Michael Tamvakologos Reveals What Every Business Owner Needs to Know About AI and the Future of Law | S2 Ep. 163

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Well, thank you. Thank you very much for that introduction. I've been very fortunate in my career to work with many of the leading companies in Australia and some globally and to learn from a lot of really great people that I have interviewed.

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interacted with along the way, whether that's inside my own law firm or just very intelligent and hardworking clients and business people who I've represented along the way.

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As you've continued to grow your business and you start working with bigger and bigger clients, what is something that you've learned in terms of when you go from smaller company, small clients to then transitioning to a bigger company with bigger clients?

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What I find, particularly when you're dealing with very large listed companies, which are in Australia on, say, the Australian Stock Exchange or in the US, they might be listed on the New York Stock Exchange or the NASDAQ, if they're technology companies, is... As an advisor, we're dealing with many layers of governance, a number of decision makers within a large organization.

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Whereas if we're dealing with private companies, large family businesses, for example, the decision making tends to be centralized within a smaller number of people or indeed in some cases, a single person making all of the decisions.

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So understanding that rich tapestry of governance and decision making and being able to communicate advice very effectively for all of those different people is really critical in a role like mine. And again, understanding the different business drivers that are motivating all of those people to make the decisions that they wish to make. That's really key.

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The other aspect that I would mention is I work in a team sport. It's a little bit like playing football. It's important to have the right players on the park. But what's equally important is that everybody work together in a very aligned fashion, leveraging, of course, all of the latest technology. And I regard technology as an enormous asset.

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And there were so many points where Nike was really at a crossroads and might not have gone on to become what we now know it to be. There were business betrayals. There were huge financing problems, partnerships that broke apart. And Phil Knight and his team were really able, through sheer force of will, character, to and talent just persevere through all of those things.

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And stories, for example, of receiving small amounts of equity funding from family members of the founders, which of course then later turned into, unbeknownst to all of them, probably when they made the investment, quite fabulous sums of money. It's just a really inspiring story. But also I think

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quite a realistic one because senior executives of large corporations, business founders, entrepreneurs, we tend to glamorize the success, but there's so much that sits behind that. And I think it's a really great story that tells that story very well.

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I learned a lot from that book. I really, really enjoyed that book. I think I've read it to it a few times. I did learn in reading that book. It's really critical that you have a great attorney in your business. I learned that for sure. Like you said, there's a lot of ups and downs in his life.

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