Want to take a guess at what one of my favorite TV shows is? If you thought of CNBC’s “Shark Tank,” then I’d say you know me pretty well (and if you also guessed “Miami Vice” or “Jeopardy,” then you get points, too). By far the best “character” on “Shark Tank” is Kevin O’Leary, also known as “Mr. Wonderful.”
Mr. Wonderful is a favorite because he is an unapologetic capitalist who is all about making money. Unlike some of the more “socially conscious” shark investors on the show, Mr. Wonderful cares only about answering one question: How much of a return on his investment is he going to get? And guess what, that is the only concern that should be taken into account when one is investing one’s money.
You see, for Mr. Wonderful and for me, “profit” isn’t a dirty word, but rather the most moral undertaking humans can engage in. The reason why is because one can only make a profit in a business if one is selling a good or service that makes its customers better off. So, if you have a product that helps meet a need, and that can be sold for more money than it takes to make, then you have engaged in the most moral activity one can ever engage in—the act of making money.
Now, when I watch “Shark Tank,” I often put myself in the judges’ seat to see if I think the pitches I hear from the entrepreneurs seeking investment capital would be worthy of an investment. Sometimes I agree with the sharks (I almost always agree with Kevin O’Leary) and sometimes I don’t. But try as I may to voice my thoughts through the TV, that device is a one-way portal.
Yet very soon, I will be living out my very own “Shark Tank” fantasy, as I have been tapped to be a judge at this year’s FreedomFest “Pitch Tank.”
As you may already know, FreedomFest is coming up fast. This year’s ultimate summit for liberty will be held in Las Vegas at the Caesar’s Forum from July 10-13. In addition to the incredible lineup of marquee names such as President Javier Milei of Argentina, best-selling author and one of my favorite public intellectuals, Steven Pinker and rapper/actor extraordinaire Ice-T, the conference also features the Pitch Tank.
Your editor performing at last year’s FreedomFest Jam Session
At FreedomFest, we celebrate the virtue of making money through entrepreneurship, as it is the profit motive that drives individuals to create the solutions of tomorrow for the problems of today. Pitch Tank competitors will compete for cash prizes and for professional services, and they’ll also be given guidance to help refine their concept.
Much like its TV show counterpart, contestants will pitch their idea to a panel of judges in the initial rounds. The top three finalists will pitch again in the final round. It is here that I am honored to say that I will be one of those judges, and so now, you can call me the “New Mr. Wonderful.”
If you’re an entrepreneur and you’re thinking about trying out your ideas to a tough-but-fair panel of experts, then the FreedomFest Pitch Tank is for you.
And as a fan of The Deep Woods, not only can you come and watch me judge the pitches, you also can come see me speak about money and ideas alongside my fellow Eagle Financial Publications colleagues George Gilder and Mark Skousen. In fact, George, Mark and I will be on a panel together discussing our favorite investments for “The New Roaring Twenties,” and that is a panel not to be missed.
Here is a link to all of my scheduled activities at FreedomFest 2024. In addition to these scheduled events, I will also be at many of the social events held by the conference, including my favorite, the FreedomFest Jam session.
So, if you want to have a great time basking in the Vegas liberty sunshine, then FreedomFest is a must-attend event. And for The Deep Woods readers, you can get a very special discounted rate if you sign up NOW by going to www.freedomfest.com, or emailing Hayley at hayley@freedomfest.com, or calling her at 1-855-850-3733, ext. 201.
Use code EAGLE50 to get $50 off the registration. The discount ends on July 1, and the price of a ticket goes up on that date, so now is the time to register.
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It’s a Wonderful World
I spent all this time building a dream
But none of it came true ’til you were here with me
It’s a wonderful world filled with fabulous things
I’d trade it all away to have you here with me
It’s a wonderful world
–Ben Rector, “Wonderful World”
Since “wonderful” is the theme of this issue, I thought I’d leave you with the wonderful sounds of the great Ben Rector and his song “Wonderful World.” The adorable video features his daughter Jane, and some cool puppetry, as it reminds us of just how wonderful the world is, not only abroad, but especially right at home with family. Watch the video and try not to smile—I dare you.
Wisdom about money, investing and life can be found anywhere. If you have a good quote that you’d like me to share with your fellow readers, send it to me, along with any comments, questions and suggestions you have about my newsletters, seminars or anything else. Click here to ask Jim.
In the name of the best within us,
Jim Woods
