Full Send Podcast - Episode 135: Kevin O'Leary x Nelk Boys
Release Date: September 20, 2024
Hosted by the Shots Podcast Network and sponsored by Happy Dad Hard Seltzer, Episode 135 of the Full Send Podcast features an engaging conversation between renowned entrepreneur and "Shark Tank" star Kevin O'Leary and the Nelk Boys. This episode delves into a variety of topics, including watch collecting, investment strategies, experiences on "Shark Tank," and Kevin's candid political opinions. Below is a structured summary capturing the key discussions, insights, and notable moments from the episode.
1. Watch Collecting and Horology
Kevin O'Leary opens the conversation by sharing his passion for watch collecting, highlighting the artistic and investment value of horology.
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Dual Time Watches:
- Kevin emphasizes the practicality of owning multiple time zone watches.
"You gotta have two watches, otherwise you don't know what time it is. In New York, you got East Coast LA time, New York time on each wrist. That's how you do it." [03:05]
- Kevin emphasizes the practicality of owning multiple time zone watches.
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FP Journe Appreciation:
- He lauds FP Journe as the "Picasso of watchmaking," noting the brand's exclusivity and value retention.
"FP Journe is holding its value. Watches are down about 28% worldwide. Except Jorn. Jorn only goes one way up." [04:55]
- He lauds FP Journe as the "Picasso of watchmaking," noting the brand's exclusivity and value retention.
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Unique Collections:
- Kevin discusses owning rare and unique timepieces, including custom Rolex watches made for his "Shark Tank" team members.
"This watch is probably available right now for about 6k... it's a Founder series. This watch is priceless." [07:21]
- Kevin discusses owning rare and unique timepieces, including custom Rolex watches made for his "Shark Tank" team members.
2. Investment Philosophy and Entrepreneurship
Kevin offers profound insights into building and sustaining wealth, emphasizing disciplined saving and strategic investing.
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Saving and Investing:
- He advocates for consistently saving a portion of income and investing it wisely to accumulate wealth over time.
"If you just save 10, 15% of it by not buying shit you don't need and just stick it in an app... you'll end up being a millionaire." [19:00]
- He advocates for consistently saving a portion of income and investing it wisely to accumulate wealth over time.
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First Million Milestone:
- Highlighting the significance of making the first million, Kevin explains that it's often the most challenging financial milestone.
"Making the first million is the key to success... Once you have 5 million liquid in the bank, you're set for life." [25:05]
- Highlighting the significance of making the first million, Kevin explains that it's often the most challenging financial milestone.
3. Experiences on Shark Tank
Reflecting on his tenure as a "Shark" on the popular TV show, Kevin shares anecdotes and strategies that underpin successful investments.
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Criteria for Successful Pitches:
- Kevin outlines the three essential attributes he looks for in a pitch: clear articulation of the opportunity, execution capability, and detailed knowledge of business metrics.
"They can articulate the opportunity in 90 seconds or less, explain why you can execute, and know your numbers." [32:58]
- Kevin outlines the three essential attributes he looks for in a pitch: clear articulation of the opportunity, execution capability, and detailed knowledge of business metrics.
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Handling Emotional Reactions:
- He discusses the emotional toll on entrepreneurs who receive no deals, asserting that crying does not aid in securing investments.
"Crying does not help. It just doesn't work." [46:13]
- He discusses the emotional toll on entrepreneurs who receive no deals, asserting that crying does not aid in securing investments.
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Diversity in Investments:
- Kevin notes that 70% of his returns come from companies led by women, praising their understanding of risk mitigation.
"In venture investing, women are killers because they really understand risk mitigation." [40:12]
- Kevin notes that 70% of his returns come from companies led by women, praising their understanding of risk mitigation.
4. Political Views and Opinions
Kevin openly shares his perspectives on current political figures and the impact of policies on the American economy.
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Critique of Canadian Prime Minister Justin Trudeau:
- He expresses strong criticism of Trudeau's management and policies, citing economic mismanagement and leadership flaws.
"He's the worst prime minister the country's ever had... capital's leaving Canada like crazy." [57:56]
- He expresses strong criticism of Trudeau's management and policies, citing economic mismanagement and leadership flaws.
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2024 Election Insights:
- Discussing the upcoming election, Kevin emphasizes the importance of policy over personality, expressing concerns about candidates lacking clear policy positions.
"She has a 50, 50 chance of winning with absolutely no one knowing what she's going to do... policies that could affect the American dream." [62:37]
- Discussing the upcoming election, Kevin emphasizes the importance of policy over personality, expressing concerns about candidates lacking clear policy positions.
5. Advice for Aspiring Entrepreneurs
Drawing from his extensive experience, Kevin offers actionable advice for individuals looking to build successful businesses.
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Passion Over Money:
- He encourages entrepreneurs to pursue their passions rather than solely chasing financial gains, emphasizing the importance of dedication and hard work.
"You're willing to work 25 hours a day, eight days a week... you don't want to get rich pursuing the greed of money." [18:48]
- He encourages entrepreneurs to pursue their passions rather than solely chasing financial gains, emphasizing the importance of dedication and hard work.
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Quality Over Quantity:
- Advocating for investing in high-quality assets, Kevin advises against accumulating unnecessary possessions in favor of items that appreciate over time.
"Buy good shit. Buy less good shit and instead of more crap. Buy one good pair of sneakers... it doesn't sound stupid, does it?" [22:05]
- Advocating for investing in high-quality assets, Kevin advises against accumulating unnecessary possessions in favor of items that appreciate over time.
6. Future Projects and Personal Goals
Kevin discusses his ambitions beyond "Shark Tank," revealing plans to venture into acting and other business endeavors.
- Acting Aspirations:
- He shares excitement about his upcoming role in a scripted project, describing it as a departure from his usual ventures.
"I'm really thrilled because it's just a project that's extremely different than what you do." [28:43]
- He shares excitement about his upcoming role in a scripted project, describing it as a departure from his usual ventures.
7. Promotional Segments
Throughout the episode, there are promotions for various products and services. As per the podcast’s guidelines, these sections are omitted from the summary to focus on the core content discussions.
Notable Quotes with Timestamps
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On Watch Collecting:
"FP Journe is holding its value. Watches are down about 28% worldwide. Except Jorn. Jorn only goes one way up." [04:55]
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On Investment Philosophy:
"If you just save 10, 15% of it by not buying shit you don't need and just stick it in an app... you'll end up being a millionaire." [19:00]
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On Shark Tank Success:
"They can articulate the opportunity in 90 seconds or less, explain why you can execute, and know your numbers." [32:58]
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On Political Views:
"She's doing this without giving any detail to her policy. That's unprecedented." [62:37]
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On Entrepreneurial Advice:
"Buy good shit...it doesn't sound stupid, does it?" [22:05]
Conclusion
Episode 135 of the Full Send Podcast offers a comprehensive and candid conversation with Kevin O'Leary, providing listeners with valuable insights into his passions, investment strategies, experiences on "Shark Tank," and unfiltered political opinions. Whether you're an aspiring entrepreneur, an avid watch collector, or simply interested in Kevin's perspectives, this episode delivers engaging and thought-provoking content that resonates with a wide audience.