Mark Cuban Bashes Obama’s Internet Regulation Plans17 Nov, 2014 By: John Latchem
While President Obama might be keen on using net neutrality initiatives to regulate the Internet, billionaire Mark Cuban isn’t so thrilled with the plan.
Obama stated recently he believes the Internet should be re-classified as a utility that can be regulated by the FCC for the benefit of consumers and companies that rely on it, preventing Internet service producers from favoring access to certain sites.
Cuban, an Internet mogul and co-owner of Magnolia Pictures, told BusinessInsider.com that he wasn’t as concerned about small companies being stifled by Internet providers. “I’m more concerned the government will f--- it up,” Cuban said.
He said startups frequently supplant older companies already in an unregulated Internet environment that allows providers to prioritize certain traffic streams.
"Since when have incumbent companies been the mainstays for multiple generations?" He asked. "There will be so much competition from all the enhancements to wireless that incumbent ISPs will have to spent their time fighting cord cutting.”
In addition, Cuban took to Twitter to say the future of Internet-based innovation is high-speed apps that can “change healthcare, medicine, transportation, safety and more, and that innovators need to be able to access high-speed lanes that would be threatened by net neutrality.
“We can’t hold it back because we want to make sure we can watch TV shows,” Cuban tweeted.