Howard Marks

By the way, the entire game industry is now a SaaS model, as you probably know, software as a service, because people are now buying either a subscription or they're buying pay as you go, which is really where the game industry invented it and the SaaS industry took that concept, which is it's free and then you pay subscription or you pay as you need things.

No, Activision is independent.

It is nearly as big as Disney, or it could become bigger than Disney, but it's Acclaim, my other game company.

So what I did is after that, I went over, took over a game company that made Mortal Kombat.

I don't know if you remember that game.

Anyway, NBA Jam, took them over.

What do you mean take them over though?

Well, they were in bankruptcy.

No, this one, yes.

It turns out they were too.

And what I did is I went to the trustee of the court in Long Island, New York, and I made a bid.

And I made a ridiculous bid.

I offered $100,000 to buy the whole company.

And people were laughing at me.

The trustee laughed at me, everybody.

It turns out- Because it was too low?

Yes.

I won.

They had 250 million in revenue.

Because I read it in the Wall Street Journal.