Incredibly, Mark Cuban is not the only billionaire who thinks of launching side projects. As a boy of only 16 today, Cuban admits he knows how he would make some money on the side. He shared this tactic with CNBC Make It, explaining it in three easy steps. The first step for Cuban would be to learn the skills of prompt engineering for snapshot AI tools such as Open AI’s gpt 3.5 chat or Google’s gemini. The second step would be helping the fellows with their school essays through the use of such prompts. Lastly, he would turn to the audience of small and medium savings enterprises that have not been introduced to the AI revolution yet. And while he is only sixteen in this imagined world, Cuban says, he would be able to train these companies on how to work with that AI.
This is not just that. In the USA, according to the report by Lending Tree published in February, over fifty percent of the members of this generation already have side jobs. Prompt engineering is also quite prominent and pays very well, which is where you will find young people of this generation. For example, ZipRecruiter – a job board platform claims that entry-level neural AI tutor jobs pay around 30,000 dollars per annum while full time prompt engineers of AI make about 129,500 dollars in a year. This is an industry on the rise and, currently, you do not need a degree to start it. Yes, but the catch is that one has to be adept to it with the help of years of practice and in most cases through certifications. Sites like Coursera which team up with institutions such as Vanderbilt University or even IBM can complete the training on the basic aspects of AI prompt engineering in a month.
While Cuban’s hypothetical side hustle is high-tech, it’s a far cry from his actual first job. At 12 years old, Cuban was selling garbage bags door-to-door to his neighbors in Pittsburgh. His goal? To save up for a new pair of basketball shoes. But his entrepreneurial spirit didn’t stop there. As a teenager, Cuban earned extra cash by selling collectibles like baseball cards, stamps, and coins. His various hustles helped him find his way to Indiana University, where he continued to find creative ways to make money. In college, Cuban bartender, hosted parties with cover charges, and even worked as a dance instructor to supplement his income.
After graduating, Cuban had a brief stint in banking before fully committing to entrepreneurship. His first major success came when he sold his software startup, MicroSolutions, to CompuServe for $6 million in 1990. But his biggest payday came nine years later when he sold his second company, audio streaming service Broadcast.com, to Yahoo for a staggering $5.7 billion, catapulting him into the billionaire ranks.
Cuban is currently valued at around $5.7 billion as of 2023 according to reports by Forbes. Besides his riches, Cuban is heavily involved in managing his businesses, especially the online pharmacy called Cost Plus Drugs, which is set up to help cut the high costs of prescription drugs. The pharmacy hopes to reduce the prices of prescription medicines by selling them at cost only but with an add-on of 15%. This goal of Cuban’s is consistent with the idea he has held for a number of years now, which is that his business skills should be used to tackle social issues such as high costs of healthcare.
He explained how that is probably one of the things that helped him become who he is. In fact, when he took part in an episode of ABC’s “Shark Tank” in 2016, Cuban said, “When I was a hustler… I have sold ever since. Whenever I was, I had something active. That’s just the way I was. The same attitude, or rather, lifestyle paved the way for Cuban from selling garbage bags to one of the business empires in the world.
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Most of the people who are motivated by the example of Cuban and want to find how they can earn some money on top of their salary would appreciate that there are many options available. To earn passive income in passive income through the internet,” an online class offered on the CNBC website features suggestions on the ways of earning passive income and some of the people who have succeeded in the same. If you’re a beginner or in need of a new part-time job, the success story of Cuban strikes the belief of dedication, innovation and readiness to accept change through technology.
