WHEN: TODAY, TUESDAY, May 10, 2016
WHERE: CNBC'S "SQUAWK ON THE STREET"
Following are excerpts from the unofficial transcript of a CNBC interview with Dallas Mavericks Owner Mark Cuban today on CNBC's "Squawk on the Street." Following is a link to video of the interview on CNBC.com: http://video.cnbc.com/gallery/?video=3000516516.
All references must be sourced to CNBC.
MARK CUBAN ON THE MARKETS
WE'RE IN NEVER-NEVER LAND, I DON'T KNOW WHERE WE'RE GOING TO GO AND I DON'T THINK ANYBODY DOES. WE SEEM TO BE IN A TRADING RANGE, BUT THE REALITY IS THERE'S REALLY NO TRIGGERS. THEN WE HAD THE UNCERTAINTY OF POLITICS. I THINK DEPENDING ON WHERE THINGS GO IN THE POLLS WE'RE GOING TO START TO SEE IT IMPACT THE MARKETS MORE AND MORE AS WE PROGRESS.
MARK CUBAN ON TRUMP
WHEN DONALD FIRST CAME OUT I LIKED THE FACT HE WAS CHANGING POLITICS. WHAT I SAID WAS DON'T LISTEN TO WHAT HE SAYS, LISTEN TO HOW HE SAYS IT BECAUSE THAT'S HOW HE'S GOING TO INSPIRE PEOPLE TO VOTE FOR HIM. THAT'S EXACTLY WHAT HAPPENED. BUT NOW HE'S KIND OF TURNED INTO THE "SEINFELD" CANDIDATE, CANDIDACY ABOUT NOTHING.
MARK CUBAN ON THE TRUMP ADMINISTRATION
IF YOU LOOK AT THE PEOPLE AROUND DONALD RIGHT NOW IN PARTICULAR HIS KIDS, THEY'RE COMPLETELY DIFFERENT THAN HIM. I THINK HE'S SMART ENOUGH TO BRING ON PEOPLE THAT ARE NOT DONALD TRUMP. NOT DONALD TRUMPIAN-LIKE. SO TRADITIONAL POLITICIANS THAT MAY BE GOOD OR BAD IN SOME PEOPLE'S EYES BUT I THINK HE'S GOING TO SURROUND HIMSELF WITH PEOPLE THAT ARE COMPLETELY DIFFERENT. HE DOESN'T NEED ANOTHER ENTREPRENEUR OR BUSINESS PERSON.
MARK CUBAN ON THE FED
I THINK THEY'RE DOING A FINE JOB, RIGHT? I MEAN, LOOK, WE'RE TALKING ABOUT NEEL KASHKARI, I DON'T PAY ANY ATTENTION TO THE FEDERAL RESERVE. I'VE GOT INVESTMENTS IN OVER 150 COMPANIES. AND THE FEDERAL RESERVE HAS NEVER COME UP ONE TIME. I DON'T THINK ENTREPRENEURS CARE.
MARK CUBAN ON SLOW GROWTH
THERE'S A DISCONNECT RIGHT NOW BECAUSE SO FEW COMPANIES ARE GOING PUBLIC. THAT GIVES AN INCENTIVE FOR ANY S&P COMPANY, ANY MAJOR PUBLIC CORPORATION TO JUST WAIT AND RATHER THAN INVESTING MAKING CAPITAL INVESTMENT IN THEIR OWN COMPANY THE THINGS THAT MAKE THEM COMPETITIVELY STRONG JUST WAITING TO MAKE AN ACQUISITION AND SO IF YOU ARE NOT INVESTING IN YOURSELF LOOK THERE'S HUNDREDS OF BILLIONS OF DOLLARS BEING INVESTED IN START UPS OF ALL KINDS WHETHER IT IS RETAIL STARTUPS, TECHNOLOGY STARTUPS, BIOTECH STARTUPS AND SO RATHER THAN BIG COMPANIES HAVING TO INVEST IN THEIR OWN R & D, THEY JUST SIT BACK AND WAIT BECAUSE NOW THE CULTURE OF START UPS IS YOU DON'T GO PUBLIC. YOU LOOK FOR AN EXIT. IF THAT'S THE CASE YOU JUST WAIT. IF SOME COMPANIES GET CAUGHT, THEY HAVEN'T MADE ACQUISITIONS, THEY HAVEN'T MADE INVESTMENTS AND OBVIOUSLY PARTICULARLY WITH RETAIL YOU HAVE THE AMAZON EFFECT.
About CNBC:
With CNBC in the U.S., CNBC in Asia Pacific, CNBC in Europe, Middle East and Africa, CNBC World and CNBC HD, CNBC is the recognized world leader in business news and provides real-time financial market coverage and business information to approximately 386 million homes worldwide, including more than 100 million households in the United States and Canada. CNBC also provides daily business updates to 400 million households across China. The network's 15 live hours a day of business programming in North America (weekdays from 4:00 a.m. - 7:00 p.m. ET) is produced at CNBC's global headquarters in Englewood Cliffs, N.J., and includes reports from CNBC News bureaus worldwide. CNBC at night features a mix of new reality programming, CNBC's highly successful series produced exclusively for CNBC and a number of distinctive in-house documentaries.
CNBC also has a vast portfolio of digital products which deliver real-time financial market news and information across a variety of platforms including: CNBC.com; CNBC PRO, the premium, integrated desktop/mobile service that provides live access to CNBC programming, exclusive video content and global market data and analysis; a suite of CNBC mobile products including the CNBC Apps for iOS, Android and Windows devices; and additional products such as the CNBC App for the Apple Watch and Apple TV.
Members of the media can receive more information about CNBC and its programming on the NBCUniversal Media Village Web site at http://www.nbcumv.com/programming/cnbc.
For more information about NBCUniversal, please visit http://www.NBCUniversal.com.