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’s 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 create a naturally sourced exfoliating product to help cure her eczema,” Cuban said at a 2017 Oxford Union Q&A session. “Lani is my favorite businessman because she is too oriented and she wants to keep the advantage.”
Although not investing, Cuban was also extremely impressed with young businessman Sofi Overton, the 13-year-old girl then introduced her socks company in season 11 and Ehan Kamat, then 17, who came to the pitch. roll to get rid of foot pain in season ninth, as he thinks both of their products are innovative.
Cuban is able to contact these young entrepreneurs, because he started selling products as a child.
“I sold trash bags at home 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 used to be a boxer and carpenter too, among other “random jobs,” he said in 2019. College era, Cuban said he hosted disco parties and taught dance. to cover tuition.
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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