Please like and comment on the video below that will allow me to produce better quality videos and more of them in the future. So one of the things that I am hopeful is that we’re just on the start, or maybe through the middle of a very long journey on betting exchanges and the technological disintermediation of the bookmaker. This is one of the things that I was always excited about when you look at exchanges, and that was the thing that got me involved and I was thinking about what could happen in the future and how things would evolve from there. Now, of course, you know, there’s a lot of water is passed under the bridge.
Now we’re nearly twenty years into this big experiment with betting exchanges, and of course you know, the market was very fragmented. Its consolidated now and you know well, perhaps not growing as fast as we thought we should be. So I have done a few videos on this before and if you remember I did this video when I was in San Francisco, where I was talking about speaking to companies over there about you know seeing what was going on and where we could take things from There so yeah, I don’t remember if you’ve seen the video or maybe not but yeah the I did a video from San Francisco, whereas talking specifically about the betting exchange opportunity. So don’t know if you recognize the skyline behind me, I’m in San Francisco, and this is the home of many technology startups, but more notably, and for the purposes of this video it’s home to Airbnb and uber, and these are peer-to-peer companies that are transforming the way That they develop their industries and really when you look at it, betting exchanges are noted from their peer-to-peer network, but one of the problems we’ve had with betting exchanges is over the last 15 years and they’ve been active. They should have totally changed the world what they happen, and I want to change them. I want to make sure that we actually changed the way that people interact in sports markets.
It should have happened now it hasn’t for whatever reason, but I want you to join me and make sure that we do make it happen. Now, one of the things that I did when I was over there, because the video doesn’t specifically mention what I was doing, it was speaking to all interested parties. So this would be entrepreneurs techie guys about basically the exchange mechanism and, of course, the problem you have in the US is that you know betting and gambling isn’t very widespread and isn’t generally embraced for want of a better word. So it’s a bit difficult to get the concept over. So I was trying to speak to companies that I felt with similar lines that were solving similar problems and similar sectors that you know could easily apply that to the sports market and get this growth back into the whole exchange model. Now one of the problems that I had is, if you speak to techy guys they get excited about the technology.
And if you speak to companies that are in that sector, they may not fully understand what the opportunity is, and you know you have entrepreneurs, investors and the business people that are going to make these things happen, and I realized that one of the mistakes that I’ve Made would be speaking to each of these individual parties when, in fact, what most of these people are looking for is money. Basically, in Silicon Valley, people want funding and they wants to throw the hat in the ring on a grand new idea and they tend to think on a very large scale. So I realized, after a couple of visits, that in fact it was venture capitalists really that I needed to be speaking to, because these are the guys that wants to give the money out when they wants to put it into investments.
That may have a chance of the payoff and the way that a VC works is generally. They may have you know a hundred million or something and they’re willing to slice up that money into smaller chunks, and they accept that a lot of those projects won’t pay off, but all they need a few of them to pay off and they’ll get. All of that money back and then some so on.
My most recent visits to San Francisco, I was speaking almost predominantly to venture capitalists and you know jeering up and giving them a background, giving them a steer basically on the industry and how the industry is structured and where it could be going and things that could Be done and the VCS have lots of connections out into that community where they can sort of identify people or things that could happen. So I you know, I have a little bit of money to invest but not a great deal, so I felt that my role was more as somebody that could you know, influence or advise on these sort of things, and you never know things may happen and stuff May just pop out of the woodwork but, as I always say on my videos, you know I’m happy to go out there. Try a few things, make a few comments, meet loads of people and then things sort of tend to happen from there anyway. So yeah.
I have given some early funding to little projects over in California and not so any substantial scale, but more to take a stake in an interest in those individual businesses. But it’s really the VCS and other people that are going to be driving that sort of advancement, because I don’t have that sort of money available to distribute, but also from a political sense in the US. I don’t have any votes to give to anybody. So that’s what seems to drive everything over there is money or votes, and – and really I don’t have any of those.
So all I can do is attempt to get involved, have an influencing role and who knows where all of that goes. But the reason for doing this video is it’s interesting to see that we are beginning to see a little bit of momentum beginning to build specifically with blockchain technology. So one of the companies that I was interested in and that sort of took me to San Francisco in terms of my quests, to understand what was going on and things that were going on was a company good alga, which was based around blockchain technology, Bitcoin and Betting, but it’s interesting to see the progress of people like peer plays and the platforms that are sitting on pay plays, such as book II, which is basically a blockchain distributed, ledger technology exchange. And if you look at the bio on there, I think that you’ll recognize the sort of a wording that has generated that particular opportunity. And I think that there must be many other people out there.
Inc, including me that, and on top of what I’ve said in the past, that probably feel a similar way that there’s a much bigger opportunity out there if only the right thing is put in place. Now there are many barriers to overcome many things that are going to get in the way, but nonetheless I think that always your role in life should be to create the future, not to reinvent the past. So it’d be interesting to see where all of these sort of things go, and you know I foresaw the internet. I was around with an Internet company before the internet really took off and I foresaw things like YouTube and and – and I didn’t see other things, but the fact is, there are loads of things waiting in front of us and it’s great to get involved as early As possible, in those things, because you never quite know where they’re going to go or what they’re going to do, will it radically change the landscape and not change it at all or force existing participants to readapt things or to change their model? And that’s why I take an active interest in it, but the whole point in doing this video is to basically say that I don’t feel that a lot of those meetings were particularly wasted, because it does seem that there is a little bit of momentum gathering now In these areas, which is what I hoped may happen – I’m not going to take credit for doing that, because obviously many other people would probably have the same thought and probably have money to distribute. But it’s interesting to see that we are beginning to see a little bit of momentum in that area and it’ll be interesting to see where that ends up either directly in terms of how these models evolve or how they shape the industry going forward.