7 ms·

Square Will Name Earvin “Magic” Johnson to Board of Directors

35 points by brandonlipman 11y ago

sizzzzlerz 11y ago
Well, that should lock down the championship for Square at the Board of Directors basketball camp later this summer.
dpeck 11y ago
Its unexpected given the background of many of the players, but their are some really impressive entrepreneurs and businessmen among the NBA-alumni. It seems theres not much middle ground after their playing days are done, they either go bankrupt or have fairly successful business careers. Magic Johnson Shaquille Oneil Junior Bridgeman Jamal Mashburn And plenty of other http://www.complex.com/sports/2015/06/nba-players-who-are-also-successful-businessmen/ http://www.complex.com/sports/2015/06/nba-players-who-are-al...
- m52go 11y ago
  "Its unexpected given the background of many of the players" Why's that? Professional athletes are some of the most disciplined and hardworking people in existence.
  - thrillgore 11y ago
    Nope. http://www.npr.org/2015/01/27/381724445/how-do-some-highly-paid-athletes-go-bankrupt-theyre-risk-takers http://www.npr.org/2015/01/27/381724445/how-do-some-highly-p... See also the ESPN Documentary (a good one) called "Broke."
  - glxc 11y ago
    i can't speak to their respective backgrounds, but there was an ESPN documentary not too long ago that explored the post-playing career trajectories of professional athletes for major sports Edit: ^^yeah, "Broke" that's the one
  - emodendroket 11y ago
    A lot of pro athletes come from disadvantaged backgrounds where they haven't really become used to managing money beyond a hand-to-mouth way of living and then all the sudden they have tons of money in their laps that seems limitless. So basically a lot of them end up burning through it all and being essentially broke after their careers end.
    - r0naa 11y ago
      I see where you are coming from but I think it's worth mentioning that a disproportionate amount of people born in the upper classes have also never had to manage their own money.
      - emodendroket 11y ago
        They have at least probably observed their parents managing money with a more long-term view.
    - giarc 11y ago
      A former NHL player wrote about this issue (getting handed a bunch of money at a young age). [1] 1. http://www.theplayerstribune.com/the-new-avery-rule/ http://www.theplayerstribune.com/the-new-avery-rule/
  - jacquesm 11y ago
    Expertise in their core domain does not transfer to other domains and you can be as good with your body as any because of discipline and hard work it doesn't say much about how good you are going to be when the work does not involve your body.
    - jaebrown 11y ago
      Doesn't work always involve your body? Your brain is a muscle and part of your body, right? Not to mention be healthy plays a huge role in your productivity. Learning how to be discipline and focus is something all professionals of all levels work to get to and maintain. So, if they're able to transition that energy and concentration once out of the sport, it's to no surprise they'll be successful.
  - adam12 11y ago
    I didn't think Magic Johnson was going to make it past the 90's.
- pa5tabear 11y ago
  Most NBA players actually come from middle or upper middle class backgrounds. http://www.nytimes.com/2013/11/03/opinion/sunday/in-the-nba-zip-code-matters.html http://www.nytimes.com/2013/11/03/opinion/sunday/in-the-nba-...
  - dpeck 11y ago
    Thanks for that link, unexpected, interesting and insightful, exactly what I hope to get from HN.
- rmason 11y ago
  Magic worked as a kid cleaning the office of two prominent black businessmen in Lansing. He credits their mentorship with sparking his initial interest in business. Magic's original business, a sporting goods store in Los Angeles called Magic 32, failed. It made him realize that he needed to learn more and he actively sought out mentors. Recently he was in Michigan for a charity and a young high school football star in Saginaw asked him to become his business mentor. Johnson without hesitation said yes. http://www.mlive.com/news/saginaw/index.ssf/2014/04/magic_johnson_agrees_to_mentor.html http://www.mlive.com/news/saginaw/index.ssf/2014/04/magic_jo...
at-fates-hands 11y ago
When I worked at Best Buy I saw him several times on campus. Guess he had a lucrative contract with Best Buy as well: http://www.targetmarketnews.com/storyid03070802.htm http://www.targetmarketnews.com/storyid03070802.htm (March 5, 2008) Magic Johnson Enterprises, one of the nation�s leading companies dedicated to serving emerging, multicultural markets, has entered into a multi-year relationship with Best Buy Co., Inc. Through this strategic relationship, the consumer electronics retail giant hopes to strengthen its urban market presence and deepen relationships with multicultural customers. The alliance was announced a few days ago at an internal celebration at Best Buy headquarters in Minneapolis, MN.
gxs 11y ago
This is largely a PR stunt. Diversity is a hot topic, this is more in that vein than driving anything business value related.
- ianstallings 11y ago
  Actually it's probably not just for PR, although that is a benefit. I think this is for his experience dealing with emerging urban markets, and the advice he can give. He has the connections to get square in the door in new places. That's the reason you add board members, not just for PR.
  - edwinnathaniel 11y ago
    Was going to say this.... Magic Johnson has tons of businesses, connections, and especially urban markets.
- kaa2102 11y ago
  Yes, hiring a successful entrepreneur and legitimate business mogul who is also African American is just a PR stunt.
- jaebrown 11y ago
  So, should we assume anytime a minority or women is asked to be on a board now, that it's for PR? Regardless of the success of the person? Tech is nothing new to Magic Johnson, he has been a venture capitalist in the industry for some time now. He's also part owner of the LA Dodgers.
- bdcravens 11y ago
  Others have covered your assumption well, but how about this twist: Successful and famous white male execs named to corporate boards are largely PR stunts as well. Board seats are often given out to lend credibility, not necessarily for business acumen.
gohrt 11y ago
It's a scientific miracle that Magic is still alive. He got sick at a very special time in HIV history: http://www.thebody.com/content/art16816.html http://www.thebody.com/content/art16816.html
kstenerud 11y ago
This confused me for a moment. "Magic Johnson is an RPG fan???"
kaa2102 11y ago
Magic Johnson's company is one of the few (maybe only) to own a Starbucks franchise. The idea was that Starbucks wouldn't work in urban areas with minorities. I've been to the Harlem Starbucks plenty of times while in grad school and it stayed as busy as most other Starbucks. I wonder if this is still the case.

35 points by brandonlipman 11y ago

Well, that should lock down the championship for Square at the Board of Directors basketball camp later this summer.

dpeck 11y ago

Its unexpected given the background of many of the players, but their are some really impressive entrepreneurs and businessmen among the NBA-alumni. It seems theres not much middle ground after their playing days are done, they either go bankrupt or have fairly successful business careers. Magic Johnson Shaquille Oneil Junior Bridgeman Jamal Mashburn And plenty of other http://www.complex.com/sports/2015/06/nba-players-who-are-also-successful-businessmen/ http://www.complex.com/sports/2015/06/nba-players-who-are-al...

m52go 11y ago
"Its unexpected given the background of many of the players" Why's that? Professional athletes are some of the most disciplined and hardworking people in existence.
- thrillgore 11y ago
  Nope. http://www.npr.org/2015/01/27/381724445/how-do-some-highly-paid-athletes-go-bankrupt-theyre-risk-takers http://www.npr.org/2015/01/27/381724445/how-do-some-highly-p... See also the ESPN Documentary (a good one) called "Broke."
- glxc 11y ago
  i can't speak to their respective backgrounds, but there was an ESPN documentary not too long ago that explored the post-playing career trajectories of professional athletes for major sports Edit: ^^yeah, "Broke" that's the one
- emodendroket 11y ago
  A lot of pro athletes come from disadvantaged backgrounds where they haven't really become used to managing money beyond a hand-to-mouth way of living and then all the sudden they have tons of money in their laps that seems limitless. So basically a lot of them end up burning through it all and being essentially broke after their careers end.
  - r0naa 11y ago
    I see where you are coming from but I think it's worth mentioning that a disproportionate amount of people born in the upper classes have also never had to manage their own money.
    - emodendroket 11y ago
      They have at least probably observed their parents managing money with a more long-term view.
  - giarc 11y ago
    A former NHL player wrote about this issue (getting handed a bunch of money at a young age). [1] 1. http://www.theplayerstribune.com/the-new-avery-rule/ http://www.theplayerstribune.com/the-new-avery-rule/
- jacquesm 11y ago
  Expertise in their core domain does not transfer to other domains and you can be as good with your body as any because of discipline and hard work it doesn't say much about how good you are going to be when the work does not involve your body.
  - jaebrown 11y ago
    Doesn't work always involve your body? Your brain is a muscle and part of your body, right? Not to mention be healthy plays a huge role in your productivity. Learning how to be discipline and focus is something all professionals of all levels work to get to and maintain. So, if they're able to transition that energy and concentration once out of the sport, it's to no surprise they'll be successful.
- adam12 11y ago
  I didn't think Magic Johnson was going to make it past the 90's.
pa5tabear 11y ago
Most NBA players actually come from middle or upper middle class backgrounds. http://www.nytimes.com/2013/11/03/opinion/sunday/in-the-nba-zip-code-matters.html http://www.nytimes.com/2013/11/03/opinion/sunday/in-the-nba-...
- dpeck 11y ago
  Thanks for that link, unexpected, interesting and insightful, exactly what I hope to get from HN.
rmason 11y ago
Magic worked as a kid cleaning the office of two prominent black businessmen in Lansing. He credits their mentorship with sparking his initial interest in business. Magic's original business, a sporting goods store in Los Angeles called Magic 32, failed. It made him realize that he needed to learn more and he actively sought out mentors. Recently he was in Michigan for a charity and a young high school football star in Saginaw asked him to become his business mentor. Johnson without hesitation said yes. http://www.mlive.com/news/saginaw/index.ssf/2014/04/magic_johnson_agrees_to_mentor.html http://www.mlive.com/news/saginaw/index.ssf/2014/04/magic_jo...

at-fates-hands 11y ago

When I worked at Best Buy I saw him several times on campus. Guess he had a lucrative contract with Best Buy as well: http://www.targetmarketnews.com/storyid03070802.htm http://www.targetmarketnews.com/storyid03070802.htm (March 5, 2008) Magic Johnson Enterprises, one of the nation�s leading companies dedicated to serving emerging, multicultural markets, has entered into a multi-year relationship with Best Buy Co., Inc. Through this strategic relationship, the consumer electronics retail giant hopes to strengthen its urban market presence and deepen relationships with multicultural customers. The alliance was announced a few days ago at an internal celebration at Best Buy headquarters in Minneapolis, MN.

gxs 11y ago

This is largely a PR stunt. Diversity is a hot topic, this is more in that vein than driving anything business value related.

ianstallings 11y ago
Actually it's probably not just for PR, although that is a benefit. I think this is for his experience dealing with emerging urban markets, and the advice he can give. He has the connections to get square in the door in new places. That's the reason you add board members, not just for PR.
- edwinnathaniel 11y ago
  Was going to say this.... Magic Johnson has tons of businesses, connections, and especially urban markets.
kaa2102 11y ago
Yes, hiring a successful entrepreneur and legitimate business mogul who is also African American is just a PR stunt.
jaebrown 11y ago
So, should we assume anytime a minority or women is asked to be on a board now, that it's for PR? Regardless of the success of the person? Tech is nothing new to Magic Johnson, he has been a venture capitalist in the industry for some time now. He's also part owner of the LA Dodgers.
bdcravens 11y ago
Others have covered your assumption well, but how about this twist: Successful and famous white male execs named to corporate boards are largely PR stunts as well. Board seats are often given out to lend credibility, not necessarily for business acumen.

gohrt 11y ago

It's a scientific miracle that Magic is still alive. He got sick at a very special time in HIV history: http://www.thebody.com/content/art16816.html http://www.thebody.com/content/art16816.html

kstenerud 11y ago

This confused me for a moment. "Magic Johnson is an RPG fan???"

kaa2102 11y ago

Magic Johnson's company is one of the few (maybe only) to own a Starbucks franchise. The idea was that Starbucks wouldn't work in urban areas with minorities. I've been to the Harlem Starbucks plenty of times while in grad school and it stayed as busy as most other Starbucks. I wonder if this is still the case.