The Prototype Of Communication & Knowledge Entering Tomorrow
Great video from CNBC’s Shark Tank shard by LertGroup+
Two Sharks offer a kid $40,000 immediately for his application to help students find scholarships they might not have otherwise found.
The other Sharks wanted to know more about the financials of the company, but the deal was settled before then. After the entrepreneur left, the Sharks engaged in a raucous debate:
Was this charity or business? Was it wrong to invest without pressing for more information? Were they too quick because they felt they were giving to a charity? Why else would they not wait to hear more?
My take is the other Sharks are wrong. They invested fast because they sensed more offers coming and wanted to get in first. But there is a bigger question here…Why does it need to be charity or business? The product is a vision with a sound means to execute it. From there, the investors know they can help the company further its mission which will result in profits.
I think the other Sharks wanted in, and were right to want answers, but that is the free market at work…This kid did so well he started a bidding war. Why does he need to answer anything else at that point?
As for the two Sharks who invested…Mission and Vision first, profits will follow the initial success.
To watch the video: