00:00Josh Kushner made an early bet on OpenAI. Now he's buying the LA Lakers for $12.5 billion
00:05with Bob Iger. Kushner's portfolio is stacked. He founded Thrive Capital back in 2011 when he
00:12was just 26 years old. And since then, his firm has backed some of the most notable startups of
00:17the past decade, including Instagram, Spotify, and OpenAI. Kushner told Fortune in 2024 that
00:23his decision to back OpenAI, even when founder Sam Allman warned him it was anything but a sure bet,
00:29was because he believed in the person running the company and had a gut instinct OpenAI would stand
00:35the test of time. Our view is there's going to be multiple winners in this space, but our belief is
00:39that OpenAI is going to be one of those and we feel very lucky to be partnered with them. Allman
00:44previously told Fortune that Kushner is known for his high conviction bets on high quality companies
00:49and founders, and he doesn't care too much about what other investors think. Now Kushner's bid with
00:55Disney's former CEO to purchase the Lakers is pending approval from the NBA's Board of Governors,
01:01but if it goes through, it would mark the largest sale price for a professional sports team in U.S.
01:06history.
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