Mark Cuban: Love/Hate Relationship with Trump, Why He's Backing Kamala Harris

And by working, by requiring transparency in all contracts, signed by anybody anywhere in terms of pricing, you are going to see the same impact on across-the-board pricing of a decrease of 30-40 percent. And so all that is going to reduce out-of-pocket spending for everybody, reduce government spending for everybody, and have a net positive impact.

I don't think they've peaked yet because it for the reasons I just mentioned, if we're able to build a Venetian type casino, and Dallas with an American Airlines Center in the middle of it, the valuation is $20 billion.

So I think that in order to train a model, you need access to information. And the Internet ain't what it used to be in terms of being a source of information. And so IP is becoming more valuable. You're not, I think everybody by this time expected all the foundational models to have all this healthcare information. But if I'm Mayo Clinic, I'm not giving Microsoft or Google or OpenAI my IP, because that's what brands me. And so there's going to be a lot of money available there.

I don't think you can underestimate how companies like Google, Microsoft, Facebook, Apple, Amazon will react when they feel cornered. And I think in the last 20 or 25 years, what you've seen is those companies, when their backs are against the wall, they use money, their sharp elbowed, but the consistent thing is they've won.

There's a new story this week where OpenAI just raised, was it $6 billion at $150 billion valuation? They originally started that enterprise with $50 million or so from Elon. It was a non-profit. Then they became a for-profit. Now, there's a report saying that they're telling investors in this round that they can't invest in any other AI companies, so they're acting like, I mean, they've gone from non-profit philanthropy to piranha for-profit company.

I've literally talked to Kamala Harris at lunch about this specific topic of regulation through litigation. As a lawyer, she got it immediately and she knows it's a problem. She's even mentioned in one of her speeches that that's something that they're going to deal with.

if you just look at the competition set that they're up against, they're losing 5 billion a year, they're making three and a half, they put this thing at 150 billion, it's 40 times, 50 times revenue. To fill in that valuation on a price to sales basis, it's kind of crazy.

they realize that there's only a couple of ways to reduce the deficit. One, you get inflation under control and that reduces interest rates, and that's going to work in our favor, and I think that's happening now. If it's $1.6 trillion, then if interest rates go below 4 percent, that saves a lot of money and probably the most you can save.

Now, she's either even or ahead or a little bit behind in every single poll. Why do I bring it up? because it means what she's doing is working.

There's nothing that says that open AI is going to win. Nothing at all. And so I don't feel bad about what they're doing.

And I said, the most important thing from a technological perspective in this country today, is that we win AI. That is going to find everything militarily for us and economically for us. And that when you try to break up companies like Google and Facebook, you diminish our ability to compete globally with AI.

I have, but I stopped using it just because it terrified me. because it doesn't know what adversarial things it doesn't know. because you know, anything that's adversarial, that has to train on something it's seen, and it's not smart enough to figure out what it hasn't seen and whether or not it's a risk.

I think the problem, and this happens with all new technologies, is we're seeing the gold rush right now where everybody calls everything AI, particularly with agents. And I think you can put all these vertical agents together to do all these different things, but agents are just going to be a feature, not a product.

On the first day of the new fiscal year, federal debt jumped by $204 billion in one day. Federal debt now stands at $35.7 trillion. And the biggest challenge we have in the year ahead is that $10 trillion of the outstanding debt comes up for refinance. It's going to refinance at around 4%. So we're going to be adding another $300 billion in new interest expense next fiscal year, plus the Biden administration has proposed a $7.2 trillion budget for next year, which will inevitably lead to another $2 trillion of deficit spending, which means that by the end of 2025, we could be staring at $40 trillion of federal debt. And if you do the math on that at 4% interest, it's $1.6 trillion a year of interest expense a year just on interest expense on the outstanding debt, which effectively begins to eclipse the entire federal budget very quickly

It was in the last Biden-Harris budget. It was in the Harris platform at the DNC.

The tax rates are completely different than the Biden budget proposals where there's no unrealized capital gains, etc. They went to 28% and 28%. So it's not going to be what was proposed by Biden.