Mark Cuban enthusiastic about the future of AI start-ups
By Tom Ballard, Chief Alliance Officer, PYA
What’s at the top of Mark Cuban’s list of technology start-ups that pique his interest?
“Things that are AI-driven” the well-known entrepreneur, business executive, and star on Shark Tank told attendees at last week’s “Venture Atlanta” forum. His lunchtime fireside chat concluded the 10th annual event.
“You don’t have to be an (AI) expert and have put together your own neural network,” Cuban said. “You have to have an understanding, because AI is going to change everything we do.”
Noting that business strategy work in the past involved running scenarios on spreadsheets, Cuban said that “AI can figure out every possible ‘what if’ (and) that’s why it is helping to change business. There’s not an industry that’s not going to be impacted.”
Explaining how personally impacted he is by the rapid emergence of artificial intelligence, Cuban says he has books about the topic in every room of his home and is constantly reading to learn more.
“Pay attention to AI,” he said. “There’s going to be a disruption in the types of jobs (in the future).”
Contrary to popularly-held beliefs among many entrepreneurs, investors and advisors, Cuban is a fan of going public under the right circumstances.
“If you get the chance, look into it,” he said. “Now is a really good time to think about it. You don’t have to be at $50 to $100 million in sales.”
Cuban, who is also a fan of blockchain start-ups, was asked about the best way to get his attention in an email.
“I make a decision after the first paragraph,” he said.
In terms of what he expects from entrepreneurs in whose start-ups he has invested, Cuban says he wants regular email updates and expects the information to not be sugar-coated.
“I want the bad news first,” he says. “My job is to help you (entrepreneurs) solve problems.”
Cuban explains that he’s “all in” with the companies he personally starts, while his approach is “supportive” for those in which he invests.