A DAY AT THE BEACH:
Sharks (from left) Lori Greiner, Daymond John, Robert Herjavec, Mark Cuban, Kevin O’Leary, and Barbara Corcoran in a photo composite shot on Jan. 29 and Feb. 1
S U N DAY, M A R C H 1 6 , 2 0 1 4 | PA R A D E .C O M
GETTING CHUMMY WITH THE STARS OF SHARK TANK, THE HIT SHOW THAT’S REINVENTING THE AMERICAN DREAM er cover!) (We’re gonna need a bigg
Shark
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WALTER SCOTT ASKS...
TONY GOLDWYN
The actor, 53, plays President Fitzgerald Grant on Scandal (ABC, Thursdays) and a stoic dad in the new movie Divergent. Do fans get mad at how badly Fitz sometimes treats Kerry Washington’s Olivia on Scandal? I had a stewardess pull me into the galley on a plane to lecture me about how Olivia is the only character Fitz can trust. I said, “Okay, let me talk to [show creator] Shonda Rhimes about that!” What do Washingtonians think of the show? More than one person working in the White House has told me it’s not that different from reality. In Divergent, you’re a member of the Abnegation, or selfless, faction of society. Is that you in real life, or would you be closer to Erudite, Dauntless, Amity, or Candor? I’m afraid I would be Divergent. I’d never survive stuck in any one faction. Did playing evil in Ghost typecast you as a bad guy? Yeah. But before that, I was getting nothing but boring good guys. Villains are often more complicated and fun to play. What did you learn from your grandfather, studio chief Sam Goldwyn? That show business is about survival and reinvention.
All hail the star of Beat Bobby Flay.
Q: Does Bobby Flay have a favorite comfort food? —Sabina K., New Orleans A: You wouldn’t guess it from his trim physique, but Iron Chef Flay, 49—
whose new show is Beat Bobby Flay (Food Network, Thursdays)—confesses, “My weakness is ice cream. I like vanilla with caramel or butterscotch running through it.” Speaking of running, that’s how he burns calories: “There’s no magic. You
Taissa and Vera Farmiga
other siblings. Vera, who directed Taissa in 2011’s Higher Ground, has a young son and daugher but also considers her baby sis “my surrogate child,” she says. “We’re best friends, but I like to think I’ve parented her in a way, too.” Find out what other career Vera considered at parade.com/farmiga.
Do you have a question for Walter Scott? Post it at facebook.com /parademag.
gotta work ’em off.” Get his Garlic Shrimp recipe at parade.com/flay. Q: Is Bates Motel’s Vera Farmiga related to Taissa Farmiga from American Horror Story? —Sara L., Oklahoma City A: Vera, 40, and Taissa, 19, are sisters who have five
How long did Liz Taylor’s marriages with Richard Burton last? –Brian B., New York City
A: Elizabeth—she hated being called Liz—first wed Burton 50 years ago, on March 15, 1964, when she was 32 and he was 38. Denounced by the Vatican for their affair on the set of Cleopatra while married to others, the couple divorced a decade later, then remarried in 1975 for about 10 months. See more of Taylor’s eight storied weddings at parade.com/taylor.
Q: Why are shamrocks linked to St. Patrick’s Day? —Michael G., Reno A: Faith and begorrah, ’tis a reflection of the March 17 holiday’s religious roots. Legend has it that fifth-century missionary St. Patrick, agent of Christianity in Ireland, used clover leaves to explain the concept of the Trinity: Father, Son, and Holy Spirit.
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Enter for a chance to win American Hustle on video, signed by director David O. Russell, at facebook.com/parademag.
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THE MUPPETS HIT THE BIG SCREEN
Kermit and the gang return to theaters this week—along with Ricky Gervais, Tina Fey, and Ty Burrell—in Muppets Most Wanted. See Miss Piggy’s lavish wedding dress at parade.com/piggy.
EAT LIKE THE IRISH
On the eve of St. Patty’s Day, Darina Allen, founder of the famous Ballymaloe Cookery School and author of the new 30 Years at Ballymaloe, shares her tricks for perfect potatoes, plus her recipe for colcannon (a traditional spuds and cabbage dish), at parade.com/irish.
DO YOU REALLY NEED 8 HOURS OF SLEEP?
L I K E U S AT FA C E B O O K . C O M / PA R A D E M A G
impsons know Fans of The Silish Bart can just how devdred troublebe. Now kin try his sneakiest makers can me. Bart Simpson’s pranks at hoischief, a how-to Manual of Mcartoon’s creator, book by the ing, is coming Matt Groen me for April Fool’s out just in ti ructions and Day. Get instn of Bart’s best tips for seve ing the classic and gags (includus one shown ever-hilario rade.com/pranks. below) at pa
BART SIMPSON’S
this calls my Bart e “Crea th one center.” S
Maybe not, according to Kat Duff, author of The Secret Life of Sleep. Learn to quickly measure how much shuteye you personally require and discover the truth behind seven more sleep myths at parade.com/sleep.
E
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TIME TO CELEBRATE
MEET OUR PLAYERS OF THE YEAR
The Grand Ole Opry House’s 40th Anniversary Four decades ago, country music’s famous concert series moved to its permanent home in Nashville. Print a free, exclusive anniversary poster and see beautiful behind-the-scenes photos of the venue at parade.com/opry. Rob Lowe Turns 50 The youthful-looking star—whose new memoir, Love Life, hits shelves in April— reaches a milestone birthday this week. Go to parade.com/lowe for photos of him from his teen hearthrob days to the present.
Young stars Jahlil Okafor of Whitney M. Young Magnet High School in Chicago (above) and A’ja Wilson of Heathwood Hall Episcopal School in Columbia, S.C., lead Parade’s 58th annual All-America basketball team. See their stories, plus the rest of the squad, at parade.com/ball.
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Sw i m m i n g W i t h
Sharks Big dreams meet big money on ABC’s hit reality show Shark Tank. The moguls who invest in the next great American inventions dish about the deals, the pitches that make them bite, and how they really feel about each other.
Want to see a true Sharknado in action? Unleash the business tycoons from the hit ABC show Shark Tank in a Brooklyn loft and watch the nuttiness unfold. Daymond John is giddily riding an inflatable great white and Robert Herjavec is cracking jokes, telling Lori Greiner after she compliments his physique in swim trunks, “I’m the guy on the show that really hot girls email and say, ‘You remind me of my dad!’ ” Mark Cuban and Barbara Corcoran try to loosen up a stiff Kevin O’Leary: Cuban ambles up behind him and starts operating his arms like a puppet, while the bawdy Corcoran whips up a raunchy song to try and get the man—ironically known to Shark Tank viewers as Mr. Wonderful—to crack a smile. Finally, inspiration strikes. “Does anyone have a broom for Barbara?” asks O’Leary, who has been joking on air for years that his fellow Shark requires a particularly witchy mode of transportation. Voilà! One is located and Corcoran gamely hops on, prompting O’Leary, at long last, to unveil his biggest grin of the day. “He loves that stupid joke!” Corcoran shrieks. In other words, you can take the Sharks out of their tank, but they’ll never lose their bite. Over five seasons, these six multimillionaires and billionaires have turned Shark Tank into a runaway reality hit. The show, on which entrepreneurs enter the “tank” (at Sony Pictures studios in Culver City, Calif.) and try to convince the “Sharks” to invest in their fledgling By Jason Lynch
Cover and inside photographs by Brian Doben
MARK CUBAN Age: 55 Lives in: Dallas How He Struck It Rich: Founding the computer business
icroSolutions and the Internet radio company Broadcast.com; M he also owns the Dallas Mavericks NBA team. Signature quote: “I’m starting my 24-second shot clock.” Biggest splurge: A Gulfstream V jet he bought online for $41 million, landing him in the Guinness Book of World Records for largest single e-commerce transaction. Money invested in Shark Tank deals: “I think it’s $8 million so far, and it will go past $10 million when this season is over.” hot tip for tankers: “People think I’m negotiating when I hold back. I’m actually listening.” True confession: “I didn’t think the show would last! What I didn’t get then is, it’s not really a business show; it’s inspirational. People want to know the American dream is alive and well.”
6 | March 16, 2014
© PARADE Publications 2014. All rights reserved
BARBARA CORCORAN Age: 65 Lives in: New York City How She Struck It Rich: Turning a $1,000 loan from her
then boyfriend into a $5 billion real estate company, the Corcoran Group. Signature quote: “I don’t just invest in the product. I invest in the entrepreneur.” Biggest splurge: When she finally made a profit after almost 12 years in business, she bought each of her parents a car and had them delivered to Clearwater, Fla. Why she became a Shark: “It was a perfect fit. Picking out who’s going to be the winning salesperson is what I’ve done all my life.” Deal she’s proudest of: Ava the Elephant, the talking children’s medicine dispenser. “My first investment on the first show. Everybody laughed at it, but I saw myself in [inventor Tiffany Krumins], and I never worked so hard getting something off the ground.” hot tip for tankers: “Use clear language so we know what your business is about.” True confession: When asked to alternate with Lori Greiner starting in season three, “I didn’t like it. I thought I was being edged out of the show. But I was mistaken, and I’ve found out since that it’s very nice to have another woman on the set.”
KEVIN O’LEARY Age: 59 Lives in: Toronto How He Struck It Rich: Founding SoftKey Software Products
(later known as the Learning Company), and serving as chairman of O’Leary Funds mutual fund company. Signature quote: “You’re dead to me!” Biggest splurge: “Probably my signed Les Paul guitar, which I paid a ridiculous price for.” Why he became a shark: “The premise of the show is that people come to me; I don’t have to go to them anymore.” money invested in shark tank deals: “Millions, and they haven’t all worked.” Deal he’s proudest of: “Wicked Good Cupcakes. The sales went from $15,000 a month before the show to $264,000 after. I made my money back in 72 days.” hot tip for tankers: “For a successful pitch, you’ve got to know the numbers—or I will eviscerate you.” True confession: “Mr. Wonderful is a URL I can buy, but I don’t need to because everybody knows me as that. I think it was a sarcastic remark made by Barbara that went beyond viral. When I check into hotels they don’t know my name; they just call me Mr. Wonderful. It’s weird, but I’m okay with it.”
© PARADE Publications 2014. All rights reserved
DAYMOND JOHN
ROBERT HERJAVEC
Age: 45 Lives in: New York City How He Struck It Rich: Founding the hit cloth
Age: 50 Lives in: Toronto How He Struck It Rich: Selling his computer
ing line FUBU, which led to his being dubbed the Godfather of Urban Fashion. Signature quote: “That’s a Slick Willie move!” Biggest splurge: “When I first came into money, I bought six or seven homes. One week end I went to Miami and bought an apartment and a mansion several blocks from each other, which was not that bright!” Why he became a Shark: “I was only getting pitches for apparel brands. I thought I’d be able to buy other products.” money invested in shark tank deals: “In re volving hard cash right now, five or six million.” Deal he’s proudest of: Bubba Q’s Boneless Ribs. “Could be the biggest deal I’ve ever done.” hot tip for tankers: “Pitch us on what’s valu able to us. Why do we want to be a part of it?” True confession: “I was at a party and Leo nardo DiCaprio was like, ‘I’m a big fan of all you Sharks.’ I’m sitting there going, ‘Leonardo DiCaprio knows who I am.’ That was fascinating.”
security business to AT&T and running the Herjavec Group, a cyber-security technology company. Signature quote: “I’m a very nice guy, but don’t mistake my kindness for weakness.” Biggest splurge: “My private plane, a Challenger 604. I call it the time machine; it allows me to be home with my kids.” money invested in shark tank deals: “It’s like the cars I buy—I try not to tell my wife about it. Probably millions of dollars.” Deal he’s proudest of: “ChordBuddy [a guitar learning system]. Not just because we’ve made a lot of money, which we have, but we were able to buy a factory and employ 20 people.” hot tip for tankers: “Realize it’s our own money. It’s not a game show.” True confession: “Somewhere between seasons two and three, I figured out that if the product plays to the audience, the show will have a massive impact on that company.”
crashing it in eight minutes while trying to order her homemade baked goods. “The exposure is phenomenal,” says Hopper. “Leading up to the show, in my first six months of business, I did $65,000. Here we are, two years after, and we’ve done $8 million in sales.”
For many contestants, the show has been a lifeline. Nate Holzapfel quit his job, sunk $90,000 into the company he cofounded, and was selling the Mission Belt (a belt that needs no holes) door to door when he appeared on season four. The $50,000 deal he made with John
meant he could stop subsisting on peanut butter and jelly. Season five has seen 16-year-old Henry Miller pitching the Sharks on Henry’s Humdingers (raw honey with spices added), a business his family mortgaged their farm in Deming, Wash., to support. Herjavec and
8 | March 16, 2014
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Cover image is a composite photo with Special thanks to The Happy Pixel project.
companies, hit its highest rating yet in January, drawing 8.2 million viewers. Shark Tank repeats have been a ratings bonanza for CNBC as well this year. In short, the country hasn’t been this shark-obsessed since Jaws. “It’s what America stands for. Everybody’s got a dream,” says executive producer Mark Burnett, who also oversees Survivor and The Voice and adapted the show from the Japanese-based reality format known in most countries as Dragons’ Den. Adds Amy Cosper, editor in chief of Entrepreneur magazine, “It says a lot about the psyche of our culture: Crazy things are possible, even in a down economy. Entrepreneurs see things that others don’t.” Still, it took several years for Shark Tank to really hook viewers. When the show debuted in August 2009, only 4 million tuned in. But the audience has steadily grown each season, which Corcoran attributes to the show’s season three move to Fridays, traditionally a night with low TV viewership. She thought it would be “a death knell,” but to her surprise, “that’s when we started dragging the kids in. The kids dragged in their parents. The parents dragged in the grandparents and cousins.” Says inventor Rick Hopper, who in season three convinced Greiner to invest in ReadeRest, his magnetic eyewear holder, “Families can argue over the validity of a product or say, ‘That guy was a terrible presenter,’ and ‘That Shark is mean.’ Everybody identifies with something different.” And it’s not just the show that’s a TV phenomenon. Many of the products featured have become overnight sensations. The power of Shark Tank became evident in the show’s second season, when 75,000 viewers went to Kim Nelson’s Daisy Cakes website during the show,
CoVeR AND INSIDe: HAIR AND MAKe uP, GReINeR, HeRjAVeC, AND joHN: lINDSey WIllIAMS uSING AMIKA HAIR AND FACe ATelIeR CoSMeTICS. HAIR AND MAKeuP,
CoRCoRAN, CuBAN, AND o’leARy: MAGGIe CoNNolly uSING oRIBe HAIR AND NARS MAKeuP. WARDRoBe STylING: MoNICA CoTTo. SHARK ICoNS: ISToCKPHoTo
LORI GREINER Age: 44 Lives in: Chicago How sHe struck it ricH:
Known as the queen of QVC, she turned one idea—a plastic jewelry organizer for earrings— into a multimillion-dollar brand, creating over 400 products. signAture quote: “I can tell instantly if something is a hero or a zero.” Biggest spLurge: “I’m really a simple person. But I do like jewelry and Cartier watches.” deAL sHe’s proudest of: “My most successful is Scrub Daddy [the scratch-free sponge]. We’ve surpassed $15 million in sales within a year.” Hot tip for tankers: “I don’t pick people who are just using the show for publicity, no matter how much I love the product.” true confession: Though she didn’t join Shark Tank until season three, “I was going to be on originally, but my mom passed away.”
Cuban’s offer of $300,000 is allowing Henry to repay his parents’ $150,000 loan. And season three’s Billy Blanks Jr. (son of Tae Bo workout creator Billy Blanks) says he was “at the end of my rope” before presenting continued on page 12
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Table Around the
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Rainbow and Pot of Gold Cake
ACTIVE: 40 min TOTAL: 1 hr 15 min SERVES: 16
Celebrate St. Patrick’s Day with a sweet pot of gold BY KAREN TACK AND ALAN RICHARDSON
+ Butter and flour, for pan 1 (16.5-oz) box French vanilla cake mix 1 (16-oz) can vanilla frosting ¼ cup each red, orange, yellow, light green, light blue, and purple candy-coated chocolates (such as Sixlets) 1 shortcake dessert shell or other round flat snack cake ½ cup canned milk chocolate frosting + Gold foil-covered chocolate coins
1. Preheat oven to 350°F. Line bottom of a 9-inch round, 2-inch deep cake pan with waxed paper. Butter and flour sides of pan. 2. Prepare cake mix according to package directions. Pour batter into prepared pan and smooth top. Bake until a toothpick inserted in center comes out clean, about 35 minutes. Transfer to a wire rack and let cool 10 minutes. Invert onto rack and let cool completely. 3. Cut cake in half to make two semicircles. Spread some vanilla frosting on flat side of 1 cake and sandwich together with second flat side to make a 2-layer semicircle cake. Transfer cake to a
serving platter, cut sides down. Spread remaining vanilla frosting over cake. 4. Working quickly, before the frosting dries, decorate with candy-coated chocolates: Press chocolates into cake, making two close-set rows of each color over arch of cake, very close together, starting with red at one edge and ending with purple. 5. Put shortcake shell or snack cake on a small plate; spread with chocolate frosting. Put chocolate foil coins in center and around to look like a pot of gold. Set small cake at one end of rainbow. See how we made it at parade .com/rainbowcake. Then make the cake yourself and post a pic at facebook.com/parademag.
10 | MARCH 16, 2014
© PARADE Publications 2014. All rights reserved
PHOTO: ANDREW PURCELL; FOOD STYLING, LIZ DUFFY; PROP STYLING, STEPHANIE HANES
rainbow
You can buy Sixlets and chocolate coins at Nuts.com.
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shark Tank from page 9
his fitness program Dance With Me on Shark Tank. “My wife and I put everything we had into it,” he recalls, having acknowledged on the show that he wasn’t being bankrolled by his dad (“He’s making me earn it”). He initially turned down John and Cuban’s offer, until John left the tank (the only time he’s done so) and urged him to reconsider. “He didn’t understand the opportunity we were giving him,” says John. The Sharks’ $100,000 investment not only enabled Blanks to get his power turned back on but to expand Dance It Out (as it’s
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now called) to 2,200 instructors worldwide, with a family fitness book on the way. “It’s absolutely changed our lives,” says Blanks. No wonder, then, that 35,000 entrepreneurs applied this season (both online and via nationwide casting calls) for their shot in the tank, up from just 1,000 applicants in season one. Of those, only 157 were selected to pitch the Sharks, and 112 of those pitches will air over this season’s 28 episodes. Because of the Sharks’ busy schedules, producers cram an entire season’s worth of filming into a mere 17 shooting days in 12 | march 16, 2014
© PARADE Publications 2014. All rights reserved
July and September. (Five of the six Sharks appear in each episode, with Corcoran, John, Greiner, and Herjavec taking turns sitting out.) They hear around 10 pitches per day, with most lasting about an hour, though they can take anywhere from 20 minutes (“for dumb stuff,” says Cuban) to two hours (the Plate Topper food storage device in season four, the show’s longest pitch to date). Those sessions are edited down to roughly 10 minutes of airtime. For the entrepreneurs, it’s do or die. “This is a one-take deal,” says ReadeRest’s Hopper, who adds that he “almost passed out” from nerves. “You’re fighting for the life of your business. The producers don’t give you any coaching. It’s the most stressful environment I’ve experienced.” Meanwhile, the Sharks have no idea what’s in store. “We don’t know anything about the person in front of us,” says John. Adds Cuban, “We can’t use computers. We can’t do a quick search.” Instead, they’re left to scribble the pertinent pitch details on their notepads—if they can remember them. “My notes are always the same,” says Corcoran. “I have the numbers, and then the note under it to Robert or whoever is sitting next to me: ‘Hey, what were the numbers?’ ” Explains Herjavec, “You’re trying to figure out what to offer and not miss the information, because if you miss something and another Shark snaps on it, it’s too late.” The Sharks all say they’re open to whatever deals might come their way, no matter the price, so bidding can get fierce. “It’s not like going into a casino
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and saying, ‘I’m only going to spend $1,000,’ ” says Greiner. “If I see great stuff, I’m excited, and I’m going to be in the game.” But the Sharks don’t let hurt feelings carry over to the next pitch, or to any of their existing partnerships. “We’ve become really good at compartmentalizing,” says Herjavec. “Just because you get run over on one deal by someone, they may be the right partner on the next one.” That said, some long-simmering tensions do bubble up during an episode airing next month, in which Corcoran takes the male Sharks to task for not giving women entrepreneurs the same shake as the men. “Well, unless they’re beautiful, and then they get an extra shake or two from the guys, let me tell you,” says Corcoran. Counters O’Leary, “She’s full of it. I invest in a lot of womanrun deals, because they make me money. Women are good entrepreneurs and good at executing.” As filming drags on, the Sharks get “punch-drunk,” says Cuban, led by O’Leary, who “gets the giggles more than anybody. They used to call him Mr. Giggles!” Explains O’Leary, “I can’t help it. I’m dead tired and the guy in front of me is absolutely nuts.” That’s one reason why “you don’t ever want to be the entrepreneur at the end of the day,” Corcoran cautions. “They never get bought!” When a deal is made on air, it’s still a long way from becoming a reality. All agreements undergo a rigorous vetting by the respective Shark’s legal team. “About 60 or 70 percent of my deals fell through in the first season,” says John. “Now only about 15 percent of them do.” The quality of pitches has gone up, and the show’s producers have become savvier about
navigating potential red flags during the application process. Of course, sometimes the entrepreneurs themselves get cold feet. “Going on Shark Tank is like being in Vegas,” says Herjavec. “Sometimes they wake up the next day and say, ‘Did I really do that?’ ” After the deals close, the real work begins for the Sharks. “Filming is the easiest part,” says Cuban. “The hardest part is that you actually have to have a connection and help these companies.” Corcoran estimates she spends “60 to 70 hours a week” with her entrepreneurs; others, like Cuban, John, and O’Leary, assign the deals to a member of their respective teams and check in when needed. But all are focused on turning a profit. “The Sharks are on a TV show, but their main priority is making money,” says Burnett. “Some of these businesses can make them millions and millions.” Their involvement goes far beyond just getting the companies launched. As Daisy Cakes—the Pauline, S.C., bakery Corcoran invested in during season two— stumbled in the past year (quality declined when owner Kim Nelson switched the baking to out-ofstate facilities), Corcoran put her foot down. “She said, ‘There’s only one answer, and that’s to take the cakes back to Pauline,’ ” Nelson says. “ ‘You and your mother make them. Make as many as you can and fill the orders as you can.’ It was the right decision.” Stories like that have helped the Sharks change the country’s perception of business moguls, who have long been equated with the toxic likes of Wall Street’s Gordon “Greed Is Good” Gekko. “We’re entrepreneurs helping fledgling businesspeople,” says Greiner.
14 | march 16, 2014
© PARADE Publications 2014. All rights reserved
fellow traveler used a choice epithet and told the Shark, “You took their soul away!” But O’Leary insists, “I’m not mean. I’m telling you the truth every time. It may not be your truth, but it is the truth that matters.” Even when they’re out of the tank, the Sharks find themselves besieged with pitches. “Every two seconds, someone’s coming up,” says Cuban. Recalls Corcoran, “I was with my son celebrating his 19th birthday in a restaurant and a woman interrupted me in the middle of singing. ‘Do you have a minute?’ I’m like, ‘No!’ ”
Now that Shark Tank has become a hit, Burnett says he won’t be tinkering with its formula going forward. “It’s like imagining a sports team that’s winning the championship,” he says. “The last thing you’d do is change the formations.” Which means that the biggest changes ahead lie in the viewers themselves. “This is a wide audience of Americans who want to improve their lives,” says Burnett. “We’ll never know how many people out there have started something as a result of watching Shark Tank. And that’s great.”
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here’s the Pitch Top, Corcoran loved Kim Nelson’s Daisy Cakes; middle, Al “Bubba” Baker’s ribs hooked John; above, Greiner tested Charles Yim’s Breathometer, a breathalyzer that plugs into smartphones, in which five Sharks invested.
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Adds Herjavec, “Shark Tank shows you don’t have to be a jerk to be successful.” Well, except perhaps for Mr. Wonderful, whom viewers love to hate for bluntly eviscerating many inventors’ dreams. When O’Leary was first recognized—in an airport bathroom during season three—“we got in a big argument about something the guy had seen the night before,” he says. The
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