's there's no
one way to do things um well echo sure
is really dif uh is really interesting
as an example so insurance is a
fascinating space it sounds like
very ripe still for disruption across
the board
so how do you it seems like a lot of the
disruption has to do with
like uh
almost the first dumb step of we've been
using mostly paper
like it's not digitized
you have to basically convert uh create
a uh infrastructure in a framework where
like everybody is using the same digital
system like databases and just organize
the data that it seems like that's a
huge leap that basically can
revolutionize major industries that
still hasn't been done insurance is
obviously the great example of that and
one of the things that struck me uh the
the founder ceo of actual is a guy named
greg williams they're out of grand
rapids michigan and as we were looking
at expanding our footprint and insurance
i met with a lot of
insurance executives and they would talk
about technology but greg
uh
truly understood the power of what would
happen across actuarial sciences
you know you know predictive analytics
and and using machine learning
to really run every aspect of your
business and then automating
a lot of the just the back office
tedious steps and as you said one of the
things that was great for us
they already had um
a data collection
system and department so that so it was
much easier to pivot
um and you know i'm very excited about
the future of that company it's uh
you know they're
doing some pretty innovative uh
groundbreaking things and
those are the things that i like doing
right is that um
yes i i want to make money just you know
that that's what that is but at the same
time
what did you do with your time on earth
right did you do anything to leave any
kind of mark that
you know you did anything
interesting i i can only speak for
myself there are many more ways
to measure one's life and i can only
speak about how i think about things
um you know i grew up poor in upstate
new york
with a single mom and watched her work a
couple jobs and
you know had to
from a young age
you know shovel snow and mow lawns and
do all kinds of things to help her
picture make sure the lights weren't
turned off uh in our little place and
so that's just something that i've
always been driven towards
and um
you know i just i have a really eclectic
tastes and interests
and um
you know it's just it's just been an
interesting journey so help be part of
and help enable
some
cool new creations across the board like
film
music
ai
manufacturing
just you know insurance all the specific
uh
industries that you disrupted yeah uh
small tangent
back to your childhood
with your mom
any uh memories kind of
stand out stick with you as um
as something that helped define who you
are as a man
yeah even though
you know uh the university and college
experience was not part of the the
family tree
um
and we had no connections i didn't
understand i didn't know what a trust
fund was or prep school i didn't know
what any of that was
um
but
my mom from a young age would always say
you know you're going to go to college
there's no
you know if you choose to and and i
think from a young age that was just an
expectation
um that that i had and that she
instilled and the work ethic i watched
her
and then my my grandmother was uh
was a janitor a cleaning lady in a
hospital for 50 years
and then
i i remember there were times of
you know i'm probably 10 years old it's
freezing cold out and if i don't go out
and shovel six driveways
we don't have enough money to pay the
bill so
i don't know i'm not a psychologist so i
don't know how that manifests itself
in my life today
but i think
the grit
to say i'm not in the mood to do this i
don't want to do this but that's the
work that needs to be done and
no excuses
not i'm a victim and i'm going to sit
around and talk about no it is what it
is and you have to get done what you
need to get done
and again i think it's uh
you can never fully put yourself in
someone else's shoes or experience so i
don't know what that is or feels like
but for me
though those were two i think formative
things
um that that were important in my
childhood so that that's pretty the
reality of life like that is pretty
humbling
you still
you've been so exceptionally successful
that it's easy to get
soft now
how do you get uh
humbled these days
by getting up
you know you know i i think um
for me personally
trying to push the envelope
and being weighed and measured right
that's why i always love sports too
there's a scoreboard
and you know i'm a huge believer in
opportunity
meritocracy
all those things that i i think are
ideals that we want to uh aspire to
and i think that um
there's a lot of things i'm involved
with right now that
i just want to see if i can do it i want
to see if
you know if
and and you know my own little mantra is
cause the outcome
right as much as you can
and at the same time have the humility
and not to have the hubris or arrogance
to say i'm always going to cause the
outcome because you'll get your ass
kicked pretty quickly and and humbled
the world in the universe is a big place
with forces
you know beyond
uh
but i think um
you know i also think a lot about being
intellectually honest which
when i do university talks and so forth
i
i think that's a superpower
because if you find yourself making
decisions
based on other people's
expectations based on
places you don't want to go but
you know you're either
you feel like momentum is taking you
there
um
i think that's a big problem and there
there are people that go to our top
universities
and
can't wait to get out and start their
own company and they want that pressure
and they they want to to grind
and there are other people that are
smart and talented but just say look i i
don't want to lay awake staring at the
ceiling wondering how i'm going to make
payroll i don't want that in my life
and i think if you can
square that up and be okay with it and
say what what makes me tick what makes
me happy
what puts me in a bad headspace because
there's a difference between challenging
yourself
and going against your nature
so that's why i think that being
intellectually honest and being able to
really sit down and go inside your own
head
and say what am i good at what am i not
good at
how am i going to put myself in a
position to be successful
because
you know i'm working on my weaknesses
but i'm not going to
put myself career-wise in a position
where i
i'm just fundamentally going to have a
hard time being successful
yeah intellectually honest is a tricky
one and it gets
there's like levels to it too sure
because um
well like some of the things you know i
i think about
when you
when you dream of doing certain kinds of
big things
uh
a part of intellectual honesty is to say
several things one is like
hey um
the thing you're dreaming about
like
one the fact that nobody's done it
probably shows that you're
you know
um
you're just a dreamer this this is not
this is not going to like think clearly
the fact that it hasn't been done
probably shows that it may not be the
right path
and
uh two is like if you're dreaming about
stuff there's a certain point where it's
like hey
you haven't done it like why haven't you
done it already then like you have to be
honest with yourself like you're right
you have to be ambitious like you know
a lot of people work hard a long time
for a dream but you have to wake up and
be like all right i've been at this for
10 years
like with a startup you launched a
startup and you think okay
one year two years three years four
years pretty successful you know but it
hasn't exploded like you dreamed and
you have to shut it down you know you
have to be intellectually honest there
at the same time
you might want to be
uh
like step it up lean into it
say almost like
um
the flip side of like intellectual
honesty is like
maddening ambition
i'm just saying fuck it i'm gonna go all
in
but that that is a kind of intellectual
honesty saying like you know the the big
problem here is i've been kind of going
doing too many things
um maybe with this
uh dream you have to go all in on it all
those kinds of things i mean this is
human experience it's complicated
yes without all human things are
complicated the the and i think there's
a difference
between being reckless
and making well thought out informed
decisions if you're going to go all in
make sure you you've you know measure
twice cut once as they say
and one of my other
favorite i i forget
many years ago i heard this saying and
it stayed with me it was
never mistake clear line of sight with
distance
and you know that so i i think that
the key whether you're starting a
business or you're thinking about
leaving the company you're at and
starting a business or just leaving for
another job
any of these things is as much as you
can
right and psychologists i think would
tell us it's hard to be self-aware
completely right that's the rub
that if we were all completely
self-aware of everything that we did in
strength and weaknesses
it'd be a different world
but i do think you can work on that
and at least
challenge yourself to to think about it
and not be in a position
where i'm you know i'm going to medical
school because that's what you do in my
family and even though i'm
miserable doing it
uh you know things like that
this is a definitely you don't want to
be sort of um
because you don't think
fall
um victim to conformity let's just go on
doing the same thing over and over
that's right
but at the same time
is measured twice and cut once
um
it does feel like some of the
the biggest um
leaps
taken or where you
cut once and measure later
is you leap in first sure it's almost
like a gut i suppose that is a
measurement but you build up a good gut
uh instinct of like what to do and then
you just do it and then you figure out
as it's the building the airplane as
you're flying it right
well and i think each one of those uh
instances that you could probably cite
has its own
unique circumstances right i don't have
a deep biotech background so if i
suddenly stood up and said i'm going to
put everything i have into this idea
well
that's you know those are right it's
game theory right what are the odds of
success
if on the other hand
uh you know you're you're brilliant in
your field or you've seen some
opportunity that you
you think is wide open
and you're gonna go for it and break
stuff
that's great you just want to wait to me
always say like
how crazy is this on the spectrum of
you know do i have any expertise
what is the downside if i fail
right
you know if you're if you're at a
certain point in life with young
children
and you've got a mortgage or whatever
else that that is one circumstance
versus i just got out of stanford or i
just got out of whatever and i'm gonna
go for it
it's just
the whole thing right it's it is complex
as you point out
and sometimes you just want to have the
right matrix in your head of
decision-making process to try to arrive
at the right place and even if you get
close that's where i think you say you
know what the hell with it i'm doing
this yeah
yeah
i do want to ask you
about
specific idea that uh sounds super
fascinating that you're involved with
recently you led the 50 million dollar
seed round for a company called colossal
that is focused on
de-extinction
uh this is funny relative to our
connection uh and conversation about
jurassic world
they're seeking to restore lost
ecosystems and use gene editing to
restore the
woolly mammoth to the arctic tundra
uh
how are they gonna do that
well um i met this fascinating guy at
harvard named george church
five six years ago
um and found him to be incredibly smart
uh have an imagination
um
and
he partnered up with a guy named ben
lamb who's an entrepreneur
and basically
the the uh the press and to me the the
imaginative like you're capturing my
imagination by telling me you're gonna
bring back the woolly mammoth and other
extinct animals and i
you know we'll see where that road leads
i'm was more interested in an investor
in the things that they're working
through
uh around understanding
genes and more in proteins and crispr
and all these other things because
um being adjacent to george church and
his team as these things unfold over the
next decade i i thought was
uh the right the right thing to do
people are important here just like
investing in people and seeing what the
hell they come up with absolutely i mean
you can look through history
and
um
great things are done by great people
right and companies
they end up over time becoming a logo
and immediately what you think of them
but they started out
with a person with an idea and a team
that cultivated that and made that
happen
um
and i and i think there are certain
folks that are just immensely talented
that if you can be around uh them
and i also know his
and his team's
ethics in terms of you know after
spending time
talking about where the lines are
people in other countries that you know
may not have the same
process may not have the same checks and
balances are doing this and pursuing
this regardless so
at least i felt like with george and ben
and their teams they're also very
responsible people
this is where the human
side of things comes into play
i've interacted with a lot of really
brilliant people in the technology space
where you kind of
you know there's a lot of ways to feel
this out you can ask them whether they
kind of read literature you could you
can feel out how much they really
understand
about like
human nature here like
whatever the technology is when it
actually starts to
play
interact with society at scale
like do they have an understanding or an
intuition about how that happens some of
that requires studying history some of
that requires like just looking at the
worst and best
parts and
events in human history to understand
like hey
it doesn't always turn out like
everybody hoped
uh the technology turns out and
if a person has a depth of understanding
about
history about uh
human nature then i think
that's the right person to um
to mess with some of this cutting-edge
stuff
yeah you want marcus aurelius with a phd
from mit
[Laughter]
exactly
exactly um
you just small tangent but you mentioned
having a conversation with warren
buffett you spoke really highly of him
as an investor as a human being
what about him do you admire what uh
what
what from him what insights have you
drawn from him as a as a great investor
yourself
well the afternoon that i got to spend
with him which you know something i'll
treasure forever look sometimes when you
meet people even that are immensely
successful
you
you may decide that after
20 minutes or a half hour oh
you were in the right place at the right
time and
you know that's that's fine
uh there are other people
that are clearly different special and i
don't care if you made him start from
zero
you know would would end up
in a good place
and so it was it was a absolute
privilege to spend the time with him
um
you know a couple of things that stood
out in the conversation
um he is incredibly intellectually
curious and well-read
and i like how simplistic he likes to
keep his thought matrix
and then also
instead of trying to outsmart the market
it seems like a simple axiom but just
look
good companies that are led by talented
managers
that our good businesses over time
are gonna get there so i'm not gonna day
trade i'm not i'm just gonna i'm looking
for
uh for value and then just on
life stuff he just
you know and also his
ability to take in
and then use
information
uh it was incredibly impressive so
uh i only spent the you know i'd met him
before but i only spent one afternoon
with him but it's
you know pretty incredible and one of
the things that stuck out to me
is we were in the middle of talking
about
tulco or investing or how we thought
about it and i said uh you know i'm
trying to be smart about and he stopped
me and he said charlie munger his
partner of many years charlie and i
don't try to think of the smart thing to
do
we try to think what's the dumb thing we
could do here
and i kind of laughed and he said no i'm
i'm dead serious we think about it from
the standpoint of
what could we do in this situation that
later we would be like that was a really
dumb thing to do
and i actually thought that was
me it got in my head and i i still think
a lot about that as i'm as i'm
dissecting problems
so there is uh
like
that's a kind of long-term thinking if
you just avoid the dumb things
or if you uh if you simplify ever
just focus on those simple steps
all it takes is just do that for a long
period of time and you'll be successful
well it certainly worked for him that's
all i can say what what about what about
you uh you've been
uh a great investor yourself how do you
know
when when you judge people
so i
whenever i go to san francisco i was
thinking of moving to san francisco
that's why that's why i decided to after
really giving us some thought talking to
people decided to move to austin
you know um
everybody's dreaming big and they have
big plans and it's actually
i don't envy the job of the investor
of any kind
because everybody has big dreams and
it's it's hard to know who exactly
uh what idea is going to materialize
what uh what team is going to
materialize into something great how do
you make those decisions about people
about ideas
well if i had any kind of a
lattice work on this
it start absolutely starts with the
people and i think the reason for that
is
your business plan
is going to change
right there's very few businesses i know
of that say we're going to make a widget
in this location and 30 years later
we're successful and we just make a
widget and that's what it is
things happen right and today they
happen with such velocity
that
you have to be able to make
hard decisions based on imperfect
information
and are you
how are you going to calculate those
answers
how self-interested are you going to be
what kind of ethics will you apply
what's your short-term versus long-term
thinking are you able to give an honest
assessment of a situation
because the thing that you can count on
is problems are going to happen
things you didn't anticipate are going
to happen
how pliable are you
right
how much elasticity is there in in your
ability
uh to to be successful and i think
it's important when you invest in
something that you both see
you you you understand the road map
ahead and agree to it
right doesn't mean there won't be twists
and turns but you're not like well wait
a minute what did we do here i this
isn't what was in the
the thing i signed up for um
and then i think
honesty and communication is a huge
thing to me with
you know i always tell people if
bi-directionally
if there's something going on start the
conversation with
you know lex we have a problem
okay now
we're i'm sitting up you have my full
attention we're going to talk about
whatever it is
bad news should travel faster than good
news
and because
it's going to happen
being in business with someone that is
going to shoot you straight
and sometimes say i don't know
yeah i don't know what the answer is i
got to go figure it out
that i can process a lot better
than look i i don't want you mad at me
or disappointed or i i can't handle not
having success so we're just going to
kick the can and i i think especially in
today's business environment that's very
very
dangerous so that's a bad sign not just
because it's uh good to do to
communicate and be honest but if if
they're not willing to do that then it
goes back to the intellectual honesty
they're probably not also able to be
brutally honest with themselves when
they look in the mirror about the
direction of the company but look
i i
wasn't there so i don't know but i think
if you unpack
many situations that turned out
negatively
most of the people whether you're faking
lab results right you have a biotech
company we have everybody's staring at
theranos these days
do i think in a lot of cases
you're either the villain like you
started out saying i'm i'm gonna screw
my shareholders over and i'm gonna be a
liar
that
that that isn't my experience
most things are little incremental moves
that you say
we're going to get this right next week
but today we got to make the
presentation so we're going to just
tweak things a little bit
that's a slippery slope
right and so
that's why i think from a standpoint of
people
you want to go into the foxhole with
folks that
you know understand
things are going to happen and i'm going
to let you know about them and we're
going to try to solve them
together
and and then just in terms of the idea
it's
i always ask like okay if this company
executed the way that's the other thing
always cracks me up about financials
whenever somebody pitches you
inevitably they'll say our projections
are really really conservative
i'm i'm still waiting for somebody to
come in and say look my projections are
wildly optimistic we'll never hit these
numbers but
anyway um
it's uh
you know if this company did what it
says and executes and does it matter
yeah right does it move the needle
enough and and what are the
what are the things that uniquely
position this company to be successful
and you just have to be able to answer i
think a number of those questions
uh pretty crisply
but at the end of the day it's still a
big risk so you're just trying to
to try to minimize the risk
let me jump to another topic
you're an incredible
human being that you're involved with
this your band
ghost hounds is touring with the rolling
stones so before we talk about your band
let me ask about that
what's that like
playing with the rolling stones
surreal just because
they're my favorite band of all time
um
there's to me the greatest rock and roll
band it's not even close of all time and
you know to to share the same stage to
to be on tour and
to go out and get that energy from the
crowd um
you know
and every night and come off stage and
later when they go on and you hear that
iconic ladies and gentlemen the rolling
stones and then
it's incredible and you know what's
what's amazing to me about the band next
year will be their 60th anniversary 60
years
and
it's it's hard to be around anything for
that long
but making music and packing stadiums
and what's amazing to me they can play a
two-hour set and it's not just that oh
that's a hit or you recognize it
it's like every song is an anthem right
yeah so
uh so it's it's it's been amazing we got
to play with them in 2019 and when they
ask us to do this uh again
um it's just it's just a
absolute privilege i asked you this
offline so i know you are a kind of rock
star yeah but
just me maybe i'm projecting but do you
get
nervous
such a large audience with the rolling
stones
it feels like there would be a lot of
pressure
yeah i mean you you definitely don't
want to screw it up i think
um the band our band
you know is tight-knit and all that
stuff and i think that you
the individual nervousness dissipates
when you go out as a group and you're
making music together
and you sort of
okay we're all in this and you know
we're we're doing a thing which is why
even in sports i always look at
individual events like ice skating or
you know anything where it's just you
out there alone
and that's that's different than being
uh with it with a team and nerve
wracking so
um
i'm sure if it was me with an acoustic
guitar just going out
it would feel different but absolutely
you get
the right kind of butterflies i would
call it
um
and just the energy
of playing music and having it be this
relationship and you and look i i get it
i've been to a ton of concerts where i'm
like look can we just get to the band
please
but uh what's been great is just an
amazing reception
um
and we have this this uh guy named trey
nation who's the lead singer is just
incredibly talented i mean
he's just uh
not only an amazing voice but just has
that charismatic thing yeah so he's
great it's fun what's it feel like
to play in front of a huge audience
what's uh what's the as a guitarist like
what's uh they feel are you lost in the
music like you almost don't
feel the audience
does it add extra energy does it ex
extra anxiety what what is it make
what's it feel like
you know stadiums are interesting just
because it's so big and cavernous
and because you know you want to protect
your ears so we use an in-ear system so
that you are a little disconnected
from the crowd because if you're playing
that loud and you're standing in front
of your amps without ear protection that
that's bad
how are you monitoring the sound are the
in-ear stuff is that producing sound or
is it strictly ear plugs no it's
producing the sound so
it's like putting ear pods in and
listening to a song and you're playing
to it right it's just us playing but it
protects your ears
um
but the the energy from the crowd when
they when they get going and get into it
which knock on wood so far has been
amazing
um there's nothing like it
i mean there's
it's uh it's just this bi-directional
thing that happens and um
i
love music was kind of music and sports
were you know kind of my first loves and
um
it's uh
yeah it's it's very difficult to
describe i think accurately
because it's like no other feeling
musically
how is it different than playing in a
garage with the band by yourself
practicing
like is that do you do you feel like
you're creating something different
when you're when you're um
when you got the guitar and the amp and
just the sound dissipating out into and
everybody's listening was is that
it's uh listen the first time we did it
and there's nobody in the stadium first
time i ever played in the stadium and
i'm just like
i'm out there in front and just hitting
different chords and playing different
licks and i'm like
it's like i won a contest and i get to
do this
but uh
you know what's different about it
and each venue is different so if you if
you
um
we went on the road with zz top a few
years ago which was incredible love
billy gibbons he's a texan
um incredible person and guitar player
but
you know when you're playing in like
five to seven thousand seats
it's really i mean it's you know you're
right there with them uh with the crowd
and then when you play in an arena
um for we we toured with uh with bob
seger on his last tour which was cool
played some shows with him
and again the arena like they're all
kind of packed on top of you
and it's super loud which which was cool
um i mean the crowd is stadiums is a
completely different animal
and uh
it's it's just a completely different
experience do you enjoy it versus like a
smaller room
as a guitarist
as a musician what's your favorite like
room to play of the size any room
that'll
arenas are the perfect blend yeah if i
had to say because it's loud and you
know 20 30 000 people
but like right up yeah right up on you
stadium
look playing the stadiums with uh
with the rolling stones is it just is
going to go on the head marker somewhere
is
one of the more you know i say this and
i really mean it my my life is like a
punk episode that just hasn't no one's
burst in yet yeah but um
yeah it's it's as cool as you think it
is so 60 years how do you think mick
jagger still got it
how do you know how do you explain it i
i got to tell you so i mean
the funny thing is
whatever
wherever there is excellence people want
to know how'd you do it yeah right
what's the secret
not only is mick jagger and i think the
songs that keith richards and and mick
jagger wrote together if you go back and
listen to the lyrics
it's just
incredibly poignant and
i'm just a huge stones fan so
but
he works out like a maniac
right and it's
it's that 10 000 hours thing and it's
that
hey maybe i don't feel my best today but
i'm going to get up and do my routine
and work out so that it you know at his
age which you know i mean you can look
at people at different ages
chronologically that are
you know maybe we're both at this age
but i'm a lot older than you are vice
versa
and he just uh
i think it's the combination of raw
talent
and the ability and he's he's very smart
right like he's
understands how to have interaction with
a crowd and hold him in the palm of his
hand and be an entertainer
but then on top of that the reason he
can at this age run around stadiums
and be just as energetic as he puts the
work in
and that's one thing step that i think a
lot of people miss sometimes where they
want that magic trick they want to know
what's the shortcut
most of the time the answer is there's
no shortcut yeah you have to
work hard on the way there and work hard
to stay on top
that's it and and sometimes it's not
even like work hard it's just like um
it's like be a professional
which that involves like in his case at
his age with the amount of stuff you
have to do on stage in the way he does
it for two hours you
have this is a professional athlete
a professional athlete
that has to do things that are probably
designed for 20 year olds and 30 year
olds has to do an older age which means
like what do you have to do well you
have to probably he probably has like a
whole physical routine he has to do
diet the whole thing and it's hard
look
if you want to do great things you
probably have to do hard things yeah to
get there
i'm not gonna make you pick just stick
on the stones for one more minute um
but what are some
great
rolling stones songs that were
impactful to you lyrically musically
maybe something uh
you like playing uh like air guitar or
uh i don't know
probably my favorites i love sympathy
for the devil yeah uh it's a very
i don't know sort of faustian i i love
the lyrics i love the how the almost a
voodoo beat just kind of builds
throughout the song
um that's that's always been one of my
favorites so in that song he never
mentions devil does he no wait sorry uh
uh
like you know my name yeah there's a
there's like a flirtation going around
in the in the lyrics it's kind of
interesting
it's here's all the trouble i've caused
along the way with you humans and i i
just think it's really really great and
musically builds really nicely yeah it's
it's it's like both fun and dark it it's
it's cool it's a
uh
it's there's a playful nature to it it's
uh that that's very stones like the only
they can pull it off because it's like
playful but it's also like dark and
dangerous dangerous dangerous yeah yeah
and and give me shelter in the shelter
it's just
you know and um to this day when i
listen to the studio version
and mary clayton just comes on and sings
that
epic
iconic part
and uh there's a documentary that was
done
about uh backup singers
uh phenomenal and it tells the story
of
that moment in that song with mary
clayton and it's just uh
her voice and and the way it unfolded
they got her out of bed at like 10
o'clock at night in la and she's like
the rolling stones what
and went in and just killed it
and um i can't sing at all i'm by
ordinance not a lot around a microphone
so i'm always in awe when someone
can sing like that
um
but uh you know those are those are some
of my uh my favorite rolling stone songs
and painted blacks awesome i mean i
could go on yeah painted black is great
again a song that builds is badass i
mean it defines that whole generation
what made you pick up a guitar what made
you fall in love with the guitar
it's just the coolest instrument
right i mean when you watched back then
you know and i was kind of an old soul
i was listening
at a fairly young age to
muddy waters robert johnson lightning
hopkins bb king and just the soulfulness
thrill is gone oh my god i mean
bibi plays five notes and just
kills it
and the emotion that that it evokes so i
i just
was just in awe of the instrument
and uh
you know i i also there's there's always
somebody
around who's a musician that just picks
the instrument up and can play
right and they're just so talented at it
and they can just listen to a record and
play that that was never me
i i never took formal lessons i had to
grind
you know to just
make it sound like i wanted it to sound
so both technically an ear
everything was hard work yeah i mean i
could hear it
um
and
and what they call you know you're you
play so my right hand yeah the you know
the rhythm side of it is uh that's
probably if i have anything my my
strength
but there's something
pretty amazing that happens when you get
together with other people
and play a song
in that moment where it hits the pocket
and you all kind of know it
and it just
it's just such a cool feeling
and uh it was interesting growing
growing up because i was again i always
had eclectic interest so i loved math
and physics and science so i had those
friends and i was an athlete and played
football and baseball and basketball so
i had my jock friends
uh and then i had my music friends and
it so it was it was just
kind of that
and um
so when i was still living in los
angeles and had uh
legendary i just missed playing
and so i i put this band together
and called it the ghost hounds because
again huge robert johnson fan and that
legend of robert johnson selling his
soul at the crossroads in exchange for
his musical talent you guys have that in
one of the videos yeah yeah such a cool
video exactly so i always i just thought
like that's
that's such cool lore
um i just love the blues so robert
johnson would often would would talk
about hellhounds on his trail
and so i always
just thought
huh what about ghost towns so that's i
wish it were a more clever deeper story
but that that's about it for that name
that's pretty deep robert johnson is
incredible but you also talk about this
that you you connect to the storytelling
of blues
so what makes a good story in a song
like what what aspect of storytelling uh
connects with you in song so i'm a big
lyrics guy too i love uh like
deep
lyric people like tom waits and
uh like people that are like you know
leonard cohen like that are you even bob
dylan that are like
obviously yes poetry and then there's
some people like the rolling stones
there it's like seemingly simpler but
it's still so much more to it it's like
less is often more
it still tells a strong story yeah and
there's there's certain people and
jagger and mick jagger and keith
richards are in this boat billy gibbons
they just say things in a certain way
yeah they're just cool right it just uh
and so you know i i write our music and
lyrics um
i have to tell
a story i have to know the characters in
the song i'm not good at just
writing some rhymes and having it match
up to the right key and the right music
i i have to understand like
that's just me i i've and uh
so i think that look if you have three
or four minutes to tell a story
you have to be more efficient
with your your use of language
and you have to understand what you're
building to if anything and evoke
uh emotion and hopefully
for those three minutes get the listener
to understand not only the point of the
song but where you're coming from and to
make you feel
uh a certain way there's a song that you
know the audiences seem to like a lot on
the new album called good old days and i
wrote that because
especially during covenant reflecting on
what what normalcy looks like and what
it what happens when you're cut off
i i just was kind of taken with this
idea of
that when you sit around and reminisce
with friends
oftentimes
it's not just like some big event
happened
it's remember that summer we'd go up to
the lake all the time and it's who you
were with
and at the time
it probably seemed pretty pedestrian
right it just seemed like kind of a
normal day
but it was the company you were keeping
it was the time in your life it was
whatever it was and i just kind of
struck me that
right now
we're doing stuff that you're going to
reminisce about later that
seems kind of ordinary be like man that
was such a great time
so the idea is be in the moment and all
that stuff but these are the good old
days
and then enjoy it and soak it in and and
you know kind of be present for it yeah
it's a great perspective to take on the
present because we are in the thing that
will remember we're living through the
thing we'll remember and sometimes the
things we'll remember is the simple
stuff it's a little stuff yeah
outside of uh
keith richards who is the greatest
ridiculous question but just indulge me
who is the greatest uh blues guitarist
of all time rock guitarist of all time
well you got a little bit of a hybrid
with jimi hendrix right because he
played the blues and he played rock and
roll so i i think most guitarists would
say jimi hendrix is pretty yeah
ridiculous
that that probably for me i'm a huge
huge huge hendrix fantasy because he
can't you can't i mean
even to this day i don't care technology
pedals whatever he just
somehow fused
with the instrument
um i can't be sitting here in austin
texas without mentioning one of the
great guitar players of all time
uh stevie ray vaughan see that's how i
know you're like a rock star you're
sucking up to the audience
all over the place yeah
stevie ray vaughan is another one of
those that is incredible just blows me
away um
and and then with the older guys and b.b
king hubert sumlin
clapton
clapton's
i saw him
on his last tour and just walked out
with you on my
just like unbelievable how he still
sounds
uh so uh in both electric and acoustic
yeah just he's a fast range absolute
master
and the greatest storyteller you
mentioned bob seeger that's that's
that's an interesting one he's he
doesn't he almost doesn't get
enough credit i feel like for how great
he is obviously he's super famous but
now he's
in his voice
i i also i have the privilege of of
getting friendly with john fogarty
uh you know john fogerty and ccr fame
and he's another one that's just
the way he phrases things and you just
look at the catalog of stuff he wrote
uh an amazing talent
um i read uh
spring bruce springsteen's book
and was i'm a fan but after reading the
book it was really you go back and
listen to his lyrics and
the way he pours himself out you know is
uh is pretty incredible
um
and then again with the old blues guys
i just think the emotion they could get
out of
playing like this staying on the one
right just playing the same
rhythm john lee hooker
uh you listen to manish boy by uh uh by
muddy waters and it's just
there's something so
it just draws me in every time and the
emotion they're able to get out of
things
um and i'm also a huge chuck berry fan
i just think that sound is uh i love it
uh do you know how to play johnny be
good
i do
yeah that's good
maybe you know one of the great moments
at least of my childhood was uh
back to the future yeah and watching
michael j fox plug in yeah and uh
and then at the end play play at the
dance to save his parents with johnny be
good pretty awesome yeah the guitar is
so much more than a musical instrument
it feels like it's like the
in the 20th century it's like the car
like it defines so much of hollywood so
much of a generation of what it means to
be
i don't know what it means to be a man
what it means to be a human in america
it's it's fascinating emblematic to me
of
a certain type of music yeah and that
that's uh i made a documentary years ago
called it might get loud yeah with jimmy
page highly recommend that everybody
watch that documentary it's incredible
celebration of the guitar yeah it says
uh jamie page
jack white from my stripes from the edge
and the edge from you too
okay all right well now you have to tell
the story of that one because
how the heck did that all come together
because it's so fascinating such
different musicians all coming together
talking about their story talking about
how they approach the music and also
playing together a little bit in this
casual kind of setting well look i one
day i came downstairs and i the rolling
stone magazine is sitting there and it
was the 50th
was the 50 top guitarist of all time
their list
and then i had some other financial
report with video games and the top
video game at the time was guitar hero
right and then there was a third thing i
can't recall it but i just
and i said to myself what is it about
the guitar
that is so
central
to the rock and roll whatever you want
to call it like why is that the symbol
um
and i said to myself
i want to ask jimmy page why he picked
up the guitar because he's jimmy page
right
and so i called a friend of mine davis
guggenheim who had directed inconvenient
truth and i think still is but at the
time was the biggest documentary ever
and i called davis and i said look i
have this idea i want to make this
movie about the guitar
about different eras and styles and
whatever but i've never made a
documentary i don't i don't know how to
do that so i was just looking for advice
and
thankfully because he's
one of the best
documentarians ever
davis is like you know what i can't get
this out of my head i'll direct it
which was amazing and we we wrote three
names down that represented
different eras and different styles
rarely do you get
you know you go three for three
but it was it was those three guys
and um
it was just it was just such a
incredible experience to sit there and
get to know
jimmy page you know i mean it was like
and he was
he was like gandalf man he was like
always
jimmy page yeah and um that's so cool to
see him
gandalf was
there's like a wisdom there's a calmness
to him compared to like the uh
restlessness of uh jack white like the
um
i mean that that combination was just
fascinating it was one of the coolest
experiences ever
and one of the things there was a moment
where jimmy he was going through his his
guitar case and he had the double neck
from stairway to heaven and he handed it
to me and i was like
i mean
it's it's like somebody handing you
excalibur or something yeah yeah
uh amazing experience and the edge
one of the kindest human beings you'll
ever meet in your life
just an amazing person
um and i think he hit it right in the
head with jack is he's got that
that energy you know and constantly
pushing himself
but uh it's hard to believe it's been i
think 10 or 11 or maybe even 12 years
since it came out but after watching it
i realized like
how much it was needed and
i was almost surprised it didn't already
exist
it was like
yeah the guitar wasn't quite celebrated
like explicitly we almost didn't
acknowledge it
how important it was culturally it's
kind of amazing and the way it closed
from the song uh the the wait it was
it's called the weight yeah by the band
yeah yeah
that's because they didn't want to go
home yeah
we were shooting on a warner brothers
sound stage for three days when we
called it the summit where the three of
them came together yeah and the two
things i'll never forget is when jimmy
starts to play the riff from whole lot
of love yeah
edge and jack ceased to be
rock
you know rock gods or whatever and
had the same 15 year old kid feeling
that i did you could see in their face
and then at the end they're like hey can
we play we just want to we don't want to
go can we just play something
acoustically yeah so we printed out the
lyrics that's what they wanted to play
and they just sat there
and sat on those couches and just
such a good way to end yeah it's
incredible
what's your guitar rig
setup like you you also you have a few
guitars
first well let's let's just put on the
line so what what's uh better les paul
or strat
well i'm not going to get into what's
what's better because i'm sure that'll
start a flood of whatever for me
i'm going to say it's strat all right
i'm just going to put out there
my main instrument is is a les paul but
i okay okay let me just put on the table
i'm speaking as somebody who literally i
i i don't think i've ever actually
strummed a chord in the last ball so
i've been i'm not maybe yeah uninitiated
yeah exactly so i don't i i don't speak
from experience but i
it's probably because of hendrix i'm so
deeply influenced by hendricks that sure
i just kind of followed his footsteps
and clapton and so on the amazing thing
to me is if you look back at leo fender
and what the gibson guitar company and
les paul did in the 50s
those are still
the shapes and the perfect thing today
right the strat and the telecaster yeah
the last paul
and it's they got it right way back way
back then so
um
i have uh my main guitar you got to name
your guitar so my main guitar is named
hazel
and it's a 59 les paul
and
there's something magical
in that year like a stradivarius
and they're just
there's something different about them
um
so i i play that and then i play it
through
sort of my main rig is either a 59
fender
twin uh or a 65 um
marshall
and then
when we're on the road now because when
you use older vintage stuff you just got
to be super careful the tubes and
everything it has to be reliable so very
nicely the guys from two rock
sent me some of their amps and they're
really because i don't use any new stuff
but the two rock stuff is is pretty
great so that's actually what i'm
talking about it gets close like it's a
close to the sound that you like with
the market yeah yeah it's new and
reliable so that's what i'm using on the
road right do people use like emulation
do they use software is it still they do
i i personally don't i i go you know i
don't have many pedals i use a clon an
old you know vintage klon
straight into the amp and go
as old-school as possible yeah is there
other cool guitars you have that kind of
stand out
i have uh a bunch of what they call
blackguard telecasters from the 50s um
which are pretty great what are those
black guard telecasters yeah so they're
just notes oh they actually legit have a
black card
guard got it uh but they're incredible
so what's the color of the telecaster
itself most of them are yellow with
black and then they got into different
configurations but there's something
i have a 51 telecaster
that i i play an open g on and songs
with open g that just
again there's something
you know and i'll take all the help i
can get in terms of you know making it
sound great so i'll try to find the
magic ones what's your writing process
like
for uh the music and the lyrics
is there
do you have to go to the uh
the mountains is there whiskey involved
what do you have to do or do you just
write a little bit whenever you have a
moment of free time i'm a boring guy
because i don't drink i don't i just uh
i figure i can screw things up plenty on
my own without adding anything that's a
good call um but uh
you know for me it either starts with uh
with a riff just some
something that i think is an interesting
you know riff or tone that i i can kind
of sink my teeth into a little bit
and a lot of times i'll write a title
and love a title and then start to oh
cool
so the title is almost like an idea yeah
like this is where i want to be
and and then start kind of writing it
out and again
i just have to know
am i writing from a character's point of
view am i writing about someone or
something
you know is like the narrator
and you know what is this person are
they happy are they sad or they
where are they in life i i don't know if
all that like
great writers i'm sure would say
why don't you just write you don't need
all that
uh but that's for me that's my process
well i'm not so sure about that and i
bet you quite a lot of writers
have
create a world in their mind
before they even put the simplest awards
down so yeah there's
there's quite a lot to that
what's your favorite song to play
is there some favorites one favorite
ones you go to but both play and kind of
i'm sure you love singing no no no no no
you don't i'm not uh i'm neither
talented nor do i have the the desire
and i think uh
you know if you come see the show you
won't see a microphone anywhere near me
but do you i mean do you hear like when
you're thinking about lyrics do you hear
the idea of the words
and especially
what's great you know with trey is i
write for his voice and then we have
these amazing
uh backup singers that that are are just
and i i can hear all of it i just can't
do it
um and so uh i'd say to
of our stuff there's a song called half
my fault that i play in open g
that just
i i love playing the song i love that
energy
and then there's uh we have a new blues
album coming out
and there's a song
called baby we're through
and it just stays on the one and for
non-musicians that means like in a lot
of rock and roll and blues it's what's
called a one four five
uh progression from your your kind of
root note and you would hear if if
you're a non-musician if you heard it
you'd be like oh yeah that's a lot of
songs
and this song just stays on the same
groove like uh look range
or shake your hips or any of those songs
and it's just got this unbelievable
energy and it's fun to play but i have
to keep the same
rhythmic thing going for the whole song
with that simplicity i mean the
the personality of the song can really
shine i mean trey's
i mean that guy
um
really cool it just comes through
i mean i guess you need that from a lead
singer as you said he's just
you got to have that and my other guitar
player uh johnny bob is uh
he's a phenomenal i mean like a
legitimate guitar slinger
um you know we probably split the lead
70 30
and he is just
you know there's times sometimes i look
over at him and i'm like i'm being a fan
right now because what you just laid
down is pretty good
from a lead perspective what's the most
fun thing to play
what do you what kind of stuff do you do
like slow do you like i mean if you feel
like thrill is gone there's uh so if you
look at bb king sometimes one note just
bending the shit out of that yeah what
do you call that vibrato yeah if i'm
gonna play the lead it's a certain kind
of feel slow blues is probably my
favorite
to play
or something that's got a little more of
that chuck berry drive
where you can be rhythmic in the lead
um
you know i can't the shredding thing
that those guys do is that that's not
yeah my i was actually always able to do
that
really well like you mentioned people
that pick up fat like maybe it's the
classical piano training i could i could
play super fast and guitar super
technical but to me the hardest thing
and the the my favorite things
is just um
has probably less to do with a guitar
more living on life that's worth playing
a guitar for
it's like a certain kind of
emotion that you can put into the notes
and that has to do with bending notes
well like bending nose is a whole other
art form
of um
i worked surprisingly a long time on
comfortably numb
um
and there's the so so david gilmour is
does a lot of bending and they're simple
there's they they they sound simple
but
they're the the dynamics of them
to express like a build up in the way
it's held and there's often a vibrato at
the top for for a bit
just
that um
the the the it's almost like a sigh
and a sigh of relief and the build up i
mean it's just the
that's an art form for him that's hard
to get right it's not just playing a
note playing a note playing a note it's
it's in that like dynamic movement of a
note that so much can happen that's
where the blues just happens to it's
look i'm a huge freddie king fan too
right who and
you listen to these guys and they're
you sit there and they're like man
you're you're playing
in a small range on the neck
but
in you know it's like i know the notes
you're playing and i'm playing them too
but
not like that right i mean it's in
gilmore is certainly one of those guys
that's
incredible guitar player and yet another
chapter
of an amazing life
you love football like you meant you you
play football yes what positions you
play wide receiver wider sear
awesome so um
maybe you can talk a little bit about
your love of football
and the fact
that you are
part owner of the pittsburgh steelers
yeah so i mean where do we start you
start at the beginning let's start at
the end
why the steelers what attracted you to
the uh
first of all i think
not to be controversial but one of the
best uniforms in football in terms of
just like black and gold just
decal only on one side yeah it's great
yeah the helmet
look i've bled black and gold since i
was a little boy
uh i grew up in upstate new york
and uh the first football game i ever
saw was the steelers in the super bowl
is a really little kit and it just
i mean jack lambert and joe green and
franco harris and those guys were like
came down from
uh olympia mount olympus or something
and
i just was enamored with the team and
because we only had three channels the
only time i'd get to see him is
occasionally when they were the game of
the week or something
um
and i just
loved
to me what they stood for the toughness
and they played football
you know the the way that i thought i
thought was was great i was a huge jack
lambert fan
uh our all hall of fame uh linebacker
who just intimidated everybody so that
was like the that was the decade of the
the steel curtain
i mean arguably one of the great sort of
defensive of in in football history and
also one of the greatest
football teams period of in football
history i've been a lifelong fan
um
and was very fortunate to meet mr rooney
uh the the rooney family started the
team in 1933
um got to know him
and uh
just was asked to be part of the
ownership group i think it was the end
of 2007.
first year as part of the group in 2008
we won the super bowl and it was like
beyond surreal
and just beyond surreal and um
you know it's it's uh
it's amazing to to be able to do i mean
the rooney family is one of those
most revered
in sports for the way they they conduct
themselves um
mr rooney
uh passed away i think five years ago
now and we lost him but was a champion
help build the league i mean
put the league as we know it together
more importantly was a civil rights
champion um who created what we now call
the rooney rule
uh to to make sure that we're being fair
about uh giving minority coaches a
chance to get hired
and um
just just is one of the most kind and
amazing human beings i ever ever met
it's incredible what sport
does
um
like to bring out the best in people to
give people hope to inspire people there
is something about football that
has all the elements of a great sport
it's the teamwork
it's the sort of the combat aspect of it
it's like it's the purity of it it's uh
of like
strength and power and speed
and all the elements of like
last minute close calls required to to
win the game
and uh where referee decisions of course
that's essential for a sport can screw
up the whole thing just got all of it
together i think uh just
i don't know it gives the the drama and
the triumphs are just beautiful like
some of my favorite memories i don't
know if it's an accident or this is
common with people
is just with friends watching football
yeah and connecting over that
yeah well it's look it's an incredible
game because there's nowhere to hide
right you're out there on the field it
you know it's uh
it's a great game that requires
not only all those attributes that you
said but it's it's incredibly complex
game
so if you don't know what you're looking
at and you don't understand how complex
defenses are trying to disguise what
they're doing
offenses are trying to overcome that and
and you can set up one play the entire
in the entire game but a team
that plays well together
right knows their plays inside and out
knows their assignments inside now can
overcome and beat a more physically
gifted team
because of that
uh you know work that that aspect of
working together one of the things
that i always loved about sports is just
you're out there
there's a set of rules and there's a
scoreboard
so at the end of that game it says and
you can make excuses about the refs or
this happened or that happened but
you know at the end of the day
did you go out and compete
and when you went out
and were a competitor
how did it work out
right and and the simplicity of that and
the purity of that
um is something that i always have been
drawn to
what about the business of sort of uh
owning a team or putting together a team
or trying to like build up a team that's
going to be a great team like what are
some interesting aspects that people
might not realize that you can carry
over from
all the other
experience you have in business
i i think the hardest thing about
professional sports right now it's
individuals getting paid money to to
play a sport which is different than
it's certainly different than amateur
and you know the decisions that are hard
is when you get to know somebody
who's a player on the team
and either they're at the end of their
career or you need to go in a different
direction and that person
who's done everything that you've asked
you know whatever the coaches have asked
of that person and
you get close to them and then
when they when they have to be traded
released or whatever happens it's
you know that's sad and being able to
stand back and in some ways be
dispassionate and not be a fan right
there's a
um i'm on the baseball hall of fame
board
and uh one of the the guys that's on the
board of me is jerry reinsdorf and i
think it was jerry who said
you know if you act like a fan you'll be
sitting with them
um which i thought was kind of funny
well i got to push back on that a little
bit
as a by way of a fan asking a dumb
question
okay let me just give some examples i
it's very common in sport it's funny you
said this example of like
certain great players going to another
team right at the end of their career
and uh it always makes me sad it almost
makes me want to wish that you kind of
retired right there
um
from a perspective of just like
d do you ever
as a as an owner but just in that space
think about like
the steelers in the full arc of human
history
so not like as a business
i mean
okay this is my good news sir i don't
have to think about it right
you know i'm a minority owner so i can
think about it almost uh as a fan but
i'm sorry go ahead yeah well that's what
i mean i i suppose this is a dumb
question to think of um
like of a business in that way
not just investment but like
like legacy of like what footprint would
you leave on this world right on this
history that is one thing that i can say
unequivocally and i i only have the
experience that i have
but one of the things that i'm so proud
of
um about the way the steelers conduct
themselves is
and that's the rooney family that's the
legacy of the rooney family is asking
constantly about what's right for the
league what's right for the players
you know what what
what's the right thing to do here and
that that's something i would hear mr
rooney say
all the time so i think that legacy is
important because ultimately
the team belongs to that city right
belongs to those fans
and you know the owners are the
custodians of that
so i think
and when you realize what sports teams
mean to the fans the memories that
creates the bonds that it creates
it's a you know it's a
responsibility um
and i i i think that you do have to
think beyond the
you know certainly not just dollars and
cents but just
sports is a very big deal in our society
and and it has to be
i think held to a standard
uh that's not just
uh were we profitable this year or what
that's there are other businesses for
that
it is certainly a business i don't mean
to romanticize to the the point that
it's not but
it to me it's it's more than that or at
least my experience has been that it's
more than that it's a source of meaning
for millions of people
like and you see that
most like doing kovitz for example
when there's so much desperation so many
people losing a job so many people
having to deal with the uncertainty what
the future holds that's right there's
something about those sports that just
unites us that again the the the tragedy
and the triumphs
of sport of united of gathering together
with your friends with family shared
experience of over like this yeah over
just
team over rooting for your team for your
city
and the access you know again as i
alluded to
we didn't have anything when i was
growing up but i
would pour through the box scores i was
a huge yankee fan and steeler fan
and feeling some ownership of that right
that i could read the box score and
relive what they did and occasionally
see them on tv
and
feel like i was part of that celebration
when they won and everything it's a very
powerful thing
you've been exceptionally successful in
a bunch of avenues and a bunch of
efforts what advice would you give to a
young person a day a high school student
a college undergraduate that's thinking
about
career
maybe advice not about just career but
about how to live a life they can be
proud of
you know we talked earlier about
intellectual honesty and to me that's
the first step of just saying
to the best of your ability who am i
and what i what what's important to me
and what do i want to do and accomplish
if you can start with that
and develop some sort of rules-based
philosophical here's what i'll
what i'll do but i won't do
and
that way
you can be flexible and pliable and
you're gonna need to be but if you if
you still have
a compass
that tells you
hey at least i know this is the path i'm
going to take i think that's very
important the rules you're referring to
the principles
that's kind of like
underlying integrity so knowing what
lines you don't cross
on this path that's exactly right
because if you have those absolutes
there are many decisions that come into
focus very quickly
right because hey i'm that's not for me
or hey i i'm willing to do whatever it
takes
to to do x y and z and it has to do with
the thing you were talking about
it's kind of interesting you mentioned
this earlier in the in the conversation
about slippery slope and that's how
often it happens
like how the the the
slipping into unethical behavior happens
it's a slippery slope of little
adjustments you put stuff off
and that that i found that to be uh
i've been fortunate to
to not have to encounter these moments
very much in my life but i still
encounter them
that's what integrity i think
looks like is in
as this
the slippery slope is happening those
little things
is um without drama without
making a show of it
making a decision that stands behind
your principles and just walking away
yeah and besides the big ideas i'm gonna
change the world i'm gonna
innovate i'm gonna do all those other
things
i also start if i'm giving any advice
which you know we can debate whether or
not you know i should be given advice
but
just in terms of well let me start with
this are you a good friend
can you be counted on
do you do what you say you're going to
do yeah right
are you accountable to what you sign up
for and do you hold others accountable
right what what does all that look like
and then
i think it's
being as intellectually curious and
well-read as you can be we live in a
world that is designed to distract you
right and
being able to sit with your thoughts or
go on a walk and think deeply about
something and not just surface
area you text me i text you back and we
decide the fate of the world based on a
couple of text messages or something
um you don't want to lose touch
i think with being well read
and understanding
and standing on great thinker shoulders
and
learning from uh from from those works
and then i also think that
you know there's there's resiliency
and then there's grit
and i i heard someone say one time that
those those are slightly different
and
you know i'm also i know that there are
all kinds of challenges in life right
that that are tragic that are unfair
there's no question that's the world we
live in
but for me personally
to try as much as possible not to be in
the victim
mindset
because unfair things are going to
happen
and
you know we all want to live in an
idealistic
just world that that should be what we
aspire to
i'm i haven't seen that yet i haven't
experienced that yet but yet you still
have to function
uh in that world so
you know i i think that that resiliency
thing is very important
and then
putting yourself out there
right because if you play scared and
you're always afraid to fail
you know this is probably a dumb way to
get to the end of the podcast but
there are times especially when i'm out
west
uh i love the big sky out in you know
montana idaho places like that yeah when
you look up at night it's almost like
i've never seen anything like this
before because there's no
light pollution so to speak
and sometimes when i look up the most
daunting problems that i'm experiencing
i'm like those those things have been
there
for a billion years or whatever and i'll
be gone and it doesn't
you know the most famous person on earth
200 years ago
so it you know it's pretty fleeting
and uh so make sure you you have a good
journey and especially coming out of
covid
i think telling people that you care
about that you care about them and
maintaining and cultivating your
friendships and relationships and
they're not just transactional
right and and making sure that someday
when you're laying there you can say
yeah i was good family member i was
a good uh a good friend i was someone
that could be counted on i think all
those things go into the mix of
you know however you want to take the
journey so when you look up to the stars
do you think about
that quickly approaching end of yours do
you think about your own mortality do
you think about your death are you
afraid of your death
i'm a huge fan of stoicism right i read
a lot a lot of stoicism
um
i think ryan holliday's done a great job
of bringing some of that back into the
forefront
it's just
really thought provoking to me and and
rings a lot of it rings just hits me and
says i think that's right
and that moment momento mori thing which
is hey we're all gonna die so
you should contemplate it
there's a finality to this thing
and so i think if you can
rightly frame that
between
fretting about it every day and being
afraid
and being so laissez faire that you
think you know you're gonna
you're gonna live forever
it'll influence some of the decisions
you make
it will influence the way you attack
things
um
and hopefully
the the way that you live your life so
yes
i i wouldn't say i obsess over it and i
wouldn't say it's omnipresent
um but because i read a lot of stoicism
and just i think it's it's right to
pause and say
who knows right there's going to be an
expiration date
and if it happened tomorrow am i have i
done the things i wanted to do
and am i the person i wanted to to be
and i think it's important along the way
to check those things yeah i try to make
sure
that i actually visualize this that i'm
okay dying at the end of the day
at the end of each day
like if this is the last thing i do in
my life is talking to you
oh good lord
i'm uh
[Music]
i'm happy
you're i know you're joking but um
you know that um
yeah i'm happy i get to live the life i
do and i think momentum more i think the
the stoics have it right
so you and and you have it right in
saying
meditate on death enough to remember
that this ride ends pretty quickly to
help you appreciate uh
every day and the people you love the
people close to you and the cool shit
that you're doing in your life the cool
shit you're creating
and the fact that you mr thomas tall are
playing with the motherfucking rolling
stones tomorrow
you are the man in so many disciplines
so so respected so successful it's truly
an honor you sit down and talk with me
today thomas thank you so much
for showing up in texas and for talking
on this silly little podcast oh it's
great man i'm a huge fan of the show and
i've had a great time hanging with you
and uh really appreciate it
thanks for listening to this
conversation with thomas tall to support
this podcast please check out our
sponsors in the description
and now let me leave you with some words
from mick jagger and the rolling stones
you can't always get what you want but
if you try sometimes you might find
you'll get what you need
thank you for listening and hope to see
you next time