Daymond John On ‘Shark Tank’: Who’s Crazy And How He’s A Different Kind Of Investor
If you ask Daymond John who’s crazy on Shark Tank, apparently it’s not Lori Greiner or Robert Herjavec. But every other shark falls into the ‘crazy’ category — and one tops them all.
“Mark is as crazy as he looks. Kevin is crazy. But there’s nobody crazier than Barbara Corcoran. We all agree. She’s like a mad scientist–she’s a genius, but she is right off her rocker.”
John made the statements to Inc. at the International Consumer Electronics Show in Las Vegas.
Even if Corcoran really is “crazy,” that doesn’t stop her from doing major Shark Tank deals. Mark Cuban recently revealed that out of all the sharks, he prefers to do joint deals with Corcoran. She said in an interview that she feels the same way about Cuban.
In addition to calling out Barbara Corcoran for her “mad scientist personality,” John revealed how his investment choices differ from his co-panelists on the show. He prefers to make independent investments with entrepreneurs who have not already received funding. This distinguishes him from some of his Shark Tank colleagues.
“Mark [Cuban] and Kevin [O’Leary] don’t mind being in series B and series C and series D. They don’t mind super high valuations, I guess because they’re tech-based. That’s not my philosophy. I want to make a decision with the owner and I don’t want to hear about these 50 people on the board and that I’m going through this and that series. You raised $7 million? Well, then you didn’t need to come onto the show, because you’re OK. I don’t like the politics.”
John went on to say he is not a fan of the corporate world — that is not why he became an entrepreneur. He wants to “live and die” by his own choices. Perhaps in line with this philosophy of eschewing corporate culture, John told Inc. he listens to everyone in the company, regardless of station. It was not a high-priced executive, but an intern who reported missing pieces from the company’s showroom, alerting John to what was popular enough to steal — and therefore to sell.
In December, Daymond John told Business Insider the lesson he learned from investing in a business that soon went broke. It was in the women’s fashion industry, in which he was a novice. He and his partners threw money at the concept but it failed, leading John to develop some words of wisdom.
“[W]hether you’re running a Fortune 100 company or you are just starting out, you have to be creative and determined, and you have to make sure that — instead of other people’s money — you use other people’s marketing, mind power, manpower, [and] manufacturing. And if you can’t prove your concept when you’re broke, you won’t be able to prove it with money either.”
Daymond John was at the Consumer Electronics Show to debut new smartphone accessories. Shark Tank airs Friday nights on ABC.
[Image: Daymond John/Twitter]
