Shark Tank

[KeithTalent]

Originally posted by: speg

Originally posted by: KeithTalent

Originally posted by: speg
This is the Dragon's Den. CBC show. Exact same show (some of the cast is still the same). These guys are "tools" either, they are billionaire investors who have built their own companies. Kevin is my favourite :heart:

If they've kept the integrity together and not dumbed it down for America too much it should be a great show, enjoy!

Oh wow, they have some of the same guys. That's awesome, I'll have to check this out. So does that mean that Dragon's Den is over? I hope not, but it's been a while since I've seen a new one. 🙁

KT

Nope, Season 4 starts on Sept. 30 🙂

Awesome. Time to set the PVR. :thumbsup:

KT

 

[TXHokie]

I like that show. Kevin's got a great line "Turn around and you're dead to me!"

 

[her209]

Is it on Hulu?

EDIT: Oh it is!

 

[coldmeat]

I've seen Dragon's Den (canadian) and I like it. I've heard though that Shark Tank isn't as good. Also, it has a gay name.

 

[her209]

So I'm watching the 2nd episode and the "Sharks" are low-balling the guy with the seatbelt patent. WTF!?

$1 million, please! Its worth at least 100x, maybe 1000x that, considering how many cars will be sold with it per year times number of years until cars/seatbelts become obsolete.

 

[JS80]

Originally posted by: her209
So I'm watching the 2nd episode and the "Sharks" are low-balling the guy with the seatbelt patent. WTF!?

$1 million, please! Its worth at least 100x, maybe 1000x that, considering how many cars will be sold with it per year times number of years until cars/seatbelts become obsolete.

He should have taken the deal. It's much cheaper for car companies to just have the car beep at you until you put your seat belt on. I don't think he was really getting that lowballed.

However, the sharks do tend to lowball the offers...after all they are called sharks for a reason.

 

[ni4ni]

Excellent show. What is the formula they use to determine the estimated worth of the company?

 

[JS80]

Originally posted by: ni4ni
Excellent show. What is the formula they use to determine the estimated worth of the company?

"how low can i offer"

 

[her209]

Originally posted by: JS80

Originally posted by: ni4ni
Excellent show. What is the formula they use to determine the estimated worth of the company?

"how low can i offer"

I feel bad for the people who go in there not knowing exactly what their company/idea is worth. Especially the ones who go in there and think its worth millions when its a piece of shit, like that sticky notes lady.

 

[ni4ni]

Originally posted by: JS80

Originally posted by: ni4ni
Excellent show. What is the formula they use to determine the estimated worth of the company?

"how low can i offer"

The person will say I offer you 10% equity in my company for $130,000. The Sharks then say you are valuing your company at x amount of dollars. How do they determine that?

 

[3chordcharlie]

Originally posted by: her209
So I'm watching the 2nd episode and the "Sharks" are low-balling the guy with the seatbelt patent. WTF!?

$1 million, please! Its worth at least 100x, maybe 1000x that, considering how many cars will be sold with it per year times number of years until cars/seatbelts become obsolete.

It's a stupid invention. And I say that as a 'seatbelt-wearer'.

There's way to many times that you need to be able to start, and even move a vehicle without a seatbelt.

 

[Dear Summer]

I like the show
that element bars guy was impressive
easy to see that he graduated from Kellogg

 

[her209]

Originally posted by: 3chordcharlie
It's a stupid invention. And I say that as a 'seatbelt-wearer'.

There's way to many times that you need to be able to start, and even move a vehicle without a seatbelt.

Like when?

 

[3chordcharlie]

Originally posted by: her209

Originally posted by: 3chordcharlie
It's a stupid invention. And I say that as a 'seatbelt-wearer'.

There's way to many times that you need to be able to start, and even move a vehicle without a seatbelt.

Like when?

Like when it's minus 40 and you need to run the motor at least long enough to scrape off the windows and have the defroster send out air that's above freezing.

Like when you're engaged in low-speed parking manouvers (especially with a trailer) and need to move freely to see what you are doing.

Seatbelt lights I'm fine with, though if I had my way, they would beep initially for a few seconds, then beep more annoyingly once you reach about 5-10 mph.

 

[her209]

That's only two instances.

Originally posted by: 3chordcharlie
Like when it's minus 40 and you need to run the motor at least long enough to scrape off the windows and have the defroster send out air that's above freezing.

Couldn't you get around this by putting the seatbelt on without you in it and starting the car? That way, when you do go to drive it, you'll remember to use it when you do get in to drive it?

Like when you're engaged in low-speed parking manouvers (especially with a trailer) and need to move freely to see what you are doing.

You're not going to be doing this an awful lot, and when you do, its probably best to have people outside guiding you.

 

[her209]

The Turbo Baster woman made a huge mistake. Huge!

 

[JS80]

Originally posted by: ni4ni

Originally posted by: JS80

Originally posted by: ni4ni
Excellent show. What is the formula they use to determine the estimated worth of the company?

"how low can i offer"

The person will say I offer you 10% equity in my company for $130,000. The Sharks then say you are valuing your company at x amount of dollars. How do they determine that?

If 10% of the company is worth $130k, then multiply by 10 to get 100% = $1.3m

 

[JS80]

Originally posted by: her209

Originally posted by: JS80

Originally posted by: ni4ni
Excellent show. What is the formula they use to determine the estimated worth of the company?

"how low can i offer"

I feel bad for the people who go in there not knowing exactly what their company/idea is worth. Especially the ones who go in there and think its worth millions when its a piece of shit, like that sticky notes lady.

Yup, pretty shitty. A recent one was good because one of the guys was a VC guy so he knew how to negotiate and retort bad offers. Basically the sharks take advantage of mom and pop ideas who don't know how to get funding from professional VCs. And the pitchers often forget to add in the future valuation once a shark comes in to partner with them.

 

[JS80]

Originally posted by: her209
The Turbo Baster woman made a huge mistake. Huge!

IMO the best deals are ones where they offer X% royalty on gross sales to perpetuity.

 

[3chordcharlie]

Originally posted by: her209
That's only two instances.

That's two instance that affect me either every single day, or every single day (but only 5 months of the year).

Couldn't you get around this by putting the seatbelt on without you in it and starting the car? That way, when you do go to drive it, you'll remember to use it when you do get in to drive it?

Why should I have to do that? And what's to stop me from just plugging in the belt the day I buy the car, throwing on a seat cover, and calling it a day?

You're not going to be doing this an awful lot, and when you do, its probably best to have people outside guiding you.

I do do this an awful lot, and I have someone outside guiding me when I'm entering or exiting a roadway. (in which case I don't need the seatbelt off).

I'm all for seatbelt use - but a little beep looks after 'reminding' and anything else people will just find a way around.

It's a stupid invention, and I think the guy should have taken his $1million.

 

[her209]

Originally posted by: 3chordcharlie

Originally posted by: her209
That's only two instances.

That's two instance that affect me either every single day, or every single day (but only 5 months of the year).

I think you are an exception to the rule.

Couldn't you get around this by putting the seatbelt on without you in it and starting the car? That way, when you do go to drive it, you'll remember to use it when you do get in to drive it?

Why should I have to do that? And what's to stop me from just plugging in the belt the day I buy the car, throwing on a seat cover, and calling it a day?

Unless there some other mechanism that allows the car to be started but not be put into gear until the seatbelt is fastened, its the only way. What's stopping you is that now you no longer have a seatbelt.

You're not going to be doing this an awful lot, and when you do, its probably best to have people outside guiding you.

I do do this an awful lot, and I have someone outside guiding me when I'm entering or exiting a roadway. (in which case I don't need the seatbelt off).

I'm all for seatbelt use - but a little beep looks after 'reminding' and anything else people will just find a way around.

It's a stupid invention, and I think the guy should have taken his $1million.

[/quote]
The Sharks were salivating at the thought of buying the patent because they know its worth way more than $1 million. I mean, even if the guy just got $10 every time one was sold, he'd make is money back after only 100K cars.

 

[her209]

Originally posted by: JS80

Originally posted by: her209
The Turbo Baster woman made a huge mistake. Huge!

IMO the best deals are ones where they offer X% royalty on gross sales to perpetuity.

Yeah, but the royalties are super low. Like with the musician guy, 5%!? C'mon!

 

[3chordcharlie]

Originally posted by: her209

Originally posted by: 3chordcharlie

Originally posted by: her209
That's only two instances.

That's two instance that affect me either every single day, or every single day (but only 5 months of the year).

I think you are an exception to the rule.

Couldn't you get around this by putting the seatbelt on without you in it and starting the car? That way, when you do go to drive it, you'll remember to use it when you do get in to drive it?

Why should I have to do that? And what's to stop me from just plugging in the belt the day I buy the car, throwing on a seat cover, and calling it a day?

Unless there some other mechanism that allows the car to be started but not be put into gear until the seatbelt is fastened, its the only way. What's stopping you is that now you no longer have a seatbelt.

You're not going to be doing this an awful lot, and when you do, its probably best to have people outside guiding you.

I do do this an awful lot, and I have someone outside guiding me when I'm entering or exiting a roadway. (in which case I don't need the seatbelt off).

I'm all for seatbelt use - but a little beep looks after 'reminding' and anything else people will just find a way around.

It's a stupid invention, and I think the guy should have taken his $1million.

The Sharks were salivating at the thought of buying the patent because they know its worth way more than $1 million. I mean, even if the guy just got $10 every time one was sold, he'd make is money back after only 100K cars.[/quote]

But the whole point is to stop people from driving without seatbelts, and:

1. It won't work.
2. It will be a hassle for many people, like all of us who live where it snows.

The Sharks were probably excited because they expected to take the patent and sue somebody over just exactly how thier seatbelt light works, because this 'idea' is never getting built unless it is mandated.

 

[compman25]

Originally posted by: 3chordcharlie

Originally posted by: her209

Originally posted by: 3chordcharlie
It's a stupid invention. And I say that as a 'seatbelt-wearer'.

There's way to many times that you need to be able to start, and even move a vehicle without a seatbelt.

Like when?

Like when it's minus 40 and you need to run the motor at least long enough to scrape off the windows and have the defroster send out air that's above freezing.

Like when you're engaged in low-speed parking manouvers (especially with a trailer) and need to move freely to see what you are doing.

Seatbelt lights I'm fine with, though if I had my way, they would beep initially for a few seconds, then beep more annoyingly once you reach about 5-10 mph.

Learn to set your mirrors correctly and learn to use them. If I can blind side back a 53' trailer into a 9' wide spot with only 2 mirrors you can do it with a car without needing to take your seat belt off.

 

[3chordcharlie]

Originally posted by: compman25

Originally posted by: 3chordcharlie

Originally posted by: her209

Originally posted by: 3chordcharlie
It's a stupid invention. And I say that as a 'seatbelt-wearer'.

There's way to many times that you need to be able to start, and even move a vehicle without a seatbelt.

Like when?

Like when it's minus 40 and you need to run the motor at least long enough to scrape off the windows and have the defroster send out air that's above freezing.

Like when you're engaged in low-speed parking manouvers (especially with a trailer) and need to move freely to see what you are doing.

Seatbelt lights I'm fine with, though if I had my way, they would beep initially for a few seconds, then beep more annoyingly once you reach about 5-10 mph.

Learn to set your mirrors correctly and learn to use them. If I can blind side back a 53' trailer into a 9' wide spot with only 2 mirrors you can do it with a car without needing to take your seat belt off.

You've got if anything, better control over a longer trailer than I get over the much shorter ones I use. Everytime I park with either a longer trailer or a shorter truck, I really notice how much more controllable it really is.

You also get a somewhat better view from your mirrors of a longer trailer.

I'm not claiming that I could step in and park your rig, but I'm not doing this in a car, and I'm *likely* doing it in somewhat less controlled areas than a loading bay.

Now you can come back and tell me I'm doing it wrong if you like - I can and do park using only mirrors when my view out the back is blocked; it's still easier to back a relatively short trailer by looking where you're going, and there's no need to wear a seatbelt at true parking lot speeds.