WHEN YOU THINK OF MICHAEL WEKERLE, YOU THINK WOLF OF BAY STREET. TORONTO FINANCIER AND PHILANTHROPIST HAS BUILT A MASSIVE BRAND FOR HIMSELF THROUGH STOCKS, REAL ESTATE & INVESTING, SPENDING 4 YEARS ON A CBC TV SHOW DRAGON’S DEN, WHICH CURRENTLY LIVES ON NETFLIX.
IN 2014, WEKERLE ANNOUNCED THAT HE WAS BUYING THE BUILDING AND VOWED TO RESTORE THE EL MOCAMBO AND ITS NEON PALMS TO THEIR FORMER GLORY. THE WORLD-FAMOUS EL MOCAMBO HAS RETURNED IN A SPECTACULAR FASHION TOUTING STATE OF THE ART AUDIO AND VIDEO CONTROL ROOMS , TWO EXPANDED PERFORMANCE STAGES , IMPROVED SIGHT LINES AND WORLD CLASS PA & LIGHTING. CURRENTLY WEKERLE RUNS HIS FAMOUS NIGHTCLUB IN THE HEART OF TORONTO & ACTIVELY CONSULTS ON THE BOARD-OF-DIRECTORS FOR MOGO.TO
What do businesses have to have in order to secure a deal with a Dragon or an investor like yourself?
WEK: “I always say that number one, you would have to have proper management and you would have to define management with skin in the game. You have to have your own money invested. So it means as much to you as it does to the investor putting in the money. Nobody wants to come in and invest in somebody that’s in for a free ride with options. Always make sure in any company you invest in, you understand who the principles are, what is their background. Make sure your due diligence is extreme, so you understand what their motivation is. What is their path of success? Is this one company of a hundred or is this their only company? How much have they invested? Do they have focus? Do they have the capability of building a team? Do they have the capability of being a leader to take it and do they have a business that has barriers of entrance.“
MUSIC is my passion & I was never good enough to play the the ElMocambo, so the first time I ever played is the day I bought it
What is the most important quality for a successful leader?
WEK: Leadership is going to be defined by the team that he assembles and a true leader is someone that can build a team that has the patience, the integrity, and the work ethics to actually see the vision of what it could possibly be. It takes five years to build a company and 10 years to build a brand. So really in essence, you can build a company, but it’s not successful until it becomes a brand. And if you have a brand, that’s where you have Coca-Cola compared to RC Cola. One is successful, one is not.
Now looking at where you have to be as a company and to be successful, you have to try to hire everybody in that group that you think is better than you and not be afraid to promote success.
Because if you are afraid and you try to hold people down, it’s like money and I tell people money’s like water. If you try to cup
it, it evaporates. If you try to hold it in your hands, it goes through your fingers and you lose it. The only thing you can do is you can
direct it. And if you direct positive channels into positive people, it comes back bigger, cleaner, and better.
Michael Wekerle, a forward-thinker in the world of finance and technology, underscores the transformative potential of blockchain technology. “The future is in blockchain,” Wekerle asserts, reflecting his deep conviction in its revolutionary capabilities. He emphasizes that blockchain is poised to redefine how we perceive and handle ownership, particularly in the realm of digital assets. The technology’s ability to securely transfer ownership and ensure authenticity is a game-changer, offering unprecedented value and transparency.
Wekerle draws attention to the burgeoning market for digital collectibles like CryptoPunks and Bored Apes, which have achieved remarkable valuations, with some rare pieces selling for over $2.7 million. “The rarity, the fact that it’s a chain of ownership,” he explains, “is what drives their value.” This growing trend highlights blockchain’s capacity to create and manage unique digital assets that hold substantial worth. By leveraging blockchain, the concept of ownership is not only preserved but enhanced, providing a reliable and immutable record of transactions.
Looking ahead, Wekerle envisions a future where blockchain technology revolutionizes everyday transactions. “Whether it be tickets or artwork,” he predicts, “it’ll be done through blockchain, it’ll be an NFT that you’ll be able to save on your phone.” This forward-looking perspective suggests a world where blockchain simplifies and secures various aspects of our lives, from purchasing concert tickets to acquiring exclusive digital art. As blockchain continues to evolve, its integration into mainstream applications promises to drive innovation and redefine digital ownership.