Mark Cuban said AI firms should spend billions to help cities hit by job losses as a 'cost of doing business'

Billionaire entrepreneur Mark Cuban has a message for artificial intelligence firms: prioritize investments in communities facing job losses due to AI advancements. In a recent post on X, the former 'Shark Tank' investor emphasized that these companies should allocate substantial funds to support towns and cities impacted by workforce reductions. Cuban pointed out that AI companies are currently struggling to maintain a positive public image and must engage more with affected communities. He argued that billions spent on local programs and initiatives should be considered a part of the cost of doing business in the AI sector. "Being disliked is detrimental to business," he stated, criticizing large AI firms for not prioritizing people’s needs. Highlighting the growing concerns among creatives, Cuban noted that many artists feel threatened by the rise of AI in their fields. He urged AI companies to reach out to artists in major cultural hubs like Los Angeles and New York City to offer both financial backing and collaborative opportunities. "It’s essential to meet with them directly and heed their advice," he advised. Furthermore, he dismissed the strategy of hiring celebrities for endorsements, calling it a misguided move. Cuban stressed the importance of connecting with everyday workers, stating, "If you don’t engage with those who contribute to your operations and are striving to make ends meet, your business will struggle to reach its potential." His comments come amid a surge in job losses linked to AI, with at least 16 companies in the United States, including Snap, Cisco, and Coinbase, announcing layoffs due to AI-related redundancies. The rising tensions surrounding AI have even led to negative reactions at college graduation ceremonies, where speakers discussing AI have faced boos from attendees.