Rick Heitzmann at Manhatta | Standing Table Podcast Episode #2

Rick Heitzmann (0:00)

It's easy to vilify AI, everything from, hey, is this going to be Skynet, which is going to destroy our world, it's going to take your job.

Dan Nathan (0:05)

Is it going to be?

Rick Heitzmann (0:06)

No. I can't even get the, it to vacuum my carpet.

Dan Nathan (0:09)

Do you see how Baldwin says there's like a 20% probability it kills us all?

Rick Heitzmann (0:12)

Yeah, that's because he wants to be clipped.

Dan Nathan (0:15)

New York City, the finance capital of the world. It has more ambition than one tiny island can handle.

Guy Adami (0:22)

And it's not a bad place to get a bite to eat either. For three decades, we made it here on the markets, calling our shots and always speaking our minds. But the best conversations happened across the table.

So pull up a chair while we break bread with founders, CEOs and creators, all in the iconic spots that define the greatest city on earth. This is Standing Table.

Dan Nathan (0:51)

Presented by Apex Fintech Solutions.

Guy Adami (0:55)

Today, we're doing lunch at Manhattan, towering 60 stories above the Financial District. This is a dining room built in the clouds with Florida ceiling views that stretch 360 degrees from the Brooklyn Bridge all the way to the Statue of Liberty.

Dan Nathan (1:12)

It's refined, modern and embodies New York City excellence. Joining us is my buddy Rick Heitzmann, co-founder and partner at one of New York's most famous influential early stage venture firms, First Mark Capital.

Guy Adami (1:25)

Rick has been early to some of the most category defining companies of the last decade, backing names like Pinterest, Airbnb and DraftKings.

Dan Nathan (1:34)

That foresight has landed him on the Forbes Midas list. Not once, not twice, but five times.

Guy Adami (1:41)

And if that wasn't enough, he's living the dream of every New York sports fan joining the ownership group of the New York Yankees. What are you going to have?

Dan Nathan (1:52)

I'm going to have a Grey Goose Martini. Just a little dirty with olives, please, yeah.

Rick Heitzmann (1:55)

Do you have an Oakey Chardonnay?

Guy Adami (1:57)

Of course she does.

Dan Nathan (1:58)

Yeah, just that. The Oakey is for him. It's great.

Guy Adami (2:01)

Johnny Black on the Rocks. Thank you. All right.

Dan Nathan (2:03)

Thanks so much. Oh, I love this place, man.

Guy Adami (2:05)

You've been?

Dan Nathan (2:06)

Yeah. You know what's interesting? I've been here a couple of times. See that table in the corner? I was very fortunate. I had dinner with Danny Meyer here. And so, obviously, the owner of the restaurant toured this. But he told us this whole story. It was awesome how he was a young guy and he wanted to be a chef, which I think you probably wanted to be a chef. And then he said, you know what?

Rick Heitzmann (2:23)

I like the other side of the book.

Dan Nathan (2:24)

He goes, I realized pretty soon that I was not going to be a good chef. And then he got into the management of restaurants. And obviously...

Rick Heitzmann (2:30)

He found a young man in New Jersey named Tom Colicchio.

Dan Nathan (2:34)

Oh, really? Was Colicchio working? He was one of his first chefs?

Rick Heitzmann (2:37)

He was the first chef at Grand Mercy Tavern. He was at the Saddle River Restaurant in Northern Jersey. And I think he was 21

And he didn't want to meet Danny Meyer because he didn't want anyone to know how young he was. He dropped out of high school. He started working for minimum wage, cutting vegetables, and just rocketed. And then I think he finally met Danny Meyer when he turned 21 because then he was legal to be the chef there because he could drink. And then everyone shocked. And I think Danny's only was 20s at the time. And he said, hey, I think this is awesome. Would you ever want to work in New York City? And Calicchio said, no, it's scary. Saddle River is good for me.

Dan Nathan (3:13)

Yeah, New York's.

Guy Adami (3:13)

You're from New Jersey.

Rick Heitzmann (3:14)

Yeah, I'm a Jersey boy.

Dan Nathan (3:17)

OK, you ready for this? Rick is like the diehard Philly professional sports fan. Eagles?

Rick Heitzmann (3:22)

Yep.

Dan Nathan (3:22)

All right. Sixers?

Rick Heitzmann (3:23)

Yep.

Dan Nathan (3:24)

Phillies?

Rick Heitzmann (3:25)

Yep.

Dan Nathan (3:25)

OK, then Flyers. Who cares?

So here's a guy who puts, I guess, his mouth where his money is. So the Phillies are kind of out now. He joins the Yankees ownership team. And now it's just Yankees. That's all you care about.