Billionaire owner of the Dallas Mavericks Mark Cuban recently spoke about Los Angeles Clippers owner Donald Sterling's racist remarks and admitted that at times everyone has their prejudices.

"If I see a black kid in a hoodie and it's late at night, I'm walking to the other side of the street. And if on that side of the street, there's a guy that has tattoos all over his face--white guy, bald head, tattoos everywhere--I'm walking back to the other side of the street," he said candidly in a video interview with Inc.

Cuban explained that there are stereotypes that everyone is afraid of, and will react differently to. He notes that because these things exist he tries not to be hypocritical. "I know I live in a glass house, so it's not appropriate to throw stones."

He then further elaborated, "I know that I'm not perfect...While we all have our prejudices and bigotries, we have to learn that it's an issue that we have to control, that it's part of my responsibility as an entrepreneur to try to solve it, not just to kick the problem down the road."

The outspoken basketball team owner said when he encounters bigotry in the workplace he wants to help that person and try and rehabilitate them to have a better understanding of people. He feels that if he kicks them to the curb there will be no lesson or them growing as a person.

Cuban believes NBA commissioner Adam Silver made the right move in banning and fining Sterling. As an owner of the Mavericks, Cuban himself had a chance to vote for or against the Clippers owner being allowed to maintain his team.

"I think Adam had to do it. There's a lot at stake for the NBA--it has to be a leader in the culture... but it's a slippery slope, " he said. "You can't keep that ugliness out of the league. There's no law against stupid--I learned that a long time ago."

Cuban is a self-made billionaire, and started his first business while in college. He hit it big when he sold his $500 start-up software company Micro Solutions for $6 million. He is also currently a "Shark" on ABC's entrepreneurial show, "Shark Tank."