- Hey, I'm Mark Cuban,
and today we're gonna be
talking about Mogul Support.
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Coachosilver365, whether
in business or sports
when building your team,
are you more interested
in getting someone who is
an expert at something?
Or would you rather have
someone with more potential?
Question of the day.
Olivier, I want an expert.
Everybody's got potential, everybody.
I want someone who knows something,
give me someone who
knows their, every time,
'cause then I can turn
it into something real.
The key to being successful
and achieving your dreams
no matter what they are,
is finding something
you really, really like to
do, and being great at it.
When you're great at something,
you get to write your own ticket.
So, I'm always gonna hire the expert.
If you just have potential, chances are,
you're working for the expert.
[stamping]
Thanks, Olivier.
Carisa Sechrist, I have
to do an elevator pitch
for a business proposal,
I've never done this,
what's your advice?
Carisa, get on an elevator, pitch.
[stamping]
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AliTheGre4t, should I pay
off the house or save cash?
@mcuban.
The real answer is depends on
what your mortgage rate is.
If your mortgage rate is over 5,6%,
what you should do is refinance.
If you have enough cash to just
pay off the entire mortgage,
that's great, but in this particular case,
you probably want to
talk to an accountant.
Because depending on
what state you live in,
there's all kinds of
different laws and rules
for deductions, and so it
can kinda get complicated,
and as much as I'd like
to give you advice,
talk to your accountant's the best advice.
RobertReed2nd, 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 mange my
work-life balance now?
It's easy, I'm rich, I do whatever I want.
If I wanna 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 started,
I was living with six guys
in a three bedroom apartment,
and so I had no work and home balance,
I was working at night as a bartender,
and all I did was work.
I went seven year
without a vacation, dude.
That's what it's gonna take.
[clicking]
That's home-life balance.
CryptoDoom, if you're really
into providing opportunity
for people to grow their net
worth, why the hate for crypto?
ICO is the new IPO.
Here's the thing about
crypto, particularly Bitcoin.
Bitcoin is worth what
somebody will pay for it.
Did you ever see someone who
collected baseball cards,
and they were really, really, really proud
of their baseball cards,
'cause they kept on saying
they were gonna go up in price?
Comic books, same thing.
Even artwork.
There's no real intrinsic
value, you can't eat
a baseball card, or shouldn't
eat a baseball card,
your artwork might look good on the wall,
but not much you can do with it.
Bitcoin there's even
less you can do with it.
At least I can look at
my baseball card and go,
"ooh, that's my favorite player,
that's Roberto Clemente."
I can look at artwork and go, "wow."
Crypto is a key, that is so complicated
for 99% of the population.
Do you put it in a device?
Do you print it out?
How do you keep from being hacked?
Who's gonna host it for you?
It's just so difficult,
that it's only worth
what somebody will pay for it.
So, I say it's like gold.
Gold's a religion.
Now, people who are really into gold,
they'll tell you that
there's a bad depression,
and things go to hell in a hand basket,
if you own gold then you'll be okay.
No you won't!
You carry around a gold bar,
someone's gonna hit your ass,
knock you out, and steal your gold bar,
and it's gonna happen
again, and again, and again.
I'd rather have bananas,
I can eat bananas.
Crypto not so much.
Look, I can make a great
argument for Blockchain,
there's a lot of applications
and they'll be used,
but you don't need public Bitcoin BTC.
You can create Blockchain on your own,
without using all of the
available cryptocurrencies.
It's not that I'm
against cryptocurrencies,
you just have to be very careful,
at best they're stored value.
Thanks CoinsorDie.
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Mcsoundstudio, what makes
a good business partner?
A good business partner is
somebody who makes me money.
[stamping]
@thesnck, tax the robots by the hour?
WTF, question mark.
So, that tweet was in reply to this one.
You are getting the
short end with tariffs.
If we as a country invest in robotics,
we can build factories
anywhere, including our own.
That's how you replace cheap global labor.
I'd rather pay you to
monitor and fix robots
and tax the robots by the hour.
That's how you win.
So, it just so happens I have
a company called, Hirerobotics.
And what does Hirerobotics 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 em' by them hour.
And they charge em' effectively
what a traditional laborer would cost.
Except they work 24 hours a day,
they don't have to go to the bathroom,
they don't eat, they don't call in sick.
But the real context of this tweet was,
how are we gonna 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, as part of our
infrastructure spending,
with public-private partnerships,
we invest in robotics.
We'll 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.
It's 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 healthcare,
it may pay for single
payer, it may for UBI,
it may pay for a lot of different things.
But I'd much rather tax a robot,
who's pulling in factory
jobs from over seas,
then any other option
then I can see out there.
@LarsenJay, tell me again why there's
no ABCSharkTank for nonprofits?
We're also businesses that need investment
for growth/impact, with a
return that's priceless.
Invest in what you value!
I'm gonna tell you why
we don't 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 the worst
human beings on the planet.
We can't do nonprofits, we can't do kids,
because we can't say yes to everybody.
And so it's just better
that we don't do it at all.
From Chris Winters, wints9er.
Mcuban, when you look for
leadership in your organization,
what's the biggest success factor?
Any specific advice for
engineering leadership?
When I look for leadership,
I look for a few things.
One, it's 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 it's your company,
or somebody you work for,
and align them with the
interests of the people
that work for you,
you'll be a great leader.
And you also have to
recognize, in this day and age,
people aren't looking for
lifetime jobs at a company,
they want jobs that'll 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, hoping I said that right.
Where's the first place to
look to find a business mentor?
How do you know if you can trust them?
I'm not a big mentor guy,
I've always been a believer
that if you really wanna 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 help you a little bit,
maybe they help you avoid some mistakes,
but when you're just getting
started out, in particular,
it's okay to make those mistakes.
And more importantly, you have
make the commitment to put
in the time to learn what
you need to learn to be great
at something or good at
what you wanna be good at.
There you go, Sade.
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Stuart Plant, being able to trust
an organization's brand,
people, and products,
are all key components
of business success?
Question mark.
So, through customer
service, how do you gain
and retain your customer's trust?
Have you ever been a customer?
You treat other people like you wanted
to be treated as a customer.
It's really, really, really simple.
You know, you gain and
retain a customer's trust
by helping them achieve their goals.
If you're 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 asset
everybody has, is time.
The one thing you cannot buy, is time.
The one thing you cannot
give back, is time.
If you make someone's life easier,
your customer's lives easier,
if you help them save time,
you will develop a great
relationship with them,
and you will gain their trust.
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Hieu Nguyen, how do I start
a business from scratch
with no money, no credit, and
no expert friends to help?
[stamping]
You don't.
From Cryptic, @CryptoUnlocked.
@mcuban, hey Mark!
I have a question I think many people
would like to hear your answer.
With all the talks of a recession coming,
what do you think will help someone
going through it for the first time?
For example, Millennials.
@mcuban.
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 all-time low.
So, it's a perfect time to go out there
and refinance your debt.
Two, 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,
and the impact a slow-down
would have on your job.
If you work for a company and
there's a recession coming,
and you understand your
role within that company,
you can anticipate whether or
not a slow-down in business
is gonna impact your
job, for better or worse.
Number four, live as much
like you can as a student.
Because the ultimate rule is,
the lower your bills,
the lower your stress.
Number five, don't listen to any experts
about whether or not a
recession is coming or not.
Nobody knows, they're all guessing,
and they guess because
it helps them get on TV,
or get interviewed, or
probably on a podcast,
'cause all economists love to do podcasts.
Number five A, because
there's always a five A.
We live in a global economy
whether we like it or not.
The butterfly effect applies.
We don't know what combination
of big or little things
will make things better,
or make things worse.
A factory could close in Vietnam,
that impacts something else,
and that impacts the global economy.
You just don't know.
Number six, do all you can
to be great at your job.
But, you have to be honest with yourself.
Employees with no self-awareness,
are always the first ones to get fired.
Number seven, be someone who reduces
the stress of people around you.
It's always the people who
think they're irreplaceable
who cause 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
you're a stress creator,
or a stress reducer.
Because in my experiences,
I'll always fire someone
who creates stress, and I'll
always look to keep people,
and give raises to
people, who reduce stress.
From Jordan Snow, UGAScotchman,
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,
i.e., the cost of training new employees.
Flipping burgers was never supposed
to support a family of four.
I truly believe there should be
a minimum wage of $15 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 that's not even the
most important part.
When somebody's not able
to pay for themselves,
and/or their families,
they go out and get government services.
You know who pays for it?
You.
And for others, they're
not even able to get
the government services they need.
So, you know what happens?
That's when we see people
living on the streets.
I don't want that.
You know what else happens?
That's when we see people
have food insecurity.
They can't feed themselves,
they can't feed their kids.
And so, when we help people,
when we're 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 two, when a company
doesn't pay a minimum wage,
and they have employees that are
receiving government assistance,
that means we as tax payers,
including you Jordan Snow,
subsidizes that company.
That's 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
for government assistance,
because their wages weren't high enough.
I don't want tax payers to
be subsidizing my business.
So, let's just raise the
minimum wage to a living wage,
and compete, 'cause that's
what America's all about,
capitalism, entrepreneurship,
with a little bit
of compassion thrown
in, and I think we'll 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 Weld.
@mcuban, question mark.
Higher upside than most.
It's not over till I
say it's over, Andrew.
You just wait and see.
I'm 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.
