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/biz/ - Business & Finance

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20183148 No.20183148 [Reply] [Original]

Dan Bilzerian is being accused of using his company's funds to pay for hot models lavish lifestyle, and personal expenses.
>Heffernan, who was Ignite's Executive VP, claims he flagged tons of purchases to the company board, such as lavish spending on a $75,000 paintball field, $40k on a rock climbing wall, $60k on a 'Star Wars' gun set, $31k on pool renovations, $50k on a bed frame, $15k on a ping pong table and $88k on a vault.
>In the docs, Heffernan claims Dan's company was also burning tons of money on luxury yacht rentals, plus transportation for hot models ... and he says he found other "business expenses" that turned out to be charges for groceries and various household items.
His company is also on its last legs.
>In 2019, Ignite lost $43 million on operational costs alone, mostly marketing and promotion, leases on offices, and compensation for staff and executives.
>Posting fat losses isn’t entirely unheard of for early stage companies in Silicon Valley, but what is uncommon is how bloated and profligate Bilzerian’s company managed to become in less than one year.
>Ignite’s budget for “marketing and promotion” was $22.26 million, or more than twice what the company managed to register in sales revenue.
>For every dollar in sales ($9.6 million) the company spends almost two dollars on general and administrative costs ($18.4 million).

>> No.20183177

He has so much money that losing $50m is nothing.

>> No.20183242

Its his business why can't he use the funds however he wants? Why even own a business If you can't do that

>> No.20183286

>>20183148
Really? A vapid gas head who inherited his father's ill gotten money and masked it as poker earnings, despite not being able to recognize an ace from a joker, is a retard who is driving his 'company' to the ground in just year thanks to his debauchery and ignorance. Wow, that's a surprise.

>losing $50m is nothing.
He has $100 mil, and that's counting his state. He just burn trough 60%-75% of all his money. In one year.

>> No.20183296

>>20183148
This is bullish for LINK

>> No.20183309

>>20183242
>Its his business why can't he use the funds however he wants?

The state of /biz/ everyone. I swear the IQ in this board goes down every week.

>> No.20183313

>>20183242
He probably sold shares like a retard. Keep your business PRIVATE, that's one of the few actually great tricks Trump followed for a lot of his core businesses (but not all, the dude registered 530 businesses total)

>> No.20183423
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20183423

I remember posting that all his expenses for travel, models, and his lifestyle is all funded by IGNITE and he's not spending his own money out of pocket and was called a LARP in that thread.

My firm has worked with his brands several times in the past and they're a shitshow. It took us 4 months to get payment for advertising before. Nobody there has any idea how to run a business.

>> No.20183438

>>20183286
a fool and his money are soon parted.

it will be good as fuck when this guy is begging for a dollar on the street lmao. his celeb status will not save him

>> No.20183488

>>20183423
Maybe they're just too based to follow the normal rules

>> No.20183504

>>20183488
He’s not Elon dude

>> No.20183518

>>20183423
>Nobody there has any idea how to run a business.

Do tell us some LARP, I mean, anecdotes. Go on, anon.

>> No.20183557

>>20183148
Sounds based

>> No.20183570

>>20183286

Make that 200m.

>> No.20183604

>>20183286

Awww, baby's jealous that he doesn't have miwwions? Cry more, poortard.

>> No.20183666

>>20183604
It took you one entire minute to come up with that response after you double posted. No surprise on you being a fan of this retard.

>> No.20183679

>>20183570
>>20183604
Dan please go

>> No.20183752

>>20183423
show the fucking dick

>> No.20183794

why do people idolize this faggot? hurrr durrr im getting my dick sucked on a yacht look at meeeee

>> No.20183839

>>20183148
how can this companies burn this much cash is so little time

like uber and amazon a while ago, where does the money to fill the hole comes from?

>> No.20183869

he could have literally put all that money in Link and have become a billionaire. What a fucking moron.

>> No.20183908

>>20183794
Americans have a way to idolize niggers whatever their skin color is.

>>20183839
>how can this companies burn this much cash is so little time

You'll be surprised how much a nigger can spend on idiotic shit

>> No.20183917

>>20183242
you do know that you can be charged with embezzlement even if you are the sole proprietor of a company, right?

>> No.20184054

>>20183908
/thread

>> No.20184106
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20184106

>>20183518
>>20183839
He uses IGNITE to fund almost literally everything he does. His entourage (mainly juice heads like Jon Skywalker) all had company cards and bought whatever they want, whenever they wanted. Any travel, dining, lodging that wasn't sponsored came out of IGNITE's pockets.

Throwing $200k+ parties in LA, all the thots in and out, tons of dudes with unlimited access to the companies' funds, Dan's toys, and the list goes on. $100k a weekend would be light spending.

The company itself is more of front. All of IGNITE's products, from the CBD, the MJ, the apparel is all outsourced. Nothing is made or produced inhouse and there are a handful of competent employees. We ran some advertising campaigns and none of them had any idea what they wanted. They kept 0 records, and the marketing department is a bunch of frat boys and 2 literal boomers. Most of the thots work for exposure too, but the keepers got free designer bags and clothing, plus a lot of hush money. Thats just getting started.

>>20183752
I dont feel like getting banned, Fren.

>> No.20184107

Imagine being a cuck and wanting to leave a legacy behind

>> No.20184149

>>20184106
>the CBD, the MJ, the apparel is all outsourced
and it's all mids kek

>> No.20184279

>>20183148
Good. Let him do what he wants and end up in the gutter. I'll flip him a few AMPL on my way to the harems.

>> No.20184664

>>20183423
>>20184106
WHO ARE THESE MEN? I need to know who the thick bitch is at least

>> No.20185154

>>20184149
Oh my God their weed is fucking garbage. Bilzerian is a perfect example of some rich fucking thinking selling weed is as simple as just planting it, harvesting it, and reaping the profit.

>> No.20185371

>>20183794
Personally yeah, I'm envious of his wealth. But not him as a person. Dan is a fucking manlet idiot that's gonna go bankrupt soon.

>> No.20185651

>>20183423
COOOOOOOMMM I NEED A NAME

>> No.20186620

>>20183148
>$60k on a 'Star Wars' gun set
kek
If VRA moons I might actually do this

>> No.20186701
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20186701

>>20183148
his company's logo looks like the human sacrifice cult from the dragnet movie

>> No.20186884

>>20185154
The idea of creating an entire company dedicated to weed products is so cringe. Like imagine you have hundred of millions of dollars and could research and create ANY type of business venture, and you decide to go with some as meme as weed products. Philanthropy, scientific endeavors, etc. and this dude chooses AYY WEED LMAO. What a joke

>> No.20186921

Feels good knowing I'll have more money than Dan soon. For reference, I have $0.

>> No.20186968

>>20186701
That's because 99% of wealthy or famous people in this world are Satanists. Even Jesus said that Lucifer is the god of this world.