Shark Tank US | Sharks Are Shocked At The Cost Of The Smart Tire Company
ฝัง
- เผยแพร่เมื่อ 9 เม.ย. 2023
- Brian Yennie and Earl Cole are seeking $500k for a 2.5% stake in their company The Smart Tire Company.
From Season 13 Episode 10
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Shark Tank US | Sharks Are Shocked At The Cost Of The Smart Tire Company
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Dude really said at the end "I think if they understood the full business they would see alot of good here"....the sharks were literally begging them to explain thier business 😆 lol
And then he said "we know we're still going to raise alot of money and change the world" 😂 not a single lesson learned from this trip
There is no way 6,000 are waiting to drop 3k on a set of bike tires. And if you are selling a bike tire set for 3k, there is no way you will be selling a car tire for 800 each. These guys are liars. They say is costs 150-200 per pound? Why not know the number? What they meant to say is the tires cost them 800 to make for a car and they were going to sell them for 3k-5k each tire. 15k-25k per set of tires. All this tire business and they roll in on rubber tires. Idiots.
@@MickeysCorner 3k on a tire bike set is fair if it’s the last tire set you’ll ever need to buy . Pays for its self pretty quick 🤷🏻♂️
@@brianhomskis1873 considering a set of bike tires cost 50 to 75 dollars for a pair, it take you 30 years to break even. Also, they have to wrap that in rubber which would wear down and require either maintenance or a new set. Extremely bad use of money to buy these.
@@rodrigok1220 ya I was going to say I’ve had my mountain bike for 15 years and I’ve only replaced the tires twice
Mr Wonderful’s anger management classes really did wonders. I miss his "you're dead to me, get out"
The" f*** you" was golden too 😂
Surprised this pitch didn't send Kevin over the edge..... 20 million valuation and no sales
If this worked I would try selling equity on my toe nail clippings $10k for 1%
Popo to me is my favourite
@J040PL7 To be fair that guy was an absolute dick and insulted Kevin first AFTER he gave him an offer
Kevin really does seem like he’s been on some sort of healing journey and I’m here for it.
Miss the blunt, crush your dreams, Kevin 😂
Well his wife killed people so he has to
cuz of ftx lmao
I remember on one episode he said he had been taking anger management classes
Ftx might have been a wakeup call 😂
20 million valuation with no sales, awful costs, no business plan. It was kinda expected
I'm an Engineer. I'm a serial Entrepreneur - We told Nasa everything we did and THEY believed us so YOU should too !
Right there you know they aren't the real deal.
USD 800 for a bicycle tyre ! My bicycle isn't even worth that.
they're selling big vision
@@team3383 Hard agree I never understood why they focused on the bicycle business. I think their product has way more future as an addon you get on cars since there is more margin for price in those and people are already spending thousands.
@@wassup4532 Thats exactly WH I said that it's hard to believe them when they don't answer WHAT they do and WHO they are diretly, but only say - "We managed to sell the idea to the NASA" .... = NOT very credible or convincing.
They weren't even able to come up with a viable business plan - As you have on the spur of the moment and it's not even your product !!!
These guys are a laugh.
@@wassup4532 there are probably laws prohibiting you putting random materials in your car tires
when I was younger I asked my dad "Dad, why is asphalt better for roads than concrete" He said "its not, it's just cheaper"
best comment
Reminds me of our science teacher. Except, we didn't ask, she told us: Electricity travels through gold better than iron. Lol
@@mobbs8229 can you explain why that is important? is iron more expensive than gold?
@KingOverdose 💉💉 bruv, you're getting it mixed up, he said electricity travels faster through gold than iron
@KingOverdose 💉💉 as in, none is going to use actual gold instead of iron. The same way the OP's dad...come on, don't make me explain the joke. XD
I loved how Kevin controlled himself "Anger.....anger management"🤣
9:10 maybe he finna sya wrap this around... Haha
@@stevethea5250 bro what language is that
I think he was gonna say he'd rather wrap it around his neck and kill himself 😅
Watching Kevn Hart be serious and try to wrap his head around the ridiculousness of people on this show is sublime.
ALWAYS beware of a guy who says he's one of the best in his line on business but is asking for money to "develop" his business ESPECIALLY if he's already raised 1 MILLION plus dollars and is INCAPABLE of saying WHAT he's done with the money !
That was the most confusing pitch ever 😂
Because the sharks said so ?
Insta?
@@hakahaka479wtf
Not for me, they are explaining the business plan. Just because there is no revenue is the reason why none of them want to invest. It’s simple! 😂
@@infinitybless7132 Their business plan is to charge people $2500 for bike tyres bruh
What the entrepreneurs say after they leave the tank always tell you exactly why they failed.
They blamed the sharks for not understanding instead of taking ownership for their lack of clarity on operational execution. Their egos are not their amigos!
The fact that they're apparently planning to charge $2500 for a set of bike tires in-and-of-itself says to me they have no business experience whatsoever.
It was funny they were blaming understanding when they themselves complicated the information.
@@EGarrett01 you'd be surprised how much money bike enthusiasts spend on their bikes. $2500 for a wheelset isn't completely out of the water for a high end buyer who already spent $10k for a frame and transmission components.
@@ItsMeHammie But all he's getting is a wheel that doesn't puncture. If he has that much disposable income, you miss out on a lot of the value, which would be saving money in not having to replace wheels.
heh heh, their egos are not their amigos... i will remember that
I like how well Kevin did in judging the business. Sometimes people think celebrities, especially comedians, don't have a business mind and they depend entirely on their "team" to figure out deals. This proves that isn't always true.
What ? Dude is clearly clueless , can't even articulate himself properly. He's only there for PR
Can you please add hart here I thought when did Mr wonderful became a comedian 😂😂😂
Kevin is the richest comedian in the world along with having more sources of income from different places so he gets more practice.
Kevin has also said he was broke when he ended up messing up his money when he first got famous so he learned everything he could about Business/money to keep that from happening again.
@@justawildgengar w
If they could develop it for High Performance Motorsport like F1 I could see it being huge but it's never gunna get used for private cars at that cost.
F1? IoI not a chance! they have strict requirments about every singIe thing that goes on an F1 Race car
@@Napstone Yeah exactly - it's the only industry I'd see it could be viably used for and they would never use it. I imagine as well the Tyre companies just completely control who and what can be used.
It would be pure trash compared with the technology they have now.
If it was possible for F1, it'd already be in F1. I'm unaware of any autosport that is more on top of fancy technology than F1.
@@GeddyRC but don't they still do tire changes in F1 so how can the technology be more advanced than this?
if the tires are still wrapped in rubber they will have the same wear and life of normal tire, only being puncture resistant, but considerable higher cost
Maybe you can get the rubber refilled and it might be cheating the long run ..
I was thinking the same thing. There's a reason tires have been around for over 100 years. Rubber is the best option.
Correct. I was wondering when they would address traction.
@@michaelyount3843 their pitch was sp awful they couldn't even get to the important points
you've got a point
Mr Wonderful stopping himself before saying “I want to wrap this cord around your necks” 😂
That was my favourite moment 😂
Man, I felt Marks pain. Dudes couldn’t pitch their game plan at all.
cause there is none lol
to be fair, Mark doesn't have a lot of patience listening to anyone's pitch anymore.
They didn't have a marketing game plan. They were still in the inventing stage.
@@claytoncarvalho9176 To be fair a business are made for a end goal what ever that might be. If you invest in a stock wouldnt you like to know what sector the busniess are in and their busniess plan? These guys cant even tell what they had in mind when it comes to sales they just developed a prototype with no end goal in mind.
If you getting pitched you want current past and especially future vision of the companies financial values, contracts, some basic knowledge of the product and the market.
All these guys got is ”it’s a wheel that dont puncture and we dont know what to do with it”
@@claytoncarvalho9176their pitch is garbage
The tire has change dramatically in the last 100 years. We went from natural rubber with cloth bias ply, to a multi compound silica vulcanized rubber with steel/ kevlar reinforcements. Also nobody would by a $700 pair of bicycle tires. A goodyear bike tire costs $10! And it lasts for 5 years of heavy riding.
It’s $2,500 for the pair, not $700. They’re out of their damn minds if they think people will pay that for bike tires
My thoughts exactly. I've been riding regularly for most of my life. I think I've had to replace massive 5 tubes/tires ever. And that's including my kids and wife in the equation too.
@@seant.2387 It's $2,500 for a pair of tires AND wheels, the tires can be had for only $500, mind you that's still incredibly expensive for bike tires, and half the cost of my bike!
Not to mention the weight of a bike tire. They should have focused on automotive tires
Agree
9:54 I laughed so hard when I realized who their last hope was.
All roads lead back to Mrs. I'm out 😂
Without even finishing the video i knew who you were talking about 😂
@@J040PL7 Yeah and when she starts talking, you know she's about to go out on them with a double backflip and extra cheese, lol.
I thought she was gonna say "you know where this is going, right?" Lmao
@@trblemker00 SAME😂
For those who don’t know, Earl (space suit) was actually the season 14 winner of Survivor
Thanks for the info.
God bless you.
It's the first thing I realized when he took the helmet off!
Can't believe how far I had to scroll to find someone pointing this out. This was the first thing I noticed
If he mentioned this they would have gotten a deal
Nitinol is not a cutting edge material any longer. Orthodontist have been using it in the wires for like 30 years +. The main problem with the material is the coefficient of friction that it produces, which is high and will be a problem for tyre purpose plus they will also wear and also the sound that they will produce when in contact with road will be something that have to be looked deeper into. Hope they have worked out around these issues .
My question is: Do the tires go bald and have to be replaced like regular tires? Is the core re-useable ? Also, if you have to have rubber on the outside you're still creating toxins in the environment. I'm not sure about this product.
Pretty sure they still need rubber on the outside, and the prototype of such tyre is not even done yet. They had the audacity to value their company at 20 million dollars at such early stage, that's just crazy.
I bet these guys are ‘tired’ of hearing they have an ‘overinflated’ evaluation. Thanks for the video.
Underrated
Well that's what you get when your business plan/execution fails to have the rubber meet the road. :)
The Sharks would have understood the business if these two men knew how to explain it.
as a cyclist I have to say for cheapest road tire for road bicycle you have to pay around 10-30$ while going from 30-100$ you're already getting premium product and anything above 100$ is checking all boxes in cycling world
2.5-3k wheelset is a no go especially considering the weight
The feedback we've consistently gotten from cyclists is that a $100-$150 tire that lasts multiple years and never has flats is a very fair price. Wheelsets already routinely cost that much - all of that price point is in delivering an integrated set for those that want it.
Love him or hate him, but mr.wonderfull is always entertaining and funny..💥
Legend has the sharks are still waiting to hear the business plan…
Kev's 'Anger management' 🤣🤣🤣
I miss the Savage old Kevin comments on this one 😂
I don't get it. The rubber will wear at the same rate despite the internal armature. Who would spend 4x on a tire that will never go flat, but lasts the same as a conventional tire?
Old Kevin would’ve ripped them a new one 😂
I don't think many people will pay that much cost for tyres. Sometimes being too much Premium is not good
"no I shouldn't say that" good on you, Kevin!
who suggested anger management classes to Kevin is dead to me
😂
If there coated in rubber do the tires get re covered in new rubber after wear or do u junk all that and then buy more tires?
It's crazy there was no mention to how it behaves, I just can't imagine this would work anything like a traditional tire in real world conditions. Would be really curious about the weight because $3000 for a wheelset is by no means crazy in the competitive cycling market.
I have never in my life heard a pitch, more so than this one, that just screamed "Barbara is out"
Love the product. Love the vision. No real plan to execute. Price point is way to high. No one is goin to pay 2k for a bicycle tire unless maybe they are in the Tour de France and that’s a maybe. 1,500 to 2k for a full set of truck tires, maybe but it sounded like they would be closer to 4-10k
If they sold it to mountain bikers and guaranteed a few grams less per wheel they would sell pretty well haha, mountain bikers will buy anything if it'll save some weight.
--mountain biker
@@GeddyRC
Mountain Biker here ride roads & trails, you're 100% wrong. Price is always a factor to anyone. No one will pay $2,500+ for that. Unless you're pro.
Wheelsets routinely go for that and more. Unfortunately the Sharks were so eager to talk over us and criticize the price, they completely failed to understand the difference between a carbon fiber wheelset (commonly $2k-$3k without any tire at all), and a tire (which we'll be selling for $100-$150).
@@thesmarttirecompany y’all didn’t explain yourself thoroughly, y’all were going around in circles with your answers. 🫤 So unfortunately, it was y’alls fault.
@@carladakotafranco2056 you'd be shocked how much doesn't make it into the TV episode, but it's all good! Can't win them all and we appreciated the opportunity with the sharks.
had me at the "serial entrepreneur" 4:25
love mark and Kevin the only two who actually give advice to people instead of saying it’s just not for them and they are out like Lori.
Maybe they did but it just wasn't shown or edited in
But here’s another issue they didn’t explain, if their tires are going to NEED rubber wrapped around it to work no matter what, then what happens when the tread runs out and goes bald? You might not have to worry about another flat again, but unless you’re using invincible rubber, the tread WILL go bald, so you’ll still have to replace that tire in some fashion. Then there’s the question of how to replace just the tread on a space material tire base, how much that will cost to replace, how many tire manufacturers have it available, how many tire manufacturers even know how to perform such a procedure, do we not have to worry about the question I have at all because in all actuality it will come sold pre wrapped in rubber so all you have to do is just ask for a smart tire and they put it on your car and rims like normal etc… The sharks were right, there are so many unanswered questions and it makes me angry just thinking about it.
Seriously. NASA needs these because there's noone in Mars to fill a flat. Here on Earth, I can use a hand pump no problem.
@@jason_v12345 lol NASA was laughing when they gave these guys licensing
I just love when people try to fix a problem that doesn’t exist. And then for cars and being competing against high end performance tires there’s literally no shot. For performance tires everything comes down to the rubber compound, the side wall, and the nitrogen (yes nitrogen) in the tire for air pressure… and mostly being able to adjust that air pressure for track or driving conditions.
Exactly. For a bike the tyre has a small contact patch and for most bikes its all the suspension you have. Car’s are another level of performance, noise, comfort, durability.
The big players have spent Billions on R&D on run flats and haven’t nailed it yet.
Not to mention all the different types of sizes of tires the company has to make for the public...there are tons of different heights, widths of tires and they need to cover with rubber anyways!! The whole concept is it won't go flat..I literally had 1 flat tire my whole life and filled it up with air for 1.00. Most consumers arent going to have tons of flat tires frequently. I don't see the relevance of this product from a purpose, utilitarian and cost perspective.
@andreroestenberg6313 One flat only! You're very fortunate. Someone in my family is getting a flat like once a year, or at least a slow leak. I would love something like this but they need to figure out the rubber part.
When Barbara is the last shark you know you screwed lol
They seemed too focused on just raising money. Their only achievement seemed the equity crowd funding. Just like the sharks pointed out they have not executed anything at all.
6:00 Kevin: "are they going to be 5x the price of a regular tire?"
Brian: "no they won't be 5x"... lol. It's like 2500x
lol
Even with a reasonable valuation they have an idea, not a business. Was impressed by Kevin Harts line of questions though, the guy clearly is very smart
Let’s be honest, he’ll need a lot more of those classes 😂
From survivor to shark tank entrepreneur
Wonderful how mr wonderful wanders around valuations
One thing that they didn't ask was what happens when the rubber wears out? You buy a whole new set, or do you just replace the rubber? If the rubber is just replaced, then that premium is only paid at the being and just just pay what it costs to replace the rubber. If that's the case, I think that business can work. You have a tire that will never go flat, and you just worry about the wear and tear.
Barbara: “I don’t use tires so I’m out”
I was hopeful Barbra was going to say “I’m in”😂
In the end he said "we are gonna raise lot of money", exactly the problem here, he is just trying to raise money after money instead of making a viable product and going to market.
Money is needed to build hardware. We are now well funded beyond what was asked on Shark Tank, and in the late stages of product development.
Great tech but outer layer still rubber means it is still going to wear out and be replaced at higher cost.
The way they are chopping off catalytic converters, they would be stealing tires left and right. You could not even lock your bike up if you had them on a bike. Tires come off so easy with a wrench. What about the wear and tare on the road or floors? And the cherry on top!!! They drive in on a scooter and a bike with rubber tires...That says it all.
$2500 for an everlasting wheelset is a reasonable price, just check out the prices for road bikes wheel sets, so many more expensive tires in the market
that's DEFINITELY the dude from Survivor, right? I'm surprised that didn't come up at all 🤷♂️
they did not prepare well at all
The frustrating part is that every shark asks different questions and they don't even get the time to respond. Then mr Cowboy comes out complaining when they're just answering someone else’s question.
The look on Kevin ls face 😂
And this is why it’s essential to hire a professional sales/marketing guy to your business
supposedly they have 100's of customers ready to go when they get production up
This is not about the "waiting list". It's about how they're going to run the service to meet the 600.
"Anger management, Anger management" 😂😂😂😂" im out" took me out 😂😂😂😂😂
They were too in love with the NASA connection.
I knew they were screwed when Barbara was the last person to be out.
It's nice to see Kevin O'Leary working on himself with the anger management. Good for him.
4:28 Kevin: you're not astronaut 😅😅
That’s the first time I’ve ever heard Mr Wonderful hold back lol
Some viewers think Kevin was too soft on them, but listen again it was brutal.
Update...
The Smart Tire had a valuation of USD 87.48 billion in 2022 and is projected to attain a value of USD 161.91 billion by 2030, with an anticipated compound annual growth rate Compound Annual Growth Rate, (CAGR) of 8% from 2023 to 2030.
If you research The Smart Tire, a lot of great things are written about, and the prediction for these new reinvented and innovative Tires for all cars around the world.
One or two of the sharks should've gone along for the ride.
Valuation according to whom?
And I still can't buy their product yet.
Ask Elizabeth Holmes about valuation, she will have plenty to say.
10:15 if they just said everything from start to end and spoked clear from the start, I think they would easy get a higher chance for an offer
Imagine Barabara giving an offer at the end.
The space suit started to look dumb as the video progressed
Nobody noticed that the weight of the wheel will be increased and every additional pound per wheel is a big deal on performance of the car: braking, handling and even acceleration (rotational power, that’s why light weight wheels is a big deal)
Actually, they are lighter overall. Titanium scales really well compared to thick rubber sidewalls, cords & steel reinforcements.
Kevin is so funny, "how much does it cost to make that thing?" lol
Were they waiting for an invitation to mention the “waiting list of 6000 customers”? 😂
The issue is that these tires still need to be replaced just as often as any other tire. Unless they have some patent on a special tread ware technology, these only help prevent against flats, and nothing else.
get a run flat tire lol
Re-treading tires has been around already as a way to recycle old tires
Towards the end of the video Mr wonderful gave some good advice before popping off😂😅
Mark always so dramatic looks like he’s always enraged 😂
In my opinion, I like normal tires better. Like if your bike wheel goes flat, super easy to pump up
9:07 Kevin holds back a death threat
They most expensive performance tire that everyone uses is Toyo r888r and it cost about 450$ a tire. 800 a tire is insane.
Fellow car enthusiast right here!
This is not our first market (but we answered the question). That said, truck tires can easily cost in the thousands, especially on long haul trailers.
Barbra: he wasn't actually a astronaut so for those reasons I'm out.
I respect the fact that Kevin stopped himself from being unnecessarily rude.
Earl Cole from Survivor.
That’s what I said when I first watched this
knew straight away and then it showed their names. Amazed no other comments mention his Survivor background
Lookin good Earl! Barely aged a day since your Survivor win lol
In the end they could change the world like they said. But now is not the time and the sharks realize that. Making a tire that never ever goes flat will put all competitor's out of business and make a monopoly for the industry but also in the long run put your own company out of business due to no more demand in tires. So good idea but for when flying cars are readily accessible to everyone and road cars are a luxury
Outstanding knowledge....
Love from India shark tank ....❤❤❤❤
Literally re-inventing the wheel. I wish them much luck
The technology is amazing, commercialize it, bring the cost down and prove the sharks wrong!!
Kevin Heart actually really conducted himself well and made a very good point!
Yeah there were some INSANE valuations this season 😂 alot of laughs from the sharks
It’s a great idea, but they are really starting out. I wouldn’t be surprised if they actually grow thsi in a couple of years and we see them having the first or one of the first companies producing airless tires.
They have so much growth. They are worth millions now
Kevin Heart shakes his head because he's clueless, as do I. 😂 Just smile and nod, smile and nod.
Kevin Hart is richer than everyone there except cuban
First they say something bad about rubber then introduce new material that apparently need rubber to function so in the end it substitute air in the wheel not the rubber
I would pay $150 for my tires to never go flat
Earl survived fiji, but couldnt survive the sharks
The Tire may never go flat but after so many miles you have to replace the rubber and how much is that ?
The idea of licensing to existing tire manufacturers is great!
They already sell a set of bike tires and rims for 1700 dollars. They would be cheaper than the top tier bike tires. Front and rear DRIFT wheels built with Classified Powershift rear hub shell and front hub
Powershift Kit, disc rotors/lockrings/thru axles not included
Padded double wheel bag
Pre-installed 27mm tubeless rim tape
Pre-installed 50mm tubeless valves
$1699.00 Ad said "last one".
If you make it to Shark Tank you're either already succeeding or they just want to make fun of you.
Kevin hart just looks so out of his element it’s almost hilarious lol
Humphry Davy
The arc lamp did in fact produce visible light contained in a bulb, and since it debuted in 1806, Davy's invention beat Edison's by over seven decades.
Kevin always has that face that you already know someone's getting an, "I'm out!" 😂
Once it got to Barbara.. they knew they were going home without a deal.