Billionaire businessman Mark Cuban sparked a heated discussion with venture capitalist David Sacks on his stance regarding diversity, equity, and inclusion (DEI) in business.
What Happened: On Tuesday, Cuban and Sacks had a heated discussion over Donald Trump‘s recent New York fraud trial where the former president was fined $355 million along with a three-year ban on business in the state.
Cuban, who sided with the judge’s ruling, cited how Trump’s misrepresentation of numbers was “equivalent of saying he [Trump] never had any intention to be honest about the value of anything.”
He also added that the judge’s decision was in line with protecting citizens and future leaders of New York.
Sacks replied to Cuban saying, “Mark, ingratiating yourself with the commissars by supporting their show trials and defending their DEI lies is a smart short-term strategy. But eventually, they'll come for your fortune too if you let them get powerful enough.”
Cuban responded to Sacks, “Who exactly are the commissars [David Sacks]? I seriously don't know. Hard to ingratiate myself if I don't know who they are.”
Why It Matters: This exchange comes after Cuban’s public support of DEI in business. Cuban argued that diversity offers a competitive edge and took a stand against those viewing it negatively, emphasizing that he hires based on capabilities rather than race, gender, or religion.
The discussion also unfolds amidst recent criticism of DEI frameworks by other business magnates, such as Elon Musk’s criticism of Amazon’s DEI policies, which Cuban publicly acknowledged.
In an earlier incident, Cuban clashed with GOP Sen. J.D. Vance (R-Ohio) over DEI policies and affirmed his belief in the right of capitalists to establish firms that could rival those viewing DEI negatively.
Photo: Courtesy of Gage Skidmore on Flickr
Engineered by Benzinga Neuro, Edited by Pooja Rajkumari
The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
