"Kerry Staite rode into the Tank with his ‘brightest dynamo bicycle
light in the world,’ asking for $50K for 25%. His invention functioned
as a dynamo battery powered by cycling that powered a bright light and
doubled as a phone charger.
Kerry got into hot water quickly. He called Naomi ‘darling’ (tip:
never do this), interrupted the Sharks, wasn’t consistent with what he
claimed and didn’t have a compelling business plan. Also he managed to
shine ‘the brightest dynamo light’ directly in Naomi’s eyes.
Shark after Shark dropped out, citing confusion over the technical
aspects of the product and Kerry’s business plan. John simply said
“You and I together in business… we’d kill each other."
I was chatting to someone who claimed to have seen the full thing (though I can't find the full pitch), but Kerry apparently lets slip that he's buying electronics from China and flipping them for an immense profit. Not that there's anything necessarily wrong with that, but it does seem a bit daft to admit this on air.
I'll just pop this here...
https://tenplay.com.au/channel-ten/shark-tank/articles/how-not-to-do-a-pitch
https://tenplay.com.au/channel-ten/shark-tank/extra/season-1/klite-interview
I was chatting to someone who claimed to have seen the full thing (though I can't find the full pitch), but Kerry apparently lets slip that he's buying electronics from China and flipping them for an immense profit. Not that there's anything necessarily wrong with that, but it does seem a bit daft to admit this on air.