After Shark Tank, Mark Cuban Just Wants to Break Shit—Especially the Prescription Drug Industry
After Shark Tank, Mark Cuban Just Wants to Break Shit—Especially the Prescription Drug Industry
Billionaire Mark Cuban is done with his hit TV show, but he’s still invested in fighting pharma’s middlemen, being a dad, and needling Elon Musk.
My single biggest Reddit pet peeve was how they would idolize people who absolutely did not deserve it (see also: old Elon Musk). And lately they’ve been giving Mark Cuban the same treatment. I’m sad to see it happen on Lemmy as well.
Mark Cuban made his billions by quite literally scamming Yahoo. Like say what you will about Bill Gates and Steve Jobs, but at least they made products that people actually use. Then he followed the Trump path of making a shitty reality TV show which grossly inflated his business acumen. And now people are treating him as a saint for pedaling a new company that’s supposed to fix the pharma industry. First of all, he’s not doing this out of charity - it’s 100% strictly a business venture. And second, you know what would fix drug prices? Single payer healthcare. Like there are literally dozens of other countries that sell these same drugs for nothing because they have nationalized healthcare.
Exactly, the free market cannot fix problems caused by the free market.
How did he scam Yahoo?
His dotcom-era company was a “radio on the internet” website (this was actually parodied in HBO’s Silicon Valley). As you’ve probably noticed, no one listens to radio on the internet because the entire point of radio is that it can be accessed by anyone with a radio signal, which is much easier to obtain than an internet connection and more importantly is free.
He then sold this doomed company to Yahoo. But not only that, he actually shorted the Yahoo stock that he received in compensation because he knew that his company was vaporware and as a result he got paid twice (once for the sale and then later because Yahoo shares tanked when they had to entirely write off his acquired company, among other dumb investments they made).
How about breaking Citizens United
Stop idolizing billionaires. They don’t care about you.
Mark Cuban could have chosen to do much more profitable and scummy things than start a low cost generic drug company
He should do the "pay my fair share of taxes" plan instead
Maybe he should try to fix shit instead
Any journalist who unironically talks about "disrupters" should be forcibly sterilized.