"We would have picked him" - When Shark Tank's Mark Cuban reflected on missing out on Giannis Antetokounmpo

During a conversation with the FLAGRANT podcast on October 2, 2024, Shark Tank investor Mark Cuban reminisced about the 2013 NBA draft, where the Dallas Mavericks had the 13th overall pick. Mark Cuban owned the Mavericks at the time and acknowledged during the podcast that the team had considered selecting Giannis Antetokounmpo, but ultimately traded down to conserve salary cap space.

At the time, the Mavericks were focused on making one final push with a 34-year-old Dirk Nowitzki. Cuban recalled watching VHS tapes of Giannis playing in the Greek League, but the team's general manager was not convinced.

Cuban clarified that the decision to trade down was not influenced by coach Rick Carlisle's preference for Shane Larkin, a Virginia native.

Instead, the move was motivated by the desire to save money for future free agent signings. In hindsight, Cuban acknowledged that if Giannis had been available at the 13th pick, the Mavericks would have selected him.

However, he also noted that 14 other teams passed on the opportunity to draft Giannis, who has since become a force to be reckoned with in the NBA.

"We just traded down just to save money for cap room. We would have picked him. There was 14 other teams that passed on him too," stated Mark.

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Shark Tank's Mark Cuban discusses his approach to ownership and dealing with criticism

Andrew Schulz asked the Shark Tank investor Mark Cuban if he had a public relations strategy in place or if he simply aimed to make a big impact. Cuban explained that his primary focus was on doing what he believed was right, rather than worrying about public perception.

Cuban recalled the early days of his ownership, when he faced criticism from other team owners who were unhappy with his willingness to spend money.

"I just try to do what's right because, like, back then particularly, there was a bunch of old motherfuckers that own teams. You know, they inherited them or won them in a poker game, and anytime I spent money, they would be p*ssed at me," stated the Shark Tank judge.

He remembered a particularly heated exchange with another owner, who told him to "sit down and shut the f*ck up" during a Board of Governors meeting. Despite the initial backlash, Cuban's approach eventually earned him respect from his peers. He credited his ability to bring a fresh perspective to the league, much like a tech expert, for helping to drive positive change.

Akaash Singh described the Shark Tank investor Cuban as a "disruptor," and Cuban agreed, stating that he simply didn't care about conforming to traditional norms – he was focused on doing what he thought was right.

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Mark Cuban reveals the reality of Shark Tank deals

The host Andrew Schulz asked Mark Cuban about the success rate of deals made on the reality show Shark Tank. Cuban disclosed that for the first 12 years, approximately 70% of the deals he agreed to on the show ultimately resulted in a partnership.

However, Cuban explained that the process involves a crucial step after the on-air agreement: due diligence.

This phase allows Cuban and his team to verify the accuracy of the entrepreneur's claims and assess the business's true financial situation. Cuban estimated that around 30-40% of entrepreneurs exaggerate or distort information, such as hiding debt or inflating revenue projections. These discrepancies often lead to deals falling through.

In recent years, Cuban has noticed a change in the entrepreneurs' approach. With the show's growing popularity, many contestants now understand how to present themselves and their businesses in a more appealing way, even if it means being dishonest.

Some entrepreneurs are more interested in the promotional value of appearing on the show than in securing an investment.

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Mark Cuban announced his retirement from Shark Tank after the season 16 which is currently being aired on ABC.