I’d like to introduce you to Amazon.com, which I think will be the largest retailer in the world. My name is Jeff Bezos and I’m asking the Sharks to back my company with $500,000 for a 5% stake.
Lori Greiner: That’s sounds like a lot of money, what do your profit margins look like?
There aren’t any. I would prefer to talk about revenue.
Lori Greiner: Okay but anyone can generate a lot of revenue if they’re willing to be the lowest-price seller and generate a lot of losses.
Right, well that’s what I’m going to do. We’ll sell billions of dollars worth of merchandise every month. Profits will come later.
Barbara Corcoran: When is later?
We’ll still be generating losses 18 years down the road. But we’ll be sure to add new services along the way that people will be excited about.
Mark Cuban: But aren’t you worried about running out of money?
No. Investors will keep giving us money because we’ll keep growing and showing increased sales. Other retailers we compete with who have to actually earn profits will go out of business and we’ll keep getting bigger.
Lori Greiner: Jeff, I actually think you’ve just discovered the holy grail of capitalism. Why hasn’t anyone else ever done this?
Because this is an Internet company, and the rules are different. The standards by which other businesses are judged won’t apply to me.
Mark Cuban: Actually, I kind of think this could work.
Did I mention drones?
Daymond John: I need to see some proof that an eternal funding machine like this can last as long as you think it could. So for that reason, I’m out.