- Businessman Mark Cuban says he would take 100 billion of the government's proposed $1 trillion dollars in infrastructure investment and invest it in robotics.
- Cuban believes the U.S. is falling behind China in the robotics industry and that we really need to invest in R&D.
Giving the Government Advice
As the owner of the NBA’s Dallas Mavericks, Landmark Theaters, and Magnolia Pictures, businessman Mark Cuban clearly knows a thing or two about where to invest money. And apparently, he isn’t shy about sharing his tricks with others. In a recent blog post, Cuban made an investment suggestion to the government.
“If it was me spending the money, I would take 100 billion of the proposed $1 trillion dollars in infrastructure investment and invest it in Robotics,” Cuban says. “I would invest it in the companies that do R&D, software, and design for robots and every other facet of the Robotics Industry.”
Cuban thinks the US is getting left behind in terms of robotics research and development. What’s more, he says, “none of the companies that actually make the robotics are based here in the USA. That’s a problem that needs to be solved.”
Winning the Robotics Race
Cuban seems to think that China is the opponent to beat. He notes how China, according to a recent report, is spending more on robotics than the US — about $3 billion a year. “We need to quickly pass them by,” he says. The Mavericks owner also notes how China, the EU, and Korea offer “billions in credits to support their robotics industry. We spend about $100m. That ain’t gonna work.”
According to Cuban, US “infrastructure” spending should look forward, not backward so that we can be the robotics hub of the world.” He believes the US currently doesn’t have the best robotic technology and the infrastructure needed to enable it. Cuban insists:
Why is this so important? Because technological change always accelerates. It never stagnates over time. Which means we are going to face the fact that if nothing in the States changes, we will find ourselves dependent on other countries for almost everything that can and will be manufactured in a quickly approaching future.
“We have to win the robotics race,” Cuban writes. “We are not even close right now.”