Mark Cuban
👤 SpeakerAppearances Over Time
Podcast Appearances
So the company, we started it as AudioNet.
And we were the very first streaming company.
Yeah.
Yeah.
We'll get to that.
Right.
And so started AudioNet was first streaming company and just growing like a weed.
And we're just audio added video.
We named ourselves Broadcast.com, went public, biggest IPO, first day IPO jump in the history of the stock market at the time.
And then a year and a half later, we sold to Yahoo for five point seven billion dollars in stock.
In stock though, right?
So then I was like, look, I don't need to be greedy, right?
I got this bee next to my name and I'm happy with that.
And so I did this thing called a collar where it was a public company, Yahoo, and I sold calls and bought puts to protect my downside and give up some of the upside, protect my downside, collar it.
Not three months later,
Everything craters.
And they called it one of the top 10 trades in Wall Street history.
No, no.
The companies were cool.
It was just the valuations in the stock market.