If Mark Cuban Were President: His Decade-Old Plan To Fix The Economy, Starting With The 'Risk Factor That Hurts Everybody'

After selling a stake in the Dallas Mavericks and announcing a departure from "Shark Tank," Mark Cuban was viewed as a potential presidential candidate or a billionaire with a future in politics.

Cuban brushed off the notion, and past comments have shown that he has never wanted to be president, but has plenty of ideas for anyone who does.

What Happened: Cuban is not one to shy away from giving out business or personal advice and in 2015 he shared political advice that could still ring true today.

At the 2015 Inc. iCONIC Chicago conference, Mark Cuban took a lighthearted jab at politics, referencing his role as the president in Sharknado 3, one of his dozens of role in television shows or in movies.  

“And by the way, if you all watch Sharknado 3, I am the president,” Cuban quipped.

But soon after, the conversation turned serious as he shared what he would do if he truly had the power to enact change for entrepreneurs.

Cuban made it clear that one of his top priorities would be addressing income inequality, an issue he believes poses significant risks to businesses.

“Deal with income inequality. Because it's creating a risk factor that hurts everybody,” he said.

Cuban explained that the potential for riots or instability in areas where businesses operate creates an “unquantifiable risk,” which harms the entire economy.

Did You Know?

• Congress Is Making Huge Investments. Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool

Another issue Cuban would tackle is the convoluted patent system, which he argued stifles innovation and fosters unnecessary lawsuits. “Every company is getting sued for patents for the most ridiculous dumb s**t ever,” he stated, expressing frustration with how modern patent wars differ from the earlier days of tech competition.

Cuban pointed out that in the 1980s, when Apple had been in business for over 10 years, the company had just one patent.

Cuban also called for simplifying the process of starting a business, advocating for reducing bureaucratic hurdles that entrepreneurs face.

“I would simplify the administrivia to start a business. So there's a single form so you don't have to, you know, apply in every municipality or pay taxes in every municipality,” he said, emphasizing the need for streamlining to encourage more people to start businesses without getting bogged down by excessive red tape.

In Cuban's view, while taxes and other government regulations often draw complaints, they are not the primary barriers to entrepreneurship.

“You can bitch about taxes too high, you know, rent too damn high, whatever the case may be, it's not stopping anybody,” he remarked. Instead, he believes simplifying business operations and addressing systemic issues like income inequality and patent abuse would have a far greater impact.

For Cuban, his hypothetical presidency would focus on making the world safer and easier for entrepreneurs, ultimately fostering a more robust and equitable business environment.

Check This Out:

• Lawmakers Made Huge Investments This Year. Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool

This article was partially written using artificial intelligence and was reviewed by Benzinga editors.

Photo created with image from Gage Skidmore on flicker and Shutterstock.