Dave Portnoy is the founder and CEO of Barstool Sports, it’s a sports bro website that has podcasts and t-shirts and events (high-level)
Its been around for a while, about 15+ years, but have been expanding more and more with podcasts and merchandise. They recently sold a big chunk of their business to Penn National Gaming to open up sportsbooks under the Barstool brand in their casinos as sports gambling becomes legalized at the state level. They have a pretty vast audience that will be valuable to acquire.
Ok, here’s COVID, there are no sports, everything is canceled. What does Barstool do?
Dave Portnoy is now worth like $100M and takes $3M and starts day trading with it. He live streams it, his content production machine produces memes and short videos, that are so meathead and ridiculous they are hilarious.
He talks trash about other people, Warren Buffet, does frozen pizza reviews, just a great self-promoter.
Meanwhile, without sports there seems to be a spike in retail day traders that are buying the airlines, cruise ships, bankrupt companies like Hertz and people are wondering if its because of Dave Portnoy, People are bored at home, Zero commision trading.
So, going from no sports, shelter in place, a merger with a casino company that tanked 75% during March/April to Day Trading, live streaming it, and having Forbes, CNBC, Bloomberg, Viral Videos, all talking about him.
And oh yeah, one of the podcasts Barstool owns had some drama over the hosts trying to leave to get a better deal, was opening played out over social media and mocked one of the hosts boyfriends that was in their ear to get out of the barstool deal.