By DaveLevy on Jan 12, 2005
The BBC are showing a TV program series called "Dragon's Den". Despite my interest in fantasy, this is about venture capitalism, not sword & sorcery, albeit with a very British spin. Yesterday, a show went out which sums up the crapness of british industrial management. Each week the show gets a bunch of self-made rich tossers into a loft and asks would-be entrepreneuer's to beg them for money to invest in their business.
Yesterday, Kestrel Aerospace, who are building a personal air vehicle based on a proprietary and innovative engine within a craft that looks a bit like the aircraft flown by Arnie in the fim "The 6th Day". Its a fantastic vision based on scientific intellectual property with true value. They were asking for £70,000 and were turned down. One of the "Dragons" stated that he would wait to buy one. They (actually the only female dragon) did however agree to fund a "Suits You for Girls to go". See the Dragons Den winners page. While some of the pitch for the money involved the use of feminist rhetoric, this is a tailoring business. Arguably, its a channel business (like Amazon), which is why Rachel Elnaugh invested in it.
How come it doesn't surprise me that a bunch of rich no talents choose a tailoring business over a manufacturing business? Its part of a british disease, making money by making things of value is too hard & difficult for Britain's entrepreneurs. Obviously the fact that Kestrel know that they have value means that they won't be ripped off by the greed of the dragons, so there is no way they can take the micky and take disproportionate equity stakes. Kestrel weren't desperate enough. This makes Kestrel unattractive to the greedy. I'm surprised that the BBC don't get Harry Enfield to reprise his "Loadsamoney" character for the show.