Esports Organisations Keep Taking Dodgy Money
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- čas přidán 4. 12. 2022
- #esports #crypto #tsm
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Great breakdown Richard. You filtering through and condensing all the bullshit in the scene in an effort to inform us is something that I truly value, and I'm sure many others do so with me as well. Thanks brother, wish you luck with the last stretch before a well deserved holiday. You're appreciated.
5 videos in less than a week, god is good
I was going to say this too. GIVE ME MORE RICHARD LEWIS.
not only that but they're all mostly 1hr+
Amen
Really needed after the recent drought 😅
I'm an American. My loyalty lies to good people, not to organizations and especially not my own country.
This deserves 1000 times more views! Great vid, Rich!
Well now we know why Richard had to leave...
So he could drop this banger and not fear for his life quite as much!
This is yet another desperately needed video in the shady world of esports.
At this point "esports is corrupt" is like saying "have you noticed the sky is blue?"
I think you're fighting a losing battle, Rich, but please keep fighting! You are the hero Esports both needs and deserves.
Love how the video ends with Richard taking a sip of his cuppa.
I've not gotten into the FTX stuff yet, because I've been waiting for this video to drop for weeks now. Thanks a lot for your amazing content!
You're damn awesome Richard.
(paraphrase)
"I don't really know what I'm talking about, I get there's a lot of potential profit and even greater amount of hype, but I'm going to do what I feel is right, and turn it down".
It's just being a good, thoughtful human.. something that is severely lacking in today's world.
The people trying to shut you down in terms of crypto, likely has a position in the game, and thus would be against a rational, well-read, capable human, sharing his thoughts about it..
Like sure, if you came up fully dressed up as a professor and gave a lecture on merkle trees and got all the maths wrong, yes, you would make a lot of people angry - including me - but that's not what you're doing. You're sharing your thoughts at a high-level regarding a completely unregulated market filled with scams and the lowest scum on this earth.
I agree with all - I at least cannot recall a disagreeable statement - of your takes on the subject.
Loving the content as always. No better way to relax for an hour, gain some perspective and learn some things on the way. Great stuff!
Thanks to the call of duty people coming in and making tons of cs betting sites it helped be become a gambling adict from the solid age of like 14-17. Got out of it eventually but as soon as I got my hands on money during those years it was gambled away real fast. Me being that young also meant I had no perception of the value of money, I could 30x my money and keep on going cause I didnt realize how much I won, just how much more it could be if i keep on going
8:35 why is it that I, a lowly pleb with no business experience, a lowly musician, could have told you in 2019 that taking a ten year deal from a crypto company would be dumb and likely to collapse in less than 5 years but these experts all just took the damn money?
Oh yeah. It's because I would be trying to build an esports team for the ages, not to be flipped for millions of dollars asap...
As always, a well thought out exposé my guy. Keep em coming and keep fighting the righteous fight
Ftx were also sponsoring one of the biggest if not biggest team in Formular one, prooving the one rule of thumb : „if it‘s on a F1 car, it‘s probably shady“
Thank you for this video, and as an aside great recommendation of Georg Rockall-Schmidt. Your breakdown of FTX in esports pairs excellently with his breakdown of the companys inception and downfall.
I've really been enjoying your latest videos Richard, killer content 👍
you been on a upload W spree these past days, thanks for the content richard!
It always baffles me as to why esports wants to be intertwined with sponsors that either implode on themselves or are so dodgy the back alley meth dealer downtown is less shady than they are. Guess it doesn’t matter when you’re throwing around millions to put on lackluster majors in countries that only show up for a quarter of the matches….
Thank you Richard!
The amount of great content is out of hand. He can't keep getting away with this!
Thank you
I'm really looking forward to that clip of Richard's appearing: "IM A COOMER WITH A GIANT RIGHT FOREARM"
16:40 Don't forget that 100T's profit margins will shrink and things will get really bad for the company when demand for their premium priced clothing brand inevitably decreases as the recession gets worse.
As an lcs and league fan in general . this is destressing
Great topic to cover!
Me when Richard Lewis posts while I'm making my avocado toast, its giving vibes.
Because e-Sports is a pure business now, much like professional sports. This should be obvious when games like Apex Legends, totally uncompetitive games where people run around with bunk ass aim assist, are taken even remotely seriously as e-Sports. Twitter banter stupidity and cringe taken seriously, literal gambling being promoted, uncompetitive and bad games being considered e-Sports, and now promoting scam crypto. It's a joke.
I remember simply watching CSS and CS 1.6 pro games for the frags, sick plays, and sick teamwork. Not that other nonsense.
Enjoying the content 😊
these are really good videos. at least there is one actual journalist in esports
Absolutely loving the content Rich, I'll admit I watch too much. Do you have a patreon so I can show my thanks?
Really spoiling us this holiday season Rich.
Great vid Rich
I know you're not their biggest fan Rich, but it would b cool to hear your opinion on the Smash World Tour/Panda Global/FGC situation
Don't mind me, just binging all your recent content today.
Great shirt
Content king this week 👑
Crypto is just huge improvement for The money laundering ops. And for they to limit us, in terms og gamling. House always wins. Not anything else
IT'S A HELLHOLE!
From watching your content over the years, it has been since before I got into esports as a teen in 2011. The constant shit news makes me want to move on from the space entirely as a viewer.
Professor Lewis does it again.
Hell of a run
Ofc Riot swooped in to take an FTX deal... My heart sinks everytime I see the FGC hyping up Project L. Ignorance isn't bliss sometimes.
12:20 I had to stop the video for a good two minutes to laugh at that climate change joke. That was Dave Chapelle level setup and delivery.
If you want to see something interesting...Check out the number of paper contracts on gold and silver and the draining of the vaults in London and New York. Big money is using the paper derivative market to misdirect price and pull metal from the vaults while the demand for precious metals has been record breaking the last few years. Weird how demand goes up but the price goes sideways...
This isn't just inflation or a recession, this is the end of our currency lifecycle. In order to bring in the new system the old one needs to be killed off.
Notice how Canada is now trying to euthanize their citizens? The burden of providing free healthcare in all these developed countries has collapsed their economies and made them less competitive on the international market. Other countries will be following suit in the coming years.
Hot take, if an OG Esports Journalist doesn't understand crypto or how to properly utilize it to fund esports, how are orgs going to?
The majority of orgs, and esports journalists I guess, need to take the time to actually learn crypto and DeFi, not just accept money from COMPANIES (not crypto itself, but companies) dealing with Crypto (FTX for example) without understanding how it works or how revenue is generated. Otherwise, these problems will never end. IMO esports has never seemed to figure out any funding solutions outside of merch.
There's no reason for esports orgs to accept these sponsorships vs investing a portion of their funding or profits directly into blue-chip DeFi protocols and generating their own yields. Don't know how to? Hire someone that does. Don't like crypto? Cool - do it at a smaller level or return with something like dividend stocks, but there is a large issue with esports and gaming communities as whole mismanaging funds.
Esports needs more solutions being talked about, not just wagging the finger after the fact due to a collective lack of financial education.
Ah yes, the old "Crypto is fine, you just don't understand it boomer" take. Cryptobros have to get new material.
@@RLewisReports That's not the take. The take is you didn't give any solutions and showed a general lack of knowledge.
The take is esports needs better financial literacy as a whole, not just about crypto. But let your hatred for the unknown blind you the words on screen.
Also "crypto" is fine. Crypto is not the companies that use it. Companies have always been corupt. True crypto is decentralized. You have a very outside looking in opinion, but that's not shocking.
Wow, I knew there were some organizations and companies with questionable sponsorship and partnership money coming in, but I didn't realize the extent of the issue. Great video and analysis, bringing the severity of the issue to my (and likely others watching) attention!
On the note of crypto- specifically, what are your thoughts on the Epics GG / Kolex GG company, an ESL partner that has created NFTs since 2018 and Hybrid (Physical trading cards with a redeemable NFT) since 2020? I'm curious; could such businesses be beneficial for eSports scene, especially in areas like the North American CS:GO scene, to help develop talent and draw more organizations, or do you believe that they would cause more harm than good? Thanks in advance!
The answer is simple. 99.9% of being full of scams, as is 99.9% of crypto and NFTs.
In general, I would agree. However, I'll play devil's advocate for a little bit. Teams benefit from commission from the rights gained to use their photos on cards and whatever extra was included in the deal, and ESL benefits from commission of physical products and whatever else their deal agreed to. Alongside this, while they do not currently have any, teams trying to develop talent in struggling areas could potentially benefit from the additional revenue from commission.
While the crypto (Ethereum) it is tied to could in theory become a "pump and dump," the resale of the product occurs almost entirely in 3rd party (I can attest to it since I'm in the Discord), whether it be through PayPal, eBay, or other means of resale. Furthermore, the products are framed as "collectible cards" -- a set of products whose value is extremely volatile based on who does, says, or achieves something, alongside its scarcity compared to demand. This principle goes far beyond this company's products.
I'm not sure to what degree the commissions benefit the teams, and I'll admit it. Do I believe that these help teams significantly? No, but that's primarily because there's teams like G2 and complexity in there that don't really need it. I also hate that they tied the cards to a crypto, something they introduced (I believe) in 2021.
I'll also say, although I'm a member of their Discord, I am generally not a fan of the NFT aspect of things for a number of reasons, and solely (and limitedly) purchase their physical product since I've been a card collector for a while and want to show my support for teams through their cards since they are the only means to do so. If a company arose and made strictly physicals, I would happily detract.
@@nickk4044 thing is, if it's not regulated it will almost certainly end up in a criminal fashion like a scam or worse. It is shown everyday that people cannot be trusted. As much as it sucks, it's reality. Even without those types ventures esports is already filled with nefarious actors and crimes going on left and right. Imagine if there was an even less unregulated way of committing crimes.
I agree people can't be trusted, but to say a company bound by California law isn't regulated is untrue. The company was founded as a digital trading card company, similar to the Pokemon Online TCG, so it is not backed on certain promises like many crypto scams and such do. As a "collectible", they're only valued as and will only be valued as much as people demand and sellers willing to sell, so I'm unsure where the fraudulence would come in. Plus, it's not an investing project; it's an exchange of goods- the transfer of product after payment is immediate, aside from the pre-orders on their physical products, a risk any person takes from pre-ordering a product.
To harp on this point a little bit, a lot of your reasoning has been backed behind "unregulated." So if the industry was regulated, would these kinds of companies be beneficial to players and teams?
@@nickk4044 except they wouldn't be. They'd go to wherever allowed them to scam. As if Faze didn't find a way lol and even if it was regulated, it wouldn't matter. More than half the esports scene is already doing shady shit without it. NFTs have no value and serve one purpose only: to scam the next person. Same goes for crypto. The world would be a better place without any of that garbage.
its strange to me how esports journalism is impossible to find , this video should light the league of legends scene on fire and have everyone talking about it , but alas no one cares
listening to this right now. hope you talk about your m8 thorin taking blood money
What blood money has he taken?
@@RLewisReports from gambling sites. in every video he makes advertisement for that. the whole esport AND sport scene is sponsored by gambling sites.
e: okay not every, but many.
That isn't blood money is it you cretin?
@@RLewisReports do you think it is good to promote something that is very addictive and makes you lose money? many people lost their lifes by that. for me it is clearly blood money and i truely think that this is common sense.
It remains not blood money no matter how much you wish to call it that. You're just a cretin and shouldn't share your opinions on things such as this with people who aren't cretins.
I agree with the cypto shit anymore and I use to buy btc on circle at around $300 to gamble on csgo matches when lounge shutdown. Imo Illegal shit is the only use for crypto yeah I got a good size bag at the end of the day but the current climate is filled with scams.
I really enjoy your content Richard, but every video from you I end up staring at your book-shelfs considering to book a flight to come clean it up so I can satisfy my OCD.
Keep up the great work... I know you probably get more shite than praise, but know we are many out there that appreciate your output...
My favorite Doomsayer.
Nice
Sick fucking shirt Richard! 🤘
Off topic but I knew FTX was dodgy a long time ago, anyone who is willing to not only invest in esports but also sponsor TSM of all things is either incompetent or malicious. Kinda funny that some hardstuck bronze kid temporarily crashed the value of my wallet. There is a middle ground with crypto though, anyone who is either fully for it or against it is silly. If you're an individual investor it's simply just another avenue for you to put your 'play around' money into and whilst it is higher risk it also offers higher potential rewards. Actively trading or buying shitcoins is obviously gambling but I don't see the issue in putting a bit of pocket money into 'proven' coins like BTC or Ethereum periodically like someone would when buying bonds or stocks. The simple fact is that on the whole crypto is growing and if you were to get in at any point apart from the insane spikes over time you'd make more money than you would with that money just sitting in a savings account. I know it's boring in a world of people obsessed with get rich quick schemes, but if you put your life savings into crypto and then it crashes the next day it's not exactly the fault of crypto, you're just an idiot that would have done that with some other impulsive idea.
I just chuck a couple grand in that isn't essential to me here and there after crashes whilst the price is low and forget about it. If it does badly, who cares? I don't need that money but so far it has been pretty lucrative. It won't be life changing because I'm not stupid enough to invest life ruining amounts of money into it and I have many other things that I put my money into. I also dump quite a bit of crypto at peaks when I feel like I'm holding too much. If you want to escape being a wageslave you need to either become insanely successful, hit a 'gold rush' or slowly and methodically set up many different forms of passive income, crypto is just another tool in that belt. Crypto regulation is good for people like me.
weird
It's pronounced "CuraSSao" Rich ^^
richyyyyyy
Pog
Anotha One!