Mark Cuban on PE Obama’s First Mistake

Mark Cuban, creator of and owner of the Dallas Mavericks, may be blocked from buying the Chicago Cubs, but certainly is still speaking his mind when it comes to the importance of entrepreneurism. In his recent post he writes about what he sees at President-elect Obama’s first mistake, i.e., not have an entrepreneur on his team of economic advisors.

Here is a sample:

If we are going to solve our current economic problems, our President needs to get first hand information on the impact his proposed policies will have on real Joe the Plumbers. People who are 1 person companies living job to job, hoping they get paid on time. We need to know what the impact of his policies will be on the individually owned Chrysler Dealership in Iowa. The bodego in Manhattan. The mobile phone software startup out of Carnegie Mellon. The event planner in Dallas. The barbershop in LA. The restaurant in Boston.

Entrepreneurs that start and run small businesses will be the propellant in this economy. PE Obama needs to have the counsel of those who will take the real risk inherent in creating companies and jobs. Those who put their money and lives on the line with their business

Emphasis his and Amen, Brother Mark!


  1. Yes, but make sure it’s an entrepreneur who was a “Joe the Plumber” and who hasn’t lost the common touch.

    Successive governments in the UK have “employed” entrepreneurs who are big business owners (Richard Branson, Stelios Haji-Ioannou of EasyJet, etc)but have forgotten/aren’t interested in the small business any longer. They do, however, L-O-V-E the publicity.

    Sorry for the cynicism but in the UK we’ve had nothing but lip-service for years.

  2. I used to STRONGLY agree with Mark’s statement “Entrepreneurs that start and run small businesses will be the propellant in this economy.” I believe this is true today. But it could change within another 365 days.

    Exactly as Carol says, health care is a giant root of a problem that could run VERY deep and change the dynamics of sm biz driving the US business future.

    It has been crossing my mind over the last month, as my small business’ health insurance premiums racheted up ANOTHER 41% that I, an employer of 4 full-timers, am at risk of, within another year or so, having to possibly cease offering a benefit that is CRITICAL in my ability to attrack the talent that my company needs. Without health insurance, or with terribly watered down benefits, I could no longer compete for the talent needed to provide the services my company provides.

    This one seemingly small thing (affordable health ins) may cripple small businesses to the point of extinction of many. Is that really what the US wants to see?

    It is time to get innovative!

  3. @Carol and @Michelle,

    I could not agree more. This is one area where McCain had it over Obama. I fear, however, that the election will ignite another call for socialized medicine. I do not think it will come to fruition, however, it will delay any real change that is desperately needed.

    McCain’s idea was on the right track, we need to eliminate the corporate tax benefit for insurance and allow each individual to buy health insurance on their own. We do this with automobile and life insurance already.

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