Wednesday, April 25, 2012

It's Literally a Shark Tank



Shark Tank is a reality series on ABC which welcomes aspiring entrepreneurs to share their inventions with well established people in the business world. These filthy rich people include, Mark Cuban, Kevin O'Leary, Daymond John, and Barbara Corcoran. I give the entrepreneurs props for coming on national television and presenting their inventions to billionaires because it definitely looked intimidating. All the panel members seemed nice and willing to listen, but they were very blunt, after all it is their money that they are investing. Every episode they review the inventions of four different entrepreneurs. This week it was an owner of a chain of cookie stores in Indiana, an inventor of exercise clothes, an inventor of a generator that produced electricity and gold (like Mark Cuban said "My BS meter is going DING DING DING"), and the owner of a wine company called "Copa di Vino." For all different reasons none of the panel of investors accepted the entrepreneurs offers.

However, one contestant did stir up some drama with the investors. The fourth contestant actually had previously been on the show and had come back with another offer for the investors. Kevin O'Leary was interested in his business last time, but the contestant turned him down. Why the investors wanted to have stake in "Copa di Vino" was not because of the wine, but because of the new patented technology that came with it (which is explained in the picture above). To make the story short, Mark Cuban and three other investors offered to give him more money than he had asked for, including a 30% stake in his company.  He wouldn't give them an answer so Mark and the others pulled out before he could say no. He was clearly playing games (with some of the most powerful people in America might I add). Bottom line he's an idiot and the only reason he came on the show was to promote his company, it was a total waste of the investors time.

Like I said before I like the idea of the show, but I probably wouldn't watch it regularly. I know absolutely nothing about money or how to run a business so I was lost a lot of the time, which i'm sure others are too. I didn't understand the business jargon they used and when the panel discussed the products financially I would just be like, "okay.... now can you say that in english?"


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