"Thoughts of low value"- When Daymond John turned conflict into $100k Shark Tank deal

ABC's Shark Tank, now airing season 16, has showcased thousands of business pitches since its debut in 2009. A notable throwback from season 2 captured a tense exchange between Shark Daymond John and Wurkin Stiffs creator Jonathan Boos in 2011. The tension peaked when Boos confronted John, suggesting the Shark doubted his brand-building potential. John immediately clarified:

"I didn't say you can't make it a successful brand. People who are successful have thoughts of high value, and people who are not have thoughts of low value. So you're valuing yourself high."

However, Boos's repeated interruptions during John's feedback led to a withdrawn offer, though Kevin O'Leary and Robert Herjavec remained interested. The negotiation eventually concluded with a surprising partnership offer from Barbara Corcoran and Daymond John, despite the earlier tension on Shark Tank sets.

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Shark Tank investors Daymond John and Barbara Corcoran's $100k deal with Wurkin Stiffs

Jonathan Boos walked into the Shark Tank with magnetic collar stays that solved an everyday problem for business professionals. His product used a metal strip with magnets to maintain crisp shirt collar positioning throughout the day. The demonstration caught immediate attention from all sharks.

Boos explained the manufacturing process, cost structures, and market positioning with confidence. The product retailed between $20 and $30, with manufacturing costs under $5 per unit. These margins attracted serious consideration from the sharks.

Shark Tank investor Kevin O'Leary stepped forward with the first offer. "$100,000 for 30% equity with a 14% royalty until I recoup my investment," he proposed. This move triggered interest from other sharks. Robert Herjavec saw potential in the business and countered with another offer.

"I'll give you $100,000 for 30% straight equity, no royalties," he stated.

The turning point came when Daymond John questioned Boos about his investment plans. Boos responded firmly,

"Anyone here should know what I can do with $85,000. I need someone who knows what they're doing to help me reach the next level."

The exchange grew more intense as Boos continued speaking over John's attempts to respond.

"You built FUBU from selling hats into a massive brand. Now you're looking at me like I can't build a successful brand. I don't understand that," Boos said.

John attempted to explain his perspective but faced constant interruptions. "Let me finish my point," the Shark Tank investor said multiple times as Boos kept interjecting with comments and hand gestures. The back-and-forth created visible tension in the tank as other sharks watched the interaction unfold.

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Breaking point

Daymond John maintained composure despite the interruptions. Before John could complete his thought, Boos waved his hand dismissively.

"Now he's going to say it's because I was arguing," Boos interjected.

The discussion reached its breaking point when John stopped mid-conversation and withdrew from the Shark Tank deal. Kevin O'Leary pointed out to Boos that he had angered John with his interruptions. The latter then explained,

"I wanted to tell you that your high-value thinking will make you wealthy. I tried giving you a compliment, but I couldn't complete my sentence," John explained.

When Boos commented about John's speaking pace, the latter responded that the Wurkin Stiffs founder had ruined his own chance at receiving an offer through his impatient behavior.

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Aftermath

Barbara Corcoran re-entered negotiations, offering $100,000 for 20% equity if John would join her. The latter specified he wouldn't accept less than 40% equity, citing his business expertise. The other sharks and Boos expressed surprise at this requirement.

Despite O'Leary reducing his equity demand to 15% while maintaining the royalty structure, Boos accepted the partnership with Corcoran and John at $100,000 for 40% equity. The deal marked the end of a complex negotiation in Shark Tank.

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Fans can watch new episodes of Shark Tank on the ABC network.