"Mark Cuban: LIVE in Chicago"

21:36And was this based on, on, on something that you studied? Did you study computers or business or anything? No, no. I like cheated in my computer class in Indiana. Hoosiers, baby. Wait, say again, how old were you again? I was 24. 24. And how did you like, what age? Was that when you were like, wait a minute, this is kind of cool. I can buy and sell companies and all this. No, it was just like, I got fired and it was like, I had to do something. I realized I was a bad employee, but I, you know, in the nine months I was there, I learned a lot about software and not a lot of people knew much about software.

22:08So I was able to to go company to company to company, and just slowly but surely hired one person, then two person, then 10, till we got up to about 80 people. And then it got, you know, it took seven years without a vacation, so it wasn't like overnight. Sold it, bought a lifetime pass on American Airlines and partied like a rock star. Oh my God. And we will be right back. And now back to the show. Would you say that the thing that is more important to your success is your knowledge of the field or your ability to identify people that are good to work in other words your people skills or your knowledge of your profession i think it's that i really i'm a quick learner i'm a quick study right so when i go into new technologies i can pick stuff up really fast yeah and so i'm able to you say okay that's what's next right and so find an angle what's coming next how do you know that how like Because to me, it just makes sense.

23:06Like, you know, when I started Micro Solutions, instead of just buying one PC, I thought people are going to connect them together. And most people are like, no, that's not till later. And then they connected them together. That was my thing. And then wrote software for it. Taught myself to write software and built it up. And then in the mid-90s, you know, a buddy of mine came to me and said, there's got to be a way we can listen to Indiana basketball over this new thing called the internet. And I was like, okay, I'll figure it out. Yeah, and then you created audio on the internet. Audio net. It was called Audio net.

23:33it was the first streaming company on the internet. And what, because I'm very young. Is the, did the, so the internet didn't have audio at first and you kind of created that with this? No, people thought I was a moron. Yeah, there was like a player. I remember there was like an audio player you could download, right? In order to listen, in order to stream back in the early days, right, you had to have a PC with a modem, download this thing called a TCP IP client, download a client software from your ISP, then download another real an audio player right and then you had to go to a website and click on a file and that file would open up and then you hope it would play but then you're all set but then you're all set right but we were the first to do it and so but like one of our best one of the things that helped us the most like if you were anywhere outside the city of chicago the only way to listen to the cubs games during the afternoon was on audio net right so we crushed it because Cubs fans all over the world would go there, click on this thing, and go through all the hassle.

24:32You know? That's amazing. But that started the whole streaming industry, and then that just grew from. Did you know, like, so you're doing, you're creating these businesses. Did you have an idea when you were, whatever, 24 and back then that you, did you have this dream? I'm going to be a fucking business titan. I'm going to do this. Did you, was that a possibility? No, no. So, you know, like during Microsolutions, I remember vividly finally getting to bed, laying there hungover going, oh, my God, we've been in business three months. Oh, my God, we've been in business four months. Oh, my God, we've been in business five months, right?

25:03Just being terrified that it wouldn't last. So it was just piece by piece. Just grind. You just grind. What did you hope you would become? What did you study in school? I took a business. Right. So you just hope to find a business. I knew I'd be an entrepreneur. Right. Because I'd start a business my entire life. But where did that come from? Like, as a kid, were your parents around? No. See, I think what's fascinating about you and people like you is, like, we're all on the outside going, how did this guy do that? Like, we're all like, is there steps I could take to maybe be like Mark Cuban? Like, where did I fucking go wrong?

25:34You know what I mean? Yeah, I mean... I could tell you. I mean... Opening with a masturbation story.

25:46I also want to know, like, what is that moment? You probably do, and tell us if you do, remember the moment that you were first a billionaire? Oh, fuck yeah, I remember. It's like having sex for the first time, right? Yeah, yeah. You remember every bit of it. Yeah, right? Sean? Yes. No, because Broadcast.com went public, and we had this big IPO, and the stock just kept on going up, and I knew exactly what the price had to be in order for me to become a billionaire. And so, you know, on the OPCs, you can hit F5 to refresh your Yahoo Finance. Now, F5, boom, boom, boom, boom, boom, boom, boom, boom.

26:25Kind of like Sean in the story. Boom, boom, boom, boom, boom, boom, boom. And then, and it was like right when the market opened in Dallas at 8.30. And so I'm just sitting there basically mostly naked and I did my little - At home. At home, right? By yourself. By myself. Hitting that F5. Yeah. But that's, you're just by yourself at home on your fucking home computer going, am I a billionaire? Yes, and then I did my little billionaire dance, right? It was just like, hey! What did you do? Who did you call first? No, what's that? Did you call him? No, because I knew, you know, it might only be a second, right?

26:58Right, right, right. Just like Sean's story. Oh, my God. Sean. That's good. What do you guys do? This? Yeah, okay, great. Well, I think everybody here has had the fantasy of, like, what if I won the lottery, if I became a lottery? What would be the, what's my fantasy big thing to buy? Yeah. What was it? Basketball team. Yeah, there we go. Yeah, was it really? Yeah. It wasn't like I dreamed about it. But I mean, like, what was the, like, you know, first big check, you know, maybe like it was 20 grand or like 100 grand or something like that. Well, when I sold my first company, Micro Solutions, I literally, my buddies and I went out and just got shit-faced at an old school Italian restaurant, you know, where they had the phones that they would bring to, you know?

27:39And so I was trashed. And they're like, what do you want? What do you want? I'm like, not into cars. I have a house. I want a lifetime pass on American Airlines so I can just go anywhere, anytime, anyhow. Really? And so I traveled enough that I remembered the number and I called them up and I'm like, do you guys sell lifetime passes? And they were like, yes, let me connect you to the AirPass department. I'm like, get the fuck out of here, right? And I bought one and it ended up being$250 ,000 and I got to fly me and anybody else that I wanted anywhere American Airlines flies for the rest of my life.

28:13As often as you want it. As often as I want. No way. Wait. And you still have that? I gave it to my dad, who unfortunately passed away a few years ago, and then I gave it to a friend who uses it. So it was a$250 ,000 flat fee, no more money ever for the rest of your life, and you can fly U-plus-one anywhere you want, all the time you want, until you die. First class. Do they still have that? No way they still have that. No, they got rid of them because there were a couple guys who would just... You could spend that in a year. Yeah, because I also got my American Airlines miles, right? So there would be guys who just fly back and forth just to get their miles, and that was just, like, too much.

28:46But it was a lot of fun. Where did, let's go to the Olympics. Let's go to Moscow. Let's go to Vegas. And then you got delays, and you got peanuts in the thing. Oh, great. Way to find the thing that's a bummer about it. Where did, at what point did you want to go into filmmaking, television stuff, and start your studio? That was more because of my partner, Todd. Todd and I were partners for, Todd Wagner and I were partners for, um, in broadcast.com. And he wanted to do a lot of vertically integrated stuff. And so after I sold broadcast, we also started the first all high definition TV network, HDNet.

29:25Yeah, yeah, yeah. And so, and then we bought landmark theaters. Yeah. So I started, we started HDNet and we wanted to do day and date everything, right? And this was - What is it? Day and date meeting. we released a movie on HDNet and in theaters, in landmark theaters, and we released the DVD, and we released it online. All at the same time. Right, which like now is a big deal, right, that they're trying to do with HBO Max, and so we were, we started doing that, and probably 2003, I, you know, we started doing little things. In 2003, I get an email from a guy named Alex Gibney, and he's like i've got this footage from this company called enron and i email him back oh yeah yeah and i'm i'm like do you own the exclusive rights to it yeah can you put it in a move in your documentary you want to do yeah what's the budget for this movie enron that you want to do and he goes seven or seventy thousand dollars i'm like okay let's do it 12 minutes i greenlit this movie yeah so it turns out being enron the smartest guys in the room a documentary right It gets nominated for an Academy Award.

30:28At the time, it was top 10 grossing documentary of all time. I'm thinking, this movie shit is easy, right? Yeah, this isn't going to be a money pit at all. Not at all, right? Then my partner, Todd Wagner, brings to me a deal with George Clooney. It's going to be a black and white movie about the 50s, about Roy Cohen and the McCarthy hearings, right? Good luck with that guy. Right? and it was going to be called Good Night and Good Luck. Such a good movie. Great movie. Such a good movie. It gets nominated for six Academy Awards. My second movie, I'm thinking, this shit is still easy, right? And even better yet, we had, because we got nominated, we had a party at, oh, what's the place on Hollywood?

31:14Anyways, one of the old school Italian restaurants, Dantana's. Dantana's. Yeah, right? And I'm doing a body shot off of Cindy Crawford. And I'm there going, This movie shit's great. This movie shit's great. You haven't heard of a movie we've done since, right? I mean, we've done little things. We have a company. 2929 still does some stuff. And we sold some of the other stuff. And we sold landmark theaters. And we still have Magnolia Pictures to distribute stuff. Tell me something that you thought for sure was going to succeed. And you're like, oh, God, that did not work at all. Nothing. Excellent.

31:49Wow. Excellent. Really? No. So many things. Like, what's the biggest mistake you made early on in your career that you would, like, the biggest thing you would give advice to somebody, like, watch out for this. I know you're doing great here, but really watch out for this person or this thing or this idea. Yeah, I think, you know, one of the lessons I learned is I would just hire fast, right? Because I'm a salesperson at heart. And I would just, like, okay, I'm selling myself on hiring this person. And I've learned you've got to hire slow and fire fast. So I would make a lot of mistakes in hiring that cost me money.

32:19Why? Because you'd interview too many people who, like, really want to find out the right fit? Yeah, or I would not interview enough. Right. Right? And so I would just be like, okay, come on, I'll make it work. You seem like a good person. Yeah, yeah. I would be so arrogant that I thought, okay, I can make this work no matter what. Right, right. Or like, you know, I'd be so arrogant about how much business I know. Like, I'd look at a business and go, okay, you're going to do this wrong, this wrong, this wrong. And yeah, I know Uber is going to be good. And I know you're going to do really well with Uber.

32:43But, you know, you need to give me a better valuation. And the guy's like, no. And so I missed out on Uber, you know? Really? What do you think? What would you think is your... Seems like you've really checked a lot of boxes and had a lot of success. You're not an old guy. Like, what are you thinking about would be a really significant challenge for you that actually scares you going forward? Like, right now, we're taking on the pharmacy companies. Yes, I was going to ask you about this. This is... Do you guys know... Have you heard about what he's doing? I haven't. Tell me. It's unbelievable.

33:15It's amazing. So it's called Cost Plus Drugs. And that's our time. So...

33:23costplusdrugs.com, right? And so basically what we've done, the pharmacy industry is really distorted, right? They have these things called pharmacy benefit managers that are kind of like bouncers at clubs. They want to get paid in order for the pharmaceutical companies to provide their drugs to insurance companies who then approve them for doctors. And so we said, we're going to create our own pharmacy benefit manager, but we're not going to make it convoluted. We're not going to ask for rebates like all the other ones do. And because of that, we can sell direct to consumers at our cost plus 15%.

33:52It's amazing. So give us an example of... I can't even pronounce all of it. But we'll take something... Insulin, yeah. No, we don't have insulin yet. We're working on it. Take that back. Yeah. We're working on it. But if you go to costplusdrugs.com, you can see exactly what our costs are. And so there's drugs that we'll sell for$6 that everybody else is selling for$400. That's amazing. Yeah, it's crazy. And when do you think, I just think that's incredible. Costplusdrugs.com. Now, are you doing this now? Is this a business for you? Is there a profit in here for you somewhere? So everything, we're transparent about everything.

34:27So we're not trying to make as much money as possible. It's a public benefit corporation, so it's different in what we're allowed to do too. But we reinvest, so the markup of 15%, we reinvest so that we're building a manufacturing facility in Dallas so we can push down the price of drugs. So our goal, we're starting off with 100 drugs two weeks ago, and our goal by the end of the year is to have 2 ,000 drugs. And our bigger goal is, you know, now we're so used to seeing prices of drugs go up, up, up, up, up, right? Every week or two, we want to be able to post a reduction in price of the drugs that we have, right?

34:58How are you able to access these drugs at a wholesale price, though? Because we go right to the manufacturers. Wait, really quick, just ask again, because they didn't hear it. Oh, sorry, how are you able to access these drugs at a wholesale price? We'll go to the manufacturers, or we'll make them ourselves. And the ones we go to the manufacturers, they have to sell them basically, you know, just a little bit more than they sell to everybody else. Yeah. But everybody else asks for rebates from them, which in turn jacks up the price. We don't ask for any of those rebates. We don't fuck around with the price.

35:22It is just cost plus 15%,$3 fill fee, and$5 for shipping. Have you guys thought about making any of the fun drugs? Yeah. I mean, you just have like a whole fun page, you know what I mean? Yeah, you just put it slash Molly. I'm not saying it, you know. Will you get, my husband, Scotty, he's got diabetes since he's 17 years old. It's hilarious. But whenever I introduce him, I go, this is my husband, Scotty. He's going to die from diabetes. Now, will that be on that list, insulin? So to do insulin, it's this all-convoluted thing where you've got to create something called a biosimilar. So it's a mess.

36:02It's hard. Yeah. And so we're looking at it, but it takes close to four years. Yeah. And so we're looking at starting that process. And what are some of the, how do you determine what companies you want to invest in or where you want to put your money? You know, it really depends. Like on Shark Tank, Friday nights on ABC, 8 p.m. Eastern, 7 p.m. Central. Yeah, I can't wait to get into it. That's the next thing. If we're avoiding Shark Tank, we want to get into it. You know, Shark Tank is part TV, right? So you're not making normal business decisions. But normally it's like, is it differentiated?

36:33You know, is there a reason for me to buy it? Like when we started CostPlusDrugs.com, there's no marketing. We're not spending any money on marketing or advertising because everybody wants cheaper prices for drugs. Yeah. Right? And so it really depends on what the product is. And if it's differentiated, it's something people obviously need, and the person who creates it is smart, then I typically try to invest. So you're talking to a dumbass, right, guys? Confirmed. Confirmed. So, somebody comes on Shark Tank, what they do is they pitch you an idea, and you decide whether that's a great idea, and if it's a better idea than the other two people that pitched, they get, what, funding for their idea?

37:14Yeah, basically, yeah. Hey, Mark, just as an aside, I'm so sorry, man. Yeah. You've never watched the show, has he? I watch the Dodgers, and that's it. That's okay. Now, do you obviously own a piece of that company if it takes off? If I invest in money, yes, I ask for a piece of the company. You own the whole thing? Oh, my God. Never want to own the whole thing because you want the entrepreneur, the person who started it, to be successful and make money too. What's the percentage that they get? Typically, they'll keep 80 % of it, and I'll just take it. How many people have watched Dark Tank?

37:47The rest of you can leave. Yeah. Sorry, I haven't missed an episode. So wait. Thank you. Let's get right into it because I have 800 questions. Okay, wait a minute. Just hang on one sec. All right, so. Should we go to a commercial? Let's go to a commercial. Wait. Okay, so same question about your business. What is the criteria you look for on Shark Tank when somebody comes in and pitches something? What is it? Spikeball. That's the one I fucked up on. Thank you very much. What is it? Spikeball. No, Spikeball. Spikeball. Have you ever seen kids on the beach play? Yes, yes, right. So they came on Shark Tank.

38:20They're like, Mark, we want you to be an investor. They want me to be the commissioner of their Spikeball League. I'm like, I don't want to be commissioner of the Spikeball League. Yeah. You know, so I didn't do the deal. Now, every beach, everywhere, you go, you know, down here on the beach, and that's all you see anywhere. What's spike ball? Is that, like, volleyball?

38:39Guys, I... Don't fucking do it.

38:46They're fucking booing you, dude! By the way, I don't know what it is, either. I'm very shelf - Spike ball is... Yeah, yeah, yeah. They have, like, this little trampoline-type thing. JB, there's this little trampoline thing. Oh, never mind. And then you sit around, you stand around with some friends and you hit this ball and you bounce it off the thing, right? Oh, never mind. And then you all bounce off the thing. And it's just very kind of easy. It's competitive and it's good exercise and little kids can play it. Yeah. That sounds fun, but I wouldn't hear that idea and go, that's a billion dollar idea.

39:16Well, I knew kids would like it, right? But they, you know, sometimes you just want to just invest. Yeah. You don't want to be the commissioner. Right. You know, and so. So that was, that was a, that was a part of the deal. That was part of the deal. Yeah, and I don't want to do that part of it. Yeah, you're busy. I'm busy. Yeah, but do you have a... Like, any time you join a company or invest in a company off of Shark Tank, do you then accompany yourself? Like, do people work in an office somewhere that handles that? I'm used to working in an office now, but yeah, I have people who help me. Yeah, and so...

39:43Yeah, he's got a staff, Sean. I've got a staff, Sean. You think he does it all himself? And I was going to make another joke for you first, but I'm not going to. That's fine, that's fine, that's fine. Wait, so, but when you, has there ever been a time when the cameras are over and they walk out and they're like, oh my God, I made a deal with Mark Cuban and you're done taping the show and the deal falls through or something? Oh yeah, yeah, too often. And why is that? So sometimes they'll just lie their asses off, right? Because they get nervous, right? You mean they speak? They lie, right? You know, I've got$1 million in sales.

40:18And then you go, we get to do due diligence afterwards because we know people might not quite tell the truth. And then you go to look and they have 100 ,000 in sales or 20 ,000 in sales and they hope to have a million You know where my widget cost a dollar and it cost ten dollars So yeah, there's times when it doesn't close. Do you mind if I pitch you a product right now? Let's go, okay Wait, I'm gonna do it. What do you wanna get up there? Come on. Do you will and I get us get I'm gonna do it. Um, actually, I'm gonna bring out my husband Scotty. So I do it in the truth fashion

40:51Yeah.

40:55Stand up, he's gonna be dead soon. Yeah, come closer. Don't get too attached to him. I know. I'm gonna die from diabetes. Yeah. Oh, my God. Okay. All right, so here we go. Can you guys believe that Scotty's here? Whoo! He's the best. Okay. Okay, so this isn't the true style of Shark Tank. Wait, I thought you were pitching to me. Get your ass over there. I can't because then they'll see your ass. Oh, okay. Oh, man. Okay, so here we go.

41:34Okay,

41:40shh. Shhh, shhh, shhh. Shut the fuck up! We're pitching. Okay, ready? Hey, sharks.

41:51My name is Sean. And I'm Scotty.

41:58And we're from Hollywood, California. And we're looking for$2 million for 2 % of our company, Doggy Defense. When you're loading the dishwasher, does your dog come out and clean the plates before the dishwasher does? Ours does, which gives us pause for concern. Oh, God. Oh, boy. Let me tell you a little tale. We came up with a fence barrier that goes around your dishwasher door that deters your dog from accessing the dishes. And with that defense up, our dog is no longer barking up the wrong tree. So, Sharks, don't leave your dishes in a rough state. Who wants to be the first one to join our pack?

42:57Yeah!

43:05Whoo! Okay. Sean! Yeah. Now, for the uninitiated, was that similar to the way it goes down? Oh, yeah. Otherwise, that was really weird. 100 % the way it goes. You got to watch the show. The people that come on, God bless them. They're all lovely. They're all trying hard. They're really awkward and weird. They don't know how to, you know. They've obviously been coached and written. Yeah, they practice the ball. When is there? Where's the swimming part? When do you get in the water? Right at the beginning, right? I want to hear what he thinks of the idea. Yeah, what do you think of the idea?

43:44$2 million I'm saying You're right So when you Was that US dollars? Hey So when you When you pull the dishwasher down And you're doing it And the dog comes up No I got it Shosh Yeah we get it I got it Okay I thought it was good I'm out but I think it's a perfect deal For Mr. Wonderful Okay He'll ask for a royalty Yeah royalty I love it I just wanted to hear you once say I'm out That's right Oh

44:10We'll be right back.

44:14And now, back to the show. Now, what's to stop anybody watching the show when you guys don't take something for somebody to steal Sean and Scotty's idea? Yeah, it happens all the time. Yeah. It really happens all the time. Like, if we don't make a deal, and sometimes even when we do, there'll be somebody, an investor out there watching the show. And do it quicker. And we'll just get a hold of them and say, I'll offer you more money. Oh, really? And I'm fine with that, right? It helps the entrepreneurs and it's great for them. But you're saying does anybody see the idea on TV and then steal it and make it?

44:47And then steal it, yeah. Oh, no, and then do the same thing themselves. Oh, yeah, typically not because it's hard to do, right? Look, or is there enough of a delay on airing the show that you guys can actually get your business done before? We can, yeah, we can, but it's hard to steal. I mean, look, everybody's got good ideas, right? You get that feeling in your stomach and then you go to your friends, is this a good idea? Right, right. And then you look on Google, oh, nobody's done it. Nobody tells you that it's not there for a reason. Right. But, you know, but then the hard part is actually doing it, right?

45:13Most people just don't have, you know, the gumption to go out there and actually try it and do it. What's been the most successful product to come out of Shark Tank? So there was a thing called the Comfy that Barbara Corkman did. The Comfy, the Comfy, right? Oh, was that like that blanket that you wear? Yes. Oh, yeah. Yes. People bought that? It was a knockoff of another product. It was a Snuggie. The Snuggie was like a better Snuggie, right? Wow. How is it better than the Snuggie? It was just more comfy. More comfy, okay. And so the guy comes in, and it's kind of like falling apart a little bit, but they're comfortable and everything.

45:47And Barbara offers them like$50 ,000 for 25 % of the company. And no lie, she has made just herself$37 million in companies. Oh, my God. They have sold like$400 million worth of comfies. Wow. And I say the same thing to Barbara every time I see her. fuck you why did I do that deal right I mean Barbara's the best like how many companies do you own or are invested in at any given time 200 to 250 how do you keep track of them I don't if you want to know my companies another pitch markcubin.com and you can see all of them that's how I remember my companies I go to the website Do you want to buy a podcast for a billion dollars?

46:44Think about it. So, Will, I'm going to tell you this. Think about it. Sean wanted cash. Two million dollars for 2%, right? So that's a$100 million valuation. Yes. So when we get his$100 million valuation and sell that for a billion, we'll use it to buy the podcast. There you go. Love it. Mark, when you open the paper in the morning, do you check the sports page first or the business to see the stocks? You don't watch Shark Tank, but you open a paper. I know. By the way, you're getting a real good idea of what he's all about. Granddad here spends a lot of time in slippers. No, but what's your favorite sports page?

47:23Because sometimes people follow stocks like they follow teams. No, I do the both. So I check all the sports on Bleacher Report, and then I check. There's this meme or random thing that I check, just general news and then tech memes. So I have my websites that I go through every morning. But sports first? Typically, yeah, because it takes two seconds just to check the scores. Do you enjoy any other sports other than basketball? Yeah, I like all sports. I played rugby in college, so that literally is my second sport. But I'm a fan of football and baseball and all that stuff. Sorry, would you ever want to buy a team in another sport?

47:58I looked at buying the Cubs. I looked at buying the Pirates. They wouldn't let me buy the Cubs. Why? They wouldn't let me. Major League Baseball didn't want me in. Why? Yeah, they were afraid. They were afraid. What makes you an unattractive owner to Major League Baseball? All that stuff about the referees we talked about. Oh, really? Yeah, they don't like that. Too opinionated and it's too much of an old boys club? Yeah, very much so. Yeah, I mean, they literally told me no chance. I played almost... So talk shit about them if there's no chance. Let's air it. I mean... I mean, they have their own, baseball's got their own problems.

48:31I don't even need to talk shit about them. Some things are so fucked up, it speaks for itself. What about soccer? Do you see, soccer is an incredible, what I call football.

48:44I'm a big Premier League football guy. Are you really? Yeah, love it, love it, love it. I don't, yeah, right? Which team? Liverpool is my team. Here we go. Yeah, and all right, cool it. And I love watching it, and it's growing, and it's getting even more popular in this country. And the U.S. looks like it's going to qualify probably for the World Cup, which is great, just below Canada. And whatever, I don't make the scores up. And is that something that you could see that's going to grow in this country? Soccer's growing. The biggest challenge is it's not a great TV sport. That's what I'm saying.

49:21That's what I'm saying. Right? Yeah. See? That's insane. Right? It's like... But I'll bet you could come up with a different way to shoot that sport or come up with some sort of technology to make it more interesting. No. The good thing about soccer is when you go to a game, it's amazing. Yes. Right? It's very much experiential. Kind of like hockey, right? Going to a hockey game is fun. Yeah, but it's like they score a goal. You could run to the store and come back, and it's like, oh. Yeah, but there's more to it. It's the beautiful sport. But it's faster than baseball. I mean, baseball. That's why baseball's got issues.

49:52I heard one time that they looked at all the major sports and they decided which ones were the best for watching on television on a scale. Football was the best for the amount of plays and then breaks. Right, because there's only 15 minutes of football in a game. Right. You can go take a shit, you can get something to eat, and then you come back to the next down. And they've done 50 replays and they've done whatever. And it goes all the way down. And the far end is hockey, my other passion. And I know this is a big hockey town and I'm a big Toronto Maple Leafs fan. How's that been working out?

50:24Well, you know, let's not get real, Mark. And so hockey's down there and then football, soccer's down there as well. Well, the problem is, you know, basketball, you can, basketball's problem on TV is it's 48 minutes of basketball, right? But it's great for social media because there's so many highlights. And so on TikTok, on Twitter and whatever, basketball is number one. Right. And so now what's going to happen? Everybody, we all watch a lot of our content streaming, right? And how did that start? now that you know? From you. Yeah. So my question to you is this. Now as more and more people are shedding their cable or shedding their satellite or whatever, how is that going to, what's going to happen to live sports, do you think?

51:08It's going to change a lot. It's going to change a lot. Jason, have you ever been on TikTok? No. You don't know how to do, renegade, renegade. Sean does enough TikTok for the whole house. Yeah, I don't really. but you're very popular on Tic Tac with your kids too I love doing this stuff wait go back to we're talking about watching TV in the future it's going to be the future of live sports so for us I love watching football we're us billionaires right wait did this deal go through did we just sell the podcast for stocking the doggy dishwasher company that's so interesting I watch football now.

51:52I'm really interested. I'm really into football. Sometimes I'll watch baseball, but it's kind of like watching this old house. It's just like, you know, I mean, Bob Vila always shows up. I know. Well, the new guy, Kevin, Kevin, he's great. But but baseball, basketball, you know, I went to a Lakers game once and it's it's it's actually more thrilling to watch it live. Yeah. Right. When you're there, like I can't it smells like high school and it's really cool. and it's like, right? And I'm sitting there on the sidelines with my straight friend, Steve Schenbaum, who's so funny, and he's married.

52:24Wait, do you say that about us, my straight friend, Will, and my straight friend? Yeah, all the time. Do you really? Yeah, all the time. So then, so I'm sitting there, I'm sitting there at a Lakers game, and you know when they do that, they do it at a lot of stadiums, but they play that kiss me, that's like the kiss cam, right? And people are like, Will Smith and his wife are there, and like all these, and they catch them, and they put it on me and my straight friend Steve. I'm looking up and I'm like, oh my God, we're bigger than the whole fucking building. And they're wanting us to Chris and everybody's laughing and he's panicking and I'm panicking.

52:56So I just made out with my hand. Oh boy. That's another dumb story. You were talking about your kids. Tell us, what's family life like? Is it normal? Is it crazy? Do they want to do what you do? Yeah, and do you teach them about money? And did somebody teach you about money when you were a kid? No one taught me about money. I mean, because you didn't have much, right? You just, you had to work and just do your thing. But like with my kids, obviously, my kids are 12, Jake, 15, Alyssa, and 18, Alexis. And literally, Alyssa, my 15-year-old, and I watch Will and Grace like all the time, right? That's what I think, yeah.

53:37And Ozark with Alexis. Jake, not so much. Yeah, that's okay. I'm cool. But it's scary. Check out Murderville. You got to check out Murderville. Murderville. Murderville. I just downloaded it. I just downloaded it. It's fun. I'll go sit in the audience. But now. So they're not like young entrepreneurs already? Oh, my son, Jake. Yeah. Definitely an entrepreneur. Really? Oh, my God. I'm like, Jake, I was in his room two days ago. Jake, what's that candy on his little baby refrigerator there? and why do you have that candy there? He goes, oh, I sold it to my friend at school and I'm going to make about$15.

54:20Wow. And I'm like, yeah, that's my guy. Did you see any crocheted dinosaurs in there? Oh, my God. No, but no. Okay, so here's what you need to worry. That's the age, you know. What would you tell somebody who's starting out? I'm sorry? Nothing.

54:42I think I know that story. No, I just learned about the whole sock thing about a year ago. I don't know what that is. We're not going to go. Never mind. So it doesn't matter. So what would you tell somebody like one of these young people in the audience here? They're young. They've gotten out of college. They got their first job. They've got, you know. There's nobody here. Yeah. Not true. Not true. There's that guy right there. Number one, he said. Number one. And he's got a paycheck. He did a thing. He's got$1 ,000. What does he put his money into? What does he do? All right. First, you want to learn a little bit about crypto if you have$1 ,000.

55:17Okay. So that's just for real. But you don't want to speculate, right? So I had this conversation last night with two of my Indiana friends, right? I don't understand using money to buy money. Yeah, do you have the real lowbrow knuckle-dragging explanation for crypto? Yeah, right. Because I don't get it, and I'm not smart. So, put aside the coin part of it, right? It's just a different way to create applications. Just like the early days of the internet, it didn't seem to make sense, right? When Amazon first came out, everybody would say, well, don't give them your credit card. You don't know what Amazon is going to do with your credit card, right?

55:57You can't trust that. And it was hard and people didn't understand it. Now, with crypto, there's a lot of noise, but there's different applications that you can download and buy these things called stable coins. And there's one in particular that I buy called USDC. And the thing about it is you can earn more interest on that USDC stable coin, 4%, 5%, depending on where you're at, a little bit more. And it's relatively safe, right? It's not as safe as being in the bank because there's no FDIC insurance. But I put money there and I recommended to my friend, two of my friends here that just made a little bit of money, a couple thousand dollars, that to take part of it.

56:35and go to an app, Voyager, Crypto.com, whatever it may be, and put it in there and earn your 4%. But this is what I'm saying. Why are you putting... I don't understand. You're putting your own money to buy money. This might take a minute. So is it like investing in the stock market? Is that what it is? It's not really. It's more like if you were going to do currency exchanges, right? Because it's different types of currency. But because they use them to trade, they pay higher interest rates than they do in a bank. Because you're not going to earn anything from your savings account, on your checking account or whatever, right?

57:06So, you know, and you might - And you think this has life. You think that - Yeah, 100%. So you think one day - It's not going away. One day we're not going to use - Because it is - There's a lot of junk out there, right? Just like in the early days of the internet, right? There might've been 101 shitty companies to good companies. Yeah, right. And because it's the early days still of crypto, it's going to take time for the nonsense, the noise and the dirt to find its way out. So you would recommend, what is it? USDC. USDC over like Bitcoin or something like that. Yeah, Bitcoin, like Bitcoin - I'm glad he repeated that.

57:33I almost bought a bunch of USDA steaks. Yeah, right?

57:40Mark Cuban told me to buy this steak. This steak, right? I'm not earning shit. But Bitcoin's kind of like digital gold, right? Yeah. So old people buy gold, and younger people are going to buy Bitcoin just because it makes more sense. You can't see it or touch it or anything, but it would... So when was the last time someone bought gold and they could touch it, right? Exactly, exactly. Because everything is... It's digitized anyways. Yeah, yeah. Yeah, and so Bitcoin is a store of value, and it's going to go up and down like you see it go up and down. I like Ethereum a little bit more because it has more applications, utility.

58:10It's going to go up and down. But it's not something that I'm telling people, look, just go all in. It's like the stock market, right? Yeah, just take 10 bucks or 100 bucks or something. Try it, right. That's why I like Dogecoin, right? Dogecoin is silly as hell, but this is how I introduced my son to crypto, right? This is back, we opened up a Robinhood account, and I showed him he could buy Dogecoin back when it was like a penny, right? And so we spent$7. And now it's 15 cents. And so you can buy some just to see what it's about. That's interesting. And spend five bucks. Yeah, yeah, yeah. And then get to learn it.

58:42All right, so listen. Before I let you go, because I know you've got to go. You have a personality, this huge personality, which is so intoxicating. And you seem like such a good guy. Really is. I'm so glad to meet you. Yeah, it's amazing. You seem just incredible. Thank you. Fascinating. Thanks for having me on, guys. This has been a blast. Yeah, but before you go, I want to ask you, you always seem to be, by the way, back to Shark Tank for just two seconds, you know what I love when you do? You shut people down, I love it. When people are going on and you just raise your head, just literally go, thank you for coming, thank you.

59:17Thank you, that's all, thank you. I love that. You try to be nice, give some advice, right? Good luck, that's what you say, good luck. Which is so like, get out. Which is so, yeah, it's just another way of saying, fuck you, yeah, yeah. Yeah, I love it. I didn't say that, Will did. I know I know but I love it so as someone who's who's in charge of a lot of things and a lot of businesses you you just seem to always be in control who's the one that controls you and brings you down to earth and is there somebody that can tell you you know what Mark shut the fuck up you need to get real like oh yeah my wife and kids yeah but anybody beyond your family I'll be on my family the refs the refs yeah I try to listen to every look you know I try to learn from everybody, you know?

59:57So if someone's got to tell me to like, you know, in all my businesses, there's somebody that will tell me to shut the fuck up, right? I don't mind it at all. So if I fuck up, tell me I fucked up. I don't care, right? Because - And you want to know. Yeah, I want to know and I fuck up all the time. We talked about that the other day. We were talking about this idea. It's like when you're doing that, especially amongst friends, you have to have that ability to go, please let me know because it's going to help me. And my friends are like, my high school friends, I've been friends with since, You know, I'm six years old.

1:00:26Yeah, you were saying you got a couple of old buddies here. Yeah, well, yeah. And so my college friends, they'll all tell me to shut the fuck up, right? And, you know, they don't give a fuck. Are they blown away? The guys that you grew up with in high school and college, or they're used to it by now because it's been a minute that you've been really successful. But do you guys, do you have those moments with each other where you go, can you believe this shit? All the time. Good. Really? All the time. And look, I mean, there's not a day. Have you ever invested their money for them? No. Okay. No, that's too much stress.

1:00:53Yeah, yeah. But there's not a day that doesn't go by where I'm just like, how the fuck this happened to me? We feel the same way. Yeah, right? No, we really do. We really do. Yeah, you got to. You got to. We really, truly do. We say to each other all the time, we did a show the other night. We had our buddy Bradley Cooper was on a show in Brooklyn. And we were saying we knew each other way back in the day. And we were like, this is so crazy that we get to do what we're doing in this way. It's fucking bizarre. It's insane. We're so appreciative. And if it were not for you guys, we would not be able to say that.

1:01:27I mean, it's unbelievable. Thank you. Mark, thank you for coming. I love you. Thank you for making us smarter. I learned stuff. I can't wait to watch more of Shark Tank. I love you. Thank you for being here. Great Mark Cuban! Thank you, everybody. Thank you, sir. Thank you so much for having me here. Thank you. Thanks, Val. Thank you so much for doing that. Jason, thank you so much. Thank you for doing that. Thank you, everybody. Mark Cuban!

1:01:58What is Scotty most commonly tell you to stop doing? I know. Well, we have a wonderful relationship. It's all dark humor. I grew up with dark, dark humor, and that's what we do. No, but what is the thing that he thinks you need to fix most? Worrying. Worry. Stop worrying. Yes. So while also controlling, so Sean has been doing this thing the last week, We notice every time we get in a car, like to go to the airport or go to the venue or whatever, we'll get in, professional driver, guy knows where he's going, and Sean's got his phone up. And the guy, and he's in the back seat, and Sean goes, it's 11 minutes.

1:02:38And I'm like, well, there's nothing we can do about it. I know, I just like alternative routes just in case. Anyway, so, but here's the thing. Mark Cuban is so great. I'm obsessed with Shark Tank. He was so nice to come out. Should we pool our money a little bit? Maybe, like, do something? Yeah, we should, right? Yeah, why don't we all pool our money? Yeah. Should we do, like, a group thing? I want to... Also, I like the idea of you and Scotty rehearsing your Shark Tank pitch. Yes! That's what I was doing in the other room the other night when you were guys, where are you guys going? I'm like, I'll be right back.

1:03:11And you guys were rehearsing that. We rehearsed a little bit. So is that... Is that how the pitches go? They're campy and they're performative, right? Yes, yes. Right? Yes. So, but is that a prerequisite of it? I mean, can't you just come out and say, here's my idea? No, no, because they're not actors. They're not, like, performers. Yeah, but is that, but do you have to kind of, do they say, you gotta put a little spice into it? Yeah, they do, they choreograph it. It's the show! Yeah. Well, I will, I will, but I don't know it yet. No, that's okay. I wanna see, where's Scotty? Can we just get Scotty out of here for a second?

1:03:43Scotty, get back out here.

1:03:48Still alive! Yeah, still alive. So, wait. So, again, I just want to get back to, sorry not to get too into the nuts and bolts of it, but so when you guys were rehearsing your bit, Yeah. was Sean, was Sean super bossy? Yeah, yeah, a little bit. He was? Yeah, a little bit. Not gonna lie. Was he? Yeah, a little bit. Look, he's got his diabetes pod. Yeah, my pod right there. Well. Goodbye! Yeah. What? Not dead yet. Not dead yet. And how many times did he make you rehearse it? Five or six, yeah. We still didn't get it. And you guys, so you guys have been married a number of years now. Fifteen years, yeah.

1:04:31Woo! Did you... Fifteen years? Oh, sorry, I didn't know you hadn't met.

1:04:43Did, Scotty, before you guys were married, did you know about the dinosaur story? No. No. But I've heard about it since, but not before we were married. Would that have affected your... Decisions. No, this is a fair question. No, no, of course. Scotty, how did you used to masturbate?

1:05:11A lot more carefully. A lot more carefully. Not with wired figures. Right. And if somebody came in to catch you, would you say, like, don't go away? That's a bad one. Oh, my God. He's trying to do a buy. I'm trying to do a buy. He's trying to get a buy-in. Yeah. Well, I mean, did you ever worry when you were inside the dinosaur's mouth that it might somehow bite you? Bite! Bite! Thank you, Chicago! Thank you!

1:05:46Smart. Thank you, guys. Smart.

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