The Securities and Exchange Commission has caught up with William "Boots" Del Biaggio, a venture capitalist once dubbed a "young financial god," on charges of defrauding clients and banks out of $65 million — in part so he could buy a sports team.

Will Leitch is the editor of Deadspin, our sister sports site, and his book God Save The Fan is now available at bookstores everywhere. He makes a cameo appearance here discussing why rich techies should avoid the world of team ownership.

Recently, I traveled to Dallas to interview Dallas Mavericks owner Mark Cuban for GQ magazine. (Stupidly, I mentioned my day job, as editor of Valleywag sister site Deadspin, at the beginning of the interview. I once posted about Cuban getting a lap dance from a friend, in what I thought was a clearly joking manner. Cuban was not amused and spent most of the interview accusing Deadspin of being the Inside Edition of sports. So that was fun.)