Comments

  • Hayden was quick to buy items that could go out-of-stock during the pandemic and resell them to willing customers for steep prices.


    How is this legal?  He's certainly not helping anybody but himself.
  • How is he selling items for double their cost but only making a 6.5% profit?  Either he's shipping everything under armed guard or he's sitting on tons of stock he can't move.
  • Ivo Shandor: SoundOfOneHandWanking: How is this legal?

    Capitalism.


    1) Buy 10% of the water
    2) Poison the other 90
    3) Profit
  • That is so much capital at risk for so little profit. He could have bought some rental houses and be rolling in the dough right now.

    That's like grocery store margins.
  • SoundOfOneHandWanking: Hayden was quick to buy items that could go out-of-stock during the pandemic and resell them to willing customers for steep prices.


    How is this legal?  He's certainly not helping anybody but himself.


    It isnt. Price gouging during emergencies is illegal in every state.
  • cman: SoundOfOneHandWanking: Hayden was quick to buy items that could go out-of-stock during the pandemic and resell them to willing customers for steep prices.


    How is this legal?  He's certainly not helping anybody but himself.

    It isnt. Price gouging during emergencies is illegal in every state.


    I found the relevant statute.

    2019 New Jersey Revised Statutes
    Title 56 - Trade Names, Trade-Marks and Unfair Trade Practices
    Section 56:8-107 - Findings, declarations relative to excessive price increases at certain times.
    Universal Citation:NJ Rev Stat § 56:8-107 (2019)
    56:8-107 Findings, declarations relative to excessive price increases at certain times.
    1. The Legislature finds and declares that during emergencies and major disasters, including, but not limited to, earthquakes, fires, floods or civil disturbances, some merchants have taken unfair advantage of consumers by greatly increasing prices for certain merchandise. While the pricing of merchandise is generally best left to the marketplace under ordinary conditions, when a declared state of emergency results in abnormal disruptions of the market, the public interest requires that excessive and unjustified price increases in the sale of certain merchandise be prohibited. It is the intention of the Legislature to prohibit excessive and unjustified price increases in the sale of certain merchandise during declared states of emergency in New Jersey.


    It says 'certain merchandise'. It doesn't define specifics. I would guess that that refers to essentials such as food, water, medicine, medical and emergency supplies. According to the article he was selling video games, outdoor heaters, above-ground swimming pools, dumbbells and nail clippers. It could be that those items are exempt as they're nonessential. Maybe nail clippers are essential. I'd be pretty uncomfortable after a while if I didn't own one.
  • Headline, as usual, is misleading. He made $110k ON TOP of the 1.7mil.
  • So, the Young Republicans Club?
  • SoundOfOneHandWanking: Hayden was quick to buy items that could go out-of-stock during the pandemic and resell them to willing customers for steep prices.


    How is this legal?  He's certainly not helping anybody but himself.


    How could it not be legal? He bought them legitimately then, once he owned them, resold them to willing buyers who were okay with paying more. We do that with houses all the time.
  • jjorsett: SoundOfOneHandWanking: Hayden was quick to buy items that could go out-of-stock during the pandemic and resell them to willing customers for steep prices.


    How is this legal?  He's certainly not helping anybody but himself.

    How could it not be legal? He bought them legitimately then, once he owned them, resold them to willing buyers who were okay with paying more. We do that with houses all the time.


    It's the same thing as people who buy up limited collectibles and then immediately turn around and resell them on eBay for inflated markups. You don't need a pandemic to be a selfish douche, just an ability to predict demand and a willingness to be a selfish douche.
  • Kitty2.0: Headline, as usual, is misleading. He made $110k ON TOP of the 1.7mil.


    ...well yeah...that's how profit works.
  • dyhchong: Kitty2.0: Headline, as usual, is misleading. He made $110k ON TOP of the 1.7mil.

    ...well yeah...that's how profit works.


    Everyone in this thread thinks he only made $110k and took a bath on the 1.7 million.
  • SoundOfOneHandWanking: Hayden was quick to buy items that could go out-of-stock during the pandemic and resell them to willing customers for steep prices.


    How is this legal?  He's certainly not helping anybody but himself.


    Lol

    Wait no wait you're serious?

    LOLOLOLOLOL

    do you even America bro?
  • Next up, a conservative podcast.
  • Gordon Bennett: cman: SoundOfOneHandWanking: Hayden was quick to buy items that could go out-of-stock during the pandemic and resell them to willing customers for steep prices.


    How is this legal?  He's certainly not helping anybody but himself.

    It isnt. Price gouging during emergencies is illegal in every state.

    I found the relevant statute.

    2019 New Jersey Revised Statutes
    Title 56 - Trade Names, Trade-Marks and Unfair Trade Practices
    Section 56:8-107 - Findings, declarations relative to excessive price increases at certain times.
    Universal Citation:NJ Rev Stat § 56:8-107 (2019)
    56:8-107 Findings, declarations relative to excessive price increases at certain times.
    1. The Legislature finds and declares that during emergencies and major disasters, including, but not limited to, earthquakes, fires, floods or civil disturbances, some merchants have taken unfair advantage of consumers by greatly increasing prices for certain merchandise. While the pricing of merchandise is generally best left to the marketplace under ordinary conditions, when a declared state of emergency results in abnormal disruptions of the market, the public interest requires that excessive and unjustified price increases in the sale of certain merchandise be prohibited. It is the intention of the Legislature to prohibit excessive and unjustified price increases in the sale of certain merchandise during declared states of emergency in New Jersey.

    It says 'certain merchandise'. It doesn't define specifics. I would guess that that refers to essentials such as food, water, medicine, medical and emergency supplies. According to the article he was selling video games, outdoor heaters, above-ground swimming pools, dumbbells and nail clippers. It could be that those items are exempt as they're nonessential. Maybe nail clippers are essential. I'd be pretty uncomfortable after a while if I didn't own one.


    Bingo, non essential items do not count

    Bread, milk, medicines, gas etc are covered

    Everything else is what the market shall bear.

    America!
  • Kitty2.0: dyhchong: Kitty2.0: Headline, as usual, is misleading. He made $110k ON TOP of the 1.7mil.

    ...well yeah...that's how profit works.

    Everyone in this thread thinks he only made $110k and took a bath on the 1.7 million.


    Literally nobody in the thread said that.
  • omnimancer28: Kitty2.0: dyhchong: Kitty2.0: Headline, as usual, is misleading. He made $110k ON TOP of the 1.7mil.

    ...well yeah...that's how profit works.

    Everyone in this thread thinks he only made $110k and took a bath on the 1.7 million.

    Literally nobody in the thread said that.


    *waves hand* Maybe not the way you read it, but there is one comment lamenting a 6% profit on a million freaking dollars worth of stuff.

    /could.still.be.drunk.don't.care.
  • NikolaiFarkoff: He could have bought some rental houses



    Not if he started with $500.
  • Stile4aly: How is he selling items for double their cost but only making a 6.5% profit?  Either he's shipping everything under armed guard or he's sitting on tons of stock he can't move.


    Those numbers point to heavy risk in an unstable business model.
  • nytmare: Stile4aly: How is he selling items for double their cost but only making a 6.5% profit?  Either he's shipping everything under armed guard or he's sitting on tons of stock he can't move.

    Those numbers point to heavy risk in an unstable business model.


    He's flipping PS5s and hot tubs at 100% mark up.

    Sound sustainable to you?
  • Kitty2.0: omnimancer28: Kitty2.0: dyhchong: Kitty2.0: Headline, as usual, is misleading. He made $110k ON TOP of the 1.7mil.

    ...well yeah...that's how profit works.

    Everyone in this thread thinks he only made $110k and took a bath on the 1.7 million.

    Literally nobody in the thread said that.

    *waves hand* Maybe not the way you read it, but there is one comment lamenting a 6% profit on a million freaking dollars worth of stuff.

    /could.still.be.drunk.don't.care.


    That's not how any of this works. He made 110k profit on top of 1.7 million on purchases. Including paying two employees 15 an hour. That doesn't mean 1.7 million was his working capital. It was total outgoing cash flow over a year spent on acquiring goods for resale. He could have started with a few grand selling hair clippers and was good at growing his business.
  • Kitty2.0: *waves hand* Maybe not the way you read it, but there is one comment lamenting a 6% profit on a million freaking dollars worth of stuff.


    And that's correct, too.

    He had 1.7 million in revenue.  He made 0.11 million in profit, meaning he had 1.59 million in expenses, since profit is revenue minus costs/expenses.

    0.11 / 1.7 is about 6.5% profit.
  • I'm guessing his old man gave him seed capital.
  • OK subby let me explain.

    Buy something for $100 sell it for $200 - Now you have $200.
    Now you buy something for $200 and sell it for $400. Now you have $40 to buy something worth $400.

    Now you have bought a total of $700 worth of goods for an initial investment of $100.

    I guess subby never played Lemonade Stand.
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