Homemade billionaire Mark Cuban says new innovations and companies will emerge from the pandemic and create what he calls “America 2.0”.
“At the start of the pandemic, terrifying as it was, I was talking about companies that we will look back on [on] in 10 or 15 years that were created “during that time, Cubans Real Vision founder and CEO Raoul Pal said in an interview published on February 9th.
According to Cuban, an investor in ABC’s Shark Tank and owner of the Dallas Mavericks, one of those things will be the evolution of blockchain technology and the companies that result from it.
“What we are seeing now with this collaborative effort and the foundation of blockchain applications that people stuck at home can try to make money … just changed the game 180 degrees,” he said.
If you don’t understand blockchain, the Cuban said, “It will hit you and make you bleed.”
Blockchain is a decentralized digital ledger that documents transactions such as cryptocurrency and the development of which reminds Cubans of the “early days of the Internet”.
“It’s like the early days of the internet – brand new, no one really knows what it will be. [There’s] lots of projections, “he said.”[W]When we started AudioNet, which turned into Broadcast.com, I can’t tell you how many times everyone has said, ‘Internet broadcasting? There is no chance. I don’t need this internet craze to do that. ‘A lot of people thought we were crazy. “
In 1995, the Cuban and a friend, Todd Wagner, started an internet radio company called Broadcast.com. Despite his naysayers, Broadcast.com was acquired by Yahoo in 1999 for $ 5.7 billion in shares, making Cuban a very wealthy man.
Cubans pointed out that blockchain and internet companies like his Broadcast.com share similarities. “It feels the same as it did in the early days of the internet.”
For example, “It took some time to get the bandwidth available and cheap enough for streaming and cable cutting to really happen. It’s been 20 years on the internet, give or take, and we’re only 10, 12 years old.” Crypto after starting with Bitcoin, “he said.
So for other crypto currencies like ether; Transaction block chain; or smart contracts: “There is still a long way to go and there will be a lot of companies that don’t work, but you will get some winners!”
Cuban itself recently auctioned digital goods online, including a Mavs Suns Game Day Experience video, via crypto tokens called NFTs, or non-fungible tokens.
“I posted some videos that the Mavs had for sale,” he said. “I sold them for a lot more than I expected.”
Mintable, the digital marketplace where Cubans auctioned their digital goods, rewarded Cubans with a “resale commission” to reflect their copyright ownership of the goods, he said. “And when I saw that, I fell in love.”
“This is what has been missing forever in the transportation of all goods. Again, it’s the same feeling as in the early days of the Internet.”
The development of blockchain and digital goods is the future of business, according to Cubans.
“Well, that’s America 2.0. That’s Money 2.0. And I don’t mean currency money, I mean being able to make money digitally has changed. The only thing we don’t know is who the Amazons are and who the Pets.” .coms, “a pet food and supply company that collapsed after the dot-com bubble burst.
While Cubans aren’t sure how long it will take or which companies will dominate blockchain, he is certain that “Disruptors will win. We just don’t know which ones or exactly how they will win, but they will win,” he said .
“They always do. I don’t see horses and buggies. I don’t see any CD makers who are doing really well.”
Disclosure: CNBC owns the exclusive off-network cable rights to “Shark Tank”.
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