Mark Cubans 2.0: Way, way back a long time ago (seven Internet years), Mark Cuban sold Yahoo! an Internet audio business for several billion dollars worth of Yahoo! stock. I’m not sure what the ROI on that purchase was for Yahoo! (here’s a chart of YHOO’s ride since the day that deal closed), but it sure was sweet for Cuban. He was very wise and diversified his holdings and today is, according to Forbes magazine, worth $2.3 billion. Since then, he seems from afar to be a really cool billionaire who loves stirring up stuff and writing very entertaining blog posts that sometimes cost him hundreds of thousands of dollars in fines from the NBA.
For the past couple of weeks, he’s been slamming Youtube pretty heavily and questioning whether or not it’s even going to exist once copyright-holders start suing the heck out them. So when the rumors first cranked up about Google purchasing YouTube, he pooh-poohed the idea. Now that some Mark Cubans 2.0. have become centimillionaires, Cuban has some advice for them — the type of advice you might expect one lottery prize winner who didn’t blow his winnings to offer new winners who just learned they are going to get photographed holding one of those giant cardboard checks:
“My advice to you is to always protect your downside. Ignore all the scammers who want your money, and dont listen to all the tax scammers who want to save you money on taxes. Writing that check is painful, but its the right thing to do.”
Cuban still thinks Google is crazy for buying Youtube. (As, perhaps, Yahoo! was for buying Broadcast.com?) As anyone who reads my blog knows, I’m a fan of Mark Cuban. However I’ve come to believe one thing emphatically: he’s an expert on crazy. And I think I mean that as a compliment.
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