로딩 중...
영어학습소
영어학습소
홈
테디잉글리시
수능
Shadowing
재생 속도
0.5x
0.75x
1x
1.25x
1.5x
시작 지점을 클릭하세요
0:00
I'm Mark Cuban, let's answer some questions from the internet.
0:01
This is Mogul Support at Young Onre Hub.
0:08
What will be your best advice to those who are thinking of leaving their full-time jobs to become a full-time entrepreneur?
0:14
Save your money first.
0:17
Don't just leave unless you know what the hell you're doing.
0:19
We hear all these stories about all these people who quit their job, started a company, and made all this money.
0:24
What you don't hear are the stories of the people who quit their job, started a company, and failed miserably and are now working at a job they hate.
0:32
Before you quit, be prepared.
0:35
Know what you're doing.
0:35
Save your money.
0:40
Have at least six months to live off, if you can, and then maybe you're ready to start your business.
0:40
At Alan Bramley, question: Do billionaires create jobs?
0:45
The answer is no.
0:49
Entrepreneurs create jobs.
0:49
I'm an entrepreneur and I do my best to create jobs, but the reality is in order to become a billionaire, the one thing you have to have is luck.
0:57
Any billionaire who tells you they could just do it again, no, you have to be lucky.
1:02
Maybe you have a rich parent.
1:08
A question I get asked a lot is, should billionaires pay more in taxes?
1:08
Yeah, we should pay more in taxes.
1:10
I would not be in this position without this country, because nothing happens that's great, whether it's health care, teachers, roads, you name it, without people paying their taxes.
1:22
It may be painful when you write that big check, but just think about how you got there.
1:28
One of the most patriotic things that you can do when you're wealthy is pay your taxes.
1:38
At JCBA YC, you have six months to make as much money as possible.
1:38
All you have to start with is a phone and $500 in cash.
1:40
What are you doing?
1:50
JCBA YC, that is the best question I have ever been asked in my entire adult life.
1:47
I am really, really, really good at sales.
2:01
I'm going to find a sales job, because I already know that if I'm on to my last $500 and all I have is a phone, I am going to get that job and I'm going to learn more about that industry than anybody on the planet.
2:01
And I'm going to set a commission as high as I possibly can.
2:16
And three months in, when I've demonstrated that I am the best salesperson in the history of that company, I'm going to walk into my boss's office and I'm going to tell him or her, you're either going to pay me this amount of money to keep me or I'm going to start my own business selling this stuff.
2:16
That is exactly what I would do.
2:16
Everything always goes back to sales, no matter what.
2:33
An Jan1, if you buy shares of a sports team, is it a gamble or an investment?
2:38
It's a gamble because you're a minority shareholder.
2:40
You have no rights.
2:48
At Mike 2748592X, question: Is the customer always right?
2:48
No.
2:48
The customer is rarely right.
2:52
That doesn't mean you don't have to keep them happy.
2:53
Do customers make choices?
2:55
Of course they make choices.
2:56
We're all customers.
2:56
We know how we choose what we buy and what we don't buy, but the reality is you don't spend a minute of your day wondering what the next product should be at 7-Eleven, do you?
3:05
The customer is not the one who comes up with the ideas.
3:07
It's the entrepreneur that comes up with the ideas.
3:10
Ed Jamus wants to know, what are some great businesses that people don't realize?
3:14
I'm going to tell you a couple easy off the top of my head that if I wanted to start a company, I would seriously look at.
3:18
This number one, Alexa.
3:21
Alexa has so many capabilities and so many people have them, but they have no idea how to use any the programming or scripting capabilities of Alexa.
3:29
You can go and start a business where you could go to your neighbors, to car dealerships, to businesses, and show them for 50 bucks an hour or more how to use their Alexa in their homes to save energy, to save time in their businesses.
3:45
And two, that leads to the same thing happening with large language models like ChatGPT.
3:53
There's new features coming out in ChatGPT and its competitors every single month.
3:53
So if you just get involved and stay ahead, you're going to be the person in demand selling your services on how to prompt ChatGPT to help a business or even to tutor kids on how to best use it for school.
3:53
At Cinemod Is Back, if you could change one thing about the sports industry, college or pro, what would you change?
4:13
Dumb question.
4:13
I changed the officiating.
4:22
Ash Crypt, do you think crypto is dead?
4:18
Yes or no?
4:18
No, hell no.
4:18
But I do think crypto has some problems.
4:22
Number one, most people when they think crypto, they think speculation.
4:25
That's not what crypto is really about.
4:27
Number two, crypto is really about creating new applications that make things better and easier.
4:33
What crypto is missing is that one application that Grandma really wants to use.
4:37
Think back to the iPhone.
4:37
It came out in 2007, but it wasn't until the best apps like Instagram and Snapchat and Facebook went mobile that the App Store and the iPhone really took off.
4:49
Crypto is still waiting for its Instagram moment.
4:51
It won't be all that much longer where we'll be able to use an NFT as a ticket.
4:55
Once the ticket is resold, we don't make a penny.
4:58
The scalpers make all the money.
5:00
If that ticket was an NFT, and it will be in the future, every time it's resold, the original ticket holder can make some money, the team can make some money.
5:08
You can't do that with physical tickets.
5:10
You can't do that with traditional digital transfer.
5:13
You can do that when you turn it into crypto or an NFT.
5:15
When that happens, crypto go up.
5:28
At Blessing 91077312, why do most businesses fail?
5:30
Number one, sales.
5:30
No business has ever succeeded without sales, period, end of story.
5:34
Number two, preparation.
5:34
When you go to start a business, have you done all the homework to know about your industry, your competition, your products, the profitability, your customer base, their demographics?
5:44
You need to know these things.
5:45
Three, effort.
5:45
It is not easy starting and running a business.
5:48
It's hard.
5:49
If it was easy, everybody would do it.
5:51
And four, brains.
5:51
You got to be smart.
5:54
You got to learn this stuff.
5:54
You got to put in the effort.
5:56
You have to be curious in order to be successful at business.
6:01
You do these four things, blessing, and you'll be okay.
6:08
A company doesn't do them, they're in deep trouble.
6:05
At Ghost 93X, everybody losing money in NFTs, why are you still here, LOL?
6:11
I got a handy dandy graph.
6:13
This is the NFT market, and this is the volume of sales.
6:15
Basically, it sucks.
6:18
You know how many other industries have sucked?
6:20
There was a time after the internet stock market crashed where Amazon was selling for $5 a share.
6:28
Microsoft was selling for hundredth of what they sell right now.
6:30
You ever been in the trading card industry?
6:35
That Mickey Mantle card, that you know Steph Curry card, goes up, goes down, go up, go down.
6:35
The same thing is happening to NFTs.
6:38
Now, there are some people that would tell you that this is the best time if you're an NFT collector to buy an NFT.
6:44
I'm not going to tell you what you should or shouldn't do other than to say with NFTs, the best time to buy is when you're a collector and you love the NFT.
6:53
Don't buy to speculate.
6:56
I'm going to say it to you for the people in the back, don't speculate.
7:04
Yeah, you know what happens to speculators?
7:07
They get their ass handed to them.
7:10
I can stare at my Mutant Punk all day long because I collected it.
7:33
I'm not paying attention to all the things that happen on a day-to-day basis, and you shouldn't either.
7:33
Because someday we're going to turn around and you know what you're going to say to yourself?
7:33
You're going to say to yourself, I should have bought those damn NFTs when they were next to nothing.
7:33
At Tamar Shahan, what's something you wish your younger self knew before starting a business?
7:33
I wish I would have known to respect the people around me and to be nice to the people around me that worked for me more.
7:42
Because it's stressful starting a business, and I think too often I took that stress out on the people around me and that was a mistake.
7:52
At Ernest, Ernest for name, image, likeness, you get paid for that.
7:52
Dear God, what is wrong with the NCAA?
7:54
Ernest, you just busted your ass for the first 17, 18 years of your life to be great at something.
8:03
You get recruited by a school and somebody there wants to pay you for your name, image, and likeness.
8:09
Now if that same kid was a violinist and they wanted to pay them to do an ad for violins, you'd be like, yeah.
8:20
When an athlete makes it to the top at their level, an advertiser, a sponsor wants to pay them, yeah, let them earn the rewards of their efforts.
8:20
Ernest, NIL, hell yeah.
8:20
At Becoming a Mirror, who is the best shark on Shark Tank and why is it Mark Cuban?
8:20
I'm the best shark on Shark Tank because I've been there.
8:20
I've been broke, I've been fired, started a business with nothing, built a business into something.
8:20
So when you're on that carpet pitching to us, not only am I thinking to myself, will I invest, but I'm also trying to come up with a way that I can help that entrepreneur because I know the challenge, the pain, the anxiety of running a business.
8:54
And if I can make your life a little bit easier with a good idea, that's what I'm going to do.
9:05
At Turner Oinks, what is a business buzzword that annoys you the most?
9:05
I'll go first, disruptor, cohort.
9:06
There's no reason to ever use the word cohort when you can use the word group.
9:11
A cohort is a group of people, say group.
9:14
You sound stupid when you use the word cohort because you're trying to sound smart.
9:19
Always use the simpler word.
9:21
At Bash Terminal, can anyone explain in layman terms what is Series A, B, C, D funding?
9:38
I don't know why people apply these letters.
9:38
It's just the chronological order in which you raise money.
9:38
That's it.
9:38
Pre-seed, seed, Series A, Series B, Series C, Series D.
9:38
That's it.
9:38
It can come from anybody.
9:38
It can come from Mom, it can come from Dad, it can come from your aunt, your uncle, a venture capitalist.
9:38
What is venture capital?
9:38
Venture capital is a vulture that sits in an office telling you how smart they are and how they're going to give you money in exchange for too much of your company to give you too little support to end up trying to push you to do things that you don't want to do just so they can get their money back.
9:57
But other than that, I have no problem with them.
10:01
At Sea Wearing, what is the most common mistake you see entrepreneurs make?
10:01
They focus completely on raising money.
10:04
The less money you raise, the better.
10:06
Because that's how you own more of your company.
10:08
Because when you raise money, you have to give away part of your company.
10:11
So the biggest, most important rule is understanding that raising money is not an accomplishment, it's an obligation.
10:23
At Mahavir Jain, what are the three daily habits or practices that have significantly contributed to your success?
10:29
Read, read, read.
10:29
Read, read.
10:35
You got to learn.
10:39
Two, be curious.
10:39
Things you got to always be curious.
10:45
You got to know what's up.
10:50
You got to stay on top of it.
10:50
Three, be agile.
10:50
Because the shit's changing, because you're learning all this new stuff that you're curious about, you always got to be agile and be able to adapt.
10:50
And for, ABS, always be selling.
10:50
You got to always be selling because that's the way businesses work.
10:55
You do those things, you're going to crush it.
10:57
And the fourth, that was a bonus.
10:59
I said three things, I can't count.
11:05
At Job Bass HD, what is the difference between cost per acquisition, CPA, and customer acquisition cost, CAC?
11:08
Well, let's just start with cost per acquisition.
11:17
This is the amount it cost you to acquire a customer.
11:17
Then there is customer acquisition cost.
11:17
That is your cost to acquire a customer.
11:23
So the only thing missing between these two is the equal sign between them to tell you that they are pretty much the exact same thing.
11:28
Typically what happens is people will go and advertise on a social media platform and they'll spend $1,000.
12:03
And after the week or whenever it is till it runs out, they'll look to see how many customers that they have.
12:03
Let's just say they have 100 customers.
12:03
Then you just do the math, 1,000 divided by 100 gives you, for all the math whizzes out there, $10.
12:03
Now, what is that $10?
12:03
That's your customer acquisition cost or cost per acquisition.
12:03
At Keep On Trucking 78, as a business owner, when is the time to call it quits, walk away, give up, sell, move on, cut your losses, you get the idea?
12:05
That decision typically is going to be made for you.
12:07
You can't pay your bills, you can't pay your employees, you can't pay your bank loan, and somebody's coming in and telling you, look, Mark, the game's over.
12:15
It's the worst feeling ever.
12:18
Just because the hits the fan and things are going wrong, that's never the time.
12:22
You only close up shop when you have no choice or if someone offers you so much money, it's just like, hell yes.
12:30
Then you look at selling.
12:32
Are you ready to take another step in your life?
12:33
Is the most important thing to you running that business regardless of how much it's worth, or is there so much money involved here that you can change your life?
12:41
Like when I sold my first business, I retired and bought a lifetime pass in American Airlines.
12:47
The most valuable asset to me wasn't the money, it was the time the money could buy.
12:51
You have to make your own decision on what's most important to you.
13:01
At GI16728893, did you ever want to give up?
12:59
What did you do to get out of the funk?
13:01
I remember when I started my first business, I had no sales and I remember being terrified.
13:06
I mean, the anxiety was through the roof, but I just, you know, reminded myself why I started and reminded myself that I made a shitty ass employee.
13:15
I was never going to be good at working for somebody else.
13:20
I was allowed to employee because I was a know-it-all, right?
13:17
I, I was an entrepreneur at heart and I always thought I had a better idea.
13:23
I worked for a bank.
13:25
I called up an executive VP, said we want to have a happy hour where you talk about what it's like to work at the bank.
13:31
I thought that was a really cool idea and I was taking initiative.
13:33
My boss brought me into his office, who the hell do you think you are?
13:38
Who gave you permission to do this?
13:39
You know, you just started here, what the?
13:41
I had a tear coming from, I mean, I never felt anything like that before and I just knew then that I was not destined to be an employee.
13:56
At Obi-Wan Kenobi, why the is medicine so expensive in America?
13:53
This is bull.
13:56
Yes, it is, Obi-Wan Kenobi.
14:02
And what I've learned in disrupting industries, when an industry's been doing it the same way for decades, that's one green flag for me to get in.
14:07
When that same industry does everything possible to complicate the business so no one else can get in, that's a second green flag for me to get involved.
14:16
Third, when it's so complicated, but when you look at it, it's like this is a simple business.
14:21
You know what the prescription drug business really is?
14:25
Somebody makes the drugs, somebody buys the drugs, someone prescribes the drugs, someone sells the drugs.
14:32
That is it.
14:32
That's the whole prescription drug industry.
14:35
And so when I saw that, I'm like, this shit's going to be easy, not cheap, but easy to do.
14:45
And so we started costplusdrugs.com in January of 2022.
14:45
When there's an industry that's doing it the same way forever, making things more complicated and everybody hates them, that is the best place to start a business.
14:55
So you too can dunk on whoever you choose to dunk on.
14:58
So those were all the questions for today.
15:02
Thanks.
15:02
There were some amazing questions.
15:04
I really enjoyed them.
15:04
If I can leave you with any words, the only reason to consider being an entrepreneur, starting your own company, investing, is to make your life better.
15:11
Just enjoy your time, have fun, do your best.
15:13
Good things will happen.
15:15
Thanks for watching Mogul Support.