And the really, the only true understanding of drug pricing that consumers or patients have is via the pharma bro Martin Skreli with the idea that you can raise a drug price by 5000%. You know, this industry, you know it well, how would we do that? As he'd explained different things to me, I'm like the only way this is going to work is one, if there's radical transparency, because there's no way to explain to anybody simply why a drug costs, what it does. I'm like really good idea, but too limited in how you're thinking about it. You know, I've been working on healthcare issues and, and doing a lot of research on healthcare, paying for studies. Alex Oshmyansky, who was looking at doing a compounding pharmacy as a nonprofit in Colorado with the idea that you make scarce drugs that are overpriced because they're scarce and make them more available at a more reasonable price. And you have done that in a major way with Cost Plus. I'm a big fan of rethinking the way things have always been done. Let's talk about what you're up to these days. It left it left quite an impression and, and also made some other speakers look bad.
You know, well, we, we clearly need to show you some other parts of the city if that's, if that's your view, but I, I thought it was, it was just amazing and. What else was I was I gonna do in Philadelphia? Well, our students were blown away that you were willing to take the time to, you know, not just meet with them, but just hang out with them. And they all said yes, because they used it for groups, which at the time shocked me. One of the things I remember asking them was whether or not they were on Facebook and I expected them to say no.
I wanted a beer and why not hang out right. I thought that was an incredible mark of character. And I don't know if you remember this, but you did something I have never seen a speaker do before or since which is you went to the campus bar and you hung out with students. So Mark Cuban, I think it was six years ago that you came to visit us at Wharton. And why it's terrible advice to follow your passion. We also discuss some basketball rules that I think are long overdue for change. We have a rollicking conversation about what it takes to disrupt an industry and when to bet on a person and an idea.
#Think mark plus
Mark's latest venture Cost Plus Drugs has made hundreds of prescriptions more affordable.
#Think mark serial
My guest today is Mark Cuban, the outspoken serial entrepreneur, Shark Tank investor, and owner of the NBA's Dallas Mavericks. I'm an organizational psychologist and I'm taking you inside the minds of fascinating people to explore how they think and what we should all rethink. Welcome back to Re:Thinking, my podcast on the science of what makes us tick.
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