Additional Coverage:
- ‘Shark Tank’ contestant ignores Daymond John’s offer as the judge calls his line of work ‘overrated’ (marketrealist.com)
‘Shark Tank’ Judge Daymond John Calls Air Force Work “Overrated,” Misses Out on Deal
Daymond John, the ever-confident “Shark Tank” judge, may have let his confidence get the better of him recently. After calling an Air Force veteran’s career choice “overrated,” John found himself on the outside looking in on a promising deal.
The veteran, Tom Burden, pitched his invention, the Grypmat, a non-slip tool tray designed to solve the common problem of tools sliding off surfaces during aircraft maintenance. Burden, a former F-16 mechanic, explained how mechanics often resort to using makeshift solutions like rugs, muffin tins, and even urinal cakes to keep their tools in place. The sharks were impressed with the product and Burden’s sales figures, which had already reached $400,000 in just 10 months.
John was the first to make an offer, but his $200,000 for 25% stake came with a dismissive comment about the aviation industry, calling it “overrated.” He also interrupted Burden mid-sentence, potentially rubbing the entrepreneur the wrong way.
This opened the door for other sharks, including guest shark Sir Richard Branson, to swoop in with their own offers. Even after lowering his ask to 15%, John couldn’t recover.
Burden, clearly put off by the earlier remarks, expressed his preference to work with Branson, citing the Virgin Airlines founder’s extensive aviation experience.
Ultimately, Burden negotiated a deal with Branson, Mark Cuban, and Lori Greiner, securing $360,000 for 30% of his company. John’s initial misstep and dismissive comment cost him a chance to be part of the deal, proving that even the most seasoned investors can sometimes lose out due to a lapse in judgment.