More Moronic Morons
Maybe it's like a family feud; after all, Mark Cuban is part of the Forbes list of the 400 richest Americans. Seems, though, the owner of the Dallas Mavericks was a little peeved with the magazine's trying to compare the sale of his Broadcast.com to Yahoo for $5.7 billion in 1999 to YouTube's recent sale to Google for $1.65 billion. After all, Cuban had said only a few weeks ago that anyone who bought YouTube was "a moron." How was this any different from how he made his billions, Forbes wanted to know:
Totally different, a touchy Cuban replied by e-mail: Broadcast.com had a valid business model and has grown under Yahoo. Cuban's basis for his YouTube take: It will be "sued into oblivion" (like Napster) over the millions of unlicensed movie, television and music clips posted on the site. Between Broadcast.com and YouTube, "there is no foundation for valuation comparisons," Cuban declared. Again using one of his favorite characterizations, he called our view of financial history "moronic."
In related news, I am simply a moron. --Robert Wilonsky