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Buyers of Radio Shack, Pier 1 brands accused of running $112M Ponzi scheme

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Re: Buyers of Radio Shack, Pier 1 brands accused of running $112M Ponzi scheme

#21

Post by mikert89 »

modeless wrote: post #5

People may remember Tai Lopez from his "Here in my garage, just bought this new Lamborghini here" YouTube ad, subject of several parodies such as: https://www.youtube.com/watch?v=0GIwTG8V-Ko I think he was one of the first to realize that you could take regular YouTube videos that are several minutes long and turn them into skippable pre-roll ads, and some people would watch the whole thing. I know nothing else about…

he legitatmely innovated/invented a whole type of youtube channel/influencer. clearly was never a moral person, doesnt mean he wasnt influential

Re: Buyers of Radio Shack, Pier 1 brands accused of running $112M Ponzi scheme

#22

Post by nradov »

DiscourseFan wrote: post #10
bitwize wrote: post #9

Earlier quoted context omitted.

A study found that most American millionaires lived in modest homes and drove used American cars. They made their wealth by being concerned about relatively small amounts of money because it adds up. When we think "millionaire" we think of the dream that is sold to us by Hollywood—mansions, fancy cars, endless parties. But entertainers are paid in the millions and then encouraged to live like billionaires, so that th…

Well actors have a very strong union in the US, they used to be paid peanuts. When you have that kind of labor power, your security comes from the union, not your stored wealth, so they can afford to spend because they know they will be well compensated for their work.

There is no security. The actors' unions set minimum wages for union productions. But they don't guarantee work to anyone, and many productions are non-union. Every experienced actor is aware that they might never get another role.

Re: Buyers of Radio Shack, Pier 1 brands accused of running $112M Ponzi scheme

#23

Post by 29athrowaway »

modeless wrote: post #5

People may remember Tai Lopez from his "Here in my garage, just bought this new Lamborghini here" YouTube ad, subject of several parodies such as: https://www.youtube.com/watch?v=0GIwTG8V-Ko I think he was one of the first to realize that you could take regular YouTube videos that are several minutes long and turn them into skippable pre-roll ads, and some people would watch the whole thing. I know nothing else about…

Not because you are next to a Lamborghini it means it's yours.

And many houses featured in videos are content houses... (lavish rentals for influencers to have a luxury background for their videos)

https://en.wikipedia.org/wiki/Content_house

https://blog.giggster.com/how-to-rent-a-tiktok-collab-house-...

Re: Buyers of Radio Shack, Pier 1 brands accused of running $112M Ponzi scheme

#24

Post by deadbabe »

jdietrich wrote: post #15
bitwize wrote: post #9

Earlier quoted context omitted.

A study found that most American millionaires lived in modest homes and drove used American cars. They made their wealth by being concerned about relatively small amounts of money because it adds up. When we think "millionaire" we think of the dream that is sold to us by Hollywood—mansions, fancy cars, endless parties. But entertainers are paid in the millions and then encouraged to live like billionaires, so that th…

"Millionaire" is now practically synonymous with "professional nearing retirement". About 1 in 15 Americans have a net worth of over $1m.

A million dollars isn’t cool anymore, it’s like $500k a few years ago.

It starts to be cool when you have like $10 million dollars. We need a term for people who have 8 figures now that 7 is so common.

Re: Buyers of Radio Shack, Pier 1 brands accused of running $112M Ponzi scheme

#25

Post by monkeyelite »

I wonder if his prominent online persona made him more likely to be targeted. People at the SEC are very likely to be in the age range who is familiar with him.

Not to suggest he is or is not guilty but that being loud often makes others watch you more closely.

Re: Buyers of Radio Shack, Pier 1 brands accused of running $112M Ponzi scheme

#26

Post by hyperhello »

deadbabe wrote: post #24
jdietrich wrote: post #15

Earlier quoted context omitted.

"Millionaire" is now practically synonymous with "professional nearing retirement". About 1 in 15 Americans have a net worth of over $1m.

A million dollars isn’t cool anymore, it’s like $500k a few years ago. It starts to be cool when you have like $10 million dollars. We need a term for people who have 8 figures now that 7 is so common.

Rich?

Re: Buyers of Radio Shack, Pier 1 brands accused of running $112M Ponzi scheme

#27

Post by kiba »

lupusreal wrote: post #16
rchaud wrote: post #13

Earlier quoted context omitted.

I'd be interested to know what proportion of these millionnaires' net worth came from inheritances. That's the real dream Hollywood never tells you about.

Probably not as much as you probably think. Most "millionaires" today are just boomers from working class backgrounds who bought a modest property back in the 70s and now 50 years later all their illiquid assets, primarily their property, can be added up to one or two million.

Those assets are typically not counted when counting millionaires, IIRC.

Basically, your net worth is total asset minus your primary residence.

Re: Buyers of Radio Shack, Pier 1 brands accused of running $112M Ponzi scheme

#29

Post by [deleted] »

modeless wrote: post #5

People may remember Tai Lopez from his "Here in my garage, just bought this new Lamborghini here" YouTube ad, subject of several parodies such as: https://www.youtube.com/watch?v=0GIwTG8V-Ko I think he was one of the first to realize that you could take regular YouTube videos that are several minutes long and turn them into skippable pre-roll ads, and some people would watch the whole thing. I know nothing else about…

[deleted]

Re: Buyers of Radio Shack, Pier 1 brands accused of running $112M Ponzi scheme

#30

Post by RainyDayTmrw »

As this is a tech forum, I expect that the name that stands out is Radio Shack, and I do agree that that story is tragic. For me, as a long time New Yorker, the other name that stands out is Modell's. They were, for quite a long time, a fixture in New York City and beyond. Even for us not sports inclined, we still knew Modell's as a reliable retailer of sneakers throughout the years. Arguably, their Covid era bankruptcy was already the end, and this was just private equity puppeting the corpse. Nevertheless, it's a sad and nostalgic story.
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