Shark Tank Co-Host Daymond John meets Executive Editor Dan Roth at LinkedIn Studios to talk about the state of entrepreneurship, the show and the tech bubble.
-Click here to read Daymond John's post: https://www.linkedin.com/pulse/what-i-have-learned-my-seven-years-shark-daymond-john
-Click here to read Dan Roth's post: https://www.linkedin.com/pulse/shark-tanks-daymond-john-explains-his-investing-philosophy-roth
"I think that the level has changed because people are taking the show more seriously. You have entrepreneurs who are doing way more business on there. You still have the ones that are a little crazy as well, because this is just a real world. Myself as well as other Sharks, we've changed, we've adapted to understand what is our swift spot, what people we put around us who can handle these type of companies, what other external companies that we know, that I go, "Wait a minute, I can take this product, I can license it in, or I can do this and what are the deals we have." We've all grown, and that's what entrepreneurs do, we grow every single day.
"I don't look back and go, "Did I ask the right question or not," because the fundamentals of business have always been there. It's just the process now of due diligence afterwards, and how I break down a company is different in my head personally. You wouldn't see the difference on the screen.
"We watch the investments. Is there a number or tally? No. Is there the concept of, "All right, the first year, I did 15 deals. I have to close all 15, and when I close all 15 I just have to throw all the money at it." Instead we go, "All right, this year I did 15. I [mainly 00:01:50] don't want to close at 13 because the paperwork doesn't look right on these two." I don't need to throw all the money at it, because if I give you half a million dollars and then you go buy a website with half a million dollars, I could have built that for 50,000."