Mark Cuban is living life as an antithesis to all the billionaires – he’s giving back to the people rather than blasting off to the moon.
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We are used to seeing billionaires funding space programs, but never giving back to the people on Earth. Elon Musk and Jeff Bezos hog the limelight about where their money goes, but Mark Cuban is living life differently. Getting rich from tech as most billionaires do, Mr. Cuban diversified his portfolio quite a bit. From owning a successful sports franchise to funding many companies on the hit show “Shark Tank”, Cuban has never shied away from investing in the right opportunity.
But one thing he always looks for is an opportunity to disrupt an industry. He’s got a lot of experience from investing and hearing endless pitches on Shark Tank, but nothing is as huge as Cost Plus Drugs. This man has not spent any money on marketing, yet the reach is there for everyone to see. In an industry that sees a 100% mark up as minimum profit margins, Mark has gone for an industry disrupting 15%.
Diabetes medicine which is about 75 dollars, is sold on his online store for 6 dollars. Life-saving drugs now are cheaper than a sandwich from Panera Bread. That is exactly how it should be, like how free health care should have been.
Mark Cuban is taking this role in his new company seriously – he may have to let some of the Dallas Mavericks duties go
Concentrating on going against a trillion-dollar industry takes its toll – Mark Cuban is feeling it. He’s always been hands-on with everything Dallas, but he will have to let some of the duties. He still wants that success with the team, but also needs to fight his former friends turned enemies now. For the prices he’s offering, only a person with his kind of influence can manage to hold out this long.
It’s only been six months since the company launched – there have been multiple stories of happiness shared by happy customers. Given his promise to not spend any money on marketing, generic medicine is now the way to go. Health care is an increasingly touchy subject for the citizens of America, and he’s brought about a radical change in this industry.
Does the country need something like this? Yes, it needed it much earlier. Can Cuban sustain it? That is a question that everyone has, and is waiting to see if the answer will be yes. In a scenario where insurance also cannot cover medicines that could save lives, someone like this was needed. Right now the company will buy directly from third-party suppliers and, soon, manufacture its products. The stronghold Big Pharma has on the industry should be broken – Mark Cuban is the person to do it.
