US Economy

Mark Cuban says Trump is 'unaware of how technology works'

Cuban: Trump unaware of how technology works
Cuban: Trump unaware of how technology works

President Donald Trump should be more aware of tech advancements in machine learning and artificial intelligence, business mogul Mark Cuban told CNBC on Friday, and how that will impact America's future.

Trump doesn't understand technology, the Dallas Mavericks owner said on "Halftime Report."

"I'm willing to bet that these companies building new plants ... this will lead to fewer people being employed," Cuban said.

Earlier Friday, Cuban criticized the president, tweeting that he "only consumes analog media."

@mcuban: 5) Trump issues p2: No management skills, doesn't read, doesn't use tech and makes no effort to learn , only consumes analog media ,

While Trump's intentions in creating jobs may be good, Cuban argued that new plants will likely have less employees because companies benefit from "more productivity from fewer people."

Despite Trump's confidence that he can lower the unemployment rate, "people aren't going to have jobs," Cuban said.

"How does [Trump] deal with displaced workers?" Cuban asked.

Cuban, who owns shares of Amazon and Netflix, used these companies as examples of how technology is disrupting job growth.

"Amazon is the greatest start-up in the world," Cuban said, by using technology to "be smart" and "disrupt retail." Sooner rather than later other people are going to have to realize how AI and machine learning are impacting American society.

When it comes to the bull market movement as of late, Cuban had this to say: "I thought uncertainty was bad [for Wall Street], too. But the market doesn't care if Mike Pence is named president."

Disclosure: CNBC owns the exclusive off-network cable rights to "Shark Tank," which features Mark Cuban as a judge.