This paper seeks to find out what makes a business model uninvestable. In particular, the study explores the reasons for venture capitalists’ rejection decisions on entrepreneurs’ proposals. The study digs into rejected cases in the American Shark Tank TV show as the source of secondary data. Data is transcribed, coded, synthesised, narratives are built, and storytelling techniques are applied to present the findings. The study deviates from the mainstream research on business models, based on primary data. In doing so, the study bridges between the business model research and communication sciences.