Mark Cuban Wished to Spend money on TikTok Years To this point When It Was Musical.ly

• Mark Cuban tried to put money into Musical.ly, the platform that may 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 actual individual expertise.

Mark Cuban tried to put money into TikTok’s precursor years so far, nonetheless talked in regards to the firm turned him down.

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

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

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

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

Cuban steered CNBC he tried to put money into Musical.ly nonetheless was unsuccessful on account of the corporate wasn’t looking for to lift additional funds on the time.

Cuban steered Terpak he thinks TikTok is manner a lot much less gratifying than it was and “additional 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 wished 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 prospects with additional 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.

“Ultimately, for people who’re there to generate revenue, it is good to determine 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 lots 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 steered 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 additional, % and watch that sucker develop,” he talked about. “That’ll make you feel an entire lot better 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 line with Bloomberg, Cuban has an web worth of spherical $8 billion. In 1990, he offered his first tech company, MicroSolutions, for $6 million and went on to put money into fairly just a few worthwhile corporations by way of “Shark Tank.”

In October, Cuban launched he might probably be leaving “Shark Tank” after its sixteenth season to spend additional time collectively collectively along with his children.