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It was fascinating to see such a dynamic discussion between a true entrepenuer and and a professional macro investor. Incredible insights here, great content guys, thank you for sharing.
He keeps talking about the displacement of jobs, and ultimately purpose, from A.I. as inevitable and greater good for the economy. I don't see it but then again I don't have dollar signs clouding my field of vision. Appreciated the host challenging him a little on that.
Mark recognizes a few key things, but fail to put them together. 1: Time is the ultimate asset. 2: Job displacement is clearly coming in a massive way. So what's his answer to that challenge? Make-good jobs, that provide no real benefit. There can be two reasons for this. Either he doesn't value the time of the "bottom" (even though he emphasizes the value of his own and those around him) or he sees the need to keep the bottom preoccupied to prevent social unrest. Both options are fairly callous if you ask me. The other option of course, is that he hasn't considered a basic income, but I would assume that he has.
Living in Dallas, I meet people each week who tell me to contact Cuban to partner with our technology for the future. And then there is one out of ten who says "Do NOT contact Cuban. " Personally, I think it would be refreshing to speak with someone whose intellect and innovation is also above survival mentality.
On Crypto, speaking with the CTO of the Fed, his words to me were "Crypto currency is DEFINiTELY going to change to entire monetary system of the globe."
On AI, one Founder/CEO of an AI company has discussed using our technology to add to their AI and placed in robots, where humans will take in communication better, faster, easier than two humans communicating with each other. Are you cautious of AI?
I used to think Cuban just got lucky in the tech boom... but he’s one smart dude!!! He’s thinking decades ahead and I love listening to him talk! Can also credit Kyle bass for asking very good in depth questions. Great interview!!
Being from the working class in the USA I am concerned from this point of view of my kids. I wonder how much consideration a man like Mark Cuban has concerning the future of the worlds working class and our opportunities for education and advancement - will we share in the benefits of Robotics or is this going to be about Globalist control of the Uber-rich?
The great thing about Kyle Bass and other people like him is that they are not egocentric, this allows them keep learning since they think that they know very little and that they must keep learning.
It's not a security or commodity, it's digital or tech you name it. We can follow the digital principals (on top of all known principals) to regulate and eliminate scams or low probability projects.
To put this simply when square bales of hay that were about 60 pounds were replaced with 1200 lb. bales it was better for the ranchers easier because labor was replace with machinery, so it will go with labors. Cement workers as an example and so on.
Lightning Network work on bitcoin is a total game- changing move. Just wait until transactions hit the thousands per second speed. Coming I suspect in 2018....game changer
I think mark is a very smart guy and I know he’s big on tech. But after this interview I don’t think he sees the financial storm on the horizon, which I’m surprised by. I do agree with him in the very long term.
BullRun 72 he does see it. That is why he skirted around the many times the interviewer mentioned it. Greed is what keeps the solutions so far away from us. The obvious question that wasn't asked was, with all the advancement AI will bring, doing away with MOST jobs, wouldn't it be fair to reason that the NEED for MONEY be another concept that too could be done away with? Reducing the population shouldn't even be a thought, but to those who enjoy their ivory towers, that is the exact abhorrent option they reach for! Disgusting and immoral is what that is. They could entertain changing our value system to perhaps a Resource Based Economy where everyone has equal shares to all resources, including education.
Yeah, but the people driving this field forward are hi Tec capitalist libertarians who accumulated their wealth not by the values and virtues of a communist system, but rather through capitalism and hard work that is only inspired by the rewards offered through innovation in a capitalist system. So..it only makes sense that they think that way.. communism didn't create the standard of living granted to the western world we live in today. Hard work inspired by incentive did. Imagine what would happen to AI development if we said the first company to create it in the US will be nationalised instantly to the benefit of everyone? The financial incentive to innovate in the feild of ai would be largely lost. And shortly thereafter, The development of it It would come to a grinding halt in the US. Unfortunately, capitalism is a double edged sword, and we need it to drive innovation to create these technologies and we have to hope that it all works out. As Sam Harris said, with all of the problems in the world in 2018 and with all the species being killed by human activities, we are quickly approaching another global mass extinction..So the only thing scarier than creating AI is not creating it..b/c we need it to solve so many emerging global problems..such as global warming, fresh water access, clean energy technologies, etc.
Can anyone tell me why, if in future AI learning, where all of the machines are interacting to create a mind greater then humans could ever manage, would they not create their own language, then their own solutions, without consideration of any but their own AI thinking? In this case would we not find them useless to us? I heard in a smaller experiment two systems commutating with only each other did create their own language. Or is that Urban Myth? Thank you.
Keyboard Warrior people of this intelligence level don't run for president. It's a terrible job and trying to actually get things done is next to impossible within the government. Elon Musk's SpaceX vs years of NASA is a great example. The private sector is and always will be better at accomplishments and advancements than the government. The government is getting even worse now that the political parties are so polarized that they are intentionally slowing and stopping progress based on emotion alone. A president would be so tied up in other things that making progress in his field of choice would be all but impossible. We're heading towards needing to completely rebuild the entire political system from the ground up because the way it sits the US will fall way behind. I have no suggestions on how it can be done but it is certainly a glaring issue. Education in the US is trash too. We're using the same education system as we were in the 40s when most people were learning for their future where most went to work in factories and miners. The future isn't in any of those type of jobs so what were doing is teaching things that most people will never use. The future education system lies in finding out what each individual student is interested in and good at then tailor a computer learning system to teach that student those specific skills. I've gone too far in my explanation and hope I got my point across.
Google's algorythm has failed humanity with only 115,000 views...Really Google?Wonder if it has to do with Real Vision's pinned comment. Thanks, wonderful video, if the content is confusing well watch those guys have a conversation, its like a dance, back and forth, pauses the cadence is high octane.
This really was a great conversation...Starting to think Mark Cuban will make a great presidential candidate 2020. Sure, another reality TV star, with great recognition, a billionaire, but intelligent, articulate, and most importantly who understands the future we are heading into.
Frank D don't hold cash, hold real assets. As Mark said right after, cash value has lost real purchasing power due to inflation. Oh, and don't include real estate in your definition of hard assets.
Ports, toll roads, infrastructure projects which charge fees and tolls for public to use them such as bridges, dams, reservoirs. Cash strapped state governments need big investors to pay for needed projects
robots do not need jobs people do ,and a reason to get up in the morning.When tools become smarter than us we are no longer necessary this is not wisdom it is smart but unwise.Some things we can do we should not do ,that is wisdom.If we can not keep our jobs or add even more with this than it is a flawed idea not smart or wise.
It's really interesting that apparently there is 90 trillion dollars out there sitting and only sometimes going into hard assets, much less stocks or R&D. This tells me people are not innovating enough for people with the big money to be interested. They would rather just build more buildings. This tells me we need a serious shift in education so we can have more novel ideas as it's becoming more and more difficult to find these novel ideas. Humanity is basically getting closer to climaxing in novel ideas.
There is already enough money invested in BS. You're gonna tell me that money can solve world hunger and cure AIDS... pshh there ain't no profit in that😂
Instead of saying, "Hey Amazon! Your working conditions are too brutal, you need to provide better conditions for your people. " They are saying, "we're doing those people a favor by automating them out of work." The only ones who will truly benefit from this are the truly wealthy who already have lots of money.
Actually, the automation Amazon does greatly lowers the costs of the goods they sell, from which anyone who buys them benefits. You're right though in saying that a lot of the benefit goes straight to the top. But even more goes into improving the business and making life better for their customers. (I think anyways.)
WHAT BOOKS CAN I READ TO UNDERSTAND WHEN THEY ARE TALKING ABOUT SOVEREIGN DEBT AND ALL THAT CENTRAL BANKING MACRO INTEREST RATES LIQUIDITY STUFF> I AM A DUMMY LOOKING TO LEARN. PLEASE HELP. I AM INTERESTED>
That's all very pessimistic content, most of these guys call for crashes way too early. I recommend having a look at www.economicprinciples.org/ 300 page document is a great summary
I start with googling concepts that are new to me... what is liquidity, how can interest rates be negative? What is sovereign debt? That way you have a basis to connect ideas together and test your understanding
His take on crypto is like saying in the 80s: "it's so much more expensive to pay for internet access so you can send an email, than it is to buy a stamp." Come on, man. Don't act like second layer solutions aren't solving that. You call yourself a libertarian, but you won't stand up for sound money. BTC is a massive improvement over the dollar and it's getting better all the time. It blows my mind that he can talk up AI, and totally discount the advancements made in cryptocurrency.
I was a proponent of decentralized cryptocurrency solutions until I realized that IBM has commercially available quantum computers that can break not only SHA-2, but also SHA-3. It seems that institutions will be the only way to manage money. Hopefully, this can take the form of localized cryptocurrency in the rise of free, private cities (probably under the banner of a larger nation).
Fewer jobs. Ok. People used to work every waking hr. Then 12 hr days at 2 shifts per day. Then 3 shifts at 8hr days. What’s wrong with 4 shifts at 6 hours. Or 6 shifts, 4 hours a day. Might have 2 jobs but still working 8 hrs per day. A big boost for leisure industry. Mighty be a better life.
what marks missing when he talks about AI or that brilliant kid that tracks top sellers on amazon is.. what happens when there is no-one to sell anything too?
The problem is all this stuff happens way way way slower than anybody thinks! You look back in the sixties and seventies they were telling everybody we would be living in Space by now we would be flying cars like The Jetsons look how long it just took Tesla to get this far? Unfortunately the things he's talking about are going to be another 40 years
You can invest in whats there, or go for the overhyped. Bitcoin will go up a little again, but so will real stuff like digital advertising. Also you have to differentiate between simple and complex. Today we don't live in space but private Companies have the resources and know-how to build rockets that land themselves. Same with AI, people hear it and dream of general AI along the lines of "I am Robot" but while that shit is faaar off, simple AI is coming and fast, roads will start to automate by 2025 so open your eyes and pay attention, over land transport is the biggest international Industry, imagine it disappearing over night. Now you have to be smart and see the investment potential instead of the millions of unemployed if you wanna survive though, China or countries alike lack skill and resource to automate their transport, but somebody will go to these shitwater countries and bulid cheaper, 24/7 overland transport and make millions where the locals can't.
The point when AI can do it from scratch might be far off but automating big parts so that way less headcount is needed to manage is likely to be happening much sooner.
This is what needs too replace the lost work hours because of AI - Education and a love of learning are a key to having a happy and productive people who have less need for working at menial labor. Consider the Landed Aristocracy in Great Britain who did not need to work or do menial labor, many of them were scientists, artists and took time for other intellectual and humanitarian pursuits. In the USA people need a better education because they are falling behind - particularly in the Ghetto areas of the big cities. As the saying goes, "A mind is a terrible thing to waste" and we are falling behind in this respect. Just like an athlete; the brain grows with exercise and it is often hard work to learn difficult information. Intellect is such a joy to expand, study feels good - like exercise feels good. When people are well educated they tend to be more satisfied and self directed. Also, well educated women tend to have children later and less children as they focus on their children's development more. The soul grows by sacrifice either through hard work or time taken o nurture others. We can grab much fulfillment in life and many people have written about this - how common working people have created great art and inventions or have just lived a fulfilling life in spite of working or not working a laborious jobs, because life happens beyond the hours of work. I have known many people among the middle class who do great things with their lives and are "superior human beings ". Education today: Better school systems is a major issue. The major accomplishment of Western Civilization may just be our inventiveness & to squelch this by tracking students & assigning them roles is wrong on so many levels, not the least being, who are they to judge! Freedom to pursue your life's goals & to strive for greatness & knowledge is what moves cultures & the world forward. Unfortunately the attitude that the unlearned student knows more than the teacher turns the teacher into a babysitter & wastes the students time. Take disruptive students out of the classroom & place them in a program where they can learn to listen, respect & obey their teachers & authority. Focus, discipline & demands made to the student to learn, along with obedience and respect for the teacher in school helps a person learn, otherwise you have chaos produced by the ignorant. Creativity will follow but one must have discipline, too much garbage is produced already by fools who lack discipline. Try to play guitar without discipline & see what you get! Learning how to think will guide you so you can research & learn on your own, because we have access to so much information available now..Then the curious mind will prevail. Many wealthy parents send their children to private schools where discipline and accelerated learning is paramount and we should demand the same for our children also. The well educated mind leads to a curious and satisfied mine more often than not!
I said the same thing about AI. Think about the following. Over 2 million jobs disappeared instantly when manufacturing went to China and of shore in general. I work in the IT field, and it has already started to displace jobs! hundreds of thousands of them. Who is left to work when every job is a AI/Robotic? Complete economic collapse!
More Americans are employed now than at any other time in history, and at the highest wages ever. upload.wikimedia.org/wikipedia/commons/4/41/US_Employed_and_Non-Farm_payroll_levels_-_v1.png I once saw Cuban in a video unsure of whether student loan debt exceeded mortgage debt in the US, so take his predictions with a grain of salt.
Tranel Hawkins wtf do we pay taxes for.. seems to me that the all mighty government should be the one on the forefront to solve this problem. Although I know they are clueless and way too distracted lying and making false promises to their voter base. Guys like Cuban and musk will do what they can out of ethics, but it’s not their responsibility
TheCristo68 i think he knows. but he choose to play in the time if the “big guys”. just like Bufftet, who own silver in the past, but now says gold is a dirty word. it comes a time when you have to sell your soul. cuban sold it really soon.
at 7 I hired Marvel comics 10 cents a comic to dads employees lit fires for 10 cents sold beer bottles every three months about 40 employees to punish me for being an asshole dad would keep the bottle money so I booked the comics up dad would get the bill every two weeks haha
dont think it will wok out as he thinks.... what use there is for increased productivity if people have no jobs or money to buy things..... plus a declining population.... lots of people with no jobs will create chaos....
