Mark Cuban’s Fireside Chat You Could Hear a Pin-Drop

By Robin Austin

Mark Cuban is most known for being the owner of the NBA’s Dallas Mavericks and lately for his participation in the “hit” ABC reality show Shark Tank. He is a serial entrepreneur as Chairman of the Board for AXS TV and co-owner of 2929 Entertainment. In 2011, Cuban wrote an e-book, How to Win at the Sport of Business, in which he explains his amazing journey and his thoughts and experiences in business and sports.

 As a Key-note speaker at the 17th annual American Society of Industrial Security (ASIS) conference, Mark Cuban shared his thoughts on topics from entrepreneurship, as a member of Shark Tank, to cyber security and the safety and security of the Dallas Mavericks and their fans. When asked how he selects who he does business with and the process he follows, he mentioned that by talking to possible buyers he gains a grasp of the product market and criteria for discernment. He asks everyone including his neighbors and friends about their buying habits. Being able to project ahead of the curve toward future buying tendencies and working with a possible prototype is important too. Above all though, quick return is the most important. Accurately predicting payback period and the market acceptability term will predict success. He said, “Don’t underestimate nice. Nice is way undervalued these days.” His first rule is he chooses to work with nice people. His second rule is to find someone who will “reduce your stress.” Then following is industry and product knowledge and “going to bat for your customers.” “The future jobs will be held by people with Liberal Arts and Math degrees because knowledge transference through Artificial Intelligence (AI) will be in demand.” Application development is language and numbers. “Any problem created by math can be solved by Math,” he explained.

 When it came to attracting and keeping people engaged these days he laughed and said that many of the young people today are missing out on the experience of sports. The baby boomers are still loyal and understand the game but not so much the younger sect. “We are in the business of creating experiences and are part of people’s families.” He has received numerous emotionally driven letters from parents of children with life-threatening diseases about the special time their child experienced. The experience brought their family closer together and was an emotional one. What a young person remembers most about the game is the joke that a friend told or the great time they had with their parents. They don’t remember the final score, the best “dunk” or the most exciting play. Their understanding of the game, how it is played or the rules escapes many young people today. He described a child playing T-ball, swinging at the ball, hitting the ball yet standing there looking at the ball on the ground. The child had to be told to run.

 Mark Cuban is one executive paying attention to cyber security and evaluating possible new technologies for health, safety and security as part of the renovations at the American Airline Center. Balancing the protection of the perimeter using new technologies and the entertaining experience for the Maverick fans is complicated. Working proactively with law-enforcement and installing new technologies for walk-ways and door-ways are on the table as well as new lighting that increases energy, improved ventilation, and psychologically pleasing colors. Facial recognition has been added to the locker room for increased security and to create a more personal environment. For improved health and recovery, Cuban has included a hydrotherapy area and dehumidifier. Each locker will have personal amenities including a tablet dock complete with power, television screen, a lockable safe and a refrigerated cup holder just to name a few. Cuban is working closely with companies like Ticketmaster to ensure data protection for online purchases. Internally he continues to improve his network security as well.

 When asked what was on his bucket list both professionally and personally, he focused on his disappointment in the US losing ground as the top country in technology. Professionally as a company executive, “The US should be the best in AI and Robotics and it should be our core competency and it isn’t. AI is as important to companies as cash flow.” First and foremost though my dream is to have the Mavericks set a record for championships. Personally he said, “Being a good dad is very important; having my kids healthy without behaving advantaged,” is what he thinks about daily.

 With Donald Trump being elected President and the ongoing “buzz” of others like him running for the US Presidency, he was asked about the likelihood of him pursuing this as well. He said that it has crossed his mind but not seriously. “Right now, he said 90% no and 10% maybe.” There are lots of organizations offering him all sorts of honors that he won’t accept. He wants his legacy to be real, humbling and with the knowledge he was a good person who left the world a better place. He is having fun and wants to continue to enjoy his life with his family and thinks everyone should do the same.