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Mark Cuban Admits Dorm Chain Letter He Used to Fund College Was a Ponzi Scheme

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Mark Cuban devised a chain letter in his college dorm during the 1980s to help pay his tuition. The scheme asked fellow students for contributions and sent a share of the money back to earlier participants. Cuban has since acknowledged that the arrangement functioned like a Ponzi scheme. His entrepreneurial streak was already visible earlier, when he sold trash bags to neighbors. After graduating, he moved to Dallas and built technology skills while working.

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Mark Cuban Admits Dorm Chain Letter He Used to Fund College Was a Ponzi Scheme · ShortSingh