*Seeing some negative comments being made toward creators who were involved. These were people who knew Triple personally and knew him well, and some were even partnered with Evolved at one point. Don't flame any of these folks. I hope that we would be so lucky to have friends that would give us a lending hand in our time of need. It's a shame how this all played out, and hopefully they get their money back.*

@legoshi6531

3 ай бұрын

A lot of people dont understand because they have never been in such a situation. When dealing with family and close friends common sense goes out the window, sympathy takes over and the first reaction is to help.

@jayboone1888

3 ай бұрын

I honestly would have given the money too. Im all for helping others reach their dreams and if I felt it was risk free than for sure Id help. Sometimes things like this happen sadly, I feel for the people who got caught up in this. Eyes up guardian

@TwinNova

3 ай бұрын

Was interest in GJ loan terms? If so then GJ got what he deserved

@chevykamara2687

3 ай бұрын

Ahhh. Well, that definitely has some much needed context. I thought this was a random guy you all saw potential in and just gave a bunch of money to. That being said, it's way worse that he's not returning.. Do we have his side? What's going on with Triple? Still, tho... Be careful what you do with your money...

@trotard5708

3 ай бұрын

love you aztecross. W voice and opinions in the destiny community

TLDR in destiny terms: spider didn't pay Zavala back for his loan of 100k glimmer

@BombStars

3 ай бұрын

I fully understand now, thanks.

@loose_bandit5457

3 ай бұрын

Jake is def cayde-6

@gerard-ul2su

3 ай бұрын

FOR TITANS ONLY

@evankrick9898

3 ай бұрын

HERESY

@rubenjaimes1194

3 ай бұрын

😂😂😂

Had me real worried for a sec. Had no idea what was going on and thought someone was outed as a Minecraft KZreadr or something.

@route77productions

3 ай бұрын

I love that we know what that refers to😂

@kenzilbaptiste2519

3 ай бұрын

​@@route77productionsI don't be on social networks or anything like that to get that reference

@_Chillyboy_

3 ай бұрын

@@kenzilbaptiste2519minecraft KZreadrs have a frequency of likin little kids more than expected

@main_prime7520

3 ай бұрын

@@kenzilbaptiste2519 Minecraft KZreadrs commonly come out as being pedos

@bluetoadettethegoddess6104

3 ай бұрын

Kinda strange how "Smash player" and "Minecraft youtuber" have become synonymous in recent years

A loan is absolutely not an investment. A loan REQUIRES repayment regardless of performance.

@Dudewithadrumset

3 ай бұрын

Precisely. Sad that so many are uninformed and misunderstanding.

@legoshi6531

3 ай бұрын

​@@Dudewithadrumsetwell it's technically an investment. Because this loan was to be payed WITH INTEREST. The purpose of interest is solely to profit from said loan. So to a certain extent if there was interest, there was financial gain. Making this an investment.

@Endless10ppp

3 ай бұрын

some people break some legs for unpaid loans lol

@deadrot990

3 ай бұрын

Unsecured loans are rarely repaid after bankruptcy.

@ansherai5397

3 ай бұрын

@@legoshi6531 getting more money back doesn't differentiate a loan vs investment. gaining any degree of ownership is the line between them. loans are no ownership agreements of debt so not an investment.

Cross was smart demanding the financials first and not giving anything when he didn’t receive them

@ZoneZero253

3 ай бұрын

My thoughts too

@legoshi6531

3 ай бұрын

Extremely smart. Its what banks do and it's what he did. There's a reason why triple didn't go to banks. Because he didn't have the documents OR collateral to back-up a loan. He went to fellow businessmen, content creators, and friends hoping they would all be naive enough to loan him a LOT of money. And some fell for it.

@chevykamara2687

3 ай бұрын

As any conscious person would, I would assume...

@wg5331

3 ай бұрын

That’s finance 101 though. Any financial advisor (and we know cross has one) would recommend this. Think of it as a bank looking at your credit history before the loan you money to purchase a vehicle at a dealership.

@mymonstamix

3 ай бұрын

absolutely! In fact, I might take this experience as a lesson to learn.

100k is a LOOOOT of money. Damn, it's fckd that jake has to go through this when it was someone he was confident would pay em back. Glad he had some documentation.

@legoshi6531

3 ай бұрын

Unfortunately it's meaningless. When the money has been burnt and there's no collateral the loaner takes a massive financial hit. Hopefully there's some collateral Jake can claim. Maybe there's some properties or fancy cars he can take as collateral for the missed payments.

@123TheCloop

3 ай бұрын

@@legoshi6531 thats the entire point of a Guarantor. but regardless if Evolve defaults on the loan then Jake can take it too court and the court will allow Jake to repo propety to the sum value owed + interest OR the Guarantor takes the hit in which Jake can take him to court. He cannot take both to court though. Evolve/G1 have to prove they cannot pay the debt then Guarantor has to pay up. if that fails then Jake sue's the Guarantor who would then have to sue Evolve/G1 who more than likely wont have funds to pay anyway. But collateral is irrelevant. on a sum that large the court will allow Jake to repo property (doesnt even have to be mentioned in the loan document) because otherwise the company could be forced into Solvency and if that goes on for too long then Bankruptcy (which would also allow for property repo as collateral) which will more than likely be part of the document (forced bankruptcy for unpaid loan)

@Jreaddy

3 ай бұрын

And the crazy part is it’s not even all they owe, they blew other ppls money on their dream, that’s messed up.

@sirloin7633

3 ай бұрын

100k isn't a lot of money. What are you 12 years old?

@Silverbeardedsurfer

3 ай бұрын

​@@sirloin7633It's half my house. Feels like a lot.

Incredibly smart to ask for the paperwork before sending any money.

@Kait07_

3 ай бұрын

common sense

@hhaste

3 ай бұрын

Common sense is "incredibly smart" nowadays? Yikes...

@killinspr3e

3 ай бұрын

@@Kait07_ yes, however it’s also easy to be blinded by camaraderie when someone you know needs help.

@legoshi6531

3 ай бұрын

​@@hhasteit's not about common sense, it was someone they knew. A fellow businessman. A person they trusted and respected. More often than not when dealing with close friends and family common sense goes out the window because of sympathy. The human reaction is to help first. Unfortunately, close friends and family can still stab you in the back. It happened with my brother in my own life. He was stuck in the mud and he stole thousands of dollars and a very expensive sports car.

@Kait07_

3 ай бұрын

@@legoshi6531 A fellow businessman, there you go

Triplewreck? There's a name I haven't heard in years.

@dankerbell

3 ай бұрын

ye i thought he was one of those that quit destiny ages ago

@madmardigan3321

3 ай бұрын

Triplewrecking bank accounts

@jacktaber8489

3 ай бұрын

@@madmardigan3321 underrated

@ElDarric

3 ай бұрын

"nos veremos en los tribunales, mi amigo"

@SilverSurfer17

3 ай бұрын

@@dankerbellyeah he runs Evolve

Sucks to see someone else who had a decent following and was a fairly big mainstay in Destiny (Triplewreck, I’d say was still a fairly popular streamer for a while) gets in shady business. “Pretty dumb for Jake to give them that much money” it’s a loan, the same thing banks give you. And what happens when you don’t pay to a bank? Your stuff gets repossessed. Jake didn’t get paid back, he’s suing for that loss, as he’s allowed to do, and deserves to be paid back. Good on him for exercising his rights and protecting himself

@kenzilbaptiste2519

3 ай бұрын

Hah ..I know he had a nasty attitude long ago ...toxic ..man has blackface or something that looks just like it as an emoji in his twitch ...that was enough for me ...

@BrainWasherAttendent

3 ай бұрын

It was dumb.

@iponce2

3 ай бұрын

@@BrainWasherAttendent this is bait 🎣

@ethanhensley9355

3 ай бұрын

Triple wreck has gotten in sm drama over the years

@Lorentz_Driver

3 ай бұрын

K. Jake's still a clown tho.

Realist shit a teacher ever taught me was this. “If you want to get rid of someone, lend them money.” Life lesson learned at 17. Also only loan money you can do without, and don’t expect back.

@subzero308

3 ай бұрын

Oorr just tell em leave me alone 😂... And ignore them.

@JDxxatteis

3 ай бұрын

@@subzero308they don’t leave you alone lmao

When money is involved, no matter who it is, Family, friends, or lovers. It always changes people.

@matthew4031

3 ай бұрын

Changes or reveals?

@novamatter3432

3 ай бұрын

@@matthew4031 Depends on the person.

@wrighty4506

3 ай бұрын

@@matthew4031 both i have seen nice people turn into pricks with a little bit of money comes there way and i have seen quiet people get all loud and materialistic showing off after gaining bit of money i remember a video while back some dude was pranked with a fake scratch card and went nuts owning up to cheating on his girl nipping her in a sleep saying he always hated her and could not wait to leave her everyone was in shock telling him it was fake pure arsehole behavior he defo was revealed for what he was

@masque9446

11 күн бұрын

@@matthew4031 I've seen both tbh.

Jake seems like he gave them every opportunity to pay him over the last few years. Jake doesn't even need the money, it is a matter of principle for him.

@JizzSock_

3 ай бұрын

Nah. Its a matter of money for him.

@hhaste

3 ай бұрын

Doesn't even need the money? He's a Destiny creator, he definitely needs it.. besides, who are you to speak on his behalf? lmao.. you don't know him, weirdo.. Jake is a giant manbaby, as far as I'm concerned.. you should see how he reacts when he encounters a difficult build in PvP.. instantly turns into crying about getting things nerfed. Incredible that he has people that watch him complain for 8 hours straight every stream.

@dignelberrt

3 ай бұрын

Who cares if it's a matter of money or not? If you loan someone money, they are obligated to pay you back, he has every right to want the money back.

@Ah-pd2sv

3 ай бұрын

@@dignelberrtexactly doesn’t matter how much it is

@JizzSock_

3 ай бұрын

@@dignelberrt keep your pants on. No one said he wasnt supposed to pay him back

Enhanced due diligence is what Cross is referring to when he asked for balance sheets. Just assets and liabilities. This is standard practice.

@sproutedquinoa5179

2 ай бұрын

Asking for Financials is just regular due diligence? What makes it Enhanced? Do we get an additional .5 seconds after perk activation?

@abhibhakta3718

23 күн бұрын

​@@sproutedquinoa5179LMAOOO

I remember coming across some words of wisdom on this. Never lend friends and family money. If you give them anything it's a gift.

@lauzybro3660

3 ай бұрын

The one I heard and try to live by is "To never lend money (or anything) unless you are willing to not get it back." Leans into the gift idea I guess, but if my friends or family need a little help I don't think about it as long as I can be stable. On the other hand if I win like a $1 bet with someone they will never hear the end of it until they pay up 😂

@krackawoody2556

3 ай бұрын

My parents always taught me don’t lend out money you arn’t prepared to lose. Though if I lent someone money to help them it feels weird to expect them to pay back interest. Thats where it feels like investment because you’re expecting to get profit on the money you loan.

@subzero308

3 ай бұрын

Or just know ur friends and family aren't POS 😂... I've lent friends and family alot of money and always got it back. Just put them on payment plans depending on how much it was for if it was for a couple hundred then meh its a gift too me if its for thousands or tens of thousands then yeah make payment plans and that's it.

@Fadaar

3 ай бұрын

Only time I ever loaned anyone a significant (to me at least) amount of money was when I was in the military to another guy in my squadron. I never doubted him but I knew if he tried to fuck me I'd likely be able to have something done about it.

@MsBlitzVI

3 ай бұрын

My parents always said that me. It has happened to them before in the past when their families wanted to borrow money for the house. Sadly they never got the money back.

I DID get the financial statements, and decided to risk it and invest. I'll probably do a whole video about it. But damn. We go swindled lol.

@lightningszn

3 ай бұрын

never expected to see you here lol

@stevewilson6723

3 ай бұрын

An investment in something you believe in is a leap of faith. It is easy to get wrapped up in the common vision and comradery of it all. You wanted to believe in the vision and got wrapped up in the confidence game they were peddling.

@frankyang2515

3 ай бұрын

NUCLEAR ~HOYOVERSE~ DESTINY DRAMA

@peppapog8376

3 ай бұрын

Got bad news for you bro, you’re not gonna get shit back. Unless you can prove that despite reviewing their financials you were somehow mislead you don’t have a case…

@downykitten6439

3 ай бұрын

He likes his gotcha games. A lowbrow upstart investment seems par for the course.

In other news I finally got Conditional Finality this morning before work XD

@HockeyFan102

3 ай бұрын

We don’t care

@JoseRodriguez-rn3mu

3 ай бұрын

👍

@0DeathTheKid15

3 ай бұрын

Nice work

@Lorentz_Driver

3 ай бұрын

@@HockeyFan102 I do :)

@aarchunterontheinternet9918

3 ай бұрын

Nice

Conctracts are absolutely not meaningless if they can't pay. They hold value in that exact situation, because a contract in a court-process actually matters. And handshake? A verbal agreement? Good luck. Get a contract for large financial transactions and business agreements, always.

Oh shit drama

I remember a video Panduh posted a while back about why he and some others left G1. I can't remember the details but it was along the lines of horrible pay, so this is no surprise to me. A real shame considering how cool that G1 montage was lmao

@thealldayspecial

3 ай бұрын

I remember the "G1 Strats" memes from way back but yeah something definitely seemed up when a lot of people seemed to have gotten extremely quiet about them over time despite the boosting over the years, and it basically being ran like a pretend esports company with more of an emphasis on "life style brand"(see overpriced merch). Good on Jake for taking action.

There needs to be a courtroom in savathuns realm where guardians go to court in game

@ArkhamIzumi

3 ай бұрын

So basically Ace Attorney destiny edition

@joshuafranz7416

3 ай бұрын

Repurpose the Court of Oryx

@HokieAndrew

3 ай бұрын

The Bankruptcy Court of Oryx is now in session.

@solosnek

3 ай бұрын

we will use the old ways

@theycallmesupa5928

2 ай бұрын

​@@solosnekdreadnaught basketball?

It's scary people watching don't know the difference between a loan (only has fixed interest) and investment (capital gains/loss based on value change) and in bankruptcy creditors are paid before equity holders.

@masque9446

11 күн бұрын

scary, but unsurprising. Financial education is not given in school in America until college, and only then if you take certain courses (it is not required to take any finance/econ/business courses to graduate with ANY degree). So it makes perfect sense to me that most people are in the dark when it comes to financial matters. The fact that most people do not recognize the importance of these matters and seek to educate themselves is altogether another issue.

Never loan money. It’s a hard lesson to learn.

@hhaste

3 ай бұрын

Glad I learned it early on, with a small amount of money. Everyone else I'd ever loaned to paid back. All it takes is that one person..

@jacktaber8489

3 ай бұрын

*college debt has entered the chat*

@Chickymasala

3 ай бұрын

Never loan money you cant afford to spare. GJake was out to help a brother. Cool on him. It sounds like Jake is comfortably afloat regardless. But business is business, now he’s exercising his right to shred everyone down to get his money back. Which just makes this a plain shitty situation Can’t say anything about his relationship with Wreck after this. What looks shitty is that GJake, living comfortable where he is now, is about to take his already broke friend and his associates to the cleaners. A better axiom maybe is “don’t bring money matters into a personal relationship”. Whether Wreck and Jake will ever be on speaking terms again will remain to be seen.

@BenFranklin813

3 ай бұрын

Especially to friends. Loan money to family if you are able to live with not getting it back

@Joemama-xw2wy

3 ай бұрын

@@ChickymasalaDon’t take out legally binding loans from people, or anything, if you can’t repay it.

I feel bad but you do have to be incredibly careful with that much money. Even with paperwork and contracts it doesn’t meant they will pay. Not entirely his fault, of course. Let’s hope it’s sorted out fast and not another case that gets pushed under the rug.

@Mytube6138

3 ай бұрын

Exactly. Cross kept saying that it's risk free because it's a loan, as if the most famous economic collapse of our lifetimes wasn't caused by rampant bad debt

@deadprecidents

3 ай бұрын

Only way they won’t get something is if they have NOTHING.

@Lorentz_Driver

3 ай бұрын

Nah it's his problem. No sympathy for someone that rich.

@FairyFarron

3 ай бұрын

​@@Lorentz_Driverendorsing criminal behavior huh? That's cute...

@nazarus1283

3 ай бұрын

​@@Lorentz_Driveryou're filled with garbage takes huh?

Friends and money never mix. Do NOT EVER loan friends money. It will always bite you in the ass.

@oFiGuReZo

3 ай бұрын

Not true. Ive borrowed from friends and loan money to friends and we always paid it back. You just have to make sure it’s nothing you can’t afford to lose and only help those you truly know well.

@masque9446

11 күн бұрын

@@oFiGuReZo yea I mean maybe I'm just very fortunate to have quality people in my inner circle, but I usually get paid back immediately. Also, my friends know me well and they will not ask for a sum of money that I cannot afford to lend them.

Seeing this is wild after Gamer's Nexus put out a video yesterday about nearly the exact same situation with EK Waterblocks. The wider computer hardware industry has been taking it on the chin the last couple of years after the Covid bubble.

No good deed goes unpunished

I cant believe people dont know what a loan is and what it entails for both parties. I have seen some crazy takes on twitter and yt comments

@rathscendance

3 ай бұрын

Yeah same, like goodness this isn't even funny to read at how uneducated people are about this.

@williameldridge9382

3 ай бұрын

Yeah, they're all like....oh, they charge interest, so they're profiting! That's NOT the purpose of interest. It is ensure you get as much of your money back as possible, as quickly as possible, before the loan defaults. If you HAPPEN to make some money on it? Great.

My mate still owes me a tenner Gotta be careful out there fellas

@justin9489

3 ай бұрын

Yea you better let that go, broke boy. Don’t loan out money if you can’t risk losing it.

@jackalexande

3 ай бұрын

@@justin9489 what

@nicklee3917

3 ай бұрын

Take their ass to court, buddy

@masque9446

11 күн бұрын

@@jackalexande it's ten bucks....if you're worried about ten bucks, you're broke as fuck. Does what he said make sense now?

I can't imagine staying at a company that hasn't paid me for SIX MONTHS. If I work somewhere and I don't get a paycheck even once, I'm out. It almost never gets better from the first missed check, no matter their excuse.

@masque9446

11 күн бұрын

yea I'm the same way....the VERY first missed check and I will go to work and clock in, and then proceed to head to HR, where I will spend the remainder of the day. I usually do that for one workweek as I'm looking for other jobs.

Financial Professional here A loan is NEVER an* investment

@Lorentz_Driver

3 ай бұрын

Yes it is. You're investing in someone's future.

@GodEater015

3 ай бұрын

@@Lorentz_DriverI think a job covers that. Not begging others for money in a nutshell.

@grayden4138

3 ай бұрын

​@Lorentz_Driver When you loan money, you don't get capital gains back based on the performance. Thats the definition of investment. You put money into a venture with the intent on a return but no guarantee. A loan is giving money w fixed interest to be paid back within a agreed upon time frame and is guaranteed. They are two different things. When you go to the grocery store are you investing just because you're giving them money? No. Is it a loan bc youre giving them money? No. You're exchanging money for goods. It's a transaction.

@G1nSan3

3 ай бұрын

@@Lorentz_Driver dude an investment has a clear definition. u dont know what u are talking about.

@nazarus1283

3 ай бұрын

​@@Lorentz_Driverlmfao

Money is the one thing that I refuse to give to friends or family members. That stuff changes people, and you can never be 100% sure that you'll get it back.

@masque9446

11 күн бұрын

I disagree....I'll GIVE money to friends and family members to make them happy, but I would NEVER loan any money to friends or family (bc I know it's unlikely I'll see that money again lmao).

Jake should bring this out in the world as he is doing. Facts stand tho that if a company cannot get financing from banks or appropriate institutions the should NEVER get it from friends or private lenders. Unfortunately I believe than lawsuit or not Jake is gonna have to forget is money! 💸💸💸

Damn. TripleWreck. I remember playing with him back in D1. Really good player back then.

@JizzSock_

3 ай бұрын

I've always thought gamers were scummy. I was right again.

@voidtankage4289

3 ай бұрын

Reason why he was good was he used to play uncharted 2 and in that game he always stacked with the best players and was a douche. Then he got famous on d1 idk why people liked him as a streamer.

@svn5994

3 ай бұрын

@@JizzSock_ Yet you're here.

@zopler5537

3 ай бұрын

⁠@@JizzSock_damn imagine generalizing millions over a few shit KZreadrs. Guarantee I can find just as bad if not worse in any community. Stop being small minded and act your age.

@Faytedsoul

3 ай бұрын

Pretty sure he quit cause he got got blatantly hacking.

Loans are never risk free. Just ask any bank - there is a rate of default even if it’s close to zero.

@williameldridge9382

3 ай бұрын

Defaults happen very, very, very frequently. In fact the majority of the time loans get defaulted. That's WHY they charge interest, to get as much of their money back as soon as possible.

Moral of the story don't lend friends loans they can't pay back ruin friendship

There's two ways to handle loans and either is fine in my mind. Growing up my dad always said "a loan to friends and family is a gift. If they pay you back, great, but if they don't that's also fine". I've always treated things that way. The other way is to make sure to have a contract in place. Glad to hear Jake was smart and had contracts all along. Hopefully he can recoup at least some of his money.

Damn, I watched Kenny when he was playing at Texas. This is sad to hear

@johndoe1274

3 ай бұрын

A lot of these types of people who play sports end up becoming grifters because they're so used to the self-indulging lifestyle that comes with expensive sports contracts. They can't grow up and manage in the real world essentially.

its crazy how much bread yall boys are making in the content space.

I used Aztecross's code for Evolve ages ago now when he promoted it. It still kicks ass & I appreciated the discount but it's kind if sad to now wonder if the warranty will disappear with where ever they've gone. Glad to know some people were able to dodge the shittery happening.

Cross, you sound knowledgeable in finance, showed great wisdom in asking for that balance sheet.

A couple of long term friends asked me to co-sign a loan for them but I said no. Never put yourself in a position like this. Friends and family will F you over money. Money will make even good people do bad things to you.

Don't loan money to friends you aren't comfortable never seeing again. That goes for the money and friend.

My parents always told me the best way to not lose a friend is to not give them money. Once you give them it, the situation between you changes.

What's sad is,I've seen many small businesses go under due to so called bigger businesses not paying up for services and supplies

It sounds like he addressed the video to the judge haha.. He making his case.

@nickgrout2502

3 ай бұрын

Making his case public moreso.

@Alphuuu

3 ай бұрын

they can easily submit this video as evidence so hes being smart

Saying zero risk in any loan is untrue unless you're a bank or a company that has insurance for said loan

Glad to see the mention of wanting financial docs. That was smart

This reminds me of the MXR Plays situation. Same amount too. $100k.

Aztecross, I just wanna say you're always a super chill dude to watch, and when it matters, your opinions seem level headed and honest. Just wanted to say I respect you and the community you've built. Keep it up 🤘

People are saying “friends” but real “friends” don’t change because of money

@Aztecross This is very important real-life shit that happens all the time. I'm glad you made this video and gave a perspective because most people would go the friend in need route and not think much of it other than: "Ok, pay me back whenever agreed upon." There's always a question worth asking, always a piece of the puzzle to fit, and you should never feel guilty asking to see proof or validity before potentially parting with what could be make or break money for your own well-being or your family.

Well done fellas, its good to see people come together as a community like this.

I was very involved in the D1 sweats community (I was in Invigorates main comp team). I knew triple along with other members or IAM, Godsquad, BSK... If you knew any of those people behind stream curtains its baffling to know people would ever invest or trust someone like Triplewreck with money.

@Nightstalker3791

3 ай бұрын

BSK had the whole DDoSing and doxxing thing but their stuff that got posted on medium got deleted

@TeKnoVKNG23

3 ай бұрын

This 10000%

@yblackcaty5094

3 ай бұрын

@@Nightstalker3791 there was so much more than that too. So much stuff I could easily leak

@Nightstalker3791

3 ай бұрын

@@yblackcaty5094 If I was in your shoes I'd expose them but it's down to you. I find it funny when I've read on Reddit over the years that other players believe the Destiny playerbase are much less toxic than other games but I'd say the toxic playerbase is far more hidden. Some of the BSK happened a bit before the SNTR allegations that later turned out to be false. I'd take the lobby smack talk in OG MW2 lobbies over the stuff I've known about with Destiny players all day.

@williameldridge9382

3 ай бұрын

@@Nightstalker3791 Destiny isn't the worst, but it is absolutely up there. That is why I turn off all social features including voice and chat in game. I want nothing to do with the reprobates. I blame Halo for the toxicity in the gaming world. When that game came out, it all went downhill. Nothing against the game itself, but the popularity of it drew in an absolutely massive audience of the worst people humanity has to offer.

This sucks for GJ, but serves as a great lesson for the rest of us, especially thise who are just starting to work and gain financial independence: don't loan your money out

Smart move cross! Always ask to see the books before you get involved!

I forgot cross was an accountant.

Why give anybody a loan(Over a phone-call)? Especially to internet acquaintances which I assume they are to Jake. Like maybe a friend I grew up with could get 10 grand off me if he really needed it but 100,000......Jesus!

@adambarnes4191

3 ай бұрын

100k to Jake is less than 10k to you. I'm not saying 100k isn't a lot, but dude is worth 50x that much. It's not like he loaned his entire life savings

@Harrison-zc3hu

3 ай бұрын

@Mattblaze1477 it’s not like he said yeah and instantly wired it over while still on the phone. He agreed and had some legal paperwork written up that both parties agreed to before sending anything. That’s why he’s able to file a lawsuit.

@williameldridge9382

3 ай бұрын

@@Harrison-zc3hu irrelevant. Never loan ANYONE money, ever, not one single red cent. It doesn't matter if they are your family or your best friend of 40 years.

Dodged a bullet there man, smart questioning 👊🏼

The problem with going to court is that if/when they rule in your favor, they do not oversee repayment. You can go back to court over somebodies lack of payment because of that. Good luck getting the funds back.

Love these kind of "inside baseball" videos. Industry talk is so interesting to me.

Not giving anyone 100k, I'm not a bank. Shame he got played. Kenny in the wind somewhere in the Philippines.

@nightwings8984

3 ай бұрын

Its not the same if you dont have it. Its like the analogy, if bill gates gave what he sees a "quarter" to someone, it would get them through 4 years of college because a quarter to him is 80,000 dollars.

@williameldridge9382

3 ай бұрын

@@nightwings8984 I don't care if it's a penny, I ain't loaning it to anyone. Ever. I'm by no means rich, but I do well, and I wouldn't loan a single red cent to anyone, not even my mother or best friend.

There is no way a loan is ever considered an investment

@tokymack9548

3 ай бұрын

loan companies always are partnered with lawyers because they bet on people taking 50$ and not being able to pay them pack. thats where they send the case to a partnered lawyer that gets money from the government for calling out people who didnt pay their dept. loan companies get a small share off that. at least thats how it works here in germany its incredibly fucked up

@justindemont6062

3 ай бұрын

By definition an investment is a loan, you're giving money with the expectation that you will be paid back unless stated otherwise. If you're giving money without the expectation of being reimbursed it is then a donation. Can't say for sure what Jakes situation is on it but if the paperwork says investment or loan they'll be legally obligated to pay him back. Unless they declare bankruptcy which is the most hilarious thing I've ever seen basically saying whoopsie daisy I'm broke

@Alex-ug9wx

3 ай бұрын

@@justindemont6062no they aren’t, because loans have a protected guarantee of being paid back. Investments are risk based amounts of money with the expectation of a capital gain. Investments are something that a court would force you to pay back, if that was the case, no one would ever make a “bad” investment (which has been seen in this company).

@Lorentz_Driver

3 ай бұрын

You're investing in someone's future.

@curtisboatman1009

3 ай бұрын

@@justindemont6062It’s not an expectation to pay the person who loaned you money, it’s a legal obligation. If you do not pay that person back then they can take legal action against you which can lead to financial penalties and or jail time.

These stories were in Sports Illustrated last year. G1 hasn’t even paid it’s Staff, or it’s Teams.. like the Original team rosters. And, as mentioned, even the multi million dollar facility they did in Texas last year. Soooo… what’s 100% of 0? Unfortunately, that’s what it sounds like this lawsuit will turn into.

regardless if its a long time friend, family member or colleague.. research or findings should be done to see if they have lent money from others and paid them back, basically their track record needs to be seen by any means before giving a large some of money as a load.. coz its the people closest to you or the ones you (think) know the best that betrays you the hardest.

@williameldridge9382

3 ай бұрын

It doesn't matter who it is or the circumstance, NEVER loan anyone money. EVER.

Sucks he tried to help and got shafted sorry Jake

@omensoffate

3 ай бұрын

Never trust anyone

Never loan money to anybody who has a silly pirate nickname...

Never lend friends money unless you dont expect the money back

I met Ari when he moved to Dallas and lived there for a short time, got to find out a little more about him and he never came across me as someone who would be involved with something like this. As the saying goes, and I learned it well the hard way from members of my own family, money does things to people, and looks like it got him too. Its ashame and unfortunate, and Im really disappointed to hear all of this with his name involved. However, this also isn't the first time he has been sued before for not paying someone including his own employees, so yeah.

Who thought this vid would be about Jake cheating in trials 😂😂😂

Unfortunately, in Texas, if you win a lawsuit, there is not much to be done. They can't garnish your paycheck. They can't take your vehicle or home unless you own more than one. All they can do is put a judgment against you. But again, whatever house is homesteaded, primary vehicle can't be taken, and checks can't be garnished.

@janktron

3 ай бұрын

You can absolutely have your paycheck garnished in Texas. Not sure where you got this information. Happened to me for 4 years living in dallas

@mythsa68

3 ай бұрын

In Texas, wage garnishment is prohibited by the Texas Constitution except for a few kinds of debt: child support, spousal support, student loans, or unpaid taxes. A debt collector cannot garnish your wages for ordinary debts. However, Texas does allow for a bank account to be frozen. Once your wages are deposited into your bank account, the funds can be frozen and possibly seized. In order to do this, a debt collector must have won the lawsuit and had an order issued by the court. This can be confusing because the order is called a "writ of garnishment" but it still cannot be used to take incoming wages. Texas Constitution, Article 16, Section 28

I really enjoy this type of content, always seems like cross has quite some knowledge on such topics

Good for the kids watching to aware of this situation going forward in life

Gamers thinking they are business men and women.. No different than 20 year old athletes making bad decisions..

@johnnynunez1843

3 ай бұрын

What reason is there to believe gamers can’t be business men/women? Cross is an accountant or at least was. Full time creators had full careers in most cases before switching to streaming/content creation full time. Gaming is a business. And like any business you live and learn. You make good decisions that ultimately fall through.

@williameldridge9382

3 ай бұрын

@@johnnynunez1843 You were on point until that last sentence. Good decisions don't fall through. If it fell through, it was a bad decision from moment one, you just lacked proper information.

Jesus Christ is Lord, King and Our Savior!

Did Jake cover this on stream?

If a friend ask for money. You can ask for financial to see the cash flow and operating cash flow to understand if they are burning cash or making cash. Also look at their inventory and backlog to see their furture availability to make money. And then you write a contract with warranties and liquidate damages if they fail payment. You need to have clear triggers

Jake again complaining about something Just go through your lawyers.

@TenshiThesseus

3 ай бұрын

He loves to cry and get attention

@TeKnoVKNG23

3 ай бұрын

My first thought was I bet his lawyers love him making it all public. They will probably tell him to keep any details about the case off of social media going forward.

@TheOneAndOnlyLUUUU

3 ай бұрын

As much sympathy as I have for his case here. Why is this shit public? If it is all and done then tell this story but not before anything is settled.

@williameldridge9382

3 ай бұрын

@@TheOneAndOnlyLUUUU So nobody wastes any further money on that company. This should ABSOLUTELY be publicly stated.

Gernader gets carried in trials for his streams and moans and cries whenever someone outskills him, so I don’t care for a single word he says

That's rough to hear. Sorry Jake and all the others eho tried to help out. Hopefully yinze will get some of your money back. With the time that the legal case and lawyers fees will take I doubt it will come close to the original amount lended. Money can bring out the worst at times unfortunately

So after he sued them,what happens?i guess they go to court and the judge will seize assets to reach that 100k? How does it work exactlt?

To be clear guys: Loans are not risk free, they are not remote of credit risk. What they ARE is above equity in the capital stack. If You made a loan to a company/person and they cannot repay them you have no legal recourse. That being said… as is pointed out in the video, that does not apply if you were mislead into making the loan. I.E saying your company is in good financial health to a potential investor when it isn’t. However, as tends to be the case when this happens; if the money is gone and neither the company or the party deemed liable for misleading you can afford to repay you will not get your money back and there ain’t shit you can do about it. This is why Cross did good asking for the financials, standard credit check process. Banks do it for a reason…

I still remember Linus frim LTT once saying that getting into the PC building business is very volatile and not secure to invest or loan in.

Idk that his lawsuit has any legal standing unless he got everyone to sign contracts and not just any contracts either they have to be court/state recognized contracts. Any other "paperwork" will have no legal standing in court and the state will tell him it's his own fault for giving someone 100K off of their word.

I've know Jake since D1. We used to run trails carries together. I cannot believe that he is going through this.

Hope everything works out for everyone involved 🙏

Having purchased an Evolve PC I'm happy with the results, but given all the issues that followed that delayed my pc by several months I'm not at all surprised by this outcome, even if I don't know who any of these people are.

Smart of him to keep legal docs.

I agree that this needs to be public. A loan is always a risk, which is why Jake was wise to take whatever precautions he took that he was referencing in this video. Obviously there are no guarantees, but it sounds like he worked to make sure he had legal ground to stand on if the loan repayment plan fell through. And for those saying "it's just a risk/investment/don't discuss publicly" It's obvious that Jake at least took that route for a while. He could have said something a good while ago, but didn't. He worked with them, he talked to them. And it sounds like he was even a little flexible with them around payments and such. But eventually, it turned out that playing nice wasn't going to get him anywhere. And if that is the case, then these people are dangerous because they will repeat this behavior. Publicly posting is less about shaming them, and more about warning other people away from them. I know it shouldn't be surprising, but I always find it somewhat surprising when this side of a streamer or video content creator's world shows up. Virtually all of the times I'm watching someone like Jake or yourself, it's while you're at work playing the game. And while I know behind the scenes it's a brand and a business. It always feels a little disorienting to hear you guys talk about the business side of things. Because in my head, ya'll are just other gamers like me and my clan. I forget that you're also business people, sometimes with whole teams that you manage. Sometimes I think I could do streaming and content creation. But I know I don't have the business sense to actually make a brand that works and lasts. It's impressive. And I think Jake was more than generous here. I hope he gets at least some of his money back, but at this point it sounds doubtful.

This is super unfortunate. Glad Jake protected himself.

Having been in the D1 community so long, seeing the stuff with lono and now this is like a current boogie nights redo. This stuff is so crazy!

It's good to bring attention to it, but man if I'm his lawyer(s) I'm face palming right now. Never discuss anything about a case online on social media, that's like 101. It might not be much or anything at all, but attorneys are so good about spinning things, you never know what it might F' up in a case. I'm sure if they see/saw this, they are telling him to keep his mouth shut from here on out.

Also: if a friend is asking you for a loan, they are likely asking because they know the bank won't do it, making that transaction all the riskier.

He said originally that it was a short term loan meant to be paid back within a month. Since it’s a short term loan the interest rate will have been very high. It’s now been over a year, I would be insanely interested (pun intended) to see how high the interest has ballooned on that loan. I imagine the amount G1 owes Jake is a lot more than 100k at this point.

Does anyone know how this works. So what happens if in this situation they get sued and a judge orders them to pay back 100k plus legal fees. What would happen if triple then goes ahead and files bankruptcy.

@johnnynunez1843

3 ай бұрын

This is an excellent question! The simplest answer is most likely. As the $100k loan would be considered an “unsecured loan” although there’s no way to tell without seeing the terms of the agreement between Jake and him. Of course it’s important to understand as well that there’s many risks associated with Bankruptcy and you have to pass a means test to even qualify.

Anytime a business can't get a loan from the bank for there business it speaks volumes and maybe you should follow the banks lead not a good move at all

@omarlocke4351

3 ай бұрын

well, these are destiny youtubers after all. just look at the things they’ve supported and called for over the years. a fool and his money...

Never give a friend a lot of money. It's a very common way that many friends fall apart. Get them a gift? Sure, but loads of money is only gonna to complicate your relationship 99% of the time

Wild how many people are of the mindset of if you give any money for anything, contractually or not, you are not guaranteed any of it and you are perfectly fine to be lead on over months and then ghosted, and that that was your own fault. Contractual agreements mean something and it is important that people be held to them legally or else stuff like this will happen all the time, and we would live in a world where nobody will help each other. Hoping the best for everyone affected!!

Its insane how many businesses have started and gone under due to mismanagement the last five or so years

and here i am remebering when G1 first came out and seeing Kenny was the owner and thinking it was sick an NFL player was the owner 😂

terrible situation, but glad we got to hear your side cross.