Shark Tank Meltdown?

[AllenCrawley]

What the crap happened with this Michael guy with plate topper on tonights show?

 

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[healthstatus]

He thought IQ points were better than street smarts.

 

[theDarkness]

One of the most epic meltdowns I have ever seen.

At one point he was dismissing the exact offer he came in for as too low. What the hell was going through his mind?

 

[nation]

What the crap happened with this Michael guy with plate topper on tonights show?

I think he needed to watch the show a couple times before he went to the show.


The other thing is that editors are powerful people ... my guess is he was there much longer then the few minutes they showed on TV.

 

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[AllenCrawley]

Editing can be a powerful tool to show what the producers want you to see however the meltdowns didn't seem to be heavily edited. Also this one took up half the show. I read or saw an interview with one of the sharks that said each presentation is about an hour long.

 

[mohawkdcg]

He was either over-valuing his company or not. But the real problem was that he was not honest about what he wanted up front.

The Sharks saw that it was worth much more than he asked for, which was a $1.8M valuation. They came up to $3M and $4M right away and he could have probably negotiated a bit higher between them. Instead of negotiating with the offers on the table, he got greedy and tried to get the remaining Sharks to come in at $15M.

They were very interested but he talked too much and insulted the ones that had made offers. It was an amazing case of talking the Sharks out of the good deal they were offering. He ended up taking a $1.25M valuation deal that seems too low if he really had had $1M sales in 4 months on internet/QVC only.

 

[fpena911]

His stupidity was making me uncomfortable as a viewer. Sometimes less really is more.

 

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[PatrickP]

My best guess would be that when he applied to be on the show he didn't have the huge sales and sales orders he did when he got there. The time between when you apply and you get on can be months.

I would not doubt it if the producers told him NO you have to go in with the 15% for 90K.

So he was stuck.

BUT wow he screwed up, I probably would have messed up even worse with that sort of pressure. For sure I think he got the right person to work with.

 

[AllenCrawley]

My best guess would be that when he applied to be on the show he didn't have the huge sales and sales orders he did when he got there. The time between when you apply and you get on can be months.

I would not doubt it if the producers told him NO you have to go in with the 15% for 90K.

So he was stuck.

You know I was wondering this very thing as I was watching that.

Daymond really did turn it into a pressure cooker and things got extremely tense. Cuban was trying to calm the situation to give the guy a chance but the guy made worse and worse. I'm actually surprised Lori still did the deal considering the situation but I agree she was definitely the one to partner with.

 

[mohawkdcg]

Daymond really did turn it into a pressure cooker and things got extremely tense. Cuban was trying to calm the situation to give the guy a chance but the guy made worse and worse. I'm actually surprised Lori still did the deal considering the situation but I agree she was definitely the one to partner with.

I think it was a great product and Lori showed herself to be an excellent negotiator. She really made hay out of the situation! The product should easily go over $4M in which case she's made $320K from her $90K investment. A 356% gain.

It is probably still a good deal for him because of her experience. And she will probably put her attention on it because she is getting a good bang for her buck. With every $1M more she helps generate she almost doubles her investment.

 

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[100k]

Link plz... Not all of us live in the US.