Mark Cuban on Giving MrBeast $1,000,000, Elon Musk Ruining Twitter, Rejecting Jake Paul: 396

Added: Oct 26, 2023

The conversation begins with Mark talking about how people often ask him for money and how he handles those requests. He mentions that he is open to helping people, especially those close to him, but he also recognizes that some people just want to take advantage of his wealth.

The hosts then bring up the topic of social media and its impact on society. They discuss the negativity and hate that can be found on platforms like Twitter and how it has changed over the years. Mark shares his thoughts on the algorithmic nature of Twitter and how it amplifies certain voices and content. He suggests that Elon Musk, who has a large following on Twitter, could make a difference by removing himself from the algorithm.

The conversation then shifts to basketball, with the hosts asking Mark about the current state of the NBA. Mark talks about the level of talent in the league and how it has improved over the years. He mentions that even the worst teams now would have been playoff teams a decade ago. He also discusses the different playing styles of players like Michael Jordan, LeBron James, and Luca Doncic, and how they each bring something unique to the game.

The hosts bring up the recent signing of Kyrie Irving by the Dallas Mavericks and ask Mark about his thoughts on the player. Mark describes Kyrie as a polarizing figure who is known for his deep conversations and controversial statements. He acknowledges that Kyrie is a skilled player and believes that he will be a valuable addition to the team.

The conversation then touches on the topic of authenticity and how social media has changed the way people perceive artists and athletes. Mark shares his own experience of being authentic and not trying to change people's minds. He believes that being true to oneself is important and that people will appreciate authenticity.

Cuban continues by talking about his decision to give MrBeast $1,000,000. He explains that he was impressed by MrBeast's philanthropic efforts and wanted to support his mission of making a positive impact on the world. Cuban believes in the power of giving back and sees it as a way to create a ripple effect of positivity.

The conversation then shifts to Elon Musk and his influence on Twitter. Cuban expresses his admiration for Musk and his ability to challenge the status quo. He believes that Musk's presence on Twitter has brought a new level of excitement and engagement to the platform. However, Cuban also acknowledges that there are times when he avoids certain conversations on social media to avoid getting pulled into unnecessary conflicts.

Cuban shares an interesting anecdote about responding to his brother's email. His brother had sent him an email about an app idea called Locker Room, which was meant to create separate social media spaces for boys and girls. Cuban responded to the email and gave his honest feedback, stating that it was a good idea but not a great one. Surprisingly, his brother printed out the email and hung it on the wall for inspiration.

The conversation then delves into the topic of luck and success. Cuban believes that luck plays a role in success, but it's also important to seize opportunities and take risks. He shares an example of investing in a company called Relativity Space, which is working on 3D printed rockets. Cuban invested in the company without ever meeting the founders, and the company has since achieved significant success.

The discussion then turns to Cuban's experience on Shark Tank. He clarifies that he is not net negative on the show, as some reports have suggested. While he may be down on a cash basis, his investments have performed well on a market-to-market basis. Cuban also emphasizes the importance of focusing on the product first and not getting caught up in personal stories or backstories.

The conversation takes an interesting turn when Cuban discovers an email from Jake Paul that his brother had sent 10 years ago. The email was about an app idea called Locker Room, which Cuban had responded to at the time. They reminisce about the email and discuss the potential of the app in today's context.

Cuban then shares his thoughts on breaking through the noise on social media. He advises people to get right to the point and avoid lengthy backstories. He also emphasizes the importance of having a strong product or idea that stands out. Cuban shares his experience with investing in companies based on their potential and not necessarily meeting the founders in person.

The conversation continues with a discussion about Cuban's venture, Cost Plus Drugs. He explains that the company aims to bring transparency to the pharmaceutical industry by showing customers the exact cost of drugs and marking them up by only 15%. Cuban believes that the healthcare system in the United States is broken and wants to make a positive impact by providing affordable medication options.

The conversation continues with a discussion about socialism and capitalism. Cuban explains that in a socialist country with a dictator in charge, there is no freedom and individuals can be jailed for going against the government's wishes. In a capitalist system, on the other hand, individuals have the freedom to pursue their own interests and make a profit. While Cuban acknowledges that capitalism can sometimes lead people to prioritize profit over good intentions, he believes that the worst-case scenario in a capitalist system is still preferable to the lack of freedom in a socialist country.

The conversation then shifts to the future of AI. Cuban emphasizes the importance of understanding AI and its potential impact on various industries. He explains that there are two types of AI: chat GPT, which emulates question and answer chatbot interactions, and machine learning neural networks, which can be used for business applications such as computer vision and data analysis. Cuban believes that AI will continue to advance and become increasingly integrated into various industries.

The hosts then ask Cuban for his advice on which sectors or industries are poised for success in the future. Cuban highlights the importance of understanding AI and its applications. He believes that companies that excel in AI will have a significant advantage over their competitors. Additionally, he mentions the potential for AI to be used in physical robotics, such as Amazon's robots that use computer vision to navigate and perform tasks.

The conversation then turns to the education system. Cuban expresses his concerns about the rising cost of college education and the burden of student loans. He advises young people to consider attending community college for their introductory classes before transferring to a more affordable university. He also believes that the college business model is unsustainable and predicts that some colleges may face financial difficulties in the future.

The hosts also discuss the impact of social media on society. Cuban acknowledges that social media can be a platform for misinformation and propaganda. He expresses concern about the negative effects of social media on mental health and the spread of false information. He advises young people to be critical consumers of social media and to seek out reliable sources of news and information.

Towards the end of the podcast, the conversation touches on the current conflict between Israel and Hamas. Cuban praises President Biden for his handling of the situation, recognizing the need to support Israel against terrorism while also acknowledging the plight of the Palestinian people in Gaza.

The podcast concludes with a positive note, with Cuban expressing his optimism for the future. He encourages young people to embrace learning and adaptability, as these skills will be crucial in a rapidly changing world.