Entrepreneur Mark Cuban may owe a portion of his success to the media sector thanks to his founding of Broadcast.com and early days of advancing the streaming market.
These days, the media sector is one Cuban avoids when investing in companies.
The Worst Industry
Cuban is mostly staying away from investments in the media sector, he said in a recent interview with Semafor.
"It's the worst industry in the history of industries," Cuban said.
Cuban said artificial intelligence has made it easier for creators to launch media companies without relying on third-party companies.
"Media has changed forever."
Cuban said there is no limit if you're creative, as creators are less limited on time, funding, or access to professionals now than they were before.
The entrepreneur said media is faster, better and cheaper today.
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Cuban's Media Start
During the interview, Cuban recalled his early days in the media sector with the creation of Audionet, which would later become Broadcast.com.
Cuban remembered recording radio station feeds in Texas. During the interview, Cuban showed off the first two VCR tapes he used to record hours of radio content, which he now has framed.
Streaming back in 1995 was extremely complicated, Cuban recalled, saying that you had to have a computer, a specific modem, subscription to internet service providers and download streaming client software.
Over time, Cuban turned the efforts into a success with streaming radio stations, police scanners and Chicago Cubs games. This was also happening before there were digital copyright laws, Cuban added.
Streaming a Victoria's Secret fashion show and sharing transcripts of the Monica Lewinsky, Bill Clinton tapes were big moments that led to huge traffic spikes for Cuban's company, he said.
Cuban later sold Broadcast.com to Yahoo for $5.7 billion.
What Took So Long?
Cuban was confident in streaming years before others even knew what streaming was.
"Everyone would call me a f***ing moron," Cuban said.
The entrepreneur recalled saying streaming would replace television as things got cheaper and faster. Cuban said getting into cars and on phones was the moment he knew streaming had hit full scale.
Cuban is shocked at how long it took though.
"I thought by 2005, 2010 it would all be ubiquitous like it is now."
Cuban said people using Netflix don't even know that they're streaming today.
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