Audemars Piguet Just Exposed The Greatest Watch Scandal In History.
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- เผยแพร่เมื่อ 4 พ.ย. 2023
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Holy smokes did something big just ^possibly happen. AP pulled out of OnlyWatch, one of the biggest and grandest watch charity events in the world. Immediately, upon doing an ounce of research -- it's crazy to see the controversy that has been happening right in front of us that we hadn't tuned into. What are your thoughts?
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Sorry for the awkward angle everyone!
We're fixing it over the next few videos and sprucing things up a bit. I can't see the monitor from where I'm sitting so it was hard to adjust -- but, we're getting there!
I was about to comment on that... I think this angle doesn't do you justice and puts the mics at the center of the frame. Maybe a shorter, less intrusive mic arm or get the arms coming from outside the frame and you two sit closer together like before. Christian's shirt didn't help with all the stripes competing with the background. Goos stuff! Cheers!
You pronounce it "doo shanes" and it's a horrible disease
Loved the analysis. Lose the mic arms. Visually distracting. Just looks awkward having 2 pieces of metal in your face the entire time.
There is one thing that most people seem to miss: It's not even about the money that might end up in their own pockets.
If the people running the charity auction are involved in the medical company receiving the money, there is NO WAY the charity would decide to donate to another medical company if the development of their own treatment is not successful, or if another company's treatment seems more promising.
This is the conflict of interest to the detriment of medical development that really irks me.
Somehow this setup gives Christian's mustache more creep vibes
Lmao
Having a moustache just doesn't suit him at all.
He literally just one van and candies away to be on Chris Hansen show lol
It’s the stripes
It’s a Gary Ridgeway/green river killer lookalike contest…he wins.
People have to understand the concept of conflict of interest. It isnt necessarily fraud but you cannot put yourself in a position where there could be a semblance of impropriety. Yes, you need proof for fraud but being in a position of conflict of interest is obvious, especially in this case. If i were an institution that values ethical standards, I would pull out as soon as I see a COI, especially one that was clearly undisclosed.
It is not only a COI though, they just cannot declare where 100% of the funds are going. Not even implying they stole the money but working sloppy in this scale is equally bad.
The lack of an Auditor and the fact they only got one after the heat turned up speaks volumes when the subject of debate is such a huge undertaking. Couple that with the fact that they can only declare / proof 70% of the funds while claiming that 99% go to research purposes.
Last drop is the COI of the founder but in comparison to the other points this really seems minor.
@@Arseization I agree with all your points and the COI becomes relatively minor in comparison. However, the lack of COI should be the minimum bar to meet especially when pursuing a social endeavor.
So, "Only Fans" has more integrity than "Only Watch".
Only fans is pretty straightforward about everything really
Very simple, if a charity is not transparent from the get go, where the funds go, who manages it or benefits, then it is to much off a gray area. Simple. Be Transparent and let the cos decide whether they want to participate.
All of these charities that are supposed to bring "awareness" of a disease are a scam. Just like that pink ribbon organization that is supposedly bringing "awareness" of breast cancer to people. They receive millions of dollars a year, and all they do is bring "awareness". As if there were still women in the country who had never heard of breast cancer. Even if some of the money is going to cancer research, it seems like they benefit more from NOT finding a cure for cancer. Maybe there is a natural cure for cancer, but there is no benefit for anyone, especially the pharmaceutical companies, to let the public know about it. Your talking about the same medical industry that discourages people from using natural supplements, but promotes the use of drugs that have harmful side effects.
Superrich guys+ charity shows+ super luxurious products = most cutest frauds ever
F.P. Journe may well be in on it, that is why he came out so strongly (just a question not an accusation)? But WHAT is the thing that Nico Leoonard touched on about F.P. Journe, something he said at a dinner with high end customers that resulted in some saying they wanted nothing more to do with his watches, I want to know what this thing is?
If charity guy was open from the start and said look 10% is going to admin and salary and maybe a foundation and the rest is going to research that would be okay, why can't he make some money whilst doing good, but it seems they may have been greedy or too far down to be open now.
Ouuu we are going full podcast! I love it!
New podcast setup, I approve. Once you get the mic setup dialed in and processing sorted out, it’ll sound even better. Look forward to hearing the progress.
Unrequested advice here. After looking closer, it looks like you’re recording to a Zoom H4, H5, or H6. The preamps on these devices are not that clean and when you’re using mics that are gain hungry like the SM7b, that preamp noise can get quite loud (especially when you have multiple tracks of it). This is a situation where you would benefit from a few Cloudlifters or Fethead for that device, or a recorder with some higher end preamps.
The other solution would be to run spectral denoise on your tracks. Capture a few seconds of audio when no one is talking, then use those few seconds (which will just be the room tone and preamp noise) to train the spectral denoise plugin of the noise profile. Then you can lower that noise floor pretty significantly. Izotope RX has plugins like this that are very effective.
Great work on the show, thanks for sharing it with us.
Fethead or cloudlifter would work but imo the soyuz launcher would add the analog color befitting of this channel
@@Alex3713 I definitely like the more off the beaten path pick with the Soyuz. I don’t necessarily think it’d be the best with the 7b though because that preamp adds a slight bump in the bass and low mics and a slight cut above 10 kHz which I don’t think is necessary on the 7b. But as far as the vibes of the beloved hosts of T&H, you’re right. They are Soyuz boyz.
Good show, when I was a member of a major watch collectors organization, in the 1980s, at their convention held in my city every year, there would be sellers on the floor selling fakes, major dealers selling franken watches, dealers selling stolen watches. Watching TH-cam and these watch programs I see things haven’t changed.
AET looks cool!
I've been following them for a long time and was pleasantly surprised you guys mentioned it!😃
Love the set up!! Sm7b's always have a very soothing sound.
Unsolicited opinion here; I like how you guys are switching up the set. Variety is nice. I don't see the appeal of having this specific type of setup unless it's the most efficient way of creating content. I often question - whether it is a podcast, radio show, interview show, or talk show (like yours) why they all look like this and do they have to look like this? Could there be a different way of doing it? Not sure if it's required from a functional perspective and if it's the most efficient way of creating content.
To me, the microphones and their boom arms are in the way. Even if they weren't obscuring your face, they're distracting and uneasy to see. I'd imagine it has to be so close to your face for the best quality. But your brand is also your face in this case. On an audio podcast or radio show, you wouldn't see any of this. I never knew what stern looked like for the majority of my life, and don't really care even now knowing what he looks like. Part of this channel's appeal is the two of you, your passion and intrigue for watches and the ornate, your relationship with one another and you're personalities. Not necessarily the watch content. This looks like a hotel lobby. Your old set was maybe dated and too rustic. idk, gone with the times, but I feel like you guys are funky wallpaper, an organized mess, Persian rugs, pictures from Christians itay trips, wine, and rolly from time to time.
It’s the stach…pre-stach no one thought you did the nose candy then. Pre-stach Club
give credit where credit is due to Perezcope
Love the innovative AET modifications but hadn't heard of them before, and for once, these customizations are, as you guys said, fun, without being cheesy - we need more of this in the watch world
Get the mic stands out of the middle of the shot. Move them off camera with just enough in view to work. Major distraction.
Way ahead of you!
❤ well said
Like the new set up. Interested to see how it develops. Perhaps move closer together and get a tighter shot of your faces as they are a little further away than before to read the expressions.
Christian, where in the world do you get your fits my man? 🙏🏼⁉️
To support and contribute to solving a medical issue, one can consider awarding scholarships to doctoral candidates specializing in this disease, whether it pertains to treatment or research. This approach is not only cost-effective but also offers a long-term solution, ensuring that the funds are used for meaningful progress rather than being diverted to stockholders or the wealthy.
The central problem is that the ‘charity’ is not set up in a country with strict charity laws where compliance with aims, purpose, funding, budgets, expenditure and other governance, as well as the appointment of trustees, is set out BEFORE charitable status is even conferred, and where annual auditing and reporting must be undertaken. That may not in itself prevent fraud altogether, but should hopefully pick it up, and importantly provides transparency, rather than the opaqueness of Monegasque operations.
Then again some would argue that the whole luxury goods space is ‘fraudulent’, but that’s a whole other topic.
Yeah this is pretty common tbh, donating money is a huge tax loop hole to just reroute capital for “research” (via a charity) because (1) its tax efficient and (2) if these companies have a marketable product odds are the share price will increase on the news and the owners will heavily benefit
New studio? Who dis?
Love the new sound setup.
In corporate , it’s not okay, there is a clear conflict of interest and if this is not managed, it leads to you know what . Hence this company /business should be avoided at all cost . If the allegation is true, everyone who watches only watch could be a contributor to predicate crimes committed
Not a fan of the new setup so far, i preferred the more intimate camera closeup with no visible mic… lets see when its done.
I want an AP even more now.
Love the purple orange stripe shirt. The material seems really nice. If this is a distraught look I'm all for it.
Hey guys, it's time for some Christmas vibes in studio, sweaters, lights and hot drinks.
So you guys have an issue with restored watch from non original parts(parts you can’t get anymore), 17:32 but not with the AET watches, which clearly are breaking so many copyright laws. It is surprising, that Rolex has not done a thing about it. I mean, I like them too and thing it is cool and very individual
2:36 loved that nonchalance
Hey are the watches sold on T&H professionally serviced? Thanks
This actually looks an older broadcast.
Love the new setup!
I actually like the more casual feel of the old setup...
Brilliant 👍
you lost me at monaco. that whole setup of the entire country is crooked.
Exactly. It's a tax haven for the ultra wealthy.
Almost as bad as Delaware
watch industry has been a fraud for long time. we are paying a lot of money for tiny accurate mechanical pieces made of metals, plastic and leather. anything over $5000 for a watch is already a outrageous and brand name is what sets the price.
regarding the Organiser of only watch also owning a stake in 2 research facilities that claim funding from the charity;
I think it is okay, if you have 2 facilities and you decide you need funding to carry out a good deed and Only Watch was a solution, it seems okay. However, from principles of internal control those who can benefit from cash/money are separated from having access to the money and any control over the money and if this is the case, it is not fraudulent.
AP pulling out of "Only Watch" is similar to the situation when Swatch Group was pulling out of "Basel World"...the end of the show could be near!
Who supported them in writing that statement? That is almost admission of guilt. Was that written by a lawyer?
They had some really questionable releases even on their Website.
One of their three pillars of investment is helping patients directly (with buying a stairlift or modifying cars / buying ramps etc.) and whilst displaying the immense sum of money they collected in total with OW they where proud to release that 42.000€ (yeah thousand) of those Millions where used to help patients directly. You can maybe build one stairlift with that sum. Maybe.
It's a Conflict of Interest. Very simple, actually.
08:50 no its sus
Massively wrong. Essentially, this company is receiving non-dilutive funding in the form or grants or donations to pay for R&D. That non-dilutive funding is assumed to be increasing the value his equity stake. So it’s self-dealing. If the plan were to make the output of that R&D completely free, then there is a plausible ethical salve. But if they plan to take the outcome of that R&D to market and commercialize it, then there is conflict of interest. And since the guy running Only Watch is an investor who has taken an equity ownership position, I don’t think he’s invested his own or his LPs capital into a charity.
All said, it stinks and depending on the jurisdiction could be considered worthy of fraud investigation.
Nailed it. Any wondering or guessing whether financial malintent ignores the simple, obvious facts. Massive self-dealing. I've worked in biotech 30+ years and if onlywatches was a pubco the SEC investigators would be all over this. Michael and Christian are clueless on this one. Should've just stuck with their clickbait headline. Bravo AP.
🔥Wow, the truth about this watch scandal is mind-blowing!⌚
DMT,clueless buddies,is responsible for humans being able to dream during sleep.
Not a 'drug' at all.
The lack of transparency is a huge red flag. The statement released only furthered any concerns. On the net positive point - I don’t agree at all. Profiting off the memory of your deceased child whilst purporting to have purely altruistic motives is ethically reprehensible. Any portion of donations held back by the charity to meet operating costs and pay competitive salaries to staff is - if stated clearly in annual report and accounts - perfectly reasonable. There are numerous ways to benchmark these costs. Anything beyond that is in my view profiteering, and unethical. It does not honour the memory of the deceased. The end does not justify the means.
Thats a fun shirt.
Penguin Random House pulling out of the Frankfurt Book Fair? No, that would be analogous to a Rolex no show. Perhaps Simon & Schuster.
Btw, love the care with which you've circled the cables around the mic stands, crossed them over and faced their white writing towards the viewer.
This is not a Watch scandal. This is a charity scandal. The greatest Watch scandal in history is HUBLOT.
Hublot is worth every nickel if they charged a nickel
If u opt for 3126 ROO enhancement, AP wil reduce 59jewel to 54jewel, the watch gets lighter, the min hand jam everytime u adjust the time.... yuks! A watch not for nex GEN!
AP pulling out of Only Watch is like MercedesBenz saying we’re don’t with the Geneva (and any other) car shows
Hi Guys- please get rid of the Microphones in view - it really kills the relaxed and casual vibes your Videos had before... Independent of that: great content as usual!
This watch auction is actually hold every two years (not one). Good work guys, wrong statement (and repeated) in the first minute. I pass
This is like seeing Brazil pull out of the World Cup
6:18 almost should say the principality of Zeon...
My Halloween watch is a speed master Apollo 8
For comparison, it is totally unethical for American physicians to refer their patients to labs or other clinical facilities in which they have ANY financial interest. I think the money raised by Luc and One Watch is a positive but it’s also tainted. He should have disclosed from the start, that he had a financial interest in the outcome. Scientific journals, especially in the life/medical sciences, will typically state whether any of a paper’s authors had any financial interests in the treatments being reviewed.
That fact that the relationship was not publicly disclosed from day one is not an accidental oversight. All you had to do was disclose to show you are above board. End of the day this is shady as fuck and AP did the right thing!
Awe, I liked the old videos, "in the living room". Warmer
AP pulling out is like Ferrari pulling out of F1
Is it ok? 8:43 The answer is that it's self-serving and a conflict of interest. It's not ok in the corporate world and should be even less ok in the charity world. One of the most recent examples of this in the corporate world was WeWork's founder Adam Neumann renting buildings he owned back to his company, WeWork, so that he personally profited from his company's investment decisions. He was forced out of the company as a result and WeWork recently declared bankruptcy.
The issue is the apparent failure to disclose self-dealing. The appearance was that this charity auction raised money that was then donated to unrelated entities and that those entities were chosen based on objective criteria related to the value of the research being conducted. Instead, it appears that instead of raising capital through conventional means to fund his own businesses, he used a charity to fund businesses in which he had a significant financial interest. His failure to disclose his own financial interests in the use of the charitable proceeds is dishonest. Contrast that to the disclosures of the American Red Cross or St. Jude where the compensation of the people running the charitable business is publicly disclosed in their charitable tax returns, IRS Form 990.
The issue of executive compensation is an issue that every charity faces. The question is does this compensation reflect what other charities are paying of equal size and stature? in the United States and I can’t speak for Monaco compensation is disclosed in a form 990 which is a document. Anyone can access and read. You can also look at sites like charity navigator, Which rates each of these organizations. The rating system is a bit controversial, but it’s not a bad place to start your research.
The ownership issue is only an issue if the executive failed to disclose to the donor companies that this conflict existed.
It appears on the surface that three things have happened here. Firstly, this organization should’ve disclosed all of this to donors upfront. Secondarily these Watch companies should’ve done more diligence on the companies they were donating to they had an issue with it, they should’ve managed that issue internally with a charity as the true people who get punished are the children who have this affliction.
Ma man is slowly turning into a 70s version of Dirk Digglor.....stash and all😂
I don't get it. Is it pure gossip? Or is there any expert opinion?
Please ! AP ADs are the biggest scam dealers out of any of the ADs. Bought 6 watches off them and I’m done. Paying the salesman and manager 5 grand each. It’s a joke of a company.
just when you think we're done with watch drama for the year and in comes Christies
Love your vids.
Hate the setup
Love the discussion and all points raised were valid! But, Do you guys really need those massive mic holders? 😅Like why not just put them into a stand? Are you going to stand up or walk around while talking?
In one of Nico’s recent videos he mentioned that FPJ recently said some horrible stuff (about his own bad behavior) at a dinner with collectors… and it turned Nico off to the brand… anyone know what he said?
He said nico is obnoxious.
Nico , in my opinion, has gone from being a loud goof watch expert to being a loud jerk watch expert who thinks that if he laughs loud enough it will distract from some of the things he has said. I don't watch his stuff anymore.
It's a bit known in the industry that fp is a bit sexist and rumor may be that he said some horrible things about some African immigrants.
Nico is a loudmouth, but no one thrives on TH-cam, without a little brashness or self promotion? BUT his opinions are very accurate, and he says things that need to be said. His 2023 ranking video made some very interesting points. FPJ as a brand is kind of struggling. And Nico's point about brands being relevant to the younger consumer is so important.
I want to know it as well. What happened during that dinner. We know FPJ has showcased some dickish behavior before but that must have been next level…..
Unrelated but what are the allegations against F.P.Journe? I heard something about them doing something at a restaurant?
Ngl i liked the previous setup more
Nah the nose itching is from the pain killers.
Let’s see what the audit’s conclusions are. I sincerely hope it’s not the case, for the kids of course, but also for the watch world, who just cannot handle another scandal….
Watches and cooking are my two passions as well - haven’t figured out how to make money out of either 😂
You guys sure are doing a lot of mental gymnastics to justify this conflict of interest
Michael - please try taking an antihistamine 30 minutes before starting the recording.
This is a really s***** situation. If true. Of course these charity foundations make money off of the auctions. But, my biggest problem here is the blatant double dipping. Funneling the funds to a company you own near majority of and are there for benefiting secondarily from is a problem. There are clear rules against this in medicine, government, even other areas of commerce.
Christian has morphed into a character from Yellow Submarine
Hot take: I liked the previous setup a lot more. Now it just feels like I'm watching a Joe Rogen podcast.
If I were to write a headline for this, "The old setup just felt more honest".
We get a lot of 'vague' comments in advertising all the time, so I'm gonna try and be as specific as I can - as a viewer.
Your last setup made it feel like we were all in the same room as you guys were. Now, we're all watching you guys in this 'box'.
That said, the sound also makes it too 'podcast-like', and that adds to that detached feeling. It's too forward, if that makes any sense. But also, the mic mounts does separate you two a bit, adding up that a Joe Rogen thing.
I'll be the first to admit that I wasn't that much of a fan of this channel at first, but after Michael came in, I converted. You two balance each other very well. But this setup, in my humble opinion at least, divides your energies in an indelible way that's hard to describe.
It's the same style of content, but delivered in this new way now. And I'd question, does it make it more connected, respectfully.
I say with no malice, and all love for this channel.
Follow the money.
Analysis by paralysis; it’s called a conflict of interest. There you go.
is Anna part of the new setup? Bring her back!
AP did the right thing. This endeavor stinks of insider profiteering….
I wonder if AP is slightly concerned that everyone will be audited or looked into forensically that is part of this web of lies!
Put the shares in a blind trust, problem solved. But if he's already sold shares and profited from them then boo.
GUYS…I spent a few hours in a Party Bus on the way to Lambeau Field in Green Bay today..;
BROS:
(a new friend across the bus) was rocking a HUGE AP Royal Oak Offshore…)
He let me try it on…can I ask its worth without sounding like a chav..?!?
It was too big for my wrist… but F!!
In the Presence Of Greatness…
It feels like the father..founder of the foundation is sincere in his desire to do good...but is simultaneously taking control of the funds to enrich himself in the process..self dealing..not a good look. Unfortunately,a lot of heads of charities set themselves up to be big executives and pay themselves CEO compensation.
Between the stache and the stripped shirt I could barely put attention to the content. But yeah, good stuff.
Old set-up is so much better, it was warm but not dominating. This one is bland and the microphones are intrusive
Pretty sure it’s 70% because that’s what was raised in the last 5 years. The rest was raised earlier. That still leaves the question of why only 5 years…
F.P. Journe is pissing all over his own legacy
only watch raises funds for a great cause. we should raise whatever it takes in order to get Christian to shave his mustache.
❤
I'll help you. No. It's not okay.
I would say, whatever money that guy earned, if he did really donate to all of the research labs and companies involved into Developement of the cure of the disease - absolutely no problem. He’s rich and doing good things for the world. In the end cudos for making all the biggest names in the industry come to you and commission there unique watches! That deserves a note of remembrance
But! If he really did send all donations to his own company AND did get a commission at the auction AND is not disclosing 20% of the funds AND is not willing to audit years before the accusations - that’s the most stupid fraud and probably somebody else is standing behind the curtain.
Checking Christian’s sartorial choices in the recent episodes, I wonder if he is colour blind or making some chromatographic experiments to test his video kit…
Only Watch came to do good and ended up doing very well indeed. Complete scamsters. Huge conflict of interest.
Hmm. Sounds familiar. Like big pharma.
The company you hold stock in = you are biased towards supporting them. What if another treatment is better. Ethically it may dissuade you from direct charitable dollars most appropriately. I would not support a charity structured in that manner. What do others think?