The Hidden story

26 Oct

First off – the Dallas Cowboys blundered, and a bunch of domainers (lead by Eric Rice) picked it up (for a much higher price) during the ensuing silent auction.

So when I see posts like this which somehow make it as if Rick Schwartz put the domainers together – I shake my head. It was Eric Rice, not him. But that isn’t the real point – it’s the hidden move by Rick Schwartz.

According to his blog post, he chipped into this consortium, putting up 11% of the amount. 11% of $370,000 = $40,700. A sizable investment.

However – Rick Schwartz gets 10% of the net sales during the auction process. At $370,000 that means he gets $37,000 back. So really for under $5000, he ended up owning 11% of

Congrats to this new team of investors. They saw opportunity and seized it. The American dream is alive and well and this will go down as one of the worst decisions in corporate history.

Beyond the typical hyperbole, if this was an opportunity for anyone, it was for Rick. Well played.

1 Response to The Hidden story



October 26th, 2007 at 8:27 pm

But wait… it gets even better!

Some of the original “investors” (and I do use that term loosely) have sold out at ~2-3x the original share price.

Since these deals are done under Rick’s roof, Rick’s rules are he gets 5%… so now he gets into everybody’s pocket again!

Gee… puts a whole new spin on why someone would put so much spin on what a great value this is and how all the investors are so smart and advanced, huh?

Yeah, the American Dream is alive and well alright – for Rick.