Going Big with Alan Smolinisky: From Immigrant Roots to Dodger Ownership and Beyond

Summary

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.

Transcript

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[Alan Smolininski]

I'm very bullish on this country. Even though we are incredibly divided. This system works, this economy works. It's got a lot of problems, but America's not the one to bet against. Always comes back, always improving. You know, I'm honestly optimistic about my hometown and seeing the Palisades rebuild and people come together. And I already saw six houses framing when I drove through last week. And I don't know, it just gave me an incredible feeling, like were so resilient, you know, so it's hard not to be an optimist here. I think also having that sort of immigrant frame of mind, you know, it lasts a generation. They say it doesn't last too. But I think that knowing how my parents grew up and everything they struggled and had to go through, it kind of sets the tone for me and my worldview of everything that boy, it'd be a lot worse if we were still in Argentina. It'd be a lot worse if, you know, my parents were still struggling and we didn't have everything we're blessed to have in the United States.

[Kevin Gentry]

Welcome to the Going Big Podcast. I'm your host, Kevin Gentry, and this is the place where we celebrate bold moves and big ideas. Each week, I sit down with inspiring leaders, entrepreneurs and change makers who are making a significant impact in their careers and in their communities. Whether you're looking to level up your leadership, pursue your passion, or just get inspired to take your next big leap, this is where those stories come to life. Now, if you're listening on iTunes, YouTube, or anywhere else you tune into podcasts, be sure to hit that subscribe button so you'll never miss an episode. Now let's dive in to what it means to truly go big.

[Host/Interviewer]

Well, ladies and gentlemen, our guest today exactly exemplifies the spirit of the Going Big podcast. Alan Spolininski is the son of immigrant parents from Argentina who taught him to love baseball and to love America as the greatest country on earth. And today, Alan Smolin is a highly accomplished investor and entrepreneur and a co owner of the Los Angeles Dodgers. It's a great American dream story. Alan, to get us started, tell us a little bit about your Parents journey to America, especially your dad, the whole story of him coming from Argentina to arrive here and then eventually, ultimately raise you.

[Alan Smolininski]

Absolutely. It's one of my favorite stories to tell. So my father arrived in the United States on October 28, 1963. He was 17 years old. My dad was born with skin discolorations and hemangiomas across his face and neck. So kind of like bubbles and discoloration. So he was made fun of a lot as a kid and bullied and stared at. And they were born very poor. They were Jewish in a country that is not very friendly to Jews. And he sort of saw the writing on the wall for Argentina that he didn't have a bright future there, no opportunity, a lot of instability. And he had this dream about going to this magical place where you could work hard and have opportunity. And he saw that opportunity when his father's brother Sam moved to Los Angeles. So my dad would write Sam letters. Can I come stay with you? I promise I'll work hard, whatever you need. And finally Sam wrote back and said, okay. So my dad saved up every penny he could and, and came to the United States. It was his first time outside of Argentina, first time on a plane. And so when he arrived, Uncle Sam told him, well, there's two areas that, that Jews can find work in in Los Angeles. And one is clothing, which was called the shmata business. And the other was called. Was. Was the jewelry business. So my dad said, well, that's funny. It's the same as in Argentina. Must be some international law. So my dad, on his very first morning, went down to 4th and Spring street in downtown Los Angeles, got his Social Security card. I have that card framed behind my desk. And started knocking on doors in the garment district looking for work. And by his third or fourth door, he got hired as a janitor for $1.25 an hour. He didn't speak a word of English. He had a third grade education, no skills, no trade, obviously, no connections. And he had arrived all by himself the night before. So he started working, and he badly wanted to learn English, and he also wanted to feel American, you know. And so he started adopting all the American things. And he said, well, if you're going to be a true American, you have to love baseball. So he started listening to Dodger games as he swept the floors in the garment district and fell in love with Vin Scully's voice. And the way he spoke was very slow, easy to understand. And he sort of called him his English teacher. Since then, I've met dozens of immigrants that told me they have the exact same story of listening to Vince Gully to learn English. And so he worked his way up. He became the manager of the shipping department. He learned about buttons and zippers. And to be a true American, he thought, you have to be an entrepreneur. You have to own your own business. And that was always his dream. So my mother came with her father, mother and two sisters in 1961, also from Argentina, also very poor. And her father had this idea of, we gotta be American. And the best way to be American, you gotta see the country. So what we'll do is we'll go to New York, and then we'll get off the boat and then we'll drive all the way to la and, you know, thinking it was probably a few hours, not really realizing how large the country was. And so it turned into this whole debacle where they run out of money and the car breaks. You know, it's tough to know fact from fiction in many immigrant families of exactly how bad it was. But they arrived in Los Angeles. And so when my parents met, they met at an Argentine club to watch soccer, because soccer is like religion in Argentina. And back then, you needed the satellite dish to show the game. And my dad started telling her how bad he wanted to be American. And he was gonna start his own business one day, and he was gonna make it. And so my mom was an extremely hard worker. Saved every penny. Still to this day, she probably has her first paycheck. And they used all of her savings from her work and his work to start a very small garment business. And then that business turned out to be successful enough to give my sister and I all the opportunities that they never have. So we got to. Our parents paid 100% of our tuition. We got to grow up in a beautiful neighborhood and have loving parents with us all the time. And so it was the true American dream.

[Host/Interviewer]

Well, we all love those American dream stories and the rags to riches stories. In this case, it really was rags to riches. Tell us about you. So your parents came in 1961, 1963. Tell us more about you growing up in America, where you, a gifted student, a great student in school. Was that a big predictor of your success?

[Alan Smolininski]

So I was not good in school. I had a lot of problems in school. I was expelled twice before the age of 13. And that's hard to do because I've never tried a drug in my life. I don't drink. I've never tried a cigarette. I've never been in a fight. I Don't ditch class. So you're saying, well, how the hell do you get expelled twice if you don't do anything that gets people expelled? But it's actually the same skill set that you use as an entrepreneur. And having the sort of headstrong Argentine blood. And being an entrepreneur, I just think I know a better way to do everything. It's very rare that I can see something and go, yeah, that's perfect. I just think, no, you should do it this way. Nah, that's wrong. And so that challenging of authority, the challenging of ideas, always thinking, I don't think you're doing this well, and then having that mouth where I can't keep it to myself, that led to a lot of problems. So it really helps as an entrepreneur to see the world that way. It does not help in a school where you're supposed to sit with your hands still when you think that way. And your, you know, ADHD didn't really exist back then, but I could be in the textbook for it. So it led to a lot of problems. And it was really tough on my parents because immigrants really want education for their children. And my sister was getting straight A's, went to a top university, top law school, went to a top white shoe law firm. She, she followed the path of the children of immigrants. But I just said, I don't need any of this school stuff. I'm not going to be a scientist. I'm not. I don't need any of this. I need some math. But I'm ready to get out and hustle and start businesses. And my dad was like Superman, you know, he was my hero. I just wanted to be like him. And I'm looking at him, he can barely read and write. He's got this third grade education and he's making deals and he's running this garment business. And so I was just ready to get out and hustled.

[Host/Interviewer]

Well, you know, I, I gotta tell you, this is a recurring theme on the Going Big podcast, something I didn't expect, but especially among entrepreneurs, the challenges and finding their gift. And then it's. And it doesn't. I had Todd Rose on recently, and it's certainly not working toward the average. All right, so you go to the University of Southern California, usc. It sounds like you did not follow the path of a typical college student. Instead you said, well, I'm in college. I'm going to go into commercial real estate. Tell us a little bit about that.

[Alan Smolininski]

Sure. So I was at usc. I was a freshman, and my best friend who had gone to my high school, was a few years older than me, and when I got to sc, I was there maybe a month or two. And he said, where are you going to live next school year? I said, I just got here, I have no idea where I'm going to live. He said, no, you got to figure it out right now because you're not going to have anywhere to live. Because at the time USC only housed freshmen. So I said, where do you live? He says, well, there's this great set of buildings right behind the Shrine Auditorium where they used to do the Academy Awards, and they're run by this Chinese entrepreneur and they're really nice buildings and he really cares. He does a great job. And they're more expensive, but you get a lot more value. And I said, great, let's go check it out. So I walked into the office and I said, I'd like an apartment for next year. And they said, great. You know, we start leasing March 6th, you can get your sleeping bag out there March 3rd, sleep out there a few nights, maybe you get lucky and you get an apartment. And I said, wow, that's a lot of demand. That is a very healthy business that he's running. And you know, Chinese and Jews are very, very similar cultures, very similar worldviews, very similar values around education, around business, around family. So I started hanging out with, with. His name is Brian. And I started hanging out with Brian all the time. And he was born in Taiwan, came here at 14 and just saying, you know, we've got such a business here. Why aren't you building and adding new properties? And so he said, well, I don't really know how to do that. I don't want to start building and learn a new business. I said, all right, I'll figure it out. We'll be partners and we'll build this whole business. Now, I didn't know anybody in real estate. I never met anyone in real estate. I'd never built anything. I was studying music at the music school, zero qualifications. But I knew there was a hell of a business there with all those people sleeping outside. And I saw what he was doing and it reminded me of Starbucks selling a cup of coffee for $4 when the gas station, coffee's a dollar, but the gas station doesn't have a line for their coffee and Starbucks does. And that's what Brian was doing. He was, it was a win win. He was creating. It was an all inclusive. It was very clean buildings, very safe buildings. And so we partnered and we built 1 and then 2 and then 10 and then 20. And then we moved to another campus at UC Santa Barbara. And before we knew it, we had this enormous business going and it was just a ton of fun building it.

[Host/Interviewer]

Well, okay, so you built this incredible business and then you sold it in 2008. Perfect timing. The housing crisis, the financial crisis happens in 2008. 9, 10. What, what? Help us understand how you thought about that. The exit was it what? Tell us about that.

[Alan Smolininski]

So we didn't see it coming. But the numbers in commercial real estate started getting really stupid. And deep in our heart, we're value investors. So Brian and I have worshiped Warren Buffett and Charlie Munger from a very, very young age. I named my firstborn after Charlie Munger. So always looking at value. And when the numbers got so dumb that people that brokers and bankers were calling us with, we said, all right, we'll entertain it and if somebody wants to pay these kind of prices, sure, we'll get out of the business. Not really thinking it would happen. And the final piece, it was about $100 million that was non refundable was received three days before Lehman Brothers failed. And in 2008 that was sort of, wow, major, major event. We didn't see anything coming. We had no idea anything was going on. It was just that these numbers made no sense to stay in the business. So we sold it and then it was a good time to have a lot of capital because the whole world was on sale. Any asset anywhere in the world, from stocks to real estate, anything you wanted to buy was, was in the bargain bin. And so that's. It was just luck really.

[Host/Interviewer]

All right, so, but, but you, you're well known as a value investor. You mentioned Warren Buffett and Charlie Munger, Benjamin Graham. Tell us a little bit, maybe even how you came to that view. And does that shape how you look at risk, you look at opportunity? Tell us a little bit about that.

[Alan Smolininski]

Yeah, so from a young age, my dad would bring Forbes home for me and every October was the Forbes 400. And I would tear through it. I read the biography of all 400 guys. I love the write ups. There was no Internet back then, so you couldn't do more research. But I sort of knew who everybody was and what business they created. And so quickly you see this guy, Warren Buffett at the top of the list and he hasn't created anything. Like he hasn't started a company, right? You see Bill Gates and you say Microsoft or Phil Knight, you say, yeah, he created Nike. Everybody knows what that is. But Then you see this guy that's just doing investments, and you're like, okay, he's figured something out. So I just started reading every book about Warren Buffett. I started reading his annual letters. They would host these shareholder meetings that I would go attend and try to ask a question. So that was sort of the beginning of it. And then it kind of becomes like a cult. Charlie Munger would make fun of us as cult members, but it really does become sort of a religion, not just in how you see investments, but sort of how you see life and how your values are. And so I just, from a very young age, was always thinking the way Warren was thinking. Creating a margin of safety, doing things conservatively, finding value, being very, very patient. And so we would sit for a couple years at a time without making a single investment, see some opportunity, and then sort of go all in. And then the other thing we did was we weren't really diversifying. So when we building the real estate business, we never raised a penny in capital. We just used debt and our own money, and so we got to own 100% of it. And then our motivations were always, does this investment make sense? Are we going to get a great return? Otherwise, we'll just sit out. We don't need to invest for the sake of investing.

[Host/Interviewer]

So, as you know, this is the Going Big podcast. People who cast a big, bold vision, set big, hairy, audacious goals, have big strategies, go big. Is that how you went big? I mean, tell us your concept of going big. You were dreaming big by even thinking and reading Forbes and thinking about Warren Buffett, but yet, as a valued investor, give us your interpretation of going big.

[Alan Smolininski]

Yeah, so I think, first off, it's great to be an entrepreneur at a very young age. You know, I was 19 when we started. Brian was even younger when he originally started. By the time we were partners, he was 27. But in some ways, you're foolish enough to go really big and sign personal guarantees because you don't have anything to lose. You don't have a wife or a mortgage or children. So it's very strategic. Sometimes it's a great idea to go very big as an entrepreneur when you're young. But I think going big is like my best friend likes to say, this isn't a dress rehearsal. We get one shot here, and then it's going to be over. And so if you think backwards and you're laying there, hopefully with your children, your grandchildren, everybody you love, and you're saying goodbye, you're not going to say that you had these regrets or I wish I went bigger. I wish I would have tried something else to go bigger and follow a dream. And so I'm always in that mindset of I want to go really big because I don't want there to be any regrets when I'm sitting there. I want, I want to be able to say, wow, I did it all. I can't believe we got this done and that done. And, yeah, we failed at this. But I know I gave it a shot, I did my best and it didn't work. And I think that's. That's a great way to live life.

[Host/Interviewer]

Indeed. Well, ever since I've known you, Alan, you've got a lot of energy. You're thinking all the time, all these different ideas. You're always very positive. What, what are you doing Now After, After 2008? Update us on what's going on these days.

[Alan Smolininski]

Yeah, it's the same sort of thing. Looking at a number of businesses, helping around the Dodgers, where I can still running a large real estate business in 18 states, watching publicly traded securities and the debt markets every morning, looking for opportunities there. There's a public company that we're working very hard on that we're getting involved in, still trying to do more in the sports, professional sports business in the US So kind of looking at everything a bit agnostic like Warren and Charlie, in that I'll look at any opportunity that makes sense. And also something that's fun, right, that I can be involved in, that I can add value in that, create value. That's what I really get high from now is creating value. It doesn't matter which of our business it is. If I'm around the stadium and I'm meeting with someone and they're having some sort of problem and I feel like I can add some value or bring somebody in and I do that. That feels great. Feels the same as if I do it in the real estate business, the securities business, any of our businesses. It's a really nice feeling, feeling like you are contributing and creating value.

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[Host/Interviewer]

All right. So speaking of creating value and having fun, tell us a little bit more about the story of acquiring the Los Angeles Dodgers. You, together with Billie Jean King and Magic Johnson, formed this group. That's an amazing story in and of itself. Congratulations, by the way, on your extraordinary success. But also you're now in this effort with Nike founder Phil Knight with this huge effort to buy the Portland Trailblazers. Tell us a little bit about what's going on in the sports world and how you think about that in terms of going big, but how you think about it differently.

[Alan Smolininski]

Sure. So the way it all started was in 2016, my dad got sick and he called us in May and I said, you got to come over to the house right now. We got to talk. And he told us that he had lung cancer, non small cell lung cancer, and that it had spread everywhere and they just found it. And you know, my dad was running 30 miles a week, very healthy, and it went very, very fast. Start to finish was five months. And we had a lot of notice that, you know, it was just going to be a few days. And during those few days, my dad was 100% conscious, present brilliant. And we talked a lot. We talked a lot, a lot. And after he had passed, it really changes your view on, on mortality, on not being a dress rehearsal, on you seeing that that's gonna be you and the next generation with the kids and the grandkids around. And so after that happened, I started saying, you know, I want to go big, right? I want to go really big. And I've been a die hard sports fan. I've been to a, know hundreds and hundreds of Dodger games with my dad. And I had read in Bloomberg that they were looking for a strategic partner for a few years. Nothing was happening. Our chairman, Mark had already, you know, he had bought the team in 2012 and they were looking to bring somebody in. And so I started talking to bankers and meeting and saying, hey, I want to do something in sports. I'm not sure exactly what I want to do. And my sports banker told me at the time, you never get your team, kid. So you just be aware of that. You know, we'll get you in somewhere and people will like you and you'll add value and then you'll get promoted and then, but don't, don't think you're going to get your team. And then he said, you're not going to believe it. I got the assignment for the Dodgers now, but don't get your hopes up. So we started doing meetings and we Ended up getting it done. And it's just been an absolute dream come true and very, very exciting. The Portland opportunity. Phil and I had been friends for a while. We had gone for lots of walks together and talked a lot of tennis, talked sports all the time. And so I pitched him on the Trailblazers one day and just said, you know, it's being sold. Paul Allen, Microsoft co founder, had died way too young, and the team was being sold by a trust and the money was going to go to charity. You're Mr. Portland, and I've got several years experience in the sports business now, and I think we could add some value. There's some real estate that we could make real nice. And. And he liked it. And so we started working on it. This was probably three, four years ago, and I'm still working on it. Who's on a call yesterday? So we'll see what happens. You know, sports values have really, really grown since. Since my first Dodger deal. And a lot of the things I can't make work financially, the numbers are really, really wild. So we'll see what happens with this one if it ends up working on making sense or. It's just so hard to predict what happens in a process.

[Host/Interviewer]

Wow. Well, I got another question related to the Dodgers, but you mentioned again about your dad, and I hear so much as part of these podcasts how role models are so important in mentors. Tell us a little bit more about what you learned from your dad.

[Alan Smolininski]

Yeah, so I won the lottery having him as my father. You don't realize it. As a kid, my dad never missed a dinner. He was home at 6 o' clock at night every single night for dinner. He would get up at 4 in the morning, get his runs in, get to work, get everything done. I don't think he missed any of my baseball games or soccer games anywhere I played. He was the sweetest, kindest teddy bear. You know, he was just everything I strived to be as a dad and, you know, never had a chip on his shoulder, you know, everything he would turn positive. So when he was dying, he was talking about, I mean, he was talking about everything and he was talking about all the skin discolorations and all the stuff. And he said this was a great gift because it made me tough, it made me strong when those kids were making fun of me, when people were staring at me and treating me differently and I was like, what a way to look at that, you know, and so. But that, that was everything he was, that was his worldview. When my children were born. They just ran to him. They all wanted to just cuddle with him. From day one, he was just. Just so warm and. And, like, he knew everybody, right? You'd go to Starbucks. He knew every person that worked there and where they're from and where their family's from. And just kind of the mayor. When there were people fighting over this park in our town and, you know, lawsuits and the whole thing, my dad just went and settled it all. He just went and talked to all the crazies on one side, all the crazies on the other, because he was already out of business by then. And so, you know, he, like, brought everybody together, and it took, like, a year, but he got the whole thing done, like, you know, so he was. He was that kind of guy.

[Host/Interviewer]

That's amazing. Well, so this relates to. A couple of people told me that you are really focused with respect to the Dodgers on just helping the team, creating value for the team, and you like to get involved in projects that just solve little problems, help things. Anything in particular you might want to share?

[Alan Smolininski]

I mean, it's not sexy stuff, right? Because I can't add any value to the baseball department. I don't know anything. You know, I show up and have a hot dog and watch the game, but it's the same thing I do in any of the businesses if there's something falling through the cracks. So there was some team travel stuff, some aviation stuff that I. That I found a way to work in. I love reading the rules. I'm a big nerd. I just finished reading the new Trump tax code. A thousand pages. I did it cover to cover. You're looking at a grade A dork. So I like to read different rules about the CBA or how the cap works or different structures or deferments, and. And then just say, hey, have we thought of this? Have we thought of that? Are you doing it this way? And. Oh, not. Okay, let me research something. I have something I want to bring back to you. You know, so it's that kind of thing, and it's in small ways, but again, it's a great feeling, contributing, especially when things succeed. And a couple of projects I took on the last couple of years have succeeded and been really great. Or sometimes it's bringing in a sponsor in a category we don't have, and you might think, who do I know in that, you know, space? And maybe we can pull this off. And. And then when it works and you see a sign out and you go, oh, that's great, you know, I Feel really good about that. So.

[Host/Interviewer]

Yeah, well, okay. Well, I was to say let's switch gears, but not very far. And that is, you and Caroline have a heart for philanthropy and helping others, giving to others. Share a little bit about how you think about that and why you do what you do.

[Alan Smolininski]

Sure. So Caroline and I grew up very differently than the way our children are growing up. And after I sold the company, we started having real discussions about inheritance and the American dream and having to work hard. And it's still a topic I talk about with my friends all the time. And most people disagree with us and don't like our position, but we are going to give away almost everything. And the children, look, the children will have U.S. citizenship. They will have all their school and tuition paid for. They will have health care. They will have love and support. They will be ahead of 99% of the people on the planet. But we think the money can go back to society and make huge, huge differences. So once we partnered with this philanthropic organization, Stand Together, that you know very well, we started coming up with ways again where we could add value. Now, there were two areas that I felt I had some real knowledge in, and that's poverty. Seeing how my parents grew up and seeing how they were able to break through and end the cycle. And the other place is immigration and immigration reform. So the majority of our giving now is around those two issues. And so we just graduated our fifth class of entrepreneurs with a group called Rising Tide. And we find the poorest of the poor. Bring them in, teach business skills, teach them how to start a small business. Many already have a business but haven't been taught, you know, how to create a balance sheet or how to hire or how to build things. And our fifth class just graduated. We did one of the graduations at Dodger Stadium. And you'd be blown away by what these entrepreneurs are accomplishing. Someone from our first class has already bought their own home, which is, I mean, it's just mind blowing. She has 12 full time employees on the payroll. A legitimate business that is thriving. And so I get great pleasure from that. And that's a really neat tool to break poverty with. You know, it's very different from a handout or something that doesn't break the cycle. You know, a lot of these entrepreneurs, their children are seeing them build these businesses and think, wow, wow, look at my parents, they can do this, I can do this. And so it's very, very neat. And the other place is in immigration reform. And I try to do that in subtle nonpartisan ways. I do do the political thing. I meet with the two members of the Senate from the Republican side and the Democratic side that were charged with immigration policy. Met with the last White House and this White House, working with four members of the House. I'm trying to get something really small. I don't think a giant immigration reform bill is viable. I think we take a very small step like the First Step act did for criminal justice reform. So I'm working very hard on that. A lot of people are hopeless on that. I'm actually really optimistic that we can be welcoming and secure and come up. And it has to be done bipartisan. It has to have overwhelming majorities in the House and Senate for it to really have the buy in. And so one way I'm doing that is hosting naturalization ceremonies. And if you've never been to one, they are the most emotional, patriotic, rewarding experience as an American. And so a couple years ago, we hosted one at Dodger Stadium on the field.

[Host/Interviewer]

Yeah, tell us a little bit about that. I think it was in 2022, you hosted one of the biggest ever in Dodger Stadium. I've seen the footage of it, and incredibly inspiring. I want to get more and understand exactly why immigration reform is an issue important to you and good for you and the strategic approach in which you're addressing it. But tell us more about these naturalization services ceremonies.

[Alan Smolininski]

So I started going after my dad passed. I sort of retraced. I started meeting with all his friends and studying his whole history. And I wanted to go to a ceremony and just see what it was like. And I went. It was in the dark, dank convention center. You know, it was like a factory. But even in that environment, it was so emotional. Everybody was crying, everybody was singing the songs together. It was incredible. And I thought, well, this could be done a lot better. And so one of the reasons I really like doing it is it really highlights the contributions of immigrants and how patriotic they are. You know, in my family, the biggest day of the year was always fourth of July. We went huge. We had our routines, we all got dressed up. I mean, every year we ran this race, we went to this parade, we did these barbecues, we went to the fireworks. If you ever want to have a great time, find a bunch of immigrants to get with on July 4th.

[Host/Interviewer]

Absolutely. I totally agree.

[Alan Smolininski]

And so the naturalization ceremonies are a real way to highlight that. And the more people that see them and can be included in them, you see how patriotic immigrants are, regardless of where they're coming from. So I asked our team historian at the Dodgers, have we ever done. I'm sure we've done a naturalization ceremony, right? He said no. So we've had the Pope do mass. We've had presidents, we've had the State of the state, we've had the mayor's address. We are a polling place. We've had every great rock band, we've had multiple world championships. We'd have everything in the world at Dodger Stadium. We had never had a naturalization ceremony. So I got with the members of Congress that I'm constantly working on reform with, and I said, could you help me put this together? And I got it going. And it ended up being the largest naturalization ceremony since COVID began. So we had over 2,100 new citizens from over 100 countries. We had active duty military. I got the Air Force to do a flyover. Still have no idea how we got that done. We had the Navy band, We had a pre recorded message from the President of the United States for our group. And I got to give a little talk and tell my family's story. And then we got the Homeland Security arranged for the Secretary of Immigration Affairs. They changed the name of the department every year or two. So if I might have gotten that wrong. And we swore everybody in. We had Good Morning America there. We had every news channel there. And it was incredible. It was the most meaningful day of my life outside of my marriage and the birth of my children. And it was such a wonderful highlight. I mean, we had from young children. We had one guy, 91 years old, we interviewed him. Why it was so important for him at 91 to become a citizen. So doing events like that where, where everyone sees how much immigrants have to contribute and then it allows me to give all my nerdy stats. Did you know 40% of the S&P 500 was started by immigrants or the children of immigrants? Or talk about the dozens of signers of the Declaration of Independence who are immigrants, or that immigrants are much more likely, much less likely to commit a crime, much more likely to be employed, and just the economic contributions in every state. And so when you highlight those things and you figure out how broken the system is and how we haven't had reform in three decades, then you can find little ways to come to common ground and reach agreement and maybe eventually get them through Congress. So that's kind of what the naturalization ceremonies are all about. And everyone who hasn't been to one should absolutely go online, find one and just go attend. You will not Regret it.

[Host/Interviewer]

Well, here, here. And God bless you for doing it. My goodness. And ladies and gentlemen, just, just google Alan Smolin ski naturalization ceremony and see the footage, the video. It's really inspiring. And one of the things I didn't know, I mean, active duty military people who've signed up in service to the country who aren't yet citizens and then get citizenship in that process. It's so inspiring. I couldn't agree with you more about all those things, about the attributes and it's what made America great. And it's your own personal story of your parents coming here from Argentina. Okay, let's switch gears to another subject. This is a tough one. This is the Palisades fire. You all have a home there. You escaped the fire, but not. I mean it caused a lot of devastation. But you also own the Palisades newspaper which has been publishing for more than 100 years. Just, just tell us a little bit about that experience. You know, the eyes of the nation were kind of glued upon that, but. But we didn't live it. We didn't experience it. Tell us a little bit about that.

[Alan Smolininski]

Yeah, the devastation is hard to describe. I think the closest thing you could say is Hiroshima. The whole town is leveled. It's gone. We had seven schools, they're all gone. Two grocery stores, they're gone. The park that my dad taught me how to play baseball, gone. The Domino's pizza. I worked at my children's schools, it's all gone. And it's not like partially gone. It's all gone. The trees, the street signs. So I was born and raised in the Palisades. Lived my whole life there. Delivered pizzas for so long I knew every single street in the Palisades cold. And when I first got back in, I was coming up my parents street. I made a right and I had no clue where I was. You could. There's no markers, there's no trees, there's no signs, there's no homes. It's just like dirt and rubble. And you look through like five blocks that you've never looked through and you can't. You go, what street is this? How do we. Where's Sunset? I mean, it was that bad. We had about 15 minutes to get out. I grabbed my parents naturalization certificates. You don't know what to take, you know, in this digital world. I guess we're lucky that you know, right. We all got together. I really thought this was the end of it. And I was saying goodbye and I was never going to see the place again. And Trying to make peace. Every car going one direction, you know, every single lane, the way you see after a hurricane, looking in the rear view, thinking, okay, if the fire catches us, I'm sure there's pools. We can hop a fence, I'll get the, I'll throw the kids in the pool. Because all you see behind you was just this mountain coming at you. But like, that's just what's racing through your head. And then, yeah, you've got to find a new place to live, find new schools for the kids. You got to put on this fake face as a parent old, oh, it's great. We're healthy, we're safe. That's all that matters. We don't care. And then you go in the bedroom and cry and freak out. And so we did that. Two of the kids ended up at the Boys and Girls Club for a few months. One on a zoom school switch schools for one of them. It was really tough. And then what happens is you're, you're putting on that face for your kids for the first couple months and you're not feeling anything because you're just like, gotta find the school, gotta tell the kids everything's safe and perfect. And then you, you know, and then it punches you in the face. And we were very blessed that our house stood. I've got no house on two sides that burned. So dealing with smoke and ash and all that, but it's just, it's so sad seeing this town and owning the newspaper. It's like we've lost the subscribers, we've lost the advertisers, but we've become like this great beacon of hope right, where people are sending in donations. I mean, it's a print newspaper, it loses money every month. It's the most fun I've ever had losing money. But I keep it going because like you said, it's been a subscription based paper for 100 years. I can keep it going. I'm fortunate enough to be in that position. And so now it's just like, we'll run a story that a small business is reopening or the Mexican restaurant is reopening and it gives people hope and they love it and they write us letters and they go, we can't wait to hear. As things slowly come, it's almost like a huge victory if CVS starts opening a couple hours a day in the part that didn't burn. So that's mostly what the stories are. And then the army giving updates about clearing the whole town. And, and so it does still create community and people are so, so appreciative for the paper, but it's gotten. It's not a good business. It's not a business to be in, but it's a beautiful community asset, and I'll keep it going as long as I can.

[Host/Interviewer]

Well, I really applaud you, Alan. I mean, you always have this positive spirit, which is infectious. I mean, we all always are motivated by you, inspired by you. But this focus that you have on helping others and just bringing value into their lives, it's really awesome. Thank you very, very much. All right, so let's start to wrap this up. Where do you see the big opportunities, Opportunities in the future for us all? This country or more broadly, everywhere. I know you're an optimist. So as you look to the future, what excites you the most?

[Alan Smolininski]

That's tough. I mean, there's a lot to be excited. I'm very bullish on AI I'm very bullish on GLP1 drugs and eliminating heart disease and strokes everywhere. I'm very bullish on this country. Even though we are incredibly divided, this system works, this economy works. It's got a lot of problems, but America's not the one to bet against. Always comes back, always improving. You know, I'm honestly optimistic about my hometown and seeing the Palisades rebuild and people come together. And I already saw six houses framing when I drove through last week, and, I don't know, it just gave me an incredible feeling, like we're so resilient, you know, so it's hard not to be an optimist here. I think, also having that sort of immigrant frame of mind, you know, it lasts a generation. They say it doesn't last two. But I think that knowing how my parents grew up and everything they struggled and had to go through, it kind of sets the tone for me and my worldview of everything that. Boy, it'd be a lot worse if we were still in Argentina. It'd be a lot worse if, you know, my parents were still struggling and we didn't have everything we're blessed to have in the United States. So, yes, it's tough, though. I think a great entrepreneur has to be optimistic. But I am naturally very excited for the future, and I think it's going to be very bright. And if you only look at the short term or you only focus on those negatives, how. How the vitriol is and. And that everybody's so angry, and you only see the bad it. You can get lost in it. But if you look at pull out and look at the longer term. It's very, very bright.

[Host/Interviewer]

Well, back to you being a value investor and a long term investor. Very, very nice. All right, some more wrap up questions. Alan, you're still a young man, but considering a younger version of yourself, what would you tell that younger version based on what you now know today, that you might have done differently, maybe back when you were at USC or in high, or growing up, getting kicked out of school, whatever it might be.

[Alan Smolininski]

Yeah, 100%. I did things in my 20s that, you know, you start having success at a young age. You've seen a lot of this in Silicon Valley. And I think when you have success at a young age, you tend to start believing that you're extraordinary, you're so brilliant, you know, all and you behave differently. And I think that's kind of the process of life. As you get older, you attain more wisdom and you sort of start seeing that things align. For me, if I had met Brian, in any time other than the 90s, the worst real estate crash in the history of the country, what would the business have worked? Probably not. You know, if the banks weren't lending at the time, the way they hadn't been lending, the way I was able to, you know, maneuver and get it done, the way I had my parents to believe in me and that I was born in a two parent household, that, that, you know, we were not in poverty, there was plenty of food, the neighborhood was safe, they loved me unconditionally. The fact that we were all healthy for so long, you know, I think I would tell that kid there's a lot of luck involved, you know, act a little differently because I think I was, that was kind of arrogant, you know, when, when we had all that success in the business and things are so different now, you know, now everything is, you know, very. You consider all sides, even when something's heated, you go, well, maybe they're right. You know, I don't think those were ever words I said in my 20s or 30s. You go, maybe he's right. No, I'm right. And then, you know, and then also doing all the philanthropy and all the stuff that you and I met through Kevin at Stand Together, it's incredibly humbling. And you realize how blessed you are. And then you sort of have this idea of gratitude much more than I did this, you start realizing everybody around you that contributes to build something and accomplish something great.

[Host/Interviewer]

Very nice. All right, so for an aspiring entrepreneur, wherever they might be in the world, the United States, certainly, what advice would you give to them about taking risks, making small experiments, and going big.

[Alan Smolininski]

Yeah, I think entrepreneurs today have a huge advantage we didn't have back then, and that's YouTube and Wikipedia, and you can get incredible amounts of information. So you've got to learn everything. You've got to be a total pervert in your area and know every single thing in that specific niche. Then you have to be willing to go big, and you have to be willing to put everything out there and try as hard as you can. Another thing I think entrepreneurs should do, and I was so blessed to have this, is you got to reach out to people that have had success in that field and try to meet with them after you've done all the research. Don't. Don't show up to a meeting not knowing exactly who they are and what they've accomplished. Bring your questions and be prepared. You will be shocked. How many successful entrepreneurs in that field are willing to talk to you? Not all of them. I mean, you know, people might not return your call, but there will be people, and they will sit with you and they will help you and they will give you guidance and. And it will really go a long way and make you feel, you know, that you've got that wind at your back to help you. And then the last thing is, I know it sounds cliche, but you can't give up because all you're going to do is be told no a thousand times. You can't build that giant thing at usc. You can't get these companies to go south of the 10 Freeway and South LA and do all the retail you want, and you can't get the union contract, and you can't get the city approvals. You'll never get the financing. You never built anything. I mean, and all those people are right. They're completely right. But that's. That's what it is. You can't be an owner of the Dodgers, you little immigrant kid. You think you've done this, but you just keep going and going and going and going and doing things the right way and meeting people and developing a reputation and be honorable. And then it's like things just happen. You know, you can absolutely make things happen. And so it's about that, you know, not giving up and keep fighting. And then the last thing I'll add is it's got to be something you're passionate about. You have to be really into it. I've never met anyone that's been successful at something they don't enjoy. I really haven't. In all the people I've met in every entrepreneur I've never met, someone said, well, I hate the software business, but you know, I had to start this company. And no, they are so passionate about it. They want to talk about it all day long. They want to read about it all day long. You know, you have to become that nerd in that field and it has to be, it has to be authentic. I mean, you cannot fake it. So that's my, that's my advice. I hope it helps.

[Host/Interviewer]

Well, Alan Swanenski, first, congratulations to you on all that you have achieved already in your remarkable life. But thank you really, truly for inspiring us all. You're always just have this just infectious, contagious optimism and look forward to many more years of working with you and friendship and just thank you for all that you do. It's been a real pleasure having you on the Going Big podcast today.

[Alan Smolininski]

You're too kind, Kevin. And you know I'm a huge fan of yours. I love when you go around the room telling everybody's bio and connecting everybody. That is a skill set that I've never seen before on anyone. And the way you do it without note cards, all from memory, dozens of people, it is so impressive.

[Host/Interviewer]

Well, thank you. We're all continuous learners, lifelong learners. Right. It's all part of, I guess, the, the long term investment approach approach that we have. Alan, it's a real pleasure. Thanks again.

[Alan Smolininski]

Thank you. I'll see you soon.

[Kevin Gentry]

Thanks for tuning in to the Going Big Podcast. I hope today's conversation left you feeling energized and ready to tackle your biggest goals. Don't forget to subscribe and leave us a review on iTunes, YouTube or wherever you listen to podcasts. It really helps spread the word and it gets these inspiring stories out to more people. You can also find more content, resources and updates at our website, goingbigpodcast.com Remember, the only limits are the ones you don't challenge. The limits that you impose on yourself. Keep pushing, keep growing, and above all, keep Going big. See you next time on the Going Big Podcast.