Meta is turning to Microsoft to help bail out the metaverse with a new partnership that brings Microsoft Teams to the Quest platform.
At Meta Connect 2022, the company unveiled the all-new Meta Quest Pro headset, but the real news was a new partnership with Microsoft, no doubt in the hopes that Microsoft will help spur metaverse adoption.
We’ve also made it clear that we can’t build the metaverse alone, and nowhere is that more obvious than people’s work day. Every company works differently—and uses different tools.
To that end, we were excited that Microsoft Chairman and CEO Satya Nadella joined us during Connect to announce that a new version of Microsoft Teams immersive meeting experiences is coming to Meta Quest. Teams connects hundreds of millions of people around the world and is an essential part of how they meet, call, chat, and do business. Bringing Teams to Meta Quest can enable them to work together in ways that simply aren’t possible on a 2D screen. We’re also exploring the ability to support Meta Avatars and Microsoft Avatars so you can collaborate in Teams immersive experiences.
Meta has been working to push the metaverse, but with limited success. Users and tech CEOs alike aren’t sold on Meta’s vision. Tech icon Mark Cuban recently made the following comment on a Coinbase article, according to TheStreet:
“It’s Lonely in the Metaverse: Decentraland’s 38 Daily Active Users in a $1.3B Ecosystem,”
Only time will tell if partnering with Microsoft will help Meta move the metaverse forward, but it certainly can’t hurt.
Mark Cuban believes his company can take on Amazon in the burgeoning online pharmaceutical market.
Amazon has its own Prime Pharmacy services, giving users discounted prices for subscription drugs. The company has had mixed results, with a recent survey showing Prime Pharmacy is one of the least important services to customers. Nonetheless, the company is continuing to expand, eyeing a potential entry into the Japanese market.
Despite Amazon being the 800-lb gorilla in the market, entrepreneur Mark Cuban believes he has the winning formula to compete with the e-commerce giant. Cuban launched his own Mark Cuban Cost Plus Drugs Co. earlier this year, competing in the same space as Amazon. Despite the overlap, Cuban told Kara Swisher his secret for success, according to GeekWire:
“I look at Amazon and say, their margin is my opportunity,” Cuban said.
Cuban expounded on what he meant when Swisher asked his opinion on Amazon’s plan to purchase One Medical for $3.9 billion.
“They’re a big company, and in health care, particularly with medications, it’s hard to be lean and mean,” Cuban said. “And that’s what we are.”
Amazon has a track record of dominating in the fields it enters, from e-commerce to cloud computing. That being said, if there’s anyone who can give the company a run for its money, it just may be Mark Cuban.
Dogecoin continues its transition to a serious cryptocurrency, as it surged to an $18 billion market value.
Dogecoin is unique among cryptocurrencies. It was originally created as a joke and, unlike most other currencies, has no limit on the amount of currency that can be mined.
Amid a broader surge in cryptocurrencies, Dogecoin has soared to new heights. The currency has gained nearly 100% in the last two days. Even though it’s dropped since its peak, it still has a $16.3 billion market value at the time of writing.
Dogecoin has received support from high-profile sources. Mark Cuban threw his weight behind the currency when he announced the Mavericks would accept it as payment, and Elon Musk has been a long-time proponent of Dogecoin.
With bitcoin and Ethereum mining facing a finite future, perhaps Dogecoin will become the next big crypto. In this market, stranger things have happened.
What began as a joke is increasingly becoming a serious cryptocurrency, as the Dallas Mavericks are the first to accept Dogecoin as payment via BitPay.
Dogecoin was created by IBM software engineer Billy Markus and Adobe software engineer Jackson Palmer and originally released in December 2013. Despite being created as a joke, the cryptocurrency has a market capitalization of $6.3 billion at the time of writing.
BitPay has announced support for Dogecoin payments. Right from the outset, the Dallas Mavericks are onboard, accepting Dogecoin via BitCoin.
“The Dallas Mavericks are a long-time enthusiast of cryptocurrency, opening up new opportunities for the team to sell tickets and merchandise to its global MFFL fan base,” Stephen Pair, CEO of BitPay, said. “BitPay believes that with continued cryptocurrency adoption, the industry is reaching an inflection point that will forever change consumer confidence, trust and pave the way for blockchain payments to disrupt the way consumers and businesses receive and spend funds.”
Mavericks owner Mark Cuban had a novel reply as to why the Mavericks were supporting the cryptocurrency.
“The Mavericks have decided to accept Dogecoin as payment for Mavs tickets and merchandise for one very important, earth shattering reason, because we can! Because we can, we have chosen to do so. We have chosen to do so because sometimes in business you have to do things that are fun, engaging and hopefully generate a lot of PR. So we will take Dogecoin, today, tomorrow and possibly forever more. For those of you who would like to learn more about Dogecoin we strongly encourage you to talk to your teenagers who are on tik tok and ask them about it. They will be able to explain it all to you,” said Cuban.
“There are some banks who are actively trying not to take applications and to minimize the number of loans they make through the program,” says investor Mark Cuban. “This is despite the fact that it pays a five percent commission for the loans made on the small businesses. It might take the Treasury Department really pushing some banks who were unwilling participants to start to push some loans out there.”
Some Banks Actively Not Taking PPP Loan Applications
You have got to execute on what you’ve already promised obviously. Small businesses have been told that this (PPP forgivable loan) was coming since the legislation was passed more than almost two weeks ago. The rush was more than the banks were able to handle. The banks have just got to do their job.
Part two to that is I think there are some banks who are actively trying not to take applications and to minimize the number of loans they make through the program. This is despite the fact that it pays a five percent commission for the loans made on the small businesses. It might take the Treasury Department really pushing some banks who were unwilling participants to start to push some loans out there.
Surprising That Banks Not Taking Advantage Of Opportunity
It’s kind of surprising to me because the reality is that the Fed has said that they’ll buy back all the loans. Plus on top of that, they’ll pay that five percent origination fee slash commission for smaller loans. So banks have an incentive and it’s a unique opportunity for banks to pick up new clients. Never in the history of banking has a bank been able to say to a small business, I’ll loan you money and if you increase or maintain your employment you don’t have to pay it back.
I really truly expected that forward-thinking banks would use this as a way to attract new customers because it’s a unique opportunity. But they just haven’t. It’s going to take some prodding, unfortunately, to really get the stimulus in the hands of those who need it. Also, unfortunately, even more so, it’s a race against time because a lot of these companies are looking at going out of business if they don’t get that money in their hands.
Mark Cuban: Some Banks Actively Not Taking PPP Loan Applications
The entrepreneurial spirit is alive and well in the United States. Unfortunately, 30 percent of new businesses fail within the first 2 years of launching, 50 percent fail after 5 years, and the number climbs to about 66 percent by the tenth year. Dallas Mavericks owner and mogul Mark Cuban says this is because most entrepreneurs focus on the wrong thing—raising money.
Loans and Investor Capital are Not Good for Business
Cuban gained nationwide fame as an investor on ABC’s hit reality show Shark Tank, where he invests in promising startups and gives shrewd advice to aspiring entrepreneurs. Despite being the biggest “shark” on the show, Cuban said that thebiggest mistake new entrepreneurs make is to believe they have to raise money.
The 60-year-old businessman told Sanyin Siang, the executive director of Duke University’s Coach K Center on Leadership and Ethics, that “Raising money isn’t an accomplishment, it’s an obligation.” To Cuban, the success of a business does not depend on big ideas or the amount of money it receives from investors. True success is in sales and “finding customers that you can really create value for and making them happy.” And once you have these happy customers, they will inform others who will also become happy customers and “that turns into a successful business.”
While the Maverick’s owner is a firm believer in the value of hard work, he doesn’t put much regard in raising money from investors. As a matter of fact, Cuban advises entrepreneurs that the more they “can do without raising money,” the further they’ll go and the more they’ll retain their company.
Cuban’s view definitely has merit. Venture capitalism has a tendency to go for companies with big ideas and perceived potential instead of startups with solid business models and reliable customer bases. In short, these investors are looking for that next unicorn. In these scenarios, the ideas are ranked higher than sales because the next crucial step after a seed round is to build on that investment and develop a powerful pitch for the succeeding round until someone acquires the startup. In short, the brand’s alleged potential is more important than your sales expertise or the solid customer base that you have developed.
Don’t Make the Bank Your Boss
Cuban is adamant about entrepreneursstaying debt-free, particularly when they’re just starting their business. He explained that once you take out a loan, you’re no longer your own boss. The bank becomes your boss and every obstacle you hit, your priority will be on making sure to pay the bank instead of doing what needs to be done for your business to survive.
The serial investor told BloombergTV that “Only morons start a business on a loan.” He did admit in other interviews, however, that he would turn to crowdfunding sites like Kickstarter first before he would consider looking for investors.
It’s actually a good option as numerous entrepreneurs have gotten the funding they need from Kickstarter. One such company is FINEX Cast Iron Cookware Co, which raised about a quarter million in just one month on the site. However, crowdfunding sites can be challenging since you won’t get any guidance and you have to deliver on what you promised.
New entrepreneurs can also join grant competitions to boost their finances. LinkedIn hosted a Seed Grant competition and winners received $2,000 for their concepts. So do some research and look for other grants that you can avail of.
You can also turn to the government for help. Every state offers grants, incentives, and various state-dispensed funding to entrepreneurs and starting companies. Tap resources like your state’s Small Business Administration, the local Economic Development Council, or the Department of Agriculture.
Lastly, look to your own contacts and circle of connections. There could be someone in your own network who can either invest in you or set you up with the right people. Don’t be afraid to ask around or to let people know you need help.
There are so manyavenues that new entrepreneurs can turn to when it comes to funding their business. Take your chances with them first before asking for a loan or looking for venture capitalists. And if all else fails, you can always write to Mark Cuban and pitch your ideas.
First of all, Mark Cuban insists that the winner or winners not take all their winnings in one check.
“Don’t take the lump sum. You don’t want to blow it all in one spot,” he says.
For those who may not know, lottery winnings are offered in one of two ways. Winners may opt to receive a check in one lump sum, or a series of payments over 30 years instead–otherwise known as an annuity.
Mark Cuban says winners wind up with more money if they don’t get it all at once.
Another piece of advice from the Shark Tank investor–as worthy as the first–is to practice one very important word.
“Tell all your friends and relatives no,” Mark Cuban says. “They will ask. Tell them no. If you are close to them, you already know who needs help and what they need. Feel free to help SOME, but talk to your accountant before you do anything and remember this, no one needs $1 million for anything. No one needs $100,000 for anything. Anyone who asks is not your friend.”
If you plan on winning this coming weekend’s incredible jackpot, make sure to heed Mark Cuban’s advice.
If you did win such a huge sum of money, what’s the first thing you might do with it?
Bo Derek has signed on to play the role of May, the mother of Tara Reid’s character April, in the upcoming SyFy production of Sharknado 3. Tara Reid and Celebrity Apprentice contestant Ian Ziering have the Sharknado movies to thank for putting bread on their tables.
In addition to Bo Derek, other celebrities (?) have signed on to play roles in Sharknado 3, including billionaire entrepreneur Mark Cuban, Ann Coulter, Jerry Springer, ‘NSync’s Chris Kirkpatrick, and Chris Jericho.
Sharknado 3 must have some kind of draw to land the Shark Tank star and political commentator.
Bo Derek is, of course, best know for her role in the 1979 film 10, and her signature cornrow braids she sported while running in her bikini across a sandy beach. 10 also starred Dudley Moore, Julie Andrews, and Robert Webber.
Jerry Springer must have missed the memo titled ‘Spoiler Alert’ when he signed on to play in Sharknado 3.
Great fun being in #Sharknado3. But — spoiler alert — it doesn't end well for me.
Chrissy Teigen and John Legend went on a double date with Kim Kardashian and Kanye West on Saturday night. So where did the two couples go?
They started out hanging together at the DirecTV Super Saturday Night Party in Glendale, Arizona, where Kanye West performed. The event was hosted by Shark Tank’s Mark Cuban and Live! With Kelly and Michael host and NFL Hall of Famer Michael Strahan. After the party, the double date kicked into high gear.
It’s definitely not where one might expect to find people like Chrissy Teigen, John Legend, Kim Kardashian, and Kanye West–but the gang was hungry and it was likely well after hours. That’s how the two couples found themselves out for a bite to eat at a nearby Waffle House.
Each couple sat in their own booth–adjacent to one another–so that all four could chat while dining.
“Double date at the Waffle House,” she captioned the photo of herself with Kanye West, Chrissy Teigen, and John Legend.
Can you imagine how surprised employees at the Waffle House must have been to see these two famous couples walk through their doors? How long do you suppose it took them to realize they were waiting on four celebrities? Maybe the fact that Chrissy Teigen was wearing a white gown gave it away?
Chrissy Teigen and John Legend went on a double date to Waffle House with KimYe after the 2015 NFL Honors http://t.co/TV1qemCjXm#SB49
Mark Cuban definitely feels some kind of way about the Los Angeles Lakers.
During a recent interview on Los Angeles radio station TheBeast 980, Cuban had absolutely no reservations about sharing his disdain for the NBA franchise.
As a matter of fact, he personally hopes they “suck forever.”
“As far as the Lakers,” Cuban said, “I think there are going to be a lot of teams that are going to be focusing and saying, ‘Look, I’ve got a ton of cap room, free agents A, B and C, why don’t you guys come together and come play for me?’”
He added, “And L.A. has always been considered a destination, so maybe they feel there’s a valid strategy. You know me, Fred. Personally, I just hope they suck forever.”
For those who aren’t following NBA statistics this season, the ever-popular Lakers aren’t exactly at the top of their game right now.
With a 2-9 record, the 16-time NBA champions have the lowest ranking in the entire Western Conference.
However, Cuban’s Dallas Mavericks are currently on a five-game winning streak, holding the number five slot in the conference. So, of course, he can toot his own horn right now.
Although many NBA enthusiasts found his comments comical, of course, avid Laker fans definitely aren’t pleased with his remarks. Many fans fired back at the billionaire entrepreneur via Twitter.
However, the retorts definitely won’t change his opinion because this isn’t the first time the 56-year-old investor has made a bold comment. “I know I’m prejudiced, and I know I’m bigoted in a lot of different ways,” Cuban said back in May during an interview with Inc. magazine.
So, of course, this probably isn’t the last fans will hear from Mark Cuban!
Earlier this week, President Obama urged the FCC to reclassify Internet service under Title II of the Telecommunications Act. He said that ultimately, it’s their decision as they’re an independent agency, but added that four million people publicly commented, asking the agency to “make sure that consumers – not the cable company – gets to decide which sites they use.”
Americans really like the online service they currently have and strongly oppose so-called “net neutrality” efforts that would allow the federal government to regulate the Internet.
The latest Rasmussen Reports national telephone survey finds that just 26% of American Adults agree the Federal Communications Commission should regulate the Internet like it does radio and television. Sixty-one percent (61%) disagree and think the Internet should remain open without regulation and censorship. Thirteen percent (13%) are not sure.
According to that, 19% believe more government regulation is the best way to protect Internet users and 56% think more free market competition is the best protection. 25% are undecided, it says.
“The next generation of Internet-connected devices, apps and services will generate trillions of dollars of global economic growth in the years ahead. And Americans are perfectly poised to take maximum advantage — if the government doesn’t take those opportunities away in the form of crushing taxes, rules and regulations,’ wrote Cruz. “Yet the threats from Washington to stifle freedom, entrepreneurship and creativity online have never been greater. Washington politicians want the money, and they want more and more control over our speech.”
He went on to discuss “four basic principles,” which he said should guide policy makers “in a bipartisan manner, to preserve America’s leadership role in developing the future of the Internet.”
These include “abandon[ing] the idea of further taxing Internet access and sales,” “dismiss[ing] all plans to give nations hostile to human rights and democracy more influence over Internet policy,” “promoting growth in the technological sector,” and “recognizing that our constitutional rights are digital rights, too”.
He also referred to the Internet as a haven for entrepreneurial freedom and “The American Dream 2.0”.
Mark Cuban is also voicing opposition to Obama’s plan. When asked if he’s concerned about the potential for small businesses to be stifled by internet providers, he told Business Insider, “I’m more concerned the government will f— it up.”
Asked if he was worried internet providers would hurt startups, he told them, “Hell no. Since when have incumbent companies been the mainstays for multiple generations? There will be so much competition from all the enhancements to wireless that incumbent ISPs will have to spent their time fighting cord cutting.”
Cuban also tweeted additional thoughts at Chris Dixon:
.@cdixon Not when those tinkerers have and need 100mbs or more of bandwidth for advanced applications and cant get it.
According to a report from The Huffington Post, which contradicts an earlier one from The Washington Post, FCC Chairman Tom Wheeler is open to Obama’s plan, and that he “told a gathering of business representatives and public interest groups that he was taking the president’s comments under advisement and that he would need the groups’ support in the coming fight over net neutrality.”
Obvoiusly there are a lot of opinions about how net neutrality should be handled. Here’s what others are saying:
Billionaire Mark Cuban didn’t get where he is today by not thinking things through from all angles before making a decision. So when he took to Twitter and threw down the gauntlet on U.S. corporations that are taking their tax base off shore, he was all studied up and ready to fight.
At issue is something called “tax inversions”. Essentially, this is when a U.S. company acquires a foreign company, then moves its tax base overseas to enjoy lower tax rates.
Now most corporate heads will tell you that it is their responsibility as executives to keep an eye on company profitability. There may be an argument to be made about whether today’s CEOs think about the future much when making decisions, as opposed to looking at just the next fiscal quarter. But most understand that a CEO is there to make shareholders money.
Part of running a business is about reducing expenses, including taxes. The U.S. tax code has built into it lots of ways for people and companies to reduce or even eliminate their tax burden legally. There are also plenty of illegal ways to do it. If a CEO can reduce his company’s taxes as far as possible, and still be on the right side of the law and the ethics demanded of him by his company, that is his mandate.
But Cuban says that companies taking advantage of these “tax inversion” methods are bad for the U.S. And furthermore, he has put them on notice:
If I own stock in your company and you move offshore for tax reasons I'm selling your stock. There are enough investment choices here
His logic seems sound enough. As a shareholder in a company that moves its tax base outside the U.S., he may stand to gain from that company. But as a taxpayer, he and the rest of us now have to make up for that company’s missing tax revenue.
Look at your portfolio holistically.A corp move may push up the stock. it may push up your taxes Taxes r forever. #costdontleavethesystem
If a company reduced its tax burden via legal means right here in the U.S., those legal means balance the loss of the revenue because they are based in other pluses for the U.S. economy, such as investment and development. But to move away and put nothing back into the system is not the same thing.
The Indianapolis Motor Speedway announced yesterday that Mark Cuban, the owner of the Dallas Mavericks, will be serving as the honorary starter at the 98th Indy 500, waving the green flag to start the field of 33 drivers, on Sunday, May 25.
“Whether it’s winning an NBA Championship or the honor of waving the green flag to start the Indianapolis 500, there are certain sporting events that are monumental for any true sports fan,” the Shark Tank star, and investor, said. “I am excited to come back to Indiana, not just to attend, but actually participate in this historic race.”
“Mark Cuban brings Indiana ties, a passion for sporting events, and a diverse following of fans around the globe to the flag stand at the Indianapolis Motor Speedway,” Indianapolis Motor Speedway president J. Douglas Boles said in a statement.
“His successes and personality are well known in the business and entertainment world and we look forward to watching him wave the green flag to start the 98th Indianapolis 500.”
Cuban is one of the most successful men of our time. Shortly after graduating from Indiana University, in 1995, Cuban and his good friend Todd Wagner developed AudioNet, which streamed audio over the internet so people could listen to sporting events online.
Four years later, Cuban and Wagner sold AudioNet, which is now Broadcast.com, to Yahoo for $5.6 billion. Cuban took control of the Mavericks in 2000, and joined ABC’s popular television series Shark Tank, as an investor or “shark,” in 2010.
It may seem like an odd thing to think about, but as the NFL becomes more about its money-making as a franchise, the league may look to add more games to the schedule that will be played in London.
Although many people may not even realize it, the NFL has already had several teams playing games in London, but of course it does not happen often. There was one game played from 2007 until 2012, but 2013 had London hosting two games, and this year there will be three.
The NFL continues to do whatever it can to attract viewers, and has gained a large number of fans in England as well, despite already having their own version of football that Americans call soccer. The NFL’s owners have been pleased with the results that London games have given so far, and as a business, it can usually help to expand to a larger market.
The news of the possibility of adding a fourth game to the NFL’s London schedule in 2015 was revealed by Albert Breer via Twitter. Breer is with the NFL network, and said that it will be one of the big business decisions discussed at an owner’s meeting this week, although it will not be voted on.
A few big business measures will be discussed, but not voted on, at the Orlando meeting. One is the potential of a 4th London game in '15.
2014 will host three games in London, featuring teams from the NFC and AFC, and teams from around the country. One of the three games this year, Falcons-Lions in Week 8, will kick off at 9:30 a.m. ET. The other two, which will feature the Raiders against Dolphins in Week 4,and Cowboys-Jaguars in Week 10, will start at the usual 1 p.m. ET.
Business tycoon, and NBA owner Mark Cuban also revealed his feelings about the NFL recently, and where he sees problems in the league. Cuban believes that the league is becoming such a greedy for-profit league that it could “implode in 10 years.”
Evidence of the league’s greed can easily be seen from the salary that the NFL’s commissoiner Roger Goodell received in 2012, a grand total of $44.2 million. It places him among the highest-paid executives in the country.
The NFL going to London is one of the worst things for the sport. Travel is just stupid for the players. Need to put the players first.
In regards to the NFL in London, the league has also mentioned that it may put a game in a venue other than Wembley Stadium, which has hosted all of the NFL’s London games so far. The NFL may even consider giving London its own franchise, but it is unclear how that would work.
The NFL is likely to make a lot of money if, and when, it expands to having more games in London, and historically, the league will do anything to make money. Is it a good idea to have a franchise team in London?
Every week on TV, billionaire and owner of the Dallas Mavericks, Mark Cuban, critiques new business ideas on the show Shark Tank, and most times he’s spot on in terms of whether that idea will work or not, and how profitable it will be.
And recently he gave some business advice to the NFL, and said the league has gotten overly greedy when it comes to the television package it offers, and within a decade the entire league will merely be a shell of its former self.
“I think the NFL is 10 years away from an implosion,” Cuban predicted. “I’m just telling you, pigs get fat, hogs get slaughtered, and they’re getting hoggy. Just watch. Pigs get fat, hogs get slaughtered. When you try to take it too far, people turn the other way.”
It seems that Cuban is a little miffed that the NFL will be offering more games next season, including the possibility of having Thursday night games, which may conflict with the NBA schedule. The business mogul says offering too many games will only burden fans, and force them to watch either one sporting event or the other, which isn’t good.
“They’re trying to take over every night of TV,” said Cuban. “Initially, it’ll be, ‘Yeah, they’re the biggest rating-thing that there is.’ Ok, Thursday, that’s great, regardless of whether it impacts [the NBA] during that period when we cross over. Then if it gets Saturday, now you’re impacting colleges. Now it’s on four days a week.”
And Cuban also poses this question: Is there a possibility of too much football being shown? Will fans eventually become indifferent about the sport if its being shown on television just about every day of the week?
Most will probably say it’s impossible to offer too much football to a real football fan, and that no matter how many games are televised, people will still watch. However, Cuban disagrees and feels too many games being shown isn’t a good thing, and it will only lead to poor NFL ratings.
“It’s all football,” he said. “At some point, the people get sick of it….they put it on every night. Not 100 percent analogous, but they handled it the same. I’m just telling you, pigs get fat, hogs get slaughtered.”
Mark Cuban, the businessman and owner of the Dallas Mavericks, has been facing charges of insider-trading. He has been in a battle with the federal government for years now, and with it finally over, he can rejoice, especially after the verdict that was reached. He was being charged with the crime, as it pertained to the selling of his shares in an internet company in 2004.
The jury deliberated for only about four hours before reaching a unanimous verdict, that ends a three-week long trial. In the federal district court of Dallas, he was found not guilty, due to the fact that the Securities and Exchange Commission failed to prove the key elements of its case. This included the claim that Cuban agreed to keep certain information confidential and not trade on it.
Mark #Cuban victorious. After a 3-wk trial & 3.5 hrs of jury deliberations, the Mavs owner is found not guilty of insider trading. #SEC
Cuban has always been an important leader in the world of business, and is one of the most successful owners in sports as well. Forbes Magazine estimates his worth at $2.5 billion. If the jury had ruled in favor of the SEC in the case, he would have had to pay more than $2 million or $3 million dollars in fines and penalties. However, he admitted to having to pay more than that for the lawyers who led him to a victory in the court room.
In addition to his business ventures and being the owner of the Mavericks, he is also one of the stars on the reality television show Shark Tank. The show features Cuban and other financiers, who analyze and decide whether to invest in business ventures that are presented to them by aspiring entrepreneurs.
I see Mark Cuban is on trial. I know nothing of the case, but he's already guilty of being Mark Cuban.
The civil lawsuit was brought against Cuban in 2008 by the SEC, but was dismissed by the judge in 2009, an appeals court revived the case the following year. An early indication that the trial might not pan out in favor of the SEC this time around came when Judge Sidney Fitzwater, who dismissed the case previously, was assigned the case.
Mark Cuban rips SEC prosecutors for lying, after winning his insider trading trial.
With the jury ruling in favor of Mark Cuban, this could reignite concerns about the agency’s struggles in the courtroom, where important cases involving the financial crisis fell apart, according to the Los Angeles Times. Cuban’s career in business has been controversial to say the least, but the ruling in his favor should help things. He is also the owner of Magnolia Pictures and Landmark Theaters.
A federal jury has reportedly found billionaire Mark Cuban not guilty of insider trading.
The trial began last month, stemming from accusations that he engaged in insider trading when selling shares of Mamma.com back in 2004. The SEC had filed a complaint alleging that he had been acting on confidential info from then CEO Guy Faure.
The case initially went to U.S. District Judge Sidney Fitzwater in 2009, but he dismissed it, not finding that any insider trading laws had been broken. An appeals court overturned the ruling, however, and Cuban would ultimately find himself in a trial by jury.
Mark Cuban, the multibillionaire owner of the Dallas Mavericks, is dealing with something that his entrepreneurial skills may not be able to help him with.
According to court documents, the businessman is on trial of accusations he “committed fraud by engaging in illegal insider-trading.”
After nearly a decade long federal insider trading investigation, the Securities and Exchange Commission (SEC) filed a complaint that Cuban was given confidential information from the CEO of Mamma.com Inc., now known as Copernic Inc., that the company was looking to close after a Public Investment in Public Equity (PIPE) offer. Cuban then took that information to sell his 600,000 shares in the company to avoid a loss of $750,000. He first sold 10,000 during after hours on June 28, 2004, and sold the rest the next morning, June 29, 2004, during regular hours. All of this was done before the company went public with the same information.
The case was first brought in front of U.S. District Judge Sidney Fitzwater in 2009, who dismissed the case because he agreed that Cuban didn’t break any insider-trading laws by selling his shares. Fitzwater’s ruling was overturned by an appeals court in 2010 and sent back to him for trial.
Cuban denies any information he was given was confidential or would break any insider trading laws. When the lawsuit was first filed in 2008, Stephen A. Best, one of Cuban’s attorneys, said in a statement released on Cuban’s blog, “The SEC knows their case centers on one telephone conversation between two individuals- 4 years ago. The SEC claims there was an agreement between these parties to the conversation to keep certain information confidential. We interviewed Guy Faure, the former CEO of Mamma.com Inc., with whom the SEC claims Mr. Cuban made an agreement. We had a court reporter transcribe the interview. There was no agreement to keep information confidential.”
If Cuban is proved guilty, the SEC wants to charge Cuban with civil fines, recoup the money, and “enjoin Cuban from similar alleged misconduct.”
Jury selection for the trial began Monday and found potential jurors being asked if they are fans of the Mavericks, or if they watched Cuban on Shark Tank or Dancing With The Stars.
Prospective jurors in the Mark Cuban insider trading trial asked if they are Mavericks and Shark Tank fans. #markcuban#insider trading
According to Fitzwater, the impending government shutdown will not affect the trial, at least not for two weeks. During proceedings he will see how to go forward with the trial if it is to continue past the two week mark.
The other day, entrepreneur and Dallas Mavericks owner Mark Cuban made headlines when he said he might draft Brittney Griner. Today, TMZ is sharing an interview with Cuban in which he says he’d be honored to have the first openly gay NBA player on his team.
“I’ve been saying the same thing for years – that there will be someone who comes out, it will be a great moment for sports – I would be honored if he was on my team,” Cuban says.
“I think things have changed significantly, and that the players would accept him,” he adds. “I don’t think there’s any question that even though all professional sports have had their homophobic missteps on the way, that it’s a new era/generation, and the player would be accepted.”
The interview comes on the heels of (and references) words from NBA great Magic Johnson, who shared his own support for gay players in sports in another interview (below).
Entrepreneur and Dallas Mavericks owner Mark Cuban says he would be willing to draft Baylor women’s basketball star Brittney Griner if she’s the best available player at the Mavs’ spot.
“If she is the best on the board, I will take her,” Cuban said before the Mavs’ Tuesday night game against the Los Angeles Lakers. “I’ve thought about it. I’ve thought about it already. Would I do it? Right now, I’d lean toward yes, just to see if she can do it. You never know unless you give somebody a chance, and it’s not like the likelihood of any late-50s draft pick has a good chance of making it.”
Here’s Griner dunking and “exploding” for 50 points:
Griner is 6′ 8″, 207.2 lbs, according to Google’s Knowledge Graph. She is said to wear a men’s show size 17 or 18 shoe and to have an arm span of 86″.
Griner is reportedly the first NCAA basketball player ever to score 2,000 points and block 500 shots. She won the 2012 AP Player of the Year.
Cuban reportedly said that if the Mavericks don’t draft Griner, he would Have “no problem whatsoever” inviting her to try out for a spot on Dallas’ summer league team.
The Electronic Frontier Foundation (EFF), a nonprofit organization that champions the public intrest in digital rights battles, today announced that it has received two huge donations from very different entrepreneurs.
Mark Cuban and Markus “Notch” Persson have each donated $250,000 dollars toward the EFF’s goal of reforming software patent laws. Cuban is the billionaire owner of the Dallas Mavericks and Notch is the outspoken creator of the popular video game Minecraft.
“The current state of patents and patent litigation in this country is shameful,” said Cuban. “Silly patent lawsuits force prices to go up while competition and innovation suffer. That’s bad for consumers and bad for business. It’s time to fix our broken system, and EFF can help. So that’s why part of my donation funds a new title for EFF Staff Attorney Julie Samuels: ‘The Mark Cuban Chair to Eliminate Stupid Patents’.”
Cuban has been outspoken in the past about his hatred of patent trolls and poor patent laws. Back in April 2012, Cuban ranted about the current state of technology patents while discussing a lawsuit between Facebook and Yahoo.
Notch pioneered a pricing model for Minecraft based on how finished the game was at the time of purchase. He also founded Mojang, a new Swedish indie-game developer that has taken in over $80 million since the release of Minecraft.
“Temporary fixes aren’t good enough – we need deep and meaningful reform to protect software development and keep it as free and democratic as possible,” said Notch. “New games and other technological tools come from improving on old things and making them better – an iterative process that the current patent environment could shut down entirely. This is a dangerous path we’re on, and I’m glad to help EFF move us in the right direction.”
The EFF’s Defend Innovation project proposes seven ways in which the U.S. patent system could be reformed for the better, including shorter terms for software patents; allowing winning parties in patent litigation to recover fees and costs; and protecting inventors who independently invent an already patented idea. The organization stated that the Cuban/Notch donations will go to the hiring of a new attorney experienced in patent reform and to the organization’s continuing efforts to push for patent reform through the courts, activism campaigns, and public education.
