Mark Cuban went on with Yahoo Finance and praised President Trump’s new infrastructure plan this week. Cuban who’s praised Trump lately may be eyeing a 2024 presidential run.
Mark Cuban says President Trump is right on the need for infrastructure spending. But the billionaire entrepreneur argues it needs to be “infrastructure 4.0,” which would be “looking towards the future rather than trying to recreate the past” as the pace of technology accelerates.
On Tuesday, Trump called for a $2 trillion infrastructure bill to boost the economy reeling from the COVID-19 pandemic.
“With interest rates for the United States being at ZERO, this is the time to do our decades long awaited Infrastructure Bill. It should be VERY Big & Bold, Two Trillion Dollars, and be focused solely on jobs and rebuilding the once great infrastructure of our Country! Phase 4,” President Trump.
“He’s right,” Cuban told Yahoo Finance in an interview on Tuesday. “But, the question is: How do we do it and what do we do? I don’t think we can just do it the old school way of just rebuilding roads and bridges. We need to look and say, ‘Can we do a complete reset? What do we need to do going forward?’”
Cuban argued that “you can’t just bring over manufacturing and expect it to be competitive.” However, the first step would be investing in robotics as an example.
“We are not the leader in robotics in the world. So, when we talk about infrastructure, we can talk about building the new factories that incorporate robotics and building software. So then, we can start bringing over those jobs from China and manufacture the critical PPE and other products that we need to have manufactured here. That’s part 1.”
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