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This story is part of a new series of features on the subject of success,Benzinga Inspire.

One of the Sharks featured on Shark Tankmay have broken one of his investment rules with a recent Shark Tank deal.

What Happened: Mark Cuban likes to invest in companies that have products he could see himself using or that could be used by the Dallas Mavericks, the National Basketball Association team he owns.

On a recent episode of Shark Tank, Cuban offered a deal for a company whose products hell likely never use.

Season 14, episode 15 of Shark Tank aired in early March and featured a pitch by makeup company Youthforia.

The company launched in April 2021 and had $2 million in sales prior to appearing on the episode, according to CNBC. The company had seen some levels of viral success thanks to TikTok and mentions of its color-changing oil blush that reacts and blends into customers skin. On TikTok, Youthforia has over 130,000 followers and over three million likes.

The Sharks liked the TikTok success and were also impressed with the companys founder and CEO Fiona Co Chan.

Kevin OLeary offeredCo Chan $100,000 for 20% of the company along with a $300,000 loan and a cut of distribution pay.

Its a bet on the jockey on this deal, OLeary said of Co Chan. Youre really impressive.

Co Chan wanted to hear from the other Sharks, with Cuban and Barbara Corcoran not putting out bids yet. Co Chan tried to lure them in by saying there was a launch of more shades of blush coming, which neither was thrilled about.

When you have something thats completely differentiated, you ride that, and you dont do anything else, because that just dilutes your efforts, Cuban said. Sometimes, you shouldnt listen to your customers.

Co Chan turned to OLeary and offered 5% equity for $400,000 and a 50 cent royalty for each unit sold by the company up to $500,000.

OLeary countered with an $800,000 offer for 10% equity and a $1 royalty on each unit.

This is when Cuban decided to step in, offering $400,000 for 10% without a royalty and said the reason he was interested in the makeup brand was because his daughters and wife would understand the product, which he didnt.

Cuban offered to wear the color-changing blush himself as part of demos.

OLeary countered with a $400,000 offer for 7.5% and a 75 cent royalty on sales up to $1 million.

Ultimately, Cuban got Co Chan to accept with his final offer of $400,000 for 8% and no royalties, which he offered just to prove a point and ended upbeating OLeary.

Related Link: Mark Cuban Made $18,000 A Year And Got Fired: 5 Things You Might Not Know About The Billionaire

Why Its Important: The company and Co Chan drew praise from the Sharks during portions of the pitch and after Cubans offer was accepted.

Herjavec and Corcoran, who sat out on the offers, said they were impressed with Co Chans negotiating skills.

Kevin, you have to get up and leave the Shark Tank, Herjavec said. Fionas taking your chair.

The offer for Youthforia that was accepted makes the first deal Cuban has ever done with a makeup brand, which could provide several lessons. Cuban has often stuck to his principles in investing in products that he would use himself or the Mavericks would use.

Hearing how much the other Sharks loved the company's CEO and the product going viral on TikTok, Cuban trusted in his family and made the investmentbecause he could see his daughters and wife using the product.

Youthforia is available on Amazon.com and also atUlta Beauty ULTA stores. While we wont likely see the makeup products at Mavericks games in the future, they could end up becoming a staple in the Cuban household.

Read Next: Mark Cuban Backed Startup Delivers Charging To EVs Just Like Ordering From Uber Eats Or GrubHub

Photo:Gage Skidmoreon flickr

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World

US blocks Palestinian President Mahmoud Abbas and 80 other officials from United Nations’ annual meeting in New York

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US blocks Palestinian President Mahmoud Abbas and 80 other officials from United Nations' annual meeting in New York

Palestinian President Mahmoud Abbas and 80 other officials have been blocked from attending September’s annual meeting of the United Nations General Assembly in New York.

US secretary of state Marco Rubio has revoked the US visas of delegates from the Palestinian Authority (PA) and Palestine Liberation Organisation (PLO), and denied others from applying for one.

It is the latest step by Donald Trump’s administration to target Palestinians with visa restrictions, and follows the suspension of a programme to allow injured children from Gaza to receive treatment in the US.

Mahmoud Abbas addressed the general assembly in 2024, but is barred from next month's meeting. Pic: Reuters
Image:
Mahmoud Abbas addressed the general assembly in 2024, but is barred from next month’s meeting. Pic: Reuters

“It is in our national security interests to hold the PLO and PA accountable for not complying with their commitments, and for undermining the prospects for peace,” a statement from the US State Department said.

It added that, to be considered partners for peace, both groups “must consistently repudiate terrorism, and end incitement to terrorism in education, as required by US law and as promised by the PLO”.

Offensive will cause ‘intolerable deaths’

Several US allies, including France, Malta, and Australia have announced plans to recognise Palestine as a state at September’s United Nations General Assembly. Canada and the UK will too, unless Israel meets certain conditions.

More on Mahmoud Abbas

Israel declared Gaza’s largest city a dangerous combat zone on Friday.

The army launched a planned offensive that has drawn international condemnation.

Please use Chrome browser for a more accessible video player

Thick smoke rises from Gaza City after Israeli strikes

Foreign ministers from Iceland, Ireland, Luxembourg, Norway, Slovenia and Spain released a joint statement saying the military operations in Gaza City will cause “intolerable deaths of innocent Palestinian civilians”.

Gaza latest: Israel’s Gaza City offensive condemned

Hundreds of thousands of Palestinians are sheltering in Gaza City while enduring famine.

An Israeli armoured vehicle in northern Gaza on Friday. Pic: AP
Image:
An Israeli armoured vehicle in northern Gaza on Friday. Pic: AP

Palestinians ride a truck carrying humanitarian aid in Gaza City. Pic: AP
Image:
Palestinians ride a truck carrying humanitarian aid in Gaza City. Pic: AP

The Palestinian ambassador to the United Nations (UN), Riyad Mansour, said Mr Abbas had planned to lead the delegation to the UN meetings and was expected to address the general assembly at the general debate, which begins on 23 September.

He was also expected to attend a high-level meeting co-chaired by France and Saudi Arabia on 22 September about a two-state solution, a broad idea involving Israel coexisting with an independent Palestinian state.

The State of Palestine is an observer member of the UN, meaning it can speak at meetings but not vote on resolutions.

The State of Palestine cannot vote on UN resolutions. Pic: AP
Image:
The State of Palestine cannot vote on UN resolutions. Pic: AP

US decision ‘contravenes international law’

The Palestinian Authority “expressed its deep regret and astonishment” at the visa decision, calling it “a violation of US commitments” as the host of the UN, and claiming it “contravenes international law”.

UN spokesman Stephane Dujarric said the world body would be seeking clarification in the “hope that this will be resolved”.

Hundreds of diplomats left when Israeli leader Benjamin Netanyahu began speaking at the general assembly in 2024. Pic: Reuters
Image:
Hundreds of diplomats left when Israeli leader Benjamin Netanyahu began speaking at the general assembly in 2024. Pic: Reuters

The State Department said that the Palestinian Authority’s mission to the UN, comprising officials who are permanently based there, would not be included in the restrictions.

Under a 1947 UN agreement, the US is generally required to allow access for foreign diplomats to the UN in New York.

But Washington has said it can deny visas for security, extremism and foreign policy reasons.

Read more from Sky News:
Analysis: Israel is killing a lot of journalists
Hospitals ‘overwhelmed’ by malnutrition cases
Tony Blair meets Trump over Gaza

Follow The World
Follow The World

Listen to The World with Richard Engel and Yalda Hakim every Wednesday

Tap to follow

The death toll in Gaza has now risen to 63,025, according to the Hamas-run health ministry, which does not differentiate between civilians and combatants.

It also reported five more malnutrition-related deaths in the last 24 hours, bringing the total number during the war to 322, with 121 of them children.

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US

US blocks Palestinian President Mahmoud Abbas and 80 other officials from United Nations’ annual meeting in New York

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on

By

US blocks Palestinian President Mahmoud Abbas and 80 other officials from United Nations' annual meeting in New York

Palestinian President Mahmoud Abbas and 80 other officials have been blocked from attending September’s annual meeting of the United Nations General Assembly in New York.

US secretary of state Marco Rubio has revoked the US visas of delegates from the Palestinian Authority (PA) and Palestine Liberation Organisation (PLO), and denied others from applying for one.

It is the latest step by Donald Trump’s administration to target Palestinians with visa restrictions, and follows the suspension of a programme to allow injured children from Gaza to receive treatment in the US.

Mahmoud Abbas addressed the general assembly in 2024, but is barred from next month's meeting. Pic: Reuters
Image:
Mahmoud Abbas addressed the general assembly in 2024, but is barred from next month’s meeting. Pic: Reuters

“It is in our national security interests to hold the PLO and PA accountable for not complying with their commitments, and for undermining the prospects for peace,” a statement from the US State Department said.

It added that, to be considered partners for peace, both groups “must consistently repudiate terrorism, and end incitement to terrorism in education, as required by US law and as promised by the PLO”.

Offensive will cause ‘intolerable deaths’

Several US allies, including France, Malta, and Australia have announced plans to recognise Palestine as a state at September’s United Nations General Assembly. Canada and the UK will too, unless Israel meets certain conditions.

More on Mahmoud Abbas

Israel declared Gaza’s largest city a dangerous combat zone on Friday.

The army launched a planned offensive that has drawn international condemnation.

Please use Chrome browser for a more accessible video player

Thick smoke rises from Gaza City after Israeli strikes

Foreign ministers from Iceland, Ireland, Luxembourg, Norway, Slovenia and Spain released a joint statement saying the military operations in Gaza City will cause “intolerable deaths of innocent Palestinian civilians”.

Gaza latest: Israel’s Gaza City offensive condemned

Hundreds of thousands of Palestinians are sheltering in Gaza City while enduring famine.

An Israeli armoured vehicle in northern Gaza on Friday. Pic: AP
Image:
An Israeli armoured vehicle in northern Gaza on Friday. Pic: AP

Palestinians ride a truck carrying humanitarian aid in Gaza City. Pic: AP
Image:
Palestinians ride a truck carrying humanitarian aid in Gaza City. Pic: AP

The Palestinian ambassador to the United Nations (UN), Riyad Mansour, said Mr Abbas had planned to lead the delegation to the UN meetings and was expected to address the general assembly at the general debate, which begins on 23 September.

He was also expected to attend a high-level meeting co-chaired by France and Saudi Arabia on 22 September about a two-state solution, a broad idea involving Israel coexisting with an independent Palestinian state.

The State of Palestine is an observer member of the UN, meaning it can speak at meetings but not vote on resolutions.

The State of Palestine cannot vote on UN resolutions. Pic: AP
Image:
The State of Palestine cannot vote on UN resolutions. Pic: AP

US decision ‘contravenes international law’

The Palestinian Authority “expressed its deep regret and astonishment” at the visa decision, calling it “a violation of US commitments” as the host of the UN, and claiming it “contravenes international law”.

UN spokesman Stephane Dujarric said the world body would be seeking clarification in the “hope that this will be resolved”.

Hundreds of diplomats left when Israeli leader Benjamin Netanyahu began speaking at the general assembly in 2024. Pic: Reuters
Image:
Hundreds of diplomats left when Israeli leader Benjamin Netanyahu began speaking at the general assembly in 2024. Pic: Reuters

The State Department said that the Palestinian Authority’s mission to the UN, comprising officials who are permanently based there, would not be included in the restrictions.

Under a 1947 UN agreement, the US is generally required to allow access for foreign diplomats to the UN in New York.

But Washington has said it can deny visas for security, extremism and foreign policy reasons.

Read more from Sky News:
Analysis: Israel is killing a lot of journalists
Hospitals ‘overwhelmed’ by malnutrition cases
Tony Blair meets Trump over Gaza

Follow The World
Follow The World

Listen to The World with Richard Engel and Yalda Hakim every Wednesday

Tap to follow

The death toll in Gaza has now risen to 63,025, according to the Hamas-run health ministry, which does not differentiate between civilians and combatants.

It also reported five more malnutrition-related deaths in the last 24 hours, bringing the total number during the war to 322, with 121 of them children.

Continue Reading

Environment

China installs the world’s most powerful wind turbine

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China installs the world's most powerful wind turbine

China’s Dongfang Electric has installed a 26-megawatt offshore wind turbine, snatching the title of world’s most powerful from Siemens Gamesa’s 21.5 turbine in Denmark.

Photo: Dongfang Electric Corporation

The Chinese state-owned manufacturer announced today that it has installed the world’s most powerful wind turbine prototype at a testing and certification base. This turbine, the world’s largest for capacity and size, boasts a blade wheel diameter of more than 310 meters (1,107 feet) and a hub height of 185 meters (607 feet). Dongfang shipped the turbine’s nacelle earlier this month – the world’s heaviest – along with three blades.

This offshore wind turbine is designed for areas with wind speeds of 8 meters per second and above. With average winds of 10 meters per second, just one of these giants can generate 100 GWh of power annually, which is enough to power 55,000 homes. That’s enough to cut standard coal consumption by 30,000 tons and reduce CO2 emissions by 80,000 tons. Dongfang says it’s wind resistant up to 17 (200 km/h) on the extended Beaufort scale.

In May, Dongfang said it had completed static load testing on the turbine’s blades, and the turbine is now undergoing fatigue testing, which could take up to a year before the turbine is fully certified.

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Read more: Trump just killed all offshore wind zones as US power needs surge


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