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PRO TEAMS, RECORD LABELS, AND VENTURE CAPITAL
Professional sports teams and record labels make money similarly to venture capital firms. That’s the reason why athletes and entertainers are making so much money and are drawn to technology investing; they innately understand the model because it's familiar! Follow @drivebyDraftkings to learn from top VCs, tech companies and athletes themselves!
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HOW TO VALUE YOUR BUSINESS
There is no such thing as a bad investment, just bad pricing. The breakdown of how much your company is worth boils down to 2 factors; risk & competitiveness. RISK: how many points of failure/uncertainty will my business face between now and 18 months from now? If the company has to present several hypotheses, it will likely be worthless. Conversely, if the company has launched and has proven unit economics, much of the risk has...
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DRIVE BY DRAFTKINGS
DRIVE by DraftKings , a unique ecosystem of athletes, entrepreneurs, investors, and sports business professionals, announced its official launch with investment from leading venture capital firms General Catalyst, Accomplice and Boston Seed. DRIVE will accelerate the movement of sports professionals into high-tech ventures and serve as a bridge for startups looking to innovate in sports, media, and entertainment. DRIVE encompasses two complementary components, the DRIVE Venture Studio, that creates customized programs for early-stage sports tech entrepreneurs...
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MONTHLY UPDATES
If you are a founder and send monthly updates, you can increase the acceleration of your business. If you are a mentee and send monthly updates to your mentors, you can increase your development. I learned this when I was an analyst at Goldman Sachs in 2001. How do I update everyone who has or I want to have an invested stake in my success without bugging them and “picking their brain?” How do I...
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VISION
I shared my vision with Black Enterprise , but I want to share how to refine your own vision. I actually learned my method from the Bible: Habakkuk 2: " And the LORD answered me, and said, Write the vision, and make it plain upon tables, that he may run that readeth it. 3 For the vision is yet for an appointed time, but at the end, it shall speak, and not lie: though it tarry, wait...
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BRIDGING CULTURE, SPORTS AND TECHNOLOGY
It is really exciting to see 4 new athletes, 3 entertainers, and countless others successfully create VC funds! A lot of people ask me how to get into the VC industry and how I got into this business, so I was happy that Mark Hall and Forbes took the time to profile my journey. My path began on Wallstreet as an apprentice and investing my own money first. Anyone interested in being a VC, feel free to...
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GIVING THE GAME AWAY
Very Smart Brothas  and Panama Jackson really dove in here. Most people don’t ask the “why.” For those of you from similar backgrounds as mine, I hope you can relate and share some of these thoughts on how people can channel the bad experiences and pain into passion and purpose. Send this article to any young man who wants to get into finance or VC and tell them to check this blog post out! VSB: What do you...
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DAMIAN LILLARD
Although some people think basketball players are overpaid, I think they are underpaid. The top 50 Fortune 500 companies pay their highest-paid employee (the CEO) $25-50 million per year. They even get multiples of that if they get fired. But here is the key - most of their compensation is in equity. How much equity do NBA players get? The players from the Atlanta Hawks that made the franchise what it was in the 80s...
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BUSINESS OF BASKETBALL
The business of basketball is very profitable, and athletes who could tribute the most aren’t in the top 5 in terms of benefits. These entities benefit the most: 1) Businesses in cities who have teams 2) Sportswear companies 3) The teams themselves 4) TV/ Media companies 5) Sports betting / Fantasy sports It’s only natural for athletes to invest in or gain equity in these other entities that make most of basketball revenue. They can...
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MALCOLM JENKINS
Malcolm Jenkins is one of the most respected Super Bowl champs in the game, so being able to help him expose his business partners and teammates to the ins and outs of tech investing was one of the highlights of my year. This brother is doing work in prison reform, deeply involved in the business of fashion, a great investor and reps the Philadelphia Eagles in a major way! Respect to Philly Freeway for the inspiration. When...
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