The Most Problematic Aspect Of Shark Tank According To Fans
While there are things you may not know about "Shark Tank," it has proven to be a top-rated show over the years. Starting in 2009, the show is on its 14th season and doesn't seem likely to slow down anytime soon. "Shark Tank" has become a platform for aspiring entrepreneurs to bring their business before a panel of high-stakes investors known as Sharks and give their pitch.
In many ways, this is a decent platform for small businesses and people trying to get their products off the ground. Not only do they have the potential to earn money, partnership, and mentorship from a Shark who has been wildly successful in their field, but they also get some potentially profitable exposure just from being on the show. Even entrepreneurs that don't end up leaving with a deal can benefit if their product catches enough interest from viewers.
That said, "Shark Tank's" episodes aren't without flaws. Heavily criticized for the Sharks' inconsistency in business advice and what deals they're willing to make, the show has seen backlash the longer it goes on.
Some fans think the show deliberately ruins small businesses
Although "Shark Tank" is designed to give a platform to small business owners who need help making their dreams a reality, the truth is the series has done a lot of harm to them as well. From humiliating certain pitches that the Sharks don't like to taking an obnoxious amount of equity because they're Sharks, the show isn't exactly what it's painted to be.
The show's production company, Finnmax, initially took money or equity from every business that appeared on their show, whether they got a deal or not. Known as the Equity Clause, contestants would have to give up a small percentage of their company's equity or earnings to secure a place on the show. Mark Cuban stood up against this, threatening to leave the show if they didn't get rid of this outrageous stipulation.
While Finnmax did terminate the Equity Clause, that hasn't addressed fans' other concerns about the show. One of the biggest complaints is that the Sharks are inconsistent, greedy, and unrealistic. As fans do, they took to Reddit to voice their opinions.
Reddit user FoolishClownfish said, "It is annoying because it is almost a gross parody of the real entrepreneur world. The deals are ludicrously bad, the 'sharks' are caricatures, and many so-called entrepreneurs are just downright stupid." Many fans share this sentiment and agree that the show is crafted for entertainment than helping small businesses.
Some businesses Shark Tank features shouldn't even be on the show
Reddit user TheMuguffin started a "Shark Tank" discussion listing all the things they found irritating about the show. While the initial post is long-winded, it points out many issues with the series that have only become more prevalent as it continues.
In addition to sabotaging small businesses, "Shark Tank" features many companies that don't need to be featured, and it's frustrating to watch the attention-grabbing. TheMuguffin said, "The show has been more about large(ish) companies that seem like they want to go on the show for the advertising benefits and then walk away without giving up any equity because of their impossible valuation/equity offer."
In many ways, bringing in businesses that are already self-sustaining and are only looking for publicity harms the small businesses the show is supposed to be for. Even some of the Sharks have actively spoken out about this or called out pitches just looking for publicity. Daymond John, for example, has been vocal about this numerous times. He's got a good reputation for calling out entrepreneurs who don't need them for taking away space from someone who does.