Private investors in apps and other ventures that fail are getting "crushed," billionaire investor Mark Cuban said on Thursday.
"Small individual investors are putting their money into apps with no chance of getting their money back," the Dallas Mavericks owner and "Shark Tank" investor told CNBC's "Closing Bell."
Cuban sees a private technology bubble more dangerous than the public bubble that burst 15 years ago. He contends that angel investors and contributors to apps make more perilous plays than stock traders because their bets lack liquidity.
His commentary comes just days after the Nasdaq hit 5,000 for the first time since the tech bubble of 2000. He stressed that he doesn't currently see a bubble in public companies.
"I don't believe there is at all," he said.