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Jay Shetty PodcastJay Shetty Podcast

Jay-Z's Business Partner: How To Transform Your Passion Into Profit (& make MILLIONS)

In this episode, we welcome Fanatics CEO Michael Rubin: a distinguished businessman and social justice advocate known for spearheading several multibillion-dollar direct-to-consumer ventures, specifically in licensed merchandise, trading…

Michael RubinguestJay Shettyhost
Dec 18, 202344mWatch on YouTube

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At a glance

WHAT IT’S REALLY ABOUT

Michael Rubin on bold goals, talent, consumer focus, and impact

  1. Michael Rubin describes entrepreneurship as having the courage to fail, taking action instead of making excuses, and learning through repeated attempts.
  2. He argues that building winning companies depends heavily on recruiting top talent, aligning on values, and using pattern recognition to evaluate people and predict outcomes.
  3. He explains how Fanatics looked for stagnant markets—like trading cards—and applied innovation and marketing to modernize the consumer experience while still valuing physical products.
  4. He says he is motivated less by net worth and more by loving the work, setting audacious goals, and constantly focusing on what his company can improve for consumers.
  5. He shares how a personal experience with Meek Mill’s court case led him to pursue criminal justice reform through Reform Alliance with a business-like focus on measurable results.

IDEAS WORTH REMEMBERING

5 ideas

Entrepreneurship starts with taking the at-bat and accepting failure.

He says many people stop at “I’ve got this great idea, but…,” and he views that hesitation as the first big barrier to entrepreneurship. In his view, you have to take the swing, expect some failure, and use those failures to improve.

Unrelenting persistence and bold goals are central to how he measures progress.

He repeatedly describes himself as “unrelenting,” saying he has survived near-bankruptcy and “epic failures” because he won’t quit. He argues that difficult, audacious goals drive better strategies and progress, while easy goals signal you’re choosing to fail.

Winning depends on recruiting leaders who match the culture and values.

He says he spends 10–20% of a 70–90 hour workweek interviewing because “you can’t win without great talent.” Beyond skills and intellect, he looks for leadership, shared values, long-term commitment, and people who will “figure out how to win.”

Pattern recognition—especially through independent back-channel learning—guides decisions.

He frames pattern recognition as predictive and says it’s core to how he evaluates executives: he does not ask candidates for references, instead calling shared contacts to learn “behind the scenes” patterns. He extends the same idea to observing customers and trends by constantly asking questions of everyday people.

Innovation can be tangible; modernizing old experiences creates opportunity.

In collectibles, he describes a lack of innovation and marketing before Fanatics’ entry, and calls that stagnation “opportunity.” He gives an example: debut jersey patches being pulled after a player’s first game and placed into a one-of-one trading card, showing innovation can be physical, not just digital.

WORDS WORTH SAVING

5 quotes

Part of being an entrepreneur is to have the courage to fail. If you're afraid to fail, you ain't gonna do shit.

— Michael Rubin

There are so many things that I should not have succeeded at, but I have because I, I won't quit.

— Michael Rubin

Listen, the most important thing is enjoying what you do every day.

— Michael Rubin

If you set goals that are easy to accomplish, then you're actually saying you wanna fail to start with.

— Michael Rubin

Our children have become less imaginative about how to problem solve, and parents and coaches have become more directive in trying to tell them how to behave versus teaching them how to behave

— Unattributed

Read the available transcript
Early entrepreneurial “side hustles”Courage to fail and persistenceTalent recruiting and culture fitPattern recognition and back-channel diligenceCollectibles/trading card innovationConsumer-first focus as a business modelReform Alliance and probation/parole reform goals

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SPEAKERS

  • Michael Rubin

    guest

    Entrepreneur and CEO of Fanatics; sports commerce and collectibles executive.

  • Jay Shetty

    host

    Podcast host and author; former monk and wellness speaker behind 'On Purpose'.

High quality AI-generated summary created from speaker-labeled transcript.

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