Mark Cuban Wished to Spend money on TikTok Years Before now When It Was Musical.ly

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

Mark Cuban tried to position money into TikTok’s precursor years so far, however 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 favored utilizing TikTok when it was often called Musical.ly.

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

“I beloved it due to I might merely flip it on and there might very properly be 15,000 individuals 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 pleasing.”

Cuban urged CNBC he tried to position money into Musical.ly however was unsuccessful due to the corporate wasn’t on the lookout for to boost extra funds on the time.

Cuban urged Terpak he thinks TikTok is manner a lot much less pleasing 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 in the end, they wished to start out making an attempt to make some cash.”

“I hottest it higher 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 prospects 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 way in which will you’re employed collectively these followers.”

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

“Ultimately, for people who’re there to generate earnings, it’s advisable resolve how one can generate earnings,” he talked about.

Cuban’s ideas hit on an rising frustration many purchasers have with TikTok, the place they’re flooded with adverts and plenty 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 usually.

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

“You wish to put that in a cash market account incomes 5, possibly extra, % and watch that sucker develop,” he talked about. “That’ll make you feel an entire lot higher than that extra latte that you just simply merely had that day.”

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

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

In accordance with Bloomberg, Cuban has a web-based price of spherical $8 billion. In 1990, he supplied his first tech company, MicroSolutions, for $6 million and went on to position money into fairly just a few worthwhile companies by way of “Shark Tank.”

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