'Most People Don't Have The Balls To Do It,' Says Mark Cuban, Praising Musk For Going 'All In' With His Own Money For His Startups

Billionaire investor Mark Cuban had high praise for Elon Musk last week, calling him possibly the greatest builder in modern manufacturing, while also challenging Musk’s stance on tariffs.

In a post on X, Cuban addressed Musk directly, writing: “Hey @elonmusk, you may be the greatest manufacturing builder of all time. Did you need protective tariffs in order to manufacture in the USA? Or were private capital, your investment, and local and federal government incentives the difference?”

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He added, “What I respect most about you is that you go all in with your own money for your startups. Most people don't have the balls to do it.”

Hey @elonmusk , you may be the greatest manufacturing builder of all time. Did you need protective tariffs in order to manufacture in the USA ?

Or were private capital , your investment, and local and federal government incentives the difference ?
BTW, what I respect most…

— Mark Cuban (@mcuban) April 3, 2025

Free Trade vs. Full Tariffs

Cuban’s comments came as the debate between free trade and protectionism heats up again. President Donald Trump recently announced sweeping new tariffs, including a 20% tax on imports from the European Union. The move rattled financial markets, sending stocks from major tech companies into a tailspin. Tesla TSLA, one of Musk’s companies, saw a double-digit drop.

Musk responded publicly by advocating for zero tariffs and promoting the idea of a free trade zone between Europe and North America. Speaking at The League Congress hosted by Italian Deputy Prime Minister Matteo Salvini, Musk said such policies would benefit consumers and global markets.

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Cuban acknowledged the benefits of Musk’s approach. “0 tariffs (free trade as Elon proposes) makes it cheaper to make overseas than it was under Biden,” he wrote. “Which is great for consumers.”

But Cuban also warned about the consequences of going too far with protectionist policies. In a follow-up post, he explained that if Trump's main goal is to reduce the deficit, heavy tariffs and spending cuts could be the easiest path. The idea is that this economic pressure might force the Federal Reserve to lower interest rates.

“The problem with the strategy is that tariffs at this level are incredibly inflationary,” Cuban said. “So the Fed can't just cut rates, it would make inflation worse. And slow the economy down even further.”

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Who’s Going To Win?

Free Trade @elonmusk vs Full Tariff @realDonaldTrump and @howardlutnick is going to be fascinating to watch. They are the exact opposite sides of each other.

0 tariffs (free trade as Elon proposes ) makes it cheaper to make overseas than it was under Biden. Which is great for…

— Mark Cuban (@mcuban) April 6, 2025

Despite the turmoil, Cuban sees Trump's plan as likely to win out. “Free Trade @elonmusk vs Full Tariff @realDonaldTrump and @howardlutnick is going to be fascinating to watch. They are the exact opposite sides of each other,” he posted. “My money is on @realDonaldTrump winning.”

While Musk pushes for open global markets, Trump remains firm on his belief that tariffs are necessary to protect American industry. He called the policy shift an “economic revolution” on Truth Social and encouraged Americans to “hang tough” despite market volatility.

Answering to someone asking what the real strategy was, Cuban closed the loop by posing a hypothetical: What if China and other nations offered zero tariffs on U.S. goods, with no manipulation or tricks, if the U.S. did the same? “I'll ask you,” he wrote. “Should he say yes?”

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