Dallas Mavericks owner Mark Cuban expressed his opinion about the hype regarding artificial intelligence, addressing skepticism about the existence of an AI bubble in the current market.
What Happened: Cuban addressed concerns surrounding a potential AI bubble on the Lex Fridman Podcast. He recalled the dot-com era "frothiness" in the technology industry to explain whether the current hype is a sign of an AI bubble or not.
"There were people creating companies with just a website and going public. That's a bubble where there's no intrinsic value at all," Fridman said, recalling his sale of Broadcast.com to Yahoo
To recall, Yahoo acquired Broadcast.com from Cuban and his partner, Todd Wagner, for a staggering $5.7 billion. This is Yahoo's biggest acquisition to date.
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Cuban received 14.6 million Yahoo shares, worth $1.4 billion, skyrocketing into the billionaire club overnight. But that is not even the whole story.
Cuban knows a thing or two about stock market bubbles – he saved his $1.4 billion wealth after selling Broadcast.com to Yahoo by entering into "collar" options trade with investment bank Goldman Sachs ...