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SBJ In Depth

AEG's global blueprint

Editor's note: This story is revised from the print edition.

On a recent Friday afternoon in Los Angeles, 800 people converged on the Staples Center for a most unusual trade show. Among the businesses with booths lined up on the arena floor were an ad agency and an architectural firm, building contractors, sports teams, and concert venues and arenas from around the world.

What was unusual wasn’t the mix of businesses, but that they were all, in essence, one business. After a decade of explosive growth that saw it grow from 50 employees to 5,000, AEG was trying to get to know itself better. The people circling the arena floor were AEG employees stopping at booths run by AEG operations, some of which they had never heard of and provided services they never knew about.

The day before, after CEO Tim Leiweke gave a state of the company speech in a ballroom at the Wilshire Grand Hotel, StaplesCenter CEO Lee Zeidman stood at the front of the room and said, “By applause, how many of you have been with the company as long as I have?”

Zeidman has been with AEG for a decade, before it was called AEG. The initial applause was sparse, but it got louder as he asked for those who had been there for seven years, then five. By the time he got down to two or three years, said one AEG employee, “almost half the room” was clapping.

AEG has grown so fast that even people who have been with the company for years don’t know everything it can do. For newcomers, the enormity can be mind-boggling.

“The trade show was a phenomenal way to get people ingrained and educated into the way we do things,” Leiweke said. “It’s important that we keep everyone in the loop on our vision.”

Staples Center and the Nokia Theatre light
up the sky at AEG’s massive L.A. Live.

Leiweke can state that vision simply enough: “We are trying to become the dominant arena operator in the world.” You have to look deeper, though, to see just how much that statement includes. It’s more than physically owning and operating buildings. AEG does that now with 60 facilities, a number Leiweke expects will grow to more than 100 next year.

To AEG, operating facilities means making sure that they make money. To do that, you have to get people into the buildings. And to do that, you have to offer something worth buying a ticket for.

That’s why AEG has bought sports teams and rodeo tours, and started a live entertainment division that is now the second largest in the world, behind only Live Nation. “We’ll sell more than a billion dollars worth of tickets this year,” Leiweke said. “And we’ll sell more than $2 billion next year.”

It’s also why AEG is building a city within a city in downtown Los Angeles, and why it took the unlikely step of creating an entertainment district under the massive tent in London that used to be called the Millennium Dome.

Building entertainment villages is part of what Leiweke believes is the dominant sports business theme of the 21st century. In the 1970s and early ’80s, he said, sports was driven by ticket sales. Later in the ’80s, television money became vital, and in the ’90s, amid a building boom, premium seats and suites became a huge part of the business.

“Now, when you look at what sustains growth, it’s about development around the arenas,” he said. “Entertainment districts are huge.”

The big idea

When Leiweke arrived in Los Angeles in 1995, it was to take over as president of an NHL team that didn’t seem to have much going for it.

“We were losing tens of millions,” he said. “We were in last place. And we had just traded Wayne Gretzky. My timing was impeccable.”

The Los Angeles Kings were averaging fewer than 10,000 fans a game and playing in the old Los Angeles Forum, which lacked the amenities of newer arenas. But Leiweke had a history of doing a lot with a little.

In the mid-’80s, he turned an expansion indoor soccer team, the Kansas City Comets, into an attraction that routinely outdrew its major league competition. “He was doing things with the Comets to get people in seats that nobody had ever done before,” said Herb Kohn, a Kansas City lawyer and civic leader who was part owner of the team, which folded in 1991. “There were promotions, there was entertainment … you never knew what to expect.”

In Los Angeles, though, Leiweke’s goals went far beyond just boosting attendance for the hockey team. His new boss was Denver billionaire Phil Anschutz, who Leiweke had met during several years in Denver spent running the NBA Nuggets, a stint that included work on the Pepsi Center and its surrounding development. Anschutz told Leiweke, “Let’s do in Los Angeles the same thing that was done in Denver.”

ESPN is building a $100 million West Coast
broadcast center, above, at L.A. Live.

So Leiweke, after arriving in the summer of 1995, started working on a multipronged plan. “By September,” he said, “we had a vision for how we were going to grow the hockey team, get a new arena built and create a company that would be in the content business for that arena.”

As the pieces started coming together for the arena, the plan grew to encompass a large part of downtown. Leiweke, himself credited by many in the industry as being visionary, credits Anschutz with supplying the big ideas that led to L.A. Live and most subsequent developments. Though, especially in recent years, Anschutz’s day-to-day involvement has lessened as his business interests have expanded, Leiweke said Anschutz not only still keeps up with the details of the business, but supplies nonstop ideas for where to take it next.

“I’ve got the best brain around in Phil,” Leiweke said. “A lot of ideas can come out of just a little time with him. He’s one-stop shopping.”

Thus was created the seed for the company that would become AEG, and the signature property that would become L.A. Live.

Taking over downtown

There were few places in Los Angeles more in need of development than the downtown area near the lonely convention center.

“It was full of one-hour hotel rooms and crack houses,” Leiweke said. “We had a convention center, and then right across the street, buildings, and even city blocks, that were abandoned. It was an ugly part of town.”

But some of the very qualities that made downtown Los Angeles so displeasing to the eye helped make it an attractive site for development. City leaders were desperate to see something happen that would make the area around the convention center more vibrant, so much so that they worked with AEG at an almost unprecedented level, forming a development district that eventually helped the company acquire almost 30 acres of property adjacent to the Staples Center, and giving AEG control over the land.

Building Staples Center, which cost $400 million and opened in October 1999, turned out to be the easy part. It was the broader plan for L.A. Live, developed over the next two years, that was beset by obstacles, not least of which was a coalition of 37 community groups concerned about everything from job training and local hiring to open spaces, day care centers and affordable housing.

“We realized the only way we could get this all approved was to make these kinds of deals,” said Ted Tanner, a former Philadelphia city planner who joined AEG in 1998 as executive vice president for real estate development, “so we hammered out what I think was a fair agreement addressing all of these concerns. The milestone to conclude that process was September of 2001, just before 9/11, when we got unanimous City Council approval for a 4-million-square-foot development.”

The city did more than approve the plan. It participated in it.

“They helped acquire land, and stripped it of development rights, until we had 27 1/2 acres,” Tanner said. “We owned it all at one point, but now we’ve sold off more than half of it, about 19 properties.”

Because of the control that AEG had over the land, when it sold property around Staples Center for retail, hotel and residential developments, it was able to include covenants giving it the right to approve construction designs, an attempt to maintain a coherent vision throughout the project.

“That was a tough pill for people to swallow,” Tanner said. “Some didn’t, and they went away.”

Developers of the land that AEG sold have plans to produce about 2,700 housing units, of which about a third are complete, as well as 250,000 square feet of retail space and “other uses that are part of the vision to create a viable downtown neighborhood,” Tanner said.

Landing what city leaders called a “headquarters hotel,”
shown at left in the rendering above, was one of the
most important goals for AEG in the development
of L.A. Live.

The biggest hope that the city pinned on AEG was that it would bring in a headquarters hotel, a 1,000-room marquee property that would give consumers of conventions, concerts and sports events an attractive place to sleep and a reason to stay downtown.

The hotel is the first part of the $2.5 billion L.A. Live project that comes to mind when you ask Leiweke about the challenges AEG faced in Los Angeles.

“There’s not a damn thing at L.A. Live that hasn’t died a slow death on many occasions,” he said, “and with the hotel, it’s happened on a daily basis.”

A potential deal with Hilton hotels was scuttled a couple of years ago when the rising price of steel and other materials scared off a developer who was going to be part of the deal. Then Anschutz stepped in, inviting Bill Marriott, chairman of Marriott Corp., to take a look at land and the plans.

“[Anschutz] deserves a lot of credit,” Leiweke said. “We were struggling to find the right partner, and he was able to arrange that meeting. To Bill’s credit, it was at that meeting where he said, ‘I love this. I want to do this.’”

A little over two weeks ago, on a Saturday at 1 a.m., 500 trucks brought in loads of cement and began pouring the foundation for what will be a J.W. Marriott hotel topped by 224 Ritz Carlton-branded condominiums. The very next weekend, 700 more trucks rolled in, bringing in 700,000 more cubic feet of cement.

“The hotel is going to be probably the most important and iconic project we’ve ever done,” Leiweke said.

But perhaps, at least when it comes to L.A. Live, not the most surprising. That honor likely goes to ESPN, which in September 2008 will open a $100 million West Coast broadcast center that looks out over the plaza that is one of the signature elements of L.A. Live.

“Getting ESPN was a dream,” Leiweke said. “Two or three years ago, if you had talked about getting them to even think about the idea of creating another headquarters and studios outside of Bristol (Conn.), people would think you were crazy.”

In 2004, at the Winter X Games in Aspen, Colo., Leiweke cornered ESPN President George Bodenheimer to do a little friendly arm-twisting. “You’ve got to be in L.A.,” Leiweke said. “We are the entertainment capital of the world.”

As it turns out, the idea wasn’t completely foreign to ESPN. Network executives had talked before among themselves about building a production facility somewhere besides Bristol and, in particular, on the West Coast.

Now, though, Leiweke was offering prime space overlooking a colorful public plaza in a development that was going to remake downtown Los Angeles.

“George bought into it very quickly,” Leiweke said, “but it took a long time to get the business development guys at Disney to buy into it. There were people at Disney who didn’t believe in it. It had to go all the way to the board of directors, and the board had to sign off on the tens and tens of millions of dollars that it would take.”

The five-story building that will house ESPN will have an ESPN Zone restaurant on the first floor and part of the second, while the rest will be studio and broadcast space.

“Since we don’t yet know what shows we’ll do there, we decided to design and construct the broadcast facility to fit any show that we do,” said Bob Eaton, ESPN senior vice president and managing editor. “We’re very excited about it. It’s not very often in this day and age that you get to build a broadcast facility from scratch.”

‘Content campus’

A couple of months before the Eagles embarked on a tour supporting their first original album in 18 years, Glenn Frey, who with Don Henley founded the band in 1971, did a walk-through of L.A. Live that ended in the Nokia Theatre, the high-tech live concert centerpiece of the development.

“We all think the Nokia Theatre is very impressive,” Leiweke said, “and when we walked Glenn Frey through it, he just stopped and said, ‘Oh my god!’”

That’s close to the reaction Nokia had when AEG executives approached the company three years ago about putting its name on the theater.

Nokia executives thought they were going to talk about putting their company’s name on AEG’s concert venue in Dallas.

“But when they sat us down,” said Janet Allen, Nokia’s chief marketing officer, “it turned into, ‘Hey, let’s not just talk about that.’”

Instead, AEG laid out its plans for music at L.A. Live.

“With all due respect to Nashville, we are redefining music city,” Leiweke said. “If you look at what we’re doing at the club, at the theater, at the 400-plus nights of music per year that are going to emanate from that campus, at how it’s wired everywhere for high def and digital, and how we’ve built a $30 million recording studio, you’re going to step back and say, ‘I get what these guys are up to. It’s going to be a content campus.’

“That’s what we were saying 10 years ago, but I think people are just now looking at it and realizing what we meant.”

Nokia realized it enough that it not only put its name on AEG theaters in Dallas, New York and Los Angeles, it spent an extra $3 million of its own money enhancing the digital capabilities of the Los Angeles theater.

“With the opening of the theater in L.A., we were able to use our technology to its fullest potential,” said Allen, who was part of the team from Nokia that worked on the design of the theater. “That includes everything from simple demos of new products to sending messages and other offerings and content to people when they simply turn on their Bluetooth devices. AEG has worked with us to build a really great consumer experience.”

L.A. Live will essentially end up covering about 6 million square feet of development. Three million of that is AEG’s, while the rest is on surrounding property. The dollar figure most often talked about related to AEG is $2.5 billion. That includes about $400 million for the Staples Center, roughly $950 million for the hotel, and the rest for Nokia Theatre and other parts of L.A. Live. Tanner estimates that another $2 billion will be spent on housing and other retail development in the area.

Throughout the development, you’ll see a similarity of design, Tanner said.

“We wanted it to feel like it was part of something new and different,” he said. “We care about building with function in mind. We’ve got to make our buildings work. The ability to have multiple shows and a high frequency of events is very important to us. What’s unique about our company is that we’re willing to make a significant investment and build great venues, but at the end of the day it’s always about content.”

Tony Ponturo, vice president of global media and sports marketing for Anheuser-Busch, has watched the development of L.A. Live for almost a decade, ever since he went to Los Angeles to meet with Anschutz about being the beer sponsor of the Staples Center. The relationship between the two companies has become stronger over the years, particularly as AEG invested heavily in soccer. Anheuser-Busch is a founding sponsor of Major League Soccer, going back to 1996.

“L.A. Live is an attractive project,” he said. “It’s great for AEG, and it’s a great asset for downtown Los Angeles. One of the things clear to us was that Phil Anschutz understood it as a real estate play, how you develop downtown, and how you create reasons for people to come downtown.”

Just how attractive L.A. Live is to Ponturo is still being determined. On the list of founding partners that have signed on for L.A. Live — Toyota, Coke, Olevia, Wachovia, Target and American Express — a beer partner is conspicuously absent. Anheuser-Busch and AEG are working on “something big” relative to L.A. Live, Ponturo said, “but we’re still in negotiation, so I can’t go too far with that.”

Covering new ground

Leiweke got a taste of what Londoners thought about the Millennium Dome the very first time he tried to visit the place in 2001.

Stepping out of his hotel in the Mayfair district in central London, he hailed one of the city’s famous black cabs, whose drivers pride themselves on knowing how to get anywhere.

The taxi pulled away from the curb, and the driver said, “Where to, mate?”

“The dome,” Leiweke said.

The cabbie hit the brakes, pulled over to the curb and said, disdainfully, “I don’t go down there.”

Leiweke had better luck on his next try, but that first experience might have helped shape his initial opinion of the 18-acre dome that was sitting unused in East London. He didn’t like it any more than that first cabbie did.

“I think opinions were shaped by the image of the place,” Leiweke said. “It had such a black cloud over it. The media in London tends to find a whipping boy and stick with him, and the whipping boy was the dome and the government and the money they had invested.”

Company officials overcame some early reservations
about London’s Millennium Dome to transform
the site into The O2.

Harvey Goldsmith, the legendary rock music promoter who organized the Live Aid and Live 8 concerts in London, said the dome’s reputation was unfairly earned.

Goldsmith was a director of the London Tourist Board in the mid-’90s when the city was looking for a splashy project that would boost tourism and celebrate the new millennium. It transformed a former industrial site into a massive domed exhibition hall that included exhibits of science and history, as well as a stage show written and produced by singer Peter Gabriel.

From Jan. 1 to Dec. 31 of 2000, the Millennium Dome drew more than 6 million people. Unfortunately, Goldsmith said, the accountants had predicted 12 million visitors. The project was deemed a failure, a reputation that stuck with the land and building even after the exhibition was closed at the end of the year.

Not long after that, Goldsmith was again dispensing advice, this time to developers who wanted to acquire land around the dome to put up office, retail and residential space. The catch was, they would have to take the dome, as well, and they didn’t know what to do with it.

“You can’t look at it as an empty building,” Goldsmith told them. “If you consider it to be a building, it won’t work. You have to look at the dome as an umbrella, with a large, weatherproof area under it where you can do anything.”

And this, Goldsmith said, is where fate stepped in.

By sheer coincidence, he said, Anschutz and Leiweke came to London amid all of those discussions, looking for their own base of operations in the city.

“They were considering buying Wembley Stadium, but that didn’t work out,” Goldsmith said. “I was introduced to them, and I took them to see the dome and laid out my theory. They said, ‘This place doesn’t work,’ and that was it.”

Leiweke said he began to change his mind when he started to understand not only what could be done in the dome, but how to use its location.

“I took a cab down here the first time and didn’t fall in love with it,” he said, “and then the second time I took the tube down here and fell instantly in love with it. The tube was the key. Once you understand that tube and what a great form of transportation that is, then you begin to understand The O2. You can get here by boat, you can get here by car, you can get here by bus, but you can really get here by tube.”

It took Leiweke 20 minutes and a cheap subway fare to get from central London to the dock area where the dome sits beside the River Thames.

“I suddenly realized, my god, this place is attached to all of the 8 1/2 million people who live here,” he said. “Then if you look at City Airport, which is right down the street, you realize there’s 365 million people within two hours of The O2.”

Six weeks after Goldsmith had taken him to see the dome for the first time, Leiweke called him back.

“We thought about it again,” Leiweke said. “What do we do now?”

Understanding the vision

Tim Romani’s first reaction when he went to see The O2 in 2001 was to look at Leiweke and say, “You want to build an arena in here?”

Romani is CEO of Icon Venue Group, a joint venture he has with AEG that manages the construction of AEG venues. The dome was big, he thought, but not big enough to get a construction crane into. Building an arena under Goldsmith’s “umbrella” would be like building a ship in a bottle.

“I thought there was a certain level of insanity that must be at work to consider this project,” Romani said. “In reality, there was a vision so grand and so bold that it escaped me.”

Most AEG construction projects take about two months of planning before work begins in earnest. The O2 took two years.

“We started the design in 2003, broke ground in 2005 and opened in 2007,” Romani said. “There was a lot more to this than there usually is.”

Published reports put the price tag of AEG’s development of The O2, so named earlier this year after telecommunications company O2 signed a $12 million a year naming rights deal, at $1.2 billion. The government originally paid about $1.5 billion to build it.

“They essentially gave us the dome for free and took a percentage of our upside,” said Leiweke. “As it turns out, they’re going to do quite well with that deal. They’re going to make all the 800 million pounds that they have in this piece of dirt back over a 20- to 30-year period.”

When Goldsmith looks now at The O2, he sees a project that went beyond even his wildest dreams.

“What they’ve done is build a town under cover,” he said. “Most arenas are in isolation. You go to an event, and when it’s over, you’re out of there, because there’s nothing else to do. When you go to The O2, you can see an exhibition, go to a movie, have lunch, see a show, go to dinner and have a drink without ever leaving the place.”

On Saturday, Sept. 29, a couple of hours before two NHL teams would open their regular seasons in The O2 Arena, Leiweke was walking down Entertainment Boulevard, a brick-lined street that follows the perimeter of the arena and is lined with restaurant after restaurant. There are no downscale chains here. McDonald’s tried to get in, but was turned away.

Leiweke, tall and solidly built and dressed in a well-fitted dark suit with a green tie, looked only slightly out of place as he weaved through a crowd wearing hockey jerseys that touted teams from as far away as the U.S. and Russia. “Those 365 million people within two hours,” he said, “you’re seeing it today.”

Steve Knibbs, COO of Vue Entertainment, said The O2 so far has lived up to its promises. Vue built an 11-screen movie theater under the umbrella, including the largest screen in Europe in a room that seats 750.

“We were interested in the project for a long time,” Knibbs said. “You had to do something out there that was bold and visionary — something half-baked wouldn’t get people’s attention. Of course it was a risk, but the big thing it had going for it right from the start was a world-class arena at the center of it. We knew that if you could do this arena and book the big acts, then people would come there.”

AEG’s global facilities push includes a new
16,000-seat, $250 million arena in Berlin,
The O2 World, that will open next year.

Leiweke is pleased with what his company has wrought, not only the development itself, but how it has changed the perceptions of people in London.

“The government will get back the money it spent here based on its percentage of upside from us,” Leiweke said. “After we opened, one of the papers said: Why didn’t we do this in the first place? My theory on that is, I’m really happy you didn’t, because otherwise we’d probably be just attending a hockey game in London, instead of promoting a hockey game in London.”

The fact that AEG was promoting NHL games in London takes you right back to the company’s basic philosophy: Content is king.

Getting two NHL teams into the venue for regular-season games was a project two years in the making. It helped that AEG owned a team, but it helped even more that the company believed that it could make the weekend worthwhile for a league that wants to expand its international awareness.

“The economics of the event were sufficient to support the economic needs of the two clubs involved,” said NHL Deputy Commissioner Bill Daly, who visited The O2 to check out the “ambitious project” before the NHL committed to the weekend. “Certainly, AEG made sure that was the case.”

That confidence in AEG’s approach is reflected in Kansas City, as well, where the company just opened the Sprint Center, an arena built with $53 million of AEG money and $223 million from the city.

Two weeks ago, Leiweke and a half-dozen other AEG executives flew in for the first of eight concerts that country music star Garth Brooks, who has been in semi-retirement for years, was giving as one of the building’s opening acts.

“I think what has happened with bookings fully represents what AEG is capable of,” said Kay Barnes, the former Kansas City mayor, now a congressional candidate there, who was instrumental in getting Sprint Center built. “There has been a real stir in the Midwest for not only getting Garth Brooks to make his comeback in the Sprint Center, but to do eight concerts one night after the other. When tickets went on sale, he was on the phone, and when the first concert sold out in a matter of minutes, he said, ‘OK, I’ll do another one,’ and when that one sold out in a matter of minutes, he did it again, and again. AEG is responsible for that, and I have every confidence that they will be able to keep that kind of success going.”

Added attorney and civic leader Kohn, “Kansas City has been overlooked by many touring groups. With AEG, we will not be overlooked any longer.”

Dealing for Beckham

For all of its boldness, opening The O2 wasn’t AEG’s biggest headline-grabbing move of 2007.

That came with English soccer star David Beckham’s arrival on the West Coast to play for the AEG-owned Los Angeles Galaxy in the AEG-owned Home Depot Center.

Though there’s been plenty of debate in the media over how much of a success Beckham’s first year really was, soccer insiders have no doubts about it.

“The financial commitment that AEG made to bring Beckham to the Galaxy and Major League Soccer was a watershed moment,” said Clark Hunt, chairman of Hunt Sports Group. “It really moved the league forward. Like a lot of AEG’s ideas, it was outside the box, but it was exactly what was needed at the time.”

Jonathan Kraft, Kraft Group president and COO, said that bringing Beckham to America was a logical next step for AEG, which supported MLS by owning six teams earlier this decade, then built a world-class facility that needed a world-class star.

“When they built the Home Depot Center, they didn’t just build a bare-bones stadium,” Kraft said. “They built what is really a smaller version of a full-blown NFL stadium, for a sport that hadn’t yet achieved that level of acceptance.

“When they brought in David Beckham, they also had bigger plans. They said, ‘We have a unique idea that will work for David Beckham the player, David Beckham the brand, for MLS and for AEG, and create opportunities so that one plus one plus one equals five instead of three.”

It’s the same aggressiveness AEG showed when it “went out and attacked the concert business,” Kraft said. “They went directly after Live Nation when most people thought Live Nation had a monopoly and could use its power to keep everyone else out. AEG just went out and did it, the same way they do everything else.”

MLS Commissioner Don Garber, evaluating not only AEG’s year in soccer, but it’s overall sports operation, said, “AEG is probably the smartest, most ambitious sports and entertainment company in the world. They have an insatiable appetite for acquiring content.”

Peter Luukko, president of Comcast Spectacor, which owns facilities that both compete with AEG and book AEG acts, said Leiweke is “probably one of the best salespeople I’ve ever met.”

“Some days I think he’s never met a deal he doesn’t like,” Luukko said. “But they definitely have had some vision, and they’ve made the most of being in Los Angeles, the entertainment capital of the world.”

Luukko said that AEG, like his own company, has to be cautious about trying to be all things to all people. Still, he added, it’s a competitive industry. “In many ways they’ve gone out and bought the business,” he said. “But that’s OK. You have to be aggressive, and they have been.”

Seeking next opportunity

Deep in the bowels of The O2, there’s a luxurious bar at which relatively few people will ever get a drink. It has a marble fireplace, a small dining room with a heavy wooden table, and a few plush sofas and chairs, one of which Leiweke was sitting in before the start of the second NHL game of the opening weekend. NHL Commissioner Gary Bettman had just left the room, and Phil Anschutz was due to arrive at any moment.

Leiweke, asked whether Anschutz had given his evaluation of the weekend, said, “Phil and I tend to not linger on success. We look for the next opportunity.”

Leiweke has a long list of things he’s looking for. Another sponsor or two at L.A. Live. Teams for the building AEG just opened in Kansas City, and the one it’s going to build in Las Vegas. Events to fill dates at The O2 World, the new arena that will open next year in Berlin.

And, especially, new ideas.

AEG is working on designs for a project in Shanghai that will build on ideas it has already put to work in Los Angeles and London. The Chinese government has sent several groups to London to see The O2, and Leiweke said they seemed quite enamored of the way that entertainment, sports and arenas can work together. The premise, as exemplified at The O2, is simple. AEG wants to use its content to attract people to a building, then give them plenty of other options — restaurants, exhibits, movie theaters — that not only will keep them there longer, but bring them back even if they aren’t going to an event in the arena.

“We’ve learned that entertainment districts and arenas go hand in hand,” said Leiweke, waving a hand toward that vast development outside this little room. “But I think as much as this is the future, there is another future, and there will always be another future, and so I don’t want us to rest on our laurels and think that we have the magic potion. This is not the fairy dust, but I think this is clearly a step into the future, and a step into redefining our industry.

“We will use what we learned here to do even better next time.”

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