Everything Thomas Tull said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Tullco guarantees full follow-on capital for portfolio companies until IPO or exit
“We tell the companies that, you know, you really don't have to raise capital again. We'll provide the capital that you need until we get to a place where you're going to go public or You know, something's going to happen”
Thomas Tull calls Legendary's early Batman partnership with Christopher Nolan pure luck
“So in terms of pure luck, meeting a young director named Chris Nolan, and being able to, you know, to start off legendary with doing Batman Begins and The Dark Knight, and some other movies with Chris Nolan, that's pure luck.”
Thomas Tull argues public markets are completely disconnected from actual company value
“The public markets to me are completely disconnected from reality, good and bad.”
Thomas Tull says success shifts founders from grinding to pattern recognition
“The older that you get and the more success that you get under your belt, like anything else, you can go from just grinding all the time to pattern recognition.”
Thomas Tull warns founders against maintaining failing theses just to show grit
“You can't just keep banging your head against the wall just to say, I'm showing grit. I'm being persistent.”
Thomas Tull passed on early Uber and Airbnb investments
“I had an opportunity to invest in Uber and Airbnb early. And to be honest, I completely missed the shared economy. I just thought, that's strange. You know, you would go and rent someone's room or you would, and obviously completely blew that and didn't have a…”
Thomas Tull invested heavily in Genies while avoiding direct cryptocurrency exposure
“With the crypto stuff, I don't own a lot of it. I'm a big investor in Genies, which is, you know, a company here in the States that everything from intelligent emojis to NFT and sort of web three O stuff. But I haven't gone deeply into the crypto stuff just be…”
Tull: Core business edge is improving existing models rather than inventing categories
“I'm not good at coming up with a new thing. Like, there was no such thing as social media, and I invented social media, and now that's a thing. I'm not, that's not my skill set. What I've done ok at is looking at an industry or a business model and saying, ok,…”
Tull: The $30B film industry lacked institutional private capital around 2003
“And in the movie industry, certainly if you had, if you own Disney stock or News Corp stock, that's available. But for an industry that size, there was no adjacent capital system.”
Tull: Disney cornered the theatrical market with Pixar, Marvel, and Lucasfilm
“I mean, they, I think under Bob Iger's leadership, and then Alan Horn, who was my partner at Warner Brothers before he went over to Disney, I mean, they went out and cornered the market between Pixar, Marvel, and Star Wars with Lucasfilms, and have now, you kn…”
Tull: NFL teams must exploit league-shared data pools
“Now that the NFL has a massive pool of data that it's sharing with all the teams, I think if you're not prepared to take advantage of that, you're, you know.”
Thomas Tull says growing up poor leaves lasting fear of losing wealth
“If you grow up poor, at least for me, there's always this odd thing where you're afraid that it's going to be taken away.”
Thomas Tull launched Legendary Entertainment with zero prior media experience
“I started Legendary Entertainment with zero experience in media. Zero.”
Tull blames sunk momentum for his biggest movie production failures
“I look back at some of my biggest mistakes were movies that you put together, for example, that you got the director you wanted, you got a release date, you got the cast, but the script isn't coming together. For whatever reason, you just kind of feel it, that…”
Tull: Every movie production operates like an individual startup company
“Each film is like a startup company. And has its own fingerprints and so forth.”
Legendary received a $7M newspaper advertising bill for one Hangover movie
“And I think we got a, Seven million dollar bill on one of the hangover movies for newspaper display ads.”
Tull rejects the 2-and-20 VC model to build an AI holding company
“So the thesis is basically, it's a holding company. It's not a fund or a, you know, a two and 20 model. It's an operating company. And in the middle of it is Tolco Labs, in which we have a bunch of incredibly talented folks in machine learning and AI and data …”
Thomas Tull applied dynamic pricing to laundromats early in his career
“And, you know, so the area I grew up in was economically challenged and needed laundromats. Tried to apply some innovation to laundromats with dynamic Pricing and some other things.”
Tull: Tulco will not expand to 40 portfolio companies
“So that's why, you know, I don't think we're going to end up with 40 companies because it's, each case is pretty unique, and you want to make sure that you can check those boxes.”