Women's Soccer Investing, AI Disruption & Global Trends ft. Daniel Altman | Navigating Wealth - Navigating Wealth Recap

Podcast: Navigating Wealth

Published: 2025-11-19

Duration: 50 min

Guests: Daniel Altman

Summary

Daniel Altman discusses the economic landscape of women's soccer investing, AI impact on workforce dynamics, and global investment opportunities, with insights into real estate commission structures and international market trends.

What Happened

Daniel Altman, an economist and founding investor in Calgary Wild FC, delves into the dynamics of the women's soccer market. He explains that the growth in women's sports, particularly soccer, is driven by increasing demand for live content and the relatability of athletes through social media engagement. Altman notes the historical success of North American women's soccer teams and the untapped market potential in regions like Canada that had not previously established professional leagues.

The discussion transitions to the real estate market and the evolving landscape of realtor commissions. Altman argues the traditional 5-6% commission split is becoming outdated, as technology enables more DIY real estate transactions and rebate agents gain traction. He suggests that sellers' agents might soon offer lower commissions, mirroring the buyer's rebate agent model, to close transactions more efficiently.

Altman touches on the ongoing legal battles between real estate companies like Compass and Zillow. He highlights the potential fragmentation of the real estate market, which could impact the MLS system's cohesion, potentially leading to a deadweight loss in the economy.

On the topic of AI, Altman discusses how generative AI is affecting white-collar jobs, suggesting that while AI won't replace manual labor, it poses a threat to certain office jobs. He reflects on the historical impact of globalization and technological change, warning of potential economic dislocation if AI's impact is not managed adequately.

Altman's career journey from academia to journalism and then to active investing is outlined, showcasing his diverse expertise across industries. His transition into sports investing is fueled by his work with data in the sports sector, leading to successful investments in soccer clubs.

The Baseline Profitability Index, managed by Altman, is highlighted as a tool to assess global investment opportunities. He discusses how countries with strong governance and rapid growth, like Singapore and India, present attractive avenues for foreign direct investment.

Finally, Altman emphasizes the importance of diversifying investments beyond U.S. markets. He notes the depreciation of the dollar against other currencies and the potential for higher returns in foreign investments, urging investors to consider broader international exposure.

Key Insights

• The growth in women's soccer is driven by increasing demand for live content and athlete engagement through social media, with untapped market potential in regions like Canada that lack professional leagues.
• The traditional 5-6% real estate commission is becoming outdated as technology enables DIY transactions and rebate agents, potentially leading to lower seller agent commissions.
• Generative AI poses a threat to certain white-collar jobs, potentially causing economic dislocation if its impact is not managed, unlike manual labor which remains largely unaffected.
• The Baseline Profitability Index identifies Singapore and India as attractive for foreign direct investment due to strong governance and rapid growth, suggesting diversification beyond U.S. markets.