How Television and Cinema Have Affected Public Opinion of Angel Investing, Finance, and Entrepreneurship

Insight from Gunnar De Young, originally published on March 11th, 2021.

Since its inception, Americans have been fascinated with television and, consequently, cinema. It has become a monumental industry with an enormous audience and profound influence. Television and movies today have advertisements embedded into the programming, crammed between breaks, or shown during previews. Producers and directors have complete control over what the audience sees and the sentiments the audience develops.

TV shows and movies like HBO’s Silicon Valley, NBC’s Shark Tank, The Big Short, and The Wolf of Wall Street have substantially impacted public opinion on startups, angel investing, and finance. Shows like these, among others, have altered public opinion of these industries and, in large part, have contributed to their growth. Shark Tank is probably the best illustration of this phenomenon. Despite not breaking the top 100 primetime shows in its first few seasons, it became immensely popular after prominent angel investor and entrepreneur Mark Cuban joined the show. In 2014, Shark Tank had a lower acceptance rate than Harvard. The show received over 45,000 applications from people with companies they wanted to have showcased. Of those, less than one percent were selected to be on the show. Since the show’s creation, viewership has risen dramatically, and people have become inspired by watching others showcase their ideas and make it big on television.

It is remarkable how many viewers idolize the people they see on the big screen. To use a previous example, Mark Cuban’s presence on Shark Tank helped to bolster the show’s ratings. How did he accomplish that? By leveraging his reputation from business and applying it to television. People know him as a successful entrepreneur and businessman, and they want to watch him work. Viewers want to know his thoughts, understand his reasoning, and run in the same circles. The show gave viewers the opportunity to experience what it’s like to be Mark Cuban and to pitch a company to him.

Similarly, DiCaprio’s Work in the Wolf of Wall Street served to immortalize the life of investment banker Jordan Belfort and solidify the public’s reputation of what it is like to work in that industry. DiCaprio’s work created the sentiment that being a banker was a fun life that would earn you a lot of money, get you a lot of girls, and allowed you to get high all the time. The movie romanticized the job so much that there was a 44% increase in job searches for stock broker positions in the UK. This demonstrates just how powerful media can be at persuading people to become interested in things that they weren’t interested in before.

It is clear that the media has played a significant role in shaping public opinion on finance, entrepreneurship, and angel investing. Fortunately, Hollywood’s works have served to spur the public’s interest and bolster confidence in these industries.

Sources:

CNBC, 10 Secrets You’d Never Guess About ‘Shark Tank’ https://www.msn.com/en-us/money/savingandinvesting/10-secrets-youd-never-guess-about-shark-tank/ss-BBkGl8W#image=4

INC, 10 Secrets You’d Never Guess About ‘Shark Tank’ https://www.inc.com/graham-winfrey/ten-secrets-you-would-never-guess-about-shark-tank.html#:~:text=Shark%20Tank%20is%20harder%20to%20get%20into%20than,reality%20TV%20see%20the%20light%20of%20day.%203

The Telegraph, How interest in stockbroking jobs rocketed after The Wolf of Wall Street https://www.telegraph.co.uk/culture/film/film-news/10720915/The-Wolf-of-Wall-Street-has-it-produced-a-nation-of-stockbrokers.html

Gunnar is a sophomore from Napa, California. He’s studying business administration with an option in entrepreneurial studies and a minor in philosophy. In addition to being in the Rines Fund, Gunnar serves as an ambassador for the Peter T. Paul Entrepreneurship Center and as the Secretary of the UNH Aviation Club. Professionally, Gunnar is pursuing his California real estate license and presently works as a sales associate for Command Sourcing. He ultimately hopes to work in real estate, sales, or venture capital after graduation.