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"Shark Tank" Star Daymond John on His Social Media Game

"Shark Tank" Star Daymond John on His Social Media Game

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The businessman and TV personality weighs in on his fellow Sharks and his love of social media.

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Young Hollywood

I'm with the man of Shark Tank, Daymond John.

Daymond John

Ah, I like the way that starts off. The shark of Shark Tank.

Young Hollywood

One of my favorites. Thank you. Um, so, season eight. Yeah. The show is so popular. So much has changed. I want to know is there anything that's evolved in terms of like your standers of investing or your levels of expectations for entrepreneurs coming in the tank?

Daymond John

Yeah, absolutely. You know, I think that the entrepreneurs coming in the tank, a lot of them are very, very well prepared. Um, you know what, some of those I actually are not looking to do deals with. I I see all those type of deals outside the tank. And I think that Shark Tank, I love the essence of it when it was that everyday mom and dad or that mom entrepreneur, that entrepreneur who did not have all the big venture round capital stuff. I look for those people, the everyday people. And I and I start to look more for them. So, so I I I think I'm going back towards the just the everyday person.

Young Hollywood

But in the past, like some of the episodes there's been those stories and they're crying. But you guys still don't give him a deal. So, are you kind of like open to Does that change anything?

Daymond John

No, no, no. First of all, I'm not going to give him money for pity or charity. They have to have their stuff together and they just didn't get the right opportunity. The ones that are just thinking they're going to cry and get money. You know, I I hate to say it. I'm going to be like Mr. Wonderful, you know, don't cry for money, money's not going to cry for you. But I also, um I also gravitate more towards just the people who have a good concept, they've out there a little bit and they need some more fuel on their fire. Unlike you see sometimes people will come in with $10 million valuations. That's not as interesting to me. I can go to the stock market or go to Silicon Valley and get those all day.

Young Hollywood

And then, I've talked about your social game for a minute, because you, when Periscope came out, you were all over it. When Snapchat came out, you're all over Snapchat. I watch your Snapchats every day. Is there something that you're loving right now? Is it Snapchat or is it what do you think about the whole social world?

Daymond John

I'm glad you asked. Oh. I happen to have this 360 camera in my pocket right now and I'm going to start doing those videos where you, they're going to make you dizzy. You can look at them on YouTube and uh all those things and see everything around us. So I think in a minute, I'm actually going to film it so everybody can see everything going on around us.

Young Hollywood

That is amazing. So that's like a real-time you just kind of walk around holding it?

Daymond John

Yeah, yeah. So, but I really love Snapchat. I mean, I love the ease of it um and listen, I tell everybody, I'm dyslexic, so it's not that easy for me to to, you know, write up something really quick on Snapchat. And post it.

Young Hollywood

Love it. And then, every shark on the panel, you guys all have your own methodologies, your own style of investing. Other than your own, is there anyone on the panel that you you know, really believe in, that there's like who's the most successful?

Daymond John

You know, all joking aside, I have a huge amount of respect for all the sharks. I think that I love Barbara's way of investing. Well, you know, Barbara kind of will just she judges the person too much. Like if the person has gingivitis or something like that, and she talks about that, but I like her for investing. Lori, my new thing is I've realized this, if it's under $19. 99 and it's plastic and it's crap, Lori can sell it. Right? She just she knows her market, right? She's a Queen of QVC. Um, Kevin, no, not really. I mean, Kevin has some really great mathematical ways to get his money back. That's the royalties. Yeah, either way he's sucking the blood out of you. Yeah. Um, I like Mark. And Chris is kind of new. You know, Chris is uh, I've known Chris prior to the show and um, he's kind of edgy. I got to I got to see his deal making a little bit uh, I I got to see how they turn out. He he looks like he does good deals, but I got to see at the end of the day if they end up coming to market.

Young Hollywood

And out of all the deals you've done with Sharks up until now, is there someone like that you just love doing business with, cuz you're, you know, in partnership with a lot of people.

Daymond John

Yeah. I don't like doing business with any of the sharks. I really don't. Um, I'll tell you why. You know what? It's just a it's a bunch of chefs. It's just a bunch of chefs. Yeah. You know, like Cuban, you know, you know how much money this guy has? So, if I'm up here trying to sit there and say, is this a right investment? He's so busy just trying to go and play basketball. He just gives the person a million dollars. And then I go, well 50% of that was mine, all right? Just in case. Um, Barbara is great. She's, yeah, I just don't like dealing with any of them.

Young Hollywood

Okay, well, that's fair enough. Yeah. And then you, you know, you've built such an amazing business empire yourself. Was there anyone in your life that's been, you know, a mentor to you or someone that was really influential?

Daymond John

Oh, you know, so many people have been part of my life. Um, I'm I I think I'm here cuz I'm a series of mentors. If I were to to name off the people, it'd literally be 100 people from my ex-wife to my kids, to my Fubu partners, to Samsung, to to even Mark Burnett and Clay Newbill for giving me the opportunity here, the people that all the people that bought Fubu. It's just too many people for me to name. It really is. Yeah.

Young Hollywood

And then, is there something in your life, like what do so many people want to be successful. There's entrepreneurs, there's want-trepreneurs. Sure. How do you do you know right away when someone comes in the tank that this person is really a true entrepreneur versus someone who's like maybe trying to scam you?

Daymond John

You know, I I don't know immediately when they come in the tank, but I do know by the end of the time, I'm usually the first shark to get the gut feeling on if that person is, uh, you know, making mistakes because they don't know any better or they're putting on an act or they're trying to use the platform or they're hard working people that just need a shot. And I usually call it almost all the time right on the head. And all the sharks always say, I don't know how he figured it out, but he figures it out.

Young Hollywood

And then, is there anybody there's been a lot of guest sharks. Yeah. Is there anyone that you really want to be a guest shark? If you could pick?

Daymond John

Richard Branson would probably be a really great guest shark. I would love to see Richard. Yeah. So Richard, yeah. Absolutely. Another great dyslexic.

Young Hollywood

Um, is there a quote that you love to live by?

Daymond John

Yep. Money is a great slave, but a horrible master.

Young Hollywood

Ooh, interesting. At what what made you what is that quote? Why is it something relatable?

Daymond John

Well, it's just that I've seen so many people that have done things for money, who either ended up in the wrong place or when they made it, they spent it. Um, I've seen the tool of money being abused and I thought that, you know, I thought in my past too, coming up, I could be a millionaire if I only did this and this and that. And if you do things purely because you just want to make money, those people are generally miserable and or they never get what they want. Yeah.

Young Hollywood

Interesting. Well, Daymond John, so excited for season eight. Congratulations on everything that's been going on. And thanks for always supporting us.

Daymond John

Thank you. Yeah. Thank you.

Timestamps are approximate — click one to jump the player.

PEOPLE MENTIONED

  • Daymond John

    The main subject of the interview.

  • Mr. Wonderful

    Referred to by Daymond John as an example of a tough Shark.

  • Barbara

    Fellow Shark, Daymond likes her investing style.

  • Lori

    Fellow Shark, Queen of QVC.

  • Kevin

    Fellow Shark, known for mathematical ways to get money back.

  • Mark

    Fellow Shark, Daymond likes him.

  • Chris

    New guest Shark, Daymond knows him but is still observing his deal-making.

  • Cuban

    Fellow Shark, Mark Cuban is mentioned for giving away money quickly.

  • Mark Burnett

    Mentor, gave Daymond the opportunity on Shark Tank.

  • Clay Newbill

    Mentor, gave Daymond the opportunity on Shark Tank.

  • Richard Branson

    Desired guest Shark and fellow dyslexic.

FAQ

What is Daymond John's current investment philosophy on Shark Tank?+
Daymond John is increasingly looking to invest in 'everyday people' and mom-and-pop entrepreneurs who need fuel for their fire, rather than highly-valued startups.
What social media platforms does Daymond John use?+
Daymond John loves Snapchat for its ease of use and is excited about using 360-degree cameras for content, having previously been active on Periscope.
Which Shark's investment style does Daymond John admire?+
Daymond John has a huge amount of respect for all the Sharks and specifically likes Barbara's way of investing and Lori's ability to sell certain products.
Why does Daymond John dislike doing business with other Sharks?+
Daymond John explains that partnering with other Sharks is difficult because they are all like 'chefs' with strong opinions, and he feels they move too quickly on deals sometimes.
Who does Daymond John credit as mentors?+
Daymond John states he has had a series of mentors throughout his life, including his ex-wife, children, Fubu partners, Samsung, Mark Burnett, and Clay Newbill.
What is Daymond John's favorite quote to live by?+
Daymond John's favorite quote is, 'Money is a great slave, but a horrible master,' reflecting his belief that pursuing money purely leads to misery.

FAN SHOP

"SHARK TANK" STAR DAYMOND JOHN ON HIS SOCIAL MEDIA GAME · FAN SHOP

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