You have to keep buying from me and the more you’re loyal, the more you’ll get penalized. “But I had an obsession with electronics, so I was sitting at the bottom of the hierarchy thinking, hey, nobody knows this stuff.” “I remember being told to ‘F off back to the housing commission where you belong,’” Petty says of his middle-school years, when he taught himself to code on an Apple II. Petty developed his outsize shoulder chip growing up poor in rural Australia after his father, an engineer, split from his mother, an artist and nurse, and the family moved into public housing. Then you run around with a business card that says ‘serial entrepreneur.’” You live a nice lifestyle as a tech mogul while you’re going for rounds of funding until the whole thing gets dumped on the stock market and you can sell out. “We all know that the tech business is mostly a con game. We haven’t done any acquisitions for a couple years because everyone’s gone nuts,” snorts Petty in a thick Aussie accent. Given its rapid growth and today’s heady tech valuations, debt-free Blackmagic could fetch $3 billion as a public company, making Petty and cofounder Doug Clarke, who each own 36%, billionaires on paper. Other big buyers during the pandemic, according to Petty, were television networks looking to equip their work-from-home staffers.įor the year ending June 30, 2021, Blackmagic’s revenue nearly doubled from 2019, to $576 million, and its profits grew tenfold, to $113 million. “The Blackmagic Pocket 4k that I shot Don’t Peek with was cheaper than my iPhone,” he says. Some 4.5 million YouTube views later, he has been hired to direct a $10 million feature based on his short. In 2020, film school dropout Julian Terry, 31, used his Blackmagic camera to shoot Don’t Peek, a six-minute horror film set in his L.A. “Musicians were floundering and looking to do online teaching.” “I must have recommended their systems to hundreds of drum teachers during the pandemic,” says Jim Toscano, a New York City drumming instructor who uses Blackmagic’s $1,300 ATEM Mini Extreme switcher, connected to seven video cameras trained on his drum kit, to teach students in real time. Backlot Magic: Scores of films use Blackmagic’s inexpensive gear and software, including the Oscar-nominated ‘Power of the Dog’ and ‘SpiderMan: No Way Home.’ Power of the Dog/Kristy Griffin/Netflix/Everett Collection Spider-Man: No Way Home/Sony Pictures/Marvel Entertainment/Everett Collection
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