Kevin O'Leary
👤 SpeakerAppearances Over Time
Podcast Appearances
And the only way to change their behavior is to show consequence. And we haven't ever done that. Well, this administration has decided there are consequences to stealing IP and not playing by the rules and not giving assets to markets and using our capital markets by not playing by the rules of GAAP. And all of these things are coming to a head.
And the only way to change their behavior is to show consequence. And we haven't ever done that. Well, this administration has decided there are consequences to stealing IP and not playing by the rules and not giving assets to markets and using our capital markets by not playing by the rules of GAAP. And all of these things are coming to a head.
I mean, I hate to use this analogy, but it's a good one. This is like squeezing a teenage pimple. That's what's going on here. And they're going to keep squeezing until the acne is gone. And it's going to get ugly, but it's going to get resolved because China can't afford not to have access to the world's largest economy. They just can't. Otherwise, everybody would be unemployed there.
I mean, I hate to use this analogy, but it's a good one. This is like squeezing a teenage pimple. That's what's going on here. And they're going to keep squeezing until the acne is gone. And it's going to get ugly, but it's going to get resolved because China can't afford not to have access to the world's largest economy. They just can't. Otherwise, everybody would be unemployed there.
I mean, I hate to use this analogy, but it's a good one. This is like squeezing a teenage pimple. That's what's going on here. And they're going to keep squeezing until the acne is gone. And it's going to get ugly, but it's going to get resolved because China can't afford not to have access to the world's largest economy. They just can't. Otherwise, everybody would be unemployed there.
But it's sort of a nasty situation. But I'm frankly happy that we're finally doing this. As a guy, I've said this countless times. I do business in China, and I've been royally screwed. And I'm tired of it. I'm just sick of it. And I speak for millions of entrepreneurs that have been screwed in China for 20 years. We're done. Fix it. I'm okay with this volatility. I'd like to get it fixed.
But it's sort of a nasty situation. But I'm frankly happy that we're finally doing this. As a guy, I've said this countless times. I do business in China, and I've been royally screwed. And I'm tired of it. I'm just sick of it. And I speak for millions of entrepreneurs that have been screwed in China for 20 years. We're done. Fix it. I'm okay with this volatility. I'd like to get it fixed.
But it's sort of a nasty situation. But I'm frankly happy that we're finally doing this. As a guy, I've said this countless times. I do business in China, and I've been royally screwed. And I'm tired of it. I'm just sick of it. And I speak for millions of entrepreneurs that have been screwed in China for 20 years. We're done. Fix it. I'm okay with this volatility. I'd like to get it fixed.
I want the other tariffs to get worked out because there's a lot of trade going on there. It's going to happen. But China, squeeze the pimple.
I want the other tariffs to get worked out because there's a lot of trade going on there. It's going to happen. But China, squeeze the pimple.
I want the other tariffs to get worked out because there's a lot of trade going on there. It's going to happen. But China, squeeze the pimple.
I'm familiar with the deal. I'm familiar with the situation. I probably had that podcast sent to me 2,000 times already as a member of investors on Shark Tank. But we also have stories... of hundreds of companies that have been on Shark Tank that also manufactured their product in China.
I'm familiar with the deal. I'm familiar with the situation. I probably had that podcast sent to me 2,000 times already as a member of investors on Shark Tank. But we also have stories... of hundreds of companies that have been on Shark Tank that also manufactured their product in China.
I'm familiar with the deal. I'm familiar with the situation. I probably had that podcast sent to me 2,000 times already as a member of investors on Shark Tank. But we also have stories... of hundreds of companies that have been on Shark Tank that also manufactured their product in China.
As soon as it gets to 5 million in sales domestically, the same factories that are making it there knock it off and sell it at a 40% discount because they never have to recoup the R&D that the company put into making the product in the first place. And they get wiped out a different way. They get wiped out by China, they just totally ignore the IP and they can't go back and litigate.
As soon as it gets to 5 million in sales domestically, the same factories that are making it there knock it off and sell it at a 40% discount because they never have to recoup the R&D that the company put into making the product in the first place. And they get wiped out a different way. They get wiped out by China, they just totally ignore the IP and they can't go back and litigate.
As soon as it gets to 5 million in sales domestically, the same factories that are making it there knock it off and sell it at a 40% discount because they never have to recoup the R&D that the company put into making the product in the first place. And they get wiped out a different way. They get wiped out by China, they just totally ignore the IP and they can't go back and litigate.
The crazy thing, Megan, is Chinese companies use the American legal system to sue American companies after they've knocked them off. Why is that okay?
The crazy thing, Megan, is Chinese companies use the American legal system to sue American companies after they've knocked them off. Why is that okay?
The crazy thing, Megan, is Chinese companies use the American legal system to sue American companies after they've knocked them off. Why is that okay?