Mark Madsen, domain name speculator?

From the LA Times comes this weird story about Mark Madsen's second job as a domain name speculator

Posted by Royce at 8/04/2009 01:18:00 PM
Labels: , ,

4 comments:

  1. RoyceAugust 4, 2009 at 1:22 PM

    The weird part is how Madsen bought the domain name p2p.com for $110,000 from a guy who had apparently stolen it. Unlikely that Madsen knew it was stolen, but still really odd.

    Why do you think Madsen even bothers with this stuff? Do you think it's lucrative, relative to his NBA contract and other ways he could invest his money?

    ReplyDelete
  2. ScottAugust 4, 2009 at 2:07 PM

    The author makes this sound like a black market, but it's not different than Wall St, nor the real estate market. I think Madsen bothers with this cause he enjoys it. As you point out, he's already got plenty of (undeserved) contract money, and the dood graduated from Stanford, so I'm sure he's been smart with it to this point. This is probably something on the side to entertain him.

    But yes, rather oddly entertaining article!

    ReplyDelete
  3. AaronAugust 4, 2009 at 4:55 PM

    I really do get the impression that he dabbles in domain names instead of trying to open a Mark Madsen Steakhouse.

    Sports Illustrated wrote earlier in the year How Athletes Go Broke. One important feature I remember from that article is their necessity for tangibility, that is they don't like the idea of having a stock and bond portfolio. They would rather take a chance at a restaurant or nightclub, when usually only 1 in 30 private investments such as these actually work out.

    I think Mark Madsen has that same yearning for tangibility, but like Scott pointed out, he went to Stanford and he's a pretty smart guy.

    ReplyDelete
  4. RoyceAugust 6, 2009 at 11:22 AM

    Wow these stats from the article are crazy:

    • By the time they have been retired for two years, 78% of former NFL players have gone bankrupt or are under financial stress because of joblessness or divorce.

    • Within five years of retirement, an estimated 60% of former NBA players are broke.


    ... that said, this doesn't seem any different to me than the stories about Lotto winners who immediately go broke within two years or whatever. If the average person gets really rich really fast, they will not spend it intelligently.

    ReplyDelete

Subscribe to: Post Comments (Atom)