Workers paid by the hour will "always fall behind"

Billionaire technology entrepreneur Mark Cuban has proposed a solution to income inequality that does not involve the dismantling of capitalism: business owners should give equity to all their employees.

"The biggest problem for entrepreneurs, for capitalists, for those of us who are successful, is if anyone has to be paid by the hour … it will always be late, "Cuban told Recode Decode with Kara Swisher. at the SALT 2019 conference in Las Vegas. "And the distribution of income is … [the] the disparity will become more and more wide ".

Thus, said Cuban, "We, the entrepreneurs, must strive to give actions to everyone who works for us." Period. "End of the story." No exceptions, because that's the only way for people to get an appreciation for their actions. "

If contractors give their employees a stake in the company, employees can reap the benefits because the value of the issue increases, Cuban said, often substantially.

The first employee of Uber, Ryan Graves, for example, is now worth more than a billion dollars thanks to the shares of the company that he got as part of his job. And many former Cuban employees have become millionaires, he explains to CNBC Make It.

Cuban claims to have given all of its employees shares in the two companies that it founded – Microsolutions, a computer consulting service that it sold to Compuserve in 1990, and Broadcast.com, a service of Online streaming that he sold to Yahoo in 1999 for nearly $ 6 billion in stock.

"300 out of 330 [Broadcast.com] the employees became millionaires "at the time of the sale, Cuban told CNBC Make It.

According to Cuban, "capitalism is not bad.It is when capitalists do not pay attention" that bad things can happen, "he told Swisher. Our country is very much like the management of a company … you can not just look in the short term in the immediate aspect, you have to look long term, "he said.

Mark Cuban, President and CEO of Axs TV, speaks at the Skybridge Alternatives Conference (SALT) in Las Vegas, Nevada, USA on Thursday, May 9, 2019. SALT brings together investors, policy experts, politicians and business leaders. network and share ideas for exploiting growth opportunities in the areas of finance, economics, entrepreneurship, public policy, technology and philanthropy.

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