Jason Li is one of the most incredible persons you’ll ever meet, and he’s been doing it since he was a child. Jason, who immigrated from China at the age of six, had one core love as a child: Judo. He was a fantastic athlete who competed in national competitions until he damaged his back and was unable to continue his Judo career.
Jason was confined to his bed for a month while he recovered from his life-altering injuries. There was virtually nothing he could accomplish at that time. He decided to read, and one of the books that influenced him was about improving the world. The book was on entrepreneurship and its importance in developing countries. It demonstrated how businesses may have a significant influence in these impoverished places of the globe.
Furthermore, Jason was and continues to be highly concerned about environmental issues in the environment. Jason established iReTron as a result of this cross-pollination of interests — and he accomplished it at the tender age of 16!
Jason saw an issue and saw a business potential inside it. There are a lot of individuals that desire the most up-to-date, cutting-edge technology available. At the same time, many individuals cannot afford the most up-to-date technology. When they’re done utilizing a gadget, what do most individuals do? They toss it out. Electronics have become one of the most polluting industries.
As a result of seeing all of this, Jason decided to start a company where individuals can mail in their old devices for recycling. After that, the electronic waste is recycled. They’re sometimes reconditioned and resold; other times, they’re taken at a loss and appropriately disposed of. Jason’s love of the outdoors was paired with his ambition to construct something and support himself.
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On Shark Tank, iReTron
Episode 20 Of Season 5 Of Shark Tank
iReTron was having trouble developing at the time simply because it didn’t have enough funding. Finding customers, according to Jason, is the easiest part. The company’s biggest challenge was obtaining enough electronics to make substantial revenues. That’s why Jason went on Shark Tank with his company concept, hoping to get $100,000 from one of the sharks in exchange for a 20% ownership in iReTron.
When you consider his age, the most remarkable aspect of his appearance on the show was probably his confident presentation. Jason seems to be in his 30s based on the episode. Following his first presentation, the sharks are taken aback to find that he is just 16 years old.
Several worries have surfaced during his confrontation with the sharks. The most important problem arises when Jason learns that the firm has only made a profit of $40,000. This is when Jason discloses an important detail: he needs more money to buy more products. It should also be highlighted that iReTron is quite similar to a number of other firms.
Jason’s charm proved to be the most effective strategy. All of the sharks admit to having reservations about the enterprise. Despite their reservations, they all had something positive to say about Jason and his performance. He looks to be intelligent and self-assured.
Barbara provides him the $100,000 he requested for this reason. She explains in her presentation that she doesn’t believe she’s investing in the company but in Jason. When Jason arrived, he had one shark in mind. He urges Mark Cuban, telling him that even with a financial injection, he would maintain his drive. Mark accepts, and Barbara and Mark form a partnership in which they share the $100,000.
When Jason exits the Tank, he is overjoyed. When he appeared on the program, it was evident that he only had one Shark in mind: Mark Cuban. He’s ecstatic that he ever had the opportunity to meet Mark, much alone collaborate with him.
The Sharks all expressed similar worries, namely that there are much more successful alternatives on the market. They all appear to believe in Jason, and they’re all amazed with the confidence with which he delivers his message and the way he conducts himself at such a young age.
After Shark Tank, There’s Life
Jason is presently a University of Chicago student. While he studies, he continues to operate iReTron. He is a campus student leader who is interested in assisting other young entrepreneurs. He’s delivered multiple talks, including one in 2015 at TEDxUChicago. In addition, he has launched his second social venture, UProspie. This is a service that assists persons in obtaining higher education who would not otherwise be able to do so or who just want support.
Because of its simple method, iReTron is one of the most convenient ways to obtain cash for your old electronics. The prices are reasonable; you can get a big chunk of the coin from equipment that most people would toss out without hesitation. Plus, every phone recycled means another phone won’t end up in the ocean or polluting a landfill.
The Sharks’ investment has aided the company’s growth. Customers can get the best price for their gadgets through iReTron. Customers may also make bulk purchases, allowing the organization to spend a large sum of money all at once. Jason has been able to support himself at the University of Chicago by using the income from iReTron to pay for his education.
As a result of all of this, Jason has been able to explore other projects without having to devote all of his time to iReTron. Not to add, having that type of access to tremendously successful people like the Sharks is priceless in and of itself.
Li continues to invest in new businesses, the most recent of which is named Flipside. The business is a media platform that analyses news stories to decide if they are true or false – whether they are opinions or news. In such a period of political stress, the firm expects that this kind of service would be beneficial.
The material in this article is offered only for educational purposes; Royal Pitch is not linked with iReTron, Shark Tank, or any of its subsidiaries.
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