Mark Cuban Goes Undercover on Reddit, YouTube and Twitter | GQ

hi this is Mark Cuban I'm about to go undercover on the Internet this is actually me Wikipedia Mark Cuban hates meetings he has said the only way you're gonna get me for a meeting is if you're writing me a check yes I hate meetings nobody likes meetings except the people who bring the donuts and the people who love to talk about their kids because when you sit in a meeting you waste half the meeting so how was your weekend how's your day why don't they get the right kind of doughnuts I'm tired of doughnuts we should get cupcakes all this nonsense that has nothing to do with getting the job done I have so many different investments so many businesses I'm involved with I want to do everything via email because that allows me to go back and look something up so if you told me bla bla bla your kids and I said oh that's sweet and then we talked about business I can go back and search it five years ten years twenty years I got emails that are twenty-five years old now since Gmail you know takes gigabytes and gigabytes of storage I can just do search so I don't even have to organize them but I make an exception if you're gonna write me a check and it's a big one I'll be there Quorra how did Mark Cuban turn the Mavs around from a business perspective well I'm gonna be brutally honest I really didn't care about the business of the Dallas Mavericks when I bought them I really cared about winning championships and winning games and so I spent a whole lot more time on the basketball side of things and the Mavs lost money almost every year until the past three years when I got to the NBA when I bought the Dallas Mavericks everybody thought we sold basketball very few people go to basketball games to watch basketball think about the last sporting event you went to do you remember a jump shot do you remember a dunk do you even remember the score maybe you remember who we played but you remember who you were with it's an experience you remember how you felt when that balls in the air and it's a tie game if it goes through the hoop you win and if it doesn't you lose everybody collectively twenty thousand people are holding their breath and when it goes through the hoop you're high-fiving and a hugging and squeezing so tight people you've never seen before in your life you're walking out of the arena screaming and yelling and if you loose you do the exact opposite Apple one of the biggest companies in the world they could have their best quarter their best year ever no one's throwing a parade in Cupertino the Dallas Mavericks win a championship Dallas is on fire everybody's having an amazing time the whole city feels the energy you feel that energy when you walk into the arena that's what I convinced the NBA that we sell and that literally changed all sports was sold posted IMDB after he sold his first company he tried acting without much success and even auditioned for a role in the film twister in 1996 but lost out to Philip Seymour Hoffman yes that's true after I sold my first company then I started trading technology stocks I did so well I turned that into a hedge fund and almost immediately sold that moved out to LA to live on the beach and just be retired and I took acting classes why cuz I wanted to meet people that I did I got to take classes of all kinds of bit while this back in the day the cast of In Living Color all these different shows and so I started auditioning those audition for commercials you know I had to put the Taco Bell hat on and just act stupid did some Ford commercials so I auditioned for a movie twister and got a callback got another callback I'm thinking yeah and then didn't get a callback I forget the role but the name of the role but dusty yeah dusty and so I'm thinking I'm dusty well then I watched the movie Philip Seymour Hoffman is dusty Academy Award actor I would I would I was right for the role he was miscast Twitter what do you give a billionaire on Valentine's Day coupons definitely not chocolates you know what a nice hello goes a long way a little kindness I think that's what I want for Valentine's Day my most memorable Valentine's Day would not be family-friendly right about now so we'll pass on that one how did Mark Cuban save his wealth from the dot-com crash he sold broadcast calm for 5.7 billion in Yahoo stock how did he get out before it all went down well I'm gonna tell you before we started broadcast comm as audio net in the mid 90s I had sold couple companies and traded stocks a lot I made a lot of money trading technology stocks when we took broadcast comm public in 1998 our first-day IPO price the increase was the largest increase for an IPO in the history of the stock market at the time and then Yahoo bought us for 5.7 billion dollars and stuff some people thought the stock market was going to go up forever I had more than a billion dollars to my name they said oh you should just keep your stock and don't do anything with it because it's gonna keep on going up forever I was worth more than a billion dollars how much money do you need there's no reason to be greedy I didn't need more I just needed to keep what I had I watched my broker and I did something called a caller and I had to wait six months and that was a nerve-racking six months but I sold what's called calls on Yahoo which gave somebody else to write to buy it at a higher price and I used that money to buy something called puts which meant if the stock dropped below a certain point I was able to sell that stock at the value of the put when the internet stock market bubble burst that saved me you know was unfortunate a lot of people lost a lot of money and impacted the economy I was able to protect myself but it was really building of the fact that I wasn't greed looking back there's been articles written about that trade that's been called one of the top 10 stock trades of all time if you're buying and trading stocks always remember this when you think you've made the best stock by ever you are so smart and everybody knows this stock is going up forever ask yourself why somebody sold it to you I'm not saying sell your stocks I'm not saying the markets going to go down I don't know and neither do you so be careful now I'm getting all preachy Instagram honest question I'll preface it by saying I truly think you're the best owner in team sports thanks David what was the process you went through when you overruled your management team and passed on giannis if you don't know Yanis inst comfo the Greek freak probably gonna win the MVP for the Milwaukee Bucks and in 2013 our general manager Donnie Nelson said we have to get this kid if you're a basketball fan you know the Greek who the Greek freak freak is you know how amazing is he back then there were two VHS tapes of him playing in this horrible little league that probably wasn't as good as the league I played in at the gym we just had these tapes but our guys had gone to see him they said this is the guy he's gonna be really good and I'm like who else was watching this kid if he's going to be a superstar you would think somebody would draft him the double bad news was not only do we not get the Greek freak and missed out on him but we also didn't get the free agents we wanted either so we got shut out thanks for asking that question why does Mark Cuban do his own laundry now first of all I don't always do my own laundry when I travel I do my own laundry I just do but my wife kills me because I don't use laundry detergent like for workout gear I'll just throw it into the washing machine there's no good reason other than laziness and then I'll just throw it into the dryer but you know sets a good example for my kids if dad's doing his own laundry I don't have a good reason beyond that which companies that have appeared on shark tank does Mark Cuban regret not investing it none none when we come to shoot they'll just bring in deal after deal after deal and when they walk in we know nothing about them they'll just start pitching us and we have to decide what we're going to do right there and then a shark tank deal on television might be 10 14 minutes they can go 30 45 90 minutes two hours imagine those one after another for weeks at a time once they leave they are gone lost forgotten I don't pay attention to any deals that I didn't get as Kevin would say they're dead to me em Cuban we all know you sold garbage bags door-to-door I'm doing that right now why I have no idea but what were the following six job I sold garbage bags door-to-door when I was 12 years old because my dad told me the only way I could get new basketball shoes was if I had a job and one of his buddies said I have all these garbage bags to sell why don't you sell him so I sold him door-to-door got my kicks my next six jobs oh my god I was a box boy I got a job working on a delicatessen I was chopping chip chopped ham if you're from Pittsburgh you know what chip chopped ham is what's the paying attention and this finger went right into the blade that was spinning around and chopped off the end of my finger went flying on a bully everywhere that job ended like that after that I had a bunch of odd jobs laying carpet just random random jobs I'm CUBAN renting a book on maths history you would play wiffle ball in the first mansion you bought after the broadcast calm sail accurate absolutely one of my former partners came to me and said there's this enormous house that some guys spent twenty five million dollars to build and I could get it for half the cost that he cut to custom to build twelve million dollars I said I'll buy it sight unseen the place is enormous 24,000 square feet aren't even still to this day don't know how many bedrooms or bathrooms a year or two would go by and I wouldn't go upstairs and you know there were rooms I had still haven't been in in years in the ballroom there was a fireplace a window there's a pillar and there's a bar home plate first base second base third base I had a wiffle ball bat and a wiffle ball because every guy who lives on their own does my buddies would come over then it was big enough you can curve the ball and hit and run and hit homeruns and until I got married effectively I had no furniture and we played wiffle ball in my ball room I still had the house and I still had the wiffle ball bat and literally just the other day the dog ate the wiffle ball if your tax rate was dropped to say zero would you take that money not paid in taxes and give it to the workers in your companies in my opinion the idea that corporation would is unfounded I'll tell you exactly what I would do if you remember what I said about broadcast comm when we sold the company out of three hundred and thirty employees three hundred own shares of stock and became millionaires in my companies that I start everybody has stock if taxes went to zero and I don't think that's a good idea but if taxes did go to zero I would invest in the company to make it as big and profitable so stinking profitable that because the employees are owners whenever I got paid they would get paid too when you get paid by the hour sure the more you make the better things are but if you own stock in a company then the better that company does the better you do and the only way to get out of that mode of getting paid by the hour getting paid a salary is if the company grows as big as it possibly can neither generates a lot of cash so that you get paid where the company gets sold and to me that's how you start to fight income inequality during college he had various business ventures including a bar disco lessons and a chain letter yes I did I went to Indiana University and I had to pay for my own school well I had to figure out every which way in order to do it the chain letter was my junior year you buy the chain letter from somebody and then the letter is a list of ten names you give $50 to the person you bought the letter from and you send $50 to the person at the top of the list scratch their name off put your name at the bottom then find at least ten people to sell it to so that one by one your name works its way to the top of the list while I did that and got my name to the top of the list and I also sold it so that none of the people I sold it to lost any money because I would have felt horrible I remember getting up every morning so excited because there'd be like envelopes with 50 bucks here 50 bucks there it was it was amazing it was great it was illegal but that was my chain letter my junior year and that's how I paid for my junior year of college now in term of disco lessons I needed a job I like to dance I always like to dance I was okay at it I was out dancing with some friends at a club somebody saw me and they're like we need you to give disco lessons at our sorority house cool how much you gonna pay me they're like $25 an hour oh my yes I got to go to a sorority house who then referred me to another sorority house who done referred me to another sorority house it was the happiest time of my life I can't show them all the place I would dance we would throw parties there I'd act as a party promoter but that bar was going out of business I took another student alone fifteen hundred I think it was I went to my friend and he had some money Evan we said okay we want to take over the bar and I don't really have much cash to give you but I want to turn it from a disco into more of a rock oriented dance and hang out and party bar and they were like cool and so we wrote up a little contract and I mean I was so stupid I'd even use a lawyer I was able to take over the bar and effectively buy it we took all the disco stuff out put in the best sound system and stereo system that we could find if we didn't have a lot of people come those first couple days we were out of business immediately I was using my student loan money and I still had to pay for college and it would have been a big problem we opened up and there were lines to get how did I open it being under 21 they didn't ask him I didn't tell you agree with Mark Cuban that liberal arts graduates will become more valuable in the future twelve years ago there was no iPhone 25 years ago the internet was just happening 30 years ago we were just seeing PCs and we'd come so far just with that artificial intelligence and the advances it introduced is just gonna dwarf iPhones you know local area networks the internet it's just gonna blow them away we're gonna start using AI for a lot of different applications in jobs if you're gonna build an AI a neural network that is about Shakespeare if that's about customer service in telecommunications that's about any particular topic you need someone with expertise not only in their topics but people who are able to be able to put together objective network so that they're able to find and eliminate biases wherever they find them humanities and technology in the world of artificial intelligence have to come together otherwise we're gonna see all kinds of problems data is going to drive everything that we do we're really gonna live in a completely different world and even though technology might not have been the same 50 100 500 years ago typically we tend to go through the same types of problems and having people with a perspective that's different than a technologist will be incredibly valuable that's it for today I've answered your questions this was actually me

Channel: GQ

Views: 2,053,732

Rating: 4.9041257 out of 5

Keywords: actually me, gqactuallyme, mark cuban, undercover, mark cuban interview, undercover celebrity, celebrity goes undercover, undercover celeb, celeb goes undercover, mark cuban 2019, mark cuban gq, mark cuban undercover, mark cuban goes undercover, mark cuban actually me, mark cuban reddit, mark cuban youtube, mark cuban twitter, mark cuban funny, mark cuban answers, mark cuban responds, shark tank mark cuban, mark cuban shark tank, mark cuban mavericks, gq, gq magazine

Id: kbEOJLiIjUM

Length: 14min 42sec (882 seconds)

Published: Sat Sep 28 2019

Reddit Comments

[u/razen21]

He said he passed on Giannas because there wasnt enough evidence of him being good.

[u/TooAddicted03]

Long story super short... there was only 2 videos of him at the time he was drafted of him actually playing and even though his scouts said “they should really get him, he’s gonna be good”, Cuban decided to pass because he was too much of an unknown player

[u/Mikeg5680]

What’d he say? (Utube is banned in niger)