Billionaire Mark Cuban is sounding the alarm over rampant scams.
These scams take advantage of the success of the reality TV show “Shark Tank,” of which he and other famous investors are the stars.
The entrepreneur has just blasted the Federal Trade Commission, the role of which is to protect America’s consumers. Cuban told the regulator of a phenomenon that risks misleading many consumers and individual investors.
Many companies are lying about being connected to “Shark Tank” to sell their products to consumers. For example, some businesses say they participated in the show and have the support of one of the sharks for their products, according to the entrepreneur.
Some companies go so far as to say that their products have a shark’s blessing.
Other companies impersonate companies that were backed by “Shark Tank” investors to defraud potential investors and consumers.
The phenomenon is such that all the sharks of the famous show had to record a message of warning intended for the public. But first, let’s review how “Shark Tank” works.
‘Beware of Fake Ads!’ – Show’s Investors Warn
The concept: On one side are entrepreneurs who have a creative project, or have an existing business that they want to take to a new level.
On the other side are investors, entrepreneurs who have earned tens or hundreds of millions of dollars with their businesses and who are on the lookout for innovative concepts that have the power to change the game.
An entrepreneur presents a project and tries…
