Until now, I haven’t been a fan of billionaire businessperson Mark Cuban. I put him in the same category as many billionaires who seem to prioritize wealth accumulation over everything, including their families. However, my recent observations have made me realize that my perceptions of Mark Cuban were mistaken.

Jon Stewart, who is notably proficient at interviewing, recently hosted Cuban on “The Daily Show.” During this episode, Cuban expressed that he is no longer chasing after monumental successes but is instead aiming to forge stronger connections with his children and grandchildren. This shift in focus is commendable and if more individuals of his financial standing took this path, it could potentially lead to positive impacts not only within their families but also globally.

The conversation between Cuban and Stewart initially touched on politics but soon pivoted to the topic of artificial intelligence. As someone who keeps up with AI developments, I found their insights on the need for a balanced approach to AI development to be spot-on. They discussed the importance of advancing this technology in a responsible manner while ensuring it does not fall into the wrong hands and jeopardize humanity.

Let’s delve deeper into the topic of AI before we conclude with my Product of the Week — a medicine supply company founded by Mark Cuban. This venture is built around the principles of openness and transparency, a philosophy that has become highly influential in tech and severely criticizes the practice of charging exorbitant prices for medications.

Cuban’s initiative, Cost Plus Drugs, offers full transparency and provides medications affordably, with prices that a few might consider a fraction of what is normally charged. They retail a medication usually priced at $30,000 a month for just $64.

Like Stewart and Cuban who are fellow baby boomers, there is a shared concern that many from our generation may not only struggle in leveraging AI effectively but might lack the comprehensive understanding needed to safeguard against its potential risks.

Mark believes that Generation Z, those born between 1997 and 2012, are likely the first to embrace the full potential of AI and are also poised to create effective safeguards for its use. The youngest of this cohort are just entering adolescence, and the oldest members, at 27, are beginning their professional journeys.

While future generations will also possess the capabilities to manage AI technologies, they are currently too young to affect significant impact before the challenges posed by AI potentially become unmanageable. Therefore, it rests on Generation Z to acquire the necessary understanding and skills to ensure AI benefits humanity rather than causing harm.

I wish them all the best because this challenge is far from easy. It’s somewhat saddening to hear that our generation has evolved from “sex, drugs, and rock & roll” to “Fox News,”—a legacy I’m not keen on yet, regrettably, feels somewhat true.

A significant push from some tech leaders aimed to “pause” AI development recently. I view this move as ill-advised. With a technology poised to revolutionize the world and redefine global work environments and weaponry by enhancing their lethality, no force can halt its progression.

Halting AI development within our borders would likely ensure the next conflict we engage in would be fatal, as survival would be improbable. Like nuclear advancements, promises to cease development might surface, yet essential progress would persist clandestinely, effectively ensuring it could never be fully stopped.

Cuban echoed this sentiment, stressing the importance for our nation to not just develop AI but to focus on its responsible utilization and growth— a task he implied the boomer generation is not equipped to manage.

Cuban was also correct in noting that we have no clear idea where generative AI is headed because it’s still so new. With the arrival of artificial general intelligence (AGI), which could be far more powerful and cheaper to develop, this uncertainty is particularly dangerous. That’s why it’s crucial to have some form of monitoring and appropriate safeguards in place.

The good news is that the U.S. dominates this technology for now, which is vital to defense and business. Cuban feels that it is a positive right now, which I agree with, but it can be extremely dangerous.

Stewart pointed out that this technology could damage labor pools, jobs, and even companies.

Cuban reiterated that the right folks to set up these guardrails are those who grew up with this technology and should better understand how to regulate the dangers while not limiting innovation. If this is done incorrectly, we may face a problem we can’t mitigate, or another country may develop one that we can’t counter.

Cuban praised the Chips and Science Act as a significant initial step yet insufficient as a comprehensive solution since it primarily ensures that the U.S. can sustain essential manufacturing capacities in the event of conflict. However, it falls short of addressing the issue of necessary safeguards. He suggested that the present Congress lacks the skills required to perceive the threat with the severity it warrants or to devise a policy that both solves the issue without exacerbating it.

If you have the opportunity to watch the video of Stewart’s discussion with Cuban, be prepared for initial political opinions. The segment discussing AI starts about midway through the interview.

From this accessible commentary, you’ll gain insights into the current standing of AI and the essential progress needed. It offers a balanced view of AI’s potential benefits and risks, advocating for a management approach that curtails innovation only when it poses significant dangers.

The discussion also contemplates the dangers of a hostile foreign power developing and losing control over this technology. A critical point not thoroughly explored by either Stewart or Cuban is the idea of an AI Shield, emphasizing the urgent need to establish such protective measures before an adverse entity, either foreign or domestic, develops something drastically unmanageable by current defenses.

Jon Stewart and Mark Cuban have reinforced my belief that we are far from ready for the upcoming wave of AI technology. Although it may seem mostly beneficial initially, there are insufficient safeguards to ensure it remains beneficial. I wish the outlook was more optimistic.

I don’t know about you, but every time I learn about the global pricing of pharmaceuticals, it infuriates me. Much of the research and development happens in the U.S., where we also face the highest prices for these drugs, despite our taxes often funding the development of these same drugs which become unaffordable.

It’s unreasonable for people to have to choose between buying medication, food, or paying for shelter. The cost of certain medications is astronomically high. Cuban and his team at Cost Plus Drugs have chosen to be transparent with their pricing by disclosing what they paid for the drug, adding only a 15% markup, a nominal expert charge, and detailing any additional costs that contribute to the final price.

Some examples from the Cost Plus Drugs website showcase this transparency:

Be aware that these are generic alternatives for Gleevec, Zytiga, and Canasa. Do you really need to spend thousands extra for a brand? A list of what Cost Plus Drugs provides can be found here.

Excessive profits and high drug costs are killing people who can’t afford them. Cost Plus Drugs can deliver drugs at a fraction of the cost of most pharmacies, even Costco, which is one of the most affordable. Eliminating the waste and providing critical drugs at far more affordable prices would substantially impact the quality of life for those who can’t afford insurance. It would make health insurance less expensive, and for companies that pay for health coverage, it would cut their costs massively with no identifiable downside.

Cost Plus Drugs is forcing other providers to rethink their prices or lose revenue, which has a significant downward effect on overall drug pricing. They are also working on a project to fully “open” all health care pricing so you can, for instance, choose your hospital based on a competitive cost comparison that could save you hundreds of thousands of dollars in overcharged health costs.

Getting medicine costs down to affordable levels is critical to our quality of life. Since Cost Plus Drugs does that, it is my Product of the Week. Mark Cuban just became my new tech hero.

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