These 'Shark Tank' founders tried pitching a charging station — but it quickly became a laughing stock
‘Shark Tank’ has featured several outrageous pitches over the years, from surgically implanted headphones to an alarm clock that cooks bacon. ‘Amber Ale’ was one of them. The name might suggest that the start-up has something to do with alcohol, but surprisingly, it was only a portable charging station for public places with finger scanning security. The judges called the idea “ludicrous,” and rightfully so! The founders, Kyle Byrd and Bill Shuey, explained that they planned to sell the product to retail stores and bars to allow people to charge their phones efficiently without the risk of theft.
“People are charging their phones in bars. They are giving them to the bartenders, waiters, and waitresses, and that’s a liability,” co-founder Byrd explained. However, they failed to back up their security claim with any solid evidence. The product lacked the door and the locking system, which they claimed was their unique selling point. “The locks in here are what we are using for testing. We’re currently sourcing our locks through Master Lock,” Byrd revealed. Investor Robert Herjavec asked if they had tested their fingerprint scanner, and that’s when things started to fall apart for the entrepreneurs.
“Here’s what I know about fingerprint scanners: they are very finicky except for the very, very high-end ones,” Herjavec told the contestants. “The idea of walking up once, putting your finger in there, and it recognizing you and the door coming down is ludicrous,” he added. He said that buying a high-end scanner is a significant investment. The entrepreneurs, fresh out of college, ended up becoming a laughing stock. When the sharks learned of the $1000 manufacturing cost, they deemed the start-up a disaster project. “This is going to end so badly,” Shark Kevin O’Leary almost screamed. “That is such a bad business,” judge Mark Cuban chimed in.
Shark Lori Greiner couldn’t understand the need for a standing charger at a time when the market for portable chargers and power banks is booming. “I’m in this space right now, and we are creating something that’s light years ahead of this. I’m out,” she added. Cuban advised them to reduce their production cost to boost net profit because he felt bad for the entrepreneurs who put in their “blood, sweat, and tears.” O’Leary took a moment to make a shark pun and quipped, “Wait, wait. No sweat and tears, just blood in the water.”
“Whenever you have a lot of people, one of the things you don’t wanna do is create a reason for them to congregate in one spot waiting for something,” Cuban advised. Meanwhile, the famously blunt shark, O’Leary, didn’t mince his words while reprimanding the founders. “I have to hire you both so I can fire you. This is so horrible,” he said. “How do you think this has any chance of surviving and working? I hate this so much it’s incredible. It’s one of the worst ideas I’ve ever seen,” he added. No wonder ‘Amber Ale’ is considered one of the most ridiculed pitches in ‘Shark Tank’ history.