• Mark Cuban turned 91% of his employees into millionaires

    From a425couple@21:1/5 to All on Fri Jun 7 15:34:48 2024
    XPost: or.politics, ca.politics, seattle.politics

    from https://www.cnbc.com/2024/06/07/mark-cuban-how-i-turned-most-of-my-companys-employees-into-millionaires.html

    Mark Cuban turned 91% of his employees into millionaires when he sold a
    company for $5.7 billion
    Published Fri, Jun 7 20249:00 AM EDT
    Alex Koller
    @ALEXKOLLER_

    LOS ANGELES, CA - JANUARY 10: Dallas Mavericks owner Mark Cuban looks on
    during a NBA game between the Dallas Mavericks and the Los Angeles
    Clippers on January 10, 2023 at Crypto.com Arena in Los Angeles, CA.
    (Photo by Brian Rothmuller/Icon Sportswire via Getty Images)
    Dallas Mavericks owner Mark Cuban looks on during a NBA game between the
    Dallas Mavericks and the Los Angeles Clippers on January 10, 2023 at
    Crypto.com Arena in Los Angeles, CA. Icon Sportswire | Icon Sportswire |
    Getty Images
    When Mark Cuban sells a business, he always sets aside some of the
    proceeds for one specific purpose: divvying it up among the company’s employees.

    “In every business I’ve sold I’ve paid out bonuses to every employee
    that was there more than a year,” Cuban posted Tuesday on social media platform X. The bigger the acquisition, the larger the payout: 300 of Broadcast.com’s 330 employees became millionaires when the audio
    streaming service sold to Yahoo for $5.7 billion in stock in 1999, Cuban
    wrote.

    Cuban started the practice after selling his first company, a software
    firm called MicroSolutions, for $6 million to CompuServe in 1990. He
    took 20% of the total sale price, he tells CNBC Make It, and paid it out
    to 80 employees — which would equate to $15,000 per staffer, if
    distributed equally.

    Cuban did something similar upon selling his majority stakes in HDNet,
    now known as AXS TV, in 2019 and the NBA’s Dallas Mavericks last year,
    he wrote in his post. “And only HDNet had any layoffs right after the sale,” he added.


    Cuban’s co-founding and sale of MicroSolutions marked his first big entrepreneurial success and a triumph over setback: He nearly went broke
    after his secretary stole roughly $82,000 from the company.

    “It was f---ed up,” Cuban told Barstool Sports’ “Pardon My Take” podcast
    in 2020. It also presented a silver lining, he added: “It made us get
    our s--- together.”

    The business bounced back, and Cuban sold MicroSolutions five years
    later, making him a millionaire. “You have to hustle the most when you
    think it’s the darkest,” he said.

    In 1995, Cuban invested in and took operational control of AudioNet, the streaming platform that eventually became Broadcast.com. The business
    idea was met with skepticism at a time when the internet was still
    fledgling, he told CBS’s “Sunday Morning” last year.

    “There was nobody doing it. Nobody,” Cuban said. “People thought I was
    an idiot.”

    Upon selling Broadcast.com, Cuban received a large portion of Yahoo
    stock, which was considered highly valuable at the time. But instead of
    holding onto it, he quickly cashed out. He was happy with the money he’d earned and suspected the stock market was overpriced, he told GQ in 2022.

    Months later, the dot-com bubble burst and Yahoo’s share price sank. “It taught me a hell of a lesson: When you just chase dollars, it never
    works out well,” Cuban said.

    Last year, Cuban sold a majority stake in the Mavericks to the Adelson
    and Dumont families, who run Las Vegas Sands Corporation, in a deal
    reportedly valuing the franchise at roughly $3.5 billion. He retained a
    27% ownership stake and control of basketball operations, the Associated
    Press reported at the time.

    The deal ended Cuban’s longtime status as an NBA majority owner. In
    2000, the newly minted billionaire purchased his initial stake in the
    team for $285 million — without negotiating or trying to push the price
    down by even a penny.

    “It was all about fun,” Cuban told “The Draymond Green Show” podcast, in
    an April episode. “That was like a dream ... I didn’t even negotiate, I
    was just like, ‘Yes, whatever.’”

    Cuban’s current net worth is $5.4 billion, according to Forbes.

    Want to be a successful, confident communicator? Take CNBC’s new online course Become an Effective Communicator: Master Public Speaking. We’ll
    teach you how to speak clearly and confidently, calm your nerves, what
    to say and not say, and body language techniques to make a great first impression. Sign up today and use code EARLYBIRD for an introductory
    discount of 30% off through July 10, 2024.

    Plus, sign up for CNBC Make It’s newsletter to get tips and tricks for success at work, with money and in life.

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Loran@21:1/5 to All on Sat Jun 8 10:28:21 2024
    XPost: or.politics, ca.politics, seattle.politics

    It's on, we're now in the early stages of a Heinrich Event leading up to
    full glaciation shortly:

    https://www.youtube.com/watch?v=N-1q5cW_V3M

    TRIPLE CATASTROPHE - 6000-Year Cycle Happening Now

    https://www.science.org/doi/10.1126/science.adh8369
    Heinrich event ice discharge and the fate of the Atlantic Meridional Overturning Circulation

    YUXIN ZHOU HTTPS://ORCID.ORG/0000-0002-3523-8524 AND JERRY F. MCMANUS HTTPS://ORCID.ORG/0000-0002-7365-1600Authors Info & Affiliations
    SCIENCE
    30 May 2024
    Vol 384, Issue 6699
    pp. 983-986
    DOI: 10.1126/science.adh8369

    Editor’s summary
    Will ice mass loss from the Greenland Ice Sheet caused by climate
    warming disrupt large-scale ocean circulation? Zhou et al. reconstructed iceberg production rates during the massive calving episodes of the last glacial period, called Heinrich events, when icebergs did affect ocean circulation. The authors found that present-day Greenland Ice Sheet
    calving rates are as high as during some of those events.

    https://cosmosmagazine.com/science/could-the-day-after-tomorrow-come-true/

    A German scientist has echoed the warnings of the film The Day After
    Tomorrow, finding that a major oceanic circulation system is becoming
    more unstable – with concerning implications for the climate.

    A study published in Nature Climate Change observes that the Atlantic Meridional Overturning Circulation (AMOC) – a massive ocean current
    system that circulates through the Atlantic – may have been losing
    stability over the past century, due to the influx of melted freshwater
    into the ocean.

    This is concerning because the AMOC is responsible for the Gulf Stream,
    a swift current that brings warm water masses from tropical regions to
    the northern hemisphere. Because it redistributes heat, this circulation
    system is not only responsible for creating mild temperatures across
    Europe but also influencing weather systems across the world.

    “The Atlantic Meridional Overturning really is one of our planet’s key circulation systems,” says Niklas Boers, the study’s author from the Potsdam Institute for Climate Impact Research, Free University Berlin
    and Exeter University.

    If it collapses, it could have impacts such as significantly cooling
    Europe and affecting tropical monsoon systems.

    “We already know from some computer simulations and from data from
    Earth’s past, so-called paleoclimate proxy records, that the AMOC can
    exhibit – in addition to the currently attained strong mode – an alternative, substantially weaker mode of operation,” Boers says.

    https://arxiv.org/abs/2402.14877

    Machine-learning prediction of tipping and collapse of the Atlantic
    Meridional Overturning Circulation
    Shirin Panahi, Ling-Wei Kong, Mohammadamin Moradi, Zheng-Meng Zhai,
    Bryan Glaz, Mulugeta Haile, Ying-Cheng Lai
    Recent research on the Atlantic Meridional Overturning Circulation
    (AMOC) raised concern about its potential collapse through a tipping
    point due to the climate-change caused increase in the freshwater input
    into the North Atlantic. The predicted time window of collapse is
    centered about the middle of the century and the earliest possible start
    is approximately two years from now. More generally, anticipating a
    tipping point at which the system transitions from one stable steady
    state to another is relevant to a broad range of fields. We develop a machine-learning approach to predicting tipping in noisy dynamical
    systems with a time-varying parameter and test it on a number of systems including the AMOC, ecological networks, an electrical power system, and
    a climate model. For the AMOC, our prediction based on simulated
    fingerprint data and real data of the sea surface temperature places the
    time window of a potential collapse between the years 2040 and 2065.

    https://www.wgbh.org/news/commentary/2021-03-24/weve-known-for-years-global-warming-could-lead-to-a-new-ice-age-why-is-no-one-doing-anything

    Call it a cascade of calamitous events.

    According to scientists, a “cold blob” of water has formed south of Greenland. The blob’s origins can be traced to rapidly melting glaciers, which in turn is the consequence of global warming. The blob could
    impede the flow of the Gulf Stream, which carries warm water north. And
    if that happens, the temperature in Europe may drop steeply, hurricanes
    may become more intense, and sea levels on the East Coast of the United
    States may rise even more rapidly than they are already.

    “We’re all wishing it’s not true,” Peter de Menocal, a scientist at the Woods Hole Oceanographic Institution, told The New York Timesearlier
    this month. “Because if that happens, it’s just a monstrous change.”

    A monstrous change indeed — and one that we’ve known about for decades.
    The possibility that climate change could flip and, in just a matter of
    years, plunge part of the world into a new ice age is something that has occasionally made its way into the media. Yet the world has done very
    little about it.

    http://www.longrangeweather.com/climate_change.htm

    Recently, John Coleman, the founder of the Weather Channel, stated that, "manmade global warming is the GREATEST SCAM IN HISTORY!"

    He went on to add, "I am amazed, appalled and highly offended by this
    theory of global warming based on fraudulent science."

    He said this, folks, not me. (But, I certainly agree with Dr. Coleman.)

    Coleman’s climatological opinion has been recently supported by a top observatory that has been measuring a rather dramatic decrease in
    sunspot activity. These scientists are predicting that global
    temperatures will drop by at least two degrees in the next 20 years.

    Our friend, Robert Felix, author of "Not By Fire, But By Ice," believes
    that this significant cool down could possibly be the start of at least
    another "Little Ice Age," possibly a new GREAT ICE AGE, which is overdue following 11,500 years of generally warmer than normal global temperatures.

    This latest period of naturally-occurring warming peaked a decade ago in
    1998. It was the strongest such cycle of warming since the days of Leif Ericcson around 1,000 A.D. At the time, the mighty Vikings were actually farming parts of Greenland growing wheat, vegetables and raising cattle.
    They actually grew tomatoes and grapes!

    Robert Felix gives this warning: "Living in the northern U.S. could
    eventually be hazardous to your health!"

    He goes on to say, "the next major ice age could begin any day...next
    week, next month or next year." (Get that snowblower tuned-up.)

    Felix believes that someday soon we’ll be "buried beneath nine stories
    of ice and snow as the bitter climate of Greenland descends upon Canada, Britain, Norway, Sweden, the U.S. and other northern regions ---
    practically overnight."

    It’s all part of a dependable, predictable, natural cycle of climate
    that returns "like clockwork" every 11,500 years.

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)