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| Possible to invent an electronic device without capital have any here done this? |
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| Beamin:
--- Quote from: sandalcandal on September 28, 2021, 01:48:51 am --- --- 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. --- End quote --- My father made a shitload off patents on computer devices in the late 70's early 80's but he sucked at business, one of his devices is used around the world to this day and he sold it with no royalties. idiot. I rule at sales have been for twenty years often the top three where I worked I know how to BS people and the psychology... |
| Beamin:
I need to pull an elizabeth holmes less the fraud. |
| PlainName:
--- Quote ---My "Shot spotter" would also work in cities with devices on telephone poles to alert police. I really want to make this before some one else realizes how easily It could be done --- End quote --- This is already being done, isn't it? https://en.wikipedia.org/wiki/Gunfire_locator |
| nigelwright7557:
If you have little capital then expand slowly. That way you get money coming in to spend. I have designed about 20 hardware/software systems and they all worked well that way. |
| Buriedcode:
I have no advice that is better than any of the replies here, so I'll spare you my two cents. Whilst ideas are the start, and can often fail to bear fruit, but need to be tried, I'll just drop this link: https://www.riskology.co/idea-guy/ I have known several people who have their pet ideas for invetions/patents, and the ones who are secretive about it - even one who remortgaged his house to keep the rights to his ideas - have never made any progress. You can't do everything alone. |
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