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Wednesday, November 12, 2008

Missing persons

Zillionaire sports team owner Mark Cuban has some advice for Obama: Get some real entrepreneurs on your economic team.

Comments (8)

Looking at that list, I am seeing a lot of retreads and big corporate types. My faith is starting to wane . . .

Does he mean real entrepreneurs like Buena Vista Homes' Roger Pollock?

Good point. The team needs input from some real Joes. ID a number of successful startups in various industries in different locales. Seek input on the impact of proposals via e-mail. A burgeoning entrepreneur probably has little time to participate directly.

Adding an entrepreneur or two is a good idea. Just don't let it be Mark Cuban.

He is getting advice from Warren Buffet, who is one of the greatest entrepreneurs of all time.

I think Cubans idea is excellent.

"Warren Buffet, who is one of the greatest entrepreneurs"

I'll grant you he is a good investor and good at recognizing small companies to throw money at. However, besides his investment firm, he's never started up a company.

"However, besides his investment firm, he's never started up a company."

He hasn't started a business from the ground up, true. But an investment firm is a business of sorts, and he's grown it from very humble origins.

For those folks that haven't been keeping up on Warren Buffet lately, his investments have been doing poorly in recent months. Just for starters, he's at least $6.00 a share under water on several million shares of GE stock purchased last month; and also has even bigger losses on shares on Goldman Sachs. And that's on top of a $700 million dollare loss at his Berkshire Hathaway conglomerate just this past quarter. Keep in mind that just because someone makes a killing over a number of years does not guarantee success in later years.

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