SHARK TANK’S Mark Cuban Predicts Economy Will Rebound With the ‘Best of Capitalism’
By Allyson Vannatta, Staff Writer
In the wake of this worldwide pandemic, Dallas Mavericks owner and entrepreneur Mark Cuban, predicts the economy will bounce back better than ever when all this is said and done.
While on the Fox News Rundown podcast, Cuban said, “I think we are truly going to see the best of capitalism when we come out of the other side, because this is where people are going to be entrepreneurial.”
He also touched on three things that business owners can do while in this period of staying at home.
Cuban encouraged business owners to use this time to talk to stakeholders, employees, suppliers, and customers. This communication now could help turn a bad situation into a more positive one.
“Just like it’s a chance for us to talk to our family, this is a chance for you to connect more closely with your stakeholders,” said the SHARK TANK investor.
This is also a good time for leaders to re-vamp their businesses and processes because “now’s the chance to do that.”
The businessman said it’s important for business owners and leaders to stay on top of what the government is doing to help during this time.
“If you’re a CEO or an entrepreneur that owns your own business right now, you need to be up to speed immediately,” said Cuban.
He continued, “If you keep your employees, if you have fewer than 500 employees, and you commit to retain all your employees, the government’s going to pay their salary.”
Although the economic situation doesn’t look too promising right now, Cuban states that “amazing companies” will come out of this time.
“That’s what makes America different,” he said. “That’s what makes us unique. We truly are a country of entrepreneurs. We have that spirit to go out and start companies, to be creative, to take risks.”
He added, “I truly believe in American exceptionalism. There’s no other country in the world that’s going to be able to figure out like we can, we’ll use this opportunity, we’ll use the situation.”
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