'Shark Tank' Judge Mark Cuban Believes Coronavirus 'Going To Be Brutal' On Economy

"Shark Tank" judge Mark Cuban is realistic about the effects of the coronavirus pandemic and said that this is "going to be brutal" on the economy.

In an interview with Fox Business, the Dallas Mavericks owner said that there is no need to sugarcoat expectations. He believes that business owners and investors will recoup their losses in two or three years, but there will be a lot of challenges and pain before things become business as usual.

"It’s going to be brutal," Cuban said. "When we get to the other side, companies are going to be operating differently,” he added. “Companies are going to have to be agile...companies are going to have to build from the bottom up,” he said.

Cuban is one of President Donald Trump's advisers in the Economic Advisory Council. He has criticized the president in the past, but he believes that Trump is open to ideas.

On Tuesday, the Senate passed a $500 billion aid package for small businesses that will also likely be passed in the House on Thursday, per Reuters. Cuban said that small businesses would need at least another installment of funds in order to stay afloat in this crisis, aside from loans from the government.

While Cuban is anxious for the United States to reopen its economy, the billionaire thinks it might be too soon for some states, such as Texas.

"The reality is the state and the federal government needs to put together protocols that define what’s necessary to protect not only the customers coming in, but the employees as well," Cuban said. "The fact that there are no state and federal guidelines means it’s all up in the air and you just have to trust these companies."

Texas Gov. Greg Abbott announced that retail stores could resume operations on Friday (April 24), and state parks have been open to the public since Monday (April 20). The state has over 20,000 coronavirus cases, but Abbott said that businesses have to reopen because "Texans love to work."