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tv   The David Rubenstein Show Peer to Peer Conversations  Bloomberg  December 1, 2024 7:30am-8:01am EST

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>> this is my kitchen table and also my filing system. over much of the past three decades i've been an investor. the highest calling of mankind i've often thought was either equity. and then i started interviewing. i've learned in doing my interviews how leaders make it to the top.
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i asked him how much he wanted, i said fine, i didn't negotiate, i didn't know do diligence. you don't feel inadequate now being only the second wealthiest man alive, is that right? one of the greatest baseball players ever is cal ripken. he set a record for playing in 2600 32 consecutive games of 17 years. he was an all-star 19 times, a member of the hall of fame, to m.v.p. in the american league and also won the world series champion. i had a chance to sit down with him recently to talk about his current life working for and with the baltimore orioles, a team that he made very famous. so it was said in baseball that the unbreakable record was lou gehrig's record of playing in 2001 hundred 30 games consecutively, nobody thought they could ever be broken. you broke it playing in 2632 games consecutively over 17
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years. why did you do that? [applause] did you ever think of maybe taking a day off of the good things? >> were not going to last me what my secret was, right? i don't know if i have one. i mean i love the game a lot. the everyday player in those years was playing every game and it was an honor to be thought of and counted on each and every day by your teammates. so i had my dad was also a coach when i first came in probably for the first 11 or 12 years of my career, and i think the real reason that i played is i couldn't, do a ballpark and said you have turf toe, you stub your toe and say i might need to miss a game or two. i couldn't face my dad, let alone the manager of the team. >>-working for many years and i have not done 17 years consecutively going in every day. you have a headache some days,
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you don't feel good. you never had a headache, cold, nothing happened? >> yes, all of those things. you learn to play through different things and you find out really quickly that i can still compete, i still can play even though i might be less than 100%. >> baseball is called the national pastime for a long time but obviously other sorts of taken a lot of attention away from baseball, basketball and football for example. do you still feel that americans have a certain passion for baseball that is similar to what they have 20, 30, 40 years ago, where do you think that has changed a lot? dark out i think there is a deep love for baseball still in the country. rifkin baseball was a kids business that we developed. and you can witness it right in front of you. they feel the same way about baseball that we did. i think what has happened in sports overall is that there's specialization that happens earlier in the sport. so you are not playing baseball,
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basketball and football all that time, you are specializing gleefully on. there's a lot fewer kids playing baseball. but the ones that are playing are actually playing more of it because they place ring, summer and fall. >> lots of pictures these days have elbow problems, they now get surgery called tommy john surgery and players have to take a year-and-a-half before they are able to play again. why there -- why are there so many who have this problem now they didn't have as many when you were playing? is it because they are playing so young, they rcep -- throwing so many different kinds of pitches? >> some of that is true because tommy john surgery has come down even dies: times kids younger than that some parents feel like just keep throwing and if it breaks, we can always fix it, you'll come back throwing harder than you did before. i think that is the wrong way to look at it. in the big lease with all the analytics that go around, they are chasing velocity more, so
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there is more training to your arm stronger to get the ball harder. you throw a fastball, you get behind the baseball, when you try to make a move with the same power, you are torquing your elbow or your wrist right at the end to try to make a move and then all this pressure goes right here. a lot of chasing speed and chasing movement, the combination of those two is causing it. >> when a golfer is lining up his pot on a tournament everybody has to be quiet. nobody is throwing anything at his head. why does he need so much quiet but you are not allowed to say anything, but when somebody is throwing a ball at your head at 100 miles an hour, everybody can scream and yell. doesn't that seem backwards? >> yes. when you play in front of a packed house, that is just
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noise, you don't hear the individual things. here in new york i think the fans felt that they were part of the game so they were trying to get inside your head, they were screaming things that you, trying to play mind games. and if you beat them and you did really well, they would almost go, see you tomorrow. that was part of it. the boston fans were more personal. if you beat them they would hold it against you for your whole life. >> you can challenge a call now and they go up to new york and they watch a video and make a decision. is that good or bad? >> i like it. one play can turn the whole outcome of the game and they have the technology to do it now. i think what you're going to see in the next couple of years is some form of the robotic strikes him. they are testing it in the minor leagues on a challenge system or every third game, they have something in the ear of the umpire. he just tells the guy what to do.
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so they are testing those things out. the challenge system might be good because a key pitch in the eighth inning with the bases loaded called a ball or a strike, the ball turns it in favor of the team that had the bases loaded, the strike gets them out. >> they are liked more than politicians. athletes are really well liked and admired. but then when you finish your career you have a whole different life. you retired tired at what age, 41? >> 41. >> two plate 21 years in the major leagues and retired at an age that is old for a professional athlete but young for somebody in private equity or something like that when he retired at that age did you say what am i going to do with the rest of my life, and what did you decide to do for the next 10, 20 years of your life? >> if you save your money pretty well, you have choices and you can decide to move to florida and play golf like a lot of
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people do and kind of retire early. >> are you a golfer? >> i play a bit, but no. i could be pretty good. >> t.r.y. miniature golf, that is what i do. >> you kind of get bored. i look at it as a second chance for a career opportunity. so we bought minor league teams. there was a comfortable business model that you be kind of learn business that way. and that was kind of fun. at first it felt like i spotted everybody else 20 years. i'm 41, but i seem like i'm 21 in the business world. and then you learn that a lot of the things you learned along the way in baseball can apply to your work ethic, all that kind of stuff. that all applies to what you are doing now. >> now that you are an owner of the baltimore orioles, how do you feel about these high-priced
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contract the players are getting? you used to be one of the higher contracts, now you are in order. do you look at that differently? >> slightly. i tried to think what are the other intangible values that you can offer a player decides the bottom line? the bottom line dollars are so big now that you can make a case saying how much? but is it that ego ended up breaking the bank, agents wanting to continue to make it go up for other people who come through. but my situation was i wanted to play in one place, i wanted to have control over pain -- playing in one place. if we get to the point where we are trying to convince one of the players to stay, you want to tell him all the values associated with derek jeter plan his whole career in the pinstripe uniform, p play my whole career with the orioles, what does that mean for you and the bigger picture? hopefully they will value some of that but it is going to be a competitive landscape where we are going to have to basically
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compete. >> baltimore is smaller compared to some of the new york teams, los angeles. is that a big problem and a smaller city in major league baseball? >> i think overall, i never liked the idea that because you were a small market team, you couldn't compete. i think competition is in your knowledge. you get the draft, you get to sign players, you get to develop players. that is not all free agency that is happening. if you're a big market team, you make a mistake and you can from more money at your mistakes. a smaller market team, you have to be better at your baseball decisions. i looked at myself as a sportsman. negative value of the entertainment was in the collective where your ring well as a team, and you win and that is cool. then all of a sudden to step over to i think a lot of players might think they are entertainers now.
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>> during this 21 your career spent entirely by the orioles, cal ripken jr broke nearly every team record. he is the orioles franchise leader and hits, runs, rbis, and
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games later. however the record that earned him the name iron man isn't just the orioles record, but the all-time consecutive games record emily history. but just how unbreakable is this record? the record was unbroken for over 40 years before ricky even joined the major leagues in 1981. the man who held it, new yor yankees legend lou gehrig. lou gehrig joined at age 19 but then began a permanent foothold until 1925. over the next 14 seasons, he would help the yankees win six world series titles alongside other yankee legend putting babe ruth and later joe dimaggio. in august 1933 during the course of this historic yankees run, he broke the previous consecutive games record of 1307 held by former yankees teammate everett scott.
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he would go want to shatter this record plank every game until he was forced to end his street due to health concerns on may 2, 19 39 at a staggering 2130 games. a few weeks later he was diagnosed with als and was honored at yankee stadium on july 4, 1939, when he officially retired from baseball. >> today i consider myself the luckiest man on the face of the earth. >> for the next 42 years, no player came close to challenging his record. but then in 1981, cal ripken jr. joined the baltimore orioles. he began his campaign to break the unbreakable record. he took the mlb by storm winning rookie of the year in 1982 when his iron man street began and following that up the next season by winning american league m.v.p. in the 1983 world series. over the course of his career,
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he would wrack out 19 all-star appearances, two golden gloves a second american league and the in 1991. he'd already established himself as one of the greatest baseball players in major league history as he continued to extend the street. then the world watched as his record that had stood for 56 years was broken by cal ripken jr.. rifkin would go want to extend history for another three years, finally breaking the all-time record at 2632 games in a row. over 500 games more than the previous mark. rick and retired after the 2001 season and was elected into the baseball hall of fame in 2007. it has been 26 years since the end the street and no player has come close to challenging it. >> so i played the little league all-star shortstop when i was eight and nine and i didn't know
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whether i was going to get the major leagues or not. when did you realize you're going to be better than someone like me? i in little league, did you realize you were going to be good enough to play in the major leagues? >> i knew pretty quickly. i grew up in and around baseball. that was a manager of the minor leagues for the orioles the first 14 years of my life, so i went to work with my dad as early as eight or nine. he put me in a uniform, i was the batboy in the outfield. i had a chance to ask all the players how they caught the flyball, how they swing the bat. so i had all these teachers in front of me but i had a skill that was pretty obvious early on. >> he played in high school, i assume you did very well in high school. so you get drafted by the orioles and at what point when you were in the minor leagues, all players play in the minor league for a while, did you realize you were going to be a super player or did you not realize that in the beginning? >> i was 17, a second round
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draft pick by the orioles. turned 18 at the end of the summer. my birthday is august 24, so i was playing a couple of months before my 18th birthday. when they first went away to play pro ball, i was a pretty big fish in a small pond and highs go. but thengo inside and you are part of the team. you are not the fish anymore. it was one shortstop who came out of texas a&m, he was like the sixth round pick for us that year and i was taking ground balls and doing stuff with them and he clearly was light years ahead of me. he had a better armed, he could field the ball better, it was quicker on the transfer. and i kept looking at him saying i'm never going to play. i am not that good. and they moved in immediately to aa, which opened up the spot for me. i started playing pretty well and started to hit a couple of homeruns. and then i got to aa and i had a breakout season.
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and in two years i taught him and passed into the leaks. so he stayed the same and i got better. >> what year did he get into the hall of fame? >> i think he is a minister in africa right now. >> speaking of the hall of fame, you were elected with 98.5% of the vote. have you ever figured at who that person was or didn't vote for you? what is this person waiting for? >> i have hunted all five of them down. in my particular year, i think mary -- mariano rivera went in 100%. my particular year there was a protest vote were five people didn't turn in the ballot as a protest to the steroid era. so they count it against you. >> did anybody ever say you are really good that you could be better if you take some of these drugs? they didn't try that? >> no. looking back on it you could
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probably see signs in hindsight of data might have used. if you are not in this secret society, you don't know. and i didn't know. >> someplace like one of 80 pounds and then later they were to have 50 pounds we didn't suspect maybe they were doing something in usual? >> yes. >> your 6'4". traditionally shortstops are more my height. you came along people didn't want people like me to be shortstop anymore. you change the game of baseball icing shortstops should be big and better hitters, or are they going back to the old mode of being fast but not great hitters? >> a lot of the shortstops, derek jeter being one of them, we credit for opportunities they otherwise maybe wouldn't have had. derek would have carved out his own path. but i did move from third to
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short. i was 6'2", 180 pounds coming out of heisel. i had a late growth spurt, almost three inches. by the time i got to the big leagues, i was almost 6'5", 220 pounds. they put me at third base but then earl weaver had this vision that i could play shortstop and we would be a better team. at one point he just put me there. my success at the position as a bigger guy, i'm a basketball fan. wish i could have been a basketball player but i remember magic johnson changing the thought of point guard. the bandages he had with his size, i think people started to understand that it bigger guy could play shortstop and second baseman named today they are some of the more celebrated positions. >> i think your highest compensation level was $6 million a year.
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that is a good compensation level in those days for sure. today for the average person that is a great income, but today there are some players making $400 million a year. do you ever think maybe you should have where they little bit longer to play in the major leagues, you ever regret the fact that some people are making $700 million and they are not likely to be as it is you? >> every day i think that, yes. [laughter] i had a really good job. i was a baseball player when you got paid for it. the compensation, i would one of the early ones he broke $1 million a year. then i got the $2 million a year. for the end, i was at $6 million a year but then it started going crazy. i look at it and i remember all the old players that said i wish that i would have played in that era. but the game evolves, used to be in baseball i think i look at
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myself as a sportsman, or maybe the value of the repayment was in the collective where you're playing well as a team and you win and that is. then all of a sudden you step over to a lot of players might think that they are entertainers now. it is a little bit more than what you do on the field. it is maybe your commercials, things redo off the field. they see themselves differently. ♪
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♪ >> i have a grandson who is four years old. if you wanted to be a major league baseball player what is the best advice you would give to a young person. he is a little done for advice
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maybe, but six-year-old, 10-year-old, what should they do? >> i think the worst thing you can do is put too much pressure on your kid. if you want it for him as opposed to him wanting it. >> your father didn't put pressure on you? he was a professional coach. start out as a matter of fact i can tell you because my dad was in professional baseball, he only saw two of my games in the ages of eight and 18 before i got drafted. parts of them. >> he didn't give you tips for anything or tell you have to do this or that? >> he was a great instructor, i witnessed him instructing other people so i learned through his instruction to everybody else, but he never stood over me and said you've got to do this. david: when you are a professional baseball player as famous as you are, people come up all the time and they want autographs and they say i hate to bother you but can it bother you? what do you say? you say i'm too busy, or you just do it? when you go to a hotel, all
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these little kids are trying to get autographs, how do you deal with all of that? >> when you get old, they don't do it so much anymore. no, i am thankful. i still can't believe that i get recognized as readily as i do. to me, always keep in mind that sometimes someone approaching you they are all nervous and they lose their mind and they say you are my biggest fan and i go, i am? they lose it, for then you have to keep in mind that it is meaningful to them. at that moment, by signing your name for a little kid and they run back to their mom or whatever else and say look what i got, you helped that happen. if you remember what happened afterwards, you just manage it. you just get through it. >> what was it like the day that you gehrig?
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there was enormous fan outpouring, everybody is calling you, you are on nationwide tv and you're running around the stadium and so forth. without a highlight of your life professionally? >> i answer that question in two parts. the best feeling ever on the baseball field is catching the last out of the world series 42 years ago. 1983. a little line drive. when you catch it, part of the dream of being a baseball player is winning the world series. because i caught the last out, that is the best feeling. second best and probably the best personal moment was the lab around camden yards. i was embarrassed of the game was stopped because the official halfway through, and everybody was clapping and i was saying thank you. and then they pushed me out and that you are going to have to take a lap around portland will never dip again started and i thought it was a silly idea.
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by the time i got around to the third base i could care less if the game ever started again.
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♪ ♪ ♪ something has changed within me ♪ ♪ it's time to try defying gravity ♪ ♪ ♪
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emily: on a hot day in l.a.'s san fernando valley, a 75-person camera crew is prepping magic tricks and setting up toys at a family home turned movie set. the star of all the action is ryan kaji -- ryan: that looks fun! emily: the reigning champion of toy reviews, who found surprising fame and fortune on youtube. he's been on camera since he was three years old, playing with trains, opening surprise eggs, and going on adventures with his family.

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