DO THIS To Turn $30,000 Into $3,000,000! | Kevin O'Leary & Sam Sheffer

[Music] hey everybody mr. wonderful here with another episode of ask mr. wonderful you know I gotta be honest with you it's my favorite show I love it because it's your questions that make it happen and today we're gonna take a little drive down a tech alley with an amazing guy who's gonna be really useful and answering some of these questions so let's not waste any time we're gonna jump right into it everybody meet sam Schieffer hello that's it that's all you got I'm waiting for you Kevin you're driving the bus here I got it I want to know Sam where you came from everybody does what makes you special in the tech world how'd you get these followers what's the story on your journey into YouTube and why do you love tech so much those are multiple questions fast on your feet when you're working with me all right give me give me like two minutes I'm from New Jersey born and raised I come from a relatively big family I've got an older brother and two younger brothers so growing up I we had video games in the house computers I remember burning CDs it's using Napster early on Kazaa LimeWire all of those things using Napster illegally shame on you that's right and just being really on the Internet in the sort of early in late 90s and I remember getting on Twitter relatively early and I somehow landed a job at a website called Engadget when I was 19 years old a truckers and I worked at Engadget for two years remotely and then all the editors left and gadgets to start a new website called The Verge in 2011 and I was a team of one running social media for The Verge it's very early on in the social media game yeah yeah yeah it's been interesting to watch the last decade of kind of there was I remember there was a time where people thought Twitter was not gonna last and now Twitter is one of the most important platforms like of our life and then from the verge I started dabbling in video a little bit I've always my dad actually used to have camcorders around the house all the time so I've been exposed to cameras basically my whole life and then really when I was at the verge I kind of just volunteered myself we did a daily tech news show called 90 seconds on the verge and everyday I would volunteer to film the show cuz I you know I love tech news and you were shooting on what old videotape hey yeah right we were shooting on I think Canon c100 I personally was never really behind the cameras always in front of the camera which was nice and then from the verge I worked at Mashable I was there from 2017 no I was there from 2015 to 2017 I ran our snapchat discover channel so we had a tech focus snapchat it was like a snapchat only show and that was kind of crazy because we'd make a dozen pieces of content every day Kevin and then they would disappear after 24 hours 7 days a week for a long time but but that was the format that not only were you gonna do it that way I guess but you somehow found a way to stay engaged with people that want to hear what you've got definitely and I it's interesting I I don't really consider myself like huge like I have friends with literally millions of followers on Instagram and Twitter and tens of millions on YouTube and I think that people that follow me are sort of in it for the long journey where some of my audience knows me from when I was literally 21 22 years old working at Engadget in The Verge some people only know me from YouTube but when you consider yourself though a social media entrepreneur because you're trying to use these platforms in a way that you can monetize them and you can eat yeah yeah and you know in some ways if you go back just 20 years everybody want to be a rock star and everybody wants to be a youtuber and you think about the same desire not everybody makes it what do you think differentiates so let's call it let's call the hurdle it's not easy to get 50,000 subs subs or subscribers it's not easy to get 100,000 it's nearly impossible to get a million and that's what it takes over time to live off YouTube and have a successful entrepreneurial business that's right what differentiates the winners and the losers let's just take one platform let's just go YouTube for a minute here because we're on this platform right now who did like how is it determined who who gets the light to shine on them in the rest day in the darkness I think there's a couple of facets that go into this consistency is really really important I think does that mean when you say consistency that means if they're time to release every week does it mean the quality every week yes I think it's it's a combination of just upload a damn video to YouTube and continue to upload videos to YouTube where you know they're huge time commitment for anybody that wants to go down there yes and and I think that part of it mentally you need to go into it with you know like obviously if you're trying to make a business out of it that's a great angle but you need to find enjoyment out of it if it starts to feel like a burden on you and you think that's the dream of YouTube or you can find a passion a topic matter you love like tech for you and all of a sudden get a following just like a band has a following in the old days you have to sell album to your band you know fans and here you are building up a franchise of people that want to care about give a damn what you think number to trust what you say and see consistently get content from you and a quality they're used to that sounds like the magic to make it work I so I have a very specific good anecdote for you so I publish not as often as I should and what is that what's the frequency at this point Kevin I would say it's like I try to hit once a week but realistically it's like twice a month but I'm I've very much like up to the quality where if you go back for my older videos audio is not as good the just the I used to only shoot in 1080 now I only shoot in 4k and it really makes a difference but the the consistency aspect I remember early 2019 I was just going super hard on YouTube just like getting really consistent I had a it's nice to have like when you have like two in the hopper three in the hopper where you're like ahead of schedule where you have two videos ready to go with a bow on them and you can publish them whenever you want that's a dream if you can that is and and I I basically have I work with one of my younger brothers who's also my roommate he quit his job in banking to help me make youtube videos and is he eating protein he is he definitely makes protein shakes on some well but no we've we had a really good 2019 there was one video the whole point I'm making Kevin it's it's usually just takes one single video that could really put you on the map so I made a video called Instagram story hacks five things you probably didn't know you can do and Instagram is just so hot where there's so many people just searching on YouTube because YouTube is the second largest search engine in the world second to Google enough people are searching Instagram story tricks Instagram story hacks so I hit it good with SEO in the title and the tags and it got like 30 or 40 thousand views in like two or three days so I was like alright cool I had like I don't know a hundred eighty thousand subscribers in one week it just shot up in the YouTube algorithm that video is five and a half million views and I've gained 49 thousand subscribers from a single video so there is a music analogy to that it takes one big hit to get your band on the map and then people want to listen to what else you've got it's great analogy to YouTube let's jump into some questions because I've got a whole ton of questions there tech origins your beginning you're gonna be the right guy to co-author these answers with me which is what I love to do in collaborations we have a lot of fun so let's listen to what these people are asking and think about how we can help them advance their cause because everybody asks these questions for a reason they're trying to do something better faster a business and entrepreneur decide if they want to actually get into something in terms of a new idea in tech and everything in tech has been done before it seems until the next big idea comes along so let's start with this this is from Charlie Charlie what do you got for us hey mr. wonderful we're rapidly entering the age of autonomous cars do you think car ownership will continue to be a priority for most or do you see people preferring to use them as needed via a subscription service hmm you know that's a great question that has a great question there's a lot he's insinuating a lot what he's basically saying is if everybody's willing to jump in an autopilot a cart on this car why should you own it so let's start with you what do you think about this question because it has a lot of implications on how you would invest in car companies a la Tesla which is a hot stock right now what do you think what's the answer to charli's question there's a lot to unpack here I am first of all I'm extremely bullish on Tesla Elon has now completed part one of his master plan I think that I am personally a little bit in my own bubble because I've lived in Manhattan for about seven years now and I haven't you know really owned those are the Manhattan police sirens I hear that they're constantly there's noise here so like my use for car I've rode here on an electric longboard my use for a car is effectively zero right now like I wouldn't I did pre-order cyber truck because I don't know where I'm gonna be when I think ships in two or three years but I think that in terms of autonomous vehicles we are definitely and I hope going toward a future where cars drive themselves I make this analogy with sort of naysayers that are like the cars can be hacked and this and that and I say when you pick up your phone to call your mom or your cousin or your boss and you send a text message or an email you're not worried about someone intercepting that call you're not worried about something getting hacked yes there is a chance that something catastrophic could happen but I think traffic deaths in the US alone in 2017 or 2018 was like upwards of 35,000 you think those are the way down once cars are watching themselves yes I think so I have used driving has a promise of making me maybe making it safer I agree with that do you use you own and operate a an electric vehicle I do and I'll tell you my answer this question comes from experience yes in a rather different way my son's electrical engineer in his third year decides to take an internship at Tesla we're sitting at the kitchen table he gets invited he accepts he's really interested because he was on the car team at his college and a lot of people don't know this every cohort engineering electrical engineers race f1 formula cars they built from scratch against each other MIT generally would beat everybody but in this particular Nebraska race Trevor who was the captain of the team beat MIT now of course at all these races the tests like guys and all in the BMW guys and the Audi guys and the Ford guys are running around meeting these teams so his team did very well he's a not sort of a battery management side he got an internship but here's the story we're sitting at the kitchen table I'm looking over at my screen because I managed you know I'm in the financial services industry with ETFs and I'm looking over and Tesla's down 13% because they missed a quarter or an analyst said too short the stock or whatever I said to Trevor this company looks like a dog this thing is down so much he said dad nobody understands this company this is not a car company it's a data company it has the highest resolution of miles driven on earth every time a Tesla drives it reports back to HQ and makes the resolution of that road even clearer for future autonomous driving and I said what does that mean Trevor should I not think if this is a car company said no think about it as a data company with extremely high-resolution data and you should own some so I bought some stock you know this is the highest return on any stock I own because that was the low that day just by happen chance and I'm up like I don't know 90% and it's the car company barely makes any money this is why I always listen to people that know more about something than I do and Trevor clearly understood that he had a different vision for what Tesla was he loved working there but to me that is the future and boy am I glad I own that stock and to Elon who I would saw recently out in LA I thanked him I said listen Elon all I know about you is you've made me money hahahahaha and that's a good guy it is great but let's move on I think you said it we're both pretty positive on that thank you for your question Charley I love the randomness of these clothes I just never know that gets pretty broad these days I'd say Michel is asked asking this question I'm so wonderful I have a question for you that if you had $30,000 in the bank stored up from my savings that you have as a students working would you invest at all or would you do the 10% everyone the best only 10% of it and only invest 10% for income out of time should I save it for my graduate school or invest it Sam tough question 30,000 per student he's not even in debt but he's going to go into debt if he goes second post-secondary college right that is a really tough question to answer ouu take it first I wanna hear us is it's very simple for me I hate debt Michelle I hate that I can't stand debt if you have $30,000 invested in yourself in college but don't go into debt while you're in college do what I did get a job at night I was slinging beer and I worked as a chef just so I never got into debt in college I hate that but I would not invest it until you're finished your journey and I look at it this way you should make a decision if you're gonna take thirty thousand dollars that are in the bank right now you better invest in a degree that makes sense in terms of monetizing it and I've said this many times I get criticized for it all the time the top three for me engineering number one engineering number two and engineering number three and if you want a fourth choice go with engineering because if you have the aptitude to do that the chances you won't be employed are practically zero and you'll make lots of money everything else I don't know it's hard to say what do you think Sam this might sound a little crazy but I don't $30,000 is not that much in the grand scheme of things like if if you if you don't have it yes but but if if this person's thinking in you know sort of ten years from now hopefully they're gonna have much more than thirty thousand not a it should make seven percent a year if it's invested in the market the question is should you go in debt instead of using that to get to invest in your own education and here's another further question if you don't really believe in your education that you would invest in it what the hell are you doing that's right that's right I think I think Michelle should take it upon himself to you know ask himself what does he really want if he's if he's okay with investing the thirty thousand into himself you said to pursue the education then hopefully he'll be able to make a ton more money that he can recoup that debt if need be are you okay with let's say you had three kids and they all want to do history and the liberal arts and pursue music and you're still paying for all of their lives I mean this is a very touchy question yeah people feel I'm not against the arts at all but you have to have a plan that you can actually separate from your parents by the time you're 18 and make it on your own what's the strategy you know what's funny is this is just speaking solely from my perspective you found a way I really didn't have a plan frankly I your father still writing you a check every week no no no no my parent I haven't really taken money for my they pay for my phone bill and that's literally it I've been paying rent for yeah probably seven years now you're in financially oh yes super financially independent your mind every week you're thinking about how do I live my life in a way that I can afford it well how can I live my my life in a way this this is gonna sound a little bit also a little bit crazy but we're talking here why not I think money is is super fascinating especially in this like future that we live in because there's everyone in the universe is bound by money but you really don't need like a hundred million dollars to like find you know inner peace with yourself like I have a moderately good-sized apartment in the East Village in Manhattan I'm able to like buy my meals going out I'm not a Multi gazillionaire but I'm also not like you know scavenging for for pennies and nickels here I've worked really hard for the past ten years but I think it's important to like take a look at what you want like how are you able to wake up every morning and say like I'm gonna go work and for me it's for myself and be able to save money and just like not go crazy about like where's my next dollar because you're not under stress that many people if they don't know where next month's of rent is that's right that puts tremendous stress on you physically always being in uncertainty and not knowing or being in such so much debt that you might face personal bankruptcy which changes your life forever it's right and you know hurts you in many in the future I think this issue is an interesting one because you sound like you're a happy guy you found a a medium where you're you know you're not starving and you're happy what you've built for yourself and you're able to pay for yourself that's right and so I think that's what everybody strives for and so what in regard to you know Michele's $30,000 he's making a decision about launching himself to get to where you are eventually yeah and he may start with that in the bank or he may decide to invest it in college or you know in in master's degree or something like that but I always tell people all the time when you're looking at $30,000 you saved hard and you're gonna invest in education you better make it something you can get back that's right and so whatever makes you happy and actually something that you're good at maybe you'll get them employed in it because not everybody's gonna be an entrepreneur but I love that question and I just want to add one more thing also like with patients I mean this person if they're still undergrad you know 19 20 21 years old that $30,000 if they go pursue you know get a master's degree in engineering or something they're they're looking at a hundred thousand dollar salary in their first year possibly master's degree in engineering it costs you 60 to 80 grand including that's right it ain't so so patience right you take hit pause on your life and and then you know press play when you're 25 26 after you've been working for four or five makes the assumption you've decided this career path will get me a job which is something you got to think about if you're gonna part with $30,000 that's all I say to people think about it I mean just think about it I get the high school journey but when you go in and you start paying for college that's an investment in yourself make it worth it like going to college and just blowing your brains up partying is a real waste of dough if there's no outcome in the other end which is the mistake I made when I went to college my dad said you're gonna starve to death you better go back and get a master's in business cuz you are going to just have no income and that's what you did yeah I was a shuffleboard expert you know and I went did arts and it's a long step I made my money hustling shuffleboard against engineers who all got jobs and I was still at that's exactly what happened here's one from Luke what's the one thing that someone should if they want to improve their appearance but don't have unlimited funds interesting what's the one luke is asking what's the one thing someone should invest in to improve their appearance so he's making an assumption about how important appearance is but they don't have a lot of money what do you think that is should we unpack this here for a second it's an interesting question is appearance a haircut is it is is it your you know your apparel is it I think intrinsic and Luke's question is the idea that somehow the your appearance your image your image your brand your Karma what other people think about you when they first see you which happens every day people see you for the first time all over that's scary it's true though and so I think people should consider their brand their image the way they look and they can decide to look different ways for different groups but I'll give you an example when I go to meet with money when I'm in financial services talking about oh she airs ETS eyewear a crisp suit a white shirt a tie shiny shoes because that's what they expect to see when I'm sitting here with you here right now having a great time I'm selling my own merch by the way a time to promote this when I'm here pitching my own merch cold hard merch calm very exclusive shirt I just love this piece by the way I think we have a limited number but you'll learn more about it later but you know I'm always selling what can you say but my point is I want to feel comfortable talking with you and you're not wearing a suit so why should I and we understand each other on this thing so at the end of the day what's your answer to Luke what can you do you know have a lot of dough but you want to change your image what's the plan tough question is really tough question I would say authenticity like be comfortable with yourself you know you can look good in anything you could also look bad in anything if you get a weird haircut and you don't feel comfortable in it it's going to sort of like seep through and people gonna be able to sense that you're uncomfortable and you literally your own skin I also think good sleep is vastly underrated there's just like this you know I like I like that where's this notion of work work work I mean like you work jobs through college you know staying up all night like it's and it makes money but like quality sleep is vastly underrated so Luke if you're not getting a good night's sleep I think you should personally invest in in a really good night's sleep and it'll just make you sort of feel better overall and then just be comfortable in your own skin I'm gonna give you a little a little data that I learned a couple of weeks ago I got hired to be a keynote speaker to a group of HR executives human resources executive works for large corporations and when we were doing that the breakout after the keynote maybe I had 15 of them in a room no press no just open dialogue and I asked them a question because in these giant companies that they write policy books about appearance about apparel about protocol in HR but I asked them because I had a discussion with my daughter earlier that day about tattoos and inking yourself you know because everybody's doing it these days so I said to them I'd like to get an answer I'm not recording anything I'm not taping anything when when a candidate comes in for a job fantastic resume and they have ink on their face they've got a tattoo on their face of their neck or it's exposed in a way on their head does that in any way change your perception of them for the for the job remember no nobody's recording there was a really long uncomfortable silence but to a tee every one of them said yeah that freaks me out I worry about how the messaging is to our customers to other employees if they're uncomfortable there's a red lightning bolt across their forehead or imagery up the side of their neck and so I'm telling people and I'm not endorsing either way but if you're gonna ink yourself in your face and you're going into and you want to pursue a path with a large company and by the way a lot of these were tech HR guys with companies that you know that you want to get a job at they're not cool with it what do you think about that face tattoos exists in this really sort of like singular category like it gives off like I don't know III also like on the one hand to give off a rebel without a cause vibe there's a yes I don't give a what you think vibe yes I mean to permanently inks look nothing against people that tattoo themselves on their neck on their hands on their face but it's just like it sends a message you know it sends this is it a good message for your career this is the question we're trying to answer here if they're qualified it shouldn't matter it shouldn't matter do you think it does I am NOT a hiring manager Kevin but I think if I were to ever do risk it because there's always two candidates there's always two resumes there's always one in our case we're discussing here I would I would because you could always fire them if they're not performing interesting answers so you support that rebel nature because maybe what matters is their ability to execute maybe they're a brilliant mind but I I think my answer is I think they're selected against in a way that's not fair but it happens anyways so I just want the viewership to understand there's a risk to this it's not free and if you do it you're taking at least for some people you're telling them something they don't want to hear that's what I'm saying I have no tattoos if I were either do I but I have nothing against them I have no problem with it we have lots of and my companies everybody's got tattoos I don't give a but I'm trying to give advice to people they're trying to advance their careers in some amazing companies that I know they want to work at and these HR guys were clear they were clear so Luke no face tats face tests that's the first thing look that's good let's move on alright Michel what do you got for us Michelle hi mr. wonderful what do you think of the hype around 5g do you think it'll revolutionize our homes jobs and the way we travel or do you think it's largely just marketing hype Sam honey sweetie poopsie baby 5g that's right up your alley what are you thinking on 5g marketing hype or real benefit both story time when I was a truckers I remember the iPhone 5 came out Rutgers universities in New Brunswick New Jersey and it was first cities to light up 4G LTE LTE is long-term evolution it kind of got bundled like 4G was the fourth generation of wireless tech for smartphones and then like branding sort of blended like 4G LTE it's the same thing anybody even understand what the hell that means no no it just means about how fast can you scroll through Instagram without waiting for the video to buffer basically for halt that that's if you understand what that is sure sure it's it's how fast are you basically pulling data from towers which are getting data from satellites it's when I was at Rutgers and I remember vividly I would do speed tests on my iPhone 5 or 5s whichever one had LTE first I think it was the five I was getting like 50 or 60 down which is pretty good speeds even by today's standards this is this is literally 2009 2010 there's a lot less pressure on the network at that time that's exactly what I was going to get at there was no one else that had an iPhone with LTE every guy and their dog is putting pressure in the network that is right so in the beginning days LTE was fantastic I remember just being obsessed with doing speed test I was getting sometimes over a hundred down like in a moving car and I was like this is awesome this is like faster than my Wi-Fi at home this is ten years ago now the networks are so congested that no matter where like we are in New York City one of the most densely populated cities in the world no matter what network you have it is not great the promise of LTE and 4G didn't really I in my opinion pan out to be some super extraordinary thing like it there are times where my data is great where I can you know brow is tick-tock and watch YouTube videos about buffer and then there are also times where my data is like yep this is this is cellular service in 2020 and it's it's not great I think we are at a time right now where Michelle if you go spend the money on a 5g phone and you go on Verizon or you go on t-mobile there's like the oneplus 70 Pro has a 5g version I think one but how far what what's the distribution of 5g right now and even major major let's talk Chicago New York's Miami LA maybe Houston maybe Dallas a little bit of technicality here there's a few different thing it's it's basically it's all marketing right now for now yes for now of course companies are gonna race to say we have the first 5g Network Verizon is doing the millimeter wave 5g so five G in order to roll out the infrastructure there needs to be physical boxes these literally gray boxes no matter who you are you can be Verizon be ATT you can be anybody else you still need the 5g boxes there are these and that there are a density of the vicinity of those boxes alright I'll answer your question without spewing too much text yeah don't make it so tough okay shame on you right now 5g is I would say 75% marketing and 25% practical where you need to be in a 5g city in order to take close to the transponder yes marques Brownlee who was a guest on your show a couple of weeks ago has two great videos on his channel about 5g if you're interested in 5g go watch his videos he explains it you need to have a direct line of sight you need to be in a city where these boxes are I would say Michelle this is January of 2020 let's talk again and I've literally 2020 to let Apple put out a fight I think Apple might do a 5g phone this year but the networks aren't ready yet I have a different take of this from a practical reason I travel sometimes in a week to seven cities the internet is everywhere really is and I carry two phones with me would you pass that that blue one on the table there the reason I carry two phones these are live two phones multiple accounts is winter four networks seven different networks one is 81 is Verizon because in any city one of them doesn't work I know they like to say oh they're the best no they're not they don't work you have to if you're on the East Coast you want Verizon if you in the West Coast 180 in the hills of Hollywood you've got garbage nothing works in the hills of Hollywood the point is between the two of them they have a lot of work to do and I love both these companies I don't want to bash them because I know how hard it is but the internet in America should like electricity when you turn it on it should work and you should never be you know crapped out in it the way I am all over the place I think and my hope is that 5g in the next five years will make it ubiquitous like electricity so the devices and people can work together and have a consistency that we don't have now and I'm saying this on the record the internet sucks mobile Internet it's it's absolute I expect so much more so for both Verizon AT&T and all the other players in here you guys have a lot of work to do because mr. wonderful is very unhappy and I'm not the only one you know exactly what I'm talking about let's take another question here I love that question that was great all right John hit us hey mr. wonderful John from Kentucky I just wanted to know your opinion on moonlighting a business if you have a full-time job and a family full of hungry mouths to feed and say you're in my position and you're the sole breadwinner of your family wants to know your thoughts on any extra profit from your moonlight business how should you use that what would you do if you were in my shoes and you just started a moonlit business thank you for your time you have a good day very interesting question he's basically at a point in his life where he has to feed the kids pay the rent make sure the family's okay and still he wants to be an entrepreneur what do you think money's got to come from somewhere you poo-pooed money earlier in the show now you're thinking how tough it is for this guy well I don't have a wife or kids that could happen he generally does it generally does if he's in that position now he didn't say how old he is it sounded to me like he was in his mid 30s okay yeah so he has a side hustle as we'll call it right that he wants to pursue as that's what he means by this moonlit business that's what it is at night he has no other time he's got to work all day National Tire days he works all day has little maybe some time with his kids they go to bed and then he goes to work again that's tough it's it's it's like always a question that I you know a lot of people ask like how do you know when to and I hate to say it like give up or shift focus or something like that because if he's if he's been pursuing this business for you know three four you can't it's too risky to jump at this point okay I'm gonna give him some advice here because you know better than I do you know it's just sort of the realities you have to take care your family your family is always number one you got to make sure they're safe and fed and you're providing for them and that is your role as that in this case you sound like the patriarch of the family by the way there's many cases where women have taken over they're making more than men and the way it should be is they become the matriarch of the family I'm cool in either way I don't care but the point is somebody has to take on the responsibility often it's together family first this side hustle if it starts to work you should take every dollar you make and retire your deck get rid of your mortgage that's a perfect way to set up for the point when you can actually jump ship generally jumping ship in a new business I'm gonna give you a number it's three million in sales why is a three million because most businesses after tax make 10 or 11 percent some make more but that's the average after tax on all your costs so you're doing 3 million in sales you're kind of making 300 grand a year and you got to be paid for the risk you're taking now maybe you could do it a 2 million but I like 3 when your business is doing 3 on the side hustle you jump ship you quit your job boom you spend full time but that's after you got yourself out of debt nobody says all that sounds impossible not true if you really want to make it happen you're gonna bust your ass like this guy is doing working at night but if you've got something that's real and sales continue to grow you can jump off somewhere I'll give you 2 million or 3 million but not with nothing in sales because you don't know if the product the product is proven yet I like that question but I love entrepreneurs that are willing to work basically 25 hours a day the guy doesn't need sleep let's hear from Valerie Guren Hauser hey mr. wonderful 3d printing is here but so far it's only been used for proof of concepts and models do you think this technology is ever going to be used for mainstream manufacturing and if so what do you think that will me for everyday consumers let me set up something before he answer it's been a huge disappointment for investors it's been on the market for over a decade HP went nowhere with it so many companies have you know heralded the advancement of 3d printing the technology slow as hell it's not user friendly to work with it hasn't proven itself yet other than modeling and doing prototypes what's going on with 3d printing I think there's a consumer Avenue and then there's the sort of Enterprise Avenue for 3d printing because okay make sure take on both for me a consumer Avenue of 3d printing is like backing a 3d printer on Kickstarter like the MakerBot was a huge huge success on Kickstarter and they're still producing them to this day I think it's a cool I don't want to call it a toy but it's like a cool gadget to have in the house if you're growing up with you know young kids or if you're raising young kids having a 3d printer in the home can you know sort of spark their imagination to create whatever you want that's assuming they can connect with the CAD software to actually drive it right yes but you gave it give the kids some you know some benefit of the doubt here maybe teach them a thing or two just saying I'm cool with it but it's very rudimentary compared to what the potential of this technology is so I mentioned earlier on the show I we had video games in the house growing up and might you know my parents kind of just like got us computers and all this attack I was always around tech and I think that you know that really helped spawn my love for technology from a very young age and I think if a you know a household has a 3d printer in it whether it's like printing a little toy that they find on Thingiverse or they you know something breaks and they can you you like it as a I'm not going to call it a toy as an implementation of creativity yes so you think it has merit for that so yes family getting one has some kids they explore it on their own cool it's a cool thing how many homes do you go to that have a 3d printer same-same it's not to be a reason for that it might be price it must be complexity of use I think it's barrier to entry seems high right in terms of price well in terms of how do you use it how do you you know what's what extrusion are using how do you where do you get the software from there it seems like a very hard thing to just like you can't just pick up a book you can pick up a book and read it you can't just pick up a 3d printer and print you know for investors it's been a bust I mean it never drove hewlett-packard into the stratosphere the way some people thought Epson anybody oh the pretty companies it never really took off as a mainstream you think about a color inkjet printer everybody has one that's right 3d printer use cases are I would say maybe we haven't found the proper use cases for a3 or really it was trying to solve a problem didn't really exist yes but then there's also the enterprise route which there are a couple of companies that are there's one company a particular icon that is 3d printing cement homes and so so there's that aspect of it where I need to get one of those from my backyard there you go so you could find use for it right is that such a vertical and so expensive to make one that can actually build a wall with windows and holes for electricity so so I read up on this recently the the icon house apparently costs ten thousand dollars to build and whether that's cost the machinery or just cost of goods or whatever it is there's also another company that's doing aerospace they want a 3d print rockets I don't think that they've sent a rocket out or space yet I will say though there's one company called gravity industries there's a gentleman named Richard browning who built himself a fully functional jet suit and they 3d print with metal and a bunch of other materials they 3d printed this sort of suit and the structure it's jet engines that I'll send you a link after this I made a video about it it's it's incredibly advanced technology for what it does is what you're saying yes but it is not a consumer lit-up product yes definitely not and and all that over the last decade just hasn't come - it's not a TV it's not a computer where every household house by so much tech but I have never felt the desire to go research 3d printers because I got to have one because you have new use for one yeah exactly so I think bottom line is yeah I don't think it's gonna go anywhere except for the verticals you talked about in an extreme case but it's advanced technology for some industries that use it to become more productive and that's cool I think it's cool it's not going to be a big consumer product perhaps it's just too complex to use maybe too expensive listen it was a fantastic episode I've asked mr. wonderful with a great guy Sam here knows tech we had a terrific time and you know it's funny the questions always come in on a more personal basis but somehow technology always creeps in Sam thank you so much thank you Kevin great to be here great to have you and you know welcome to my office in New York yeah it's a good one take care everybody see you next week

Channel: Kevin O'Leary

Views: 788,571

Keywords: Shark Tank, Entrepreneurs, Entrepreneurship, Investment, Business, shark tank, kevin o'leary, mr wonderful, ask mr wonderful, business advice, luxury lifestyle, ask kevin o'leary, kevin o'leary best advice, shark tank behind the scenes, kevin olery, shark tank best pitches, earn money, lori greiner, best advice for entrepreneurs, how to start a business, how to make money with no money, that will double in value, #1 key to success, how to be successful entrepreneur

Id: zSkdWqs2zAg

Length: 40min 27sec (2427 seconds)

Published: Wed Feb 19 2020