Elon Musk beat Jeremy Patauer to acquire X.com for $10,000, a missed opportunity with potential value as a parent company for Musk's ventures.
Jeremy Patauer had a successful career in the toy industry, working with companies like Mattel and Jack specific and leading his own successful toy company called Wicked Cool Toys.
Deep dives
Missed Opportunity: X.com
Jeremy Patauer had the chance to buy X.com for $10,000 but hesitated. Elon Musk beat him to it. Jeremy envisioned X.com as a potential parent company for all of Musk's ventures, similar to how Meta is the parent company to Facebook. However, Musk rebranded Twitter as X instead. Jeremy reflects on the missed opportunity and the potential value X.com could have had.
From Domain Names to Toys
Jeremy Patauer transitioned from his early involvement in domain names to working in the toy industry. He joined Mattel and later moved to Jack specific where he played a key role in growing their action figure business. Patauer's successes led him to become the Chief Operating Officer of Jack specific's animation division, before eventually founding his own toy company called Wicked Cool Toys. He led Wicked Cool Toys to significant growth and acquisitions, including securing global rights to Pokemon before its massive success with Pokemon Go. Eventually, the company was acquired by Jazzwares and later sold to Berkshire Hathaway. Patauer reflects on his career and the various successful toy brands he helped create.
Highlights in the Toy Business
Jeremy Patauer shares a few highlights from his time in the toy industry. He is particularly proud of creating the Classic Superstars line for WWE, which focused on the history of wrestling and elevated the importance of alumni wrestlers. Patauer also mentions the success of Squish Malos, which his company acquired before it became the biggest toy brand in the world. Other highlights include his work with Pokemon, Coco Mellon, and various gaming and social media licenses. He expresses gratitude for his team and the opportunities he's had in the industry.
The Power of Domain Names
Jeremy Patauer emphasizes his enduring belief in the power of domain names. He mentions owning PacificPalasades.com as an example and highlights the importance of a strong and easily recognizable domain name for branding purposes. Patauer recognizes the value of good domain names and notes the emergence of alternative domain extensions such as .io and .ai. He concludes by expressing his ongoing interest in domain names and the potential of future naming systems.
A fun discussion with an early domain buyer. Have you ever passed up acquiring a domain only to kick yourself later? This week’s guest can probably one-up you. Jeremy Padawer had the opportunity to buy x.com for $10,000, only to have Elon Musk beat him to it. On today’s show, Jeremy tells the story and […]
