I like the Shark Tank, but they mostly prey on desperate people. They want a business that is already proven (no risk), from a desperate person (can't go to the bank, pretty much have no options left), at a ridiculous valuation.
The guy that made and patented the clothes with wires is a perfect example. He was making $10-12 million/year already and I think they low-balled him with an offer that was much less than the current value and included a percentage of the patents.
Remember that it is a tv show - the pitch and presentation is MUCH longer than what we see on tv. Also, I still wonder how many of the deals actually ever close.
You would think that. But I saw a posting from someone on Reddit (and I think maybe HN) that was on Shark Tank and they said that it's pretty much exactly what you see.
But you're right, even if they get a deal on the show, it doesn't necessarily mean it will go through.
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I like the Shark Tank, but they mostly prey on desperate people. They want a business that is already proven (no risk), from a desperate person (can't go to the bank, pretty much have no options left), at a ridiculous valuation.
The guy that made and patented the clothes with wires is a perfect example. He was making $10-12 million/year already and I think they low-balled him with an offer that was much less than the current value and included a percentage of the patents.
But, some people don't have any other options.
Remember that it is a tv show - the pitch and presentation is MUCH longer than what we see on tv. Also, I still wonder how many of the deals actually ever close.
You would think that. But I saw a posting from someone on Reddit (and I think maybe HN) that was on Shark Tank and they said that it's pretty much exactly what you see.
But you're right, even if they get a deal on the show, it doesn't necessarily mean it will go through.