from Hacker News

Shark Tank Recap – April 13 & a Second Chance Pitch

by moses1400 on 4/14/12, 3:33 PM with 3 comments

• by paulhauggis on 4/14/12, 3:46 PM

  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.