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July 25, 2005

Mark Cuban Wisdom

No.  This is not an oxymoron.  I had the pleasure of listening to Mark at the Always-On conference last week and found this pearl of wisdom.  Mark asked this rhetorical question:

"What is the #1 job of a General Manager of a NBA team?"

He answered the following:

"You might think it is to win the NBA championship or assemble a great group of players or get the best value for the budget but you will be wrong on all counts.  The #1 job of a General Manager is to keep his job because there are only 30 jobs like this and he/she gets paid millions of dollars to work 6 months a year"

This is so true.  There are lots of jobs especially high paying jobs in which the incentives of the folks working those jobs are not aligned with their employers.  Mutual fund managers come to mind (their goal is to maximize assets not returns), Studio execs (whose job is to keep their job) and some would even argue VC's (keep raising funds independent of the ability to invest it wisely)

Posted by Venky Ganesan at 11:46 PM in Current Affairs | Permalink

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Comments

Great Article Thanks

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This article is sad but true. When did it become more about the money than the competitiveness of the sport itself? This is one of the reasons I love college basketball so much more than the NBA. The NBA certainly does have talent but the college players play for the glory.

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