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How Magic Johnson Went From NBA Legend to Billionaire | The Deal
Bloomberg Originals· 2025-06-11 22:00
Partnerships & Mentorship - Valuing partnerships and demanding excellence are key principles [2] - Mentorship plays a crucial role in business success, exemplified by the relationship between Magic Johnson and Alex Rodriguez [7][8][9] - Choosing partners who can expand one's knowledge and provide mentorship is essential [25] Deal Making & Investment Strategies - Movement to ownership is a significant aspect of Magic Johnson's deal-making [10] - The Starbucks deal was seminal, providing a stamp of approval and track record for future ventures [15][20][21] - Securing institutional capital, such as $50 million from CalPERS, is vital for sustainability and growth, requiring demonstration of over-delivery and profitability [21][22] - Focusing on urban America can be a profitable business strategy [18][20] - Larger deals are more efficient in terms of time investment, as advised by Ron Burkle [45] - Gut feeling is important in deal-making, alongside data analysis [43] Sports Ownership & Team Management - The Washington Commanders deal is considered the greatest deal, highlighting the importance of local ownership and a winning environment [11][13][33] - Having a 3-5 year plan, strong player relationships, and accountability are crucial for franchise success [30][31][32] - Changing the environment and addressing player concerns are important steps in improving a team [34] - Athlete-turned-owners can connect with players on a different level due to shared experiences and respect [39][41] Personal Growth & Impact - Giving back and making an impact are as important as making money [53]
NBA Star Tristan Thompson TURNED DOWN $32B in Bitcoin
Cointelegraph· 2025-06-03 18:40
Bitcoin & Crypto Investment Thesis - Bitcoin is viewed as digital gold and a form of financial freedom, recommended for portfolio diversification [4] - The industry compares Bitcoin to LeBron James, Ethereum to Steph Curry, and Solana to Kevin Durant, emphasizing the importance of all cryptocurrencies for the blockchain business [1][36] - The industry believes Bitcoin will reach $1 million, highlighting the current price (around $107,000 - $109,000) as a good entry point, comparing it to the early days of the dot-com era [1][13] - The industry suggests that investing in Bitcoin is like buying Apple stock in the 90s or Amazon in the early 2000s, indicating significant growth potential [18] Financial Literacy & Wealth Management - The industry stresses the importance of financial literacy, especially for young athletes from underprivileged backgrounds, to manage their wealth effectively [3][6] - The industry advocates saving and investing early in one's career to leverage compound interest, highlighting the difference between 12% of $1 million versus 12% of $12 million [9][10] - The industry points out that athletes often struggle to maintain wealth due to lavish lifestyles and lack of financial education [5] - The industry suggests crypto offers higher returns (12% in safe vaults) compared to traditional banks (4%), providing avenues for passive income [8] - The industry warns against relying solely on traditional financial advisors, who may offer limited investment options and charge commissions [28][29] Mass Adoption & Future Trends - The industry aims to bridge the gap in crypto adoption by educating and providing safe advice, encouraging individuals to open wallets and invest in Bitcoin or Ethereum [33][34] - The industry anticipates more athletes will want to be paid in Bitcoin as they recognize its growth potential [19] - The industry sees a significant growth potential in the crypto space, estimating that the current adoption rate is only around 3%, leaving 90-95% room for expansion [32]
