Ryan Smith on buying the Utah Jazz, evolving Qualtrics, AI’s early days, and more | E1782

Added: Jul 25, 2023

Smith shares his excitement and sense of responsibility in owning the Utah Jazz, a team he grew up watching and one that has never won an NBA championship. He discusses the strategic decisions he has made, including trading two All-Stars to acquire draft picks and build for the future. Smith also talks about the hiring of Danny Ainge, former Boston Celtics executive, and the importance of surrounding himself with the best people. He believes in providing room for talented individuals to work and make decisions while also being involved in the process. The conversation delves into the current landscape of the NBA and the increasing player movement in the league. Smith acknowledges that it is difficult to maintain a long-term roster due to the changing dynamics and player mobility. He mentions the new CBA and how it may further increase player movement in the coming years. Smith sees opportunities for teams like the Utah Jazz, Phoenix Suns, and others to rise up and compete for championships in the future. The podcast also touches on the NBA's willingness to disrupt itself and try new initiatives, such as the playing tournament and the upcoming in-season tournament. Smith appreciates the forward-thinking approach of the NBA and believes it is important to be proactive and innovative to stay ahead. He draws parallels between the tech industry and the NBA, emphasizing the need to be willing to disrupt oneself and constantly seek improvement. Smith also discusses the changing landscape of local media and the need for teams to control their own content. He shares his experience with the Utah Jazz and their decision to take control of their rights and distribution. He believes that teams should have a direct relationship with their fans and control their own destiny. By partnering with media companies and producing their own content, teams can provide a better viewing experience and have more control over their revenue streams. Furthermore, Smith highlights the concept of the Utah Jazz as a media company. He believes that teams are not just sports organizations but media companies with content, distribution, and talent. He emphasizes the importance of players as their own brands and the opportunities for teams to help players amplify their stories. Smith mentions the example of Draymond Green and his podcast, emphasizing the power of players as media personalities and the potential for teams to support and promote their players' personal brands. Smith also touches on the importance of direct-to-consumer relationships and the opportunities it presents for teams. He mentions the ability to collect fan data, send targeted marketing messages, and provide personalized experiences. Smith gives the example of Disney and their direct relationship with consumers through Disney+. He believes that teams can learn from this model and use direct-to-consumer relationships to enhance the fan experience and drive revenue. In addition to discussing the NBA and the Utah Jazz, Smith also talks about the evolution of Qualtrics, his experiences as a CEO, and the future of the business world. He highlights the importance of controlling content and creating a seamless experience for viewers. Smith emphasizes the value of data and how it can be used to improve customer and employee experiences. He believes that organizations should focus on gathering and analyzing data to gain insights and make informed decisions. Smith also discusses the role of AI in the business world and how it can enhance productivity and efficiency. He believes that AI technology has the potential to revolutionize various industries and improve the overall customer experience. However, he acknowledges the need for privacy and security measures to protect sensitive data. Smith also addresses the issue of job displacement and emphasizes the importance of adapting to technological advancements to remain competitive in the job market. He believes that organizations should invest in training and development programs to equip employees with the necessary skills to thrive in a changing work environment. Overall, Ryan Smith's main takeaways from the podcast are the importance of strategic thinking, the value of surrounding oneself with talented individuals, the need for continuous innovation, and the challenges and responsibilities of owning an NBA franchise. He expresses his excitement for the future of the Utah Jazz and his commitment to building a winning culture.