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Wednesday, February 24, 2016 6:05:33 PM
QUINN: How do you reconcile funding the EFF Stupid Patent Chair, your dislike of software patents and your decision to heavily invest in Vringo? It seems your decision to invest in Vringo was substantially related to their patent infringement lawsuit against Google, is that correct?
CUBAN: It was a cheap hedge. The company asked for support. I told them the same thing. Other shareholders asked for support. I said the same. When markets act with stupidity I will often hedge by buying instruments that I would not otherwise buy. I think high frequency trading is an enormous market structure risk. I spend far too much money hedging my investments as a result. Same thing. I picked Vringo out of nostalgia. I thought the old Lycos patents had at least a chance. If there wasn’t a Vringo I would have put the money elsewhere. If patent law was not so bad I would have kept the money in my pocket.
QUINN: With respect to your Vringo answer, I don’t doubt that you are telling the truth, but can you understand why people might think this position undercuts your views on software and patent trolls?
CUBAN: No. It makes no sense that they don’t understand it. The system is corrupt and doesn’t work. There is no more important time to hedge.
QUINN: It seems based on your definition of patent trolls you turned into a patent troll when you invested in Vringo. I don’t personally think Vringo is a patent troll, but the optics seem bad. And while my wealth pales in comparison to yours I find it hard to believe that there weren’t equally enticing investment opportunities that wouldn’t have required you to go against your beliefs.
CUBAN: Of course Vringo is a troll. That’s exactly why I used them as a hedge.
Link: http://www.ipwatchdog.com/2015/11/10/a-patent-conversation-with-mark-cuban/id=63090/
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