"The Whole Model Is Wrong" | Dragons' Den

Dragons aren't happy with this entrepreneur from Devon. He's seeking £200,000 for 10% of his business, Mamka, an e-commerce site.
An international sensation, Dragon's Den features entrepreneurs pitching for investment in the Den from our Dragons, five venture capitalists willing to invest their own money in exchange for equity.
#DragonsDen #BusinessPitch #Mamka

[@TomNook.]

This guy has the mentality of a politician/counsellor/marketer. "I've listened to you, I appreciate your point, but I'm right"

[@calsmyth4483]

In what regard? He agreed with a lot of what they said, proved some of their claims (i.e. software costs) wrong and gave reasonable arguments against some of their suggestions (turnkey retailing has many pitfalls, hence why most retailers don't use it). It seems like you're following the appeal to authority fallacy. I've noticed that a lot on this channel - a huge following on here are so impressed by their success that they just instantly believe anything they say is correct.

[@BB8enjoyer]

or a Kirby door2door salesman

[@brentfu1119]

You forgot psychopath.

[@stgeorge4559]

​@@calsmyth4483 did you watch it he didn't 😂😂😂

[@Asif-kh-n9r]

I love how this guy is polite and rude at the same time 😂

[@nachisuper]

From my perspective the guy was not polite at all. Mechanically saying "I appreciate your comments" and "I am listening to you" accomplishes nothing, it's just a facade. True appreciation and listening are actions you do. It's not enough to utter the words. And saying "thank you" is meaningless if you are rude, dismissive and insulting. It's all empty words -- and I don't mean it in the sense of accusing him of lying or deceiving or "not meaning those things", but rather, I point out his complete inability to listen to and onboard external input.

[@scienceevolves4417]

@@nachisuper hmmm 🤔 isn't that a british way of doing things? I can't tell you how many times I've heard that phrase of I'm sorry or thankyou with no intention behind it

[@webrevolution.]

I know little to nothing about his business or what he has achieved so I won't praise any of that but I don't find him being rude at all. He never used any rude words towards any of the investors. He just didn't want to change his mind and didn't want to listen and nod quietly when the dragons were telling him that his business is bad. That's not being rude imho. He just can't hold his mouth shut if others talk crap about his business like they did. Cause let's be honest here. None of the dragons really did constructive criticism, by telling him how he should solve the issue. All they did was blame him for having a business which isn't working and coming with that evaluation.

[@peaky237]

"I thank you for your time"

[@janinajochim1843]

I like that lady who looks like she's gonna come after my 100 Dalmatians

[@iancampbell9297]

Duncans laugh .. when Matthew tries to give peter business advice

[@avatar19971]

At this point I have to click like to all the videos I'm watching so I'll know what I've already seen. The addiction is unwavering.

[@hayden6383]

Imagine being in a relationship with someone who behaved like this every time you brought up an issue. Christ.

[@TomNook.]

I appreciate that you brought this up, I've listened to your comment, but it's too harsh and you're wrong.

[@ouroborostechnologies696]

Well the guy acted normally but worded it differently that could be portrayed negatively.

[@blipp3521]

@@TomNook. hahah! That was good👍

[@AwesometownUSA]

When I first read this, I thought you were saying that Christ was an example of somebody who you could be in a relationship with like this haha

[@SeanH1984]

This guy was absolutely spot on in his responses, particularly when Peter was recommending dropshipping. The minute you let the manufacturer or distributor look after everything you lose control. And when Hillary said he wouldn’t be able to make changes to the source code, he clearly has been able to customise it.

[@intrepidtomato]

I don't disagree that I wouldn't like the manufacturer etc to do the customer relations, but they have gone under since

[@kelmanl4]

​@@intrepidtomatoHe survived 10 years though even when facing the issues of amazon, ebay and sport direct eating away at his margins.

[@gundummies]

yes, but half a million worth of stocks is a ridiculous amount in ratio to his business

[@graceycatlady]

Yes, but his stock level is still high for an online retail business. He needs to take a look at his supply chain process and reorder points.

[@acenmitch1048]

When Peter is Asking The First About Your Valuation, You Know It’s Gonna Be A Long Day…

[@bmoney9330]

How Do You Write Like This With Every First Letter A Capital Letter?

[@hey5812]

@@bmoney9330 it's a bot, programmed in China

[@BenjaminGoose]

@@bmoney9330 It's the title of his latest book.

[@andrewroberts8139]

Mamka was dissolved in 2016, according to Companies House

[@EssentialParadox]

The guy now runs an arcade machine rental business

[@prizma45]

@@EssentialParadox avg blkpl

[@waffle_chair9269]

Maybe it sold and was dissolved to start a new company by the buyers no?

[@jonathanmarsh5021]

“Ahum…ahum….ahum” you just know when someone makes this noise, they’re up themselves.

[@Kris_Aalst]

10:12 "To negotiate I think I'd have to offer you 200,000 pound for 105% of the business" 🤣

[@sam08g16]

Imagine if the guy replied: "I accept it!"

[@rita8684]

that was a polite gorden ramsey saying ..i think you are all very silly......105%😊😊

[@amanmaheshwari6084]

For a business with 500,000$ of stock

[@AwesometownUSA]

Love the Kenny Powers hair-do

[@concrete542]

The amusing thing about this is that the bugger was right, just at the wrong time! The only companies that are now surviving are the ones with large stock holdings, supply chain problems have totally screwed the concept of drop shipping direct from manufacturers!

[@godlikesnake8909]

pre covid

[@gundummies]

yes, but half a million worth of stocks is a ridiculous amount in ratio to his business

[@diabolikalm]

So right… the company is now dissolved 👏

[@alexthehunted]

looking it up the company was Liquidated in 2016

[@Crispynuggets28]

What a suprise

[@chillywilly541]

No it wasn't, the website is still selling

[@ukamericanmusic6321]

@@chillywilly541 isit doing well?

[@bottlesbeer4622]

Matthew 'thank you for your time' Conridge..

[@NobodyInTraining]

The guy didn't listen, and neither did the dragons. What a pointless exchange from arrogant people.

[@michaelolson6982]

The dragons tried to explain this is a typically door shipping business and no stock required, his reply ,I not listening.

[@sugs1191]

I actually like this guy tbh.

[@SparrowFX23]

Why? He's a mug.

[@sugs1191]

​@@SparrowFX23he's hilarious

[@Technicallyimright]

To have to turnover £2mil to make £100,000 profit is shockingly bad. Especially since insurances etc are based on revenue and not profit. The sheer amount of admin reconciling that money for such little profit is unsustainable. Turnover is vanity. Profit is sanity.

[@pianistul21]

Have you checked the balance sheet to see how much salaries he paid and to who?

[@ThePrimeMinisterOfTheBlock]

It's all theoretical to you though, having never owned a business yourself.

[@ThePrimeMinisterOfTheBlock]

@@pianistul21 balance sheets do not record salaries paid, and no financial statements show who they were paid to. Good try though, you used business words in a coherent sentence, well done

[@TheMikster95]

Considering most startups take years to become profitable, is say his income is impressive, and at worst, the least of his worries

[@Technicallyimright]

@@TheMikster95 well they went busy after 10 years according to the company records. Running a profit margin of 5% is completely unsustainable.

[@BlackBoneNation]

So basically Amazon...

[@kevint1160]

When ppl comment that they are being harsh, well sometimes honesty is a tough mistress. I am not defending the Dragons but for ppl who have made millions, they definitely have made the same mistakes these people have made and see the folly of it.

[@nickpellatt]

I dont know much, but I see so many pitches where they show a net loss, and even project net loss going forward ... 100k profit sounds ok to me

[@kevint1160]

@@nickpellatt that's why they kinda told him he got a business for himself. But it is not investable.

[@jonathanc3570]

I feel like the dragons were tough from the beginning, they didn’t feel like being friendly lol

[@alexpegler465]

The exact kind of bloke you try and avoid at work.

[@ProTroll_UK]

I remember when he used to be in Neighbours.

[@boozypixels]

I bet his 20% 'vendor with discounts' shareholder has no problem filling this guy's warehouse with the crap they can't unload themselves

[@0deepak]

His mind is closed off like fort knox.

[@MarceloVolcato]

I looked for uninvestable in the dictionary and his picture showed up. LOL!

[@GennySavastone]

Dragons missed out on this deal, this guy took the stock of toysrus before they went downhill and all their designers, and manufacturing partners, built a warehouse in Guantanamo bay and have jihads working for him at a low cost. This year he made 789 billion pounds with a net profit of 5 quid

[@johnwest194]

that is too funny thank you

[@delanodegenie6970]

🤣🤣🤣

[@MrBooBeeDoo]

Prat.

[@factologyprofessor2869]

789 billion pounds😂😂😂. What are you smoking?

[@lickybombie7778]

🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣

[@blood_upon_the_rose]

The dragons were right his business folded

[@iranicus3393]

Essentially there is no USP, he just does things better than everyone else o.o

[@GirlycarDawn]

In his mind.

[@Sam-yr8ls]

If he didn't things better than everyone else, he wouldn't need the money 🤭

[@RydalS]

That's what I say to flat earthers: "your whole model is wrong!"

[@ifwecouldvote]

"It's a bit too flat! Needs some curves babay!"

[@abztractboxingandstuff8384]

It’s amazing, some of you are commenting that he was right. 5 experienced entrepreneurs worth hundreds of millions all disagreed, he went under and Peter Jones is now a billionaire. Listen to what you’re saying and if you still think you’re right, give your head a good shake.

[@Reebus_]

"Do you own the source key" surely that is source code...

[@brandonvernet]

Maybe she meant private key to the source code? Lol

[@WobblesandBean]

Source key is different than source code.

[@Zedaso]

How stubborn can you be? He thinks he's right and better than the people sat in front of him, doesn't he know who they are?

[@TheBlueCream]

people 'sitting' in front of him not 'sat'.

[@BenjaminGoose]

@@TheBlueCream It's "sat", you sap.

[@CelebrianUndomiel]

He has the most irritating personality imaginable. “Yes I see your point” etc etc, all empty fluff words just to come back around to “but I’m still right.”

[@TheJohnCooperShow]

Wasn’t nervy pitch

[@Alec_Reaper]

I always thought the shorter videos were the small segments from the show, didn't know this pitch was a full feature

[@PortlandMan]

What? This is standard length. Look through the channel they're all around this amount of time.

[@Alec_Reaper]

@@PortlandMan They used to upload shorter versions of pitches, this was in the playlist furious dragons, but I think they've deleted it when releasing this. The other version was 5 minutes long.

[@c.m.9369]

There is a time to argue and debate and a time to listen to advice. What this guy needs to do is develope a sense for when to argue and when to listen. Because even in the Den, the Dragons are sometimes ok with arguing and entrepreneurs defending their business... but you should be able to tell when the time has come to just listen to them for a moment and take in what they say.

[@readmycomment3157]

This guy is the original amazon fba seller/dropshipper.

[@CKD3332]

The Dragon's can be dicks sometimes, but you are there for an investment so you gotta be more humble.

[@BenjaminGoose]

The dragon's what?

[@pamelamckenzie2685]

I wonder what you doing with your life who you have helped.

[@Ghost572]

The dragons are sometime flat out brain dead, look at some of the points Peter Jones has flagged up in the past.

[@sbaxter4207]

So cool under all that pressure!!

[@handbanana4899]

*Recognises the scraggly hairdo from a shorter clip ages ago* Oh boy, here we go again…

[@KnowThyFuture]

Nice pitch from Matt Hardy.

[@boorhaave5880]

Please upload the Tingatang pitch

[@dan003]

Never seen somebody go DOWN the stairs into the Den!

[@MikeGush.]

The uploader has put the video in reverse to avoid copyright dispute with BBC

[@bourbon2242]

@@MikeGush. This channel is run by the BBC. If they were actually uploading episodes of dragons den, they would’ve been shut down ages ago.

[@MikeGush.]

@@bourbon2242 On this, the rarest of occasions they have actually 'downloaded' the episode..

[@bourbon2242]

@@MikeGush. I don’t see how you could actually prove that but go ahead.

[@MikeGush.]

*Mike Gush Exited The Conversation*

[@davidmellish3295]

If this guy wants to raise cash all he has to do is drain his hair and sell the grease to car manufacturers

[@wildmooseking]

The mullet was the first warning sign

[@Catherine-rr3uv]

😂

[@SvenReinck]

This must have been before Amazon got big enough… If I understand correctly, he has the same business model and they said this model bad… 😮

[@treehouse7861]

amazon has reviews which is why they became big in the first place

[@MrBooBeeDoo]

I used to work for Amazon when this was aired and I can confirm he pretty much copied their business model.

[@Midnight_Freefall]

I think the real crime here is the matching shirt and tie color

[@tacocat717]

What kind of product has this guy in his hair? Which kind/product/ can it be? No joke.🤷🏼

[@lolaschwify]

Jag tycker att det är bra att han stod upp för sig själv

[@x_dolly666_x]

Oooo we're repeating stuff now.

[@TheManInBlueFlames]

Always have been...with the rest of the series. You're late to the party.

[@fourfourniner8873]

@@TheManInBlueFlames stfu no one give you permission to speak

[@ericf323232]

He made money plus has 500k in inventory sounds good to me

[@nx47]

$2M but only 100k profit? That’s bad even if it is a profit lol, means he’s just got his head above water

[@jessebella9322]

God this is so old lol I saw this when it was on tele years back, I was pleased to see that Eugene from the walking dead series, was trying something other than just acting though

[@anubusx]

I would love to see how the Dragons would be in that world.

[@jessebella9322]

@@anubusx lol imagine it hey

[@Ginadammit]

This didn't age well. I cackled throughout this entire video, because Peter basically described a drop-shipping business model to this guy, who retorted that his business model was better. Okay, "Mamka", tell that to present-day Amazon. LOL

[@tonytoonstours]

He got a big TV notice

[@hiimjustin8826]

Matthew is a master debater. I hope that brought him comfort.

[@Sh0gath]

I’m the same but without the de

[@zerolevel100]

More of a master bater

[@hiimjustin8826]

@@zerolevel100 Oh very cool I pretty much get along with anyone that fishes

[@Majormoose1]

He probably thanks himself for his time straight after

[@hiimjustin8826]

@@Majormoose1 I mean I disagree, and you're wrong on every point, and nothing you said has any substance at all. But I thank you for your input, and I'm willing to take your criticisms on board

[@noahbawdy3395]

Mathew just won't listen.

[@bourbon2242]

Why are you reuploading content.

[@OTTOBOTTO10101]

There's only a number of pitches that are of reasonable length, it's a shame but what can you do :/

[@ANGELSURS]

For that reason I am out

[@rchaffer]

The king of mullets: the greasy mullet

[@marchumphreys3865]

Peter is Such a Ledgend 2:39 . No no No! You come to the table with a reasonable valuation before you negotiate and then you get into a debate - not the other way around ! ! lol this man Peter is such a king 👑.

[@AutoholicsDriveThru]

Company status: Dissolved Dissolved on: 13 July 2016

[@OraEtLabora0]

RIP

[@badgasaurus4211]

And it’s another repost. Disappointing

[@leoteasdale7484]

Matthew Matthew Matthew..... Proper Mr know it all....!!!

[@Borgen1988]

Eugene from the walking dead is back!

[@anubusx]

How would the Dragons be in that world.

[@jamiegreenham4140]

Lol the guy who has 20% probably gets more back than he discounts

[@Majormoose1]

Of course he does... Why else why would he propose it

[@aTruster]

No longer trading.

[@foreignwarren7361]

Both parties were arrogant

[@studentpocketguide]

"You're right", (I'm right).

[@WobblesandBean]

Did you notice that he only kept interrupting Deborah and Hilary, not any of the men? Very telling about this man, if you ask me.

[@dumpsterplayer2700]

What; he was interrupting Peter and Theo lol

[@justvaish9902]

Very telling about you tbh.

[@notrecyborg5492]

Mamka was Dissolved on 13 July 2016

[@thesource9127]

why the lady in the blue always wearing the same dress?

[@rjmunt]

Bacon poached eggs and pancakes

[@mongo4511]

Budgie smuggler

[@gmwdim]

The business had 600k cash and operated with net profit, why did he even need another 200k in investment anyways?

[@WobblesandBean]

What a child! "Waaaaah, you're so harsh and mean! I don't need you, I'm better than you anyway! Stop bullying meeeeee!"

[@MichaelGarland]

Clearly a student of the Geldolf school of economics. "Give us yer feckin money".

[@AManofSorrows]

Smug mode.... neutralised

[@SparrowHawk2009]

How is the business doing today?

[@TallBoy-vf3tt]

Rip Hilary

[@sergelim1990]

Wait, what e-commerce website is that again?

[@JonasHamill]

*Entrepreneur holding stock and sending direct to customer* Dragons: Terrible business model, have the supplier send it to the customer! *Entrepreneur not holding stock and having their supplier sending direct to customer* Dragons: Terrible business model, you should be sending it direct otherwise you're not in control! Half the time I think these guys are just contrary because they're bored.

[@nanophree]

Wash it down to get a better deal.

[@kikikiki1988]

He completely overstocked compared to his turnover (by half a mill) 🤑 that is a big alarm bell to an investor but OK 👍

[@eval_is_evil]

Thats because you didnt see any red flags during the pitch. They correctly decided not to get involved.

[@eval_is_evil]

@@kikikiki1988 excellent point , this right here

[@calsmyth4483]

@@eval_is_evil Being overstocked doesn't mean the solution is to launch a turnkey operation... You could, you know, just reduce the amount of stock you hold...

[@colonelga-taffy6753]

DOES HILARY OWN ANYTHING ELSE APART FROM THE BLUE SPACE SUIT AND THE WHITE DALLAS SUIT

[@worldcitizen2030]

Who would like to work with this guy?

[@RAGEHXARAGO]

Guess what, Mamka dissolved in 2016, had a decent run but refused to listen.

[@mikesutton381]

Why does Pochettino need the money?

[@vader745]

looks nothing like him

[@Majormoose1]

Should have left his ego at the door

[@OraEtLabora0]

❤AMAZON will have him for BREAKFAST 🤣🥘

[@HeadStartWeb]

Peter has been into dropshipping huh?

[@MitchellTF]

It's got a lot of potential...were someone else running it.

[@balance3201]

Let's all go back in time again.🧐

[@RockyDave]

I've read all your comments, and I understand what you're saying, but...

[@intrepidtomato]

Company has gone bust since. The stock problem seems to have been a real issue.

[@ScottOSaurus]

DRAGONS DEN PLEASE UPLOAD THE “SHE ICER.” PITCH PLEASE

[@BenjaminGoose]

SHUT UP

[@WobblesandBean]

Wish granted!

[@carlt9265]

Lasted 3 years and went bust lol

[@apache1234657]

hes talks like jeff bezos but hes no jeff bezos

[@outdoorsy01]

9:39 this dude is the entitled Karen at the restaurant. FYI

[@magicemperor2420]

“Mmhmm. Mmmhmmm.”

[@margaretchabaud9700]

We saw thus before

[@pamelamckenzie2685]

The dragons are not dicks they are the ones that are there to help you and use their money if it was not for them you have a long road they are brilliant people they can cherry-pick its their money.

[@BenjaminGoose]

" they are the ones that are there to help you" LOL they are there to make money.

[@frankelgueta1350]

Your incredible and profound intellectual grasp of the premise of this business process, coupled with your highly articulate manner of conveying it to the rest of the world, is astoundingly UNDERwhelming, and exceedingly LAME 😒🤦🏽‍♂️😒🤦🏽‍♂️😒🤦🏽‍♂️😒🤦🏽‍♂️😒🤦🏽‍♂️😒🤦🏽‍♂️