After committing your entire childhood youth to be able to play 20 years in the NBA, one might ask what’s next? Well, for former NBA superstar and five-time champion Kobe Bryant, it’s easy: invest.
On Monday Kobe announced he was partnering with entrepreneur Jeff Stibel to start a $100 million venture capital fund aimed to develop companies and ideas whose focus is technology.
Stibel and Kobe, who have already been eyeing and making attractive investments opportunities for the past three years (LegalZoom, The Players’ Tribune and Body Armor just to name a few) made it an official union today as they rang the bell at the New York Stock Exchange.
A bearded Kobe Bryant ringing the opening bell at the New York Stock Exchange announcing his new $100M investment pic.twitter.com/qAB74wCJQ4
— Darren Rovell (@darrenrovell) August 22, 2016
In an interview with the Wall Street Journal, Kobe discussed what kind of companies he and his partner will be on the lookout for, how this business venture is going to be different from his fellow contemporaries’—Shaq O’neal, Stephen Curry, Carmelo Anthony Andre Iguodala all have investments projects of their own—and how competition, surprisingly so, is not a motivating factor for the Black Mamba.
“I think it’s interesting that the immediate reaction from people would be competitiveness between myself and others,” he said. “I’m more interested in how I can help Shaq, Melo, or Iguodala.”
Kobe goes on to say that it’s all about studying the market, and that while sometimes it can be something you can “spot right away,” it may not always be that case.
other times, not so much. It’s the inner belief that a person has that he will endure no matter what the obstacle may be. It’s that persistence, the entrepreneur doing what he or she truly believes in and truly loves to do.”
It’s good to have good examples of athletes-turned businessmen. The history athletes and their poor financial decisions is a trend that thankfully is starting to change, one Kobe has successfully pushed forward.