Mark Cuban: If you haven't read this, you should
Billionaire investor Mark Cuban thinks entrepreneurs could get some inspiration from a resignation letter.
In a Friday post on social platform Cyber Dust, Cuban recommended that go-getters read the note penned this week by former Philadelphia 76ers general manager Sam Hinkie. Cuban, who owns the National Basketball Association's Dallas Mavericks, called it a "great guide for entrepreneurs."
Hinkie, who used analytics heavily and loaded up on draft picks, even if it meant losing, stepped down last week in his third season. The 76ers never posted better than a 19-63 record during his tenure.
In his resignation letter to the team's ownership, Hinkie cited Warren Buffett, Jeff Bezos and Elon Musk while defending his practices. He said he took "the longest view in the room," noting that progress does not always bring quick success.
"A yearning for innovation requires real exploration. It requires a persistent search to try (and fail) to move your understanding forward with a new tool, a new technique, a new insight. Sadly, the first innovation often isn't even all that helpful, but may well provide a path to ones that are," Hinkie wrote.
Hinkie said he used "contrarian views" to find the best talent and most undervalued players. He touted the ability to "zig while our competitors comfortably zag."
Hinkie noted that he left the team on "solid footing," saying the players he brought to the 76ers may need time to grow into a winning team.