How Stephen Curry Is Building an Empire Beyond Basketball | The Circuit with Emily Chang

The last minutes of the gold medal game, what was happening?

Jab, triple.

Those last 3 minutes, it was just, how do you get to the finish line? And the first shot went in.

He sticks it!

Basketball guys were basically just like, yo, you just, you know, I found a good look. Thankfully they all went in.

Ridiculous!

The unreal energy in the building playing France in France, first time experiencing that at that stage. My Aisha was there, my family, storybook stuff for sure.

I mean, was it unreal?

It was incredible. It happened so fast, though.

It did.

That's the thing.

But it was awesome to see.

Oh, for the double team!

Oh!

NBA superstar Stephen Curry has had a lot to celebrate lately.

Deep 3. Oh, no!

Known for sinking triples from almost anywhere on the court, he's recognized as one of, if not the, greatest shooters of all time.

I have never seen anything like that in my life. It's uncanny. I don't think there's ever been a guy in our league to be able to shoot the ball as well as he does.

Kids now don't know They don't wanna go to the rim.

They wanna shoot from the outside.

They wanna be cool, just like this guy. Performance anxiety is real. It's a lot.

But I still love it. I still enjoy it. I still love the grind of it.

Drafted by the Golden State Warriors back in 2009, Curry has propelled the club from a forlorn franchise to the NBA's most valuable team.

The 4th title in 8 years.

People ask me, "What's the one thing that turned the Warriors around?" Steph Curry certainly helped having him on your roster.

The 4-time NBA champion has now staked his claim to basketball's Mount Rushmore and is one of the most marketable athletes in the world. His cultural cachet has given him outside influence in the corridors of power. He's so in the zeitgeist that he's been name-dropped in more than 100 songs.

Been cooking with the sauce, Chef Curry with the pot. Been cooking with the sauce, Chef Curry with the pot, boy.

All this while Curry has built a sprawling business portfolio that spans brand partnerships, media, investments, and philanthropy. The question now is, can Curry extend his winning streak to the boardroom? Will his Curry brand with Under Armour ever compare to Nike's Jordan? Will his bets off the court pay off? I talked to Curry about his long shots, his growing business empire, and his legacy beyond basketball.

Winning record on a road trip, you take that any day of the week.

You've been wearing the number 30 since college, all under your Thirty Inc umbrella. There are the sneakers, your production company, VC fund, the foundation, Chase It All, with a little bit of bourbon. Was there a moment where you decided you wanted to be more than a basketball player?

I think I always had that perspective.

You just didn't know what opportunities would be there.

All that stuff has been curiosities that turned into substantial business opportunities.

And I think that probably was around year 4 of my NBA career where you realize doors that are opening based off of, you know, what you're doing on the basketball court. People that you meet along the way, and just trying to find a sound approach to managing it all, 'cause obviously it matters who you go into business with.

Let's talk about that because a good point guard needs to know how to run the offense, when to pass, when to shoot. How did being a basketball player prepare you to run so many different businesses?

Well, first, going to Davidson, it allowed me to have a perspective of it wasn't just about basketball. Like, there was a nice time management intellectual journey at Davidson that kinda gave me a balance as well. So it wasn't just 100% I'm just going to the gym and hooping, that's the only thing I can offer this world. Basketball is not an individual sport. It requires 5 people working in unison. You gotta have different roles that everybody buys into. And I think maybe a little bit of imagination as well.

From a point guard position, like, you gotta have a little creativity and a little flair, the way I play at least.

So that's, uh—

Stephen Curry.

That's helped off the court too.

I'm here at the Chase Center, home of the Warriors, and it's game night.

The Warriors moved to their new, shiny, state-of-the-art arena in 2019, completing their transformation into one of the NBA's elite. When Joe Lacob and Peter Guber bought the team for nearly $500 million a decade earlier, there were no signs it would blossom into an NBA dynasty. Back then, the club was struggling with patchy attendance and one of the worst records in the league. Failing to win a championship for nearly 40 years.

So Steph just came on the court. He's warming up his 3-pointer, taking shots from Super D. And looking good.

The club's new owners injected a Silicon Valley mentality, investing in a golden era where winning became second nature and its valuation ballooned to more than $8 billion. A key player in the turnaround was former teammate turned venture capitalist Andre Iguodala, who occasionally invests in startups with Curry on the side.

So, first game back all season?

I haven't been back here since I left.

This is your first game back since you left?

Yeah.

Joe Lacob ran the team, my understanding is, a lot like a startup.

Mm-hmm.

Did you see him make decisions that might have been different from other owners?

I think his VC mentality was you spin for the future. And you see a lot of owners get into sports and they don't have a long-term vision. You see a lot of VC investing. It's like, "All right, I'm gonna invest in something because I'm gonna see the return, maybe right now, but on the back end." But he never wants to lose. And that's a true VC spirit.

So how much of the team's success is winning versus how the team is run?

You can't win a championship unless you have the best talent. And so I'm gonna go out on a limb and say, 80% of it is Stephen Curry. I know Joe doesn't like when I say it that way, but it's the truth. I mean, we all know that.

Do you think Steph will become an empire beyond basketball?

His TAM, as we like to say, his total addressable market—

Total addressable market.

—is smaller only because he's very strategic in what he aligns himself up with. And so, you know, he's very wholesome. And he lives a wholesome life. Like he's true to what he represents. There are certain things that he wouldn't participate in that will allow him to get there quicker. But I think over time he'll eventually get there.

Steph says you were the first person to bring tech and investing into the locker room. How much talk was there about tech and deals?

Well, it was just, it was something new.

And so it was a lot of flow of information. I'm a huge Apple fan and Eddy Cue likes to be high behind the scenes, but Eddy Cue's been a fan for so long. That's really how I got into the space. Steph was having conversations of, you know, what's the hottest tech company? You're gonna see it come together, especially in a place like San Francisco, the Bay Area. You know, wherever that city is, you're gonna get the vibes of that city.

Tech folks, VCs now fill up the courtside seats. Mostly at the Chase Center. Oakland legend Mister Fab said the vibe is now all about rich techies. [LAUGHTER] How has being tight with Silicon Valley influenced the club for better and for worse?

It has changed the demographic of, you know, who's coming to our games, but it's a give and take of, you know, continuing to elevate the brand of what, you know, being a— what Warriors basketball is about and obviously championships and, and all that, but also honoring, you know, the history of where we've been. That's something for me that's extremely important, why our foundation is based in Oakland. It's why I still have a flag there and wanna continue to represent the community that supported us for so long. You know, business is business. It's tough. There's definitely some hard parts about it as things evolve.

You did a deal with FTX and, you know, did some commercials.

This is Stephen Curry, the world's leading expert on cryptocurrency. I'm not.

Tom Brady did it too. Lots of celebs did. Obviously that went super sideways. The whole FTX thing. What did you learn from that?

It went crazy sideways. And you make decisions based on the facts that you have in front of you and take some chances. Like obviously nobody wanted to see it play out that way. And it's obviously way bigger than just me being an endorser for the company and some of the names that you mentioned. But it's one of those, shots that you took that didn't pan out. And, you know, obviously the legal process is settling itself. And, you know, it's unfortunate the way that it went. I think it was a shock to a lot of people, not just me, the way that it turned out. You take that one chin and keep moving.

You just produced and starred in your own TV show about you and about Stephenomics, which is a running joke in the show. Stephen Curry is like a small country. His GDP is roughly the same as Nicaragua. His chief export is buckets. But it's not a joke. Stephenomics is a real thing, isn't it?

Yeah, there was some— there was definitely some truths in there for sure. It might have been a little embellished or exaggerated, but you understand, like, the business of basketball and the business of everything else off the court.

So I don't talk about it as much, but there is a—

there is a lot of truth in there for sure.

One way for elite athletes to stay relevant beyond retirement is building their own brand. Launching a signature footwear or apparel line has become part of the playbook, Stephen Curry has bet on the underdog. He signed with Under Armour, angling to take on Nike, the undisputed leader of the sneaker world. Curry started his pro career wearing the iconic swoosh until Nike misplayed its shot and he went to Under Armour in what would become the marketing steal of the century.

A former Nike executive said that if you had stayed with Nike, your business would've been a monster. How do you respond to that?

There's a reason I'm not there. I've always been an underdog. It's kind of my mentality. And when I joined Under Armour back in 2013, the basketball roster was pretty slim and basically starting the category from scratch. So to be a signature athlete for the 7, 8 years that I was there to then turning it into Curry Brand and the success that we've had, I'm super proud of that, to be honest. But the fact that I took a chance and wanted to create something on my own. And, you know, I'm sitting where I am right now. That speaks way more than saying, you know, what could have been with Nike.

We signed him in 2013. We launched his first signature sneaker in 2015. After 3 championships, 2 MVPs, we sat down to do an extension. And I think it was something that was very important to him based on some of the success that he had had over that last 3 or 4 years that he wanted to have his own standalone brand.

After the Olympic win, Curry embarked on a week-long tour of China, opening his brand's first-ever store there in a play to boost its international footprint. The crowds were so overwhelming, they had to cut the trip short.

Curry! Curry! Curry!

What was it like seeing that kind of Curry mania abroad?

We had an amazing itinerary set up where we were gonna experience 4 great cities, have some activations, meet the fans. We were doing a Curry brand launch that was specific to the Chinese fans, and that went well.

Currywok Curry! Currywok Curry!

Currywok Curry!

Currywok Curry!

We had to skip a city because there were some security concerns. I was on hotel arrest for 2 days because of crowd control problems.

I'm sure that drove you crazy.

It did, but it was also flattering. I appreciate that love. We wanna be able to obviously do those trips in the future and figure out a creative way to still have a presence there.

Curry! Curry! Curry! Curry!

You launched the Curry brand with Under Armour. Is the ambition to be as big as Air Jordan?

My version of that in the sense of he set the standard, and I know everybody's in the comparison game of his career on the court and obviously what Air Jordan means, you know, culturally on court as well. But what we've learned over the last 4 years doing what we do great and understand this is a marathon. And I think we can have some success at a high level when it comes to what does, you know, 10, 20 years look like that mirrors Jordan Brand, but does it in a way that's authentic to what I stand for, what Curry Brand wants to stand for. And that's not just here in the US, that's internationally too.

Yeah.

How do you really win over sneakerheads?

For us, we have to focus on what we do great. And what I know we do great is, you know, from a performance standpoint, I truly feel like our shoes, or my shoes, are the best in the biz when it comes to, you know, making athletes better, putting me in position to continue to play at this high level in year 16. And also keep perspective. Like, we've been doing this 10 years now. 11, almost 11. But with Curry brand for 4 years. So for us, just, Long game is everything, but you have to make sure you focus on what you do well and then slowly expand from there.

Part of the 30 Inc. strategy is developing a synergy between Curry's businesses, brands, and philanthropy.

All right, I think we can officially now say good afternoon, everybody. Welcome to the Workday Charity Classic benefiting Eat, Learn, and Play.

The Curry brand frequently partners with the foundation he launched with wife and business partner, Ayesha Curry. The annual charity tournament brings together the basketball player's longtime golf obsession and the couple's shared love for their adopted home of Oakland.

This event is just a culmination of, like, our entire community kind of coming together to raise awareness on the cause, have a good time, and hopefully raise some money to help us all year for the years to come.

First birdie of the day? There we go.

There we go. So, Ayesha, you've said that impact is more important than legacy.

Yes.

What do you want the lasting impact to be?

I want lasting change. I wanna see, you know, kids graduating high school and going off to college. I wanna see literacy rates rising. I wanna see kids enjoying going to school and feeling like they have a safe place to just be themselves. I think the model that we're putting together is trying to prove that if you start within your town, you can make lasting impact. It doesn't have to be enormous.

So many athletes and celebrities have their charity thing. Like, what's really gonna make yours stand out?

I think it obviously being right now centered in Oakland, it's where, you know, the fan base embraced us when I got drafted out in 2009. We basically raised our family here in Oakland and the greater Bay Area. We can really kind of point to our programs, our kind of philosophies, the partners that we've aligned with, within the community to say this is— this has proved beneficial and shown results. 5-star Uber.

Yes!

Do you prefer quiet? Do you prefer conversation?

We're gonna get conversational.

Yes. Don't you worry.

Whoa.

Is this really a 5-star Uber? I'm not so sure.

Off to a rough start. Abby on the brakes.

I'm gonna put it back here.

Where are we going?

Clark did a change, too. I see you. Yes, sir.

So how often do you guys actually golf together?

A lot more now.

Oh, yeah.

So she just really picked it up 2 years ago.

Don't worry. I'm gonna do that 3 times.

Yeah. We're having fun with it, though. Like, it's cool to— on vacation, if we have an opportunity.

Turn too late. I was gonna say, do you give her some tips, but—

I try. You get your swag back.

Okay.

But let's just say we have sourced a professional—

A nice golf coach.

To come in and relieve me of my duty.

Keep the marriage happy.

That part.

All right, that's it. Yeah.

See what I'm saying?

Not every shot is the same.

Anytime you play golf, there's always this fun just to hit it as far as you can.

Yep.

I don't even care where it goes. I'm just trying to hit it as hard as I can.

OK, long and straight, Steph.

Oh, I'm trying.

Long and straight.

That's what I wanted to do, right?

Woo! What gives you the biggest rush, a hole-in-one or a buzzer beater?

A hole-in-one, only because— He's like, because I hit buzzer beaters all the time. Yeah. Like basketball, that's your job, right? Obviously, it's a cool moment if you hit a game winner, buzzer beater, whatever, but—

Steph for the win. Yes, sir!

People have been playing golf their whole life, and millions and millions of people have never had one. So when you do get one, you celebrate it. I have 2 now, so— I saw the Tahoe one. That was the loudest one.

How about that?

A hole-in-one on TV in a tournament, I never ever thought I'd be able to do that.

So that was crazy.

True story, this is my 3rd time golfing ever.

That's perfect.

So I was hoping you could give me some tips.

That's perfect. So the only thing we're gonna start is, like, say the ball's right here. Yep. I'm gonna take the club. You can let it go. And now I want you to grip it, like, in between here and here. You were down here last time.

Okay.

Perfect.

Whoo!

It went to where?

Far!

So you grew up in a family of athletes. How competitive was it in the Curry household growing up?

Was it? That sounds like past tense. It's still competitive.

Well, I was gonna ask, how competitive is it today?

It's extremely competitive. Playing horse in the driveway, card games, board games. Games, whatever it is. The whole vibe of just wanting to win at everything is definitely—

Yeah.

—Green. And then Isha's fit right into that because it doesn't— like, obviously, you don't have much of a sports background, but when it comes to—

Don't say obvious. Huh?

Oh, really? No, no.

I mean—

I can beat you in a race.

I got video footage of her beating me in a foot race at Under Armour's headquarters. Ooh.

I'm fast. That's your blackmail strat? You're just not coordinated.

You started the Underrated Golf Tour to open doors for young golfers of color. Why do you think golf is still so stuck in the past?

The historical nature of, you know, society where it was a very elitist sport. Like, obviously it's super expensive. You have to have property and places to go play. And obviously there's the public golf scene versus the private golf scene. It's really evolved over the course of time, and I think right now we're at an inflection point on getting kids access to a sport that has been predominantly, you know, male and white.

Mm-hmm. Driven for a very long time.

So I'm trying to do my part to create a vision, an inspiration around like, okay, if you are talented enough, one, can we get clubs in your hand earlier in life? 2, can we get you, you know, the financial support and the access to coaching, equipment, being able to travel around to different places to be a part of tournaments and stuff like that. And also giving kids a vision like, oh, I see young Black and brown kids out there on the course. Oh, they're really good at golf. Oh, that might be something for me.

You also want air cut back. Air cut back.

I would aim it like right here.

Okay. Is there a secret to this part?

Not at all. You just, it's just, Whatever you feel is right. Oh, yeah. So you're both in the same boat. You hit the perfect line. You just didn't hit it hard enough.

Okay.

Give it enough hemi.

Hey! There it is. There it is.

Hey!

After basketball, pro golf?

No. No appetite to try to pursue a professional career at all.

Okay.

At all.

I'll believe it when I don't see it.

At all.

You've got Olympic gold. You just extended your contract a few years. How will you know when it's time to hang up your basketball shoes? Like, how much longer do you wanna play?

I have no idea how I'll know, except I've talked to plenty of people who've been in that situation where there's two ways to really go out. Either you're forced out or you go out on your own terms. But I hope to be in a situation where you kind of consider how your body feels, what it takes to get ready for games, you know, the offseason training that goes into preparing yourself for an 80-minute game. 82-game season, there will be a clear sign that it's time to hang it up. I don't wanna be the one that's limpin' up and down the court trying to keep up with the young bucks. But I don't think I'm anywhere close to that yet.

You've said you wanna own an NBA or a WNBA team one day. How will you make your mark? Like, with your unique perspective, what would you do differently?

I'm gonna be very patient with it 'cause you wanna make sure it's the right situation for me and— And hopefully again, that comes to life, you know, when my basketball career is over with. But I think I'd have a very solid perspective that I could add to an ownership group that would hopefully make a difference.

Where are you gonna be in 10 years?

What kind of player do you wanna be?

10 years, I wanna be, you know, known as a true professional.

There's a video of you as a young rookie talking about where you'll be in 10 years' time. What would 21-year-old Stephen Curry Steph, think of where you are today.

Obviously be super proud. And a lot of it's not just 'cause of the accomplishments, which are beyond my own imaginations when I was 21. But the fact that not only have I experienced greatness on the court, but things we've talked about off the court from a business perspective, my family, and the fact that now in year 16, which is a big year for me and my family, my dad played 16 years in the NBA. And that was always a goal for me to hit that milestone. And now I'm right in the middle of it. To have that as something that me and him can share now is pretty special. So it all is, again, beyond my wildest dreams. It's something that I think 21-year-old me would be super proud of.

What else do you want to achieve? Where do you see yourself now in 10 years' time?

Well, basketball will be done by then. I can pretty much say that for sure. I don't think I'll be playing anymore. Everything that I'm doing, I love, I'm passionate about, and I wanna continue to go deeper. So I've dreamed big before and outkicked my coverage on that tremendously. So hopefully that happens again for the next 10.

You got a few more championship trophies in your trophy case?

Oh, yeah. It will not be because of a lack of effort. Yeah. I'm gonna try my hardest.

It's Curry for the record. It's good! And there it is! Stephen Curry!

Greatest shooter of all time. I'm trying to be, man.

I got a couple more years. I like longevity.

Yeah.

Hey guys, Stephen Curry here. There it is. Y'all are getting better. That's all it is, is trying to get better. Oh, it's supposed to go in.

It's supposed to go in.

It's rolling back.

It's supposed to go in for the audience. That's okay. Can't make them all.