Rapid Response: Operating in a fishbowl w/Philly 76ers & NJ Devils CEO Scott O’Neil

Masters of Scale

WaitWhat

Entrepreneurship, Business, Management, Reid Hoffman, Mindset, Diversity & Inclusion, Jeff Berman, Bob Safian, Startups

4.6 • 4.4K Ratings

🗓️ 9 May 2020

⏱️ 34 minutes

🔗️ Recording | iTunes | RSS

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Summary

In sports, everyone has an opinion on every hire, every trade, every price change. That’s the reality – and also the privilege, says Scott O'Neil, CEO of the Philadelphia 76ers and New Jersey Devils. When the NBA dramatically shut down its season, O'Neil's life changed in a very public way. He faced leadership challenges that include missteps, like the decision (and sudden reversal) of cutting employee salaries, and discoveries, like knowing it’s okay to tap out when you need to recharge. With no players on the court or fans in the arena, O'Neil is shifting his focus on what the new era of sports and entertainment can look like. Interviewed by editor Bob Safian.

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Transcript

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0:00.0	I don't think there's a moment in history where sports has been more important.
0:05.7	The biggest difference between this and any other business you'll ever run or own
0:10.7	is that we operate in a fish bowl. And when you lose sight of that,
0:15.0	it causes pain. Here, when you raise prices or trade a player or sign a coach,
0:21.7	it is global news around the world. And while that sometimes is really difficult,
0:26.9	it's also an incredible asset. We are doing everything we can to make sure that our arenas and
0:33.9	stadiums are safe and that there's purell at every corner and we'll have new ways to get you
0:39.4	concessions and new ways to enter so you're not waiting online and you might go through a
0:43.8	heat scanner, all this stuff. Why are you jumping through these hoops? It's just a game. It's not
0:48.7	because this is the new town square. That's what sports represents. I happen to be a real glass
0:53.9	half full guy and there's no way you let a crisis like this slip by without getting stronger
1:00.0	and coming out having learned a few things. Trust the process.
1:08.2	That's Scott O'Neill, CEO of the Philadelphia 76ers and the New Jersey Devils.
1:13.9	The 76ers franchise has become famous for an adage. Trust the process. Many things about the
1:20.5	processor now up in the air thanks to COVID-19, but others Scott argues are clearer than ever.
1:27.2	This is Bob Safian, host of Master's of Scale, Rapid Response. With sports leagues shut down during
1:33.7	the Great Lockdown, Scott's been forced to rethink his business models while also taking into
1:38.9	account the needs of his players and employees and the community role that his teams play.
1:44.5	It's a delicate balancing act and he admits he hasn't always gotten it right,
1:49.2	but he's far from deterred. From lobbying administration officials to collaborating with other
1:54.3	teams, Scott continues to be optimistic about the future, even as he faces new strains and uncertainties.
2:13.2	Hey listeners, it's Tucker LaGurzki, a staff writer on Master's of Scale.
	...

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