'It’s all about cash flow': Internet slams 'Shark Tank' investor Kevin O'Leary for profiting off 'death'
LOS ANGELES, CALIFORNIA: Losing a loved one can be an upsetting and emotional process, and traditional cremation can leave families with ashes that are unsettling and difficult to cope with. Parting Stone, a Public Benefit Corporation, is altering the way people remember and honor their loved ones who have died by offering solidified remains as an alternative to traditional ashes. Founder Justin Crowe pitched his idea, which gives a unique method to remember and honor loved ones, on ABC's 'Shark Tank' during Season 14, Episode 19. Even while the fans loved the company concept and the service it offered, they couldn't help but call out greedy Mr Wonderful, aka Shark Kevin O'Leary.
After much back and forth, Justin walked away with an offer from the Tank. Even though he was able to get hold of two Sharks, the price he had to pay looked a little steep for the viewers as well.
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On the April 7 episode of 'Shark Tank,' Justin, the founder and CEO of Parting Stone, walked into the Tank seeking $400,000 for 5% of the company. By delivering a permanent and tangible form of remains, Parting Stone empowers families to cope with their loss. This method allows family members to remember and share their loved ones in a personal and meaningful way. Solidified remains, like conventional ashes, can be spread, giving families the choice to make a lasting monument to their lost loved ones.
Sharks Kevin and Lori Greiner made a combined offer to Justin after Sharks Mark Cuban, Barbara Corcoran, and Guest Shark elected not to make a deal. They offered $400k in exchange for 20%. Justin thought the equity was too high, so he countered it with 7%. Barbara decided to jump back in and make a counteroffer. Kevin and Lori make a new offer right away. The Sharks propose a new offer to defeat Barbara in the Shark fight. Justin eventually chooses Kevin and Lori.
A lovely way to turn the ashes of a loved one into something beautiful. Also for pet’s ashes as well https://t.co/UnU87zkj9E @partingstone #SharkTank pic.twitter.com/bo6WGnxOQ8
— Lori Greiner (@LoriGreiner) April 8, 2023
'Kev gonna raise those prices'
Even though it ended good for Justin, viewers weren't happy to see one Shark go in for a big bite on a company that does a sentimental job of giving grieving family members something to remember their loved ones. Kevin wasn't shy about going in on a dirty equity war with fellow Shark investor, Barbara. He even tweeted while the episode was airing, "There are two areas that I invest in and have for decades – weddings and death. Both are completely recession-proof!"
There are two areas that I invest in and have for decades – weddings and death. Both are completely recession-proof! #SharkTank
— Kevin O'Leary aka Mr. Wonderful (@kevinolearytv) April 8, 2023
He was soon mocked by a follower in the comments, who asked, "Is FTX recession proof?" While another added, "How about FTX? Boy Wonder SBF. Clown."
Moreover, his entrepreneurial side of Kevin didn't sit right with viewers. One took to Twitter to write, "Everyone has watery eyes…. Not Mr Wonderful, he starts talking about dog and cat stones. It’s all about cash flow." Questioning Kevin's typical royalty offer, a fan asked, "I have to say a royalty deal on this seems strange. Just saying." Another fan predicts, "Lori and Kev gonna raise those prices. Get your order in now before they do!" A user wrote, "POST HER SKI CRASH TRIAL #GWYNETHPALTROW APPEARS ON SHARK TANK ALONGSIDE #SBF #FTX INVESTOR VICTIM MR WONDERFUL PITCHED BY A CREATOR CONVERTING ASHES OF DEAD IN TO STONES OLEARY GAVE #SBF MILLIONS WHILE DENYING INVENTOR 7%"
Everyone has watery eyes…. Not Mr Wonderful, he starts talking about dog and cat stones. It’s all about cash flow #SharkTank pic.twitter.com/B5eLziVJD2
— Chris (@CJFee) April 8, 2023
I have to say a royalty deal on this seems strange. Just saying. #SharkTank
— Burt Zeimens (@BZeimens) April 8, 2023
Lori and Kev gonna raise those prices. Get your order in now before they do! #SharkTank
— Lynn G (@lynngotts) April 8, 2023
POST HER SKI CRASH TRIAL #GWYNETHPALTROW APPEARS ON SHARK TANK ALONGSIDE #SBF #FTX INVESTOR VICTIM MR WONDERFUL PITCHED BY A CREATOR CONVERTING ASHES OF DEAD IN TO STONES 🤔OLEARY GAVE #SBF MILLIONS WHILE DENYING INVENTOR 7% pic.twitter.com/vVKWUpHV82
— Carrie Devorah (@CarrieDevorah18) April 8, 2023
'Shark Tank' Season 14 Episode 20 will air on ABC on Friday, April 14, at 8 PM ET. You can catch the latest episode the next day on demand, or on Hulu. You can also watch old seasons and episodes on Amazon Prime Video and iTunes.
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