Brendan Walsh joined the Sport Lifestyle Podcast to explore some of the financial and economic impacts that the Covid-19 crisis has created. We discussed some of the more far-reaching consequences created by this situation on things like youth sports, professional and college sports along with exercise and general wellbeing. Brendan was a senior analyst for Discovery Capital Management. He is currently a partner at Data Market Services, A DC-based firm that is helping associations understand their needs for data and how they can monetize this potential revenue for their members. Brendan is also one of the co-hosts of the HPS Macrocast Podcast that looks at the news of the week at the intersection of markets, policy, and economics, providing smart and entertaining analysis in a concise 30-minute conversational format.
19:51 – Data Market Services: “Traditional data sets don’t really matter anymore. You know, I don’t really care what, I don’t know industrial production was in March, it went bad but you also get that data point a month and a half after March ended.”
21:30 – The state of the economy: “The whole world shut down. 25% of the workforce is basically, without a job, we had a huge fiscal response to try to fill that void. Now we’re reopening the economy and I mean, it’s just kind of math when everything goes to zero, when things start going again, that first bounce back is gonna be big.”
25:44 – Limiting professional sports: “I think people are also too optimistic that we’re going to have football. I think we’ll start the season and then it’s gonna turn into a disaster.”
27:17 – Absence of youth sports: “I think that’s the reality of a lot of these private youth sports. Uh, they, they’re not designed right to have a rainy day fund. They rely on money coming in and they have to pay coaches.”
30:09 – 20% of New York hotel rooms may never be occupied again: “I think there’s still very important value in some face to face interaction, but it doesn’t have to be a hundred percent. And I think the hotel industry is realizing that and every business in the world I think has experienced these three months that people working from home can actually be more efficient than the office.”
34:37 – Categories of business that will thrive: “Out of this, I say the big winners are, like the PayPals of the world and Visa, and MasterCard.”