The Worst Scam in Shark Tank History

crazy I'm just asking you has anybody ever said to you you're crazy I'd like to ask you to give this video a thumbs up if you're a fan of shark tank join the notification squad by subscribing and hitting that Bello notification on but also don't forget to comment down below saying I subscribed to enter our monthly shout outs and we'll make sure to reply and thank as many of yous will possibly can hope you enjoyed the video if you have a great idea for our product but our liking the financial means to realize it it can be a good idea to jump into ABC's Shark Tank and pitch your idea to the shells 5 millionaire investors the experienced entrepreneurs have invested a lot of money but even though they always watch out for possible malinvestments there have been times when they were cheated out of a lot of money while other times they managed to notice the warning signs in time so put on your swim fins as we take a look at ten times the Sharks almost gut scammed we'll dive right in with an invention that was so ridiculous it could almost be called a scam and fortunately none of the Sharks fell for it during season 4 of Shark Tank a man by the name of Bruce Gaither pitched an idea that involved using dog poop to attract flies to his all-natural trap and he asked for twenty five thousand dollars in exchange for 15% stake in his company Daymond remarked that he was kind of creating the problem by leaving the poop outside an even Family Guy creator Seth MacFarlane couldn't help convince the Sharks of the no fly cone on the contrary they actually laughed at the fact that Gator brought a spokesman who doesn't even have a dog and while this was certainly a very entertaining moment in the show and Gator got points for bringing his cute dog along it wasn't even close to being enough to get him a deal with any of the Sharks [Music] Mark Sullivan marketed himself as an entrepreneur songwriter ladies clothing designer and inventor during his pitch in shark tanks third season and left the celebrity investors rather confused he came to present his sullivan generator a machine that produces natural energy from Earth's rotation and conveniently enough gold as a by-product Sullivan had the vision of developing this new technology and leave a lasting legacy of goodness but even though he had apparently already invented over 1,000 products that make over 1 billion dollars a year in profits the Sharks seem to find it hard to believe anything he was saying or to just keep a straight face the pitch sounded so out-of-this-world that Robert asked Sullivan how long he was visiting earth for and Daymond wondered if anyone had ever called him crazy Sullivan was not shaken by that however and when none of the sharks wanted to give him a deal he simply stated that they probably just didn't get it while Sullivan might not have come with bad intentions and possibly even believed what he was saying this whole thing definitely sounded like a bit fat scam and the Sharks were able to spot this one a mile away it is common knowledge that a lot of the deals made on the air and shark tank fall through once the cameras arrive and one of those deals is the one that Robert Herjavec made with Megan Cummins while a lot of deals fall apart during the due diligence process this one was different as Cummins actually found a different investor after the show leaving Robert with some regrets Cummins had presented her luxury soap company you smell soap to the Sharks and left with a $55,000 deal from Herjavec in exchange for 20% of her company as well as the promise of an annual salary of $50,000 after the show however Cummins claimed to have received a contract by Herjavec offering her $55,000 for half her company was she of course rejected and their deal was never closed instead she found a different investor and business started picking up before she eventually sold her company [Music] next up is another deal that was made in the show but didn't actually go through after the episode aired and it is also another one that Robert Herjavec made it all started when Doug Stewart ripped when running in the dark one night after the incident he and his wife Renata came up with the idea of running shoes with rechargeable LED lights that light up portrayal and after their pitch Robert offered to invest two hundred and fifty thousand dollars in exchange for 15% of the company after the show aired however the couple received offers from over 300 companies worldwide that would have bought their product which meant that they didn't need Roberts investment anymore and the deal fell through now taking that risk certainly paid off for the stores and they ended up selling their web site later to make 1.5 million dollars in revenue in light of this success story Robert might have felt cheated out of some money though bill Lyons came to the Sharks in season four pitching his idea of a website called Rev ester a real estate search engine of the future he was looking for 250,000 dollars in exchange for 10% equity in this company Lyons claimed to have created an algorithm that would help people invest in real estate as it allows you to see a houses value in the future when Lyons said that the customers would pay $100 per month to have access to the website Mark Cuban outright stated that he hated the business and was out the other sharks appeared to be very skeptical as well and were confused when Lyons first said that he targeted first-time homebuyers before later claiming that he targeted both typical first-time buyers in house flippers the investors told him that he was speaking from both sides of his mouth and had no business concept which made him appear to be a con artist although none of the Sharks invested the reverser website still exists and there is even a free app associated with it however the app only has a two point five star review so it seems like Lyons business still has some work to do [Music] being experienced entrepreneurs and investors the Sharks usually know right away when a business idea doesn't work or appears to be a scam when maxvill verde from boston massachusetts fished this idea of morning head a cab for curing bet head hair in the show in season five the investors couldn't stop laughing during the pitch they basically call this cap a scam as it was a diaper you put in your head according to Damon's or at least simply a shower cap with a bumper sticker even though Valverde claimed to have sold around seven thousand caps in over 42 countries the Sharks didn't fall for the scam this time is none of them invested and Valverde had to go home without a deal there are different ways to scam the Sharks but the most frequent ways to surely pretend to be looking for an investment but really just use the show for one's own advertisement this is also what the Sharks accused Adam Tish hour of doing in season seven of Shark Tank Tish our entered the tank and introduces sleepaway camp for adults camp no counselors he was asking for $300,000 in exchange for 7.5 percent equity stake in his business but even though the Sharks liked the business model of the camp like resorts none of them was interested in investing Mark Cuban remarked the Tish hour was a party promoter instead of an entrepreneur and Daymond John went even further calling him a gold digger who wasn't actually looking for any investment but rather wanted to promote his camps on TV now whether Tish hour was really looking for an investment or was actually just in the show for free advertisement it certainly did help his business as cap now counselors have since expanded to a different cities and have been featured in several newspaper and magazine articles next up is one of the most memorable scans in Shark Tank history during the show's first season a woman named Gayla Bentley introduced her fashion line for women over size 12 to the sharks and ended up making a deal with Daymond John and Barbara Corcoran for 250,000 dollars in exchange for 50% stake in her company Gayla Bentley fashion after filming the pitch the three worked out the details of the investment in Bentley eventually received the money however the Sharks then never saw or heard from her again in the company closed within a month or two and although the website is still online it hasn't been touched in almost 10 years both Daymond and Barbara have called this their worst investment ever and it is surely one of the worst failed deals and the biggest ripoffs in the show's history in February 2012 Ryan Naylor introduces s o watches to the Sharks the timepieces were built and teased with negative ions which according to Naylor worked against the positive eyes we're bombarded with by electronic devices and bring the wearer's body back into balance by restoring an ideal energy field he was asking for $35,000 in exchange for 20% of his company and the fact that he had sold over 110,000 dollars of essa' watches in the previous year certainly intrigued kevin O'Leary while Lori agreed to put the watches to test and they seemed to improve her balance mark immediately bowed out saying that technology was a joke and he was allergic to scams the other sharks became more and more skeptical too as Naylor didn't have any tests or data backing the technology up and on top of all that Daymond then accused him of stealing the design of his timepieces from another company eventually kevin o'leary said that he would consider investing if Naylor admitted that the negative ion technology was a scam but the entrepreneur wouldn't do it affirming his belief in the technology and going home without a deal in the end our number one is a scam that all five sharks and the company's customers unfortunately fell for in season five of the show Charles iam introduced his breath o meter and the Sharks decided to go in on the deal Mark Cuban Kevin O'Leary Robert Herjavec Daymond John and Lori Greiner gave him a total of 1 million dollars for 30% of the company that produced a portable device that claims to measure someone's blood-alcohol content using their smartphones within the first two years the company became so successful that it made thirty million dollars in sales but in 2017 the Federal Trade Commission charged Berthe meter with fraud for not correctly representing the accuracy of their products because the app proved unreliable they eventually settled the claim but breath o meter had to offer full refunds to consumers who requested them and the Sharks were surely not amused thank you for checking this video outs and don't forget to smash that like button and also subscribe for new videos every day turn that Bell notification on and comment down below that you subscribed and we'll make sure to reply and thank as many of you as we possibly can once again thank you for watching and see you next time [Music] [Music] [Music] [Music] [Music]

Channel: The Filmy

Views: 1,187,243

Rating: 3.034462 out of 5

Keywords: entertainment, movie, tv show, shark tank, business, investing, shark tank episodes, mark cuban, lori greiner, robert herjavec, daymond john, kevin o leary, barbara corcoran, shark tank moments, shark tank business

Id: X1MpQfCe_GA

Length: 11min 33sec (693 seconds)

Published: Wed Oct 03 2018