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On February 22, Shark Tank investor Kevin O'Leary aka Mr. Wonderful, reposted a part from his 10x Growth Conference interview on his official Instagram and X pages. The conference happened in 2021, where Kevin talked about cash flow in business and Bitcoin.
In the said clip, Kevin was seen sharing an anecdote from his own experience. He told the audience about how he lost money when he invested in a friend's business. He added that since then he had stopped investing money based on emotions, saying:
"I don't let emotion get in the way."
In the interview, he talked further about how cash flow and bitcoin are interrelated and how to ensure that investing in bitcoin while keeping the cash flow in mind was important.
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Mr. Wonderful shared his life experience to warn investors of bad investments.
More details on Shark Tank panelist Kevin O'Leary's investment in a friend's business
Reflecting on the time when his friend started a company, Kevin O'Leary said that when his friend had started a company, Kevin had invested $250,000 in it.
Two months later, the friend came back to Kevin asking for $500,000 more and said that he needed the money to make his tanking business work.
Kevin gave it to him because he was his friend, but his business went to zero in three months. He asked the audience to mourn the loss of that $750,000 by asking them to observe a moment of silence. He said:
"I'll never ever ever do that again."
He said since then he hadn't let emotion get in the way of his business. Fans of the Shark Tank fame flocked to the comment section to show support and affirm the fact that it was wrong to mix emotions with business.
Some even shared their own relatable experiences in the comments.
Shark Tank fame Kevin O'Leary's comments on the recent Doge cut-offs
In an interview published on February 18, by CNN, Kevin was seen actively speaking on Elon Musk's Doge cut-off strategy. He told the viewers that the reductions sanctioned by the government weren't enough and that they needed to cut more to ensure a smoother running of government agencies.
Giving an example of a tanking business, Kevin said that like one lets go of employees when necessary to save the business. He said:
"There's this concept in private equity—when you get a bankrupt company and you go in there, you cut 20% more than your initial read."
Holding the example, Kevin said that the government agencies were unstable and cut-offs were necessary to stabilize them.
For more updates on the ongoing season 16 of Shark Tank, fans can follow its official Instagram page-@sharktankabc.
