Boston’s Billion-Dollar Man

Published on
March 12th, 2019
Duration
76 minutes

Boston’s Billion-Dollar Man

The Interview ·
Featuring Jim Pallotta

Published on: March 12th, 2019 • Duration: 76 minutes

The global reach of Jim Pallotta’s interests span from Boston to Rome. In addition to decades of success in public and private markets, Jim ventured into professional sports as co-owner of the Boston Celtics and of A.S. Roma, one of Italy’s most storied football clubs. In this interview with Brian Price, Pallotta explains how he achieved billionaire status through an uncanny ability to pick winners while also effectively assessing the character of the individuals he chooses to invest with. After working alongside Paul Tudor Jones for years, Jim launched Raptor Group in 2009, where he continues to explore unique opportunities within the esports, machine learning, and AI spaces. Filmed on February 27, 2019 in Boston.

Comments

  • CC
    Chandler C.
    20 March 2019 @ 05:55
    Loved this interview. Mr. Pallotta does a great job of highlighting how companies without a business model that makes sense cannot succeed. His bit on the esports market in particular showed that. I'm interested to see his ideas come up for monetizing the esports platforms... as well as Mark Cuban's who has been raving about esports growth.
  • RA
    Robert A.
    18 March 2019 @ 18:35
    Great job Brian and an excellent interview, IMO. What about getting his son on? I feel compelled to weigh in just a bit on the comments of Brian going too much into personal background—it’s tricky as I really like to know who is holding forth on issues and giving opinions so I can give the ideas the weight that I think they deserve and to this end I DO need a certain amount of background as I’m unfamiliar with some of the guests. That said, I also want to get as much “meat” as possible from the interview and understand Trader Vic’s position (Victor, hopefully you realize that you operate on a different level than many of we RV’ers and that many of us need more background than you clearly would). Personally, I thought Brian did a nice job on the interview. I am very impressed that Trader Vic is active on the RV platform and always read is comments carefully—we are lucky to have his engagement (he is a legend)! Victor, I do think you were a little hard on Brian, and unfortunately, I think Brian was a bit defensive and perhaps “over reacted” a bit. Hope I didn’t upset anyone by this candid comment—I loved the interview and really respect Trader Vic and Brian Price.
  • TS
    Todd S.
    18 March 2019 @ 01:51
    Excellent! Thank you for sharing your insights
  • SG
    Sashi G.
    15 March 2019 @ 08:05
    Just a production related note. The sole of Brian's shoe is most prominent in the side shot that features both people, coming almost center-screen. I know it is a comfortable/relaxed seating posture for the interview, but note that Jim keeps his foot angled down. Not putting blame anywhere but it was disconcerting to me whenever that camera angle was used (quite a lot obviously). Takes away from the great production values in RV's content.
    • SG
      Sashi G.
      15 March 2019 @ 08:05
      Waited till 20 minutes of the interview before posting my comment; just to see if the shot (or my feeling) changed any.
    • SG
      Sashi G.
      15 March 2019 @ 09:47
      A simple shift in the angle of Brian's chair would probably take care of this. If nothing else.
  • TR
    Travis R.
    14 March 2019 @ 21:54
    Elon Musk haters are truly sad. If Space X and Tesla both went belly up tonight, I would still consider Elon an amazing success. Elon and his teams have forced major car manufacturers to push hard into EVs and autonomous driving. Ask yourself where would the car industry be if Tesla never existed? Where would space flight be without Space X. Proof of concept is everything. Yes, I do agree that Elon needs to focus more, lay off the Twitter, and stop smoking weed on Joe Rogan. Elon is basically a mad scientist and may seem nuts; but you have to be a little nuts to push the envelope.
    • MB
      Matthias B.
      15 March 2019 @ 11:45
      I give Mr Musk credit for forcing the issue. But it would be naive to believe that the big car manufacturers in Europe did not have for years plans in their drawer to come up with e-vehicles. The reason - especially the German OEMs - they did not launch yet was that on a relative basis, they made much more money with the combustion engine vehicle in all sort of variations. Yes, Mr Musk has sped up that process but not before long, customers will be able to compare on a relative basis the differences and then support services/distribution network and that is where Tesla will fall behind. On a different note, it is highly questionable and shameful that a regulator and a government blatantly ignores/sponsors appropriate corporate governance and market manipulation for the sake of being a disruptor or simply because Mr. Musk is so well connected on the hill in DC, therefore creating regulatory arbitrage or animal farm behaviour.
  • AK
    Arthur K.
    14 March 2019 @ 21:36
    Very interesting interview.. JP and family have interests in everything from oil leases to esports to blockchain. Great interview but ... I have to agree with DLS (comments below ) about the new politics we are seeing. They are following the same playbook that proved so successful in the presidential election.
  • KC
    Kenneth C.
    14 March 2019 @ 15:10
    Going to watch this over the weekend Brian but wanted to give you a tip of the hat on Michters=decorum. Well played sir.
  • TA
    Truitt A.
    14 March 2019 @ 04:15
    Really enjoyed hearing about Jim's background, upbringing and success - great story! I bet watching a Celtic game or Roma match with Jim is a lot of fun. Keep pieces like this coming - well done!
  • BS
    Bernd S.
    13 March 2019 @ 22:39
    I'd be very curious to see a debate between Jim and Patrick Byrne.
    • TR
      Travis R.
      14 March 2019 @ 22:40
      Citigroup and Nasdaq have both invested in TZero. Pallotta's views are apparently biased.
    • BS
      Bernd S.
      15 March 2019 @ 14:40
      I got the same impression, though Pallotta seems very smart on many things, such a misjudgment or if he's not speaking the full truth would surprise me. A curious thing to watch.
  • lD
    lance D.
    13 March 2019 @ 19:42
    Quality lovely bloke .. i do wonder if he is tuning into the most famous club this evening.. he will get a master class in European Football tonight ..cmon reds
  • AG
    Adam G.
    13 March 2019 @ 17:11
    So.. what’s the takeaway here ? Not sure what lessons to be learned
    • lD
      lance D.
      13 March 2019 @ 19:38
      Hahahaha DO NOT give him a job if he asks or you will get you 'wig split'.... there was so much to be learnt in there imo . chin up chap and re watch you will learn some thing .
  • CM
    C M.
    13 March 2019 @ 14:47
    My biggest takeaway is how luck plays such a big role in our lives. To think of how different his life would have turned out if he had gotten the job at Polaroid. Being smart and working hard is only part of the formula. Picking the correct fork in the road and timing are also big factors in future success.
    • AG
      Adam G.
      14 March 2019 @ 07:07
      Yes ! Thanks. That’s it. Fork in the road selection.
  • PN
    Philip N.
    13 March 2019 @ 12:12
    i have to disagree on taxes. I don't think corporations should pay any taxes. Tax the money when it is paid out.
    • KB
      Karl B.
      15 March 2019 @ 12:28
      This is how the system works in Australia, makes much more sense
  • JB
    Jack B.
    13 March 2019 @ 10:39
    Seemed like a very decent honest street smart bloke! Loved it
  • ly
    lena y.
    13 March 2019 @ 09:56
    How come I hear more swearing in the programs now?
  • CA
    Craig A.
    13 March 2019 @ 03:15
    Truly a great man and excellent interview. Loved the way he evaluates other people character by the way they carry themselves in public and toward ordinary people. Thanks
  • JF
    Joseph F.
    13 March 2019 @ 02:23
    Excellent interview. Thanks.
  • SG
    Steve G.
    13 March 2019 @ 02:01
    truly great. a creative, large brain. rare in the financial world of math and number guys. Great questions getting the scope of what this guy engaged in. brilliant.
  • BW
    Bill W.
    12 March 2019 @ 23:17
    Gotta love Jim Pallotta's candor and brilliance. Great interview!
  • DS
    David S.
    12 March 2019 @ 22:06
    Great interview. Mr. Pallotta is an extraordinary man and led a most interesting life. I certainly would be shaking in my boots to bring a business plan him. The interview covered a lot of ground - all of which I enjoyed. Thanks. DLS
  • TT
    Trenton T.
    12 March 2019 @ 21:46
    Fantastic conversation with lots of wide ranging opinions to weigh.
  • VS
    Victor S. | Contributor
    12 March 2019 @ 21:14
    It is terrific to hear the story of the person. But i believe that should be 10-15% of the interview. The rest should be his view of the future on the markets,the worlds trends ,and some academic thinking about what he believes are the key themes eg. Hyperinflation or depression? I got zero of what to do listening to Brian ?? I believe Real vision is not asking the right questions! A Thumbs down.
    • BP
      Brian P. | Real Vision
      12 March 2019 @ 22:07
      There are all kinds of different interview styles, but picking a snarky fight in the comments section is so low level. I'm always open to suggestions--shoot me a note at Brian@realvision.com--or, I'll buy you a beer next time you're in New York. But, do we really have time for a public spat? Don't let trolls and keyboard tough guys on Twitter influence you, Vic. Let's be better. Or, I can interview you on your turf and you can show me how it's done.
    • MR
      Mathew R.
      13 March 2019 @ 00:08
      Brian...I gotta say, I'm a little surprised by your response. I'm not sure if financial journalism is different, but in my line of work, if I responded to customer criticism by issuing a challenge to the customer, I think it would reflect badly on me. Especially considering that nothing Vic said was particularly disparaging. I'm also confused...because Justine was just touting on Youtube that Real Vision is a community dedicated to creating a dialogue. I'm not sure why constructive criticism should be relegated to private email channels. I for one agree with Vic that the story of the person is interesting, but I'm more interested in their views on current economic events.
    • JL
      J L.
      13 March 2019 @ 01:31
      He wasn't challenged by a customer but a fellow contributor, haven't you noticed the fancy new badges
    • IC
      Ibrahim C.
      13 March 2019 @ 01:51
      I went for Thumbs Up but this is owing to the integrity of Jim's views on all the topics he talked about his investments plus his shrewdness on delivering them. However, I agree on your point of content that at the end there are three themes came out resonating back on me: Boston Celtics, A.S. Roma and some short chat on his views which I think should have been content wise under-delivered.
    • VV
      Vanessa V.
      13 March 2019 @ 06:40
      I respectfully disagree. Who a person is (their history, development, character, values etc) is a huge part of their success as well as being integral to how they view the world. I appreciate the long form interviews that offer guests an opportunity to reflect on their lives as well as the time to give their views on current markets. I also believe that Brian asked some great open-ended questions (E.g. What concerns you the most?) and he is a good listener. I learnt a tremendous amount in this interview: a constant search for knowledge and quality input, the importance of knowing who you are, quality of the people you associate with, culture of an organisation, tax reform ideas, openness to new ideas, ability to understand and adapt to the environment that you are operating in, assessing risks and opportunities etc. RV isn't all about making calls (although we were offered insight into some newer technologies). A thumbs up from me.
    • SM
      Stephane M.
      13 March 2019 @ 10:33
      I love you Vic but since it's Jim first appearance on RV, it's good to know his background. Next time, I hope he will give us more "juice"!! Cheers!!
    • CM
      C M.
      13 March 2019 @ 14:50
      Felt the interview was worthwhile, though agree that little was discussed about markets. Listening to how someone got to where they are is also insightful. But felt Victor's response to a paying subscriber was inappropriate.
    • DW
      Denton W.
      13 March 2019 @ 16:18
      I for one don't really care about a person's market views. I want to hear about their process and learn from them. I don't want to be given a fish. I want to learn to fish for myself.
    • AA
      Aymman A.
      13 March 2019 @ 19:17
      Agree completely. I am interested in thought and analysis. I want ideas. Little bit of personal story is good but RV should not become People Magazine.
    • NI
      Nate I.
      14 March 2019 @ 04:54
      I agree with Victor. This isn't A&E Biography and I wanted to learn something from Jim.
  • MM
    Michael M.
    12 March 2019 @ 19:35
    Been a subscriber since nearly the beginning - this is one of the best. Hugely likeable and insightful guy. Think he may be missing the forest for the trees with regard to AOC - in terms of what she and others signifies more broadly - but otherwise brilliant. Great job Brian.
  • DB
    David B.
    12 March 2019 @ 19:23
    Wow, Jim has so many great characteristics that come across during this interview. He is humble, brilliant, intellectually curious, down-to-earth, and just flat out cool! Thanks for the wonderful interview!!
  • PN
    Pedro N.
    12 March 2019 @ 18:15
    Great interview, although I found the attack on AOC to be self serving as every billionaire would rather not pay wealh tax and higher capital gain taxes. The issue is that the 0.1% have taken advantage of the system so much that AOC is just the consequence of crony capitalism. America became as corrupt as Russia, the only difference is that in one country it is legal, they call it lobbying. The 99% are fed up and AOC became their flag bearer, not only because she has the energy of youth but because unlike the dinosaurs in the senate (and many in the house) she gets new technology and uses it brilliantly. To attack her on the basis that she only got 15 or 20 thousand votes is missing the whole point of what is happening by a wide margin. Change is coming. What do you do when the facts change? The pendulum has swung too much in favour of capital, the next couple of decades will see it shift back towards labour. AI & Automation will speed that up. Better have your portfolios correctly positioned...
    • DS
      David S.
      12 March 2019 @ 21:32
      AOC found a hot button on the left to rally the troops just like Trump found a hot button on the right three years ago. It is important not to dismiss AOC, but to bring reasoned discussion to the table. This is extraordinarily difficult because there is no easy answer to the massive debt crisis. If someone is smart and wise enough to make the problem of debt crisis real to the voters, it will be easy to see that simple solutions from the left or right are not the answer. DLS
    • SG
      Steve G.
      13 March 2019 @ 02:10
      how can it shift back to labor when AOC want virtually an open border...that...hold on......crushes labor through cheap labor of illegals, that burdens the system in welfare and healthcare costs? And who said billionaires do not want to pay that tax? And when you receive your new taxed money, how will this shift to the laborer? An extra 500 per month is going to change his destiny? He is going to use some new great healthcare plan better than he did before? Unfortunately, your generation has bought the lies. Fortunate for me, I can protect from your horrible mind. But in the process when you destroy the middle class through your socialist fervor, I wonder who you will blame then. the billionaire? again........ To which I offer you this. How do you know when you have succeeded? What does wealth equal look like? Will everyone have a job? Will your answers to this be in reality or make believe? In 20 years, you are going to ge those answers. I think when you wake up at the end of it, you will stil be the unhappy socialist. Only in disbelief and wonderment of how it maybe, could have worked out. If only the laborer got what he wanted. see how this never ends? the dreams of dreams.....
    • NI
      Nate I.
      14 March 2019 @ 04:58
      Respectfully Pedro, study the history of the US income tax. It was sold with the same rhetoric as the so called wealth tax. It was only supposed to be a tax on the "rich". The problem isn't the billionaires per se (although many of them misuse the force of government to their advantage), it's too much government. If the government wasn't making regulations as fast as they can get the ink on the paper, the billionaires would face some real competition.
  • PU
    Peter U.
    12 March 2019 @ 12:52
    We are not making them like that anymore!
  • md
    michael d.
    12 March 2019 @ 12:43
    Fantastic interview, thoroughly enjoyable.. thumbs up!
  • MS
    Michiel S.
    12 March 2019 @ 12:22
    Awesome man with a great story. Very impressive! I will consider cheering for AS Roma in the future:-)
  • SN
    Scott N.
    12 March 2019 @ 11:04
    can we make the audio download link available? Thx
    • BB
      Brooks B.
      12 March 2019 @ 12:20
      Looks like its up now
  • gg
    georgy g.
    12 March 2019 @ 09:48
    Brilliant man with great sense in investing!