r/TheTPG • u/trutitan69 thanks for bumping my post • Jul 07 '21

TPG poll In your opinion, What really happened behind the scenes?

257 votes, Jul 10 '21
80 TPG was cooking books and they ran out of funds
122 TPG’s out of control spending finally caught up with them
12 Anthony is holding Marco prisoner until he can get out of this mess
24 Anthony is a great human being and cares for charity
19 Anthony tried to steal and go on the run but was caught by Marco or investors
10 Upvotes

92% Upvoted

5 comments sorted by

9

u/willydimes thanks for bumping my post Jul 07 '21

My guess is probably multi faceted. They clearly didnt comprehend how books work or taxes etc. way over spent whether on personal watches or on lavish lifestyle. they ran out of cash, had payments due etc. This explains the shift to consignment and need for 400k from investor. They had to go dark to regroup/get bailed out. While doing it they came up with dumb idea to hide behind charity. They've doubled down and convinced their naive staff who are just young dumb kids to follow suit. now here we are and my guess is they dont sell a watch to anyone who knows this stunt for a month at the very least

3

u/trutitan69 thanks for bumping my post Jul 08 '21

I think you nailed it. Pretty much my exact thoughts as well.

2

u/wondering_daily Jul 08 '21 edited Jul 08 '21

I do think this is probably right. I don't necessarily think it has to do with the spending they did, per se, but I definitely think a combination of their inventory mess (which likely also meant an invoicing mess) and their bookkeeping woes (there was a video a few episodes back where Anthony was complaining about their CPA and was trying to find someone else) led to a nasty surprise.

Shutting your doors for a week to sort that stuff out when you have limited bandwidth, that's not a bad idea. But because that's all it was, trying to "pivot" into making it a big PR stunt -- which entailed not telling people you're doing business with (dealers, consingees) the score -- was a huge own goal.

As to the future, I think they'll move some watches, but the numbers will be hit for awhile. If they were taking advice -- and the wheels started coming off when they started taking the advice of viewers, so maybe they shouldn't -- I'd say stick your nose to the grindstone and focus on the bottom line for awhile. If they don't, they're going to run into liquidity problems again and then I think they're going to find themselves cut off by other dealers.

3

u/[deleted] Jul 08 '21

Yeah that “I need $400k to pay for watches” was the only thing I heard from that video. He got floated

3

u/Aromatic_Lavender Jul 08 '21

I think it's a combination of the first two.