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Friday, October 08, 2004
Just catching up on what little coverage there is of the Web 2.0 conference. Stefanie Olsen (CNET)'s coverage seems to be the most hard-boiled of the lot, and why not? With speakers like Mark Cuban showing up to make comments about the current re-bubble making for "great theatre," experienced reporters may feel like it's deja vu all over again. What's next, a Trump cameo where he mugs for the cameras and tells IE it's "fired"?
The concrete details of Cuban's speech sound breathtakingly pedestrian when compared with the big picture stuff - sort of like the Seinfeld episode when Elaine drops by the fake J. Peterman's pad and it's all cheap potted plants, leather-and-chrome "guy furniture," "let's get a pie," and "they moved the cable channels again."
Cuban mentioned that he got out of his investment in tiny search engine company Mamma.com as soon as he found out they'd completed a dilutive private placement of shares and warrants to raise cash in June.
At the time, the company said they'd potentially use the cash for acquisitions. Recently, they initiated a share buyback program with the available cash. Were they, in essence, shorting their own company?
Although you'll see him sporting pink hair this fall, Cuban's actions are rarely as random as they appear to be.
Posted by
Andrew Goodman
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D'oh!
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