Shark Tank: Big Pharma is in the tank with them [acupressure]

[Lucille]

So on Fridays show, this lady came on (totally unprepared mind you) with her "stylish" acupressure wrist straps for nausea and/or motion sickness. The sharks freaked out, clutched their pearls, and called her a snake oil salesman. She had no research with her, so she has no one to blame but herself. But it was obvious to me at that moment that they're in the tank with Big Pharma. It was kind of ridiculous how appalled they were; swooning, fanning away the vapors, looking for the nearest fainting couch.

How can they be unaware of how effective acupressure is? She got FDA approval, for crying out loud. There's plenty of research. Why she didn't bring it to defend her product, I'm sure I can't say.

Kevin was the only one who didn't freak out, and he made her an offer but she stupidly turned it down without even make a counter offer.

My oldest gets car sick if he's in the back seat, and those things work. Also told BIL about it before he went on a deep sea fishing trip. He was pretty worried about getting sea sick, so he bought them, put them on, and while everyone else was puking over the side of the boat, he was in the galley eating patty melts.

 

[phill4paul]

I'm not exactly sure of the merits of it having never tried it. I think more than likely it had to do with her being unprepared to back up her claims. These guys can be pretty ruthless if someone doesn't bring their "A" game. As to the offer Kevin gave I think one of the other contestants said it best..." I'd rather have a smaller percentage of a successful product than a large percentage of an unsuccessful one."

 

[Austrian Econ Disciple]

FDA approval doesn't mean anything lol. I find these dubious to be honest. In fact, they're probably better used a little higher up on the forearm for lateral epicondylitis.

 

[Lucille]

I'm not exactly sure of the merits of it having never tried it. I think more than likely it had to do with her being unprepared to back up her claims. These guys can be pretty ruthless if someone doesn't bring their "A" game. As to the offer Kevin gave I think one of the other contestants said it best..." I'd rather have a smaller percentage of a successful product than a large percentage of an unsuccessful one."

She has some research up on her website. I don't know why she let them get away with calling her a fraud and snake oil salesman.

I would have done a lot of things differently than her (also, they're pretty fugly!) but she should have countered with a lower percentage, say 25%. She also could have offered him a cut of each one sold too, like they've done before. She has a lot of debt too.

FDA approval doesn't mean anything lol. I find these dubious to be honest. In fact, they're probably better used a little higher up on the forearm for lateral epicondylitis.

Well, that's not the point that 2000 years of TCM has used to treat elbow pain, but whatever you find!

The FDA approval should have mattered to them though. It has before.

 

[Zippyjuan]

The investors on Shark Tank care about one thing- how much do they think they can make off the idea/ invention. How many can they sell and how much do they think they can make off each one of them. If it works or not is not the #1 concern.

 

[Lucille]

The investors on Shark Tank care about one thing- how much do they think they can make off the idea/ invention. How many can they sell and how much do they think they can make off each one of them. If it works or not is not the #1 concern.

Not this time. They made a big deal of it, and were appalled at her claim that it can help alleviate nausea from chemo (see the research link) and they called her a fraud and a snake oil salesman. I hope she sues them.

 

[green73]

I hope she sues them.

 

[Zippyjuan]

Just watched the whole video. The only person who said anything about it not working was Robert when he said he had personally strong feelings against claims it could help anybody with cancer. Mark asked her if she had any figures for a percent of people who benefited from using the product. She could not provide any numbers. That is why he was out. All about the numbers. The rest rejected her for business reasons. (and not seeing the "big pharma" connection the thread headline includes).

From the episode link:

DO THE SHARKS BITE? Barbara says it's hard for an investor to watch someone write a check to themselves because they believe they are owed money for work they did in the past. She's out. Mark is upset because Romy doesn't have any real research and development to support her claims that this truly does help people. He's out. Robert has no problem with the pursuit of profit until someone tells him it helps people with cancer as Romy claims her product does. He's out. Daymond doesn't trust Romy, so he's out. Kevin will give her $250k for 40% of the company. Romy is set on sticking to her original offer though. Kevin says she's dead to him. In other words, he's out.

Aside from the cancer comment she got treated the same as everybody else who goes on the show. The peanut guys have an interesting product- if they can get the costs down. The current price they quoted is about four times the price of regular peanut butter.

 

[TCE]

Unfortunately, they seem to show more of the shady natural health people, although that could be random sampling. The guy with the watches with the ions was laughed out of the tank, but other "Green" folks have been listened to. I am not ready to claim conspiracy just yet.