"Not meant to be social" — Shark Tank's Mark Cuban addresses the problem of VR

Shark Tank's Mark Cuban recently shared his thoughts on Virtual Reality (VR) technology in an interview with columnist Jules Terpak for her Fishbowl podcast. The interview was released on December 17, 2024, in which the Shark Tank investor discussed his "active" involvement in the VR industry. He also mentioned that he once created a solution for VR that worked on the vestibular problems he had.

However, Mark expressed concerns about its limitations. He noted that VR lacks daily practical applications, making it more of a novelty experience, similar to visiting an amusement park. He added that it has some uses in business training, however, its appeal is limited due to the lack of repetitive applications.

Mark emphasized that VR is inherently not social, which is a major drawback. Jules Terpak echoed this sentiment, pointing out that VR experiences can leave users feeling like they are alone in a virtual world.

"What's missing is there is no daily application for VR. It's like going to an amusement park. You know, 'Hey, I'm in space, hey, I'm on a roller coaster...' But you only go to amusement park once, maybe twice a year, if you're hardcore. There's just no repetitive application for it... It's not social. It’s not meant to be social," said Mark Cuban.

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Shark Tank's Mark Cuban believes new technology tends to "freak people out"

During their conversation, podcast host Jules Terpak mentioned the design limitations of current VR headsets, citing the Meta Ray Bans as an example. Mark Cuban noted that while these early designs may seem exciting, their utility is still restricted.

The Shark Tank judge emphasized that the key to any technology's success lies in its ability to provide the path of least resistance to complete a task. He illustrated this point by referencing the development of facial recognition software and its potential integration with Augmented Reality (AR) glasses.

"But it's, it's an application that at some point it always starts off, always freaks people out, and then it gets normalized," stated Mark.

The conversation turned to the potential applications of AR technology, including its ability to recognize individuals and retrieve information about them. Mark acknowledged that such technology can be unsettling at first, but it will eventually become normalized.

Mark reiterated that the main issue with VR is that it is not yet the most convenient way to perform everyday tasks. He added that while VR has proved useful in specific contexts, such as medical and business applications, it still falls short in providing an intuitive experience for socializing and other daily activities.

While Jules continued her conversation with the Shark Tank judge on varied topics, she expressed her uncertainty about the future of hardware. She cited the recent releases of the Apple Vision Pro and Meta Quest. Despite being impressed by these technologies, she questioned their applications in everyday life.

Mark Cuban offered a historical perspective, contrasting the current situation with the advancements in personal computing and mobile devices. He noted that in the past, Intel's frequent improvements in processor speed enabled the development of new applications and features.

"So there was always something new that allowed you to push the envelope, to try something different. Then there were new ways to connect the PCs together, locally, in wide area. And so it was always exciting to go, because I was always going to find something new," Mark stated.

Mark recalled the excitement of discovering technologies at trade shows, where smaller companies and startups would showcase their latest creations. This constant stream of new improvements fueled his enthusiasm for the industry. In contrast, the Shark Tank investor implied that the current pace of innovation in hardware may not be as rapid or transformative.

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Watch Mark Cuban's last season on Shark Tank which is currently being aired on ABC.