Entrepreneur Discovers Product in ABANDONED FACTORY & Patents for Distribution! | Shark Tank AUS
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- Опубликовано: 21 сен 2024
- Joel Norford from 'PENTABLOCK' kicks off the pitch with extremely impressive claims that his product will speed up the average stonemason's work by 49x. Joel seeks $350,000 in return for a 10% equity stake - high evaluation for a business founded off of scraps in a factory...
Company Website: pentablock.com/
An international sensation, Shark Tank AUS features entrepreneurs pitching for investment in the Tank from our Sharks, five venture capitalists willing to invest their own money in exchange for equity.
As Seen On Shark Tank Australia Products: amzn.to/2ZJBbyf
Shark Tank US Products Collection: amzn.to/3bMNjmI
#SharkTank #PentaBlock #Original
Got to give it to the guy for being honest. Most innovators these days would just make up some story about being ‘inspired’
He shouldve
Ethan K he should have.
MiketheYung God should of
Marksman King he didn’t steal it - legally the rights are there for his taking. He is being honest by disclosing the idea did not originate with him.
Marksman King If I throw something on the ground and no longer claim ownership of it, are you allowed to pick it up and use it? Yeah, you are.
The Vietnamese factory owner watching this like: "Wait a minute..."
As a citizen here, I can guarantee you that the person who came up with this idea didnt file for a patent at all. Copyright and originality isnt a strong thing in VN.
@@tigera6 It probably never was gonna go global but still, kinda sucks that prople are able to patent other people's ideas.
@@tigera6 This has existed for a long time now, so the factory was likely making ICF block under contract.
@@whyisblue923taken The factory is still operating today Dec 2021.
for anyone wondering as of 2020 PentaBlock 's networth is an estimated $200 Million, which is incredible
Wow
That’s awesome 👏 good for him
Jenin is a very good shark she's amazing
Time to start searching abandoned building for lost tech
@@cottageculture9263 Horizon Zero Dawn.
This man is a great example for you kids that if you work hard enough you could always steal some other man idea.
.
LOL!
Funny but the idea was likely lost to a failed business and forgotten. If this man didn't come to reinvision that idea, it would still be lost.
Still original inventor should be looked for you never know
It's not stealing, it's competition.
"highly unlikely 3x the business every two years" these sharks really know how to play down a company's success... He did more than 6x every 2 years
But right after he left Andrew said, "He's gonna do 5-6 million easy..."
God damn negotiation plays.
It's called negotiation
The sharks do it all the time, they tear into the company, pointing out all the negatives to get in at a lower price/higher stake. Kinda like trying to buy a car lol
I'm done investing in Companies and the stock market. after entering the crypto market in 2016 the percentage i can make with cleaver Trades in the crypto market. it just crazy! seeing 1.000 to 17.000x daily isn't abnormal!
Ive been in construction for 20 years, this is an absolute game changer. I respect his honesty for pulling the idea. I doubt his patent covers the interlocking system but more so its cladding abilities
As long as it pays the bills, gets him some tacos and steaks, and gets him laid.......its all good.
Bad news for real handwork.
Just what we need, more unskilled fake work to make everyone keep asking why we want good money for the real thing. Take all the skill out of the oldest trade.
@@Scrounge4 Eh, the "real thing" is fucking annoying as shit, especially in a basement, those boards are heavy as fuck and the pegs, oh my god the fucking pegs. Ive never worked in construction but I helped build my parents house and we had a pretty large basement, doing the cement pours was the worst part because you had to fanagle these hundred pound 8x8 foot long boards in place. Then put like a thousand pegs in to keep the boards together and then they pour the cement which has to dry. Finally the boards come off a couple of days later and you have to break off all the pegs you just put in before you can drywall. If you could just set those things up with drywall blocks and then you could just set up your basement yourself (after the architect dude comes in and marks exactly where everything goes with string or paint) and save yourself thousands upon thousands of dollars. After that instead of needing to drywall you just apply puddy to the gaps and sand down a little (which youd need to do anyways because of the nails so its the same amount of work without having to hang it again saving a ton of money)
Also most exterior walls in a house arent cement, it wont replace standard masonry
@@trevorcathcart7047 if you get laid often enough no handwork is needed.
This company is worth 230 million (2019) this lady just got her risk pay back big time for 150k her 17% is now worth 39 million
Damn. Good on her
Don't forget that the other $200k may have been in the form of convertible bonds.
I'm going wanna join mr
I think it's the first time she made a good offer on the show
I've never seen one of the results from one of these investments before. Thank you
Who goes roaming around abandoned vietnamese factories searching for business ideas?
Batman?
Sounds fishy
Made him a million stealing/improving the idea, so it's not that crazy!
He was rummaging... then just like a thief, he got lucky stumbled on the product and stole it.
Connor Smith-Birch a now millionaire
This honestly has the potential to make billions. The amount of buildings build with brick and mortar in the world is massive. This has the potential to replace a traditional cinder-block. If it really is stronger then this is one of the best products I have ever seen on sharktank.
Because it's so much stronger, I think it's agame changer for the Southeastern Us where hurricanes are prevalent. Insurance companies will likely give a discount for homes made from it.
@@B_Bodziak add a flxible filler like urethane instead of cement and your house dont crack in a quake
Legit all the lady in the red does is sit and judge and smiles then says I’m out
Similar to Barbra in the American SharkTank. Though I will say Barbra has had very successful deals done.
Just not her niche.
@@DannyGrc barbras also the least rich shark on the show
I don't like her
jenny 2.0
"I think there is an issue with scaling so I'm out." Later.."You're going to get your money back in no time. He's going to do millions." 🙄
Charlie Harrison sharks tank fucking sucks dragons den is 100 times better
Warren Buffett once said one of the best local businesses is a stone quarry because the cost of transport eliminates competition. The same would be true here but with valid patents licensing can work around that to some degree. In other words both statements can be true at the same time.
@@Yagizino Bro dragons den is so boring... no personality and looks very low budget. The U.S. and AUS versions are way more entertaining higher budget and better inventions aswell.
@@SomeWhiteMF U.S. way more entertaining but sometimes super rude to people. Australia is kind of entertaining but way now respectful to each other(sharks) and the entrepreneurs
@@SomeWhiteMF yep and most of the dragons suck
Founder? You mean finder lmao
This guy definitely family to Columbus
@@JamesBond-ir1yj lol
No founder
But he didn't steal the block idea... He simply added a fascia to the block and patented it.... Which is pretty smart.
Same in different products.. like cellphone.. it depends of quality and value.
That’s one of the most confident and well planned pitches I’ve ever seen, this guy absolutely knows what he was doing. Being honest about it wasn’t even a gamble for him!
This guy is super honest its admirable, I mean it would be almost impossible to able to link him to finding the idea in the a factory in Vietnam through normal means
What are the abnormal means to pry the information from this guy's head?
@@attoboi9763 Like some ultra good personal detective going to great/illegal lengths to gather information and piece everything together
He's anything but honest. Ffs.. He stole the idea from some poor bastard and obtained the patent for it.
@@nashdapistolshrimp8641 that guy didn't capitalize on it unfortunately..
Thats how the system works, I've thought of a few ideas that others ended up patenting
@@informationyes tbh I want to read that novel. I can see it now ... Investigative journalist in Australia (she's afraid to trust people but kinda in denial about it and it suits her work) writes about property development and construction industries, right, and she notices some shady inconsistencies in some company's story behind some famous industry-standard product (to be clear I'm riffing into something entirely fictional at this point, not implying anything about the video) ...
Our journalist digs, and winds up meeting (and initially being irritated with, but they'll be into each other by the end of the story) some dude whose dead dad had some controversial issue where the company screwed him and hushed up what it was about and may even have offed him. So of course the son wants justice. He (now officially Protagonist #2) and Journalist begrudgingly team up, and start piecing together an IP theft plot involving something something corruption fraud international whatever. (The story narrates along our journalist's timeline/general perspective but she's not the narrator, btw, just third-person narration.)
Right after they start suspecting this, they somehow end up reaching out to some Vietnamese chick, she and her dad were brought overseas by Big Bad and her dad was directly taken advantage of but she doesn't know details, all she knows is her dad was also disappeared by the Big Bad back in the day when Dude's-dad found out about the Corruption Fraud International Whatever and tried to whistleblow about it. She and Journalist are both cynical and mistrusting af but they counterintuitively connect on that wavelength, and a lot of the story's humor comes from their wit and snark contrasting that of the optimistic, exuberant, and slightly naive Protagonist #2, maybe. But they've all got clear strengths and quickly come to respect each other.
They all wind up going to Some Place In Vietnam to find out more info, even though the Vietnamese chick/Protagonist #3 only remembers the town name and the nickname she called her dad's best friend (he was like an uncle figure to her) from this old factory they had worked at, who might know what's up. They get there and, in some zany encounter, meet a weird grizzled eccentric old dude who seems like a brilliant local guide and private detective, but also possibly totally insane and like he could be conning them. He keeps them and the reader guessing constantly. Bulk of act two is them working with him, and crammed full of classic mystery novel tropes being alluded to and joked about and toyed with. Actually I'm declaring the whole story is full of these. It's a serious drama but also a lampoony love note to mystery novels. Anyway, our lead detective's personality that I'm going for is Hercule Poirot meets Rafiki from The Lion King.
Vietnamese Chick has been personally growing and becoming a more love-expressing person this whole time, right, she's back in her hometown after all and something something family and cultural themes and music and food and all the good things. Dudetagonist has been learning a bit of world wisdom and also getting less judgmental of others' trauma responses and being less toxically positive (oops he's becoming my self-insert character lmao). Journalist is gradually developing self-awareness about those areas of growth from being along.
So of course, after a series of adventures, we have to fit in some kind of emotional fight and/or sizeable mistake-related learning experience, like Journalist screws up a judgment call of not trusting Grizzled Guide Guy or something and the others call her out, maybe, idk, I got lost in their arc tangent (ha pun retroactively intended) and if it's not obvious by now I'm not a real writer and am making this up as I go XD
So anyway, right after the emotional/teamwork turning point, they OF COURSE end up finding an abandoned factory where GASP they find an old original prototype of the revolutionary IP that the Big Bad exploits AAAND AAALLSSOOOO molds and models of other major industry tech innovations that Big Bad has patents on and licensed production of WORLDWIDE. {Insert choir of angels moment}
Also I'm thinking by now there's also a clear local history of the local people having suffered environmental and economic harm from some forced shutdown of the factory by unspecified (but we know who duh lol) bad guys back in the day or whatever. Because who doesn't love a prorevenge story with epic layers of innocents getting justice or something lol. So there's like evidence at the site or something that connects directly to Big Bad being present at that time, maybe.
Now, a note: Let's make Vietnamese daughter chick have awesome adoptive parents from after she got brought to Aus and after her dad got disappeared. Let's make the mom a charming little old paleontologist who has dinosaur metaphors about everything, and the dad a charming little old geologist. Pretend we briefly heard the chick make reference to them back in act one, and that she eye-rollingly said some cynical line about dinosaurs that we can call back to for laughs and theme and metaphor later.
Anyway, our trio of heroes comes back to Aus (they never found the man Protagonist #3 remembered, but as they leave, let's heavily imply that the crazy little old grizzled detective man is totally that guy, like he says some particular saying or line that _could_ be coincidence, but could also be an intentional giveaway referencing her childhood or dad or whatever. She lights up with a questioning smile and he gives a knowing twinkly smile back, right before the trio boards the plane. It's ADORABLE.)
My phone is starting to lag about my typing and I think it's due to how long this is so I'm gonna post this and put act three in another reply lmao
I respect this guy more for being honest about finding it then I would be if it came out that he lied to the sharks and wasn’t up front about it.
Naomi: 'Let me tell you where I am. I've spent years promising entrepreneurs that I'll "be a customer", so I have no money left with which to invest, because I've spent it all shopping. I can't even afford to change my outfit on here. I'll be a customer...assuming I have any money left, but as an investment, this isn't one for me. I'm out.'
Best comment 😂
🤗😂🔫
I’m outch*
Has she gone bankrupt recently? Am I missing something?
People "steal" ideas all the time and throw their own spin on things. As long as the original idea can be modified to create a new patent, people / businesses do it all the time.
my buddies dad is really successful from doing this, he was in the finance department, the company didn't think it could make money, so he bought them out for cheap and now he's killing it. Same thing, really. It takes more than a product or idea to make a business.
LEON HOUSE: Mobile & PC Games, Music, Vlogs & More
Agreed - at least he was upfront and honest about it.
LEON HOUSE: Mobile & PC Games, Music, Vlogs & More yea but that says a lot about the entrepeneur, he hasnt invented shit
@@Yagizino I respect inventors more too, but at the same time, this entire show is about 5 people investing money in other peoples ideas anyways lol
Sure, but the guy is a complete business idiot for saying on TV how he got the idea in the first place. Now, if a competitor wants to copy the concept and challenge his patent, they can just go to Vietnam, look for prior art there, and play the video of his admission in court. At the minimum, he should have said that he got inspired from something and then adapted the idea to his own needs. Saying that he copied the idea was really stupid.
That being said, it could also be that the sharks kept on questioning him and that the show just edited down his response out of context to make him sound bad and create more traffic for the show. I hope for him the latter is the case. At least, if that's the case, he may still be able to defend his patent in a court of law.
This is one of those ideas where you either have morals and back down or say fuck it and proceed and get millions in return, anyone in the construction industry will tell you this thing is an amazing product
Morals? Wtf are you on about
@@voetbal12 There is no space for morals in capitalism lol
@@voetbal12 I guess that word is foreign to Americans.
@@shakemiz that’s exactly what I just said, you either have some or you don’t, and capitalism has nothing to do with it.
@@thejigisup funny you say America’s when the guy who stole and is selling the idea is Australian.
What does this have to do with America?
Naomi: compliments product
Also naomi: So for no reason I'm out
Classic Jenny
Jenny must of rung her up.
she made a ton of her money through her website and online marketing; she isn't the right investor to help them get the return in profits either of them is looking for.
she has no money
Naomi you want to be in shark tAnk? For that reason i sm out
Just googled them... seems as if they have been very, very successful.
69 likes niceeeeee
I could see it coming. Kinda sad how some of these sharks can’t 🤣. They miss out one the best opportunities.
@El-ahrairah Not patented in australia nor the us 🤷♂️
Made it to the US 👍🏼
@@mazriuelas6654 If the previous owner of the abandoned factory makes a claim with the patent office of US or Australia, the patents will be challenged and overthrown because he can prove that the patented product is not novel, It's a very big risk for an investor.
As with any big risk, the reward It's also large if things go well
that guy in the middle always gets up and shakes hands even when he isn't involved in any deal.
Its about respect
@@NotoriousMohamed no I mean... he's the FIRST guy to shake everyone's hand... if you're not involved in the deal why do you have to get up and shake the hands first?
@@jonbonbon8644 you’re too picky
Networking is its own kind of investment
@@viridionwaves That's exactly it. Andrew has a lot of dealings with the US and knows that any idea can get popular. Just because he doesn't invest in something right away doesn't mean he won't invest in them later on down the road, especially when they try to move state side.
One of the best products I've seen on here by far. I bet he did extremely well for himself.
This the first time I saw her making an offer. But I have always seen her as a smart investor. Which she proved here.
Me: *ordering flight ticket to Vietnam*
I was right about this lady shark. She's one of the smartest in terms of right investment and how to put up numbers on unlikely new products that needs further proof it could earn. Steve miss this big opportunity big time. The only thing you need to discern is if the entrepreneur allows you to keep an ownership. That means engaging on the business personally and growing the product together. Or grab her eye popping 30-40% share if your pitch is half-baked.
Lady in the red: You see, I always wear same red dress because I am broke. And for that reason, I am out!
The Lady in Red started her I'm out when she was born that's what you told her mother I'm out
@@geraldjosserand4321 hahahahaa
They all wear the same clothes to make it easier for the editor to keep continuity.
I’m a landscaper and I want this product! This is genius blocks with no groves suck. This would be so fast after the first row. This is gonna be worth a stupid amount
“I look forward to being a customer” uh what? You would never buy something like this Naomi lmao.
God damn it. First they say, "tripling the company size every year is fanciful and unlikely"
And then after he leaves, "He's gonna get to 5-6 million EZ mode"
Janine ripped him off there he was asking 350,000 for 10 % and she ended up getting 17% for only 150,000 and just loaning him 200,000 to be payed back, smart woman
Indeed she is smart. The company is not worth what he was asking. The patent may be contested in the future. The product may not be successful. Definitely not a ripoff. Stupid to even suggest.
Duhh look how happy she was when he agreed lmao she screamed
His innitial evaluation was based on the very optimistic predictions of 300% yearly growth. He was grossly highballing his company's value and he knew it, otherwise he would not have accepted her offer.
She seen the fact that he wasn't after the cash, just after someone to open some doors. He had a limit, she cleared it, that's all he cared about
Paul Carter 💯 she is smart. For the risks that could happen. But she’s so smart
He did not find these blocks in an abandon factory, he saw them in Vietnam, he is lying big time.The only thing he did was to change the texture of the block face give it a name and applied for a patent.
The company that sold these blocs in Vietnam is called ROXstone,website roxstone.com, they just did not patent it at the time but the company is still operating at this time 2020.
i agree, Even in China or India this product is there atleast from 2006 (that's when we used in our cattle shed construction) and it is just generic product. We get it in 4 different color.
*How they say when They're out*
Steve: I don't like it at all, I'm out.(straight what he thinks)
Naomi: I love the product, I'll be customer. But I'm out.
Jeanine: Your numbers are not right it's a competitive market. I'm not investing.
Andrew: I can't add value to your brand. This is too early for me. love the product but I'm out.
Glen- always explains clearly, the real reasons.
I've seen these everywhere as a labourer very good product
The sharks didnt give away the fact they thought it was very profitable. Very sneaky, smart investment.
When they say they're out, it isn't necessarily final. Things change.
Why am I not Surprised that Janine was interested in this dodgy deal, but, as the same time, I like his Complete Honesty.
It paid off...
@@bradygiltz5160 for real, it looked to me like one of the least dodgy examples on the show. Construction is huge; easy, simply ways to save tons of money and time is game changing. She bought in very little, and in short over made tens of millions
crazy how at the end he said "hes gonna get to 5 or 6 million real quick" and guess what.... Pentablock is now worth 5 million. Dude knows his shit.
230 million
@@9Fingers88 R u stupid or just pretending?
I don’t understand whats the big issue with it. Was some old guy in vietnam just about to get a patent and make millions?? No. People take ideas and add to them all the time.... good on him for seeing the benefits of this
@Ian G abandoned warehouse.. who was using it exactly?
@Ian G exactly
and how do you know he was "old" and wasn't someone younger talking about the potential idea?
Some Vietnam family will be looking at this 1 day and live forever with pain and regret in their hearts.
This.
@@rachelpayne9017 im sorry :'(
Let that Vietnamese family worry about that.
What are you talking about? They used this concept wide spread. He updated it and patented it. People in Vietnam are still using those. It's not like he stole it. He found the idea.
Andrew "i'd still like to hear from you i'm in the States....." lol
Oh my god bro we know you have connections in the states
Literally acts like he is friends with "America" like it's an entity
@@harrisonyardney4148 to bloke is worth $300+ million think hes still the real winner here
God Bless you Joel
I will never forget your
kindness. R I P
Joyce Scanlan
A guy from Vietnam made this, this guy patented it!!! What a perfect example that poor countries are smarter at finding cheaper and better solutions. It's just that they don't know the financials and business concepts to take it forward.
He didn't patent it. He patented the idea of cladding it.
He said that and I'm sure if the dude came forward they could work it out
@@wintermute8315 that can't be right. There are already blocks with stone Facings on them in the market.
bro we have this in India also since many years. We call it cement blocks'/bricks and many people use it. Plus, our blocks need no such thing as pouring cement after 3 feet etc.
This is a generic product and need to patent here. Patent will be required if you are doing any other value addition.
One man's junk is another mans treasure
Problem I heard is you can only stack a wall tree block high before you fill them with concrete.Reason is if you stack higher and fill them you will get a blow out and concrete will push it apart.So unless your building a very large building you will not use one cement truck load to fill it.There are products that been out for years now the is same set-up but use foam forms and they use reusable walls for support to stop a blowout so you can finish all outer walls in one day and have insulation on both sides of walls.This process has no insulation added.
Smart guy and smart taking the offer although I reckon he could have negotiated a bit more.
I love the "Id love to hear from you. Im in the states" at the end after rejecting him.
See he found something and probably did a bit of research and boom.
People actually copy n steal ideas all.the time. He was honest and he took a basic thing and added something.changed the game right there
Original offer. 350k for 10% = 3.50M valuation
Glen's offer. 350k for 33% = 1.06M valuation
Counter limit offer. 350k for 20% = 1.75M valuation
Janine's offer. 150k for 17% + 200k loan = 0.88M valuation with 200k of debt
I don't think he should have accepted that deal. Glen had the better offer, but I think he could have listened to more offers before making a decision
Wow
giving away 16% isnt a great idea for such high potential business. It is good decision to take 200k as a debt.
that kiss was awkward, dude got no game
Kelvin Mathew lmao what did you want him to kiss her on the lips?
Soon he is very rich.got more game then you
@@buzinaocara Just grab em by the pussy like the POTUS
This looks good but he should have included a foam board insulation layer like with ICF. Then it is the best of three worlds. You have the concrete forms + Insulation + cladding all in one.
The problem I see is that when you pour a concrete form, you need to put a waterproof membrane on the outside of it before you put the cladding on. Right now, he has all those joints exposed to the elements. The concrete needs to be covered with a tyvek type wrap.
Not into construction so sorry if I'm wrong, but why would u need insulation for a fence wall ?
Tyrone probably as a option
@@MrLottex Fence wall? This should be for houses.
A lot of people are decorating their gardens with a feature wall that is non load bearing. Do I still need for a concrete pour as it looks like the interlocking brickwork holds it together?
No-he said -after three feet it needs to be filled with concrete !
this system is amazing. could add your rebar for extra strength as went. and this would save tons of labor. more machine work too to help move product faster. psh. this would take a building that took 6 months to build into 3 months. and thats cause its gonna be 3 weeks of concrete dry time lol.
When he said he was the "founder" he wasn't joking. He found it. lol
I see alot of this build in Vietnam when my other family are rebuilding the house.
Well he did find it there so it's probably from a older time...but he's not in vietnam so he doesn't have to worry bout it
The poor guy died not too long ago. He left behind a young girl, how awful. No description of what happened, just that he was a lovely guy who did a lotnof charity work. RIP
I think almost every deal you make with a shark is a good deal even if its a ripoff you still are going to be way more succesfull with a shark
Slow builders doing 1 or 2 Square meters a day
That's a joke lol. They could easily do 10 square meters a day.
Seriously. 1 square meter a day?? I’ve never laid a brick in my life and I could go faster than that.
@@davidusa47 doing it properly, and maybe doing it in the fashion he showd..
Idk hes likely twisting it some way so it sounds great
Did you just admitted that you steal and patented this "idea"?
-yup, yeah.... BUT I glue some stickers on it so it's sorta original ain't it?
What happens when a vietnamese person sees this and says "i invented this and here is a photo of me using it", from 2 years before his trip to vietnam?
@@grahamdwells nothing
Is it me or does the music sound like Goosebumps?
Steve Baxter where you from mate that gets me every time
The answer always the same lol
These are like icf foundation blocks they use here in Canada except ours are meant to insulate/build foundation
Vietnam has entrepreneurs of its own, and that’s concerning enough that people’s hard work are stolen.
Meh he prob don't have patent on the interlock part if someone owns that already. He found a bare brick. He added texture and style to it so it becomes a new product.
@Roger Alvarado hey at least he isn't so ignorant to think that a non white could actually invent a smart, useful product in the first place.
He didn't patent the idea he found. He patented an extension of it. Someone out there could still patent the basic idea if they invented it.
@@rxtuninginc8444 your very racist aren't you
I know that in Canada we have pre-built, interlocking, standard size, concrete blocks with internal re-bar, and they come with a few different options of surface, but they are cast into the block. (so they are significantly cheaper) I doubt that his patent will stand up if challenged.
What are those blocks called?
Uh he ain't in Canada...
i always love naomi's voice
Scape Freely reminds me of Julia Gillard’s voice.
Something already beat this out and been around,pre cast
Can have substantial sized full blocks raised from crane and set by just a small crew of iron workers
this is probably one of the deals that falls through after anyways after the sharks do more research. Happens all the time to "deals" done in the tank.
@@truecrimejungle really? They do that? Where did you read that to then?
Sharks saw a big flashing light above him "LAWSUIT." Also, not an ethical partner to get involved with.
It would’ve been unethical for him to claim the idea as his own. Which he did not
His patent is in Australia and he's getting it for the US. So he is ok as far as I know...
I don't see any problem with how he came to being where he is with it, doesn't matter that he picked up the original idea elsewhere.
He saw something and run with it. Fantastic.
Agree, people steal ideas all the time. The first one to patent it wins, legally it rarely matters who thought of it first.
This is how our homes are built in VIETNAM today, it’s very popular, this guy struck gold.
Was it patented in Vietnam? Patented by Vietnamese in any country outside of Vietnam?
“I know everything about concrete” proceeds to ask dumb ass question about concrete.
I mean if it was just sitting there then technically it’s better somebody puts it to use than nobody, right? Appreciate the man’s honesty, that’s very important and makes him not a thief in my opinion but rather like a foster parent for the abandoned product
@Ian G no. He added to the bare block he found improving the asthetic... he likely doesn't have a patent for the tongue and groove part of the block.
What was the patent for I wonder? Stuff like that has been around for a long time.
As a firefighter this gives me chills
Why? :)
@@twodogsandaperson fire travels through void spaces like these, and this type of construction would be more prone to collapse
@@andrewlovingood9033 but how are they void if the whole structure gets filled up with concrete?
@@andrewlovingood9033 its not void after filled with concrete. He said over 3 foot high it gets poured or whenever it's a structural part.
@@andrewlovingood9033 Your supposed to fill in with cement for building walls and foundation. For property or garden walls you fill in above 3 rows.
That’s an amazing product
how he went in for the kiss was crazy at the end
Thats how we greet people
He goes to this abandoned factory -- for business -- (not really abandoned as must have a landlord) and then after 1 year goes back -- for business again -- to this same abandoned factory (with pretty much nothing in there or rubbish) and he finds this block in his hands and decide to do "something".... ok, now, 1) a factory is never abandoned. He has a landlord so other than stealing the idea he trespassed other people property/ies..... 2) to me this sounds more like someone told him about the idea/concept and he quickly thought to steal it by patenting it before he/she did. Simple as that. I would be ashamed to patent and claim something that didn't come from myself.
Is it me or are the two sharks working together. One throws our %30 so anything lower sounds good!!
Yeah they always work together to get the best deal.
Hats off to all the usual comments about the business's "current value". Reminder: Unless a company is publically listed (on a stock exchange) then it has no publically-verifiable valuation methodology; its value is a matter of debate/negotiation, just like on the Tank.
Good on him, his business is doing well from what i understand. Inventions are just your or someone else thoughts brought to light.
You're amazing, I love your product, I like what you've achieved, and for that I'm out!
But how does he know that it isn’t being made in another factory?
@The Preacher It could be made and not patented.
GOAT ALLU well that's too bad they didn't get a patent!
It doesn't matter if it was abandoned or not. The patent bureau checks if the invention already exists. If it doesn't the patent gets granted.
If at a later point someone challenges the patent and can prove that this invention was already in use prior to the patent application the patent is removed.
@ Mike roxstone.com
If his patent holds up to a challenge, the outside factory will be barred from exporting to Australia.
I'm a stone mason contractor in America Laminant doesnt account for weather properly it undermines the integrity of the engineering in the whole structure
won't continue to make money if your product lasts forever and these would never be used for large scale building
Wait until he heard about 3d printed houses
That's still in its infancy...it's rising fast but don't expect in then next 5 yrs to see 3d printed neighborhoods
Not sure about his decision but Janine’s evaluation was lower than Glen’s.
Patenting---- US stole so many ideas and patented, and now this Aussie land...
@Dozer Mramur It’s a colony from England not USA!
@Dozer Mramur No, it is not a fact. Calm down
@Dozer Mramur legitimately not a fact. im certain its an english colony. i also think it may have been a prison colony but im not sure.
To execute an idea is the most difficult.
HardestTooBeat yep. Australia used to be an English prison colony. Idk how that guy think that's Australia belongs to the us when the us was owned by England too.
I see such a large difference between some of the American Sharks and The Australian Counter Parts. The Aussies are so much more diplomatic and polite way of saying "I'm Out" somehow matches the culture of the respective countries.
The main problem I see is leveling, mortar is more than just a binder.
Leveling is the problem with all mortarless blocks,HaenerBlock e.g. has gone out of business because of the leveling issue.Next thing is if those blocks can withstand the pressure from wet concerte.
I have to agree the "finding" of something is a bit suspicious. However, SInce the factory was abandoned, I am also certain that they didn't know what they had, and he did. Edit: I looked this thing up. It seems to be doing EXTREMELY well, what a smart move!
He didnt have to mention where the idea came from...he expanded on it n got the patents...not like the sharks arent manipulative either...they wouldnt have the $$$ if they didnt step on some backs along the way...timid salespeople have skinny children😍😎😅😄😃💞💖☺
came for the NOICE jokes!
Good product time wise, price per m2 would be interested compared to a stone mason. Would like to see how the products looks in a few years time when shrinking and expansion occurs.
theyve made it to the USA and apparently have multiple shops there
The company is called Roxstone, from Vietnam. They never abandoned it And yes they do have the same decorative cladding
Everyone, yeah idk about this. Dude walks away. Yeah their gonna clear 6 million in a year lol.
This kind of blocks are very difficult to build up..And obviously very costly one..As the steel bars exist in the wall ,there will be a big difficulty to put the the isolators inside.IMO.it's not a praktical construction component..
I seriously want to know what the sharks scribble down in their book..
considering the actual meeting lasts much longer than the tv cut, probably alot.
They be drawing and shit they have ADD
BULLSHIT. TALKS TO MUCH. BALD! DUMBASS. is probably whats written down
milk
bread
pick up drycleaning
call mum
pay parking fine
Clean the gutters
research things to do for Bali holiday
Nothing wrong with the dude's product origin. People have been taking other inventions and improving them since forever. That's how new technology is made. If he had worded it differently, it would've come off lest "sketchy" sounding.
Its no different than someone inventing the flatscreen television when CRT's existed. Does the same exact thing, just one is flashier.
He found an unbooked masonry technology, added a new shine to it, and found a business. Good on him.
I think him patenting it is genius
The application possibilities are tremendous!
anyone: -breathes-
glasses goons: -quickly remove glasses-
well prepared pitch. he sadly passed away in December 2020
Another Aussie "idea" that already exists in the world. Check the Swiss. They use this same type of design with wooden frames. The patent would never pass a patent test.
In Europe it would not. Patent laws are very different though elsewhere.
10:04 kisses investor, the other investor feels rejected 😂