00:00Expansion fees going up 150x in four or five years, that sounds like a tech story.
00:05It's a women's sports story.
00:07And this is, again, I tweeted it out.
00:09I got savagely trolled in 2020 when I said this was the case.
00:13You did, which is why I had to bring it up.
00:15It went viral.
00:15I saved all those tweets from all the haters who said I was an idiot.
00:19No one watches women's sports.
00:20You're going to lose all your money.
00:21And every time we hit another revenue milestone, I tagged them and thanked them for the motivation.
00:25But, you know, we're seeing valuations now in the hundreds of millions of dollars.
00:29We will see billion-dollar women's teams probably in the next five years.
00:34My hope, obviously, as now a minority owner in the Chelsea women, is that we're one of those first teams.
00:39I think the WNBA, you know, the Liberty, others, will have a good shot at claiming that title being first.
00:46But at the end of the day, that's going to be an example of what a lot of us were, well,
00:52some of us were seeing and talking about and investing in five years ago,
00:55which was by virtue of the WTA existing and your point, and it helps to be married to Serena Williams to see this firsthand,
01:02tennis was the one sport where if you said something like no one cares about women's tennis, you'd be laughed out of a room.
01:09Like people would think you were mentally deficient because it's so obvious.
01:12Why?
01:13Because at the end of the day, in capitalist society, ball don't lie.
01:17And in this case, it's money.
01:18It's revenue.
01:19If you look at the television revenue, and probably my favorite stat is that more Americans to this day watch a U.S. Open final for the women
01:26than a U.S. Open final for the men.
01:28And again, they don't do that because of feminism.
01:30They don't do that because it feels good.
01:31They do that because it is great entertainment.
01:33It's great content.
01:35And so I think there's a lot more room to grow.
01:37And obviously, I'm proud the United States is at the forefront of it.
01:40I think Europe is catching up quick.
01:43And for the rest of the world, I think it's an amazing opportunity laying in plain sight.
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