Whoa.
Why are you here?
I am here because I would like to take this product
and this brand into sports licensing.
Worst excuse ever to be here.
You could have bought as many licenses as you want with that.
You just call Fanatics, you call the NBA.
You know how to get a license. You've done --
I don't. I don't. Seriously, I don't.
You have 3-point-something million in the bank.
You got enough to hire people to go out and do licensing
and to acquire the licenses.
Where my team is focused... You know what? I'm trying to figure out -- Listen.
Listen, listen, this -- ...where my salespeople are focused is in outdoor.
Wylie, listen -- I don't want to distract them for this other channel.
Worst excuse ever. Mycoskie: Mark, what do you think?
Do you think he's here for the exposure?s
No. Or do you think he really wants us to invest?
Yeah, Wylie, look, I'm not buying the whole
"I can't get sports licensing help without you guys."
So for those reasons, I'm out.
O'Leary: You know, Wylie,
it takes my breath away that you would come in here
and ask me to pay you 50 times free cash flow for blankets.
We don't really need the cash. What we need is a partner.
And what I'm willing to talk about is a loan with a royalty.
Did you say "royalty"? I said "royalty."
Was I being nasty to you? I take it all back.
No, no, it's all fair. Okay.
Do you know why, Wylie? 'Cause you have something called sales.
Hit me. What do you got?
Alright, so, I would like to potentially structure this
as a $600,000 loan,
10% interest paid back over 2 years,
and then 5% of all revenue generated
in the sports license channel.
John: I'm gonna make you an offer.
A loan at $600,000 at 10%
and 5% of sales for 2 years.
That's crazy. Hold on.
So when my Sun-Staches guys came on here, they had nothing.
I got them all of Disney, all of Marvel,
Pokémon, sports license -- all of that stuff.
Daymond, I think we should do this together.
If you can help grow those channels,
I know I can help in the DTC.
Blake and I will give you $600,000 at 10%.
That's a loan.
I would go after licenses for you.
Blake, you're gonna go after wholesale.
Yeah, I mean, I can literally grow his wholesale
by 500% tomorrow.
So, 2.5% to each of us
for two years on all sales.
And then that's done.
And we get 4% equity.
O'Leary: I'll give you the $600,000,
I'll take 4%,
but we're not gonna call it a loan.
I'm just gonna say give me 10 bucks a blanket
till I get back $1.8 million,
and I keep the 4%
because I became your partner in my "Shark Tank" portfolio.
And I'd rather just take the 600
and pour it onto direct sales.
That's it. You don't have to go nuts.
I'm gonna tell you what I'm gonna do. You're paying half your free cash flow.
What do you got, Lori?
I'm out. [ Laughs ]
Cuban: Good call, Lori. Alright.
Yeah, so, Daymond,
I think we need more equity after doing this math.
We're gonna do a ton of work on this business.
So, the deal is $600,000 loan at 10%,
2.5% to me and to Daymond for two years,
and 10% equity.
The deals keep on getting worse for you.
I mean, that's --
No. That's a --
I like the Mr. Wonderful offer better.
I like the Mr. Wonderful offer better than that one, as well.
[ Laughter ]
How about this, Blake? I'll be honest. That's fine. There's gonna be a lot of deals today.
I was really excited when I learned that you were gonna be the guest Shark.
And I'm stoked on you. I've admired you as an entrepreneur
and an individual for a long time.
Thank you.
What if we do $600,000 as a loan,
10% interest paid back over two years,
2.5% royalty on sales for two years...
Okay.
...and 4% equity?
So it's the same offer I came in...
Now he's back to where you were before. ...plus the royalty.
O'Leary: You're gonna have to give up 10% to get two Sharks.
And really, you've already said you want to be dating Blake.
You're not going to the dance with Daymond. I have.
Yeah. I mean, you can throw Daymond under the bus,
which you're about to do, 'cause there's no way you're giving up 10%.
That's right. I'm not giving up 10%.
What do you want to do? That's the decision.
Alright, so, I'm gonna give you clarity for this one.
I don't want to get in the way, so I'm out.
I appreciate that, Daymond. No disrespect, honestly.
No disrespect taken. Look, the thing is,
is I was excited to do a deal with Daymond on the licensing,
but I also just have to look at the value of my time.
And I'm only gonna focus on two, maybe three investments a year.
I'm gonna get involved like a founder,
and so I need to be treated like a founder.
And unless I have 10% equity,
I just won't feel like a founder,
and I won't be motivated to help you as much as I want to.
And that 10%'s just as low as I can go.
♪
What are you gonna do, Wylie?
♪
Guys, I'm sorry. I can't do these deals.
[ Groans ] 01:09:37.673,00:00:00.000 I apologize.