Mark Cuban is an interesting character. I originally viewed him as the goofy owner of the Dallas Mavericks but now that I've seen some of his talks and blog posts as well Shark Tank, I am really beginning to appreciate his business sense.
300 of 330 employees becoming millionaires within a year of IPO. With the amount of dilution most startups go through after the multiple rounds, this is an unimaginable outcome nowadays.
Is it really business sense or just being lucky to IPO in a huge bubble?
Did Broadcast.com really create value for the economy that the employees were rewarded for, or were they just on the lucky end of a huge unsustainable wealth transfer from retail investors to startup founders?
All you have to do for startup success is find an accidentally rich sucker willing to pay $10k per user.
Good on Cuban for selling to a giant fool, but I'm not sure recognizing a sucker and selling to him or her is really all that broadly translatable a skill. My guess is the problem is the too-small supply of over-wealthy suckers.
300 of 330 employees becoming millionaires within a year of IPO. With the amount of dilution most startups go through after the multiple rounds, this is an unimaginable outcome nowadays.