Mark Cuban, Shark Tank star and billionaire recently sat down with Barbara Corcoran to be interviewed on her podcast, 888-Barbara. She describes the podcast as a show where people can call in and ask her anything from business to life and everything in between.
In mid-November 2019, Mark Cuban joined Barbara in her studio and he was quite at ease answering just about every question.
He went from topics about himself in his teens and the trouble he would get into to raising his teenage children.
One story which stood out to us was when Barbara brought up the deals he does on Shark Tank. She admits that not every deal either of them do are perfect where a number have failed, others have been quite successful.
Barbara then mentioned Shark Tank investors must do their “due diligence” after they say yes to a deal on the show.
Cuban point blank said many of those “in the tank” “lie about the numbers.” They will inadvertently “leave out that while they have $50K in sales, they have $100K in credit card debt.” While they “try to keep to the original deal,” many times these new revelations in numbers which weren’t discussed can change the course of the deal.
Cuban laughed as he relayed a few stories of tank contestants who he accepted a deal with on the show but then chose against proceeding with the deal due to their new found numbers. “They end up going on the press circuit saying Mark Cuban is an amazing investor, meanwhile, I haven’t even spoken to these people!”
He also mentioned that in today’s day and age with people at your fingertips through the internet, many of the upcoming Shark Tank contestants have access to previous ones and are able to know what types of deals people are getting. “When they start with the lawyers right away, you know they weren’t there to do the deal.” Many of the contestants he says, are “there for the commercial only.”
So how does the duo feel about being on TV on The Shark Tank?
Cuban: “I can’t watch myself on Shark Tank. I’ve probably seen only 1/3 of the shows.”
Corcoran: “When I watch, I cover the side of the screen because I know I look awful.”
Looks like these sharks are somewhat camera shy!
To hear more podcast episodes from Barbara Corcoran check out her podcast.
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