Most companies, unfortunately, do the exact same thing. Rarely has a company actually shut down on good terms with its customers and employees, normally it squeezes every last penny out of the "bankruptcy laws".
@@Noah-lj2sg bankruptcy laws require the assets to be frozen and sold, and determines the order in which creditors get paid. There is no “squeezing” lol that’s just the way it is. Obviously not a fan of Artesian but this is a curator selling off inventory, the original owners have no control over this.
The icing on the cake of how terrible the company is, if you look at the original listing, among the assets they are selling, is privacy data of 10,000 people (Names, billing addresses and emails). After they were caught, they removed this from the listing.
the reson you get adds anywhere on the internet is becouse EVERY company is selling your data, its like stock brockers buying and selling only its "user information". everything you do on the internet will be collected, the resolution of the browser that is open to what you click on and even the mouse movement. everything is collected and sold, its called information farming.
One of my friends got a PC that he paid for built on stream, including a couple small upgrades from donations, DURING the giveaway disaster stream (either that or the day before). It was shipped out during the frantic "ship as much as we can before corporate freezes our assets and stops us" phase. He got one of the last ones.
Yeah I bought a PC from them in January, barely got my refund on it too, think it was late March. Had to dispute it with the credit card, and Artesian came back saying that I had recieved the PC weeks prior. Save your emails, that's how I proved they were lying their asses off.
@@Garrett1974 they were paying their workers through paypal and later claming fraud and having paypal withdraw the funds from the employees accounts, people should sue them
holy... I just feel bad for the creators, yes they were stupid for accepting a contract in where not only you don't get paid but you have to pay just for a "free pc" but still... damn man
That IP might be worth it depending on how the tertiary case goes, but I'm fairly sure the 20k is worthless. It's a charity company, and if I've learned anything, with few exceptions, charities might be the most corrupt and unscrupulous companies you can ever work with.
Since they failed to send out these PCs and clearly had the ability to, they should be able to be sued. All of the people who subbed would have to be a part of the lawsuit most likely.
They cant sue. They can waste their money on getting a lawyer to do the paper work but it would be pointless since the judge would tell that lawyer to pound sand. In fact any lawyer that would offer to do it would be a shit lawyer taking advantage of the victims and could actually be reprimanded by the courts for filing bs paperwork to the court. Its an LLC which protects the owners. And then they filed for and were granted bankruptcy. So theres quite literally nothing these victims can do at this point. Use it as a life lesson. Read contracts and actually think about what your doing with who. A lot of this stuff should of been red flags for any logical person. but its understandable for content creators to be a little excited and not think about it logically. You live and you learn.
@@ronnie3044 Kinda sickening how they were able to basically defraud all these people and be completely shielded form liability due to the way corporate law works.
@@mkuhnactual True. But thats something people need to think about when they start working with companies. Its a life lesson. At least in this case nobody is out too much. You kinda have to shield people otherwise nobody would start a business. Most businesses fail in the first 5 years. LLCs and Bankruptcy court atleast allows you to try and start something without losing literally EVERYTHING. Without them there would be a lot of families on the streets because their business failed.
@@UnknownUserZeroZero What about them? They are just out of luck. Thats how it works. Is it fair/right? No. But thats life. Thats why I said its a learning experience. You have to be careful with who you spend money with. And to look on the bright side, at least this was a relatively low amount of money (1k-3k i would imagine). Ive seen people lose 75k+ to a company that went bankrupt.
Im curious what will happen to person pcs in for repairs. Those have already been sold, then returned, that would actually be a customers property because the sale was fully completed.
Imagine if some bright minded millionaire gamer content creator won a lot and followed up on the commitments no strings attached, that'd be pretty sweet.
Got a PC from them, works great technically but they butchered the 500 dollar vinyl wrap because they “tried to outsource it” and it was both damaged and extremely low quality. I was only willing to drop such a stupid amount of money on vanity features once in a lifetime so, rip. It was my current profile pic too, would’ve looked amazing but you can barely see it. They said they were going to send me new panels but never didz
Wow. Hope those creators were able to do some chargebacks. Imagine all that subbing and spending, not getting your custom pc, and then seeing it online with a lot number on it for auction when it should be going to you. Wow.
legally artesian cant send them out and the police are always going to be more worried about money you owe to banks than what you owe your customers at this point since theres no reputation to ruin as a company so not sending people their shit and selling it in a liquidation sale was pretty obvious especially with how spectacular its downfall was and still is,
None of what you said puts any responsibility whatsoever on the lot buyers - the inventory goes to the buyer free of any claims, while the seller has to pay the proceeds of the auction do their debtors (anyone they have an unfinished contract with).
IF there is a time for someone like Linus or another Tech Tuber to step in, Its now. Get these lots, get the PCs to there rightful owners. and the rest can be sold for parts.
I think LMG has most of their capital tied up atm, lmao. But I get what you mean, there is a wrong to be righted here, and someone capable of stepping in would win big by doing so.
They are not selling private information, they are selling the business of the company, which includes their operations information. A service company is not worth much if you don't get their customers as well, it would just be a name and that is not worth anything. What they are doing is normal for a company being sold.
i don't think they are legally allowed to sell any of the pc's that they offered in the agreements with the content creators especially if those content creators paid money for them cuz its not their property to sell its pretty much if you lived in the same house as someone who files for bankruptcy then tries to sell off your possessions in order to help pay off the debt without your permission might i add its not their property to sell and its not legal
Honestly I would like to see LTT buy these lots, and giving out these PCs to the people who were promised a new gaming PC who never got theirs, it may seem unlikely, but if there's anyone I could trust on delivering, it would have to be LTT since they have a solid standing reputation with their community and within the tech industry as a whole.
Yeah, between the development of their screwdriver, backpack, and the property acquisition they just made, they probably don't have the capital to pick up these lots right now.
If PhynixPC (well played on the name) wanted to immediately propel themselves onto the scene, THEY would honor those streamers builds and orders, even if it was at a loss to them. They can use the torpedoing of their old company due to that jerk off CEO to their gain.
It would be nice if they were forced to send the pcs they had been contracted to make to the content creators they were promised to instead of selling it off
If I had money I would buy the lots. Email everyone they sponsored with an offer. Id hold up to there promises and liquidate the entire rest of the stock via sponsored giveaways. That would gain extreme brownie points with the PC community and from there I would just run the business like it should have been ran. Id undercut new stock 5%-10% for awhile. People would flock to buy from my store since I proved I am on there side... I wonder why everyone's business models are designed to squeeze as many pennies as they can when you COULD just give the best deals around and still make a profit. Im to generous to be rich but a man can dream lol
Can a lawyer get a court order to put a temporary lean against the physical the specific computers that were paid for and contracted for? The judge maybe able to post pone specific items being sold that is considered not their property.
Hm, I feel like it'd be easy content if someone had the money to buy the lots and try to get the PCs to whoever ordered them..lol, do a person an episode, but you'd need big funds to sink into it for eventual return.
What would be cool is if someone rich were to aquire this and give them to their respective owners of the pc, those who were supposed to get a pc but didn't
These people need to sue Artesian's owners. I can almost guarantee the higher ups, quite likely the same jerks who caused this whole mess, are just taking the money and running. And even if they arent, them trying to sell off items they had contracts with other people for is illegal in *multiple* ways, primarily of which very blatant and willful violation of contract, and they can be held accountable. This goes far beyond being shitty, this is downright illegal activity at this point. Sue them.
Isn't the point of selling everything to pay off debts? At the very least, by not upholding their contract with the partnered streamers, they owe them a debt which needs to be repaid. Maybe their now ex-partners can claim debt or some shit. Im not a lawyer, so obviously I don't have a clear-cut answer, but there should be someway through this for the streamers being screwed at the moment.
Artesian reached out to me to promote them maybe 3 weeks before this all went down. They ended up blocking me for speaking out on someone abusing his dog on stream because he was a partner with them. After that I knew they were bound to crash and burn at some point.
Always thought it was weird and gross how their upgrade/subscription system worked. Donating money to a streamer that already spend 5-10k on a pc for upgrades is tacky af
I've only ever watched 3 Artesian builds in the last 4 months and they have all been the same, screwing over innocent people, man if I had the money I'd buy every lot and give those people their PCs and more
Once the company ceases to exist, i'm pretty sure all contracts are pretty much out of the realm. Hope the asshole owner doesn't go under on a different name, while having someone else act as CEO.
“Where did the money go?” I likely have a pretty good answer: it didn’t go anywhere. They are specifically filing for what’s called “Chapter 11” Bankruptcy. This type of bankruptcy allows for the protection and retention of certain capital for the purpose of redistribution and reorganization without having to resort to complete liquidation of all assets. This allows them to continue to pay debts without losing all control to the court. Likely, this money will resurface in obscure (but legal) ways as they weasel their way out of future liability.
I think his parents were tied up in the business, and the way they were 'silent partners' or something like that, they will be paid first out of all the creditors that are owed. So yeah. Stupid frat boy won't really learn any lessons..
Im glad JayTwoCent gave the person who fairly won an actual pc in the flesh. Artesian builds had one job and fucked up HARD, not to mention all the scummy shit they did over their time as a company.
Yeah really good PR move by Jay I'm sure he made tons of money and got tons of views from doing it. Wonder if he would have done the same thing if there wasn't financial incentive.
@@stevebanning902 knowing Jay, he probably would. He literally was going to give her his own parts to try and help. But then evga stepped in and donated a bunch of stuff. At that point he probably felt like he needed to do a video to shout out evga. And because he wanted to shine light on how crappy artesian was. He probably did make some money on the video though through views
@@MoA-Reload... And she doesnt seem to use that Pc because at the same day that I saw the video ( it was already like a week old or smth ) I checked her stream, and she was using an entirely different pc with other components in it So yeah idk what happened to Jay's Pc.. did she sell it?
How is this not simply fraud? They took money with clear claims of what would be given as a result and did not fulfill their contracts. If a bankruptcy judge lets this go through without comment I'll be amazed.
Legally, Fraud requires there to be some degree of deliberate failing or misleading - Its not fraud if the company intended to follow through, and made it's best efforts to do so, but still failed. The company is left with a debt to refund the money received, due to failure to provide the good or service the money was paid for. Unless they were deliberately misleading about their ability to build and deliver PCs, or made no efforts to build the PCs, they aren't liable for any debt beyond a full refund unless the sales contract includes failure penalties (unlikely, since it would be based on artesians T&Cs, you usually only see that on actually negotiated contracts). So, they OWE people money. But you see, the fundamental thing about bankruptcy, the very thing that it IS, is saying you owe more money than you have or can get by selling all your stuff. So all the stuff gets sold, and money gets paid out to everyone they owe it to in an order of priorities - and customer refunds are not high on that list. Bank debts will probably get paid, building lease might get paid, suppliers waiting on outstanding invoices for parts might get some of what they are owed, employees (at least in NZ, not certain in USA) will probably get all their pay (unless business is badly in the red). Owners and investors of the business get nothing.
It will likely go through. And really a lot of people will be pissed. Not only the customers/content creators that got fucked over by this. But other custom computer manufacturers would be pissed. All because these assholes got away with stealing millions in a bankruptcy. They will have a harder time making sells. All because people's trusts has been damaged. Now I know this may not be the case. Yet it will cause a minor shake up. Even may cause a small drop in Custom PC sells. But it won't be major. After all. GPU pricing is already doing that. On top of everything else going up. Because of a conflict that everyone told that one country to not do it. Because it is stupid. But they did it anyway and proved to be bigger fools than a certain president who can ride a bike properly.
@@alimanski7941 There is a slight difference in that some stuff that was already bought and paid for is now being auctioned off. The streamer PC's were built on stream and declared to belong to said streamers. They were just never sent. It can easily be argued that Artesian no longer owned the stock even if they never bothered to ship out the order.
@@ShaggyRogers1 The determining factor is whether the product was fulfilled and delivered. Some of the systems were returned for repair. Those systems are not valid auction assets. And yes, it sucks that customers are out money with the structuring of a bankruptcy reducing the likelihood of financial recovery.
Damn that's messed up man. I feel so bad for all those people who paid up front for a PC and got scammed. Many of them scraped up enough to get their first PC, exited to finally get an amazing graffics card, thinking constantly about what mods they would try first.
@@hungWTF no he wouldn't. The money from these auctions won't be going to Artisan or anyone involved in the company. It gets distributed between Artisan's creditors and anyone else that can prove that Artisan owes them. So if you bought a PC and paid for it but it wasn't delivered you can in theory contact the liquidators with proof and receive at least some of what you're owed.
I think that Phynix company has a real opportunity to buy the lot and give the PCs as was intended, I'm sure they'd gain trust and a lot of customers doing so.
@@nostrum6410 But it would be the right thing to do. I SWEAR whoever made the rule saying that even PERSONAL PROPERTY owned NOT by the Company can be sold just to pay creditors, if that despicable waste of oxygen is still alive, honestly, they should just be sentenced to the electric chair. Because that should be ALL KINDS of illegal. IT WAS NOT THE COMPANY'S PROPERTY!
@@jeremydale4548 i agree with you, but i dont see how its reasonable to expect this third party to blow their money doing the right thing. I suspect that was illegal aswell
"everyone's favorite computer company"? I haven't even heard of these clowns until all this happened and JayzTwoCents and Gamers Nexus started covering the story. I fell sooo bad for anyone that got caught up in this complete sh*t storm... :-(
4:32 I guess this is where the cash they milked from streamers went - literal money landuring XD I wish I had enough cash to buy these lots and send them to the victims of Artesian
I've last watched you years ago when u made really cheap PCs and built ones for your friends. Its amazing to see how you grew (also physically let's gooooo) and I'm super proud man
The fact that all items in a single location are being sold as single lots seems suspicious to me. It drastically reduces the amount of people who would be willing to bid on it, making it easier for the original owners to buy through a shell company to pick up where they left off.
But auctioning a load of stuff off individually then arranging either shipping or pickup takes a lot of time and effort which someone has to be paid for, that payment has to come out of the proceeds, so selling in one lot is likely to generate more money to pay off the company debts. At least it is being auctioned, so should be some sort of market value.
Or you can throw the RMAs into a pile, don't mention their RMAs and try to get full price. So far when it comes to this company, assume the worst then multiply that by two and you're probably bang on.
@@mattc3581 That's fair enough take, I've just gotten cynical. It does make sense to bundle up a lot of things, but I just cant help but see it as an opportunity for a proven scummy businesses man to do scummy businesses man things and come out of this much better off. Especially since already spoken for product is getting caught up in the mess.
For the 20 years i lived here the carpet place on the corner has filed for bankruptcy every few years. A lot more often than individuals can thats for sure. Then they reopen with a different name. The stock and everything else about the place remains the same, including the staff. So your idea isnt that uncommon. And its so blatant and obvious in some cases, and goes on for so long, it either must be legal or no one cares.
This whole thing makes me greatful I decided to just do the research and build my own pc instead of trusting a builder. Really sucks for all those people that ended up losing money from this bs
if I had the money I'd just make the pcs myself and ship them to the promised people instead of wasting my money on that so at least I know the creators are getting what they deserved. sadly because I think like this I won't ever have the money to do this.
I still don't understand how PCs sent back for warranty work got auctioned off as AB's property. If a car dealership closes they don't auction off the customer cars locked in the service department as the dealership property.
What I want in this life is for one person who buys a lot to just go through all the inventory and gift out all the PCs that creators had basically bought and give it back to them. As for the fans who spent £12k on donations, it just sucks. This isn't a company going bust, this is a criminal organisation.
I was one of those partnered content creators that they tryed taking advantage of. Initially they approached their "Prey" with very inviting and welcoming buz words but the second you where in with them anyone with a sizable audience would be put up on a pedestal to make them feel special and thats when the "taking advantage of" would happen, youd start hearing them asking you to do things and setting expectations of what they want from you...If you didnt have a large audience you where basicly religated to being a Low form cash cow to make a few extra bucks off of through your affiliate code. Its pretty scummy and honestly I feel sorry for those who didnt know or where inexperienced to understand what was actually happening.
I can tell you that they had over 50 pc's that were being built or repaired for paying customers. These people payed or were promised a pc and it will be sold as is on the lot. These machines are not listed in the public listing, It's really sad.
Good thing: They're gone now. Bad thing: They've done it in their fashion by ripping everyone off. Employees, suppliers, 'real' customers, associated content creators and even the authorities.
It only gets better. Imagine not even being able to go bankrupt correctly.
Most companies, unfortunately, do the exact same thing. Rarely has a company actually shut down on good terms with its customers and employees, normally it squeezes every last penny out of the "bankruptcy laws".
I'm surprised they can even breath without dying
@@Noah-lj2sg bankruptcy laws require the assets to be frozen and sold, and determines the order in which creditors get paid. There is no “squeezing” lol that’s just the way it is. Obviously not a fan of Artesian but this is a curator selling off inventory, the original owners have no control over this.
in amazon i saw the pc wood case my dude
@@MrPancakeYT my point is that they push themselves to the point of bankruptcy instead of stopping earlier
The icing on the cake of how terrible the company is, if you look at the original listing, among the assets they are selling, is privacy data of 10,000 people (Names, billing addresses and emails). After they were caught, they removed this from the listing.
Like . Woops. We'll keep that for our next auction on the dark web. Eh.
That is scummy
It's probably still being sold, though, lets not pretend otherwise.
Isn't that mentioned in the video and is still on the list?
the reson you get adds anywhere on the internet is becouse EVERY company is selling your data, its like stock brockers buying and selling only its "user information". everything you do on the internet will be collected, the resolution of the browser that is open to what you click on and even the mouse movement. everything is collected and sold, its called information farming.
they're selling ramee's pc that has his dead's friend name on it now if thats not fucked then i dont know
i hope someone buys the PC and gives/sells it to ramee x.x
@@Syn741 are you Dumb lol giving that company money .............
It had Boe's name on it or something? Edit: i see it now.
Idk the streamer but that is absolutely horrible and i would be so mad if i was them
@@Syn741 that means someone is literally giving artesian more money 💀
One of my friends got a PC that he paid for built on stream, including a couple small upgrades from donations, DURING the giveaway disaster stream (either that or the day before). It was shipped out during the frantic "ship as much as we can before corporate freezes our assets and stops us" phase. He got one of the last ones.
Yeah I bought a PC from them in January, barely got my refund on it too, think it was late March. Had to dispute it with the credit card, and Artesian came back saying that I had recieved the PC weeks prior. Save your emails, that's how I proved they were lying their asses off.
woah those are some slimy tactics on their part...
Who deletes their emails?
This CEO is likely headed for a "vacation" on the State's dime.
@@JeffDM Actually most people do. Because people don't think far ahead.
@@Garrett1974 they were paying their workers through paypal and later claming fraud and having paypal withdraw the funds from the employees accounts, people should sue them
"I will counter you with 5x your initial asking rate." Yes, hello. I come with an offer of exactly $10.
holy... I just feel bad for the creators, yes they were stupid for accepting a contract in where not only you don't get paid but you have to pay just for a "free pc" but still... damn man
That IP might be worth it depending on how the tertiary case goes, but I'm fairly sure the 20k is worthless. It's a charity company, and if I've learned anything, with few exceptions, charities might be the most corrupt and unscrupulous companies you can ever work with.
maybe they pledged it
Since they failed to send out these PCs and clearly had the ability to, they should be able to be sued. All of the people who subbed would have to be a part of the lawsuit most likely.
They cant sue. They can waste their money on getting a lawyer to do the paper work but it would be pointless since the judge would tell that lawyer to pound sand. In fact any lawyer that would offer to do it would be a shit lawyer taking advantage of the victims and could actually be reprimanded by the courts for filing bs paperwork to the court.
Its an LLC which protects the owners. And then they filed for and were granted bankruptcy. So theres quite literally nothing these victims can do at this point.
Use it as a life lesson. Read contracts and actually think about what your doing with who. A lot of this stuff should of been red flags for any logical person. but its understandable for content creators to be a little excited and not think about it logically. You live and you learn.
@@ronnie3044 Kinda sickening how they were able to basically defraud all these people and be completely shielded form liability due to the way corporate law works.
@@mkuhnactual True. But thats something people need to think about when they start working with companies.
Its a life lesson. At least in this case nobody is out too much.
You kinda have to shield people otherwise nobody would start a business. Most businesses fail in the first 5 years. LLCs and Bankruptcy court atleast allows you to try and start something without losing literally EVERYTHING. Without them there would be a lot of families on the streets because their business failed.
@@ronnie3044 and what about their customers? The people how paid to have PCs and still didn't get theirs?
@@UnknownUserZeroZero What about them? They are just out of luck. Thats how it works.
Is it fair/right? No. But thats life.
Thats why I said its a learning experience. You have to be careful with who you spend money with.
And to look on the bright side, at least this was a relatively low amount of money (1k-3k i would imagine). Ive seen people lose 75k+ to a company that went bankrupt.
Shitty company manages to be even shittier when they don't exist. At this point I'm not even mad, I'm just impressed.
I can't be too impressed. It doesn't take much effort to be a shitty person or company.
@@wickedwonka999 Normally, yes; but they went above and beyond.
Was watching Pestily's subathon while this incident went down. And good on Jay for doing what he did. Mad respect to him
Lol you WOULDNT even protect kids so why have an opinion WHEN YOU WOULDNT do it in that SITUATION
@@JeNnOthebassplayer50 What are you even on about? Go have a popsicle and chill the F out.
@@JeNnOthebassplayer50 huh?
Potentially using that list of names to find who didn't get a PC and see if you can find what they ordered and give it to them
Can’t believe that Fisher Price Starlord has the balls the auction off computers that was supposed to go to the people that bought them
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Imagine buying the lot... only to not get the lot... and then finding out they are trying to resell the lot in a different auction.
In the words of Rick James, "cocaine is a hell of a drug"
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I can't beleive it took this long for them to die off. This was a messed up thing from start to finish.
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I was dealing with Noah before he started this PC biz, a special guy in my opinion i have choice words for. Not surprised one bit how this played out
love your content, and appreciate the insight. Your audio was ahead of your video btw.
Im curious what will happen to person pcs in for repairs. Those have already been sold, then returned, that would actually be a customers property because the sale was fully completed.
I was waiting for the update!!
the "i bought artesian builds" is a good content
you either make a mockery of it or just make it a better place.
Also there's people who have sent back PCs for repair that are also part of the lots being sold. I can't see how this is legal.
I am so happy they won't exist anymore.
I hope they get their PC's back.
wish i was a mulitmillinare so i could buy all three lots, finish the builds, and send the creators thier PCs
Out of all of this my heart breaks for kiapiaa and the pc they won fair and square and AB couldn't even deliver.
Well she got an even better PC from a JayzTwoCents who saw the shadiness and stepped in to help.
Would streamers not be considered customers? If so then there's a chance their mailing address would be given to the buyer.
When the pc prices go down a bit more I'm gonna get into pc flipping because of you
Imagine if some bright minded millionaire gamer content creator won a lot and followed up on the commitments no strings attached, that'd be pretty sweet.
Got a PC from them, works great technically but they butchered the 500 dollar vinyl wrap because they “tried to outsource it” and it was both damaged and extremely low quality. I was only willing to drop such a stupid amount of money on vanity features once in a lifetime so, rip. It was my current profile pic too, would’ve looked amazing but you can barely see it.
They said they were going to send me new panels but never didz
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Wow. Hope those creators were able to do some chargebacks. Imagine all that subbing and spending, not getting your custom pc, and then seeing it online with a lot number on it for auction when it should be going to you. Wow.
legally artesian cant send them out and the police are always going to be more worried about money you owe to banks than what you owe your customers at this point since theres no reputation to ruin as a company so not sending people their shit and selling it in a liquidation sale was pretty obvious especially with how spectacular its downfall was and still is,
I hope the actual customers can. But there are still those poor folks who sent their PC in for repair and have now lost it.
None of what you said puts any responsibility whatsoever on the lot buyers - the inventory goes to the buyer free of any claims, while the seller has to pay the proceeds of the auction do their debtors (anyone they have an unfinished contract with).
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Yay!! A new Kris video!!
glad
Been following all this for a while
acording to that new gamers nexus video peoples PC that were sent for repairs also wont be sent home and probly were sold in those auctions
IF there is a time for someone like Linus or another Tech Tuber to step in, Its now. Get these lots, get the PCs to there rightful owners. and the rest can be sold for parts.
I think LMG has most of their capital tied up atm, lmao. But I get what you mean, there is a wrong to be righted here, and someone capable of stepping in would win big by doing so.
This guy has never heard of darksydephil has he? 😂
justice for my boy ramos
all the money went in to wish starlords bank account
poor ramee 🥺
They are not selling private information, they are selling the business of the company, which includes their operations information. A service company is not worth much if you don't get their customers as well, it would just be a name and that is not worth anything. What they are doing is normal for a company being sold.
and there's the we-woll :3
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Haha ffs our brother Ramee got scamazed.
What if another PC company bought it, and handed out the PC's... would that be any good will on the new companies part?
i don't think they are legally allowed to sell any of the pc's that they offered in the agreements with the content creators especially if those content creators paid money for them cuz its not their property to sell its pretty much if you lived in the same house as someone who files for bankruptcy then tries to sell off your possessions in order to help pay off the debt without your permission might i add its not their property to sell and its not legal
Honestly I would like to see LTT buy these lots, and giving out these PCs to the people who were promised a new gaming PC who never got theirs, it may seem unlikely, but if there's anyone I could trust on delivering, it would have to be LTT since they have a solid standing reputation with their community and within the tech industry as a whole.
I doubt they have the capacity at this time with the screwdriver and backpack in the works... sadge
Yeah, between the development of their screwdriver, backpack, and the property acquisition they just made, they probably don't have the capital to pick up these lots right now.
Why do you want other people to do good deeds? Why don’t you do it yourself
@@stevegonzales527 have you considered that they probably can't? That's a lot of money to spend
@@JerryMcB3rry so let’s get someone else to spend their money :)
If PhynixPC (well played on the name) wanted to immediately propel themselves onto the scene, THEY would honor those streamers builds and orders, even if it was at a loss to them. They can use the torpedoing of their old company due to that jerk off CEO to their gain.
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It would be nice if they were forced to send the pcs they had been contracted to make to the content creators they were promised to instead of selling it off
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Poor ramos man. That was supposed to be a big deal when he moved to fb
I really hope, someone who has a kind fucken heart, will buy those lots and ship those pc's to the creators who has been "scamed" for.
They will come back, with another name, and another more exploitative method, more refined.
They where pocketing the extra money… duh
If I had money I would buy the lots. Email everyone they sponsored with an offer. Id hold up to there promises and liquidate the entire rest of the stock via sponsored giveaways. That would gain extreme brownie points with the PC community and from there I would just run the business like it should have been ran. Id undercut new stock 5%-10% for awhile. People would flock to buy from my store since I proved I am on there side... I wonder why everyone's business models are designed to squeeze as many pennies as they can when you COULD just give the best deals around and still make a profit. Im to generous to be rich but a man can dream lol
Can a lawyer get a court order to put a temporary lean against the physical the specific computers that were paid for and contracted for? The judge maybe able to post pone specific items being sold that is considered not their property.
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The washer and dryer must have been for laundering the money they were bilking out of creators supporters.
i bought my build from nzxt. no scummy scamming thankfully
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Rip ramee!!!
Artesian intangibles? I'd be willing to bet $.05 just for the meme.
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wait what... you can sell the customers data without their consent? O_O??
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Hm, I feel like it'd be easy content if someone had the money to buy the lots and try to get the PCs to whoever ordered them..lol, do a person an episode, but you'd need big funds to sink into it for eventual return.
What would be cool is if someone rich were to aquire this and give them to their respective owners of the pc, those who were supposed to get a pc but didn't
It just gets worse I wonder if those streamers are going to get their money back. Will they have to sue to get what is theirs.
These people need to sue Artesian's owners. I can almost guarantee the higher ups, quite likely the same jerks who caused this whole mess, are just taking the money and running. And even if they arent, them trying to sell off items they had contracts with other people for is illegal in *multiple* ways, primarily of which very blatant and willful violation of contract, and they can be held accountable. This goes far beyond being shitty, this is downright illegal activity at this point. Sue them.
Isn't the point of selling everything to pay off debts? At the very least, by not upholding their contract with the partnered streamers, they owe them a debt which needs to be repaid. Maybe their now ex-partners can claim debt or some shit. Im not a lawyer, so obviously I don't have a clear-cut answer, but there should be someway through this for the streamers being screwed at the moment.
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Artesian reached out to me to promote them maybe 3 weeks before this all went down. They ended up blocking me for speaking out on someone abusing his dog on stream because he was a partner with them. After that I knew they were bound to crash and burn at some point.
How about the RMA machines, people who send in their machine to have them repaired. pc's with their files ( as gamers nexus mentioned)
Can they even sell their business name and trademark? I thought they couldn't do anything with it until they resolved their tax delinquency.
🔥🔥
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Im still wondering if they know what "Artesian" means, or if they just misspelled "Artisan"
Mr Beast should buy all the lots and give everyone there PCs then start his own builds company imo
Always thought it was weird and gross how their upgrade/subscription system worked. Donating money to a streamer that already spend 5-10k on a pc for upgrades is tacky af
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Everyone's favorite? Give your head a shake
6:51 Taking notes here. So if I want to lowball you for a sponsorship I should lowball by at least a factor 6 to make a decent profit.
I've only ever watched 3 Artesian builds in the last 4 months and they have all been the same, screwing over innocent people, man if I had the money I'd buy every lot and give those people their PCs and more
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This is so messed up bro...
I would actually class this as serious fraud by the company...
Holy shit another banger video
Once the company ceases to exist, i'm pretty sure all contracts are pretty much out of the realm. Hope the asshole owner doesn't go under on a different name, while having someone else act as CEO.
@@DrunkenDove that's what i'm hoping :P
Also depends on the court case stemming from the state of California and of he gets banned from ever being a ceo or investors again
Hey brother I’m a 21 year old mexican that smokes weed on my TH-cam channel as my job. I did a Mukbang inside of Lowes smhhh
@@DrunkenDove they wouldn’t find out , lots of people shadow ceo
@@DrunkenDove same here
“Where did the money go?”
I likely have a pretty good answer: it didn’t go anywhere. They are specifically filing for what’s called “Chapter 11” Bankruptcy. This type of bankruptcy allows for the protection and retention of certain capital for the purpose of redistribution and reorganization without having to resort to complete liquidation of all assets. This allows them to continue to pay debts without losing all control to the court. Likely, this money will resurface in obscure (but legal) ways as they weasel their way out of future liability.
Their CEO also had a penchant for spending insane amounts of money on stupid shit.
ceo is a suburban spoiled brat with a spending problem.
@@tiladx Hes not getting physical beatdown by someone already a miracle lol
@@tiladx He also changed his last name to his mom's maiden name to escape scrutiny. Total scumbag.
I think his parents were tied up in the business, and the way they were 'silent partners' or something like that, they will be paid first out of all the creditors that are owed.
So yeah. Stupid frat boy won't really learn any lessons..
“And theeerrres the reroll!” That should be saved on a soundboard somewhere.
Swear he said rewoll
Yeah, he did say rewoll
I thought he said wewoll personally. Lol
Im glad JayTwoCent gave the person who fairly won an actual pc in the flesh. Artesian builds had one job and fucked up HARD, not to mention all the scummy shit they did over their time as a company.
Yeah really good PR move by Jay I'm sure he made tons of money and got tons of views from doing it. Wonder if he would have done the same thing if there wasn't financial incentive.
@@stevebanning902 knowing Jay, he probably would. He literally was going to give her his own parts to try and help. But then evga stepped in and donated a bunch of stuff. At that point he probably felt like he needed to do a video to shout out evga. And because he wanted to shine light on how crappy artesian was. He probably did make some money on the video though through views
That was a nice build too and the packaging was a work of art 😂👌
@@MoA-Reload... And she doesnt seem to use that Pc
because at the same day that I saw the video ( it was already like a week old or smth ) I checked her stream, and she was using an entirely different pc with other components in it
So yeah idk what happened to Jay's Pc.. did she sell it?
@@saitamaro6969 That would be fucked up if she sold it.
How is this not simply fraud? They took money with clear claims of what would be given as a result and did not fulfill their contracts. If a bankruptcy judge lets this go through without comment I'll be amazed.
Legally, Fraud requires there to be some degree of deliberate failing or misleading - Its not fraud if the company intended to follow through, and made it's best efforts to do so, but still failed. The company is left with a debt to refund the money received, due to failure to provide the good or service the money was paid for. Unless they were deliberately misleading about their ability to build and deliver PCs, or made no efforts to build the PCs, they aren't liable for any debt beyond a full refund unless the sales contract includes failure penalties (unlikely, since it would be based on artesians T&Cs, you usually only see that on actually negotiated contracts). So, they OWE people money. But you see, the fundamental thing about bankruptcy, the very thing that it IS, is saying you owe more money than you have or can get by selling all your stuff. So all the stuff gets sold, and money gets paid out to everyone they owe it to in an order of priorities - and customer refunds are not high on that list. Bank debts will probably get paid, building lease might get paid, suppliers waiting on outstanding invoices for parts might get some of what they are owed, employees (at least in NZ, not certain in USA) will probably get all their pay (unless business is badly in the red). Owners and investors of the business get nothing.
It will likely go through. And really a lot of people will be pissed. Not only the customers/content creators that got fucked over by this. But other custom computer manufacturers would be pissed. All because these assholes got away with stealing millions in a bankruptcy. They will have a harder time making sells. All because people's trusts has been damaged.
Now I know this may not be the case. Yet it will cause a minor shake up. Even may cause a small drop in Custom PC sells. But it won't be major. After all. GPU pricing is already doing that. On top of everything else going up. Because of a conflict that everyone told that one country to not do it. Because it is stupid. But they did it anyway and proved to be bigger fools than a certain president who can ride a bike properly.
In a bankruptcy, the order in which debts are paid is preset in law. Typically, customers are way down the line.
@@alimanski7941 There is a slight difference in that some stuff that was already bought and paid for is now being auctioned off. The streamer PC's were built on stream and declared to belong to said streamers. They were just never sent. It can easily be argued that Artesian no longer owned the stock even if they never bothered to ship out the order.
@@ShaggyRogers1 The determining factor is whether the product was fulfilled and delivered. Some of the systems were returned for repair. Those systems are not valid auction assets. And yes, it sucks that customers are out money with the structuring of a bankruptcy reducing the likelihood of financial recovery.
Im so glad that you’re covering this. Its good that creators are calling out this company’s (well more like the company’s owner’s) bs.
Damn that's messed up man. I feel so bad for all those people who paid up front for a PC and got scammed. Many of them scraped up enough to get their first PC, exited to finally get an amazing graffics card, thinking constantly about what mods they would try first.
i would literally cry if that happend to me
bot? cause it ALMOST seemed like a real person wrote that. almost.
Graphics *
Graffics...omfg my brain enlarged
@@aylahughes9185 are you asking me that?
Mr Beast should just buy them and give out the PCs to the people who didn't get them.
then he’d be giving the scam company money
Or LTT
@@hungWTF no he wouldn't. The money from these auctions won't be going to Artisan or anyone involved in the company. It gets distributed between Artisan's creditors and anyone else that can prove that Artisan owes them. So if you bought a PC and paid for it but it wasn't delivered you can in theory contact the liquidators with proof and receive at least some of what you're owed.
You'll be last on the list though
If I was balling I'd definitely do it. This whole situation is fucked up.
I think that Phynix company has a real opportunity to buy the lot and give the PCs as was intended, I'm sure they'd gain trust and a lot of customers doing so.
would also lose a lot of money
@@nostrum6410 But it would be the right thing to do.
I SWEAR whoever made the rule saying that even PERSONAL PROPERTY owned NOT by the Company can be sold just to pay creditors, if that despicable waste of oxygen is still alive, honestly, they should just be sentenced to the electric chair. Because that should be ALL KINDS of illegal. IT WAS NOT THE COMPANY'S PROPERTY!
@@jeremydale4548 i agree with you, but i dont see how its reasonable to expect this third party to blow their money doing the right thing. I suspect that was illegal aswell
"everyone's favorite computer company"?
I haven't even heard of these clowns until all this happened and JayzTwoCents and Gamers Nexus started covering the story.
I fell sooo bad for anyone that got caught up in this complete sh*t storm... :-(
4:32 I guess this is where the cash they milked from streamers went - literal money landuring XD
I wish I had enough cash to buy these lots and send them to the victims of Artesian
I've last watched you years ago when u made really cheap PCs and built ones for your friends. Its amazing to see how you grew (also physically let's gooooo) and I'm super proud man
i'm only 8 seconds in and i'm laughing. subbed instantly
The fact that all items in a single location are being sold as single lots seems suspicious to me. It drastically reduces the amount of people who would be willing to bid on it, making it easier for the original owners to buy through a shell company to pick up where they left off.
But auctioning a load of stuff off individually then arranging either shipping or pickup takes a lot of time and effort which someone has to be paid for, that payment has to come out of the proceeds, so selling in one lot is likely to generate more money to pay off the company debts. At least it is being auctioned, so should be some sort of market value.
I've seen multiple companies go through sales and buyouts, just like Matt said it's so much faster and easier
Or you can throw the RMAs into a pile, don't mention their RMAs and try to get full price. So far when it comes to this company, assume the worst then multiply that by two and you're probably bang on.
@@mattc3581 That's fair enough take, I've just gotten cynical. It does make sense to bundle up a lot of things, but I just cant help but see it as an opportunity for a proven scummy businesses man to do scummy businesses man things and come out of this much better off. Especially since already spoken for product is getting caught up in the mess.
For the 20 years i lived here the carpet place on the corner has filed for bankruptcy every few years. A lot more often than individuals can thats for sure. Then they reopen with a different name. The stock and everything else about the place remains the same, including the staff. So your idea isnt that uncommon. And its so blatant and obvious in some cases, and goes on for so long, it either must be legal or no one cares.
This whole thing makes me greatful I decided to just do the research and build my own pc instead of trusting a builder. Really sucks for all those people that ended up losing money from this bs
If I had the money, I would of bought both the lots and give all of the promised PCs to the content creators.. Jesus, what a shady company
if I had the money I'd just make the pcs myself and ship them to the promised people instead of wasting my money on that so at least I know the creators are getting what they deserved. sadly because I think like this I won't ever have the money to do this.
if only you knew how dumb this sounds
I still don't understand how PCs sent back for warranty work got auctioned off as AB's property. If a car dealership closes they don't auction off the customer cars locked in the service department as the dealership property.
"Thermal paste?" -bloop- "hehehe"
Lol. Subbed
What I want in this life is for one person who buys a lot to just go through all the inventory and gift out all the PCs that creators had basically bought and give it back to them. As for the fans who spent £12k on donations, it just sucks.
This isn't a company going bust, this is a criminal organisation.
If LTT didn't have their money tied up in new products and buildings I'd see them do this.
And the actual customers. And people who sent their PC in for repair and will never get it back.
I was one of those partnered content creators that they tryed taking advantage of.
Initially they approached their "Prey" with very inviting and welcoming buz words but the second you where in with them anyone with a sizable audience would be put up on a pedestal to make them feel special and thats when the "taking advantage of" would happen, youd start hearing them asking you to do things and setting expectations of what they want from you...If you didnt have a large audience you where basicly religated to being a Low form cash cow to make a few extra bucks off of through your affiliate code.
Its pretty scummy and honestly I feel sorry for those who didnt know or where inexperienced to understand what was actually happening.
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Dang no mention of the "Gigabyte fire hazard horrible 750w PSUs" on the NC lot 2 inventory? Missed a good one lol
"i did it in a stupid way" wow, we know
I can tell you that they had over 50 pc's that were being built or repaired for paying customers. These people payed or were promised a pc and it will be sold as is on the lot. These machines are not listed in the public listing, It's really sad.
Good thing: They're gone now. Bad thing: They've done it in their fashion by ripping everyone off. Employees, suppliers, 'real' customers, associated content creators and even the authorities.