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Mark Cuban VS Warren Buffet on Car Insurance

Billionaire Mark Cuban also criticizes Rep. Alexandria Ocasio-Cortez on Corona Virus.

Mark Cuban is challenging big names like Warren Buffet in the car insurance industry. At the same time he has criticized both Democrats and republicans for letting politics get in the way of passing another Covid-19 relief bill.  This has brought blowback from Rep. Alexandria Ocasio-Cortez and Senator Ted Cruz.

According to Business Insider, Mark Cuban and Social Capital chief Chamath Palihapitiya are challenging Warren Buffet in the car insurance market. The two are leading a $160 million investment in Metromile, which offers pay-per-mile insurance and personalized pricing to drivers. Buffett’s Berkshire Hathaway owns Geico, one America’s biggest auto insurance firms.

Metromile is a startup digital insurance platform which offers its insurance customers real time, personalized auto insurance policies, priced and billed by the mile, with rates based on precisely how and how much they actually drive, instead of using the industry standard approximations and estimates which the company asserts make prices unfair for most customers.

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In a statement about the new investment Mark Cuban said, “I’ve long been a fan of Metromile’s team and amazing product. During these times of financial hardship, unemployment, and work from home, Metromile provides an important insurance alternative. The option to pay for insurance by the mile is a game changer and why I’m incredibly excited about Metromile’s future!”

At the same time Mr. Cuban is not happy with either the Democratic Congresswoman from New York Alexandria Ocasio-Cortez or the Republican Senator from Texas Ted Cruz over what he sees as political bickering which is preventing a new Corona stimulus package from getting passed.

Mark Cuban tweeted a criticism of both parties saying, “Dems in my mentions-“You are an idiot if you think we are anything like the Reps. MCConnell is the worst!” Reps in my mentions-“You are an idiot if you think we are anything like the Dems. Pelosi is the worst !” Independents in my mentions – “Thank You !”

He also tweeted, “Both sides have obstructionists at the helm. Unfortunately, it’s the party that controls the Senate that is able to obstruct. I’m of the believe that if the tables were turned it would be no different. The Reps would send important bills that would be ignored by the Dems”

So the owner of the Dallas Mavericks went on to call for structural changes to America’s very system of government. “We need to drill down and realize the problem is how we make legislation in this country. Until that changes we get continuous stalemates,” he added.

While his comments were directed at the political parties as a whole and their respective leaderships, it was Ted Cruz and AOC specifically who responded on Twitter to Mark Cuban’s comments.

To them he responded, “My party good, your party bad” Translation of @tedcruz “My party good, your party bad” Translation of the American People, “If either of you really cared about those in need you would find a way to make it work, now.”



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