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Mark Cuban's Genius Move
Liam Gill
December 19, 2023
Sponsored by
Story of the Day
Mark Cuban’s genius move saved him $1B+. In 1998, Mark Cuban sold his multimedia streaming company, broadcast.com, to Yahoo for $5.7 billion. He was paid out in Yahoo stock, receiving 14.6 million shares worth $1.4 billion. Anticipating the .com bubble, Cuban used an options collar, which meant he gave away the upside in his holdings to limit his losses to 10% of the value of the stock if it crashed. In the following weeks, Yahoo's stock skyrocketed to $237, Cuban's net worth could have been over $3 billion. However, in the long run, he won; following the internet bubble burst, Yahoo's stock plummeted to $13. Cuban's strategic trade saved 90% of his net worth, while others lost everything to the crash.
Tweet of the Day
If you have tweets you want to submit to be featured here (from you or someone you like), then reply to this email with a link to them!
Had an idea for a newsletter in 2017. Launched and nobody cared. Made $0 for 150 days. I still worked on it every single day. My friends all said "wtf u doing". Then, a company paid me $12K to sponsor it. Quit my job shortly after. This year it'll make $1.8M. What a ride.
— Pat Walls (@thepatwalls)
8:20 PM • Dec 18, 2023
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Insight of the Day
Defence companies have been outperforming markets in 2023. We’ve also seen SpaceX an others benefit in the last 12 months from US government spending. Is there an opportunity for startups to capture any of the (likely) incoming booms in government spending on national defence?
National defence spending today isn’t just arms and weapons. Lots of it is on technology, cybersecurity, satellites, communications and more.
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