Mark Cuban offers small-business advice in Texas Monthly Facebook Live
Mark Cuban joined Texas Monthly editor at large Tom Foster for an hour-long Facebook Live discussion about COVID-19 fallout, PPP loans, AI, manufacturing and employee transparency.
Texas Monthly and the Texas Business Hall of Fame hosted a Facebook Live discussion on April 9, 2020, with Mark Cuban offering advice for Texas small-business owners facing the fallout from the COVID-19 crisis.
The session came as shelter-in-place orders forced many offices, shops and restaurants to close, leaving owners trying to manage sudden losses and uncertainty. Texas Monthly said the conversation was meant to help readers navigate that disruption.
What Cuban addressed
Cuban, whom Texas Monthly identified as a billionaire investor and owner of the Dallas Mavericks, joined Texas Monthly editor at large Tom Foster for about an hour. The discussion touched on Cuban’s early business challenge, the paycheck protection loan program and ways the United States could bring back a new type of manufacturing industry.
The interview also covered artificial intelligence and how small businesses might use it during the crisis. Cuban said entrepreneurs need to understand AI when making decisions and warned that it will be used for things they may not expect.
On employee communication, Cuban said business owners should be completely transparent. He cautioned that telling workers everything will be fine and then laying them off days later is the worst thing a company can do.
What the discussion covered
The advice came as small businesses across Texas faced pressure from pandemic restrictions and a fast-changing economic outlook. The paycheck protection program, which Cuban discussed, was one of the main federal aid tools available to employers trying to keep staff on payroll.
Texas Monthly said the discussion was meant to give owners guidance during the early months of the pandemic, when many companies were still trying to understand how long closures and revenue losses might last.
Next step
Texas Monthly directed readers to watch the full video for more of Cuban’s remarks and the rest of the discussion.
Sources
Editorial note: This article was prepared with AI assistance and includes source attribution for reader review.
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