Life-Saving Device's Demonstration Kicks Off Unique Bidding Situation | Shark Tank AUS
소스 코드
- 게시일 2020. 01. 21.
- Luke and Vanessa Gosden from 'Torque Safe' seek a $300,000 investment in exchange for 15% equity. Their business manufactures and sells safety switches for dangerous hydraulic torque tools - will this turn out to be one of the biggest investments from the Sharks?
Company Website: www.torquesafe.com.au/
An international sensation, Shark Tank AUS features entrepreneurs pitching for investment in the Tank from our Sharks, five venture capitalists willing to invest their own money in exchange for equity.
As Seen On Shark Tank Australia Products: amzn.to/2ZJBbyf
Shark Tank US Products Collection: amzn.to/3bMNjmI
#SharkTank #TorqueSafe #Rare - 엔터테인먼트
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Guy didn't care about the profits as much as seeing his product save hundreds from losing their hands. Respect for both of them and I hope this will take off as the procedure looks quite risky without it.
@Nathan Sieber hahah thanks I edited it. Quite naïve of me saying people die 😂
@@papy123098 oh people have probably definitely died from one of these tools anyway. Probably only .01% of total injurys though but someone would have had to die from this
Without proper pain killers and such you can very well die from the pain.
@@Tyshkevich especially in the middle of nowhere in a mining/drilling field. Definitely an extremely nessecary invention
@Nathan Sieber
You've obviously never worked in a factory setting or anywhere big tools/machinery are. People have died from hand injuries, even minor. Because of not getting treated right, get infected, etc. I haven't seen 1st hand but I've heard enough especially from those safety meetings.
I like this guy.
He knows his product.
He knows the market.
He knows his numbers.
He doesn't over exaggerate.
His company is very successful now
@@plasmachicken really? Do you know a site or what's the final name?
@@jochemcode4570 check video description
but i’m out
@@jochemcode4570 it’s believed that the company (2020) was worth somewhere around 15 - 25 Million USD
This is one of those, “wait, that doesn’t exist already?!” Situations
Right. It looks like a basic hydraulic trigger on the tool. (similar to an air gun trigger, but for fluid instead of gas.)
@@JonesNate Except for the price. Its gotta be more complicated inside. Of course any specialized industrial tools cost a lot and are usually very well made; expensive when they fail.
@@JohnDoe-zs6gj my guess the cost is less in the tool itself and more in the extreamly low tolerance.
If its not 99.99% failure free in rough enviorments its not really doing its job.
My guess is they spend $800 on making the part and $1200 testing and scraping ones that dont meet standard.
@@JohnDoe-zs6gj yeah the guts of the trigger have to be pretty technical. If the guy operating the pump is pressing the button then all that pressure is going to the tool, so it has to be able to re-route that pressure until the tool operator pulls the red trigger or else it would blow seals, and then instantly re-route high pressure hydraulic fluid back through the tool.
yeah they were like , "oh fuck, let's hop on this"
"Australia, mate?"
- "yeah they're Australian made."
He asked “are they made in Australia, mate?”
Yeah they're Australian, mate
🤣🤣🤣
All this guy wants is his product out there. He doesn’t care if he makes millions, he will sleep just fine knowing how many lives he’s saved
@Jorge Agustín Solsona Britos just to test something for an hour don't use one of your hands.
Then think about living your whole life without it.
I believe the life saving was figurative because a miners/construction workers hands ARE there life.
@Jorge Agustín Solsona Britos I've had my leg crushed in a granite accident. It absolutely changed my life and my family's. Taking away somebody's had does change there life. Maybe that's what he's talking about
Jorge Agustín Solsona Britos If you’re underground in a mine and your hand gets cut off, you can bleed out and therefore die.
But also, these guys can’t make money without their hands. Their hands feed their families.
MakingExamples lmao it cares about both.
Without money there’s no strive for innovation.
@Jorge Agustín Solsona Britos You might be right but your attitude is pretty messed up. You might not value your hands and feet but other people does.
A man like that deserves praise, I had a co-worker that got his arm stuck in a transportation belt. Got crushed up to the shoulder and ripped off. The safetystop for the belt was disabeled. The union pushed the company to take responsibility and give him lifetime employment because his career as a mechanic was over. Life and livelyhood goes hand in hand many times, he's now a process operator.
Australian’s seem to size each other up by how they say “mate”.
Nah they don't. MAYYYYTE.
I can think of at least three different ways to say "mate" off the top of my head.
Nathan 34r13 I’m Canadian... grab a stubby mate, you’re a damn legend.
DefinitionH
Good observation
I don't get what you mean, mate mate mate mate mate?
American shark tank
"I'll give you 5 cents and a half eaten stick of gum for your entire company"
Even better deal, “2 cents and no gum”
Even better deal, fuck you this product is now mine and you owe me $6 million for trying to steal our product.
I mean it depends on people, the product, and shark. I have seen some really good deals.
Then again also seen a lot of fools who have not done the research on their business or Shark Tank.
An some of the sharks are more generous than others.
Even though most of the richest people in the world live in the US. A quick Google search shows this. So they'd at least offer a whole fried chicken leg and 10 cents. Geez.
@@TheAyanamiRei Dragons den is way better in one episode had the great great great grandson of the original John Cadbury in it.
This man barely smiles the editors had to re-use the clip of him smiling 5 times
Still original content, unlike someone.
nobody is talking bout the fact u got a mil subs MEMERMAN also I watch ur vids btw
I have no reason to tell why m out. That's why m out 😃
Not everyone gets on this show, to be on camera. 😏 Think on that, for a sec.
My dude love the content
I work with hydraulic torque equipment almost on a daily basis, one of the issues we face with live machinery running around us is that the communication between the operator of the pump, and the person holding the tool is not always the clearest. I can’t count the amount of times that I have seen possible hand injuries, or almost had it happen to myself.
We have looked for solutions to this problem on the market, and apart from a light/vibrate system we have not seen anything that could potentially prevent it at an engineering level.
I look forward to seeing this as a standard in the mining and construction industry and will be raising it at my next OHS meeting. All the best.
I got a Saw Stop in the shop I've seen it save limbs
I used to design and build these. There are so many options for this task. That being said I now own my own business and don't need any investors. Just the fact that they are on the show makes me think this product is not that good.
@@wannabecarguy , then where is your product being sold, what are the problems with this product, and how would you improve this product if you legitimately used to make products like this one in your life?
@@paxhumana2015 He's a bullshitter. Number one rule of KRplus comments section is don't believe anyone in the comments section
Is there nothing that will act as a safety stop when someone screams in pain?
You wasting a tomato mate, and for that reason I'm out
Barbara for sure would have said that.
hahhaha
😂
@@KeepItReal2024 they were a whole island full of criminals... And you call them 'snowflakes'
@@KeepItReal2024 is there even a point to your comment or are you just proving your stupidity and lack of reason?
This guy is merely trying to prove to the world that when he crushed his mates hand, it was an accident
I felt that the second he walked in
Am I a bad person for laughing at that?
😂😂😂😂😂
It was a preventable accident
Were you that friend?
She was silent the whole time till the end when she let the room know she was the real boss
A strong couple for sure. She is his back bone and he is hers. They seem to compliment each other really well
She is true bosx she might be a capricorn 😂
@@SUZUKI1777 no shes a business owner
That guy is an inventor, he make a right choice. Give management to someone else.
@Chuck's poke Bear in mind we don't see everything that went on, even less do we know what the couple had been through to get to where they were. Notice they were receiving help from some of the non-participating sharks to get them to negotiate. They were very happy to get half a million (setting themselves up for a comfortable life) and relieve themselves of a lot of stress, freeing him up for another invention too. So I think they did pretty well, all up.
@Chuck's poke Very true. Those sharks didn't make their fortunes by being nice. Too many people go on this show with no real knowledge of what they hope to gain from it. But that's often the case in life and it makes the show interesting to watch.
Nickola Tesla could have learned a few things from this guy. Tesla most amazing inventor of all time but equally the worst business man of all time
Chuck's poke you are right. These are sharks and they devoured this guy. His company is already guaranteed to profit $2,000,000 over the next year with the 800 unit distribution contract and he sold 50% of the entire company for $500,000...... Any business minded person would have easily gotten a 7-figure deal for 50%.
@@S-K69 the 2 mil is not actually profit bro that's gross not net they probably making a mil of profit on that since he said his margins were at 50% but still I think maybe you are right on the deal. That was just one company ordering 800 units they're so many more they be bring in way more than that but at the end of the day they happy with the deal and congrats to them on making a devices that will help people in the work place
Luke, if only you had come around 10 years ago, my cousin would still have his hand.
Firstly, thank you for making this.
Secondly, congratulations on the deal
Had a similar situation with my uncle, he didn't lose his hand. But he can't move three of his fingers and has severe pain still. He was working on a mining site, if this product came out 8 years ago he'd still be able to do alot more than he can now.
irwtdbower wrong time/place bud maybe delete that
@@ijustpk6836 WTF seriously? Delete it please
Lol just a joke on the internet ...
@@ijustpk6836 wrong time wrong place buddy
They laugh and chuckle at smashed tomatoes, in truth this is the end of work for many people. Hand injuries limit a person so immensely in this day and age you almost are forced to become jobless due to a crushed hand
The absolute balls of this couple to walk into the shark tank and negotiate UP
Well considering the product is a safety one it is guaranteed to make money, any decent company would buy them and once they become standard and widely available then their use could be made compulsory through legislation
This is going to become industry standard eventually. Knowing your worth isn’t anything to be worried about, counter offers are always needed when being thrown an offer that can be negotiated.
But they didn't, the original ask was 300K for 15%.
They already know those mining companies will pay to avoid legal costs.
On the American version, its i need an answer now or i'm out. No, don't listen to any other offers. Not as pushy here. i like that
It definitely seems like they all get on much better, yeah
Jordan Mc thats why I like this version better. They’re patient and much kinder. I wish I could watch full episodes here in the states. I love Steve asking where they’re from and saying “Yea, that’s wonderful” no matter where they come from.
If you ask me, it’s a little dry.
I’m so sorry
Same in the UK version. Much more respectful that way.
@
Jordan Mc --- I personally would accept a deal that I was looking for if offered right away and if someone were to give me an altimatum to chose now or I'm out... I wouldn't want them as an investor so, they are more than welcome to go out. lol
Props to his girl for giving her man the balls to talk the sharks up another 50k
It was awesome... leaned up and said "Haaalf a mill!"
Stones on that gal. Love Aussies but the Perth mob are legends 🙌
Think the shark with glasses liked that.
It was great but they should have asked for way more money initially or negotiated for more.
Did you see how fast the sharks said yes?
@@charliebain5086 it was pretty obvious neither of them were too concerned about how much they made from the idea. Dude just wanted his invention to become standard to protect people.
@GbbJunkie Nah, they'll be fine.
Shark Tank summary: you've done all the hard work, let us take full advantage of you because you don't have the capital.
Sounds about right
And connections
Exactly
Shark Tank summary: you have an idea but you want someone else's money to play with.
Putting up capital = risk.
Dude gets 500k plus 50% royaltys for life he gets to go home and chill for the rest his life
No! That’s 500K is intended to grow the business. However, I think it’s a good deal. They made the product but they need help to get money out of it. They still own 50% stake so assuming profits reaches millions, by they gonna be millionaires.
@@d7mghamdi567 They are millionaires now
Do they get to keep the money? I thought its an investment in the company. Not cash for them
@@mikelr9633 The 500k is too grow the company.
They still get 50% of the profit from sales. They do get 1k for every sale they make.
Imagine Barbara being here, sitting facing the wrong way and being all "I don't know how I got here, and for that reason I'm out"
Lmaoooooo
I’ll still eat her out R
@@zerajnimegroj3012 fax
@@zerajnimegroj3012 yessir
💀💀💀💀💀💀🤣🤣
This company is already all over the internet. Looks to me they're doing fine.
This TV show was 4 years ago.
@@bremCZ that's still really good for such a young company most take years to build up
@@jacobcastro9705 The company existed before the show too.
It’s mostly for the commercial
@@vinayyadav259 shut the fuck up
"Basically had one of my work mates got his hand crushed by one" jesus Australian accents are like the opposite of russian accents. Australia placates everything to an enjoyable calm while russia gives everything aggressive undertones of death
Definitely. Only Russians can say "let's feed all the people together" or " hey let's share" and it sound as " let's kill millions thru incompetence"
@@stevetoth7136 that's ignorant, it is competent death
@@stephenkolostyak4087 tomato tomahto
"Ye me mate got his hand crushed once, it was bloody, quite a scary view"
"You guys are passionate and trying to change the world... I'm out" wut?
She doesnt have the connections to be a help is what she was saying so she wants to help but she cant
😂
@@mystictabletop6040 yea thats what she ment i think
She hates people, she only invests in weopons & plastic etc
It’s not about helping it’s about investing
"So why'd you make this?"
BOI DID YOU HEAR A WORD THEY SAID TILL NOW
I love the fact that he wasn’t as much distracted by how much he can make, but rather the fact of how many people he can save. I’ve had a serious injury with a pneumatic tool, and had to change careers entirely as a result of my injury. If this safety device was around 5 years ago, I’d still be doing what I love, as apposed to doing what I can.
This tool is for hydraulics, not pneumatics.
@@lazyh-online4839 let me tell you the story of the guy who wasn't as smart as he thought he was.
@@jacencade4019 please do tell.
@@lazyh-online4839 Hydraulics and pneumatic tools work on the same principle. The main difference is the medium used. Hydraulic tools are used when high pressure / stiffness is needed, as fluids don't compress as much as gasses. Air tools are used when you only need moderate torque, but also speed. They're much cheaper and more widely adopoted. I work in construction so we use both hydraulic and pneumatic tools. However, both could make use if this because it's basically a safety shut-off valve. Valves will work for both pneumatic and hydraulic (the valves themselves will need to be able to withstand the higher pressure of hydraulic applications).
The end
Andrew "I just don't think you're right to run your company..."
5 mins later Luke is being cool as a cucumber with offers coming in and even negotiates an additional 50k with 3 investors teaming up for it 😂
Yeah I didn't get that. They managed to set up the company, already go an order that will bring in profits of 2 mil and got in contact with a distributor that's talking to 15 different companies for them. I don't know a thing about business myself but it looks like they have at least a rough idea of what they're doing
"How did you come up with this?" "Oh yeh, so basically, mee mate crushed his hand in one of these." HE SAID THAT SO CASUALLY.
They are Australians, I think that an Aussie cannot say anything in any other tone but calm casual.
Where are you from?
"Me mum"
Ah, thats nice
My mummy's tummy.
Troll Mortal ohh noice
FUCK ME! Brilliant comment 😂
skogis FUCK YOU? FUCK ME
As a Boilermaker we use Hydraulic Torque system called HY-TORC. It’s a two man operation.. one man to use the torque head and the other to operate the hydraulics. We use this EVERYWHERE!!! I just had a job in New Orleans at a Nuclear Plant where we had to torque 1,100 3” Bolts to 15,000 psi. We always laughed when we had a close calls... but truth is these High Torque machines are terrifying and communication is key to keeping all your digits.. i back this product 100% and hope to see it used in the field one day.. Huge potential in the Nuclear Power Plant Industry.
Alex, their demonstration didn't really show how a hand can be injured. With your experience and background, could you please explain how hands get injured? Thanks.
If you allow me, as far as can see the equipment does a movement in one direction only as you can observe, so your hands can not be in any shape or form in any part of the object equipment in the range of the movement keep the hands always behind. Why?
Because, where one might work with it, the enviroment(rocks) the shapes varies.
That s my 05 cents view.
@@AtlantaTerry if there's any miscommunication between the pump operator and the user operating the torque unit itself then theres always a chance of a body part being close to the working parts, risking being trapped between a hydraulic press. The torque safe gives the person operating the unit the control instead of the pump operator meaning it will only work when they tell it to work.
As a Wind Technician I have been around these hydraulic torque devices. The first lesson is about avoiding getting yourself hurt. I can see many reasons to invest in this safety device. Good job creating this tool!
I was a tech for 15, also did construction and machining. I almost lost my hands one day, so I really respect this couple and thank you to the sharks for backing them. Thank you, guys.
30% so double the equity you asked for.
Me who knows nothing about investing. "Yes that's very interesting"
The participants generally come offering a low % share since they know the sharks will double it up anyways
That means investor is offering him half of what he asked for (15% for 300k)
Hahahahahaha I love this comment so much I thought I was the only one😂
Same
The respect this man has over his coworker going through this and not wanting to see anyone else get hurt by this unsafe torque wrench is heart warming. Pure hearted people still exist.
Yet he wanted to charge 50% more than what it cost to make
@@JohnnyWang826 For a tool in that field 5k is nothing.
@@Freakmaster480 I never said it was. Only that he is interested in making money
“Show them you’re husband and wife by holding hands” - Producers
As someone who uses those machines, it's refreshing to see people that actually care about the workers safety and is doing something about it. Excited to rub across this product on the future. Only worry I have is companies wanting to pay that money, even though it will make that job safer.
They will only because it will reduce their liability insurance.
I don't see an issue with companies paying for it, one workplace injury lawsuit more than covers the cost.
Steve wouldn't be him if he wouldn't ask where they from lol
I'm waiting for the day he comes across the place he hates "western australia, great" Northern australia? I'M OUT. GTFO.
Ah yeah hi Lenku, where about's you from mate?
@@XSteve-gz5ko idk if u're being sarcastic or anything, but he's Lithuanian (I think)
He likes to know who he's working with and where they're from
There's different social standards in each state and different perspectives . So in WA , their goals and measure of a good idea may be very different from that of Sydney or ETC.
He is not a racist right?
These people must be swimming in money, they are partnered with shell, Siemens, ge and others.. Wow. Ice for them
Thats not remotely uncommon in manufacturing.
User Name Yes, everybody get's those contracts willynilly ^ you get one you get one get one !!
@Darkfarfetch what? where's your source?
@@rizumaizhar2746 I believe it. That's what happens when you give away 50% of your company. This was a classic case of "this guy has a billion dollar idea, how can I take it?" Number one rule of negotiating with venture capitalists, never give up more than 49% if you want to keep the company. It was a bad deal. They would have been just as successful taking the 30% deal.
@@dalencatt7100 You clearly don't understand finance.
51% is the traditional "magic" number. The reality is you're fine as long as you vote the controlling interest of shares.
As it stood here, the couple have 50 percent of the company, while the three "sharks" have 50% between them.
This was easily the best deal offered to them. The dude knew how to spot and solve a problem. But had no clue how to actually scale and run a company, let alone a multinational like he now has.
Having business partners who do have that experience, knowledge and contacts is invaluable.
I guarantee they'd be no where near the volume if they'd taken the other deal.
“Crushes your hand”
“Ouch”
Never even knew there was an Australian version of this show.
Same.
Theres alway an Australian version of every show
lol I thought this was the original, figured they rotated investors once in a while and this was just a *super* Australian lineup.
Funny, I never knew there was an Aussie version.
My hand got broken from an air compressed torque gun. Couldn't imagine a hydrolic one 😬
It dose not stop they just keep going untill it breaks or is shut off.
Same here, pneumatic tool injury. And like you said, it’s almost impossible to imagine the trauma vs a hydraulic tool
How did that happen?
William Uskoski I build military parts and I was torquing a bolt and the wrench slipped off and I put it back on a started torquing again and it grabbed my hand and smashed it against a turret bearing. I was getting trained and I didn't know it was going to grip like that so I wasn't ready.
@@asianwaffles69 I'm sorry to hear that, watching this episode actually made me happy it seemed everyone had the right intentions for once.
Is anyone going to talk about how awkward that was when that guy walked up actually thinking they needed a hand...
He didnt that's just steve for you
😂
Yeah,it’s not funny at all when you see an accident like that in real life with a real person.It’s horrible the damage tools like that can do.
Dude had description of tech start up pioneer. Dude most likely wanted to see how it works at a closer angle
B.D W nahhh it was awkward
I like these investors SO much more than the Americans
Move to Australia then
@@DeadDogInc why would i leave my home country because i like investors more on a tv show? Your name suits you and your absolute nonsense.
@@cassiuscarter2832
Typical American getting butt hurt. Your name fits you. If you like them so much go marry them.
@@DeadDogInc btw what does "Carter" suit exactly?
@@cassiuscarter2832
What does Carter suit? Woosh as they say.
What does the A in USA stand for? 😉
Well done to the lady for bumping it up to half a million. Well played
It's Australian dollars
@@JohnnyWang826 Half a million AUS is still half of a million, just like half a million YEN, GBP, MEX and USD are all the same amount of currency, just with different values. I'd much rather have half a million euros than bolivars!
"the problem with hand crush injuries is..."
Your hand is frikking crushed!!!
It's a huge financial liability because the person who gets his hand crushed is usually a mechanic or engineer.
That's lost/reduced productivity over a lifetime.
This will probably become an industry standard real fast in countries with liability laws.
gotta hand it to you
Yes but that by itself isn't a reason for a business to purchase the device. You have to detail the cost of NOT buying the device.
@@definitelynotobama6851 if I'm an engineer, and 1 company has hand crush protection, and the other doesn't, I'm going for the one where my hand doesn't get crushed
But thats way we have two hands
One of the best I’ve seen. It’s not just saving injuries it’s saving lives. He’s so set to change lives not make money. Absolutely genuine creation and I love it
Basically “I just want people to not get hurt, whatever that takes.”
So happy for those 2. I honestly believe in their passion for their product and especially their drive to stamp out industrial hand incidents. Great job y'all!!
That’s the most chill couple ever.
This has got to be one of the most complete pitches on any of these type shows
He created a product for a specific purpose that benefits everyone if used, I love it
These sharks actually made a home run because this is a highly needed device with all the dangers that comes with hydraulics
Mark Cuban would’ve bought the whole company off them for millions
I thought that's what was going to happen...
Edward Ness these guys don’t have the dough like Mark Cuban
this guy is, probably, a mechanical engineer who works or has worked with mining of oil extraction, with knowledge to create this tool and even more tools, they don't bought half of his company, they're investing his knowledge. understand?
Anthony Anderson Fernandes da Silva Fernandes it’s really weird how you just make stupid assumptions and act like you’re schooling someone.
@@MillerRL96 not many people have the dough that Mark Cuban does
I use a tool such as the one demonstrated in my industry for torquing foundation bolts and am very excited to bring this safety device to the attention of my company!
its not a safety device lol if anything it will cause more miscommunication and injuries. Now you have two fucking people pressing buttons plus holding a heavier more bulky and akward tool lmao. But go run and tell yoyr foreman so we know who to lay off next.
@@mikec8679 why do you need 2 people tho with this. Its basically like a regular impact now, with the trigger on the tool
@@mikec8679 someone didnt bother to actually watch the video and understand what was shown. The two person operation is what this tool tackles. Turns it in to a 1 person operation.
Brett Moore do you work in wind or what?
@@mikec8679 lol that's the whole idea of the invention to let 1 person control and push the button and eliminate human error by taking away the 2nd guy.
I work as a medical responder in an industrial facility. We don’t have these type of tools here (similar ones yes but not the same) so the risks are low but I’ve seen my share of crush injuries. I respect this guys design and the effort he put into it to protect his coworkers. Glad to see the company doing well.
As soon as these become industry safety standard, they are gonna make millions.
Me: watches literally one shark tank vid
KRplus:
Fills my whole recommendations with sharktanksharktanksharktanksharktankssharktanksharktanksharltanksharktanksharktank
James Gardiner but you won't get any on trump or anything vaguely against the pc world view lol. Go shark tank!
Shark tank o a a
Sharl tank😂
Sshark tank😂😂
@@fila6243 Because advertisers dont want to run ads on those videos, so the people who make them cant make high budget videos, so the videos never get popular, so they never get reccomended.
Jenny: I seemed to have walked onto the wrong show and for that reason I'm out
One of the best , if not the best, episode that I have seen.
This couple is definitely not chasing money but are more interested in saving people from injuries.
Well done!!!! Awesome!!!!
This is very impressive. It is the first safety device in the 45 year history of using hydrolic torque. I see Peter is the USA guy. I sure hope our Naval and commercial shipyards are using this. Great work Luke! You and your Wife have done very well.
I've had my hand caught in a hydraulic system and luckily it had a moisture safety system and you know kept me hand great thing to save workers kudos mate
Always the issue with heavy gloves in mines.
I'm genuinely amazed this product hasn't existed before tbh.
@@deathsdentist I know, strange right? Most power tools, the ones I've used anyway, have safety triggers (not sure that's a accurate description of what I'm talking about). You'd have thought that if they have that sort of safety for small power tools, they'd have similar safety mechanisms in place for heavy machinery/tools.
On a side note, I wonder if they'll invent something to help improve the safety of sheet metal rolling machines? As far as I know the only safety mechanism in place is a foot pedal that, when pressed, turns on the machinery. My ex-wife's colleague crushed his hand at work after getting it snagged on the metal he was rolling and couldn't get off the foot pedal quick enough for it to cut the power to the machine. My ex-wife had to throw the machine in reverse and hit the pedal in order to remove his minced hands - it was an awful sight.
This is the LockPickingLawyer and what I have for you today is TorqueSafe. A safety device invented for preventing hand crushing industries. Despite being a great device it is easily bypassed using only 3 frag grenades and 1 land mine. A flaw we commonly see in many products and isn't fixed in this one either. For that reason, I don't recommend this product.
Edit: Second half by Mar Celo
Duuude... Don't you think you've undersold yourself??? It's a brilliant invention, seemingly a near necessity for companies that value safety. As a one of a kind, it sells itself... You didn't need the sharks, even going by your current sales (assuming you really did sell 800 units) should have stuck to the 2 million valuation 😟
Why would you circumvent it?
@@MarceloVeronezzi just updated it ;)
@@cricketknowall r/woooosh
Got a click out of frag 1... frag 2 is binding... the mine seems loose. Back to frag 1.
I was yelling at the screen "TELL THEM 49%"
They didn't want to have to make all the business decisions
Love how casual the sharks are, alright mate I’m in we got a deal 😂
Honestly first time I actually enjoyed seeing a product like this I work as a technician and honestly I love when a company always tries to implement some sort of safety on tools because in all honesty at times it does take two techs for these tools and theres always possibility for miscommunication in a loud environment. Props to the inventors and for the sharks
There’s a legal requirement to reduce workers risk. If there’s a product your company didn’t use you’ve got them bang to rights in court! Should of sold for more money less equity and the sharks knew it!
Yeah the really rip people off in this shark tank
And they had a patent on it.
Ronove I’m glad you took the time to correct me. I should of known better.
@@kylenelson944 I feel like they didn't care they just wanted the product to get out there
Ronove I’m glad to see grammar Nazi’s intelligence can not detect sarcasm.
Welcome to the new generation, politically correct and can spell, but are all stupid and don’t have life skills..
People like this make the world a better place! By introducing such an amazing safety tool to the world they have a an opportunity to safe countless people from horrible injuries. Hands down my favorite episode of Shark Tank so far
This was the most powerful Shark Tank bidding I ever watched mate
00:59 ‘where you guys from?’
‘Perth’
‘Oh Western Australia great!’ *writes* NOT FROM QLD.
Someone lend some Money to barbara so that she can atleast fund someone before she dies
Better be quick lmao
"lots of people think about ideas, but they don't actually do anything about it" is a great truth.
Saving people's livelyhoods, inventing something in-demand, and making a great deal of money. WELL DONE.
Good deal, I don't think they were really interested in running the business and just wanted to get the product out and then retire early. Even if it turns into $100m company, I don't think they will care too much about whether they made $50m or $70m, they seem very humble people.
Mining companies would be all over this, I think it will be very successful for all parties.
Although I don't think they'll put a dime into it.
They'll rely on hytorc norbar etc. To integrate it.
And my only other concern is the size for retrofitting to compact cassette units.
There’s no way that company will ever get that big. Trying to get companies to pay double the cost for a tool that expensive just for a cutoff valve is a very hard sell. Even if it becomes popular enough for conscientious customers to fork over that kind of money how long before the companies that produce the tools already to implement a similar valve into the body of the wrench. They’ll be lucky to see half that in the life of the company. 25m - 50% for the margins then 50% of that to the sharks then 50% of that goes to taxes. After all that they’re looking at closer to 3 mil over the next 30 or so years. Not exactly living the life, but sure beats having to work for it. Especially if they get the sharks to push all the distribution. In my opinion, I doubt they make it that long. There patient will expire long before that anyway. They would have been better off going to the largest manufacturer of those tools and licensing the idea to them. At least that way they won’t end up just making a few changes and ripping your idea off.
@@badbatch974
To be honest i suspect it will lead to something like that early exit and force it into regs e.g. say hytorc norbar etc. May have to come up with x dollars to implement their idea obviously rely on a strong patent but this where hopefully the dragons can make the right contracts ned a good legal backing.
He'll probably go back together working as a fitter in the future. I suspect but won't have to worry.
But I could be completely wrong this is just my uninformed opinion
Once this is all over with but knows he fine
Bad Batch, the cost of this device, even at the low volumes the inventors had lined up (800 units per year), is less than the cost of a *single* hand crush injury. Even if you need to buy 10 of them, your company is coming out ahead on the deal the first time it prevents an injury.
It's a lot cheaper than a worker's comp claim and the resulting loss of productivity. Plus it's possible that insurance could even offer discounts on premiums for companies that use these.
My husband is a mining engineer. I have lots of respects for the inventors. Please bring the product into Canada. Best wishes.
Its always nice to see someone that's been in the trenches become successful. It's time the working man rises up. We build countries and can barely afford to live and survive month to month. Things like this give you hope.
I like the way steve claps his hands everytime when he gets the deal😂
"You make em in Australia mate?"
"Austrailia mate"
Australia-made*
@@TheYurikeeProject Straya-made*
@@edwardness7497 * Stralya Mail
@@J.P_343 *Stralya Male
Damn they just made 50,000 in 10seconds . off a single question . thats how a deal is made right there ....
$500,000 not $50,000 and designing and building that tool took more than just a few seconds and quite possibly at least $10,000 in testing just to build it right and make sure it works.
Alex I I think they're talking about the counter-offer that was made.
@@alexi2019 it was an additional 50k to get to 500k
@@connorstiles2284 on the other side, thats 50k of their own money they arent using.
@@alexi2019 manufacturing costs for each one was at least $3000 or so, they have one finished unit which is $3000, the likely made at least a couple other test units to get that deal they mentioned, not to mention working on a couple other prototypes to test (not to mention the costs involved in the testing itself and support equipment such as hydraulic wrench itself, pumps, hardware, etc.) before settling on a finished design. I'd say they likely had to invest at least $25,000-40,000 as an initial investment.
It sounds like this was a really good deal all around. He gets the capital and 50% and in return gets some incredible business and marketing expertise which I think he realized he needed. He obviously has a handle on the engineering and machining end of things. I bet he comes up with more products just as important in the future as well.
A simple yet effective solution to a common problem that occurs all around the world, these two are both really well intended with the product too, they made their product due to work experience. I’m very happy to see that this will be out helping people in the future and that it comes from people just trying to make a positive impact on the world without any alternative motives
I feel like i can practically hear him going "Dont look at the camera dont look at the camera dont look at the camera"
He looks like a genuinely great guy who wants to saves other peoples and make a great deal out of it
"Negotiating!" - Yeah, you guys really showed your hands and opened yourselves up to it.
I worked in the oil and gas industry and it's very important to have tools like these to get the job done safely and correctly. The job is already dangerous enough and you shouldn't have to worry about you're tools hurting or possibly killing you while doing it. We need more safety equipment readily available to workers that are out there doing the tough jobs that no one else wants. We all have families and lives outside of our jobs. These guys are going to save so many people from work related injuries and downtime.
Steve "slowly backs out of frame realizing he isn't needed" Baxter
7:23 “if we get the right help behind us, is that’s what it torque”
Hahaha this guy😂🙌🏼
Steve is so involved in every pitch. Love that guy.
They seem genuinely interested in a life changing product getting produced properly. Class acts
Never been so happy to see a couple do so well. Good on them for watching out for others.
These baby sharks remind me of tadpoles when compared to the American sharks.
Lol I was thinking the same thing. "It's a rare situation when we have deals that big" I was thinking "Lady, Mark Cuban once offered $30Million to buy out a company on Shark Tank." Granted nothing came of it, but it did happen.
djjazzyjeff123 I think that was the company Coffee And A Bagel. It’s good she didn’t sell it’s now worth 1 billion
@@KJ-qc3qd Right that's what it was. I DO NOT understand the appeal, I have no idea how it got to be so big, but the numbers speak for themselves so who am I to argue, lol.
djjazzyjeff123 agreed. The only time I have even heard of it was on that show.
Jar Head 150 millions but close enough...
out of the entire Shark Tank franchise, this has to be my favorite outcome by far
The guy in the middles job is to say what everyone else’s offers are
Those two seemed very calm and extremely smart
Hmmm... that’s a lot of equity. But not a bad trade off considering the experience and ability to scale the business. Hopefully its worth it for the inventor.
this guy is, probably, a mechanical engineer who works or has worked with mining of oil extraction, with knowledge to create this tool and even more tools, they don't bought half of his company, they're investing his knowledge. understand?
From what I see, the dude has high hopes for his invention, but understands he doesn't have the foundation needed to take a creation like that world wide. That takes a lot of management, negotiating, beuocracy, etc. He can hold onto that 40% like suggested, and just sit back and watch the money roll in while he sees his invention get the momentum it needes to be a success.
Also, a huge factor is this is the company's first year going big. That WILL make or break them. Even though he doesn't hold majority holding and can no longer have the final say in what the company chooses to do, it will still be up to a board who'll be interested in seeing the company succeed as it lines their pockets. With 40% of 2mil, that still 800k. That's around half of what a middle class individual in a first world country makes in their lifetime working average pay; a lot of money if they get bought out in the first year, which probably wont happen right away amd will just be a higher number if it ever does.
Not really it's bad deal, if you need business experience or management you can always hire them, you don't go around and give half of your company away when the potential growth is very high for some small chump change. If they need financing they can always get it. Also you can always authorize someone to make business decisions for you if you feel you are not capable or experienced enough.
@@noticedruid4985 you need to understand that hiring people for management is nothing compared to 3 investors, each bringing in six figures worth of funding, each well known established in the industry, and each with connections and networks whom they're willing to share. The inventor doesn't have any of that, wont get it from hiring others, and basically said he doesn't want to deal with it himself, he just wants to improve his invention and get it to where it needs to be, really the sharks are the best option for him. It does mean he wont get as much money or have final say on the board of directors, but he will still get huge ammounts through the company, and retain ownership of the patent all while be free to seclude himself in his workshop.
When I started watching these videos I was in some kind of darkness with how the money side of business works. Now I have little knowledge and I think I know where I am lacking and what May need to be done. Thanks Shark Tank
And another silent hero is born, honestly this guy is looking out for so many and they don't even know about it
"50% seems like a good deal to me..." too bad they did not negociate the most important part
They are viciously underplaying the pressure these things can produce with a tomato. I worked on wind turbine for 6 years and have a lot of experience with these. They are no joke
They shoulda chucked a piece of wood or something more resembling of the toughness of a human hand to show the strength of these bad boys. I mean even old mate thought it wouldn't be that bad when he jokingly ran up there ready to put his hand between the pole and the wrench
It stinks to go from 15% to 50% but having three of these guys supporting you is priceless. Nice!
it is technically speaking a "basic" bypass switch. but it's so well made and thought out that its way more than just a bypass switch. this is genius invention and this sort of system should be on all hydraulic tools in the world