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Random fashion thoughts - Page 7200post #107986 of 1090534/15/15 at 2:16pmpost #107987 of 1090534/15/15 at 2:19pmpost #107988 of 1090534/15/15 at 2:25pmpost #107989 of 1090534/15/15 at 3:25pmQuote:Originally Posted by LA Guy
I am 99.999999% sure that I would not think that it's worth it. There is a lot of potential and unknown downside, and the upside seems highly limited. I mean, I suppose that if they were regularly backing in the $5-$10M range for 5% equity, yeah, sure, I'd give it a shot, but given (certain) grief and offered $500K for 75% of the company seems like it's not worth the risk. That is angel investment money. Not even a half decent first round of funding. I think that going to San Francisco and going hat in hand to Y-Combinator, which has a good track record of successfully mentoring companies to maturity, would seem like a much better step.
Sure, but y combinator isn't really bringing in the types of companies predominantly featured on Shark Tank.post #107990 of 1090534/15/15 at 3:31pmQuote:Originally Posted by stafa
Until this last season, the producer was given 5% equity or 2% royalty on operating profits just simply for being on the show. I imagine for some of companies, the exposure might have been worth that price, but it also screws over a lot as well. But that exposure could lead to better sales and/or different investors who may be willing to cut a check.
What? That sounds crazy, I would never give 5% if my business for that.
They are currently looking for participant for the Danish version, I sort of want to see their agreement now.post #107991 of 1090534/15/15 at 3:40pmQuote:Originally Posted by stafa
Until this last season, the producer was given 5% equity or 2% royalty on operating profits just simply for being on the show. I imagine for some of companies, the exposure might have been worth that price, but it also screws over a lot as well. But that exposure could lead to better sales and/or different investors who may be willing to cut a check.Quote:
Oh wait, what? Did I read that wrong last time. I thought that you were given 5% of the royalties FROM that show. To have to pay equity, for essentially nothing but the opportunity to be humiliated on tv, with no guarantee of any return? That's highway robbery. That's not just a beating. That's having your nuts being squeezed while you get punched in the face.
This seems to be in the same league of " ideas from which to run away from a quickly as your little feet will take you" as having to "audition" for porn.post #107992 of 1090534/15/15 at 3:55pm
You're focusing too much on the personal experience or potentially being turned down or losing face. This is tremendous publicity for the product/brand. It's a long segment where the product/service is described in details. I would assume most entrepreneurs who sign up for it believe that they will not act in a way that would negate this much publicity.post #107993 of 1090534/15/15 at 4:08pmQuote:Originally Posted by gdl203
You're focusing too much on the personal experience or potentially being turned down or losing face. This is tremendous publicity for the product/brand. It's a long segment where the product/service is described in details. I would assume most entrepreneurs who sign up for it believe that they will not act in a way that would negate this much publicity.
Well, at least for a start up, the people are often the brand. I wouldn't want a bad performance to follow the brand.
I think that you are right, that the entrepreneurs assume that they will not act in a way that would negate the publicity. However, the guys on the panel are experts are making the pitch makers sound like fools, do so regularly (I love the long pan shot of the stunned looking pitchmaker, or the extended shots of their trying to salvage their dignity) and I think that it's unreasonable to think that you are somehow going to be something special.
I dunno. If you really have a viable idea, and the seed of a good team, there is a ton of angel investment and venture capital money out there that to me, is a lot more solid than a shot on a t.v. show, which, like any t.v. show, is really in the business of being entertaining. May as well just put out a sex tape.post #107994 of 1090534/15/15 at 4:28pmpost #107995 of 1090534/15/15 at 4:31pmpost #107996 of 1090534/15/15 at 4:43pmpost #107997 of 1090534/15/15 at 6:34pmQuote:
That was a housing crash. I know tech startups that were getting both angel investment and then a few million in Series A funding during that period. It was also during that period that people like Epaulet got started, since they now had access to factories that previously would have not taken the work, and when GILT got started. It's during bad times that the rich get richer, since money has more leverage.
I know more than a few guys who made out like bandits buying up foreclosures. Of course, they were pretty savvy in real estate already. They offered, but I did not participate. They have/had a loooooot more capital than me, and I just couldn't/can't risk that kind of exposure. Hindsight is, of course, 20/20, but they could just as easily lost a bunch of money (there are still areas that have never recovered, and where people are still under a Marianas Trench of water. The difference is that these guys could afford to take the loss. It would have hurt, sure, but it wasn't like they were going to be out on the street, or really, anything but "less wealthy than before."post #107998 of 1090534/15/15 at 6:41pmpost #107999 of 1090534/15/15 at 6:49pm
But certainly, housing loans became really difficult to get for some people, and not just people in that "I make $50K but want to buy this $2M house" category. On the other hand, houses were to be had to many decent areas for relatively cheap, and for increasingly better interest rates, as the fed attempted to unsink the ship. A lot of people kept on refinancing their houses because interest rates kept on dropping lower and lower.post #108000 of 1090534/15/15 at 9:22pmQuote:Originally Posted by gdl203
Wow. I recall Selkoe posted a video last month apologizing for delays in getting orders shipped. There were some replies to the video mentioning KLoop not paying vendors. But it's crazy to read that it's this bad. I've probably ordered a couple dozen things from them over the years; been mostly satisfied, though turnaround on orders could vary a lot.
I still visit the site regularly, and had noticed that they'd have crazy sales going on (i.e. 40 percent off site-wide) and then virtually every item would have a note that it ships directly from the vendor, and thus, promo codes don't apply.
It's too bad. Selkoe's story is inspiring, but it sounds like he just got too ambitious and forgot the core of what made his company so appealing to customers.
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