We all know that Marc Cuban is an innovator, especially with technology. And he’s extended that creativity into his own family. It is without question that Marc Cuban – business mogul, Dallas Mavericks owner and “Shark Tank” star- is thriving. In an episode of The Thrive Global Podcast with iHeartRadio, the business mogul, Dallas Mavericks owner and “Shark Tank” star told Arianna Huffington about how he manages his kids’ phone time. For starters, Netflix time is earned in the Cuban household. For every hour his kids read, they get two hours of Netflix. “And that worked out really well until one of my daughter’s friends gave her her password.” he says. “I caught onto that very quickly…I try to stay one step ahead, and it’s good for me, too, because it keeps me abreast of all the new apps and all the new technology.”

He employed a similar tactic with his son who loves Minecraft, a game that Cuban says can be “intellectually stimulating.” according to Cuban. “If he watched math videos or did math problems for me, he could earn time to watch Minecraft videos.”

His management techniques are valuable tools for parents, especially considering the current conversation around safe phone use and our children .

To hear the full conversation, click here.

You can also listen to the Thrive Global Podcast internationally for free on iTunes and Stitcher.