Shark Tank star and billionaire owner of the NBA’s Dallas Mavericks franchise Mark Cuban speaks his mind. The difference between Cuban and many popular influencers is that before he speaks, Cuban makes it a practice to listen. Like his pal, Warren Buffett.
That listening informs Cuban’s continued push to expand society’s understanding of the depths of the racial divide in the US — Cuban says “uncomfortable” conversations are necessary about racial inequality and white privilege.
And Cuban’s penchant for listening also informs his take on the recent stock market surge. He wants the data to talk to him first, about new economic realities.
Cuban says that the market isn’t yet acting on “definitive data” necessary for good decision making. The billionaire says in a recent interview that “once we start to really have definitive data on the other side, people are going to sell on the news, and if I had to make a bet, that’s it.”
Right now, Cuban says, you can make the argument that “this whole run-up is just buying the rumor.” He puts the situation pretty plainly when he says: “I don’t think the market is truly understanding the challenges that we may be facing.”
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Those challenges include what will really happen with job availability when the COVID reckoning comes. Another is how can consumers continue to feed the economy when the spending money isn’t there? Like in the 70s!
Shark Tank, starring Mark Cuban, airs on Fridays on ABC. [BONUS: Stream any ABC show through the ABC GO Digital App found here. Download is FREE.]