'Shark Tank', the new series on ABC premiered last month on ABC. An ardent fan of the UK version 'Dragon's Den', I was excited to finally watch it without being at the mercy of youtube. So how do Sharks compare with the Dragons? Well its a mixed feeling.
The UK Dragon's looked like a good mix of individuals working well with one another. The camaraderie between them was unmistakable. The Sharks on the other hand seem like trying to establish their expertise in their field. They constantly work at pulling fast ones on each other. Unlike the Dragons, the Sharks seem to cling on to their individual claims to fame as well as the expertise that they bring to the table. Daymond John, though accomplished in the fashion industry, does not step out of his comfort zone. Same can be said about Kevin Harrington, who does not entertain the idea of dealing with ventures outside of the infomercial realm. Barbara Corcoran brings her real estate experience and does not bat an eyelid to enter into a venture outside of her industry if she is convinced to invest. She is spiteful at times and gets into deals with the intention of getting under the skin of another dragon.
That brings me to the two Sharks that make this show worth a watch. They are the 'Good-cop Bad-cop' routine which works magic on screen. Not sure how that goes down with the participating entrepreneurs though. The Bad Kevin as he is called, Kevin O'Leary coins a line worthy of competing with "You're Fired" by Trump as well as "It's Hot" by Miss Paris. Every time someone turns down his advances he says "If you turn your back to me. You are Dead to me!". It makes great television. He is unashamed to paint himself as someone driven by money and money alone. He goes after any opportunity which has a promise to get him dough. The good cop, Robert Herjavec is the best shark on the show. He is polished, polite and is unwilling to let go of his morals when an entrepreneur is in a rut and about to give in more than he/she can comprehend later. He comes across as someone who has had success without trading his soul to the devil. Kevin and Robert are at each other on every deal possible. But they end up partnering on almost all deals that either one goes for; Which makes us learn an important lesson. You don't have to like someone to work with the person.
So what's missing from the Shark rendition of the VC story? For one, there is no money on display. And it shies away from the warehouse set. The show could use some more charm. Theo Paphitis and Duncan Banatyne were amazing Dragons keeping the UK show interesting. Another stark difference from the Dragons, is that the Sharks seem to be all about wetting their beaks so to speak. Although that is the case with all VCs, it is something that can be masked a little. Sans a few entrepreneurs who are able to heckle the Sharks, the others seem like getting a medium rare if not a raw deal. In terms of approach, James Caan had an amazing way of getting a deal with each entrepreneur. He offered to get a good amount of equity from them but was willing to relinquish part of that on the condition that the sales numbers are met. Now that really feels like a business deal rather than the quest for 51% stake on the Sharks' part.
