YTread Logo
YTread Logo

How Byron Allen Went From Comedian to Media Mogul | How I Got Here With Chris Paul

Aug 12, 2022
about building legacy wealth." - I just have to ask you, what's the most memorable thing in your entrepreneurial career? I'm sure t

here

are many, but I'm just saying, what's one thing you were into, wow?, I'm kind of happy that this happened. - The big moment for me was buying the Weather Channel. And the reason it was a big moment is because very often, as African-American businessmen, we're in the Negro leagues. And t

here

's no nothing wrong with the Negro leagues, but the one thing I always wanted to send to all these young black men: a picture of the global leagues.
how byron allen went from comedian to media mogul how i got here with chris paul
We don't just do business in our neighborhood. We do business in every neighborhood. - That's real, that's real .When I saw that, I was really happy for you. You know, like it was a big deal. - Thank you. It's the first time an African-American has owned a mainstream cable network. It was the #1 cable network the end last week. So when you think about what is owned by the s big corporations, News Corp owns Fox News, Comcast owns MSNBC and I own the Weather Channel. That was sending a message to all those kids: "I want them to see themselves where they're global.
how byron allen went from comedian to media mogul how i got here with chris paul

More Interesting Facts About,

how byron allen went from comedian to media mogul how i got here with chris paul...

Just because they're black, they're not going to do business just in black neighborhoods, and that's okay. But I also want you to know that you are." playing globally". - Right, and you talked about that a second ago, when you talked about legacy, right? And historically in Hollywood, there's a huge lack of diversity, right? - Yes. - So what kind of solutions do you see that could change that? - Don't play, own the game. I've always liked having the game. When I met my wife 20 years ago, she said to me, "What are you doing?" She was working from my dining room table.
how byron allen went from comedian to media mogul how i got here with chris paul
I told him, "I'm building the biggest

media

company in the world." And I have never strayed from that vision. And as I build it, I'm going to effect change for the greater good of the planet, because there are

media

companies that divide us. I'm going to join. Look, the President of the United States is not the most powerful person in the world. The most powerful person in the world is the person who controls the media, because we control what you listen to, what you see, what you think, what you read, and ultimately how you behave. - Absolutely. - So that's a very, very powerful position.
how byron allen went from comedian to media mogul how i got here with chris paul
And you have to manage it in a positive way and do things to improve the world. - But the reason you're so important to all of us, and especially to someone like me - obviously I grew up playing basketball. I was in my backyard with my brother, trying to be like Mike, right? Like, I wanted to be like Michael Jordan. And when you get to the NBA, you learn that, like you said, it's basketball, but it's also a business. - That's how it is. - You also want to learn the business. So everything you just said about a media company, obviously I started a production company called Ohh DIP!!!
And then with a few other athletes and guys from the league, we started another media entity called Players TV, which is all about including athletes. - That's how it is. - Right, that athletes are part of something bigger than you. And I think hearing you say everything you said is that whatever you do, you want ownership. - You want to own it and you want to have a seat at the table. Because if you don't have a seat at the table and you're not a part of, and your voices aren't heard or amplified, then it's not a real democracy.
We have a bunch of white guys who own Spanish networks and can't even speak Spanish. People in the gay community do not own their networks. People from the Asian community are like invisible. You don't even recognize them. Women don't really even own their networks. My position is that everyone needs to own these networks and own this content. And you need to amplify and produce yourself. I mean the four E's. Make sure everyone has a good education. Make sure everyone gets the same fairness. That all have economic inclusion. And make sure everyone has environmental protection. And you get those four Es, which equals the fifth E, which is excellence.
If you are successful I am successful, your success is my success. My success is your success. - How do you know what business risk to take? - I am comfortable with business risk. I mean, I'm a big believer in hitting the fences. I mean, my first movie I ever put out, I

went

to a friend of mine and I said, "You know what? I've got a chance: I found a shark movie we could do." And I said, "I need $30 million." I said, "I'll put in 15 million, you'll put in 15 million, but I need you to understand something.
You'll probably lose your 15 million. You'll lose every penny of this money, but I'm going to lose my 15 million along with yours." And my friend said to me: "Is that your tone?" I'm going yes. I said, "I'm just telling you the truth. That's my pitch." He says, "That's the worst tone I've ever heard in my life." He says, "You have my 15 million." So he put up 15 million. I bet 15 million. We released this shark movie, it ended up being the biggest independent movie of the summer. We did over $44 million at the box office. And we still laugh about it. - That's a great story. (Byron laughs) - He said, "Everyone who ever came to me and pitched always said I was going to make a lot of money.
You told me the truth and you said I was going to lose it all. And here we made all this money." He said, "Honestly, I couldn't tell you that we're going to get a person to buy a ticket, but I could tell you that I'd lose money along with you." - That's a great story. And I'll tell you this. I mean learning everything has been unbelievably amazing. But a question I always like to ask. - Sure. - This may just be a personal aspect for me, but every time I find out that someone has children, right? - Yes. - For me, because I don't have all the answers.
I always say that if someone has a book on parenting, he is lying. - That's how it is. - Because everyone is different. - That's how it is. - But one of the things that I have seen or that I have always noticed is that I feel that your children will be raised with a different level of privilege than perhaps you had. - That's how it is. - So being the way you were raised, you know, in a very moderate family - I know I was too. How do you make sure you keep your kids grounded while also keeping them motivated? - Oh, I'm good at reminding them: "This is my money, not yours." (Byron laughs) - Good, good, yes. - So I want you to know, don't get too comfortable. - Exactly. - You know, then, my children, they know that they are privileged and blessed, but they are not spoiled.
And that is, you have to work that. But the main thing is that I wanted my children to be happy, healthy and empathetic. And my wife, the credit goes to her. She does an amazing job with our children. She would take our children to school. I remember taking our 3-year-old daughter to school. And I remember her telling us, telling me, "Daddy, I see another homeless person. Daddy, I see another homeless person." She said, "Dad, why don't we stop to help them?" And I started crying because I realized: what was it about me that I turned off my empathy button?
And acting like he hadn't seen that. And it took this little 3-year-old girl to turn it back on. I said, "You're right. And we're going to help them." But they want to help. They want to support each other. And I love that. They have that compassion and that is very important. Anything else we can help with. We will make sure you go to the best schools. We will make sure that you are educated but more importantly, intelligent. There are many educated people, but they are not that smart. So we will make sure that you are a great contributor to this world.
That's all I want. - Yes, that is the biggest job we have. That's bigger than any shot you can take in a game you can win. And I bet on any business you can do. - And that's how I'm playing. - So listen, I can't thank you enough for all the knowledge you just shared with me. I appreciate you. - You got it. - Alright. - Thanks love. (both laughing)

If you have any copyright issue, please Contact