Entrepreneur Terrifies Sharks With Litigation Plans | Shark Tank AUS 

never trust a seemingly calm person with a huge grin.

Hahaha that's the wonders of the world...

Exactly.

It's very easy actually engine can do it

I'm here for this comment🤣

😂 so true

His voice got deeper lol

I was trying to figure who he reminded me of.... that’s it!!! Murr 🤣

😂

His success depends on that patent, oof all the time they're going to spend in court if he does get it.

that's great if he can sue them into the ground, but it's a massive failure if he can't. so it really does depend on litigation.

@@JewTube001 Yep, Patent litigation requires a lot of lawyer money over the long-term to realistically pursue. Else you just spend years throwing good money after bad money just to fold anyway because the other guy can afford paying lawyer retaining fees longer than you can. You may be in the right, but it doesn't matter if you can't afford to see this all the way to the end. This guy has sold 11 units to date and the company he wants to sue sells 30,000 a month. Relying on litigation to catch up to their competitor is not the smartest idea at this point.

@gurpreet daliwell No. Because it would just be a deal, not a business. And not much of a deal if you can't afford the massive lawyer fees needed to defend your patent against infringement. Why would someone buy your patent when they can just steal it without risk of being sued?

Actually a good model, you don't need to sue or reach a trail you just need to reach a royalty deal with his competitor that's pumping out 30,000 units a month, you wouldn't even need to produce anything so having this weirdo as a partner would less of a problem and I think it's fair he gets a cut it is after all his invention.

Looks like FAS to me.

Or a character from a Dr seuss book

He looks like he has a CGI upper lip to hide his mustache, like Henry Cavill in Justice League 🤣🤣🤣

Looks like he belongs in whoville

I am Hugh Mann.

For real. "I've been told I'm difficult to work with, so here's my rationalization for why everyone but me is wrong" B R U H

Same kind of person who thinks acknowledging their own shittiness and blaming others for not handling it well is an acceptable way to be. "Im just blunt, and some people cant handle that," comes to mind

i mean he was nothing but polite and answered to the best of his abilities. and he's perfectly justified to correct their incorrect claims about his business or business plans. hes just trying to explain to them that his plan is not to litigate and the dude gets pissed at him. these dudes get pissed every single clip ive ever seen of them

@@jsmith434w “he’s just explaining that he’s not planning to litigate.” That’s not even the issue. U missed the point man. The issue is that there’s a CHANCE that they’ll have to litigate. Before the sharks even sign up and before the business gives a profit. There’s already a huge problem and his attitude isn’t helping it at all. Why would they sign up for something that requires this much work?

@@jsmith434w oh, and they asked him how much is the value of the company since he wants $75k for 3% and he says “talk to my accountant “ Lol who would throw money at that???!!!

Smug faced

@@Paul-fq9pj Yep, for sure. 😄

Ms Starlight jjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjj jjj JJ h John jjjsssb

In addition to have 6 other partners and not knowing his financials

@@lore_shards ☺👍👍

😂😂😂

🤣🤣🤣👍

I thought I was the only one to detect a bit of a psychopath in him.

LMFAO

the company got picked up and is now partenered with Vodaphone and Apple. Seems this company is doing quite well

This company is swimming in money now. His pitch was dreadful but the actual COMPANY and idea was amazing

@@bawlzinyourjawz5919 A lot of these smart as hell inventor/entrepreneur are extremely socially awkward. Take a look at Musk on the JRE podcast. I think it is just these guys are socially awkward because they spent more time in education that socialization.

I’ll invest i’ll give you three dollars for your 3% equity.

Shady and greedy evaluation and sounds like he's trying to hide something.. Imo he just wanted exposure

@@birdie2010 I dont think hotel CEOs are watching shark tank looking for bussineses lol

Seriously what a joke🤦‍♂️

@@birdie2010 He striked me as a person who would expose, yes.

"Hey guys, I'm here offering you a 3% equity stake in a massively overvalued company which has only sold 11 door locks nationwide and may soon be going through a patent litigation process. Who's interested?" - Possibly the dumbest pitch ever lol

At least it wasn’t a halfway house

To be fair he's the turbo-nerd that invented the thing, not a dedicated sales person/people person. At least to my understanding. He is difficult though.

And they missed out because he partnered with Vodaphone in the UK the same year this was filmed

@@SiLoMixMaster they have enough money to live their lifestyle. They are mostly investing as they are seeking for excitement so working with that type of guy is off the table even tho they would make a profit :)

u spoiled it for me gg

On top of that, i just didn't get information but just excuses. I wouldn't invest just by those reasons.

Yaa attitude was a thing,but main reason was he couldn't provide numbers

This comment made my day 🤣👌

Most hotels in the US already have digital check-in and digital keys through their apps. Most have had this ability for well over a year now. Hilton brands have about the best integration of the big chains.

@@kem09030 Shark Tank Australia has ended in 2018. This video is be at least 2 years old.

I totally agree! For security reasons this technology won’t be a hit globally. Maybe only a few markets!

I checked into my Vegas hotel digitally

I agree, as someone who travels a lot id ra her check in and get a key then have to go thru the hassle of downloading a app and having to register and what not

That was such a passive aggressive answer to them, like what the actual fck dude!! Are you Trying to get an investment?!

yeeeepppp

Yeah for real, why would someone show up to do a business deal without even knowing the basic status and workings of their own business? Imagine how easy he'd be to embezzle from if he doesn't even pay attention to his own accounting. I wouldn't trust the judgment of someone who's so glib about being naive like that, because to me (I'm biased from a healthcare background) best practices are important above all else. I got a D in accounting almost a year ago (although admittedly I always get bad grades while learning a lot lol) and I have a crap memory, but even I cringed and said "NO DUDE" aloud when he was confused about the difference between equity and assets. BRUH IT'S ASSETS MINUS LIABILITIES, TAKE A CLASS

Facts

Something is not right in his eyes. 😨

@@defundhollywood3259 I think it might be that he's smiling with his mouth without really smiling with his eyes, which comes of as insincere.

Yeah seems he's hiding something

Yes, I got that sense too. Something's off about this guy.

Someone offered 1% for £100k+ at dragons den in the UK and they got some offers for investments

@A Tasty Cloud That reminds me of the guy that has the answering call back service that pitched on dragons den asking the same equity, he very much did NOT get offers lol

At three percent he became the appetizer. RIP.

:)

you do it before is dead, in case it dies

Before your phone dies, if you have those materials just laying around I guess

@@khl2445 then what’s the point of the product if you are using the card anyway

@@Sayieh Because you buy the ticket in the internet.. and prepare a card for your journey.

god damn funny 😆

He became partners with Vodaphone and is a millionaire now, even funnier

Bugatti Veyron: "Hey, my product is worth 2.5m, wanna invest?" "How many have you sold?" "11.... at 2m a piece...." It's not necessarily about how many you've sold, it's how much you've sold them for. Unfortunately, locks don't sell for nearly enough to have 11 be a good number lol

@@since1876 this guy's only making $10 per unit though

@@since1876 this guy's only making $10 per unit though

He looks like he is about to shape-shift any second 😳

@@akeezey984 😂

Yeah, dude's making bank now

@@zaodedong9935, haven't even heard about this one, its been a year already

Ended up working out well for him, he is now partnered with Vodaphone and Apple.

Murray should go in and pitch them the crotch watch lol

Dude!!! I thought the same thing !!!

Omg same here. Took me too long to realize he didn’t have one.

💯 percent

TOTALLY!!!! I just commented above that he looks like Henry Cavill in Justice League, when Joss Whedon had to CGI out his moustache in reshoots 🤣🤣🤣

stupidest comment lol. why don't you write a book? you're putting words into peoples mouths anyway

@@bungalowbob9629 did you...not...watch the episode? the fuck are you talking about.

@@thecaptainsnark ignore him, he doesn't get it. there are always those type of people. they always start with lmaoo dogshit idea/lmaoo *emoji* you so stupid/stupid comment lol (or xD or something else to make it sound like the other guy said something silly and funny from how stupid it is) “Intelligent individuals learn from every thing and every one; average people, from their experiences. The stupid already have all the answers.” - Socrates

Its nfc its just as secure if not more than using a standard key card.

This is literally just RFID doors. A lot of hotels already use RFID cards for their rooms. The only difference here is they have an app that lets you pull up the RFID info on your phone instead of having the hotel put it on a card. Walt Disney World resorts already do this with both your phone and magic bands. I'm not sure how he could get an enforceable patent on what is essentially just an RFID reader connected to a lock.

This would take so many jobs world wide eventually

traditional locks can be picked too, i've done it myself many times.

@Sarra Campbell over time though, since this has been introduced, will be the end of full time hotel receptionist front desk jobs eventually especially one you can do more with the apps and don’t need to talk about a single thing with a human.

nor can you patent adding an app to a digital lock. like literally none of his patents would hold up I think.

Yep

Face scanning ai will eventually replace that lol

And jenny would be out 🤣🖕

If this guy was on Shark Tank U.S, I have no doubt Mark or Kevin would have torn this guy apart too 😂.

Parents are proud?

This is literally just RFID doors. A lot of hotels already use RFID cards for their rooms. The only difference here is they have an app that lets you pull up the RFID info on your phone instead of having the hotel put it on a card. Walt Disney World resorts already do this with both your phone and magic bands. I'm not sure how he could get an enforceable patent on what is essentially just an RFID reader connected to a lock.

He was ridiculously passive aggressive to them. Prob the single most unlikable entrepreneur ever to come on Aussie shark tank. Perfect example how Not to get an investment and alienate investors.

He acted as if he was doing THEM a favor. Weird ego

@@pastelberru Yeah, that’s it - he did act like they were blessed to be in his presence.

Arrogance is fine if you can back it up. This guy couldn't.

2:14 LMAO he really doesn't have an upper lip. Dude really is a Who from Whoville

Needs that nose

Yeah, about that.. im assuming you do not live in the US, nor have an honest clue on what your trying to joke about.

Sounds like the winners would be the lawyers in that situation. The sharks knew that.

Hotel keys have already worked off of reprogrammable rfid chips for decades already, no new security concerns there because it's already been an existing product before he ever made his app. Most programs already moved towards two factor authentication with mobile numbers so as long as his app isn't stupid and horribly made there is no new vulnerabilities. He to worry about on that end either. He didn't invent anything tho so it'll be interesting to see him trying to claim his 'product' was stolen or his patent was infringed upon. It would be like if I put a horn on a kids tricycle then tried to sue anyone who did the same by adding any noise maker to a 3 wheeled vehicle... In this case he didn't invent any of what he's marketing, not the reprogrammable rfid tags (which hotels have been using forever already), nor some new and innovative mobile app that stores passwords, those have been a thing forever too and hotels already use a similar data base, they just didn't allow people to access the server with a mobile app before... Plus the whole reason we put rfid scanners and reprogrammers in a phone was to do exactly what he's trying to patent, no way any of it will hold up in court because people "copied" him...

Apple had passbook keys before this.

Mark wahlberg is attractive and charming. This guy has about as much charm as a cactus tampon.

@@guesswhat-chickenbutt Ouch. Guess you hurt his feelings as much as the cactus tampon would hurt anyone using it 😬

@@mrfookayu theres just something about his arrogance that's offputting

I agree. Knowing faces and who to talk to if you need help is far more important than saving a little bit of time checking into the place.

@@tarekyared4404 in fairness frequent business travellers would appreciate bypassing the front desk.

We’ll I’m short fat and ugly so people aren’t very nice to me and I tend to avoid them

Imagine a dishonest manager/desk clerk renting out rooms for cash without the owner getting a cut.

Editor wants to try out the new sound bank he purchased.

@@AlphaCentauri24 🤣

Thats how America Tv is, most other countries will try and replicate that feel

Ok boomer

I don't understand it But I'm also not trying to start a business so it's probably ok lol

@@CieraMychele assets= equity + liabilities. Basically assets include debt and credit so he was trying to figure out how much actual cash he had. Most people don't know what that is but in business, this is the most basic equation you need to know, especially if you are trying to get money from investors lol

@@venomkiler1 The question was about equity, not assets.

@@Eidolon1andOnly exactly. He replied asking him if the question is about assets, which is why I pointed it out 4:19

@@venomkiler1 Should probably start by explaining what equity is, then contrast that with assets instead of just explaining what assets are. 🤷‍♂️

Disaster waiting to happen. And never trust someone with no upper lip

@@sarahreynolds6805 I have no upper lip 🤣 but still peng dough init 🖖🏼

That is exactly what he’s doing. He has no intention in doing business. Just advertising !

Appearing arrogant and difficult to work with, not to mention lawsuit happy, isn't a great look lol.

If you knew what a balance sheet looked like then you wouldn’t think it was unusual at all this man clearly spent zero time preparing himself

Granted it's not a question we hear too often on Shark Tank but he claims to have 6 other partners all brought-in at various valuation stages which opened the door up for her question.

I think the question was rhetorical because the value is determined by the offer which he gave as 3% for the amount of investment. So the lady was asking a rhetorical question that he had answered: 3%

It did seem strangely worded to me, but is response showed he had no idea what she was talking about... "You mean the assets?"🙄🤦‍♀️

LOL Accounting 101 , which any business person should know : assets = liabilities + owners equity. A CEO shouldn't be surprised by this and should have at least a ballpark.

😂🤣💀 hahahaha too true!

What are the ways it can be hacked? Not trolling just curious

Yeah. Unlike door locks that are 100% safe and pick proof.

you can literally hack any door

@@markusmuller560 most of those use rfid codes which are just frequencies so if you get it right, bingo bongo you're in

@@markusmuller560 A single $20 RFID skimmer could steal your room #, entry key, and possiblly even your payment info from 20+ feet away without you knowing. There are a few videos online that show how easy a little know-how can crack this stuff and why to provide good shielding against these kinds of tools. A single guy with a laptop and one of these skimmers in his bag could own the whole hotel with the slightest breach. Deviant Ollam owns a company that does specifically these kinds of things to consult on why this tech isn't NEARLY secure enough yet. I highly recommend looking him up.

He's going to sue Hilton

JT Loh still haven't been sued and I doubt their patent will do anything if they don't have lawyers.