The Shark Tank - Page 54 - Business, Finances and Investing Forum

sure... very possible the major cooler makers havent thought of the idea. He owns the patent, you'd think the major cooler makers would apply for such patents to avoid potential future competition and protect their product.

took a long time before a passenger thought of adding wheels to a suitcase.

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04-12-2013 , 07:58 PM

#1327

stinkypete

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Quote:

Originally Posted by sfcard

Shocked liddup got an investment at all - does anyone really think that the major cooler makers have not already considered the idea?

you really think they wouldn't already be putting LED lights in their high end coolers if they had thought of it and could legally do it?

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04-13-2013 , 04:50 PM

#1328

LaPulga

centurion

Join Date: Sep 2012 Posts: 123

i'm not privy to the margins in the cooler biz, but i imagine that they would consider to costs like that to be non-starters.

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04-13-2013 , 06:15 PM

#1329

stinkypete

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Quote:

Originally Posted by LaPulga

i'm not privy to the margins in the cooler biz, but i imagine that they would consider to costs like that to be non-starters.

installing LEDs for a few cents adds a lot more value than it costs.

the solar panel is obviously ******ed since you need a battery anyway and one or two AA batteries will power the lights for a very long time.

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04-13-2013 , 06:29 PM

#1330

LaPulga

centurion

Join Date: Sep 2012 Posts: 123

Quote:

Originally Posted by stinkypete

installing LEDs for a few cents adds a lot more value than it costs.

that's just, like, your opinion, man.

seriously you can't say that you know whether it "adds a lot more value" because we haven't seen what it does in the marketplace. all we have is your vehement prediction.

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04-13-2013 , 06:50 PM

#1331

stinkypete

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Quote:

Originally Posted by LaPulga

lol. it's hardly a stretch to assume that, all else equal, a cooler with LEDs is going to sell better than one without them. that by itself is easily more than enough to justify a few cents extra in manufacturing costs.

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04-14-2013 , 05:00 AM

#1332

magking1

old hand

Join Date: Jul 2006 Posts: 1,464

Quote:

Originally Posted by stinkypete

Yeah if they are the same price then I take the lights, otherwise how much more will the consumer pay for them.

also if the lights only cost a few cents to make that does not take into account the real cost to put them in. Labor and the license is going to cost money so in reality "all else equal" does not exist.

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04-14-2013 , 05:51 AM

#1333

nutsfl0pper

old hand

Join Date: May 2012 Posts: 1,298

magking1, are you serious? He said "manufacturing costs." Like, taking into account "the real cost to put them in."

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04-14-2013 , 09:24 AM

#1334

magking1

old hand

Join Date: Jul 2006 Posts: 1,464

I looked this up and this appears to be a little more elaborate than I initially thought.

My comment was based upon thinking that the light would be something that was manufactured, either in house or outsourced and then it would have to be attached using labor from the factory and then on top of that there are still the licensing fees to account for.

Either way its not something that is going to be "a few extra cents in manufacturing costs"

Here is the kickstarter page for more details.

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04-14-2013 , 12:30 PM

#1335

Jzo19

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Quote:

Originally Posted by magking1

I looked this up and this appears to be a little more elaborate than I initially thought.

Either way its not something that is going to be "a few extra cents in manufacturing costs"

.

i saw the video and looked at the page , and yeah it looks like a huge cooler company can do it for very cheap ,

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04-14-2013 , 03:48 PM

#1336

LaPulga

centurion

Join Date: Sep 2012 Posts: 123

Quote:

Originally Posted by stinkypete

lol. it's hardly a stretch to assume that, all else equal,

there are no sure things when it comes to taking a new product to market. you'd be wise to consider that.

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04-16-2013 , 04:20 PM

#1337

hodgie19

grinder

Join Date: Jul 2009 Posts: 546

WTF was going on in that food cover pitch? Seems to me like there was some crazy editing or something. How does a guy not snap accept 1 mil for 25% instead of somehow pissing damon off and then only getting 90k for 8% from the QVC lady?

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04-16-2013 , 06:02 PM

#1338

marek_heinz

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He was aware that the value of the company was bigger but was willing to give up a small % for the partnership and exposure. Of course the way he went about was terrible

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04-16-2013 , 06:04 PM

#1339

ilikeaces86_

veteran

Join Date: Feb 2005 Posts: 2,570

The 1 mill for 25% from Damon may not have been as good as an offer as the $900k for 33% from Lori given the connections that she has.

In the end, the small % for not that much money was great for the connections she brings.

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04-16-2013 , 07:37 PM

#1340

Brown Keeper

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Join Date: Nov 2010 Posts: 4,542

That was a re-run, right?

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04-16-2013 , 08:25 PM

#1341

NLSoldier

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04-17-2013 , 02:27 AM

#1342

NLSoldier

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werent some people ITT recently claiming that dragons den canada was as good or better than shark tank? i just started watching season 7 and everything from the production quality to the products seems pretty clearly worse. I guess you guys just think the dragons are >> the sharks? I kinda agree with that outside of cuban. its funny how much less negotiating goes on in DD, seems like people that get a deal usually get the full asking price offered by multiple dragons or occasionally just have 1 dragon offer something way under asking that they just snap accept without countering.

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04-17-2013 , 11:14 AM

#1343

LozColbert

Pooh-Bah

Join Date: Jul 2004 Posts: 3,646

Season 7 is probably the worst season of Dragons Den Canada in awhile because a bunch of the investors have changed. the two new guys (Bruce and Alex maybe?) are kinda lame.

it is a different show. more light-hearted. they show quick hits of pitches that bomb too. maybe less competition between investors when a good deal actually comes up, unfortunately. but when Bret Wilson was on the show, it was pretty legit imho.

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04-17-2013 , 12:07 PM

#1344

GBP04

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can anyone tell me a few of the best shark tank episodes? I enjoyed a few of the episodes I've seen but don't really have the time/interest to watch a whole season. what are your favorites?

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04-17-2013 , 01:56 PM

#1345

NLSoldier

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ah ok thanks ill check out season 6.

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04-18-2013 , 12:11 AM

#1346

TheAsianPlayboy

old hand

Join Date: Oct 2012 Posts: 1,315

http://sharktankblog.com/food-storage-pioneer/

for anybody interested in more details with the food storage guy. I can't believe he bombed so badly and he's probably 10x smarter than me.

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04-18-2013 , 12:56 AM

#1347

NLSoldier

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idk why u would post that link and then talk about him bombing. his side of the story makes a ton of sense, he likely didn't bomb at all. he just got ****ed by the editors bc drama makes for better TV, it was obvious he was getting ****ed by the edit even while watching the show in real time imo.

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04-18-2013 , 01:15 AM

#1348

rakeme

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Quote:

Originally Posted by Rizzeedizzee

I got a different vibe - he struck me as slick, in a bad way. I literally turned to my wife while watching and said "this guy will be arrested within 5 years, either for bad dealings or in some sort of a coke bust."

Thoughts on how much the meat guy was paying himself out of the business? It's middle America, so probably not as much as that lady a few weeks ago who counted past salary among the company's debt (I think she was $100,000 per year or something), but I'm guessing probably $80K, or that kind of ballpark.

Episode was from a few weeks ago, but I totally got the vibe of that water bottle guy being untrustworthy. Nothing specific that I could pinpoint, just didn't look like someone I would trust with my investment.

Last edited by rakeme; 04-18-2013 at 01:20 AM.

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04-20-2013 , 10:32 AM

#1349

IcyHotMonkey

veteran

Join Date: Mar 2005 Posts: 2,771

Robert saying "I'm out" on Geek Chic and then jumping back in was very tilting to watch. There should be a hard rule that if you say "I'm out" then you have to stay out. Damon made his offer thinking he was the last shark left.