ABC’s Shark Tank is charging through its 18th season. For nearly two decades, the popular reality series has invited aspiring entrepreneurs to pitch their products and businesses to a panel of self-made millionaire and billionaire investors, hoping to secure a deal. The show continues to draw viewers who cheer on everyday people pursuing the American dream. “It’s still very inspiring after all this time,” Shark Robert Herjavec said. “Anybody watching our show in their basement in middle America can invent a great product or a great business, end up on Shark Tank, and change their life.”
“Now is the perfect time to inspire the next generation of entrepreneurs,” said Rashaun Williams, pointing out that many people “don’t have access to capital or information necessary to take their businesses or products to the next level.” As the show’s newest permanent Shark, Williams values the platform’s ability to offer promising innovators “a once-in-a-lifetime opportunity to achieve all of the things that they’ve always wanted.”
Although the Shark Tank formula remains familiar, Shark Daniel Lubetzky said the series continues to “evolve” by adding high-profile guest investors. This season’s lineup includes creator Mindy Kaling, former NFL star J.J. Watt, Dragon’s Den Dragon Steven Bartlett, Favorite Daughter founders Erin Foster and Sara Foster, and YouTuber Mr. Beast. “We’re doing a lot more social media-forward work, and nobody does that better than Mr. Beast,” Lubetzky said.
Herjavec and Kevin O’Leary, better known as Mr. Wonderful, have appeared on Shark Tank since its first season. Even with their demanding business careers and years of investing in entrepreneurs, both remain dedicated to the show. “We are the ambassadors of the American dream, every one of us,” O’Leary said. “During these really difficult political times, we’re bipartisan. We create jobs for red or blue, Democrats or Republicans. We just love doing it.”
Herjavec, Lubetzky, O’Leary, and Williams recently visited the Decider studio to discuss Season 18, reveal what they think of their fellow Sharks, offer guidance to entrepreneurs, and talk about what lies ahead for the series.
DECIDER: Season 18 of Shark Tank is in full swing! How does the series stay so fresh after all these years?
KEVIN O’LEARY: Over the years, we’ve realized that Shark Tank is about two years ahead of the market. Products featured on the show now will likely appear on store shelves in 18 to 24 months. We get an early look at what is driving America.
ROBERT HERJAVEC: Anyone watching our show from a basement in middle America can create an outstanding product or build a great business, make it onto Shark Tank, and transform their life. That remains incredibly inspiring, even after all this time.
RASHAUN WILLIAMS: I agree with Robert. This is an ideal moment to inspire the next generation of entrepreneurs. People are dealing with gas prices and many other challenges, and they often lack the capital or information needed to move their companies and products forward. When they appear on Shark Tank, they receive a once-in-a-lifetime chance to gain the resources they’ve always wanted.
RH: Isn’t one of the show’s greatest strengths that we’re teaching America the language of money?
DANIEL LUBETZKY: Absolutely, and the show is adapting with the times. Mr. Beast appeared in our season premiere, and we’re putting much more emphasis on social media. Nobody does that better than Mr. Beast. Steven Bartlett also joins us this season. Some of the most influential leaders of our era are now stepping into the Shark role.
On that note, there are so many amazing guest Sharks this season, including Mindy Kaling, J.J. Watt, and more. Who surprised you the most out of this group?
KOL: The Foster sisters, Erin and Sara, really impressed me. They were wild, and we had a tremendous amount of fun with them. They’re witty, entertaining, and completely captivating. They walked onto the set as if they already owned the show.
RH: J.J. Watt was fantastic. I expected him to be good, but I was genuinely surprised by how well he understood the realities of running a business.
RW: It’s amusing that people view these guest Sharks simply as judges. They’re actually there to write real checks and help entrepreneurs grow their companies. I think viewers will appreciate the range and diversity of the guest Sharks this season.
Robert and Kevin, you are two of the longest-running Sharks on the series. What keeps you coming back to the show year after year?
RH: Kevin. I only do the show because I love Kevin [laughs]. Seriously, I enjoy giving back. I’ve been extremely fortunate in my life, and I feel grateful to be in this position. About 20,000 people applied for the show last year, but we’ll see only around 150 of them. When those entrepreneurs step onto the carpet, they’re standing in the middle of their dream. It may sound cliché, but we have the chance to change their lives, and I find that deeply inspiring.
KOL: Every one of us is an ambassador for the American dream. America’s greatest export isn’t energy or oil—it’s the American Dream. Even in these politically difficult times, we remain bipartisan. We create jobs for people on both sides, whether they’re Democrats or Republicans. We simply love doing it.
Rashaun, congratulations on your first season as a permanent Shark! The series is also filming in your stomping grounds—Atlanta. What did you think about the location change? Is Atlanta the next hot spot for entrepreneurs?
RW: Atlanta has been a major center for entrepreneurship—particularly in sports and entertainment—for a long time. I’m thrilled that entrepreneurs from across the country can visit and experience Southern hospitality. They don’t face the same pressure found in Los Angeles or Hollywood. That gives them room to set aside their assumptions about Shark Tank, entrepreneurship, and raising capital, and simply be themselves.
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We were able to see some entrepreneurs who haven’t really had access to capital before. That’s such an important part of keeping this American dream alive, right? In my venture capital world, we see the same guys from the same schools with the same CVs backing them, whose uncles gave them $2 million to start their business. On Shark Tank, we saw a farmer from the Midwest who was selling sunflower seed oil. We saw a guy from the South Side of Chicago. It’s just all these different people. People who are looking for a new chance at life now come to Atlanta. We had an amazing time.
Daniel, you are an amazing judge of character. What makes Rashaun and Kendra Scott such great additions to the permanent panel?
DL: Besides their looks? [Laughs] Besides being a very handsome set, they’re just great people. Kendra and I have known each other for many years. She and I are very good friends. Rashaun and I have become very good buddies. Rashaun, when I listen to him give advice, I often find myself thinking, “Oh wow, I hadn’t thought about this.” I’ve been there eight seasons, and all of a sudden, Rashaun is bringing in new insights. It’s incredible. I love learning from him. Kendra’s also very intuitive. She also understands people very well, and she’s very passionate.
Kevin, you mentioned the Foster sisters earlier, but I think it’s incredible that you were the lone male shark on Episode 2 this season with Lori Greiner, Barbara Corcoran, and the Fosters. What was it like to be faced with so much girl power?
KOL: I crushed them like the cockroaches they are [laughs]. I’ve been working with the Sharkettes for a long, long time. I know them all very well. What’s great about Lori and Barbara is that they have different perspectives. They connect with entrepreneurs in a different way.
DL: You were talking about judging character earlier, and that’s where Barbara excels. She gets to the essence of the person.
KOL: She doesn’t care about the numbers.
RH: She doesn’t know the numbers [laughs]!
DL: But guess what? She does really well by listening to her gut.
RW: [Laughs] She’s always like, “I’m not going to invest in your company, but I want to marry you.”
DL: She said that to me in front of my seven-year-old son when I first met her [laughs]. I was like, “What is going on?!” Then, you just fall in love with her because Barbara is just so authentic.
KOL: The truth is, her returns have been just as good as anybody else’s. She invests in character alone, not numbers.
Rashaun, you recently joined former Shark Mark Cuban and your firm Harbinger Sports Partners to acquire a stake in the Athletics. What inspired this decision? Also, do you give Mark all the Shark-y gossip?
RW: I am giving him all the gossip, and he’s planting jokes and little secrets with me to help me have a competitive edge on the show [laughs]. But yeah, he and I share a passion for sports. Mark has a wealth of knowledge as an NBA owner since 1999. Our other partners include the former CFO of Major League Baseball. We put this whole group together, and we put our own money into these teams. We’re helping Americans for the first time have access to professional sports teams. For a hundred years, the average American couldn’t do that. Now they can invest through a private equity fund and have access.
Sports owners are notoriously successful people and billionaires. There’s one person who I’ve seen sports owners listen to and take advice from and it’s Mark Cuban. I don’t care if their net worth is 100 billion.They will listen to Mark Cuban because of the brand he built on Shark Tank and because of what he did in basketball with the Dallas Mavericks.
Lastly, what’s the number one piece of advice you would give to an entrepreneur pitching on Shark Tank?
KOL: Get your pitch down. Be able to explain the opportunity in 90 seconds or less. Tell us why you’re the right person to execute on the deal, and how you can de-risk it for us. And lastly, and so importantly, know your numbers.
RW: Seed round evaluations don’t exist. You don’t have the financials to value the business. If you come on Shark Tank, the way that I’m going to value your team or your business is by looking at your qualifications, how obsessed and knowledgeable you are about this business, the team you’ve been able to assemble, and what traction you’ve been able to accomplish.
RH: In this world, there’s a lot of distraction, a lot of noise. I don’t care about your passion. I don’t give a damn what you’re passionate about because passion fades. I care what you are obsessed with because that’s what’s gonna keep you going when it gets hard.