Mark Cuban Wished to Spend money on TikTok Years Thus far When It Was Musical.ly

• Mark Cuban tried to position money into Musical.ly, the platform which can develop to be TikTok.
• Cuban says the platform misplaced its spark, turning into “agency.”
• In an interview, Cuban talked about specializing in monetization typically harms the person expertise.

Mark Cuban tried to position money into TikTok’s precursor years beforehand, nonetheless talked concerning the firm turned him down.

Cuban urged content material materials supplies creator and journalist Jules Terpak in an interview on her YouTube channel that he beloved utilizing TikTok when it was generally known as Musical.ly.

The platform rebranded to TikTok in 2017 when it was acquired by its present owners, ByteDance.

“I beloved it on account of I might merely flip it on and there might very effectively be 15,000 folks hold instantly that I might talk to,” Cuban talked about of Musical.ly.

“It was insane. I beloved it. After which, because of it bought into the dances and every little issue, it was pleasurable.”

Cuban urged CNBC he tried to position money into Musical.ly nonetheless was unsuccessful on account of the corporate wasn’t trying to find to lift extra funds on the time.

Cuban urged Terpak he thinks TikTok is much a lot much less pleasurable than it was and “extra agency.”

He talked about that the dance-focused model of the app was dropping billions of {{{dollars}}}, “and so in some unspecified time eventually, they needed to begin trying to make some cash.”

“I hottest it better when it was dances and music,” Cuban talked about. “Now it is a enterprise.”

Cuban talked about TikTok’s early magnificence was that its algorithm served shoppers with extra of what they hottest than one other platform.

“Now it is agency,” he talked about. “It is what number of followers are you able to get and the best way will you’re employed collectively these followers.”

There’s “a diminishing return” for patrons when platforms monetize, Cuban talked about, pushed by enterprise realities.

“Finally, for people who’re there to generate revenue, you wish to resolve how one can generate revenue,” he talked about.

Cuban’s ideas hit on an rising frustration many purchasers have with TikTok, the place they’re flooded with adverts and loads of see the platform as a pseudo-shopping channel.

Cuban has a TikTok account himself, the place he has 1.1 million followers — although he would not submit typically.

In 2023, he confronted some backlash for a “tip of the day” on incomes money, all through which he urged folks to chop as soon as extra on extra lattes and streaming suppliers.

“You wish to put that in a cash market account incomes 5, perhaps extra, % and watch that sucker develop,” he talked about. “That’ll make you’re feeling a whole lot better than that extra latte that you just merely had that day.”

Some criticized the recommendation for being unrealistic and out of contact with the overwhelming majority of individuals.

Cuban did not cope with the critics, solely posting one totally different tip of the day to “be good” and “smile.”

Consistent with Bloomberg, Cuban has an web worth of spherical $8 billion. In 1990, he supplied his first tech company, MicroSolutions, for $6 million and went on to position money into various worthwhile companies by “Shark Tank.”

In October, Cuban launched he might very effectively be leaving “Shark Tank” after its sixteenth season to spend extra time collectively alongside together with his youngsters.