For billionaire investor Mark Cuban, ABC’s “best deals” on ABC’s “Shark Tank” happen when entrepreneurs introduce a unique product he doesn’t think about creating on his own. .
“There are some 12-year-olds out there that come up with the idea of doing things in ways we never imagined,” Cuban said during a Q&A session at the George W. Bush Center on October 21.
When “that 12 year old boy came up with an idea, on ̵6;Shark Tank’ or anywhere” and said, “I thought to myself:” Why can’t I come up with that? “”, He say. “Those are always the best deals.”
The Sharks often invest in creative presentations from the young entrepreneurs on the show.
For example, Cuban invested $ 100,000 in Simple Sugars, a skin care company founded by Lani Lazzari, during the show’s fourth season. He was impressed with her product, and together they built Simple Sugars into a multi-million dollar company.
He called Lazzari “the most popular businessman” in 2017.
“When I invested, she was 19 years old. When she was 11, she had eczema and wanted to find a natural-derived scrub to cure eczema,” Cuban said at a questionnaire. answer from Oxford Union in 2017. “Lani is my favorite businessman. Because she’s too oriented and she wants to keep the advantage.”
Despite not investing, Cuban was also extremely impressed with young businessman Sofi Overton, then 13, who introduced her socks company in season 11, and Ehan Kamat, then 17, who greeted row of rollers to get rid of foot pain in season nine, as he thinks both of their products are innovative.
Cuban was able to contact these young entrepreneurs, because he started selling products as a child.
“I sold my garbage bag when I was 12 years old because my dad told me the only way I could get my new basketball shoes was if I got a job,” he said in a 2019 episode of GQ’s “Actually Me.”
During their teenage years, Cubans resold baseball cards, stamps and coins. He also used to make box boys and carpets, among other “random jobs,” he said in 2019. In college, Cuban said he held disco parties and taught dance to cover tuition fees.
So Cuba was sold “when I saw a businessman come and present, [and] I thought to myself, ‘Why don’t I think about that?’ “
Disclosure: CNBC owns the exclusive rights to out-of-network cable TV for “Shark Tank”.
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