Mark Cuban has always been tech’s most pragmatic and outspoken billionaire. As an early internet entrepreneur, a prolific investor on Shark Tank, and the owner of the Dallas Mavericks, he’s seen multiple hype cycles come and go. He was an early advocate for crypto’s potential but has remained a sharp critic of its excesses.

Now, as the twin forces of artificial intelligence and cryptocurrency dominate the conversation, we asked Cuban to weigh in. In this exclusive Q&A, he explains why he thinks AI is on the verge of changing everything, why crypto is still waiting for its big moment, and what the future of work looks like in a world where technology gives “superpowers” to anyone willing to learn.

This conversation has been lightly formatted for clarity. All quotes appear exactly as Cuban gave them.

The Big Picture: AI vs. Crypto

Gizmodo: You’ve invested in both AI and crypto. Which one do you think will have the deeper impact on society, and which one will deliver more value to regular people?

Mark Cuban: AI. It’s not even close.

On AI: The Real Revolution

Gizmodo: On AI, how do you see the traditional office changing in the next five years, with AI now able to handle scheduling, admin, copywriting, even management tasks?

Mark Cuban: More than anything we have ever seen in technology. I think AI will give superpowers to not just companies, but any employee willing to learn how to put it to use. It can take your newest employee and, with some curiosity and effort, make them as accomplished as long-term employees that won’t use AI.

Gizmodo: What kinds of jobs or roles do you think will disappear completely in the next wave of AI adoption, and what will replace them?

Mark Cuban: If your job has binary tasks, you will no longer do those tasks. AI will. But if you can be creative and find new ways to use AI to improve the productivity and profitability of your job and company, you will always be able to get hired.

[Editor’s note: Binary tasks include things like filling out forms, processing documents, basic customer service, or data entry jobs that follow clear if-then logic.]

On Crypto: Still Waiting for a Use Case

Gizmodo: Do you think crypto, particularly bitcoin and stablecoins, is having its “iPhone moment”? If not, what’s still missing?

Mark Cuban: No. Not even close. The iPhone App Store drove everyone to use apps for everything and anything they could. Your grandparents asked about how to download Facebook and Instagram to share pictures. Have you had your grandparents ask for help downloading a wallet?

[Ed. note: A crypto “wallet” is a software program or physical device that allows users to store and manage their cryptocurrencies. Unlike mainstream apps, they have not yet been widely adopted by the general public.]

Gizmodo: You’ve talked in the past about utility being more important than hype in crypto. What’s the most promising use case you’re seeing now?

Mark Cuban: Honestly, I had hoped that smart contracts on Ethereum, Polygon, and other platforms would lead to applications that would be mainstream by now. It’s not even close. [Ed. note: Smart contracts are bits of code that automatically execute transactions. They power decentralized finance, NFTs, and more.]

There are some like Book.IO for books and textbooks, dClimate for climate data, and other apps that I’m still involved in. There can be apps that store video and photos on a chain as a way to combat AI deep fakes and other fraud. I think that could be impactful.

But generally, crypto hasn’t had its Instagram moment yet.

Gizmodo: Is the U.S. government getting ahead or falling behind in shaping crypto as financial infrastructure?

Mark Cuban: I think we are behind. It’s not as much about a digital financial infrastructure, it’s more about allowing types of transactions that cause non-crypto users to question the stability and legality of crypto.

Meme coins are one example. There is no utility. It’s a collectible where every transaction siphons off fees and is presented as gambling, or a game of musical chairs, that has no rules.

Another is when crypto is lent out. Unlike when stocks are being lent out, there is no law that I’m aware of that requires collateral to be put in place. This is why FTX didn’t collapse in Japan. They have collateral and cold storage laws. If we had the same in this country, crypto would be far more trustworthy. Both cause observers who may be considering using crypto to question its viability.

[Ed. note: Following the collapse of the crypto exchange FTX in 2022, its Japanese subsidiary was able to make customers whole because Japanese law required customer assets to be held in separate, fully collateralized accounts.]

On Crypto: The Current Reality

Gizmodo: Are we in a crypto bubble right now, or is this just what widespread adoption looks like?

Mark Cuban: I think BTC has taken all the thunder. It’s a store of value, and we don’t expect it to create utility. Every other chain basically does the same as the rest in one form or another, with some differentiation in features, functions, and speed. They just battle it out to lock up as much usage as possible. But the reality is there are far too many chains.

Gizmodo: How do you view the rise of bitcoin treasury companies like MicroStrategy? Are they early visionaries or overly exposed?

Mark Cuban: It’s fine as long as you have a long-term horizon. Most companies can’t afford to set aside liquid assets for long periods of time. They need the money. But if you can look long term, it’s definitely a strategy worth considering.

[Ed. note: MicroStrategy is a software company turned bitcoin holding vehicle that now owns several billions of dollars worth of bitcoin.]

Gizmodo: Stablecoins are being used for real-world transactions at scale. Do you think they’ll become the core financial rails of the internet economy, or are there limits?

Mark Cuban: I think they are positioned to continue to grow. If you transact globally in dollars, it’s certainly a less expensive and faster option.

[Ed. note: Stablecoins like USDC or USDT are cryptocurrencies pegged to the U.S. dollar. They are used for fast global payments without banks or currency conversions.]

Gizmodo: Are we heading toward a future where corporate treasuries routinely hold bitcoin or stablecoins, the way they hold foreign currencies or bonds today?

Mark Cuban: Yes. Absolutely. You even see JPMorgan using stablecoins. I think it will be a way to transfer money far more effectively. We just need to make sure that we have enough regulation that it’s not easy for fraud and hacks to have an impact.