MARK CUBAN, LEADERSHIP
Entrepreneur and author, How to Win at the Sport of Business, named “the People’s Billionaire;” and owner of 155 companies
1. Mark recommends providing stimulus payments of $1000 to consumers every two weeks for two months after unemployment runs out. “If you don’t spend it, you lose it.” The idea is, “We don’t care where they spend, just that they do spend.” The economy needs consumer spending.
2. Companies need both agility and resilience. “You’re really going to have to be agile and communicate in ways you’ve never done before. Talk to employees on the front lines. Ask what they would do. “The answers aren’t going to come from the same places we’ve always heard from.”
3. Don’t assume pent up demand is sustainable demand. Dallas opened the first weekend in May. There was an initial surge, and then things leveled off.
4. America has to make a federal investment in robotics and AI—infrastructure 2.0 We’re behind Germany and Japan and arguably China. “If we don’t invest, the next giant sucking sound will be from foreign countries that have invested in AI and robotics.”
5. “Whoever invests, optimizes and really perfects manual dexterity in robotics is going to win. That’s got to be us.” Vladimir Putin: “Whoever dominates AI dominates the world.”
6. There will always be jobs disrupted as tech moves forward. If we become a leader in robotics, we can create a manufacturing infrastructure that will generate more jobs than today.
7. Mark recommends taxing robots by the hour, with some portion going for worker benefits and infrastructure.
8. The business Mark would launch if he were starting over would be in ambient voice computing. “I’d learn everything I can about scripting for Amazon, Google Home, or Cortana.”
9. As to running for office, “I’m an entrepreneur. Every entrepreneur says, ‘Always keep your options open. Never say never, but it’s very unlikely.”
10. As for leading through the recovery, “ This is such a total reset, everyone has the opportunity to venture into new territory and change the game. This is where you have to really communicate honestly and authentically.”
11. It’s a unique point in time to start a company. “When we look back at pandemic of 2020, we’ll realize there were 20-30 world-class, game-changing companies that were created. Where do we find them? It’s going to be talking to people on the front line. Talk to the people you normally don’t talk to. Look for the crazy.