18 November 2019 | braquecubism
used to love it- deals often don't go through- fun facts!
I met someone who was on shark tank. Deal was with O'Leary & 1 other. they promised all kinds of help, website, their teams would get them social media, promotion, distribution, commercial kitchen, food product local success in So CA. . They didn't do anything they promised, but contract obligated this single mother, worked hard to survive and make this Co,, to give them the profit share money anyway. this seems like an OUTRAGE; should be reason to break the contract.
so it is reported, many don't get the deals promised, or the money. OK after investigation, something not as demonstrated or reported. But I think it is more, that in the heat, they compete, create TV- these "sharks" have to get paid by the show- any of them have to be pitched investments daily. but they don't follow up. Yes, some are a big success. they don't talk about the failures. Cuban in an interview said, some, the entrepreneurs just don't work at it, and don't understand what's needed, Are impossible to work with, and he loses, but his successes pay off.
sometimes they pass, when I think their evaluation is completely wrong. for instance. Some table to improve coffee, You have to use distilled water. I still can hear Barbara saying, no one will drag gal. bottles of water home. We In CA, NY, drink bottled water, altho our water is safe. I always have gal bottles of spring water at home, and most have mineral water too. For the taste, and extra minerals. no one invested. I have looked for it.
Another had corn chips made out of a better tasting, more food value, corn flour, baked not fried. when they explained, I realized what most chips are made from, and I realized most chips are tasteless. Its texture and salt- & taste is in the dip. Sharks, thought that it was "too expensive" and no one would buy it. these people have never shopped Trader Joes, Whole foods- it would have flown off the shelves- still looking.
They passed on camera at door bell hooked up to your phone with video- Co. sold for over a billion. I knew right away it was a big winner. Inventor even showed up as a 'shark" on 1 show-They didn't realize the value or that someone like me, in an apartment has no security and can't buy an expensive system. and that this was cleaver and needed. for about $200, affordable.
some things they buy into, I think, if I had the Shark distribution, and their push, even on a poor item, I could succeed. QVC, HSN, has inherent problems, they take back everything, even a washed T shirt within 30 days, and the invendor is charged back. Barbara has mentioned it off hand. The corduroy bag, bed, Lorie bought into and sold big on QVC- I saw it on CraigsList, and so I checked (thinking of buying) Read some horrible, really bad reviews on line. Really a bad product. if they force buyer to pay return shipping- it can be expensive. Lori seems to have more at Bed Bath, and DYI stores now.
These are just a handful of examples.
Now it's their money and time, so they should choose who they want to support, and how they want to invest. But they make it seem like it's done on merit, investibility, or their WISE business acumen. some things, I am amazed at the supposed sales, before and after. is it real?
Their criteria for choosing or rejecting companies, sometimes I think they are "generous", other times Sharks ask too much. of course some of the Co.s inventors ask for too much. they are in LaLa land, based not only on their sales, but their profitability. and assume they can get to a big market share- in future. sometimes it's not unique and they are swimming up stream; or I think the item is over-priced for it's use, or limited market (niche products are not bad, but maybe not for an investment) Other times, like Robert invested in ugly holiday sweaters, and has reported expansion and sales at 8 million. it's just ugly clothes in a highly competitive market. Damian, often explains the problems with clothes , shoes and extensive skus. Kevin often wants 3X back his investment and than an equity share- or they agreed to short-term payback, which drains capital from the Co., which they need it. Cakes mail order and expensive cupcakes in a glass jar- sold on line- really. where are all these buyers. theses millionaires don't NEED to invest- and are pitched all day if they allow it.
I went on line and watched Dragons' Den UK, and Sharks Tank AU. Much the same. so I Overdosed on binge watching.