5 ms·
I wasn't aware Mark Cuban is a high-tech individual
by rmbyrro 5y ago
I wasn't aware Mark Cuban is a high-tech individual
- peanuty1 5y agoHe's not.
- shagmin 5y agoThe big thing that got him most of his wealth was creating an internet radio website - broadcast.com. He got lucky he sold it right before the dotcom bubble crashed.
- jonathanlb 5y agoIt wasn't just that. Cuban also had 14.6 million Yahoo shares at $95 valued at $1.4 billion. He had put options at an $85 strike price, so when Yahoo cratered to $13 during the crash, he made bank.
- Kranar 5y agoTo clarify, he didn't make bank off of Yahoo crashing, he just locked in the value of his shares at $85. It's not like he profited from Yahoo crashing, it's more that after buying the puts he guaranteed a worst case outcome if Yahoo crashed. If Yahoo didn't crash and just stayed at $95, he'd still have made the same amount of money. If Yahoo went up in value by a significant amount, he'd have actually been better off (he'd have lost value on his options but regained all of it and then some on the value of his stock).
- exdsq 5y agoYahoo, the company that had just acquired his broadcast.com startup ha!
- phamilton 5y agoA fun story to read: https://blogmaverick.com/2011/04/07/shark-tank-success-motivation/ https://blogmaverick.com/2011/04/07/shark-tank-success-motiv... He attributes a lot of his success to reading software manuals. That opened doors for him that he never expected (including his first real success in business). He may not be an engineer, but I'd say he's a high-tech individual.