Unless you’ve been living under a rock, you’ve heard the term “economic stimulus plan.” Mark Cuban, one of the original “dot.com billionaires,” has introduced his own version of an economic stimulus plan.
In his blog earlier this week, Cuban announced a concept he called “open source funding.” The idea, aside from investment stimulus for businesses, is the sharing of lean and profitable business plans. The only way one can hope to qualify for investment is to meet all of Mr. Cuban’s criteria, including posting your business plan publicly for review.
Of course, there are some dissenters who complain about the criteria but hey, when you’re giving away money, you have to make some rules. There’s also the general ruckus about stealing ideas but that’s also part of the reason for the public posting – “sharing” ideas. If someone else has the means to start a business using your idea, that’s another new business start-up. The idea is to get more Americans into business.
However, a by-product of this open air discussion and sharing of ideas on the internet is the dozens of other potential investors jumping into the arena, posting on the blog, offering additional backing, and taking notice of the flow of ideas. Whether it’s for the chance to do business with the Dallas Maverick’s owner, or the for a share of the spotlight, the end result is that the gauntlet has been thrown for these big money moguls to re-invest in American know-how.
It’s time to check your patents and dust off your spreadsheet.
