Why Mark Cuban says AI is "the great democratizer"
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Billionaire businessman Mark Cuban tells Axios that AI is leveling the playing field for young, low-income entrepreneurs
Why it matters: The longtime "shark" and Cost Plus Drugs co-founder tells Axios the free and low-cost AI tools are giving disadvantaged teens the chance to compete with seasoned pros — and it's changing how he does business too.
Cuban, a featured speaker at the Clover x Shark Tank Summit in Las Vegas this week, shared with Axios how AI is reshaping everything from his workouts to his company's research.
Editor's note: Responses have been edited lightly for length and clarity.
What do you mean when you say AI is democratizing the American Dream?
Cuban: "Right now, if you're a 14- to 18-year-old and you're in not so good circumstances, you have access to the best professors and the best consultants."
- "It allows people who otherwise would not have access to any resources to have access to the best resources in real time. You can compete with anybody."
What have you outsourced to AI at Cost Plus Drugs?
Cuban: "Competitor research. I use Lovable to create apps that can compare Cost Plus Drugs' pricing to other pricing. I use it to complement Google Alerts to find stuff I otherwise couldn't find."
- "There's nothing that I don't consider using it for."
Are you concerned about an AI bubble?
Cuban: "I don't think we're in the AI bubble that's comparable to the internet bubble."
- "The difference is, the improvement in technology basically slowed to a trickle. We're nowhere near the improvement in technology slowing to a trickle in AI."
What advice do you have for college students and recent graduates?
Cuban: "Don't go for the big companies, go to the small companies, because most likely you've learned how to code at some level. A small company really needs you — they want somebody who knows AI."
If you were a lawmaker, what policies would you create to prepare for the AI economy?
Cuban: "I'd rather deal with what we see coming out. If we see a company does A, B or C and we realize that's dangerous, [I'd rather] deal with that than trying to put roadblocks up front."
- "I think the guys who run the companies that have the biggest models will try to get some regulatory capture, which protects them and punishes others, and I think that's my greater fear."
How has AI changed your personal habits?
Cuban: "In terms of my health and workouts, [I use it] all day, every day, just feeding in information and asking for feedback, because it builds up the memory and it starts to know me."
- "The way people go to a doctor for a second opinion — I do the same thing with AI."
