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re: Is Magic Johnson one of the dumbest, most successful people of all time?
Posted on 5/21/19 at 11:05 am to saint tiger225
Posted on 5/21/19 at 11:05 am to saint tiger225
quote:
No one ever said you had to be smart to play ball and be successful at it.
He made like a billion dollars post playing through businesses.
He is a highly successful businessman, but he comes across as dumb as a rock. It is pretty interesting.
0
Posted on 5/21/19 at 11:07 am to TnMountaineer
Kyle Jenner has about as much influence in day to day operations of her makeup business as Magic does in his movie theaters and Starbucks. Neither do anything, but lend their image. Magic trying to sell he is a world class businessman just shows that he is fake.
Magic going scorched earth on the Lakers front office is just him trying to put media/public pressure on Jeannie so she will sell. Only problem is Magic is playing checkers, while Kobe is playing chess. Pelinka is Kobe's best friend and he basically pulled the strings to ruin Magic's credibility with Laker fans. Kobe has for sure taken the lead for ownership when Jeannie inevitably sells.
The battle between Magic/Kobe and eventually LeBron for ownership will be a great 30 for 30 once it all shakes out.
Magic going scorched earth on the Lakers front office is just him trying to put media/public pressure on Jeannie so she will sell. Only problem is Magic is playing checkers, while Kobe is playing chess. Pelinka is Kobe's best friend and he basically pulled the strings to ruin Magic's credibility with Laker fans. Kobe has for sure taken the lead for ownership when Jeannie inevitably sells.
The battle between Magic/Kobe and eventually LeBron for ownership will be a great 30 for 30 once it all shakes out.
This post was edited on 5/21/19 at 11:08 am
Posted on 5/21/19 at 11:15 am to TaTa Toothy
You shouldn't really correlate business success with intelligence. It doesn't work that way.
Posted on 5/21/19 at 11:17 am to TaTa Toothy
As a coach and NBA executive of some kind he hasn't been very good at all. Bit in business he's made some smart moves and yes surrounded himself with good people which takes some intelligence.
He has worked at some type of business besides basketball his entire life. He used to help with his dad's own business hauling junk and stuff and Magic started working as a teenager at a local convenience store in Lansing before he made it big at MSU.
Magic has had a knack for business especially in retail services and shops.
He has worked at some type of business besides basketball his entire life. He used to help with his dad's own business hauling junk and stuff and Magic started working as a teenager at a local convenience store in Lansing before he made it big at MSU.
Magic has had a knack for business especially in retail services and shops.
Posted on 5/21/19 at 11:22 am to Ralph_Wiggum
quote:
As a coach and NBA executive of some kind he hasn't been very good at all. Bit in business he's made some smart moves and yes surrounded himself with good people which takes some intelligence.
I guess through sheer randomness it's possible that Magic is a blithering idiot who succeeds in spite of that idiocy.
But I see plenty of "smart" people who had the opportunity for success and blew it big time. They invest poorly, overestimate their acumen, trust the wrong people, or all of the above. As you've alluded to, part of business intelligence is knowing your limitations and identifying people that not only are competent but that you can trust.
This post was edited on 5/21/19 at 11:24 am
Posted on 5/21/19 at 11:23 am to TaTa Toothy
Magic is one of the most successful people ever who has an AIDS dick....
Posted on 5/21/19 at 11:26 am to TaTa Toothy
He was arguably the highest basketball IQ ever and has built a personal net worth of 600 million.
He's never going to come off as a polished intellectual, but he obviously knows what he's doing in some areas of life. He's achieved extraordinary success in basketball and business.
He's like Jordan, who also has done poorly as a front office guy. Neither is necessarily a rocket scientist, but they understood basketball and took that money and made solid business decisions with it.
Before you criticize Magic's business acumen, think of how many athletes invest in dumb **** and go broke.
He's never going to come off as a polished intellectual, but he obviously knows what he's doing in some areas of life. He's achieved extraordinary success in basketball and business.
He's like Jordan, who also has done poorly as a front office guy. Neither is necessarily a rocket scientist, but they understood basketball and took that money and made solid business decisions with it.
Before you criticize Magic's business acumen, think of how many athletes invest in dumb **** and go broke.
Posted on 5/21/19 at 11:39 am to TaTa Toothy
Posted on 5/21/19 at 11:40 am to Rep520
The only smart decision Magic has made business wise was networking and taking the advice of his buddies in the business world. The notion Magic researched business opportunities on his own is lunacy. Someone said, "hey Magic, Starbucks is a great investment", and Magic listened. The guy can barely speak, so I seriously doubt he has any concept of finance or accounting which is required in any business venture.
Posted on 5/21/19 at 12:45 pm to Rep520
quote:
Before you criticize Magic's business acumen
thank you for the laugh dude
Posted on 5/21/19 at 2:02 pm to TaTa Toothy
He has learned the secret to life, in 2019 when shite goes south no one blames the Blackman..
Posted on 5/21/19 at 3:30 pm to BayouCatFan
quote:
The only smart decision Magic has made business wise was networking and taking the advice of his buddies in the business world. The notion Magic researched business opportunities on his own is lunacy. Someone said, "hey Magic, Starbucks is a great investment", and Magic listened. The guy can barely speak, so I seriously doubt he has any concept of finance or accounting which is required in any business venture.
Magic didnt just buy Starbucks ,but invested in under served minorty communities against most peoples advice. He then sold the 105 profitable businesses back to Starbucks for a profit. Magic invested in communities few others would & partnered with Blue Chip communities that he understood like: Starbucks, Pepsi Bottle distribution centers , 24 hour Fitness, Burger King , etc....
He purchased nearly abandoned shopping centers in minority Inglewood & successfully rejuvenated them & sold them. Bulit several Magic Johnson Theaters in minority communities & sold them to AMC Theaters.
MJ enterprises purchased the Transamerica center in urban Los Angeles ,renovated & sold it for a profit. Built the Sunset+Vine TV production studio in Hollywood.
" MJ enterprises purchased majority share(60%) in Eqitrust Insurance company with investments of $14.5 billion dollars. MJ enterprises purchased majority share in Los Angeles largest Black owned bank( 3 branches) . Eventually consolidated with largest Black owned Bank in America One United Bank.
Magic Johnson mostly dispensed with the advice of businessmen who believed these inner city / urban neighborhoods werent good investments. He proved them wrong.
Posted on 5/21/19 at 3:39 pm to sugar71
quote:
Magic Johnson mostly dispensed with the advice of businessmen who believed these inner city / urban neighborhoods werent good investments. He proved them wrong.
That's the thing about Magic. The idea that chains could do well in the inner city because it was an underserved market isn't Einstein level analysis.
It's just solid, real world knowledge combined with Magic using capital (in money and his name) to get something done.
Yeah, Magic wasn't going to be Elon Musk, building tech ideas from scratch. He did take a solid, common sense idea and leverage it with his fame and money. That's not bad business.
Posted on 5/21/19 at 3:45 pm to Mr Perfect
quote:
he surrounded himself with right ppl essentially through nepotism dude. never give magic credit ever
Who are these elusive people behind Magic Johnson? His people ( agents) declined a lucrative stock offer ofrom upstart Nike in the early 80's ( pre Jordan & Bo) which would have eventually made Magic a billionaire perhaps. Magic only earned $17/18 million dollars when he retired thanks to the elusive " people" mis guiding him & costing him maybe hundreds of Millions or more in Nike Stock.
Magic was disgusted ( still disgusted) & mostly dispensed with these peoples advice and built Magic J Enterprises from scratch by investing in urban/ inner city communities most businessmen ignored. Magic understood & believed in these communities & it paid off handsomely for him. He understood Blue Chip companies.
I'll wait on the names of these elusive people who built MJ Enterprises for Magic.
Posted on 5/21/19 at 5:01 pm to sugar71
quote:
sugar71
If you really think Magic did any legwork for his companies, then you very naive to the real world. When you are a star athlete in the media capital of the world networking opportunities are around every corner. Due to his fame, Magic met very rich and powerful people who wanted to be his friend. They in turn introduced him to advisors who came to him with opportunities backed up by marketing studies as well as financial investors. I doubt Magic ever even invested his own money. Magic, who is a media whore, claims it was all him, but that's a bunch of crap.
This post was edited on 5/21/19 at 6:51 pm
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