Mark Cuban, owner of the Dallas Mavericks and Chairman of HDNet, is a billionaire. He’s an entrepreneur and he’s successful. So when he comes up with a new idea of how we can save the economy and get out of the mess that we’re in, it might be worthwhile to listen.
Mark Cuban has decided to get in the game by supporting new business ideas that will create jobs. He offers to fund any good business ideas with his own cash. His stimulus plan is based on Venture Capital. He calls this, “an open source funding environment.”
Cuban has posted some “Rules of Engagement” on his blog. One of his first rules is that your business cannot generate revenue from advertising. He believes that getting paid for something you sell is the only way for a business to stay profitable, stating that that is “the only way to stay profitable for a short period of time.” He also demands that the business break even in 60 days and make a profit in 90 days.
If you are a young person with a great idea this could be a good opportunity for you.
http://blogmaverick.com/2009/02/09/the-mark-cuban-stimulus-plan-open-source-funding/
What do you think? Can this idea work?
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I clicked through to Mark’s site to look at the details. While the opportunity to get start up funding is attractive, he seems to be assuming a level of sophistication re: business planning that is probably beyond lots of new entrepreneurs. And, it seems you are required not to have any kind of protection for your intellectual property. The combination of those two elements seems like a big limitation.
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