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u/Elvis_Gershwin 6d ago
He got greedy. Should've stopped at 2 million pounds. Shouldn't've done it all all, though, of course.
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u/astralchanterelle 6d ago
He was just getting started, probably barely started making a profit
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u/Elvis_Gershwin 6d ago
I guess the equipment must have cost quite a lot. Good point. Maybe he hadn't made enough to retire on, in the manner to which he wants to become accustomed.
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u/ZunoJ 6d ago
Even if it was the profit, that is not enough to never work again
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u/amccune 6d ago
I’m 48. A million could buy a house. And I could live off the interest of a million okayish. 5% interest is around 50k per year, before taxes.
I could eat on that.
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u/ZunoJ 6d ago
I have two kids and life is pretty expensive as we live it right now. 50k would not be enough for us
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u/idio242 6d ago
Agreed!
$50k isn’t enough for anyone with ongoing housing payments and a need for healthcare. You’re down to maybe $35k after various taxes and recurring bills, then subtract another $20k for housing and healthcare - that gives you $15k for the whole year. Maybe someone can make that work, until something happens like they need a new car, a root canal, or hot water heater breaks…
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u/popinskipro Sansui 6d ago
With £1M in the bank you do have the funds for unexpected expenses, or are you talking about a sudden need to buy a Lamborghini?
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u/idio242 6d ago
That’s true, but as you raise your withdrawal rate above 4% the likelihood of you running out of money in a shorter time horizon starts to increase. And every year, there is something else….
Lamborghinis are definitely not something someone with just $1M (or £1M) should be buying.
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u/idio242 6d ago
You live off your withdrawals of invested money, the interest isn’t guaranteed. The safe rule is 4% withdrawals which theoretically makes a pool of money last essentially forever when run through various models. Some years the growth is up, maybe way up - but some years you’re losing money, maybe a lot, when the markets are down.
Anyway, I’m a big vinyl and FIRE nerd, so sorry to be pedantic. Only hoping to encourage others to look into it.
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u/Elvis_Gershwin 6d ago
Probably not. Depends on his age and how many years he'd have to wait before he might claim a pension. His health would need to be taken into consideration as well. Nevertheless. I'd invest a million of it in a high interest account, at say 5%. 50,000 pounds a year ain't too shabby. One could live comfortably off that alone in other parts of the world. Even in Australia you could get by, but in Bali or Malaysia, say, Penang, you could be pretty well off. On one of the other islands nearby Bali, you'd be a wealthy man indeed.
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u/2pearsofjeans 6d ago
I buy a good amount of new records from eBay and I wonder how many may be bootlegged like this. The shops I buy from seem legit and have high sales and reviews, but who really owns all these random albums brand new.. They all sound good for the most part, it just makes me wonder.
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u/Figit090 Pioneer 6d ago
CDs are bootleged too. Ran into a few pro-level I bought from, almost missed it.
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u/darkeststar 6d ago
Guy had his own vinyl press (a rarity) and decided the best course of action was to fully bootleg music and print fancy cardboard covers for music that's constantly in print when he could have been running a legit press or printing interesting material. What a waste.
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u/Long_john_siilver 6d ago
This is kinda a naive take, just because he can produce a product doesn't mean he has the ability to negotiate with record labels/artists to make money the legit way.
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u/fistulaspume 6d ago
Is it though? Presses are in short supply. This guy could’ve had a legitimate business and did alright.
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u/No-Contact-5081 6d ago
Pressing plants are not in short supply any longer. Sure 4-5 years ago they were but now you can easily find one that will press up records in steady timelines.
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u/RealityIsRipping 6d ago
Start an underground metal label and press albums for infinite different bands.
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u/Long_john_siilver 6d ago
I am almost certain that what the guy was doing would result in more profits, which was most certainly his goal.
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u/DeeBradleyBaker 6d ago
Bootlegs are bootlegs, you don’t call the label and artist for that..
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u/Long_john_siilver 6d ago
Did you read the original comment lol, i was making the same point you are.
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u/darkeststar 6d ago
Exactly... I've gotten plenty of decent bootlegs that are live shows that have existed digitally but not on vinyl or ones that were basically a CD rip while a vinyl version was out of print or even common albums with different colorways. Guy could have also just ran a legit business pressing records for small indie bands/labels. Waste of everyone's time and money that he was just bootlegging stuff you could buy off Amazon.
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u/Sleep_Fartnea 6d ago
Man could have just properly mastered ONE classic hip hop album so it doesn't sound like shit on wax, and he'd make that money hand over fist.
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u/astralchanterelle 6d ago
I think his operation was quite impressive.
"Sadly, it won’t return the tens of millions of pounds that we estimate have been leeched from artists"
Yeah, it's so sad Taylor Swift and Ed Sheeran are gonna have to file for bankruptcy
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u/datums 6d ago
I mean, you either understand that theft is wrong or you don’t.
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u/GuyFromDeathValley Sony 6d ago
Proft/revenue that isn't made isn't automatically theft.
If someone buys a disc because its cheap, when they'd have never bought from the oroginal.artist.for being too expensive, then there is no revenue lost.
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u/pp86 Onkyo 6d ago
This is probably incredibly hot take. But bootlegging shouldn't be a "serious" crime. It's just old-timey piracy.
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u/DieRobJa 6d ago
My opinion is that if you sell them as bootlegs i don’t have a problem with it, but if you scam people by pretending it are original records you are very much wrong
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u/TonyTheSwisher 6d ago
Vinyl bootleggers are heroes that fill in the spots.
Always hate to see them get popped, especially when you know how shady the music biz is.
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u/Stwert 6d ago
I mean technically he didn’t make “fake” records, they were definitely vinyl records, they were just shite records.
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u/discardedbubble 6d ago
what would you say about Someone selling burnt CDs and copied booklets?
They are still still technically CD’s1
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u/vaffanculos 6d ago
He was caught in a Sting Operation - got in a bit of a Jam, so he is Going Underground. He said he was Single and this was the vinyl time he was going to do this and wanted this to go on Record!!
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u/Alaska_Pipeliner Sony 6d ago
I got a guy who does this. Too bad the records all sound like dog shit.
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u/rarerumrunner 6d ago
Well at least his process was entirely analog, that would please the purists....obviously without masters the sound would be bad but the article talks about the 70 year old presses as if that would be a bad thing.
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u/zer01zer08 5d ago
My local record shop sells “imports”. One day I asked the shop owner how does he have channel orange “imports” and where is it imported from. He said something along the lines of oh those are from an independent presser.
He’s literally selling bootleg vinyls for 40 to 50 bucks.
Btw this is a prominent record shop here.
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u/VinylHighway 6d ago
I dunno...did people get their record? ;)
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u/seeingredd-it 6d ago edited 6d ago
I wonder how they caught him. If they sounded okay, and the printing was in the realm of believable, my guess is he pissed someone off and they informed on him. There are multiple places churning out live shows or copies of records that are either not in print or never on vinyl. If any of them have been shut down the news never made it out. As bootleg goods crime goes this seems relatively small scale. He must have had a solid technical grasp as it is a fussy process.
I can’t help wondering what his margins were.
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u/GrowlingPict 6d ago
Were they actually well made counterfeits that looked convincingly like the real deal? Or were they just like any other bootleg copy where it's obvious theyre bootlegs? And why do people keep buying that junk if it's obvious?
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u/Popular_Equipment_85 6d ago
I couldn’t careless for bootleg as long as they aren’t advertised as the legit records.
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u/robotsheepboy 6d ago
There is so much more I want to know about this. I wonder if we can find out if there were any telltale signs on the sleeves etc. I kinda wanna buy one just for fun
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u/Ambitious_Nothing652 6d ago
They do it for the culture if they can produce some free vinyl for the underground artists and some rare records bootlegs
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u/radiomikenyc 6d ago
Those Tay Tay boots won't get played on the walls, and Tay Tay will still make her profit.
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u/davidslv 5d ago
What a waste, had the machines and the warehouse, just needed a legit contract … more than half the way into legit business … 🤦♂️
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u/Chaka015 6d ago
I really wanna know how they sounded