Billionaire Mark Cuban is known for a few things: his investments in “Shark Tank,” his ownership of Dallas Mavericks, and his ongoing thoughts on cryptocurrency.
However, the modestly named Mark Cuban Cost Plus Pharmaceutical Company may just be the thing for which it has come to be famous lately. It’s easy to see why, too. Launched in January 2022 with co-founder Dr. Alexander Ochmyansky, the company’s concept was based on a single idea aimed at disrupting the prescription drug industry.
“We started Mark Cuban Cost Plus Pharmaceuticals because every American should have access to safe and affordable medicines. If you don’t have insurance or have a high-deductible plan, you know that even basic medicines can cost a fortune. Many people spend huge amounts of money Every month just to stay healthy. No Americans should suffer or worse – because they can’t afford essential medicines,” says the company’s website.
Since its launch in January, Mark Cuban Cost Plus Drug has attracted 88,000 followers on Twitter, many of whom have been thrilled that the service gives them access to drugs they previously needed but couldn’t afford.
Cuban has more big ideas
In a recent podcast, Cobain did a podcast and organizational psychologist Alan Grant, in which the “Shark Tank” entrepreneur shared a variety of insights across many topics, including the pharmaceutical industry, the future of work, and about the worst career advice he’s ever heard.
When asked by Grant about the concept of free agency and how it would affect the future of the world of work, Cuban’s view was that jobs are a “balance in your time.”
“I’ve been saying that for years, you know, where it’s effective, how much can I get an hourly wages for every job, whatever it is. And then how do I use that money effectively, and arbitrate that money to get people to do things for me that cost Less, so I have most of the time available to myself. It’s what we’re actively trying to do in our lives,” Cuban said.
“You know what the place for my earnings would be that I need to be able to free myself, do the things I love to do so I get fulfillment in my life. It’s an equation on some level. It’s balancing on your earnings against your time. Maybe a part of it is okay. I want some consistency. I want to reduce my risk. So I have no doubt about my earnings. Some people want an annuity in their earnings. Some people are willing to take the risk, and value their time more. This is arbitrage.”
Cuban has also put his weight on the mistakes that startup founders make when they pitch their companies to potential investors.
“They’re thinking about what other people are doing and trying to connect with what’s going on in the market,” Cuban said. “If someone is promoting me, I don’t care what-and-so investing elsewhere. I don’t care about evaluating some other company that you think is a reason for companies I don’t invest in. You just survive with the cash flow. I don’t want to hear about your returns, right? Well? Because revenue doesn’t matter. I want to hear about the total margin dollars, the total margin dollars you have available to pay your bills, and your money.”
And when it comes to bad career advice, Cuban says “Follow Your Passion” is among the worst of all.
He said, “No, not at all.” “Follow your efforts. Nobody leaves anything they are good at. If you follow my passion, I will keep trying to play professional basketball.”
