Foot Cardigan accepts an offer on Shark Tank from Cuban and Carter, who is appearing as a guest shark, to co-invest $250,000 for a 20% ownership stake in their $9-a-month sock subscription service. The company says it earned $1.36 million in the past three years ($900,000 in the past 12 months) and projects $1.5 million for 2015. It currently services 6,000 monthly customers with seasonal increases to approximately 12,000 subscribers.
Cuban apparently isn’t accepting DeAndre Jordan’s apology for reneging on a deal to sign with Dallas in free agency, writing on his Cyber Dust messaging app:
When’s an apology not an apology? When you didn’t write it yourself. Next.
Cuban says the American Airlines Center and freeD (Free Dimensional Video) have spent six weeks installing high-res cameras in the AAC roof to be deployed as soon as the Lakers-Mavs game on Nov. 21 that will give ‘crazy’ views of games. It will allow any video image to be frozen and turned 360 degrees, giving fans seeing the images on the AAC videoboard and viewers watching Fox Sports Southwest telecasts unique views of the game. The technology has already been used in the NFL and in the 2014 NBA All-Star Game. The software can take a single byte and transform it into views. Cuban:
For example, right at the jump ball, what does Tyson (Chandler) see? It literally recreates that perspective. If the ball goes out of bounds and you want to see who touches it, you’ll be able to spin the whole thing and look from any angle. The secret sauce is it converts (the high-resolution video) to actual data. And the double secret sauce is from that data, you can recreate any of the visuals. So from this, that is recreated into data. From using the software, you can look at it from any angle.
The Mavs will initially be the only team with the technology on videoboard and replays. Other teams will be able to license it for videoboard and local TV use but will need to pay money. NBA replay officials in Secaucus, N.J., will have access to the Fox Southewest feeds and will be able to use the technology to confirm or reverse calls by the ref.
Cuban tells L.A. radio station The Beast 980 that he hopes the team, which has a moderate rivalry with the Mavericks since Dallas swept the playoffs in 2011 and ended the Lakers’ title run, continue to stay bad:
As far as the Lakers, 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?’ 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.
Kovach publishes the full email exchange he had with Cuban about net neutrality after he wrote a column on the topic following Cuban’s tweetstorm a few days earlier. Kovach supports net neutrality but says he wants to hear Cuban’s opinions against net neutrality as a successful web entrepreneur. They talk about competition among ISPs, how America’s broadband options are rated as more expensive for slower service, and other issues related to the topic. Cuban:
If you don’t like it now, let the government get involved.
Cuban gives Ballmer six pieces of advice after Ballmer’s purchase of the L.A. Clippers:
1. Prepare for a never-ending media storm
He says NBA bloggers are worse than Apple fan boys and time at Microsoft won’t prepare Ballmer for sports media;
2. You don’t own the Clippers, the community does
The team belongs to fans everywhere, not shareholders or owners;
3. You will be asked things that have never been asked of you before
This could include requests to meet sick children, or even providing jerseys for children who have died to be buried in;
4. You will be all smiles when you win and find it hard to leave the house when you lose.
The pain of losing is stronger than the joy of winning;
5. Don’t try to make every penny you can off the team.
Knowing that people can still afford to come to games when the team isn’t doing great is more important than maximizing investment;
6. Be yourself. No explanation needed. Everyone needs some Ballmer in their life.
Cuban and Mavs management introduce tracking devices during training, and Readiband sleep monitoring watches, among other health technology for the Mavs. Athletic performance director Jeremy Holsopple:
We are constantly beta-testing several technologies.
Cuban has invested in Australia-based Catapult Sports, which produces what it says is the first bio-analytics platform, a beeper-sized device that monitors and assesses real-time data on accelerations, decelerations, changes of direction and jumping to monitor training loads. The Mavs use the device along with about a third of NBA teams and half of the teams in the NFL, including the Cowboys. Cuban:
Anything that makes us smarter about our players’ health is a win for us
Parsons joins the Mavericks.
It feels good, we obviously value him very highly. We think he’s going to contribute a lot.”
I looked at all the main guys that were young that we thought would be available and we loved his game, we liked him the best of all the free agents and that was point one.
Cuban predicts an end to the student loan bubble that will put colleges out of business:
It’s inevitable at some point there will be a cap on student loan guarantees. And when that happens you’re going to see a repeat of what we saw in the housing market: when easy credit for buying or flipping a house disappeared we saw a collapse in the price housing, and we’re going to see that same collapse in the price of student tuition, and that’s going to lead to colleges going out of business
Cuban says Obamacare should be extended to any startup three years old or newer, with all employees allowed to sign up at HealthCare.gov. This would allow entrepreneurs to quit other jobs, allows them to hire staff, and reduces resources spent to assess different healthcare options:
The bottom line is that the value we can add by taking health care out of the startup equation and allowing entrepreneurs to focus that time on increasing the values of our companies [adds] more aggregate value to the economy and the country than the inefficiencies and waste that the government introduces by managing our health care.
Cuban is sued for $15 million in a lawsuit apparently filed by Jonathan Lee Riches, an inmate suspected of filing a similar bogus suit against footballer Johnny Manziel. The plaintiff claims to be Lisa Lazzari, sister of Shark Tank entrepreneur and Simple Sugars bodycare company owner Lani Lazzari. She says she has been harassed by Cuban and offered Dallas Mavericks tickets in exchange for sex.
Cuban visited the Simple Sugars store and “told me I look hot and I told him I’m a lesbian. Cuban told me to perform oral sex on him in the bathroom and if I don’t Cuban will quit his investment in Simple Sugars…Cuban told me if I give him an [HJ], he will give me season tickets in a suite at the Dallas Mavericks. I told Cuban NO, that I’m a lesbian
According to Cuban:
In our system we have to take the good and the bad. Anyone can file a lawsuit. As a result, we have to deal with people like this and the lawyers at the SEC. Both take advantage of the many grey areas in the law.
At the Indy 500, where he starts the race, Cuban comments on the price of the Clippers:
I wouldn’t be shocked if the bidding starts at $1.5 billion
The entrepreneur says sorry to the family of Trayvon Martin — who was shot and killed by neighborhood watch volunteer George Zimmerman in February 2012 — over his choice of words in the videotaped interview in which he addresses bigotry and prejudice:
I didn’t consider the Trayvon Martin family, and I apologize to them for that. Beyond apologizing to the Martin family, I stand by the words and the substance of the interview.
Cuban pays for a dream wedding for Monica and Leroy Wilkinson of Watauga, Texas. Monica had multiple miscarriages and is undergoing chemotherapy treatment for Stage 4 ovarian cancer:
I got a call from his assistant, and she said Mark Cuban was going to help pay for our wedding. And I was completely floored. I thought it was a joke. Now we actually have those memories that can actually get us through. I can go back and have those pictures now and have a reason to smile. Because I got to feel special and it was all thanks to Mark Cuban.
Cuban admits that he would feel overwhelmed if he met everyone he anonymously helped.
If there is a scenario where the only problem is money, I try to fix that, [But] I’d die if I got emotionally connected.
Cuban warns the audience at Inc. Magazine’s GrowCo conference that he plans to ‘go full Mark Cuban.’ On prejudice and bigotry as part of everyday life:
I know I’m prejudiced and I know I’m bigoted in a lot of different ways. If I see a black kid in a hoodie on my side of the street, I’ll move to the other side of the street. If I see a white guy with a shaved head and tattoos, I’ll move back to the other side of the street. None of us have pure thoughts; we all live in glass houses
Cuban says he views the $1.6 million he has paid in NBA fines as an investment in the league:
The fact that we’re having this conversation about the integrity of the game is horrible for the brand. There are people who literally, and it’s not true, believe the games are fixed and that the outcomes are influenced by the league. That impacts the people who buy tickets, the number of people who spend money on merchandise, the number of people who watch our games. That’s something I do feel is an investment and that we’ll try to improve.
Cuban says simplifying the rules could improve NBA officiating:
We have to look at what the most difficult calls are and see how we can create a standard scenario […] we need a few more (easy calls to make) so it becomes less subjective. I’d move the charge circle further from the basket. Then you’re going to have fewer bang-bang block/charge calls and in my opinion, it’s going to be safer for guys to come in and make more athletic plays closer to the basket and it’s going to require guys to actually defend rather than just trying to take a charge
Cuban says that the NBA recognizes the importance of officiating but denies that the outcomes of games are fixed or that officiating is influenced by the league. On former NBA commissioner Stern:
I don’t want to speak for David (Stern) but my attitude and my battle with David when David was commissioner was that he didn’t care who won. He knew one team had to win, and one team had to lose, and officiating may or may not impact who won, but for him, because he didn’t care who won, the officiating was way down the list.
Stern’s successor, Adam Silver:
What Adam recognizes is that it affects our brand. It impacts TV viewership, it impacts merchandise sales, and as a result, it’s something we should deal with.
FBI agent Warren Flagg says he is contacted by Cuban after the 2006 NBA Final, and that he advises suing the NBA to recover $1.6 million in fines, but is not paid for his advice.
Cuban asked me what he should do. I told him, ‘Sue and you’ll win your case,’ but he knew he’d be killing the Golden Goose
Cuban denies hiring Flagg, and says their conversation may have happened as late as 2008:
I don’t recall calling the guy. But when the whole (Tim) Donaghy thing was going on I talked to a lot of people so I don’t think it’s inconceivable that I could have talked to him…He may have made a throwaway line about the 2006 Finals
Cuban says the NBA would be a better league without Donald Sterling in it, but also voiced concern about the precedent that could be set by forcing Sterling to leave the league.
Because this is a very slippery slope. What Donald said was wrong. It was abhorrent. There’s no place for racism in the NBA, any business I’m associated with, and I don’t want to be associated with people who have that position. But at the same time, that’s a decision I make. I think you’ve got to be very, very careful when you start making blanket statements about what people say and think, as opposed to what they do. It’s a very, very slippery slope.
Cuban creates a free texting app called Cyber Dust that does not store messages. Like SnapChat, the app leaves no trace of the messages, and they are not stored anywhere. It alerts you if the person has taken a screenshot, and it provides send and read confirmations so that you know if someone viewed your message. If your friend hasn’t viewed the message within 12 hours, it will expire and be deleted forever. Cuban says he was inspired to create the app after being challenged by the FCC over insider trading allegations.
What I learned very quickly was they took old emails and messages and created whatever context they wanted to create for it.
Cuban says Cyber Dust will appeal to users who are looking for something truly private.
The minute we hit send on a text we lose control, we are all going to have to learn to shrink our digital footprint. The minute we turn off the server it’s gone forever.
Cuban invests in the Australian wearables producer, which makes a GPS that can track more than 100 fields of data and is used by Australian Rules football players in the Australian Football League (AFL), the Philadelphia Flyers in the NHL, the Dallas Cowboys, AC Milan soccer team, and even under the waistcoats of Spanish bullfighters. Catapult is the biggest wearable GPS provider in the world, and operates out of a small factory in south Melbourne. Catapult chairman Adir Shiffman:
We’re on the way to being a billion-dollar company one day
Cuban confirms to the Australian Financial Review that he has taken a stake in Catapult. Terms aren’t disclosed and his stake is understood to be less than 5% and worth only a few million dollars. Cuban:
Wearable analytics will be a critical advantage in pro sports and eventually as it shrinks in size, in business. It won’t revolutionise [the sports industry], but it will make teams smarter and keep players on the court more. It also may save a career or even a life on the way.
It is Cuban’s first investment in an Australia-based company.
Cuban stars in a commercial advertising a new AT&T service called U-verse, which allows one to watch live TV on almost any device, almost anywhere in one’s home.
Calacanis talks about the lessons he learned from Musk and Cuban:
Cuban stars in a television commercial advertising Skechers’ line of roomier and more comfortable shoes for men.
In any new business I enter, whether it’s sports or another venture, the key is to always stay relaxed and keep your cool – and these Relaxed Fit shoes are exactly what I need. They feel and look incredible.
Cuban invests $2 million for 20% of Ten Thirty One Productions, a company that specializes in creating and producing live horror attractions. The company’s CEO, Melissa Carbone, who arrived on set followed by a zombie, presented the Sharks with her company’s most popular attraction, the Los Angeles Haunted Hayride. Upon hearing the Hayride makes $600,000 in cash profit on $1,8 million sales from 17 days operation in the month of October alone, Cuban agrees to buy in, making it the largest deal in the show’s history.
A Texas jury takes less than four hours to decide Cuban did not engage in insider trading when selling his stock in an Internet company in 2004. The jury found that the SEC failed to prove several key elements of its case, including that Cuban traded on non-public information. Cuban nodded and smiled when the verdict was read. Later, outside the courthouse he criticized SEC lawyer Jan Folena:
I’m the luckiest guy in the world and I’m glad I could stand up to them.
An SEC spokesman later issued a statement saying regulators would not let this deter them from taking people to trial.
Cuban makes Shark Tank change its equity contract retroactive to Season One be threatening to leave the show if the clause was not removed. From the beginning of the show all entrepreneur’s who came on the show were required to give up either 2% of all profits or 5% equity, a clause that applied to every contestant even if a deal was not made. This clause stopped many people from coming on the show. In a Facebook message to prospective participants he said:
FYI, there is no additional equity or percentage of anything taken any longer. That was removed retroactively. I told them I wouldn’t come back this season if it wasn’t
Opening arguments in the insider trading trial of Cuban begin. The Securities and Exchange Commission claims Mamma.com’s chief executive, Guy Fauré, told Cuban the company was about to issue new shares in a private offering, which could cause the stock price to drop and dilute Cuban’s stake in the company. Cuban says he did nothing wrong when he sold his 6.3 percent stake , but the SEC claims he knew what he was doing in unloading it, thus avoiding a $750,000 loss. The SEC is seeking to recoup lost funds, impose fines and obtain a permanent injunction to bar Cuban from similar alleged misconduct.
It was fun to work with Tony Scott. You know, we’re all saddened by the fact that he’s passed away. It was an amazing director, an amazing cast and a unique experience.
HDNet is rebranded as AXS TV (pronounced “access”). Its schedule includes music, comedy, reporting and martial arts programming. The network is owned by a consortium comprising AXS TV LLC (founded by Cuban as HDNet in 2001), Ryan Seacrest, Anschutz Entertainment Group and Creative Artists Agency.
One of our tag lines is ‘by the time you see it on YouTube, you have already missed it.’ Live programming has a unique quality in that anyone who is passionate about the artist, team or topic not only wants to see it, they want to see it as the same time as other fans and talk to them via social media, text or email.
It was gambling money, to be honest with you. Any time you try to time the market, you get what you deserve. Sometimes you’re right. Sometimes you’re wrong. This time I was wrong.
After expressing his views on the IPO (Initial Public Offering) tactics, Cuban writes in his blog:
I bought 150k shares of FB. 50k shares at 33, 50k shares at 31.97 and 50k shares around 32.50. It’s a trade, not an investment. Kind of like buying a Mickey Mantle, a Hank Aaron and a Barry Bonds Rookie Card knowing there is a card show in town next week.
Cuban appears in an ad for Skechers shoes aired during the Super Bowl, despite his claims that he is not an investor in the company.
I just really like mid-foot strike technology and Skechers is the best. I have been wearing their shoes since they came out 3 or 4 years ago.
I have been blogging for 7 years. I have gotten a ton of requests to write a book. I had resisted because of all the work that comes with distributing a traditional book. With the revolution in book economics, it allowed me to price the book at under 3 dollars and sell it leveraging social media rather than going on a book tour. Plus the ebook format let me take all my blog topics and pull them together in an easy to read and enjoy presentation. It just made sense to do it now.
Cuban decides to keep Landmark Theatres and Magnolia Pictures after failing to attract bids for the assets.
We haven’t received any offers. For the right price we would still sell.
Dallas Mavericks beat Miami Heat 105-95 to clinch their first NBA title, winning the series 4-2.
It’s been 31 years for all of us here in Dallas and I know it’s just as special for each of you as it is for me. … We’ve got one and we’re going to keep on trying to get more.
Cuban puts Landmark Theatres and Magnolia Pictures up for sale.
Prices for entertainment properties have gone up considerably. We will only sell if the price is right. Otherwise, we are happy to keep on making money from the companies.
The entrepreneur reveals an interest in becoming a minority owner in the NHL’s Dallas Stars:
I’m not looking to outright buy the team. I have talked to somebody who is interested in buying the team and I told them I would try to help them get a deal done. From my end, I like hockey, I’m a fan, but I’m not a hockey guy. l’m not going to lie and pretend I can come in and bring the energy that I try to bring to the Mavs.
Cuban invests in the gift card affiliate startup JungleCents. No amount is officially reported, but it is assumed that the seed funding amounts to approximately $1.5 million dollars, and that he is the sole funder. Cuban says
Curating and matching deals is both art form and science. It’s not easy to procure deals from major brands and it’s no easier to match those deals to editorial. I don’t see deal curation ever becoming a core competency for high volume sites. Its a very specific skill set and the companies offering the deals don’t want to deal with every media site.
Company co-founder Sameer Mehta says about Cuban’s involvement:
Aside from his advice, where he chimes in on the focus and direction of the company, his name does help because we are a sales-focused company, so it’s easier to get a foot in the door with brands to pitch our products and services.
Cuban and Headington lead a group of investors funding investing five million dollars in BlueCava, a startup company producing a device ID technology which is the first of its kind. CEO David Norris comments on Cuban’s involvement:
Mark is a smart man who is passionate about technology. He believes our business is very unique and he wants to help build it to its maximum potential and help us with our long term strategy of taking our business to a much larger size.
The NBA fines Cuban for violating the league’s anti-tampering rules with comments made in an interview with CNNMONEY.com about recruiting LeBron James to the Mavericks. Cuban is punished for failing to adhere to the details of a 2008 memo sent to all 30 NBA teams:
If a member of your organization is asked by the media about a potential free agent prior to the July 1 following the last season covered by the player’s contract, or about any other person under contract with another NBA team, the only proper response is to decline comment.
In an exclusive interview with CNNMoney, Cuban says:
Come July 1st, yeah, of course, anybody would be interested in LeBron James, and if he leaves via free agency, then it’s going to be tough… if he decides to leave — there’s still a better chance he stays — then he’ll try to force a sign-and-trade, and that gives us a chance.
Loans the newly formed United Football League (UFL) $5 million. He will not own a franchise or be involved in the day-to-day operations of the league or of any of its teams.
I didn’t want to take on the responsibility of a franchise. It will make things really interesting, potentially. Now if there’s not a lockout, it’s a valid league.
Cuban files a federal lawsuit against the United Football League for their failure to repay a $5 million loan by the October 6, 2010 deadline. Cuban refuses to comment, but UFL spokesperson Michael Preston says:
As we have said previously, we like many companies regrettably do not always meet our intended turnaround on payments in these tough economic times when we find ourselves behind in cash flow. We like all new businesses are not immune from the effects of a stagnant economy.
Jacke Cuban is the third child born to parents Mark Cuban, 52 and Tiffany Cuban, 38, and to sisters Alexis, 7, and Alyssa, 3.
Cuban is fined $25,000 for criticizing the referees on Twitter after a 103-101 loss to the Denver Nuggets. He complains that Denver’s J.R. Smith was not called for coming off the bench to taunt Antoine Wright after he missed a shot near the Nuggets bench.