Long gone are the days of NBA stars investing in car dealerships (ala Karl Malone Honda). Now, basketball’s premier stars are investing in startups.
According to Bloomberg, Golden State Warriors star Andre Iguodala has spent many days hearing pitches from startups to invest in.
Iguodala has led the charge of NBA players looking to invest in Silicon Valley and startups, dropping hard-earned dimes into online retailer Casper, finance app NerdWallet and Zappos.com, among many others.
“Ten or 15 years ago, what did all athletes invest in? Car dealerships, franchising and real estate,” Iguodala told Bloomberg. “They couldn’t get outside that scope.”
In July, Iguodala attended the NextGen Software CEO Summit in Park City, where he spoke with founders, venture capitalists and techies about leadership and how to invest in tech.
Iduodala said athletes are well-prepapred to face the unstable tech startup world.
“Two weeks ago, I get an email. ‘Dear All Investors, Sorry to inform you we’re closing the shop.’ Out of nowhere,” he said while speaking in Park City. “It’s the same journey we’ve taken as basketball players. How many are there in the NCAA? In high school? And we’ve stayed on this path. It’s all or nothing.”
Read more at Bloomberg.