Theranos founder Elizabeth Holmes (right) and WSL acolyte.
Theranos founder Elizabeth Holmes (right) and WSL acolyte.

Famed Silicon Valley advisor compares World Surf League to Theranos, Frye Festival in damning op-ed!

We(don't)Work.

I am here to tell you the WSL is dead. They will crash and burn. No doubt.

I have spent the majority of my career in and around Silicon Valley as a founder, advisor and consultant. Over the last decade, I have learned what makes a startup successful and where the warning signs for failure are.

I have for years been saying that the WSL has the hallmarks of a rapid-growth startup- venture backed, charismatic leadership, desire to change the world, etc. That being said, the startups that the WSL is following aren’t the FAANG high performers. Instead, the startups that the WSL is emulating are the ones that have Netflix documentaries made about them, the Theranos, the WeWork, the Fyre Fests.

These startups have all followed a simple playbook of promise innovation, create a cult of personality, lie about success, silent dissenters, under deliver, allow execs to self deal, and ultimately burn in a blaze of non-glory and scandal, below is a sampling of how the WSL fits this mold and will ultimately crash and burn.

Initially, the WSL promised innovation and reinvention, much like WeWork, Theranos, and Fyre Fest, but much like those startups, failed to meet the mark. Teranos never delivered on the promise of the Edison the same way the WSL has failed to deliver on the promise of becoming a media company, elevate the sport, innovate competition, or doing really anything. The innovation that was promised has never been delivered upon and in the same way that the Edison was a shittier version of a Becton Dickinson Blood Reagent Analyzer, the WSL is a shittier version of the ASP.

In the same line of thinking, Silicon Valley has a long history of CEOs who become synonymous with their companies, like Elizabeth Holmes of Theranos and Adam Neumann of WeWork. WSL leaders have been treading a similar path. Markedly, Erik Logan had moved from an administrative role to an omnipresent figure at WSL events, eclipsing even the surfers at times, demonstrated at peak self-aggrandizing with a Filipe Toledo shirt wearing debacle . Similarly, Jesse Miley Dyer, through leadership seminars and public events, is actively molding herself as a poster figure for the sport. Additionally and in the same regard, Dave Prodan, via his podcast, doesn’t just commentate on surfing, he often sets the moral and ethical tone of surfing, becoming an arbiter of what’s right and wrong in the sport and making things about him when they’re not.

Much like Silicon Valley companies that allegedly suppressed internal critics, including the documented instances of Theranos counsel harassing whistleblowers, the WSL has shown similar tendencies. The controversial decision to prevent surfers from sporting Bethany Hamilton jerseys signaled an authoritarian streak in this same regard. Moreover, Logan’s public warning against raising concerns over potential judging bias displays an intent to control the narrative at all costs. Additionally, Prodan’s approach, particularly his political name-calling and the quick removal of dissenting “Dave Prodan Killed Surfing” stickers at Trestles hints at an intolerance for alternate viewpoints.

Misrepresentation of success metrics, a tactic Silicon Valley snake oil salesmen, such as Holmes’ fudging of the Edison’s accuracy or Fyre Fest’s misrepresentation of Fyre Fest preparedness, has often been criticized as a quick way to convince investors that all is well and appears prevalent in WSL’s strategy. Logan’s optimistic portrayal of viewership figures, often without substantial evidence, mirrors the inflated claims that led to the downfalls of many tech startups. Prodan’s feigned excitement of the mid-year cut seemed to put lipstick on a pig and signal the same, even when rebuked by Connor Coffin to his face and while actively rebutted by tour surfers.

These Silicon Valley startups also have a history of self-dealing. A prime example is WeWork’s Adam Neumann, who had questionable real estate dealings with his company that ultimately didn’t pass the smell test. These dealings find a counterpart in Logan’s endeavors with Apple TV. Logan’s dual role as a WSL CEO and the executive producer for Apple TV’s “Make or Break” rings alarm bells about potential conflicts of interest, reminiscent of many a Silicon Valley scandal.

When it comes to pushing narratives, Holmes’ unwavering faith in Theranos’ flawed Edison machine is paralleled by WSL’s insistence on wave pools, mid year cut, and the unpopular finals day format, even in the face of clear community opposition across all levels of leadership.

At its core, the WSL, by seemingly adopting a Silicon Valley playbook marred with controversies, is setting itself up for an inevitable downfall. Silicon Valley’s history is littered with companies that were driven by ego, suppressed criticism, misrepresented success, and lost touch with their user base, eventually leading to their implosion. The WSL’s current trajectory appears ominously familiar.

As the surfing community watches, the hope remains that the WSL will recalibrate its compass, but it’s unlikely and I fear that the coffin nails are being hammered for competitive surfing. For a sport so deeply connected with nature’s rhythms, its governing body’s alignment with flawed corporate strategies seems stupid and disingenuous. We are a community that yearns for WSL leadership that resonates with the sport’s core values, but its seeming more and more that the League will crash against the very waves it seeks to champion and, well, die like Theranos and FyreFest or even worse, rust like a WeWork.

We deserve better.

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Shane Durian
Shane Durian
2 years ago

Hmmm yes the article doesn’t factor in the Ziff largesse but that doesn’t mean WSL’s incompetence and toxic positivity won’t have consequences. What if JJF and Carissa leave the tour? What if Gabby leaves? What if up and coming superstars like Sierra Kerr decide not to join up? What if a rebel tour starts? It’s a monopoly but not a total monopoly, and their arrogant undermining of the the tour’s credibility could lead to a tipping point where it breaks down. Ziff may or may not care about hemorrhaging $$ for ‘the global home of surfing’, but if it stops being the global home of surfing and the best surfers in the world call it out for the disgrace it is becoming, then I doubt he’ll feel like it’s a good liability to be carrying.

I think that’s the interesting thing here, is that interplay between the dynamics of a soon-to-fail start-up, a professional league with a credibility problem, and the whims of a billionaire whom none of us really know or understand. If anyone apart from Ziff himself claims to know how this is going to play out, they’re just reaching

Cheers to Animal Chin for worthwhile addition to the conversation…

tim_nelsen
tim_nelsen
2 years ago

i’ll try and cop a feel and get back at ya…yep. OK. 1.2M beach contest visitors!

https://www.snowtrails.com/…

K0o_o0K
K0o_o0K
2 years ago

Stumbled upon random marketing article where the CRO, Cherie Cohen, claims that “the average event on the tour reaches about 10 million people”. Wild confidence to put this into print.
https://www.marketingbrew.c…

LinkedIn says Cherie has an exec-level work history that includes 9 yrs at ESPN + 6 after at NBC. So if you’re the WSL, how much do you pay your Revenue Officer with these seemingly impressive accolades? Overpaying your people with investor speculation dollars is sure reminiscent of past start-up days. And I don’t know one person personally who regretted getting lucky with such a role, which means there is no one at the WSL to give a shit that the house is on fire.

I’ve now written many words without saying much. Kind of like this article.

lawless
lawless
2 years ago
Reply to  K0o_o0K

“Last year’s Championship Tour reached 46 million viewers across
platforms, Cohen said, and the average event on the tour reaches about
10 million people…”

That math ain’t mathing out.

tim_nelsen
tim_nelsen
2 years ago
Reply to  K0o_o0K

since retired, with too much time on my hands, i humbly reply to you Koo_ook. inspired ! to throw my hat into the WSL’s rotating director’s ring…

four start-up environmental consulting groups…here’s what happened:
the first one, to my amazement, still employs hundreds in ten offices in the western US, was garage-based by three guys. we did 900K the 1st year; 1.5K the 2nd year. I burned out and left with 10% of company stock…6K. went lobster fishing! the second one folded after the parent company forced a whole construction crew into our office. they wanted me to replace my original partner from the 1st start-up as office manager. I declined. the third start was a merge with a trash recycling measurement group and mostly used Cali grant money, which is not a money maker. bailed on them to work my own one-man office…

in summary, over a 15-year span, I grossed a bit above 1.5M, totaled about 12M in sales, 450k car miles, 30k airplane miles and was exposed to every chemical and trash component known to man.

the results? i’m kinda healthy, not wealthy, and pretty wise. did I wish I stayed with the first company. hell no! but it sure ruined my potential as a world class pro surfer and there’s no chance ANYONE would hire me now. are any of us BGer’s hireable now?

if anyone’s gotten this far here’s the kicker: newly married with a couple of toe-head, we sometimes were taken out to a local mex restaurant by the in-laws. he, a major banking player in the county, knowing I was an enviro consultant, would point to a longhaired vagrant pushing a shopping cart with recyclables and tell my wife and kids:

“Look, there’s a retired environmental consultant!”

K0o_o0K
K0o_o0K
2 years ago

Just got a Pivot Mach 6 on a screaming deal. Giving the overpriced bikes away these days. Side note — Jen, please start Bike Grit.

Fukkada Bong
Fukkada Bong
2 years ago

No, we don’t. We’re largely a bunch of over 40s (and then some) who watch this reminiscing about a past that either never existed or that is long gone. There are no kids watching this – none! There is no new blood coming in at the grassroots level. Surf clubs are gatherings of old men, talking about “back in the day”, uttering obscenities and trying to show off their – largely poor – surfing skills.

Competitive surfing is toast, just like the WSL.

Good riddance!

DavidC
DavidC
2 years ago

The only thing that keeps this Titanic afloat is the injection of Ziff bucks – by definition, as they say in the trade it is not a “going concern”.

JoJo the Dog Faced Boy
JoJo the Dog Faced Boy
2 years ago

Well said. Now hurry up and put in your application for CEO.

channelbottom
channelbottom
2 years ago

Let it burn.

disqus_00d1gIXedO
disqus_00d1gIXedO
2 years ago

I just want a pet Yeti

Picard Madeoff
Picard Madeoff
2 years ago

Surely they offer a media personality discount you can take advantage of? I’m riding last year’s Scott Spark 900 with the cool new frame design and internal rear shock. I like it but don’t love it like my prevous Scott RC 900. Geometry is different and I haven’t adjusted to it as expected…maybe a Yeti is in order.

paul taublieb
paul taublieb
2 years ago

thoughtful, smart and if the analogy is bit stretched, the inevitable end is not.

Picard Madeoff
Picard Madeoff
2 years ago

And most of what Chin assert in the article is bullshit filled with limited to zero real world VC experience but at least the article was annoying…

Picard Madeoff
Picard Madeoff
2 years ago

This world salad article left me laughing at the lack of real world VC experience or knowledge

Picard Madeoff
Picard Madeoff
2 years ago

The author leaves those with actual SV investing experience(think Kleiner and Sequoia) laughing at this confused word salad and innacurate comparisons, save for one. So I am left to wonder which failed VC fund he/she/it failed with while trying to fake it till you make it. So to recap:
– The WSL has been around in various forms since ’76, so not a startup
– The WSL doesn’t follow a startup playbook, they follow a trail of ever changing failed ownership

BUT

– The Ziff version of the WSL could, via a wild stretch, be compared to a cash incinerating VCesque example of how to fake it while never making it but fortunately the capital is mostly that of one individual burning up daddy’s cash not his…BUT at least it is a healthy write off toy for Dirk individually or within his trust fund

So a more fair comparison might be Worldcom, Enron and others of their ilk

velobwoy
velobwoy
2 years ago

So who’s going to end up in jail?

Picard Madeoff
Picard Madeoff
2 years ago
Reply to  velobwoy

No one, it is Dirk’s money from his daddy so the accountants, tax advisors, investment professionals and lawyers all win by advising Dirk on his money losing toy that generates nice offsets for his capital generating investments. Most of which are surely put in place by investment professionals…while Dirk tries to make a mark in life.

Stick man
Stick man
2 years ago

What did this piece read?

tim_nelsen
tim_nelsen
2 years ago
Reply to  Stick man

“We are a community…” Ha ha ha…’yearning’

Stick man
Stick man
2 years ago
Reply to  tim_nelsen

A higher yearning it shall be!

7dollarsurfboard
7dollarsurfboard
2 years ago

The “better” we deserve would be if the WSL just folded and ceased to exist

BiggKahoona
BiggKahoona
2 years ago

Big reach comparing WSL to those companies. I for one will never ever not appreciate a stream of live professional surfing on YouTube for free all day. When we were kids we stared at still magazine photos. Come on.

discosaurus
discosaurus
2 years ago
Reply to  BiggKahoona

Nobody wants it to disappear. The Australian commentators have developed a true sports language, full of richly detailed homilies and metaphores; the beach boys from El Porto, who have the right accent, are incapable of describing anything, in their homoerotic, syncophantic extacies, but board shorts, haircuts, fins, leashes, sunglasses, while, all the while, praising the 2%, who, after two years of being gifted two contest wins per season for two seasons in a row , still only have a 2% chance of beating their betters. The World Merch League marches on.

hcmcloc
hcmcloc
2 years ago

I mean…if WSL disappeared tomorrow no one would notice. The same 5-6 surfers anyone tunes in to watch could easily pivot to a youtube channel and probably earn more money and def surf better waves. The rest will have to face reality and either get a job or develop a following and get the youtube going….

Karl Von Fanningstadt
Karl Von Fanningstadt
2 years ago

He wants a cookie.


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