Billionaire investor and star of ABC’s “Shark Tank” Mark Cuban thinks the Federal Communications Commission’s plan to regulate the Internet as a public utility will do damage of profane proportions to the industry.
“That will fuck everything up,” Cuban said at the Code/Media conference on Wednesday in California, according to re/code. “Net neutrality is just a demonization of big companies.”
According to Cuban, there’s little evidence to support the claims that Internet service providers like Verizon, AT&T, Comcast, Time Warner Cable or others ever slowed service speeds to content creators like Netflix, Google YouTube, Amazon or others in order to force the companies into paying higher prices for acceptable service.
Such “paid prioritization” along with all-out content blocking would be banned under the new FCC proposal, which will classify ISPs as public utility “common carriers,” and regulate them in the fashion used to break up telephone monopolies at the dawn of the communication age.
Cuban along with Republican regulators, lawmakers and industry lobbyists argue the plan will destroy the market competitiveness that drives innovation and expansion to faster and larger networks, with greater choices for Internet consumers.
“Having [the FCC] overseeing the Internet scares the shit out of me,” Cuban said.