In conversation with Mark Cuban

The Besties intro Mark Cuban: Voting record, working with Ross Perot's campaign in 1992 0s

• Mark Cuban is a guest on the podcast, and he's doing great, thanks for having him on 16s.
• Cuban mentions that he doesn't virtue signal and will say it to anybody, and he lets his winners ride 32s.
• The podcast opens sources to the fans, and they've gotten very vocal about politics during this cycle 42s.
• Mark Cuban has been very vocal about politics during this cycle, and he seems to be speaking on behalf of the comma ticket 50s.
• Cuban is proud to be an American, and that's why he's active in politics; he's an independent through and through 1m9s.
• Cuban has voted for both Democrats and Republicans in the past, including George W. Bush, Barack Obama, Hillary Clinton, and Joe Biden 2m10s.
• Cuban's first vote was for John Anderson, and he worked on Ross Perot's campaign in 1992, where he helped with computers and software 2m22s.
• Cuban met Ross Perot through his company, Micro Solutions, which did systems integrations and local and wide area networking 3m3s.
• Cuban has a favorite story about meeting Ross Perot and seeing the original Magna Carta and the model for the Iwo Jima statue at Perot's office 3m36s.
• Mark Cuban initially met someone by saying "Hi Mr. Cuban" and reversing it, which led to them becoming friends and doing business together, resulting in mutual financial benefits. 3m52s
• Cuban did not have any further interactions with them during a campaign, and was just trying to do little things in LA. 4m15s
• Before becoming a businessman, Cuban took acting classes after selling Micro Solutions, buying a lifetime pass on American Airlines, and moving to LA. 4m19s
• The acting classes were taken to meet women, but it turned out to be one of the best things he ever did, as it allowed him to let go and approach life differently. 4m37s
• Cuban enjoys doing cameos because it allows him to completely let go and have a different approach to life. 4m56s
• He had a notable character arc on the TV show Entourage, appearing in seven episodes and the movie. 5m7s
• Cuban's social media presence and interactions were mentioned, but no specific details were provided. 5m17s
• When asked if his support for Kamala is acting, Cuban stated that he truly believes in it and that his actions are relative to the other candidate. 5m23s

The history of Cuban's love/hate relationship with Trump 5m43s

• Mark Cuban is not a fan of Donald Trump, but he doesn't hate him personally, and they have a complicated history dating back to the early 2000s 5m44s.
• Cuban attended a Super Bowl party at Trump's Mar-a-Lago in 2000, where he met Trump and was entertained by the event, but also felt belittled when Trump told him he would one day be able to sit with the rich people 5m57s.
• Trump later invited Cuban to his office in Trump Towers to discuss business, specifically selling merchandise on his website donaldtrump.com, but the meeting didn't lead to any significant business deals 8m11s.
• Cuban was struck by the fact that every inch of Trump's office was covered in pictures of him with celebrities and other notable figures, which left a lasting impression on Cuban 8m44s.
• Cuban has reflected on this experience and has told his friends that if he ever becomes famous, he doesn't want to become so self-absorbed that he fills his office with pictures of himself 9m11s.
• Mark Cuban received a call from ABC in 2004 to do a show called "The Benefactor," but after the show was cancelled, he received a letter from Donald Trump saying "you suck" and dancing on the grave of his show 9m54s.
• Cuban did not have a beef with Trump before receiving the letter, and it was just a casual reaction to the situation 10m3s.
• In 2007, Eric Trump reached out to Cuban and said there were no hard feelings with his dad, and they started working together on a project with Russian MMA fighters, including Fedor Emelianenko and Josh Barnett, competing with Dana White and the UFC 10m23s.
• Cuban's TV network, HDNet, broadcast the MMA fights, and he became friends with the Trumps again, with Eric saying "everything Mark Cuban touches turns to gold" 11m35s.
• However, their friendship ended when Trump started tweeting about Obama and the birth certificate, and Cuban responded to Trump's tweets, leading to a back-and-forth on Twitter for years 11m56s.
• Cuban also responded to Trump's tweet about his golf swing, despite not being a golfer, and they continued to exchange tweets until Trump's presidential campaign in 2015 12m21s.
• Cuban initially thought Trump had no chance of winning but appreciated the disruption to traditional politics, identifying as a libertarian but acknowledging that libertarians are not problem solvers 12m40s.
• Rand Paul is mentioned as an ideologue who doesn't try to solve problems, but is seen as a good thing for politics due to not being a traditional politician 13m0s.
• Mark Cuban was contacted by Donald Trump, and they had multiple conversations, with Trump calling Cuban 10 to 15 times to discuss various topics 13m27s.
• Trump has an unusual way of communicating through email, where he writes on a piece of paper, has it scanned, and sends it as an image via email to avoid creating an electronic record 13m57s.
• Cuban received an email from Trump's assistant, which was a scanned image of a handwritten note, and this was one of many emails exchanged between them 14m13s.
• Trump's method of communication is seen as unusual, with some interpreting it as a way to avoid creating a paper trail, while others see it as a generational difference 14m48s.
• Cuban had conversations with Trump about various topics, including the possibility of people dying as a result of presidential decisions, and Trump's lack of a ground game in his campaign 15m37s.
• Cuban also tried to engage Trump in a conversation about privacy and the FBI's use of a device to break into an iPhone, but Trump didn't seem interested in discussing the topic 15m59s.
• Mark Cuban had multiple conversations with Donald Trump about policy, but Trump never engaged in in-depth discussions and didn't make an effort to learn about the topics 16m16s.
• Cuban expressed his concerns about Trump's lack of effort to learn in an email, which Trump didn't respond to, leading Cuban to publicly state on CNN that Trump wasn't learning or making an effort to do so 16m29s.
• Despite their falling out, Cuban sent Trump a congratulatory message after he got elected and offered to help if needed 17m8s.
• Cuban was invited to the White House to discuss his "10 plan" for a means-tested healthcare system and met with Jared, Brooke Rollins, and the head of CMS 17m26s.
• During the pandemic, Cuban sent ideas to the White House on how to support people financially and worked with Peter Navarro to increase the output of a company producing PPE 17m47s.
• Trump invited Cuban to the White House, where they had a short conversation, but Trump didn't engage in in-depth discussions about healthcare and instead talked about other topics 18m19s.
• Despite their differences, Trump and Cuban have maintained a cordial relationship, with Trump inviting Cuban to dinner and complimenting his suit 18m48s.
• Cuban has stated that he doesn't think Trump is the best person to be president, but he doesn't dislike him personally 19m2s.

Trump's performance as President: what he got right and wrong 19m8s

• The way Donald Trump dealt with the vibe of the country was considered really bad, and the hate he conveyed was a major issue, as seen in his negative tweets about companies and individuals, including Mark Cuban 19m25s.
• Trump's response to the BLM protests and riots, particularly when he tweeted "when the looting starts, the shooting starts," was seen as a bad thing, and the fact that more people died during riots during his term than under Biden was a significant concern 19m54s.
• Trump misrepresented his stance on being anti-war, as evidenced by his decision to continue selling weapons to Saudi Arabia despite a bipartisan resolution to stop, which led to the deaths of hundreds of thousands of people in Yemen 20m10s.
• Trump's claim of being against all wars is not credible, given his past actions, and the mainstream media should not accept this claim at face value 20m59s.
• Trump's leadership during the 2020 riots was seen as lacking in moral character, and his response to the situation was not effective in controlling the riots and preventing further violence 21m57s.
• One positive aspect of Trump's presidency was that he did not start any new wars during his term, making him the first president in 20 years to do so, although he did inherit ongoing conflicts in Syria and Afghanistan 22m18s.
• The US has been deeply involved in a war with Russia in Ukraine, and there's an analogy to be drawn with the situation in Yemen, where the US had the opportunity to reduce deaths but chose not to, instead continuing to sell weapons to Saudi Arabia, led by MBS 22m49s.
• The US supported the Saudis in their war with Yemen, and this conflict can be traced back to a deal made in 2019, which ultimately contributed to the start of inflation 23m44s.
• In 2020, the price of oil collapsed, and oil companies were losing money, so a decision was made to ask Saudi Arabia and Russia to reduce oil production, which led to an increase in the price of gas and subsequently impacted the price of goods 24m28s.
• The reduction in oil production by 10% led to a significant increase in the price of gas, which can be tracked over time, and this increase in gas prices contributed to inflation 25m13s.
• The argument is being made that Trump's actions, specifically his deal with Saudi Arabia and decision to reduce oil production, caused the inflation that occurred in 2022, two years after he left office 25m32s.
• Trump's decision to cut oil production by 10% in 2020, despite relatively low demand, is seen as a contributing factor to the subsequent inflation 26m19s.
• The situation in Yemen started on March 26, 2015, under Obama, but Trump had the opportunity to end it and chose not to, instead selling $660 billion worth of weapons to Saudi Arabia 25m41s.
• The mainstream media is criticized for not discussing the connection between Trump's actions and the subsequent inflation 26m11s.
• As people began venturing outside their homes from April to June 2020, there was an increase in demand for oil, but the increase in production did not match the demand, leading to a rise in gas prices 26m27s.
• The production increase was limited to 300,000 barrels a day as part of a deal between Trump, Russia, and Saudi Arabia, which was not enough to keep up with the growing demand 26m53s.
• This deal led to a two-year period of increased gas prices, which did not return to pre-pandemic levels of production until the agreement ended 27m23s.
• The "drill baby drill" policy advocated by Trump was intended to lead to lower costs, as oil and energy costs are part of everything 27m30s.
• The agreement between MBS, Russia, and Trump to limit production ended in 2022, resulting in a significant increase in production and a decrease in gas prices 27m47s.
• Many people who have worked with Trump, including Pence, Mattis, Tillerson, Bill Barr, Mike Cohen, and Omarosa, have fallen out with him and do not like him due to his self-centered nature 28m11s.
• Trump's behavior and tactics have been compared to those of Roy Cohn, a notorious lawyer and advisor to Senator Joseph McCarthy 28m52s.
• In 2020, a price war between Saudi Arabia and Russia was initiated by Saudi Arabia, but it was not a cooperation to cut prices, and the US was involved as part of OPEC 29m18s.
• The price war was triggered by a conflict between Saudi Arabia and Russia, and Trump's relationship with MBS played a role in the events that unfolded 30m4s.
• The oil companies were negatively affected by the price war and appealed to Trump for help, leading to a deal that limited production and increased gas prices 30m13s.
• Saudi Arabia increased its production significantly in an attempt to take on Putin and Russia, leading to a surge in oil production 30m22s.
• Russia and other countries had to keep their revenues up during the pandemic, but the demand for oil was dropping, leading to a price war, and Donald Trump was asked by insurance companies and oil companies to go to MBS and Putin to reduce production, which he did, increasing the price of gas and oil, but negatively impacting American consumers who use gas for their cars 30m36s.
• Trump's decision to work with oil companies and protect them can be seen as strategic, but it matches up with the idea that he fully supports the oil companies over the price of gas, which could influence his decisions as president 31m32s.
• Trump's statement "I'll just get out of Ukraine" depends on who's making the money and where it is, and his "drill baby drill" policy has already been implemented, but its impact is hard to fact-check in real-time 31m53s.
• Biden's first day in office, he canceled the Keystone Pipeline and a bunch of leases, making it harder to drill in the United States, reducing the ability for domestic producers to produce, but this didn't have a significant impact on the price of gas because it's a global phenomenon 32m47s.
• The price of oil is a global phenomenon, and the US, being the largest producer of energy in the world, still only accounts for about 13% of the global production, with the other 87% having more of an impact on the price 33m11s.
• There was still an unlimited amount of drilling available on public lands and leases that weren't fully used, and Biden made mistakes, but the impact of his decisions on the price of gas is debatable 33m26s.
• The US crude oil production chart shows that more than half of the oil is exported, and the reduction in production can be seen, but the impact of this reduction on the price of gas is still unclear 34m1s.
• Domestic oil production capacity remained high relative to consumption in the US, so the biggest driver of the profits of exporting companies was affected, not necessarily the cost of energy domestically 34m13s.
• The Federal Reserve's balance sheet swelled from $4 trillion to $8 trillion due to significant fiscal stimulus, causing the supply of dollars to increase and the cost of dollar-denominated items to grow 34m32s.
• The fiscal policy and monetary policy of the federal government and the Federal Reserve are largely accountable for the inflation seen in the cost of everything from energy to production to labor to assets 35m10s.
• Global supply chains are a dynamical system, and the massive shortfall in the ability to move goods around the world was the biggest driver of the inflationary effects seen 35m40s.
• Production went down, demand went up, and the net result was that the price of gas went up, and the price of gas is a component in everything 35m54s.
• The whiplash problem occurred due to over-demand relative to the natural production systems, which could not keep up with demand because of the fiscal stimulus 36m17s.
• The decision to support energy companies and reduce production, rather than letting the market play out, may have contributed to the price increase, although the exact percentage is unknown 36m32s.
• Supply chain disruption and transitory fiscal and monetary policy, such as stimulating the world economy by pouring a lot of money out, are acknowledged as factors contributing to inflation 36m49s.
• Larry Summers warned in Q1 of the Biden Harris Administration that passing another $2 trillion of COVID stimulus could set off inflation, and his prediction was precisely correct 37m11s.

Party nominations: Kamala vs. Trump 40m46s

• A comparison is made between the Republican and Democratic primaries, with the suggestion that the Republicans had an open primary while the Democrats did not, as they pretended Joe Biden was fine and sharp, and used lawfare to keep other contenders like Bobby Kennedy off the ballot 40m48s.
• It is argued that the Democrats did not allow a fair shot at the nomination for other candidates, which is why Bobby Kennedy had to leave the party and run as an independent 41m53s.
• The Democrats are also accused of lying about Joe Biden's cognitive condition, and anointing Kamala Harris through an opaque process 43m41s.
• The Republicans are said to not have had a truly competitive primary, as Donald Trump refused to participate in debates due to his lead, and it is unclear whether other candidates like Nikki Haley, VC, or Desantis would have beaten him in a debate 42m39s.
• It is noted that Donald Trump's performance in the 2016 debates, where he crushed his opponents, is not necessarily indicative of how he would perform in a debate against other strong candidates 43m26s.
• The point is made that the Democrats' handling of the primary, including keeping other contenders off the ballot and lying about Biden's cognitive condition, is not comparable to the Republicans' open primary 43m35s.
• A personal anecdote is mentioned, but not shared, about experiences with Joe Biden, and it is acknowledged that Democrats lied about Biden's condition 44m20s.
• Mark Cuban met Joe Biden twice during a certain period and observed a decline in Biden's sharpness and quickness of response, but not in the content of his speech 44m26s.
• Cuban believes that Biden's ability to respond in real-time slowed down with age, which was a problem during debates, particularly against Donald Trump 45m12s.
• Cuban thinks that Biden's cognitive decline was not in the purest sense, but rather his inability to respond quickly, which gave the impression of cognitive decline 45m40s.
• The Democratic National Convention's primary goal is to win the presidency and control Congress, giving themselves flexibility to do whatever it takes to achieve this goal 46m17s.
• The Democratic Party is a private organization that prioritizes winning over democracy, as evident in their actions, which contradict their rhetoric 46m38s.
• There were 14 million voters in the Democratic primary, but the party's actions, such as replacing the winner, undermine the democratic process 46m55s.
• Donald Trump won the Republican primary fair and square, despite not debating, due to his significant lead in the polls 47m26s.
• Joe Biden won the Democratic primary with 14 million votes, but the party's actions, such as considering replacing him with Kamala Harris, raise questions about their commitment to democracy 47m37s.
• Mark Cuban's position on the Democratic party is that it is like a fraternity where the national organization has the final say, regardless of the outcome of internal elections 47m50s.
• Cuban views the Democratic party as a brand that can be branded however one wants, but he does not identify as a Democrat and does not care about their actions or support them 48m10s.
• Cuban acknowledges that the Democratic party's rhetoric can be hypocritical, but he does not pay attention to it and instead focuses on moving forward 48m22s.
• Mark Cuban would have liked to see Donald Trump debate and possibly a speedrun primary, but ultimately, he wanted the best person to beat Trump once he became the candidate 48m39s.
• Cuban's evaluation of the Trump presidency includes both positives and negatives: the positives are the tax cuts and Operation Warp Speed, while the negatives include continuing the war in Yemen 49m3s.

Biden's performance as President: what he got right and wrong 49m18s

• The handling of the border by the Biden administration was considered horrific, with the door being opened too wide, allowing too many people to enter and creating cascade problems 49m40s.
• The administration's initial approach was likely taken for humanitarian reasons, but it ultimately led to issues, including an increase in the number of people coming through the border 50m6s.
• In June, President Biden signed an executive order that made it permanent, changing the option to just set foot on American soil and be eligible for an Asylum hearing, which is no longer possible 50m29s.
• To her credit, Vice President Harris worked with the head of the Mexican government to reduce the flow of people to the border, resulting in the number of encounters at the border being about the same as before the pandemic under the Trump administration 50m46s.
• The current problem is dealing with the large number of non-citizens and illegal aliens in the country, with different approaches being proposed, including getting rid of criminals first and deporting everybody 51m17s.
• Former President Obama had a specific process in place for deportations, which resulted in over three million people being deported, and a similar approach could be beneficial in the current situation 51m48s.
• The approach to deportations and the Asylum system is crucial, with Vice President Harris supporting a bipartisan immigration bill that aims to reduce the time to adjudicate Asylum to 90 days, which could help get control of the situation 52m32s.
• The spending was considered bad, with overspending being a major issue, and the infrastructure bill and Broadband bill were seen as good, despite mainstream media criticism that $42 billion was spent on broadband with little result 53m0s.
• The reality is that the money for broadband went to the states, which could have chosen to buy from companies like Starlink if they wanted to 53m21s.
• The electric vehicle (EV) charger rollout was considered a cluster, with no way around it, and was an example of pork barrel spending that was unaccountable 53m31s.
• The approach to healthcare, particularly the mergers of companies like Albertsons and Kroger, was seen as too much, and the focus on breaking up companies like Google and Facebook was considered misguided 53m45s.
• The most important technological perspective in the country today is winning in artificial intelligence (AI), which will impact everything militarily and economically, and breaking up companies like Google and Facebook would diminish the ability to compete globally with AI 53m57s.
• The approach of Lina Khan, the head of the Federal Trade Commission (FTC), to breaking up companies was seen as wrong, but her actions against Pharmacy Benefit Managers (PBMs) were considered good, as PBMs were seen as ripping off companies and increasing the cost of medications 54m19s.
• The attempt to get rid of the filibuster was seen as a mistake, as it could lead to cascading problems, and the spending was considered too much 54m45s.
• The positives of the current administration include changing the tone of the country, supporting workers, and removing uncertainty and unpredictability, which was seen as a huge positive for businesses 55m2s.

Should Kamala share blame for Biden's failures? 55m45s

• The discussion revolves around the presidency and the track record of Donald Trump, with the idea that he gets credit for the good things and is held responsible for the bad things, and whether this same principle should be applied to Kamala Harris. 55m46s
• The concept of "Trumpnesia" is mentioned, where it is presumed that everything was good under Donald Trump's presidency, and the importance of giving credit for the good things and responsibility for the bad things is questioned. 56m6s
• The idea of a boss-employee relationship is used as an analogy to explain that even if an employee does something well, the boss is still ultimately responsible for the outcome. 56m43s
• The topic of the border is discussed, with Mark Cuban mentioning that Kamala Harris' job was to go to Central America and talk to the heads of countries to reduce the reasons why people were leaving their countries to go to the United States. 57m26s
• Conspiracy theories surrounding the opening of the border are mentioned, including the idea that it is to increase the number of Democratic voters, but also the possibility that it could lead to votes for the Republican party due to the influx of working-class individuals. 57m41s
• An economic theory is also discussed, suggesting that the influx of low-cost workers could have a deflationary effect and a stimulatory effect on the economy, but Mark Cuban expresses skepticism about this idea. 57m59s
• The issue of executive authority is raised, with Mark Cuban stating that he does not think the executive branch should be able to unilaterally determine who comes into the country without following laws, and that this decision should be made by Congress. 58m40s
• The discussion revolves around Kamala Harris's stance on border control, with claims that she initially opposed a border wall but later changed her position as Vice President under Joe Biden 59m2s.
• It is argued that Harris was on board with Biden's agenda, but her past statements suggest she may have disagreed with his policies, particularly regarding border control 59m40s.
• Harris's past statements are cited, including her description of Trump's border wall as "un-American" and "medieval," as well as her comparison of ICE to the KKK 1h0m15s.
• The conversation highlights the contrast between Harris's past rhetoric and her current stance on border control, with some suggesting that her change in position is an "election year conversion" 1h0m6s.
• The discussion also touches on the Biden-Harris administration's handling of border control, with claims that they downplayed the issue for three years despite evidence of an "open festering wound" at the border 1h1m20s.
• The topic of misinformation is raised, with some pointing out that videos shared on Fox News were often from 10 years ago, while others argue that the administration's denial of a border crisis was misleading 1h1m45s.
• The conversation references the large number of migrants who have entered the country during the Biden-Harris administration, with estimates suggesting over 10 million recorded crossings, and potentially many more unrecorded 1h1m57s.
• The repeal of Trump's executive orders on border control is cited as a possible reason for the surge in migration, although this claim is disputed 1h2m22s.
• Kamala Harris changed her stance on immigration policies, including the Trump administration's "remain in Mexico" policy and the definition of asylum, which now allows those who claim economic hardship to qualify for asylum 1h2m28s.
• JD Vance initially called Donald Trump "Hitler" in private communications in 2016 but later changed his mind and explained why he did so, which is seen as acceptable 1h3m8s.
• Kamala Harris's change of heart on immigration policies is questioned, and it is pointed out that she has not explained why she changed her mind, unlike JD Vance 1h4m41s.
• The media is criticized for not asking Kamala Harris tough questions, such as when she changed her mind on immigration policies and why she supported Joe Biden despite disagreeing with his policies 1h4m45s.
• Kamala Harris's role in the Biden administration, particularly her involvement in border policies, is questioned, and it is asked why she volunteered for the role if she disagreed with Biden's policies 1h5m11s.
• The importance of holding politicians accountable for their actions and policies is emphasized, and it is suggested that the media should ask tougher questions to put politicians on the defensive 1h5m26s.
• The conversation is framed as a business, where politicians' actions and policies should be scrutinized, and they should be held accountable for their decisions 1h5m39s.
• The business of politics is about getting votes and winning elections, and a politician's strategy can change over time to achieve this goal 1h5m41s.
• A comparison is made between Joe Biden and New Coke, suggesting that Biden's original approach failed, but a new approach, possibly with the help of Kamala Harris, has improved his standing in polls 1h5m46s.
• Kamala Harris initially had no favorable ratings and was behind in polls, but her current strategy seems to be working as she is now either even, ahead, or slightly behind in every single poll 1h6m0s.
• It is suggested that Kamala Harris is saying whatever it takes to get elected, but it is also mentioned that she has stated her true beliefs in the past, such as not believing the border was a problem and thinking the border wall was un-American and medieval 1h6m23s.
• Harris has also expressed her belief that ICE needed to be abolished, and it is questioned whether she still holds these views or if she has changed her stance without explanation 1h6m37s.
• It is argued that the American people are entitled to know if Harris has changed her beliefs and why, and that the media should be asking her these questions, but so far, they have not 1h6m46s.

International conflict, national debt, crypto regulation 1h7m1s

• Mark Cuban is pro-Israel and anti-Hamas, considering Hamas to be terrorists, and wants to see Israel succeed with the support of the United States, but believes that Israel's approach to Gaza was too blunt, whereas their approach to Heala was correct 1h7m42s.
• Cuban does not want to see American blood spilled in Ukraine and thinks it would be better to spend money rather than put soldiers in harm's way, as long as there is a NATO 1h8m19s.
• The United States' federal debt jumped by $24 billion on the first day of the new fiscal year, now standing at $35.7 trillion, with 10 trillion of the outstanding debt coming up for refinance at around 4% interest, adding $300 billion in new interest expense 1h9m9s.
• The Biden Administration has proposed a $7.2 trillion budget for next year, which will likely lead to another $2 trillion of deficit spending, potentially resulting in $40 trillion of federal debt by the end of 2025 1h9m37s.
• The interest expense on the outstanding debt could reach $1.6 trillion per year, effectively eclipsing the entire federal budget and leaving no room to maneuver for policy demands 1h9m56s.
• Mark Cuban does not know the Harris campaign's stance on deficit spending and debt, but believes that raising taxes and not cutting spending would not make a dent in the challenge ahead without driving a massive recession 1h10m19s.
• Conversations have been had regarding the deficit being a problem, and it is acknowledged that the proposed Biden budget will not be implemented due to differences in tax rates, including a 28% tax rate and no unrealized capital gains tax 1h10m50s.
• There is a limit to raising taxes, and a point of diminishing returns is recognized, with the understanding that increasing taxes beyond a certain point will not generate more revenue 1h11m18s.
• The reason for not publicly stating certain views is that the 1% of high-information voters already understand the issues, while the 99% are more concerned with hearing about topics that directly affect them 1h11m30s.
• To reduce the deficit, there are only a couple of options: getting inflation under control to reduce interest rates, or increasing efficiency in government processes 1h11m45s.
• Inflation control is currently happening, and if interest rates go below 4%, it could save a significant amount of money, potentially up to $1.6 trillion 1h11m56s.
• Efficiency is an important element, and there are plans to reduce friction in government processes, such as integrating artificial intelligence to optimize processes and reduce the need for hiring more people 1h12m19s.
• The goal is not to cut a large number of jobs but to implement technology to become more efficient and provide more value to citizens at a lower cost 1h12m41s.
• Technology is seen as the ultimate driver of success, and there is support for new technologies, including blockchain and AI, which are key to a dominant military and a growing economy 1h13m1s.
• The focus is on growing the economy rather than just slashing and burning, and there are ways to achieve this without increasing spending 1h13m27s.
• The idea of bringing in someone like Elon Musk to fix inefficiencies across the federal government has been discussed, but it is unclear what specific actions would be taken 1h13m39s.
• Implementing a recession by slashing and burning contracts would not work, as it would lead to the United States violating contracts with small and medium-sized businesses, resulting in widespread unemployment 1h14m1s.
• Introducing technology could be a way to improve efficiency, and Kamala Harris understands the impact of technology and has people around her who are knowledgeable in the field 1h14m28s.
• A problemsolving approach, rather than an ideological one, is necessary to address specific problems and apply technology to solve them 1h14m51s.
• Mark Cuban expressed interest in running the SEC in a potential Harris Administration, but later revealed he was just trolling Gary Gensler 1h15m12s.
• Mark Cuban is supporting John Deaton, a Republican running against Elizabeth Warren in the Massachusetts Senate race, due to Deaton's positive background and character, as well as his pro-crypto stance 1h15m47s.
• Elizabeth Warren's position on crypto is that it is used by bad nation-states to fund their operations, and she wants to throw out the entire concept, rather than implementing a blacklist to prevent illicit activities 1h16m5s.
• Mark Cuban believes that John Deaton would be better for the country and the citizens of Massachusetts than Elizabeth Warren 1h16m42s.
• Common sense crypto regulation would involve balancing accredited investors with non-sophisticated investors, to prevent people from being taken advantage of 1h16m49s.
• Mark Cuban has a company called Lazy.com, which displays NFTs, and he explored the possibility of releasing a token, taking steps to ensure compliance with regulations 1h17m17s.
• Companies with low revenue struggle to afford the costs of complying with Securities and Exchange Commission (SEC) regulations, making it difficult for them to release tokens due to the complexity and expense of the process 1h17m20s.
• The SEC's online forms for registration are not suitable for companies trying to release tokens, as the only available category is "other," which does not provide a clear path for token registration 1h17m44s.
• The SEC's approach to regulation, led by Gary Gensler, is through litigation, where they sue companies first and then establish rules based on the outcome, rather than providing clear guidelines beforehand 1h19m2s.
• A more common-sense approach would be to establish an accreditation test or sophisticated investor test, similar to a driver's license, to ensure investors understand the risks involved in investing in tokens 1h19m20s.
• The SEC should provide clear "bright line" regulations, such as requiring 95% collateral and 95% of assets to be stored in cold storage, as seen in Japan's regulations, to prevent companies like FTX from failing 1h19m57s.
• The current regulatory approach is a problem, and even lawyers like Kamala Harris acknowledge the issue with regulation through litigation, and have mentioned plans to address it 1h20m32s.
• According to Senate sources, Kamala Harris was considering Gary Gensler for the position of Treasury Secretary. 1h20m49s
• Mark Cuban was informed by people close to Kamala Harris that no one had anything positive to say about Gary Gensler. 1h21m11s
• Gary Gensler's role is attributed to his close alliance with Elizabeth Warren, who has been extremely influential during the Biden Administration. 1h21m21s

General sense of Kamala Harris, why she's been avoiding adversarial interviews, why Sacks supports Trump 1h21m33s

• KLA is described as open-minded, smart, and someone who does her work, digs in, and learns, with a strong sense of ethics and honesty, and a desire to bring the country to the middle 1h21m35s.
• She has moved to the middle from being far left, recognizing that her previous stance might have been great for California but not for solving the problems of the United States 1h21m52s.
• KLA is willing to take ideas from Independents and Republicans, and has given speeches stating she doesn't care where the ideas come from, as long as they help solve the country's problems 1h22m12s.
• She has been criticized for not doing interviews with unfriendly or challenging folks, but it's suggested that she understands the assignment is to win the election and reach the most number of people 1h22m45s.
• KLA's focus is on changing the minds of people who attend rallies and are passionate, rather than the 1% of high-information voters 1h22m55s.
• She has a long windup when answering questions, which can make interviews difficult, but her answers are legitimate once she gets to the point 1h23m13s.
• KLA's background, being born to a middle-class family, is not seen as particularly relevant to her ability to solve problems 1h23m35s.
• In comparison, Donald Trump has an eternal windup and often speaks gibberish, but at least he speaks extemporaneously and doesn't rely on a teleprompter 1h24m7s.
• Trump's speeches often lack substance, and he has been known to diminish others, such as Jimmy Carter, which raises questions about his character 1h24m41s.
• Builders under KLA Harris are being forced to build apartments with no windows. 1h24m58s
• The speaker believes that if you listen to what Trump says without taking it out of context, a lot of what he says makes sense. 1h25m11s
• The speaker supports Trump, citing his consistency on the issue of border security and the need for a wall. 1h25m26s
• The speaker thinks Trump has credibility on the issue of border security, unlike Democrats who have fought him on it for the last eight years. 1h25m48s
• The speaker believes Trump did not start any new foreign wars during his presidency. 1h26m4s
• The speaker argues that Joe Biden provoked Putin to invade Ukraine by trying to convert Ukraine into a giant NATO base, which was a red line for the Russians. 1h26m27s
• The speaker claims that the US had the chance to end the war in Ukraine in its first month with a deal at Istanbul, but the Biden Administration shot it down. 1h27m0s
• The speaker is concerned that the US has significantly depleted its stockpiles of weapons and artillery ammunition in Ukraine, which could affect Israel's security. 1h27m25s
• The speaker believes that Israel gets older artillery shells, such as the 155mm M109 Paladin, while the US sends its old equipment to Ukraine. 1h27m41s
• The speaker thinks that Zelenskyy could have agreed to the deal in Istanbul if the US had supported it, but instead, the US encouraged him to fight and blocked the deal. 1h28m8s
• The US is not allowing Ukraine to join NATO, with the Biden administration rejecting Ukraine's "Victory plan" which requested immediate NATO membership to fight on their behalf 1h28m26s.
• The Victory plan was proposed by Ukraine's President Zalinsky during his recent visit to the US 1h28m36s.
• Mark Cuban gives credit to the Biden administration for rejecting the plan 1h28m46s.
• Mark Cuban mentions that people who work for him do what he says, and that those who start their own companies, like Facebook, have different opinions 1h29m1s.
• JD Vance is unlikely to go against Donald Trump if he wins, given his abundant record of aligning with Trump 1h29m20s.
• Kamala Harris, as a senator, was rated the most liberal member of the Senate, and her policies are often aligned with those of Joe Biden 1h29m27s.
• Mark Cuban argues that Harris's policies are not distinct from Biden's, and that she is often given ownership of the Biden administration's policies 1h30m10s.
• Mark Cuban criticizes the tendency to explain away Donald Trump's statements, while scrutinizing Kamala Harris's statements 1h30m25s.
• Eric Adams, the mayor of New York, proposed "wind bedrooms" as a way to incentivize more apartment construction and address the housing crisis 1h30m50s.
• Mark Cuban defends Donald Trump's cognitive abilities, stating that he is "very sharp" based on personal experience 1h31m36s.

Selling a majority of his Mavericks stake, changing business landscape of the NBA, what he's working on at Cost Plus Drugs 1h31m47s

• Mark Cuban sold three-quarters of the Dallas Mavericks, but still owns 27.7% of the team, due to the need for other sources of revenue to sustain growth and compete with the new collective bargaining agreement, and to alleviate pressure on his children who are now 15, 18, and 21 years old 1h31m52s.
• Cuban believes that team valuations have not peaked yet, citing the potential for building a large casino and hotel complex in Dallas, which could increase the team's valuation to $20 billion 1h33m12s.
• Mark Cuban bought the Mavericks for under $300 million and sold three-quarters of the team for $3.5 billion, with the remaining 27% potentially worth $5.4 billion if the team's valuation reaches $20 billion 1h33m33s.
• Cuban initially bought the Mavericks in 2000 for fun, but it turned out to be a great business decision, with the team experiencing a 15-year streak of not having a losing season and winning 50 games in a row for 10 years in a row 1h33m48s.
• The NBA's salary cap, which is a reflection of the league's total revenues, went down in multiple years, allowing Cuban to buy first-round picks and players from other teams that couldn't afford to run their teams, giving the Mavericks a competitive advantage 1h34m15s.
• The growth of cable and satellite subscriptions, which reached 130 million people, led to increased competition for content, resulting in higher revenue for the NBA and its teams 1h34m51s.
• Mark Cuban recalls a Board of Governor's meeting where he pointed out that TBS had signed a deal to pay $1 billion per episode for repeats of Seinfeld, highlighting the potential value of NBA games 1h35m18s.
• Mark Cuban's company, Cost Plus Drugs, is working to disrupt the health industry by offering affordable generic medications, with prices that are often significantly lower than those found at traditional pharmacies, such as CVS 1h36m14s.
• Cuban explains that his company's business model involves marking up the actual cost of the medication by 15%, and then adding a $5 pharmacy fee and $5 shipping and handling fee, resulting in prices that are often a fraction of what traditional pharmacies charge 1h37m3s.
• For example, a 90-day supply of the generic version of the medication Tadil can be purchased from Cost Plus Drugs for around $9.90, plus shipping and handling, which is significantly cheaper than what traditional pharmacies charge 1h37m22s.
• Cuban also highlights the problem of opaque pricing in the pharmaceutical industry, citing the example of specialty generics, which are often priced higher simply because they were traditionally more expensive, rather than due to any actual difference in the medication itself 1h38m2s.
• He notes that his company's transparent pricing model has already started to change the industry, with some medications seeing significant price drops as the company's costs decrease, and these savings are then passed on to the consumer 1h38m52s.
• Cuban's company has already made a significant impact, with some medications seeing price drops from thousands of dollars per quarter to just $20 per month, and he believes that this is just the beginning of a larger shift in the industry 1h38m49s.
• Many Pharmacy Benefit Managers (PBMs) make a significant portion of their business from corporate clients and self-insured companies, creating formularies that determine the prices of available drugs and rebates from manufacturers, but often do not pass on 100% of the rebates to clients, instead creating subsidiaries to skim off a portion of the rebates 1h39m14s.
• CEOs often do not know their healthcare costs, and auditing PBM contracts can reveal that PBMs are not passing on the full rebates, and may resist adding cost-plus drugs to pharmacy supply contracts because it would disrupt their industry 1h39m55s.
• The goal is to disrupt the PBM industry by offering lower prices, and the plan is to take business away from traditional legacy companies, with a path to growth that is expected to be a "hockey stick" double or triple increase 1h41m1s.
• The motivation to go after PBMs came from an email from partner and co-founder Dr. Alex Oshansky, who wanted to create a compounding pharmacy to make drugs that were in short supply, and further research revealed that the industry was opaque, with contracts restricting discussion of prices 1h41m23s.
• The creation of a full price list on the website cplusdrugs.com, which is updated every week, has been a key factor in disrupting the industry, and has allowed for the lowering of prices every weekday for over a year 1h42m21s.
• The company is currently losing money, largely due to the cost of building a robotics-driven factory to manufacture sterile injectables, but the goal is to be an alternative to price gouging in the pharmacy industry 1h40m27s.
• The company is using its robotics to manufacture sterile water and other essential items, such as during a hurricane, to provide them at a reasonable price 1h40m36s.
• A price list for a drug has been made available, allowing companies to compare prices and determine approximately what they are paying, as their Pharmacy Benefit Manager (PBM) does not disclose the exact amount 1h42m37s.
• A suggestion was made to make the price list a nonprofit, which could later be converted into a for-profit and taken public after six or seven years 1h42m48s.
• The price list was used by research institutions such as Harvard Medical and Vanderbilt to compare prices with what Medicare was paying for the same drugs 1h43m12s.
• The Centers for Medicare and Medicaid Services (CMS) is now empowered to negotiate prices, and it is suggested that they work with the price list as an example to increase efficiency and reduce costs 1h43m27s.
• CMS is starting to work with the price list, and conversations have been had with their team about reducing out-of-pocket costs and dealing with inflation 1h43m43s.
• Requiring transparency in all contracts signed by anyone in terms of pricing could lead to a 30-40% decrease in prices across the board, reducing out-of-pocket spending and government spending 1h44m9s.
• This approach is seen as beneficial for everyone, and conversations have been had with both Democrats and Republicans about its potential 1h44m31s.
• A similar conversation was had at the White House, but it did not resonate at the time 1h44m39s.

Thoughts on AI, what's next for him 1h44m50s

• Mark Cuban has invested in AI technology, specifically in Grok, and believes that "picks and shovels" are important in the development of new technologies 1h45m2s.
• Cuban thinks that the current AI trend is similar to a Gold Rush, where everyone is calling everything AI, but agents will eventually become just a feature, not a product 1h45m20s.
• He is hesitant to invest in foundational models due to their high cost and uncertainty about who the winners will be, but acknowledges that everything that happens will be a derivative of them 1h45m44s.
• Cuban predicts that there will be tens of millions of models in the future, and everyone will have a model, but it's unclear who will host those models and win in the market 1h46m9s.
• He believes that the history of technology has always shown a race to be the winner for foundational technologies, and it's okay to wait and see how things play out 1h46m30s.
• Cuban disagrees with the idea of Universal Basic Income as a solution to job displacement caused by AI, instead thinking that IP will become more valuable and create new opportunities 1h46m56s.
• He thinks that access to information and IP will be crucial for training models, and that companies will be willing to pay for high-quality IP, such as healthcare information 1h47m7s.
• Cuban believes that the next 10-15 years will be about figuring out how to implement and use IP, and that new opportunities will arise from this 1h47m55s.
• Mark Cuban's ultimate mission is to make a positive impact, and he believes that his work with Cost Plus Drugs is a step in that direction, as it aims to save people money on prescription medications 1h48m10s.
• Cuban has been involved in various pursuits, including a reality show, owning the Mavericks, and helping people with Cost Plus Drugs, which has led some to speculate that he might run for president 1h48m31s.
• However, Cuban's family is opposed to the idea of him running for president, and he acknowledges that it would be challenging for them to have a normal life if he were to pursue politics 1h49m13s.
• Cuban believes that if he were to run for president, he would have to do so as a Republican, as Democrats tend to dislike billionaires, citing the example of Michael Bloomberg's presidential campaign 1h49m23s.
• He also thinks that the traditional concept of political parties no longer exists, and that they have become more like fundraising vehicles with set procedures, citing the examples of Donald Trump and Kamala Harris 1h49m37s.
• Cuban is optimistic about the Mavericks' chances this year, particularly with the trade they made, and thinks that they have a shot at competing with Boston 1h50m25s.
• He also appreciates the opportunity to engage in discussions and debates, even when he disagrees with others, and values the ability to have fun and not take things personally 1h51m6s.
• The conversation is about to shift topics, with the possibility of discussing Elon, and Jacob is mentioned as someone who can still be asked a question about the topic. 1h51m30s
• The speaker mentions that two of their best friends over the last 25 years are about to be discussed. 1h51m36s

Relationship with Elon, re-evaluating the Twitter deal, OpenAI's new fundraise 1h51m37s

• Mark Cuban is a huge fan of Elon Musk's accomplishments as an entrepreneur, but believes Musk is a troll on Twitter who deserves a foil to troll back, making it easy and fun to respond to him 1h51m49s.
• Cuban thinks Musk's underlying principle of radically changing Twitter to an "anything goes" platform is driven by a fear of losing users, particularly within the conservative community who are more active on social media 1h52m26s.
• Cuban believes Musk connected with the conservative community on the free speech issue because they are more active and engaged on social media, and Musk recognized this as a fundamental underpinning of his platform 1h52m57s.
• Cuban thinks Musk's limits on free speech are obvious, as it's his platform and he decides what content is shown, and Cuban wishes Musk would call him to help with revenue and other issues 1h53m12s.
• Cuban has a theory that Musk is not anti-immigration, but rather anti-illegal immigration, and believes that by diminishing the number of illegal immigrants, Musk thinks it will improve the standing of legal immigrants, including himself 1h53m26s.
• Cuban disagrees with the idea that Musk bought Twitter to unlock it as a free speech platform, instead believing that Musk took other people's money to pursue this goal, which has led to significant financial losses 1h54m39s.
• Cuban thinks Musk knew he would face backlash from advertisers, but still chose to take over Twitter and make operational improvements, and believes that advertisers have the right to associate with whoever they want, including exercising their own free speech 1h55m22s.
• Mark Cuban believes that Elon Musk's purchase of Twitter was not solely for the purpose of promoting free speech, as he thinks Musk underestimated the depth of user behavior in exercising their free speech, and the resulting backlash from advertisers 1h56m43s.
• Cuban has no problem with free speech and has always said that people should be allowed to express themselves, even if it means tolerating hate speech and anti-Semitic tropes, which he personally experiences 1h55m48s.
• The trade-off for allowing free speech on Twitter is that advertisers don't want to be associated with the platform, which has no upside for them, and this is a problem for the business model 1h56m17s.
• Cuban thinks that Musk's decision to open up Twitter as a free speech platform was not just about free speech, but also about his own personal principles, which have cost him money 1h58m37s.
• The left immediately started boycotting Musk before he even changed any policies on Twitter, which Cuban thinks is evidence that Musk's intentions were not entirely pure 1h57m5s.
• Multiple factors are at play in the situation, including the fact that advertisers don't want to be associated with spicy content, and that Twitter is a smaller platform with less scale, making it easier for advertisers to choose other options 1h57m26s.
• Historically, Twitter will be looked at as a place that was once controlled and clean but became chaotic, and ultimately the one place where at scale you cannot be cancelled 1h57m54s.
• The concept of cancellation is closely tied to Twitter, where people could be destroyed for saying something slightly off, but now that cancel culture has been gotten rid of, people can say what they believe without fear of retribution 1h58m0s.
• Elon Musk's decision to promote free speech on Twitter will be looked at as a beautiful thing that he gave to society as a gift, but also as a challenged business that lost its advertising base 1h58m22s.
• Mark Cuban discusses the recent news about Open AI, which raised $6 billion at a $150 billion valuation, and how the company has shifted from a nonprofit to a for-profit model, with its CEO Sam Altman initially stating he wouldn't take compensation but now receiving it 1h59m12s.
• Cuban expresses his disapproval of Open AI's new policy of not allowing investors to invest in other AI companies, calling it a sharp move from a philanthropic nonprofit to a for-profit company 1h59m35s.
• He praises Elon Musk for his willingness to go all-in on his ventures, citing his initial investment in Tesla and other companies, but notes that Musk's approach to Twitter was different 2h0m11s.
• Cuban states that he wouldn't do business with people like those at Open AI, who seem to be focused on the next big thing, and mentions that one of his funds initially invested in the company but he chose not to 2h0m46s.
• He believes that Open AI's restrictive policy towards investors is a sign of fear and notes that the company's success is not guaranteed, citing the quality of other AI models like Gemini and Google's Notebook 2h1m21s.
• Cuban views Open AI's actions as a reflection of Sam Altman's personality and notes that the departure of many co-founders is a red flag, with reportedly 40 out of 44 original employees leaving the company 2h1m50s.
• He also mentions that Open AI is facing significant competition in the AI market and is currently losing 2h2m20s.
• Companies like Google, Microsoft, Facebook, Apple, and Amazon tend to react aggressively when they feel cornered, often using their financial resources to their advantage, and have a history of coming out on top in such situations 2h2m41s.
• The success of an upstart company can be threatened when larger companies like Facebook notice its growth and decide to take action, as seen in the case of Snapchat 2h3m14s.
• When a new app gains a large user base, around 300-500 million users, and appears on lists alongside established apps, larger companies may feel threatened and react aggressively 2h3m30s.
• Larger companies may view the growth of new apps as an existential risk and take drastic measures to counter them, as seen in Microsoft's purchase of Activision Blizzard 2h3m48s.
• The concept of Moore's Law, which states that the price-performance curve of technology always improves, no longer applies in the same way, making it challenging for companies like Tesla to predict what they need to do next to achieve their goals 2h4m2s.
• Mark Cuban owns a Tesla with Full Self-Driving (FSD) capabilities but has stopped using it due to safety concerns, as the technology is not yet advanced enough to handle unforeseen situations 2h4m27s.
• Cuban compares the limitations of FSD to the ability of his four-year-old mini Australian Shepherd to navigate risky situations without prior training, highlighting the need for FSD to improve its ability to handle adversarial issues 2h4m52s.