Viral TikTok movies are utilizing doctored clips from “Shark Tank” to falsely painting billionaire investor Mark Cuban endorsing merchandise bought by TikTok Store — and the billionaire just isn’t amused.
What Occurred: A brand new investigation by information ranking group NewsGuard discovered that a number of TikTok accounts have spliced collectively footage from completely different “Shark Tank” episodes to make it seem as if Cuban endorsed merchandise like Neuro Gum and BoomBoom nasal inhalers.
In a single viral instance, a video edited Cuban’s $30 million provide to relationship app Espresso Meets Bagel right into a clip selling Neuro Gum.
The manipulated video garnered over 9.6 million views, mentioned the report.
One other TikTok falsely depicted Cuban endorsing BoomBoom in a dialog with Kevin Hart by changing his actual remark about Spikeball with the altered audio, “BoomBoom.”
“These faked movies, which racked up tens of millions of views, purport to indicate investor Mark Cuban endorsing or investing within the merchandise,” NewsGuard reported.
Cuban informed the outlet in response, “It is tousled. I spend an excessive amount of time reporting these items to the [Federal Trade Commission]. I hope they get busted.”
TikTok confirmed to the publication that it eliminated the flagged content material for violating its insurance policies, stating that it doesn’t enable deceptive use of public figures, together with faux endorsements.
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Why It’s Vital: In an analogous incident, again in 2022, Amazon.com, Inc. AMZN filed authorized actions in Italy, Spain and the U.S. as a part of a worldwide crackdown on faux evaluation brokers, focusing on over 11,000 web sites and social media teams concerned in posting faux opinions for cash or free merchandise.
In the meantime, on Friday, Cuban bid farewell to the hit actuality investing present “Shark Tank” as Season 16 wraps up. The Shark presently has a internet price of $8.20 billion, rating him 391st on Bloomberg’s Billionaire Index.
Studies point out that Cuban had invested over $20 million throughout at the very least 85 firms throughout his time on the present. Amongst his most profitable offers have been investments in manufacturers like Dude Wipes, BeatBox Drinks, Tower Paddle Boards and Nuts ‘N Extra.
Nevertheless, Cuban additionally handed on some alternatives that later soared in worth, most notably Mom Beverage, which rebranded as Poppi and was later acquired by PepsiCo for $1.9 billion.
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Disclaimer: This content material was partially produced with the assistance of Benzinga Neuro and was reviewed and revealed by Benzinga editors.
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