Submarines Ignite Full Blown Financial War | Dragons' Den

[@fredbloggs8369]

They got the pitch entirely wrong. What they should have mentioned was the cocaine carrying capacity of their submersibles, which would have guaranteed a lucrative Colombian profit stream.

[@magix4152]

@Epoch plus5 good luck spotting that Thing 300 meters under The water lul

[@heidi9583]

Lol

[@magix4152]

@Epoch plus5 ah

[@federicosantoro7100]

Ahahahahahahahahaha

[@martinraxyz]

fred bloggs 😂😂😂😂😂

[@abdullahkhatib1464]

The problem is engineers are actually smart but hesitant to make promises they can't keep. Finance people are confident idiots.

[@amaze2n]

Depends on the individual in both cases. Engineering is an exact discipline, finance isn't. It is practically impossible to come up with a truly accurate valuation, estimation and guesswork are inevitable parts of the process. Imagine a much younger Jeff Bezos pitching his new online bookshop to the dragons. Would they have negotiated a deal? There's a lot of risk there, nobody knew it was going to be worth billions.

[@carboy101]

This the most honest thing that have ever been said on the internet.

[@godzillas6301]

I agree .... but they got the finances wrong even so . 10 subs at 600 costing 350 to make means 2.5 million potential total assets post investment . A 1.5 investment at 45% which creates assets worth 1.2 means it would lose money until year 5 . If at year 5 they sold a further 4 the dragon would have all their cash back and a further 400 grand . This is without a further reconsideration of what they are selling . If its a viable purchase with bispoke fitting to boats theres yet more money to be had from this . Not only this but if the product is better than the comp and yet 25% cheaper it would take nothing to pitch it higher not lower which would not impact on the sales figures but could or would return the investment within year 3 . All of these people are in a position to know personnaly there customer base ..... I think they made a mistake .

[@lulsenpai6450]

Cope

[@medley4480]

As someone who double majored in biology and chemistry, that’s now studying a masters in finance I can, with 0.05 uncertainty, certify this is accurate

[@ekay-]

Everyone: *trying to be civil* Duncan: WOT ASSETS WOT ASSETS WOT ASSETS WOT ASSETS

[@Drenwickification]

I do miss him though. Dragons den isn’t the same without him

[@edmonddantes4705]

You missed one WOT ASSETS :))

[@gerardford9706]

"im oot"

[@relixentity7655]

Duncan: “WHAT ASSETS! WHAT ASSETS! WHAT ASSETS! WHAT ASSETS!” Theo: proceeds to throw temper tantrum

[@jackhoward10]

@@relixentity7655 I'm really disappointed in the camera angle of his temper tantrum. When he first laughs, you can hear him stamping his feet on the floor so I really wish the angle was from the front, imagine how funny that would have looked

[@rememberthisnameslut]

WHAT ASSETS? WHAT ASSETS? WHAT ASSETS? WHAT ASSETS? WHAT ASSETS? WHAT ASSETS? WHAT ASSETS? WHAT ASSETS? WHAT ASSETS? WHAT ASSETS? WHAT ASSETS? WHAT ASSETS? WHAT ASSETS? WHAT ASSETS? WHAT ASSETS? WHAT ASSETS? YE DIDN'T ALLOW ME TO FINISH

[@andreapasqua8639]

I thought it sounded like what arses.

[@domlipski5226]

Fun Fact: If you run a successful brothel, arses=assets.

[@andreapasqua8639]

Unlike Jenny or in the US Barbara I'm in!

[@ToxicatedLum]

YE KNOW WHAT?! ME AND DONKEE ARE ASSESS!

[@DrAmir0078]

Scottish Accent where English in heaven 1000s years ago

[@gunsgiftsgalleries7711]

This was unquestionably the best Dragons Den lineup ever. The 5 best dragons.

[@roybatty9663]

Agreed. Every one of them have a certain personality and know what they're talking about.

[@LuTeMaJac]

i’d swap james for touker tbh my fav 5

[@rememberthisnameslut]

I'd maybe trade out James Caan for Sarah Willingham. My brain isnt really the thing making that decision though ❤

[@feagojr]

I like Tej. Theres just something about his calmness in the den. Miss seeing Duncan grill people though.

[@JasonX2]

I'd drop Deborah for Doug Richard but otherwise great

[@jumpjimmy]

no one : duncan : WHAAA ASSESTS!!!!!!!!!!!!

[@dionysos8326]

WHAT ASSETS WHA ASSETS WHA ASSES WAH ASSES WAHSSES WHASSES

[@ahmedtamer3427]

He's a big dummy

[@jkaninipot9840]

😂😂😂

[@A1M8E7]

WHAT ASSETS......”initial investment”......you didn’t let me finish

[@thealien_ali3382]

I like ponies

[@asimsparks]

I worked in Marine industry for more than 20 years. If their sub does what they claim it does, and they have manufacturing capacity, then there is a massive potential. This sub could sell in 100's every year. These guys would be better off looking to collaborate with medium size boat builders and marine engineering type of companies. These dragon's have no idea about how anything works outside household retail goods market.

[@donramanayake1505]

Absolutely! The dragons are just waiting to find goods to line the shelves of retail stores. What a shame.

[@forthfarean]

Yes. There must be several such companies. They might want a lot of equity though.

[@bakersmileyface]

Well that's their fault for not pitching the product correctly. Can't pin that on the dragons. They only know as much as the entrepreneurs tell them half of the time.

[@Black182heart]

@@donramanayake1505 its there money and their wish where they want to put their money on. As an entrepreneur you don't just jump into investment just because the product is promising.

[@prathapsankar007]

Sharks atleast made few investments in millions.But I think the dragons are poor

[@youssefelkamash111]

Theo: “Your numbers are wrong” Duncan: “FORR FREEDOOOMMM”

[@andreasv9472]

underrated

[@nitinmohanty7525]

I enjoyed this one

[@BenjaminGoose]

@@andreasv9472 based

[@Hannodb1961]

I don't get it. So these guys just told them, they're engineers, not business people. But, they're selling 45% of their business, which means they'll bring in the business savvy of the dragons. So, what exactly is the problem?

[@ishraknawal1401]

They just don't want to invest such a large amount XD Hence the excuses. I think Peter was probably the only honest person.

[@annalambed5184]

The thing as an investor is when they invest 1.5 million in a business with “zero revenue” for two years after investment and the next two years with projected numbers. They just can’t. Someone must be crazy or generous or a visionary to invest in the business. Not angel investors.

[@AkshaySinghJamwal]

1.5 million pounds is too large a bet on 2 guys that don't have straight answers for when a company will be profitable.

[@thedude3288]

the problem is its a market none of the dragons know about and the people doing the pitch don't seem to know enough to make it sound appealing either. we with the benefit of internet and youtube comments know that their number of 10 over the course of 5 years is MUCH lower than what they actually can do. this thing if it does what they say it does is GOLD.

[@HamadKiani]

@@annalambed5184 They are not 'angel' investors. They are simply 'vulture' capitalists.

[@TwiceBorn369]

Duncan had a Glaswegian flashback, sizing up Theo for a headbutt...

[@Tranc_]

😂😂😂😂😂

[@Stu-SB]

And a pokey hat right in the face

[@robink9861]

No, no, no, it'd be a Glasgow smile. Duncan isn't a very kissy kinda guy.

[@casiopistachio1107]

Wot assets mate

[@neelzen9975]

I'd invest in them. They seem smart and humble enough to admit what they dont know

[@dannyflint5746]

Would you invest 1.4 million tho?

[@TheStickyDynamite]

@@dannyflint5746 I would've because there was a letter of intent for 10 units. Also the company is worth 410 million now so they've made it as far as I'm concerned.

[@yusufpatel5519]

@@TheStickyDynamite what dyu have a website or anything that shows this

[@hmst2434]

@@TheStickyDynamite Don’t know where you got that information from. Companies House reported that they currently have a net worth of -£90,000.

[@mfoco1]

Ignorance has no ROI. They should have had competent management already in-place.

[@HighTen_Melanie]

1.51. Peter Jones: “Yeah Baby!” 😂 😂 😂

[@MCFC111]

Lol

[@Nautilus1972]

The dragons are clueless, these guys admitted they need business acumen added. Dragons go "you don't understand business .. I'm out"

[@rossi6113]

The dragons are clueless?? Yes son - EXTREMELY RICH clueless. Dont be ridiculous.

[@japie8466]

Would you give 1,5m to some guys who financially have no idea what they are doing? Enormous financial risk. It's for a minority stake in the business, so you can't decide what they are going to do with it.

[@liamwalton4183]

They dont want to have to spend all their time on each investment they make. It's just that. An investment. The extra contacts and help that comes with it is voluntary from the dragons own time. Investing 1.5M would mean you have to spend all your time and effort on that specific business to make sure you profit. Meaning less time on their other businesses and stuff

[@JorgelCrisp]

They aren’t there to run the business for them, only to offer insight. It’s one think to go in needing a helping hand, it’s another expecting them to put in the lions share of the effort whilst you reap the rewards.

[@iamsofaking6728]

a big, big part of business is the skill, talent and knowledge of grade A bullshit. These two men don't have that. It's not their faults, they're not businessmen. But bullshit is 25% of negotiation and getting what you need to your business. If they cannot execute a decent level of bullshit, spoken with confidence, the risk of the business's failure increases.

[@ashleelmb]

I find it really irritating when the Dragons pick apart the business acumen of people who have created a fantastic product because if they were good at the business side of things, half of them wouldn't be in the den asking for help from a dragon, yet the dragons want business experts as well as inventors of a fantastic product. It's a bit too much to expect sometimes.

[@bigbig83uk]

Business is all about contacts. This is what the dragons can provide. They open doors

[@ahmedtamer3427]

The ego takes place they don't like to work for anyone they just look for people working for them and they get they rest

[@willho4202]

ashleelmb I think they issue with this was the sheer amount of money they wanted. If it was a smaller amount of money for a smaller equity percentage then I’m sure they would have put offers in.

[@davidmcrae4791]

It's because they were asking for 1.4m. the dragons want to feel confidence when taking such a big risk.

[@tonydarcy7475]

Their investors, not babysitters. They probably have hundreds of different investments so they need entrepreneurs who can take care of the day to day tasks. They only want to be involved at the strategic level.

[@axeman14]

James was the classiest Dragon in my opinion. Very calm and polite but still with a strong character.

[@Gonken88]

Whaaat? Tried to buy a child ffs.

[@ToxCcc]

Too bad everything isn't how it seems in the Den in real life according to Sharon Wright's investment he never paid up and when did it was just a loan.

[@leesmith9299]

5:49 here the fella say they'd still have the 2 vehicles. That's them demonstrating that they see the flaw in Duncan's argument. So the other dragons are wrong when they say they should be robust. They were. They just did not scream and shout like the so called titans of business.

[@ekramehsas6948]

James Caan could actually be my favourite dragon. He's so respectful, calm and composed. Great character

[@archmpreyes]

James Caan? His name is also James Caan?

[@louisemagill8295]

He is not a very nice man at all www.bmmagazine.co.uk/news/they-are-not-called-dragons-for-nothing-sharp-practice-in-the-den-exposed/

[@jf1341]

@@louisemagill8295 OMG he's such a smooth talker on the den, one would never believe that. He's a terrible guy, hope BBC is made aware and ensure he is never back.

[@niallg3551]

Apart from when he offered £725 to a family who were victims of the Pakistani floods in 2010 to buy their baby boy for his own brother.

[@michaelxz1305]

It's the Pakistani version, James Kahn but it cracks me up every time I hear his name

[@Nautilus1972]

They should have approached the US military .. and south american drug cartels.

[@iamdanyboy1]

@bitterman co the selling point is the cost . Not the advancement itself. Especially that smaller version that could very easily look like a recon piece underwater.

[@rejuvenatingsoul3498]

US military would rip their design off and just hand it over to an American company. Drug cartels seem more viable, and profitable in that manner.

[@nake89]

Playing both sides. I like it! :D

[@MrRilarios]

@@rejuvenatingsoul3498 agree here in Colombia there have been a Lot of submarines that have been cauhht with waaaay less engineering than that. They could probably sell 50 of them

[@rickysmyth]

They are too good for that use. Drug smugglers scuttle them once they reach their destination in order to destroy evidence. Normally they go by boat as if they are caught they can dump their cargo overboard. Its the same with pirates; when caught they throw their guns and ladder into the sea to destroy evidence

[@Asif24960]

Who’s here after Ocean Gate?

[@msadraei]

Lol😂

[@DMG118]

I like how he gets more Scottish sounding the more angry he gets

[@anushmohan7527]

07:55 Theo flailing about is why I'll continue to watch this show!

[@adamweisshaup]

I hope their subs handle pressure better than they do!

[@daimyo1178]

ahahahaha lmao

[@mammadfy]

Well said!

[@fernandomigliazza685]

I hope that there is any leaking part

[@scottywills124]

Duncan torpedoed the pitch.

[@B888-h2o]

LOL

[@KeithApp]

I love it so much when the dragons argue amongst themselves. It shows how authentic this is. Great TV. I miss Duncan and James.

[@d3l3tes00n]

It's heavily edited.

[@bekindtoanimals2189]

They were breathing fire!

[@kurosakiichigo7475]

​@@d3l3tes00nhe meant authentic in terms of not being scripted

[@deschim9034]

Duncan: WOT ASSETS?? WOT ASSETS? Also Duncan: anyway you didnt let me finish speaking, i was about to mentions those assets.

[@GHOSTBOT-Stake]

I love how Duncan got called out for is error in his calculations then tries to say he was interrupted before he finished... Total liar! No one interrupted him. All that money and power yet he still isn't humble enough to admit he was wrong or maybe missed something. THAT is the trait of a weasel not a dragon.

[@cd9759]

I think he realised he was wrong and tried to turn it 😂 tbh thats what id do you could see he was smirking at the end maybe its a scottish thing 😂

[@joshevans3530]

Mike Akin he’s the best dragon

[@GHOSTBOT-Stake]

@@joshevans3530 no doubt he is very entertaining to watch. He always reminds me of like that classic James Bond snooty rich villain.. Lol. I think Peter is the best dragon!

[@NitronNeutron]

Could just be the editing.

[@willho4202]

Mike Akin I love watching him argue cause his Scottish side comes out 😂

[@EverthingsApple]

"Guy, but the problem is, you don't know what you're talking about" LMAO

[@MCFC111]

Holly 💩, Kaan, killed them!!

[@ZombieSazza]

1:51 Peter “yeah baby” 7:20 Duncan “what assets”

[@BobGnarley.]

Peter thinks he's Austin powers

[@iDreamOfOkra]

Wow, Theo "the Fetus" sure threw a baby tantrum there! LOL

[@D-Ry]

Duncan and Theo going at it had me dying 😂

[@carolmorris404]

I had to rewind it 3 times to actually hear what they were saying because I was literally peeing myself laughing 😂🤣😂🤣

[@D-Ry]

Carol Morris I KNOW! As soon as Duncan started yelling I was like “whoa I understand him a lot more better” 😂😂

[@1BeGe]

"What can you do to make me see there's substance behind this pitch" he says to the guys that literally have a SUBMARINE behind them.

[@ozzydoop1473]

SUB .... STANCE ...

[@Tony_7791]

Jenny sitting in front of the telly: If i was there, i'm out.

[@bobble5924]

Love how James is always so calm he's just chillin

[@sidsherpa6417]

I like his "why bother" attitude.

[@thegentlemanjay]

With a submarine, they never expected their pitch to sink so badly 😬

[@Holdit66]

Every time I hear "James Caan" on this show I'm expecting the camera to cut to Sonny Corleone.

[@comicbookdude]

Underrated comment

[@Starlight-iw9gx]

Im my opinion, the dragons just looked for an excuse to bail cause they were asking for £1.45m. What matters is the design, the build, the value and the demand for it. Whether or not these engineers can memorise every financial detail isn't going to stop them in their tracks - they can easily swot up and learn a bit of accounting...

[@thesecopsgroup]

That's debra mention. And as a business it should be there. As per my experience, I have seen how do investers are good in numbers.

[@wdklabs]

Yeah 1,4m was too much for them

[@TomorrowWeLive]

Finally found the source of the famous WHA ASSES? clip

[@appleratpipe]

MOSLEY LIVES ON ETERNALLY

[@gamewithadam7235]

Haha same.

[@MCFC111]

Lol!

[@Peakprospr420]

"We can continue" Duncan: Im Out

[@daskanguru140]

Lol, Duncan going full on Scottish 😂

[@philthyw]

Hopefully they don’t use it to go explore the titanic

[@geoffm9944]

These two engineers were right to be cautious about making promises to the dragons. They were totally honest. They came into the den wanting financial and business expertise to take their company forward. Instead they were ridiculed for their lack of business acumen, but they never claimed they were smart business people! James Caan’s brutal comment that they ‘didn’t know what they were talking about ‘was not only unjustified but wrong. From an engineering point of view they did know what they were talking about! Their concept is brilliant! They were also honest and transparent with their figures! That’s the problem with this show. It sometimes doesn’t capitalise on really good idea. I believe that these two engineers gave a good account of themselves but the dragons sadly misjudged them and hence missed a great opportunity to invest in an exciting and innovative new product!

[@scienceevolves4417]

So then why haven't they sold any to date or fulfiled any orders to date?

[@sujitsharma4346]

So engineers are supposed to be business sharks according to the dragons. Isn't that what the dragons are for?

[@calvingunhyeokyim7063]

Nope. The dragons are investors. If they dont have knowledge of business tactics, then that's a huge red flag.

[@andrewherbert5730]

Yes. Or at least recognize they have a skill gap and find someone to join them who has business acumen

[@calvingunhyeokyim7063]

@TIGERWOODSBOYFRIEND You realize that the pitches are usually hours long except they get cut down. Also, that's exactly why they wont partner up with them. Ever. Each of them sitting on that chair can hire hundred if engineers if they wanted to. What they wanted was a strategic business partner with a clear goal. They said it themselves that they won't be profitable until the 3rd year and their orders are NOT guaranteed. This is a HUGE liability and it's a gamble. They have no sales either. On top of that, they know nothing about business.

[@intrepidtomato]

@@calvingunhyeokyim7063 "Hundreds of engineers" shows just the difference of knowledge between business people and engineers. These two guys improved on existing technology and saw a gap in the market. Hugely valuable, something none of these suits can do. You don't come up with such an idea by throwing money at a random herd of engineers. They should go to a more technoloy savvy group of venture capitalists.

[@calvingunhyeokyim7063]

@@intrepidtomato They "improved the technology" by making the cost cheaper. Any competitor can swoop in and make their cost more competitive or cheap. There wasn't a "gap" In the market when you don't have organizations lined up to use your product.

[@saifckret7391]

I really don't know how I can stop watching this show. Amazing

[@LaJin9292]

My first question as an investor would be asking them if there is even a regulations field for privately owned submersibles. I'd ask for full documentation on this machine having passed safety regulations for submersibles and then inquire as to whether it's even possible to just simply own a small sub and use it the same way as you'd do with a small plane or a small boat. There may be a field of regulations for this but I never heard of such.

[@milesdoodling1054]

When Deborah jumped in the argument I was like YES DEBORAH!

[@caldo1727]

Jeff Bezos : I offer you 100% of amazon for 1p Jenny : I’m out

[@CupidStunt72]

Lol.

[@oxymoron02]

These jokes are so pathetic.

[@Jeric-gq7pr]

They should take customers on trips. Like selling an hour on the ocean floor for a few grand

[@KorriTimigan]

Yeah that's the idea, they need funding to manufacture the subs.

[@2Orangess]

I think that'd be the next step. For now they have to focus up on making the cost-effective version and then take a bunch of people down the sea with their own subs and then sell them too.

[@tonydarcy7475]

KorriTimigan They said they already have one that they use for demos, so that could easily be used for trips.

[@Chevsilverado]

I’d expect that their demo craft isn’t the most reliable version that they could make. I’d bet that it’s the first time craft they have put together fully and the money from the dragons would likely go towards extensive testing and revision to create a more reliable craft for tours or selling. If someone sold tours in a prototype car that has been designed from the ground up from a company that hasn’t made a full production car before I’m sure that car would be breaking down every tour. I wouldn’t want to be 300m down if something bad happens.

[@TheEsotericProgrammer]

This aged terribly

[@sophiefwt4036]

While they were climbing in the machine I would have just grabbed the cash n ran

[@Jasper-Holland]

You know the money is fake right

[@sophiefwt4036]

@@Jasper-Holland I did not know that. I thought it was bate af hahahah

[@iz723]

Yeah, no security cams at all... Oh wait

[@FleurCoutureFloral]

And leave your sub behind 🤔😅

[@deviny]

Sophie fwt even if it was real cash it's only like £10,000 at the very max. Meanwhile they're leaving their £600,000 submarine behind

[@LeadsTheFallen]

@7:54 when the family come round at christmas and we play a board game

[@VENAXIS]

Lmfao

[@MCFC111]

Lol

[@MetalGod-id8st]

The problem is if someone do come with the confidence, they get called out for it.

[@bakersmileyface]

Why is that a problem? They're investors. They're supposed to be doing everything they can to put the pressure on the entrepreneurs to see how they cope and to tear open any holes in their pitches. What did you expect? Them to say "Oh you've got confidence, I'm going to give you my money" No. That's not how it works.

[@SmokeyEdits]

"Love water, love boats, love eveything else..." Jesus Theo you're higher than I am.

[@longstandingemperor5009]

The pitch was flawed because they were only talking about sales when there are massive tourist opportunities as well as the homeland security potentials. Duncan was wrong in his valuation. I’ve noticed that Dragons hardly invest in pitches requiring huge amounts

[@hugo13231]

They're not billionaires, anything over 1mill is a significant investment for them. I once heard peter say he had about 10 mill in the bank, which would suggest a net worth in the waters of 100 mill.

[@svampebob007]

@@hugo13231 10 million pounds is 4.6 billion Nigerian Niara, so obviously he's just a cheap ass billionaire.

[@BeachSamuraiStudios]

Dragons are poor bro

[@estoylaroca]

Of course. Investing millions in one company, is not only a loss of that million, but you also have to take into consideration that they could've invested that million in another company, to earn another million. And from the pitch, it seemed like it'd take a long time to earn that million back... if it ever will. I'm sure that this was a good invention... but you really have to know your numbers, or even hire spokesperson to pitch for a million dollar invention.

[@efosaakenbor2530]

It’s Naira not Niara

[@omaraamir2575]

No one: Peter Jones: YEAHHH BABYY

[@matthewwatts87]

Desperate for likes how-to: 1. Wait until dragons den reupload the same material for a 2nd time 2. Ctrl-c previous top comment 3. Ctrl-v into repost comment thread 4. Likes

[@jibberjabberr]

Matthew Classic

[@kdtjones]

"Why did you {nod} when Duncan assassinated your business model?" ... "Because Duncan once, very angrily, declared he was 'oot' after a pitcher pointed out his misinterpretation of a patent I was granted. Then the rest of you left claiming he isolated him and couldn't invest in someone who would do that to another dragon. Sometimes its easier to put your hands on someone's shoulder and say 'you have a good day mate' and walk away. Case in point, the way he just spat his dummy out when the rest of you pointed out his flawed financial understanding."

[@NassifKazan]

Jenny isn't in this pitch. For that reason, I'm out.

[@Nicolas-zb9uw]

Not enough for me !

[@thebaddestogre-3698]

She was out before out was cool.

[@Troublenut]

Nassif Kazan she left in a submarine!

[@Analoguejunk]

If you're leaving Nassif, I'll shout!

[@AlanaBananaCanada]

This comment doesnt even have 200 likes. I'm out

[@john3729]

8:07 Dragons shouting at each other Peter quietly in the back "you forgot 1.2"

[@SangTheCryptek]

Lmao the look the two guys give each other when the dragons start flipping out at each other. Almost like, "Dude I don't think we want any of them, they're nuts."

[@gureno19]

This is a live example of why car companies dont produce awesome vehicles! Accountants Vs Engineers.

[@turloughmc1]

Not the first time Duncan's been embarrassed by completely misunderstanding something and then getting aggressive when he's called out!

[@ThomasBaxter]

I do think the person who writes the blurbs for these videos is an under appreciated genius.

[@jake8217]

What I wanna know is, how the heck did they get that thing inside that room? Did they assemble the whole thing there or is that room lacking a wall somewhere?

[@jimsuniverse4954]

Its a sound stage. There are no "real" walls

[@tamlint9455]

@@jimsuniverse4954 really? It's not a warehouse?

[@fluffyhead6377]

It looks like an old industrial warehouse I’m sure there would be a massive entry point and crane system in place.

[@nomadicgrenada]

It's television lol. Here's a heads up for you, in the Caribbean its pronounced 'tell. Lie. Vision.' which is exactly what it does. Have you ever seen the 'other wall'?.

[@stewartboyle4910]

@@fluffyhead6377 its a TV studio lol

[@josh_wood_music]

I wish the narrator said ‘its looks like their lack of technology landed them in deep water’. That’s the sort of wordplay I have grown to expect from him

[@ozzydoop1473]

What SUB ... STANCE ...

[@MrLTiger]

This was the first pitch of the first episode of Dragon's den I ever watched actually, I got hooked instantly. That's a hell of an episode to start with!

[@Jamie_Winsh]

Certainly one of the coolest things to come into the den. That submarine looks awesome I would love to sit in it. It's a big project for the dragons to invest in, in cash and equity. I don't really understand what specifically the buisness is about and does

[@yesyes3010]

Huge risk, but the company now has a turnover of 10 mil. a year.

[@8964TS]

Dragon’s Den is primarily a place where entrepreneurs go to get investment for businesses they will themselves run. What these guys were after, and which was strongly implied by their willingness to make a dragon the largest shareholder, is a CEO. I get the feeling they don’t want to run the company, which is totally respectable but not really what the den is about. They want be the CTO and COO, handling the engineering and operations management, while the CEO does the financials and plans the strategy, etc. Nothing wrong with such a setup, but DD wasn’t the place to sort it. Hopefully someone watching realized this was an opportunity for them and got involved.

[@wrestlingkokichi]

I just have a strange feeling the private submarine business is going to implode on itself someday and for that reason I'm out

[@joshpascual7539]

45% Equity Debra: 0:18 ecstacy

[@raydaveyrd]

what i want to know is how they got that submarine up there.

[@Freemouse159]

Elevator.

[@Godsfavouriteidiot_]

I’m not sure that they are ‘up there’

[@festival3051]

@@Freemouse159 lmao

[@ohsnap401]

It's just a studio

[@deansmith4749]

Submarines can go up and down.........

[@relixentity7655]

Duncan: “WHAT ASSETS! WHAT ASSETS! WHAT ASSETS! WHAT ASSETS! Theo: proceeds to throw temper tantrum

[@brauntough9088]

I love that people from the UK are so honest, and straight forward...

[@TristanWeijermars]

They would definitely have gotten an investment if they would have arranged for the yellow submarine to open and Ringo Starr coming out singing.

[@szahmad2416]

Surprised no one said “I’ll buy you out” or “I’ll put my managers into the company, and you can continue to make the product”.

[@edwardness7497]

what I was thinking, "i'll front the money, but only on the condition I can hire a spokesperson for the business"

[@bakersmileyface]

£3 million is a hell of a lot of money even for them. That's supposing it doesn't sell higher. Along with the fees involved in buying them out. £3 million on an industry they know nothing about with a product they know nothing about, a lack of customers and business plan and on top of all of that they likely don't have the time to be putting on such a large purchase. Even if they put their managers into the company, the money they asked for and for only 45% is just not going to happen. The only way I could see the dragons making this investment is if these two guys nailed their pitch. But that pitch was terrible. So so bad.

[@afrodude4782]

The inner child in me was screaming in excitement when he revealed that submarine

[@Alexandru_Pinzaru]

It might be that their competition Ocean Gate might be out of business soon

[@felipemiranda2403]

The whole argument ended the moment Peter solidly stepped up with a brief example of financial accounting literacy.

[@blue24563]

But he was wrong because Duncan did account for the 1.2m

[@saints5056]

watching this after the oceangate incident is wild 😅

[@fund-brokertrade1137]

Duncan:What assets? (5 Times) I think Theo needs to explain what assests.

[@dwini00]

Despite what everyone is saying, I really thought this pitch was great. You could tell both gentleman were extremely educated within their field, and had come up with an amazing product that is far beyond competitors. Although the valuation may have been slightly off in terms of book value, the product has so much potential beyond selling 4 units in the third year. I believe there is a much larger market for this product than the dragons, and the entrepreneurs anticipated. That, with the business capabilities of the dragons being able to expand this company far beyond the engineers expectations, could have led them to make a lot more considering they were offered a 45% stake (which is quite high compared to most entrepreneurs who come in with really good products and offer an equity stake of 5%). Anyways, they’re the experts! Just my 2 cents...

[@mashimaro619]

The submarine reminded me of that sub in star wars with quigonjin and obiwan and quoted " there's always a bigger fish"

[@final_animal]

Duncan never admits when he's wrong lol, very annoying. There's an episode where he insists that someone can't possibly have patented what he claims and when Peter quotes him the patent, he just point blank refuses that it's correct.

[@Millennial_Mike]

Can it reach the Titanic ?

[@lasselasse5215]

It can if someone would bother lifting up Titanic to 30 m depth

[@Alex-cw3rz]

Duncan is a prime example of how the accumulation of wealth is 100% not a meritocracy.

[@foamyone101]

i'm not sure what a meritocracy is and for that reason i'm out

[@Gedfree]

Bit of an overstatement

[@Alex-cw3rz]

@@Gedfree not really

[@davidwhite2100]

As Engineers it is probably a bit overwhelming having to defend on the spot when numbers are being thrown at you by competent Dragons. It took the other experienced Dragons to fight their corner. They were clearly smart, intelligent, honest people. The dragons were entirely disrespectful to these guys and showed them zero grace because they want quick returns. On that occasion I would have told them stick their cheque books where the sun don’t shine.

[@nigelft]

That is a recurrent trait ... Very often people that come along, with an idea of a good, or service, that's on the cusp, but needs the right combination of extra seed money, marketing expertise, plus the contacts within the industry they are looking into, from essentially an iteration of a prototype, into something sellable ... ....whereas most Dragons are looking for something that has gone a fair bit into that, and want a ROI on their equity within 3 years, if not earlier; in other words, to invest in something that already sells, and in negotiations to sell even more: they (the Dragons) are only interested in the 'even more' stage, and rapid turnover ... it's their nature ... Hence should be called Scorpions' Nest, instead ...

[@gerardford9706]

I love how excited Peter got in the submarine 😂

[@wearenoless6732]

Was duncan not right tho ? How are they making 900K in the third year if they are spending 375K per submarine (*4) and selling it for 595K per submarine ?

[@geoffm9944]

The Dragons didn’t take into account that these two men were engineers, who were totally honest about their lack of ‘business acumen.’ Instead of seeing their enterprise as a great business opportunity, they tore them to bits. This wasn’t a professional way to judge and assess a business opportunity! Black mark for the Dragons!

[@sangun123]

a business with zero sales and only a prototype run by 2 people who dont have "business acumen" isn't even a business, it's an idea that they want the dragons to bring to life

[@AimForMyHead81]

​@sangun123 Even if it was a viable business, it's far beyond the dragon's realm of endeavours. These guys should have pitched to investors who actually specialise in stuff like marine engineering, ship building, etc. Not a bunch of snobs whose success is based entirely around home retail.

[@user-ki3ks4fd6i]

james is so civil compared to the other 4 dragons lol. never hear him yell or get upset

[@braydauman1254]

Absolutely

[@ernestocaro9802]

DRAGONS:"Let me tell you what I am" 7 words had never crush so many dreams...

[@muhammadamree1318]

lets be real. aint no one was going to invest in that business over a reality show. it was for a good episode aye

[@BronzeJamo90]

Oooh, love watching everyone fight

[@StoicAIYoutube]

John Miller 😂😂😂😂😂😂😂

[@ccgb92]

@@StoicAIKZbin LOL

[@ccgb92]

@@StoicAIKZbin username checks out ;D

[@StoicAIYoutube]

John Miller damn right😂💪

[@ccgb92]

@@StoicAIKZbin 😂😂😂👌😊

[@paulgibbons2320]

Duncan always tries to shout people down. Bet he's an arse to work for.

[@johnmc3862]

They would all be asses to work for. They have walked all over people to be where they are.

[@paulgibbons2320]

@@johnmc3862 agreed.

[@DownPro1]

The acrylic company competitor ? Was that Ocean gate

[@strontiumstargazer5096]

The dragons are out of their depth so have to rubbish the pitch to save face.

[@strontiumstargazer5096]

Alexander Abraham You know it wasn’t though I wish it was. Had to read your post a couple of times before a realised the pun.

[@bakersmileyface]

Be careful with those puns, the BBC might kidnap you and make you write their next episode.

[@darryl2542]

They torpedoed the pitch and sunk the entrepreneurs' spirits. But I think Robert and Guy should feel buoyed by the quality of their product. They were under pressure here, but I'm sure they'll find a way to keep their business afloat...as long as the design of their sub doesn't get leaked. ... Water.

[@Xplicid]

I just wanna know how it got in and up the lift 🧐🤪

[@dajay2k]

Too high to comprehend how

[@eugenetswong]

I'm sure that it wasn't inflated at the time of transport. :D

[@-The-Golden-God-]

Hang on, you think the elevator is real? 😮

[@Xplicid]

G Hammer ..... No. It’s obvious it’s filmed on the ground floor with a basement below

[@myleague90]

Theo: Its in assets. Duncan: WOT ASSES WOT ASSES WOT ASSES WOT ASSES

[@Forb-sh5uj]

Little did they anticipate the great fall in demand mid 2023

[@SamKBTrading]

Realistically, the dragons are usually investing 50k, 100k etc. Half of them probably aren’t liquid more than 10 mill, so whatever they want to say it just sounds like convenient excuses to protect their pride. Deborah in 10 years of the show has only invested 3.3mill total across 63 businesses… Is she really going to invest half of that in one go? Doubtful.

[@Persian-Immortal]

I wonder if the dragons would finance a Disney star wars movies.

[@RdwAyaz]

@4.14 is that the one using Logitech to steer the vessel?

[@ffinybryn]

My first question would be. "Can we all live in it?"