While many of us think of him as the Microsoft co-founder, it's easy to forget that he owned not one, but two major sports franchises. Also, an interesting investor. ESPN's Brady Henderson spoke to Starwave CEO Mike Slade:
"I remember in 1993, as we were starting up, Paul asked me how much it would cost to get a sports site off the ground," Slade recalled on Monday night. "And I had no idea so I just said '$50 million.' And he said, 'OK.' And I was like, 'That's it? Not like, 'Why not $40 million?'"
"And that's why it got off the ground," Slade said. "Because it took an unusual investor, with unlimited funds, who loved sports and didn't care that it was too early to have any business plan."
He was just 35 years old when he bought the Portland Trail Blazers!Read more...