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 typically harms the person expertise.

Mark Cuban tried to position money into TikTok’s precursor years before now, nonetheless talked in regards to the firm turned him down.

Cuban prompt content material materials supplies creator and journalist Jules Terpak in an interview on her YouTube channel that he preferred utilizing TikTok when it was often called 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 am going to merely flip it on and there is perhaps 15,000 individuals maintain instantly that I am going to 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 pleasurable.”

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

Cuban prompt Terpak he thinks TikTok is way a lot much less pleasurable 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 start out trying to make some cash.”

“I hottest it bigger 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 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.

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

Cuban’s ideas hit on an rising frustration many patrons 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 typically.

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

“You need to put that in a cash market account incomes 5, perhaps additional, % and watch that sucker develop,” he talked about. “That’ll make you are feeling a whole lot bigger 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 take care of the critics, solely posting one totally different tip of the day to “be good” and “smile.”

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

In October, Cuban launched he is perhaps leaving “Shark Tank” after its sixteenth season to spend additional time collectively alongside along with his youngsters.