The new Supreme Court decision on sports gambling (New Jersey vs NCAA) will lead to a Cambrian explosion of new companies, software and of course, huge new revenues.
So says Steve Murray, managing partner at early stage venture firm Revolution Growth. In our conversation, recorded a few weeks before the SCOTUS decision was announced, he explains how the shift in jurisdiction of legalized sports gambling to the States from the federal government is a game changer. Expectations are this will create an enormous number of new companies and innovative business models around the new world of legalized state gambling. The resolution of this legal gambling issue is also going to affect major sports leagues, big media, live sports viewing, and even fantasy sports, in many unexpected ways.
Murray also sits on the board of directors of Fitbit, Inc. (NYSE: FIT), the growing wearables industry from that vantage point. From mindfulness to exercise to sleep, the personal data that you can collect from personal wearables are currently significant, but the next step will be significant improvements in health monitoring of issues like blood pressure, sugar, etc.
You can stream/download the full conversation, including the podcast extras on iTunes, Bloomberg, Overcast, and Soundcloud (?) . Our earlier podcasts can all be found on iTunes, Soundcloud, Overcast and Bloomberg.
Next week, we speak Ed Yardeni, Founder and Chief Investment Strategist of Yardeni Research, and former Chief Investment Strategist at Deutsche Bank.