Kevin O’Leary is busting down on young people for spending $28 on lunch when he charges $20 for a baked potato or fries in his very own restaurant.
He starts his kitchen staff at $14-$20 an hour in Toronto, Canada where the average cost of a one bedroom apartment is $1900 - $2300 a month.
How does anyone making $2400 a month before taxes in Toronto, Canada starting out washing dishes in his own restaurant afford that Kevin? They don’t.
Kevin is exactly the kind of problem with society today. People saying pull yourself up by your bootstraps. They can’t even afford boots.
Kevin O’Leary reveals he cuts his kids off after college
“I set up a trust. It does not provide to anybody anything after they finish education”
“From birth to the last day of education, full free ride. Everything paid for but if you drop out of school or you don’t make it to college, you’re cut off”
“My son was doing really poorly in high school and said, ‘My friend has a trust. Tell me how mine works’. I said this trust pays till you finish high school but with your marks you’re probably never making it to college”
“He said, ‘Yeah, but I don’t have to worry about it. I got a trust’. I said no, if you only make it through high school, I’m dead and you’re broke”
“The horror in his eyes when he figured that out motivated him to get off his ass and use the next three years to milk that trust to get into college”
“He got his marks up, became an engineer, worked for Tesla and got into both Harvard and MIT”