Anyway, getting back to the other guy with the idea. I sat on it for about two weeks. Then one night I was sitting there thinking, Oh what the hell, let's at least hear the pitch. What's the worst thing that can happen, I waste 45 minutes to an hour of my day. So in comes this kind of quirky guy, that was carrying a "prototype" model, maybe not even that, a sort of conceptual machine, that brews coffee one cup at a time. The great thing was every cup could be different! You could have a breakfast blend and your wife could have a french roast! I am sitting there astonished, because this guy wasn't a coffee guy at all he was an inventor! So I am pretty astonished by this guys concept. I mean, to me it was the best idea since A&P put grinders in the aisle to transform fresh roasted whole bean coffee into fresh ground coffee. Which turned into Eight O' Clock coffee and TATA beverages, who also owns Tetley tea among a few other national brands. The only thing was the idea was so raw, there was plenty of R&D to be done to successfully bring it to market. So during our meeting I ask this gentleman, why are you pitching this idea to us? His answer almost made me fall out of my chair. He said, "well I was looking in the yellow pages, and your company was the first one that caught my eye". WHAT?
I will say he had a plan, was looking for funding and knew his product had to be manufactured. The only thing was it was still in its infancy stage. When I mean infancy, I am talking about maybe a three month old baby, and you really don't know what you have yet. I fell in love with the idea. Brilliant I thought. The only thing was, you had to kind of create a prototype packaging machine that could produce the product without defects and the product wasn't really completely finalized. I looked into the cost associated with something like this for 3 months. I found a company who could build such a production machine, and the cost would be $400,000 approximately. They thought I was crazy even asking about this. Anyway, I did my homework, presented the proposal to the owner of my company, with my strong recommendation that we do this, and he basically shot it down in ten minutes! He thought I was a gambler and absolutely out of my mind. I will never forget him saying to me, "kid, you have a lot of potential, but you really need to grasp the risk reward thing, it will come with experience, you will see". Well that product became K Cups, which is now everywhere you look! They are selling the machines and multiple products in Supermarkets, for crying out loud! Just look at Green Mountain Coffee and their public stock price! You know why they are so successful? Because they partnered and spent the capital to produce the product. The downside of this whole thing is the inventor of this revolutionary product, because of panic, financial difficulty or whatever, isn't even involved in it. Some VC company bought the whole thing for some ridiculous amount like $50k from him. Now he is over in Newton, Mass, trying to build something to do with lights that will revolutionize the electrical industry. Unreal but true. That's all for now but more to come. I hope you are enjoying the journey it gets crazier and crazier from here on out, but really the truth. As always, peace to everyone, kiss and hug the people you love daily, and always give thanks, that we live in the greatest country on earth! I am out of here for now! Joe