if you've been on social media at all

over the past couple of weeks you've

surely seen the giant HD video sphere

plopped on the Vegas Strip some fun

facts it is the world's largest and

highest resolution video screen it's 580

000 square foot screen it's the world's

largest spherical structure it's around

30 stories tall and it cost more than

two billion dollars to build which you

might not have realized is it's not just

an insane looking art installation and

billboard they haven't let anyone inside

yet but a couple of months from now

we're going to get to see what's going

on in there and it is an equally

impressive high-tech venue for concerts

theatrical Productions and it can even

transform itself into an immersive

sports arena and it it has to be the

most meme worthy viral aspirational

venue in the world everybody who goes to

Vegas is going to want tickets

regardless of what's going on in there

and the best part it's investable that's

right

sphere entertainment code ticker symbol

sphr today on dumb money our investment

in the future of entertainment and what

we think could become the next big meme

stock

this is dumb money live

Dave here along with Chris and Jordan we

are done money welcome to dumb money

live let's try to make this video go

viral maybe uh maybe post a link on Wall

Street bets but at minimum just give us

a tap on the like button it's quick it's

easy it's free Chris Jordan some

background on sphere entertainment Co

it's a bit of a complex restructuring

MSG entertainment which owns Madison

Square Garden and Christmas Spectacular

and some other things they uh spun off

as a separate entity uh ticker symbol

msge and the parent company renamed

itself sphere Entertainment Company

ticker symbol sphr which is now the

actual sphere itself plus MSG networks

which is the regional Sports networks

for the Knicks and the Rangers and also

Tau group hospitality and they still own

about two billion dollars worth of msge

so sphere Entertainment Group sphr they

have a 1.2 billion dollar market cap

right now there's posted on Wall Street

bets explaining why it's undervalued I

think that kind of makes sense but Chris

Jordan I want to hear uh why you like

sphere

well Dave uh I own it I bought it and

that's what I hear

gosh I am actually I put an order in to

buy more this morning it just went

through okay so

just I just added to my spirit just from

from uh like

percentage of portfolio standpoint is

this a high conviction trade for you is

it medium what do you what are you doing

okay well to understand it let's just

let's start by talking about Vegas

because spear is all about Vegas

for those of you that are young

Millennials or Jen's ears watching this

Vegas has had virtually nothing fun for

20 years okay when we used to do Vegas

there used to be Lions there used to be

pirate ship war shows on the strip and

it seemed like every year they were

trying to introduce something new

someone had a new spectacle that got you

to go well I got to go back to Vegas and

see that Vegas in the 90s and the 2000s

was the funnest place on Earth there was

always something new always something

exciting it wasn't about the most

luxurious Resort beating out the next

most luxurious Resort it was about this

Resort has something crazy or this

Resort has something super fun or that

it morphed from being like you would you

would go there because there was a new

Cirque du Soleil that you wanted to see

now it's become like well there's the

most expensive bottle service at this

pool let's go see if we can

pay ten thousand dollars a day just to

sit by the pool here's a thing man Vegas

has sucked for so long like I know I

sound like someone who is talking about

the way Vegas used to be in the 50s or

60s who I I used to think of those

people as like what are you talking

about Vegas strip everyone left the old

strip I'm talking about the old strip as

like the 90s and the 2000s that was my

Vegas that was fun Vegas Vegas has none

of that anymore until the spear hit the

internet a few weeks ago this spear is

everything that Vegas should be it's

everything that everybody actually wants

something that is mind-blowingly

interesting and cool and spectacular

right like in the world of being on your

phone all day getting dopamine hits all

day the spear is the ultimate dopamine

hit like people are going to go to the

spear from every country in the world

just to experience something different

something spectacular right just like

you used to go just to see the Eiffel

Tower for the first time or the Bellagio

Fountains those were those were like the

big draws and this has just really

outdone Vegas a multi-billion dollar

theater that in my mind is the

equivalent to do you remember when the

first movie theater came out that

actually had like leather recliners and

served you real food and they charged

triple the price and everybody was fine

with it and now every single movie

theater that's still out there is

converting to something like that it

seems because they just revolutionize

what our expectations were well we've

had the same sort of Arenas the same

sort of concert venues for decades they

just be getting bigger and bigger the

spear is like forget it we're gonna

completely change the game and by the

way nobody's really been inside to

experience

the only thing that's had really

happened is they've lit up the outside

right and so the outside is really all

you can see and so it builds that hype

cycle of what's it going to be like dude

Jordan but I think that's the most

genius thing that they did by the way is

they made the outside of it this

beautiful you know experience and then

and then they have like a team that all

they do is come up with these like super

high-res you know uh things to paint the

thing in which the eyeball is my

favorite one by the way guys endless

opportunities it will always be

something interesting and new and

relevant and fresh like this is the

equivalent of the Luxor 30 years ago

times 1 000 right yeah yeah you would go

just to take the tour of the building

and yeah it was different I don't know

it'll be like revolutionary for forever

but I think that right now you're going

to want to take to take a trip to Vegas

just to see it

yeah but look they don't get any Revenue

by you just going and looking at the

outside and so I think that's where it's

a it's a giant billboard

it is a giant billboard but they're not

using it as a billboard right now

they're making an eye and like the Earth

and all sorts of things like that

okay so Jordan here's a thing I I can

talk about how you know my investment

thesis is about the fundamentals or how

this thing is undervalued which a lot of

people are saying uh or I can talk about

the management team but to me none of

that matters I'm a social arbitrator

right so I care about one thing and one

thing only

the hype cycle going into the opening of

the spear this September I think is

going to be insane just based on the

early reads of the exterior of this

project this multi-billion dollar

experience opening with you know they're

opening with YouTube whatever

um every single person in the world

every media organization every content

creator everyone on social is going to

be posting about this talking about this

talk about the Ultimate Experience this

thing is going to have the biggest hype

cycle so many eyeballs are going to be

on this going into the launch this

September and then everyone in the world

is going to want to experience this at

least once assuming that the actual

experience itself on the inside is half

as cool as what we've seen on the

outside I I think similar to our Mattel

trade it's about getting in now before

the real hype cycle starts

to me I don't care about the

fundamentals all I care about is this

thing is should I think it will be hot

hot going into the grand opening this

September I want to be part of that

story I want to be in before that story

starts right and so I bought spear

because I think the excitement level for

this going into September is going to be

through the roof will all those people

that see the videos of spear on Tick

Tock come September that read the news

stories that seed on The Today Show that

are reading about it in the journal are

they all going to go out and buy the

stock of course not well some portion of

those people say wow this is kind of a

big deal do their research and choose to

buy this what appears to be a very low

float stock I think so and Dave in terms

of being a memeable investment stock it

absolutely has that going forward as

well so I'm in we're not financial

advisors this is just my thesis I am in

as a social ARB investor is it high

conviction no

um I don't know medium conviction

I think the risk reward going into the

opening before a single person ever

steps foot in this Arena

I don't see much downside because the

reviews that are going to be leaked you

know they're going to be spectacular

right like the first people technology

yeah the technology is like a whole new

immersive experience the same way the

outside is wrapped in this HD video

screen the inside is wrapped with an HD

video screen and they have these like

beam forming uh speakers that every seat

has perfect sound it's going to be an

experience unlike anything you've ever

seen and I think that there's going to

be a cycle that every single person who

goes to Vegas is going to post a picture

of that I mean it may get it may get

canceled just because people are sick of

seeing it the same way they're sick of

seeing beach pictures in the summer but

I think that everyone's going to post

about this and if they get to see inside

they're going to be posting their

experience but Dave if they do a good

job with this and I assume for a few

billion dollars of Technology it will be

spectacular right what's going to happen

I think is that any performer any

Entertainer that has the capability

ability to do something really special

something really interesting is going to

be lined up for their chance to do

limited engagements at spear because

people I think would be willing to spend

twice as much money probably maybe more

to experience something in this

revolutionary Arena right but I don't

think the tickets are twice as much I

think they could be but they right now

what I've seen the pricing of tickets

seems yeah concerts are expensive now

I'm like 200 bucks for the highest cost

seat seems very reasonable but Dave if

this ends up being spectacular which I

think it can be the pricing power in

Vegas for something like this is

enormous but it's not just about pricing

power the ability to attract some of the

most interesting talent in the world to

perform in limited engagements at spear

is yeah so that's where I want to get

into that that's kind of the problem

that I'm seeing here so they're opening

you know they're opening with YouTube

which is fine so I think they've they've

agreed to spend like 10 million dollars

plus

um you know I assume U2's gonna get the

bulk of the ticket sales but just just

as a little footnote I think it's

interesting we started out by talking

about Vegas of the 90s and to have you

two performing you know they remember

their new teach V tour that was like the

most revolutionary video audio

experience at the time where they had

like big screens in a stadium I I think

U2 actually is a fairly appropriate way

to kick off I think it's really weird uh

because you two like you know I mean

they haven't had a hit since the 90s um

but that's just it doesn't matter but

let's talk about this so you know

YouTube gets 10 million bucks plus they

get probably the bulk of the ticket

sales

um you know

um the sphere gets you know probably the

bulk of the concessions

but is that really is is that would you

invest in

like a concert venue like let's you know

this one no no stop like if you talk

about like you know the Cowboys Stadium

or something like that cities have to

heavily subsidize these things for them

to make economic sense

Vegas did Vegas is an investor about

you know who are the acts that they're

going to be able to pull in uh because

I've I've already read that a lot of

Acts aren't really interested in

performing within the sphere

um because it's a totally different

setup to what they're used to

um they're gonna have to go into all

sorts of different multimedia just to

make it make sense and so it's just not

something that a lot of bands are ready

to do so Jordan needs to have a show

designed around the venue which is well

you don't need a lot of bands it's one

venue in the world we don't need

hundreds of bands you don't you

literally need a very small handful of

limited it's one place and they're doing

one more yeah and literally turn it into

like a big night show right I mean think

about it like Celine Dion sold out in

Vegas for how many years like they could

just have a they could have a house

failed play no seriously

you have one performer that can sell out

two years of a place in Vegas like

literally one performer like you two if

they wanted they're not going to if if

you find a big like if you had somebody

like t-swift and they were willing to

just play in like one place but they're

not because they're going out and

killing it across across Jordan this is

big no what are you talking about in

Vegas we have people like Britney

spirits who will do one-year engagements

yeah and you're talking kind of like

spare like you know current B former A's

but current B celebrities but it still

makes a ton of money it doesn't matter

people pay people pay 300 400 a ticket

to see someone from for Celine Dion but

they could do that that's great they

could do that anywhere or they could do

that at win sphere or whatever but are

they going to really spend the extra 100

or 200 to watch it at the sphere when

ticket prices are already out of control

I would only need one Entertainer like

every six months or three to six months

that's it like you don't need hundreds

to agree to do this like that's the

thing all you need is of the thousands

of entertainers you find a small batch

that are willing to spend six to eight

months preparing and doing Tech and

doing all it's not for everybody it's

not for everybody if if the if the if

the business model of spear were to

build 500 Spears around the world I'd be

like okay I'm not exactly sure how

that's going to work but they're talking

about right now one plus one one in

London right one in Vegas does that make

sense you know tell me I mean does that

make sense to have basically one

performer come in for a month two months

and they're just the show that's at the

sphere for two months

um and then that's all the sphere is

really doing does that does that make

sense that's how Vegas works and the

money of those venues is insane

um like it's if they can what other

venues are getting you know hotel and

they're getting you know all sorts of

all sorts of different Revenue options

right if really all you're getting

is the concession

um as the venue does that make first of

all that doesn't that's not necessarily

true that what what's happening YouTube

for like a real big guy I mean most

these you know they're getting the bulk

of the ticket sales okay so okay

whatever they're doing today is

irrelevant if this thing there nobody

knows what the reaction is going to be

to the spear if we get a hugely positive

reaction they could do anything they

want they could close it off to any

entertain they could just they could

throw a a spear show they could have

like a circle lay Style Show at Spear

and there is no Entertainer and spear is

making 300 a ticket from every seat in

the house every single night for the

next five years because every single

person in the world is gonna want to see

this thing in Vegas for 300 dude

everybody that goes to Vegas usually

sees one or more shows at two or three

hundred dollars a ticket now the one

thing that I think is pretty genius is

they could like you said a giant

billboard you know you know they're

doing their eyeball or whatever and then

all of a sudden it just flashes come see

our three o'clock show whatever it's and

you can literally see that from almost

anywhere in Vegas I read the uh the

golfers at wins Golf Course are not very

happy because like it's right on the

golf course you see this giant

distracting eyeball looking at you

who cares though you're right but who

cares but for a little historical

perspective Elvis Presley had his

residency in Vegas and he did three 636

consecutive shows so Vegas

that wasn't like a sphere size you know

no it was just a at the international

that's what I'm saying so like he had

you know like a what 500 750 people show

up yes

Celine Dion

the world wants premium it wants the

best it wants something different people

want to be wowed they want to be wowed

and this is the most wowable

thing on earth theoretically from an

entertainment standpoint right it's the

most spectacular most differentiated

most interesting entertainment venue on

Earth Okay and like there's only one of

them right now there might be two of

them at some point in the near future

that has value to it right like that is

just that is they don't need to do that

much to sell tickets at one or two

places every day for the next two years

yes let's talk about the other part of

it so you know I read an article this

could be totally wrong but

um Tau basically bought you know 60 or

70 percent of

um the value of the sphere and so what

actually are you buying with SP no I

think

I thought they spun off Tau and the

spear owns a third of Tau I thought is

how it's structured I thought it was the

other way around but I could be wrong I

I you know what it's funny to me it

doesn't even matter because it's not

part of my trade thesis I mean you want

like a towel operating I mean it makes

perfect sense listen honestly I cannot I

can operate it I can operate I could

single-handedly I can go out to Vegas

this week and be like I'm taking over

marketing what do I have to book

I'll get like five entertainers over the

next two years to do limited engagements

I mean how hard can it be to fill the

most spectacular multi-billion dollar

entertainment venue in the world like

how hard can that I don't need marketing

firms to go scour talent to try to rope

them in that's not what this is about

like how hard can it be I I know that

they'll be able to pull that piece off

all I know is that all I know is that

there's an article saying that they've

been they've been having a hard time

booking talent I don't know if it's

because relationship with Dolan and

people don't like him or if it's because

I'll tell you why I have information on

Jordan I have information on so I I do I

do have a friend I'm not gonna say I do

have a friend who's affiliated with this

whole project and I talked to him uh a

couple months ago before it went before

it went viral and he told me that it's

just a really unique venue and so for

someone to book there there's a

tremendous amount amount of commitment

in terms of developing a custom show

learning about this new media and this

new technology U2 is the perfect type of

band that's like they're all in on it

but there will be others but it's not

for everyone you really have to invest

the time the effort to do something

spectacular that fits in this venue and

that is a problem

until the buzz gets out there and it

already has now the hype right to where

all of a sudden they'll go from people

being like do I really want to spend six

months with my team and millions of

dollars to figure this out when I could

just go perform at the same way I've

been performing for 30 years well that's

you know that's kind of part of my point

right so like uh George Strait you know

I went and saw him in Vegas his look I

mean

by the way

he would not do well in the sphere right

it doesn't make any sense for him to

play in the sphere but bro country would

make sense in the spear you know there's

a bro country artist out there that is

all over the trucks and American flags

and the fireworks yes

yes you have like Coors Light cans just

orbiting you dude the spear is not about

Coors Light the spear is about like if

it was country one of these bro country

guys going in and doing a weird show I

mean I actually could see someone like

Taylor Swift years down the road doing

something spectacular there but

um they're not going to want to pay that

money they don't need Taylor Swift right

because the spear is Taylor Swift that's

the thing the spear in itself is the

Taylor Swift so they can stick you too

and people will come that ordinarily are

done with you too like I have no

interest in seeing you two but I'll see

them at the spear you know what I'm

saying like I'm not gonna go see you two

perform in Dallas like I'm just done

with that like I'm not going to one

Stadium to see a concert anymore but

this is the way to draw you in the same

way I'm not going to a movie theater to

watch a movie but if you have some crazy

experience audience I might consider it

the world is not under investors have

been caught on to this yet I don't think

in terms of how differentiated this is

going to be again I'm I might have to

pay the price for completely ignoring

the fundamentals here

I'm not worried about fundamentals

because this thing hasn't even launched

yet I'm going to assume that there's a

business model somewhere for the spear

that actually makes sense but I don't

even care because the spears being

Priced Right Now based on whatever that

business model is

I don't know what it is okay I'm just

looking at some comments here

more people caring about the spear come

mid-september then care about it today I

care about having I'm going to say half

a billion dollars to a billion dollars

of free media free viral media between

September 1st and the end of this year

but because they will be on every talk

show they will be viral on every social

platform there is going to be pictures

and people talking about the spear and

their first experience at the spear

everywhere they don't have to pay for

media they don't have to Market everyone

in the world is going to be hearing

about this thing when it launches in

September I think yeah I mean it's a

good thing right because they don't

really make that much money on some of

these bigger name shows now you know to

me it's all about what they book and if

they have you know some extraordinary

shows how much are they going to utilize

that space what's that capacity look

like are they going to be utilizing it

all day every day you know if they can

get but you know the the concession

Revenue through I think maybe that makes

sense if

after of the sphere I would do the

YouTube concert maybe I do a couple

other big names and then after that I

would like do a deal at National

Geographic and have like nature stuff

and like anything like weird you know

that they're gonna have like it's not

just a nighttime one-time A Day concert

venue it is also like a fully it's a

wraparound movie theater that can do

whatever kind of shows and it can be an

all-day money maker I would want to be

having people pay 200 at 10 in the

morning for a 60 Minute

mind-blowing show where you're just

whatever right like and I want to be

having like 10 shows a day I would want

that place to be generating more Revenue

per square foot than any entertainment

venue in the history of Earth has ever

generated that's what I would do and I

want to keep every last penny of it I

would occasionally do big concerts I

would occasionally do stuff like that

just to keep the attention on it but

then in between I'd be running tickets

where I get to keep a hundred percent of

the revenue because everybody's going to

want to try the spear for themselves one

time people if you can find a compelling

set of shows to put in that facility

doesn't want 80 90 of the ticket Revenue

no like literally when you go to a place

that has an like an Omni Theater you

just watch whatever random volcano show

that they're showing just because you

want to see it you don't go because

you're interested in learning more about

volcanoes you go because that's the

thing you do inside of the Dome

100 the last thing I said by the way

that made me think of the last time I

went to the Omni Theater was when our

girls were a little bit smaller and we

went and saw uh rescue dogs of the Omni

it was fantastic and you would

definitely go see that in Vegas in a

bigger more high-tech version coming to

Vegas rescue dogs

if I were the uh the you know the

promoter of this thing the other thing I

would do is for bands that don't want to

spend time and money making a immersive

experience of their own stuff I'd have

so much like stock footage and and just

fully here's a two-hour show that we can

play in the background while you're

playing your music

right

yes by the way Dave we're seeing Barbie

at 7 p.m tonight just reminding you oh

okay do we have reserve seats yes yes

okay it's good seats yeah I bought I

reserved them like weeks ago so and what

are we seeing Oppenheimer

uh so that's a great question tomorrow

right

I'm going I want to see Oppenheimer like

next week uh sometime so if you want to

go see that together too I mean you know

Amy and Amy will be home by then so

she'll want to see that one but

uh do you realize that you and me Chris

we're going to the Barbie movie together

without our wives and girlfriends it's

gonna be interesting are you gonna wear

your pink shirt

I might please don't please don't no I

won't I won't repeat I I think we got to

go I'll be wearing a hat we're gonna go

low profile we're gonna sneak in that

theater and sneak out hopefully not

seeing anybody that we know oh my gosh

well it is right in our neighborhood the

theater we're going to so

[Laughter]

anyway

listen I like the risk reward on spear

um at least between now and September

who knows what happens if they open this

thing and people are like

it's not even that great I'm out

that the the experience it's going to be

a differentiated experience yeah is at

least as cool as the experience on the

outside and if it's not I'm I'm so out

of this but by the way by the way this

is only cool and tell Apple's headset

comes out then you can have the sphere

experience on your face and not have to

even go to Vegas where it's like 150

degrees

yeah that's a big downside by the way is

that are people going to be able to go

to Vegas anymore it is

insane

I mean

I mean but it's an indoor experience I'm

sure the air conditioning is amazing in

there and if only they had like some

kind of air-conditioned tube underground

that could get you into it then uh then

I might be going

yeah no I'm just gonna wait for my Apple

headset I don't think I'm gonna actually

need to see the spear all right but but

you heard me saying spear now nobody in

the comments just notice how you're

saying sphere wrong every time and

saying spear but here I thought I

thought for sure we're gonna get a

thousand comments on that but I don't

say okay let's to

OK it up we are in a world where things

go viral and you end up getting a

billion dollars of free marketing if you

do anything interesting differentiated

or cool that's what this is also listen

we our brains have all been rewired the

circuitry has been rewired to want

dopamine heads we've all have so much

dopamine running through our brains with

our phones and Tick Tock every day that

we we're constantly searching for

something bigger and better and spear is

that's what spear is right the I think

the entire world is going to travel to

Vegas and eventually London to

experience this thing I think they're

going to have amazing pricing power I

think this is a truly interesting

differentiated type of venue and uh I

think there's gonna be a hype cycle

going into it and I want to be an

investor as part of that hype cycle

obviously there's a risk it's it's like

a really concentrated company right so

like if it sucks you could get destroyed

but

you say it's a medium conviction trade

for you and you're just hanging on to it

during this hype cycle yeah that's it

all right well this is a special day

because it's a double header of dumb

money live we have two shows for the

price of one which is still free

um so if you're watching us make sure

you just stay tuned and you're gonna get

to see the next show right here that's

going to start in about 30 seconds from

right now so I'm just going to play this

music and then you're gonna watch us and

we're going to be talking about um this

very odd company that we found

thank you

[Music]