Podcasts > The Tim Ferriss Show > #814: Chatri Sityodtong, CEO of ONE Championship — From Dirt Poor to Top-10 Sports-Media Franchise, The $100M Breakfast, Dominating Social Media (30B+ Views/Year), Key Strategic Decisions, and the Moneyball of Fight Matchmaking

#814: Chatri Sityodtong, CEO of ONE Championship — From Dirt Poor to Top-10 Sports-Media Franchise, The $100M Breakfast, Dominating Social Media (30B+ Views/Year), Key Strategic Decisions, and the Moneyball of Fight Matchmaking

By Tim Ferriss: Bestselling Author, Human Guinea Pig

In this episode of The Tim Ferriss Show, ONE Championship CEO Chatri Sityodtong discusses his path from living on $4 per day during his Harvard years to building one of the world's top 10 sports media properties. His story includes candid details about his early life, including his father's departure, emigrating to America with $1,000, and his mother's sacrifices that shaped his drive to succeed.

The conversation covers ONE Championship's evolution from its challenging start—where Chatri faced 150 investor rejections—to its current status as a global sports media franchise. Chatri explains how the organization broke through by leveraging social media, creating mobile-friendly content, and securing major partnerships with Amazon Prime and Sky Sports. He also describes ONE Championship's approach to fighter selection and its emphasis on values like honor and discipline.

#814: Chatri Sityodtong, CEO of ONE Championship — From Dirt Poor to Top-10 Sports-Media Franchise, The $100M Breakfast, Dominating Social Media (30B+ Views/Year), Key Strategic Decisions, and the Moneyball of Fight Matchmaking

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#814: Chatri Sityodtong, CEO of ONE Championship — From Dirt Poor to Top-10 Sports-Media Franchise, The $100M Breakfast, Dominating Social Media (30B+ Views/Year), Key Strategic Decisions, and the Moneyball of Fight Matchmaking

1-Page Summary

Chatri Sityodtong's Background and Influence on Career

Chatri Sityodtong's journey from poverty to success began when his father's real estate business failed, leading to his father's abandonment of the family. After emigrating to America with just $1,000, Chatri attended Harvard, where his mother secretly lived in his dorm room to save money. They survived on $4 per day. According to Chatri, his mother's unconditional love and support became a driving force behind his determination to succeed, leading him to eventually buy her a New York City condominium with his first earnings.

Challenges and Breakthroughs In Globalizing One Championship

In ONE Championship's early years, Chatri faced significant challenges, meeting with 150 potential investors without success. Tim Ferriss notes that the organization eventually broke through by dominating social media and creating engaging digital content. Chatri emphasizes their focus on authentic content and letting fighters be themselves, which led to record-breaking viewership of 2.3 billion organic video views during their Tokyo show. The organization particularly benefited from producing mobile-friendly content as social media grew in Asia.

ONE Championship's Success: Partnerships, Digital Focus, Unique Programming

ONE Championship has emerged as one of the top 10 biggest sports media properties globally through strategic partnerships. Chatri describes securing major deals with Amazon Prime and Sky Sports, leading to broadcasting in 190 countries weekly. A crucial turning point came when Sequoia Capital invested $100 million at a billion-dollar valuation. The organization distinguishes itself through a 70% fight finish rate and by signing fighters with what Chatri calls "killer instinct." Chatri's background in martial arts shapes the organization's values-driven identity, emphasizing honor, discipline, and respect while focusing on sharing inspiring stories of victory over adversity.

1-Page Summary

Additional Materials

Clarifications

  • Chatri Sityodtong's journey from poverty to success began with his father's failed real estate business, leading to financial struggles and his father's departure. After moving to the U.S. with limited funds, Chatri attended Harvard, where he and his mother faced financial hardships. His determination to succeed was fueled by his mother's unwavering support, eventually leading to significant achievements in his career.
  • In its early years, ONE Championship faced challenges in securing investments, with Chatri Sityodtong meeting 150 potential investors without success. The organization overcame these hurdles by focusing on dominating social media and creating engaging digital content. ONE Championship's emphasis on authentic content and allowing fighters to express themselves led to significant viewership growth, particularly in the Asian market. The organization's success was also attributed to producing mobile-friendly content, aligning with the rise of social media consumption in Asia.
  • ONE Championship has formed strategic partnerships with major platforms like Amazon Prime and Sky Sports, expanding its reach to 190 countries. These partnerships have enabled the organization to broadcast its events weekly to a global audience. Additionally, securing investments, such as the $100 million from Sequoia Capital, has further fueled the growth and success of ONE Championship. These collaborations and investments have been instrumental in establishing ONE Championship as a prominent player in the sports media industry.
  • Chatri Sityodtong, the founder of ONE Championship, has shaped the organization's values around honor, discipline, and respect, drawing from his background in martial arts. These values are reflected in the promotion's emphasis on showcasing inspiring stories of fighters overcoming challenges. Chatri's personal journey from adversity to success, influenced by his mother's support, has played a significant role in defining the organization's ethos. ONE Championship's focus on authenticity and letting fighters express themselves aligns with Chatri's belief in empowering individuals to achieve their full potential.

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#814: Chatri Sityodtong, CEO of ONE Championship — From Dirt Poor to Top-10 Sports-Media Franchise, The $100M Breakfast, Dominating Social Media (30B+ Views/Year), Key Strategic Decisions, and the Moneyball of Fight Matchmaking

Chatri Sityodtong's Background and Influence on Career

Chatri Sityodtong's journey from poverty to business success is a tale intertwined with the influences of his family's struggles and the powerful figures in his life.

Chatri's Upbringing and His Father's Abandonment Impacted Him

Chatri Sityodtong's life took a drastic turn when his father's real estate business failed, being caught on the wrong end of a cycle with a lot of debt.

Chatri's Family Fell Into Poverty After His Father's Business Failed

The bank's repossession of his father's car and house led to his abandonment of the family, leaving Chatri with deep anger. Reflecting on this period, Chatri describes their dire financial situation, with no money left after the business collapse, precipitating a slide into poverty. This financial downturn was scandalous at the time in Thailand, where his father's failure and divorce were not common occurrences. The loss of their wealth and Chatri's anger toward his father were significant in shaping his future.

Chatri's Mother Lived With Him In His Harvard Dorm to Save Money

In pursuit of education and stability, Chatri emigrated to America with only $1,000 and a suitcase. To save money while studying at Harvard, Chatri's mother lived with him in his dorm room, a secret kept due to shame. They survived on a daily budget of $4, and Chatri slept on the floor so that his mother could sleep on the bed. Such extreme financial difficulties meant that Chatri had to seek loans for his education.

Mother's Struggles Inspired Chatri's Success

Despite the difficulties, Chatri's mother's unconditional love and aspirations heavily influenced his drive to succeed. In particular, buying a condominium in New York City for ...

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Chatri Sityodtong's Background and Influence on Career

Additional Materials

Actionables

  • Reflect on your own family's challenges and how they've shaped you by writing a personal history journal. Start by jotting down memories of difficult times and how you or your family members responded. This can help you identify the values and strengths that have been passed down to you, much like Chatri's mother's fortitude influenced him. For example, if your parents worked multiple jobs to support the family, consider how their work ethic has influenced your own career drive.
  • Create a "Dream Big" vision board to visually represent your aspirations and the influence of loved ones. Use images, quotes, and symbols that represent your goals and the people who inspire you, like Chatri was inspired by his mother's unconditional love. Place the board somewhere you'll see it daily to remind you of your purpose and the support system behind you. If your mother always encouraged your education, you might include a graduation cap or a picture of your dream university.
  • Establish a "Pay It Forward" savings plan to set aside a small amount of m ...

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#814: Chatri Sityodtong, CEO of ONE Championship — From Dirt Poor to Top-10 Sports-Media Franchise, The $100M Breakfast, Dominating Social Media (30B+ Views/Year), Key Strategic Decisions, and the Moneyball of Fight Matchmaking

Challenges and Breakthroughs In Globalizing One Championship

One Championship’s path to worldwide recognition faced considerable early hurdles but eventually succeeded by leveraging social media and digital content, as discussed by Chatri Sityodtong and Tim Ferriss.

One Championship's Struggle to Attract Investors

In the beginning, Chatri Sityodtong faced significant challenges in securing funding for One Championship. Despite his and his Harvard buddy's credentials and the market opportunity they presented, they could not land a single investor out of 150 they met within the first three years, indicating the scarcity of the market and competition with UFC, which was believed to have already won the game. They even offered content for free to broadcasters, who would air it at suboptimal times, like 2 AM.

Market Scarcity and UFC Competition Hindered Momentum

Chatri Sityodtong discussed the initial years of One Championship, which were marked by a struggle to find investors and grasping the theoretical concept of a total addressable market (TAM), which led to no traction. Pushback from over a hundred investors and broadcasters made it clear that convincing the market of the viability of another martial arts promotion was a significant challenge.

Chatri's Mother's Encouragement Inspired Persistence

While Chatri's mother's encouragement was not directly mentioned in relation to persistence with investor meetings, it can be inferred that her presence and shared struggle were a source of inspiration, given her history of overcoming adversity.

Social Media and Digital Content's Role in One Championship's Growth

Chatri Sityodtong’s team aimed to dominate social media and create engaging digital content to promote One Championship. Tim Ferriss praised their focused approach for becoming very large in a relatively short period of time by utilizing strong emotions like laughter with organic outtakes and highlights featuring the fighters' personalities.

Chatri's Team Aimed to Dominate Social Media and Create Engaging Digital Content

Tim Ferriss believes that One Championship has one of the best social media teams in any industry. Chatri Sityodtong emphasizes authenticity in One Championship's content and lets fighters be themselves, showing their real stories without manufacturing drama. Chatri also credits his social media team as the best, mentioning that he started the first page and acted as the initial social media manager, learning every trick to create engaging content.

One Championship Built a Passionate Fanbase With Viral Martial Arts Videos

Chatri Sityodtong mentioned that One Championship broke vie ...

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Challenges and Breakthroughs In Globalizing One Championship

Additional Materials

Clarifications

  • Chatri Sityodtong faced challenges securing funding for One Championship due to the perceived market saturation by the UFC and skepticism from investors about the viability of another martial arts promotion. Despite his credentials and market opportunity, convincing investors was difficult initially, with over 150 rejections in the first three years. This struggle highlighted the competitive landscape and the need for innovative strategies to differentiate One Championship from established competitors.
  • The total addressable market (TAM) represents the maximum potential revenue opportunity for a product or service within a specific market. For One Championship, understanding their TAM was crucial in assessing the size of the audience they could potentially reach with their martial arts promotion. In the context of securing investors, demonstrating a clear understanding of their TAM would have helped One Championship showcase the growth potential and attractiveness of their business model. By grasping the TAM, companies can better strategize their market approach and tailor their efforts to capture a significant share of the available market.
  • Chatri's mother's encouragement served as a source of inspiration for him during challenging times, including investor meetings. While not directly mentioned in the context of investor meetings, her support likely played a role in boosting his morale and determination to persevere in the face of obstacles. Her history of overcoming adversity may have instilled in Chatri a sense of resilience and belief in overcoming difficulties. This familial support could have provided him with emotional strength and motivation to continue pursuing his goals despite facing numerous rejections.
  • One Championship focused on authenticity in their digital content, allowing fighters to showcase their real stories without manufactured drama. They leveraged strong emotions like laughter through organic outtakes and highlights to engage their audience. By breaking viewership records with viral martial arts videos, they attracted a passionate fanbase and proved traction to broadcasters. The organization capitalized on the growth of mobile devices and social media by producing mobile-friendly content, targeting their Millennial and Gen Z audience effectively.
  • One Championship utilized viral martial arts videos to attract a large audience and generate significant online engagement. These videos showcased the skills, personalities, and stories of the fighters, resonating wi ...

Counterarguments

  • While Chatri Sityodtong's persistence is commendable, it's possible that the initial lack of investor interest could have been due to a lack of a clear business model or proof of concept that could compete with established organizations like UFC.
  • The emphasis on social media and digital content is a strong strategy, but it may not be enough on its own to sustain long-term growth without a solid underlying business model and revenue streams.
  • Authenticity in content creation is important, but there is a risk that without some level of narrative or drama, the content may not engage casual viewers as effectively as more produced content might.
  • The success in breaking viewership records with 2.3 billion organic video views is impressive, but these metrics can sometimes be misleading and may not directly translate to a sustainable increase in revenue or profit.
  • The focus on mobile-friendly content is strategic, but it may also limit the viewing experience for fans who prefer or are used to watching sports on larger screens with higher production values.
  • Achieving mainstream status akin to the Super Bowl is an ambitious goal, but it may be overly opt ...

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#814: Chatri Sityodtong, CEO of ONE Championship — From Dirt Poor to Top-10 Sports-Media Franchise, The $100M Breakfast, Dominating Social Media (30B+ Views/Year), Key Strategic Decisions, and the Moneyball of Fight Matchmaking

One Championship's Success: Partnerships, Digital Focus, Unique Programming

ONE Championship distinguishes itself as one of the top 10 biggest sports media properties in the world by leveraging impactful partnerships, enhancing its digital footprint, and offering innovative programming that resonates with a global audience.

Cultivating Influential Partnerships to Expand Reach and Credibility

Chatri Sityodtong shares his journey with ONE Championship, focusing on how effective partnerships have propelled its global reach and credibility.

Key Deals With Amazon Prime, Sky Sports, and Regional Networks Ensured Global Distribution

Broadcasting live in 190 countries each week, ONE Championship has secured major deals with Amazon Prime and Sky Sports, and has connected with various regional networks, such as Unix in Japan and Channel 7 in Thailand. Tim Ferriss's first exposure to ONE Championship on Amazon Prime underscores the effectiveness of these partnerships. Chatri highlights the importance of deep and strong partnerships, enhanced weekly through cross-departmental meetings focused on programming, marketing, and sales, positioning the show's value to draw premium viewership and cultural relevance.

Crucial Funding and Validation From Sequoia Capital's Michael Moritz and Douglas Leone

A pivotal moment in ONE Championship's history was the "hockey stick charts" elevator encounter leading to Sequoia Asia's initial investment of $15 million, which was just the beginning. Sequoia Capital Asia, and particularly managing partner Shailendra Singh, played a vital role in setting up a meeting between Chatri and Sequoia's legendary investors, Michael Moritz and Douglas Leone. The result was a $100 million investment from Sequoia's main Silicon Valley fund at a valuation of around one billion dollars. This funding validated the company's potential and had a significant impact on its journey.

Government and Tourist Board Collaborations Supported one Championship's Live Events

Chatri also delves into how collaborations with government entities, such as Qatar's government investing in ONE Championship, bolster the organization's live events. Noteworthy moments include the warm welcome organized for Tang Kai by the government, reflecting their active support.

Crafting a Differentiated Fight Experience to Captivate Audiences

To captivate its audience, ONE Championship curates a unique fight experience that prioritizes finishing rates and the "killer instinct" of fighters.

One Championship Focuses On 70% Fight Finish Rate

Chatri Sityodtong notes the organization's impressive 70% finish rate, indicating decisive outcomes in fights rather than scoring points. The promotion's commitment to "barn burners" where fighters seem to contend for their lives results in an incredibly engaging spectator sport.

Company Signs Fighters With "Killer Instinct" and Style

ONE Championship scouts and signs top martial artists worldwide, with criteria focused on killer instincts and high finish rates. Athletes like the Rooktang and the rural Totro brothers embody this, striving for self-defense and finishing their opponents. Tim Ferriss also mentions the prowess of fighters like Stamp Fairtex, contributing to the raw appeal of the fights.

Pregame Speeches and Storytelling Connect With Fighters' Emotions and Motivations

Rounding off the immersive experience, Chatri personalizes his leadership by delivering pregame speeches, rallying fighters around their years of sacrifice, love for their craft, and the opportunity to imprint their legacy on the world stage.

L ...

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One Championship's Success: Partnerships, Digital Focus, Unique Programming

Additional Materials

Clarifications

  • Sequoia Asia's initial investment of $15 million was a significant financial backing provided to ONE Championship at an early stage of the company's growth. This investment helped kickstart the company's journey and signaled confidence from a renowned venture capital firm in the potential of ONE Championship. The funding was crucial in supporting the organization's expansion and development of its unique programming and global reach.
  • Sequoia Capital Asia is a prominent venture capital firm that invests in technology companies. Shailendra Singh is a managing partner at Sequoia Capital Asia, responsible for overseeing investments and working closely with portfolio companies to help them grow. Venture capital firms like Sequoia provide funding and strategic guidance to startups and high-growth companies. Singh's role involves identifying promising investment opportunities and supporting the development of the companies in which Sequoia invests.
  • Sequoia Capital's main Silicon Valley fund invested $100 million in ONE Championship at a valuation of around one billion dollars. This means that Sequoia Capital purchased a significant stake in ONE Championship for $100 million, valuing the company at approximately $1 billion. This investment helped validate ONE Championship's potential and contributed to its growth and success.
  • Tang Kai is a fighter associated with ONE Championship. The warm welcome organized by the government for Tang Kai signifies the support and recognition extended by the government towards the athlete, showcasing the significance of government collaborations in promoting live events in the sports industry. This gesture highlights the value placed on athletes and events by governmental entities, contributing to the overall success and appeal of sports organizations like ONE Championship.
  • Chatri Sityodtong, the founder of ONE Championship, experienced a significant transformation in his life from a financially challenging background to achieving wealth. This journey reflect ...

Counterarguments

  • While partnerships with major platforms like Amazon Prime and Sky Sports are impressive, they may not guarantee viewer engagement or long-term growth if the content does not consistently meet audience expectations.
  • A $100 million investment from Sequoia Capital is a strong vote of confidence, but it also increases the pressure on ONE Championship to deliver returns, which could potentially lead to prioritizing profit over the sport's integrity or athlete welfare.
  • Government collaborations can be beneficial, but they may also lead to conflicts of interest or compromise the perceived independence of the organization.
  • A 70% fight finish rate indicates excitement and decisive outcomes, but it could also raise concerns about fighter safety and the potential for encouraging overly aggressive tactics that may not be sustainable or healthy for fighters in the long term.
  • Signing fighters based on their "killer instinct" may contribute to a thrilling spectacle, but it could also perpetuate a narrow view of martial arts that overlooks the technical and strategic aspects of the sport.
  • Pregame speeches and storytelling that connect with fighters' emotions are powerful, but they can sometimes create an undue pressure on fighters to perform or conform to certain narratives.
  • Emphasizing martial arts values is commendable, but there may be instances where the ...

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