Mark Cuban to Wall Street Journal: “SEC screwed up so bad”.

Mark Cuban, the billionaire, film producer, author and philanthropist is a controversial figure in business. Cuban was invited to speak in Wall Street Journal Live Tech Conference in Laguna Beach, California on Tuesday. He blatantly criticized the Securities and Exchange Commission and discussed other interesting topics as well. Earlier this month, he was accused of insider trading by SEC and won the trial in Dallas court.

Hosted by Dennis Berman, Wall Street Journal business editor, Cuban, the owner of Dallas Mavericks NBA team talks about his views on economic mobility, and how Securities and Exchange Commission has failed to fulfill its role. As CNNMoney, Cuban bluntly said that "SEC have screwed it up so bad that it's almost impossible to go public,".  In regards to the startup companies, the Shark Tank investor said that SEC has failed the startup and consumers as well. He quoted the data from Renaissance Capital, market research firm regarding the low number of IPO for only 17 this year as the lowest since 2009. Cuban strongly criticized SEC for the lack oversight that leads to tightening regulations, resulting to what he said as almost impossible for companies to go public.

In a stronger tone as Wall Street Journal, Cuban also said that SEC has failed the working people too. More about SEC, in his own style, Cuban said that "The SEC doesn't know how to do its job" and stock market today is not safe for the consumer investors. With a several high profile case that cause billions of dollar loss like Enron and Bernie Madoff case, Mark Cuban held no bar in throwing his verbal punch to SEC. Besides his criticism on SEC, Cuban also covered other topics including professional sport, as he also owns sports businesses.

Regarding a professional sport, with a more in-tune to technology topic of the conference, Mark Cuban stated that his Dallas Mavericks NBA team which he purchased in 2000 is now a technology product as reported by Business Insider. Previously, he said, Mavericks only focused on selecting roster and combining the player in court together. However, he said that the club is now much more focused on biometrics and analytics that change Mavericks as a basketball team. One of the efforts is to closely monitor the way Maverick's players run to examine how players' running style influences the development of inflammation later in their life. Also, he said he hires a team psychologist to put the focus on players mental health.

Dallas Mavericks is an NBA club which was founded in 1978, but its admission to NBA league only happened two years later. With Mark Cuban as the owner, Dallas Mavericks has become an elite team and won NBA championship in 2011, defeating its strongest contender Miami Heat in a fierce final competition.