The Peel with Turner Novak Roger Ehrenberg | Investing in Sports, 10x Funds, Traits of Top Founders, Current Seed Stage Market, Investing in Detroit
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Nov 6, 2025 Roger Ehrenberg, Co-founder of Game Changers Ventures and IA Ventures, dives into the world of seed-stage investing and sports ownership. He shares insights on how COVID transformed the sports landscape and the potential of innovative formats like the Tomorrow Golf League. Ehrenberg discusses the significance of real estate adjacent to stadiums and the evolving business models in sports. He also highlights traits of successful founders and gives valuable advice for emerging managers, emphasizing empathy and a drive to solve problems.
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COVID Catalyzed Emerging Sports And Distribution
- COVID accelerated emerging sports, creator distribution (YouTube/Twitch), and fan-centric formats by removing traditional content bottlenecks.
- Constraints during COVID unleashed creative formats that attracted new audiences and experimentation.
Build For The Fan, Not Just The Team
- Do focus startups on tightening direct fan relationships rather than selling only to teams as enterprises.
- Build tech that personalizes engagement and monetizes fan lifetime value across media, payments, and community.
Prioritize Shipping And Fan Delight Over Early TAM
- Do prioritize founders who ship product and build a delighted first customer at pre-seed/seed.
- Roger emphasizes founder empathy and execution over early TAM debates.