I feel more confident about LIVX as a long-term hold play after participating in Frday nights meet and greet and the private music event. The venue was incredible, the food spectacular, and the entertainment outstanding and above my expectations.
Rob Ellin, the CEO of LIVX was a gracious host. I had an opportunity to meet Rob's business partner and the President of LIVX Dermot McCormack. It was my first time meeting either one of them in person.The meet and greet where we met Rob and Dermot was held and the 83rd floor of the Nobu tower @ Caesers Hotel overlooking the strip. It was also the same place that the private music event was held later that evening. It was a beautiful villa with a breathtaking view of the Las Vegas Strip.
I have been around a long time. Over the years, from my interactions in the corporate world with executives and the hundreds of interviews I do now as an investor, I have learned to identify strong leadership skills.
Leaders have a passion for their business, a work ethic that is almost incomprehensible; you can sense their burning desire to succeed. Leaders can precisely convey their vision; they are focused but not narrow-minded. Leaders will define and articulate their bodacious goals to their team and others, and it becomes infectious to everyone around them. Leaders assemble teams that have bought into the vision equipped with a skill set that will help transform the dream into reality. A great leader surrounds himself with people that are better than themselves in certain aspects, and they embrace the ideas and creative suggestions that their teams present. As the pieces come together, the company begins to materialize as more than just a vision. High-caliber talent starts to migrate towards the company because they want to contribute and go along for the ride and build something spectacular.
I can say with confidence that Rob and Dermot possess the qualities I listed above. These are not takeaways that you can always find listening to conference calls or reading press releases. These are things that one can learn by spending some time with someone and getting to know them on a more personal level—seeing them in action, how they react to certain things, talking with their employees and others that have known them for many years.
Rob has a track record of success. He is a proven winner, Digital Turbine (APPS), Mandalay Digital, The movie 300 that Rob funded and became a cult classic. Rob had or still has a seat on the board of Cedars-Sinai Medical Center and is a Managing Member at Trinad Advisors. His beautiful and charming wife of 17 years told me that he never stops; he sleeps on average 2 hours a night and has a drive like no one she has ever known, and that was very clear to me on Friday night.
Dermot shared with me that he came to America with 800 bucks in his pocket 25 years ago when he landed in New York, and as any good Irishman would do, he spent 700 of it in the bars his first night. He started his work life in the states as a bartender. "A native of Dublin, Ireland, he holds an engineering degree from the Dublin Institute of Technology. He went to work for Verizon and became the McCormack was EVP of Digital Media for Viacom's Music Group. By emphasizing organic traffic growth, social media integration, strategic partnerships, and storytelling around music, he helped MTV build a user base of more than 100 million followers, leading MTV to its position as the most visited music site on the Web. Among other innovations, while at Viacom, McCormack created the O Music Awards, a multiple Webby Award honoree, and developed Artist.MTV, a platform for artists to create and manage their online presence. He also launched the MTV Music Meter, an algorithm-based discovery tool that recommended music based on social media traction. He launched the MTV Music Meter, an algorithm-based discovery tool that recommended music based on social media traction. From there, he went onto AOL where he was a key player in the sale to Verizon." (Source Executive profile on LIVEXLIVE website)
Friday night's event was a very memorable moment for me. It was a special night and one that I enjoyed sharing with my friends /AWT members. I feel there will be other opportunities for the members who could not attend this event to meet the team from soon-to-be LiveOne. When that opportunity arises, please make every effort to attend it will be worth your time. If you have invested in LiveOne you will feel more comfortable about your decision to invest after spending some time with this team. I am excited about their future and look forward to watching the story unfold. I will close with this.
After such a great evening, I sent Rob and Dermot a text and thanked them for their hospitality.
From me
"Here is to the beginning of new friendships and success in our endeavors for many years to come."
Rob's response
"Let's win big!"
Nothing in life or the stock market is guaranteed. However, I like my odds with this one.
