Trophies, Twitch and T-Shirts with Scooter Braun and Matthew Haag | Summary and Q&A

TL;DR

The conversation explores the growth and challenges of 100 Thieves, an esports organization, and the gaming industry, highlighting topics such as revenue generation, player contracts, entertainment aspects, diversity, and streaming platforms.

Key Insights

• 💗 The gaming industry is growing rapidly, with esports and streaming becoming significant revenue drivers.
• 🏛️ Building a brand and diversifying revenue sources, such as apparel, partnerships, and entertainment, are crucial for the success of esports organizations like 100 Thieves.
• 🧚 Player contracts should prioritize fair compensation, protection, and opportunities for growth while considering the shifting landscape of esports.
• 🍉 Maintaining brand reputation and promoting positive behavior in the gaming community are vital for long-term success.
• 🟰 The importance of diversity and inclusivity in the gaming industry is recognized, and efforts should be made to provide equal opportunities and representation.
• 🖐️ Streaming platforms play a crucial role in the success of individual streamers and esports organizations, but diversification across multiple platforms is important to avoid dependence on a single platform.
• 💪 Investing in founders with a strong work ethic, passion, and a long-term vision is essential for success in the gaming industry.

Transcript

that's yours good fun little awkward handshake we did great it's awesome so raise your hand if you know what a hundred thieves is anybody familiar in the audience it's probably weird there's a there's a few in there a couple give me a lot more hopefully in a couple years yeah or maybe by the end of the afternoon that makes more so you know you you'... Read More

Questions & Answers

Q: Why did Nate invest in 100 Thieves?

Nate was drawn to 100 Thieves because of its unique approach, focusing on building a brand rather than just professional teams. He bet on founder Matt, who believed in the gaming industry early on and had a strong work ethic and success story.

Q: How are player contracts structured at 100 Thieves?

Player contracts vary depending on the game and their contributions to the organization. Fortnite players, for example, are paid monthly salaries and earn a percentage of prize earnings. Contracts are negotiated carefully, with input from players' parents and agents, and 100 Thieves aims to pay its players well.

Q: How does 100 Thieves prepare its players to be in front of millions of viewers and protect the brand's reputation?

While media training has not been implemented, 100 Thieves is meticulous in recruiting players who align with the organization's values. The emphasis is on finding good role models and ensuring players understand how to represent 100 Thieves. Guidelines are in place regarding language use to maintain a brand-safe image.

Q: How does 100 Thieves promote diversity in the gaming industry?

100 Thieves strives for diversity in its workplace and has the most women among esports organizations. The focus is on talent rather than gender or ethnicity, and the aim is to set a standard for inclusivity and representation. Female streamers like Valkyrie are given prominent platforms to inspire young girls.

Summary

In this video, Nate and Matt from 100 Thieves, a popular gaming organization, discuss various aspects of their business, including their involvement in the gaming industry, their decision-making processes, their approach to contracts with pro players, their focus on entertainment, diversity in the workplace, and more. They also touch on the recent moves by popular streamers like Ninja and Nick Mercs and the importance of founders' mentality in investments. They end the video with a surprise appearance by Maisie Williams, known for her role in Game of Thrones, who talks about her entrepreneurial venture called Daisy.

Questions & Answers

Q: What drew Nate to invest in 100 Thieves?

Nate was drawn to 100 Thieves because he saw the potential in the gaming industry, realizing that it is bigger than the music and film industries combined. He was impressed by Matt's unique approach of building 100 Thieves as a brand rather than just focusing on professional teams. He believed in Matt's vision and his ability to drive the business forward, making it a worthwhile investment.

Q: How does 100 Thieves generate revenue?

Currently, the combination of streamers (entertainment) and eSports teams generate the most revenue for 100 Thieves. They have partnerships with sponsors and their eSports teams, similar to traditional sports, with logo placements on their jerseys. However, they also hope to grow their apparel business to operate at the same level in the future.

Q: Why did 100 Thieves decide not to participate in the Call of Duty World League?

Matt, being a former pro gamer and Call of Duty player himself, found it to be a tough decision not to participate. However, he explained that Call of Duty is in a tougher place compared to League of Legends, as the game has been around for a decade and its viewership is not growing as rapidly. They also had to consider the long-term potential and profitability of their investments, so they made the decision to focus on other aspects of their business.

Q: What is 100 Thieves' approach to contracts with pro players?

The contracts with pro players differ depending on the game and their contributions to the organization. For example, Fortnite players are paid tens of thousands of dollars per month, with a percentage of their prize earnings going to the organization. 100 Thieves also advises their young players, often under the age of 18, on decision-making and navigates contract negotiations with their agents. They prioritize paying their players well and are open to renegotiating contracts as the players grow and perform.

Q: What is 100 Thieves' strategy for protecting their business in a rapidly changing eSports landscape?

Matt explained that they focus on being disciplined with their spending and making smart investments. Rather than blindly following trends or spending recklessly, they remain committed to building a strong brand, growing their entertainment offerings, and selecting the right eSports opportunities for future returns. They prioritize profitability and resilience, ensuring they don't get caught up in short-term changes that could jeopardize their long-term success.

Q: How does 100 Thieves handle the entertainment aspect of their business?

Matt highlighted that they haven't done media training for their players thus far, but they are meticulous in their recruitment process, selecting players who fit the culture and represent 100 Thieves well. While media training might be necessary in the future, they rely on strong recruitment and proper communication to ensure players understand how to represent the organization. They also have guidelines in place, such as a ban list of phrases, to maintain a brand-safe image.

Q: How does 100 Thieves prioritize diversity and inclusion?

Matt explained that diversity is a top priority for 100 Thieves, and they strive to have a diverse workplace. They have actively recruited talent from various backgrounds, including a higher number of women compared to other eSports organizations. They prioritize talent and skill above all else and aim to set an example for the industry, ensuring that everyone has equal opportunities regardless of gender or ethnicity.

Q: Are there guidelines in place for pro players regarding their behavior and treatment of others?

100 Thieves has guidelines for their players, including a ban list of phrases and expectations of how they should represent the organization. Matt emphasized that they aim to teach the gaming audience how to behave in a normal and respectful manner, shifting away from the stereotype of gamers being socially inept or rude. They work with players to ensure they understand their role as role models and represent 100 Thieves in a positive light.

Q: How does 100 Thieves approach investments and what are they looking for?

Nate mentioned that they are looking for great founders in addition to great ideas. They prioritize profitability and building a real business, so founders who have a "burn the ships" mentality and the ability to pivot when necessary are ideal. While they have made investments in the gaming and eSports space, they are focused on their own business and have to be careful with their investments.

Q: What is Maisie Williams' company Daisy about?

Daisy is an entrepreneurial venture started by Maisie Williams and her co-founder Dom. The company aims to address the problem of breaking into creative industries by improving connectivity and facilitating networking opportunities. Daisy provides a platform for individuals in creative industries to find and collaborate with others, aiming to make the process more accessible and less reliant on luck and timing.

Takeaways

The video provided insights into the operations and values of 100 Thieves, a prominent gaming organization. They prioritize profitability and discipline in their decision-making, focus on building a strong brand, and emphasize diversity and inclusion in their workplace. They value strong founders and aim to support their pro players in building long-term careers, while also ensuring they represent the organization well. They discussed the challenges of the rapidly changing eSports industry and the importance of adaptability and responsible investing. Additionally, Maisie Williams shared her entrepreneurial venture, Daisy, which aims to connect individuals in creative industries and address the barriers to entry. Overall, the discussion reflected the dedication and passion of the 100 Thieves team in growing and shaping the gaming industry.

Summary & Key Takeaways

• The conversation discusses the emergence of the gaming industry as a lucrative business and the unique approach of 100 Thieves, which started as an apparel brand before expanding into esports and entertainment.

• The revenue sources for 100 Thieves are highlighted, with both streamers and esports teams being significant contributors through entertainment and partnerships.

• The decision not to participate in the Call of Duty franchise league is explained as a strategic move to focus on building the brand and growing revenue sources such as apparel.