This Week in Startups Mojo CEO Vinit Bharara on building a stock market to bet on athletes | E1566
Sep 21, 2022
Vinit Bharara, CEO and co-founder of Mojo, dives into the exciting world of sports investment. He discusses his innovative platform that allows fans to bet on athletes like stocks, emphasizing the challenges of liquidity and regulatory hurdles. Vinit reveals how Mojo raised $100M to launch and provides a fascinating product demo. The conversation also touches on the ethical dilemmas of sports betting, player metrics, and the evolving landscape of athlete investments, all while sharing personal stories and insights from his ventures.
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Working with Preet
- Vinit and Preet worked together for four years without major disagreements, despite occasional differences of opinion.
- Vinit managed Preet's talent with care, acknowledging the importance of respecting talent's preferences.
Mojo's Sports Stock Market
- Mojo is a sports stock market where fans invest in athletes' careers like stocks.
- Share payouts are tied to career-end statistics, providing intrinsic value.
Mojo's Revenue and Legality
- Mojo profits from transaction fees on trades, operating under state-by-state online wagering laws.
- New Jersey is their first market due to its innovative gaming regulations.