There’s a new Shark in the boardroom. After 5 consecutive seasons guest starring on Shark Tank, KIND founder Daniel Lubetzky is finally a regular Shark in Season 16 right alongside Mark Cuban, Barbara Corcoran, Lori Greiner, Robert Herjavec, Daymond John, and Kevin O’Leary. The beloved mogul is the show’s first new regular Shark in over a decade and the timing couldn’t be better since Cuban is leaving the ABC series after this season.
Lubetzky’s enthusiasm and knowledge will be a welcome addition on Shark Tank, but the other Sharks should never mistake his good-nature for softness. As a Shark, “you’re guaranteed to get into some pretty intense negotiations and you fight for the deal with passion,” said Lubetzky. “It’s a very interesting dynamic, and it’s surprisingly real.” While the products entrepreneurs bring in front of the sharks are important, the Sharks also take into consideration key qualities in the entrepreneurs themselves. Lubetzky explained what he looks for: “I want them to have integrity. I want them to have hustle. I want them to have grit.”
Even if Lubetzky isn’t interested in investing in the product or in the entrepreneur, he strives to hear each one out and share what he thinks they could improve on. “I believe feedback is a gift,” said Lubetzky. “Even if the person doesn’t want to hear it—and sometimes it’s tough—I always try to give feedback in a respectful and constructive way.” Lubetzky always tries to lead his comments and critiques with “kindness” (much like his successful brand). “Kindness is not niceness. It’s different,” explained Lubetzky. “To be nice, you can just be polite. To be kind, you need to have the courage to be honest and deliver your message in a compassionate way.”
DECIDER spoke with Lubetzky over Zoom to talk about negotiating with his fellow Sharks, what his mother thinks of his success, and what fans can expect from this upcoming season.
DECIDER: Congratulations on becoming Shark Tank‘s first new regular Shark in over a decade. How does it feel?
DANIEL LUBETZKY: I’m very, very excited.
I’m sad we’re losing Mark Cuban, but I’m so happy to be gaining you!
Mark is still going to be here for this season, making it the first time the show has had 7 regular Sharks. He and I were just on together a while ago, fighting for deals [laughs]. That’s always a cool thing about being a Shark. You’re guaranteed to get into some pretty intense negotiations, and you fight for the deal with passion. Then someone wins, the deal closes, it’s done, you reset, and move on to the next one. It’s fascinating. During negotiations for a certain product two or three sharks might become sworn enemies. The minute the deal is done, the Sharks are having coffee together. It’s a very interesting dynamic, and it’s surprisingly real.
Who was the first Shark to reach out to you upon the news that you were being made a regular Shark?
I can’t tell you for certain, but I think may have been Daymond because he and I are very close. We were close friends even before Shark Tank.
I love how you post about your wonderful mother on your social media. What has your success and your achievement of the American dream meant to her?
Such a beautiful question. My mom could not care less about material things or status. She just wants us to be good people. She grew up on a ranch, and they struggled a lot to make ends meet. What she achieved with my father was something she never dreamt she could accomplish. And then what I’ve achieved financially was something none of us ever expected. She feels like she succeeded as a parent because I treat every one of her friends with patience and respect, not because of what I’ve done with businesses or projects. I know I’m not perfect, but I try to be for her.
I was the first person from my family to finished college and then went on to law school and earned a degree. I practiced law for several years before I left to start a company called Peace Works. My parents were aghast, terrified, and worried because their nice Jewish lawyer was walking up and down the streets of Manhattan instead of being in a law office. My dad, who was a Holocaust survivor, passed away in 2003. He didn’t get a chance to see what I have accomplished with KIND. In fact, KIND is named after him. While I think he’d be proud of the business, he would care more about the how I treat and value the people in my company. I look at everyone as an equal, whether they are a vice president or the janitor. That what my parents expect of me.
I think that attitude carries over into the Shark Tank. Some of the Sharks can get a little snarky with the entrepreneurs, but not you. You always lead your critiques with kindness, which I really appreciate.
Thank you for saying that. Kindness is not niceness. It’s different, right? To be nice, you can just be polite. To be kind, you need to have the courage to be honest and deliver your message in a thoughtful and compassionate way. I’m always very earnest. I say what needs to be said, but I strive to say it in a nurturing, respectful, constructive way. I believe feedback is a gift. Even if the person doesn’t want to hear it—and sometimes it’s tough—I always try to give feedback in a respectful and constructive way.
What qualities do you look for when you’re about to invest with an entrepreneur?
The most important thing is that they are good people with minds for business. I want them to have integrity. I want them to have hustle. I want them to have grit. I want them to be self-reflective, see their own faults, and improve on them. Every company goes through a roller coaster ride. There are going to be tough moments, so you want to be with people that you enjoy when you’re in the trenches. I also think it’s valuable to be forgiving of yourself when things are not going the way you want them to go. Learn what you could do better, but don’t slip into hopelessness.
What can you tease about your journey as a regular shark this season?
I don’t hold back from providing critical feedback, but always respectfully. If you look at my journey on the show starting on Season 11, I have always shared earnest feedback, but I’m much more comfortable now. I also negotiate a little bit harder with the Sharks. As a guest Shark, I didn’t want to cross certain lines. I was always worried that I was interrupting the other Sharks, but I’ve since gotten over that [laughs]. I’ve learned to assert myself in the boardroom. I’m able to tease the other Sharks now. I’m a bit tougher on the Sharks, but never on the entrepreneurs.
I’m excited to share a little bit more of my wisdom with the entrepreneurs and audiences at home. Throughout the year, I get ideas, and I always make sure to write them down. Right before we record the show, I always read my notes because I want to have some fresh advice ready. If something I’ve learned in business is applicable to what an entrepreneur is going through, I want to express it. I want my experience to help others.
Shark Tank airs Fridays at 8/7c on ABC.