#094 Rolling Fun #9: Basketball, Asteroid Mining, Child Labor (Not Really Tho)

Smart Friends

Topics:

(00:00:00) - Intro

(00:01:46) - Personal updates and new ventures

(00:04:06) - The youth sports complex project

(00:05:21) - Challenges and strategies in youth sports business

(00:09:09) - Community impact and future vision

(00:19:00) - Reflections on education and parenting

(00:34:05) - The magic of holding a newborn

(00:34:32) - The joys and challenges of parenting

(00:35:07) - Balancing work and family life

(00:37:36) - Exciting company updates

(00:38:03) - Success stories in venture capital

(00:40:55) - Innovations in space and technology

(00:47:19) - The future of asteroid mining

(00:54:34) - Revolutionizing construction and robotics

(00:59:01) - Battery technology breakthroughs

(01:03:59) - Conclusion and next steps

Links:

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We discuss:

• Bo is turning around a Youth Sports Complex that was losing millions/year.

• “Never skip a funeral and always hold a baby”

• Investment updates across nuclear energy, asteroid mining, robotics, and batteries.

• Why enthusiasm, networks, and timing matter so much in early-stage investing.

Quotes from Bo:

1. "This was like 11 businesses stuffed into one building… and none of them were working yet."

2. "My job right now is teaching people who love what they do how it fits into a business."

3. "We get 2 to 3 calls a week from private equity firms, and I tell them all: don’t do it."

4. "It’s a 600-person organization… a real thing with real complexity."

5. "Maybe it’s a $30 million business—manageable, understandable, and ridiculously high impact."

6. "It’s a cartel-organized market. You need to be a trusted actor to even play in it."

7. "Helping it really succeed is time well spent—for Kansas City, for the kids, and for everyone here."

8. "The youth sports market is a $40 to $80 billion space, and it’s on fire."

9. "There’s not a lot of credible business builders in this space—and I haven’t found another one yet."

10. "In 50 years, this will be even more awesome. I love working on stuff like that."

Quotes from Al:

1. "You couldn't just copy-paste this business into another city. You need deep trust and local knowledge."

2. "This is a fun community challenge. If you get it right, you leave a real legacy."

3. "I texted Bo—‘We did it’—because Eric and Jeannine had a baby. That’s how we all felt."

4. "The bond between dad and baby isn’t immediate. But it grows—and it’s worth it."

5. "I fixed the cheeseburger at Home Field before Bo was even involved."

6. "Once you have a baby, every infant photo becomes magic."

7. "The best underappreciated part of being an entrepreneur? You can get your kids working early."

Important Quotes from the podcast on Business and Entrepreneurship

There is no skill called “business.” Avoid business magazines and business classes. - Naval Ravikant

You have to work up to the point where you can own equity in a business. You could own equity as a small shareholder where you bought stock. You could also own it as an owner where you started the company. Ownership is really important.

Everybody who really makes money at some point owns a piece of a product, a business, or some IP. That can be through stock options if you work at a tech company. That’s a fine way to start.