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Shark Tank on ABC (1 Viewer)
- Thread starter Red Eyed and Blue
- Start date
phatdawg
Footballguy
Impressed with the product. I thought Mr. Wonderful was just wrong when he was questioning the price point. I would pay for that price for that product in a heartbeat ... and I am relatively frugal.
Zegras11
Footballguy
Ditto here. Great idea with so many applications/markets down the road.
GTBilly
Footballguy
Just letting the guy who thinks Robert is "poor" know that Robert could buy and sell Mr Wonderful easily. The lock guy said he was happy to make a deal with the two billionaires but in that he's incorrect. Both Robert and Kevin are on Dragon's Den(Canadian Shark Tank and the better of the two shows) and Robert let it be known that Kevin did sell his company for 1 000 000 000+ but only pocketed 100 millionish. Robert sold his company for just under 400 milllion and pocketed damn near all of it.
The Kerminator
Footballguy
I thought it was a good show tonight and liked the lock idea. Did this guy actually develop it or did he just buy it in another deal?
Dragons
Delusions of Grandeur
To clarify, I don't think Robert is poor. He was going to throw down $1m by himself without looking for other partners like many of them do (Kevin only wanted to put up $100,000 of the $500,000 for the locks). That's not someone who is poor.I said he almost acts poor by avoiding many of the deals.
Das Boot
Footballguy
That's my observation as well. Plus it seems like several times Robert starts out with an offer, then later gets cut out when 2 other sharks partner up and muscle him out.I like Robert, but if I was on the show as an inventor, I'm not sure why I'd go with him if I had other comparable offers. I.e., I'm not sure what he brings to a deal other than cash.
LittleLarry
Footballguy
I guess I'm the only one who wasn't hot for the electronic lock.
What we all know about computers and security, seems like this is something that could be easily hackable, no?
I'd love to see some guy driving down the street opening all the doors with his bootleg HACK app.
What we all know about computers and security, seems like this is something that could be easily hackable, no?
I'd love to see some guy driving down the street opening all the doors with his bootleg HACK app.
TLEF316
Footballguy
I think its more about convenience than extra security. If someone wants to break into a house, they can simply bust in using force. In my opinion, that takes less effort than coming up with some way to hack this product. And I'm sure those are super hung up on security will still have typical home security systems as a backup.
Wingnut
Footballguy
Not only that, but how many crooks that have a hacking app are gonna go door to door looking for these types of locks? Even if they sell 2 million of them in the US, that's only about 40k per state. If I had those locks on my house I wouldn't worry too much about it being hacked.
TLEF316
Footballguy
Yeah, good point. As i mentioned, the effort to beat one of these definitely outweighs the payoff (unless you're a crook and looking for one big sore, in which case, the house you're going after will almost certainly have extra security)
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I can't wait to buy those locks
I'm still going to set my alarm. But I freaking hate carrying around anything extra with me. Right now I only carry 3 keys (car, house, office)...would love to make that 2
Wingnut
Footballguy
Here is the net worth of each shark, according to Celebritynetworth.com. Im not sure how accurate this site is, but its the only one I found with this info.Mark Cuban - $2.5 Billion (seasons 2 and 3)http://www.celebritynetworth.com/richest-businessmen/richest-billionaires/mark-cuban-net-worth/Kevin Harrington - $450 Million (seasons 1 and 2)http://www.celebritynetworth.com/richest-businessmen/kevin-harrington-net-worth/Kevin O'Leary - $300 Millionhttp://www.celebritynetworth.com/richest-businessmen/kevin-oleary-net-worth/Robert Herjavec - $100 Millionhttp://www.celebritynetworth.com/richest-businessmen/robert-herjavec-net-worth/Daymond John - $100 Millionhttp://www.celebritynetworth.com/richest-businessmen/ceos/daymond-john-net-worth/Jeff Foxworthy - $100 Million (season 2)http://www.celebritynetworth.com/richest-celebrities/richest-comedians/jeff-foxworthy-net-worth/Barbara Corcoran - $40 Millionhttp://www.celebritynetworth.com/richest-businessmen/ceos/barbara-corcoran-net-worth/Lori Greiner - $15 Million (season 3)http://www.celebritynetworth.com/richest-businessmen/designers/lori-greiner-net-worth/
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Wingnut
Footballguy
UniKey. Theres a link to the Shark Tank pitch on the site:http://www.unikeytech.com/
northern exposure
Footballguy
Is anybody else shocked that Jeff Foxworthy has a net worth of $100 million??
cuban should use some of his $ and hire a proofreader to find mistakes every time his name is on the internet. it's not pittsburg, it's pittsburgh.this week's episode - a repeat - was classic. the cuban/herjavec argument was awesome. amazing how much cuban is worth compared to the rest.
identikit
Footballguy
jagbag
Footballguy
I like this show but it's starting to piss me off. It seems Cuban can get any deal he wants because of his deep pockets and his name recognition.If he is in competition with any of the others you know he usually gets the deal. If he wants it bad enough he'll get it.Last night he was an ### to Robert, i know it's part of the show but it's getting carried away with Cuban. I was really really hoping Robert would get the deal just to piss Cuban off.
Ministry of Pain
Footballguy
It's one of the very few shows I will watch on network TV. The show is great, the meaner the millionaires and billionaires the better. The bald #### in the middle is so awesome, they could do a show with just him being an ####### and it would rock. If you are a "business" type, an entrepreneurial type, this show is like crack. And some of the products these folks pitch actually go on and become successful. I haven't read the thread but I'm sure someone has some inside secret on how the show is a hoax but it is highly entertaining all the way around.
Dentist
***Official FBG Dentist***
The "Cubes" guy went to my high school.. same class.. small private Catholic school.he was pretty outgoing then too, but also stuck his foot in his mouth a lot (so "cubes" was just classic) and wasn't exactly brilliant. But I saw he was also on Wheel of Fortune about 10 years ago and did make the final spin (but lost).Killing it again this year."Cubes"
Dentist
***Official FBG Dentist***
Here's what I don't get.
I know Cuban the best of the guys on the show... and other than him wanting to stroke his own ego there's just no reason for him to waste his time on a show like this. None of these deals can possibly be really worth his time, not to mention he doesn't need anymore money.
The same could probably be said for all these people.
I can tell you that being some sort of a "celebrity" must be like a "crack" to people's egos.... because if I had that type of money that they have, I'd be on my private island keeping it real rather than listening to a bunch of lame pitches just so i could say i was on a TV show.
I "get" Cuban the NBA owner - i'd love to own a team. I don't "get" Cuban doing this TV show.
I know Cuban the best of the guys on the show... and other than him wanting to stroke his own ego there's just no reason for him to waste his time on a show like this. None of these deals can possibly be really worth his time, not to mention he doesn't need anymore money.
The same could probably be said for all these people.
I can tell you that being some sort of a "celebrity" must be like a "crack" to people's egos.... because if I had that type of money that they have, I'd be on my private island keeping it real rather than listening to a bunch of lame pitches just so i could say i was on a TV show.
I "get" Cuban the NBA owner - i'd love to own a team. I don't "get" Cuban doing this TV show.
No. 16
Footballguy
Making business deals is fun to these people. They have fun, help others, and possibly make more cash. Omit thing it costs them is time and chunk change.
Zegras11
Footballguy
They are all really into it. Tweeting during the shows is a big thing for them.The panel is a great blend. They are all good, but Cuban is the best. Love Lori
Ministry of Pain
Footballguy
It's like fantasy football for them.
John Bender
Footballguy
Anyone see last nights episode?
The "Scrub Daddy" segment was the best segment of the show to date.
Good for that dude.
ETA: It's on Hulu Free right now and it's the first 15 mins of the show in case you missed it
The "Scrub Daddy" segment was the best segment of the show to date.
Good for that dude.
ETA: It's on Hulu Free right now and it's the first 15 mins of the show in case you missed it
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Das Boot
Footballguy
I missed the first few minutes of the pitch and came in as the sharks were starting to fight over it.I was all
over the appeal of a happy face sponge.I loved Laurie telling Damon that she didn't need his 
as part of the deal.She really wanted that deal... she came down on her % and raised her up front cash.Robert about breaking the dog's neck later in the episode was pretty funny.
Ministry of Pain
Footballguy
I got in touch with one of the owners who was on Season 3. I liked his product and wanted to try and order some for my wife before Christmas. I got quite a bit of info about the show which I am sure many already know/knew.
-First of all they tape this in about 4 days, they actually taped 86 different ones last season but only 56 make it to TV. A lot of products they just flush out and then they keep some of the really over the top folks who might cry or in the case of the wine in a glass dude, wastes their time twice. It's TV first as I always try and remind anyone who is a fan of these "reality" TV shows.
-One of the sharks made him an offer, pretty bad offer really and he actually accepted it but then the deal went sour or the shark backed out. He said only about 20-25% of the actual deals done truly get done. For a variety of reasons after the show is done the sharks will back out. If they can't make a phone call and make a few hundred thousand minimum they usually lose interest and back out of the deal. The hand shake does not override whatever paper work is involved with the show that gives these guys the right to back out of the deals.
-This person actually used Shark Tank to raise the money he would have gotten anyways from the shark, only about $50,000 but a lot of people believed in the cause.
Rekixx(recyclable shoes), I didn't catch this show until over the summer and have been going back and watching seasons 2 and 3, I feel like they got it right after season 1...I think I watched 1-2 shows season 1 and didn't really love it like I do now.
What products have you all seen that you love? The custom bike thing was pretty cool but it ends up being close to $1,000 for everything when it's said and done, pretty steep for a beach cruiser IMO. The scrub daddy looked like a solid product. I thought the wine in a glass idea was perfect but the guy who owns it is such a ##### and I bet the wine is swill and not much above wine in the box quality.
-First of all they tape this in about 4 days, they actually taped 86 different ones last season but only 56 make it to TV. A lot of products they just flush out and then they keep some of the really over the top folks who might cry or in the case of the wine in a glass dude, wastes their time twice. It's TV first as I always try and remind anyone who is a fan of these "reality" TV shows.
-One of the sharks made him an offer, pretty bad offer really and he actually accepted it but then the deal went sour or the shark backed out. He said only about 20-25% of the actual deals done truly get done. For a variety of reasons after the show is done the sharks will back out. If they can't make a phone call and make a few hundred thousand minimum they usually lose interest and back out of the deal. The hand shake does not override whatever paper work is involved with the show that gives these guys the right to back out of the deals.
-This person actually used Shark Tank to raise the money he would have gotten anyways from the shark, only about $50,000 but a lot of people believed in the cause.
Rekixx(recyclable shoes), I didn't catch this show until over the summer and have been going back and watching seasons 2 and 3, I feel like they got it right after season 1...I think I watched 1-2 shows season 1 and didn't really love it like I do now.
What products have you all seen that you love? The custom bike thing was pretty cool but it ends up being close to $1,000 for everything when it's said and done, pretty steep for a beach cruiser IMO. The scrub daddy looked like a solid product. I thought the wine in a glass idea was perfect but the guy who owns it is such a ##### and I bet the wine is swill and not much above wine in the box quality.
Johnny Bing
Footballguy
I'd have the say out of all the seasons the most interesting product that I would go purchase is the unikey lock.
The $199 price isn't bad at all when you look at what a key code lock costs. I know it is sad when a key lock is too much work, but this product will be future. Just look at the automotive industry, manual locks are a thing of the past.
The $199 price isn't bad at all when you look at what a key code lock costs. I know it is sad when a key lock is too much work, but this product will be future. Just look at the automotive industry, manual locks are a thing of the past.
5 digit know nothing
Footballguy
I'm hooked, can't stop watching this on youtube.
5 digit know nothing
Footballguy
I really enjoyed this guy calling out the Shark Tank for their ridiculously low-ball offer of his already lucrative business. The "sharks" often come across like the Pawn Star guys and try to pull one over on people. I'll give them credit for giving people opportunities and both parties being able to make money off of it but once Mr. Wonderful starts asking for royalties (beyond his investment getting repaid) it just wreaks of greed.
Maelstrom
Footballguy
I agree with Cuban on this one. Horrible idea, horrible patent and just completely wrong. Complete abuse of the patent system.As for his comments afterward - well, he had the opportunity to counter, and he could have made an equally ridiculous counter-offer (that is how it sometimes works in negotiations, establish the boundaries and then find the middle ground) but instead he chose to insult the two giving him an offer and walked out. I have little respect for him, and think his patent is stupid and should never have been granted. I also think his clothing line is doomed to fail as well because I agree that wireless will be the way to go and it is getting cheaper all the time.
(Previous portion shows the beginning and describes the initial request: http://youtu.be/4kWUOVDNhAM?t=5m25s)
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identikit
Footballguy
Agree 100%
5 digit know nothing
Footballguy
If your clothing line was bringing in $12 million this year and Robert Herjavec offers you $500k for 15%, you would not feel insulted? That's an absolute joke, you are valuing a company bringing in $12 million at $3.3 million as well as getting ownership of the patent?!? It doesn't matter how ridiculous you think the patent is, on a monetary basis alone that offer was an insult.
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shake zula
Footballguy
Why dp you think the patent wrong or horrible?
5 digit know nothing
Footballguy
Mr. Wonderful is hilariousYoutube has the original version of this (Dragon's Den UK) as well as the Canadian version (Dragon's Den Canada)!
LittleLarry
Footballguy
Mark Cuban said on a Reddit blog recently that the sharks are allowed due-diligence after agreeing to a deal on the show. Often times they find the presenter lied about some crucial info, is neck-deep in credit card balances, or owes back taxes.This kind of stuff nixes the deals.
5 digit know nothing
Footballguy
Here's another one:http://www.youtube.com/watch?v=G07GytTtwIc
Wine by the glass guy comes back a second time, has $5 million in sales after $600k from previous year, with $12 million projected the next year, and they offer him a $2.5 million valuation ($600k for 30%).
Another...
Is it really that hard to get on QVC with a product like this?
Nail Pak
Woman spends $300k into her business developing a 3-in-1 product: nail polish, nail file, and pre-moistened pads with nail polish remover and then sells 40% for $50k putting it a valuation of $125k.
I think the patent (granted it is pending) is easily worth 5 times that. It's doing very well now (remember seeing a flash-forward in Season 4)
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Maelstrom
Footballguy
Bringing in $12million in sales doesn't mean profiting $12m or that it was profitable at all. They didn't ask what his net was. Basically, he offered what the guy was asking for, but wanted a piece of both businesses. He even indicated (while the guy was out of the room) that it was a poor offer just to see if they guy would include the real business in the negotiations, and that he would make him a "real" offer if the indication was good.I'm not saying the guy should have done the deal. Depends how much he needed the contacts the sharks would have brought to the table. If his other business was making money, it wasn't about getting money, so it had to be something else the sharks could offer that he was having a hard time getting on his own. My impression, he had no intention of making a deal, he wanted the exposure of being on Shark Tank.
![[icon]](/data/avatars/m/5/5167.jpg?1660313464){kind=avatar}
Maelstrom
Footballguy
First, I should qualify, that I am basing that opinion entirely on how it was presenting in the S.T. episode. It was described as a "way of running wires through clothing" and he was suing other brands for running wires through clothing. I know there is prior art for that (Google Images has failed me, but I owned a jacket in the 80's that had speakers (with wires running through the jacket) in the breast. Yes...very uncool now. Heck, probably then as well for that matter.) In my mind, I can't think of a particularly way, except for in our broken and ridiculous excuse for a patent system, that someone not only gets, but is able to defend, a patent for "running speakers through clothing." That is why I think it is wrong and/or horrible. I'm sure there is "more to the patent" but it seems like they are suing for anyone running wires through clothing (as indicated on the show) and companies are choosing to pay royalties rather than attack the patent as the royalties are cheaper than the lawyer fees would be in the end, with no guarantee of winning. That is also what is broken and why it is horrible, as it is stifling innovation instead of encouraging it.
Maelstrom
Footballguy
As for the Sharks "buying at a discount", um...yah. That is why they are sharks and one of the reasons they have money to invest. They don't have to pay "retail" (i.e. full valuation) and so shouldn't. In fact, show me any VC investing in companies like the ones they get pitched, and if they are paying full valuation, they won't be VCs for very long unless they get really lucky before they go broke.
TLEF316
Footballguy
Just re-watched the wine by the glass guy. (his 2nd appearance) He's a total doosh but his idea has just massive potential. I don't give a crap about wine, but I know that there's hundreds of millions of dollars to be made there through licensing agreements with the major manufacturers.
If I'm O'Leary, I give the guy the valuation he wants (which wasn't all that crazy IMO) with the condition that I can license the technology. Let the guy run his winery the way he wants. Let him run it into the ground. Who cares? Hell, even if you have to give him twice what he's asking for (which I believe was 1.2 million for 30% of the company) the back end potential is just crazy.
Both sides were crazy for not making a deal on that one. What's an extra couple hundred grand to guys like O'Leary and Cuban when there's a potential 9 figure payout down the road?
If I'm O'Leary, I give the guy the valuation he wants (which wasn't all that crazy IMO) with the condition that I can license the technology. Let the guy run his winery the way he wants. Let him run it into the ground. Who cares? Hell, even if you have to give him twice what he's asking for (which I believe was 1.2 million for 30% of the company) the back end potential is just crazy.
Both sides were crazy for not making a deal on that one. What's an extra couple hundred grand to guys like O'Leary and Cuban when there's a potential 9 figure payout down the road?
identikit
Footballguy
Wine guy would have never agreed to any deal IMO.He got what he wanted. Twice.
5 digit know nothing
Footballguy
My problem is they want the best of both of worlds, they are very greedy and you are saying they have a right to be.They favor companies with high sales, but steer clear of companies that already have outside investors. If they already have outside investors they insist on getting in on the valuation of the company back when sales were 1/10 as much (see Miso Media). When I watch it I can't help but think the sharks are the ones with the huge egos since they feel they have a right to get into their time machine to go back in time and demand to be treated to the sweet deals their first round investors received as a Monday morning QB after they know sales have gone up 1000%. I think you give them too much credit when they offer these grossly discounted valuation offers without needing to take on the risk to get the company from x in sales to 10x in sales.
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