In the high-stakes world of thoroughbred racing

In the high-stakes world of Thoroughbred racing, there is a fine line between being a ‘disrupter’ and being ‘disoriented’. Recently John Stewart (Resolute Racing) took to social media to mount a spirited, if effectively undernourished, defense of The Jockey Club (TJC) while aiming for Mike Repole. While Stewart’s passion for the sport is evident in his recent investments in blood stocks, his understanding of the industry’s governance structures – and apparently basic terminology – is in a “photo finish” of total confusion.

The ‘AI’ fiasco: intelligence versus insemination

Before we dive into the legalities of nonprofits, we need to address the elephant in the room—or rather, the stallion in the barn. In a recent conversation, Stewart responded to my criticism of TJC’s position Artificial insemination (AI) by providing free access to a platform that uses Artificial Intelligence (AI).

For those who have spent more than a weekend in equestrian sports, “AI” in the breeding context refers to the safer, more efficient method of equine reproduction used by almost every other sport horse discipline in the world. Stewart’s turn to machine learning and algorithms suggests he thinks we’re trying to breed horses in the Metaverse. It’s a staggering portrayal of a “reading comprehension problem” that undermines his authority to speak about the industry’s progress. If you don’t know the difference between an eyedropper and a processor, you may want to wait to teach the veterans. But maybe we have a chance here: I’m going to contact Hooked on Phonics about a commercial if they’re still around.

The fallacy of private business

Stewart’s main defense of TJC is that they are a “private corporation” with “constitutional rights” that should remain opaque. This is where the logic breaks down:

• The clerk is not a pizzeria: The Jockey Club is the registrar of the breed. They hold the keys to the kingdom. When a private entity controls the lifeblood of a public sector – including the registration of every foal born – they are no longer just a ‘private club’; they are one steward of the industry’s money.
• Nonprofit status: TJC is a non-profit organization that benefits from millions of dollars generated by the industry. Unlike Repol Stablesa for-profit entity where Mike Repole answers to exactly one person (himself), TJC has a fiduciary and moral obligation to the health of the sport.
• The false equivalence: Comparing Mike Repole’s stallion deals to the breed registrar’s financial transparency is like comparing an individual’s bank account to the Federal Reserve. One of these is private wealth; the other is industry infrastructure.

A history of being left behind

Stewart suggests TJC is a “better steward” than its critics. History says otherwise. Whether it’s the glacial pace of microchip technology adoption or the resistance to modernization in breeding practices (the other AI), TJC has often been the anchor dragging behind the ship of progress, not the wind in its sails.

The ‘newcomer tax’

It’s great that Stewart is investing millions in the game. The sector needs liquidity and new faces. However, being a high-roller in sales doesn’t automatically get you a PhD in the political history of the industry. Attacking Mike Repole – a man who has invested as much money as he has money – while failing to understand the basic functions (or definitions) of the breeding industry is a bold strategy.

Stewart’s challenge for a “joint press conference” to release the financials is a classic red herring. We don’t need to see John’s tax returns; we need to see that the organization that controls the races acts with the transparency and modernization required for a 21st century sport.

Final thoughts

John, we love the enthusiasm, and we certainly encourage you to keep betting in the pools – a lot, as they say. But before you defend a registrar’s “constitutional rights,” perhaps you should take a moment to learn the difference between a computer chip and a microchip, and an algorithm and an embryo.

If you’re going to call someone in this game, you better make sure you’re in the right starting gate. At the moment, Stewart is still trying to find the paddock.