FaZe Clan: The World's Dumbest SPAC
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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 YouTube 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: https://www.youtube.com/@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
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