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Yuchun Lee MIT BJ Team Member Builds $500 Million Company

Monday, March 21, 2016 : MEMBER OF M.I.T. BLACK JACK TEAM SAYS ACTIVITY PREPARED HIM FOR A CAREER IN BUSINESS.
 
Yuchun Lee built and sold a $500 million company.
 
In an interesting interview with Business Insider this week an erstwhile member of the famous MIT blackjack team that won millions off Las Vegas casino operators at the turn of the century said that the experience and discipline necessary had prepared him for a successful business career.
 
Blackjack prodigy Yuchun Lee joined the team after graduating from MIT and starting his own company, a marketing software enterprise titled Unica which he built up and subsequently sold to IBM for $500 million, joining the "Big Blue" executive team for several years as part of the deal.
 
The entrepreneur launched a new company, Allego in 2013, which is enjoying success as a corporate video training service and now has over 20,000 users across 50 different organisations,
 
"Blackjack has really strengthened me over the years, to go through the ups and downs of business," Lee told Business Insider.
 
The blackjack experience, which saw him travelling to Las Vegas to play almost every weekend for six years as part of the team, taught him valuable lessons, Lee says.
 
Among them was how to develop the courage and commitment to survive the swings in a business cycle. Lee says he went through 4 recessions and 3 wars during his years running Unica, and part of the success was having that "emotional fortitude" to not only succeed but prosper.
 
"If you ever want to experience volatility, many ups and downs emotionally, there’s nothing better than joining a professional blackjack team where you can win or lose so much money just by the sheer randomness of the game," Lee said. "It's taught me to have conviction in what you do."
 
It also steeled him for the "David and Goliath" challenges that inevitably face small start-ups entering an established market, Lee said.
 
His time with the famous MIT team saw the tightly disciplined and professionally managed outfit doubling its money every year, earning millions of dollars on which Lee says it paid all required taxes.
 
His own discipline included rigid adherence to keeping his blackjack earnings separate from his business interests, even though five of his Unica employees also played on the MIT team, and trained with him after hours.

He also developed the confidence to "bootstrap" his own start-ups, eschewing the involvement of venture capital companies in favour of retaining responsibility, control and the ultimate rewards. Lee believes that there is a danger of becoming "less discriminatory" when it comes to spending money and allocating resources if you have too much money in the early stages of a business.
 
"Not having money is a strong incentive to help you make the best decision possible," he told Business Insider.
 
"You don’t have to be smart or have as much resources as your competition, but whenever you see that you're doing something wrong, if you can correct it quicker, you can still beat the competition," Lee said. "That’s in my experience one of the things that we treasure the most as a business."

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Gambling News :

PokerStars.CZ has launched in the Czech Republic - PokerStars.CZ has launched in the Czech Republic, becoming the first licensed online casino and poker operator under the Czech Republicís new gaming regulation. This follows on from the approval by the Czech State Supervision of Gambling and Lotteries Department.

Luckia Games in Partnership with NYX Gaming Group - NYX will provide Luckia with its open gaming system, NYX OGS, and open platform system, NYX OPS, to support the growth of its established Spanish operation.

Sunbets to Sponsor Sutton United - Online betting operator Sun Bets has inked a one-off sponsorship deal with English association football club Sutton United for its upcoming televised clash against Arsenal FC in the FA Cup fifth round tie.

Time is Money Slot Launches - Set to a catchy tune, Time is Money offers a free spins bonus where all wins are multiplied by up to x12 by a random multiplier, selected from the time traveling clock.

ArenaCube Signs 3 New Deals - Under their strategic partnership, ArenaCube and Kiron will develop and launch a new version of Arena Challenge in 2017. The new version of the game will carry Kironís virtual content.

First Woman to Win a WPT Playground Championship - Besting a field of 380, in the C$3,500 buy-in event, Zajmovic beat Jean-Francois Bouchard in heads up play, pocketed the C$261,000 first prize and a seat in the season ending WPT Tournament of Champions.

NHL Odds: Oilers-Blackhawks at the United Cente - Fans at the United Center will be treated to a potential Western Conference playoff preview this Saturday when the upstart Edmonton Oilers visit the Chicago Blackhawks. The puck drops at 7 PM ET on WGN.

2017 Partypoker.net WPT Playground main event Results - Although she entered the heads up against Jean-Francois Bouchard with a chip deficit, Zajmovic was able to get herself back in the game with some skillful and disciplined playing, eventually overtaking the leader and finally leveraging her chip advantage into a decisive win.

IGT In Deal With Norsk Tipping - International Game Technology has announced a new contract signing which will see it providing interactive casino and Instant Win game libraries and custom games through a remote game server to Norwegian gambling group Norsk Tipping.

ZYNGA POKER ENJOYS IMPRESSIVE GROWTH IN 2016 - By re-focusing on the mobile environment and poker, social gaming giant generates revenue of $741 million - without offering real money games!

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