welcome to this special edition of hit mojo on watchmojo.com
mojo on watchmojo.com
mojo on watchmojo.com I’m your host – can cover solution very
I’m your host – can cover solution very
I’m your host – can cover solution very special show Kevin O’Leary’s here
special show Kevin O’Leary’s here
special show Kevin O’Leary’s here obviously you recognize them from shark
obviously you recognize them from shark
obviously you recognize them from shark tank or dragons then you have a new book
tank or dragons then you have a new book
tank or dragons then you have a new book out cold hard truth yes I do
out cold hard truth yes I do
out cold hard truth yes I do I read this on the plane to and back
I read this on the plane to and back
I read this on the plane to and back from New York it’s a very good book it
from New York it’s a very good book it
from New York it’s a very good book it touches on business money and life when
touches on business money and life when
touches on business money and life when and why did you decide to write a book
and why did you decide to write a book
and why did you decide to write a book you know I think I did it for one
you know I think I did it for one
you know I think I did it for one specific reason I think that any
specific reason I think that any
specific reason I think that any entrepreneur that’s had success owes the
entrepreneur that’s had success owes the
entrepreneur that’s had success owes the next generation a roadmap on how to get
next generation a roadmap on how to get
next generation a roadmap on how to get there
there
there not so much in celebrating the successes
not so much in celebrating the successes
not so much in celebrating the successes of what I’ve achieved
of what I’ve achieved
of what I’ve achieved it’s the failures that have the real
it’s the failures that have the real
it’s the failures that have the real lesson in them because what I’m trying
lesson in them because what I’m trying
lesson in them because what I’m trying to do here is say look here’s what not
to do here is say look here’s what not
to do here is say look here’s what not to do here’s the mistakes I made that
to do here’s the mistakes I made that
to do here’s the mistakes I made that very costly and if you can avoid them
very costly and if you can avoid them
very costly and if you can avoid them please do because I think that’s much
please do because I think that’s much
please do because I think that’s much more valuable than talking about success
more valuable than talking about success
more valuable than talking about success okay we’re going to talk about some of
okay we’re going to talk about some of
okay we’re going to talk about some of the failures some of the victories we’ll
the failures some of the victories we’ll
the failures some of the victories we’ll talk about some of your weaknesses and
talk about some of your weaknesses and
talk about some of your weaknesses and how you address that it’s a fascinating
how you address that it’s a fascinating
how you address that it’s a fascinating book when I started reading this I was
book when I started reading this I was
book when I started reading this I was going to ask you like the first question
going to ask you like the first question
going to ask you like the first question was going to be money power success
was going to be money power success
was going to be money power success respect or fame what’s more important I
respect or fame what’s more important I
respect or fame what’s more important I think you make it abundantly clear money
think you make it abundantly clear money
think you make it abundantly clear money is the most important thing so address
is the most important thing so address
is the most important thing so address that why is money the most important
that why is money the most important
that why is money the most important thing it’s not money per se that I’m
thing it’s not money per se that I’m
thing it’s not money per se that I’m pursuing its freedom I’m pursuing I’m
pursuing its freedom I’m pursuing I’m
pursuing its freedom I’m pursuing I’m very specific in the book saying look
very specific in the book saying look
very specific in the book saying look the reason that you’re willing to
the reason that you’re willing to
the reason that you’re willing to sacrifice so much if you’re an
sacrifice so much if you’re an
sacrifice so much if you’re an entrepreneur is one goal to achieve
entrepreneur is one goal to achieve
entrepreneur is one goal to achieve freedom because what is wealth wealth is
freedom because what is wealth wealth is
freedom because what is wealth wealth is the ability to do whatever you want go
the ability to do whatever you want go
the ability to do whatever you want go wherever you wish don’t answer the phone
wherever you wish don’t answer the phone
wherever you wish don’t answer the phone if you don’t want to stay in bed all day
if you don’t want to stay in bed all day
if you don’t want to stay in bed all day if you like go anywhere do anything
if you like go anywhere do anything
if you like go anywhere do anything that’s what freedom is and I think it’s
that’s what freedom is and I think it’s
that’s what freedom is and I think it’s a very noble pursuit because a lot of
a very noble pursuit because a lot of
a very noble pursuit because a lot of good things stem from that you build
good things stem from that you build
good things stem from that you build businesses you create jobs you advance
businesses you create jobs you advance
businesses you create jobs you advance the economy and you’re free yeah I think
the economy and you’re free yeah I think
the economy and you’re free yeah I think if I were to draw a little story line
if I were to draw a little story line
if I were to draw a little story line throughout the book it would be money
throughout the book it would be money
throughout the book it would be money equals gravity equals truth equals
equals gravity equals truth equals
equals gravity equals truth equals freedom and I think the way you cast it
freedom and I think the way you cast it
freedom and I think the way you cast it like that it was very nice although it
like that it was very nice although it
like that it was very nice although it wasn’t Chuck’s T’Pol’s one to another
wasn’t Chuck’s T’Pol’s one to another
wasn’t Chuck’s T’Pol’s one to another but throughout the chapters now after
but throughout the chapters now after
but throughout the chapters now after money what is more important power
money what is more important power
money what is more important power success respect or fame you touch on a
success respect or fame you touch on a
success respect or fame you touch on a few of those things throughout the book
few of those things throughout the book
few of those things throughout the book I think respect I think you know if you
I think respect I think you know if you
I think respect I think you know if you if you achieve your success in a way
if you achieve your success in a way
if you achieve your success in a way that others respect that’s a good thing
that others respect that’s a good thing
that others respect that’s a good thing you know I’m not worried about criticism
you know I’m not worried about criticism
you know I’m not worried about criticism and I get a lot of it for telling the
and I get a lot of it for telling the
and I get a lot of it for telling the truth am i big you know mantra is look
truth am i big you know mantra is look
truth am i big you know mantra is look if you tell the truth you never have to
if you tell the truth you never have to
if you tell the truth you never have to remember what you said it’s that simple
remember what you said it’s that simple
remember what you said it’s that simple and sometimes people get emotionally
and sometimes people get emotionally
and sometimes people get emotionally attached to their ideas in business but
attached to their ideas in business but
attached to their ideas in business but but my attitude is that money doesn’t
but my attitude is that money doesn’t
but my attitude is that money doesn’t have a soul that doesn’t cry for you it
have a soul that doesn’t cry for you it
have a soul that doesn’t cry for you it doesn’t have feelings and and you
doesn’t have feelings and and you
doesn’t have feelings and and you shouldn’t have feelings for it it’s a
shouldn’t have feelings for it it’s a
shouldn’t have feelings for it it’s a tool and so at the end of the day if you
tool and so at the end of the day if you
tool and so at the end of the day if you tell the truth about a business
tell the truth about a business
tell the truth about a business opportunity or you talk about
opportunity or you talk about
opportunity or you talk about investments and people get emotionally
investments and people get emotionally
investments and people get emotionally involved me and they’re upset I don’t
involved me and they’re upset I don’t
involved me and they’re upset I don’t care about that it’s still the truth
care about that it’s still the truth
care about that it’s still the truth yeah that’s true you touch on that
yeah that’s true you touch on that
yeah that’s true you touch on that actually I think two names you use to
actually I think two names you use to
actually I think two names you use to describe yourself are what is it mr.
describe yourself are what is it mr.
describe yourself are what is it mr. wonderful and the merchants of truth
wonderful and the merchants of truth
wonderful and the merchants of truth yeah you have to pick one which one well
yeah you have to pick one which one well
yeah you have to pick one which one well you know mr. wonderful nomenclature came
you know mr. wonderful nomenclature came
you know mr. wonderful nomenclature came from you know a sarcastic remark on
from you know a sarcastic remark on
from you know a sarcastic remark on letting Shark Tank of dragons in when
letting Shark Tank of dragons in when
letting Shark Tank of dragons in when somebody said you think yours mr.
somebody said you think yours mr.
somebody said you think yours mr. wonderful for telling the truth and I
wonderful for telling the truth and I
wonderful for telling the truth and I thought that’s a great name I’m gonna go
thought that’s a great name I’m gonna go
thought that’s a great name I’m gonna go with that but but I I think I am the
with that but but I I think I am the
with that but but I I think I am the merchant of truth because I never lied
merchant of truth because I never lied
merchant of truth because I never lied anybody I mean I my attitude is look if
anybody I mean I my attitude is look if
anybody I mean I my attitude is look if you can’t take the truth they don’t
you can’t take the truth they don’t
you can’t take the truth they don’t don’t don’t even attempt to be an
don’t don’t even attempt to be an
don’t don’t even attempt to be an entrepreneur because at the end of the
entrepreneur because at the end of the
entrepreneur because at the end of the day that the cold hard facts of every
day that the cold hard facts of every
day that the cold hard facts of every deal are gonna come to light anyways
deal are gonna come to light anyways
deal are gonna come to light anyways that’s just how it is all right Greg
that’s just how it is all right Greg
that’s just how it is all right Greg rhetoric okay so whenever I read about
rhetoric okay so whenever I read about
rhetoric okay so whenever I read about successful people I try to see if
successful people I try to see if
successful people I try to see if they’re in one of two baskets either
they’re in one of two baskets either
they’re in one of two baskets either they’re crazy risk takers that you know
they’re crazy risk takers that you know
they’re crazy risk takers that you know sort of overlook any fear or they’re
sort of overlook any fear or they’re
sort of overlook any fear or they’re very conservative and they just manage
very conservative and they just manage
very conservative and they just manage to build a business so you lessons from
to build a business so you lessons from
to build a business so you lessons from your mom I could see you’re very
your mom I could see you’re very
your mom I could see you’re very conservative on one side but you’ve also
conservative on one side but you’ve also
conservative on one side but you’ve also taken a lot of risks so what drives you
taken a lot of risks so what drives you
taken a lot of risks so what drives you more is it just the desire to succeed or
more is it just the desire to succeed or
more is it just the desire to succeed or is it the risk of failure and you just
is it the risk of failure and you just
is it the risk of failure and you just account for that I think that’s a great
account for that I think that’s a great
account for that I think that’s a great question and and I you know I think what
question and and I you know I think what
question and and I you know I think what happens is your profile for risk changes
happens is your profile for risk changes
happens is your profile for risk changes as you age because you realize how hard
as you age because you realize how hard
as you age because you realize how hard it is to make money you know I put about
it is to make money you know I put about
it is to make money you know I put about 5% of my annual portfolio into venture
5% of my annual portfolio into venture
5% of my annual portfolio into venture investments which are highly risky I
investments which are highly risky I
investments which are highly risky I make the assumption when I invest there
make the assumption when I invest there
make the assumption when I invest there that the chances of me being successful
that the chances of me being successful
that the chances of me being successful are very low and then go to 0 so that 5%
are very low and then go to 0 so that 5%
are very low and then go to 0 so that 5% of my net worth is always at risk of
of my net worth is always at risk of
of my net worth is always at risk of going to zero but it’s only 5% the rest
going to zero but it’s only 5% the rest
going to zero but it’s only 5% the rest of my money I’m very conservative with I
of my money I’m very conservative with I
of my money I’m very conservative with I buy in
buy in
buy in instruments that generate yield so lots
instruments that generate yield so lots
instruments that generate yield so lots of bonds with interest lots of
of bonds with interest lots of
of bonds with interest lots of dividend-paying stocks which is what I
dividend-paying stocks which is what I
dividend-paying stocks which is what I learned from my mother I do not own a
learned from my mother I do not own a
learned from my mother I do not own a single security that doesn’t pay
single security that doesn’t pay
single security that doesn’t pay interest and I look at my portfolio like
interest and I look at my portfolio like
interest and I look at my portfolio like a chicken on a spit dripping cash that’s
a chicken on a spit dripping cash that’s
a chicken on a spit dripping cash that’s you know what I often say about it every
you know what I often say about it every
you know what I often say about it every month I want to check as I’m putting
month I want to check as I’m putting
month I want to check as I’m putting money in harm’s way okay I want to come
money in harm’s way okay I want to come
money in harm’s way okay I want to come back and entrepreneurship but now you’re
back and entrepreneurship but now you’re
back and entrepreneurship but now you’re touching on investing so clearly the
touching on investing so clearly the
touching on investing so clearly the O’Leary funds are you know a value
O’Leary funds are you know a value
O’Leary funds are you know a value vehicle we get that you know they got to
vehicle we get that you know they got to
vehicle we get that you know they got to pay a dividend which i think is smart
pay a dividend which i think is smart
pay a dividend which i think is smart you mentioned you raise 1.5 billion in
you mentioned you raise 1.5 billion in
you mentioned you raise 1.5 billion in three years which you said was a record
three years which you said was a record
three years which you said was a record it is okay well assuming it is just
it is okay well assuming it is just
it is okay well assuming it is just playing devil’s advocate
playing devil’s advocate
playing devil’s advocate wasn’t that easy because it was after
wasn’t that easy because it was after
wasn’t that easy because it was after the crash where people were burnt like
the crash where people were burnt like
the crash where people were burnt like you I don’t I’m not doubting you but
you I don’t I’m not doubting you but
you I don’t I’m not doubting you but wouldn’t have been hard to do that in a
wouldn’t have been hard to do that in a
wouldn’t have been hard to do that in a bull market where people overlook risk I
bull market where people overlook risk I
bull market where people overlook risk I don’t think so because I I think at the
don’t think so because I I think at the
don’t think so because I I think at the end of the day as the population ages
end of the day as the population ages
end of the day as the population ages you think about this massive large group
you think about this massive large group
you think about this massive large group that are baby boomers going into their
that are baby boomers going into their
that are baby boomers going into their 50s and 60s what they need now is not
50s and 60s what they need now is not
50s and 60s what they need now is not capital appreciation they need two
capital appreciation they need two
capital appreciation they need two metrics preservation and yield it used
metrics preservation and yield it used
metrics preservation and yield it used to be easy in Canada to get 6% return on
to be easy in Canada to get 6% return on
to be easy in Canada to get 6% return on your money you can’t get near that
your money you can’t get near that
your money you can’t get near that anymore so I’ve had to figure out a way
anymore so I’ve had to figure out a way
anymore so I’ve had to figure out a way to use money managers that are able to
to use money managers that are able to
to use money managers that are able to buy securities globally in countries
buy securities globally in countries
buy securities globally in countries like Brazil India China Asian countries
like Brazil India China Asian countries
like Brazil India China Asian countries where they have fast GDP growth but we
where they have fast GDP growth but we
where they have fast GDP growth but we don’t have anymore so I can buy the
don’t have anymore so I can buy the
don’t have anymore so I can buy the securities in these large multi-billion
securities in these large multi-billion
securities in these large multi-billion dollar market cap companies but they’re
dollar market cap companies but they’re
dollar market cap companies but they’re abroad then I have to hedge it back to
abroad then I have to hedge it back to
abroad then I have to hedge it back to the Canadian dollars and there’s no
the Canadian dollars and there’s no
the Canadian dollars and there’s no currency risk this is complicated stuff
currency risk this is complicated stuff
currency risk this is complicated stuff then I can get them 6% and it turns out
then I can get them 6% and it turns out
then I can get them 6% and it turns out there’s tens of thousands of them that
there’s tens of thousands of them that
there’s tens of thousands of them that want that I did not anticipate that we
want that I did not anticipate that we
want that I did not anticipate that we would end up with we’ve actually raised
would end up with we’ve actually raised
would end up with we’ve actually raised a billion nine who knew that could
a billion nine who knew that could
a billion nine who knew that could happen the banks thought it would be 50
happen the banks thought it would be 50
happen the banks thought it would be 50 million I think that the you know this
million I think that the you know this
million I think that the you know this value yield proposition that my mother
value yield proposition that my mother
value yield proposition that my mother taught me is exactly what the market
taught me is exactly what the market
taught me is exactly what the market needs today
needs today
needs today now um you’re very bullish on Brazil
now um you’re very bullish on Brazil
now um you’re very bullish on Brazil everyone is always talking India or
everyone is always talking India or
everyone is always talking India or China China or India I share that
China China or India I share that
China China or India I share that optimism with Brazil but do you invest
optimism with Brazil but do you invest
optimism with Brazil but do you invest in Brazil maybe not just because of the
in Brazil maybe not just because of the
in Brazil maybe not just because of the core mackeral reality there that it’s
core mackeral reality there that it’s
core mackeral reality there that it’s you know good opportunity but just
you know good opportunity but just
you know good opportunity but just because maybe India and China have been
because maybe India and China have been
because maybe India and China have been over invested like how much of it is one
over invested like how much of it is one
over invested like how much of it is one has been you know forgotten and how much
has been you know forgotten and how much
has been you know forgotten and how much is it that the other one we are
is it that the other one we are
is it that the other one we are have way too much money in there and
have way too much money in there and
have way too much money in there and prices have gone up too much you know I
prices have gone up too much you know I
prices have gone up too much you know I don’t do geographic allocation here’s
don’t do geographic allocation here’s
don’t do geographic allocation here’s how I work let’s say I decide that I
how I work let’s say I decide that I
how I work let’s say I decide that I want to have 20% of my portfolio and
want to have 20% of my portfolio and
want to have 20% of my portfolio and telco which I like I love telco because
telco which I like I love telco because
telco which I like I love telco because it’s big infrastructure it’s a growing
it’s big infrastructure it’s a growing
it’s big infrastructure it’s a growing market in emerging markets and it pays
market in emerging markets and it pays
market in emerging markets and it pays huge dividends cell operators so let’s
huge dividends cell operators so let’s
huge dividends cell operators so let’s take Brazil for example you know I’m
take Brazil for example you know I’m
take Brazil for example you know I’m agnostic to whether I buy Rogers or Shaw
agnostic to whether I buy Rogers or Shaw
agnostic to whether I buy Rogers or Shaw or the Brazilian telco I just look at
or the Brazilian telco I just look at
or the Brazilian telco I just look at the companies individually and I say to
the companies individually and I say to
the companies individually and I say to myself which one pays the highest
myself which one pays the highest
myself which one pays the highest dividend as the highest growth rate has
dividend as the highest growth rate has
dividend as the highest growth rate has the lowest debt on its balance sheet and
the lowest debt on its balance sheet and
the lowest debt on its balance sheet and has the best let’s call it industry
has the best let’s call it industry
has the best let’s call it industry characteristics maybe the largest market
characteristics maybe the largest market
characteristics maybe the largest market share the most expensive telco on earth
share the most expensive telco on earth
share the most expensive telco on earth in other words let’s just say the
in other words let’s just say the
in other words let’s just say the multiple of free cash flow which is a
multiple of free cash flow which is a
multiple of free cash flow which is a concept of measuring a business’s value
concept of measuring a business’s value
concept of measuring a business’s value the number one most expensive so to me
the number one most expensive so to me
the number one most expensive so to me would be the riskiest is Rogers it is
would be the riskiest is Rogers it is
would be the riskiest is Rogers it is the most expensive telco on earth why is
the most expensive telco on earth why is
the most expensive telco on earth why is that because Canadians don’t want to
that because Canadians don’t want to
that because Canadians don’t want to invest outside of the country and
invest outside of the country and
invest outside of the country and there’s very few large telco operators
there’s very few large telco operators
there’s very few large telco operators so they’re willing to spend a crazy
so they’re willing to spend a crazy
so they’re willing to spend a crazy multiple to own Rogers and have you’ve
multiple to own Rogers and have you’ve
multiple to own Rogers and have you’ve done that you’ve made nothing on your
done that you’ve made nothing on your
done that you’ve made nothing on your capital for the last three years because
capital for the last three years because
capital for the last three years because the stock has done nothing institutions
the stock has done nothing institutions
the stock has done nothing institutions realize it’s very expensive they don’t
realize it’s very expensive they don’t
realize it’s very expensive they don’t invest their money there then let’s look
invest their money there then let’s look
invest their money there then let’s look at something like the Brazilian telco
at something like the Brazilian telco
at something like the Brazilian telco the dividend yield is north of seven
the dividend yield is north of seven
the dividend yield is north of seven percent
percent
percent it’s got thirty four million subscribers
it’s got thirty four million subscribers
it’s got thirty four million subscribers bigger than all the telcos and Canada
bigger than all the telcos and Canada
bigger than all the telcos and Canada put together the lowest debt of any
put together the lowest debt of any
put together the lowest debt of any balance sheet which one am I gonna
balance sheet which one am I gonna
balance sheet which one am I gonna invest in I’m investing the Brazilian
invest in I’m investing the Brazilian
invest in I’m investing the Brazilian one which is where I do have my money
one which is where I do have my money
one which is where I do have my money you’re very binary it’s always very
you’re very binary it’s always very
you’re very binary it’s always very black and white and I’m not saying that
black and white and I’m not saying that
black and white and I’m not saying that as a bad thing it’s something I wish I
as a bad thing it’s something I wish I
as a bad thing it’s something I wish I had more but like you let’s away from
had more but like you let’s away from
had more but like you let’s away from investing let’s just shift gears and
investing let’s just shift gears and
investing let’s just shift gears and like when you talk about trouble or use
like when you talk about trouble or use
like when you talk about trouble or use problematic employees never change let’s
problematic employees never change let’s
problematic employees never change let’s now jump back to management yeah do you
now jump back to management yeah do you
now jump back to management yeah do you really believe that yeah I do
really believe that yeah I do
really believe that yeah I do the way I look at it cuz I’ve had a long
the way I look at it cuz I’ve had a long
the way I look at it cuz I’ve had a long history of doing this many many
history of doing this many many
history of doing this many many businesses the minute it crosses my mind
businesses the minute it crosses my mind
businesses the minute it crosses my mind to fire somebody is when I fire them I
to fire somebody is when I fire them I
to fire somebody is when I fire them I never think about it a second time
never think about it a second time
never think about it a second time because I’ve learned they never get
because I’ve learned they never get
because I’ve learned they never get better giving them time to fix
better giving them time to fix
better giving them time to fix themselves never works and while they’re
themselves never works and while they’re
themselves never works and while they’re in your business they’re poisoning it
in your business they’re poisoning it
in your business they’re poisoning it you know an employee is an interesting
you know an employee is an interesting
you know an employee is an interesting concept because they’re a cause
concept because they’re a cause
concept because they’re a cause and you want to eliminate cost when
and you want to eliminate cost when
and you want to eliminate cost when they’re not efficient and so let’s just
they’re not efficient and so let’s just
they’re not efficient and so let’s just you know take an arm’s length and take
you know take an arm’s length and take
you know take an arm’s length and take the emotion out of it you want the
the emotion out of it you want the
the emotion out of it you want the employees that are adding value that are
employees that are adding value that are
employees that are adding value that are happy to work there that are pursuing
happy to work there that are pursuing
happy to work there that are pursuing wealth of some kind of stability you
wealth of some kind of stability you
wealth of some kind of stability you want to eliminate the ones that aren’t
want to eliminate the ones that aren’t
want to eliminate the ones that aren’t doing that so that’s what I do to me I’m
doing that so that’s what I do to me I’m
doing that so that’s what I do to me I’m it’s like a diseased body you want to
it’s like a diseased body you want to
it’s like a diseased body you want to cut that organ out of its disease so
cut that organ out of its disease so
cut that organ out of its disease so that the rest of the body remains
that the rest of the body remains
that the rest of the body remains healthy it’s exactly the analogy but
healthy it’s exactly the analogy but
healthy it’s exactly the analogy but look I’m very fair about it and I fire
look I’m very fair about it and I fire
look I’m very fair about it and I fire them myself and I’ve been fired many
them myself and I’ve been fired many
them myself and I’ve been fired many times this is part of the other gum
times this is part of the other gum
times this is part of the other gum scraping incident sure you know the
scraping incident sure you know the
scraping incident sure you know the issue is this is the Darwinian nature of
issue is this is the Darwinian nature of
issue is this is the Darwinian nature of business the DNA of a business is to
business the DNA of a business is to
business the DNA of a business is to make money not to be a social club if
make money not to be a social club if
make money not to be a social club if you want to save a baby whale you can do
you want to save a baby whale you can do
you want to save a baby whale you can do that after you’ve taken your profits out
that after you’ve taken your profits out
that after you’ve taken your profits out of the business and I don’t go to work
of the business and I don’t go to work
of the business and I don’t go to work to make friends I go there to make money
to make friends I go there to make money
to make friends I go there to make money so if you want a friend buy a dog you
so if you want a friend buy a dog you
so if you want a friend buy a dog you open up two tangents so let’s stay on
open up two tangents so let’s stay on
open up two tangents so let’s stay on the binary great okay you also say
the binary great okay you also say
the binary great okay you also say people are either like an employee or an
people are either like an employee or an
people are either like an employee or an employer and I love the sort of the
employer and I love the sort of the
employer and I love the sort of the entrepreneurial is there any other kind
entrepreneurial is there any other kind
entrepreneurial is there any other kind of person well no but I personally like
of person well no but I personally like
of person well no but I personally like I was an executive for a few years and I
I was an executive for a few years and I
I was an executive for a few years and I got a good kick out of that and then I
got a good kick out of that and then I
got a good kick out of that and then I said I want to now start a company so I
said I want to now start a company so I
said I want to now start a company so I started watching mojo now if somebody
started watching mojo now if somebody
started watching mojo now if somebody comes and buys me tomorrow like my
comes and buys me tomorrow like my
comes and buys me tomorrow like my little Mattel maybe this get smaller
little Mattel maybe this get smaller
little Mattel maybe this get smaller scale I’m perfectly fine for a few years
scale I’m perfectly fine for a few years
scale I’m perfectly fine for a few years being the executive but but you I see
being the executive but but you I see
being the executive but but you I see you’re not like that but do you think
you’re not like that but do you think
you’re not like that but do you think that it’s really that great that people
that it’s really that great that people
that it’s really that great that people are either an employee and they can’t
are either an employee and they can’t
are either an employee and they can’t lead or or can lead but not be the top
lead or or can lead but not be the top
lead or or can lead but not be the top guy who has all the weight on the
guy who has all the weight on the
guy who has all the weight on the shoulder don’t you think that there is a
shoulder don’t you think that there is a
shoulder don’t you think that there is a gray matter like well I’ve tried being
gray matter like well I’ve tried being
gray matter like well I’ve tried being an employee and it doesn’t work for me I
an employee and it doesn’t work for me I
an employee and it doesn’t work for me I don’t know how to do it so you know
don’t know how to do it so you know
don’t know how to do it so you know it’ll never work for me so I if somebody
it’ll never work for me so I if somebody
it’ll never work for me so I if somebody buys my companies I generally leave and
buys my companies I generally leave and
buys my companies I generally leave and start a new one because that’s what I
start a new one because that’s what I
start a new one because that’s what I know how to do I tried working for a
know how to do I tried working for a
know how to do I tried working for a while inside Mattel but I was one of the
while inside Mattel but I was one of the
while inside Mattel but I was one of the largest shareholders of the company and
largest shareholders of the company and
largest shareholders of the company and I never how much did you have share wise
I never how much did you have share wise
I never how much did you have share wise I mean I know what the deal was what
I mean I know what the deal was what
I mean I know what the deal was what happened was we took half cash half
happened was we took half cash half
happened was we took half cash half stock and so if you looked at the
stock and so if you looked at the
stock and so if you looked at the executives of Mattel they didn’t really
executives of Mattel they didn’t really
executives of Mattel they didn’t really own much stock they had a bunch of
own much stock they had a bunch of
own much stock they had a bunch of options so I showed up the first day of
options so I showed up the first day of
options so I showed up the first day of work and I owned more stock than the CEO
work and I owned more stock than the CEO
work and I owned more stock than the CEO did so any time I didn’t like something
did so any time I didn’t like something
did so any time I didn’t like something I saw and how it was being operated I
I saw and how it was being operated I
I saw and how it was being operated I would say look I’m a huge shareholder
would say look I’m a huge shareholder
would say look I’m a huge shareholder here and I want you to fix that and okay
here and I want you to fix that and okay
here and I want you to fix that and okay this is now a great opening let’s take a
this is now a great opening let’s take a
this is now a great opening let’s take a short break let’s come back I want to
short break let’s come back I want to
short break let’s come back I want to talk about the Mattel deal we’ll be
talk about the Mattel deal we’ll be
talk about the Mattel deal we’ll be right back for segment two of hipbones
right back for segment two of hipbones
right back for segment two of hipbones with Kevin O’Leary
”
Be First to Comment