Mark Cuban Answers Business Questions From Twitter | Tech Support | WIRED
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- Опубліковано 10 тра 2024
- Business magnate, NBA owner, angel investor and self-made mogul Mark Cuban answers your questions from Twitter.
New episodes of SHARK TANK air Friday nights on ABC.
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Director: Lisandro Perez-Rey
Director of Photography: Francis Bernal
Editor: Richard Trammell
Talent: Mark Cuban
Line Producer: Joseph Buscemi
Associate Producer: Brandon White
Production Manager: D. Eric Martinez
Production Coordinator: Fernando Davila
Talent Booker: Paige Garbarini, Meredith Judkins
Camera Operator: Mar Alfonso
Sound Mixer: Sean Paulsen
Production Assistant: Ziyne Abdo
Post Production Supervisor: Alexa Deutsch
Post Production Coordinator: Ian Bryant
Supervising Editor: Doug Larsen
Additional Editor: Paul Tael
Assistant Editor: Andy Morell
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I'm glad he mentioned luck. That was a surprising level of honesty. I'm also glad that he mentioned the need to treat employees better. Those were the only reason why I let this video play.
You can use the word luck, or you could say “having the ability to recognize and take advantage of opportunities.”
The more prepared and aware you are, the more lucky you are.
He did say luck at 1:03. The very next thing he said was more important though. By far the most common way to become rich, is to be born rich.
@@doublecheckityt Just use the word luck. It shorter.
I agree. I also liked that he said people probably couldn't repeat the same success if they had to do it all over again. Reminds me of the Twilight Zone episode "Of Late I Think of Cliffordville" @T1Oracle
@@theosname this just gonna put off those who wanna be rich but arent born rich, yes some had rich parents but doesnt mean others who wanna be successful cant do the same without rich parents
Marc Cuban started a company that sells important generic drugs for almost half the price. Dude is literally saving lives and being so humble about it
Not to mention all the investments he’s made into young entrepreneurs, sports, etc. dude is actually one of the good ones
There are no good ones just less disgustingly evil
@@Eren-mt9rn what did he do that's digustingly evil
Boy you've been fooled. Learn the facts and the truth about Cuban. He's a total fraud and business idiot.
@@spike5499 Labor exploitation, I researched a little and admittedly he is better than most people of his caliber.
Only Mark Cuban can have the skill to look intimidating and inspiring at the same time!
dude just needs some botox
@@Woodshadowit actually looks like too much Botox. Sagging lower lids require surgery
@@GetWardsyou good bro?
A better question is what he's even looking at. I feel like there's a dancing dog on top of my head and he can't look away
@@GetWards I was just mildly upset the other commenter didn't know how Botox works. It's neurotoxin that relaxes muscles. So...I mean if anything his muscles look "too" relaxed. Of course, I don't think anyone *needs* cosmetic surgery, and I respect people who aren't so vein. You caught me, I do think about vanity more than I'd like.
Mark Cuban is the kind of Billionaire who actually seems fun to hang out with.
You imply that most aren't, you been hanging out with Billionaires on the regular? I cannot imagine it being anything other than an absolute blast lol.
@@djjazzyjeff1232 he's not implying that's just what you believe based on the sentence provided
Yeah.. no. Being a billionaire is antithetical to being kind, no single human should ever hold this much power and resources over others.
@@nullptr.You are a communist
@@nullptr. u must not know who mark is. everybody has a different story. not all billionaires the same.
I love Mark Cuban because he understands social responsibility for people who have an insane amount of money. Yes he has fun and has luxuries but i think he appreciates it, vs most others who just want the power.
so naive omg, grow up kid
@@Richkunst do you just read through UA-cam comments and reply with douchy responses?
I don't think I can ever accept the statement that a billionaire is a good person. Not saying he's an evil person but if he ever really felt that level of social responsibility that you speak of, he couldn't stay a billionaire.
@@nawti2371 ok
@@waynepalumbo8917 Yes, don't you? 😂
You can hear that hes a sales guy, everybody else in the videos is calm and collected and just tries to share their world with us and hes just straight up shouting at us and ngl... Definitly works. Im absolutely into it despite never having had a single thought about starting my own business 😂
Makes you instinctively think "What business could I start" 😂
And if any sales guy actually talked like that they would be not be getting a sale, especially not in todays world.
@@corail53you’ve never met a sales person then they are just like this lol
@@corail53you sound dumb
@@corail53it depends on what you’re selling and the people you’re talking to
When we eat the rich, I kinda want us to spare Mark Cuban
🤣🤣🤣🤣
Agreed 🙌🏾
Nah they all going
Yall ain't eating nothing, the 1% of the 1% can afford private islands and private militaries to defend them 😂
@@ArthurB26 When the time comes those some militaries getting paid pennies will give them up too, you gone see
I’m glad he said “the customer is rarely right” I ALWAYS say that
You and him are basically twins!!
The actual full quote is, “The customer is always right in matters of taste” anyway, which basically just means the customer is entitled to like what they like, NOT that they have the right to treat anyone like crap.
He's really a sales guy.. I'm not thinking about starting a business but the way he spoke made me want to take up the challenge and start my own..
His advice is actually pretty good. Down to earth and realistic.
Sign of a expert salesman😂
7:33 The answer of this question was so nice. I hope it will raise awareness to new business owners. Respect.
Yes. He doesn't have to admit that either. Props to his honesty.
So weird feeling when you enjoy listening a multi millionaire. It’s refreshing to hear somebody successful and rich who is not a douche bag
Sounds like you're jealous
billionaire*
@@David-ne2wx don't worry, something tells me I'll never feel jealous because of you
@@shininio you're poor, angry, and dumb
I'm pretty confident he's a douchebag, otherwise he wouldn't be as rich as he is.
Duuuude. That guy is a legend. Wish more wealthy people were like that
They are actually. Do you know any wealthy people? They're usually charming AF. You don't get to that level by being a stick in the mud.
I know one and he's cool AF. I'm certain most people that WORKED to get there actually are really nice people. Same can't be said about families that has been doing it for 50+ years (Take a look on people in the medical and oil industry. Scammers and lying pricks most of them)
Non-famous multimillionaires and billionaires are frequently absolutely lovely people. It’s the celebrity ultra-wealthy who give them a bad name.
@@djjazzyjeff1232 it’s their kids you kinda worry about. Those who earned it knows how it came to be.
@@chowsquid 100% facts. You know the saying, "Hard times create Strong men, Strong men create Easy times, Easy times create Weak men, Weak men create Hard times." Couldn't me more accurate, especially when applied here!
What a truly great guy. So much respect for his outlook.
Mark Cuban is the type of billionaire I want to be if I ever make it big. The guy exudes passion, coolness, and wisdom.
lol you're not going to make it big hahahahahhaha
@@craigslist6988you should question your life decisions, stranger. I mean no harm.
@@TKInternational76 🙄 take a long walk off a short pier. I mean no harm though bruuh
You be the best version of yourself ;)
Not a single person in this comment section will ever be a billionaire. I would bet a billion dollars on it!
Three green flags to be a disruptor:
1. An industry has not changed in decades.
2. An industry complicates the business so no one gets in .
3. An industry that seems complicated but simple business.
Wow! Mark has offered some solid business advice. Thank you for Mark! Hopefully, I will be a millionaire in 2028.
PS: His biography is worth reading!!
When you have the means and proper people to do the legal side of the business, you can get into any industry.
@EntrepreneurHomage getting into an industry does not equal disrupting it.
You aren't wrong but I don't know why you said that or where you're going with it
My reasoning is that it's not just about having the means, but also having good legal structure around you. This is a pain point for many, hence people like Mark are exploiting that. @@elijah__
I will become ur solemate by 2028
If you are my soulmate, why not invest the future now? Why wait 4 years? Hahahaha Much love :)@@user-fc6cr2rb2r
I've not heard people talk about being curious for a very very long time. This is why Mark stands out here compare to the rest. Curiosity should lead you learning, knowledge and understanding, which is powerful to be successful for sure. Great stuff.
For a one percenter, He’s very honest I’ll give him that. I like how he’s aware that you have to be lucky to be that rich. Most rich people would lead you to think that all you want to do is chase money but in reality they’re all trying to invest in time. Don’t let the world fool you, your time is more valuable than anything, no matter what!
Mark just shut down 80% of finance/business gurus on YT. 🔥
I seldom come across WIRED. Glad to have watched this.
Thank you WIRED and Mark for this Entertaining + Educational + Inspiring video!
It's been awhile since I watch an entire video on UA-cam. I love listening to him.
TIMESTAMPS
0:16 leave job to start company
0:50 do billionaires create jobs
1:40 best question I've ever been asked
2:36 sports investment vs gamble
2:48 is the customer always right
3:10 great businesses that people don't realize
4:08 what would you change about sports industry
4:19 Crypto
5:22 why do most businesses fail
6:06 NFTs
7:34 what's something you wish you knew before starting a business
7:50 name image likeness
8:33 who's the best shark on shark tank?
9:02 most annoying business buzzword
9:24 explain series ABCD funding & what is venture capital
10:00 common mistake entrepreneurs make
10:24 best habits for success
11:00 CPA vs CAC
12:00 when is it time to call it quits
12:55 did you ever want to give up?
13:50 why is medicine so expensive in America?
Thank you so much ..
I love u ❤
MARK IS AMAZING. “HOW TO CREATE WEALTH”
The first step to creating wealth is figuring out your goaIs and risk toIerance - either on your own or with the heIp of a financiaI coach, and foIIowing through with an inteIIigent pIan, you wiII gain financiaI growth over the years and enjoy the benefits of managing your money.
I am fortunate I made productive decisions that changed my finances (accumuIated over 1MiII in 2years) through my financiaI coach. Bought my 2nd house in January and hoping to retire at 52 by next year
researvh the name, if you care..
REBECCA MARTIN WATSON
l’m amazed to partake on this, lt has rekindled the fire to my goals.
Thank you for still calling it Twitter lol
It's literally not Twitter dummy
Tf else is he supposed to call it??
@@gavinmorris7864X
@@gavinmorris7864X
@@gavinmorris7864X? lmao
I just sent this to my children. I led the country in sales and your answers mirrored the younger me as now I am almost 74. You’re 100% right about sales. I wish I could meet you in person.
Just turning 24, good to see you here on the internet dear sire. Hope you and your family have all been well!
Mark you truly have been inspiring to me for so so long. Even during my most difficult medical hardships in the recent years, I kept coming back to your words of encouragement. Thank you for being YOU.
mark is honest and down to earth love his answers
love this dude. i can relate to his personality so much .
This is one of my favourite wired episodes ever
Mark, you're awesome I really apreciate the no bs content
Love his advice videos. Does this mans have a podcast?
I remember Charles Peralo did an interview livestream with Mark Cuban about a year ago (or two years), and it was funny to me how both talked to each other and put a smile on my face, besides all of the business stuff Mark is a nice guy!
The wisest thought that is in everyone's minds today is to invest in different income flows that do not depend on the government, especially with the current economic crisis around the world. This is still a good time to invest in gold, silver and digital currencies (BTC, ETH.... stock,silver and gold)
After I got upto 900k trading with expert Angela Mae McClain,I bought a new House and I'm now able to send my kids to a better school in the states When someone is straight forward with what he or she is doing people will always speak up for them.
she's always active on Whats'akp
+130
1909
4463
Thanks for the constant sound advice, honesty and compassion.
The best video I've seen this week so far!
So much wise info in just 15 minutes. Thank you for this!
Thanks Mark always for sharing your experience and expertise!
He answered everything I would've asked him in person. Amazing video!
Timely and refreshing!
I love this man, he’s smart and so humble
These are true gems of information and inspiration! Thank you, Mark!
I felt like I was learning how to be a better "salesman" just by listening to this dude talk about his ideas. Cool dude
This was great we need more like this! 🎉
Love this business edition!
That was better than any Marc Cuban interview Ive ever seen. . This format allows people to get more indepth understanding of what you really want to know; how and why people think! Brilliant.
I have really come to appreciate Cuban. He seems like he has a high degree of self-awareness.
Ty for the video Wired and Mark Cuban 🥳
That was honestly one of the best entrepreneur videos i've seen to date, straight to the point and packed with knowledge.
Mark I always liked and respected you and even more so now. Truly. You deserve everything you got and then some.
Thanks for keeping it real Mark! Just because you know multi-syllabic words doesn't mean you need to use them. Just because you can devise a complex business model doesn't mean you need to do so. The average person reads on a fifth grade reading level (the Flesch-Kincaid level is used to be sure public/business/advertising documents are geared to that level). So it makes more sense communicate in a way that most people will grasp. Same with the business model - keep it simple with few potential gaps. Loved how Mark described the pharmaceutical industry - why and how did it become so freaken complicated?
I love how this video is so educational in the simplest terms
The hardest thing I ever had to learn was that there are bad customers. Getting rid of bad customers really got rid of a lot of problems that were being caused by only a couple of customers.
I lika do the cha cha
You can’t hate on the man
@@Pooki2024 No hate, just pointing out that luck is the most important factor.
That’s exactly what he states in the video.
@@viniciusfontes8147 Awesome!
He literally says this in the video bro lmao
Thanks wired. Huge value given with the pace, diversity, and number of questions answered. 🙌🏾
Thank you for sharing this insightful video ❤️❤️❤️
If I could give this 1,000 thumbs up I would. He get a bonus 100 for how emphatically he proclaims "one of the most patriotic things that you can do when you're wealthy is pay your motherf***ing taxes." Love this guy!
Yep! Those missiles aren't gonna buy themselves, gotta keep that war machine funded baby!
This was a great video. Mark is a great guy sharing so much. Love him
Thank you Mark for your time and sharing!
love this dude, than you for the great advice.
Question 1: What have I always wanted to ask someone like Mark. Thank you for posting and answering. Appreciate that.
THIS IS THE BEST WIRED INTERVIEW EVER
Thanks Mark, you are just amazing, down to earth, keep things simple, realistic and motivating at the same time.
Great advice! Thank you!!
Does it get any more American than this man?
I saw this post on FB the other day. The interviewer asked, "If you could have dinner with someone, who would it be?"
Of course the interviewees all said their celebrity crushers, Taylor swift, etc.
I'm a straight guy and I'd choose to have dinner with the legendary Mark Cuban.
I will gain MORE knowledge on that one dinner with Mark than I've ever learned over the past 28 years of my existence.
I wish to meet this guy even just once in my life. It'll be totally worth every minute.
Hang out with billionaires and you'll learn how to make money
best interview I've ever seen.
Mark is my spirit animal. I needed to hear this! ❤
MARK CUBAN THANK YOU FOR DOING WHAT U DO
I love how brutally honest he is. Very transparent. He annoys me on shark tank and he’s my least favorite shark but I can see why he’s so picky. He’s a brilliant man who gets straight to the point.
Thank you for this video. 🎉
Is man is so humble. I love him
good talk. it's frustrating knowing you have a solution that reduces 🦈 accidents and you still have to figure out a way to market it, you would think people being eaten would be enough, but it's the people creating the issue that you got to convince to care about others. although holding people accountable for their actions may be a start.😲
He's such a cool guy. Keep it real Mark!
I enjoyed this a lot more than I thought I would. Great vid.
He is amazing.
The question in the thumbnail is asked at 01:34.
Idk how right I am but he has always been fair with his offers in the show and is always down to earth and kind in the interviews. Really like the guy 👍
I like his honesty about luck and overall. He has principles and values.
7:00 "DON'T SPECUL...mleahhh"
Wiser words have never been spoken...
Wow the excitement of this guy at the $500 question shocked me. I think this is really at the heart of many successful people - it’s not (just)about the ego but they are super passionate and genuinely excited about what they do and acquiring mastery in it. It’s like how Gordon Ramsay got literally giddy when he was providing solutions to the twitter questions. For him it’s cooking, for this guy it’s making money. He looks like he’s more excited about making money, like a fun challenge to solve, than having money. That’s kind of cool.
I agree with pretty much everything he said except for NFT's. There are industries that boom after a period of stagnation and there are industries that just die because they are not that useful for the average consumer. I think the NFT industry is one of those. When you buy an NFT you're technically not even buying the rights to a certain image as he made it sound, but a link.
well... that's not true... please look up on-chain... you are also limiting the application of NFT to art..
NFTs have the potential to be sooo much more than images. I'm no fan of NFTs in their current form, but Cuban is right about their potential.
I thought he made a good point about using them as a means to validate tickets. I'm curious about how that could be used to cut out scalpers, but I see the potential.
@@LucMMailloux
I think he's probably right about the future of NFT being in things like ticket but the idea that you should buy NFTs because you love NFTs is laughable. No matter what you love in terms of collectibles buying the physical version is a better investment and more enjoyable
Ordinals are NFTs stored directly on the blockchain
Excellent! Thks Mr. Cuban!
Fun concise and helpful. Thanks Mark!
The full quote is "The customer is always right, in matters of taste"
I love Mark Cuban sm, absolute giga chad and an inspiration
I appreciate the advice, some won't tell how it is done. Also, he is keeping it real with what he is talking about.
Thank you for having this guest.
Love it. It was a 15 minutes MBA.
Where’s my certificate prof. Cuban?
I love Mark Cuban. Literally the only billionaire I respect. "The most patriotic thing you can do is pay your motherfucking taxes". Love that, and totally agree. People are so cynical about paying taxes now it makes no sense to me. They cheer on billionaires who find loopholes and pay less in taxes than them. We need less billionaires, all they are are money hoarders. Can't spend all that money even if they tried.
Even if billionaires paid more taxes, would it really benefit you? Taxes go to the government, but do they have your best interest? Tax "loopholes" exist intentionally for anyone to use. Why not take advantage of what's legally available? But different countries have different laws, so be careful. This is just my perspective tho.
I would staunchly disagree. America was founded LITERALLY by people who were pissed off about how much taxes they paid. Paying Taxes couldn't be more antithetical to what this country is. But philosophy aside, you can't just hike up the tax rate TOO aggressively, you'll collect ZERO because they'll just move to Puerto Rico. And they're the exact demo who has the capability to do something like that.
Billionaires don't hoard money. They invest it or spend it or save it in a bank that then invests it. Billionaires also don't have billions of dollars stockpiled, they have a net worth of billions meaning they would only have billions of dollars if they sold all of their companies, investments, and assets.
you literally just explained how they hoard money while saying they don't hoard money. If youd like to substitute the word "money" with "assets" then that doesn't really change my argument, does it?@@daviddavis5800
@@daviddavis5800 Not "a" bank, dozens, if not hundreds of banks!
Love this guy.
love it.. thanks wired and Mark
Literally want to start my own business just so I can spend time with my family, not feel so freaking burnt out everyday, I have a small thing on ebay and even though it doesn't make a ton I LOVE doing it.
I love that! Keep it up! You never know what it could turn into to. Especially with passion behind it. :)
Starting your own business means you will have less time and more burnt out if you want to make it big.
Listen to Mark's response 5:47 You can't have both time with the family and a successful business in the early stages. That comes much further down the line AFTER you hustle!
Sell crack cocaine
If your digital good is only valuable when recognized by a central authority (literally what tickets are for), you don't need decentralized NFTs. You can just do it with normal web sites and apps. Steam marketplace figured this out in like 2012. Neopets did it in like 1999 lol
I mean you’re right but that doesn’t mean there’s no value to NFTs. One of their potential benefits is interoperability.
If you’re Ticketmaster, you’re not going to use NFTs; you’re going to have your own proprietary system. But you’re also a monopoly and you’re a middleman. If you’re the actual ticket issuer, and you’re big enough (like a major sports league), you’re probably going to have your own proprietary system because the ecosystem can be big enough and popular enough to survive.
But there’s a limit to how many different apps and systems and whatnot people are willing to use. And outside of a few major organizations like sports leagues etc., you’re not going to have hundreds or thousands of different in-house systems. Most people will use a third party, like Ticketmaster.
That’s where NFTs potentially offer better value. Assuming they’re ultimately built on the same blockchain or protocol or whatever, there would be such a lower barrier to entry. Companies with some IT know how issuing tickets could maybe do it in house to issue the original tickets (and buyers could resell on different marketplaces) or they could use third parties to help with creating and issuing tickets but have lots of options to choose because all can ultimately sell the tickets in the different marketplaces.
So I think NFT tickets allow for ecosystems with more players, fewer barriers to entry, and less money to be made by middlemen that create and control an ecosystem that they can shut companies out of, if they don’t pay more and more or follow their top down rules.
@@brendancurtin679 But those crypto marketplaces are third party middlemen, as are the crypto wallet apps and exchanges. All of them have their own transaction costs, security risks, customer support, app UX, legal jurisdictions, etc.
You're almost certainly gonna have less overhead if you just pick a single digital wallet/trading provider and integrate that into your customer support, app, legal, IT, etc. Crypto doesn't need to be involved to accomplish any of that.
If you really want to prioritize decentralized transactions between untrusted entities, you can make the tradeoff I guess. But I don't think a typical ticketing venue actually gets good cost-benefit out of it.
@@brendancurtin679 There is no value to NFT's and tickets are bad use case.
Thank you. This was great!
Dude, the first question you answered, was probably the most valuable one in this video.
Love his take on Venture Capitalists. Fcking hit it right dead center.
Lol didnt he describe EXACTLY what he does on Shark Tank?
@@gnatsson1629 not really. If you look at Scrub Daddy right after the deal was made at Shark tank, Lauren was very hands on with the Creator on everything making sure the wave of interest didn't wane. Also if you actually search up certain shark tank deals, some of them didn't come through with the deals, because of certain backdoor info. Some of these deals yes they want capital and name only, but others actually want expertise, it's a varied bunch of individuals that look for the sharks.
@@gnatsson1629 No. He only makes offers to businesses he thinks he can add value to and help. If you ever watch the show, there's been many times where he immediately says he out because he doesn't know the industry the product is for or doesn't think he can help. Sometimes he'll go to bat for another shark as well if he really thinks their industry knowledge is a fit.
A venture capitalist in general is not like that. They just want to make their money back, regardless of what that actually means for the business.
Mark Cuban is one of the few billionaires who actually gets it - anytime he speaks, I listen.
This was great. Thanks.
Yup, great advice. Helps me know that I don't feel cut out for running a business beyond where I am now, being a store manager for a larger company.
"The most valuable asset to me wasn't the money, it was the time that money could buy."