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Speaker 1: Welcome to another episode of Strictly Business, the podcast in

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Speaker 1: which we talked with some of the brightest minds working

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Speaker 1: in media today. I'm Andrew Wallenstein with Variety. It's safe

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Speaker 1: to say Mark Cuban was tech before tech was cool.

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Speaker 1: Serial entrepreneur long before joining ABC's Shark Tank, he's been

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Speaker 1: a keen observer of the technology world going back to

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Speaker 1: when he sold his first company to CompuServe. So it

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Speaker 1: makes sense to catch up with him in Las Vegas

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Speaker 1: earlier this month as c e S, where he joined

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Speaker 1: me on stage at Variety's annual summit for a wide,

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Speaker 1: raging interview. But I want to start with just here

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Speaker 1: at c S. Do you typically come here? Is this

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Speaker 1: I've been coming since it started, you know, I came

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Speaker 1: started coming when I was a kid, and there's always

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Speaker 1: something different, There's always something new, and it's it's funny

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Speaker 1: because there's always these inflection points where one year it's

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Speaker 1: really amazing and then is Warren Buffett has to say,

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Speaker 1: first there's the innovators, then there's the imitators, then there's

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Speaker 1: the idiots, right, and so CEES kind of reflects that

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Speaker 1: you'll you'll there'll be certain shows whether you look around,

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Speaker 1: Oh my god, this is so innovative. Then the next

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Speaker 1: five years it will be okay, here the um the imitators.

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Speaker 1: Then the next three years it'll be you know, all

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Speaker 1: the idiots that are trying to do what people did

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Speaker 1: ten years earlier. And so this year we're we're at

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Speaker 1: the imitation stage because you're seeing so much with self driving,

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Speaker 1: you're seeing so much with everything is AI now, right,

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Speaker 1: and people still don't really know what AI is, you know,

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Speaker 1: so people put AI in their resume and you'll ask

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Speaker 1: them questions and it'll be a spreadsheet algorithm. You know,

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Speaker 1: if this then that you know, or they'll try to

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Speaker 1: put it in IoT and not really understand what they're doing.

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Speaker 1: And so we're going through the imitation phase with AI,

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Speaker 1: where people are just really understanding the applications and how

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Speaker 1: to put it to work. And you know, we're not

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Speaker 1: we're not really all the way there yet. But with

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Speaker 1: am in Voice, we're in the innovation stage still because

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Speaker 1: we're all we're seeing Google Home, we're seeing Alexa, and

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Speaker 1: we're all finally kind of used to walking into our homes,

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Speaker 1: our bathrooms. I mean, I don't know about you, but

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Speaker 1: I walk into a hotel room, you know, because I

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Speaker 1: travel a lot and it's just natural for me to say, Alexa,

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Speaker 1: what's the weather, And you realize there's no Alexa there,

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Speaker 1: and so that's what's changing. So we're we're at CES

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Speaker 1: this year. You're starting to see a lot of innovative

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Speaker 1: applications for ambient voiced voice, and I think that's gonna

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Speaker 1: really start taking off. So you're bullish on this space,

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Speaker 1: and oh yeah, I'm hugely bullish on it. And if

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Speaker 1: I was sixteen years old looking to start a business,

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Speaker 1: I would learn Google Home, I would learn Amazon Alexa,

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Speaker 1: I would learn Microsoft stuff, and I would start, you know,

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Speaker 1: learning how to create scripts. And so I would go

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Speaker 1: to my neighbors. I'd be like, Hi, I'm sixteen, I'm

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Speaker 1: in high school. Do you know what Alexa is. I'd

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Speaker 1: like to show you what it is and how you

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Speaker 1: can do da da da da da da da and

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Speaker 1: charge you thirty dollars an hour to set it up

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Speaker 1: for your house. What any of you say no? Because

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Speaker 1: there's so many things you can do with Alexa that

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Speaker 1: you don't even realize, Like I mess with my kids.

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Speaker 1: So um, I set up a little Alexa script so

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Speaker 1: that when they're friends. You know, I'm I'm a dad.

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Speaker 1: My kids are ten, thirteen, and sixteen, and like all dads,

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Speaker 1: I like to embarrass the ship out of my kids.

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Speaker 1: And so my ten year old son, his name is Jake,

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Speaker 1: and so as friends will come in, he's like, Dad,

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Speaker 1: don't do it. I'll be Alexa who is Jacob Cuban.

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Speaker 1: And Alexa comes back And I wrote the script because

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Speaker 1: Jacob Cuban is also known as the farc Master, and

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Speaker 1: you know, and just so there's so many things that

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Speaker 1: can be done, not just in in you know, around

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Speaker 1: the house, but in business as well, in medical applications,

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Speaker 1: and we aren't really coming to groups with how we

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Speaker 1: can use them as entrepreneurs and as business people. What

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Speaker 1: are anything else? I mean, when I think about another

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Speaker 1: sort of hyped technology that's two letters, it's not AI

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Speaker 1: A lot of five G talk make of that. I mean,

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Speaker 1: we're not there yet. It's just starting to come out

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Speaker 1: and we need the phones in order to make it work.

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Speaker 1: But in dense urban areas it's going to be huge. Um,

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Speaker 1: you know, it's got it's got propagation issues, but it's

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Speaker 1: zero latency. And so like with the Mavericks, if gambling

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Speaker 1: is ever legalized in Texas. I mean having a five

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Speaker 1: G device with zero latency to be able to do

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Speaker 1: prop prop betting and different things like that. It's gonna

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Speaker 1: be huge, right, Being able to walk around and get

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Speaker 1: one gigabut get a bit of bandwidth is going to

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Speaker 1: be huge, you know. And so there's all kinds of

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Speaker 1: edge applications. So I'm bullish on five G. But we

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Speaker 1: have to see how it's built out. And the unfortunate

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Speaker 1: thing is it's gonna be good where in dense areas,

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Speaker 1: and it will be good and wide open areas where

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Speaker 1: there's no buildings to block it, and then everybody else

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Speaker 1: will have to see what happens. But yeah, I'm a

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Speaker 1: huge fan of five G. Okay. Well, another thing that's

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Speaker 1: certainly a big theme here at c e S is

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Speaker 1: the streaming wars. Uh. It's you're seeing the signs everywhere Peacock, HBO, Max, Uh,

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Speaker 1: You're you're a streaming guy from way back at the

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Speaker 1: broadcast dot com days. I'm curious. I mean, this is

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Speaker 1: when you're seeing them these massive companies put together these

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Speaker 1: massive efforts on these streaming services. What do you think

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Speaker 1: of all this? I think this is exactly what we

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Speaker 1: expected five years ago. How so literally, I mean, I

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Speaker 1: started a company called audio Net with Todd Wagner in

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Speaker 1: nineteen early and we're like this internet thing that doesn't

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Speaker 1: have any audio or video, but it will, So let's

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Speaker 1: let's get out in front of it, because at some

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Speaker 1: point everything is going to be connected to everything. And

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Speaker 1: the under underpinning, um thought behind it is that bits

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Speaker 1: are bits. A bit doesn't care what it carries. It

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Speaker 1: doesn't care if it's audio, video, VR, a R, whatever

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Speaker 1: it may be. And as long as you can get

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Speaker 1: it from one source to a destination, you can do

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Speaker 1: anything with it. And so we're starting to see right

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Speaker 1: now that media companies are finally recognizing that people want content,

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Speaker 1: whatever type of is, how they want it, where they

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Speaker 1: want it, when they want it. And I don't think

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Speaker 1: that we can be overwhelmed with it, you know, yeah,

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Speaker 1: I really really don't. I mean prior, you know, back

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Speaker 1: in the day when people say, well, streaming versus television,

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Speaker 1: I used to tell people the definition of television is

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Speaker 1: the best alternative the boredom, right, because that's how we

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Speaker 1: watch television. You know, what you what were you doing

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Speaker 1: when I was watching TV? You know, now you know?

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Speaker 1: And then along those same lines, you go into an

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Speaker 1: office somewhere for an appointment, and there'd be somebody sitting

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Speaker 1: at the front desk on their Windows PC playing solitaire,

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Speaker 1: right or doing you know whatever, playing crossword puzzles. We

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Speaker 1: we all look for ways to fill time. And now

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Speaker 1: with devices five G comming with less latency, with better bandwidth,

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Speaker 1: we're gonna be looking with for even more ways to

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Speaker 1: feel time. There's no shortage. Now does that mean that

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Speaker 1: we're gonna that we're going to subscribe to every single

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Speaker 1: streaming service? Now we're gonna pick and choose, you know,

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Speaker 1: just like there's five channels on what used to be

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Speaker 1: TV traditional TV, and we watched twelve to fifteen of them.

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Speaker 1: But the more important thing is if is the quality

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Speaker 1: of the content as it pertains to each individual. If

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Speaker 1: you're a huge Game of Thrones fan, and there was

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Speaker 1: the equivalent of Game of Thrones on twelve different services,

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Speaker 1: if you could afford it, you subscribe to twelve different services.

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Speaker 1: If you're a huge sports fan and who happens to

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Speaker 1: like M m A, you'll subscribe to an m m

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Speaker 1: A driven service. So we'll customize it and we'll pick

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Speaker 1: and choose. And you know, in in a universe the

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Speaker 1: three million plus people, however many households, A hundred twenty

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Speaker 1: eight million households. Um, that's a lot to go around.

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Speaker 1: And if you if you perceive it as every single

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Speaker 1: household will have multiple streaming services, which is what I believe.

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Speaker 1: That's just domestically, let alone globally, there's plenty of room

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Speaker 1: if you create good content. Where is the pay TV

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Speaker 1: business and all this because you could argue that what

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Speaker 1: we're seeing now is sort of this transitional phase and

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Speaker 1: that we're eventually going to see some sort of rebundling

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Speaker 1: where you don't have to buy a twelve different streaming services.

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Speaker 1: We're already seen that to a certain extent. Now, um,

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Speaker 1: here's the great unknown TV now trans older, there's still

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Speaker 1: eighty six million households I think it is that are

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Speaker 1: getting traditional TV of some sort. And so right now

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Speaker 1: you're seeing the average age of TV traditional television audiences

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Speaker 1: get older and older. What we don't know is whether

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Speaker 1: people age into traditional television or they'll stay with what

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Speaker 1: they did as as a younger um younger adult. So

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Speaker 1: when you hit fifty, you know, if you if you're thirty.

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Speaker 1: Now when you hit fifty or you're gonna prefer traditional

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Speaker 1: television because there's fewer choices. You know, that's what we

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Speaker 1: don't know. So if we continue to do, if if

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Speaker 1: that happens, then traditional TV says valid um. And then

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Speaker 1: there's sports. You know, what's interesting is when you talk

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Speaker 1: to the ESPNS, you talk to the m v p

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Speaker 1: d s, they're saying, you know, even though sports is

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Speaker 1: kind of been um looked at it as being the

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Speaker 1: evil empire because the cost, that's really what's keeping traditional

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Speaker 1: TV in place. And if you look at the ratings

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Speaker 1: right now, wh's really changed. Like six years ago, even

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Speaker 1: for Shark Tank to get a two point oh in

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Speaker 1: the eighteen to forty nine category was a good night.

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Speaker 1: Right now a point eight is a good night for

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Speaker 1: broadcast television, which is crazy when you think about it.

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Speaker 1: But in parallel to that, now the NBA ratings are

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Speaker 1: down in total viewers, but and that's that the client

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Speaker 1: is decreasing. But in the eighteen to forty nine UM

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Speaker 1: ratings in the demo, we're pulling point seven point eight

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Speaker 1: point nine, which means now sports television on cable is

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Speaker 1: pulling the equivalent of broadcast television other than I think

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Speaker 1: like on Thursday nights for the biggest and obviously excluding

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Speaker 1: the NFL, who's killing it on television. UM, But we're

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Speaker 1: becoming stronger. Sports is becoming more important to traditional television

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Speaker 1: to keep it alive, and so I think you're gonna

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Speaker 1: see sports stay there just because of the economics. The

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Speaker 1: traditional television UM distributors, the MVPDs need us more now

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Speaker 1: than they did then. But anything in the long term,

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Speaker 1: the facebooks and Google's of the world will beat away

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Speaker 1: that content, I pray to God. So the n b

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Speaker 1: A is you know, because because of Facebook, Google, whoever, Amazon,

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Speaker 1: whoever it may be, is competing with traditional television, the

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Speaker 1: licensing fees are just gonna skyrocket yea, literally, And so

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Speaker 1: why would streaming companies want to even get into traditional

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Speaker 1: sports for a couple of reasons. You know. One of

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Speaker 1: the big challenges when you have an almost unlimited number

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Speaker 1: of over the top streaming services is churned. Right. Well,

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Speaker 1: if you're able to go out there and get NBA content,

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Speaker 1: and the NBA now is becoming year round content, you

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Speaker 1: reduce your churn. And so what's the value And the

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Speaker 1: same with whether it's NFL, whether it's NHL, majora sock,

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Speaker 1: whatever it may be, MLB. All you know, people who

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Speaker 1: have an affinity for a team or for a league

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Speaker 1: or for sport, they're not gonna churn because they're gonna

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Speaker 1: want to continue to see more games. So our value

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Speaker 1: continues to go up on the streaming side. And plus

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Speaker 1: it's very difficult. It's because there's so much long tail.

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Speaker 1: It's very difficult to get people to go to one

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Speaker 1: streaming service when you you know, with the have to

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Speaker 1: have content and against sports fills that need. Well, we

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Speaker 1: talked TV. I'm curious to get your sense of the

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Speaker 1: movie business. You were in the theater business. Uh, what

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Speaker 1: do you think the state of that business is? Would

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Speaker 1: you get involved in that business all over again in

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Speaker 1: the year. Um, we used to own Landmark Theaters, um,

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Speaker 1: and we still have Productions and Magnolia Films. Um I did.

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Speaker 1: We didn't sell Landmark because we thought there was some

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Speaker 1: overwhelming move away from going to theaters. Um, just because

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Speaker 1: I was just tired of dealing with the ship of

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Speaker 1: it all. You know. Um, at some point it's just

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Speaker 1: like this some out and so um that was that.

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Speaker 1: But no, look, you bullish still on theaters. What's what's

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Speaker 1: that you're bullish still on theater? Yeah, because you know,

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Speaker 1: I've got a sixteen year old daughter. I don't want

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Speaker 1: her saying, yeah, I'm going on a date. We're gonna

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Speaker 1: Netflix and chill. Right, that's when it comes down too.

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Speaker 1: And so I wanted to say, yeah, dad, we're going

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Speaker 1: to the movies. I'm like, Okay, sit under a light

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Speaker 1: or something. But but yeah, so people still want to

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Speaker 1: go out. You still want to you still want to

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Speaker 1: get out of the house and do things. Um, and

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Speaker 1: you're seeing now the difference is you're not gonna go

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Speaker 1: to the number of films that you might have gone

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Speaker 1: to in the past, and so the films are bigger

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Speaker 1: and hopefully more impactful, um, because you might as well

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Speaker 1: just watch you know, bird Box in the past might

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Speaker 1: have come out in theaters, Um, now it's gonna come

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Speaker 1: out on Netflix. So there's gonna be a segment of

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Speaker 1: movies that that aren't gonna be there, and that makes

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Speaker 1: it a little bit more challenging. But I think the

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Speaker 1: number of theaters will decline, but that don't improve the

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Speaker 1: business for the ones that will remain. So we're seeing

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Speaker 1: some serious challenges to both the TV and film businesses.

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Speaker 1: Uh do you think, you know, looking at the typical

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Speaker 1: companies that are known as Hollywood, those conglomerates, how do

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Speaker 1: you feel about the cards they have to play going

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Speaker 1: against these tech companies nowadays? I mean, good contents, good content.

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Speaker 1: You're just seeing people You've seen the tech companies hired

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Speaker 1: the people that were at the traditional um content creators,

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Speaker 1: and so it always comes down to storytelling. Period end period,

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Speaker 1: end of story, you know, And I'll tell you a

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Speaker 1: quick story. But you all didn't know that. As an

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Speaker 1: executive producer, I've been nominated for six Academy Awards for

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Speaker 1: which movies. So quick story? Um night. In two thousand four,

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Speaker 1: a guy named Alex Gibney sends me an email and

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Speaker 1: he says, Mark, I've got all this content from this

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Speaker 1: company called Enron. Are you familiar with him? Like? Yeah?

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Speaker 1: And um He's like yeah, We've got all this great

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Speaker 1: video that they took at their meetings and stuff. I'm like,

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Speaker 1: you have exclusive to it and you own the rights

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Speaker 1: to it. He's like yeah, and I'm like, what do

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Speaker 1: you want to do? He goes, I want to do

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Speaker 1: a documentary and it's gonna it's also going to be

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Speaker 1: based off the book and run The Smartest Guys in

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Speaker 1: the Room. Um said, how much is the documentary going

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Speaker 1: to cost to produce? He said, seven seventy thousand dollars.

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Speaker 1: I'm said, let's do it. That took twelve minutes and

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Speaker 1: that movie and on the Smartest Guys in the Room.

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Speaker 1: The documentary got nominated for Academy Award. The next it

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Speaker 1: went but at the time was one of the top

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Speaker 1: ten grossing documentaries of all time. Um, the next movie

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Speaker 1: comes along. My partner, Todd Wagner comes and says, George

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Speaker 1: Clooney has got this black and white um movie that

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Speaker 1: he wants to do with participant Um Pictures. And it's

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Speaker 1: about the McCarthy era and news gathering. And it was

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Speaker 1: called Goodnight and good Luck, and it was I lied,

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Speaker 1: I'm nominated for seven Academy Awards because it was nominated

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Speaker 1: for six, right, and I'm partying. I'm thinking my first

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Speaker 1: two movies getting nominated for seven Academy Awards. This ship

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Speaker 1: is easy. You haven't heard of a damn movie I've

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Speaker 1: done since, you know, And so it's hard. Content is

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Speaker 1: hard content. You know. The hierarchy used to be so

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Speaker 1: simple and if you put in enough money for P

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Speaker 1: and A for advertising, it would pay itself back. Now

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Speaker 1: it's it's a different ecosystem. But again, if the intent

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Speaker 1: is good and you know how to drive an audience, um,

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Speaker 1: it'll work. Got it? Well? Well? Back in the in

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Speaker 1: the TV content side, what what season of this Shark

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Speaker 1: Tank is this for you? Eleven? Wow? I mean when

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Speaker 1: you started this, did you understand the ride you were

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Speaker 1: about to take? Hell? No. So I got asked by

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Speaker 1: Mark Burnett the second season to come on as a

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Speaker 1: guest shark for three episodes. And it had been balancing around,

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Speaker 1: like when when Desperate Housewives had the week off they

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Speaker 1: put in Shark Tank and and so I'm like, look,

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Speaker 1: this is a business show. It has no chance it's

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Speaker 1: gonna be gone after this season. I'll do my three episodes.

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Speaker 1: I'm gonna buy up every company and raise as much

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Speaker 1: hell as I possibly can. Here we are in season eleven,

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Speaker 1: and it's still relative to everything else on television, still

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Speaker 1: going really strong, and I expect us to be back

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Speaker 1: for season twelve. Um. But yeah, it's it's just I

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Speaker 1: never expected in a million years. And it used to

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Speaker 1: be people knew me for you know, owning a basketball

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Speaker 1: team and raising hell and getting fined and now it's

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Speaker 1: it's all shark Tank and they don't know anything about

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Speaker 1: the NBA side. Hasn't changed the way you invest and

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Speaker 1: do business? Well, I have my Shark Tank. Did any

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Speaker 1: here watch Shark Tank? Come on in this room? What

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Speaker 1: the hell about the rest of you? What? What's Sunday

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Speaker 1: nights on ABC? You can streaming on Hulu? Um and

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Speaker 1: if you have to turn on CNBC, it's on every

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Speaker 1: day the day. Um. So where were we investing? Yeah? Um?

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Speaker 1: So put aside the Shark Tank companies because those I

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Speaker 1: do for a variety of different reasons. Um, Sometimes you

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Speaker 1: just want to send a message. Sometimes it's a great entrepreneur.

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Speaker 1: Sometimes it's somebody I just want to try to help,

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Speaker 1: you know, And they work over like a normal distribution.

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Speaker 1: Of my companies have just crushed it. I've made money

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Speaker 1: on them, I've sold some and done really well or

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Speaker 1: just idiots and then everybody else falls in the middle somewhere.

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Speaker 1: But in terms of where I'm investing, um, everything around

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Speaker 1: AI period of the story. And I know it's got

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Speaker 1: a lot imitators now yeah, and a lot of idiots too,

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Speaker 1: And um, if you're in business. One of one of

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Speaker 1: the challenges I see going forward around AI. The big,

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Speaker 1: big big companies, the Googles, the um Facebook's, the Amazons,

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Speaker 1: et cetera. They can spend billions of dollars on AI

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Speaker 1: and go through trial and err and learn what works,

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Speaker 1: learn what doesn't work, and learn what the results are impactful,

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Speaker 1: and they are impactful. Then underneath those companies they are

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Speaker 1: the multibillion dollar companies. Those companies have challenges with AI.

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Speaker 1: AI is hard, It is really hard to do. You

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Speaker 1: don't know what data do you use. You don't know

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Speaker 1: if your outcomes are correct, you don't know, there's so

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Speaker 1: many uncertainties. But it's even harder for small companies. That said,

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Speaker 1: if any of you are entrepreneurs, if any of you

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Speaker 1: are in the business world, if you don't know AI,

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Speaker 1: you're the equivalent of somebody in saying, yeah, I'm sure

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Speaker 1: this internet thing will be okay, but I don't give

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Speaker 1: a ship, right, you know, it's it's the same thing.

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Speaker 1: And so each and every one of you in the

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Speaker 1: business world like what what I did? I mean, it's

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Speaker 1: not like we attuitively know what AI is. I'm on

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Speaker 1: a w S and I'm taking their tutorials. I'm taking

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Speaker 1: Coursera classes, and I'm, you know, learning how to do

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Speaker 1: a three letter, three layer neural network in JavaScript, you know,

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Speaker 1: using pytors. Just's just all these things. It's the blocking

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Speaker 1: and tackling that if you want to be relevant in

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Speaker 1: business and understand all this discussion about AI, you have

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Speaker 1: to do or you will be a dinosaur very quickly,

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Speaker 1: and you will find yourself being there's gonna be a

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Speaker 1: I have and a I have nuts And if you

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Speaker 1: are an A I have not you might you might

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Speaker 1: as well just rip out all the computers in your

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Speaker 1: office and throw away your phones, because that's how impactful

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Speaker 1: it will be. Is there any particular venture where you're

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Speaker 1: putting AI knowledge to works and then to keep an

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Speaker 1: eye on um, Well, if you go to Mark Cuban

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Speaker 1: dot com, I list them all and there's a lot

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Speaker 1: of them. There's there's a company called no dot io

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Speaker 1: n O d E dot io and what we're trying

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Speaker 1: to get them too, and it's it's a lot that's

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Speaker 1: still we've still got work to do, but it's getting close.

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Speaker 1: Is to make it a platform that any small to

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Speaker 1: medium sized business can use. So it will help aggregate

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Speaker 1: your data and help you you know, you have some

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Speaker 1: intuition on what your data is telling you without you

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Speaker 1: having to be an ai expert. And so that's one.

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Speaker 1: We have one called Eon e O N that helps

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Speaker 1: when when people are admitted to a hospital. It takes

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Speaker 1: the data from the patient and other patients across the

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Speaker 1: hospital and helps predict what readmissions may be so that

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Speaker 1: you can go out and deal with the patient prior

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Speaker 1: to them being readmitted and hopefully prevent them from having

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Speaker 1: to be readmitted. I've got another one, genes tesis that

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Speaker 1: you know, takes a weight that there's a sensor. Every

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Speaker 1: one of our organs in our body amits electrical pulse,

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Speaker 1: and there are sensors that allow you to capture that

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Speaker 1: electrical pulse. It saves the sensor UM when it captures

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Speaker 1: the electric pulse from your heart and then runs it

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Speaker 1: through all these different predictive ai UM algorith machine learning,

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Speaker 1: and will tell you if you're most likely to have

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Speaker 1: a heart disease. And why is that important? Any guy

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Speaker 1: over the age of fifty is you know remember what

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Speaker 1: was the show UM with red Um? Yeah? Red Fox?

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Speaker 1: Where here I come? You know, it's the big one

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Speaker 1: um for all you old guys in their house. Um.

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Speaker 1: And and so you know, every every you know, aging

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Speaker 1: adult male has felt chest pain and you don't really

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Speaker 1: know what it is when you go to the hospital,

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Speaker 1: and they can just they just guess. And so with

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Speaker 1: Jennis Teess, by taking that output, they're able to look

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Speaker 1: at um that I'll put in, run it through AI

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Speaker 1: and give you a pretty good indication with more than

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Speaker 1: outres accuracy what exactly is going on with your body.

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Speaker 1: So those are things that I think are world changing

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Speaker 1: that hopefully were the innovators, um, maybe a little imitation

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Speaker 1: and hopefully not the idiots. Well switching gears. Want to

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Speaker 1: talk to you about TikTok. This man is on TikTok

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Speaker 1: talk about being ahead of the curve. Cuban M cuban.

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Speaker 1: If you haven't checked it out, you must. What do

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Speaker 1: your kids think of your antics? Right? We have? It's

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Speaker 1: like family, so you know. On TikTok the videos are

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Speaker 1: music driven, typically with dancing, and the whole basis of

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Speaker 1: TikTok is one of the popular TikTok dos does the

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Speaker 1: dance and then everybody else duets with them. Their copies

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Speaker 1: them right, and then they have algorithms that because I

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Speaker 1: was just talking to him, gonna try to meet with

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Speaker 1: them here as well and asking about the algorithms because

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Speaker 1: it's crazy how well they work. And so they look

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Speaker 1: to see how many times someone watches something repetitively. And

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Speaker 1: so my daughter, my sixteen year old daughter, Alexis, is

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Speaker 1: pretty well figured out intuitively how the algorithms work. So

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Speaker 1: she comes home. It's like our family adventure. She's like, okay, Dad,

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Speaker 1: here's the dance you have to learn, and you know,

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Speaker 1: I'm you know, so if you go down Cuban and

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Speaker 1: see it, I mean, it's just like it's crazy stuff.

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Speaker 1: But we did. We were to dance the other day

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Speaker 1: where She's doing this for about fifteen seconds and I'm

425
00:21:47,000 --> 00:21:49,000
Speaker 1: just taking whip cream to the beat, you know, and

426
00:21:49,080 --> 00:21:52,520
Speaker 1: just eating, you know, whip cream from the container. And

427
00:21:52,560 --> 00:21:55,639
Speaker 1: he got one point six million views in twenty hours,

428
00:21:56,600 --> 00:21:59,680
Speaker 1: you know. And it's just, you know, every new social

429
00:21:59,720 --> 00:22:02,560
Speaker 1: media platform that takes off, there's always early adopters that

430
00:22:02,600 --> 00:22:04,920
Speaker 1: get the benefit of being an early adopter. But what's

431
00:22:04,920 --> 00:22:08,800
Speaker 1: been brilliant about TikTok is it's really it's not completely

432
00:22:08,880 --> 00:22:11,200
Speaker 1: kids safe, but for the most part, it's kids safe,

433
00:22:11,200 --> 00:22:13,320
Speaker 1: and I have no problems with my ten and thirteen

434
00:22:13,400 --> 00:22:17,080
Speaker 1: year old being on there and it there's families and

435
00:22:17,119 --> 00:22:19,480
Speaker 1: families and families that are going on. They're like us

436
00:22:19,840 --> 00:22:22,719
Speaker 1: doing these stupid dances that are fun as a family

437
00:22:22,800 --> 00:22:25,640
Speaker 1: to do that. You know, my kids love the attention

438
00:22:25,680 --> 00:22:28,840
Speaker 1: they're getting online and you know it brings us together

439
00:22:28,880 --> 00:22:31,600
Speaker 1: and it's just a completely different platform for that. But

440
00:22:31,720 --> 00:22:34,800
Speaker 1: is it more for you than a family bonding tool?

441
00:22:34,880 --> 00:22:37,640
Speaker 1: And do you think it's someplace you, as the Mark

442
00:22:37,680 --> 00:22:40,600
Speaker 1: Cuban brand needs to be or oh yeah, because these

443
00:22:40,640 --> 00:22:43,440
Speaker 1: are thirteen and sixteen year old kids, you know, even younger,

444
00:22:43,560 --> 00:22:45,600
Speaker 1: you know, eleven, they're supposed to be thirteen, I guess.

445
00:22:45,600 --> 00:22:47,639
Speaker 1: But you know even my eleven year old lying on

446
00:22:47,680 --> 00:22:49,640
Speaker 1: there and saying or ten year old is saying these

447
00:22:49,680 --> 00:22:54,439
Speaker 1: thirteen Um, I try not to say that's okay, but

448
00:22:54,560 --> 00:23:00,560
Speaker 1: you know, but yeah, so you know, everything has its

449
00:23:00,560 --> 00:23:05,840
Speaker 1: own has Every social media platform finds its demo. You know,

450
00:23:06,119 --> 00:23:08,280
Speaker 1: Twitter has found its demo. It's not really a young

451
00:23:08,320 --> 00:23:11,520
Speaker 1: demo at all. Instagram started off as a younger demo

452
00:23:11,640 --> 00:23:14,480
Speaker 1: and it's aging right. Facebook started off for college kids

453
00:23:14,520 --> 00:23:16,879
Speaker 1: and now it's you know, my mom and grand moms

454
00:23:16,920 --> 00:23:20,440
Speaker 1: and everybody else, you know, and and TikTok is kind

455
00:23:20,440 --> 00:23:24,960
Speaker 1: of filled from underneath. And so my my thirteen and

456
00:23:25,000 --> 00:23:27,399
Speaker 1: sixteen year old used to post everything on Instagram. Now

457
00:23:27,440 --> 00:23:30,439
Speaker 1: they don't. And it's not that they do everything. You know,

458
00:23:30,520 --> 00:23:33,920
Speaker 1: Instagram is still pretty pictures, your food, your your selfies

459
00:23:34,000 --> 00:23:36,280
Speaker 1: and you know, and going around places where you can

460
00:23:36,280 --> 00:23:39,800
Speaker 1: take a unique picture. But TikTok is just more engaging.

461
00:23:40,320 --> 00:23:43,040
Speaker 1: And when I look to see what they're doing just

462
00:23:43,359 --> 00:23:46,680
Speaker 1: by themselves, you know what's their cure for boredom. It's

463
00:23:46,840 --> 00:23:50,280
Speaker 1: they'll go through Instagram. They won't touch Facebook. Um, they

464
00:23:50,320 --> 00:23:54,200
Speaker 1: don't really go on Twitter. But if you haven't tried TikTok,

465
00:23:54,600 --> 00:23:57,639
Speaker 1: it's addictive watching these stupid dances. And that's what they do.

466
00:23:57,680 --> 00:24:00,159
Speaker 1: And so to your point from a brand, So I

467
00:24:00,160 --> 00:24:02,520
Speaker 1: got the MAVs on there. We you know, we've got

468
00:24:02,800 --> 00:24:05,439
Speaker 1: done some things with Shark Tank on there. Um, you

469
00:24:05,600 --> 00:24:08,040
Speaker 1: have to be there. And even like Snapchat now is

470
00:24:08,119 --> 00:24:11,160
Speaker 1: aging older and it's it's more chat and it's more

471
00:24:11,320 --> 00:24:13,920
Speaker 1: one to one. There's not as many stories as there

472
00:24:13,960 --> 00:24:16,360
Speaker 1: used to be, you know, used you know, through discovery

473
00:24:16,359 --> 00:24:18,320
Speaker 1: and everything, there were brands that would do stories and

474
00:24:18,359 --> 00:24:20,960
Speaker 1: that's all fine and good, but finding a way to

475
00:24:21,080 --> 00:24:25,880
Speaker 1: engage via TikTok because it's so quick and so simple. Um,

476
00:24:25,960 --> 00:24:28,679
Speaker 1: for now, that's it. And and you know, I got

477
00:24:28,760 --> 00:24:30,720
Speaker 1: into my sixteen and my ten year old gott into

478
00:24:30,720 --> 00:24:33,720
Speaker 1: this battle of you know, will Snapchat be the thing

479
00:24:33,760 --> 00:24:36,119
Speaker 1: of the future, will TikTok or will there be something else?

480
00:24:36,600 --> 00:24:39,440
Speaker 1: And they all think there'll be something else. It's just there.

481
00:24:39,520 --> 00:24:41,840
Speaker 1: They recognize that there's always going to be something new

482
00:24:41,920 --> 00:24:45,959
Speaker 1: and they're ready to adapt. These are all very powerful platforms.

483
00:24:46,000 --> 00:24:47,560
Speaker 1: But I think there's a double edged sword there. You

484
00:24:47,560 --> 00:24:51,080
Speaker 1: have to acknowledge. I mean, the regulatory threat that is

485
00:24:51,160 --> 00:24:54,520
Speaker 1: looming over this whole space. What what is your take

486
00:24:54,600 --> 00:24:58,120
Speaker 1: on that. You know, the law of then attended consequences

487
00:24:58,160 --> 00:25:01,399
Speaker 1: always catches up. I'm not big fan of trying to

488
00:25:01,440 --> 00:25:04,960
Speaker 1: regulate them, but I understand that, you know, Facebook has

489
00:25:05,040 --> 00:25:07,399
Speaker 1: stepped in it so many times that somebody's going to

490
00:25:07,480 --> 00:25:12,400
Speaker 1: do something that Twitter um has a unique responsibility that

491
00:25:12,760 --> 00:25:16,120
Speaker 1: it's been given more than it's asked for and there's

492
00:25:16,119 --> 00:25:19,879
Speaker 1: a chance it gets regulated. Um, it comes down to

493
00:25:19,960 --> 00:25:23,000
Speaker 1: the High House and what's you know, what, how is

494
00:25:23,000 --> 00:25:26,640
Speaker 1: it actually implemented? And so while I'm not a big fan,

495
00:25:26,760 --> 00:25:29,520
Speaker 1: I think it's inevitable that Facebook will and needs to

496
00:25:29,560 --> 00:25:32,800
Speaker 1: be UM regulated. And we'll see what happens with Twitter.

497
00:25:32,960 --> 00:25:34,800
Speaker 1: Like you and I were talking, you know, back in

498
00:25:34,840 --> 00:25:36,600
Speaker 1: the day, you would put out a news release on

499
00:25:36,640 --> 00:25:39,920
Speaker 1: PR Newswire and it could be the most insidiary news

500
00:25:39,920 --> 00:25:43,119
Speaker 1: release ever and no one would get mad at PR Newswire,

501
00:25:43,680 --> 00:25:47,480
Speaker 1: you know. But now, and even now, if someone took

502
00:25:47,480 --> 00:25:50,600
Speaker 1: two characters put it in a PR Newswire release and

503
00:25:50,640 --> 00:25:52,960
Speaker 1: just put it out there again, no matter how horrific,

504
00:25:53,320 --> 00:25:56,919
Speaker 1: no one would condemn PR Newswire. But the immediacy of

505
00:25:56,920 --> 00:26:00,440
Speaker 1: Twitter now, it's just it's just everybody's got a different aspective.

506
00:26:00,520 --> 00:26:03,080
Speaker 1: So I think they do end up being regulated, even

507
00:26:03,280 --> 00:26:05,520
Speaker 1: though I think, like I said, the law of unattended

508
00:26:05,560 --> 00:26:08,480
Speaker 1: consequences good bye us on it. Well, there's regulation. There's

509
00:26:08,520 --> 00:26:11,120
Speaker 1: also the possibility some of these bigger companies could get

510
00:26:11,119 --> 00:26:14,480
Speaker 1: actually broken up. That would be stupid, UM and I'll

511
00:26:14,480 --> 00:26:18,240
Speaker 1: tell you why. UM. Going back to AI, if you

512
00:26:18,280 --> 00:26:21,400
Speaker 1: look at the most powerful AI companies in the universe,

513
00:26:21,920 --> 00:26:26,440
Speaker 1: they're the companies that people are spoken about breaking up Facebook, Google, UM,

514
00:26:26,480 --> 00:26:30,880
Speaker 1: to less extent, Amazon and they're doing the research that's

515
00:26:30,960 --> 00:26:35,160
Speaker 1: keeping our country competitive with other countries in terms of AI.

516
00:26:35,320 --> 00:26:38,440
Speaker 1: Vladimir Putin says, whoever dominates AI is going to dominate

517
00:26:38,480 --> 00:26:41,879
Speaker 1: the world. China with their twenty three whatever it is

518
00:26:42,240 --> 00:26:44,840
Speaker 1: futures said AI was going to drive it. And you

519
00:26:44,880 --> 00:26:47,679
Speaker 1: see what they're doing, just not caring about privacy and

520
00:26:47,720 --> 00:26:50,159
Speaker 1: just pushing everything with AI. If you look at the

521
00:26:50,200 --> 00:26:52,560
Speaker 1: number of research papers that are being released every month

522
00:26:52,600 --> 00:26:55,280
Speaker 1: about AI. So we have to be careful what we

523
00:26:55,320 --> 00:26:57,399
Speaker 1: asked for in terms of breaking them up, because we

524
00:26:57,480 --> 00:26:59,800
Speaker 1: don't really have an AI policy as a nation, and

525
00:26:59,840 --> 00:27:02,760
Speaker 1: we haven't really taken significant steps to invest in it.

526
00:27:03,160 --> 00:27:05,199
Speaker 1: And so as a result, if we break up these

527
00:27:05,240 --> 00:27:07,760
Speaker 1: companies and they don't and they don't have the resources

528
00:27:07,760 --> 00:27:11,680
Speaker 1: to invest, we're losing our best opportunities. And plus they're

529
00:27:11,720 --> 00:27:14,399
Speaker 1: the ones that are hiring the best and brightest. You know,

530
00:27:14,560 --> 00:27:17,960
Speaker 1: we're actually keeping you know, students from going to work

531
00:27:17,960 --> 00:27:19,600
Speaker 1: for the Chinese, are going to work for the Russians,

532
00:27:19,640 --> 00:27:22,480
Speaker 1: are going to work somewhere else by Facebook, et cetera.

533
00:27:22,600 --> 00:27:24,719
Speaker 1: Hiring even if they if it's in a lab in Germany,

534
00:27:24,800 --> 00:27:26,320
Speaker 1: or if it's in a lab in Japan or wherever

535
00:27:26,359 --> 00:27:29,359
Speaker 1: it may be. That's a valuable, critical resource to this

536
00:27:29,440 --> 00:27:31,880
Speaker 1: country that we would lose if we broke up those

537
00:27:31,880 --> 00:27:35,199
Speaker 1: country companies. And so I think that's again we have

538
00:27:35,200 --> 00:27:37,600
Speaker 1: to be very careful. And I you know, I'm not

539
00:27:37,760 --> 00:27:40,240
Speaker 1: totally opposed to regulation if it's smart, but I would

540
00:27:40,240 --> 00:27:42,400
Speaker 1: be opposed to breaking them up. I think they'd be stupid.

541
00:27:42,920 --> 00:27:46,000
Speaker 1: Does the government that need to get involved in AI

542
00:27:46,040 --> 00:27:49,159
Speaker 1: and supporting that. Yeah, I mean, this is the new

543
00:27:49,240 --> 00:27:55,040
Speaker 1: space mission. We really really really really really really really

544
00:27:55,160 --> 00:27:58,360
Speaker 1: need to invest in it. We really do, because if

545
00:27:58,400 --> 00:28:03,560
Speaker 1: we don't, it could be cataclysmic. Literally, Yeah, I mean

546
00:28:03,600 --> 00:28:06,119
Speaker 1: once so not to get to Elon Muskin and to

547
00:28:06,359 --> 00:28:11,600
Speaker 1: terminator artists, but you know, once you get robotic manual dexterity,

548
00:28:12,080 --> 00:28:15,640
Speaker 1: once you get batteries that can go for days instead

549
00:28:15,640 --> 00:28:19,600
Speaker 1: of hours, and once you have you know, processors that

550
00:28:20,040 --> 00:28:22,600
Speaker 1: can do you know, a hundred x what they're doing.

551
00:28:22,640 --> 00:28:26,520
Speaker 1: Now you know we're gonna be discussing red pill, blue pill.

552
00:28:26,920 --> 00:28:29,280
Speaker 1: You know, it's it, and we'll be talking about you know,

553
00:28:30,040 --> 00:28:33,679
Speaker 1: military weaponry driven by robotics in AI. And if we

554
00:28:33,720 --> 00:28:38,320
Speaker 1: don't dominate that and somebody else does, that's not a

555
00:28:38,360 --> 00:28:41,440
Speaker 1: pretty picture. And so I think, you know, we really

556
00:28:41,600 --> 00:28:45,080
Speaker 1: as an as a country need to focus and make

557
00:28:45,120 --> 00:28:49,680
Speaker 1: that a priority because to not be dominant, and particularly

558
00:28:49,680 --> 00:28:53,480
Speaker 1: if the adversaries adversaries are then we have problems. You

559
00:28:53,560 --> 00:28:56,160
Speaker 1: can't think of a better note th end On than that, right,

560
00:28:57,040 --> 00:28:59,160
Speaker 1: Thanks for coming out, Mark pot Pleasure. Thanks to having

561
00:28:59,440 --> 00:29:04,040
Speaker 1: that's funny. This has been another episode of Strictly Business.

562
00:29:04,240 --> 00:29:07,560
Speaker 1: Tune in next week for another helping of scintillating conversation

563
00:29:07,640 --> 00:29:10,400
Speaker 1: with media movers and shakers, and please make sure you

564
00:29:10,440 --> 00:29:14,800
Speaker 1: subscribe to the podcast to hear future episodes. Also, leave

565
00:29:14,800 --> 00:29:17,440
Speaker 1: a review in Apple Podcast let us know how we're doing.

566
00:29:20,560 --> 00:29:21,000
Speaker 1: That's true,