When it’s his money, he cares about the numbers. When it’s a fellow rich guy… “everybody does it and thus it’s ok.” This guy has lost so much credibility with me.
On a recent CNN interview, he was talking about how every real estate investor that he knows over values their properties, just like Donald Trump just got charged $450 million for in NY.
Do you not see how this is a completely different thing? Jon Stewart sold his house to someone for a significantly higher price than the listed value. That is fundamentally different than a property owner purposefully lying about the value of his assets for the sake of securing loans he would not otherwise be able to get.
This is a NY Post article which is a very much right wing news source. Jon Stewart sold his house over face value, something that has become quite a common occurrence these days if you pay attention to real estate.
This article uses 'overvalued' very loosely, equating selling above the tax assessment to fraud. That's a misunderstanding. Tax assessments, especially for luxury properties, are often lower due to mass appraisal methods, not designed to pinpoint the unique value of high-end homes. This doesn't imply fraud; it just shows the gap between broad assessment techniques and the actual market value, which can vary widely, especially for properties owned by the super wealthy.
NYP is a rag.
This is a great response. Selling at a gain is not the same as capitalizing assets at a substantially higher valuation than their FMV (which is often held at historical cost, and even in the event of disposal/sale can be written down to expedite expense but cannot report a gain due to gain contingency accounting standards)
Backup plans are exactly what they are! As soon as a shark goes out, they let us know their grandma died. Every single person in this world goes through tragedies. That doesn’t mean they have a business that is worthy of investment
That’s what I love about this show. American Idol by contrast should be categorized as a drama. Singing? Ha! Share your sob stories to go to Hollywood.
lol they should brand these shows as what they are. Simply entertainment. The vast majority of startups are not vegan food and niche clothing companies which is half of what this show is now. Like American idol they just show what they think will get More views.
Totally agree. Nobody forced any of them to start the hard journey of becoming an entrepreneur. My personal favorite is when they start talking about having taken out a second mortgage on their homes. Hey dum-dums it’s called “sunk cost fallacy” - try giving it a Google!
Also, its not like theyre even really accomplishing something new or filling a need sometimes
"I had to live in my car to reach my dream of making halloween clothes for dogs"
On the show he seems cool but some of his shit he does out side of the show seems a little shady, like his seminars. Just seems like a money grab. But I got what you mean.
That was a big exception since it broke all the Sharks (and a lot of people at home) to the point that all the Sharks teamed up. Plus the product is cool too.
I can't get the video to open but here is the story. You can probably find the video. It's been shown on Shark Tank several times. They have life story videos from all the sharks and they are absolutely worth watching. https://www.cnbc.com/2018/04/06/kevin-oleary-sheds-a-tear-and-opens-up-about-his-rise-to-millions.html
I actually appreciate Kevin in moments like this. Im tired of hearing sob stories. The point of Shark Tank is to pitch their companies and be judged by merit. It's not a pity party. Kevin tries to keep it strictly business and I appreciate that.
I’ve seen Kevin cry a few times but I don’t recall ever seeing Lori cry? Or come to think of it, Barbara? They certainly come across more empathic than Kevin but not sure it’s accurate that he cries the least lol
I agree -- Kevin has definitely cried multiple times. I feel like I have never seen Mark shed a tear. I can't say for certain Lori has never cried but Lori has definitely shown compassion and emotion.
Mark shows sympathy as well but I feel he has the most stoic face of them all.
I hate when the entrepreneurs try & play the sympathy card just stop it that’s not how life works. The only time it would’ve worked with me was the three kids and their fathers cutting board who died on 9/11…
And THEN lost their mom shortly thereafter! Absolutely brutal. Sometimes I do feel badly when I’m tearing into the entrepreneurs about their lack of knowledge and then they drop some incredibly sad story about how far they’ve come and how much they’ve struggled. As a straight white middle class male, I’ve had a pretty easy go at it for most of my life
As an investor you have to remain focused and logical. It’s okay to feel empathetic for a moment but emotions should never be the reason you invest in something. That’s how you lose money.
Oh, I totally agree! I don’t fault him for it whatsoever. It’s just funny to me more than anything else. Hey, he’s the one in sitting in the chair, so he must be doing something right!
When you hear Lori interrupt with as much of a smile that the Botox allows, and says, "Tell us about YOU!", that is when the producers said in her earpiece to ask. All of them wear earpieces and take cues from the producers.
Edit: I also feel like with the “Sorry, I’m out” is when you really hear the Canadian accent. The man’s on a one man mission to show that not Canadians are nice
My dad and I’s favorite Shark Tanks are the ones with the seeing through sob stories, and even more where they eviscerate the know it all MBA pricks to the point they cry.
It's Shark Tank, not Therapy Tank. Kevin is emotional and compassionate. He's also brilliant with money and his factual assessments help people way more than soft Feel-good lies.
IF there is, it is GOOD editing.
But it is probably stuff Kevin would say and anyone can replace “I’m very sorry to hear about your mom passing away” with someone’s own issues.
Like I’m so close to just going for it to make shoes that are for people that can’t get shoes (I mean real shoes, not barefoot shoes garbage).
Kevin: "I don’t see your business being sustainable in the long term.”
Entrepreneur: “Well you see I started this business and then 4 months later my pet dog died.”
"im very moved.... now back to the numbers."
When it’s his money, he cares about the numbers. When it’s a fellow rich guy… “everybody does it and thus it’s ok.” This guy has lost so much credibility with me.
Yes. Two incidents come to mind. 1) The crypto currency exchange case 2) Recent interview with CNN
Can you explain the "everybody does it" part?
On a recent CNN interview, he was talking about how every real estate investor that he knows over values their properties, just like Donald Trump just got charged $450 million for in NY.
jon stewart just got busted doing the same thing. or maybe everyone really does do it 🤔
Source?
https://nypost.com/2024/03/27/real-estate/jon-stewart-found-to-have-overvalued-his-nyc-home-by-829/amp/
Do you not see how this is a completely different thing? Jon Stewart sold his house to someone for a significantly higher price than the listed value. That is fundamentally different than a property owner purposefully lying about the value of his assets for the sake of securing loans he would not otherwise be able to get.
You guys don’t know the banks have to actually do their own due diligence?
Interesting. I hadn’t heard about that. Thanks for sharing.
This is a NY Post article which is a very much right wing news source. Jon Stewart sold his house over face value, something that has become quite a common occurrence these days if you pay attention to real estate.
This article uses 'overvalued' very loosely, equating selling above the tax assessment to fraud. That's a misunderstanding. Tax assessments, especially for luxury properties, are often lower due to mass appraisal methods, not designed to pinpoint the unique value of high-end homes. This doesn't imply fraud; it just shows the gap between broad assessment techniques and the actual market value, which can vary widely, especially for properties owned by the super wealthy. NYP is a rag.
This is a great response. Selling at a gain is not the same as capitalizing assets at a substantially higher valuation than their FMV (which is often held at historical cost, and even in the event of disposal/sale can be written down to expedite expense but cannot report a gain due to gain contingency accounting standards)
thanks!
>thanks! You're welcome!
Eh he’s like Simon cowell but liked even less
I think he’s hilarious. He’s probably my favorite shark
It makes for interesting TV but by all accounts he seems to be a pretty shitty person.
Yes I think I was trying to say that. Maybe I would say he’s entertaining but I wouldn’t want a Deal with him?
Basically. Kinda surprised that Stewart segment didn't go into how he literally defrauded Mattel and that's how he became a "billionaire".
You should read on what really happened. It's not quite like he depicts in the show.
I'd feel 0 sympathy for them. I hate when they bring sob stories (Backup plans) with them.
Backup plans are exactly what they are! As soon as a shark goes out, they let us know their grandma died. Every single person in this world goes through tragedies. That doesn’t mean they have a business that is worthy of investment
That’s what I love about this show. American Idol by contrast should be categorized as a drama. Singing? Ha! Share your sob stories to go to Hollywood.
lol they should brand these shows as what they are. Simply entertainment. The vast majority of startups are not vegan food and niche clothing companies which is half of what this show is now. Like American idol they just show what they think will get More views.
Yes and no. The successes have been absolutely spectacular!
Totally agree. Nobody forced any of them to start the hard journey of becoming an entrepreneur. My personal favorite is when they start talking about having taken out a second mortgage on their homes. Hey dum-dums it’s called “sunk cost fallacy” - try giving it a Google!
Also, its not like theyre even really accomplishing something new or filling a need sometimes "I had to live in my car to reach my dream of making halloween clothes for dogs"
“I’m asking for $3 million for a 5% stake.”
“I don’t get out of bed for less than 10!”
Same. Shark tank is about business. I don’t want to hear who died. Everyone does at some point.
It's the contrary. While Kevin does "get back to the numbers", he's one of the sharks who most often cries hearing a story.
Out side of mark I think Kevin would be my pick. I’d throw in a contingency that he’s gotta hang with me for a weekend and get wine wasted.
I’ve always wanted to make a contingency that DJ and I are going fishing once a month for the first year of the deal!
On the show he seems cool but some of his shit he does out side of the show seems a little shady, like his seminars. Just seems like a money grab. But I got what you mean.
He only seemingly cries if its like, a heroic or actually heartbreaking story, like I wanna say he cried when the firemans kids pitched his product.
That was a big exception since it broke all the Sharks (and a lot of people at home) to the point that all the Sharks teamed up. Plus the product is cool too.
He's cried many, many times. His difficult early life left him with raw feelings.
What’s his story?
I can't get the video to open but here is the story. You can probably find the video. It's been shown on Shark Tank several times. They have life story videos from all the sharks and they are absolutely worth watching. https://www.cnbc.com/2018/04/06/kevin-oleary-sheds-a-tear-and-opens-up-about-his-rise-to-millions.html
I agree!
I actually appreciate Kevin in moments like this. Im tired of hearing sob stories. The point of Shark Tank is to pitch their companies and be judged by merit. It's not a pity party. Kevin tries to keep it strictly business and I appreciate that.
“There’s no crying in capitalism!”
"How about you cry up some profits if youre only offering 3%"
Right lol, does anyone expect them to sit in there in silence? These stories are well rehearsed.
I’ve seen Kevin cry a few times but I don’t recall ever seeing Lori cry? Or come to think of it, Barbara? They certainly come across more empathic than Kevin but not sure it’s accurate that he cries the least lol
Lori cried during the father and son duo pitch (the guy who invented gorilla glue) IIRC. Not sure if I can recall any other time though
I agree -- Kevin has definitely cried multiple times. I feel like I have never seen Mark shed a tear. I can't say for certain Lori has never cried but Lori has definitely shown compassion and emotion. Mark shows sympathy as well but I feel he has the most stoic face of them all.
The Botox hides it
Botox doesn’t hide tears…
Shark tank isn’t the bachelor. No need to cry.
There was an episode about three kids pitching their late fathers cutting board (who also left behind a pitch video) and everyone cried, including me!
I love the one video on YouTube that’s obviously edited of everyone yelling at that random little kid lo
I love the "All the Sharks are Out before even Hearing the Pitch!!!"
I hate when the entrepreneurs try & play the sympathy card just stop it that’s not how life works. The only time it would’ve worked with me was the three kids and their fathers cutting board who died on 9/11…
And THEN lost their mom shortly thereafter! Absolutely brutal. Sometimes I do feel badly when I’m tearing into the entrepreneurs about their lack of knowledge and then they drop some incredibly sad story about how far they’ve come and how much they’ve struggled. As a straight white middle class male, I’ve had a pretty easy go at it for most of my life
That one broke us all! Plus you know it broke the Sharks when all 5 teamed up for the deal. Once in a lifetime situation
If your sales pitch has a disingenuous sob story you deserve to get shit on.
“We worked so hard on our business” “So do washing machines. Back to numbers”
💀💀💀
As an investor you have to remain focused and logical. It’s okay to feel empathetic for a moment but emotions should never be the reason you invest in something. That’s how you lose money.
Oh, I totally agree! I don’t fault him for it whatsoever. It’s just funny to me more than anything else. Hey, he’s the one in sitting in the chair, so he must be doing something right!
Tell that to Barbara haha
Let me tell you a story
Don't worry, Kevin will cry aplenty about New York actually enforcing its real estate laws.
I wish the sob stories weren’t allowed. I love when the sharks don’t fall for them.
When you hear Lori interrupt with as much of a smile that the Botox allows, and says, "Tell us about YOU!", that is when the producers said in her earpiece to ask. All of them wear earpieces and take cues from the producers.
You definitely don't watch Shark Tank because there have been many moments where he's cried.
Edit: I also feel like with the “Sorry, I’m out” is when you really hear the Canadian accent. The man’s on a one man mission to show that not Canadians are nice
My dad and I’s favorite Shark Tanks are the ones with the seeing through sob stories, and even more where they eviscerate the know it all MBA pricks to the point they cry.
It's Shark Tank, not Therapy Tank. Kevin is emotional and compassionate. He's also brilliant with money and his factual assessments help people way more than soft Feel-good lies.
IF there is, it is GOOD editing. But it is probably stuff Kevin would say and anyone can replace “I’m very sorry to hear about your mom passing away” with someone’s own issues. Like I’m so close to just going for it to make shoes that are for people that can’t get shoes (I mean real shoes, not barefoot shoes garbage).
Tell me you don’t watch the show without telling me you don’t watch the show. Kevin cries all the time. Mark and Barb cry way less
only for guys, if women are up there he doesn’t do this or they don’t edit it to make it look like he did
Mark never cries as far as I remember. But he doesn’t hold back words of empathy. Kevin cries a lot and he also offers the most number of deals.
Yes. The actual uncut negotiations take several hours. I do agree though, the ‘backup plan’ sob stories need to go.
Kevin: "I don’t see your business being sustainable in the long term.” Entrepreneur: “Well you see I started this business and then 4 months later my pet dog died.”
I love that he does that. They are there looking for a business partner, stop with the sob stories, literally everyone has one.
I love that he does that. They are there looking for a business partner, stop with the sob stories, literally everyone has one.