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Possible to invent an electronic device without capital have any here done this?

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james_s:
Ideas are a dime a dozen, if you want to get anywhere you'll have to come up with a prototype or at the very least a proof of concept.

jpanhalt:

--- Quote from: james_s on September 27, 2021, 11:17:12 pm ---Ideas are a dime a dozen, if you want to get anywhere you'll have to come up with a prototype or at the very least a proof of concept.

--- End quote ---

Yes and mostly no.  The real money is made in the market (i.e., sales).  Very few patent owners per se made it compared to great and ruthless sales, like Dell, Musk, Bezos, and Gates.

Bud:

--- Quote from: sandalcandal on September 25, 2021, 04:55:44 am ---Also Shark Tank is a load of bullshit reality TV show.

--- End quote ---

It was better in earier days. Uber and AirBNB were on Sharks Tank when nobody knew them. I remember them 'cause at the time i could not make sense of their company names in relation to their businesses.

But these days yes, those "sharks" will not even put their glasses on if you already not making half a million dollars in sales.

james_s:

--- Quote from: jpanhalt on September 27, 2021, 11:22:15 pm ---Yes and mostly no.  The real money is made in the market (i.e., sales).  Very few patent owners per se made it compared to great and ruthless sales, like Dell, Musk, Bezos, and Gates.

--- End quote ---

Well yes, but the discussion was around inventing a device, not coming up with a way to make a lot of money, in which case yes, you're right, inventing a device is usually not the easiest way to make a lot of money.

sandalcandal:

--- Quote from: Bud on September 27, 2021, 11:34:03 pm ---
--- Quote from: sandalcandal on September 25, 2021, 04:55:44 am ---Also Shark Tank is a load of bullshit reality TV show.

--- End quote ---

It was better in earier days. Uber and AirBNB were on Sharks Tank when nobody knew them. I remember them 'cause at the time i could not make sense of their company names in relation to their businesses.

But these days yes, those "sharks" will not even put their glasses on if you already not making half a million dollars in sales.

--- End quote ---
I don't remember anything on either Uber or AirBnB being on Shark Tank and a quick search seems to confirm that neither them ever were. There are plenty of other companies which have appeared and have later been successful though (obviously most successful ones didn't do deals with the Sharks). The many of the offers given (particularly earlier on) are completely non-sensical e.g. equity for money worth less than the assets of the company, just get a business loan instead?

Early Shark Tank was even worse, I remember having discussion with other entrepreneurs years ago and hearing that they take 5% equity or 2% royalties just to appear on the show. So of course any company which knows they're worth a damn would never bother to appear. They've since changed that policy a while ago however https://www.inc.com/will-yakowicz/mark-cuban-forces-shark-tank-to-remove-equity-clause.html


--- Quote from: MadScientist on September 27, 2021, 09:51:03 pm ---VCs invest in people not things.

--- End quote ---
This 100%. Though if you have no plan and no prototype, they're likely to judge you poorly as people unless you are already well known to them (unlikely for a new entrepreneur).


--- Quote from: james_s on September 28, 2021, 12:56:16 am ---
--- Quote from: jpanhalt on September 27, 2021, 11:22:15 pm ---Yes and mostly no.  The real money is made in the market (i.e., sales).  Very few patent owners per se made it compared to great and ruthless sales, like Dell, Musk, Bezos, and Gates.

--- End quote ---

Well yes, but the discussion was around inventing a device, not coming up with a way to make a lot of money, in which case yes, you're right, inventing a device is usually not the easiest way to make a lot of money.

--- End quote ---
Patents are tickets to sue (or threaten to sue) people. Patents have near zero value in and of themselves. You make money providing goods and services to people, not by sitting on patents.

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