Spanx billionaire learns not to use this word in UK

Sitting next to Warren Buffett for a live interview on CNBC's "Squawk Box," Sara Blakely, the inventor of Spanx and founder of the women's undergarment company that's made her a billionaire, recounts an embarrassing BBC interview in which she used a word that has a very different meaning in England than it has in the U.S.

That's not all she spoke about, of course. Here's a clip of the entire lively and entertaining interview, including why her father encouraged her to fail when she was a child and Warren Buffett's words of praise for her.