Credit: Business Insider
Highlights
- Mark Cuban has been one of the most loved investors due to his compassionate attitude on the show.
- In his twelve-year journey, there have also been pitches like Esso Watches and Pavlok where Mark severely criticized the investors.
- Minus Cal was another pitch that showed his brutal side when he asked the viewers not to buy the brand’s offerings.
If you are an avid Shark Tank viewer, you must have seen Mark Cuban congratulating entrepreneurs even if he may not be a part of their deal. His guidance to young entrepreneurs, as seen during the dramatic Trippie pitch, further shows his benevolent side to the audience.
But the same Shark has often gone hard on pitchers if he found the pitch to be dubious. There have been several cases in the last twelve years when Mark has called out entrepreneurs for exaggerated claims.
Read below to learn in detail about the top pitches called out as ‘scams’ by Mark Cuban:
1. Minus Cal
The entrepreneur duo of Crom Carmichael and Barrett Jacques went to the investors seeking $500K for 20% equity in their brand. Little did they know that Mark Cuban would aggressively criticize their business and ask the viewers not to buy their products.
Highlighting the growing obesity issue across the nation, Barrett and Crom started their pitch with a small act demonstrating the core idea of Minus Cal. They described their different ‘fat blocking’ products, including science-based snack bars and diet tablets that blocked fats after meals.
The main ingredient of the products was ‘Choleve,’ which was a green tea extract. Crom then claimed to have been using the pills himself for the past twelve years, which helped him lose cholesterol. He also stated that if used straight for 8 weeks, you could shed some pounds.
Mark instantly questioned them about their claims of weight loss by simply taking the pills. He even interrupted the other Sharks if they showed any signs of making an offer. Initially, Robert Herjavec had a small argument with Mark about his attitude. Later on, he too pointed out the ‘lose weight’ label on their packaging.
In the end, none of the investors invested due to the fear of false claims. Mark Cuban gave his concluding remark to the viewers, asking them not to purchase the ‘scam product.’ The latest update about Minus Cal is that the company is no longer in existence.
2. Esso Watches
Brought to the Sharks in the initial seasons of the show, Esso Watches was another pitch that faced harsh remarks from Mark Cuban. The pitcher, Ryan Naylor, made his way to the panelists seeking $35K for 20% equity in Esso Watches.
The silicone watch company focused on creating fashionable designs supported with negative ion technology. Ryan further highlighted its functioning by explaining the interaction of ions with human bodies.
He stated that our bodies are bombarded with positive ions emitted from electronic devices every day. Excessive exposure to positive ions puts pressure on us. Esso Watches, which contain negative ions, help combat the positive ions and enable our bodies to get back to their natural state.
To help them understand the product better, Ryan handed out samples to the judges. Mark Cuban refused to get one. On seeing this, Robert Herjavec asked him if he was allergic to ions, to which he replied that he was allergic to “scams.”
The other investors, including Robert, Daymond John, and Lori Greiner, also felt the claims to be false. They refused to invest. But Mark was annoyed the most and said that Esso Watches was not a new invention, had no scientific proof and was not real.
The company officially closed after a legal suit by its owner, Exxon Mobil.
3. Pavlok
In possibly one of the most heated episodes, all of the Sharks lost their cool on Pavlok founder Maneesh Sethi, who sought $500K for 3.14% equity. Mark Cuban, who seemed visibly irritated during the presentation, even called the pitch a scam.
Pitching his ‘shock clock watch’ Pavlok, Maneesh went to the judges and described how the product attempted to help get rid of bad habits and create good ones. The wearable helps in tracking what you do and even changes all that you do. He then went ahead to explain the scientific background behind its working.
But none of the panelists seemed impressed or interested. Robert Herjavec was not happy with the proposed valuation. Lori Greiner criticized the entrepreneur for the lack of scientific proof. Kevin O’Leary did make an offer, but Maneesh rejected it, saying he was not a good fit for his business, which infuriated Kevin.
Mark Cuban was so annoyed with his answers that he even called him a “con artist.” After its Shark Tank appearance, the company has sold only 10,000 units to date.
To Conclude
Mark Cuban, in his long Shark Tank journey, has often called out pitches that are misleading. Although he may come across harshly through his feedback, his comments act as a reminder for budding entrepreneurs to come thoroughly prepared on the show.
From exposing dubious claims to questioning unproven theories, his honest approach helps to keep the show’s integrity intact.
References
1. Where Is Esso Watches From Shark Tank Season 13 Today?, Health Digest
Entrepreneur, auteur, raconteur. Rob Merlino is a blogger and writer who enjoys the Shark Tank TV show and Hot Dogs. A father of five who freelances in a variety of publications, Rob has a stable of websites including Shark Tank Blog, Hot Dog Stories, Rob Merlino.com and more.
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