Shark Tank Cast Says Atlanta Filming Opens Door for Entrepreneurs Without Wall Street Connections

Season 18 of ABC’s “Shark Tank” has moved part of its production to Atlanta, and the panel of investors says the shift is already changing who gets a shot at pitching their business ideas on national television.

Rashaun Williams, now a permanent Shark on the series, said Atlanta has long been a center of entrepreneurship, particularly in sports and entertainment, and that the city offers something Los Angeles doesn’t.

“You don’t feel the pressure that you feel in LA or in Hollywood. You can just lose preconceived notions about Shark Tank and about entrepreneurship and raising capital, and you can be yourself,” Williams said.

Williams argued the Atlanta setting is helping widen access to capital for entrepreneurs who typically don’t get noticed by traditional venture capital circles. “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,” he said. “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.”

Williams said that broadening access matters now more than ever. “Now is the perfect time to inspire the next generation of entrepreneurs,” he said. “People are struggling with gas prices and all those things. They don’t have access to capital or the information necessary to take their businesses or products to the next level. When they show up on Shark Tank, they have a once-in-a-lifetime opportunity to acquire all of the things that they’ve always wanted.”

A Long-Running Format Still Finding New Audiences

Robert Herjavec and Kevin O’Leary have been Sharks since Season 1, and both say the show’s pitch — ordinary people with a product idea getting a chance to change their lives — hasn’t lost its pull. “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. It’s still very inspiring after all this time,” Herjavec said.

O’Leary said about 20,000 people applied to be on the show last year, and roughly 150 made it onto the set. “We are the ambassadors of the American dream, every one of us,” O’Leary said. “The number one export of America is not energy or oil; it’s the American Dream. During these really difficult political times, we’re bipartisan. We create jobs for red or blue, Democrats or Republicans. We just love doing it.”

Daniel Lubetzky, another Shark on the panel, pointed to a rotating cast of guest investors this season — including Mindy Kaling, J.J. Watt, Steven Bartlett, Erin and Sara Foster, and Mr. Beast — as evidence the show keeps evolving. “We’re doing a lot more social media-forward work, and nobody does that better than Mr. Beast,” Lubetzky said.

Herjavec said he was struck by Watt’s grasp of business fundamentals, while O’Leary singled out the Foster sisters for their energy on set. Williams noted that, unlike traditional judges, the guest investors are actually writing checks. “People are really going to enjoy the diversity of the guest Sharks we had on this season,” he said.

Advice for Pitching Entrepreneurs

Asked what advice they’d give someone preparing to pitch on the show, O’Leary said contestants need a tight, rehearsed pitch. “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,” he said.

Williams said early-stage valuations are often meaningless without financial history to back them up. “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,” he said.

Herjavec said he looks past stated passion to something more durable. “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,” he said.

Williams also discussed a separate venture with former Shark Mark Cuban and his firm, Harbinger Sports Partners, which recently acquired a stake in the Athletics baseball team. He said the group, which includes a former Major League Baseball CFO, is opening professional sports ownership to everyday investors for the first time through a private equity fund.