@@bbf8903 Well, Yes. His product is amazing, no doubt there. However he is supposedly on this show looking for investors/partners to his BUSINESS. And I believe all the sharks share the positive sentiment towards this product but at the end of the day; business is business. And when negotiating with money, it’s very tricky to “win” or gain leverage just because you’re potentially saving lives. Money talks and investors negotiate to their convenience. Which is justified by their Know How and Network. And 120 K for 5% of a very young and still low profit business is not worth it; in my opinion. So, yes. He should have negotiated.
First thing that came to mind was "Why doesn't he just make a version of the device that allows anybody to carry it instead of just limiting it to the surfboards?"
Good thinking. The phone releases a small amount of electromagnetic waves and it is considered to be dangerous. So might be reason why he didn't put in the pocket. There is a reason also why it is under the surfboard and not on the top. Waves transmit faster in water than air. Bigger battery in air, bigger electromagnetic wave. To research/ if the magnetic wave is dangerous to keep in the pocket might require a bit of money and a few universities involved. Already what he has is fantastic. Unless you loose you board while surfing and in that exact moment the shark shows. Extremely low probability.
I'm thinking, because he invented it with his family in mind. Perhaps the business idea was an after thought. He clearly is not a strong business mind, but, yes, a nice guy.
If there's anything I've learned about watching Shark Tank, it's this: Never give your company a ridiculous high evaluation unless you got a butt load of sales.
Not necessarily, if he's confident in his position and potential, he'll be thinking more on the lines of not selling marketshare rather than gaining capital. If the business is as expontial as he says, he'd get that 120K in just a few more months and not have to give away equity.
@@joebloggs1804 thats not how it works with investors. At that point his business isn't worth his evaluation. Why would you pay for something when you're the investor that will get it to the evaluation that he's asking.
@@nic4633 Well considering this bloke made 1.8 million last year, his evaluation may have been on the money, always good to come here to youtube to hear from the investing experts like yourself, nicolas!
@@joebloggs1804 it doesnt matter what the forecast is because in business there is absolutely no guarantee. Investors invest on what has been proven. That's pretty simple to understand lol
Steve previously: "Defend your valuation" "You can ask any amount to a HNWI" Also Steve: "Your Valuation Is Ludicrous!" He is right tho, business is worth 120-200k
I own one of these boards. You can actually split the top of the board and I wedged my gfs hands in there. Long story short, you can pull his device out. I attach it to my gf wet suit. It works. I own 6 small sharks 🦈. I tested this, albeit in a medium fish tank, and the sharks repelled. That's when I just found a way to rip the device out. The board is meh. I agree with the girl in black, he needed to just create the device and make it more mobile. I found a way, but I had to go through all the trouble. I am from the U.S A as well. So I don't know the sharks tank names. However, again the girl in black hit the nail on the head. It's not about the surf board, it's about the device. Anyway, I went to a tailor and they added a pocket to my gf wet suit. I then added another and attached the device. My gf feels safer now. One day I plan to put a ring 💍 in another added pocket and see if she wants to get married. I have to finish my Masters degree first though...and we have to last too lol. Anyway, thought I'd just give my thoughts on the product.
What I want to know: Does the electrodes hurt the sharks? Can the electrodes hurt the user? Is there a patent on this surf safe device? Is the electrode waterproof? If not, someone can get hurt. When is version 2 coming out and what is version 2? Don’t you want a wireless remote?
He doesnt neccesarily to decide on his own .There are companies which do your companies evaluation taking all these aspects ...He just wants free advertisement
Does anybody know what happened to the company? Couldn’t find anything other than the installation guide on google. The product sounded promising in my opinion. Sure his valuation was crazy but if this product does what it promises I think it could be a great tool for any surfer or maybe even scuba divers if it would be removable and waterproof to this extent :) I would love to hear what others think of this
@@guzzlar5836 because the evaluation is ridiculous. How does he expect an investor to invest that amount at that evaluation without a proven track record of sales to back that up??
I mean if it works which I'm sure it does, the only reason why he offered the 45% was he knows he is going to need way more than that for the production and the product and also also the advertising of the product and would end up owning the whole business at the end or most of it anyways.
@@mirkocolic8798 That doesn't answer the question. Does the shark take that % of the raw sale money, or that % of what's left after paying employees, the cost of the product sold, etc.
@@sirjeffels4020It reflects percentage of profit, not percentage of revenue. This is done by the declaration of dividends (a paying-out of profit to all shareholders in proportion to their percentage ownership of the company). Legally dividends can only be paid using “post-tax net profit”. But all of that detail is true for all shareholders, regardless whether an original shareholder (like the entrepreneur) or someone who acquired their shares later (like the Shark).
The device is amazing, these people seem to only want to get in on ready made companies that don’t really need them, knowing this can be developed into a device for every swimmer, every scuba diver, they’d make a fortune, every single surfers has two main fears, rip tide and shark attacks….. it’s a no brainier, his valuation is irrelevant since they always demand a higher percentage regardless so what does it matter what the valuation.
Janine: "I like this because I surf, but, I also scuba dive and, since I can't use it while diving...I'm out." Geeze Janine. You can't use it while skydiving either...or during yoga class. He said there was a version 2.0 that you could use while diving.
Entrepreneur = a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so. Something missing in this show.
@@kurt477 there is a reason shark diving is illegal in many parts of the world, it has been decided by everyone with sense that training apex predators to associate people with food is a bad thing. This is aside from the fact that this kind thing does not work on white sharks, since they are ambush predator attacking at speeds of around 40kph meaning they would clear the pathetic 3 meter field in less than a third of a second, you will be bitten in half before they realize it's there. And that isn't how your spell buffoon, imbecile.
Worldwide there are about 1 million surfers... THE MARKET IS TINY!!! If that guy can adapt it for scuba diving then he might have something... Otherwise he's toast.
I think they just come in and want to get talked down to something more reasonable. I would venture a guess this guy came into the shark tank thinking he'd be happy with 125K for, say, 33%. But he can't come outright and say that otherwise he may get locked in losing more equity than he desires to.
that is to say, you can be talked down from a lofty place, but you don't want to paint yourself in a corner by coming in with a "reasonable" valuation. Some people are just really...misguided or misinformed with their valuations and will never be reasonable, but some guys like this guy seem like they would be open to something in between their 125k for 5% and the 125k for 45% offer
You're repelling a shark at 3m. You really want that on your body? The reason we don't have shark deterrents using radiation embedded into wet suits is because of the potential harm the radiation could cause to our own systems.
When they won’t even budge a tiny bit it’s like wow you’re gna ask all that money and u can’t move a single percent?! Product seemed great to but yea the entrepreneur Behind it, I’m not to sure about
That guy didn't want a deal. He wanted advertisement. Non business people could understand that his evaluation was "ludacris". This guy is such a waste of time.
The product worked really well. Drove away all the sharks from a deal!
lol
Haha true
Lol
Nice👍
I was thinking that as he walked in! The ones that are cock sure that the sharks will "bite" 100% on the deal usually walk away with an empty hook!
Very bold to go into the shark tank with a shark deterrent and still expect a deal.
The lack of interest in negotiating screams that he just wanted free advertising on the show.
Yeah. I get that vibe from a few of them.
He invented something that saves peoples live. Do the sharks need to negotiate?
or maybe he really has faith in his product
He said its taking off
@@bbf8903 Well, Yes. His product is amazing, no doubt there. However he is supposedly on this show looking for investors/partners to his BUSINESS. And I believe all the sharks share the positive sentiment towards this product but at the end of the day; business is business. And when negotiating with money, it’s very tricky to “win” or gain leverage just because you’re potentially saving lives.
Money talks and investors negotiate to their convenience. Which is justified by their Know How and Network. And 120 K for 5% of a very young and still low profit business is not worth it; in my opinion.
So, yes. He should have negotiated.
@@bbf8903 lol ur dumb
First thing that came to mind was "Why doesn't he just make a version of the device that allows anybody to carry it instead of just limiting it to the surfboards?"
he should've aid YES to Janene; we'll use the 120K to develop it for diving too ,,, DUH! ...copycats will destroy his greed
Yeah if he had an option to put in a wet suit that would be better
Good thinking. The phone releases a small amount of electromagnetic waves and it is considered to be dangerous. So might be reason why he didn't put in the pocket. There is a reason also why it is under the surfboard and not on the top. Waves transmit faster in water than air. Bigger battery in air, bigger electromagnetic wave. To research/ if the magnetic wave is dangerous to keep in the pocket might require a bit of money and a few universities involved. Already what he has is fantastic. Unless you loose you board while surfing and in that exact moment the shark shows. Extremely low probability.
I'm thinking, because he invented it with his family in mind. Perhaps the business idea was an after thought. He clearly is not a strong business mind, but, yes, a nice guy.
Put in on the person not the board. Or both.
If there's anything I've learned about watching Shark Tank, it's this:
Never give your company a ridiculous high evaluation unless you got a butt load of sales.
He basically came on the show just for the exposure so can't blame the hustle
I feel like people think it will impress the sharks but it just makes them look silly.
Went for exposure
He didn't want a deal. He wanted exposure! If he really wanted a deal he would have countered.
That's the case for almost all candidates though.
Not necessarily, if he's confident in his position and potential, he'll be thinking more on the lines of not selling marketshare rather than gaining capital. If the business is as expontial as he says, he'd get that 120K in just a few more months and not have to give away equity.
@@joebloggs1804 thats not how it works with investors. At that point his business isn't worth his evaluation. Why would you pay for something when you're the investor that will get it to the evaluation that he's asking.
@@nic4633
Well considering this bloke made 1.8 million last year, his evaluation may have been on the money, always good to come here to youtube to hear from the investing experts like yourself, nicolas!
@@joebloggs1804 it doesnt matter what the forecast is because in business there is absolutely no guarantee. Investors invest on what has been proven. That's pretty simple to understand lol
The red dress lady doesn’t even write anything because she already knows she's out
If the product was pink she would be in.
The editor really gets carried away with the sound effects
Well they have to make it seem like a 100+ people are about to go running for the golden egg somehow
Exactly right you are random
Yeah it has to be dramatic as possible, remember it's on TV before RUclips
Bro u haven't seen indian serial
They use the real amount of sound
yes but it is quite effective
Haha he got shocked at what Janine said. He was like guys "Did she take the medication" 😂
Isn't there like 32m surfers? There's 1mil at my local break
The look on his face.. He has a hard time dealing with rejection.
He said just under a million surfers in the world.
Theres actually 17 to 35 million surfers. Should know his business. Brutal mistake.
No all need shark protection
Wonder how they define "surfer" for that number. People who own a board? Who surf regularly? How often do you have to go to count?
@@ChronicNewb maybe they meant competitive or professional surfers?
Steve previously: "Defend your valuation" "You can ask any amount to a HNWI"
Also Steve: "Your Valuation Is Ludicrous!"
He is right tho, business is worth 120-200k
I own one of these boards. You can actually split the top of the board and I wedged my gfs hands in there. Long story short, you can pull his device out. I attach it to my gf wet suit.
It works. I own 6 small sharks 🦈. I tested this, albeit in a medium fish tank, and the sharks repelled. That's when I just found a way to rip the device out.
The board is meh. I agree with the girl in black, he needed to just create the device and make it more mobile. I found a way, but I had to go through all the trouble. I am from the U.S A as well. So I don't know the sharks tank names. However, again the girl in black hit the nail on the head. It's not about the surf board, it's about the device.
Anyway, I went to a tailor and they added a pocket to my gf wet suit. I then added another and attached the device. My gf feels safer now. One day I plan to put a ring 💍 in another added pocket and see if she wants to get married. I have to finish my Masters degree first though...and we have to last too lol. Anyway, thought I'd just give my thoughts on the product.
What I want to know: Does the electrodes hurt the sharks? Can the electrodes hurt the user? Is there a patent on this surf safe device? Is the electrode waterproof? If not, someone can get hurt. When is version 2 coming out and what is version 2? Don’t you want a wireless remote?
He should of offered a counter offer because 5% for 125k is crazy.
Why do people still go on Shark Tank and talk about basing the valuation on FUTURE sales, i mean jesus do they not watch other episodes?
I think he has already put so much effort on this product and it makes him feel deserved of that high valuation
He doesnt neccesarily to decide on his own .There are companies which do your companies evaluation taking all these aspects ...He just wants free advertisement
Does anybody know what happened to the company? Couldn’t find anything other than the installation guide on google. The product sounded promising in my opinion. Sure his valuation was crazy but if this product does what it promises I think it could be a great tool for any surfer or maybe even scuba divers if it would be removable and waterproof to this extent :) I would love to hear what others think of this
Steve: I want 45% of your business
The guy: Are you drunk? 😪
Both sides were drunk. His offer of only 5%. And no room to move. Shows his lack of business skills.
@@frogmanpipes9561 “I built this business. Why will I give up more than 5%? I would rather die alone rather than survive together.”
👀
@@guzzlar5836 that shows your level of delusion. Is high.
@@guzzlar5836 because the evaluation is ridiculous. How does he expect an investor to invest that amount at that evaluation without a proven track record of sales to back that up??
@@leeshanpillay1253 Gotta stop him from smoking weeds😵
You don't come to the Shark Tank to ask for an investment in an Anti Shark device 😅
I mean if it works which I'm sure it does, the only reason why he offered the 45% was he knows he is going to need way more than that for the production and the product and also also the advertising of the product and would end up owning the whole business at the end or most of it anyways.
Wow, not even a counter offer
The lady in red should just put her money into some mutual fund schemes at this point.
Mate you are a real shark repellent businessmen good on ya'
It does sound like a really good product but it’s just too expensive especially if you add on to the price of a surfboard
Sharks unable to take bite of his business because of magnetic field produced by surf board😂😂
This was just a tv ad for him. "As seen on TV"
He went to shark tank to repel sharks, well done - lives up to the product!
The product works...the sharks are out of his way
does the % of the company mean they take that % of the profits or income?
yes, you get the % earned equaling your equity
@@mirkocolic8798 That doesn't answer the question. Does the shark take that % of the raw sale money, or that % of what's left after paying employees, the cost of the product sold, etc.
@@sirjeffels4020It reflects percentage of profit, not percentage of revenue. This is done by the declaration of dividends (a paying-out of profit to all shareholders in proportion to their percentage ownership of the company). Legally dividends can only be paid using “post-tax net profit”. But all of that detail is true for all shareholders, regardless whether an original shareholder (like the entrepreneur) or someone who acquired their shares later (like the Shark).
The device is amazing, these people seem to only want to get in on ready made companies that don’t really need them, knowing this can be developed into a device for every swimmer, every scuba diver, they’d make a fortune, every single surfers has two main fears, rip tide and shark attacks….. it’s a no brainier, his valuation is irrelevant since they always demand a higher percentage regardless so what does it matter what the valuation.
Product is actually one of greatest on the show
They should be attached to the blades, with a click off system
Janine: "I like this because I surf, but, I also scuba dive and, since I can't use it while diving...I'm out."
Geeze Janine. You can't use it while skydiving either...or during yoga class. He said there was a version 2.0 that you could use while diving.
Surf safe pro tip:
Either stay out of the water or get a bigger boat
When Red starts telling you how fantastic you and the product are, you know she’s out
You're more likely to win lottery than get bit by the shark.
Not in aussie
How is the valuation calculated? Please assist
There are companies which do your company's evaluation for you ...They take in fac9trs like market ,product value profit,growth rate etc
100 divided by [offered percentage], multiplied by [requested amount]. In this video: 100 divided by 5 = 20, multiplied by AUD 120k = AUD 2.4m.
Wait do they have live sharks in those tanks?
No, I believe they are just a video on a large screen.
Entrepreneur = a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so. Something missing in this show.
A wearable version does exist. It’s called Shark Bandz.
This is apparently new... I thought this was very old...
There's so much on the market that allows this.
My surf board leaves a trail of fish blood in the water to attract sharks, so I can fight them with my bear hands.
Wow, it must be very useful to have hands of a bear when fighting sharks
@@bash547 🧸🦈💯
@@bash547 lols, very good.
@@bash547 Maybe he's a polar bear
Just use sharkbandz if these things work, u need 1 for however many boards u have
Strange mindset in not negotiating... Clearly he didn't want a deal and the free advertising on being on the show.
I'm super glad they conditioned sharks to associate surf boards with food..
That is how you run an experiment. You bafoon
@@kurt477 there is a reason shark diving is illegal in many parts of the world, it has been decided by everyone with sense that training apex predators to associate people with food is a bad thing.
This is aside from the fact that this kind thing does not work on white sharks, since they are ambush predator attacking at speeds of around 40kph meaning they would clear the pathetic 3 meter field in less than a third of a second, you will be bitten in half before they realize it's there.
And that isn't how your spell buffoon, imbecile.
Ikr but they might just keep them in captivitie so it doesn’t matter harkirat chahal
@@GinEric84 is that speed real? Fucking hell that's fast
@@somerandomguywastaken they hit SUPER FAST. If you do a search you can see them in south africa flying out of the water during their ambushes.
He only went there to promote his product not to get a deal
Quick update this Guy Just Made 1.8 million last financial year
Worldwide there are about 1 million surfers... THE MARKET IS TINY!!!
If that guy can adapt it for scuba diving then he might have something... Otherwise he's toast.
Shark repellent surf board and shark repellent offer, very nice.
Honestly what is going through the heads of these entrepreneurs and their ridiculous valuations?
I think they just come in and want to get talked down to something more reasonable. I would venture a guess this guy came into the shark tank thinking he'd be happy with 125K for, say, 33%. But he can't come outright and say that otherwise he may get locked in losing more equity than he desires to.
that is to say, you can be talked down from a lofty place, but you don't want to paint yourself in a corner by coming in with a "reasonable" valuation. Some people are just really...misguided or misinformed with their valuations and will never be reasonable, but some guys like this guy seem like they would be open to something in between their 125k for 5% and the 125k for 45% offer
Some of them use it as a platform for advertisement, and it works. If you followed up on this guy, for example, he netted 1.8 mil last year
Go ahead and turn around before you get a spoiler alert...
Not from me tho .. wtf? 😂💀
Surely best thing would be to license this technology out to surfboard and wetsuit manufactures
If he got the price way down for swimmers etc.. the market would be huge He would make alot of money!
His valuation was as good a shark repellent as his product.
Only 1 million regular surfers worldwide? That’s not many really
Awesome. His product scares all the sharks
This should be made far cheaper and easier to fix on the board and even on diver's suit.
You're repelling a shark at 3m.
You really want that on your body? The reason we don't have shark deterrents using radiation embedded into wet suits is because of the potential harm the radiation could cause to our own systems.
When they won’t even budge a tiny bit it’s like wow you’re gna ask all that money and u can’t move a single percent?! Product seemed great to but yea the entrepreneur Behind it, I’m not to sure about
Big boss here
This guy never wanted an offer. He just wanted some free publicity.
He came on the show for the free advertising
That guy didn't want a deal. He wanted advertisement. Non business people could understand that his evaluation was "ludacris". This guy is such a waste of time.
😂🤣 5% or nothing was dumb abd steve would have taken 30 or 35 😂🤣
Holy fuck a new video, how long it been?
Not including compilations
Created something that punches Sharks on the face And Pitching on Shark tank . 👏
I prefer glen
Janine said that it's too expensive ... lol ... probably never gotten attacked by a shark
Naomi: Im here to meet the diversity quota. The show must have at least two women so I’m out
I cannot believe that not 1 of the sharks made a joke about this shark repelling item...
Real question: does it deter sting rays?
he should have countered with 40% and when investment is repaid he goes down to 30%
I want one to wear on myself in the sea
Oy this reject dismissed a perfectly good deal. His valuation of 2,.5 million is bonkers.
I’ve thought of a way to stop shark attacks, don’t enter their habitat lol you’re asking for it.
I personally think it’s a great product, but it’s got the wrong salesman
Why not just license the product????? Seemed like an ideal thing to license.
Really? Nobody called him out for the scam? He clearly only wanted publicity.
At least he got an offa lol
You can’t surf indoors, and so for that reason Naomi’s out
5% and refused to negotiate!!! he did not come on the show for a deal!!!!! $2.4M valuation with hardly any sales!!!
You reckon he offers money back lifetime guarantee.
Naomi is always in red.....she's gorgeous though
Old.
very bad negotiation skill, he can go for 10% and steve would think hard on it...well somebody going to invent the same device anyway
He’s pretty stupid not negotiating, 5% wouldn’t tempt anyone, better to have a smaller peice of something huge than a big piece of something small
Looks like Jennys out as usual......
Is this just a rip off of the original "shark sheild"
If I was a shark his face would repel me !
It was a fantastic product. They missed a jem.
These sharks are blood suckers man
This product will make bank if some how the wrong safety political movement makes this mandatory due to safety or some dumb shit
He's a suffer getting fridge of shawks I wish these people would speak English !
He's so full of himself !
Not first
Good idea, crappy businessman.
So
Yea
Omg Australian sharks are such a cheapskate
DUH ! I didn't get a deal yes it's an offa Jenny! I can't stand these accents anymore back to U.S. Shark tank for me !
ffiiiiiirrrrst!!!