Why One Entrepreneur Isn't Taking the Bait When It Comes to ABC's Shark TankThe ugly side of made-for-TV venture capital

I teach a business class at a university here in Michigan, and it pains me to discuss ABC'sShark Tankwith my students. They love the show, in which entrepreneurs pitch their businesses to billionaire Mark Cuban and other venture capitalists in a bizarro setting where deals involving hundreds of thousands of dollars are mixed with a VC version of speed dating. My students believe that getting onShark Tankand making a deal is a punched ticket to entrepreneurial stardom.

I can't decide whetherShark Tankis a wonderful motivator or the worst thing that ever happened to my industry. Here's why: The focus is on money, not on value. My biggest pet peeve with the show is seeing entrepreneurs more fascinated with pitching and raising venture capital than with building value—as if the default way to start a company nowadays is by having someone pay you to do it.