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Discussion Starter · #1 ·
Did I hear this correctly, that he is tweeting for billionaires to help out.
Maybe Taylor S. will bail him?

What a tard!
 

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He just wants attention, and for some reason he won't go get a puppy.
 

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Adorable Furry Hombre
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Did I hear this correctly, that he is tweeting for billionaires to help out.
Maybe Taylor S. will bail him?

What a tard!
I dunno about being a "tard". It is pretty par for the course for AAA "talent" in performance fields.

75% of NBA and NFL players end up bankrupt inside of 2 years of being drafted. Heck W.A. Mozart died and was buried in a pauper's grave because he was penniless, as he was a brilliant musician who lacked financial sense.


Why do you think you see The Fonz hawking "Reverse Mortgages" for banks these days on TV? Or whatses face from Law and Order hawking retirement funds? Or Oprah hawking Weight Watchers?
 

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Discussion Starter · #4 ·
I dunno about being a "tard". It is pretty par for the course for AAA "talent" in performance fields.

75% of NBA and NFL players end up bankrupt inside of 2 years of being drafted. Heck W.A. Mozart died and was buried in a pauper's grave because he was penniless, as he was a brilliant musician who lacked financial sense.


Why do you think you see The Fonz hawking "Reverse Mortgages" for banks these days on TV? Or whatses face from Law and Order hawking retirement funds? Or Oprah hawking Weight Watchers?
It's not that he's broke, but tweeting for billionaires to pay his debt = total tard.

In another thread, a guy said he got a response to his CL ad ($350 bike) from a college student who said he could only afford $20/mo, and everybody replied that the 'college student' was a scammer and should be ashamed for not finding an honest solution to his problem.

Same rules should apply to all. Shame on Kanye = maybe he should get a job.
 

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Kanye can earn that money doing...favors.

I hear he likes fish sticks.
 

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It's not that he's broke, but tweeting for billionaires to pay his debt = total tard.

In another thread, a guy said he got a response to his CL ad ($350 bike) from a college student who said he could only afford $20/mo, and everybody replied that the 'college student' was a scammer and should be ashamed for not finding an honest solution to his problem.

Same rules should apply to all. Shame on Kanye = maybe he should get a job.
These days finding a job that pays a normal person's bills is a challenge, even if you have a 4-year specialist degree in a sought-after field. Most people who are in performing arts, well are pigeon holed into that one thing they do brilliantly, and are screwed when they can no longer do it due to age/injury/etc.

You see the hero worship that goes on for boys for NFL players...when most of them are bankrupt IRL, and IRL most are only able to do NFL for 10 years and then their body is done...the lucky ones get commentating jobs....the rest are cast off like dead wood. Professional dancers are the same, after 30 most are done as their bodies won't do it no more-some might stretch to their 40s....but for music making, sports, and so on the training to reach the million-dollar salaries starts as children and lasts the rest of their life. Not much time to learn anything else. And TBH, short of winning either the literal lottery or the proverbial lottery (being a professional performer)-a lifetime of hard work will never get you a whole lot of $$$ and you'll be lucky to even see a raise by being a loyal employee for 40 years.
 

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I dunno about being a "tard". It is pretty par for the course for AAA "talent" in performance fields.

75% of NBA and NFL players end up bankrupt inside of 2 years of being drafted. Heck W.A. Mozart died and was buried in a pauper's grave because he was penniless, as he was a brilliant musician who lacked financial sense.


Why do you think you see The Fonz hawking "Reverse Mortgages" for banks these days on TV? Or whatses face from Law and Order hawking retirement funds? Or Oprah hawking Weight Watchers?
Marc, you muddled all kinds of stuff into that response, some of it misleading and some of it flatly wrong. Those numbers on athlete bankruptcies, or something like them, came from a magazine article several years ago, they were talking about after retirement, not after being drafted, and they were unsubstantiated and almost certainly just wrong. A study last year of NFL players found that a sizable number go bankrupt after retirement, but nowhere near that number -- more like 16% -- and nowhere near that quickly -- within 12 years after retirement.

Citing Oprah Winfrey as an example of someone who's forced to hawk stuff because she mismanaged her money is a joke, and shows how far off base your argument is. If Oprah chooses to act as spokesperson for a product, she does either to make even more money, or because she believes in the product, or both. It's certainly not because she's destitute because of financial mismanagement. According to most accounts her net worth is somewhere well above half a billion dollars.

Certainly there are examples of athletes and entertainers who got a lot of bucks fast, managed it badly and went broke. But there are plenty of counter-examples, especially among "AAA talent." Paul McCartney is a billionaire, Bruce Springsteen is worth over 300 million, and among rappers, Diddy, Dr. Dre, and Jay Z are all over the half-billion level.

So if Kanye is really broke (who knows?), you can say it's not unprecedented, but "pretty par for the course" is way over-stating it.
 

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Discussion Starter · #9 ·
Oprah is part owner of Weight Watchers. She's just promoting her investment.
 

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Do you think Kanye knows what 35/2 is?

I work in the industry in an accounting capacity and have seen a lot. And by a lot, I mean shared speedboat ownership turned south, credit cards given to the entire entourage, doomed investments for the "street fam" and $250K summer vacations. There is definitely a core group top shelf of advisers who usher these folks ab initio throughout their careers. Oftentimes their relationships flourish beyond transnational work and well intentioned advice is heeded, while some other clients simply cannot be helped (see: Scott Storch).

One situation which tends to repeat itself and sets the client on a downward trajectory regardless of their newfound wealth is family members taking advisory positions (i.e. business managers).
 

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Those same folks say Kanye's net worth is $145million USD.

Kanye West Net Worth | Celebrity Net Worth

I do like their disclaimer:

"All net worths are calculated by applying a proprietary algorithm. The results are then fact checked and confirmed by a team of editors. We scan all publicly available data and resources and work diligently to ensure that our numbers are the most accurate and up to date net worth data you will find anywhere on the internet."

Which either means their editors and fancy proprietary algorithms are pretty bloody wrong...or very out of date (you don't find yourself in $50m of debt over night)...or both, although I suppose maybe KW was lying to reporters to get attention is also possible. Granted I'm a normal person and not a bankruptcy lawyer, but in my pea brain having a net worth of $150million USD and being $50m in debt are two mutually exclusive states of being.
 

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Marc, you muddled all kinds of stuff into that response, some of it misleading and some of it flatly wrong. Those numbers on athlete bankruptcies, or something like them, came from a magazine article several years ago, they were talking about after retirement, not after being drafted, and they were unsubstantiated and almost certainly just wrong. A study last year of NFL players found that a sizable number go bankrupt after retirement, but nowhere near that number -- more like 16% -- and nowhere near that quickly -- within 12 years after retirement.

Citing Oprah Winfrey as an example of someone who's forced to hawk stuff because she mismanaged her money is a joke, and shows how far off base your argument is. If Oprah chooses to act as spokesperson for a product, she does either to make even more money, or because she believes in the product, or both. It's certainly not because she's destitute because of financial mismanagement. According to most accounts her net worth is somewhere well above half a billion dollars.

Certainly there are examples of athletes and entertainers who got a lot of bucks fast, managed it badly and went broke. But there are plenty of counter-examples, especially among "AAA talent." Paul McCartney is a billionaire, Bruce Springsteen is worth over 300 million, and among rappers, Diddy, Dr. Dre, and Jay Z are all over the half-billion level.

So if Kanye is really broke (who knows?), you can say it's not unprecedented, but "pretty par for the course" is way over-stating it.
Actually that pro athlete magazine article had a bit of a rebuttal posted on 538 about that paper you cite:

There’s A Difference Between Broke And Bankrupt For Ex-NFL Players | FiveThirtyEight

In fairness, I was careless in my own verbage.
 

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Granted I'm a normal person and not a bankruptcy lawyer, but in my pea brain having a net worth of $150million USD and being $50m in debt are two mutually exclusive states of being.
Again, that's why net vs gross matters. You can have $150m of net worth and $50m of debt. That just means you have $200m assets and $50m debt.
 

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Actually that pro athlete magazine article had a bit of a rebuttal posted on 538 about that paper you cite:

There’s A Difference Between Broke And Bankrupt For Ex-NFL Players | FiveThirtyEight

In fairness, I was careless in my own verbage.
Thank you for that link. Very interesting. Obviously the truth -- and the availability of data -- are somewhat complicated, at least with respect to pro athletes. The original article's statement about athletes who are "bankrupt or are under financial stress because of joblessness or divorce" is obviously both a broader and a fuzzier category than simply bankruptcy, but it does make the valid point that young athletes who get a lot of money fast are susceptible to this track.

I suspect it's somewhat less common with entertainers, not least because most of them suffer some years of struggling before they make it big. The ones who are overnight teen sensations may see this happen more commonly.

But Kanye, I don't know what the hell he's about . . .
 

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What a piece of worthless self centered piece of trash.

Total career welfare mentality. No accountability, and expectations that someone else is responsible and should be expected to save your azzz
 

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Wasn't this the jactard that ran on stage when Taylor S won something a few years ago? Now he's self proclaimed the best artist of all times? Let me see, I don't think Taylor S is $53M in debt and probably selling more records.

hey vaccuum brain... how about selling some more songs and paying off your own debts...
 
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