Morning Folks!!
In 1997 I started making my annual July 4th post
so why change now?
Many people
have asked me about the “5 year nap” that Franky talks about in a post that
just happens to have been 3 years ago today. July 4 2007 for an event that
happened in 2004 while I was on a cruise. I was with 2 of my very close friends and we were on the
island for a few hours. Franky picked us up during an absolute monsoon and we
had a long lunch. As you might
imagine Franky had many suitors for his portfolio. Until now, I have never
talked about the contents of that conversation but after reading his 2007 post
and referring back to 2004, I think I am in safe territory so many years later.
To make a long story short, the deal on the table would have
been much bigger than Yung Ye. It was a colossal deal. Franky asked my take on
it. I said take a 5 year nap and when you wake up you will be better off. Point
being, as I have experienced since, if it isn’t ALL cash up front, you can only
count the part of the deal that is. So my advice was, if you would be happy
with the amount of cash up front and the rest is gravy……grab it. On the other
hand, if it is not all cash, then you have to expect you will get nothing on
the other end and all the domains will be gone. The ONLY thing you can EXPECT to see are the dollars up
front.
Well, it’s just over 5 years, there is only one person on
the planet that can say whether my advice was good or it was not. I have debated
posting this as my July 4th post, but then yesterday Franky made my
decision for me by his first blog post in years. That post answered many
questions. I for one am glad Franky did not sell. Hope he feels the same. Did my advice change the course of history? Probably will
never know.
Either way, Franky came to the game late, never whined about
it, just made things happen day in and day out. Quite
a difference from what we see today.
And when you are enjoying the day, take a moment to remember
those that are really working hard on our behalf and risking their lives. The folks that give us the freedom to do what we choose. I don't know why they do what they do, but thank God there are folks that do this for US.
Rick Schwartz
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