Every billionaire is lucky | Mark Cuban and Lex Fridman
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- Опубліковано 30 бер 2024
- Lex Fridman Podcast full episode: • Mark Cuban: Shark Tank...
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Mark Cuban is a businessman, investor, star of TV series Shark Tank, long-time principal owner of Dallas Mavericks, and founder of Cost Plus Drugs.
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Full podcast episode: ua-cam.com/video/0cn3VBjfN8g/v-deo.html
Lex Fridman podcast channel: ua-cam.com/users/lexfridman
Guest bio: Mark Cuban is a businessman, investor, star of TV series Shark Tank, long-time principal owner of Dallas Mavericks, and founder of Cost Plus Drugs.
Jack Dorsey famously said about becoming a billionaire, "I was smart enough to know that i was getting lucky"
Good one
Timing and meeting the right people. My dad is a very educated man, has 2 degrees yet was broke his entire life. His younger brother left school at 16, just wandered around in life. At 45 he joined some friends in a business startup. Just the right place at the right time. By 50 he was a millionaire.
No you need to have a money making strategy. You can easily work hard on something that doesn't make you money.
@@Unmighty1 No, you actually don't. All you have to do is be in the right place at the right time, with just a little piece to add, to be connected with the person or people with not just a money making strategy, but who actually see the plan through AND everything goes right. It's a huge measure of luck and timing for things to line up properly with the skill set.
Outliers by Malcolm Gladwell is great book on this very thing it goes into great detail about how luck plays a huge role in a lot of successes in life. Another billionaire that shares Mark's view on this is Howard Marks (Oaktree Capital Management). Buffet has also said something similar. Admitting to being lucky in life doesn't automatically negate individual work ethic.
Malcom gladwell is a shill. The fact that you admitted listening to gladwell just shows you should never be taken seriously.
@@Ganderbin a little harsh to a book recommendation, but yeah Malcolm Gladwell is a shill lol
Or you could critique the ideas/evidence in his book outliers. Have you read it? I know some people criticise other people without knowing their work.
perfect timing
Cuban is hilarious! "Zuck was trying to get laid" as the impetus to creating facebook!
Yeah the facebook one was weird cause everyone just switched to a shittier product than myspace
At the time Facebook was exclusive. Everybody wanted to get in the VIP section. FB was at the Ivy Leagues then moved to all colleges, then high schools and finally regions. I think that anticipation of being on FB got it to where it is today vs other apps/websites that were all inclusive weren’t put on a pedestal.
He shows a lot of humility. This is a sign of intelligence.
I'm sure Elon knows these truths as well. But in public it is more fun to pretend to be Tony Stark.
Life is a unpredictable. All you can do is measure your effort but just remember that there are many geniuses and potential billionaires that go unknown because of economic depression, war, serious illness or disability etc.
Life is not a perfect meritocracy. That shouldn't stop you from grinding. Understanding that the game of life is not fair doesn't mean you shouldn't play to win.
He is Tony stark the character was based off him .
I think Elon’s case is particularly different. He made Billions not from software where luck is a prime factor but by building EVs and spaceships.
I think in Elon’s case the luck is not as significant as with other entrepreneurs
@@da7me22 not only that. he created and operated multiple billion dollar companies. luck is doing it once...
@@da7me22The way you guys glaze Elon is absolutely insane do you get wet thinking about him?
@@dopemusic6414 there is no harm in stating facts
Long hours, intuition, luck
good clip
This guy is great
MySpace is still 1000000x better than any social media platform today. RIP to the King
Long live Tom!
I know, right? Some will never know 😢
bebo
Yeah it actually taught you how to build something.
Where dat shi now
I looked up recently that only 0.000001% of the human race is a household name. Yet we constantly refer to these people as examples in every comparison. These people are not that much better than us. It's almost all luck, especially when you consider how much genetics factors in to one's success.
Well it depends how much you delve down to it. I mean yeah you could say everyone is lucky to do whatever they do in life because they have the dna and upbringing to make themselves the person they are and do what they do.
Like i always say.... You cant discount circumstance
Subsidies?
Luck is the number one common trait among successful people. That's science.
Luck is the spark that you seize, but if you don’t have your foundations intact (discipline, knowledge, passion) then that spark will just be a spark.
He makes a good point about zuck being at Harvard vs being at Miami of ohio
Luck is a vital componet to success, but is often overlooked with the myth of meritocracy. Just being born into the right area code and having the opportunity to attend the right schools and form or having access to networks of capital is basically 50% or more of the battle. The other components is timing and product.
He's right. You have to have luck. And you have to have it at the right time. Of course you must be prepared with the right idea, and work ethic, and determination to meet that luck when it comes along. And to ride the wave. But, without luck, you could just file under 'great ideas that never took off'...and the entrepreneur now works for a finance company in Ohio.
You can do as you will. But you can't will as you will.
The harder you work the lucker you get!!!
Statistically some people are going to have more good things happen than bad, some will have loads of good things and hardly any bad, and a few will have all good things, and the reverse is true too, some people have awful lives through no fault of their own, that's not to say there's no hard work involved in becoming super successful, but for every billionaire there's a million people who did the same things but just never managed to be in the right place at the right time
Lex Fridman-Banks could’ve been a crypto billionaire.
Just another way of saying the old adage success is where opportunity meets hard work
💯
📍3:04
Obviously there's a bit of luck in everything, but I think Mark's logic here is flawed. He's describing events as if there was no decision making on the side of the founders. It would be like if you looked at an NBA player and said "yeah he practiced a lot but he was lucky to be so tall". It's bad logic - the NBA player knew he was tall, that's why he practiced so much. If that NBA player wasn't tall, he wouldn't have practiced basketball, maybe instead he plays baseball or becomes an entrepreneur. The point is the person is making a decision based on what they see. If you know your business requires lots of money to be raised, you'd only start the business if you see that raising a lot of money is possible, etc.
Good point
Blame our parents and our grandparents and their parents that you are not rich.
😂😂
You mean being born in the city where the computer was invented (Palo Alto) was lucky!
Everything is luck. The only things having ever affected any of us, genetics and surroundings, are out of our own control. Everything that has ever happened has been by luck.
Everyone has good luck and bad luck. The people that succeed are the ones that have the skill and tenacity to overcome times when their luck is bad. Luck may get your foot in the door, but it doesn’t keep you there. Skill does.
Well said 🙏🔥
You forgot money. Times are hard, plenty loose their business, shelter, transportation. That all takes a nest egg, a large nest egg to get through. Yes, you can work more, but PLENTY of people can't even get 1 job, let alone another.
No, not always. There are plenty of people who've effed up a lot and still remained wealthy.
@@lightforce4604Like I said. Because they have skill.
@@user-uo9cy2ep2hIf you keep trying you maximize your chances to eventually have good luck. Luck is not the main source of anything. I’d rather have skill than luck.
Luck is a lot. I think people underestimate it. Look at ALL the wealthy people in human history, LUCKILY, born to those couples. The Wallens, Rockafellers, Morgans, Duponts, etc. There is ABSOLUTELY no other explanation. Its only luck. Same goes for business and success. Millions do exactly what their successful peers do, but the difference is ABSOLUTELY luck. The luck, that everything worked. It only takes literally 1 second for EVERYTHING to go wrong, beyond anyones capable control. Fact
Hundreds of thousands of people get lucky in the lottery. Yet the vast majority of these lucky people lose or waste all their money. Takes more than luck. Much more. You probably need to fit 10-12 other parameters before you even get the chance to be that lucky
@@giovalladares1022You really didn’t make a good point you kind of reenforced the luck parameter. What lottery winners do after is irrelevant the fact they won in the first place was pure luck hence the luck factor.
Yeah the only reason you are a loser is bad luck, right?
Lottery argument absolutely demolishes luck argument because those people couldn't hold onto that money for one generation while these billionaire families have now become progressively richer for hundreds of years in a row
Luck is a small factor, or maybe not even a factor at all
@@goochipoochie So people simply born into those families aren’t lucky? 😂 ok. It’s the exact same thing as hitting the lottery except you didn’t even have to play you were simply popped out into generational wealth you never lifted a finger for.
The harder and smarter you work...luckyer you get....KARMA!!!
Is this comment showing up?
No 😂
luck is factor but it is not only factor ,you need strength and smart enough to overcome bad luck ..., you will be alive tommorrow is also luck because someone going to die tommorrow
That’s were everything goes wrong from here for a society ,”he or she just lucky, and I am a victim of life, therefore let me take something from me because they were lucky and I am entitled to what they have, just luck anyway.” I see in now different young people in religious organizations even work places, when they act like that, the whole places go down with it…watch out when they say just lucky (seriously lost all respect to mark, I used to look up to him)
Two things can be true at the same time. We can argue against heavy redistributionist tax systems that overly tax certain socioeconomic classes while still admitting the reality that many of those who are at the higher end of those classes arrived there due to forces beyond their control.
You really don't even need to hyper focus on billionaires to reach the same conclusion Mark has. Unless you're willing to say that hard work carries a direct positive correlation with wealth, and that those who have the most amount of wealth in our society are by definition the hardest working, then you have to believe that luck at the very least plays a significant role.
Does anyone seriously believe that the Kardashian sisters, with a collective net worth north of $2 billion, are harder working than every truck driver, police officer, and construction worker in this country, who don't even have a modicum amount of that money to their name? No, they're not. They were, however, lucky to have been born with their last name.
He's the exact opposite of that though. He's not a has not who's envious of others, but a rich man that's showing some humility. Humility is a virtue, is it not?
First for luck
Luck is the inverse of victimhood
by marks case, then anyone successful is lucky. thats like saying michael jordan was just lucky bc he was american, born in a basketball family and tall. but not everyone with that similar situation, tall and american, makes the nba.
He isn't saying they are ONLY lucky, but that luck is a requirement...along with all the other attributes that contributed to their ultimate success.
@@taarg22209 yeah, its kind of a lame point. yeah everyones lucky. not everyones born in antarctica.
bullshit