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[solemn music]
2
00:00:08,140 --> 00:00:09,220
♪ ♪
3
00:00:30,170 --> 00:00:32,120
[line trills]
4
00:00:40,070 --> 00:00:41,110
- Okay.
5
00:00:51,170 --> 00:00:53,130
- Shut down because
of the coronavirus.
6
00:00:53,149 --> 00:00:56,999
We're the last production shut
down in the world, I think.
7
00:00:57,020 --> 00:01:01,040
Uh, so we're all gonna go home
and quarantine,
8
00:01:01,060 --> 00:01:02,170
make sure we're all good,
9
00:01:02,189 --> 00:01:04,219
and then come back about,
10
00:01:05,000 --> 00:01:08,050
I don't know,
maybe four, six weeks,
11
00:01:08,069 --> 00:01:09,229
continue shooting.
12
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But we must go home now.
13
00:01:14,010 --> 00:01:15,050
[paint can rattles]
14
00:01:15,069 --> 00:01:18,049
[dramatic music]
15
00:01:18,069 --> 00:01:25,119
♪ ♪
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[line trilling]
17
00:01:36,140 --> 00:01:38,040
Um...
18
00:01:38,060 --> 00:01:39,080
it's, uh--it's crazy.
19
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I've never seen this before
20
00:01:40,170 --> 00:01:42,070
in my lifetime,
21
00:01:42,090 --> 00:01:44,190
you know, the level
of uncertainty, you know?
22
00:01:46,109 --> 00:01:48,099
We're all just praying that,
you know,
23
00:01:48,120 --> 00:01:51,020
we get back to normal,
or is this our new normal?
24
00:01:51,039 --> 00:01:53,079
Who knows?
25
00:01:53,099 --> 00:01:56,059
Yeah, and it's just,
like, craziness.
26
00:01:56,079 --> 00:01:58,039
Absolute craziness.
27
00:02:00,060 --> 00:02:02,000
Uh, I was a day away
28
00:02:02,019 --> 00:02:03,159
from starting shooting
"Uncharted."
29
00:02:03,180 --> 00:02:05,110
The head of the studio called
and said,
30
00:02:05,129 --> 00:02:07,169
"We're shutting down,"
31
00:02:07,189 --> 00:02:09,189
so everything's in limbo.
32
00:02:09,210 --> 00:02:11,130
And then, trying
to keep my kids
33
00:02:11,150 --> 00:02:13,110
from going stir-crazy
with boredom
34
00:02:13,129 --> 00:02:15,079
and keeping them
on their studying,
35
00:02:15,099 --> 00:02:17,219
their Zoom meetings
at school, but, you know,
36
00:02:18,000 --> 00:02:19,190
my son had to spend
his birthday indoors
37
00:02:19,210 --> 00:02:22,050
and can't see friends.
38
00:02:22,069 --> 00:02:25,009
It's, uh...been crazy.
39
00:02:26,199 --> 00:02:28,009
So when I heard yesterday
40
00:02:28,030 --> 00:02:29,170
that the quarantine was
gonna go
41
00:02:29,189 --> 00:02:31,059
from what they thought
would be Easter
42
00:02:31,079 --> 00:02:32,129
to at least the end
of the month,
43
00:02:32,150 --> 00:02:33,170
I set up a team with my wife.
44
00:02:33,189 --> 00:02:34,219
I said, "These are things
45
00:02:35,000 --> 00:02:36,080
"that are out of our control.
46
00:02:36,099 --> 00:02:37,129
"Let's just focus on
the things
47
00:02:37,150 --> 00:02:39,050
that we have control over."
48
00:02:39,069 --> 00:02:40,209
You know, we should be trying
to lend a hand
49
00:02:40,229 --> 00:02:42,029
where needed for people
50
00:02:42,050 --> 00:02:43,110
being affected financially,
51
00:02:43,129 --> 00:02:46,029
their health,
so we're feeding
52
00:02:46,050 --> 00:02:47,140
doctors and nurses,
and giving people
53
00:02:47,159 --> 00:02:49,019
everything
that they need.
54
00:02:49,039 --> 00:02:51,099
A big thank you to all
of our first responders.
55
00:02:51,120 --> 00:02:53,180
You know, it really puts things
in perspective,
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00:02:53,199 --> 00:02:55,049
though, about what's important.
57
00:02:55,069 --> 00:02:57,219
Make for some quality time
with your family.
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00:02:58,000 --> 00:02:59,130
So that's what we're doing.
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00:02:59,150 --> 00:03:02,060
♪ Everything is going crazy ♪
60
00:03:02,080 --> 00:03:03,180
The good of it all is that
61
00:03:03,199 --> 00:03:05,189
we're spending
so much quality time.
62
00:03:05,210 --> 00:03:07,190
A little bug! Ah, help!
63
00:03:07,210 --> 00:03:09,100
- Hi.
- Sorry about that. Hi.
64
00:03:09,120 --> 00:03:11,080
- Ooh, it sounds like
you need nails and makeup.
65
00:03:11,099 --> 00:03:12,999
- Makeup and nails?
- Mm-hmm.
66
00:03:13,020 --> 00:03:16,020
- I don't even like
doing makeup in the movie.
67
00:03:16,039 --> 00:03:17,189
Okay, so quarantine now.
68
00:03:17,210 --> 00:03:19,100
I'm getting pedicures,
manicures,
69
00:03:19,120 --> 00:03:20,160
and apparently full makeup.
70
00:03:20,180 --> 00:03:23,030
She's got her whole kit there.
71
00:03:23,050 --> 00:03:26,000
And yeah, this is
what's happening now.
72
00:03:29,120 --> 00:03:32,100
[eerie music]
73
00:03:32,120 --> 00:03:35,170
♪ ♪
74
00:03:35,189 --> 00:03:39,189
[line trilling]
75
00:03:39,210 --> 00:03:41,000
Harry.
76
00:03:41,020 --> 00:03:42,090
- Can you see me?
77
00:03:42,110 --> 00:03:43,150
- Ryan.
78
00:03:43,170 --> 00:03:45,030
- Hey.
How are you?
79
00:03:45,050 --> 00:03:47,120
- How are you doing?
- Just wanted to check in.
80
00:03:47,139 --> 00:03:48,209
- During this pandemic.
81
00:03:48,229 --> 00:03:50,149
I think the best advice
I can give is,
82
00:03:50,170 --> 00:03:53,060
like, to stay connected to
your people as much as you can.
83
00:03:53,079 --> 00:03:54,199
Checking on each other,
84
00:03:54,219 --> 00:03:56,089
making sure everybody's
doing okay.
85
00:03:56,110 --> 00:03:58,060
You know, those kinds
of empathetic messages
86
00:03:58,079 --> 00:03:59,149
is really the key.
87
00:03:59,170 --> 00:04:01,140
- Hey.
How's it going?
88
00:04:01,159 --> 00:04:03,189
- I just wanted
to check in with you.
89
00:04:03,210 --> 00:04:05,100
Hey, buddy.
90
00:04:05,120 --> 00:04:07,110
- Hi.
What are we doing here?
91
00:04:07,129 --> 00:04:09,059
- Let's talk Wahlburgers first.
92
00:04:09,080 --> 00:04:12,130
How many of our stores
are open?
93
00:04:13,099 --> 00:04:14,069
- None.
94
00:04:14,090 --> 00:04:15,210
[tense music]
95
00:04:15,229 --> 00:04:18,109
- Can you give me a little
update on where we are?
96
00:04:18,129 --> 00:04:22,099
- We're having significant
supply chain challenges now
97
00:04:22,120 --> 00:04:26,120
with both of the U.S. suppliers
that we have.
98
00:04:26,139 --> 00:04:28,019
Both are under quarantine.
99
00:04:28,040 --> 00:04:30,120
There's no one working
for at least 30 days,
100
00:04:30,139 --> 00:04:32,999
and that creates
a pretty significant
101
00:04:33,019 --> 00:04:34,999
liquidity crisis for us.
102
00:04:38,000 --> 00:04:39,080
- So how is everybody
holding up?
103
00:04:39,100 --> 00:04:41,080
How are all the employees
and everybody?
104
00:04:41,100 --> 00:04:44,010
- In terms of the studios that
we actually own and operate,
105
00:04:44,029 --> 00:04:46,199
you know, we've had to suspend
all operations right now.
106
00:04:46,220 --> 00:04:48,090
- Wow.
107
00:04:48,110 --> 00:04:50,190
- So we just pumped
the brakes on everything.
108
00:04:50,209 --> 00:04:53,039
- So we really gotta do
some hard thinking here
109
00:04:53,060 --> 00:04:56,050
and take a long, hard look
at what stores are,
110
00:04:56,069 --> 00:04:57,199
uh,
111
00:04:57,220 --> 00:04:59,120
you know, gonna be able
to rebound,
112
00:04:59,139 --> 00:05:01,099
and what stores aren't.
113
00:05:01,120 --> 00:05:03,150
This has been a very, very
114
00:05:03,170 --> 00:05:05,100
difficult day.
115
00:05:05,120 --> 00:05:07,120
A lot going on...
116
00:05:09,009 --> 00:05:11,009
- What we're going right now
is,
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00:05:11,029 --> 00:05:12,169
we're engaging landlords
118
00:05:12,189 --> 00:05:14,209
to talk about rent suspension
or deferments.
119
00:05:14,230 --> 00:05:18,130
We're just basically trying to
reduce the overhead right now.
120
00:05:18,149 --> 00:05:20,109
- Everybody's scared,
121
00:05:20,129 --> 00:05:23,159
and it's really creating
a ton of stress
122
00:05:23,180 --> 00:05:25,120
beyond just
the business stress,
123
00:05:25,139 --> 00:05:27,029
worried about people's safety.
124
00:05:27,050 --> 00:05:29,050
You know, those people
are counting on us.
125
00:05:30,199 --> 00:05:32,209
- [blows raspberry]
126
00:05:32,230 --> 00:05:34,090
I'm a little down.
127
00:05:34,110 --> 00:05:36,130
I had an hour and a half
of, like,
128
00:05:36,149 --> 00:05:38,199
happiness and joy,
cutting up and laughing,
129
00:05:38,220 --> 00:05:40,080
and then, you know,
the rest of the day,
130
00:05:40,100 --> 00:05:41,140
just kind of down
and depressed.
131
00:05:41,159 --> 00:05:42,159
And it's just hard, you know?
132
00:05:42,180 --> 00:05:44,020
You get down, no matter--
133
00:05:44,040 --> 00:05:45,190
all the other stuff
doesn't matter, right?
134
00:05:45,209 --> 00:05:47,029
- Yeah.
- All the success,
135
00:05:47,050 --> 00:05:48,140
everything else,
you know what I mean?
136
00:05:48,159 --> 00:05:51,009
It's like not having
the ability
137
00:05:51,029 --> 00:05:53,069
to stay strong physically,
138
00:05:53,090 --> 00:05:55,170
and especially mentally.
139
00:05:55,189 --> 00:05:56,209
- Yeah...
140
00:05:56,230 --> 00:05:58,210
- Right, Wallie?
- Yeah.
141
00:05:58,230 --> 00:06:00,050
- Are you depressed?
- Yeah.
142
00:06:00,069 --> 00:06:02,059
- You understand
what he's saying, right?
143
00:06:02,079 --> 00:06:05,069
- I've usually been, uh,
144
00:06:05,089 --> 00:06:06,129
pretty positive,
145
00:06:06,149 --> 00:06:08,139
kind of, you know,
optimistic guy,
146
00:06:08,160 --> 00:06:10,180
and, you know, certainly doubt,
147
00:06:10,199 --> 00:06:12,149
and fear,
and all of those things
148
00:06:12,170 --> 00:06:14,100
have come into play.
149
00:06:14,120 --> 00:06:17,080
I mean, whatever was happening
with Wahlburgers
150
00:06:17,100 --> 00:06:18,180
was happening with F45,
151
00:06:18,199 --> 00:06:20,219
which was happening
with Municipal.
152
00:06:21,000 --> 00:06:23,010
You know, it's--
I mean, there's so much.
153
00:06:23,029 --> 00:06:24,069
I'm, like, really right now
154
00:06:24,089 --> 00:06:26,209
just kind of at a loss
for words.
155
00:06:26,230 --> 00:06:28,110
It's hard 'cause,
I mean, even like me,
156
00:06:28,129 --> 00:06:30,189
I'm just down some days,
157
00:06:30,209 --> 00:06:32,129
and depressed,
and feeling like, God,
158
00:06:32,149 --> 00:06:34,069
I don't know,
when is this gonna end?
159
00:06:34,090 --> 00:06:35,210
- Yeah.
- And then, I have you guys
160
00:06:35,230 --> 00:06:38,130
out there working
every single day.
161
00:06:38,149 --> 00:06:40,049
I really got
to stop complaining.
162
00:06:40,069 --> 00:06:42,109
You know, there's people
out there really having it bad.
163
00:06:42,129 --> 00:06:45,009
I just--and I'm, like,
a super positive person.
164
00:06:45,029 --> 00:06:46,159
I don't know.
It just all kind of got me.
165
00:06:46,180 --> 00:06:49,000
All this doom and gloom
just kind of got me down.
166
00:06:49,019 --> 00:06:50,119
It's gotten...
167
00:06:50,139 --> 00:06:52,109
It's gotten to me a little bit.
168
00:06:52,129 --> 00:06:53,229
- Part of it is just, yes,
169
00:06:54,009 --> 00:06:55,049
shit hit the fan,
170
00:06:55,069 --> 00:06:56,149
and how do we wanna
emerge from this?
171
00:06:56,170 --> 00:06:57,170
And how does the company
172
00:06:57,189 --> 00:06:59,029
want to grow through this?
173
00:06:59,050 --> 00:07:00,160
We're kind of thinking
futuristically
174
00:07:00,180 --> 00:07:03,020
as opposed to just right here
and right now.
175
00:07:03,040 --> 00:07:05,200
- A great entrepreneur
understands the value
176
00:07:05,220 --> 00:07:07,150
of hiring the right people
177
00:07:07,170 --> 00:07:09,200
who bring that
positive mindset
178
00:07:09,220 --> 00:07:13,040
so that they can lead you
through the crisis
179
00:07:13,060 --> 00:07:16,150
and enable you
to show up right,
180
00:07:16,170 --> 00:07:18,040
show up ready.
181
00:07:18,060 --> 00:07:20,120
- As long as
we keep our health,
182
00:07:20,139 --> 00:07:22,049
we'll get through this,
we'll be fine.
183
00:07:22,069 --> 00:07:23,149
- That's awesome.
184
00:07:23,170 --> 00:07:26,030
Well, you've given me
the pep talk that I need.
185
00:07:26,050 --> 00:07:29,000
All right.
Wallie, be nice to your sister.
186
00:07:29,019 --> 00:07:29,229
- You hear that?
187
00:07:30,009 --> 00:07:31,119
- Give Lucy a big hug.
188
00:07:31,139 --> 00:07:33,029
And no punch-punch.
189
00:07:33,050 --> 00:07:34,070
- [chuckles]
190
00:07:34,090 --> 00:07:35,200
- Okay?
191
00:07:35,220 --> 00:07:37,000
All right, buddy.
192
00:07:37,019 --> 00:07:38,109
Well, you know,
I don't say this
193
00:07:38,129 --> 00:07:39,159
as often as I should.
194
00:07:39,180 --> 00:07:40,210
I appreciate you.
I love you.
195
00:07:40,230 --> 00:07:41,200
- I love you too, man.
196
00:07:41,220 --> 00:07:42,220
Don't worry.
We all--
197
00:07:43,000 --> 00:07:44,020
we all got each other's backs
198
00:07:44,040 --> 00:07:45,050
on this one.
199
00:07:45,069 --> 00:07:46,089
And anything you need from me,
200
00:07:46,110 --> 00:07:47,190
let me know.
201
00:07:47,209 --> 00:07:50,089
Whatever it is, dude.
Always, 24/7.
202
00:07:50,110 --> 00:07:51,120
You know that.
203
00:07:51,139 --> 00:07:52,219
- Talking to the team today,
204
00:07:53,000 --> 00:07:54,030
you can't help but feel like,
205
00:07:54,050 --> 00:07:55,090
wow, this is fantastic.
206
00:07:55,110 --> 00:07:57,110
Despite all that was going on,
207
00:07:57,129 --> 00:07:59,129
they were actually still
very positive,
208
00:07:59,149 --> 00:08:02,109
so I was able to kind of pause
for a second
209
00:08:02,129 --> 00:08:04,049
and kind of think about
210
00:08:04,069 --> 00:08:05,189
what exactly I want to do
211
00:08:05,209 --> 00:08:08,199
or can plan to do now
moving forward.
212
00:08:14,139 --> 00:08:17,119
[tense music]
213
00:08:17,139 --> 00:08:22,049
♪ ♪
214
00:08:22,069 --> 00:08:24,059
Hey, I'm inviting everybody
215
00:08:24,079 --> 00:08:27,089
to come and work out with me
on Instagram.
216
00:08:27,110 --> 00:08:28,190
We're working out with Shannon.
217
00:08:28,209 --> 00:08:31,099
- We're gonna tune in
at 10:30, Pacific time,
218
00:08:31,120 --> 00:08:33,120
on F45's official Instagram.
219
00:08:33,139 --> 00:08:34,219
- Safe distance apart.
220
00:08:35,000 --> 00:08:36,060
We're gonna get after it.
221
00:08:36,080 --> 00:08:37,160
50 countries,
222
00:08:37,179 --> 00:08:40,199
1,500-somewhat studios
all shut down
223
00:08:40,220 --> 00:08:42,100
at the same time.
224
00:08:42,120 --> 00:08:45,180
People who had come so far
in their fitness journeys,
225
00:08:45,200 --> 00:08:47,140
and now, not being able
to go into the gym,
226
00:08:47,159 --> 00:08:49,139
we wanted to try to pivot
and create
227
00:08:49,159 --> 00:08:51,079
as many at-home workouts,
you know,
228
00:08:51,100 --> 00:08:52,220
and try to stay engaged
with people
229
00:08:53,000 --> 00:08:54,100
and keep people focused.
230
00:08:54,120 --> 00:08:55,130
- It feels so different,
231
00:08:55,149 --> 00:08:56,139
but it's really just like
232
00:08:56,159 --> 00:08:57,139
every other day, you guys.
233
00:08:57,159 --> 00:08:58,199
It's gonna be great.
234
00:08:58,220 --> 00:09:00,060
- Certainly,
it wasn't seamless.
235
00:09:00,080 --> 00:09:01,220
You know, you just try
to do anything
236
00:09:02,000 --> 00:09:03,140
and everything that you can
237
00:09:03,159 --> 00:09:05,029
because you're worried
about your members,
238
00:09:05,049 --> 00:09:06,199
your franchisees,
and the health
239
00:09:06,220 --> 00:09:08,120
of the business as a whole.
240
00:09:09,090 --> 00:09:10,160
- I think so.
- Okay.
241
00:09:10,179 --> 00:09:12,059
Okay?
You're feeling it.
242
00:09:12,080 --> 00:09:13,160
Hold it!
You got 15 more seconds.
243
00:09:13,179 --> 00:09:15,039
Keep moving.
244
00:09:15,059 --> 00:09:17,219
If it doesn't challenge you,
it doesn't change you.
245
00:09:18,000 --> 00:09:19,090
Here we go.
246
00:09:19,110 --> 00:09:20,220
- You know, people
who are quarantining
247
00:09:21,000 --> 00:09:22,200
with us,
we're working out together.
248
00:09:22,220 --> 00:09:24,220
We're motivating and inspiring
each other in that way.
249
00:09:25,000 --> 00:09:26,150
Great job, guys.
Can't wait to get back
250
00:09:26,169 --> 00:09:28,169
into an F45 studio
with all you guys.
251
00:09:28,190 --> 00:09:30,080
Got the kids
down there a couple times
252
00:09:30,100 --> 00:09:32,130
in the gym.
That was probably a plus.
253
00:09:32,149 --> 00:09:33,229
Look at that,
I found a plus
254
00:09:34,009 --> 00:09:35,059
in this whole thing.
255
00:09:35,080 --> 00:09:37,050
Whoa, whoa, whoa, whoa!
- Oh, no.
256
00:09:37,070 --> 00:09:38,140
No, you didn't.
257
00:09:38,159 --> 00:09:40,059
- Are you nuts?
258
00:09:40,080 --> 00:09:41,220
[laughter]
259
00:09:42,000 --> 00:09:44,230
[upbeat music]
260
00:09:45,009 --> 00:09:50,089
♪ ♪
261
00:09:50,110 --> 00:09:52,070
We were teaching my daughter
about business,
262
00:09:52,090 --> 00:09:54,040
and buying materials, and--
263
00:09:54,059 --> 00:09:56,119
and, you know, being smart
about managing costs.
264
00:09:56,139 --> 00:09:59,059
And then, she started
a hobby horse business.
265
00:09:59,080 --> 00:10:00,200
Tell them what
you're doing with this.
266
00:10:00,220 --> 00:10:02,010
- I'm selling them.
267
00:10:02,029 --> 00:10:03,159
- She made them all by hand.
268
00:10:03,179 --> 00:10:06,039
What's the price?
- $30.
269
00:10:06,059 --> 00:10:08,159
- She's making
five, ten horses a day,
270
00:10:08,179 --> 00:10:10,229
but she was putting
real effort into it.
271
00:10:11,009 --> 00:10:13,199
She was selling hobby horses
at a rapid rate.
272
00:10:13,220 --> 00:10:16,140
- I'm gonna go stuff this and
then come back to do the rest.
273
00:10:16,159 --> 00:10:18,139
- The Kardashians
were requesting
274
00:10:18,159 --> 00:10:20,099
custom-made hobby horses,
275
00:10:20,120 --> 00:10:22,220
and the business
had turned into being
276
00:10:23,000 --> 00:10:24,180
pretty lucrative
pretty quickly.
277
00:10:24,200 --> 00:10:26,130
[imitates neighing]
278
00:10:26,149 --> 00:10:29,179
- [laughs]
279
00:10:31,100 --> 00:10:33,060
- Because of Grace's
hobby horse business,
280
00:10:33,080 --> 00:10:35,090
Brendan starting
getting jealous.
281
00:10:35,110 --> 00:10:37,140
When he saw the kind of money
that she was making
282
00:10:37,159 --> 00:10:40,089
making these horses, because
he's very entrepreneurial,
283
00:10:40,110 --> 00:10:42,210
and they really became
very engaged.
284
00:10:51,139 --> 00:10:55,049
- These businesses can
teach them about value.
285
00:10:55,070 --> 00:10:56,190
And when they own something,
286
00:10:56,210 --> 00:10:58,190
taking care of it,
preserving something,
287
00:10:58,210 --> 00:11:00,170
handling it with delicacy--
288
00:11:00,190 --> 00:11:04,010
there are many valuable lessons
to be learned there.
289
00:11:04,029 --> 00:11:05,999
Whoo!
290
00:11:06,019 --> 00:11:09,009
[dramatic music]
291
00:11:09,029 --> 00:11:16,069
♪ ♪
292
00:11:17,100 --> 00:11:20,140
[line trilling]
293
00:11:23,169 --> 00:11:25,099
- Hey, Harry.
- Hey, Mike.
294
00:11:25,120 --> 00:11:27,100
- Um, I have
some very bad news
295
00:11:27,120 --> 00:11:28,220
about Municipal.
296
00:11:29,000 --> 00:11:29,220
- Okay.
297
00:11:30,000 --> 00:11:32,030
- So I spoke to Mark,
298
00:11:32,049 --> 00:11:34,159
and when the stock market went
299
00:11:34,179 --> 00:11:37,169
from an 8,000-point drop
in the DOW
300
00:11:37,190 --> 00:11:39,150
in such a short period
of time.
301
00:11:39,169 --> 00:11:42,099
It's a free fall.
- Yep. Terrible.
302
00:11:42,120 --> 00:11:45,140
- So that created
a significant strain
303
00:11:45,159 --> 00:11:46,199
on our liquidity
304
00:11:46,220 --> 00:11:48,180
and required us to scale back
305
00:11:48,200 --> 00:11:50,120
some of our funding
commitments.
306
00:11:50,139 --> 00:11:53,029
- Yep.
- Including Municipal.
307
00:11:53,049 --> 00:11:54,159
- Our funding source,
308
00:11:54,179 --> 00:11:55,229
FOD, backed out.
309
00:11:56,009 --> 00:11:57,149
They were gone.
They were done.
310
00:11:57,169 --> 00:11:59,099
Because we were pre-launch,
311
00:11:59,120 --> 00:12:01,150
we weren't a business that
was currently operational.
312
00:12:01,169 --> 00:12:04,019
They had to focus on
their current operations.
313
00:12:04,039 --> 00:12:06,019
Those were the ones
that had to take priority.
314
00:12:06,039 --> 00:12:08,109
- Hopefully you guys get
to turn the corner.
315
00:12:08,129 --> 00:12:09,199
- Thank you.
316
00:12:09,220 --> 00:12:17,000
♪ ♪
317
00:12:17,230 --> 00:12:21,070
The responsible thing to do
as a business leader
318
00:12:21,090 --> 00:12:24,120
is to let everyone know
these are the realities.
319
00:12:26,169 --> 00:12:29,009
Dave, Kim, do you guys
got a sec?
320
00:12:32,210 --> 00:12:34,020
So...
321
00:12:34,039 --> 00:12:36,209
we got bad news from FOD.
322
00:12:36,230 --> 00:12:39,190
They just--they had
to pull our funding.
323
00:12:43,019 --> 00:12:44,079
- So how are you feeling?
324
00:12:44,100 --> 00:12:45,190
Are you freaking out?
325
00:12:45,210 --> 00:12:47,120
- I'm fucking panicked.
326
00:12:47,139 --> 00:12:50,099
Everybody on the team believe
in Municipal.
327
00:12:50,120 --> 00:12:51,160
They believe in Mark.
328
00:12:51,179 --> 00:12:53,189
And above all that,
they trusted me.
329
00:12:53,210 --> 00:12:55,200
Getting to this point
was the hard part,
330
00:12:55,220 --> 00:12:59,040
and now, like, we're getting it
pulled out from under us.
331
00:12:59,059 --> 00:13:00,079
- I know.
332
00:13:00,100 --> 00:13:01,210
I just felt like, oh, my gosh,
333
00:13:01,230 --> 00:13:04,010
do I need to start looking
for something else?
334
00:13:04,029 --> 00:13:05,099
But nobody's hiring right now.
335
00:13:05,120 --> 00:13:07,030
Like, what's gonna happen?
336
00:13:07,049 --> 00:13:09,229
- My guess is, we're gonna be
tightening our belts here,
337
00:13:10,009 --> 00:13:13,069
to basically put ourselves
on life support.
338
00:13:13,090 --> 00:13:14,170
- There's definitely risk
involved
339
00:13:14,190 --> 00:13:16,030
when you work for a start-up.
340
00:13:16,049 --> 00:13:17,159
And I've worked for start-ups
before,
341
00:13:17,179 --> 00:13:18,229
and I've had them fail.
342
00:13:19,009 --> 00:13:20,209
- The hits just keep coming.
343
00:13:20,230 --> 00:13:23,170
- We have to look
at every single
344
00:13:23,190 --> 00:13:26,010
option to get us
moving forward,
345
00:13:26,029 --> 00:13:28,219
but I don't know
if we're gonna survive
346
00:13:29,000 --> 00:13:30,180
as a company.
347
00:13:33,230 --> 00:13:36,220
[eerie music]
348
00:13:37,000 --> 00:13:44,040
♪ ♪
349
00:13:48,200 --> 00:13:50,070
[line trills]
350
00:13:50,090 --> 00:13:52,060
- Hello.
351
00:13:52,080 --> 00:13:54,170
- Hey. What's up?
[chuckles]
352
00:13:54,190 --> 00:13:56,160
- Has Father come on?
353
00:13:56,179 --> 00:13:58,089
- Sorry about the delay, guys.
354
00:13:58,110 --> 00:14:00,180
I had a little issue
installing Zoom on my laptop.
355
00:14:00,200 --> 00:14:02,050
- No problem.
356
00:14:02,070 --> 00:14:04,010
- This project came to us
about this story
357
00:14:04,029 --> 00:14:06,219
of a priest
who also runs a hedge fund
358
00:14:07,000 --> 00:14:07,220
on Wall Street.
359
00:14:08,000 --> 00:14:09,070
The documentary series
360
00:14:09,090 --> 00:14:10,140
centers around the father
361
00:14:10,159 --> 00:14:12,219
as he takes on the SEC
362
00:14:13,000 --> 00:14:14,060
and Big Pharma.
363
00:14:14,080 --> 00:14:15,200
I told Mark about the project,
364
00:14:15,220 --> 00:14:17,180
and Mark was so intrigued
by this priest
365
00:14:17,200 --> 00:14:19,120
that he wanted to meet him.
366
00:14:19,139 --> 00:14:21,219
Father, would you kind of just
tell your story
367
00:14:22,000 --> 00:14:24,200
as far as, you know,
what your "side job" is,
368
00:14:24,220 --> 00:14:26,030
and so forth?
369
00:14:26,049 --> 00:14:27,039
- Yeah.
370
00:14:27,059 --> 00:14:28,149
I'm Father Emmanuel Lemelson,
371
00:14:28,169 --> 00:14:30,029
and I'm a Greek Orthodox priest
372
00:14:30,049 --> 00:14:31,179
and an activist investor.
373
00:14:31,200 --> 00:14:33,110
Well, an activist investor
typically
374
00:14:33,129 --> 00:14:35,129
gets involved with companies
in order
375
00:14:35,149 --> 00:14:38,029
to protect the interest
of common shareholders.
376
00:14:38,049 --> 00:14:39,139
You know, most clergy
377
00:14:39,159 --> 00:14:41,209
in the Eastern churches
are married.
378
00:14:41,230 --> 00:14:45,040
A number of Orthodox clergy,
we have lay vocations,
379
00:14:45,059 --> 00:14:46,149
and you learn about priests
380
00:14:46,169 --> 00:14:48,069
who are maybe doctors
or lawyers,
381
00:14:48,090 --> 00:14:49,190
but apparently,
there hasn't been any
382
00:14:49,210 --> 00:14:51,050
who've really worked
in finance,
383
00:14:51,070 --> 00:14:54,000
at least not in the capacity
I have.
384
00:14:54,019 --> 00:14:56,189
It's been controversial,
385
00:14:56,210 --> 00:14:58,150
but I've come to learn
that controversy's
386
00:14:58,169 --> 00:15:00,049
not necessarily
a negative thing.
387
00:15:00,070 --> 00:15:01,160
- I just thought
it was fascinating--
388
00:15:01,179 --> 00:15:02,209
a man of the cloth was also
389
00:15:02,230 --> 00:15:04,110
a man in the investment world.
390
00:15:04,129 --> 00:15:06,109
Most of the priests
that I know
391
00:15:06,129 --> 00:15:08,099
stick to working for the Lord,
392
00:15:08,120 --> 00:15:10,150
but he's a multitasker.
393
00:15:10,169 --> 00:15:12,229
- As a young man,
my heart's desire was to serve
394
00:15:13,009 --> 00:15:15,109
the church as a priest,
but I was always aware
395
00:15:15,129 --> 00:15:17,009
of the business world,
though, as well,
396
00:15:17,029 --> 00:15:19,019
and maybe it is like
a second calling.
397
00:15:19,039 --> 00:15:20,159
And I think that
as Christians,
398
00:15:20,179 --> 00:15:22,039
we should embrace our work,
399
00:15:22,059 --> 00:15:23,999
even in the financial world.
400
00:15:24,019 --> 00:15:25,169
- Archie, when you told me
the doc,
401
00:15:25,190 --> 00:15:28,160
I was like,
"I gotta meet that guy.
402
00:15:28,179 --> 00:15:30,039
I gotta meet that guy."
403
00:15:30,059 --> 00:15:31,169
It's exciting that
we'll get to do
404
00:15:31,190 --> 00:15:34,000
a lot of interesting things
together.
405
00:15:34,019 --> 00:15:36,149
We want to make some
compelling television,
406
00:15:36,169 --> 00:15:39,079
but also, you know,
with a message.
407
00:15:39,100 --> 00:15:40,140
- Yeah, absolutely.
408
00:15:40,159 --> 00:15:42,049
- And I said to Archie,
409
00:15:42,070 --> 00:15:44,080
this can really be something
that's really special
410
00:15:44,100 --> 00:15:45,220
and really has an impact
on people.
411
00:15:46,000 --> 00:15:46,230
And it's complicated.
412
00:15:47,009 --> 00:15:48,029
You're a complicated dude.
413
00:15:48,049 --> 00:15:49,159
You're, like--you're a priest,
414
00:15:49,179 --> 00:15:52,019
but you're also--you know,
you have a hedge fund.
415
00:15:52,039 --> 00:15:53,179
- [chuckles]
416
00:15:53,200 --> 00:15:55,200
Um...
417
00:15:55,220 --> 00:15:57,110
- Father, real quick.
Sorry to interrupt.
418
00:15:57,129 --> 00:15:58,229
Say hello to my beautiful wife.
419
00:15:59,009 --> 00:16:00,049
- Rhea, it's so nice
to meet you.
420
00:16:00,070 --> 00:16:01,170
- Hi. Nice to meet you.
421
00:16:01,190 --> 00:16:04,040
- My wife thinks you're
so beautiful, by the way.
422
00:16:04,059 --> 00:16:06,059
- Aw, thank you.
- And so do I.
423
00:16:06,080 --> 00:16:08,050
All right, give me a kiss.
- Okay.
424
00:16:08,070 --> 00:16:10,090
Your dinner's ready.
- I ate my dinner.
425
00:16:10,110 --> 00:16:11,210
- Oh, you ate it already?
- Oh, yeah.
426
00:16:11,230 --> 00:16:14,050
- That was mine.
- I ate some--
427
00:16:14,070 --> 00:16:15,160
oh, it's really good.
428
00:16:15,179 --> 00:16:17,099
Vegan pasta.
429
00:16:17,120 --> 00:16:19,010
- By the way, you know,
my wife is with me too
430
00:16:19,029 --> 00:16:22,129
behind me here
on the computer screen.
431
00:16:22,149 --> 00:16:25,049
- We both overachieve, Father.
432
00:16:25,070 --> 00:16:27,090
Well, Archie,
we'll follow up tomorrow,
433
00:16:27,110 --> 00:16:30,010
and Father,
I'll call you tomorrow.
434
00:16:30,029 --> 00:16:32,129
- You guys have a good night.
Archie, take care.
435
00:16:32,149 --> 00:16:34,009
- Good night, everyone.
436
00:16:34,029 --> 00:16:37,019
[dramatic music]
437
00:16:37,039 --> 00:16:44,089
♪ ♪
438
00:16:47,029 --> 00:16:48,229
[line trilling]
439
00:16:53,149 --> 00:16:54,149
- What's up?
440
00:16:54,169 --> 00:16:56,089
Where are we at?
441
00:16:56,110 --> 00:16:59,020
- Good. Talked to Lev
for a while this morning,
442
00:16:59,039 --> 00:17:00,219
kind of filling him in
on everything again,
443
00:17:01,000 --> 00:17:03,130
but we have to figure out
what we're gonna do
444
00:17:03,149 --> 00:17:05,059
'cause we're--
445
00:17:05,079 --> 00:17:07,079
we really only have
446
00:17:07,099 --> 00:17:09,139
three weeks of cash left.
447
00:17:09,160 --> 00:17:11,000
- Yeah.
448
00:17:11,019 --> 00:17:13,079
- Since our funding source
pulled out
449
00:17:13,099 --> 00:17:14,169
at the worst time,
450
00:17:14,190 --> 00:17:16,050
we had to really make
451
00:17:16,069 --> 00:17:17,139
a lot of hard decisions.
452
00:17:17,160 --> 00:17:19,100
You know, we're getting
close to launch,
453
00:17:19,119 --> 00:17:21,089
so we have to get
really creative on
454
00:17:21,109 --> 00:17:24,029
how are we gonna get us through
the end of the year and beyond.
455
00:17:24,049 --> 00:17:27,039
I'll put together a bunch
of different scenarios
456
00:17:27,059 --> 00:17:29,019
so that we can decide
457
00:17:29,039 --> 00:17:30,039
how we wanna go forward.
458
00:17:30,059 --> 00:17:31,189
- Yeah, well, a lot of people
459
00:17:31,210 --> 00:17:33,080
made a lot of sacrifice
460
00:17:33,099 --> 00:17:35,119
to launch this business,
461
00:17:35,140 --> 00:17:37,190
so, you know, if we're going
into business together,
462
00:17:37,210 --> 00:17:39,030
we're betting on ourselves.
463
00:17:39,049 --> 00:17:40,109
Let's just finance it
ourselves.
464
00:17:40,130 --> 00:17:41,220
You know, Lev and I
are both prepared
465
00:17:42,000 --> 00:17:43,150
to step up,
whatever we have to do,
466
00:17:43,170 --> 00:17:46,170
to continue to finance
the business, so...
467
00:17:51,130 --> 00:17:53,120
♪ ♪
468
00:17:53,140 --> 00:17:54,200
- Um...
469
00:17:56,210 --> 00:17:58,020
- Hello?
470
00:17:59,170 --> 00:18:01,130
[line trills]
471
00:18:01,150 --> 00:18:02,220
[speaking native language]
472
00:18:03,000 --> 00:18:05,220
- Huh? Do you speak English?
473
00:18:09,049 --> 00:18:10,139
- Yeah. Yeah, exactly.
474
00:18:10,160 --> 00:18:12,040
- And we'll go after it.
475
00:18:12,059 --> 00:18:13,109
- Okay.
476
00:18:13,130 --> 00:18:15,200
- I'll fill you in
if anything happens
477
00:18:15,220 --> 00:18:18,000
between now and the next time
I talk to you.
478
00:18:18,019 --> 00:18:19,079
- All right, buddy.
Hang in there.
479
00:18:19,099 --> 00:18:20,119
- Okay, you too, Mark.
480
00:18:20,140 --> 00:18:21,200
See you, man. Bye.
- Bye.
481
00:18:21,220 --> 00:18:23,100
[tense music]
482
00:18:23,119 --> 00:18:24,199
- So we found ourselves
483
00:18:24,220 --> 00:18:26,200
having to scrap
our whole business plan
484
00:18:26,220 --> 00:18:29,050
and start really over
from the beginning.
485
00:18:29,069 --> 00:18:31,059
Now, we're trying to figure out
486
00:18:31,079 --> 00:18:34,119
what's the best avenue
for Mark and Lev.
487
00:18:34,140 --> 00:18:36,200
They're like,
"Let's just do it ourselves."
488
00:18:36,220 --> 00:18:39,040
But I don't have that
kind of cash lying around,
489
00:18:39,059 --> 00:18:42,119
so I'm really nervous
about hurting the team
490
00:18:42,140 --> 00:18:44,090
if I can't go forward.
491
00:18:44,109 --> 00:18:46,049
Like AJ on our team,
492
00:18:46,069 --> 00:18:48,019
he's a young guy,
just has a family.
493
00:18:48,039 --> 00:18:50,049
Like, I wanna bust my ass
494
00:18:50,069 --> 00:18:53,039
so that that guy can
buy a house someday.
495
00:18:53,059 --> 00:18:55,179
And...
496
00:18:55,200 --> 00:18:57,070
that's why we're here,
you know?
497
00:18:57,089 --> 00:18:58,149
I think about that.
498
00:19:03,119 --> 00:19:06,029
[solemn music]
499
00:19:06,049 --> 00:19:08,089
- We're going through a very
hard time in this country.
500
00:19:08,109 --> 00:19:09,179
At first, I was like,
501
00:19:09,200 --> 00:19:11,130
okay, we'll be shut down
for a few weeks,
502
00:19:11,150 --> 00:19:12,190
just like everyone else.
503
00:19:12,210 --> 00:19:14,060
And then, of course,
a few weeks
504
00:19:14,079 --> 00:19:16,119
became a month, two months.
505
00:19:16,140 --> 00:19:18,040
It really is
a daunting feeling
506
00:19:18,059 --> 00:19:20,169
because it's
a real possibility
507
00:19:20,190 --> 00:19:22,020
if we can't sell shows,
508
00:19:22,039 --> 00:19:24,069
that this company
will go away,
509
00:19:24,089 --> 00:19:26,009
and with that, a lot of jobs.
510
00:19:26,029 --> 00:19:28,069
I'm working as hard as
I ever have in my entire life,
511
00:19:28,089 --> 00:19:30,179
just scrambling
to try to figure it out.
512
00:19:30,200 --> 00:19:33,010
- Hey, Archie.
How are you?
513
00:19:33,029 --> 00:19:34,069
- You know,
514
00:19:34,089 --> 00:19:36,079
craziness.
515
00:19:36,099 --> 00:19:39,169
Trying to work out of your home
and accomplish that all,
516
00:19:39,190 --> 00:19:40,230
it's a lot.
517
00:19:41,009 --> 00:19:44,019
Here's Wallace.
- Hi, Wallace.
518
00:19:44,039 --> 00:19:47,009
Your children are so beautiful,
519
00:19:47,029 --> 00:19:48,159
Archie.
520
00:19:48,180 --> 00:19:50,060
- We're gonna get a call
from Zoom.
521
00:19:50,079 --> 00:19:52,139
Cuteness overload.
- [giggles]
522
00:19:52,160 --> 00:19:55,110
- 'Cause it really tests you
being a great dad.
523
00:19:55,130 --> 00:19:57,050
Ryan has sent me the materials.
- [babbles]
524
00:19:57,069 --> 00:19:58,119
- Sorry, that's my kid.
525
00:19:58,140 --> 00:20:00,120
And being a great
business partner,
526
00:20:00,140 --> 00:20:02,210
and owning a company, you know?
527
00:20:02,230 --> 00:20:04,040
I wanna be there for my kids.
528
00:20:04,059 --> 00:20:05,229
Hey, buddy.
It's so tough.
529
00:20:06,009 --> 00:20:08,169
I'm on a pitch,
and my son is like,
530
00:20:08,190 --> 00:20:10,110
"Daddy, Daddy,
let's play football."
531
00:20:10,130 --> 00:20:12,070
[voice breaking]
You know?
532
00:20:12,089 --> 00:20:14,129
It's hard.
It's hard.
533
00:20:14,150 --> 00:20:16,060
- [indistinct]
534
00:20:17,109 --> 00:20:18,099
- [laughs] Hey.
535
00:20:18,119 --> 00:20:20,109
[laughter echoes]
536
00:20:20,130 --> 00:20:23,120
[melancholy piano music]
537
00:20:23,140 --> 00:20:26,230
♪ ♪
538
00:20:27,009 --> 00:20:30,039
[indistinct chatter]
539
00:20:30,059 --> 00:20:31,149
- Okay, so go ahead.
540
00:20:31,170 --> 00:20:32,210
Start with the bad news,
541
00:20:32,230 --> 00:20:34,200
and then give me
the worst news.
542
00:20:34,220 --> 00:20:36,220
You know, when
the pandemic hit,
543
00:20:37,000 --> 00:20:38,070
you know, just a combination
544
00:20:38,089 --> 00:20:39,199
of things just
started happening.
545
00:20:39,220 --> 00:20:41,210
And, you know, hundreds
of thousands of people
546
00:20:41,230 --> 00:20:43,190
have been out of work
with no end in sight.
547
00:20:43,210 --> 00:20:45,080
We told them what
was going on...
548
00:20:45,099 --> 00:20:47,069
...People will feel safe.
Rhea, that's the problem.
549
00:20:47,089 --> 00:20:49,219
I mean, I was on
eight to ten Zoom calls a day
550
00:20:50,000 --> 00:20:52,010
to make some hard decisions,
but when it comes
551
00:20:52,029 --> 00:20:53,189
to the state
of these businesses...
552
00:20:55,019 --> 00:20:56,169
The stakes are
pretty damn high.
553
00:20:56,190 --> 00:20:59,000
I mean, there's constantly
lots to overcome,
554
00:20:59,019 --> 00:21:00,129
things coming
from out of nowhere.
555
00:21:00,150 --> 00:21:02,040
- There's too many
COVID cases there.
556
00:21:02,059 --> 00:21:04,039
- Hold on one sec.
That's my line. Hold on.
557
00:21:04,059 --> 00:21:06,149
I've got to be hands-on
and, you know,
558
00:21:06,170 --> 00:21:08,140
solving problems
and fixing things.
559
00:21:09,140 --> 00:21:11,150
- What do you mean you have
to go back and look?
560
00:21:11,170 --> 00:21:13,130
Everybody that
I'm involved with
561
00:21:13,150 --> 00:21:16,090
has good, hard-earned money
involved in these businesses.
562
00:21:16,109 --> 00:21:18,119
Why wasn't I asked
if it was okay?
563
00:21:18,140 --> 00:21:20,220
Tom, what the fuck is going on?
564
00:21:21,160 --> 00:21:24,000
- Do you see the number
that you're responsible for
565
00:21:24,019 --> 00:21:26,179
versus the number
that I'm responsible for?
566
00:21:26,200 --> 00:21:28,040
- [sighs]
567
00:21:28,059 --> 00:21:29,179
- All right, I'm gonna hang up
on you now.
568
00:21:29,200 --> 00:21:31,120
[dial tone]
569
00:21:31,140 --> 00:21:34,000
Are you fucking kidding me?
570
00:21:35,170 --> 00:21:37,060
- Going into this pandemic,
571
00:21:37,079 --> 00:21:40,149
there is nothing but problems
every day
572
00:21:40,170 --> 00:21:41,170
in business.
573
00:21:41,190 --> 00:21:43,050
My philosophy and outlook
574
00:21:43,069 --> 00:21:44,149
on it is,
575
00:21:44,170 --> 00:21:46,030
you not only need
to have the vision
576
00:21:46,049 --> 00:21:47,169
and be passionate,
but you have
577
00:21:47,190 --> 00:21:49,060
to be a really good
problem solver.
578
00:21:49,079 --> 00:21:51,089
Any type of problem
that comes your way,
579
00:21:51,109 --> 00:21:53,229
you have to have the answers
and the solutions.
580
00:21:54,009 --> 00:21:56,049
[dial tone]
581
00:21:56,069 --> 00:21:59,069
[tense music building]
582
00:21:59,089 --> 00:22:01,069
♪ ♪
583
00:22:04,170 --> 00:22:06,020
The more I think about it,
584
00:22:06,039 --> 00:22:07,129
the more I think
I should have my hands
585
00:22:07,150 --> 00:22:09,020
in the businesses
on a day-to-day.
586
00:22:09,039 --> 00:22:11,089
Have all the right people
that make decisions.
587
00:22:11,109 --> 00:22:12,169
I got to go out there
and actually
588
00:22:12,190 --> 00:22:14,090
really handle it myself.
589
00:22:14,109 --> 00:22:16,099
[dramatic music]
590
00:22:16,119 --> 00:22:17,209
And, um, ultimately,
591
00:22:17,230 --> 00:22:20,110
I have to stop the bleeding.
592
00:22:20,130 --> 00:22:22,110
And it has to happen
immediately.
593
00:22:22,130 --> 00:22:24,110
It's about fucking time!
594
00:22:28,220 --> 00:22:31,120
- ♪ Get ready,
get, get, get ready ♪
595
00:22:31,140 --> 00:22:34,040
♪ Get, get ready,
get, get, get ready ♪
596
00:22:34,059 --> 00:22:35,229
♪ Get, get, get,
get, get, get, get ♪
597
00:22:36,009 --> 00:22:37,189
♪ Get, get, get, get,
get, get, get, get ♪
598
00:22:37,210 --> 00:22:39,140
♪ ♪
599
00:22:39,160 --> 00:22:41,020
♪ It's game time ♪
600
00:22:41,039 --> 00:22:44,019
[vocalizing]
601
00:22:44,039 --> 00:22:51,079
♪ ♪
602
00:22:53,019 --> 00:22:55,999
- ♪ Hey, hey, hey, hey ♪
603
00:22:56,019 --> 00:22:59,009
♪ Hey, hey, hey, hey ♪
604
00:22:59,029 --> 00:23:00,019
♪ Hey ♪
605
00:23:00,039 --> 00:23:02,009
♪ Hey, hey, hey ♪
606
00:23:02,029 --> 00:23:04,019
♪ ♪
42528
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