Mark Cuban Says Political Parties Don’t Matter for Businesses in This Election — Here’s Why
In a recent interview, billionaire entrepreneur Mark Cuban shared his unedited thoughts on how the outcome of the American presidential election might affect business in this country. According to Cuban, traditional party affiliations may not be as relevant this time around, especially when it comes to the business world — and he has some thoughtful reasons why.
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Here’s why Mark Cuban said political parties don’t matter for business in this election.
Parties Have Been Reshaped by Their Candidates
Cuban argued that both major parties have been significantly transformed by their respective candidates:
“Parties really don’t matter right now in this election,” Cuban stated. “I think we saw Donald Trump just take over the Republican party… We’re seeing the same thing with Kamala Harris… this is not about Democratic ideas, this is about Kamala Harris’s values and relating to the American people.”
Rather than adhering strictly to established party platforms, Cuban believes the candidates are reshaping their parties around their personal values and approaches.
What Businesses Really Need: Unity and Stability
According to Cuban, what businesses truly require from leadership goes beyond party lines:
“When there’s partisanship and division, it’s hard to run a business,” he explained. “In order to be optimally successful, you need a united country, just not only from a sales perspective but just the culture of your organization.”
Cuban emphasized that excessive political polarization can create challenges both externally (in terms of sales and market conditions) and internally (affecting company culture and employee relations).
Character and Values Matter More Than Party
Instead of focusing on party affiliations, Cuban suggested voters and business leaders should prioritize a candidate’s character and core values:
“Kamala, her values are what are going to make her different, her values are what makes her stand apart from the Republican party and the Democratic party for that matter,” Cuban said. “She wants to bring people together and that’s so different from what Donald Trump wants and that’s what companies need in order to be successful.”
The Importance of Predictability for Business
Cuban highlighted how unpredictability in leadership can be detrimental to business operations:
“It’s critically important to have some sanity and some reliability in laws and in regulations,” he said.
Cuban contrasted this with the uncertainty surrounding Trump’s approach, saying, “We have no idea where Donald Trump is going.”
Looking Beyond Short-Term Gains
While some business leaders might be tempted to focus solely on immediate benefits like tax cuts, Cuban thinks this is shortsighted and potentially dangerous.
Cuban believes quick tax cuts can be tempting but tricky. They might save some money now but can cause problems later. These problems could include sudden rule changes, less freedom for businesses to make choices and missing out on bigger chances to grow. Instead, Cuban thinks we should look at the whole picture. He wants policies that keep things steady and help everyone grow their businesses for many years, not just a quick boost now.
The Broader Economic Picture
Cuban believes there needs to be an environment in America that fosters “opportunity economy”:
“If we can grow the economy so that everybody benefits, there’s nothing that can happen, there’s nothing that a politician can do, or anybody can do for that matter, that’s going to stop an entrepreneur from being an entrepreneur,” he explained.
Cuban believes that growing the economy isn’t about taking from one group to give to another. Instead, he thinks that when policies help more people succeed, it creates chances for all kinds of businesses to do well. In his view, a rising tide can lift all boats.
Editor’s note on election coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on GOBankingRates.com.
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