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now Mark Cuban Answers Business Questions From Twitter | Tech Support | WIRED

 now Mark Cuban Answers Business Questions From Twitter | Tech Support | WIRED


hey Im Mark Cuban and today were going to be talking about mogul support pocho silver weather business or sports when building your team are you more interested in getting someone who is an expert or something or would you rather have something with more potential question of the day Olivier I want an expert everybodys got potential everybody I want someone who knows something give me someone who knows theres every time because then I can turn it into something real the key to being successful in achieving your dreams no matter 
what they are its finding something you really really like to do and being great at it 
when youre great at something you get to write your own ticket so Im always gonna hire the expert if you just have potential chances are youre working for the expert thanks Olivier charissa Sechrist I have to do an elevator pitch for a business proposal Ive never done this whats your advice Carissa get on an elevator pitch alie the great so I pay off the house or save cash and an accuser the real answer is depends on what your mortgage rate is if your mortgage rate is over five six percent what you should do is refinance if you have enough cash to just pay off the entire mortgage thats great but in this particular case you probably want to talk to an accountant because depending on what state you live in theres all kinds of different laws and rules for deductions and so it can kind of get complicated and as much as Id like to give you advice talk to your accountants the best advice Robert Reid ii as a hashtag entrepreneur you get to be your own boss how do you manage your time between work and home so how do I manage my worklife balance now its easy Im rich I do whatever I want if I want to play with my kids I play with my kids if I travel I jump on my plane it really depends on where you are in your life when I was first getting ed I was living six guys in a 3bedroom apartment and so I had no work at home valence I was working at night as a bartender and all I did was work I went seven years without a vacation dude thats what its going to take thats home life balance trip though doom if youre really into providing the opportunity for people to grow their network
 why they hate for crypto I CEO is the new IPO heres the thing about crypto particularly Bitcoin bitcoin is worth 

what somebody will pay for it do you ever see someone

 who collected baseball cards and they were really really really proud of their baseball cards because they kept on saying they were going to go up in price comic books the same thing even artwork theres no real intrinsic value you cant eat a baseball card or shouldnt need a baseball card your artwork might look good on the wall but not much you can do with it Bitcoin theres even less you can do with it at least I can look at my baseball card and go oh thats my favorite player thats Roberto Clemente I can look at art working on crypto is a key that is so complicated for of the population do you put it in a device do you print it out how do you keep from being hacked whos gonna host it for you its just so difficult that its only worth what somebody will pay for it so I say its like gold go to religion now people who are really into gold theyll tell you that theres a bad depression and things go to hell in a handbasket if you own gold and youll be okay no you wont you carry around a gold bar so I was gonna hit your ass knock you out and steal your gold bar and its gonna happen again and again and again Id rather have bananas I can eat bananas crypto not so much look I can make a great argument for blockchain theres a lot of applications and theyll be used but you dont need public Bitcoin BTC you can create blockchain on your own without using all the available cryptocurrencies its not that Im against crypto currencies you just have to be very careful at best their store value thanks coins or die emcee sound studio what makes a good business partner a good business partner with somebody who makes me money at the SNC kpax the robots by the hour WTF question mark so that tweet wasnt replied to this one you are getting the short end with tariffs if we as the country invest in robotics we can build factories anywhere including our own thats how you replace cheap global labor Id rather pay you to monitor and fix robots and tax the robots by the hour thats how you win so it just so happens I have a company called higher robotics and what does higher robotics do they have robots that they put on factory floors how do they charge the manufacturer to put those robots on the floor they charge them by the hour and they charge them effectively 
what a traditional labourer would cost except they work hours a day they dont have to go to the bathroom they dont eat they dont call in sick but the real con of this tweet was how are we going to compete with China Vietnam and other countries who are manufacturing things that have moved from the United States to those countries and move jobs with them so if as part of our infrastructure spending with publicprivate partnerships we invest in robotics well be able to bring jobs back here and replace the factories that are in Asian countries in particular with factories here that will allow us particularly if we tax them by the hour to be able to support social programs that we may not be able to afford based off 
what our politicians are saying its okay to tax a robot by the hour because that money may come in and depending on who wins the election it may pay for health care may pay for singlepayer it may pay for ubi it may pay for a lot of different things but Id much rather tax a robot whos pulling in factory jobs from overseas than any other option that I can see out there at Larsen Jay tell me again why theres no ABC shark tank for nonprofits were also businesses that need investment for growth impact with a return thats priceless invest in what you value Im going to tell you why we dont have shark tank for nonprofits or for kids it seems so sweet and so nice but the minute we say no to a nonprofit we are their worst human beings on the planet we cant do nonprofits we cant do kids because we cant say yes to everybody and so its just better that we dont do it at all from Chris winners wince neither Im CUBAN when you look for leadership in your organization
 whats the biggest success factor any specific advice for engineering leadership well I look for leadership I look for a few things one its somebody 
who can relate to people someone who can define a vision someone who is nice and someone who recognizes that it truly comes down to helping people achieve their personal goals and aligning those with the goals of the organization if you can take the goals of your organization 
whether its your company or somebody you work for and align them with the interests of the people that work for you youll be a great leader and you also have to recognize in this day and age people arent looking for lifetime jobs at a company they want jobs that will help them improve their own skillset so they can find a better place in life that they enjoy and if you help people realize their personal goals like that great things will happen for you as a leader Sade Wagner right
 where is the first place to look to find a business mentor how do you know if you can trust them Im not a big mentor guy Ive always been a believer that if you really want to learn something and be great at something you have to put in the time a lot of people look for mentors as shortcuts
 when in reality maybe they helped you a little bit maybe they helped you avoid some mistakes but when youre just getting ed out in particular its okay to make those mistakes and more importantly you have to make the commitment to put in the time to learn what you need to learn to be created something youre good at what you want to be good at Stewart plan being able to trust an organizations brand people and products are all key components of business success question mark so if your customer service how do you gain and retain your customer stress have you ever been a customer you treat other people like you wanted to be treated as a customer its really really really simple you know you gain and retain a customers trust by helping them achieve their goals if youre in a business that is a service business make their life easier no one wants to go to a store and have to work at buying something the most valuable assets everybody has its time the one thing you cannot buy is time the one thing you cannot get back is time if you make someones life easier your customers lives easier if you help them save time you will develop a great relationship with them and you will your trust hi you win how do I a business from scratch with no money no credit and no expert friends to help you dont from cryptic that crypto unlocked at M Cuban hey Mark I have a question I think many people would like to hear your answer with all the talks of the recession coming 
what do you think will help someone go into it for the first time for example Millennials mq it just so happens I answered that tweet and I have it right here number one refinance your student loan and any other debt you have the reality is right now interest rates are at an alltime low so its a perfect time to go out there and refinance your debt to save as much as you possibly can even if it means continuing to live like a student the greatest opportunities come 
when you are one of the few people with cash number three understand the economics of the company you work for it and the impact a slowdown would have on your job if you work for a company and theres a recession coming and you understand your role within that company you can anticipate whether or not a slowdown in business is going to impact your job for better or worse number four live as much like you can as a student because the ultimate rule is to lower your bills to lower your stress number five dont listen to any experts about 
whether or not a recession is coming or not nobody knows theyre all guessing and I guess because it helps them get on TV or get interviewed probably on a podcast coz all economists love to podcast number five a because theres always a five eight we live in a global economy whether we like it or not the butterfly effect applies we dont know 
what combination our big or little things will make things better or make things worse factory could close in Vietnam that impacts something else and that impacts the global economy you just dont know number six do all you can to be great at your job but you have to be honest with yourself employees with no selfawareness are always the first ones to get fired number seven be someone who reduces the stress of people around you its always the people
 who think theyre irreplaceable 
who caused the most stress for everybody because they create this hurricane of hellishness right reduce the stress of people around you be honest with yourself about whether youre a stress creator or a stress reducer because in my experiences Ill always fire someone who creates stress and Ill always look to keep people and give raises to people who reduce stress from Jordan snow uga Scotch do you believe all jobs should pay a living wage are not some jobs supposed to be steps towards careers a great deal of wages are based on how easily replaceable people are ie the positive training employees flipping burgers was never supposed to support a family of four I truly believe that there should be a minimum wage of an hour and I say that because a if all companies have to pay the same minimum wage then we all play by the same rules but thats not even the most important part when somebodys not able to pay for themselves andor their families they go out and get government services you know who pays for it you and for others theyre not even able to get the government services they need so you know 
what happens thats what we see people living on the streets I dont want that you know 
what else happens thats when we see people have food insecurity they cant feed themselves they cant feed their kids and so
 when we help people and were compassionate and we allow them to live their lives with a living wage then not only do we make the country safer but we put everybody in a position 

where they're not dependent on government decisions and government resources and government tax revenue part

 when a company doesnt pay a minimum wage and they have employees that are receiving government assistance that means we as taxpayers including you Jordan snow subsidizes that company thats wrong I literally went through my companies and asked and checked to see if any of our employees were receiving government assistance in terms of their wages I made sure that none were in a situation where they qualified it for government assistant because their wages werent high enough I dont want taxpayers to be subsidizing my business so lets just raise the minimum wage to a living wage and compete because thats 

what American is all about capitalism entrepreneurship

 with a little bit of compassion thrown in and I think would be a far better place to live a far better country to live in presidential candidate Andrew yang someone should definitely run against Trump in the Republican primary against William Welch at Mt question mark higher up side than most its not over till I say its over Andrew you just wait and see Im Mark Cuban and this has been mogul support I hope you learned something about business entrepreneurship and most importantly making money and even more importantly being nice '
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