5 • 710 Ratings
🗓️ 22 October 2023
⏱️ 17 minutes
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These inventors were pioneers of their time, developing inventions that are still in use today. Luck, however, wasn’t on their side. Either through their own unawareness and inaction or the ill will of outside parties, these unlucky inventors missed out on cashing in big time.
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0:00.0 | If you come up with a million-dollar idea, you might assume it to be yours forever, to cash |
0:05.3 | in as you see fit. Unfortunately, that's not quite how it works. As many have found throughout |
0:11.7 | history successfully crafting an idea is only a fraction of the battle. The following inventors |
0:17.5 | were pioneers of their time developing inventions that are still in use today. |
0:21.9 | Luck, however, wasn't on their side. |
0:24.5 | Either through their unawareness and inaction or the ill will of outside parties, |
0:29.0 | these unlucky inventors missed out on cashing in big time. |
0:34.7 | You're listening. |
0:35.7 | You're listening. |
0:37.2 | You're being. You're listening. You're listening to be amazed. |
0:43.3 | First up, Shane Chen's story is one of immorality and, as he describes it, a broken patent system. |
0:51.5 | The Beijing native developed the two-wheeled self-balancing scooter known as the |
0:55.5 | hoverboard for which his patent was approved in 2014. Initially, the $1,000 selling price was a |
1:02.7 | deterrent for general consumers, but Chen wasn't willing to use cheaper materials at the risk of |
1:08.5 | making the hoverboard unsafe. That, however, didn't stop others from taking the steps Chen avoided. |
1:13.9 | The original adventure of the hoverboard may have only produced several thousand, but there's |
1:18.6 | now a market of more than a million thanks to over 11,000 independent factories in China. |
1:25.4 | Despite patents filed by Chen, Chinese companies started churning out cheap knockoffs. |
1:31.1 | Just as Chen suspected, the cheaper models were a hazard. Weaker batteries and improper connections |
1:36.8 | cost fires in early models. According to Chen, it's impossible to sell a safe hoverboard |
1:42.2 | for less than $300. |
1:49.1 | Unfortunately, this matters about as much as Chen's patent does the Chinese manufacturers who continue to produce the cheap knockoffs regardless. |
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