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Education

Billionaire Mark Cuban reveals the secret to his success comes down to one simple habit

It's all about your mindset.

via Gage Skidmore/Wikimedia Commons

Mark Cuban speaking at a business roundtable hosted by the Kamala Harris for President campaign at Ocotillo in Phoenix, Arizona on October 19, 2024.

Knowledge is one of the only things people can’t take from you. You can lose your possessions, relationships, and money, but what’s between your ears is pretty much forever. The great thing is that we can continue learning new skills and information throughout our lives. However, some folks get stuck because they feel they don’t have the drive to learn new skills or the ability to develop them. A lot of the time, these barriers were built by our own design.

Billionaire Mark Cuban says the key to success is the ability to continue evolving and learning new skills. Cuban is an entrepreneur, investor, owner of the Dallas Mavericks, and star of ABC's Shark Tank. In a 2021 interview with Men's Health, he explained the secret to his success.

What's the secret to Mark Cuban’s success?

- YouTubewww.youtube.com

"When you’re first starting—you may or may not have a job, you don’t have any money, you’re [uncertain] about your career. What I learned early on is that if I put in the effort, I can learn almost anything. It may take me a long time, but by putting in the effort, I taught myself technology. I taught myself to program. It was time-consuming—painfully so—but that investment in myself has paid dividends for the rest of my life. And the fact that I recognized that learning was truly a skill, and that by continuing to learn to this day, I'm able to compete and keep up and get ahead of most people. Because the reality is most people don't put in the time to keep up and learn, and that's always given me a competitive advantage.”

The empowering thing about Cuban’s advice is that it can help just about anyone, regardless of their economic status. In most cases, people can teach themselves valuable skills that can help them get a job or go out on their own with very little, if any, money. The key is to believe in yourself enough that you can learn the skill and to persevere, no matter the setbacks.

The problem is that we often hold ourselves back by telling ourselves that we aren’t smart enough or don’t have the talent to learn certain skills. When, in reality, we have everything we need to learn something new, we’ve just talked ourselves out of it.

What is a growth mindset?

Carol Dweck, a researcher who focuses on human motivation, says that it all comes down to whether we have a fixed or growth mindset. Those who have a fixed mindset and have a hard time picking up new skills believe that their skill set cannot be improved. They may think they're good at athletics but aren’t great at math, so they stick to sports instead of teaching themselves how the stock market works.

new skill, labor, woman in hard hat, drill press, factory A woman in a hard hat.via Canva/Photos

However, other people, such as Cuban, have a growth mindset and believe they can expand and change beyond how they see themselves in the current moment. “There’s another mindset in which these traits are not simply a hand you’re dealt and have to live with, always trying to convince yourself and others that you have a royal flush when you’re secretly worried it’s a pair of tens,” Dweck writes in Mindset: The New Psychology of Success. “The hand you’re dealt is just the starting point for development. This growth mindset is based on the belief that your basic qualities are things you can cultivate through your efforts.

Dweck believes that we can break into a growth mindset by harnessing the power of “not yet.” Let’s say you’ve always wanted to play guitar but told yourself that you’re “not musical,” so you haven’t picked up the instrument. The key is to say to yourself, “I’m not yet musical, but I have an eye on the goal of becoming so."

Adopting the “not yet” mentality helps you understand you're on a learning curve. "It gives you a glimpse into the future," Dweck said. Learn more about developing a growth mindset and achieving your goals in her TED Talk, “The Power of Believing That You Can Improve,” posted below:

- YouTubewww.youtube.com

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Pop Culture

What's accepted now but will be embarrassing in the future? Our readers shared 21 things.

Today's trend is tomorrow's cringe.

via Atypeek Dgn/Pexels, Kevin Bidwell/Pexels, Teknorat/Flickr

What's accepted now but will be embarrassing in the future?

We can all be sure that as society evolves, many things that seem normal today will be cringeworthy to people in the future, whether it’s our fashion, politics, civility, or how we treat the environment.

If we look back just 30 years ago, same-sex marriage was illegal, people routinely smoked in bars and restaurants and it was fashionable to wear platform sneakers.

So, when we look back on the world of 2024, there are bound to be many things that we’ll be embarrassed about in 30 years, especially when we are forced to live with the repercussions of the decisions we make today. On a lighter note, we’ll all also have clouds full of photos of ourselves wearing hairstyles and clothes that look utterly ridiculous in hindsight.

We asked the Upworthy community to share their thoughts by asking a big question on Facebook: "What's something that's accepted now that we'll be embarrassed about in the future?" Our readers responded with funny takes on current fashion and concerns about technology use and how we treat our fellow human beings.

Here are 21 things we accept today that we’ll probably be embarrassed about in the future.

More than a few current fashion trends will look silly in the coming years.

"Yoga pants. I love them to death, but I can easily see them as the parachute pants of tomorrow." — Deborah

"Barn doors in your house." — Joyce

"Tattoos all over the body." — Vicki

"People wearing socks and sandals." — Jeremy

"Wearing pajamas in public." — Ivy

"Huge, over-sized false eyelashes." — Patricia

Hopefully, people in the future will be more considerate when using technology than we are today.

"Walking around with your eyes locked on your phone. Or eating at a table with 4 people looking at their phone. One day, we will either fall off a cliff or realize life is what is happening off the screen." — Elise.

"Texting in the presence of another person." — Kate

We can also hope that in the near future, we will be able to solve many of today’s pressing public policy issues so that the next generation will live happier and healthier lives.

"Lack of healthcare for everyone." — Sharon

"Making the planet unlivable for human beings." — Karen

"Spending hundreds of millions of dollars of taxpayer's money to build a sports arena for a billionaire. Then charging the taxpayers outrageous amounts to attend events there." — Stacy

"How the US is systematically clawing back women's rights to decide what they do with their bodies. It's beyond shameful." — Jason.

"Allowing guns everywhere." — Amy

"That we drive fossil fuel-powered vehicles." — Heidi

Some people are concerned about the way students and their parents behave in modern-day America.

"Parents trying to run schools: yelling at teachers for their child’s poor performance, yelling at principals when their child gets in trouble, book banning based on an individual’s religious ideologies, etc." — Beth.

"Entitled children talking back to their parents and teachers." — Connie

"Cry rooms at universities where students can go and work out their anxiety and cry and be upset if their professor uses words that are too difficult for them. Universities are institutes of higher learning, not institutes of babysitting. That will be an embarrassment in the future, as it is an embarrassment to me and many others now." — Della

In 30 years, we may be embarrassed to look back on the level of general civility in 2024.

"Panic buying of toilet paper during the pandemic." — Tony

"Ageism. It’s everywhere, all the time, and no one seems to mind. No one is defined by the amount of time they’ve spent on the planet but it’s used as an identity and as a weapon (ask any teenager, 40-year-old woman, or retiree…). I can only hope that one day it will be a source of embarrassment that we were all so dismissive and judgmental." — Rosy.

"Human beings living on the street." — Andrea

"Torturous killing of animals for food." — Mae

While this list may seem like a litany of complaints people have about living in the modern world, it should give people hope. If we’ve overcome past embarrassments, today’s can be fixed as well.

This article originally appeared last year.

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Television

Trevor Noah boils down the problem with the mega-rich using 'unrealized gains' as money

"It's such a fun game that billionaires get to play."

The Daily Show/Teddy Schleifer/Twitter

Trevor Noah's talked about Elon Musk's Twitter purchase in a Between the Scenes segment.

In the era of the mega-billionaire, much has been made of how such gargantuan wealth is built and what kind of taxes on wealth are fair and unfair.

The intricacies of economics can make such questions a bit tricky both practically and ethically, but there's no question that billionaires get enormous tax breaks through loopholes in our tax system and through straight-up tax legislation favoring the wealthy.

For the average American who will never see so much as one percent of a billion dollars in our entire lifetime, wrapping our minds around the financial workings of extreme wealth is like trying to learn another language. The whole "here's how much money I earn, here's what I can write off, here's what I pay in taxes" thing is pretty straightforward, but not how the uber-rich life works. Wealth doesn't equal money in uber-rich-land—except when it does.

In a Between the Scenes moment from a 2022 episode of "The Daily Show," Trevor Noah highlighted the weird way billionaire wealth sometimes counts as money and sometimes doesn't in a segment on The Daily Show. In his signature funny-but-smart way, Noah broke down the hypocrisy of billionaires being able to treat their stock shares as money when it comes to buying businesses, but not when it comes to paying taxes.

"I'm by no means an economist, nor am I an expert on stock markets and all things finance-related, but you have to admit, a lot of what happens on Wall Street seems like a scam," he began.

He talked about how the stock market went up one day because of what Chair of the Federal Reserve Jerome Powell said about raising interest rates, then plummeted the next day because of people misinterpreting what he said.

"First of all, how does that happen?" he asked. "How are markets changing because somebody didn't read something or understand—and all of you at the same time? And secondly, why do markets do that?"

He said the nature of stock markets going up and down feels "scammy," and somehow we're supposed to be convinced that the stock market is good for us.

"I get it for people's retirements, and I get it for 401Ks and I understand those aspects of it," he said. "But I've realized there are so many things that are designed in such a slick, scammy way."

He gave Elon Musk's pending purchase of Twitter as an example.

"People argue that you cannot tax billionaires on the shares that they hold in a company because it is an 'unrealized gain," he said. Then he explained that he understands that argument because the shares haven't been sold, so there's no actual money in hand. "So you're worth the money, but you don't have the money…and it could also crash, and then you have nothing, so we can't tax you on it."

"You can't tax the people on a thing because they don't have it, it's just there," he says. "Okay fine."

Then he talked about Elon Musk's offer to buy Twitter, in which Musk put up his shares of Tesla stock as collateral. Noah explained how using his Tesla stock as collateral to get banks and investors to put up the cash for him to borrow to buy Twitter.

"So you can buy a thing based on what you have, yes. But when we want to tax you, you can say 'I don't have it,'" said Noah. "It's such a fun game that billionaires get to play because all their money is in that."

Noah points out how we can't fudge around with the IRS due to where our money is located. "You can't be like, 'That money's in the bank, I don't have that money. What money? It's in the bank. Only when I take it out, then you can tax me. For now, it's in the bank, IRS."

That's not something the IRS would accept.

"But if you have billions in shares, you can then use that as money, to then get more money, but not get taxed on any money, because you 'don't have money.'"

Noah said he's not suggesting that we tax people on unrealized gains.

"But I am saying, it seems to me that you then shouldn't be able to use a thing that's unrealized as collateral," he said.

That last point is worth restating. Noah isn't saying that billionaire wealth in the form of stock shares should be taxed like liquid money. He's questioning whether people should be able to use their untaxed wealth as collateral to get liquid money loans to avoid having to liquidate their own wealth (which they would then have to pay taxes on).

Food for thought. Watch:

This from Trevor Noah on taxing billionaires is \u2026 pretty perceptive!pic.twitter.com/8hv4HKZLtQ
— Teddy Schleifer (@Teddy Schleifer) 1651943500

This article originally appeared on 5.10.22

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Humor

Canadian comedian makes a funny and thoughtful case for why he doesn't want to be rich

"Bring rich won't make history remember you."

via TED

Comedian Pardis Parker at the Global Ted COnference 2022.

In April 2022, comedian Pardis Parker performed a five-minute set at the global TED Conference in Vancouver, Canada, where he admitted he’s “terrified of wanting to be a billionaire.” The performance was a funny and bold, statement in a culture obsessed with the ultra-wealthy.

Parker’s fear of becoming a billionaire began after he left Canada for Los Angeles. “I think the biggest difference between Canada and L.A. is the extent to which people in L.A. fetishize wealth,” Parker said.

“I'm terrified, man. I'm terrified that L.A. is changing me that I'm becoming one of those people who chases money, who fetishizes wealth who wants to be a billionaire,” he continued. “When I say that people get angry they get defensive. They’re like, ‘What's wrong with being rich? What's wrong with being a billionaire? What's wrong with being financially savvy?’ It's just like yo man, if you own a billion of anything that doesn't make you savvy, that makes you a hoarder.

He then points out that billionaires are just as quickly forgotten as anyone else. “There's 2,668 billionaires on the planet right now. Name them. You can't, and that's while they're still alive,” Parker joked.

Parker finishes his chunk by sharing how almost everyone can leave a legacy long after they’re gone. For example, give kids a full-size candy bar on Halloween. “That's it, that's it. Legacy cemented. It's been 30 years since I went trick-or-treating and me and my brother still talk about 39 Grenon.”

Parker’s stand-up routine presents a fun way of rethinking what it means to be rich and leave a legacy and he’s right. In the end, people will probably forget those who impressed them with their wealth, but they’ll never forget someone who made them feel good.

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Education

Warren Buffet's partner, Charlie Munger shared his most valuable advice on becoming a success

The billionaire passed away on November 28 at the age of 99.

via Nick / Wikimedia Commons

Charlie Munger of Berkshire Hathaway.

Charles Munger, Vice Chairman of Berkshire Hathaway and Warren Buffet’s closest business partner, passed away on Tuesday, November 28, at 99. Buffett and Munger's partnership lasted over 50 years, producing Berkshire Hathaway, one of the largest and most successful conglomerates in history.

When Munger passed, his estimated worth was $2.6 billion. Buffet, 93, is believed to be worth $119 billion.

But Munger was far more than just a wealthy man. Apple CEO Tim Cook called Munger a “keen observer of the world around him,” and he was known for his pithy bits of common-sense wisdom known as “Mungerisms.”

These sayings have been collected into books, including “Poor Charlie’s Almanack: The Wit and Wisdom of Charles T. Munger.”

My greatest lesson from Munger:\n\n\u2022Never ever feel sorry for yourself\n\u2022Never have envy
— (@)

In a piece called “Charlie Munger on How to Lead a Successful Life,” Time magazine shared one of Munger’s most valuable pieces of advice. Munger believed that one of the best qualities one can have is the ability to see things in the inverse.

“If you turn problems around into reverse, you often think better. For instance, if you want to help India, the question you should consider asking is not “How can I help India?’ Instead, you should ask, ‘How can I hurt India?’ You find what will do the worst damage, and then try to avoid it,” Munger once said.

“Perhaps the two approaches seem logically the same thing. But those who have mastered algebra know that inversion will often and easily solve problems that otherwise resist solution. And in life, just as in algebra, inversion will help you solve problems that you can’t otherwise handle,” Munger continued.

Charlie Munger\u2019s formula for success is simple and perfect:\n\n- Spend less than you earn \n- Invest prudently \n- Avoid toxic people and toxic activities\n- Defer gratification\n- Never stop learning
— (@)

Munger believed it’s as important to be as clear about the things we want to avoid in life as those we wish to pursue.

“What will really fail in life? What do we want to avoid? Some answers are easy,” Munger said. “For example, sloth and unreliability will fail. If you’re unreliable, it doesn’t matter what your virtues are, you’re going to crater immediately. So, faithfully doing what you’ve engaged to do should be an automatic part of your conduct. Of course, you want to avoid sloth and unreliability.”

Another piece of Munger’s advice that needs to be shared far and wide in today’s America is avoiding “extremely intense ideology” because it “cabbages up” one’s mind.

“You see a lot of it in the worst of the TV preachers. They have different, intense, inconsistent ideas about technical theology, and a lot of them have minds reduced to cabbage. That can happen with political ideology. And if you’re young, it’s particularly easy to drift into intense and foolish political ideology and never get out,” Munger said.

As a student of the human condition, Munger understood that few of us can overcome our own “self-serving bias.” So, when making persuasive arguments, it’s best to avoid using reason and, instead, appeal to the person's interests.

“You should often appeal to interest, not to reason, even when your motives are lofty,” Munger said.

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Culture

An explanation of the GameStop stock story for people who are wondering what it's all about

Now This/Instagram

I'm not proud to admit this, but I know virtually nothing about the stock market. I mean, I know what it is and on a very, very basic level know how it works. Kinda. Maybe. I don't even know.

That's a problem when some huge news about the stock market comes along. While clearly a big deal, this news about GameStop stock skyrocketing because a bunch of Reddit users did something and a bunch of billionaire hedge funders got screwed over by it has been a little lost of me.

I'm sure I'm not alone in this. In fact, I know I'm not, based on the virality of this "normal person" explainer video shared on Twitter. Prior to two days ago, this is pretty much exactly how I would have explained what's going on:

— (@)

There are a whole lot of us who don't understand the stock market and usually don't care that we don't understand it. Then a big, important David and Goliath story like this comes along, making it clear we should know more than we do.

Part of the problem is that there's so much "inside baseball" terminology to wade through when you dive in. I graduated from college with honors, for the love, but every time I try to read a news story about this GameStop thing, I have to stop every other sentence to look up words that financial writers assume we all know and understand. (I still don't even get what a hedge fund is, much less how short selling would affect one. And WTF is a "position" in a stock market context? Zero idea.)

What I need is someone to translate all that finance-speak into layman's terms, super simply, like I'm in kindergarten. I don't need all the nitty-gritty details of exactly how it all works, I just need enough so that I "get it." I read a bunch of posts and explainer articles, some more helpful than others, but nothing has synopsized it all quite as concisely and clearly as this 3-minute video shared by Now This. Enjoy:

See on Instagram

Okay, so I still don't know exactly what a position is, but I get the gist.

Not only does this story explain a bit about how the game of Wall Street is played, but it also helps explain how the filthy rich have managed to get filthy richer during a pandemic when millions are struggling. On one level, businesses struggling is actually good for investors as they can take advantage of the falling prices.

Pretty gross to purposefully profit off of pandemic fallout, if you ask me. But what do I know? Like I said, not much. I will say, this whole thing is a good incentive to learn more about how that part of the U.S. economic system works. Knowing that it's actually not untouchable, that it's not just elite economic geniuses who know what they're doing, that there are ways for the average person to influence wealth distribution is intriguing to say the least. And anything that makes predatory billionaires shake in their boots is good fun.

We could all benefit from greater financial literacy, especially when it's clear that the rules of the game are in flux. We'll see how it all shakes out in the end, but it seems that these Redditors may prove that David has a chance against Goliath after all.

From Your Site Articles

billionaires

Billionaire Mark Cuban reveals the secret to his success comes down to one simple habit

It's all about your mindset.

What's the secret to Mark Cuban’s success?

What is a growth mindset?

What's accepted now but will be embarrassing in the future? Our readers shared 21 things.

Today's trend is tomorrow's cringe.

Trevor Noah boils down the problem with the mega-rich using 'unrealized gains' as money

"It's such a fun game that billionaires get to play."

Canadian comedian makes a funny and thoughtful case for why he doesn't want to be rich

"Bring rich won't make history remember you."

Warren Buffet's partner, Charlie Munger shared his most valuable advice on becoming a success

The billionaire passed away on November 28 at the age of 99.

Here's who is getting MacKenzie Scott's latest $2.7 billion donation

An explanation of the GameStop stock story for people who are wondering what it's all about

Yet another school district shifts to 4-day week and parents are sounding off

A 6-yr-old's art teacher said she did her painting 'wrong'. Professional artists disagreed.

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Psychologist explains why everyone feels so exhausted these days and it makes a lot of sense

10 fascinating facts about Vincent van Gogh and his famous 'Starry Night' painting

We have a small favor to ask of you

billionaires

It's all about your mindset.

What's the secret to Mark Cuban’s success?

What is a growth mindset?

Today's trend is tomorrow's cringe.

"It's such a fun game that billionaires get to play."

"Bring rich won't make history remember you."

The billionaire passed away on November 28 at the age of 99.