News Summary

• Mark Cuban emerged this week as one of the few billionaires willing to defend diversity, equity, and inclusion (DEI) efforts, saying hiring strategies should broaden the group of job candidates to include as many people as possible..
• Once you have identified the candidates, you HIRE THE PERSON YOU BELIEVE IS THE BEST,” Cuban wrote on Friday.Most hiring is not based on a quantitative metric but is instead subjective, he added..
• In 2021, roughly 80% of U.S. employers had launched DEI initiatives, according to a study from WorldAtWork.Last year, the Supreme Court banned affirmative action in higher education amid a broader pushback against DEI by many conservatives..
• More often than not it’s an educated guess,” he wrote.Cuban was one of several well-known investors arguing this week about the merits of DEI..
• The Shark Tank star and Dallas Mavericks owner argued on X that using DEI in hiring doesn’t mean companies do not hire on merit..
• Cuban pointed to basketball where the best players aren’t always the first picked in a draft and sometimes go undrafted..