Why Mark Cuban is pouring money into the future of healthcare technology


Over the past few years, the Shark Tank host has invested in technology companies that he says will dramatically change the way we diagnose and treat health problems.

Mark Cuban might be bullish on the business of healthcare these days, but he's not so into the stores that deliver it.

The future of healthcare, according to Cuban, is technology that eliminates the middle man (namely doctors' offices and pharmacies) in the diagnosis and treatment process, the Shark Tank judge told Arianna Huffington onstage at Advertising Week in New York on Wednesday.

Today, when you visit a drugstore, the pharmacist describes side effects and risks attached to your medication. "Over the next 15 to 20 years," Cuban says, "medicinewill be so personalized there will be no drugstores."

Cuban's quotes on business:

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#1: "I still work hard to know my business. I'm continuously looking for ways to improve all my companies, and I'm always selling. Always."

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#2: "When you've got 10,000 people trying to do the same thing, why would you want to be number 10,001?"

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#3: "Because if you're prepared and you know what it takes, it's not a risk. You just have to figure out how to get there. There is always a way to get there."

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#4: "Go out there and get rich. Get so obnoxiously rich that when that tax bill comes, your first thought will be to choke on how big a check you have to write."

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#5: "​In the past, people used to tell me to shut up a bit. But what I believe is to put out your opinion and let everyone else react. If I'm wrong, I'm wrong."

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#6: "I've learned that it doesn't matter how many times you failed. You only have to be right once. I tried to sell powdered milk. I was an idiot lots of times, and I learned from them all."

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#7: "Work like there is someone working 24 hours a day to take it all away from you."

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#8: "Forget about finding your passion. Instead, focus on finding big problems."

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#9: "It's not about money or connections -- it's the willingness to outwork and outlearn everyone when it comes to your business. And if it fails, you learn from what happened and do a better job next time."

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#10: "What I've learned is that if you really want to be successful at something, you'll find that you put the time in. You won't just ask somebody if it's a good idea, you'll go figure out if it's a good idea."

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Instead, Cuban sees a future when technology can diagnose and design tailored treatments by analyzing your sweat or monitoring your heart rate or breathing. That's why over the last few years, Cuban has been accumulating investments in healthcare technology companies. At San Francisco's Launch Festival in February 2014, he said sensors like those in a Fitbit would be the next wave of healthcare tech, freeing users from manually entering data to learn about their health.

Now, he's investing in companies that make hardware attachments that turn smartphones into multi-purpose physicians. Among others, he's invested in the cervical cancer screening toolMobileODT and Biomeme, which claims to do genetic testing for certain types of diseases within an hour.

Traditional pharmacies and sharing economy companies alike are on board with this vision to either automate diagnoses and treatment processes or eliminate the physical task of visiting a doctor or pharmacist altogether. CVS has been experimenting with telemedicine, which allows patients to video chat with a doctor to discuss symptoms and treatment, Norman de Greve, chief marketing officer at CVS Health said at a panel on the future of branding in New York on Tuesday.

On the same panel was Kira Scherer, the chief marketing officer at car-hailing app Lyft. She discussed the potential of the company's concierge service, which allows users to arrange pickup and dropoff for a non-emergency medical appointments.

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Mark Cuban

Mark Cuban may have ditched his wild 'do, but otherwise, he hasn't aged a day since he took his senior portrait in 1976!

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Barbara Corcoran

"Shark Tank" star and real estate magnate Barbara Corcoran was a cheerleader in her heyday -- and she hasn't lost any of pep since 1969.

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Barbara Corcoran

We weren't kidding!

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Barbara Corcoran
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Warren Buffett

The business magnate was quite the dapper young man in 1947.

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Steve Wozniak

These days, the Apple co-founder opts for more casual looks than his tux in his 1968 senior portrait.

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Steve Jobs

Wozniak's business partner, Steve Jobs, rocked the man-bob in 1972.

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Ralph Lauren

Ralph Lauren had the same penchant for plaid suits in 1957!

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Paul Allen

Microsoft co-founder Paul Allen looked totally current with his Warby Parker-esque frames in 1969.

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Bill Gates

Plaid shirt? Check. V-neck sweater? Double-check. Bill Gates' style sure hasn't changed since the 8th grade in 1969.

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Paul Allen and Bill Gates

Adorable! Allen and Gates have taken their friendship from the computer lab to the basketball court.

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Oprah Winfrey

Before Oprah was one of the biggest TV personalities and businesswomen in the world, she was voted "Most Popular" in her 1971 high school yearbook.

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Oprah Winfrey

Love those peace sign earrings!

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Michael Bloomberg

No doubt 1960 Debate Club helped prepare Michael Bloomberg for a future in business and politics!

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Michael Bloomberg

Just take a look at those determined eyes ...

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Marissa Mayer

These days, Yahoo CEO Marissa Mayer speaks sans notecards. Here she is at her 1993 homecoming dance.

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Marissa Mayer

The only thing that's changed since this 1993 debate is Mayer's hair -- the CEO went from a wavy brunette to a straight blonde bob!

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Donald Trump

Trump's soccer days are behind him -- but his competitive spirit lives on.

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Donald Trump

He even had a bit of the same combover in 1964!

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Marcus Lemonis

"The Profit" star Marcus Lemonis, chairman and CEO of Camping World and Good Sam Enterprises, rocked a 'fro in 1988.

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Abi Heller

We wonder what Classmates.com and Intelius CEO Abi Heller's former schoolmates think of his biz!

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