Evaluating the Smart Tire Company's Pitch on Shark Tank

The Smart Tire Company, founded by Brian Yenni and Earl Cole, aims to revolutionize the tire industry with airless tires made from NASA's shape memory alloy technology. Despite the innovative concept, the company faces challenges in execution and market strategy. The pitch to investors highlights the potential environmental benefits and safety improvements of their product, but concerns about high costs and lack of a clear business plan lead to skepticism. The company has raised funds through crowdfunding and plans to start with bicycle tires before expanding to car tires.

What is the main problem with traditional rubber tires mentioned by the entrepreneurs?

• They generate a lot of toxic waste.

• They are not durable.

• They are difficult to manufacture.

• They are too expensive.

What material is used in the Smart Tire Company's airless tires?

• Steel

• Nitinol

• Carbon Fiber

• Aluminum

What is the primary benefit of using nitinol in the tires?

• It is easier to produce.

• It is more environmentally friendly.

• It is elastic like rubber but strong like titanium.

• It is cheaper than rubber.

What type of agreement does the Smart Tire Company have with NASA?

• A partnership agreement

• A licensing agreement

• A space act agreement

• A joint venture

What market segment is the Smart Tire Company initially targeting?

• Aerospace

• Bicycles and micro-mobility

• Heavy machinery

• Automobiles

How much does the nitinol material cost per pound?

• $150

• $200

• $100

• $50

What is the estimated cost to produce one bicycle tire using nitinol?

• $150-$200

• $50

• $100

• $250-$300

What is the price range for a set of bicycle wheels with the new tire technology?

• $1000-$1500

• $500-$1000

• $2500-$3000

• $1500-$2000

What was one of the main criticisms from the Sharks regarding the business strategy?

• The company should license the technology to existing manufacturers.

• The product is too cheap.

• The market is too small.

• The technology is not innovative.

How many customers are on the waiting list for the Smart Tire Company's bicycle tires?

• 3,000

• 6,000

• 1,000

• 5,000