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The big storyFor saleGetty Images; Jenny Chang-Rodriguez/BIOne of Tesla's biggest assets is its willingness to try new things, but its unique approach to sales is also what's giving it headaches. AdvertisementA key issue is Tesla's inability to evolve its sales tactics as the EV market rapidly changes . Business Insider's Grace Kay spoke to more than a dozen current and former employees in Tesla's sales division about how the company has tried to kick-start its sales unit . Not unlike its cars, Tesla's sales approach is innovative compared to the rest of the automotive industry. It's a great strategy when the cars sell themselves — which Teslas did for a while — since you don't need to maintain a traditional sales structure.
Persons: , Jenny Chang, Rodriguez, It's, Elon Musk, Insider's Grace Kay, There's, Teslas, Justin Sullivan, Fintechs, chatbots, Rebecca Zisser, Goldman Sachs, James Knightley, Andy Jassy, Mike Blake, Chelsea Jia Feng, Venu, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Business, EV, Tech, Citadel, ING Economics, Big Pharma, Pfizer, Novo Nordisk, Department of Labor, Chevron, ExxonMobil Locations: New York, London
For the first time in two years, Mark Cuban is selling a portion of his collection of non-fungible tokens — and he's already made a little over $39,000. Most notably, he sold his Pudgy Penguin NFT for $30,950. Cuban could rake in even more money for his digital collectibles. Cuban has been a longtime collector of the virtual tokens and still has nearly 1,600 items in his cryptocurrency portfolio. Like other physical collectibles, such as comic books or postage stamps, NFTs may hold sentimental value to the collector.
Persons: Mark Cuban, NFT, NFTs, they're Organizations: ETH, Cuban, CNBC Locations: OpenSea
Read previewPresident Joe Biden had a rough showing at the presidential debate on Thursday, but Mark Cuban says he'd still hire Biden to run his businesses instead of former President Donald Trump. Morgan asked Cuban if he would employ Biden to run any of his companies, after Cuban said he'd still vote for Biden in spite of that bad debate performance. But while Trump is "obviously a good salesperson," Cuban said that he didn't think he fared well on other fronts. Related stories"I don't know if he is a voracious reader and learner, but I have read about him discussing books he has read," Cuban added. AdvertisementRepresentatives for Biden and Trump did not immediately respond to a request for comment from BI sent outside regular business hours.
Persons: , Joe Biden, Mark Cuban, he'd, Biden, Donald Trump, Piers Morgan, Morgan, Cuban, Trump, — Mark Cuban, I'm, Harris, It's Organizations: Service, Biden, Business, Trump, BI, Democratic Locations: British
Apple co-founder Steve Jobs' dad Paul taught him how to build a fence around their home in Mountain View, California. The process taught him how to be detail-oriented, a mindset he enforced at Apple, Jobs' biographer Walter Isaacson told CBS's "60 Minutes" in 2011. As Jobs told Isaacson, "He loved doing things right." At Apple, Jobs made sure every detail was of the highest quality, Isaacson wrote in the "Steve Jobs" biography. "Give every f---ing ounce of effort you can; to give the best performance you can give," Johnson wrote in a 2017 Instagram post.
Persons: Steve Jobs, Paul, Jobs, Walter Isaacson, CBS's, You've, Isaacson, Mark Cuban's, Norton, Cuban, wasn't, Dwayne, Johnson, Sara Blakely, Sara Blakely's, CNBC's, Blakely, Goofy, Marc Randolph, Randolph, Tony Hawk, Frank Organizations: Apple, Playboy, CNBC, Disney, Netflix, LinkedIn Locations: Mountain View , California, Pittsburgh, Cuban
Cuban started the practice after selling his first company, a software firm called MicroSolutions, for $6 million to CompuServe in 1990. He took 20% of the total sale price, he tells CNBC Make It, and paid it out to 80 employees — which would equate to $15,000 per staffer, if distributed equally. "It was f---ed up," Cuban told Barstool Sports' "Pardon My Take" podcast in 2020. The business bounced back, and Cuban sold MicroSolutions five years later, making him a millionaire. "It was all about fun," Cuban told "The Draymond Green Show" podcast, in an April episode.
Persons: Mark Cuban, I've, Cuban, Cuban's, MicroSolutions, Barstool, CBS's, he'd, Adelson, Dumont Organizations: Yahoo, CompuServe, CNBC, HDNet, NBA's Dallas Mavericks, Mavericks, Vegas Sands Corporation, Associated Press, Forbes Locations: Cuban
CVS Health on Wednesday reported first-quarter revenue and adjusted earnings that missed expectations and slashed its full-year profit outlook, citing higher medical costs that are dogging the U.S. insurance industry. The drugstore chain expects 2024 adjusted earnings of at least $7 per share, down from a previous guidance of at least $8.30 per share. The company said its new outlook assumes that higher medical costs in its insurance business during the first quarter will persist throughout the year. Medicare Advantage, a privately run health insurance plan contracted by Medicare, has long been a key source of growth and profits for the insurance industry. Excluding certain items, such as amortization of intangible assets and capital losses, adjusted earnings per share were $1.31 for the quarter.
Persons: LSEG, Karen Lynch, Caremark, Tyson Foods, CVS's Caremark, Cuban's Organizations: CVS Health, CVS, Aetna, UnitedHealth, Medicare, LSEG, Blue, Amazon Pharmacy, Oak Street Health Locations: California
Having an idea that you believe could become a lucrative business can bring a rush of excitement. Forvr Mood products can be found in Sephora stores nationwide, and sell direct-to-consumer via their website. Forvr Mood sold $700,000 worth of products within the first four hours of its launch, the company told Women's Wear Daily. "And when we started Forvr Mood, we started with candles and I was like, if [customers] are not here for it, I will be burning these candles by myself. Still, just because you're passionate about something doesn't mean it's a good business idea in and of itself.
Persons: Jackie Aina, Aina, fiancé, Denis Asamoah, Women's, DeAndre Brown, We're, Mark Cuban's Organizations: Amazon Insights
And yes, we know Cuban's tax bill won't go directly to paying for these programs, but for the sake of context, here's what his taxes could have funded. Cuban's $275.9 million contribution to the US government could fully back the department with nearly half still left over. Cuban's million could easily cover congressional paychecks and even account for President Joe Biden's $400,000 salary and Vice President Kamala Harris' $235,100 salary. So, Cuban's $275.9 million wouldn't quite be able to cover the potential three-hour DOD cost at $291,095,890.41. While $275.9 million might not seem like it would make a dent in that astronomical number, every little bit helps!
Persons: Mark Cuban, Donald Trump, , Joe Biden, Jill Biden, Joe Biden's, Kamala Harris, It's Organizations: Service, Trump, Business, Government, Fund, NTSB, Transportation Safety Board, Transportation, DOD, Department of Defense, CNBC
Mark Cuban has a simple tactic for inspiring young kids — and getting them to think about their own limitations, or lack thereof. "I get emails [from] kids around the world, because 'Shark Tank' is shown everywhere, asking me business questions," Cuban recently told the "Lex Fridman Podcast." The tactic is as simple as pointing to a lightbulb or chair. "When I go talk to elementary school kids, one of the things I do, I say, 'OK, let's look around. Plus, sign up for CNBC Make It's newsletter to get tips and tricks for success at work, with money and in life.
Persons: Mark Cuban, Lex Fridman, Mary Murphy, Murphy, that's Organizations: Indiana University, CNBC, Cuban, CBS
On television, Mark Cuban is a savvy and patient negotiator. But when the entrepreneur was a newly minted billionaire with cash to spend, he used a different tactic to buy the NBA's Dallas Mavericks. "It was all about fun," Cuban, 65, told NBA player Draymond Green's podcast, "The Draymond Green Show," on Monday. The following year, Cuban — a self-proclaimed basketball junkie — acquired a majority stake in the Mavericks for $285 million, from real estate developer Ross Perot Jr. The moment the deal was signed, Cuban hit the ground running, he told Green: "It was done.
Persons: Mark Cuban, Draymond, , Ross Perot Jr, Green Organizations: Dallas Mavericks, Yahoo, Mavericks Locations: Cuban
That same day, he took off his watch and threw it away, he said at a SXSW panel earlier this month. "This time wasn't spent to learn about what my dad did, but to learn that his job didn't have a future," Cuban said. "[Buying a private plane] was my all-time goal because the asset I value the most is time, and that bought me time," Cuban told told Money in 2017. Today, Cuban wears an Apple Watch to track his health metrics, he said at SXSW — but it hasn't changed his stance on time. "I wanted to make enough money so I didn't have to respond to anybody else," Cuban said in a recently released MasterClass course.
Persons: splurging, Mark Cuban, wasn't, Cuban's, Cuban, hasn't Organizations: CNBC, Yahoo, Guinness, World Records, Cuban, Apple Watch, SXSW, Dallas Mavericks, Cost Locations: Pittsburgh
The 65-year-old billionaire entrepreneur weighed in on the common leadership style in a recent post on social media network X. If you find yourself constantly micromanaging the people around you, something's wrong, Cuban noted. Trust the process or fix what's broken if you always have to micromanage," Cuban wrote in his March 11 post. Cuban's post was a response to a thread about counterintuitive leadership principles written by Ofek Lavian, CEO of financial tech company Forage. In that thread, Lavian referenced a 20VC podcast episode from last year featuring Shopify CEO and co-founder Tobi Lütke, who embraced micromanaging.
Persons: Mark Cuban, Cuban, Ofek Lavian, Tobi Lütke, Lütke, It's, they'd Organizations: Trust Locations: Cuban
The billionaire said Trump "will tell you his snake oil will cure everything that ails you." I'm voting for Biden/Harris over Trump all day every day," Cuban told Axios on Tuesday. Cuban told Axios that when it came to Trump and Biden, it was a match-up between "the snake oil salesperson vs the incumbent, traditional politician." Musk mocked Cuban on Monday and said Cuban would vote for Biden even if the president "were a flesh-eating zombie." He can do what he wants," Cuban said when asked about the reported meeting between Musk and Trump.
Persons: Mark Cuban, Joe Biden, Donald Trump, Trump, Biden, Cuban, , Harris, Axios, Joe Biden's, he'd, Cuban's Biden, Elon, Musk, didn't, Biden's, Tesla, I'm, Andrew Ross Sorkin Organizations: Service, Biden, Trump, Cuban, Bloomberg, Elon Musk, The New York Times DealBook Summit, The Times, Musk, GOP, Republicans Locations: Florida
The 65-year-old billionaire says he now regrets stressing about his age every time he hit a big numerical milestone. Just one thing: I wish I hadn't thought I was getting old at every milestone [birthday]… 30,40,50," Cuban wrote in a recent post on Threads. You may need to change your habits as you age to stay healthy, Cuban noted. Rather than getting frustrated about those changes, embrace them, Cuban wrote on Threads. Disclosure: CNBC owns the exclusive off-network cable rights to "Shark Tank," which features Mark Cuban as a panelist.
Persons: Mark Cuban, , Cuban, Becca Levy, Cuban's, Steve Kamb, Yoav Bergman, Bergman, he's, Recode, That's Organizations: Dallas Mavericks, Yale University, Foundation University Islamabad, CNBC Locations: Pakistan, Cuban
Billionaire Mark Cuban built his career using advice his dad gave him at age 14: Time is your most valuable asset. Sometimes, his dad brought him along to sweep floors — and, more specifically, show him the limits of working for someone else. "This time wasn't spent to learn about what my dad did, but to learn that his job didn't have a future," says Cuban, 65. "I wanted to make enough money so I didn't have to respond to anybody else," Cuban said in a MasterClass released last week. "I could make my own schedule and live my own life the way I wanted to do it."
Persons: Mark Cuban, Norton, wasn't Organizations: CNBC Locations: Pittsburgh, Cuban
That's where Mark Cuban and his college friend Todd Wagner were in 1995, eating lunch and talking about Indiana University basketball. "There's got to be a way that we can listen to Indiana University basketball ... over the internet," Cuban recalled the two of them saying, during a MasterClass course released Thursday. Cuban and Wagner sold the company to Yahoo for $5.7 billion in stock in 1999. It remains Cuban's most lucrative entrepreneurial endeavor, topping the $6 million sale of his first company, software business Microsolutions, in 1990. Disclosure: CNBC owns the exclusive off-network cable rights to "Shark Tank," which features Mark Cuban as a panelist.
Persons: Mark Cuban, Todd Wagner, There's, Cuban, Wagner, Broadcast.com, he's Organizations: Ivy League, Indiana University basketball, Yahoo, Hoosiers, Cost, CNBC Locations: Dallas, Bloomington , Indiana, Broadcast.com, Cuban
Read previewRecently, Mark Cuban learned that if you're searching for enlightenment or, at the very least, a stimulating debate on hot-button topics of the day, you may think twice about relying on Elon Musk's X. Cuban told The Wall Street Journal that the reaction didn't come to him as a surprise. "Twitter isn't real life," Cuban told the Journal. AdvertisementIn an X post on Saturday, Cuban said he's still on X "because it's more fun and interesting to argue with people who disagree with me." Cuban didn't make any suggestions when asked if there were any changes he would want to see on the platform.
Persons: , Mark Cuban, Elon, Musk, Cuban, X, he's Organizations: Service, Elon Musk's, Cuban, Commission, Business, Dallas Mavericks, NBA, Wall Street Journal, Elon, Twitter Locations: Cuban
"To spend more time with my family and because I believe the next wave of revenue generation is around real estate and entertainment and those aren't my strengths," the billionaire responded. Cuban has never been shy about pointing out where his strengths lie, saying in the past that he is "really, really, really good at sales." Those pursuits make more sense for the Adelsons, who have a long history in the entertainment, casino and real estate space, Cuban said in a pre-game interview on Dec. 27th. It's because of their real estate empires that they've built," Cuban said. It's been hard enough learning the pharmacy and basketball business, let alone trying to learn real estate as well."
Persons: Mark Cuban's, it's, Miriam Adelson, Cuban, Adelson, It's, Sheldon Adelson Organizations: Dallas Mavericks, NBA, Cuban, Twitter, ESPN, Las Vegas Sands, Forbes, Vegas Sands, Mavericks, CNBC Locations: Las Vegas, Texas, Cuban
Mark Cuban once pictured himself running a major corporation — until he started his first job out of college. The experience "sealed" something he probably already knew, Cuban told CNBC Make It via email: If he wanted to run a company, he'd likely have to build his own. "I was a lousy employee because I was a know-it-all," Cuban told Wired last year. But not every prospective entrepreneur is as successful as Cuban, who launched a software company called Microsolutions in 1983 and kept it afloat through some turbulent early years. Cuban's second business, Broadcast.com, was acquired by Yahoo for $5.7 billion in 1999.
Persons: Mark Cuban, Cuban, Trevor Noah's, unkindly, he's, didn't, he'd Organizations: , University of Indiana, Mellon Bank, CNBC, Software, Wired, Yahoo Locations: Pittsburgh, Cuban, America, Dallas
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. "I try to do everything by email — so then I'm in bed for an hour chilling, doing my emails, responding to anything that's urgent." "I'm on my phone or my PC all day, every day," he said. The "Shark Tank" star is known for his intense work ethic, once advising people to "work like there is someone working 24 hours a day to take it all away from you." Cuban is leaving "Shark Tank" after season 16 concludes in 2025 after joining the show in its second season in 2011, so he can spend more time with his family.
Persons: , Trevor Noah's, Noah Organizations: Service, Business, White House
Read previewMark Cuban has criticized X as an "echo chamber" for its billionaire owner, Elon Musk. The two billionaires have been arguing since Cuban posted a series of X posts defending such policies against heavy criticism from Musk. This story is available exclusively to Business Insider subscribers. He said X was set up to be "Elon's little echo chamber that rewards people that he rewards." Representatives for Musk did not immediately respond to a request for comment from Business Insider, made outside normal working hours.
Persons: , Cuban, Elon Musk, Trevor Noah, Musk, Chip Wilson, Lululemon Organizations: Service, Cuban, Business, Forbes Locations: Cuban
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewI recently learned that Mark Cuban, the billionaire and former owner of the Dallas Mavericks basketball team, bought an entire "ghost town'" called Mustang for about $2 million in 2021. Mustang is about an hour away from the part of Dallas where I live. But until now, I had never come across it — and it appears that almost nobody in my circles had either. Cuban bought Mustang from principal owner Marty Price, a Dallas attorney and devoted Mavericks season ticket holder, according to NBC News, who spoke with Mike Turner, a real-estate agent who brokered the deal.
Persons: , Mark Cuban, Forbes, Marty Price, Mike Turner, Price, Turner Organizations: Service, Dallas Mavericks, Business, Mavericks, NBC News, New York Times, Google Locations: Dallas
Pharmacies are changing how they get paid, and Walgreens wants a piece of the action. It's a departure from the traditional, complicated way drugs are paid for, and proponents say it could make drug pricing more transparent and predictable. It's not a given patients will pay less for drugs at the pharmacy counter under this kind of model. These companies are taking cues from Mark Cuban's Cost Plus Drugs, which is starting to gain traction in the market. The big question is whether Walgreens can compete with CVS and other pharmacies in delivering those extra pharmacy and healthcare services.
Persons: Tim Wentworth, Mark, Wentworth, Borja, Hojas, they're, Caremark, Brian Tanquilut, Tanquilut, CVS, Cigna, Mark Cuban's, It's, Rosalind Brewer Organizations: Walgreens, Business, CVS Health, Getty, CVS, Jefferies, Health Locations: California
The new program includes a set markup for medication costs, a step toward drug pricing transparency. The retailer has been facing pressure from new models like Mark Cuban Cost Plus Drugs. They've been especially focused on pharmacy-benefit managers and the lack of transparency around how much drugs cost. How Mark Cuban changed drug pricingCuban's pharmacy buys drugs directly from manufacturers and sells them to consumers at a 15% markup, plus pharmacy fees. AdvertisementBut the announcement looks to be a step in the right direction for drug pricing transparency.
Persons: , Mark, Prem Shah, Mark Cuban, GoodRx, PBMs, Kroger, it's Organizations: CVS, Cuban, Plus, Service, Mark Cuban, Federal, US Federal Trade Commission, CVS Health, Kroger, Walgreens, Drug, Wall Street Locations: California
Adelson, 78, is a medical doctor and widow of Sheldon Adelson, the billionaire founder and owner of Las Vegas Sands who died in 2021. Adelson and her family own the Las Vegas Sands and Las Vegas Review-Journal, Nevada’s largest newspaper. It's doubtful Adelson would try to move the Mavericks to Las Vegas, especially since Cuban will retain responsibility over basketball operations. “There’s no doubt that there’s enormous interest in this (Las Vegas) market,” Silver said at the time. Silver will also likely address the potential sale at the In-Season Tournament in Las Vegas when he speaks there during the Dec. 7-9 weekend.
Persons: — Mark Cuban, MIRIAM ADELSON, Adelson, Sheldon Adelson, Patrick Dumont, Israel Hayom, Benjamin Netanyahu, Donald Trump, Adam Silver, ” Silver, Greg Abbott, Tilman Fertitta, , Trump, , Silver, Tim Reynolds, Ken Ritter, Paul Weber, ___ Organizations: LAS VEGAS, Dallas Mavericks, WHO, Las Vegas Sands, Sands, Las Vegas, Nevada’s, Republican Party, Vegas Sands, Expo, Apollo Global Management, NFL Raiders, Raiders, Bank of America, Mavericks, Cuban, NBA, TEXAS, Texas Sands, GOP, Capitol, Republican Gov, Texas Legislature, Texas GOP, Republican, NBC, Governors, Pro Locations: Las Vegas, Las, U.S, Oakland , California, Vegas, Texas, Austin , Texas
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