Paul Mitchell’s John Paul DeJoria talked about the American economy and how to reduce unemployment in an interview with CNBC today.
The interview touched upon President Obama’s New York Times interview in which he complained about ongoing income equality in the country.
DeJoria employs thousands of workers at Paul Mitchell Systems, the hair care empire, and Patron Tequila, both of which he co-founded.
The billionaire claimed that he has never laid off anyone at Paul Mitchell or Petron Tequila even during tough times. This is because his well-paid employees do more than one thing so they don’t have to be let go when business slows down, a multitasking prescription which he recommended for both government and other private sector companies. “If people do stuff, you don’t have unemployment,” DeJoria explained.
When the CNBC interviewer (see embed below) suggested that Federal Reserve policies that haven’t helped the middle class may be partially responsible for the wealth gap in our country, DeJoria politely questioned the business experience and expertise of government officials in Washington:
“That is correct. What they need, no disrespect to government, is they need we the business people, we that started with nothing and made something, advising the government or helping the government. And we’ll do it for nothing because they, no disrespect, I don’t know if the president has even run a lemonade stand, okay, but he is a good man and means well. No disrespect to him, please understand that. You need business people that have come from [nothing to something] and built organizations where people have good jobs, are paid really well, and influence to do more. I am a serial entrepreneur. I have ten companies. But it makes me happy to give people jobs forever. That’s what I like to do.”
DeJoria also mentioned that the US is not a socialistic country and “I don’t think we ever will be,” as long as entrepreneurs are allowed to do their thing in creating and expanding companies.