Complex sentence: Early in the early 1980s Pierson sensed that comedy was a relatively untapped market and arranged for the live recordings of Australian comedy acts at the Margaret St Comedy Store in Sydney in conjunction with Barry Wayne.
Split into simpler sentences: Early in the early 1980s Pierson sensed that comedy was a relatively untapped market. Having gained a taste for the potential of the comedy market Pierson arranged for live recordings of Australian comedy acts at the Margaret St Comedy Store in Sydney in conjunction with Barry Wayne.