First, I must preface my post by telling you that I’m a fan of Cuban’s. I was shamelessly giddy when I got the chance to sit down with him a few months back at TechCrunch50. The man is a visionary.
Cuban just wrote about “Open Source Funding” (I wish he hadn’t called it “the Mark Cuban Stimulus plan”, for obvious reasons). Jokes aside, essentially Cuban wants to fund a few ideas that will be self-sustaining and profitable soon (in 90 days). And the best part is, he wants the ideas to be public.
Now there’s a (good) chance your idea will not get funded by him, probably because of the sheer volume of submissions that he will see and the finite time the man has. But even the worst case scenario isn’t a bad one – let’s say Cuban doesn’t fund your idea after you post it publicly, your idea could still be discovered by someone else – possibly another investor, or a co-founder (or a plagiarist, sure).
Cuban hasn’t been shy to invite business proposals in the past. He made it pretty clear at TechCrunch50 that he is open to receiving emails from potential startups and that he will consider them, as long as you don’t have him sign an NDA.
I think this is an absolutely brilliant move by Cuban. I can only hope that more capitalists who are sitting on some cash can help invigorate this market the way Cuban is. Not only can Cuban’s plan help the market and some startups in the short term, hopefully it’ll give others ideas about how they can invest cleverly and pump some vigor into this market. I want Cuban’s idea to get all the attention it can possibly get.
I want to add to Cuban’s proposal and offer up a code to BizSpark for ideas that entrepreneurs are investigating – if you’re looking to put your startup idea in to motion and you like our tools and products but can’t afford to spend the money right now, shoot me an email to join BizSpark.
[photo courtesy SomewhatFrank]