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Partnership on the rocks after "shambles" pitch is torn apart by Dragons | Dragons' Den - YouTube
Channel: BBC
[0]
hello dragons on down mark quick
[2]
managing director of partial box is
[4]
installed I'm Liam stamp
[5]
I'm operations manager I'm Brian Wilcox
[8]
and I'm the inventor of these parcel
[10]
boxes we are here today seeking 40,000
[13]
pounds for a 15% equity share in our
[16]
startup company have you ever come home
[18]
to find a parcel on your doorstep if it
[20]
hasn't already been stolen
[21]
listen everyone know you're not at home
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or you've had a pass will deliver to one
[25]
of your neighbors you need to go and
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retrieve it wasting your valuable time
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we have a pencil protected anti first
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partial delivery box which is courier
[34]
agnostic and accepts multiple deliveries
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if I can give you a quick demonstration
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so any courier can turn the handle open
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the draw place the parsley inside close
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the drawer leave it to the secure come
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compartment and then weave your key you
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can retrieve it when you come home with
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the parcel box we genuinely believe
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we've created the future of mail
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insuring our customers residential and
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commercial never miss a parcel again
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we'd like you to take a closer look at
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our products and we invite any questions
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many thanks look hoping for investment
[69]
in their company that produces secure
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mail boxes the packages a darin mark
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quick
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Liam stamp and brown Wilcox so file
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comer yeah it's in the house that's it
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it should drop in automatic yes and it's
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consumed so no one knows the pulse is in
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there they want 40,000 pounds in return
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for a 15% stake in their business this
[91]
is a free-standing unit yes
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this one's standalone this is built-in
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and this one's for apartments but Peter
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Jones thinks it's all looking a little
[100]
familiar
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I've got something similar at my house
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actually that takes parcels and it's got
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a keylock and it was built into the
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brick mm-hmm
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but my personal view is that this is
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already a very limited market in terms
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of its size and the potential because
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typical home has just got enough space
[119]
to have a letterbox it's not gonna go
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and have a filing cabinet near its
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outdoor area is it it's pretty much for
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people that are lucky enough to have
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either brick walls or nice big houses
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isn't it well yeah when you put out the
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front garden but most hazards ever front
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garden you look like somebody's left the
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filing cabinet outside but that's what
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people are doing things really we're
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thinking about getting on vinyl wrapped
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Peter so it could blend in with the
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atmosphere a vinyl wrap mmm
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people to have that in the garden yeah
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it would look like a filing cabinet in
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your garden though wouldn't it but it's
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convenient and maybe now it may look
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like that baby won't be long before they
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blend in at the moment you have two bins
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and a recycling bin in your front garden
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doesn't look aesthetically pretty but
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does job yeah it's just that the
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possibility of having this in most homes
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it's not currently feasible
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Peter Jones is far from convinced of the
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aesthetic draw of these particular
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parcel boxes
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next up taze Levani who wants to unwrap
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the company's share structure so shall
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we start by figuring out how much you
[191]
guys each under the business so I'm 79
[194]
percent shareholder I've 1% I know I
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have 20% right so just in terms of
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pricing how much is that one which is
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installing the bricks at the moment one
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nine nine so how much that cost you cost
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of us is 70 USD 70 is about 55 pounds
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you said you're a startup yeah but you
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have some sales presumably so what have
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you done so we've actually set him for
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about ten months of which our turnover
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is 21 K and in that time we've supplied
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68 boxes and we've provided 37
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installations of the box can I just say
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something slightly so what - no we've
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been two separate companies Darren's
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company has sold 68 units but my company
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sold about 500 in UK and Europe and
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another 500 in Japan and then we're
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merging the companies together right so
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what sort of business is your company
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doing at the moment my companies mean
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more in the inventive side a bit and
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then down and limit I've been the sales
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people right so the investment today
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would be in the combined company yes and
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the IP will be held in that context
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that's correct
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so what else - how much have you sold
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you only said 68 one so in our UK based
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operations under parcel boxes installed
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we have some 68
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however because obviously we've only
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been actually selling them for 10 months
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Brian was the inventor who obviously
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preceded that and his figures go back a
[275]
bit further
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with two sets of figures to marry up
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Taser Varney is having to work hard to
[283]
get a clear picture of the sales now
[286]
it's touka Suleiman's turn to attempt to
[289]
get a better understanding of the
[291]
combined businesses you've come in
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wanting 40 grand it's a total startup
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which I can understand but you've made
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the thing very complicated based on our
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projections so okay projections this is
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I yeah sure anyone so and we project the
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turnover of 63k 63k yeah turnover yeah
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this is purely passive walks figures by
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the way bronze figures are separate
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that's all that going for as a the new
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collective business yeah you've just
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sold me sixty three grand yeah yeah
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seconds Brys that clues your yeah that's
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just that's just after this bronze guys
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you've come in with three of you you
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should have said we're gonna go in
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there's one and I've just asked for some
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figures for the next twelve months and
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I'm assuming that the partnership or the
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amalgamations happens it hasn't yet no
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oh it hasn't hasn't happened that the
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merger hasn't happened okay so year two
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which is the magic year yeah so give me
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the magic figure a head turnover 393 383
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this is not taking into account Brian's
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figures but you come in here or juice
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bets to say includes two businesses in
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one so okay what were the combined
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figures be like for the last year it was
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it 150,000 pounds right and over okay
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so if I double it for next year we'll be
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300,000 sir I'm sorry I am having I've
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got to stop this is a shambles are you
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seriously expecting us to sit here and
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add all of your numbers together
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so we can work out for you whether or
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not you've got a business that might
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possibly work joint I have never seen a
[400]
presentation like this in the dent
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have you actually spoken to each other
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before you walk through those doors we
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did yes did you think about making a
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presentation that actually presented the
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business that we were going to invest in
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instead of expecting me to sit here and
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sew right what's your bit of the
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business which year
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what's the bit that you're talking it's
[419]
add that together and let's see what's
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going forward yeah now respect up oh
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well I'm no I'm not asking you to
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respect it because I've got to tell you
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this is shambolic I'm sorry about that
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but we are the moment we're two separate
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companies and but you're not asking me
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to invest in two separate companies you
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can't stand in here and say we're
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combining the business but actually
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we're going to give you the two separate
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numbers you're confused I mean you're
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completely Capital I haven't got any
[447]
questions for you whatsoever I could not
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possibly invest and spend my time trying
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to work out the confusion that you
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yourselves haven't bothered working at
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the other side of those lift doors I
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won't be investing I'm out
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[Music]
[468]
Debra Medan is unequivocal in her
[471]
disdain of the entrepreneurs pitch and
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perhaps not surprisingly becomes the
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first dragon out will Peter Jones be any
[480]
more forgiving
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well that's put a very interesting
[485]
atmosphere in the death and I actually
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couldn't agree more
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it's embarrassing isn't it we we've been
[494]
a bit naive this is an embarrassing
[496]
moment for you it's quickly add the
[497]
numbers up Shirley I think it's best
[501]
that we just leave it there I'm out a
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bit I don't understand in putting two
[511]
businesses together is how you then
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ended up with 79 percent to you down and
[517]
20 percent to you Brian
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a brand you've got the track record of a
[521]
business that has sold yeah
[523]
five hundred units in Europe five
[525]
hundred units in Japan or something yes
[527]
and you guys are just resellers but you
[530]
end up with 20% of business and you
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Darren that was 79 it doesn't make sense
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it would be in an equal amount between
[537]
us you just said it was 79 20 m1 that's
[547]
what it is at a moment to be honest I
[549]
think the proposition is a disaster let
[550]
alone the investment that you've tried
[551]
to present I could actually a trillion
[553]
questions but it'll all lead to the same
[555]
thing which means I'm out thank you
[558]
confusion reigns in the den as Jenny
[561]
Campbell's probing reveals discrepancies
[563]
over the company share structure with
[567]
three dragons now out of the picture has
[569]
taste Levani got any chance of getting
[572]
this pitch out of the doldrums
[577]
how can you not have this organized this
[579]
doesn't make sense
[582]
you guys haven't got proper business you
[585]
know what a shareholdings are you know
[586]
what the sales are and I can't be part
[588]
of something like this so I'm gonna say
[590]
hell out how do you feel Gossett's
[597]
November look guys I'm gonna be very
[600]
straight with you there is a problem
[602]
unfortunately you're not gonna show it
[605]
out for that reason I'm not gonna invest
[607]
and I'm out
[608]
thank you thank you very much thank you
[612]
they started so optimistically but the
[616]
fault lines in their pitch soon began to
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appear I'm absolutely speechless
[624]
he's shocking gonna be doing a sort of
[627]
actually dancin here and it's created a
[630]
seismic split in their new partnership
[632]
as Deborah said it's a shambles and you
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know I can't disagree with them based on
[639]
what I've just experienced I won't be
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merging with these two guys they're
[642]
messed up me and four eyes walking I'm
[644]
yeah
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