James Watt returns to beer with Second Best and free shares for BrewDog Equity for Punks investors

Snake oil salesman

 

That is some bold shit.

 

There's something very 'calculating' there (19.3% is a strange amount). If the offer were made in earnest, why not allocate 50% (okay 49% since he would want to retail control) to the punks who were shafted and increase their investment's value at the same time? And why is he making everyone sign up to be a part of this? Give this new ownership share outright to everyone - you probably have everyone's personal info to apologize and offer this gift.

 

Maybe a more appropriate brand name would have been First Worst?

 

I ain't no rocket surgeon, but.....

The dude didn't have (or couldn't raise) enough money to keep his existing business going, but does have (or raised) enough to start a nearly identical business? And give away a fifth of it right at the start?

I don't understand. But, I ain't none too bright.

 

just gonna have tilray brew it for him at the facility he got a bunch of suckers to pay for in the first place and try to make $$$ for himself
please go away

 

Color me "skeptical." Or should it be "sceptical?"

 

I'm not a UK governance expert so don't bet your life on this. In certain situations you need 80% ownership for total control. Given the number of potential shareholders, additional shareholder rights might kick in requiring 80% approval to pass/implement certain actions.

 

Watt has assets that weren't part of the BrewDog business that failed. Most of the investments were lost by other investors. He probably drew a healthy salary until the end. He had other assets too. He might not have committed every pound to the business at the beginning. He made at least 50M pounds selling some of his ownership share to investors (https://www.bbc.com/news/articles/cn4ggqgyk51o). The "give away" of a slice of an uncertain start-up is a minor nod to the earlier "investors" who were left holding the bag.

 

Sarcasm doesn't really land on you, does it?

 

How about " Tastes Better the Second Time "

 

I'm fairly certain this kind of business acumen can get you elected in the U.S.

 

That phrase is exactly what I was thinking when I read about this earlier this week.

 

Agreed
Smells like a scam

 

I’m not willing to write this off solely based on the limited information we have, but it would benefit an entrepreneur to publish a prospectus or other IR materials to better understand this new venture - even before considering James‘ reputation

 

Did anybody read Catch 22? Watt might have. He seems to emulate entrepreneur, Milo Minderbinder, who told everybody around him that they all have shares in the syndicate.

 

Nice analogy.