Mark Cuban: "Data is the new gold"
Technology companies are constantly innovating. Credit Suisse supports them in a variety of ways, including its unique networking platform, the Credit Suisse Private Internet Company Summit.
Internet companies constantly innovate to cater to the structural shift toward more enriching online experiences. Credit Suisse supports them through offering a unique networking platform – the Credit Suisse Private Internet Company Summit. At the second annual Summit, Credit Suisse brought together technology-focused entrepreneurs, executives and investors to foster a dialogue around the latest ideas and trends in the industry.
The Summit recently took place in Las Vegas. Amongst others, Mark Cuban, entrepreneur, investor, and owner of Dallas Mavericks, shared his thoughts on the current environment for those starting businesses, valuations in the technology sector, and offered advice for younger entrepreneurs.
- The Environment for Entrepreneurs
"For technology entrepreneurs today it's so much easier, so much cheaper, so much faster to start a business […] For the analog world, there are so many licenses and so many ridiculous requirements at the local county, state, and to a lesser extent federal level, that I think that's a real problem."
- Valuation Bubbles
"I think there is a bubble, but it's regional. The valuations for Silicon Valley startups are just ridiculous. The same company in Miami or Cincinnati or Dallas or even Austin is half the price, if not 25 percent of the price."
- Exciting Trends
"Artificial intelligence, however you want to define it, that's everything. There will be more changes in the next five to seven years than we've seen in the last 30. It will impact every business. Data is the new gold. It's the new oil. It's the new plastics."
- Advice for Young Entrepreneurs
"Business is the ultimate sport, where you have to compete 24/7 […] There has to be motivation; there has to be commitment […] I don't think entrepreneurs have a sense of what's happened in the last 25-30 years in technology, and I think that hurts them."