I like this part (note that all amounts are in thousands):
Total board fees expensed during the three months ended March 31, 2024 was $313.
Revenue for the quarter was $ 7,000. Board fees alone were $ 313,000. Cash burn was $ 2.2 million.
It should no longer be a mystery why no one is streaming on Market.live. It's a waste of time to do a show. Only the narcissists are left on the platform.
Let's say Market takes 20% of each product sale (gross merchandise value) as their commission. That means $ 35k of product sold over a 3 month period.
Now cometh "Market Mayhem" where the company says they will give away a Jeep if they hit their goal of $ 100k of product sold in a 24 hour period. If my commission rate is near correct then the company has a run-rate of $ 140,000 for an entire year. And their goal is $ 100k in one day? Mayhem indeed.
The only way they hit $ 100k of product sales in 24 hours is if Rory tries to save face by taking some of his nearly $ 1 million salary to goose up the sales numbers. His Las Vegas house is going to be floor to ceiling filled with useless crap purchased on TikTok Shop.
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