Carmelo Anthony becomes venture capitalist

25/07/2014 17:23 Carmelo Anthony: All Star, Olympian, venture capitalist? The New York Knicks' just resigned star has started a fund to put money into technology startups with associate Stuart Goldfarb, a former NBC and Bertelsmann executive. M7 has already invested an undisclosed amount to Hullabaloo, which makes kids entertainment tailored for hop over to this website.ills. In declaring the venture, 'Melo states that he's long "been interested in technology," and will be looking to raise capital for businesses which specialize in wearable tech. Melo's life might be destined to collide, the increasing push to incorporate Google Glass in professional sports seems these two areas of' with it. Having just signed an extension with the Knicks for around 'Melo is only the latest NBA star to parlay his fortune. Steve Nash's Consigliere Brand Capital counts Contently and BirchBox while Jamal Mashburn and Michael Redd are locating life after basketball Air Force one 07 sale.n enterprise capitalism. Hall of Famer David Robinson is probably the most well-known example, having co-founded Admiral Capital Group, a private equity firm specializing in real-estate. NBA players found investment firms' tendency is part of the broader tendency of athletes establishing company enterprises in preparation for their post-retirement careers. Last month, Michael Jordan became the first and second billionaire sportsman from his endless endorsement partnership with Nike, the NBA, thanks in big part to his ownership stake in the Charlotte Hornets, and ancillary companies and car dealerships. These players seem to be heeding the warning supplied by the bevy of retired players gone bankrupt, an issue that gained national visibility in the 2009 ESPN 30 for 30 movie, "Broke." From Latrell Sprewell to a multiple champ including Scottie Pippen, NBA history is riddled with cautionary tales, none with a higher drop from grace than Allen Iverson. Iverson's an extraordinary case, a catastrophe exceptional in its protagonist's stark, swift death but not unique in its class. In addition to the spending that is reckless and vulturistic entourage that often follow the unanticipated windfall basketball players regularly go broke because of financial illiteracy and poor asset management. The league and players' union are working to battle this, promoting a financial education program and a rookie transition program to help players manage their money during and after their playing days. Robinson, Nash and now 'Melo are facing that facet head to ensure that history doesn't repeat itself. 'Melo in particular should tread softly, however. As much as mistake finances leads to players' insolvency, so, too, do inferior investment options. Sure, Antoine Walker gambled millions away, but he also sunk more than $10 million in i https://www.retailblazer.com/best-savings-for-low-nike-blazer-white-red-mens-shoes.html.vestment properties owing to the spectacular incompetence of his financial advisor. Let us expect 'Melo is more knowledgeable but if anything, at least he's an experienced associate in Goldfarb. 'Melo can say he's in great hands with his venture capital endeavor. Not as much could be said relating to this high-end watch magazine you didn't know he part-owned.