Patent Attorney and Founder
Hi sharks my name is Ming Zhao I’m from San Francisco California I’m here to see 500 000 for five percent equity in my company sharks what is the one thing that we all search and pay a lot of money for the use of our skin the problem is most Beauty companies box us into four crude categories dry oily sensitive normal even though our skin is really complex dooming us into an endless cycle of expensive trial and error that’s why I took matters into my own hands to change the skin care industry once and for all [Music] introducing proven skin care using artificial intelligence and cutting-edge science we create a personalized and effective skin care regimen engineered for your skin and your lifestyle to assess your skin simply log on to our website to fill out your free three-minute skin intelligence quiz questions cover everything from your skin concerns to your stress levels to your locality and even uncovers your pollution levels then using our award-winning skin Genome Project database our scientists create your own proven three skin care routines a personalized cleanser a personalized night cream and a personalized day SPF all packed with the right Powerhouse ingredients for you at proven we’re using science technology and hundreds of ingredient combinations to create the product that works for you sharks it is inevitable the artificial intelligence will be the future of Flawless skin so who is ready to shake up this industry with me five hundred thousand dollars to five percent imputes a 10 million dollar value so I’m so excited about your sales they’re going to be great sure so we were in our beta uh trial for two months earlier this year we gained a hundred and ten thousand dollars in sales we were selling mostly from digital channels through Facebook Facebook ads how much did you spend to get that 110 000. so we spend about ninety thousand to get to we spent ninety thousand to get one ten that’s right okay then what happened and then four weeks ago we relaunched a new website with new branding right and this month we’re also on track to do about 65 000 we also have a licensing agreement for 3.5 million dollars 3.5 million that’s right to use our technology they want us to create a adjacent category database in the baby care space that’s interesting if you really have something proprietary with data you can sell other large players in the skin space and you can get 3.5 million dollar license deals Mr Wonderful is your man but this business the chance that you will get share in this space is so small it is so competitive they will crush you like cockroaches I have been pissed at least six AI driven cosmetic companies in the last six months but did they win mit’s AI technology of the Year award do they have any proof just cause you win an award I mean you know many times I’ve been tested out but many it has been seen all the numbers though let’s let’s just go down the numbers so okay let’s take your sales this year let’s just be the most optimistic we can be about proven give it to me we’re projecting to do three million dollars you can make 110 000 sales you spend ninety thousand it’s almost one to one so you don’t care about that except you got to raise more dough right next year on the three million you think you’ll break even um not yet effectively on your next year’s three million you were you were planning on spending two million or so in advertising correct that’s right okay so you’re buying your sales so it’s one thing to say my technology is amazing but when you do that there should be customer referrals you’re saying effectively that you’re not expecting anything from your existing customer base because you’re having to buy all your sales it’s a business decision we’re making to keep on experimenting with new channels new methodologies if we want to be profitable next year we can be my Mommy gave me some great skin for my birthday a little chocolate and everything it’s amazing so I’m not going to waste your time I’m out thank you Damon look me the AI stuff doesn’t add up to me I don’t think that there’s a lot of organic growth that’s built into this so for those Reasons I’m out and I’m going to save you guys some time all the sharks ended up passing on on this company um so what I will say is there um they did they did have some patents they had two patents that were issued over this company um which is you know impressive proven has uh is the name of the brand the name of the company um is see if I can scroll at the top here their patent it’s called life spectacular Incorporated um and and zaoshi one is the inventor and and the one presenting their uh at the Shark Tank so what they had um patented and I’ll share this with you it’s a method and apparently if she’s you know she’s accurate they did license this technology to a company as she mentioned for baby care baby skin care um and if that happened then that’s excellent and the fact wonderful for them it’s a great way to monetize the patent so what is what is going on here so this is issued you can see the issue date May 10th 2022 um it was filed in 2020 so it took a couple years a year and a half to go through which is pretty quick for a method patent how do I know that it’s a method patent wall you can tell by the by the drawings that there’s no real product or device here it’s it’s a system okay it’s a system of elements and there’s boxes and there’s flow charts and it’s how the information flows so I’m going to scroll to the bottom and I want to show off a little bit about what the patent is so the independent claim you go to claim one and you can tell everybody it says a method okay and so method is nothing more than a series of steps right it must include a series of elements and they all must be in place for a for someone to be considered to be infringing so she has the rights the company has the rights because they’re the assignee they can exclude anyone else for making using or selling this method and allegedly they have licensed it right they’ve given another company the ability to make use or sell and it’s unlike maybe even tests right new channels new ways that it can be improved upon so it’s a method um and it has to be creating a host service a user skin profile has to have skin related information non-skin related information okay fairly generic so off to a good start because you want your patent to be nice and Broad the next required element is it has you know the the data right skin and non-skin related data from a user must be modified um it has to it has to change at least one Matrix we calling it a matrix factor and this is sort of a made-up term that will have will be defined in the in the specification of the patent and if we’re going to go into substantiation we would want to go look and see what that meant what a skin Matrix factor is but that’s the way they’re modifying this data that’s coming in and then there’s still three well actually five more separate elements so once they’ve got that modification in their Matrix from the user information they’re going to derive a skin profile identifier generate a user-specific product ingredient and then they’re going to select a curated set of products from that and even more right even more elements are required to provide a curated set of skin per products right recommend try to sell skin care products based on the user’s skin and non-skin information after they’ve modified a matrix and that’s not enough they’ve got actually do three more things schedule one automatic update to the user okay so that’s a little Ascend I’m guessing an email write a text message and then it’s going to create a a skincare product for the user with automatic update signals for anticipated changes as the user perhaps ages or who knows what maybe they’ve got an additional exposure to UV and last but not least they’re gonna provide so they’re gonna actually have to transmit and give that user that recommendation so it’s a whole host of steps and let’s count them one two three four five six seven eight nine ten eleven twelve steps to that method against it’s quite narrow and I would be really shocked to hear that this was successfully licensed um it’s interesting to to hear that but it’s not impossible it’s the same with a method like that it’s very challenging to spot an infringer and make sure they’re actually practicing all 12 of those steps so it seems very narrow in what it’s doing what what the um invention contains