FaZe Clan: The World's Dumbest SPAC
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Күн бұрын💰 Use code "WSM" to get Kudos for FREE and double your rewards ▸ joinkudos.com/wsm 💰
Dive into the sensational journey of FaZe Clan, the very first pure-play Esports company to grace the major US stock exchange with a $725M valuation. From its humble beginnings with a group of friends showcasing their COD trick shots on KZfaq to becoming Esports titans with millions of followers and substantial revenue streams - FaZe Clan's story is nothing short of remarkable. 🎖️
But, like many tales of meteoric rise, there's a flip side. After an impressive ascent, they've faced a sharp decline, with stock prices plummeting to a staggering 97% drop, pushing them to the brink of delisting from NASDAQ. 📊
What went wrong? Were there red flags that investors missed? 🚩 Join us as we unpack the details, tracing back to the inception of FaZe Clan and highlighting crucial missteps that led to their financial downfall. A story of triumph, turbulence, and valuable lessons for investors and Esports enthusiasts alike.
Check out our second channel Broken Business Models where we discuss unusual or otherwise suspect businesses that may be unviable: / @brokenbusinessmodels
0:00 - 3:08 Intro
3:09 - 9:12 FaZe business model
9:13 - 15:34 Red flags
15:35 Fundamental problems
#fazeclan #esports #wallstreetmillennial
Email us: Wallstreetmillennial@gmail.com
Check out our new podcast on Spotify: open.spotify.com/show/4UZL13d...
All materials in these videos are used for educational purposes and fall within the guidelines of fair use. No copyright infringement intended. If you are or represent the copyright owner of materials used in this video and have a problem with the use of said material, please send me an email, wallstreetmillennial.com, and we can sort it out.
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@wallstreetmillennial 8 ай бұрын
💰 Use code "WSM" to get Kudos for FREE and double your rewards ▸ joinkudos.com/wsm 💰
@BR-ty3hx 8 ай бұрын
Another scam ad.
@newyorkvisionary 8 ай бұрын
Are they generating revenue from selling consumer data? Wondering how they pay out 3% cash back when the service is free..
@rollinontheboard 8 ай бұрын
skammerz
@fakeplaystore7991 7 ай бұрын
It's "free" as in "you are the product, you dum dum". By the same guy pouring at other "free money" scams like Celsius or FTX. But I'm sure this totally legit sponsor is completely different.
@medes5597 6 ай бұрын
It's a rewards scheme. It's legit, but works the same way other reward schemes do. It gives the store offering a reward more of your data. Honey works the same way. Is it something I'd use? Nah. Is it remotely comparable to FTX and Luna? No lmao. And I have no interest defending this channel, I think like 60% of the voice over is roughly right and the other 40 is riddled with basic errors about finance, business, names, companies, investing and so on.
@sausageandbeanmelt4634 8 ай бұрын
I have no idea how SPACs are legal... It's the stock market equivalent of buying an iPhone online and receiving a sealed iPhone box with a rock inside.
@PXAbstraction 8 ай бұрын
What a perfect description.
@obsidianjane4413 8 ай бұрын
Because every .000999% of the time, that rock is a diamond.
@parafitality2730 8 ай бұрын
They're sorta in a grey zone
@vanesslifeygo 8 ай бұрын
Chaimath Pilhapatiya is going to curse you (I do not mean to misspell his name it's my fault)
@AlexanderTheGoodEnough 8 ай бұрын
Your metaphor works better for Chinese ADR's. It's all just garbage in the end, so you're right about that lol. Special Purpose Acquisition Companies are just a way of cutting through a lot of the red tape (time and financial statements) for listing the acquired company publicly. SPAC's do get vetted the traditional way, but since all they really are is just a pile of cash there's not much to do except rubber stamp them.
@williamkelly1333 8 ай бұрын
I want to meet the analyst that made this deck, he has some skills
@raylopez99 8 ай бұрын
@4:03 I want to meet the eye candy in the tank top and distressed jeans in the background. With looks like that, I think she did OK out of this whole SPAC mess.
@MegaJuniorJones 8 ай бұрын
Nah, all of the SPAC are just scam frauds. SPAC didn’t have to disclose revenues.
@blastingoff 8 ай бұрын
@@raylopez99 "How can I make myself sound like a virgin"
@raylopez99 8 ай бұрын
@@blastingoff I've got a partner. You getting some? Peace! Piece of azz!
@tomlxyz 8 ай бұрын
Has there been any smart SPAC so far?
@1986fritzthecat 8 ай бұрын
these kinds of businesses already have a corporate overlord, its amazon(twitch) and google(youtube). Adding an additional middleman just leads to increasingly diminished returns
@Arigator2 7 ай бұрын
Hololive is doing great. Faze is just bad.
@x_sama5560 2 ай бұрын
@@Arigator2 I see a pattern that will probably happen in Hololive just like what happened in Faze. hopefully Hololive won't suffer such atrocity. becoming to big to get sponsorships.
@alex549806 8 ай бұрын
Good video! However as someone whos followed this dumpster fire for several years i found that you missed out several parts of the story. For instance, Snoopdog being appointed to the board and being hired as a face of the brand only to make like one appearance for them and dumping his stock as soon as legally possible. Faze's connection to Illegal online gambling operations, aswell as some of their members pumping and dumping NFTs (I know NFTs was in the pitch but Faze members have rugged plenty before that) aswell as the coin (which you should have specified was supposed to be a charity for sick children). The Faze rabbithole goes even deeper. Terrible terrible conpany.
@user-hr2zy7ct8h 8 ай бұрын
You would have to be stupid or desperate to hire Snoop dogg. And he only accepted because he's a sellout. It's disgusting to see a corporation and an individual who have more than enough money be this desperate seemingly having no dignity whatsoever.
@MrNH718 8 ай бұрын
Jesus
@BGRUBBIN 7 ай бұрын
Lol the Snoop Dogg bit is jokes. Would make sense because he can't really play fast paced games while stoned out his mind 24/7.
@aznthy 7 ай бұрын
The joke is your lies.
@Niclasla 6 ай бұрын
Snoop a G
@IM_Arcades 8 ай бұрын
Funny little story about all of this. When FaZe's share prices tanked under 1 dollar, one of the main founding members ended up having to sell his 992 911 GT3 with a dealership I am very familiar with. The car was completely wrapped in the gaudy FaZe Clan wrap and it sat on the dealership floor for a while before the dealership finally took the car and got that wrap removed completely. When the wrap was finally removed, the GT3 was sold immediately and no one was the wiser. Should show you how unknown FaZe is outside of a small circle of people. I even explained to the dealership General Sales Manager who FaZe Clan is (as I roughly know the gaming scene) and he had no idea who they were. I couldn't help but laugh because I knew that car would not sell with that stupid FaZe wrap on it. No one outside of gaming circle would touch FaZe and their brand with a 10 foot pole. Especially with the OG FaZe members keep running their mouths like they know business. They absolutely don't. They are dumb enough to run Grace Van Dien out the door, when they desperately needed something positive, the OG members managed to somehow screw that up too. Nadeshot and 100 Thieves at least know what they are doing, FaZe Clan is just pretending to know what they are doing.
@umitencho 8 ай бұрын
Yeah, seeing them dunk on Grace for the stuff out of her control was just sad. They are attacking everyone. If you listen to the behind scenes story of their corporate management, it's clear they never knew what they were doing from the start. They were just a stupid boys club that gained fame and they fumbled their way to riches. They need someone who can put the big boy pants on and get the shit together, but who wants to work for a group of man children who want to dictate everything?
@TheoEvian 8 ай бұрын
The funny thing is: I am a long time Starcraft and League fan, I have cursory knowledge about CS:GO, Hearthstone etc. Even though I lost interest in it some time ago I would consider myself as somebody who is quite knowledgeable about e-sports but I know next to nothing about this team and their achievements, they have no discernable image in my mind, even though I have probably heard about them in non-finance related contexts. Either way, they are not a household name. If I was offered to invest into Team Liquid or C9 or even as you said, 100 Thieves, I would know what to expect and their brands would spur in me some kind of trust - with FaZe I have no such feeling.
@rabidfirefox8914 8 ай бұрын
To this day I still have no idea who FaZe is. I mean I think they have something to do with gaming and watching a garbage fire is always fun but I still don't know crap about them. How they ever thought they were relevant is amazing to me. Maybe I'm an outlier because gaming outside of Fromsoft isn't really all that interesting to me.
@urchinsify 8 ай бұрын
I've been saying this on loop with every FaZe drama video I stumble across with. The only thing OG members know how to do is get clout, nothing else. They've been self sabotaging the day the sold the brand. And been whining endlessly about how bad the management is when it's their fault for selling out.
@hurensohn7605 8 ай бұрын
the OG members are big dumbasses lmao. "u cant even do a 360 noscope" mf's still think its 2010.
@Stone_624 8 ай бұрын
Faze clan has literally been a meme since (at least) 2012. Nobody who knows anything about anything would think this is a good idea. Machinima failed and it had 1,000x the potential of Faze for success.
@tomlxyz 8 ай бұрын
People still fall for crypto scams despite it regularly happening for a decade, so just something regularly failing before doesn't seem to be a reason to not invest in something
@DouglasLoring 8 ай бұрын
@@tomlxyzthat sentiment rings to mind one of my favorite (alleged) Mark Twain quotes. “It’s easier to fool people than to convince them that they’ve been fooled.”
@tomlxyz 8 ай бұрын
@@DouglasLoringone bizarre thing is that many people who fall for a scam have been falling for scams a couple of times before
@Raulsta1985 8 ай бұрын
@@tomlxyz This surely falls into pattern behaviour.
@Orcawhale1 7 ай бұрын
Machinima never had any potential, cause it was so widely mismanaged.
@LizardSpork 8 ай бұрын
Shorting SPACs is looking to be the guaranteed money maker of our time.
@samsonsoturian6013 8 ай бұрын
Shorts cost money and SPACs are volatile.
@rightwingsafetysquad9872 8 ай бұрын
You can't really short a SPAC. You buy it, then redeem your shares during despac. If you're an insider and got in early enough, you probably get to keep the associated warrants. Effectively you make FFR for the lockup period plus the value of the warrants. SPACs are a scam and anyone can tell just by reading the terms of any particular one.
@vikramkrishnan6414 8 ай бұрын
Given the low market cap, you could get easily squeezed
@iansane1928 8 ай бұрын
Guaranteed money maker? There is no such thing. Do you think you are the only 200 IQ big brain that has thought of this?
@user-hr2zy7ct8h 8 ай бұрын
In order to short an asset, the security must first be borrowed on margin and then sold in the market, to be bought back at a later date. IF there's anyone willing to sit at the other end of that trade, that person will ask for a fee. And like Vikram Krishnan said, the market capitalization is low, imo it's MICROSCOPIC, 17,5M USD, so anyone with a little bit of spare change can make you eat your shorts. Imagine how little money a billionaire would have to drop in this asset to make your shorts lose 50+% of value.
@thegray5730 8 ай бұрын
Faze, or any esports org, is more of a clout thing than a legitimate commercial enterprise. All the game genres that are available to an individual streamer that esports competitive gaming doesn't cover, like simulation, role-playing, action-adventure, puzzles, sandbox and horror games, not to mention poker and casino games, are just as lucrative to stream and partner with.
@proprietarycurez8463 8 ай бұрын
$FaZe
@titanicisshit1647 8 ай бұрын
Some people like to see good skills,not some guy that does whatever
@obsidianjane4413 8 ай бұрын
Esports is all about the commercial enterprise to the guys in polo shirts in the back of the room who have never played a game besides Wall St.
@titanicisshit1647 8 ай бұрын
@@obsidianjane4413 true ,what he said sounds like some MBA logic
@MakerInMotion 8 ай бұрын
I think of "clout" as having actual power. Like getting arrested for DUI with a pocket full of narcotics and making the whole thing go away with one phone call. Or showing up at a trendy restaurant with no reservation and the owner personally escorting you right to a table. Having thousands of children who like to watch you play Call of Duty isn't clout in my mind.
@cougar2013 8 ай бұрын
These are the kids that rob middle schoolers and laugh about it
@KippinCollars 8 ай бұрын
Middle schoolers are a bunch of little shits, though.
@bt4582 8 ай бұрын
One other thing wanted to add - they tried to add a woman game player Grace Van Dien and then Faze Rain insulted her appearance and skills saying she was not welcome. Then she responded insulting his former drug habit/OD and then he made this horrible video showcasing him yelling at her until she cried and left the room (apparently he can decide when something is offensive and when insults like the ones he made against her should just be taken as a joke). Then all his fans made death threats against her. What kind of group is this?
@Megasteel32 8 ай бұрын
most of his fans are middle/highschoolers, so literal children.
@manyseas1219 8 ай бұрын
Faze Rain really is toxic
@kaczan3 8 ай бұрын
"(apparently he can decide when something is offensive and when insults like the ones he made against her should just be taken as a joke)" Isn't that what literally every chicks thinks tho? And if a guy cried, you wouldn't feel bad for him.
@BobPagani 8 ай бұрын
@@kaczan3 How to say "I hate women" without using those precise words.
@bt4582 8 ай бұрын
Tried to reply and post link to video before but it did not take. Can google it and go to 19:00 to watch end where he is telling her not to be upset about the insults but what she said to him was not ok. I honestly have not seen this kind of situation happen too much and hard to know for sure but think if I did see it happen where another person insulted a man until he cried, I think I would feel for the man.
@stockstreamtwitch 8 ай бұрын
Yo! Someone finally did a video on this! Thank you! This SPAC has been such a dumpster fire! Great video
@WolfvineGaming 8 ай бұрын
I mean I know a bunch of people who’ve talked about this before and after this went down
@CatsMeowPaw 8 ай бұрын
Has there ever been a SPAC that wasn't a scam or bubble?
@tomlxyz 8 ай бұрын
I don't know the answer to that but i do know that on average SPACs have made a major loss for investors. Just thinking about how SPACs are supposed to work, how can anyone expect it to go differently?
@user-yj7um6hv1d 8 ай бұрын
Of course. Ardagh Metal Packaging, for example. They pay a solid 11% dividends. Pretty much none of the resource-oriented SPACs (gas/oil/gold etc) been a scam.
@Alley00Cat 8 ай бұрын
UTZ, MP, and a bunch more. However, like 95% of them are total garbage
@jaywu2856 8 ай бұрын
Yes: the one i am trying to sell you right now. All the other SPACs are fake. Would i lie to you?
@mrmo3379 8 ай бұрын
There are some. Not many, but a few are good.
@philippebyrnes1213 8 ай бұрын
" The World's Dumbest SPAC". To quote Pulp Fiction, that's a bold claim. there's a deep bench of contenders.
@silmarian 8 ай бұрын
This reminds me of the multi channel network debacles that came to a head a few years ago. Predatory taking advantage of creators, large cut of revenue, horrible contracts, and eventual bankruptcy, it’s all there. The next step in this dance will be creators going public about not getting paid, if it hasn’t happened already.
@Alley00Cat 8 ай бұрын
I’m an investor and not a gamer, heard about this when the SPAC was announced. Took me about 5 seconds to figure out it was a complete joke. No one on Wall Street took this company seriously. Even the SPAC sponsors who took this public were borderline trolling with that presentation. No matter what happens, they make a killing, zero fks given about investors, fans, and the company.
@skilledwarman 7 ай бұрын
I think Faze Clan signing Grace Van Dien (Blue Fille) straight off her popularity from Stranger Things and then absolutely messing it up because several of their veteran members couldnt just not be sexist towards her sums up why their company failed. They finally sign a rising star who actually streams (unlike prior celebrity signings) and wouldve brought them a new audience and alot of good will, but because none of them have any professionalism they blew it up
@mariogilbert4260 8 ай бұрын
One of the fundamental problems with corporate America is the belief that as long as we have investors/shareholders(i.e. capital) the business(model) will work..... ANY business. And that's just NOT the case. I have worked in the moving industry for over 12years and have seen how corporate America particularly TECH companies create apps that are suppose to make moving simple and YES moving is NOT that complicated. The problem? Corporate america didn't understand(and LEARN) that moving customers are NOTORIOUSLY CHEAP and no matter how much 💵 tech/corporate america put behind the apps.... they loss LOTS of 💵 and just didn't work. This is the same pitfall that happened with faze. If the initial investors took the time to LEARN the CULTURE of faze, They could have seen THIS was more of a SMALL HOBBY enthusiasts community rather than the HOPE of a profitable business model and putting CASH behind won't work
@vanesslifeygo 8 ай бұрын
Despite the huge decline in the market cap, whoever put these shares out into the public still got away with tens or hundreds of millions. They still beat whoever invested in them even though they may get delisted.
@jpt4409 7 ай бұрын
The one redeeming factor is that anyone investing deserved to lose their money, being stupid is expensive.
@hammerfist8763 8 ай бұрын
Would have taken an extremely lean corp structure, realistic valuation ($500 mill, not 750 mill), no NFT scams or other screwups, signing high count streamers on the most popular platforms (in other words, people who don't need Faze), and taking 10%, not 20%, then...maybe.
@robboltwood 8 ай бұрын
Save the kids!
@bigdo15335 8 ай бұрын
Great video. I wish you would have included something about Faze paying Snoop and Nickmercs millions and in no way integrating their brands into the bigger Faze brand.
@user-hr2zy7ct8h 8 ай бұрын
How are you going to include Snoop Dogg into an esports brand? What part of getting high all day seems professional or sporty to you?
@Unchainedful 7 ай бұрын
Oh no, we already had the failed Snoop Lion, I can’t imagine FaZe Snoop.
@samsonsoturian6013 8 ай бұрын
A general rule is there is never a lot of money in selling things to children. It must be a freemium service to get any business at all. You will get limited amount of money from merch sales and sponsorships because parents are buying this stuff, not kids. You must constantly acquire new customers as old ones will inevitably lose interest in a few years or months. And there are zero barriers for entry so there's constant competition from a sea of persons. Also, kids don't like souless corporations and will devote most of their attention to people they want to be friends with. This is why Minecraft servers rarely make it to the 10 year mark. People just simply stop playing, and the less money comes in the poorer quality the server will be which will in turn drive more kids out.
@proprietarycurez8463 8 ай бұрын
Why you trying to make it about children? Even god plays video games.
@samsonsoturian6013 8 ай бұрын
@@proprietarycurez8463 Not very much. People play games progressively less as they get older and boys play far more games than girls. That's why all videogames target teenaged boys as those are the ones spending 100% of disposable income on games.
@titanicisshit1647 8 ай бұрын
@@samsonsoturian6013 but god is billions of years old and he plays video games!
@samsonsoturian6013 8 ай бұрын
@@titanicisshit1647 what?
@titanicisshit1647 8 ай бұрын
@@samsonsoturian6013 didn't you know that god likes to play video games?,proprietary curez told you
@michalsoukup1021 8 ай бұрын
Faze clan in 2022:"Lets have a profitable year" Coffeezila:"I am gonna end this mob's entire career"
@reprovedcandy 5 ай бұрын
I'm a browser extension developer and was pitched the exact idea for Kudos when looking for a new startup 1.5 years ago. I thought the idea seemed both impossible and kind of silly. Boy, was I clearly wrong! That was definitely a trip to see this ad in a WSM video of all places. Pretty neat, guess that guy was on to something.
@hardyea 8 ай бұрын
Faze was coming into the sphere when I left it; and I thought it was a joke back then. Ten years later and I was right
@Tyzaem64 8 ай бұрын
My favourite part of FaZe clan were the original founders complaining on twitter about how FaZe is ran present day, after they *checks notes* completely sold out for a cash grab.
@Zminator1986 7 ай бұрын
The idea of an E Sports team being made into a publicly traded company is as stupid as BuzzFeed thinking they are more valuable
@keepingcompany8196 8 ай бұрын
FaZe clan is grandfathered into esports to such a degree it doesn't matter how poor of a company they are. Built off the back of shady at best business practices, and continuing through to present day.
@nntflow7058 7 ай бұрын
They are ran and created by uneducated incels.
@n3wt 8 ай бұрын
good videos and production value ..think u need a better mic thou
@kkuo326 8 ай бұрын
The insiders cashed out (or they better have) and that's all there is to know about this SPAC.
@elen5871 8 ай бұрын
always good to see a stock chart that is fundamentally identical to a rugpulled coin named, idk, ball$ack or something.
@thesatirist7180 8 ай бұрын
The problem with investors and businesses os the idea of hoping with the trends! Remember that trends are just trend, over time their hype and interest will fade away, as new trends will rise to replace previous trend. Instead of focusing with trend, focus on a more viable business idea that truly solves real world problems or an idea that bolts itself over a passion! Of course using some technical stuff are also important, such as doing a more dynamic business model that adopts to changes while maintaining the initial idea!
@ibladesi 8 ай бұрын
Betr has to win the spac prize for 'speed run to penny stock'. Pretty wild. At one point I remember selling 20+ strike faze calls for premium obv higher than the current stock price. The collective intelligence of the market has gone full Idiocracy in the past 3-4 years (arguably before that but 2021 was bonkers)
@brewskie1397 8 ай бұрын
Where can I find their pitch deck? Using this for a case study
@jeffw8218 8 ай бұрын
Lmfao seriously who the hell invested in this? Anyone? If so, please respond to this comment and explain WHY you wasted money on them.
@potato_eater90 8 ай бұрын
But some puts, has worked very well for me.
@TrueRetroflection 8 ай бұрын
The term SPAC sounds like a slur, and I'm loving it
@mx338 8 ай бұрын
E-Sports and video game streaming under a company doesn’t work in the west, in Japan amongst other Asian countries where the agency model is widespread in general you also see this model for streamers, with multiple agencies trading on the stock market as well.
@okene 8 ай бұрын
Like hololive?
@Gerrad820 8 ай бұрын
8:14 damn chill man, that was soul crushing🤣
@Nohandleentered 8 ай бұрын
I love how it starts so positive the boom! It’s actually a disaster 😂
@cryptocsguy9282 8 ай бұрын
I had no idea FaZe was a publicially traded company lmao. I love video games but I do not get the appeal of e sports or video game streaming at all. Seems like a dumb idea for an IPO with all the overpriced clothing nonsense and lack of regulation for their streamers , they should have regulated content and as a software engineer I think they should make their own indie video games and have their streamers promote their own video game brand but i'm an arm chair CEO , FaZe CEO knows better than me
@PXAbstraction 8 ай бұрын
FaZe has been crooked from day one and their failure will only be a good thing.
@UHChibi 8 ай бұрын
Great videos, thank you for making them. Also love watching Coffeezilla!
@GetBenched2010 7 ай бұрын
Can we all just agree that without internet drama, FaZe was nothing?
@ljpal18 7 ай бұрын
Never heard of it until the Save the kids thing
@overcaves 7 ай бұрын
they were absolutely something in a specific niche of early 2010s call of duty youtube. outside of that they are nothing
@warmike 2 ай бұрын
@@overcavesthey are and have consistently been a top contender in the Counter-Strike scene
@cheeseburgeryumyum 7 ай бұрын
Dumbest thing is to watch someone else play the game. I used to fight my brother for the controller... Now it's cooler you watch someone and pay them money to play games.
@ddwkc 8 ай бұрын
With very few exception and they don't really live with the competitive scene part, eSports is just a money pit.
@pravculear 8 ай бұрын
didn't coffeezilla do a series about them?
@samsonsoturian6013 8 ай бұрын
A gang of Faze affiliated players became professional crypto scammers. It didn't reflect on corporate
@reappermen 8 ай бұрын
He literally talks about that in the video, fairly early on, even brings up the title card/name of the video up...
@RobertKhoe 8 ай бұрын
@@reappermen At about 09:50 minutes.
@pravculear 8 ай бұрын
@@reappermen in my defense, i made the comment before watching the video all the through.
@Raulsta1985 8 ай бұрын
@@pravculear Lesson learned!
@rvdxpress 7 ай бұрын
The first time I heard of Faze was from Coffeezilla’s takedown of some of their members’ involvement in pump and dump schemes.
@MasonMsotsos 8 ай бұрын
Great video. I’m new to the channel but learned a lot already
@supbrotv 8 ай бұрын
They thought they can turn 360-quick-scope videos into a publicly traded company.
@munzekonza3498 2 ай бұрын
and making cheater wallhacks videos of Swagg into bot lobbies... put them on wall street market like stocks..idiots..they think players are stupid so they can be easily cheated..
@Ramonatho 7 ай бұрын
"Ethical considerations aside, they seemed to be doing pretty well." Why does that sentence always come before people start not doing well.
@Nohandleentered 8 ай бұрын
I love how it starts so positive then boom! It’s actually a disaster 😂
@mynock250 8 ай бұрын
Anyone who thought this would end well, should have there head examined.
@okaycook1307 7 ай бұрын
Should’ve said “kudos to kudos for sponsoring this video”
@jdh21403 7 ай бұрын
Every time I see Faze clan tags on Call of Duty still I end up laughing
@simplemechanics246 8 ай бұрын
No any level support for own members, that is cold blooded business management. Training, education, specialized services, even loan for equipment could help any of members. Ok, everyone was own team but there was not any synergy
@maemorri 7 ай бұрын
I would agree that part of the problem with Faze Clan, is what is the capital used for? Esports streaming is a very capital light business. Maybe high end computing power is necessary, but that's not really all that expensive. As the video points out: anyone can do it. So what can a corporation offer to its employees to make them more efficient compared to a solo artist? If the only product is the people and the labor, then how can they generate a return to pay investors?
@Fuckthis0341 7 ай бұрын
The idea that Faze clan is a real business is so absurd that every investor deserved to lose their money
@JustMe-xb4ey 8 ай бұрын
Brother, you make the best, most researched videos on the planet!
@pdempsey 8 ай бұрын
I think WSM just keeps nailing it over and over. Why they're not at 500k by now just shows the soapdish level of IQ of the YT algo. Keep it coming WSM team!
@zachansen8293 7 ай бұрын
SPACs should be illegal. Going public is supposed to be hard for a reason. If you can't meet those criteria you shouldn't have a workaround.
@mCblue79 8 ай бұрын
I've never understood why anyone would want to watch someone else play a video game. Maybe I'm too old to get it 🤔
@sandogames8542 8 ай бұрын
Same reason why people watch sports game.
@RealBoiJare 8 ай бұрын
Are you aware that watching people who are experts at certain things allow the viewer to learn a lot and improve their own skills? Do you even game at all? Lol
@mCblue79 8 ай бұрын
@@RealBoiJare ummmm no. I don't game. I have a job. But thanks for asking
@Raulsta1985 8 ай бұрын
Generally 90% of gamers suck at the game. That's why they watch. COD is a perfect example of this.
@jackmufc386 3 ай бұрын
It’s crazy how a cod trickshotting clan made it this far. Someone made a shit ton of money
@vanesslifeygo 8 ай бұрын
Does anyone remember montage videos? they were just....FaZed....away
@backlogbuddies 8 ай бұрын
As someone doing competitive gaming back in 2003: I take great offense to you calling Faze one of the OGs. They never even showed up for CAL/CPL. Even I'm not one of the OGs because I didn't do Doom2, Quake, or Unreal competitive gaming. I was only there for half life death match and CS1.6/Source. Y'all could do a bit of basic research. This isn't even counting the long standing Korean star craft scene, which is what inspired CAL/CPL
@cryptocsguy9282 8 ай бұрын
@backlogbuddies e sports has been around since Atari was making arcade machines
@backlogbuddies 8 ай бұрын
@@cryptocsguy9282 Yeah the old Twin Galaxies days, but a lot of those records are widely disputed now. We've no idea how many are real after Todd Rodgers was found out to be faking his initial Dragster score, and more. Walter was kind of just handing out rewards to people he liked, but none the less they did have a group traveling around the US to play games competitively.
@backlogbuddies 8 ай бұрын
@@cryptocsguy9282 I just remembered. It goes back further than Atari. There were traveling pinball groups who would compete in pinball tournaments. International travel.
@chrispaul1117 8 ай бұрын
DTI is a spac that makes sense. its about $4.40 in oilfield services
@graymars1097 8 ай бұрын
Jesus Christ How is this even a company?! Wow just wow
@dylanjimenez1952 8 ай бұрын
talk about VINFAST and INEOS grenadier cars
@spyr0guy 5 ай бұрын
"Despite his blistering criticisms of the company, [Teeqo] is still a member." I guess he was right, the corpos DO need him more than he needs them.
@HankHillspimphand 6 ай бұрын
great video mate!
@newdaysamepains 8 ай бұрын
How how I would turn around the brand. Let the streamers focus on streaming and then use money to perfect all other aspects of their brand. Thats all.
@BSJinx 7 ай бұрын
From Sports Business Journal- FaZe Holdings Inc., the “struggling video game-influencer” with 512M followers across social media, is being acquired by GameSquare, Cowboy owner Jerry Jones and Crescent Real Estate co-founder John Goff’s gaming company, in a deal worth about $17M.
@jacobeakin9944 8 ай бұрын
literal pump and dump.
@jeske100 8 ай бұрын
Faze Clan vs. Face Plant
@moketeratlabala1824 4 ай бұрын
The only person who made any money from SPACs is the person who started this KZfaq Channel.
@davidantone4593 7 ай бұрын
This whole mess is a good example of letting the clout and popularity go to your head. There is an established scumbag pattern of “influencers” and “streamers” exploiting their fans for a quick buck. And whoever thought that this was going to be a sustainable money maker needs to be fired and have whatever licenses and credentials stripped of them. Also them using a spac was already a giant “do not enter” sign from the get go. These guys at one time held a solid spot in the gaming world but even at their plateau it still wasn’t at the very top. There’s a video you can find of one of their members going into a GameStop and announcing himself to the whole store and expecting everyone to swarm him for pics and autographs but absolutely no one knew who he was. 😂😂😂 Honestly at this point these guys aren’t really taken as seriously as they once were. And in a business sense these are a bunch of ppl who really didn’t know what they were doing. Whenever I see any clips from their members now it’s just cringe.
@sunnygill1087 8 ай бұрын
This is why we need a market correction.
@Rilly0 8 ай бұрын
“One of the best ways to save money is by using credit cards for your purchases” Is a wile statement at any level.
@stockstreamtwitch 8 ай бұрын
1:21 🤣🤣🤣 🤌
@incremental_failure 8 ай бұрын
They also pretty much stole the logo from Return To Castle Wolfenstein. It's nearly identical, even the colors.
@kondor99999 8 ай бұрын
It always cracks me up when people like me (57, doctor) try to invest in some trendy “Internet thing”. Even *I* know that Faze are a bunch of asshat corporate shills.
@davidlea-smith4747 8 ай бұрын
Do you think with rising interest rates that these type of nonsense businesses will disappear?
@dylanjimenez1952 8 ай бұрын
talk about Chinese cars manufacturers expansion internationally
@mack4691 8 ай бұрын
God damn man if I knew faze was valued at 700 million dollars I woulda put options down
@KameraShy 8 ай бұрын
Mee too.
@justaguy328 6 ай бұрын
Esports in general are bound to die. It's a very niche market, and even though video games in general is a gigantic market, the people who love video games enough to sit and watch people play professionally is absurdly small. All that investor money and sponsorships are going away, and a lot of tournaments and teams are shutting things down. The fact that people really thought watching nerds sit around playing super smash brothers was going to rival professional sports leagues was comically absurd.
@netking767 8 ай бұрын
insightful vid!
@alfonshasel1995 7 ай бұрын
How many spacs actually provided value to their investors as opposed to the investment bank setting them up?
@RenegadesCS 8 ай бұрын
I live in Atlanta, am a FaZe Fan, and knew nothing about Atlanta FaZe. Shows a lot
@pehash 7 ай бұрын
As a fan, how do you feel about you being the main source of revenue for these idiots?
@louisnemzer6801 8 ай бұрын
Lots of competition for dumbest SPAC 😂
@althunder4269 8 ай бұрын
I need to dream up some kooky idea and take it public and make a fortune.
@colin0516 7 ай бұрын
0:58 this lineup should have taken over cs scene
@Optable 8 ай бұрын
Do one on TSM, they still thriving somehow
@maxyp 8 ай бұрын
7:20 talks about how unreliable KZfaq sub count is in regards to popularity and true size of a channel 9:35 then proceed to talk about how popular a KZfaqr was by referring to, and only, their sub count
@bobchipman4473 8 ай бұрын
Well, it is an indication that they were popular at some point.
@jamesfrench8610 8 ай бұрын
In the uk, faze fits the urban definition of a spac perfectly
@dxcSOUL 6 ай бұрын
No one needs people like Teeqo. No one needs Faze either...
@winchcable2282 8 ай бұрын
I love to see your cover a vtuber agency, like hololive or nijisanji.
@General1Cal 8 ай бұрын
It would be better if they helped their members to fix up their KZfaq vids and have a corp place to actually do their deed, sponsored KZfaqrs is allot like Netflix sponsored film makers.
@0lionheart 8 ай бұрын
@ ~6mins in; think you've misunderstood the point of doing this. It's to show investors who have zero knowledge of games, the potential of the space. Not to say "we did this", but to show the environment they're looking to expand into. If millions are willing to watch a virtual concert in a game it demonstrates an audience and appetite
@ghostoflazlo 8 ай бұрын
It's the argument of "The Internet"
@arandomperson8336 8 ай бұрын
I don't know why people would invest in individual content creators. The general rule online is that to make any real money you need to have a ginormous platform with millions of users. The individual content creators are glorified freelancers. If they're good they can make enough to sustain themselves and maybe a handful of employees but they'll never grow large enough that it's worthwhile to make a publicly-traded company out of it. Then you put all the issues that gamers have on top of that (young, male, low-income, offensive) and you see how a SPAC turns into a dumpster fire in short order.
@infobro6456 8 ай бұрын
Love the content, 1 thing i would point out is that you cant fully attribute a drop in 2023 to their customers realizing their popularity drop. 2023 has been a year of cuts and reduced marketing/adSpends across the board
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