Why Shark Tank does more damage than good for the future of Australian startups
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Feb 14, 2016
4
min read
Startups lead to a balance of power and wealth. Historically, only a small number of wealthy individuals owned a majority of the world finances, but in the new world anyone with a good idea and guts can make it happen. Startups disrupt this. The good guys and gals that exit go onto to continue to distribute their wealth. Note to Atlassian founders - don't forget this.
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Learn MoreThe judges on Shark Tank are exactly that. They have broken the rules and redistributed the wealth, but right now they are preaching the complete opposite and contradicting what they originally set out to achieve. Those deals they offer are dirty. Sure, they have a wealth of knowledge, but they are setting norms for future Australian investors and entrepreneurs.
Sure some of the ideas and pitches are entertaining to watch, and the show provides lots of exposure for the panel. The buck stops there. If you're an entrepreneur or investor I recommend you look beyond the shores of Australia and meet some Investors and entrepreneurs in the valley. Bring back what you learn from those relationships and base decisions on these.
And doing deals like these, not only reduces the chances of entrepreneurs shifting wealth around, but also means less people are going to take a risk and start a company.
Bugwolf helps digital and delivery teams release software faster with more confidence by unblocking the software testing bottleneck and increasing testing coverage.
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