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Old 12-21-2012, 01:47 AM   #1001
PeteMesquite
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Re: The Shark Tank

That guy got raped on that deal. No lube.

He already had a contract for 8 million in future orders. With the 10% royalty the sharks already re-couped their investment and received a "free" 30% of the company. Ughhhh.
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Old 12-21-2012, 02:02 AM   #1002
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Re: The Shark Tank

Yea, even though agreed it was a bad deal based on the presented information, but the contract was over a 6 year period and wouldn't be all profit. They never discussed this guys numbers....no idea what his margins were to make this and I would have to assume they were pretty amazing, but at the same time he wanted $1.2M at the end so he could complete an order he said.

$1.2 million has to be able to make a lot of nose patches.

Another deal I wonder that ever materialized in the end.
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Old 12-21-2012, 12:38 PM   #1003
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Re: The Shark Tank

Quote:
Kevin: $500k for a 20% equity with 15% royalty until the initial $500k is recouped.

Cuban jumps in w/ Kevin on the same deal.

Daymond: $800k for a 30% stake and 10% royalty.

Kevin: $1M for 100%.

Daymond: $1M for 30% with 10% royalty until the $1M is recouped.

Robert: $2M for 100% with a 10% royalty to Joe (the participant)

Robert: $4M for 100% with a 10% royalty to Joe.

Daymond, Cuban, Kevin: $750k for 30% with 10% royalty for good. (far worse than Daymonds previous offer)
The guy got hosed for sure... don't even think he realized the sharks lowered the offer.

I cringed when I heard Cuban say not to worry about needing more cash, how can you not work out those details... when in 3-4 months they need the $500k to make the order and Cuban asks for another 10% equity or 20% interest... he's not gonna give a 0-interest loan to the company.

Takes a lot of balls to turn down $4M w/ 10% royalty. Out of curiosity how would the royalty work when 40% of the company has been funded by friends and family? Would the owner distribute 40% of $4M and call it a day for them or would they be entitled to a piece of the royalty? Or is it up to his discretion...

I'd like to know what happens if you sneeze...
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Old 12-21-2012, 01:00 PM   #1004
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Re: The Shark Tank

SharkTank isn't advertised on their website, guess they are bigger than that now.

http://www.filteryourlife.com/ (the website)

I looked into it and from various reports the company secured the AUE contract, which guarantees 1.5M units the first year with a min. 10% growth YTY.

They also secured a $7.5M deal with Nigeria/Ghana and they have an $18M deal pending with Japan.

And its being sold on Amazon
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Old 12-21-2012, 02:11 PM   #1005
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Re: The Shark Tank

was there a new episode i missed?
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Old 12-21-2012, 02:12 PM   #1006
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Quote:
Originally Posted by IcyHotMonkey View Post

I'd like to know what happens if you sneeze...
If they work, you wouldn't have to worry about sneezing, ducy?
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Old 12-21-2012, 03:42 PM   #1007
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Re: The Shark Tank

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Originally Posted by Conz View Post
was there a new episode i missed?
No. I just found a youtube vid of the biggest offer ever made on ST. The next new episode is in 2013.

Quote:
Originally Posted by nutsfl0pper View Post
If they work, you wouldn't have to worry about sneezing, ducy?
There are a lot of reasons to make someone sneeze.

Wiki
Quote:
The photic sneeze reflex (also known as photoptarmosis, colloquially known as "sun sneezing" is a condition of uncontrollable sneezing in response to numerous stimuli, such as looking at bright lights or periocular (surrounding the eyeball) injection. The condition affects 18–35% of the population, but its exact mechanism of action is not well understood.
If the sun is bright and I walk outside I initially sneeze 90-95% of the time. And since I live in Florida it is frequently bright.

Or if someone tells a joke while I'm drinking milk... you get the point.
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Old 12-21-2012, 04:25 PM   #1008
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Re: The Shark Tank

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Originally Posted by PFUNK View Post
Yea, even though agreed it was a bad deal based on the presented information, but the contract was over a 6 year period and wouldn't be all profit. They never discussed this guys numbers....no idea what his margins were to make this and I would have to assume they were pretty amazing, but at the same time he wanted $1.2M at the end so he could complete an order he said.

$1.2 million has to be able to make a lot of nose patches.

Another deal I wonder that ever materialized in the end.
These guys arent idiots. I am pretty possitive it would be gross royalties.
Look at the numbers above, they slaughtered the guy.
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Old 12-21-2012, 05:29 PM   #1009
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Re: The Shark Tank

Robert has a sick sick house 15 minutes from downtown Toronto. On top of that what a beauty car collection. It was on MTV cribs, you guys might enjoy it.
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Old 12-21-2012, 05:43 PM   #1010
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Re: The Shark Tank

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Originally Posted by jnfpoker View Post
Robert has a sick sick house 15 minutes from downtown Toronto. On top of that what a beauty car collection. It was on MTV cribs, you guys might enjoy it.
As soon as I moved to the US Robert moved offices to the floor above where I worked... small place off of the 401 and Don Valley Pkwy. He drives his beauties to work. Probably for the best because I would have more than likely popped my head in to say hi.
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Old 12-21-2012, 05:52 PM   #1011
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Re: The Shark Tank

I bet there was more to the negotiations than what they showed us. Also, I am guessing that the guy took the much-reduced deal just to get on TV but then backed out of the deal later.
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Old 12-24-2012, 03:23 PM   #1012
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Re: The Shark Tank

Cuban doing AMA on Reddit, on X-Mas eve.

http://www.reddit.com/r/IAmA/comment...his_is_my_ama/
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Old 12-25-2012, 01:37 AM   #1013
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Re: The Shark Tank

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Originally Posted by Jusbe View Post
Cuban doing AMA on Reddit, on X-Mas eve.

http://www.reddit.com/r/IAmA/comment...his_is_my_ama/
highlights for me:

MBA useless

and

Q: Do you ever feel your wealth is a product of being in the right place at the right time (in relation to the internet bubble of the late 90's)? Do you think you'd be able to find similar success if you were graduating college today?


A: ive made a lot of money from a lot of different companies i have started, but there is no question i made the most money because i knew what i was doing on the net when the internet bubble hit.
Timing didnt make me rich, i was there already. But it put a B next to my name
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Old 12-27-2012, 04:20 PM   #1014
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Re: The Shark Tank

I was watching old eps on youtube. Apparently this company, Toygaroo went bankrupt even after getting a 200k deal from kevin and mark.

http://www.youtube.com/watch?v=PT7fXqlflcs

I'm always very curious to what is happening to companies after shark tank.
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Old 12-27-2012, 04:30 PM   #1015
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Re: The Shark Tank

i saw that episode a month or so ago and did some research. it was tough to find easy info on what happened and i wasn't going to spend too much time looking. the owner blamed explosive growth for why they went out of business. other info out there that suggested that the Toygaroo team wasn't happy with their Shark Tank investors. Cuban apparently also complained that the Toygaroo founder was too focused on getting media coverage instead of figuring out a workable long-term sales process.
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Old 12-27-2012, 05:04 PM   #1016
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Re: The Shark Tank

Article/slideshow of first three seasons success stories.
http://www.entrepreneur.com/slideshow/224405#1
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Old 12-27-2012, 05:28 PM   #1017
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Re: The Shark Tank

I don't want to sidetrack the thread too much, but what do you guys think of Cuban's stance on mba's?

Obviously he's right when it comes to just acquiring knowledge. But my concern is that when companies are looking at resumes, they'll almost always go with the guy with the mba.

I am getting a lot of pressure from family to go graduate school. I told them, give me 1-2 years to find work and if I don't find anything good. I'll go back to school.
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Old 12-27-2012, 06:00 PM   #1018
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Re: The Shark Tank

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Originally Posted by TheAsianPlayboy View Post
I don't want to sidetrack the thread too much, but what do you guys think of Cuban's stance on mba's?

Obviously he's right when it comes to just acquiring knowledge. But my concern is that when companies are looking at resumes, they'll almost always go with the guy with the mba.

I am getting a lot of pressure from family to go graduate school. I told them, give me 1-2 years to find work and if I don't find anything good. I'll go back to school.
That's the difference. Most entrepreneurs aren't handing out resumes to corporations. Cuban plays outside of the rules...

I'm about to start my last semester for my MBA and I agree with Cuban. If you're looking to be in business for yourself, MBA isn't worth the money. Spending $80k or w/e on a failed business will teach you a lot more than a classroom. I didn't learn the necessary skills to become a successful entrepreneur. I learned corporate skills and the MBA will hopefully not only improve my chances of getting a better job but will also pay for itself in the longrun. (same position, MBA salary vs. non-MBA salary)

It seems like the general EV of going corporate far exceeds the EV of starting your own business. For every Cuban, there are hundreds of failures.
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Old 12-28-2012, 01:52 PM   #1019
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Re: The Shark Tank

is this season of shark tank over or just on break for the holidays or what?
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Old 12-28-2012, 01:57 PM   #1020
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Re: The Shark Tank

holiday break
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Old 12-28-2012, 01:57 PM   #1021
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Re: The Shark Tank

Quote:
Originally Posted by TheAsianPlayboy View Post
I don't want to sidetrack the thread too much, but what do you guys think of Cuban's stance on mba's?

Obviously he's right when it comes to just acquiring knowledge. But my concern is that when companies are looking at resumes, they'll almost always go with the guy with the mba.

I am getting a lot of pressure from family to go graduate school. I told them, give me 1-2 years to find work and if I don't find anything good. I'll go back to school.
This isn't true in tech. I'm a software engineer in the SF Bay area. When I interviewed at Google, people viewed my MBA very negatively. It's a stereotype thing - I had one guy go on a 5 minute rant during my interview about how much he hated financial stuff and thought it was the cause of all evil in the world.
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Old 12-28-2012, 02:42 PM   #1022
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Re: The Shark Tank

Quote:
Originally Posted by TheAsianPlayboy View Post
I don't want to sidetrack the thread too much, but what do you guys think of Cuban's stance on mba's?

Obviously he's right when it comes to just acquiring knowledge. But my concern is that when companies are looking at resumes, they'll almost always go with the guy with the mba.

I am getting a lot of pressure from family to go graduate school. I told them, give me 1-2 years to find work and if I don't find anything good. I'll go back to school.
like nearly everything else, it depends. here are my thoughts:

-for most people, it's probably not the right move. the exceptions are peopel who can get into a good school and have a desire to work hard and try to maximize their expected income. it's dumb if you aren't going to work hard and don't place a lot of value on doing as best as you can in your career. i know a fair amount of people who have spent a ton on school and then don't care to put their degree to use or quickly become a stay at home mom or whatever.

-when you consider the cost, i think there's very little benefit in going to an average or worse school. you really benefit from meeting a network of "like minded" people and from the doors that your degree opens up but only if those things help set you apart from the crowd.

-if there are no financial concerns (parents paying or you're rich from something else) then i'd almost always recommend it. you will learn things and look better on paper, without mid 5 figures+ of debt those things are definitely valuable.

the more i learn the more i realize success is about differentiating yourself from the crowd. having skills and experience that most don't have, working harder/smarter, exploring opportunities that most people can't or aren't looking at, etc. things change. at some point, any MBA was a way to differentiate yourself and get ahead of the pack, bothin perception and reality. IMO, that's changed, and there are sometimes better ways to differentiate yourself.

getting real life experience is VERY possible from a young age. for example, you could take $5,000 and start a small business online. $5k will get you a LOT these days if you are just operating on your own and it's only a fraction of the cost of one semester at business school.

finally, "your family pressuring you" is not a reason to be doing something. if it gets bad just ask them if they will be paying for your tuition too (maybe they will...that'd be awesome).

everyone is biased towards their own experiences and i'm definitely biased towards going out there and doing things and learning on the fly. so make sure you read my advice keeping that in mind.
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Old 12-28-2012, 02:55 PM   #1023
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Re: The Shark Tank

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Originally Posted by sharpie338 View Post
This isn't true in tech. I'm a software engineer in the SF Bay area. When I interviewed at Google, people viewed my MBA very negatively. It's a stereotype thing - I had one guy go on a 5 minute rant during my interview about how much he hated financial stuff and thought it was the cause of all evil in the world.
IMO, the tech world is ridiculous with their anti-MBA stuff. there's real value created by "business" types, it's just there's a ton of idiots out there who go get an MBA because they don't know what the F else to do.
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Old 12-28-2012, 03:58 PM   #1024
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Re: The Shark Tank

The "it depends" is the correct answer everywhere.

I've hung out with an American 2+2er here in Rio and he gave me some insight. He said paying lots of money for college was the most stupid thing he did in his life. His words are that the culture is "brainwashed".

Due to leftists agenda people don't view education as an investment anymore, but rather as something holy/religious. You see the way people talk about it. They don't ask "do I get a good return on my money" or "what will i do practically" after getting my degree in comparative literature of medevil ages...


What is more important is to know what you want. Sometimes this involves getting a degree. Sometimes it means getting a degree and paying 100k for it.
Since there is so much inflation in the educational market (degrees are easier to get and hence lose their "intrinsic" value) , i'd advise anybody to NOT get one when in doubt.

Sounds so cliche but "following your passion" is still underrated.
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Old 12-28-2012, 04:03 PM   #1025
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Re: The Shark Tank

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Originally Posted by LaPulga View Post
holiday break
YESSSS!!!! TY
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