Mark Cuban, this is my AMA

Why are you doing an AMA on Christmas Eve?

because I can.

You own Magnolia pictures. Magnolia pictures owns the movie V/H/S. I'm a director on the movie. So this is how we meet. Reddit.

nice to meet you. Great movie !

everyone should check out http://www.magpictures.com and in particular V/H/S

How's your relationship with Skip Bayless?

who ?

You came in to my work and tipped 100 on a 50 dollar tab. You made the waitresses night. You sir, are a gentleman.

i worked as a bartender and waiter. I always try to tip well

I hate to be so straight forward, but what does a billionaire buy his kids for Christmas?

the same junk that everyone else buys.

On Shark Tank, how many of the deals get modified or cancelled after the cameras stop rolling? Also, have you ever decided to make a deal with someone after the cameras stop?

we get the chance to do due diligence after the show. As a result you uncover things that were not brought up in the show , so its not unusual for a deal to fall through in the DD phase. I have had things like people who never paid their taxes, people who lied on the show, people who didnt think that if they spent money on their personal credit cards it should be considered an expense., you name it.

There is so much pressure on the entrepeneur during the show that sometimes they say what they think we want to hear rather than the truth. The DD helps us seperate the two

How many of the deals have you had to break off in the DD phase?

probably about 25pct of them have something wrong

Do you have any interest in eSports? Starcraft 2, league of legends, Dota, counter strike. The industry could use someone like you

Ive looked at MLG and talked to folks in the business. Its interesting. But i havent had the time to take a deep dive look at it yet

Complete the sentence. David Stern is _______.

a great tailor :)

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its not about the idea, its about how prepared you are. Everyone has ideas, most dont do the work required to get the job done. The 2nd thing you need to know is that sales are the most important aspect of a small business. No sales, no company.

What's the most ridiculous thing you've ever seen someone do whilst trying to pitch their product on Shark Tank? I'm talking either on or off air, preferably the latter.

Thanks, Mark.

the ion watch deal was pretty much it. You cant come on expecting to scam us. We will nail you.

Got to go folks. Thanks for all the great questions ! Hope you all enjoyed it and I hope to do one again !

if you want ot know more about me, check out markcuban.com and check out my book or go to AXS.TV for more about the network

thanks !

http://www.amazon.com/How-Win-Sport-Business-ebook/dp/B006AX6ONI/ref=sr_1_1?s=digital-text&ie=UTF8&qid=1356368924&sr=1-1&keywords=how+to+win+at+the+sport+of+business

Hey, Mr. Cuban.

Why do basketball players only get recognition after they’ve been a part of a championship team? For instance, Dirk has been an amazing player for 10 years now, but only got the respect he truly deserved from fans after having a championship caliber supporting cast (Including coaches) around him. If it’s a team game, why do players only get appreciated after they accomplish something that’s mostly out of their control (Since, most of the time, they don’t decide who they get to play with)?

Thats the stupid , macho element of all professional sports. Its a lot easier to just pin a lable on someone than to actually do the work to determine the impact of a player. ITs the same reason everyone over values scoring in the NBA. Scoring is usually the easiest part of the game.

k this is going to be a weird set of questions but how often do I get to ask this to a billionaire?

1) When you buy something on Amazon or something, do you ever look at the prices? Or do you just buy whatever looks good and have it ship overnight?

2) Let's say that you're looking for a new mp3 player and earbuds and can't decide which to buy, do you just buy whatever one you think is best? Or do you just go "fuck this, I'm a billionaire, and I'll just buy everything & throw away the rest"

3) Speaking of which, what kind of laptop do you own? And mp3 player? Are they customized or are they whatever is on the market?

1. i always look at the prices. And I belong to Prime to get better rates
2. I buy the one i like. I dont throw shit away like that
3. I have a MacBook Air, but am trying the new Acer with Windows 8. I really, really like Windows 8 on my phone. I have 2 phones. first is samsung the 2nd was an Iphone5. THe new Nokia with windows replaced my Iphone 5

What? You mean you don't use T-Mobile 4G? Color me shocked!!!

i actually do on my samsung. I love the tmobile wifi calling option. I love the open Android and Samsung platforms. I use a replacement keyboard sw which increases my typing speed (i still miss the speed typing on my sidekick).

I love myIPad and my macbook air is amazing when it doesnt crash, so i like apple products, but i think as far as phones, both Samsung 3 w android and the windows phone kick the Iphone's ass. Its not even close.

So the most recent season of Shark Tank has a lot of T-Mobile product placement. Is it really as cheesy to do as it is to watch on tv?

it is beyond cheesey. none of the sharks like it. but we learned from it and it will be different in the future

Have you ever "made it rain"?

no. thats dumb shit that people with real money dont do .

First off, thanks for being outspoken about the broken patent laws.

It's been a little over a month since you decided to step back a bit from Facebook and, as you put it, moved it to the bottom of a long list. I know a month may not be a very long time to give a good sign of how that's going, but I am still curious how you feel this has affected your brands, if at all? I imagine more emphasis on other social networks may benefit you in other ways, but I am very curious to hear how your drawback from Facebook has been so far.

actually it has really helped. IN particular for AXS.TV (http://www.axs.tv )

while we continue to use FB and even invested in a company, www.bad.gy that works to optimize facebook, we have taken the time to explore the new myspace, work on tumblr, pinterest and other options.

I think FB is going to have some challenges going forward. Its going to be interesting to see what happens from a user perspective.

Just to suss that out a bit -- how has stepping away from marketing on FB helped AXS?

Curious, if you don't mind going into a bit more detail.

it made us take a hard look at the other options and really get involved with them as a hedge. I believe the aggregate value of the other options will offer more opportunity for brands than FB alone

First of all, congrats on the 2010-2011 championship and thank you for taking the time to do this. Two questions:

1. What are your thoughts on the Spurs benching controversy? As an owner and businessman, do you see yourself agreeing with the commissioner?

2. Your organization dealt with a player suffering from bipolar disorder (Delonte West). In light of DeMarcus Cousins' suspension and the Royce White situation, what are some of the challenges of managing players with behavioral or mental health conditions?

I agreed with the commish on it. TV is our lifeblood as a league. You cant screw with the money maker

1. We as a team/league have to be proactive. The Mavs have a full time psychologist that travels with the team and sits behind the bench. Doesnt matter what your skill and physical gifts are if you cant get your head right. We think its the next big dimensional change in sports. Working with the mental aspect of life and the game with our players

What was your reaction to Lebron leaving the cavs in 2010?

i was surprised

Hi mark,

There seems to be this stigma in the NBA, that no one really wants to play for the Toronto Raptors especially superstars. I myself have lived there in the past and its a wonderful city and i can't see why anyone wouldn't want to live there. Canada is a great place to live but it seems to really scare players away, it could be the high taxes or the cold weather, but other teams have that too.

Why do you think Toronto is avoided by major NBA stars?

i dont get that either. I think TO is an amazing city

How many of your investments on Shark Tank actually make a profit?

ive only lost money on 1, toygaroo.

What are some must read books you would recommend to any inspiring entrepreneur? (Besides yours, which was a great read!)

Every entrepreneur should read How to Win at the Sport of Business http://www.amazon.com/How-Win-Sport-Business-ebook/dp/B006AX6ONI/ref=sr_1_1?s=digital-text&ie=UTF8&qid=1356368924&sr=1-1&keywords=how+to+win+at+the+sport+of+business

is the link. Other books really depend on what you are interested in. I like to read biographies of successful people . Ted Turner's bio was always big for me because he worked hard and played hard.

I also love Ayn Rand books , purely for motivation. I dont get into the whole ethos and political aspects of her writing

Thoughts on the NHL lockout?

the nhl has to use this lockout to fix its problems. You cant have every team south of the Mason Dixon line going broke every year

Do you remember a place called Motley's in Bloomington?

:)

What do you think of Damian Lillard so far this year? And where do you think the Blazers will end up this year, or within the next few years? Bright future or inevitable "treadmill of mediocrity?"

Glad to see an owner that's so human win a championship. It's obvious you care about your team and I was happy for you guys in 2011 even though you knocked my Blazers out of the first round.

he is a beast and he has a great choice. Nothing but upside for him

How do you like being on the "shark tank"? Is it very scripted or do you guys speak freely?

shark tank is not scripted at all. When the entrepreneur walks into the shark tank the ONLY thing we know is their first name. NOTHING else.

the only "Scripted" part of the show is this.....

the producers tell us before every show ---

If an entrepreneur looks like they are going to cry, shut up and let them. They love tears. Thats the only scripting

Hey Mark, how close did you come to buying the Cubs?

not close at all. When I couldnt get the owner of the Cubs to sit in a room with me that pretty much told me it wasnt going to happen. I never made a final formal bid

Do you think the increased number of technical fouls called is necessary, or are the refs being a little too sensitive?

I think a tech is more a reflection on the officiating than it is on the player with the exception being the guys who just love to yell. ie, the old school Rasheed Wallace.

There are so many fewer techs in college and the coaches in particular there get a lot more beligerant than what you see in the NBA

On Jimmy Kimmel, you mentioned you clicked the receipt button once at an ATM to check your checking account balance and it being some insane number (around $300K if I remember correctly). Have you checked recently to see what it was?

yes and its more insane. I keep a lot of cash available for investments.

MOst people throw their money at investments trying to beat inflation or the market. I wait until somebody does something stupid and try to pounce. that is where the best deals are made

What advice would you give to an undecided college student finished with general studies and eager to get a degree?

pick a school that you can afford to go to. Dont take on debt. Debt is the anchor you dont want when you graduate. It will force you do to things that may not be in your best long term interests

Thoughts on Deron Williams?

none

What are you most proud of?

my family. in particular my kids

Im excited about the Mavs and what we are doing at AXS TV and really what we are doing at all my businesses

what was Mark Cuban like growing up?

no different than anyone else. Loved sports. Went to public school

Dirk Nowiztki?

im just glad he is back !

Mark, what got you motivated to owning and running an NBA franchise? Is it worth the stress and toil at the end of the day?

it is a lot of stress but its really a unique challenge and opportunity. There are only 30 of these jobs . When we lose its still painful. It will be 13years next week and losses hurt just about as bad today as they did day one

mybig challenge is to make sure that stress and my competitive nature doesnt spill over to my family

Thanks for doing this! What do you think gives the Mavs an advantage in a stacked Western Conference this year, whether it be how the coaching staff game plans or certain personnel advantages? Do you think there will be any difficulty in having Dirk and Mayo on the floor at the same time in a sort of Stoudemire/Melo situation? What advice would you give to a young entrepreneur?

I think dirk will help OJ's game a bunch. Up till now teams have really overloaded their Ds to stop OJ. With Dirk back it should open things up for OJ and the rest of our offense.

If we can stop turning the ball over we will ok. If not, not. The turnovers are driving me crazier than this damn kidney stone surgery Ive had to deal with. I think the turnovers are more painful

What was your favourite part of being involved in Entourage?

acting. It uses a part of my brain that is very different from business. Which makes it a huge challenge.

That is why you see me doing commercials, acting , film, its a unique challenge for me, which i love

Hi Mr. Cuban thank you for doing this AMA. I have a couple questions about Shark Tank.

What has been your favorite product pitched on the show even if you didn't invest? What is Kevin O'Leary AKA Mr. Wonderful like off camera?

Happy Holidays!

There is a guy selling belts that will be on this season. he was my fave that i didnt do.

and Kev O is just your every day money grubbing, financial engineer . Unless he is drinking. then he is a blast :_ jk

What's the most expensive gift you purchased for anyone this xmas?

under 200 dollars

Hi Mr. Cuban,

Have you noticed a slowing down of series A funding in the tech startup world and if so, what are your thoughts?

Thanks for doing this!

there is a HUGE bubble in the Valley for tech startups. The valuations have gotten out of hand. When valuations go up beyond the reality point, the funding goes down.

its almost become like the movie business was 10 years ago. THere was so much dumb money coming in and so few actually making money that the suckers finally wised up.

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i think an MBA is an absolute waste of money.

If you have a hole in your knowledge base , there are a ton of online courses you can take.

I dont give any advantage to someone in hiring because they have an mba

Do you ever feel your wealth is a product of being in the right place at the right time (in relation to the internet bubble of the late 90's)? Do you think you'd be able to find similar success if you were graduating college today?

ive made a lot of money from a lot of different companies i have started, but there is no question i made the most money because i knew what i was doing on the net when the internet bubble hit.

Timing didnt make me rich, i was there already. But it put a B next to my name

Hey Cubes, I will be graduating from college with degree in marketing in May. Do you have any advice for someone who would like to work in professional sports?

dont. get a real job

Did the Iwanttodrawacatforyou partnership work out?

absolutely. he has paid me back my initial investment already !

iwant to draw a cat for you, cat for you !

google it 1