@ SurfSET Fitness
Season 4 Episode 2 started off with entrepreneurs, Mike Hartwick and Sarah Ponn and their newest form of exercise, SurfSET Fitness. The concept is pretty much practicing balancing and learning how to surf, just not on water. So you can have the feel of surfing in your house or gym, and easily be trained to do so by taking classes. Anyway, they came in seeking $150,000 for 10% of their company, evaluating their business at $1.5 million. What happens next is rather interesting. Three sharks, namely Mark, Robert, and Daymond all make offers. Mark's was $300,000 for 33%, Robert's was $150,000 for 20%, and Daymond's was $150,000 for 25% PLUS free manufacturing. After a failed attempt by Barbara to try and get in on Mark's deal (by practically kissing his rear-end), Daymond allows Kevin in on his deal. While Barbara was raving about how well Mark Cuban and Mike Hartwick would get along with one another, Daymond was stressing how he would turn the business into a lifestyle brand, and as we all know, he has got that set up at the tips of his fingers. Mark stated to realize that Daymond did have somewhat of an advantage over him, and began his notorious 24-second shot-clock, which got him the deal at a negotiated 30% for $300,000.
Now I have two questions: First of all, why is it that every time Cuban feels pressured and is not in a winning position does he have to start making shot-clocks and throw the pressure onto the entrepreneurs? This is not the first time he's done it, and I guarantee you it won't be the last. Second, why didn't Hartwick go with Daymond's deal? Even though it was only for $150,000, he would retain more equity in his company, have free manufacturing for life, and get Mr. Wonderful on board at the same time. The more you think about it, it just doesn't make any sense! His business would really become a huge lifestyle brand and would be partially owned by the creator of FUBU who has the whole manufacturing and distribution system in place. How can you not take his offer??!!
The fact is he got himself a deal and a bottomless cash pit on a 24-second shot-clock.
I guess that's what counts at the end of the day. Still disappointed though.
Overall performance: 7