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The Adam Friedland Show - Season Two Episode 27 | Kevin O'Leary
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Transcript 12,221 words · 9 speakers
Speaker names marked ? are inferred from speaking time and the show’s known hosts — they are not voice-verified.
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6:06 Speaker 02 Well, I don't know, it was kinda smooth and slow. What do you think?
6:15 Speaker 02 A bluesy day.
7:22 Adam Friedland? Hello and welcome back to The Adam Friedland Show. It's Adam Friedland's second to last episode of the year. Merry Christmas, everyone. I hope you guys are having a great holiday season. I'm going back on the road, of course. Emerald City Comedy Club, Seattle, Washington, January 22nd and 24th. I'm doing five shows. Get tickets at emeraldcitycomedy.com. And also, there's a link in the description. Caleb will be there as well. And as always, guys, a sincere thank you to our members here on youtube.com. You guys have made this show possible this year. If you'd like to sign up, members get access to all of our episodes early. And if you join at a second or third tier, you get your name in the credits of this fine program. If you'd like to join the Friedland Family Foundation, you can do so by clicking the "Join" button here on youtube.com
8:07 Adam Friedland? or by clicking the link in the description of this video. Also, there's a link for Patreon if you prefer to support the show through Patreon. Hey, guys, merch is available. Christmas is what, two days, three days away? You can get it for maybe, probably after Christmas. I don't... Yeah, you can get it for after Christmas. I'm not gonna make any clips. You can get it tomorrow. New Year's gift. You can get it for a New Year's gift. My guest this week is legendary rock musician Kevin "Mr. Wonderful" O'Leary.
8:35 Adam Friedland? His nickname is "Mr. Wonderful" because he's known primarily for being wonderful at playing guitar and dressing wonderful as well. Caleb.
8:47 Adam Friedland? We've all heard the tracks, but Kevin is making the musician goes actor turn official with the release of Marty Supreme: Music and Movies. Music and Movies, Alexander wept, for there were no more lands to conquer. Smart. It's the end of the year, guys. I'm wearing the same clothes as last week. Guess why? Because we... Because I'm recording. We're dropping... I'm not saying it. Have a nice Christmas. Enjoy this one. Go see Marty Supreme in theaters everywhere. Support the movies, okay? Because pretty soon, pretty soon, pretty soon, there's gonna be one fucking studio. And that is...
9:31 Adam Friedland? Uh, what is it? What is our... And that is Joe Max Productions. I forgot the name of it. So guys, Kevin O'Leary, enjoy it. Bye, give it up. Go see the movies. Thank you to Ro for sponsoring this episode. I'm not a Rose Sparks user, but I'm excited to tell you what it's all about. Women can sense confidence in the bedroom. They think it's sexy. And I've heard that Rose Sparks is the easiest way to not worry about your erection and how it can affect your swag in the bedroom. Rose Sparks is a two-in-one prescription treatment for guys... What's up, dude? Who want harder and... Fuck, I can't... Can you make the words larger?
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11:27 Adam Friedland? Ladies and gentlemen, entrepreneur, business legend, entertainment legend now, and now actor. He's in the movie Marty Supreme, coming out Christmas. Everyone, please put your hands together for Kevin O'Leary.
11:44 Adam Friedland? More noise.
11:47 Speaker 02 Thank you, thank you, thank you so much. I really appreciate it.
11:50 Adam Friedland? So Kevin's a massive fan. He's been emailing us nonstop. I said, "You can finally do the show."
11:55 Speaker 02 Before I came in here, I checked you out. You're OK.
11:58 Adam Friedland? I'm OK.
11:58 Speaker 02 I'm gonna give you 7.2 out of 10. I think that's reasonable.
12:01 Adam Friedland? 7.2?
12:01 Speaker 02 You may be able to increase your score depending on how today goes.
12:04 Adam Friedland? Oh, I think, I think I'm gonna be 9.9 after this.
12:07 Speaker 02 Really?
12:08 Adam Friedland? I have a feeling we're gonna be best friends. I don't know why.
12:10 Speaker 02 OK, that's good.
12:11 Adam Friedland? And I need a lot of advice from you, so I think...
12:13 Speaker 02 I'm ready to give it.
12:14 Adam Friedland? Oh, first of all, I want to congratulate you on the film, on Marty. I was at the premiere at Lincoln Center. Were you there, or no?
12:22 Speaker 02 No, I have only seen the sequences that I did the voice-overs on. I intentionally waited, and I do not talk to Josh every day, almost. I'm gonna do the SAG screening for the first time on Sunday, and then do the LA premiere on Monday of next week, then come to New York. We're on a full promotional swing on this movie.
12:42 Adam Friedland? Yeah.
12:43 Speaker 02 Obviously, 824 is excited about it. There's a good Oscar buzz for Timmy. I want to see him win it, obviously. That would be great.
12:50 Adam Friedland? What about you?
12:52 Speaker 02 I don't think they push us hard on the supporting actor role somehow, but you know, we'll see. I was seeing that, honestly, at least in nomination. I'd love it. I mean, I've never acted before. I had no idea what I was getting into. And I have a theory that you may want to consider, and here's what it is. I'm really primarily an investor. That's what I do. I invest in a lot of businesses and people. And so, over the years, you know, you invest in a startup or a nascent company, half of them fail. But five years later, maybe seven years later, the winning companies, when you're exiting and you're getting 10,000 X on your money, the men and women that run those, do they have any common attributes?
13:36 Speaker 02 I started to ask myself, what do they have that's common? Even though they don't know each other, even though the businesses are in different sectors, they're all different. And what is common? Well, there is one thing, and this is kind of unique. True. If you look and talk to them, because you get to know them after five years, and they say, you know, you ask them, "How do you spend your time? I mean, I know you're working like hell, but what else do you do?" In every case, they spend 20, 30% of their day doing something completely out of their comfort zone. Crazy shit, like paragliding, going to Switzerland and jumping off a cliff and learning how to do that, which is, I think, nuts, but they do it.
14:21 Speaker 02 Or they go to space. They buy one of those things up in, you know, Virgin or whatever it is. Spaceship, yeah. Or they learn how to play the cello, or... What's yours? Well, I like to think that the things that really keep me passionate are my black and white photography that I still do with Leica cameras and Hasselblads. I've been doing that my whole life. I remain an editor. I cut at least one of our social media posts every week on Premiere because I used to cut film. I practice my guitars as much as I can. I collect watches. Those are all different than what I do as an investor. But my point is, when you get an opportunity... So here's what happened with Ronnie Supreme. I get a call from Josh and Ronnie, and it
15:06 Speaker 02 actually came through my agent, and he said, "Listen, Kevin," great guy, Jay Surs, I've known him forever, been all the way up through television for years with him. He said, "You know, look, I want you to think about this seriously. You've built a big franchise here." But you don't know how to act and you've never done this. You could go out there and shit the bed and totally destroy our franchise that we've built together. And I said, Jay.
15:31 Adam Friedland? Fuck him.
15:32 Speaker 02 Well, I said, how do you know I'm gonna shit the bed? How do I know I'm gonna shit the bed? How do I know until I try it? My whole point is you gotta go do something that you... Even though you may think, shit, it may not work. Why not give it a shot? Because fifty percent of the time you have a great outcome.
15:49 Adam Friedland? Yeah.
15:49 Speaker 02 Which I think, hopefully, will let the audience decide. In the case of, the reviews looked pretty good. But I didn't know how to act and they told me after we read the lines and they came up to my lake house. They said, "Look, we're looking for a real asshole and you do that naturally."
16:06 Adam Friedland? Yeah.
16:06 Speaker 02 So, okay.
16:09 Adam Friedland? The answer is you did know how to act because you've been in show business. You've been on television.
16:13 Speaker 02 Yeah, but I wouldn't say that reality TV is the same as the cadence between scripted lines, which is what I learned the first day of shooting.
16:19 Adam Friedland? Sure, yeah.
16:20 Speaker 02 It's different.
16:21 Adam Friedland? I will say, and I'm just some guy, but from my, in my opinion, as a first-time actor, and it's a sizable performance. I mean, it is natural. I mean, you do not communicate as like, oh, this is a gimmick casting. You communicate as a great actor and I like, I commend you on it.
16:40 Speaker 02 Well, I'm very, I'm really flattered. I like, I'm glad you feel that way. But when you're, you know, what I learned and what I saw and when I saw the rushes and I saw the cuts.
16:49 Adam Friedland? Yeah.
16:50 Speaker 02 What those guys, the way those two work, and I hope I'm not giving any industry secrets away here, is they wrote the script together. So they've been living this thing for seven years. But here's what actually happens when you're shooting. Ronnie goes into the production tent downstairs, wherever the hell it is. Different sets in Tokyo or in New York or whatever. But he's in Josh's ear with an IFB. And...
17:16 Speaker 02 He's the editor, well, they cut it together, but he's kind of the lead editor guy. And, you know, I'm not used to being told what to do, so obviously, I learned right away that a film set is not a democracy. Cause I'd say to Josh, "What the fuck, I got it, we're done, we've shot it ten times. I nailed it already." He said, "You haven't nailed it till I say you've nailed it. Do it again." And then after multiple takes of the script, he'd say, "Okay, let's improvise. We got a cadence going here with Timmy, or with Brett, you know, whoever. And let's pick up on what you said on that last one, or what he said on that last one." But when you see the final edit, what they did is they took some of the script,
17:58 Speaker 02 and some of the improvisation, and they cut it together into what I think is masterful.
18:03 Adam Friedland? They captured the moment.
18:04 Speaker 02 And sometimes those two dudes don't agree, and they take it outside. Because you don't want to be fighting in front of the cast. But, you know, they just don't agree, and it's three in the morning, and they're going at each other, and they come back with a solution.
18:16 Adam Friedland? It's an intense, like, environment.
18:18 Speaker 02 It's a fucked up creative process that I think you can't emulate any other way than just doing it. You know, shooting it.
18:28 Adam Friedland? In some ways, Josh was your first boss since Nabisco. Is that right? You haven't had a boss since then.
18:36 Speaker 02 That's a great analogy.
18:37 Adam Friedland? I've, listen, I've studied you.
18:39 Speaker 02 No, I've never had a boss, except back then. I've only been fired once, and I've never worked for anybody. But I did work for Josh Safdie, I actually was an employee. That's how I felt. And he's a reasonable guy, but
18:53 Speaker 02 the hours we worked, the hours, the immense hours, like eighteen, twenty hours.
18:59 Adam Friedland? You might get them in trouble with the union, I don't know if you're allowed to say that. They worked regular hours and...
19:06 Speaker 02 Yeah, yeah, yeah, regular hours, but when we were shooting the...
19:09 Adam Friedland? Jimmy Hoffa might break your knees.
19:11 Speaker 02 When we were shooting the spanking scene, that happened at about 4 a.m. And it was intense, and it was, it was really intense, and it... We didn't get it at the beginning, the cadence wasn't right, the vibe wasn't right, the room wasn't right, whatever the hell it was. We just kept going, and...
19:31 Speaker 02 We had a stand-in ass, but...
19:34 Adam Friedland? A stunt ass.
19:35 Speaker 02 A stunt ass.
19:36 Adam Friedland? Yeah, yeah.
19:37 Speaker 02 But Timmy wouldn't, didn't want the stunt ass. He wanted to immortalize his ass.
19:42 Adam Friedland? It's incredible.
19:43 Speaker 02 And I said, "Look, I gotta hit your ass with this." Because the fake ping-pong paddle broke. So now we're dealing with a real paddle, stiff wood. And Josh is saying, "Look, I want to hear that smack-a-tino. I want to hear an explosion of ass here."
19:58 Adam Friedland? Yeah. I mean, there are women all over the country. They're very jealous of this.
20:02 Speaker 02 And I'm telling you, I wound up like a baseball bat and hit him. And...
20:06 Adam Friedland? You fucked his ass up.
20:07 Speaker 02 His ass had imprints of the paddle rubber on it.
20:10 Adam Friedland? Timothy's ass, that's a hot ass right now.
20:12 Speaker 02 It's a hot ass, but it was very hot after that.
20:14 Adam Friedland? You're doing a little bit of a brag right now, I think.
20:17 Speaker 02 I am, but I'm telling you.
20:18 Adam Friedland? All 12 ladies watching this are gonna be very jealous.
20:22 Speaker 02 I'm very proud of that scene, but when I got back...
20:25 Adam Friedland? Did he say anything about me the whole time you were working with him?
20:28 Speaker 02 I don't recall.
20:28 Adam Friedland? Okay.
20:29 Speaker 02 No, I don't recall. But when I got back to Casatua, I was staying there down on South Street in New York. It was 7:00 a.m. and I was fried. I mean, I was just wired, you know?
20:40 Adam Friedland? Yeah.
20:41 Speaker 02 And I said to the maître d', "Look, I want some scrambled eggs and some, you know, smoked salmon and a bottle of 2022 Boulainet Montreux." He said, "It's breakfast. What are you, nuts?" I said, "Well, it's not breakfast for me. I've been awake for two days, so I want the bottle." And I drank the whole, I put a straw in it. And I called my wife up and said, "Do you want some Montreux?" She said, "It's 7:30 in the morning." So it's a guilty pleasure, but that's how I unwound that day. And I'll never forget it. It was a great experience, the whole thing.
21:15 Adam Friedland? So you're, you just played music for us. You're a guitarist, you're a photographer. You're now an actor. You are a documentarian. You've made a documentary film before, in your early years.
21:27 Speaker 02 Yeah.
21:28 Adam Friedland? You are an entrepreneur. You are a kind of a, kind of a elder statesman of business in, you know, North America, I'd say. Would you consider yourself a modern-day Renaissance man? Or like a Da Vinci of sorts?
21:43 Speaker 02 You know, the...
21:46 Speaker 02 The journey of entrepreneurship is not a destination, it's a journey. And the reason you would want to do that now, and I tell everybody this, because I teach entrepreneurship at places like MIT and Harvard now. It's not about the grade of money, because you just listed off a bunch of things I couldn't do if I wasn't free to do them.
22:04 Adam Friedland? That's what money buys you, the time.
22:06 Speaker 02 It's not about the grade of money. I don't need more money, I need more time to pursue the things that really interest me. And so, what you find out is that if you're motivated by money as an entrepreneur, you will never get it.
22:22 Adam Friedland? Right.
22:22 Speaker 02 You have to be so insanely passionate about what you're doing, and all the competitors are pursuing you. And then one day you wake up and you're filthy rich. That's how it happens. Every guy I've ever talked to that's had a huge exit has said, "I never saw it coming." Because I was just myopically focused on my business. It was the same for me, and then one day we were acquired for 4.2 billion. And then, what I found was amazing, for all of us, the nine core people, we didn't know what to do the next day, we just went back to work.
22:52 Adam Friedland? Yeah.
22:53 Speaker 02 I mean, that's all we know.
22:54 Adam Friedland? Yeah.
22:55 Speaker 02 And so, we just kept doing other things, and I've done many other successes and failures in that period. But, you know, it's allowed me to do some really interesting things. And that's what keeps me going, and, you know, pursuing stuff.
23:14 Adam Friedland? Uh huh, yeah.
23:14 Speaker 02 It's very interesting.
23:16 Adam Friedland? Yeah, yeah, but you have to be able to afford the time, right?
23:19 Speaker 02 The time is the problem, you can't buy any. And that's the one thing, no matter how rich you get, you can't buy. You can't buy health, and you can't buy, you know, you can't be guaranteed health. You've got to be very careful. And I certainly think about that a lot. And I do try and use my time very carefully, because I don't have to do anything. So, I'm kind of, I'm here because I want to be here, and so I block this because it's...
23:44 Adam Friedland? You're a big fan.
23:45 Speaker 02 Yeah, well, also, I just, you guys do interesting work. I've seen some of it, and it's interesting. I thought this could be good. So, you know, that's why. And then, I'm going to do some other crazy shit tonight, and...
23:59 Adam Friedland? What's that?
24:01 Speaker 02 I'm going to have a dinner with the auctioneer of the FP Journe Francis Ford Coppola watch, which I put on television about an hour ago.
24:10 Adam Friedland? Oh, wow.
24:11 Speaker 02 Yeah, it's probably the most coveted watch on earth. It's probably going to sell on Saturday for between three and five million dollars. I wanted to hold it in my hand before it went into a private collection for a generation. So I suggested we bring it to television.
24:25 Adam Friedland? Did you consider stealing it?
24:26 Speaker 02 Yeah, the problem with that is I know Journe, I'm wearing one of his watches. The thing about watchmaking, which I really learned as time passed, is collectors now covet the independent watchmaker. Journe is now considered a living Picasso. He is making only 900 watches a year. There are thousands of collectors around the world that want a Journe. But he personally decides who gets each piece.
24:56 Adam Friedland? Really?
24:57 Speaker 02 Yeah.
24:58 Adam Friedland? And they cost, what, over a thousand dollars probably? What's funny about that?
25:03 Speaker 02 Yeah, the secondary market would be in the millions. Primary, you can get one as inexpensive as 18,000, but you can't. I mean, that's the problem. The Elegant, which is the entry-level watch, sells for 18, secondary market's 158,000. And that's a beautiful piece. Very simple.
25:21 Adam Friedland? I want to try something, because this is like kind of a free education for me. Because I'm an entrepreneur of sorts. I don't think of myself as one. I'm kind of a bum.
25:31 Speaker 02 You're supporting yourself with what you do.
25:33 Adam Friedland? I have a staff now, and I...
25:34 Speaker 02 You have a responsibility.
25:36 Adam Friedland? Yeah, and they look up to me, and they see me as a friend more than a boss.
25:42 Speaker 02 I bet some of them think you're an asshole. That's probably true.
25:45 Adam Friedland? No, I think that they think... Well, okay. One thing that I've struggled with, and maybe you can, as an educational thing for the audience, you could kind of impart some wisdom on me, is firing. Like, I don't like... There is one individual who's not here today.
26:04 Speaker 02 Cause you whacked him?
26:05 Adam Friedland? No, because I, and I've, it's probably been a matter of three months that he's, should have been fired, but every time I get close, I just don't have it in me. So perhaps if we could like act it out, you could, we could like kind of, you could kind of show me, you could be me, I'll be him, and then you could kind of like, cause I really, I don't know how to do this. I called my girlfriend's dad and said, how do you fire?
26:30 Speaker 02 What's, what's his name?
26:31 Adam Friedland? Uh, Paul.
26:32 Speaker 02 Okay, so you're Paul.
26:33 Adam Friedland? No, no, the guy?
26:34 Speaker 02 Yeah.
26:34 Adam Friedland? Oh, uh, [BLEEP], yeah.
26:36 Speaker 02 So...
26:37 Adam Friedland? [BLEEP]. Hey, hey, Skip.
26:41 Speaker 02 Okay, so, listen.
26:43 Adam Friedland? He's not here right now also.
26:44 Speaker 02 You know, I get it, but I'm gonna give you, here's how it goes down. [BLEEP], you know,
26:50 Speaker 02 I want you to be happy. I really wanna be, I want you to be happy, and I have a feeling you're not happy. And the reason I feel that way is you're not with the team anymore. You're not on the same agenda, and that must be that you're not happy. Now-
27:08 Adam Friedland? I'm happy, I'm fine, I like it.
27:10 Speaker 02 Well, the team isn't happy with you, because they feel you're not happy. And I'm gonna make it very simple for you. We're gonna end our relationship today, but the good news is, I'm gonna give you a fantastic exit package, cause I want you to be fairly treated, that's number one.
27:28 Adam Friedland? How much?
27:29 Speaker 02 And number two is, you know-
27:31 Adam Friedland? How much is the exit package?
27:33 Speaker 02 I'm gonna pay you three months of your salary.
27:36 Adam Friedland? Okay.
27:37 Speaker 02 I don't have to, I could pay you six weeks-
27:39 Adam Friedland? To be a good guy, cause I'm a good guy.
27:40 Speaker 02 Listen, that's why they call me Mr. Wonderful.
27:42 Adam Friedland? Yeah.
27:42 Speaker 02 So, I'm gonna give you-
27:44 Adam Friedland? Do I call myself Mr. Wonderful?
27:45 Speaker 02 But what's important is that we, that we go our own ways now. I don't want you sitting around, in fact, I've cleaned out your whole place, there's a box outside on the street, it's waiting for you.
27:56 Adam Friedland? Yeah, okay.
27:57 Speaker 02 And, but I've, I got you a limo, the box is in the limo, and it's gonna take you wherever you want.
28:00 Adam Friedland? Okay, can I just do that right now? I swear to God.
28:04 Speaker 02 Yeah.
28:05 Adam Friedland? Yeah, I mean, you did-
28:06 Speaker 02 Well, that's how you do a fair, um-
28:09 Adam Friedland? A fair, yeah, a shit can. Okay, I, I mean, I'll be nice about it, but, okay, I mean, just give me a minute. I know we're pressed for time, but I'll just, I'll just get him out of here, cause this has been driving me nuts.
28:21 Speaker 02 Well, I think you gotta, you gotta, you gotta make a decision, that's my whole point.
28:25 Adam Friedland? Hey, hey. Hello? Hey, where are you?
28:32 Adam Friedland? Yeah, well, um, why aren't you here right now?
28:39 Speaker 05 Um, I have a family emergency.
28:44 Adam Friedland? It's a fucking, hold on one second. He bullshits the worst. It's the worst bullshit I've ever heard. Well. Wait, give me a second, yeah. Okay, well, you know, I gotta say, um, I'm starting not to, listen, it doesn't matter, but I don't, it's been a-
29:03 Speaker 05 My son is in the hospital right now.
29:09 Adam Friedland? He is?
29:11 Speaker 05 Yeah, he relapsed. Um, you know, I know that you know the issues, but he-
29:17 Adam Friedland? Is he okay?
29:18 Speaker 05 He relapsed, he overdosed, he's gonna be, he's not dead or anything, he's okay, but he is, um, it was pretty bad.
29:29 Adam Friedland? I'm sorry, dude, and since-
29:31 Speaker 05 I know.
29:32 Adam Friedland? Since your, since your wife, yeah, I know.
29:34 Speaker 05 Yeah.
29:35 Adam Friedland? He's got the same, because it's a disease, yeah.
29:39 Speaker 05 I know, and it's just like, it's happening again. And I just, I can't lose them both, and it's just, I'm sorry I didn't text you. I thought I did.
29:48 Adam Friedland? Well, here's what I'm gonna do. I can tell that you're not happy, and the team isn't happy with you.
29:57 Adam Friedland? Um, yeah, and what I'm gonna do is offer you a very generous package.
30:04 Speaker 05 Are you like, are you firing me?
30:07 Adam Friedland? What I'm gonna do is, I want you to be happy, so I'm gonna offer you three months of-
30:13 Speaker 05 Fine.
30:14 Adam Friedland? -your pay, and then, um, and then, uh, you're bought, I packed up a box and your stuff is outside right now.
30:22 Speaker 05 My son is in the hospital right now. And you're telling me I'm gonna lose my health insurance?
30:28 Speaker 02 Well, listen.
30:29 Speaker 05 That I get through this show?
30:30 Speaker 02 This is, this is, it's, business is-
30:34 Speaker 05 Are you filming this right now?
30:35 Speaker 02 No, I'm not filming this. No, I wouldn't, no, come on. No, no, I'm just saying, um, I gotta-
30:41 Speaker 05 Like a prank saying?
30:42 Speaker 02 But, no, no, I gotta go. It just, um, good luck with everything in three months and, uh-
30:48 Speaker 05 You put this out, I'm gonna sue-
30:50 Speaker 02 Okay, anyway, well-
30:52 Adam Friedland? Oh, man.
30:53 Speaker 02 That's, that's a horrible story if it's true.
30:56 Adam Friedland? If he made that up, he's a bad person, right?
30:59 Speaker 02 I don't know. I just, but you know-
31:01 Adam Friedland? I feel like an asshole right now.
31:03 Speaker 02 Well, I think, you know, there could be asshole factor six in you, I don't know.
31:07 Adam Friedland? Was it not the right time? Should I not have done it then?
31:09 Speaker 02 It, unfortunately, these two things are horrific. They're both bad. But, you know, there, there has to be some, there has to be an outcome. That's the whole point. Because it's, I don't think it's gonna get better for him. I mean, this is, this is, listen, my heart goes out to him if that, if that story's true.
31:26 Adam Friedland? Nah, I didn't know that at all.
31:28 Speaker 02 Well, do you know that?
31:30 Adam Friedland? Well, I know that there've been problems in the family and he is dealing with a lot.
31:33 Speaker 02 Well, that's, that's a very, very tough situation. I mean, I, I don't wish that on anybody, but-
31:38 Adam Friedland? Should I say sorry? Should I hire him back? I, I feel like I should.
31:41 Speaker 02 Um, why do you think it'll be better?
31:47 Speaker 02 No, but the whole point is, why is the original problem still, it's still gonna be there? Whatever it was. I mean, I don't know the details, but- Listen, you know, business is-
31:56 Adam Friedland? You're right. You know what you're talking about. You're right. Yeah.
31:58 Speaker 02 It's, it's kind of like you have to take care of the remaining employees. That's what matters.
32:03 Adam Friedland? Yeah.
32:03 Speaker 02 You could be more generous if that story's really true.
32:06 Adam Friedland? Maybe six months, or maybe a year, or maybe a raise? Maybe, maybe, well, okay, let's move on, because we have, we, this, I said-
35:22 Speaker 06 Hey. Listen, um, I know I'm not who you're looking for. I know I'm not the usual type of girl that gets the guy at the end of the movie. I know I'm definitely not Matcha Girl. But when I saw the words on your website that you made using Squarespace.com, it made me want to be wanted the way that you wanted Matcha Girl to be wanting you. Look, I know I'm a loser. I'm a freak. And I can't imagine why someone like you, who could make such an amazing website on Squarespace using their built-in tools like AI-assisted blueprint and search engine optimization and their...
36:05 Speaker 06 Oh, scheduling.
36:06 Adam Friedland? Yeah, their scheduling.
36:08 Speaker 06 Could ever want me. But just so you know, if you ever did, I'd love you. I'd love you until...
36:18 Adam Friedland? Yeah, yeah, yeah, sure. You wanna go?
36:21 Speaker 06 Oh.
36:21 Adam Friedland? All right.
36:21 Speaker 06 Okay. Yeah, yeah, thank you.
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37:00 Adam Friedland? As I'm saying, I'm a nascent entrepreneur. But like I have business partners that kind of engage in the business side. I get to focus on the creative. And I fancied myself a businessman for far too long. And I realized I got my shit handed to me too much. And then what's important is that I'm good at this part. And I have business folks that do the other part. So like, how would you, to an idiot, a real dumb dumb? Like, explain, like, what is like economics? Like, in your, like, and you're talking to a dumb guy.
37:35 Speaker 02 The thing about entrepreneurship is very binary. You either make money or you lose money. There's no gray. It's one or the other. And so you should put time into the equation. You say to yourself, I'm starting a business. And if I can't make money in 36 months, I'm going to take it behind the barn and shoot it. Because at that point, you've run out of an idea. That idea is not working. You weren't able to prove that you could acquire customers economically. The business is unprofitable and you're burning cash. And you're bankrupting yourself if you're borrowing money against your house or whatever it is.
38:13 Adam Friedland? No, we're doing good. We're doing.
38:14 Speaker 02 Okay, so the idea is that entrepreneurs fail sometimes. But they shouldn't spend all their time wallowing in failure. And entrepreneurs that are unsuccessful don't have the guts to take it behind the barn and shoot it.
38:27 Adam Friedland? Yeah.
38:27 Speaker 02 That's what you have to do. Bad businesses are like a cancer. They kill your time.
38:33 Adam Friedland? Yeah.
38:34 Speaker 02 So you gotta shoot it.
38:35 Adam Friedland? Yeah.
38:35 Speaker 02 That's it.
38:36 Adam Friedland? Yeah.
38:36 Speaker 02 And I've done that, you know, I've had good ideas, bad ideas, but I never, never let them spend. Like, these days, if I can't figure it out in 18 months, I shoot it.
38:45 Adam Friedland? This thing is, I mean, it's a good product. People like the product.
38:49 Speaker 02 But once you know it works, you gotta spend 110% of your time on it.
38:52 Adam Friedland? Oh, I'm married to this.
38:53 Speaker 02 Yeah, of course.
38:54 Adam Friedland? What do you do when you get in trouble from the lady? For working too much.
38:58 Speaker 02 Well, that's a big challenge for everybody, you know. You should basically set aside some quality time for me. I try and make it weekends. And I'm very fortunate, I can say, "Look, where does the family want to go this weekend? You want to go to Geneva, you want to go to Thailand, you want to go to Paris? Let's go. The ticket's on me. Spend the weekend together, and then after that, we all disperse again. Because I'm traveling all week.
39:21 Adam Friedland? Yeah.
39:22 Speaker 02 So, you know, it's quite, and lately, particularly on this Marty Supreme promotional tour, we're going everywhere.
39:28 Adam Friedland? Yeah.
39:28 Speaker 02 My wife Linda said, "I want to go with you to see what it's like." And she, after the first week, she went, "Wow. I don't want to get in another airplane." I said, "Well, we're just starting." Because you spend most of your time hopping cities.
39:40 Adam Friedland? Yeah.
39:41 Speaker 02 Sometimes three cities in a day.
39:42 Adam Friedland? You seem like, the, the, the concept of a businessman, like a successful person, I guess maybe it comes from movies, is that, that because they're making big bets, and they're like, there's a, there's a rush coming from it, that they also have other, like, vices. But you seem like relatively well-adjusted in your life.
40:01 Speaker 02 What I try and do, and not everybody has vices, but my, my routine is, I get up at five. In my, well, I live in Miami, I live on the beach, and we have a twenty-two mile boardwalk.
40:12 Adam Friedland? Fabulous.
40:13 Speaker 02 So, when the sun rises at about, so at five to six, I'm kind of listening to all the news feeds, because I do a lot of live TV during the day. There's usually five news stories worldwide. I listen to them. You know, the, the outlets I listen to, I try and get balanced. BBC in London is very good. Al Jazeera, Fox, CNBC, BBC in Canada, because a lot of stuff going on between.
40:38 Adam Friedland? You guys have a BBC too?
40:40 Speaker 02 No, BBC is, is England, but CBC is Canada.
40:43 Adam Friedland? CBC, yeah, CBC.
40:44 Speaker 02 But the point is, they all have the same five stories with a different tilt on it. So by the time I'm finished, like, forty minutes of that stuff, I've got a pretty good idea of what's on the, on the plate for the day. Then I get on the bike, and I ride for about an hour and twenty minutes with thousands of other bikers as the sun is coming up. There's only bikes and dog walkers, that's it. Then I go to the gym for twenty minutes. I don't eat breakfast, so I fast for sixteen hours a day, and then I eat at two o'clock. My only, I don't take drugs, I don't smoke. My only vice is wine. I like wine.
41:14 Adam Friedland? Really?
41:15 Speaker 02 So, I have to limit myself, you know, I don't drink till six o'clock, I have a glass of Montrachet. The thing about wine... The problem with wine is if you drink it before you go to bed, you don't sleep well.
41:28 Adam Friedland? Yeah.
41:29 Speaker 02 If you can get seven hours of sleep a night, you feel amazing.
41:33 Adam Friedland? Yeah.
41:33 Speaker 02 You know, don't eat shit food, get some exercise, and don't drink too much.
41:39 Adam Friedland? Yeah.
41:39 Speaker 02 So that's the problem, and that's where I, you know, that's my advice.
41:43 Adam Friedland? And be happy.
41:44 Speaker 02 Yeah, you know, the thing is, the key is-
41:47 Adam Friedland? Are you a happy person?
41:48 Speaker 02 Yeah, I'm pretty happy.
41:48 Adam Friedland? Yeah, you seem like it.
41:49 Speaker 02 I should be drinking at breakfast.
41:51 Adam Friedland? Hell, yeah.
41:51 Speaker 02 That way I'd have plenty of time before I went to bed.
41:53 Adam Friedland? Yeah, yeah, yeah.
41:54 Speaker 02 Trying to convince my wife of that, let's do some more Montreche in the morning with eggs.
41:58 Adam Friedland? Well, I could talk to her. At your level of elite entrepreneurial, like, business people, you must have met some real freakazoids that, uh-
42:08 Speaker 02 Yeah.
42:09 Adam Friedland? Outside of the boardroom.
42:11 Speaker 02 Well, where I see the guys from other planets is in the technology deals I invest in. The programmers, the coders, the firmware developers.
42:20 Adam Friedland? And what are they doing, like?
42:21 Speaker 02 They're, they're just eclectic dudes.
42:23 Adam Friedland? Sex.
42:24 Speaker 02 I mean, the really, the really good ones are, the really great engineers are not normal people. They're just-
42:30 Adam Friedland? Yeah, yeah.
42:31 Speaker 02 -unusual people. And they have the ability to be extremely focused on the signal of the work they're doing, and they don't let noise get in the way. They're, they're very eclectic, and I've, I've been working with guys like that and women like that for 20 years.
42:44 Adam Friedland? Yeah.
42:45 Speaker 02 So, the guys that wrote Mist, it's a title from way back that became very famous. Five guys in a house, they all had Ferraris.
42:53 Adam Friedland? Wow.
42:53 Speaker 02 Using unusual, they were unusual, but they wrote this software-
42:59 Adam Friedland? Unusual how?
43:00 Speaker 02 Well, you know, I don't, I don't wanna say, but they, they were, they were on the edge.
43:04 Adam Friedland? What?
43:05 Speaker 02 Yeah, they're on the edge.
43:06 Adam Friedland? So, uh-
43:06 Speaker 02 And they were, but they wrote amazing code, and I have to go out there and get them to finish it on time so we could ship 12 million copies to Walmart.
43:13 Adam Friedland? And they keep trying to pull you into a cuddle puddle.
43:15 Speaker 02 Yeah, but you know, the thing is with coders, they don't, they never wanna stop. They just wanna make it better and better, but at some point you have to- Cut the version and ship it.
43:23 Adam Friedland? Yeah, yeah.
43:24 Speaker 02 But I did that my whole life, and so I've got a pretty good respect for what they do.
43:27 Adam Friedland? Uh huh.
43:27 Speaker 02 And that was one of our competitive advantages. Developers like to work for me because I gave them a lot of slack on the creativity, but was able to manage their time and say, "Look, we gotta ship it next month."
43:38 Adam Friedland? Yeah.
43:39 Speaker 02 It's gotta ship.
43:40 Adam Friedland? Yeah.
43:40 Speaker 02 And because you're trying to fill shelves for holiday and whatever else. But, and I still do that to a certain extent, but I'm not an operator anymore, I'm just an investor.
43:48 Adam Friedland? When you see, like in New York City, when you see someone on the street, like a homeless person, like what do you make of the, what's your, what's your whole take on that?
43:57 Speaker 02 It's sad, but usually it's mental illness.
43:59 Adam Friedland? Yeah.
43:59 Speaker 02 That's what it is. And we, our society has a very hard time.
44:02 Adam Friedland? You shouldn't tell them to take it outside, it's kinda inhumane.
44:05 Speaker 02 It's, you look at other societies, like Asian societies, for example, or even, even in Europe, in Switzerland, they covet the elderly.
44:17 Adam Friedland? Yeah.
44:17 Speaker 02 They, they want to, to bring them into their homes and they, they keep their grandparents around because that's how the family values work. We don't have that in North America.
44:26 Adam Friedland? I feel like in, like the future, like, have you seen the show Mad Men?
44:31 Speaker 02 Yeah, of course.
44:31 Adam Friedland? Like, there's a, you remember they're going for a picnic?
44:34 Speaker 02 Yeah.
44:34 Adam Friedland? And then they shake out all their garbage into a field and you're like, "Oh, they didn't know what littering was." I feel like in the future, they'll look back in the, at us and they'll be like, "You just walked past a guy just suffering and dying on the street?"
44:46 Speaker 02 Yeah, so there's homeless in every society, but usually if it's mental illness, it's being supported by a family somewhere, so there's less of it. Certainly, the Asian countries are the same.
44:57 Adam Friedland? Can we do a thought experiment?
44:59 Speaker 02 Sure.
45:00 Adam Friedland? Okay, you go to bed, Miami, beautiful life, beautiful house, you're Mr. Wonderful. You open your eyes, you are, you have zero dollars. And you go around, you're like, "I'm Mr. Wonderful." People are like, "I've never heard of Mr. Wonderful," okay? What do you do? Seriously, the first day-
45:17 Speaker 02 Well, maybe that'll happen to me in a dream, you never know.
45:19 Adam Friedland? But I'm saying, let's, a thought experiment, you wake up, you're on the street, and you have zero dollars, what do you do your first day to, to get back on your feet? Make money?
45:29 Speaker 02 Yeah, I would probably go be a laborer as I did when I was young. I was a bricklayer and then I washed dishes.
45:35 Adam Friedland? But you can't really go, you can't really go up that way, right?
45:38 Speaker 02 No, no, but you have to get some cash. I mean, you've gotta be pragmatic. You know, you've gotta get some clothes, get some cash.
45:45 Speaker 02 I would probably go and use my skills in photography and, you know, find a job in doing social media or something because that's a growth area. But you gotta start at the bottom again and, you know, basically, there's a lot of work for people that wanna work. Maybe it's in the field, or maybe it's, you know, in service industries. They don't wanna do that, though.
46:09 Adam Friedland? Yeah. How long would it take you to get a million dollars from zero? If, just a thought experiment. From that circumstance, no one knows who you are. You're not a star of a screen and
46:19 Speaker 02 Yeah.
46:19 Adam Friedland? And, uh, small
46:21 Speaker 02 I think I could do it again.
46:23 Adam Friedland? You think? Three months, you get a million?
46:25 Speaker 02 I don't think if I, I'm not sure I could do it in, uh, in three months, but
46:28 Adam Friedland? I would assume three weeks.
46:31 Speaker 02 You know, the way, the way you, you make a million dollars is you don't buy shit. Like, you actually have money to invest.
46:38 Adam Friedland? Really?
46:39 Speaker 02 That's how I figured it out. Took me a while to figure it out. You know, I was able to make a million when I was pretty young by, by just, I had, you know, when you go into someone, go into your own closet and look at all the shit you bought over the years you don't wear. I mean, that's such an easy one to see.
46:56 Adam Friedland? But you're a, you're a, you're a dandy.
46:58 Speaker 02 No, I, I can, I can afford to
47:00 Adam Friedland? But you can afford it.
47:01 Speaker 02 Yeah, I can afford to get great clothes now and I have a lot of fun, you know, between the different brands. Right now, I'm working with Dolce, they're doing
47:07 Adam Friedland? Really?
47:08 Speaker 02 That's because of Marty Supreme.
47:09 Adam Friedland? Give it up for that.
47:10 Speaker 02 Dolce is doing, thank you, thank you. What I like about
47:14 Adam Friedland? That's the weakest applause ever.
47:16 Speaker 02 Well, you know, what the hell, it's great. But they are working with material and designs from the 30s and 40s, which kind of fit the whole Marty Supreme vibe.
47:25 Adam Friedland? Wow, yeah.
47:26 Speaker 02 So for the, I've got some very crazy shit coming for the premieres in New York and, uh, LA.
47:33 Adam Friedland? No. Like Lady Gaga level?
47:36 Speaker 02 I think I might beat her on these.
47:38 Adam Friedland? You're gonna wear meat?
47:39 Speaker 02 I should wear meat, but I've got an amazing jacket from sort of Louis XIV kind of vibe.
47:45 Adam Friedland? Whoa. I love that for you. That's actually pretty cool.
47:49 Speaker 02 It's definitely me.
47:50 Adam Friedland? Yeah, yeah, that's you. That is wonderful, yes.
47:52 Speaker 02 It's a wonderful kind of, you know, anyways, it's fun and I bring it home and my daughter and wife just go out of their minds when they see this stuff.
48:01 Adam Friedland? Your wife gets turned on a lot of the time.
48:03 Speaker 02 Well, I remember when I bought my first Porsche, I collect Porsches and, you know, I drove it home. It was a...
48:10 Adam Friedland? 911?
48:10 Speaker 02 Yeah, it was a 911 turbo convertible Cabriolet.
48:13 Adam Friedland? Woo!
48:13 Speaker 02 Stick shift. And all she said to me was, "Oh, great, another bald asshole in a Porsche."
48:19 Adam Friedland? They don't understand how cool, cool stuff is.
48:22 Speaker 02 I love that car and I like the new Porsches. I got the 50th anniversary. These cars are amazing. You know, German precision, all that stuff.
48:31 Adam Friedland? It's like a watch.
48:31 Speaker 02 I might put 1,000 miles on it a year. I don't drive it very often, but I like to just look at it.
48:39 Adam Friedland? Come on, dude.
48:40 Speaker 02 Yeah.
48:40 Adam Friedland? Why don't you just look?
48:41 Speaker 02 Well, you think about a car.
48:42 Adam Friedland? I'm a young you.
48:43 Speaker 02 Watches are easy to collect because you can actually store them in a bank vault, but cars, you gotta get a garage, climate-controlled facility, tricklers and all. It's complicated.
48:53 Adam Friedland? Yeah, it's a lot of headache.
48:54 Speaker 02 Insurance is crazy.
48:55 Adam Friedland? And the maintenance, yeah.
48:56 Speaker 02 Nuts, nuts.
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52:35 Adam Friedland? Use code TAFS at monarch.com in your browser for half off your first year. That's 50% off your first year at monarch.com with code TAFS. Alright, that's the last ad of the year. That's the last ad of the year. You have a really interesting background, like in childhood. And I wouldn't have expected, you know, like I kind of knew you from TV. I'm like, "Oh, this guy's like, I don't know, blue-blood, like Wharton boy." But you lived, you were born in Canada, obviously.
53:06 Speaker 02 Montreal, moved to Champagne, Urbana, outside of Chicago in Illinois. Went to, you know, school there, Bottonfield, I'll never forget it. I lived, Bottonfield School, I don't even know if it's still there.
53:23 Adam Friedland? But you lived in Cambodia as well, before the Khmer Rouge?
53:27 Speaker 02 Yeah, after that, when my stepdad, my original dad died, my stepdad was graduating from the University of Illinois and he became a PhD in management. And he got a job with the ILO, the United Nations. And we traveled every two years. He worked on infrastructure projects like water and highways.
53:46 Adam Friedland? He was a spook. Sounds like a spook to me.
53:48 Speaker 02 Well, he did a hell of a job for the UAE. He was there when the founder was there and that's how I got my residency there. He helped get the water system going for those guys.
53:57 Adam Friedland? Now look at them.
53:58 Speaker 02 Yeah, they're doing okay.
53:59 Adam Friedland? They're doing alright.
54:01 Speaker 02 Yeah, they actually were pretty smart about how they made that country.
54:04 Adam Friedland? You met Haile Selassie as a kid?
54:06 Speaker 02 I did.
54:07 Adam Friedland? And is it true, is he Ja?
54:11 Speaker 02 He was, he was.
54:12 Adam Friedland? Are you Rastafarian kinda guy?
54:14 Speaker 02 Yeah, he, well, he is the leader of the Rastafarians.
54:17 Adam Friedland? Yeah, I know.
54:18 Speaker 02 He also, I met his lion cubs. I met Paul Pott, who went nuts and killed everybody in Cambodia.
54:24 Adam Friedland? What are you, James Bond?
54:26 Speaker 02 It was just random. I mean, you know, the expats would always get together at these cocktail parties and they would throw them at the palace. And, you know, the ILOers would bring their kids and that's how I met him, I just.
54:37 Adam Friedland? And you played poker against a guy with an eye patch?
54:39 Speaker 02 Well, I met, I met Si Anuk too. I mean, that was when the.
54:43 Adam Friedland? Met who?
54:44 Speaker 02 Vietnam War was spreading into Cambodia.
54:46 Adam Friedland? Why, everywhere you go, war follows?
54:48 Speaker 02 It was tough. I mean, that was tough.
54:50 Adam Friedland? You're the angel of death, Kevin.
54:53 Adam Friedland? Wait.
54:54 Speaker 02 But, you know, I've been to some interesting places.
54:56 Adam Friedland? So you're raised by your stepfather primarily?
54:58 Speaker 02 Yeah, he was very pragmatic with me.
55:00 Adam Friedland? And your, your parents split up after you moved or before?
55:04 Speaker 02 No, my parent, my parents, my original father, they got divorced and then he died, actually, when he was 37.
55:12 Adam Friedland? When did he die? When you moved or around the time?
55:15 Speaker 02 No, we, he had, they were divorced already. My mother was now, you know, starting dating, I guess, my stepfather, but then he passed away, my original father, and then they moved to finish off George's PhD. That's what happened.
55:33 Adam Friedland? And did you, you didn't get a chance to say goodbye or?
55:36 Speaker 02 I did, I knew, I, you know, I spent weekends with him, but one day he was just gone. It was tough. My brother's two years younger, so it's really hard on him. That was difficult. But, you know, when I started moving every two years, I thought everybody lived that way, but it's not true.
55:50 Adam Friedland? No.
55:50 Speaker 02 But it ended up being a huge advantage for me because I've been to every culture in the world.
55:54 Adam Friedland? Yeah.
55:54 Speaker 02 So, you know, Iceland and Norway and France and Switzerland and Germany and Japan and Ethiopia, all of those places.
56:02 Adam Friedland? Yeah, and another thing is, well, a funny thing, correct me if this is wrong, but your stepfather at the end of high school asked you what you wanted to do and you said, "I want to take photographs of hot chicks."
56:16 Speaker 02 He said, "You're not good enough."
56:18 Adam Friedland? That's so us, by the way. That's awesome. That is the most awesome answer I've ever heard.
56:24 Speaker 02 And he said, "Look, you're not good enough. You'll starve to death. Why don't you just take a couple of years off and go get a business degree? Then you can figure out what to do." He was right. But I went right back into photography. I founded a company called Special Event Television. We did all the hockey programming on Saturday nights for the original six teams.
56:39 Adam Friedland? And you developed the technology for like digital graphics.
56:44 Speaker 02 Yeah, we did that. That was that turned into Learning Company. There was a bunch of things that happened in that journey. And you just don't know what's going to happen when you start a company. But we did Don Cherry's Grapevine. The original six was another format we owned. I didn't know what a television format was, but I owned it. And so somebody came along and said, "I want to buy it." That was the first exit we had. We took that money, started the Learning Company, and the rest is history.
57:09 Adam Friedland? Yeah.
57:11 Adam Friedland? Another surprising thing about you is that you, you know, I'm old pinko glasses, New York Jew over here. I would assume like, I would never have assumed that you'd be an environmentalist. That you studied environmental studies. You made a documentary.
57:27 Speaker 02 Yeah.
57:27 Adam Friedland? And you happen to be one to this day?
57:30 Speaker 02 I was one of the first cohorts with Sally Lerner and Reg Mikulakowski were the two of them. They founded it in the architecture department. And but what Sally told me, which I'll never forget, she said, "You know, Kevin, you're, you should pursue entrepreneurship. You should go start a business because, you know, this, you don't look to me like a guy who's ever going to keep a job. You just, you know, you just don't know how to work for anybody. And it's, it could be bad, it could be good. But, but she was one of the ones that really edged me on. And I'll never forget that. It was, it was, because she was right. I mean, in the end, I never was able to hold down a job for anybody. I never will.
58:14 Adam Friedland? Tell us about the cat food.
58:15 Speaker 02 Yeah, that was a summer. I had to have a summer job. And I worked for a guy. But that ended up being a very important lesson because he took me to show how cat food was made. And it's just two engines. It's Sea of Japan tuna, the belly. That's for the fish protein. And the other is chicken faces and beef faces and all the parts that we don't eat of a cow. And they get sort of melted into a mush with papaya juice. And then squeezed out and that paste is the protein that is
58:45 Adam Friedland? Chicken McNuggets at McDonald's.
58:47 Speaker 02 Well, these are for cats, but so, but think about the idea. It's either Sea of Japan tuna on this side or the chicken faces on the right.
58:57 Adam Friedland? Sounds nicer, the tuna.
58:59 Speaker 02 Yeah, 15 years later, I'm sitting with my partner at the learning company. We're buying all these software companies with their developers making educational software. And the only two things we're doing is math and reading scores. We're doing hundreds of millions of dollars of sales advancing math and reading scores.
59:15 Adam Friedland? Yes.
59:16 Speaker 02 And I said to Mike, let me tell you this story about cat food. And I said, why don't we fire all the developers that we don't need and just have one chicken face team and one Sea of Japan tuna team? The Sea of Japan tuna does the reading software. The other guys do the math. And then all we do is take the titles because when you make cat food, you add bacon bits or little egg bits or, you know, and you call it, you know, souffle or whatever. But it's just the same paste. We did the same thing. We took, we licensed, you know, characters from Disney and characters from
59:55 Adam Friedland? Mattel, right?
59:56 Speaker 02 Yeah, Big Bird. We had all these titles. And we pay a royalty on it and our cost of development dropped by 30%.
1:00:02 Adam Friedland? But didn't you try to rebrand the cat food and then they said, would you eat it?
1:00:08 Speaker 02 Yeah.
1:00:08 Adam Friedland? That's what I was asking.
1:00:09 Speaker 02 I did have to eat it in front of the sales force, but apparently that's sort of like a hazing thing they did at that company.
1:00:14 Adam Friedland? Really?
1:00:15 Speaker 02 They made the young guy eat the food, and I knew how it was made, so it really made me sick.
1:00:19 Adam Friedland? Yeah, yeah. I threw it in my shoes. And then you were like, "I'm not gonna have a boss ever again."
1:00:23 Speaker 02 (laughing).
1:00:24 Adam Friedland? And it's kind of for a good reason.
1:00:25 Speaker 02 Well, it was an important lesson. I think you learn these things in life, and they come back and they're very good for you later. That's the whole idea.
1:00:32 Adam Friedland? Yeah.
1:00:32 Speaker 02 But, that was an important lesson, the two engines of protein. Because that changed the outcome of the learning company a big way.
1:00:40 Adam Friedland? I wanna talk about your turn into entertainment.
1:00:44 Speaker 02 Yeah.
1:00:45 Adam Friedland? I mean, like, I'm a comedian, I've gone on the road, I've watched thousands of hours of Shark Tank. It's just the best show. And like, you are just a fucking hit, you know that.
1:00:58 Speaker 02 Well, it's been on for seventeen years, we're shooting our eighteenth season. I actually have a theory about why that happens. The real stars, and the reason people keep watching it, is every time someone walks through those doors, they've never seen that product or service before. They can't believe someone else thought of it instead of them. It's, "Why didn't I think of that?"
1:01:20 Adam Friedland? Yeah.
1:01:21 Speaker 02 Because half of these things turn into huge successes, the other half go to zero.
1:01:25 Adam Friedland? Yeah.
1:01:25 Speaker 02 But, every once in a while, you get some crazy idea that ends up being fucking huge.
1:01:32 Adam Friedland? Yeah, yeah.
1:01:32 Speaker 02 And we've seen it happen.
1:01:33 Adam Friedland? You missed on that Ring door thing, you guys.
1:01:35 Speaker 02 Ring was huge, Cat DNA was huge.
1:01:39 Adam Friedland? What's that?
1:01:39 Speaker 02 Wicked Good Cupcakes, it was called Base Paws, it was a monster hit.
1:01:43 Adam Friedland? Cat DNA?
1:01:44 Speaker 02 Cat DNA. You stick a Q-tip up the cat's ass, you send it in, and it tells you what to feed it to extend its life by thirty percent.
1:01:52 Adam Friedland? That's a dog, that's not a gem. What's your thing, a dog or a gem?
1:01:56 Speaker 02 No.
1:01:56 Adam Friedland? A dog or... A dog or a business dog or a business gem?
1:02:01 Speaker 02 Well, I'd say, "Look, it's a howling dog from hell."
1:02:05 Adam Friedland? That sounds like the dumbest idea for anything.
1:02:08 Speaker 02 But it's not.
1:02:08 Adam Friedland? That pisses me off that that's successful.
1:02:10 Speaker 02 Yeah, but, you know, I've seen so many pitches now, I kinda have an idea what's gonna work and what isn't.
1:02:15 Adam Friedland? I like when you're mean to kids.
1:02:18 Speaker 02 I don't like kids.
1:02:19 Adam Friedland? Yeah, yeah, when they're like, "I'm three years old and I have a business." And you're like, "You're an idiot." Get off of the screen.
1:02:26 Speaker 02 The way I get out of that problem is I say to the parents, "I'll invest in the three-year-old if you take him out of school for the rest of his life."
1:02:32 Adam Friedland? Yeah.
1:02:32 Speaker 02 So that he can work for me full-time.
1:02:34 Adam Friedland? Yeah, he shouldn't be going to school.
1:02:35 Speaker 02 I don't know why anybody would invest in a kid in high school. It's a gimmick. It's gotta wait till they graduate. And I don't do it. I think it's dumb. But, you know, it's TV, and so it happens.
1:02:45 Adam Friedland? You crush it on that. How much of Mr. Wonderful is a character? Because I'm meeting you right now, you seem like you're just a, like, calm, friendly, well-adjusted, zen-out dude.
1:02:56 Speaker 02 Well, I don't think you can...
1:02:58 Adam Friedland? And you're telling a baby that he should never work again.
1:03:01 Speaker 02 You can't, you can't...
1:03:03 Adam Friedland? You really, you turn it on.
1:03:04 Speaker 02 No, no, you can't fake it for seventeen years. You can't do that. That's who I am when it comes to investing. I scrutinize deals. I am not acting. I'm not faking it. That's, that's who I am. And you can ask the people I work with, my team, that's how I am.
1:03:18 Adam Friedland? Yeah.
1:03:19 Speaker 02 And so, you know, it's sort of like, it's, for me, Shark Tank, I don't see any cameras on Shark Tank, nor does anybody else.
1:03:27 Adam Friedland? Really?
1:03:27 Speaker 02 We've been doing it for so long. I mean, I, you know, it's just, bring it on, let's have a look at it. But if it's dogshit, I'm gonna say it's dogshit.
1:03:34 Adam Friedland? You, you, you tell the truth. That's, that's what you're known for.
1:03:37 Speaker 02 I think telling the truth is extremely helpful in the case of business, because you don't want them to waste the money. You want them to actually say, "Maybe it is dogshit if everybody won't invest." I find it very disingenuous when Barbara or Lori say, "Well..."
1:03:50 Adam Friedland? That pisses me off, too.
1:03:51 Speaker 02 "Oh, you're so nice, and I, I think you're wonderful. You should just go do what you do. You don't need any of us." What they're saying is, "Your product's a piece of shit, and I would never invest in it." I just say, "Your product's a piece of shit, and I'd never invest in it."
1:04:05 Adam Friedland? No, they're setting them up. They're gonna lose them money. By, like, gaslighting them.
1:04:08 Speaker 02 You know, Barbara's on this side, Lori's here, and I say, "What are you doing? You're lying through your teeth to these people."
1:04:13 Adam Friedland? Yeah.
1:04:14 Speaker 02 You're giving them such bad advice to tell them to keep going on this dogshit crap they have. Like, why? Why don't you just call it what it is, "Dogshit crap"?
1:04:21 Adam Friedland? Yeah.
1:04:22 Speaker 02 Do them a favor. Tell them the truth.
1:04:24 Adam Friedland? Because in reality, those people are gonna think that it's not dogshit crap, and it's gonna cost them time and money.
1:04:29 Speaker 02 It's so bad, I can smell the odor of dogshit off the product.
1:04:31 Adam Friedland? Yeah.
1:04:32 Speaker 02 Just from, I'm in the room, ten feet away, saying, "It's horrible. Shoot it."
1:04:36 Adam Friedland? It's like, it's, it's, they're being kind, but they're not being kind. In fact, you're being kind.
1:04:40 Speaker 02 Yes.
1:04:41 Adam Friedland? By telling that kid to kill himself.
1:04:42 Speaker 02 Thank you, finally, somebody realizes it.
1:04:44 Adam Friedland? Yeah, I mean, I do.
1:04:45 Speaker 02 Look at the, look at the heat I take from everybody. Oh, you're the mean shark, you're the bad shark. No, I'm not, I'm just telling you.
1:04:50 Adam Friedland? No, you're the star of the show. You're the star of the show. You sit in the middle.
1:04:55 Speaker 02 No, the point is, it's a piece of crap.
1:04:58 Adam Friedland? Yeah.
1:04:59 Speaker 02 It is.
1:05:00 Adam Friedland? And they're gonna waste their, their lives on it.
1:05:01 Speaker 02 And their parents' money.
1:05:03 Adam Friedland? And their parents' money. Yeah, yeah.
1:05:04 Speaker 02 Yeah, that's, that's the real problem.
1:05:06 Adam Friedland? Yeah, yeah. Do you respect people that just didn't have to work for it to have a lot of money? Or do you think that they're pussies? Or, sorry for saying that word. I don't know.
1:05:15 Speaker 02 Well, you mean, they've inherited it.
1:05:16 Adam Friedland? Yeah, are you like, you're a fucking liquid man?
1:05:19 Speaker 02 But let me tell you what happens.
1:05:20 Adam Friedland? You've grinded.
1:05:21 Speaker 02 Inherited wealth is generally dissipated within two generations.
1:05:25 Adam Friedland? Yeah, yeah.
1:05:26 Speaker 02 So, you shouldn't give your money to the idiot cousin. It's not a good idea. You, you, you know, if you have a business, nepotism destroys it. What you do is you put the kids at the board level and you hire professional managers.
1:05:40 Adam Friedland? Yeah.
1:05:41 Speaker 02 And that way, you can sustain the family for, you know, long after you're gone, as long as they don't try and run it. Most people can't do what their parents did.
1:05:49 Adam Friedland? Yeah.
1:05:50 Speaker 02 Sometimes.
1:05:50 Adam Friedland? It's like the Bush administration, right?
1:05:52 Speaker 02 It's, it's difficult.
1:05:54 Adam Friedland? Yeah.
1:05:54 Speaker 02 But, you know, you don't wanna, sometimes there's exceptions, but not often. And so, if you're gonna be an entrepreneur, it's better to try and do it in your twenties, when you can take a hit. You don't have a lot of responsibility, you don't have a family, you don't have a mortgage, just go do it. And in eighteen months, you'll find out if you can pull it off or not. And if you do, it sets you free.
1:06:12 Adam Friedland? Yeah.
1:06:13 Speaker 02 There's something wonderful about being able to do what you wanna do. And the only way in America you get there is you gotta be successful in the American dream.
1:06:19 Adam Friedland? There's a competitive element to business, right? You wanna win.
1:06:22 Speaker 02 Yeah, of course.
1:06:23 Adam Friedland? Right?
1:06:23 Speaker 02 It's a giant competition.
1:06:24 Adam Friedland? So, you have to fucking hate the other guy at some point, a lot of the time, right? Like, who, who's the biggest fucking fraud? Just name names.
1:06:32 Speaker 02 Well, I mean, we, I mean, you're talking about the other shark?
1:06:35 Adam Friedland? Just, no, no, not, no, but those are our friends, we love them.
1:06:38 Speaker 02 Well, no, I, but let me tell you how friendly I am.
1:06:40 Adam Friedland? Dude, when, when Mark, when Mark quit, you were, you were genuinely emotional.
1:06:44 Speaker 02 I think I can get Mark back on the show.
1:06:45 Adam Friedland? You're trying to get him back, you missed him.
1:06:47 Speaker 02 I am, I am.
1:06:47 Adam Friedland? That's your boy.
1:06:49 Speaker 02 Because I think we have a great dynamic.
1:06:50 Adam Friedland? You do.
1:06:51 Speaker 02 I'm teaching him, and he's learning from me, and it's fantastic.
1:06:53 Adam Friedland? Yeah, yeah. He's like the sensei and the student, yeah.
1:06:56 Speaker 02 And Barb, you know, he's my grasshopper. And Barbara, the only reason that she makes it to the set each year is I buy her a new broom. That's how kind I am.
1:07:07 Adam Friedland? You're keeping the band together. You're like Paul McCartney.
1:07:09 Speaker 02 Every year, brand new, the latest broom for the witch.
1:07:12 Adam Friedland? Mark is like John Lennon. He's up with Yoko doing heroin. You're like, just get to the studio. Let's make Abbey Road.
1:07:19 Speaker 02 Get back in the chair and let's get back to work.
1:07:20 Adam Friedland? I love it. So you're like the capitán a little bit.
1:07:23 Speaker 02 I like to think that way.
1:07:24 Adam Friedland? Yeah, yeah, I like that.
1:07:25 Speaker 02 Call me El Capitán.
1:07:26 Adam Friedland? This is cool for me, because I'm a massive fan. It's just cool to hear this.
1:07:30 Speaker 02 Look, I don't think of myself as the star of the show, because I know with certainty if we didn't have the pitches, there'd be no show. What we've learned is, what's really good now about Shark Tank is the 100-plus producers that after 17 years can curate great deals. They go out there, just like on American Idol. They listen to pitches, thousands of pitches, thousands of pitches. And the woman that's done it from the beginning is named Mindy Castings. I don't know what her real name is, but I call her that.
1:08:00 Adam Friedland? From The Office.
1:08:01 Speaker 02 And she has seen every pitch. Can you imagine that?
1:08:04 Adam Friedland? Holy shit.
1:08:05 Speaker 02 And then she says that one, that one, that one, that one. Then she sends it into the, you know, the editorial team that says it's appropriate. It isn't. But she has done such an incredible job with her team that that's why the show works.
1:08:20 Adam Friedland? I assume there's due diligence, though, after you make a deal.
1:08:23 Speaker 02 There is, afterwards, and there's also diligence before.
1:08:25 Adam Friedland? What's the craziest thing that's come out in due diligence, after making a deal with some...
1:08:29 Speaker 02 The guy was in prison.
1:08:30 Adam Friedland? The guy was...
1:08:32 Speaker 02 One of our deals.
1:08:33 Adam Friedland? They let him out of prison to do Shark Tank?
1:08:35 Speaker 02 No, no, he didn't tell the truth, obviously.
1:08:39 Speaker 02 He was a felon. That's not useful. You know, I think it's better to tell the truth.
1:08:44 Adam Friedland? Yeah, yeah.
1:08:45 Speaker 02 I'm not against felons. I think they've redeemed themselves. They've served their time.
1:08:48 Adam Friedland? That's what Miami's all about.
1:08:50 Speaker 02 Well, it was built on larceny. But the point is, you gotta disclose that. You have to tell.
1:08:58 Adam Friedland? You think Timothy would have fun on the show?
1:09:01 Speaker 02 I do, I do. And I think his, and his, I met many of his friends when we were shooting. I think he would have.
1:09:07 Adam Friedland? I've met him before. He's awesome.
1:09:09 Speaker 02 He's a great guy.
1:09:10 Adam Friedland? He's really cool.
1:09:11 Speaker 02 He's a, to me, he's a classic method actor, because he gets into the zone, and you shoot the scene, and then he checks out, and you know, he's quite, quite something.
1:09:21 Adam Friedland? What lessons did the other actors impart on you on set?
1:09:25 Speaker 02 Well, as you saw in the movie, there's a lot of interaction between a lot of people simultaneously in those big scenes in restaurants.
1:09:32 Adam Friedland? Kind of like Robert Altman, kind of, yeah.
1:09:34 Speaker 02 Yeah, and so it's a roaming camera and you do those sequences multiple times and you get new cadence of what the script is. There were some great people in that thing that really knew what they were doing and that made it easy for me.
1:09:46 Adam Friedland? Yeah.
1:09:47 Speaker 02 I mean, I thought probably by the fourth or fifth day I was into the kind of groove of how that, you know, Josh and Ronnie worked.
1:09:55 Adam Friedland? Did Gwyneth ask you for like tips for her Goop company?
1:09:59 Speaker 02 Actually, we met two years earlier on Shark Tank.
1:10:02 Adam Friedland? Really?
1:10:03 Speaker 02 She was a guest shark.
1:10:04 Adam Friedland? Yeah, because she's an entrepreneur.
1:10:05 Speaker 02 Yeah, she was, Goop.
1:10:07 Adam Friedland? Goop, yeah.
1:10:07 Speaker 02 Yeah, so the ladies.
1:10:09 Adam Friedland? The ladies love this stuff, yeah.
1:10:10 Speaker 02 You know, she's, that's a tough gig.
1:10:12 Adam Friedland? I don't even know what it is, yeah.
1:10:13 Speaker 02 And so we knew each other already, so it was very easy to roll into the husband-wife scene, it was very easy.
1:10:18 Adam Friedland? Yeah, you felt like husband and wife already from Shark Tank.
1:10:20 Speaker 02 Yeah, but a loveless marriage, she was a horrible person to me.
1:10:23 Adam Friedland? Yeah, you felt like she was a bad, she hated you.
1:10:25 Speaker 02 But you know, there was.
1:10:26 Adam Friedland? Did you feel like you were being when you were shooting a scene, like you were the guy?
1:10:30 Speaker 02 It was really interesting because it was easy to get into that character, you know. Milton in 1952, that was quite something. I didn't have a hard time becoming Milton, that was good. It was good for me.
1:10:44 Adam Friedland? Yeah, you killed it, dude. I mean, seriously, I'm genuinely impressed. Can I tell you what happened to me at the premiere?
1:10:51 Speaker 02 Sure, tell me.
1:10:52 Adam Friedland? We'll end on this, but this guy, I was with this guy there. I'm, Josh is on stage, he said, "I finished editing this last night, this is the movie, enjoy it, the lights are going down." I'm walking down my row and I have a pair of pants and they have a snap button on the back. There's a woman in the row, my pants brushed past her hair and her hair got stuck in my pants.
1:11:15 Speaker 02 Oh.
1:11:16 Adam Friedland? And then the lights are going down.
1:11:18 Speaker 02 And she's screaming.
1:11:19 Adam Friedland? And she's like, "Ouch." And then her friend, she was with her gay friend and he was like, "You're hurting her." And then, and then everyone on the other side of me was like, "Sit down, the movie's starting." So I'm like going like, "Sorry, sorry, sorry." And it was, and he's sitting there and he's just. Laughing in my face at it. And it was perhaps, that's so that's how I started. The movie started for me, actually.
1:11:43 Speaker 02 Oh, that's.
1:11:43 Adam Friedland? I was apologizing to a woman for her hair.
1:11:47 Speaker 02 Well, I think.
1:11:48 Adam Friedland? And I couldn't get it out.
1:11:49 Speaker 02 I think you deserve the abuse. I mean, you know.
1:11:51 Adam Friedland? What did I, it's not my fault.
1:11:53 Speaker 02 I don't know what kind of pants for those. That's crazy.
1:11:55 Adam Friedland? They were from Double RO.
1:11:57 Speaker 02 Oh, no kidding?
1:11:57 Adam Friedland? Yeah, it's a nice line.
1:11:59 Speaker 02 Yeah.
1:11:59 Adam Friedland? I wear a lot of, you know, I have it here.
1:12:02 Speaker 02 I see that.
1:12:03 Adam Friedland? Do you know Lifshits Ralph?
1:12:05 Speaker 02 Of course.
1:12:05 Adam Friedland? He's a good guy.
1:12:06 Speaker 02 I think the thing is, it's a shame that happened, but a little excitement doesn't hurt.
1:12:10 Adam Friedland? No, it's hilarious.
1:12:11 Speaker 02 But, you know, I was getting, I think you were at a screening where I had some friends and they were texting me during the, that's the first interaction.
1:12:18 Adam Friedland? We just saw the most Jewish man in the world.
1:12:20 Speaker 02 No, I think they said there's some asshole pulled up some woman's hair.
1:12:28 Adam Friedland? Kevin O'Leary, everybody. Give it up for him.
1:12:30 Speaker 02 Thank you, thank you very much.
1:12:31 Adam Friedland? This is gonna pleasure.
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