A local business contact of mine, who I’ll just say is not an outsider to the the discussions surrounding Robert Pera’s bid to buy the Memphis Grizzlies, told me this today about Ubiquiti Networks, Pera’s technology company that’s been whipsawed lately by the stock market:
“Anytime you can be worth $1 billion and then lose a few hundred million on paper the next day, ok, that’s a scary thing,” my source said. “But – Ubiquiti’s cash flow is something like $50 million a year, and he (Pera) owns most of it.
“When you have a technology company, you have to always to reinvent and get better. It’s the same thing even with Apple. Usually, any technology in 18 months is going to be obsolete anyway.”
Just found his remarks interesting. Especially because it suggests a different way of looking at the company and about its founder. It’s like one analyst has already told me – Pera is doing something with Ubiquiti that hasn’t really been done before.