My favorite part of this story is omitted!
In 1999, Yahoo bought Mark Cuban’s Broadcast dot com for $5.7B. At the time Broadcast had 570k users, so Yahoo was paying $10k/user.
It made Cuban a billionaire. He quickly sold his Yahoo stock, & bought a Gulfstream
online for $40mhttps://twitter.com/maybebullish/status/1140310957438226432 …
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Not a short and not the index; an options collar using the index and the non-restricted constituents to effectively collar the Yahoo stock. It is one of the great financial engineering stories in tech.
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Replying to @patio11 @radkapital and
Oh I may be materially wrong here.https://www.quora.com/How-did-Mark-Cuban-save-his-wealth-from-the-dot-com-crash-He-sold-Broadcast-com-for-5-7-billion-in-Yahoo-stock-How-did-he-get-out-before-it-all-went-down …
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