Jeremy Levine on consumer demand
From Underdog's Jeremy Levine on how to navigate regulatory risks as a start-up | Masters of Scale · · Masters of Scale
“People love playing fantasy sports and ultimately as the industry went to politicians and said, 'Hey, this should be legal and it should be clarified.' It's ultimately what do the constituents want? Over 60 million people play some form of fantasy sports.”
On , Jeremy Levine, Partner at Bessemer at Bessemer Venture Partners, spoke about consumer demand during Underdog's Jeremy Levine on how to navigate regulatory risks as a start-up | Masters of Scale on Masters of Scale.
About Jeremy Levine
Jeremy Levine, a partner at Bessemer Venture Partners, said on a February 2026 podcast that venture capital is a "patient person's game" and that investors seeking quarterly or annual returns are "in the wrong asset class." He described the current AI landscape as an "amazing time to be alive" but cautioned that most investments are a "slow burn process" until they appear to become large. Levine also stated that the idea that price does not matter in venture investing is "wildly flawed and lazy thinking," arguing that paying twice the price on deals would reduce a fund's return from 5x to 2.5x. Levine, who also founded and serves as CEO of the fantasy sports and gaming company Underdog, said in September 2025 that Underdog is "the fastest growing sports company ever" and projected nearly $500 million in revenue in its fifth year. He announced a partnership with Crypto.com to offer sports prediction markets in 16 states, stating that the move allows Underdog to offer betting on teams, which he described as the company's "top requested feature." Levine previously founded Star Street, a fantasy sports company that sold to DraftKings in 2014, and has described his early entrepreneurial experience as having "no money, no connections, and no technical background," including getting his first two engineers from Craigslist.