Battier among retired NBA stars entering the tech sector as investors
TORONTO – When Shane Battier was drafted by the Memphis Grizzlies in 2001, no one in the NBA locker rooms or clubhouses was discussing business.
Nine years after his retirement, Battier says the culture of professional basketball has changed radically.
“Now, guys like Carmelo Anthony and Steph Curry and Kevin Durant, LeBron James, guys who talk about ownership, you know what LLPs are,” said Battier, who won NBA titles with James on the Miami Heat in 2012 and 2013. “Using their platform to grow their brand and leverage their capital for many more millions and that’s great.
“These young guys have great, great role models now.”
Battier has become a leader in that movement, investing in several technology companies. He was in Toronto last week as a speaker at Collision, an annual tech conference that has been at the Enercare Center since 2019. Baron Davis, who played in the NBA from 1999 to 2012, also spoke at Collision last week.
“Many of the lessons I’ve learned and my journey as a basketball player can be applied in the boardroom and in the coffee room,” said Battier. “So I try to make culture building, leadership, winning accessible to everyone.”
Kai Bond is a partner of Courtside Ventures, an early stage fund investing in sports, lifestyle and gaming. He was also at Collision talking about how athletes approaching the end of their playing days make ideal investors.
“There is a parallel between great athletes and great investors,” Bond said. “As with Courtside, we are a team of five. We all need to be individually excellent at what we do, but we all need to know that we play as one team.”
In addition to a built-in understanding of teamwork, Bond believes elite athletes have a stronger mindset better suited to investing because they can have a level of commitment that most other people don’t.
“You have to find people who are doing diligent work,” Bond said. “They have to have that mindset that it’s almost impossible to be successful at what you do but suspend your disbelief to put yourself in a position to succeed.
“The rigor to keep getting better and sharpen your craft.”
For Battier, that stems from a passion for technology that predates his NBA days. He said many of his friends went into the tech industry after graduating from Duke University, their alma mater.
“I’m a nerd at heart,” said Battier, standing on the floor of the Enercare Center. “I have always been interested in the newest and latest gadgets, devices or software that can make my life easier.
“I have a genuine interest in technology and how it can improve our lives.”
Cryptocurrency and blockchain technology were all the rage at the 2022 edition of Collision, but Battier said artificial intelligence was the centerpiece of this year’s conference.
“Everyone you talk to is thinking about what our AI strategy is? What does it mean? How much are we investing in generative AI?” Battier said. “Knowing it’s only going to get better and if you don’t, you’re standing by the side of the road.”
Battier said he’s already started using AI as a critical reader for a book he’s writing that is part memoir and part leadership guide.
This report from The Canadian Press was first published on July 3, 2023.
