In This Story
Daniel Lubetzky, the entrepreneur behind Kind Bars, will join the panel of investors on the ABC (DIS+0.73%) series Shark Tank – as the first new, regular Shark in more than a decade, the network announced on Wednesday.
Lubetzky, 56, has been a recurring guest Shark on the program since 2019, investing in products including Yellow Leaf Hammocks and HummViewer. He will join a panel of regulars that includes Barbara Corcoran, Lori Greiner, Robert Herjavec, Daymond John, and Kevin O’Leary.
“As a Guest Shark for the past five seasons, Daniel has earned his spot with the Sharks,” said Shark Tank Executive Producer, Clay Newbill.
“He is a self-made founder of a multi-billion dollar company, has all the qualities we look for in a Shark, and possesses an authentic desire to help entrepreneurs grow their businesses. Daniel is a welcome addition to our panel and we look forward to working with him for many seasons to come.”
Lubetzky recently sat down with Quartz to discuss the enduring appeal of Shark Tank, his approach to investing, and how he uses the mistakes he made in growing his businesses to assist the entrepreneurs appearing on the program.
The newest season of Shark Tank will premiere on Friday, October 18 at 8 p.m. ET / 7 p.m. CT on ABC and is available to stream next-day on Hulu.
Quartz: You’ve been a frequent guest on Shark Tank in the past but now you’re going to be the first new full-time Shark in over a decade. Is the new role intimidating?
Lubetzky: I wouldn’t call it intimidating but it is intellectually challenging and stimulating. Sometimes stuff comes to me two or three days later because I’m processing. And then I might be walking with my wife on a beautiful day and suddenly I think, ‘oh no! I should’ve said this!’
When we finish filming the producers will sometimes say ‘you were too quiet.’ I’m usually very comfortable talking to people but with “Shark Tank,” the studio is big and you’re dealing with four other Sharks and with entrepreneurs. You don’t have information ahead of time, so you need to develop pattern recognition. I wouldn’t say that it’s intimidating, but it definitely keeps me on my feet.
Quartz: How have your experiences as an entrepreneur assisted you during your past experiences on Shark Tank? How do they enable you to better advise entrepreneurs?
Lubetzky: I’m a very good Shark because I made so many mistakes on my road to breaking out. Prior to launching Kind, I spent 10 years running a company called Peaceworks. I didn’t know what I was doing and I made mistakes – but I learned through those mistakes and I got Kind right.
For the first 10 years, I was a one person operation and I was learning so much. I made every mistake you could make, in every area of the business. And then I also happened to build a $5 billion business. And that combination – of making every possible mistake and building a successful company – is very rare.
Quartz: When you’re choosing to invest in businesses, are you just looking at the idea or do you think about the whole person – including their worldview and how they present themselves?
Lubetzky: I’ve always taken a human-being first approach – I’m very relationship oriented and I’m oriented towards the long term. For me, integrity carries the most weight. If I have any doubts about that, I’m not going to invest even if the product is good. These are fledgling enterprises that are going to require a lot of help. If I’m going to be in the trenches with someone, I want it to be someone that I enjoy helping.
Quartz: What is it about Shark Tank that keeps viewers coming back after 15 seasons?
Lubetzky: First of all, it’s a very noble show – even though there’s drama and entertainment, the producers are very noble. They really try to help the entrepreneurs, and it’s very clear that they have the right intentions. There are no punches below the belt.
They’ve also cracked the code on how to teach entrepreneurship in an entertaining way. I watch the show with my kids and use it to teach them. Sometimes I pause the show and ask my children, for example, ‘what does that imply about valuation?’
I also think that in a time with so much division, it’s a show that unites all Americans and teaches us about one of the most powerful forces in society: the American enterprise system. It teaches us to be kind to each other and support one another and to build together.
This interview has been edited for length and clarity.