The Shark Tank - Page 23 - Business, Finances and Investing Forum

If you are intelligent enough to know how to hack into people's homes you could stand to make a lot more being a criminal by hacking into various accounts online.

I have a background in IT sec and this is a big overstatement. But it all depends on implemented security of the lock.... I was surprised Robert didn't ask anything sec related because I had like 20 questions, but it could be they cut that off...

in practice it is more easier to go after a digital security then physical locks because it is more quantifiable, virtual and almost zero initial cost

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05-20-2012 , 04:18 PM

#552

slickpoppa

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The basic pin and tumbler locks that 90%+ of people have on the front door of their homes can be picked incredibly easily by someone with minimal training. The point of this product is convenience, not increased security.

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05-20-2012 , 07:29 PM

#553

blackize

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Yeah and those locks are incredibly convenient. The handful of times I've had a friend come over and get there before me or I've been busy in the house grinding and had to get up to let them in or whatever, they addressed that on the show. That alone is pretty cool and convenient. But I can't even count the number of times I've come to the door with groceries and had to fumble for my keys or awkwardly hold 12 packs of soda between my legs or set things down to unlock the door. If I had that lock I could just tap the unlock button and turn the knob.

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05-20-2012 , 07:30 PM

#554

TomCollins

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Even if they can't pick the lock, they throw something through a window, open it up, and they are in.

Anyone who wants inside your house badly enough will get in. Locks only keep honest people out.

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05-20-2012 , 07:35 PM

#555

OppositeAttract

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Join Date: Feb 2012 Posts: 2,674

Daymond was bossing this episode. Loved that he wouldn't compromise on the 80 percent.

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05-21-2012 , 12:19 AM

#556

-Insert Witty SN-

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the nitroforce home gym (if it really offers 250lbs of resistance) looks really nice and adaptive and functional. it seems like an objectively "good" product (as dude stated that it'd be also marketable to intermediate to professional types) that simply doesn't have the startup market economics working for it

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05-21-2012 , 12:28 AM

#557

PFUNK

banned

Join Date: Jul 2008 Posts: 1,283

Lock deal is going to make them all a lot of money.

The argument that no one would buy because of price point, economy, or the product is somehow linked to the home/development market is ******ed.

I have one of the key pad locks and it is amazing, and although I do not have the product that does the things his does, there is already one where you can remote unlock when not at the house.

I would never buy a regular deadbolt again, and either will anyone else once they have one, or try one.....so I think his product is a standard in the way, way future, and will do quite well now to getting there.

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05-21-2012 , 01:14 AM

#558

FourFins

grinder

Join Date: Jul 2011 Posts: 698

Someone on Reddit says the Remyxx guy is his friend and he has to prove the viability of the product to Daymond by having a successful Kickstarter project:

http://www.reddit.com/r/environment/...de_a_deal_but/

I like the idea of the shoes and think there's a market for them. Of course that might not matter for this company because the other shoe guys can just come in if the idea gets popular.

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05-21-2012 , 02:20 AM

#559

andr3w321

adept

Join Date: Jul 2007 Posts: 1,148

To everyone raving about the deadbolt, there's already competitors out there that offer pretty much the exact same product. This is relatively old technology, schlage has had this out for years. His design might be cleaner or at least different, but personally I hate anything bluetooth that you have to constantly sync and battery drain your phone on. A lot of the others have keypads if you can't get the phone to work as opposed to having to have the physical key as a backup.

http://www.amazon.com/s/ref=nb_sb_no...eless+deadbolt

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05-21-2012 , 02:20 AM

#560

suic!deking

adept

Join Date: Dec 2007 Posts: 1,136

Minor nitpick on the Lock idea - and maybe I missed this in the explanation - but is there no concern over battery drain? The app has to always be "on" in order to find your locks, right? Or is (assuming) 24/7 Bluetooth just a minimal drain altogether?

I always assumed some iteration of a thumbprint scan would be the next "key". This idea is actually far more practical in the guest access problem though, which is where the thumbprint runs into complexity imo.

Also, high fives for an intelligent/successful UCF grad.

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05-21-2012 , 04:18 AM

#561

stinkypete

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Quote:

Originally Posted by andr3w321

can you link to an example of "pretty much the exact same product"? the first example in your search isn't the same at all and i'm too lazy to look through the others.

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05-21-2012 , 07:24 AM

#562

DMACM

banned

Join Date: Apr 2005 Posts: 3,917

Not sure if this has been mentioned but I thought someone was asking about the idea of someone wanting to get staked for poker.

There was a 2p2 pokercast with guest team moshman (a staking company apparently) in which the guy says he went on either Shark's Tank or Dragon's Den and got an offer from one of the guys. But his segment never aired.

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05-21-2012 , 08:32 AM

#563

TomCollins

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Quote:

Originally Posted by -Insert Witty SN-

No serious athlete would ever use that piece of crap.

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05-21-2012 , 09:06 AM

#564

Moreconfusednow

adept

Join Date: Nov 2008 Posts: 927

Quote:

Originally Posted by TomCollins

No serious athlete would ever use that piece of crap.

Not to mention BOWFLEX seems to already have the home gym market covered if not smashed...

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05-21-2012 , 09:11 AM

#565

OppositeAttract

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Quote:

Originally Posted by TomCollins

No serious athlete would ever use that piece of crap.

This. I looked at it and thought given the price point, you can find much more suitable options than that.

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05-21-2012 , 09:49 PM

#566

-Insert Witty SN-

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Quote:

Originally Posted by TomCollins

No serious athlete would ever use that piece of crap.

ya but randy couture trains mma with his door-attached bungee cords right?!?!?

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05-21-2012 , 10:24 PM

#567

The Don

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Join Date: Jun 2005 Posts: 3,362

Is it just me or are half the ideas interchangeable BS?

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05-22-2012 , 03:55 AM

#568

ESKiMO-SiCKNE5S

What SN is this?

Join Date: Aug 2005 Posts: 29,325

Quote:

Originally Posted by cwar

His homeless story was staying in a motel, completely different IMO.

seriously

i couldnt believe they even said that without laughing on the voiceover.

ftr im homeless atm. its a very sad story, but i actually live in an apartment rather than a house.

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05-22-2012 , 03:56 AM

#569

ESKiMO-SiCKNE5S

What SN is this?

Join Date: Aug 2005 Posts: 29,325

Quote:

Originally Posted by slickpoppa

Was anyone else in complete shock when Barbara invested in the bikini line? The guy who was talking couldn't even articulate their business strategy, they had 0 sales and they didn't even know how much equity they were asking for. This was even worse than Barbara's Nardo's investment.

i felt like this had a lot to do with the attitude of the guy.

barbara seems to give a lot of weight to people that dont take no for an answer and will smash down doors to get what they want.

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05-22-2012 , 02:00 PM

#570

ker17

journeyman

Join Date: Aug 2010 Posts: 297

She def liked his attitude, but the product did it for her. She is a woman who liked a female product and seems to believe there is a market. In addition, she seems much more hands-on with these business' than the other sharks, so she isn't very opposed to getting in at an earlier stage.

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05-22-2012 , 02:04 PM

#571

ker17

journeyman

Join Date: Aug 2010 Posts: 297

Quote:

Originally Posted by -Insert Witty SN-

That product seemed horrible. It was designed in such a way that basically none of the exercises can be performed with optimal form, which is awful. She said the deadlift was her favorite, had he done it properly that huge piece of metal in the center above the bar he was grabbing would have had to go right up through his junk and into his lower gut. Also, it seemed unclear to me how you change the resistance to various weights for different exercises, but I am sure this is something that ABC just sorta skipped over. Finally, that price point was too high.

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05-22-2012 , 03:15 PM

#572

PFUNK

banned

Join Date: Jul 2008 Posts: 1,283

Quote:

Originally Posted by stinkypete

can you link to an example of "pretty much the exact same product"? the first example in your search isn't the same at all and i'm too lazy to look through the others.

There are Schlage products that do exactly the same thing and more in terms of function, however, I don't believe they have one touch access with only having your phone in proximity like the guy had, so that is the only technology difference. You would have to manually do something on your phone to unlock it remotely, or punch in a key code.

http://consumer.schlage.com/Products...eSecurity.aspx

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05-22-2012 , 04:26 PM

#573

stinkypete

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Quote:

Originally Posted by PFUNK

There are Schlage products that do exactly the same thing and more in terms of function, however, I don't believe they have one touch access with only having your phone in proximity like the guy had, so that is the only technology difference. You would have to manually do something on your phone to unlock it remotely, or punch in a key code.

so what you're saying is that there's products that do exactly the same thing, except for the main selling point of his product

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05-22-2012 , 06:13 PM

#574

ker17

journeyman

Join Date: Aug 2010 Posts: 297

Yea I am with Pete on this, they aren't all that similar. To get similar functionality from the lock, the Schlage system will be more expensive. In addition, the features and technology on the shark tank lock product were far superior.

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05-22-2012 , 06:25 PM

#575

andr3w321

adept

Join Date: Jul 2007 Posts: 1,148

Ok, you may be right. I do remember reading about a similar deadbolt app company receiving funding at least a year ago and couldn't find them online. Fwiw I couldn't find any info about this guy's company either through googling so there may not be something quite like it on the market currently, but that doesn't mean there aren't competitors working on it.

Edit: found it. Not quite the same thing, but very similar

https://lockitron.com/

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