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Mark Cuban: Only Morons Start a Business on a Loan

Mark Cuban: Only Morons Start a Business on a Loan

Mark Cuban: Only Morons Start a Business on a Loanhow do I describe you I was saying you know entrepreneur Dalek Mandelas Mavericks owner shark tank star you do it on mark I dont know about that but entrepreneur that one you know you and I were talking earlier today on one of the panels you made some really fascinating points about innovation right now in this country and and all that needs to be done to encourage it to encourage small businesses what do you think overall is the most important thing for new entrepreneurs right now just to go after it I mean the thing about being an entrepreneur is this its just all to you you know a lot of people like to make excuses I dont have connections I dont have money I dont have this but you know if you find something that you like to do or love to do be great at it and see if you can turn it into a business and worst case youre gonna have fun doing what it is you love to do in best case you can turn it into a business I just dont pick on excuses I just think if you really everybody has that opportunity to go for it they just got to do it well you know long as its a its hard to get along right now for a small business owner youre ing to come over youre trying to come up with an idea how do you get the capital to that bit first of all if youre ing a business and you take out a loan jerem right because youre theres so many uncertainties involved with ing a business yet the one certainty that you will have to have is paying back your loan and the bank doesnt care about your business or whoever you borrow from unless its family doesnt care about your business you know and so its just a complete conflict so to whatever whats the small business that entrepreneur of small businesses you can with next to no capital its more about effort you know small businesses dont fail for lack of capital they fail for lack of brains they fail for lack of effort most people just arent willing to put in the time to work smart I mean they they they go for it in a lot of cases but they just dont recognize how much works involved and and if you do the preparation if you know if you a business you better know your your industry and your company better than anyone in the whole wide world because youre competing and to think that whoever it is youre competing with is just gonna let you come in and take their business obviously thats naive and I think most people dont recognize that if youre going to compete with me and one of my businesses you better realize that Im working hours a day to kick your ass you know a lot of companies right now are holding on to their money theyre holding on to cash maybe theyre doing some share buyback but in general theyre not putting their capital to work right now how and when did that to change I mean its a reflection of a lot of different things if if theyre buying back shares it means they dont see anything in their own businesses that they can invest in and if they dont see anything in their own businesses that they can invest in then it doesnt matter if theyre bringing back capital from elsewhere and it doesnt matter that they can talk all they want about jobs but theres no good reason you know to hire people because they dont have places to put capital to work and I think thats also a reflection of the focus on Wall Street you know most of times when we talk about putting capillary to use we talk about public companies you dont really see this as an issue in private companies but with public companies they get such a concern with shareholder value and shareholder returns that they lose sight of trying to move the ball and to innovate and to invest in RD and I think thats hurt our economy and I think that hurts the company in the long term what does it mean for growth you think were gonna be in this percent environment for a while yeah and but Im not I dont look at that and say see theres something wrong were not doing something right I look at that and say thats the new normal that you know when companies have their backs against well particularly small to medium where theres a big part of the growth for jobs we find new ways to innovate were innovators in this country we dont just sit back and say the only way we can solve problems is by hiring people we go out there and you hire smarter kids you hire smarter people to write software to put things in the cloud to find new solutions and so were turning into an economy that is bifurcated theres those people who write and control and define the software and then theres those people who work for the software someone whos gone out and ed a lot of businesses including your own network CBS has just purchased a minority stake in your network what what do you think what is their intention to do with that do you think theres a chance they might buy out the whole thing who knows um but I think theyre recognizing that you know the reason we took a network HDNet which was the first all high definition TV that grew it and then two years ago I recognized that being HD obviously is not enough and so I said out there in the media landscape what opportunities are there what what creates a unique scenario that would be good for a network and if you look at whats happening with social media in particular realtime social media is very obvious and you guys know as well as anybody realtime social media drives realtime viewing on TV and live events on TV Drive social media its a very symbiotic relationship and so with excess TV we had been doing live events as HDNet and we just amplified that so in you know from concerts all over the globe to the live interview shows to live you know fights whatever type of event that we can do live we want to do it what people will tune in for live is what differentiates television from the internet you know the internet was designed for everything but video and television is designed specifically for to deliver video and thats a huge difference the Internets I mean when you think about content now being so much ondemand live obviously different because you have to tune in specifically for an event right but you know wouldnt Gangnam style video right billion people watch it you couldnt find any two people who watched it and talked about it at the same time its just completely different by the time you watch it on YouTube youve already missed it you know youve missed the conversation YouTubes not about conversation on demands not about conversation its about catching up its about killing time and vegetating watching the show all day long whereas watching this live hopefully theres people online talking about how Cubans an idiot or Cuban smart whatever Trish knows our stuff or you know whatever it may be but thats a thats you know a holistic conversation that happens in real time that drives that creates a unique experience '

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