Anybody else watching this show?? the 2nd episode aired tonight after who wants to be a millionaire. Some have had really good ideas and some not so much. But I sometimes wonder if the ones that have good ideas, the offers made, would it screw them over?? I know nothing about business and investing though.
The 2 best ideas so far is the guy who invented a product that wont allow a car to start unless the driver puts on his seat belt(Life Belt). He has a teenage son and thought about him being in a car wreck and not wearing his seat belt when he came up with the idea. The problem he had was that he wanted to sell it as a product as a business instead of selling it to a car manufacturer because it might take 5 years to see any profit from it. Im hoping though he listens to the sharks advice and sell it to a major car manufacturer. Even if it took 5 years, he would be set for life, and so will his kids. The sharks offered him 500,0000 for 100% of patent with no phone calls or 1 million dollars for 100% of patent with 1 phone call, he chose neither. Which i would have done the same...
The other was an English teacher that came up with a teaching tool. He made a 30 cd of collection of songs to help students learn and understand about shakespeare. He came up with this idea by one of his students saying they would be able to learn more if they taught it with something they could relate too. He had 3 different offers. First offer was all 5 would chip in for the $250,000 for 100% of thew company, and 5% royalties for him. The 2nd offer was one shark said i will give you 250,000 for 100% of company and allow him to buy back 49%. the 3rd offer was 51% to 49% of the company. The offer he took was the 5 sharks owning 100% of the company, giving him 5% royalties and with the money he makes, a chance to buy back equity in the company. I hope all works out for him. He has in the works also more subjects including history and science.
The 2 best ideas so far is the guy who invented a product that wont allow a car to start unless the driver puts on his seat belt(Life Belt). He has a teenage son and thought about him being in a car wreck and not wearing his seat belt when he came up with the idea. The problem he had was that he wanted to sell it as a product as a business instead of selling it to a car manufacturer because it might take 5 years to see any profit from it. Im hoping though he listens to the sharks advice and sell it to a major car manufacturer. Even if it took 5 years, he would be set for life, and so will his kids. The sharks offered him 500,0000 for 100% of patent with no phone calls or 1 million dollars for 100% of patent with 1 phone call, he chose neither. Which i would have done the same...
The other was an English teacher that came up with a teaching tool. He made a 30 cd of collection of songs to help students learn and understand about shakespeare. He came up with this idea by one of his students saying they would be able to learn more if they taught it with something they could relate too. He had 3 different offers. First offer was all 5 would chip in for the $250,000 for 100% of thew company, and 5% royalties for him. The 2nd offer was one shark said i will give you 250,000 for 100% of company and allow him to buy back 49%. the 3rd offer was 51% to 49% of the company. The offer he took was the 5 sharks owning 100% of the company, giving him 5% royalties and with the money he makes, a chance to buy back equity in the company. I hope all works out for him. He has in the works also more subjects including history and science.