Formula One, every mention
146 scenes · ← back to Formula One
tap a year for its mentions
every year anyone David Rosenthal 83Ben Gilbert 59Doug DeMuro 3Mark Canlis 1
Verbatim, from the transcripts: the passages where Formula One comes up
Ferrari: What happens when you staple a luxury brand to a sports team? (Audio) · Acquired
- ▶ 17:59 David Rosenthal I mean, on our Formula One episode, we talked about through the seventies, right?
- ▶ 18:03 David Rosenthal There was an average of more than one death a year in Formula One out of a field of only like 20 drivers.
- ▶ 20:42 David Rosenthal And the Ferrari racing team to this very day in Formula One and elsewhere is
- ▶ 46:27 Ben Gilbert This is very, very different today, but in the early days, I mean, we're gonna talk about Formula One here shortly, but in those early days of F-One, other teams figured out, hey, you should probably move the engine to be a mid-engine,…
- ▶ 48:58 Ben Gilbert Yes, or most of the F-One operations today that carry the name of a constructor of a, a car brand.
- ▶ 51:11 David Rosenthal The new Formula One World Championship Series, as we talked about at great length on our Formula One episode.
- ▶ 51:24 David Rosenthal F-One team continuously operating from the beginning of the sport all the way through to today.
- ▶ 52:11 David Rosenthal As we continue the operatic life of Enzo Ferrari here, the re-entry into the racing business and the new pinnacle of motorsport in Formula One, unfortunately, comes with renewed tragedy.
- ▶ 54:51 David Rosenthal The AI SDK alone gets downloaded ten million times a week, which is up from seven million times a week when we recorded our last episode on F-One last month.
- ▶ 1:08:29 David Rosenthal So at this race in 1957, again, two years after the F-one crash that killed his driver protege, one year after the death of Dino, a Ferrari flies off the road and into the crowd, killing the driver and nine spectators, including five…
- ▶ 1:34:59 David Rosenthal I want you to go to the next Formula One race.
- ▶ 1:41:22 Ben Gilbert Much later, and there's this glorious, amazing return of Luca, and there's this unbelievable run in Formula One, and the Ferrari road car business becomes stronger than ever, but basically none of it in...
- ▶ 1:45:07 David Rosenthal Ferrari, in the next Formula One Grand Prix that is run after Enzo's death, finishes one-two, wins at Monza.
- ▶ 1:52:50 David Rosenthal You know, Ferrari road cars went from being the same thing, built by the same people as the racing cars, as the F-One cars and the Le Mans cars in the same factory, to in this period with Fiat control, they're really not the same thing.
- ▶ 1:54:40 David Rosenthal The Formula One team.
- ▶ 1:54:41 David Rosenthal We have to fix the Formula One team.
- ▶ 1:55:11 David Rosenthal I think the greatest set of F-One team members that had ever existed in history.
- ▶ 1:55:54 David Rosenthal As we talked about on the F-One episode, it was a problem for Formula One.
- ▶ 2:10:07 Ben Gilbert And they can also get learnings from their F one team quickly into cars since it's right across the street.
- ▶ 2:41:42 Ben Gilbert They've opened two very different style theme parks, one in Spain and one in Abu Dhabi, right next to the F-One racetrack there.
- ▶ 3:05:09 Ben Gilbert The most extreme clients can buy a former F-one car.
- ▶ 3:05:15 Ben Gilbert Like an actual F-one car that was raced in prior seasons.
- ▶ 3:05:20 Ben Gilbert But of course, you can't just go drive an F-one car.
- ▶ 3:05:52 Ben Gilbert We'll fly the whole team in the car there, so you just roll up, and then you can drive your F-I car around that special track.
- ▶ 3:22:14 Ben Gilbert Formula One for them is a profit-generating center that is also the single best marketing dollars they could ever spend.
- ▶ 3:22:23 David Rosenthal Thank you, Liberty Media and their stewardship of Formula One.
- ▶ 3:22:27 David Rosenthal Like, overnight in the last 10 years, Formula One went from just a marketing spend for Ferrari to the best marketing activity they do and a real meaningful profit center.
- ▶ 3:22:46 David Rosenthal And the latest Forbes valuations of F-One teams, I think Ferrari, they have the value of the team at
- ▶ 3:23:15 David Rosenthal Ferrari is Formula One.
- ▶ 3:23:16 David Rosenthal Formula One is Ferrari.
- ▶ 3:23:22 Ben Gilbert Then lastly, four and a half percent of their revenue is financial services and some other random stuff, including selling engines to other Formula One teams.
- ▶ 3:37:10 David Rosenthal I mean, it's astonishing, calling back to our F-One episode, Ferrari is the most popular F-One team in the world, by a large margin.
- ▶ 3:39:35 Ben Gilbert And actually, for a while, their F-One team had an advantage because they have their own racetrack that no one else has.
- ▶ 3:41:12 David Rosenthal I mean, for God's sakes, they're the only F-one team that has been continuously operating for all of F-one.
- ▶ 3:57:25 Ben Gilbert Moving to Marinello, experiencing it from the inside, working on the F-one side of the house.
Formula 1: Fast cars, celebrities, and B2B software (Audio) · Acquired
- ▶ 1:45 Ben Gilbert Today's episode, listeners, is on Formula One, the world's premier motorsport series.
- ▶ 2:09 Ben Gilbert Well, listeners, really what we're doing here today with Formula One, it's three sports in one.
- ▶ 2:32 Ben Gilbert And Formula One is the only motorsport in the world that requires a team to design and build their own car from scratch, which is an insane engineering feat to enter the competition.
- ▶ 4:23 Ben Gilbert So listeners, just like our NFL, NBA, and IPL cricket episodes, this show is about the business of F one.
- ▶ 5:30 David Rosenthal Well, first off, we owe a huge thank you to Joshua Robinson and Jonathan Clegg, who are the sports editors over at the Wall Street Journal, and just recently published, I think the best business history book of Formula One called The…
- ▶ 5:53 David Rosenthal So Ben, Formula One as we know it really started after World War II in 1950, but unlike a traditional company or even many of the sports leagues that we've studied over the years, it doesn't have a exact sort of founding moment.
- ▶ 8:05 David Rosenthal The Fédération Internationale de l'Automobile, or the FIA, which still exists today and still administers the rules of Formula One.
- ▶ 9:42 David Rosenthal And that becomes the first race of the first season officially of F one.
- ▶ 38:40 Ben Gilbert I think the average tenure over the entire existence of Formula One is about six years for a given team.
- ▶ 38:46 David Rosenthal Just to make this exact point, here is the list of F-one teams in 1972, the year that Bernie buys into the league.
- ▶ 39:28 David Rosenthal So just to paint the picture of the business state of F one, when Bernie came into the league, each individual team negotiated their appearance fees with each individual
- ▶ 41:15 David Rosenthal It was already criminally too late that F-One and the
- ▶ 41:42 David Rosenthal F one, meanwhile, is just as if not more popular.
- ▶ 42:27 David Rosenthal I think it's actually worth one more quick pause here to compare, contrast formula one in the NFL and Bernie and Pete Rizal.
- ▶ 43:27 Ben Gilbert He does centralize things, but it's not like formula one becomes owned by all the teams equally.
- ▶ 45:46 David Rosenthal Bernie is doing a great service for all the F-One teams and owners.
- ▶ 47:17 David Rosenthal Bernie's sort of first act in F-One reminds me of one of my favorite sayings that I heard earlier in my career from a mentor.
- ▶ 47:54 David Rosenthal Yes, and importantly, the FIA is the one who blesses each of the racetracks with being a Grand Prix part of Formula One.
- ▶ 48:30 David Rosenthal He thinks he's running F one.
- ▶ 1:01:12 David Rosenthal All of a sudden TV rights go from small single digit millions in aggregate to F one to over twenty five million a year, just flowing into FOPA and Bernie from the TV rights.
- ▶ 1:01:49 David Rosenthal One of the other owners, Ken Tyrell of Tyrell, which, fun fact, is actually the forerunner of the Mercedes team today, publicly accuses Bernie of, quote, stealing F-One from the teams, but that's kind of a minority opinion.
- ▶ 1:02:06 David Rosenthal By and large, they're all still pretty grateful to Bernie at this point, because turning F-One into this major TV sport meant that all of a sudden, all of their individual team sponsorship deals just got way, way, way more valuable.
- ▶ 1:02:27 David Rosenthal Before F-One was televised, all that sponsors were getting when they got their logos on the cars,
- ▶ 1:03:21 David Rosenthal Yeah, there's no way you're gonna be able to read what's on an F-One car when it's whizzing by live.
- ▶ 1:03:43 David Rosenthal Tobacco company advertising poured 4.5 billion dollars into team sponsorships in F one over the years.
- ▶ 1:04:36 Ben Gilbert So finally, thanks to tobacco companies and TV meteorites and Bernie, there's all this money flowing into formula one to fund these ever increasingly expensive operations.
- ▶ 1:21:24 David Rosenthal A long period of time, F-One drivers actually refused to wear their seatbelts because they wanted to get thrown out of the car so they didn't catch fire after it crashed.
- ▶ 1:22:22 Ben Gilbert And so, interestingly, F-one racing today is not that much faster than it was in 1950.
- ▶ 1:24:08 Ben Gilbert It's, I think, the longest stretch in F-One history without a fatal accident.
- ▶ 1:25:15 Ben Gilbert And over time, as they start adding more and more guidelines for safety and for all these other reasons, the way to succeed in Formula One shifted from making a more powerful engine or figuring out the very best aero to figuring out how to…
- ▶ 1:27:11 David Rosenthal Because even though he was the highest paid corporate executive in Britain, that didn't necessarily mean that he was running FOPA and F-one like any kind of
- ▶ 1:27:32 David Rosenthal He kind of operated F-one like a sole proprietorship, shall we say?
- ▶ 1:27:44 David Rosenthal Seriously, like the bottom floor floors of the building were F-one offices, and then he had the floors above.
- ▶ 1:28:11 David Rosenthal He had a few lawyers and finance people to make it all function, but there was no marketing department for F-one.
- ▶ 1:30:09 David Rosenthal All of the major F-one stakeholder categories.
- ▶ 1:30:42 Ben Gilbert There's a great quote from Eddie Jordan, who is a Formula One legend.
- ▶ 1:30:48 Ben Gilbert He said that Bernie Ecclestone was someone who sold Formula One four times, has never bought it back, has never lost its control, and still owns it.
- ▶ 1:33:56 David Rosenthal Now, also to be somewhat fair here, protecting his estate from the heavy British inheritance taxes is a legitimate concern because otherwise there would be no way that his family could keep control of F-One after his death.
- ▶ 1:34:25 Ben Gilbert F one off into different parts with different owners.
- ▶ 1:34:48 David Rosenthal Bernie's gonna IPO F one.
- ▶ 1:38:03 Ben Gilbert I mean, so of course we've talked about the media rights, but what a race promoter does is if F one is thinking about going to a racetrack, the person who owns the racetrack or a company affiliated with the racetrack or a government…
- ▶ 1:40:01 David Rosenthal So he switches banks to Morgan Stanley and convinces them that instead of IPO-ing, they should issue debt on F-one and use the proceeds from the debt to pay himself and his new offshore entities a special 1.4 billion dollar dividend…
- ▶ 1:42:24 David Rosenthal Including, cannot make this up, in February of 2000, they sell a 37% stake in F-one,
- ▶ 1:42:40 David Rosenthal H and F then goes and buys out some of the other minority owners that Slavica slash Bernie had been selling stakes to, and Hellman and Friedman collectively gets a 50% ownership stake in F one.
- ▶ 1:43:00 David Rosenthal An option to buy another 25% from them for six hundred million pounds and gain 75% majority ownership of F-One.
- ▶ 1:43:42 David Rosenthal To buy their entire stake in select slash F one immediately right away.
- ▶ 1:44:20 Ben Gilbert So how long did H&F own formula one?
- ▶ 1:44:25 David Rosenthal H&F owns formula one for one month.
- ▶ 1:44:44 David Rosenthal So, 50% of F-One is now in the hands of em.tv.
- ▶ 1:45:29 David Rosenthal They now own 75% of F one.
- ▶ 1:46:08 David Rosenthal They now assume F-one ownership.
- ▶ 1:46:14 David Rosenthal So, 2002, the net result of which is that ownership of the 75% stake in F-one transfers to the debt holders.
- ▶ 1:56:04 David Rosenthal Money sinkhole F-one teams.
- ▶ 1:56:27 David Rosenthal Basically what they're proposing is the F-one equivalent of a salary cap.
- ▶ 1:56:53 Ben Gilbert Ferrari would like nothing more than to lose half a billion dollars a year making their F one cars as long as they get to win.
- ▶ 1:57:01 Ben Gilbert It pays back infinitely in brand marketing if they are just a winning F-one team for their particular line of business.
- ▶ 2:00:29 Ben Gilbert So he said, prior to Liberty's acquisition of F-One, there had been many discussions and even attempts at a breakaway series.
- ▶ 2:00:56 David Rosenthal The net of this is that team and league relations in F-one are at a all time low.
- ▶ 2:01:06 Ben Gilbert If you're a fan of F one during this time period, you know about, uh, spy gate and crash gate, uh, both of these, uh, McLaren magically wound up with a giant binder full of the complete specification of Ferrari's car for that year.
- ▶ 2:02:09 David Rosenthal So ironically, miraculously, and certainly despite all of Bernie's best efforts to the contrary, pretty much this whole situation gets fixed by two new teams that enter formula one who nobody saw coming.
- ▶ 2:19:55 Ben Gilbert Like, they, they will generate an infinite amount of losses in order to win in Formula One.
- ▶ 2:35:49 Ben Gilbert And instead, they built arguably the best Formula One team to ever exist across multiple decades.
- ▶ 3:05:04 Ben Gilbert So they go to Netflix, these clever F one guys, and they say, Hey, I think you should do a series.
- ▶ 3:06:48 David Rosenthal The thing about F one at this moment is everybody was so starved for access.
- ▶ 3:07:02 David Rosenthal This isn't F one.
page 1 of 2 · 100 scenes per page · newest episode first next →