Podcast Summary: Going Big! with Kevin Gentry – Episode Featuring Alan Smolininski: From Immigrant Roots to Dodger Ownership and Beyond

In this compelling episode of Going Big! hosted by Kevin Gentry, Alan Smolininski shares his inspiring journey from his immigrant roots in Argentina to becoming a co-owner of the Los Angeles Dodgers. The conversation delves deep into themes of resilience, entrepreneurship, philanthropy, and unwavering optimism, providing listeners with valuable insights and motivation to pursue their own big dreams.

1. Immigrant Roots and the American Dream

Alan begins by recounting his father's courageous move from Argentina to the United States in 1963. Facing adversity due to his father's appearance and the socio-political climate in Argentina, his father sought better opportunities in America. Alan shares, “I think that knowing how my parents grew up and everything they struggled and had to go through... it sets the tone for me and my worldview” ([00:25]).

His parents’ journey embodies the quintessential American Dream, underscored by hard work and perseverance. Alan emphasizes the sacrifices his parents made to provide a better life for their children, highlighting the success of their small garment business which afforded him and his sister educational opportunities and a safe upbringing.

2. Personal Challenges and Entrepreneurial Spirit

Contrary to the typical success story, Alan was not a stellar student. He admits, “I was expelled twice before the age of 13” ([07:53]). Despite academic struggles, his entrepreneurial spirit thrived. Alan attributes his resilience to his immigrant upbringing and natural disposition to challenge the status quo. This unconventional path led him to co-found a successful real estate business while still in college, which he later sold in 2008 just before the financial crisis hit. Reflecting on this, he notes, “it was about luck really” ([12:38]).

3. Value Investing Philosophy

Alan’s investment strategies are deeply influenced by legendary investors like Warren Buffett and Charlie Munger. From a young age, his father introduced him to the nuances of value investing, instilling principles such as patience, conservative decision-making, and seeking intrinsic value. He states, “Creating a margin of safety, doing things conservatively, finding value, being very, very patient” ([14:29]). This philosophy not only guided his successful exit from the real estate market but also shaped his approach to subsequent investments, including his role with the Dodgers.

4. Acquisition and Involvement with the Los Angeles Dodgers

The acquisition of the Dodgers marked a significant milestone in Alan’s career. Motivated by his father’s battle with cancer, Alan sought to leave a lasting legacy. He explains, “after he had passed, it really changes your view on mortality, on not being a dress rehearsal” ([20:37]). Partnering with prominent figures like Billie Jean King and Magic Johnson, Alan helped steer the team towards creating value and enhancing community engagement. His strategic approach emphasizes contributing to the organization beyond mere ownership, focusing on solving small problems and fostering a supportive environment.

5. Philanthropy and Social Impact

Alan and his wife, Caroline, prioritize philanthropy, particularly in areas of poverty alleviation and immigration reform. Through their partnership with Stand Together, they support programs like Rising Tide, which empowers individuals from impoverished backgrounds to start and sustain their own businesses. Alan shares, “we are going to give away almost everything” ([27:37]), highlighting their commitment to societal betterment over personal wealth accumulation.

A notable initiative discussed is the mass naturalization ceremony held at Dodger Stadium, which celebrated over 2,100 new citizens from more than 100 countries. Alan elaborates on the emotional and patriotic significance of these ceremonies, stating, “it's a real way to highlight the contributions of immigrants and how patriotic they are” ([31:28]).

6. Resilience in the Face of Disaster

The episode also touches on the devastating Palisades fire, which obliterated much of Alan’s hometown. He vividly describes the destruction, likening it to “Hiroshima” ([36:12]). Despite the immense loss, Alan’s focus remains on rebuilding and supporting the community. He continues to run the Palisades newspaper, transforming it into a beacon of hope by reporting on community rebuilding efforts and fostering a sense of unity among survivors.

7. Optimism and Vision for the Future

Alan’s optimism shines through as he discusses the future of America and technological advancements. He confidently states, “I'm very bullish on AI... this country... it's going to be very bright” ([40:43]). His positive outlook is rooted in his belief in America’s resilience and continuous improvement, fueled by his immigrant mindset and personal experiences.

8. Advice for Aspiring Entrepreneurs

Wrapping up the conversation, Alan offers heartfelt advice to budding entrepreneurs:

• Leverage Modern Resources: “Entrepreneurs today have a huge advantage... YouTube and Wikipedia” ([45:18]).
• Seek Mentorship: “Reach out to people that have had success in that field and try to meet with them” ([45:18]).
• Persistence: “You can't give up because all you're going to do is be told no a thousand times” ([45:18]).
• Passion: “You have to be really into it... you have to become that nerd in that field” ([45:18]).

His guidance emphasizes the importance of relentless pursuit, continuous learning, and genuine passion in achieving entrepreneurial success.

Conclusion

Alan Smolininski’s story is a testament to the power of resilience, strategic thinking, and the profound impact of having strong role models. From overcoming early academic challenges to making significant strides in business and philanthropy, Alan exemplifies what it means to truly go big. His unwavering optimism and dedication to creating value not only inspire but also provide a roadmap for others aspiring to make their mark.

Notable Quotes:

• “I'm very bullish on this country... it's hard not to be an optimist here.” ([00:25], [40:43])
• “You have to be really into it... you have to become that nerd in that field.” ([45:18])

This episode of Going Big! serves as a powerful reminder that with determination, the right mindset, and a commitment to giving back, extraordinary achievements are within reach.