This podcast episode explores the early days and challenges faced by the UFC, including its financial struggles, booking compelling matchups, and the role of key figures like Art Davie, Dana White, and Ari Emanuel. It discusses the cyclical nature of the UFC's popularity, as well as the upcoming UFC IPO and the moral questions surrounding the sport. The episode highlights the leadership qualities of Dana White and his significant role in the UFC's resurgence, while also addressing criticisms of his practices and the ethical concerns associated with the sport.