A complete disregard for investors' money, an entrepreneur expects an investor to put a million dollars from his own pocket and is not even ready to validate why, there was an important lesson here for entrepreneurs that I feel the sharks didn't convey, and it's a shame... that's the goal of the program, isn't it?
Absolutely ridiculous. The would have had a shot if they asked like 50k for 40%, never once mentioned where he's selling, I kind of expected at 7:05 someone to say I'm out, imagine if he pitched to Barbara, Mark, or Daymond. They honestly may have done that.
You know this is edited. He probably said where they sell and it's probably online but that was edited out. I think a reasonable ask would have been 150k for 20% to give a wiggle room so sharks would ask for 30-45% which is reasonable given the 850 orders(with a unit price of 350 AUD for the big one and idk about the small one) so his sales are hundreds of thousands.
@@d7home2129 we didn't really hear what the money was for. But a million is just a joke. No world where he's in need of a million capital now. I'm not sure he needs 150k
I agree with the shark that said the future of home school chemistry is AI. Also, it si CRAZY to even thing of this chemistry lab hands-on kit involving fire flame pressure etc being handled by kids with no supervision and lab safe environment. It is nuts but I enjoyed the presentation LOL
AI/Virtual reality for science like this would be HORRIBLE! Nobody is going to remember some crap they watched with a headset on! This is the kinda stuff that has to be in person and hands on.
Great product, but a long way away from a business model. With enough research and data to back it up, in terms of academic application in classrooms all over Australia and the world, not to mention reducing manufacturing costs and distribution, they could've defended that valuation. A lot of aspects were not talked about enough here (in this edit, at least. We don't know everything that was said in that room)
This is a good example of someone who doesn't work in the real world where you have metrics and measurements that you have to meet on a monthly basis to keep your job.
She said her dad didnt embarrass her at the start 😂😂😂 30 seconds later we find he's missing a few screws and has anger issues. I cant imagine the embarrassment going back to school after that. Not her making it worse with the awk laughs omg.
Good product it resemble big brands like lego, wrong investors find individuals with engineering backround they would have understood the economics even better...
What's wrong with some of these people?? You come with a good product, you're getting sales and you're asking for a whole bunch of money and you cannot even justify it? If he was asking for 200K it would be a totally different story.
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ok ill be honest, Dad screwed it totally. However this idea of VR science is dull, it will mean nothing to the pupils. The only reason you have the Bunsen burner, the test tubes, the chemicals, is so that kids can see it happening, for real, in front of their eyes. VR will derisk it for schools, but it wont have the same impact.
Ikr!? I absolutely loved it when I actually saw it in front of my eyes tbh. I still can't forget how the RBC looked like, how Magnesium reacts to fire, how Sodium is absolutely dangerous when it comes in contact with water
