Peter Jones' reality check for overconfident tech entrepreneur! | Dragons' Den - BBC

This guy is a knob lol

Bring back Tej

Problem in Australia. I bought a sim in Darwin, and used it over northern territory and down to Alice springs and had no network problems at all.

Martin the cockroach

As a tech investor I have a few comments.

1. The valuation is high but not crazy per se if you’d go to a VC at an earlier stage, but these dragons are not VCs, they’re more like family offices or angels. But no one would want 2.5% and no one would enter at this stage after proven failure. It’s a bailout and should have been presented as such.
2. Everyone in the room is pretty dumb to agree that 40k users cannot provide for coverage numbers. It’s not how statistics work. Depending on the distribution, this may already be enough. But the guy is also dumb for not simply adding telco maps on top of first party data.
3. Just for the record, I speak with institutional investors, from VCs to private equity, on a daily basis, especially from the US, UK, Singapore, etc. The dragons have come up a few times and they’re not taken seriously and are essentially just old fashioned retail people. Except for the relatively new black guy, I don’t remember his name. He’s in the 21st century.

Collecting people data then selling it on illegal market

Isnt that the CEO of Apple?

Martin the ant

Fatty sara likes him

WTF is with all these morons saying "i have the document right here" only to show after a dragon reads it that it is not even close to the truth?

The idea isn't bad, but it's the type of service that needs an existing userbase. A startup won't do much.

Sarah: "I'm a liar and you're a liar. I respect that, but you believe your own lies. That's dangerous".

Sad part is they were right

I don’t understand the customer perspective of his business , most phone contacts are 12 months up to 24 and over

Peter Jones is just too elite. The guy just spots the flaws instantly and before everyone else

How does he make money? Let's guess he would like to get 15 pounds per contract signed. To get 5 million pounds he would meet to sign over 330.000 contracts a year. That means with 60 million potential users in UK, ever 20th person in the UK signs a deal with him per year. And that's just a number for 5 million turnover. He he wants 10 millions p.a. he'd have to have every 9th person in the UK to sign a contract through. That's the spirit. On the rate of getting 50.000 people on the app, he had to spend 300.000 pounds. So 6 sounds per user. Let's bring it down to 2,5. He just needs 150 million the reach every UK citizen worth having on the app. I know it's a very trivialized example but trying to get my point across.

This guy’s face is so punchable

250K for 2.5% values the company at £10 million which is crazy for a company with an annual turnover of £50K - £60K

If he was offered all that money, why look for more investment? Gobshite

Wow this is like an Indian drama scene the way the zoomed in on Peter with the sound effects synced !!😂😂😂

why was touca so mad jeez

a leftie

This guy didn’t really want a deal. He just wanted a 10 minute advert on the BBC. That’s why he put such a crazy valuation on it.

paul o gravys boyfriend

She’s not in the Den today, but Jenny just popped by to say “I’m out.”

Deborah is always my favourite. And she’s so glamorous too. I hope to be like her when I’m her age.❤

I genuinely don't understand how after all these years there are still people who don't understand how to value their business to the Dragons.

Barbara from Sharktank calls: "I don't live in the UK, and for that reason I'm out."

Free advertising I guess

Aren't there websites that give the same information?

Well mobile phones pros & cons
How
Scammers are intruding?
Nowadays ????

To think this bluffer would actually convince some poor souls out there. A total fraud - but then I knew that the minute I saw him.

I have no idea why he thought Australia would be a good market, seems to me like the worst one he could have picked.
You need lots of users with decent density to map out the coverage. With sparse population over large stretches of land, the app would be unusable in most parts of the country.
For the same reason, I don't see how going international would help in any way. More users only increase functionality if they also increase density, by spreading out you are doing the opposite.

Man wanted to go up against comparethemarket and gocompare... Those are a dangerous lot.

FYI - Martin's company is now dissolved. Dragons doged a bullet on this one.

IF GOD EXISTED THIS GUY WOULD OF GOTTEN A FLAT TIRE ON THE WAY HOME FROM THE BRITISH SHARK TANK OFFICES!!!

Once you get an opportunity to present in front of the Dragons, know your figures, know your company's true worth and anticipated sales and be prepared on some tough questioning... no 20 pc increase in revenues BS and don't be too cocky. I get that this is TV and maybe some of it is fixed and that some proposals will never get through but gosh, think it through! I'm an entrepreneur and wouldn't consider coming on if I was ever invited, without knowing my figures, supporting them and gosh... being humble. The dragons are dragons for a reason, they've all worked bloody hard, know the world and you can't BS any one of them and they need to be respected.

My iPhone does this better 😂

Toukan is hilarious, he's like wobbly jelly

The lift has a maximum weight limit of 500lbs. Sara Davies exceeds that

Streamlining, the whole ongoing enterprise of it.

The lad starts some sentences with the word "so", and for that reason, I'm out.

You won't be buying anyone drink, sir. YBOO went bust a year after this was filmed..

Why do people come on this show to be demoralised and it's complete self sabotage?

The only bit he got right is we do have shit coverage in Australia

i thought that was joe pasquale at first but he never said i have got a pitch that will get on your nerves get on your nerves get get get on your nerves

Choosing Australia as an expansion area shows huge naivety as there’s only one network that works in the rural areas there and it’s not from lack of trying for consumers

I get the feeling he just digs a deeper hole

There’s no problem with cell coverage in Australia 😂 there’s just 90% of a country where nobody goes and there’s no reason for cell coverage