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ABCsShark Tankhas beenreliably great reality TVever since its recession-defying debut in 2009.
(Robert Herjavec, that blue-eyed delight, wasnt able to attend.)
And, of course, the real reason why Cuban was initially rejected from the Tank.
Nothing is prompted, nothing is scripted.
Lori Greiner: Genuine.
Thats the biggest word.
Kevin OLeary: And it is our real money.
Barbara Corcoran:you could lose more money than you may get paid.
Youre about to hit your 200th episode, butShark Tankdidnt start as an overnight success.
Clay Newbill:The first set was horrific, we couldnt look at it much longer!
We couldnt get Mark Cuban the first season, but we did bring him in later.
Mark Cuban: Thats not true, you rejected me!
Barbara Corcoran:You bastard.
It is very similar toDragons Denand we need an asshole.
I said, Im your man.
Barbara Corcoran:I had a very intense interview that I want to share.
They asked me to send them my financial statement.
I did, and they said, Youre in.
We may also get Mark Cuban on there.
So I went and had a meeting.
Who is going to watch businessmen and women just doing what we do every day?
I tried to buy every company that I wanted.
I remember he called me a unicorn.
He said there is no one else that does everything from soup to nuts like I do.
It wasnt drooling, it was actually fun.
Mark, why were you rejected the first time you auditioned?Mark Cuban:We wont go there.
Clay Newbill:I will say that me and Mark Burnett definitely wanted Mark.
Mark Cuban:Yeah, it wasnt Mark and Clay.
Mark Cuban:What?!
Barbara Corcoran:I remember the first time I walked the red carpet with Mark.
The first season nobody knew us, but the third season Mark is with us.
The minute we stepped on the red carpet it was all, Mark!
Lori Greiner:I have pictures of that.
We were told to dress up, look really fancy and great on the red carpet.
And then there is Mark in jeans and a T-shirt.
It really does accelerate these companies in a way that traditional venture investors never saw.
They never sawShark Tankcoming.
Daymond John:Kevin, youve never not promoted your products when you have a crowd.
Kevin OLeary:Its funny you mention my products, because my Cabernet this year is spectacular.
But the point is, its now accepted that the marriage of the media to business works.
What are your favorite moments in the Tank?Lori Greiner:I lovethe squirrel zapper.
It was supposed to get rid of squirrels and stop them from eating bird seed.
The guy had a little remote control, which he handed to me, Robert, and Kevin.
He says, Now just watch this.
And an electric shock runs through all of us.
Kevin OLeary:When you see the demo of it, the squirrel gets blown off like 30 yards.
Within the squirrel community, they say the squirrels are never the same again.
Mark Cuban:Im pretty sure it works on everything from dogs to coyotes.
Lori Greiner:And of course, Robert ran out.
Mark Cuban:What was that thing called?
Daymond John:Cat Licker.
Its on the top of my list of my highest returns!
People buy potatoes with their faces on them.
Mark Cuban:That tells you all you should probably know about the deals Kevin does.
Yun Lingner:We can never guess what the Sharks are going to invest in.
Daymond John:I know where Loris money is invested.
Its in sponge and plastic!
Its the flea market ofShark Tank!
Lori Greiner:They are some of the best-grossing items ever.
The best-selling items ever.
My little pieces of crap, as Kevin would call them.
Mark Cuban:I saw an infomercial in Mexico that featured a knockoff ofLoris Simply Fit Board.
It was a guy doing something like, Hola, me llamo Lori.
Lori Greiner:I dont know how that happened!
We were just talking earlier today about how we see ten different people per taping day.
Sometimes, later well go, What did we see today?
What did we do?
Theres about 30,000 people who apply every year.
Its a really nerve-racking experience.
Im actually more surprised that more people dont bomb.
Mark Cuban:Its terrible when they just flub the whole thing.
Its not this super-polished, perfect thing.
Mark Cuban:Its authentic.
Kevin OLeary:Its a big difference between rehearsals and when you actually get on that carpet.
All the cameras are rolling, the lights are on you, and you got the real investors there.
He tried it out 20 times before it happened.
Kevin OLeary:You have to see it.
It takes an average of five kicks just to bust down a door.
The job of his partner was to bust down the door.
Lets just say when we got to 20 [kicks], he stopped.
Lori Greiner:He even took a sledgehammer to the door.
Mark Cuban:It was one of the best pitches weve ever seen.
Kevin OLeary:It was thefunniestpitch Ive ever seen.
Barbara Corcoran:It was so sad that we couldnt help but laugh.
If youre still rambling five minutes later, its not gonna work.
Look at all the pitches that get funded by me.
Lori Greiner:Well, what was more important the product or the person?
Kevin OLeary:Im always about the product.
Not everybody feels that way.
Thats how I feel the real world works.
How many people keep their jobs more than 24 months anymore?
Youve got to perform or youre gone.
Dont cry me a river.
Thats just the way it works.
Mark Cuban:But an entrepreneur could have a skill that we can use beyond the business.
But the guy was really good at internet marketing.
Kevin OLeary:Mark, thats a anomaly.
Most people who script their pitch at the beginning never work out.
Daymond John:But its all the entrepreneur.
Its the entrepreneur that takes an idea called the Snuggie all the way to your home.
Anybody I had hesitation in my gut and I still went for it, I lost money.
Barbara Corcoran:Since I cant do any math, he does it for me.
Mark Cuban:Im her calculator.
Lori Greiner:For me, its both.
I have to like what theyre pitching, the idea, and the product.
And I have to like them.
Theres no money or no investment worth the trouble of working with a bad person.
If theyre not, its not worth it to me.
Daymond John:So you dont go into business with Kevin, then.
What do you do when entrepreneurs arent presenting themselves in good faith?
What sets off your bullshit detector?Kevin OLeary:We call them gold diggers.
We can smell it in the first couple of minutes.
You watch on television the trials and tribulations of that entrepreneur running their business and living their lives.
Thats how you build a brand likeWicked Good Cupcakes.
Daymond John:What annoys me is that those gold diggers take opportunities away from genuine entrepreneurs.
Everybody who watchesShark Tankknows youre going to have to negotiate.
Less than one percent of the time, you get what you ask for.
Lori Greiner:Its not fair to the Shark, either.
Its not fair all the way around.
It takes away opportunity from people who deserve it.
You learn to spot someone like that.
Mark Cuban:A lot of times, you see someone come along with two advanced degrees.
They went to Harvard and Stanford.
They have a doctorate and their Ph.D. and their M.B.A. and their J.l.
all in two years!
They think they can outsmart all of us!
Barbara Corcoran:They always know the numbers inside and out.
That doesnt count for much.
And thats where a lot of those deals really go south.
If someone comes on and tries to take advantage of the show, that gets me mad.
Let me give you an example: Plated.
Arrogant as hell, crazy evaluation.
Theyre worth$300 millionnow.
Or another one: Those girls from Harvard with their ridiculous ask for Coffee Meets Bagel.
Mark Cuban:It was a dating site, Coffee Meets Bagel.
Lori Greiner:No, they go …Kevin OLeary?
[Imitates phone hang-up noise.]
Kevin OLeary:That sounds sexist to me.
Lori Greiner:Yeah, thats what I was going to say.
I really believe in gender equality, so I think thats almost goingtoofar.
I really feel that everything in life should be 50-50 male and female.
Women should have as much opportunity as men.
We should be represented the same.
Barbara Corcoran:I feel the same way.
Yun Lingner:This season, we do have three guest sharks that are female.
Lori Greiner:Its not because you crack the whip on them?
The women were setting lower goals for themselves and achieving them more often.
So, theres something there.
You know the old adage,You want something done, give it to a busy mother?
Maybe theres truth in that.
They dont make a lot of egotistical decisions.
They analyze it more instead of putting in ego.
Mark Cuban:From my perspective, its not just about gender.
Its also ethnicity, where youre from, perspective and life experiences, confidence.
Its also being able to leverage that diversity of perspective.
Barbara Corcoran:Thats enormously helpful, because sometimes being an entrepreneur can be a lonely business.
We all know and love Kevins Mr. Kevin OLeary:Barbaras called Bozo.
Mark Cuban:We all know where our flaws are.
Everybody thinks that I talk too long.
Kevin OLeary:Its true.
Mark Cuban:But not as bad as Lori!
Lori Greiner:Im trying to encourage and help them!
Daymond John:I sit next to Lori.
Im spending half my time going, Will you shut the fuck up?!
Thats a really good sign.
Clay Newbill:Also, these people really are sharks when it comes to eating.
Lori Greiner:Mark is very trim, very fit.
He watches his body, right?
The other day, a few platters of fried food came in.
Were all taking a few bites and I look over at Mark and its just … totally gone.
They handed out a big sample platter, which could feed a family of four.
One or two pitches later, Marks like, Uh, everyone, my stomach is hurting.
Barbara Corcoran:How many burps did you do the other day on the set, Mark?
Mark Cuban:Oh God.
Barbara Corcoran:Fourteen burps.
Clay Newbill:Over 100,000 jobs.
What else could we ask for?
Daymond John:I grew up 30 miles away from here.
Thats what I want out of the show.
We found the market, the market found us, and boom.
I dont think it ever stops.
Yun Lingner:Everybody has an Oh, I have an idea for a business moment.
Then you Google it and realize, Ah, nobody else has done this yet!
But then you dont know what to do.
Our legacy is going to be, when you watch enoughShark Tank, youll know what to do.
If thats our legacy, Id be very, very happy.
This interview has been edited and condensed.
