Brilliant People Podcast

What does it take to build one of the most influential data and marketing engines in global sport  in a market defined by exploding fan demand, new consumption behaviors, and an unprecedented wave of private capital?
In this episode, host Linnea Jungnelius sits down with Gareth Balch, Co-Founder and CEO of Two Circles, the sports data and intelligence company working with more than 900 rights holders worldwide — including the NFL, NBA, Premier League, ICC, and World Rugby — and processing nearly two thirds of all global sports fan transactions.
Over the last 14 years, Gareth has helped usher sport into its third age of monetization: a world where audience attention, audience affection, and sophisticated data engineering shape the winners.
From why sport is the “world’s largest religion,” to how fragmented fan behavior is redefining the attention economy, to what it really takes to build a tribe that compounds, Gareth breaks down the forces powering today’s global sports boom.
For rights holders, private equity investors, and anyone focused on commercial growth in sport, this conversation reveals the playbook behind audience-led value creation, the economics driving white-hot investment, and why knowing your fans best is now the ultimate competitive advantage.

What You’ll Learn:
Why the future belongs to rights holders that grow audience attention + affection fastest.
How the biggest leagues and the "innovating middle" are scaling by building tribes, not just selling rights.
Why we're entering the third age of sports monetization and who's positioned to win in it.
How to engineer real revenue from trillions of fan data points.
Where leakage is happening, and how rights holders can recapture value from tech platforms, piracy, and real estate.
Why institutional capital is pouring into the sector and where the smartest money is deploying next.

Timecodes
00:12 Guest Intro: Gareth Balch
03:18 The 6B–4B–1.5B Fan Economy
04:46 The Third Age of Sports Monetization
05:16 The Attention–Affection Model for Valuing Sports IP
06:04 Revenue Concentration: Top 20 Leagues Controlling 44%
08:06 Sports IP Forecast: Path to $260B by 2033
09:28 Breakout Performers: SailGP, CFP, The Hundred
10:04 Tribe Building: How Smaller Sports Create Outsized Value
11:18 Shooting Stars: IPL, UFC, NWSL Growth Flywheel
13:00 Women’s Sports: Unlocking the Commercialization Gap
16:32 Know Your Fans Best: The Ultimate Competitive Advantage
22:12 Leakage: Piracy & Value Lost to Platforms
24:00 Private Capital in Sports: Why the Category Is “White Hot”
27:52 Where Capital Flows Next: IP vs. Tech vs. Adjacencies
30:14 Predictive Analytics: Causation Over Correlation
33:32 Building a High-Performance Culture
36:36 Evolving the Ideal Hire: Attitude vs. Aptitude
42:06 Managing the Doom Loop: “Don’t Suffer Twice”
49:22 Lightning Round: Personal Reflections

Resources:
Gareth Balch:
LinkedIn: ⁠https://www.linkedin.com/in/garethbalch/
Linnea Jungnelius:
LinkedIn: https://⁠www.linkedin.com/in/linneajungnelius ⁠
X: ⁠https://x.com/itslinnea⁠

Explore the Podcast:
Spotify: ⁠https://rebrand.ly/gareth-balch-spotify-podcastApple Podcasts: https://rebrand.ly/gareth-balch-apple-podcastBlog: https://rebrand.ly/gareth-balch-blog
Found Value?
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Website: ⁠https://www.acertitude.com   ⁠

What does it take to build a top-performing growth equity firm in a market defined by hype cycles, capital oversupply, and shifting investor expectations?
In this episode, host Linnea Jungnelius sits down with Brian Neider, Managing Partner at Lead Edge Capital, a $5B global growth equity firm behind category-defining companies like Toast, Spotify, Alibaba, and Duo Security.
As one of the original builders of Lead Edge, Brian has spent two decades refining one of the most disciplined investing models in the industry — a framework rooted in focus, consistency, and an unrivaled network of 700+ operator LPs.
From staying “militantly” true to your strike zone, to navigating the aftermath of the 2020–2021 capital cycle, to separating real AI traction from experimental noise, Brian breaks down what great investors and great firms do differently. For growth equity investors, founders, and anyone responsible for capital allocation, this conversation reveals why discipline compounds, how strategy integrity drives DPI, and what it truly means to build a fund that becomes a company.
What You’ll Learn:
• Why staying in your strike zone is the most underrated competitive advantage in growth equity.
• How Lead Edge built a network of 700 operator LPs and activates them.
• How to evaluate companies in the post–“growth at all costs” era.
• What gross retention tells you that topline growth never will in regard to AI hype.
• Why exit pathways must be defined upfront.
• Urgency, clarity, and the ability to adapt without drifting are the best traits CEOs and teams can have.
Timecodes:
00:00 Intro
00:18 Guest Introduction: Brian Neider, Lead Edge Capital
04:00 From “Grow at All Costs” to Profitable Growth
05:32 Lead Edge 8: The Metrics That Matter
08:30 LP Priorities: DPI, TVPI, and IRR
10:48 Why DPI Is Critical in Today’s Market
11:58 Exit Strategy Design: Defining Paths Upfront
13:58 Disposition Committee: The Overlooked Advantage
16:00 Filtering AI Hype: Experimental Spend vs. Real Retention
20:12 The Bucket Analogy: Understanding AI Churn
23:00 Founding Lead Edge: Building the LP Network Differently
26:10 Scaling the Firm: From All-Hands to Specialization
30:20 Activating the LP Network: How It Works in Practice
33:40 The LP Flywheel: Sourcing, Diligence, and Portfolio Support
36:00 Value Creation Capabilities: GTM, HR, and AI Support
38:12 What Great CEOs Do: Urgency, Adaptability, Action
41:54 Designing Effective Boards: Functional + Industry Balance
44:30 Building Executive Teams: The Power of a Rigorous Hiring Process
46:06 What’s Next: The Future of Lead Edge & Market Opportunities
51:58 Lightning Round: Personal Reflections
Resources:
Brian Neider: LinkedIn: ⁠https://www.linkedin.com/in/brian-neider-7774041/
Linnea Jungnelius:
LinkedIn: https://⁠www.linkedin.com/in/linneajungnelius ⁠
X: ⁠https://x.com/itslinnea⁠
Explore the Podcast:
Spotify: ⁠https://acertitu.de/brian-neider-spotify-podcast
Apple Podcasts: ⁠https://acertitu.de/brian-neider-apple-podcast
⁠Blog: ⁠https://acertitu.de/brian-neider-blog⁠
Found Value?👍
Tap Like. And Subscribe: ⁠https://acertitu.de/rate-brilliant-people-podcast⁠
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LinkedIn: https://⁠www.linkedin.com/company/Acertitude
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⁠Instagram: ⁠https://www.instagram.com/acertitude ⁠
TikTok: https://www.tiktok.com/brilliantpeoplepodWebsite: ⁠https://www.acertitude.com ⁠

What does it take to turn creativity into commercial growth in the business of sport?
In Episode 28, host Linnea Jungnelius sits down with Dan Migala, former Co-President and Chief Revenue Officer at Legends and one of the most inventive commercial minds in global sports and entertainment.
From changing first pitch times to 7:11, to transforming a foulpole into an 85-foot TaylorMade driver, to selling out 86,000 seats at the Women’s Cricket World Cup, Dan has built a career by breaking the mold.
He’s helped world-class organizations like the Chicago Bears, Real Madrid, and Oklahoma City Thunder reimagine how creativity, commerce, and culture intersect to drive growth.
For sports executives, private equity investors, and commercial leaders alike, this conversation explores how imagination becomes a competitive advantage, and why the best leaders think like creators, sell like strategists, and operate like owners.
 
What You’ll Learn:
• How to turn creative thinking into measurable commercial impact
• Why the best ideas are born from curiosity and the courage to ask questions
• How the Art, Heart, and Science framework transforms innovation intorevenue
• The Me–We–Go leadership model that builds alignment and culture
• What every commercial leader can learn from the future of women’s sports, private equity, and mixed-use development

Timecodes:
00:00 Intro
00:12 Guest Intro: Dan Migala
03:30 Early Digital Play: Selling Sports on the Web
03:46 Innovation Moment: Building the Bears’ First Website
05:12 Leadership Lesson: Power of Private Questions
05:58 AI Parallel: Curiosity as a Competitive Edge
07:46 Sponsorship Breakthrough: The 7-Eleven White Sox Deal
09:30 Pitch Like a Pro: Confidence Drives Buy-In
10:00 The Art–Heart–Science Framework for Revenue Growth
11:00 Brand Alignment: Anatomy of a High-Impact Sponsorship
15:16 TaylorMade Case Study: $350M Earned Media Win
16:26 Leadership Playbook: The Me–We–Go Model
21:00 Women’s Cricket World Cup: Designing Demand at Scale
21:22 Cultural Relevance: Katy Perry & International Women’s Day Tie-In
23:52 Leading with Empathy: Evolving the Commercial Leader
29:16 CEO–CRO Trust: Slow Down to Speed Up
30:28 Private Equity in Sports: “Everyone Wants to Be First”
35:12 Building the Future of Sports: Mixed-Use, Tech, and Capital Convergence
45:36 Lightning Round: Personal Reflections

Resources:
Dan Migala:
LinkedIn: ⁠https://www.linkedin.com/in/migala/
Linnea Jungnelius:
LinkedIn: https://⁠www.linkedin.com/in/linneajungnelius ⁠
X: ⁠https://x.com/itslinnea⁠

Explore the Podcast:
Spotify: ⁠https://acertitu.de/dan-migala-spotify-podcast
Apple Podcasts: ⁠https://acertitu.de/dan-migala-apple-podcast⁠
Blog: ⁠https://acertitu.de/dan-migala-blog⁠

Found Value?
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TikTok: https://www.tiktok.com/brilliantpeoplepod
Website: ⁠https://www.acertitude.com   ⁠

What does it take to build a value-creation engine that scales across portfolios, empowers CEOs, and blends purpose with performance?
In Episode 27, host Linnea Jungnelius sits down with Tory Ramaker, Senior Partner and Co-Head of Vistria PRG, LLC ("Portfolio Resources Group") at The Vistria Group, one of the private-equity industry’s most forward-thinking operating leaders.
From founding the PRG from the ground up to re-engineering how portfolio teams drive transformation, Tory shares what it really means to create impact in essential industries — where financial returns and societal outcomes go hand in hand.
For Operating Partners, CEOs, and investors alike, this conversation breaks down the next generation of value creation, grounded in partnership, empathy, and disciplined execution.
What You’ll Learn:
• How to architect a portfolio operations model that bridges strategy and execution
• Why management ownership, not investor direction, determines success
• The playbook for aligning boards, sponsors, and CEOs around one value-creation plan
• Why the best portfolio leaders blend consulting rigor with real operating experience
• The leadership balance between autonomy and accountability that builds lasting trust
Timecodes
00:00 Intro
00:15 Guest Introduction: Tory Ramaker, The Vistria Group
00:54 Early Lessons in Resilience and Adaptability
02:26 Learning to Influence: From Data and Logic to Empathy
07:13 Building the PRG: Founding Vision and Early Model
08:04 Evolving the Model: From Generalists to Functional Specialists
09:51 Portfolio Priorities: Technology, Talent, and Finance
11:06 Hiring Strategy: Product-Minded Tech Leaders and PE-Proven CFOs
11:45 Next-Gen Operating Talent: Consulting Rigor Meets Operating Experience
13:00 Operating Model Shift: Fewer Companies, Deeper Engagement
14:33 Value Creation Planning: It Must Be Management’s Plan
15:14 Execution and Measurement: Defining Success Metrics
17:03 Integrating Impact: Embedding Purpose into Value Creation
19:00 Partnering with CEOs: Building Trust and Candid Collaboration
21:03 Leadership Alignment: Autonomy with Accountability
22:35 Co-Investment Collaboration: Clarity and Over-Communication
23:46 Change Leadership: Applying AI and Data to Transformation
26:42 Capacity Discipline: Forced Scarcity and Strategic Resourcing
29:15 Leadership Standard: Autonomy with Accountability
31:39 Human Capital Playbook: Assessments, Coaching, and CEO Readiness
36:20 Leadership Evolution: EQ Over IQ
38:19 Lightning Round: Personal Reflections
Resources:
Tory Ramaker:
LinkedIn: ⁠https://www.linkedin.com/in/tory-ramaker-a077141/
Linnea Jungnelius:
LinkedIn: https://⁠www.linkedin.com/in/linneajungnelius
⁠X: ⁠https://x.com/itslinnea⁠
Explore the Podcast:
Spotify: ⁠https://acertitu.de/tory-ramaker-spotify-podcast
Apple Podcasts: ⁠https://acertitu.de/tory-ramaker-apple-podcast
⁠Blog: ⁠https://acertitu.de/tory-ramaker-blog⁠
Found Value?👍
Tap Like. And Subscribe: ⁠https://acertitu.de/rate-brilliant-people-podcast
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⁠TikTok: https://www.tiktok.com/brilliantpeoplepod
Website: ⁠https://www.acertitude.com ⁠

What does it take to modernize a legacy sport, inspire global fans, and build commercial engines that stand the test of time?
In Episode 26, Linnea Jungnelius sits down with Jeff Price, Chief Commercial & Philanthropy Officer at the PGA of America, and one of the most influential architects behind golf’s modern growth story.
From transforming brand partnerships at Gatorade and MasterCard to reshaping how millions experience the PGA Championship and Ryder Cup, Jeff has built a career at the intersection of sport, business, and innovation.
His lessons apply far beyond the fairway: they’re about building trust, culture, and commercial momentum in any business facing disruption.
What You’ll Learn:
• How to turn sponsorships into lasting, growth-driving partnerships
• The leadership shift from instructing teams to empowering them
• Why understanding your “dual-habit” consumers drives sustainable engagement
• How to extend experiences beyond the venue and into culture
• Why focus and the smart use of AI defines the next wave of sports innovation
Timecodes:
00:00 Intro
00:26 Guest Introduction: Jeff Price
1:09 Early Career & Lessons from Rejection
02:45 Career Journey: NBA, Gatorade, MasterCard
06:31 Startup Experience & Learning from Failure
08:43 Leadership Evolution: Empowerment vs. Instruction
10:16 Decision-Making & Strategic Frameworks
11:37 Joining PGA of America: Strategic Gaps & First Moves
13:15 Partnership Economics & PGA’s Commercial Strategy
17:10 Ryder Cup: Brand Unification & Global Growth
20:36 Commercial Innovation: Events, Experiences, and Media
22:51 Media Strategy: ESPN+ Streaming Deal
25:42 The Future: AI, Data, and Personalization in Golf
30:05 Building High-Performing Teams: The “We” Mentality
32:51 Commercial Leadership: Data, Social Media, and Revenue
34:01 Advice for CEOs & Commercial Teams
35:00 Personal Routines & Sustaining Performance
36:41 Sources of Inspiration & Industry Trends
38:01 Trends in Sports Business & Media
49:00 Lightning Round: Personal Reflections
Resources:
Jeff Price:
LinkedIn: ⁠https://www.linkedin.com/in/jeff-price-24481318/
Linnea Jungnelius:
LinkedIn: https://⁠www.linkedin.com/in/linneajungnelius ⁠
X: ⁠https://x.com/itslinnea⁠
Explore the Podcast:
Spotify: ⁠https://acertitu.de/jeff-price-spotify-podcast
Apple Podcasts: ⁠https://acertitu.de/jeff-price-apple-podcast⁠
Blog: ⁠https://acertitu.de/jeff-price-blog⁠
Found Value?
👍Tap Like. And Subscribe: ⁠https://acertitu.de/rate-brilliant-people-podcast⁠
Stay Updated on Acertitude:
LinkedIn: https://⁠www.linkedin.com/company/acertitude
⁠X: ⁠https://www.x.com/acertitude⁠
Instagram: ⁠https://www.instagram.com/acertitude⁠
TikTok: https://www.tiktok.com/brilliantpeoplepod
Website: ⁠https://www.acertitude.com ⁠