42 percent is absolutely criminal. i doubt she wakes up at 4am and goes to school for 6 hours after making donuts for at least another 6hrs a day. she didnt deserve that kid, good on him
Well, she did go down to 33%. I bet you once upon a time she burnt the midnight oil and woke up before the birds. The beauty of success is eventually, you've put in your time and you're able to work with your money to make money. Selling 1/3 of your company for a flagship store and a team that knows the industry with connections doesn't sound like a terrible deal.
An financial investment isn't based on whether he goes to school or not. It is based on the product, and what it's worth, so your reasoning makes zero sense.
@@Lagonas_ san san's reasoning is stupid but they're right that the offer is criminal at 42%. They had a net profit of 130k their first year. NET PROFIT. that's after all the bills are paid. Most reasonable valuations on companies get a 5-8X multiple on the valuation based on net profit. Some even more than that. If you ask me, 20% was a completely reasonable offer. Even 33% is horrible.
He looks like he’s about to cry because he brought blood sweat and tears into this business and there just messing with him because of his age. When they know it’s booming.
I know. I felt so bad for him. He walked in there with an amazing offer for THEM to invest, and the two that took the bait (pun intended) threw it right back in his face with their offers, especially the Janine chic. His spirit was crushed for a moment and I really felt for him. 😞
That kid said “my product is one that people will travel for” he’s damn right. There was a donut store with these eccentric donuts about an hour away and all the college students in my city would drive down to get these donuts. It went so well that they opened a shop up here.
@Noobz Threefortyseven she was obviously just trying to give him the least while gaining the most for herself. Fair as an investor, but she was adding pressure onto him hoping he would just give in like any weak person would do. She might’ve even been testing him. But he isn’t weak like some people.
It's a common business tactic, that's why businesspeople always advise people to know how much they're worth BEFORE they go in. Remember, the person making the deal with you is NEVER your friend.
Considering the fact that she gave him her time for FREE at the end says exactly how much she was trying to manipulate him. Now she's trying to build a rapport with him so she can get herself another (better, for her) deal down the line.
Did he ? I for one haven’t seen many 30 yo people need to ask mom and dad advice on what to do lol. But like many others have said this kid doesn’t need them he will do just fine without them!
”Posted 4 month’s ago” can’t you see that this is just a joke. Edited oh my gosh so many people are telling me that it was made a while ago and I know that can’t someone know what a joke is!!!!
That's what they all do, good on him though you don't need sharks to be successful as Ring showed everyone. The sharks did it on their own so can others. The one thing I dislike about shark tank is how highly they vaule themselves. AU ST is better than US ST in that regard but they still do it. Experience is good but every business is different and they all have to find their own unique way and opportunities.
Also to add Shark Tank takes 5 percent just for just pitching your idea. So 47 percent in total equity. If he wants to get more investment later he would be screwed!
@@lysssky2 I doubt he needed the money, as you said. It was more for their partnership. I'm sure he came for the advertising but it looked pretty clear he wanted her as a partner and she tried ripping him off.
My mom was told by someone at her work that someone they knew tried to go on the american shark tank and they basically had to spend i want to say $50k (or something ridiculous like that. I remember it was in the thousands) just for the opportunity to possibly make it on. So i can't say it is free advertising as they still would have to spend thousands. 🤔 But I imagine it's far cheaper than filming and paying for ad time on national tv for sure haha 😆
The sharks want the best deal they can get. Main goal of the sharks is to make money and not to help others. Making deals they can make money with is their job.
When he said "This is fun" I starting crying. You could see the pure joy in his face and hear it in his voice. He was meant to be in this business and an entrepreneur.
this makes me so mad and im so glad he didn’t accept those awful offers. 42% for her sweat?? he worked his ass off while in school and she really thinks she’s all that
He should have never said her name when they asked who he admired in the business. He gave her all the bargaining power, that's why she asked for so much.
I am proud of him for standing his ground. To do all this at 17 is beyond amazing. He has got enough drive in himself to make a success, whatever his situation is.
She was like.."even if you walk away from this, I'll still mentor you and help you". Basically inserting herself into his buisness so that he would feel obligated to repay her for her "kindness" later when he grows even more sucessful.
And if he's smart. He can repay her, by having her buy his stock to be invested into his business. That way he gets the win-win while being able to control how many shares of his company can be purchased by her. He definitely isn't dumb enough to give her anything for free, so he already beat her by just having such a great product at that young age.
@@duncanclan6186 haha i agree, but broke has the connotation of being completely done. You're referring to putting money into assets, which isn't actually broke, imo.
He’s a kind hearted young lad, passionate with his vision and he did seem stunned with what was happening that the sharks had to direct him to make a counter offer. But im glad at the end he stood his ground. After that show, his business grew and was even featured in Masterchef Junior Australia.
@@6jackace He would have his diploma. So he could go on to college any time he would like. He could even get a business degree right away. But there is nothing worth learning in your senior year of high school that is worth more than scaling your business quickly enough before competition moves in.
I found it unfair for teachers in middle and high school to not get paid that much but I know why goverments had to do this to them.. So they don't run away with the money they get from work, because they are teaching us.
Mr. Spy You get payed money based on how difficult it is to get your job. Getting a teaching degree is incredibly easy (practically anybody can become a teacher). If you want to make money, do well in school, so you can get a challenging job
This made me think "What the fvck have I been doing with my life". I've been stuck since i graduated college due to financial reasons and don't know what to do next. But this kid already have a stable footing in life and i respect that!
My son was the same. The pandemic hit his fledgling business hard so after a year of getting bits of work here and there he's gone to live on an amazing island, working in a hotel and working on the business in his time off. It's not easy but at least he's got a steady income whilst he works out his next step.
Yeah the balls of this kid to say no. Kudos to him. That takes real courage. Trying to swoop in at 42% when he already has a business that’s about to blow up completely.
Totally, at 350k net profit, he asking only 3x earnings Val. It is rare to find a young person so focused and doing so well. I would have backed this young man in to make my 20 per cent super valuable in 5 years.
because they are still making a profit from it, mark cuban has a reputation to hold up and 10-20% difference is gonna be like 5-10 million difference in profit which is nothing to him and either way he will still be making a few millions $ profit from a 200k investment plus you keep your partner/founder of the company happy by not taking too much of the equity away from them
You know just listening to his dad for a few seconds you can tell; JUST there, that they are the people who encouraged him to be where he is today!! Hats off lad regardless of your parents;)
@@electropower1317 Some of us care about how we type or talk, Sometimes it helps to be shown the correct usage of a word. He wasn't even being rude, but you are...
@@K-ro7lm i just think its really nerdy and "white" to correct someones spelling which no one gives af about + someones point doesnt change because they spellt something wrong so people should focus on the right thing. also i get quite triggered when people do annoying things so focusing on grammar annoys me
@@electropower1317 The reply wasn't just the person correcting them, and I don't see how correcting someone in vocabulary is a rude or bad thing to do.
I think he did the right thing by not giving more than 25% away. Although he looks emotional, he will look at this in a few years and smile about making the right choice under this pressure.
The US market for junk food like this is massive, and if he were US based, he'd likely be around a million per year. We're talking the same people who spend $10 on their morning coffees at Starbucks. In the US, he wouldn't need a shark.
Not necessarily, like you guys mentioned us has a larger market for fast food and junk food. His product wouldn’t last, as you guys said it’s a large market with a lot of competitors. He can’t patent food like this because there’s a lot of grey area. Therefore other competitors with more capital and work force will eat him up in 1 quarter.
@@sihyunpark6245 That's exactly why he would be so much more successful. If his products are better than the competitors, he will make a fortune and in a few years get bought out for enough money that he'd never have to work again. Assuming, of course, that he is good at managing money and investing it. The company who buys him out would have the capital/connects/infrastructure to reduce the cost per unit, and use their distribution network to make it available to the entire country.
Lagon78 I’m saying that he won’t have the opportunity to grow in the junk food market in the US compared to Australia. In the US. Every other corner has a dessert store that’s extremely unique, I see insane food that looks identical or better than his on Instagram every 3-5 minutes of scrolling. Secondly it’s impossible to patent food with ingredients of other companies, therefore most of his recipes can be duplicated. Other big company like Dunkin’ Donuts can just create the same recipes with no legal repercussions, they have the capital to lower the price and with their thousands of franchise stores they can make him worthless. Would you buy the same product from him who might have 1 or 2 stores or buy from a big brand that you can trust for high quality? Especially at a lower price?
my Mum is Australian but I was born in Canada, Ive been to Australia more times than I can count and Its been so fun every time, needless to say, I read everything in an aussie accent XD
Ur right, I think it's his attitude that screws him a bit but his offers tend to be a lot fairer that everybody else and he more straight to chase than everybody else
@@leodevenney6885 I agree: I think he'd be unpleasant to work with, which is why he gets fewer people interested in making deals with him. He's very negative and seems angry.
This kid is motivated, doing well and knows what he is worth. At 42% he was clearly insulted and justifiably so. Steve at 30% would have been the best option if he negotiated down to 25% Steve would have done the deal because he saw how motivated the kid was.
Definitely. I mean she is valuing his business at 476k and change and he would make more than that in net profits just in the year this was pitched. Smart move to take her as a mentor instead
If he didn’t show his bias towards Jannine so much I think he would’ve been able to negotiate down to 25% with Steve. I think Steve was a bit insulted that the kid was still trying to make a deal with Jannine even after she tried to screw him over.
@@alldaywildmusic1774 Bussiness is one thing, scams are a different thing, you can do bussiness without snatching someone else's bussiness, 42% for 200K is beyond all rationality
My point is, adults don’t do that. Unless your investor is your Dad/Mom, then you should be able to handle it solo. He froze up and needed help. Not saying he’s not solid
Am I the only one who felt really awkward that he was totally disregarding Steve even though his offer was significantly better than both of Janine's offers? Lol
I think the reason for that was because Steve's experience in that industry was lacking compared to Janine's, so the equity he offered was less valuable
She saw how much money he would he worth later and was hoping his inexperience in that field would make him think of her deal. But jokes on her now that he’s worth over twice than what she is
@@norsethenomad5978 Lol no, he is nowhere near worth as much as her. His net worth is 1-5 mil while hers is at least 60. I know there’s a source saying that he’s worth 200, not true. The conflicting sources prove he is nowhere near worth enough for people to make to spend tome to make an accurate estimation compared to her where ALL sources say she’s worth around 60-70.
Just had to look his business up after seeing this on Facebook and watching the full shark tank episode- for anyone wondering his business bistro Morgan was estimated to be worth 200 million in 2022 which is incredible such an inspirational young man
Finally a entrepreneur that has a basic grasp of business fundamentals. He is going to net 350k. At 42 per cent for 200k, Janine is valuing the biz at 476k, less than 2x net profit. Very happy he didn’t make that deal with her.
He got the best deal ever. Leaving with a mentor without giving up any piece of his business. A mentor should never be undervalued. And IMO a mentor (especially for someone younger) is worth much much more than what he asked for.
How you know he's doing the right thing is when they say he's working harder than most people they know and asked "when do you have fun?" And he says, "This is fun." THAT'S how you know you're doing what you're meant to be.
It’s very rare when someone says they will be their mentor they actually won’t. She probably said that to not be “ruthless” and she probably didn’t give him her “time” shortly after. I’m glad he stood by his principles
I'm 26 years old and I'm very much inspired by this guy. We just started our restaurant business and unlike him I'm nowhere near confident of it so his can do attitude amazes me. It's never about the age but all about the grit.
@@Kwokkie.89 What do you estimate his company valuation to be, knowing that his networth is now 200 million? I am not familiar with this kind of stuff, so genuinely interested in your answer!
@@AlishaArlene Well, to be honest, 200 million probably isn't an accurate number, I searched the web for his net worth, but found multiple answers with no evidence to back it.
I must say, I am extremely impressed with this young man's dream and how he has used tenacity and commitment to make that dream a success. He's 17 and he has a bigger business than I do, and I am 20 yrs older. And I respected him for not taking their offer. He has invested A LOT of time and creativity into his doughnut business and CLEARLY its working for him, given his yearly sales totals. They might not be cheap but he's not a fool. He's not willing to just GIVE somebody what he has put his life into.
I’m sixteen, and I don’t even work as hard at school as this guy does at his job. Humbling. He knows what he’s worth, and it’s inspiring. I want to work harder now.
At 17 I wasnt owning a business I was owning noobs in cod.
Relateable
Based
Bob Seaver loool
@@bobseaver7807 HHAHA BOOMER ALERT
@@TenzLekden DUDE HAHAH I LOLD SO HARD
Imagine his classmates ask him why he's doing his homeworks during lunch and they dont realize he's earning 55k in a week.
HMOESTLY 😂
Midnight Dazzle yeesh, you're one of those people
@@NobodyUndefined hes working 60 hour workweeks on top of studying full time, how is that not hard work...
Not every week😅
Midnight Dazzle he has been working full time since 13
42 percent is absolutely criminal. i doubt she wakes up at 4am and goes to school for 6 hours after making donuts for at least another 6hrs a day. she didnt deserve that kid, good on him
Well, she did go down to 33%. I bet you once upon a time she burnt the midnight oil and woke up before the birds. The beauty of success is eventually, you've put in your time and you're able to work with your money to make money.
Selling 1/3 of your company for a flagship store and a team that knows the industry with connections doesn't sound like a terrible deal.
She's an investor.... investments aren't personal.
An financial investment isn't based on whether he goes to school or not. It is based on the product, and what it's worth, so your reasoning makes zero sense.
@@Lagonas_ and this is why the world is broken.
@@Lagonas_ san san's reasoning is stupid but they're right that the offer is criminal at 42%. They had a net profit of 130k their first year. NET PROFIT. that's after all the bills are paid. Most reasonable valuations on companies get a 5-8X multiple on the valuation based on net profit. Some even more than that. If you ask me, 20% was a completely reasonable offer. Even 33% is horrible.
The Dad's response. "I think you know how I'd feel about that.." They may be Sharks but that man's a Killer Whale.
Damn right
Cringe
@@USAPatriot001 haha
Wow
@@USAPatriot001 ratio
He looks like he’s about to cry because he brought blood sweat and tears into this business and there just messing with him because of his age. When they know it’s booming.
I know. I felt so bad for him. He walked in there with an amazing offer for THEM to invest, and the two that took the bait (pun intended) threw it right back in his face with their offers, especially the Janine chic. His spirit was crushed for a moment and I really felt for him. 😞
@@AlishaArlene yeah but now he’s more successful at least without them (and her mentoring)
At least he stuck to his own. Good independent guy, he’s got a good brain in that head. More young people need to take an example
Amazing
Agreed. Hope he owns.
Based on the numbers he produced and presented to them, he actually doesn't need them. He won by getting a mentor.
I agree ☝️
Yeah but he's trying to be a global household name, you have to respect that he's like the elon of doughnuts.
Not to mention some free marketing through the show ;)
Yes.
That's exactly what I said, kid walk you'll be fine it'll just take a bit longer
That kid said “my product is one that people will travel for” he’s damn right. There was a donut store with these eccentric donuts about an hour away and all the college students in my city would drive down to get these donuts. It went so well that they opened a shop up here.
Facts I dnt drive that far but I do drive like 20min and when I was pregnant 🤰🏼 I would go further for some Krispy Kreme’s 🍩
Same it's called hurts donuts. I think there are several locations but we have one where I'm at.
@@XxMaJoRxX77 hurts donuts are so good I have one where I live too
Are u dumb? Travel for that crap?!
oh we got duck donuts
Stressed me out so much. How dare they try to take such a huge chunk of this boys business.
Don't worry. He's a millionaire.
its called shark tank for a reason. you think the business world is easy? either you eat or you get eaten
@@SpiceCh Still, do you want people to take your money just because you're a millionaire?
They are investors, it's not buddy buddy time. Ofc they want larger portions
Ash Fields there is no they. It’s her, one person, trying to take almost half of his business.
I'm happy this kid stuck to his principles and did not allow others to take over his dream. Good for him!
Fuck this being the comment shown
Being in business so long, kid made the best choice , they aren’t called sharks for no reason 😅
U a kid tooo
The kid would have jumped on that 30% in a heartbeat. It's the dad that made his decision for him.
@@GammaRays10 business is thriving, even throughout the lockdowns in Victoria. He's made all the right choices.
If my parents saw this, they would have given me a whole lecture on how this man is so successful
lmao right
But if we wanted to do something like this they would scold "Asian life"
It's funny this kids parents are actually helping him. Most parents do is demand demand demand but no hands on with their kids.
SAAAAMMMEEEE!!
Rofl
3:49 “when do you have fun?”
“This is fun”
I respect this kid
Making money is fun 🤑
Having no friends is not fun
@@fondabossathinacity6592 that’s a lie
@@fondabossathinacity6592 money over friends any day
@@fondabossathinacity6592 please, friends only get you so far.
She tried manipulating him so hard “Im giving you my TTTIIMMMEEE”
Facts that’s literally what I was thinking
....how is that manipulation?
@Noobz Threefortyseven she was obviously just trying to give him the least while gaining the most for herself. Fair as an investor, but she was adding pressure onto him hoping he would just give in like any weak person would do. She might’ve even been testing him. But he isn’t weak like some people.
It's a common business tactic, that's why businesspeople always advise people to know how much they're worth BEFORE they go in. Remember, the person making the deal with you is NEVER your friend.
Considering the fact that she gave him her time for FREE at the end says exactly how much she was trying to manipulate him. Now she's trying to build a rapport with him so she can get herself another (better, for her) deal down the line.
I gotta say he professionally handled it way better than many ppl in their 30's
Did he ? I for one haven’t seen many 30 yo people need to ask mom and dad advice on what to do lol. But like many others have said this kid doesn’t need them he will do just fine without them!
@@choyunglap1050 yeah lol he probably wanted to leave the room
@@steveb4748 I have unfortunately
@@steveb4748 how is that a bad thing?
@@steveb4748 he's 17, my guy. and why wouldn't you take the advice of your elders at an age where you haven't had much experience?
This kid has now got a net worth of 200 million at 19, well done indeed 👏🏼
Mad
does he really?
@@Loadin1323 thats what it says when I looked up his business.
@@charliedronfield5835 pp
”Posted 4 month’s ago” can’t you see that this is just a joke. Edited oh my gosh so many people are telling me that it was made a while ago and I know that can’t someone know what a joke is!!!!
42% was an aggressive ask given his profitability and momentum. I think she was taking advantage that he said she was his role model.
That's what they all do, good on him though you don't need sharks to be successful as Ring showed everyone. The sharks did it on their own so can others. The one thing I dislike about shark tank is how highly they vaule themselves. AU ST is better than US ST in that regard but they still do it. Experience is good but every business is different and they all have to find their own unique way and opportunities.
Exactly
Also to add Shark Tank takes 5 percent just for just pitching your idea. So 47 percent in total equity. If he wants to get more investment later he would be screwed!
Adam Francisco couldn’t have said it better myself
Adam Francisco I’m the 1k like
Based on his sales numbers , these "sharks" would be blessed to get 10% of his company for 200k
I know rite,, easy peasy,,,, get the marketing team fired up,.
Indeed.
I agree he is going places
But he should offer 12% would be fine but he offered 20% that's the big mess where he lost the battle
Not really lol
The kid didn't come here to make a deal
He went there to get free advertisement for his brand
You sure?
@@adenjohnson5733 mate we all know his main purpose was to advertise his brand not to get a deal
he making more money than they would lend
@@lysssky2 I doubt he needed the money, as you said. It was more for their partnership. I'm sure he came for the advertising but it looked pretty clear he wanted her as a partner and she tried ripping him off.
My mom was told by someone at her work that someone they knew tried to go on the american shark tank and they basically had to spend i want to say $50k (or something ridiculous like that. I remember it was in the thousands) just for the opportunity to possibly make it on. So i can't say it is free advertising as they still would have to spend thousands. 🤔 But I imagine it's far cheaper than filming and paying for ad time on national tv for sure haha 😆
He is literally putting in ALL his time in this business and she offers 42%... that's just stupid..
That's a shark shameless
That’s the business mate
Its also donuts and a 17 year old high tisk
Agreed
The sharks want the best deal they can get. Main goal of the sharks is to make money and not to help others. Making deals they can make money with is their job.
When sharks call each other "ruthless", they mean to call them "greedy as hell".
True that!
Roygo true but that’s what business it’s sad but ye
@@dwightschrute8902 but with a kid come on man
When he said "This is fun" I starting crying. You could see the pure joy in his face and hear it in his voice. He was meant to be in this business and an entrepreneur.
Makes sense. Making that kind of money at 17 doing something you love has gotta be amazing.
Same here
Get a grip
He really doesn’t even need money from them, I think he’s doing pretty well all by himself.
Ikrr
But the publicity is great
Exact thoughts
His net worth is higher than a few of theirs
@@Tweetypi16 He can build his own publicity if he can use social media effectively.
this makes me so mad and im so glad he didn’t accept those awful offers. 42% for her sweat?? he worked his ass off while in school and she really thinks she’s all that
Exactly!!😤😤
Y’all talk big towards someone with a net worth of 66 mil while y’all’s is 2 pennys and an opened bag of potato chips
@@resist8276 funny your the same as us then 2 penny’s and a open bag of potato chips
@@jiro_fanboy_7627 You added a ton to this🤦♂️
@@resist8276 guida ain’t wrong tbh
This dude is 17 starting a business and I'm 18 here still can't ask for a tissue at McD's
Bro rightt😂
🤣🤣🤣🤣
Only 18? Plenty of time to start a business
teach
He started at 13
HAHAHA the exposure from the show alone is more effective than having the thieves trying to steal from him
That’s why he went on there 😂. He needed a commercial
@@nikklovenobody Exactly
I just posted the same thing lol!
“What do you do for fun?”
...
“This is fun.”
Now that’s passion. 👌
So inspiring .urggh I wish I’m the same as him. I need an idea to make a business
@@nR-nc8mb not only an idea, but the drive to work insane hours for years on end on basically a wager that it will succeed.
@@At0micMeltd0wn how do you make an effective business that doesn't take insane work
Here take 500 likes
@@nR-nc8mb I have an idea in mind... I need to patent it first tho.
She's ruthless. 42% is stealing basically. She doesn't care about taking advantage of a 17 yr old
@Hallie copied
@Hallie You just copied word for word the most liked comment on this video. You got no shame
@Hallie well aren’t you original 😂
This is business, and she isn't taking advantage, she was paying 200k, he could decline as he did
She's a millionaire, I'm sure he's not the first person she's taken advantage of
This guy somehow is able to flex extremely hard but is down-to-earth at the same time
thats what happens when you stay in your own lane and focus on striving rather than what others are doin bro got his head in the right place for sure
He honed his craft and it shows. He doesn't need to say a word about it, it speaks for itself 👌🏼
Wise father and obedient son. They both made correct decisions here. They are going to be hugely successful.
Worth 200M$ mate 😵💫
42%!! She was trying to rip off a kid. That’s just cruel and criminal.
That's their job and just how it works. The sharks want to make money, that's the only reason they sit there.
Some call that marriage or divorce
He's been in business for 4 years, sure he's young but that's plenty of time to learn the numbers and how to negotiate.
I mean, they are called sharks for a reason.
CGV Good point.
She knows the value of his business that’s why she dropped to 33 so quickly
Ow hes woth 200 mill and she’s worth 66 😂
Lmao think they care about donuts 🍩 it’s the area where it’s located
@karan bhardwaj it's not his fault literally multiple people saying the 200 million number
He should have never said her name when they asked who he admired in the business. He gave her all the bargaining power, that's why she asked for so much.
So true.
then again he said it only because he was hoping for her to invest
@@pavelsokolovic4097 yeah I think that was the right move, at least he got a 'mentor'.
@@TLiu-1b that ‘mentor’ will probably use him, trying to get him to pay back her ‘kindness’ when he gets more successful.
@@theautisticartist9370 Sure, she can try. But she'll have nothing to stand on. It's not like he's going to sign a contract.
I am proud of him for standing his ground. To do all this at 17 is beyond amazing. He has got enough drive in himself to make a success, whatever his situation is.
1. Asking 42% is highway robbery
2. Can his donuts please come to the US, they look VERY delicious
agreed
"look delicious" is like saying "taste beautiful."
I’ve had the donuts a couple times they are sooo goood
There in the Us same thing but different company
No there ours
I met his Mum like 3-4 years ago when I was working at a bakery. She was so sweet and handed me his business card! She talked about him so proudly 😌
Ha
U wish
@@alexgardner5997 she's not Lady Gaga or Beyonce, she does go to normal shops like the rest of us.😂 Just thought I'd share the cute encounter!
@@soccer0940 What did she order?
@@Samld1200 I could not for the life of me tell you, but it was probably a high fibre loaf or sour dough because they're the most popular.🥴🍞
I was shocked after she said 42% and just started laughing... that was simply disgusting
Rich people will do anything
I mean she was laughing at the joke that was made, but yeah. Money is greed
For her it's another revenue stream, for him it's his dream.
@@hexaltheninjawow9531 damn true
Same
Good dad. Saved his son from a lot of headache right when he needed it.
This kid looks like Miley Cyrus and Tanner Fox had a baby
This is too accurate
Why tf is it tho
😂😂😂
came here for that comment
Hey hey be nice lol
She was like.."even if you walk away from this, I'll still mentor you and help you". Basically inserting herself into his buisness so that he would feel obligated to repay her for her "kindness" later when he grows even more sucessful.
And if he's smart. He can repay her, by having her buy his stock to be invested into his business. That way he gets the win-win while being able to control how many shares of his company can be purchased by her. He definitely isn't dumb enough to give her anything for free, so he already beat her by just having such a great product at that young age.
That's why she's a shark love. There aren't any friends in business.
It's business. You can't be successful and broke at the same time.
Edit: that being said, he's a smart business man and made the right decision.
@@Tenekai .... lots of broke people are successful. It’s called debt.
@@duncanclan6186 haha i agree, but broke has the connotation of being completely done. You're referring to putting money into assets, which isn't actually broke, imo.
He made the right choice. Sticking to his guns.
Yeah man. 42%?? and he also would have to pay taxes on top of that. He would only be taking home like 40% of his profits!
No offense but he made overly stuffed doughnuts like?.. not worth it to me fam..
You just spoiled the video before i even watched it🤦🏾♂️😭
Bon Heur that’s why read the comments after you watch the video.
It wasn’t his guns it was his dads
He’s a kind hearted young lad, passionate with his vision and he did seem stunned with what was happening that the sharks had to direct him to make a counter offer. But im glad at the end he stood his ground. After that show, his business grew and was even featured in Masterchef Junior Australia.
The kid already makes more money than his teacher and principal combined. Give him his diploma and let him move on in life.
what if he goes broke and literally has nothing to go back on? most new business do these days. Good on the parents making him stay.
@@6jackace He would have his diploma. So he could go on to college any time he would like. He could even get a business degree right away. But there is nothing worth learning in your senior year of high school that is worth more than scaling your business quickly enough before competition moves in.
I found it unfair for teachers in middle and high school to not get paid that much but I know why goverments had to do this to them.. So they don't run away with the money they get from work, because they are teaching us.
Mr. Spy
You get payed money based on how difficult it is to get your job. Getting a teaching degree is incredibly easy (practically anybody can become a teacher). If you want to make money, do well in school, so you can get a challenging job
@@c--money9188 How is that a rapper can make money even though he/she dropped out?
Watching his smile slowly disappear through out the show was just such a mood
Y
Even the other sharks reaction tells you that she was trying to rob him
This made me think "What the fvck have I been doing with my life". I've been stuck since i graduated college due to financial reasons and don't know what to do next. But this kid already have a stable footing in life and i respect that!
My son was the same. The pandemic hit his fledgling business hard so after a year of getting bits of work here and there he's gone to live on an amazing island, working in a hotel and working on the business in his time off. It's not easy but at least he's got a steady income whilst he works out his next step.
I am so glad he didn’t take her offer. I feel like she would just steal his business.
That's the business world
so you guys just discovered why they're called sharks or what?
Yeah the balls of this kid to say no. Kudos to him. That takes real courage. Trying to swoop in at 42% when he already has a business that’s about to blow up completely.
His Dad knows best.
Yes
This kid walks in & says 200k for 20%
Mark Cuban: Deal. Send the next guy in please..
Totally, at 350k net profit, he asking only 3x earnings Val. It is rare to find a young person so focused and doing so well. I would have backed this young man in to make my 20 per cent super valuable in 5 years.
because they are still making a profit from it, mark cuban has a reputation to hold up and 10-20% difference is gonna be like 5-10 million difference in profit which is nothing to him and either way he will still be making a few millions $ profit from a 200k investment plus you keep your partner/founder of the company happy by not taking too much of the equity away from them
Mark Cuban is my fav shark
Shark tank USA is way better, they actually have money to invest. All bottom feeders in Australia, they need real investors for this show.
@@caesardagreat1 the us is failed.
They're treating him like a child and not like a business owner.
@@mvc1701 what is your point? He means his stuff, so they should treat him like an adult because he's doing adult shit.
@@bvnny1379 well said
Both of their offer are rip off to the max.
And when they saw his mum coming in the shat themselves lol
His body language doesn't help.
You know just listening to his dad for a few seconds you can tell; JUST there, that they are the people who encouraged him to be where he is today!!
Hats off lad regardless of your parents;)
Yes. Rare to have such parents
he really stood his ground. he's gonna be successful
He really _stood_ his ground.
But I’m glad his parent made him stay on at school, a lack of education is such a sad thing.
@@JulieWallis1963 wow smartass you spelled it right thats impressive but who asked
@@electropower1317 Some of us care about how we type or talk, Sometimes it helps to be shown the correct usage of a word. He wasn't even being rude, but you are...
@@K-ro7lm i just think its really nerdy and "white" to correct someones spelling which no one gives af about + someones point doesnt change because they spellt something wrong so people should focus on the right thing. also i get quite triggered when people do annoying things so focusing on grammar annoys me
@@electropower1317 The reply wasn't just the person correcting them, and I don't see how correcting someone in vocabulary is a rude or bad thing to do.
I think he did the right thing by not giving more than 25% away. Although he looks emotional, he will look at this in a few years and smile about making the right choice under this pressure.
my guy's already worth 200 mil, well done mate
That kid will outdo everyone in that room within 10 years
These are sharks they won't let that happen.
Definitely not lmao.
A small doughnut shop versus insider trading. Wake up that’s not how the world works
BaeWuf what abt Dunkin' Donuts
Highly agreed
God they made him cry with those offers. He knew they were trying to rip him off, I think it broke his heart a bit. They really are sharks...
He doesn't need them. He's extremely driven.. that woman is dangerous, I hope he didn't spend time around her.. not cocky but crazy cocky ..
From all of this likes, I'll be the first to comment on this 🥺
And also you right.
@@vampyboo1433 true that
She wants everything and employee him
Honestly this kid deserved being in front of US sharks instead. Unfortunately it seems like these sharks can’t go vary deep in their own pockets
The US market for junk food like this is massive, and if he were US based, he'd likely be around a million per year. We're talking the same people who spend $10 on their morning coffees at Starbucks. In the US, he wouldn't need a shark.
And Americans would buy it more cause they’re fat
Not necessarily, like you guys mentioned us has a larger market for fast food and junk food. His product wouldn’t last, as you guys said it’s a large market with a lot of competitors. He can’t patent food like this because there’s a lot of grey area. Therefore other competitors with more capital and work force will eat him up in 1 quarter.
@@sihyunpark6245 That's exactly why he would be so much more successful. If his products are better than the competitors, he will make a fortune and in a few years get bought out for enough money that he'd never have to work again. Assuming, of course, that he is good at managing money and investing it. The company who buys him out would have the capital/connects/infrastructure to reduce the cost per unit, and use their distribution network to make it available to the entire country.
Lagon78 I’m saying that he won’t have the opportunity to grow in the junk food market in the US compared to Australia. In the US. Every other corner has a dessert store that’s extremely unique, I see insane food that looks identical or better than his on Instagram every 3-5 minutes of scrolling. Secondly it’s impossible to patent food with ingredients of other companies, therefore most of his recipes can be duplicated. Other big company like Dunkin’ Donuts can just create the same recipes with no legal repercussions, they have the capital to lower the price and with their thousands of franchise stores they can make him worthless. Would you buy the same product from him who might have 1 or 2 stores or buy from a big brand that you can trust for high quality? Especially at a lower price?
This kid's killing it, and his parents were smart to advise him to stand firm. Good on him.
love the statement "Don't get on your knees whatever you do". Good for him i would of told no thanks
My guy didn’t even really need the money, he just had the greatest ad of his life.
(If you’d like you can read this with an Aussie accent.)
Bro after listening to this for 10 minutes I'm reading all the comments with an aussie accent 🤣
my aussie accent ended up sounding british
@@meanzuno3192 and that is how the British took over the world
@@ridingtothegrave 🇬🇧🇬🇧🥵😏💪🏼🙌🏼🇬🇧
my Mum is Australian but I was born in Canada, Ive been to Australia more times than I can count and Its been so fun every time, needless to say, I read everything in an aussie accent XD
Christ, my heart was breaking at how his smile just disappeared over the course of this video. Bravo for him for sticking to his guns though!
Don’t worry m8. He’s worth 200mil now. She’s only worth 66.
@@mathewdonaghey6279 he’s worth a little over a mill mate
He doesn't need these guys, he's already a success
"Age is no barrier". Yeah but those pants will be, I almost died when one of the sharks said "Cool pants" Ahahhaha
Clothing doesn’t matter when you have a successful business
YESSS I LOVE YOUUUUUUUUUUU
I appreciate everyone telling him no to the 42%, especially Steve saying he forbids him from accepting that offer.
I’m sorry as an American, but when his father picked up the phone with “G’day mate” I about shit myself laughing
right?
My partner's a kiwi and he answers the phone with it as well 😂
Can smell your shit from oz
Wakes up at 4, works, does all his homework at break and then works after school. WTF, this is why I’m not successful.
Hahahhahaha
Funny but sad shit Ify
"Entrepreneurs work 80hrs per week so they don't have to work 40hrs per week"
- Mark Cuban
🤣
@@kindainteresting8653 so what is the meaning ofthat?
I don't think school is going to do anything more for him. he's already got success figured out.
Jesus! His dad answered that call quicker than Usain Bolt
He was probably waiting for it because it is a VERY big deal for his son
Wouldn't you 😂
Konstantinos Spartalis true true tbh my phone would probs be dead lmao
Lol
@@konstantinos4395 no i would be there like his mom was.
I feel bad for Steve he’s super underrated
He’s the only one that invest in Australia shark tank all the others are broke
Ur right, I think it's his attitude that screws him a bit but his offers tend to be a lot fairer that everybody else and he more straight to chase than everybody else
@@leodevenney6885 I agree: I think he'd be unpleasant to work with, which is why he gets fewer people interested in making deals with him. He's very negative and seems angry.
No he’s actually really overrated. He’s a bogan
He’s one grumpy ass tho lol
Felt like she was trying to manipulate him lol thinking he’s a kid
Oh my! It's god! He has come down from the heavens to comment on a Shark Tank video
Your comments seem to be everywhere, what made you come to this distant corner of youtube?
@@wabbit4936 to look after my children young one
God who are you
@@God-gi9iu I am the true creator of everything
20% for 200k already seemed like a lot for a working and growing businessmodel with a passionate CEO.
This kid is motivated, doing well and knows what he is worth. At 42% he was clearly insulted and justifiably so. Steve at 30% would have been the best option if he negotiated down to 25% Steve would have done the deal because he saw how motivated the kid was.
Definitely. I mean she is valuing his business at 476k and change and he would make more than that in net profits just in the year this was pitched. Smart move to take her as a mentor instead
Steve is not a good mentor for food business and the kid knew that. He was here for mentor , not for money...
If he didn’t show his bias towards Jannine so much I think he would’ve been able to negotiate down to 25% with Steve. I think Steve was a bit insulted that the kid was still trying to make a deal with Jannine even after she tried to screw him over.
Lolol she says “I’ll make you a deal” then goes 200k for 42% LOL
“i’ll try and scam the shit out of you”
@@Caleb-vq2uy LMFAOOO
Yeah HELLLL NAH
She’s heartless she’s a millionaire and she’s trying to use a 17 yr old smh
We're talking abt business. Business is like that
@@alldaywildmusic1774 you gotta admit, it doesn't make it any less ethical
That is why she got millions and we are not.
It's how reality works.
@@alldaywildmusic1774 Bussiness is one thing, scams are a different thing, you can do bussiness without snatching someone else's bussiness, 42% for 200K is beyond all rationality
“Age isn’t a barrier”
“May I go back and have a chat with me mum and da”
his parents are the ones who set up the business with him.... of course he's gonna want to speak with them as well
He was smart to get a second and third opinion the only barrier is restricting oneself to try and prove something that is meaningless
adults to that to, so whats your point
My point is, adults don’t do that. Unless your investor is your Dad/Mom, then you should be able to handle it solo. He froze up and needed help. Not saying he’s not solid
@@aidansyracuse3338 he is 17 his parents are his investors
Am I the only one who felt really awkward that he was totally disregarding Steve even though his offer was significantly better than both of Janine's offers? Lol
I think the reason for that was because Steve's experience in that industry was lacking compared to Janine's, so the equity he offered was less valuable
She saw how much money he would he worth later and was hoping his inexperience in that field would make him think of her deal. But jokes on her now that he’s worth over twice than what she is
Janine is an expert in the food business and he admires her. Steve has little to do with food.
Experience beats out the %
@@norsethenomad5978 Lol no, he is nowhere near worth as much as her. His net worth is 1-5 mil while hers is at least 60. I know there’s a source saying that he’s worth 200, not true. The conflicting sources prove he is nowhere near worth enough for people to make to spend tome to make an accurate estimation compared to her where ALL sources say she’s worth around 60-70.
I think 20% is still high honestly. He can just keep doing what he’s doing without these rat ass criminals tryna steal his equity
Your missing the point of the show
but of course he will get on a lot better after this TV appearance
Yeah but need investor and advisor
Nguyễn Thanh Right, just being on TV is a huge amount of exposure, I’d bet his business skyrocketed after this, shark or not
Perhaps he should have offered 10% so he could negotiate to 20% which was his hard line. But what an amazing Kid! Wow.
42%!!!! She tried to take advantage of his young age
Ahaha then she jumped down to 33 percent that’s still a lot I mean 1 /3rd of the pie geez lol she’s a snake
@@brianandres1096 Most of women are today...
People profit of money a lot sadly when they can ..
Its business. Aren't you supposed to be smart "albert einstein"?
@@knlkcnsdlcs Yeah, but that wasn't a smart move, in that situation that was the dumbest move in the program (in my opinion)
The fact that he got free publicity and a mentor is a huge win
Busting 60 hour weeks out and she offers 42%. So greedy, he's clearly doing OK on his own!
Facts
He’s done ALL of that on his own at SEVENTEEN. 42%?!? Is she out of her MIND?!?
He looks like he wants to cry I feel bad for him just give him the 20
That's not the point you can't just give away a lot of money just cause you feel bad
Shhshshs Bsshshs EXACTLY
@@shhshshsbsshshs903 I mean.
Theres literally nothing stopping them.
They aren’t feelings in business, if you are soft in business you will get crushed
Midnight Dazzle what counts as a real job then? if you are doing work it’s a job
"There's something wrong with the water heater, we need to call the boss"
"Not until 3 when he gets out of school"
This feels like a "don't meet your heroes" kinda moment. I'm happy to know he's thriving now!
His father knows his sons value and stood by that faith. I love it. I wish this family success
What a greedy woman. Glad to see he is wealthier than her now😀👏
Yes. 👏🏽
Should replace her with him get a younger shark in their
He’s definitely not richer than her lol
@@tksaint8429 yes he is. he’s worth 200 mil, she’s about 66 mil.
@@sashita17 yea whatever you're reading is obviously wrong cause idk any donut shop that is worth 200 mill other than like dunk in donuts.
Just had to look his business up after seeing this on Facebook and watching the full shark tank episode- for anyone wondering his business bistro Morgan was estimated to be worth 200 million in 2022 which is incredible such an inspirational young man
No way. Not possible.
I love that hes worth 200million now while she’s worth 66million. She got greedy and missed out
Lloollllll
Seriously 200 omg he’s Smart for not falling into peer pressure at his age
Lol no hes not worth 200m.
Hes not worth 200 million, it is estimated he is worth around 1 and 5 million. Good try getting those likes though.
I agree I was like if I had the money I would take the 20% it’s common business stock knowledge
Him at 17: has his own business
Me at 15: still playin with nerf guns
Lol ahahahahahah same
Me at 45 still playing with nerf guns
Finally a entrepreneur that has a basic grasp of business fundamentals. He is going to net 350k. At 42 per cent for 200k, Janine is valuing the biz at 476k, less than 2x net profit. Very happy he didn’t make that deal with her.
He kept the holding and is now worth $200 million. Just amazing
He got the best deal ever. Leaving with a mentor without giving up any piece of his business. A mentor should never be undervalued. And IMO a mentor (especially for someone younger) is worth much much more than what he asked for.
How you know he's doing the right thing is when they say he's working harder than most people they know and asked "when do you have fun?" And he says, "This is fun." THAT'S how you know you're doing what you're meant to be.
It’s very rare when someone says they will be their mentor they actually won’t. She probably said that to not be “ruthless” and she probably didn’t give him her “time” shortly after. I’m glad he stood by his principles
I'm 26 years old and I'm very much inspired by this guy. We just started our restaurant business and unlike him I'm nowhere near confident of it so his can do attitude amazes me. It's never about the age but all about the grit.
Two years later, how's it going?
“Morgan both of your parents have died in a car crash”
Morgan: “yeh, no worries”
😂😂😂
That isn’t even funny he’s a kid and doing pretty good on handling them throwing there bs at him
@@kasseydenison4095 INTERNET HERO ALERT!
Mitchell Perry keyboard tough guy much get a like u dam clown
Hahaha
Why are they laughing at him when he walks out that’s so rude at their age they should know that and FYI dnt they know the kids are our future
This kid is a force to be reckoned with! He'll be a millionaire before he's 20!
As of 3 weeks ago he was worth 200 million at age 19.
@@katiemassey9028 Net worth is different from company valuation.
@@Kwokkie.89 What do you estimate his company valuation to be, knowing that his networth is now 200 million? I am not familiar with this kind of stuff, so genuinely interested in your answer!
@@AlishaArlene Well, to be honest, 200 million probably isn't an accurate number, I searched the web for his net worth, but found multiple answers with no evidence to back it.
I must say, I am extremely impressed with this young man's dream and how he has used tenacity and commitment to make that dream a success. He's 17 and he has a bigger business than I do, and I am 20 yrs older. And I respected him for not taking their offer. He has invested A LOT of time and creativity into his doughnut business and CLEARLY its working for him, given his yearly sales totals. They might not be cheap but he's not a fool. He's not willing to just GIVE somebody what he has put his life into.
So sad to see a millionaire try to take advantage of a kids business.
Business is business at the end of the day, regardless of age.
That's the reason why the sharks are there. It would be pretty dumb to go for a deal that doesn't give you an advantage.
It is called shark tank
Yeah granted the show is literally designed for scummy business deals.
I would assume they do this for drama and more views.
Did Australia not have doughnuts before this kid???? Holy cow he’s making bank
Not the way he did nor the way it tastes?
His donuts are really creative unheard of flavors with syringes full of different syrups if you haven’t noticed
saima houqe that’s been done many times before here in Los Angeles lol
I heard he uses second hand syringes #notmybthorg
Ok boomer you live up to your name
They feel so entitled to other people's money. 20% should be max. Getting you? He needs funding and you exploit it
but I mean like I get why they did 30 percent if at that point your giving 200K and it ends up not working out you'll lose a ton of cash
30 percent is fair, 42 percent is fucking ridiculous
They would are putting 200k on a starting business where there is already many competition owned by a 17 year old of course you would want more
@@chancecarlson2023 there was hamdog which did $2 for 50% of the business
@@bigtoe3647 *you're
I’m sixteen, and I don’t even work as hard at school as this guy does at his job. Humbling. He knows what he’s worth, and it’s inspiring. I want to work harder now.