Imagine how foolish you'd look if, like one clever salesman who once pitched to me, you tried to license your product to a big industry player without knowing they just launched a competing product. With the right background research, he could have avoided that and other landmines - and so can you.

I'm proud to be on the CBC and to see the management here represents both sides of every story. This is what's unique about the new CBC: you get a Kevin O'Leary on it when five years ago you wouldn't.

I keep anywhere between 5-10 percent of my net worth in venture ideas.

I'd rather invest in an entrepreneur who has failed before than one who assumes success from day one.

Imagine bringing Canada into a trillion-and-a-half of deficit. That's insane.

If you put Canada into $1.5 trillion in debt and interest rates go up just 200 basis points, you cannot provide the services to 36 million people that were guaranteed to them in the social contract they have with Canada. That's a very, very scary prospect. You can't burden this economy with that much debt. The risk you take on is insurmountable. You have to assume for the next 50 years that rates don't go up? That's insane. That's irresponsible. That's stupid.

As far as I'm concerned, Twitter has wiped out Facebook. I'm done with Facebook.