We're talking about The Dragon's Den.我们今天要谈的是《龙穴》（The Dragon’s Den）这档节目。Yes, so Richard, what is The Dragon's Den?是的，那么，Richard，《龙穴》到底是什么节目呢？Well, the BBC describes it as a show where budding entrepreneurs get three minutes to pitch their business ideas to five multi-millionaires who are willing to invest their own cash.BBC 的官方描述是：这是一个节目，让有抱负的创业者在三分钟内向五位愿意用自己资金投资的百万富翁展示他们的商业创意。
We're talking about The Dragon's Den.我们今天要谈的是《龙穴》（The Dragon’s Den）这档节目。
Yes, so Richard, what is The Dragon's Den?是的，那么，Richard，《龙穴》到底是什么节目呢？
Well, the BBC describes it as a show where budding entrepreneurs get three minutes to pitch their business ideas to five multi-millionaires who are willing to invest their own cash.BBC 的官方描述是：这是一个节目，让有抱负的创业者在三分钟内向五位愿意用自己资金投资的百万富翁展示他们的商业创意。
Now it's the multi-millionaires, isn't it Richard, who are the dragons and they can be very fierce indeed.而这些百万富翁就是所谓的“龙”，对吧，Richard？他们确实非常强势。
They're very cutthroat, aren't they?他们可谓是相当“冷酷无情”的，对吧？
So, as part of their opening pitch, the entrepreneurs are required to specify the amount of money they require from the dragons. And what percentage that will get of their company.所以在开场陈述中，创业者必须说明他们希望从这些“龙”那里获得多少资金，以及愿意出让公司多少股份。
Right, the equity, plus they have to say how much they think the company could be worth.对，就是股权比例。此外，他们还得说明他们认为公司目前的估值是多少。
Yes, and then if a dragon or maybe multiple dragons are interested, then they negotiate then and if they're not interested, they simply say they're out.是的，如果有一位或多位“龙”感兴趣，就会进入谈判阶段；如果不感兴趣，他们会直接说：“我退出（I’m out）。”
It doesn't sound exciting, Richard, but it is.听起来似乎没什么刺激的，Richard，但实际上节目非常精彩。
What makes it compelling TV?那是什么让这档节目如此吸引人呢？
Well, the first thing, from the people pitching their ideas, you can see these enthusiastic but very nervous people.首先，是那些上台推介的创业者——他们既充满热情，又紧张不安。
They're just normal people and they're talking for three minutes on something which they're passionate about and they really don't know the reaction of the dragons.他们只是普通人，用三分钟讲述自己热爱的事业，但他们完全不知道“龙”们会作何反应。
And as you've said, they can be quite scary.正如你说的，那些“龙”有时候确实挺吓人的。
Now, on the programme, most of the people walk away with nothing. There are only, what, one or two successful pitches every time.在节目中，大多数人都空手而归。每一期大概只有一到两个成功的案例。
And there are also times when the entrepreneurs, they're so nervous in front of the TV cameras, they completely freeze up.有时候创业者因为太紧张，面对镜头完全僵住，说不出话。
So, who can apply to the show then?那么，谁可以申请参加这个节目呢？
Well, there's a form on the BBC website you can fill in.BBC 的网站上有一个申请表格可以填写。
It's interesting because they say that the final selection for participation in the programme will be decided on the strength of the idea, a robust business plan and a projected turnover.有趣的是，他们说明最终能否被选中要看创业点子的实力、商业计划书的完整性以及预计的营业额。
And this is decided by the BBC, presumably.这 presumably（大概）是由 BBC 来决定的。
Presumably the dragons don't know the product before the people come up to present it.也就是说，那些“龙”在创业者登场前并不知道他们要介绍的产品是什么。
No, and I think also that's one of the exciting things about the programme.没错，我觉得这正是节目有趣的地方之一。
There's a whole range of products and companies that the people present.上节目的创业者展示的产品和公司种类非常广泛。
Now, as we said, most people don't get a deal. However, sometimes the dragons turn down people who become very successful.正如我们说的，大多数人没能成功融资，但有时那些被拒绝的人反而后来大获成功。
Yes, one such guy was a guy called Sean Palfrey and he invented the Tangle Teaser.是的，其中一个例子是一位叫 Sean Palfrey 的人，他发明了“Tangle Teaser”（解结梳）。
He got turned down by the dragons but he had a hairbrush that also smooths knotted hair.他被“龙”们拒绝了，但他的发明是一种可以轻松梳顺打结头发的梳子。
And he appeared on the Dragons' Den in 2007. He offered 15% of his company Tangle Teaser for £80,000 but was rejected.他在2007年登上《龙穴》，希望以公司15%的股份换取8万英镑投资，但遭到拒绝。
And what's more, they were very, very negative about his product.更糟的是，“龙”们对他的产品评价非常负面。
However, when the episode was aired on TV, his website crashed as a result of the public demand and they immediately placed 1,500 orders for the Tangle Teaser.然而，当那期节目播出后，他的网站因访问量过大而崩溃，公众反而立刻下了1500份订单。
Subsequently, two years later, the brand had turned a profit and started to expand into a global market.随后两年，这个品牌实现了盈利，并开始向全球市场扩张。
Where is Tangle Teaser today then, Richard?那么，Richard，现在的 Tangle Teaser 发展得怎样了？
Well, I checked up on this and Tangle Teaser are expecting to post sales of close to £30 million.我查了一下，Tangle Teaser 预计年销售额接近3000万英镑。
This is 2020 and the brushes are sold in over 75 countries.那是在2020年，他们的梳子已在75个国家销售。
So they turned down a fantastic offer.所以，“龙”们错过了一个极其优秀的投资机会。
I'm not sure if we went on.我不确定我们是否要继续。
