Kevin is REALLY good at interviewing! Watch how enthusiastic he is, how he asks leading questions & verifies answers & probes for further info without criticizing the owner or raising his defenses. Kevin also REALLY knows his stuff in house-building & construction materials. Gov't Relations I think his analysis of the info he extracted is correct: there's a LOT of red flags here. Promising, but the owners aren't playing straight as we'd want, bureaucratic & systemic constraints on their ability to deliver are WAY more significant than they're acknowledging. They're admitting the problems but not really acknowledging they're potentially show-stoppers. Much of the permitting problems are analogous to the protectionist problems Tesla has faced from state licencing boards for car sales, actions taken due to political pressure from car dealer associations. The difference is, worst case, Tesla sells direct through the state next door, asks you to drive from Austin (or wherever) in Texas to Oklahoma to take delivery. Cars are inherently mobile. Houses are not, and you're subject to local permitting for approval. Utility connections are fixed. Standards vary by state & are constantly changing. This is a nightmare. Scaling & Vision Something else Kevin didn't highlight: he pulled out that R&D is just the three owners, but this owner asserts that they're not hiring people with specialised trades knowledge (expensive); they're hiring general labour (cheap) & training them in what to do. This contrasts with what Tesla does: Tesla spends $$$ to hire engineers - LOTS of engineers - & develops teams to address design & production problems, work on constant improvement. Housing is a much more basic industry, & these guys aren't changing that. They're bringing some smarts to the table but Tesla, they aren't. And they're not really building a company. They're building a machine in theory, one capable of increasing production rate over traditional manufactured housing (one-offs), but they aren't building a company of people that operates, innovates independent of the three guys who own it. THAT'S A PROBLEM which Kevin notes briefly ("R&D is just the owners") but which deserves greater scrutiny. DR Horton is a massive homebuilder, a real company: the owner(s) could step away & the juggernaut continues. Tesla is MUCH MORE than Elon Musk: he's built an organism, a free-standing & self-sustaining business of people who design, produce, manufacture & innovate without Musk's direct attention. These guys aren't doing that & don't seem to see the need to do so. THAT'S A PROBLEM. Ethics - Compare with Kevin's I'm intrigued that Kevin is floating his own startup (HouseHack) with zero dilution for investors. This is Kevin's brand: transparency & honesty. He's paying for the jet. He's not discounting investors' money. And he's making it very easy to see where his strengths lie, what he knows about the business he's starting, how he operates. I REALLY hope Kevin is able to offer a public offering for non-registered investors (the public: you & me). It'll be fun to watch this guy mix genius with ethics & build a massive business. Kevin has had tremendous success to date but it looks like he's deserved every cent he's made. That's inspiring.
Yup this helped me want to invest in Kevin’s start up business especially after other private investments I have made that are no where near as good valuations. I mainly want to invest in Kevin’s start up for the real estate exposure as he is correct about the right time for his start up is when we have blood in the street so can get the best deals and utilize great technology to build a great business.
Also I agree that they seem to be scaling without perfecting and how is a guy that was in cannabis and Bitcoin able to do r&d to me should hire experts and refine before scale up also to sell shares before profitable seems shady at least as a entrepreneur I would never do that as any business I create I put all into and to me my money should stay in the company until at least profitable. If I take investors money I want to give there investment back before I take profits.
"From now on, any influencer or writer that publishes misleading info or outright lies about @boxabl will see us in court. I’m done being nice. Think carefully before you pick the fight. Not going to standby and let people damage our investors, customers, and mission so they can hijack our viral success for views and clout."
I’ve been in the construction industry all my life and a general contractor I think this company has huge potential. The idea of having one of these delivered after I have the foundation and other things needed would be a tremendous help and I think I could build a very nice business around their product.
They don't though. They still haven't built homes that meet code. Everything they do has been red tagged. This dude just lied in the first few minutes.
I built my own fully solar-powered completely off-grid tiny home on wheels out of a highly insulated refrigerated truck box with all the amenities of home for under 10k.. including 12-volt air conditioning and heat, recirculating shower with filtration and UV, 65-inch TV with internet, convertible couch/bed, running water, microwave, convection oven, air fryer, coffee maker, compressor refrigerator/freezer, oh and PS4! 😂 Ben off-grid now for almost four months with no bills absolutely loving it!! Ultimate freedom on the cheap!!
that sounds awesome, make a video about it! In 2008 I converted a 26ft box truck into a mobile photography showroom for my motorsports photography business. I decided not to go with a refrigerated truck and instead insulated it with 1 inch foam board, put three 13.5k RV A/Cs on the roof and frame mounted a 10k Onan diesel gen that tapped into truck's fuel tank. When I no longer needed it mobile, I just popped the box off and it's on the ground now, hardwired into power. That rig has made me and the new owner of the business a lot of money and it's still in use today. Those truck bodies are very durable.
@@bossturbo that's awesome your build sounds great!! I agree these commercial truck boxes are built to a better standard than most.. the refrigerated truck box is definitely heavy just the box was about five thousand pounds but that's the route I chose on a heavy duty trailer just for the efficiency, walls ceiling and floor are 4 in thick spray foam.. to be fully solar-powered with AC and heat when it's 30-120 degrees in Az .. I'm not much of a TH-camr OR tech savvy but perhaps when I'm completely finished with the build I'll make some videos explaining the systems I used.. Thanks man!
That will all change when you get a girlfriend or boyfriend I don’t want to insult anyone one lol. Jk actually it will be a good way to know if a girl or guy loves you for you.
@@dalebruno5201 well, I suppose I agree.. lol. I'm Single by choice, have had many good long relationships over and done with all that. Governments weaponized the dollar and women have weaponized love😂 But I suppose if I meet someone I connect with living the lifestyle I am, you're right they must love me for me! 🤣
@@danielkurek7009 I’m glad you knew I was just fooling with you. Well look being able to build a refrigeration truck into a cute little living pad means two things that women love the most a man that can fix shit and money that you will have by saving on a housing expenses. So your good bro. One more thing I saw on AIRBNB people pay good money man to experience living off the grid if your place is up to par I bet you could actually make a Phucking killing
... except that he was promoting them at the time.... I'm not hating; it's nice that he's publicly reversing on that stance, but let's not call a duck a swan.
Thank you for saving my money. It’s looking like Astra, Nikola.etc built a building make it public, pay advertising and take the money from people. Scam like this should be hunted by proper authorities!
Just finished converting a shed to a tiny house...had to add electrical, driveway, plumbing, everything...cost about $70,000.00 all in. Bought the Shed 2nd hand($12,000 on FM) and that saved money. Going to make into an airbnb rental. We paid a contractor to do everything. In rural Missouri.
@@phillyvoodoo $35-$50 per square foot is more like it. I purchased a few modular homes back in 2007 from a manufacturer in Pennsylvania. Two were 2200 s.f. and the 3rd was 4,000 s.f. and I paid less than $55 per s.f. (house only)
as soon as the owner said he had a marijuana farm and a bitcoin mining business before the boxable business, I know 100% this one is going broke in the near future
I've sold 500+ homes, probably been in thousands and been through hundreds of inpsections both new and old. The amount of knowledge Kevin has about construction is absolutely mind blowing. I know real estate and I feel stupid listening to him talk real estate.. lol GG Kevin. Awesome video.
My family has built hundreds of homes. This man's contribution to the company is NOT worth 400k per year currently (or maybe ever). This guy is delusional and I wouldn't want anything to do with him or a company that he runs.
Although I don't see eye-to-eye with everything that @MeetKevin says, I have to say that his questions were really good and proved my concerns in Boxabl. You can see throughout the video that the guy was uncomfortable with Kevin's questions. Alas, their recent Crowdfund round was huge again... If Kevin can do more of these interviews with startup companies related to real estate, or others that he is interested, Kevin will attract a lot more people.
@@MrSomsoc what business owner doesn't like to talk about projections? He also didn't understand the value question about what a million dollar investment was the equivalent in terms of value in the company.
This factory will fail. Another example why a kid with no hands on experience should never be in charge of a big operation. Something smells very fishy. Where there is smoke there usually is fire.
I found the founder very honest and genuine. The company is massively over valued, but this is not uncommon for companies of this nature. Wrights law will take hold the more they ramp up production. Once they are at scale, it may be hard to take market share from them. Like i said, way over valued at this stage, i expect this to normalise over next year or so. I am happy to watch and wait for their margins to show a stable path to profit and then think about investing.
They have no interest in scaling production or delivering homes. This is why they focus more on fundraising then manufacturing. Sadly I give them about 12 months before they disappear with everyone’s money
Agreed. The only crime here is the $3 billion valuation (and citing TAM as a reason for it). Other than that, what they are doing is legitimate. They are just way further behind than they are letting on with regards to certifications, permits, etc, despite the millions spent on machinery/salary/etc. That's what happens when you go viral super early on and then have to play catch-up to execute.
i dont think it was cool to say any negative comments about the co founders BEfore showing us the tour as it skews the bias of how we may feel about the tour ourselves.... otherwise good video
If you watch the full video The main red flag is valuation. There has never been a private company that hasn't sold shares at a value far ahead of where they are actually at. Investing in private companies is about investing in a vision and execution of the management. Boxabl management has achieved quite a lot in the last couple years. I'm invested in many private companies and these guys are actually taking quite a small salary and getting a lot done.
As soon as he said marijuana farm and bitcoin exchange, you can tell he does not give a half shit for this company, he's in it for the money, as soon as the money disappears, he's gonna disappear and start a new start-up. What a scam!
Kevin, thank you for “exposing” Boxabl. I watched the entire 2 hour video and the co-founder provided a great tour and interview. He was transparent on the good and challenges they have, humble and polite despite the CONSTANT interruptions while he was answering questions and providing information. I think people are blinded by the past regarding real estate and not looking at what is being pushed fir the future of real estate. The gov’t WANTS people to live in tight communities. In some areas the cities are encouraging this type of housing. That means there is an even larger push coming for this type of housing. Another piece of proof is the fact that the co-founder mentioned they RECEIVED GOVERNMENT FUNDING! They are being encouraged and incentivized by the gov’t. I see a future with this company, and others like it.
These are just pre-fab modular homes. Euro does it. The humor is the cost is same per square foot. It's just a cool little thing for early adopters or tiny home people
They are taking millions of dollars from investors, but haven’t been able to deliver 1 of their houses. What were they doing all these years? It smells fishy.
I first heard about Boxabl through an ad to invest in it and when I looked into it, found out about how they'd shipped to SpaceX. I was interested as an investor, so I did the math and immediately wondered how they were planning on raising any money with that level of dilution, so I'm surprised to hear they've raised over $140mm. I feel like this is another WeWork scenario unfolding.
I saw Graham's video from a month ago about the company and his summarization of it. Seeing this full breakdown is truly awesome and it's a shame Boxabl is the way it currently is. Hopefully they don't become another company that promises more than they realize from the get go
Didn't you watch the video? This company is making houses out of foam and drywall mud laminated with plastic! The building quality is horrible. These things would last maybe 5 years, and to repair them you would use glue as everything is about as sturdy as glue. They expect poor people to get a mortgage for this 5 year time bomb.
The country, actually the world, needs affordable housing. I had high hopes for Boxabl. The only way this works is if manufacturing exists in multiple states to reduce transportation costs and local talent for labor. The other challenge is permits and licensing within communities. Until these issues get worked out or the country experiences a real depression, the real growth sadly won't happen. Dream that the people living in shelters and on the streets are able to work and afford the American dream of home ownership. Something safe, affordable, and provides opportunity !
@@themattrixrevolution not even remotely, not at this size. A company that can raise a significant amount of money from investors are able to do so because they’re entrusted to drive the business forward. It’s different than when one or two people file an LLC and try to start something.
@@business-advice-that-works That's true in theory. But not necessarily true in real life. I would argue most of the startups in the past 10 yrs, don't know what there doing. Since many haven't turned a profit yet.
@@brandonburns5365 I definitely agree with you. That in theory it should be that way, but it’s not how that world works. That’s why start-ups are so risky
I love Kevin and follow him religiously. But this guy seems like he knows what hes talking about. And basically saying they had a concept it took steam and ran into more road blocks then what they thought they would run into. He obviously has to be still politcal when taking on so much investor capital he cant be totally transparent when he knows its going on youtube. I actually believe in this concept more now after watching this video. And I was expecting them to be a flop hahah Thanks kevin as always for the value!
I will say. Taking a huge salary (by most people’s standards) AND selling $5mil worth of shares at such an early stage is a big red flag to me. I get hedging your odds, but that money basically was directly transferred from investors to his pocket, which I’m not a fan of. Although this sort of thing isn’t uncommon in corporate culture in America unfortunately
I bought an abandoned house and tore it down hoping that in a couple years I could replace it with a Boxabl. You could easily rent out a $50,000 house for $500 a month which would be affordable and profitable. But it's looking more like I'm going to have to build a standard house which is fine. I can still meet my target rental price point but it's going to take longer to get the funds to do it. The problems they're having with permits is probably more related to entrenched interests. It takes time to change laws. They also need to cut the minimum lot size for these to really make sense. If I could split my lot in two with 0.05 acres each, it would double the available affordable housing. 0.1 acres is really excessive for such a small home.
Exactly! If I understand right this company spread the rumor that Elon Musk lives in one of their casitas, long before Elon Musk even heard of them. They have many TH-camrs make videos of boxabl. For me not a serious marketing strategy. And I wouldn’t be surprised if the entire company is not that serious (scammers ?).
This really does sound like a great company that just needs time. They know they have the market, now its time to first get the process streamline so when they truly launch to the day to day people like us. It’ll take weeks even a month or 2 to get our product. Not years like other companies we know. That’s my input on this.
They have sold hundreds of these houses, but haven’t delivered not 1 of them. They got millions of dollars from investors years ago, and nothing is happening. There are cheaper tiny houses you can buy.
@@rickybobby7276 The rectangle to square part opens up cheap international shipment via container shipping and intercontinental shipment via trains and trucks. Huge.
The CNC machine I would recommend is C.R. Onsrud. They got some serious speed. Originally wood working equipment but they can do other things as well. Better to upgrade the spindle though for metal work.
They received $150 M from investors. A $3 B valuation ( $3,000 M) means dilution is $3,000 M /$150 M= 20 so the cash from $1M invested is worth $1M/20 = $50,000, not $318. Kevin's math error is that he treated a $1M investment as if that was the *only* cash they received. A 20x dilution factor is more inline with the "typical" example he gave which was 10x dilution.
Kevin can certainly make TH-cam videos, but he is obviously never built a real operating business. This is a completely unfair assessment of where boxable currently is in the lifecycle of their business. Yes, the company is massively over valued at the current offering. But to have some expectation that they would not be constantly improving their product is crazy. This would be like Kevin criticizing Elon musk 10 years ago when he was iterating and figuring out how to build an electric car. Tesla is still improving their product and pricing… Does that mean they will be a failure and “never deliver an actual product?” give me a break Kevin, this is a poor attempt at Clickbait.
The key to the cost of these buildings is cheap rigid foam material for the walls/structure not factory style construction. Same home could be built on site for less. The whole folding concept is garbage imo.
Great work Kevin. Was about to send 25k to them last year until I read their prospective. Then they kept reminding me to send in the money. So glad I didn’t.
I still have very high hopes for this company. Sure the beginning stages are going to be a bit rocky with many obstacles to overcome but the product is a game changer none the less. I believe they will iron these kinks out in due time and Boxabl will have a firm foot in the future of transforming the global perspective of affordable housing. I also love how the owners didn’t dodge any of the questions. They answered with integrity and transparency. I expect this company to be a complete powerhouse in 2 or 3 years. They know what they’re facing and have a clear direction of what needs to be done to reach their goal. I’m excited to watch their growth. They’re starting to garner a lot of attention and mostly for the right reasons. Kudos to them.
@@truthmatter8661you know I was wondering why did they need to be exposed anyways. He seemed to have answered all the questions truthfully. Didn’t know they were going to be more of an RV but people will still need them in the near future it appears.
This was an interesting tour. It sounds like they are still working things out, so not surprised at some of the things that came out. I saw this a while ago and really liked the concept of it. I'm interested to see how they progress as a company.
No one is working. Everything is once we do this once we do that. Wtf. Daddy and son are cashing out investment money of people and are not putting time in the business.
The simplest thing will play with the unaware. In our area anything over 120Sqr Ft. Must be on a Foundation. Lots of sheds get into trouble let alone mini-homes. Permits in many areas are horrid over the smallest items.
Affordable housing in California STARTS with a change in regulation, permitting, and changes with utility company process for service changes. Without those changes ‘affordable housing” is lip service.
As long as this rogue government is in power, nobody will be permitted to build and live in small affordable homes because their agenda is to have everyone live in their 15 minute cities without a gas powered car and paying rent to companies like Blackrock.
There was no way I was going to put money into this years ago when I got on the waitlist but this is so much worse than I could have imagined. These guys clearly don’t have the drive and don’t believe in the future of their own product. I doubt they will deliver to private homeowners within 5 years, and likely never.
I just dont understand the valuation. I get what they are attempting to do, but it seems so far off it terms of execution. I remember learning about the patents and that round of investing that went before the current one. Any one who got in during that time is currently sitting at about 10x gain already.
@@eric1565 if they were serious they would have a large r&d team, not just the founders watching TH-cam videos for ideas. They have only notional intentions to scale up, but no legitimate plan to do so. They need 10x production capability like yesterday and it doesn’t look like it’s coming anytime soon. So those few hundred/year they produce should deplete their current backlog in….?
@@eric1565 But this company exists since 6 years and they only produced 400 casitas last year. Many people made down payments for such a casita years ago and they still haven’t gotten their casita. Many customers asking to get their money back.
No rebuttal from Boxabl in their “ad” Just accusing Kevin of false info but not one example given…. Hmmmm 🧐 Odd, no?! Funny too cause I’d guess they’re paying for that ad! 😉
I haven't seen anything about the cost of land, permitting, how does water and electric power actually get into the boxes? Apparently you can stack them upwards, side by side. By the time you had one large enough for actual living, it would exceed the cost of a regular house.
So these boxabl casitas have the permission as RV’s, not houses. Then you need to build a basement, get water, suer, electricity, ect. That alone will cost you something between 40k and 100k plus the costs of 60k + for this boxabl casita plus the costs for the land and that could be 200k +.
By selling shares without previously announced sales to be approved by the board. It is like taking investors monies straight out of the bank., money that the company doesn't have, really. The SEC should open an investigation into "Boxabl" before they are able--"abl" to reap off more people.
I think that's the concerning part from an investment standpoint. If you are investing in the idea of the company, it's good that the company can sell that idea to pay back investors. If someone else owns the idea, then what are you really investing in?
Did anyone notice he said they have 60 patent filing so basically it’s a request so there is a chance there are others who are doing this already and they are the first movers. Kind of scary
I think the founder was honest and the company is impressive with really ambitious plan. I don’t have an issue with the 3 founders making roughly $400k in salary and selling some of their company for personal profit. It’s clear that they are innovating and operating. I don’t think it’s a fraud, though the valuation is crazy based on current operations. And I think the owner saying it’s an all or nothing investment is surely honest and forthcoming. Am I investing, no, but am I interested, yes.
I got the prospectus when Boxabl was just starting to expand. In reading the materials it became apparent that the incestuous relationship of the founders/management at least provided the opportunity for fraud or at least a lesser version of such. It seemed very high risk even though it was advertised as 'solid as a rock'.
Putting the financial viability of the company aside for the moment, I think they are some major issues that seem to be insurmountable. Houses live in Mother Nature and are exposed to the environment 24/7 , wet, dry, hot, cold. I haven’t seen any significant real world testing. It seems they went straight from prototype to taking orders and production. They are already talking about version 2.0 and they haven’t delivered significant units in version 1.0. Many products don’t survive first contact with real customers. I hope customers who put down deposits don’t get burned.
Being a Boxabl shareholder, when I listened to Kevin's opening comment, I felt like I had made a poor investment. After watching the entire video, I feel I've made a good investment. It was also great to see the factory and hear the Gen 2 ideas. Galiano is a down to earth, transparent person. I like him every time I hear him speak. Kevin asked some hard & personal questions, and Galiano answered them all without hesitation. Good luck to Boxabl, we need this type housing! NOW.
This is very outdated. This is not a public company. Shares can’t be sold. Start ups sell different kinds of shares to different kinds of investors. All start ups do that. Investors gamble on the future value of the stock. They know it.
I don't know. I think these guys are doing the best they can with what they have. Not every CEO is an Elon Musk. I think the guy being interviewed is pretty sharp. Kevin is awesome but sometimes he's a little too hard on others trying to make it. Kevin has detractors too and some of what they say is true. I think these guys are where Tesla was in the very early days. Totally different product and processes but give them a chance. Clearly he's passionate about what they do. He's not Elon and doesn't share his vision for saving the planet but what they are doing is so needed. Give them a chance, let them figure it out. I hope they do because I would love to put some of these on my properties.
Kevin, I think you are likely correct, they have a few years to go. They will need to build a whole community before it really starts to take off. Meanwhile the valuations are extreme, it's all based on potential. But I'm still hopefull that they can churn out 2 bedroom, 2 bath homes at 100k base model with services and the slab, all in. We gotta do something to give Gen Z and retirees a fighting chance as this nation grows. Not everyone can afford a 350k stick and timber 2 bedroom home and there will be fewer and fewer if we don't create more viable jobs.
As soon as Kevin said they buy parts from China. Those houses certianly looks like those jail cells used to lockdown people in China. And actually China has tons of those useless boxes now.
They did. Kevin didn’t mention it (or maybe didn’t know) but in their most recent filing on a Canadian fundraising platform Frontfundr they disclosed they (the founders) doubled their salaries from 400k to 800k in addition to dumping 5m worth of shares each in a company that is not profitable. This is so so so so sus.
They've been talking about ramping up and having lots of orders for a few years now but another influencer visits the factory and there's still nothing happening there. Weird huh
This company exists since 6 years. And I have just read a month ago that many of their clients are asking for their money back. They made down payments for such a casita years ago and have never gotten it delivered. Customers also say the communication is bad. What I have realized is that this company has 3 owners who are also the CEO, CFO, CIO, head of marketing, head of sales, ect. So basically they have no employees. This is so fishy!
Not exactly dumping shares. He is raising money for the househack, and all sudden he bought a plane that he will need to go in different places to buy houses for the company. Just I think is to early for that. The company isn’t even buying houses yet, is in the beginning and his first thing is to buy a plane.
Besides the fact that this guy is a total bro and his company is absurdly overvalued right now, they may be on to something. If they can get costs down and can sell 5-10000 units a year they could probably turn a profit in 5-7 years if they get to 25k units a year they could be a powerhouse. I wouldn’t buy at that valuation by any means, but the concept is compelling.
The problem is that these boxabl houses are not approved as houses, only approved as RV’s. Then you do need a basement, water, suer, electric, ect. These boxabl houses will end up being quite expensive. And it seems this company has sold hundreds of these houses in the last few years, but haven’t delivered 1 of them. 🤔
Another great expose documentary. But for many of us who are have built ADUs in states with building and zoning codes, it was obvious from day 1 that boxable was little more than a tiny home on wheels (without the wheels). In other words, it always has been obvious that they would not get permits. If I were mot busy, I would change state law to allow for statewide certification of Boxabl ADUs, meaning that units built to the statewide standard would be permittable by right throughout the state. More importantly, @meetkevin, ADUs need to be built to a yet to ve established standard that allows them to be "separable" (sold separately to the main unit). This would produce a landslide of small scale distributed residential development, and entire generations of young adults would once again be able to own a piece of the American dream. The dream will be in hibernation until states impose mandates to eliminate the strangle hold that cities impose on new RESIDENTIAL housing that people want.
The content is incredible well thought out, the intro is great, the tour is one of a kind with actual useable info, the interview is probably the first time they have been this transparent, the title, well please change the title, its a little much to call it what it is when everyone else thinks they are the darlings of modular housing. Great work, thank you!
This video was long overdue. I've been following boxabl since the very very beginning. I was going to invest when it was open to all investors, but after looking through their documentation, and how the investment was going to work, it made me pause and reconsider. I'm no expert, but it sounded to me like there was no benefit for me to invest. Therefore, it was a no from me.
Scared to watch this because I own some shares in boxabl and even messaged you about them ahead of your interview a couple of years ago (with a reply). Let’s see how this goes haha
@A.J. haha I don’t love the patent being owned by a third party with 1% of revenue going to it but otherwise I am about where I was. No surprise that states are giving them hell because that’s their job but if they end up receiving modular approval then I’d still be a buyer when prices come down. 3 billion is definitely a forward vision valuation but that’s what humans do…to say their value is 157x revenue is ridiculous because they aren’t even truly live yet. I’m fine with my position which was at an earlier valuation and if they pull this off 500 billion is there n the cards. How far out are we all wiling to look?
@@eric1565 Well, I am clever enough that I don’t invest in just one way! But maybe you didn’t understand my last statement was a joke, after you trying to convince me I’m loosing something not investing into boxabl.
There's an ad calling this video a big lie, and then it cuts right back to him talking.... Irony 😅 Pro tip: If you are going to make a video to defend your credibility, don't be stoned
Kevin, its slightly misleading that your company is valued at Cash. I went through the website and it says in the event of an exit, you and others might get options. Its not clear what is the value of those options. In theory that could lead to a similar situation as a company that is selling shares similar to any other start up. I have no problem with a founder or others retaining more than their cash investment but your claim is misleading, which I think you should make clear or atleast make clear everytime you make a statement about this. In all likelihood, given that this investment is illiquid, your deal might actually be the same as any other start up as such. You just need to provide how much payout you and others might get from the exit.
Comparing these basic looking manufactured homes in price to a on site built model is not fair. I bet you can get a nice unit from a local manufactured home that is the same price...and guess what...it supports the local economy unlike this corporate trash.
It's not profitable because the demand isn't there. Cities won't allow these houses. I seen a guy who build homes for homeless, they're torn down in a week since homeless must be homeless and people don't like to have people living next to them.
2:20 woah, that is damning. Literally anything can be registered as an RV that means absolutely nothing to anyone wanting to develop any land using Boxabl
Kevin is REALLY good at interviewing! Watch how enthusiastic he is, how he asks leading questions & verifies answers & probes for further info without criticizing the owner or raising his defenses. Kevin also REALLY knows his stuff in house-building & construction materials.
Gov't Relations
I think his analysis of the info he extracted is correct: there's a LOT of red flags here. Promising, but the owners aren't playing straight as we'd want, bureaucratic & systemic constraints on their ability to deliver are WAY more significant than they're acknowledging. They're admitting the problems but not really acknowledging they're potentially show-stoppers. Much of the permitting problems are analogous to the protectionist problems Tesla has faced from state licencing boards for car sales, actions taken due to political pressure from car dealer associations. The difference is, worst case, Tesla sells direct through the state next door, asks you to drive from Austin (or wherever) in Texas to Oklahoma to take delivery. Cars are inherently mobile. Houses are not, and you're subject to local permitting for approval. Utility connections are fixed. Standards vary by state & are constantly changing. This is a nightmare.
Scaling & Vision
Something else Kevin didn't highlight: he pulled out that R&D is just the three owners, but this owner asserts that they're not hiring people with specialised trades knowledge (expensive); they're hiring general labour (cheap) & training them in what to do. This contrasts with what Tesla does: Tesla spends $$$ to hire engineers - LOTS of engineers - & develops teams to address design & production problems, work on constant improvement. Housing is a much more basic industry, & these guys aren't changing that. They're bringing some smarts to the table but Tesla, they aren't. And they're not really building a company. They're building a machine in theory, one capable of increasing production rate over traditional manufactured housing (one-offs), but they aren't building a company of people that operates, innovates independent of the three guys who own it. THAT'S A PROBLEM which Kevin notes briefly ("R&D is just the owners") but which deserves greater scrutiny. DR Horton is a massive homebuilder, a real company: the owner(s) could step away & the juggernaut continues. Tesla is MUCH MORE than Elon Musk: he's built an organism, a free-standing & self-sustaining business of people who design, produce, manufacture & innovate without Musk's direct attention. These guys aren't doing that & don't seem to see the need to do so. THAT'S A PROBLEM.
Ethics - Compare with Kevin's
I'm intrigued that Kevin is floating his own startup (HouseHack) with zero dilution for investors. This is Kevin's brand: transparency & honesty. He's paying for the jet. He's not discounting investors' money. And he's making it very easy to see where his strengths lie, what he knows about the business he's starting, how he operates.
I REALLY hope Kevin is able to offer a public offering for non-registered investors (the public: you & me).
It'll be fun to watch this guy mix genius with ethics & build a massive business. Kevin has had tremendous success to date but it looks like he's deserved every cent he's made. That's inspiring.
Yup this helped me want to invest in Kevin’s start up business especially after other private investments I have made that are no where near as good valuations. I mainly want to invest in Kevin’s start up for the real estate exposure as he is correct about the right time for his start up is when we have blood in the street so can get the best deals and utilize great technology to build a great business.
Also I agree that they seem to be scaling without perfecting and how is a guy that was in cannabis and Bitcoin able to do r&d to me should hire experts and refine before scale up also to sell shares before profitable seems shady at least as a entrepreneur I would never do that as any business I create I put all into and to me my money should stay in the company until at least profitable. If I take investors money I want to give there investment back before I take profits.
Well said! 🤝
What he’s done before ( jobs) isn’t the issue / but selling shares for his benefit to cash out is.. 😮
"From now on, any influencer or writer that publishes misleading info or outright lies about
@boxabl
will see us in court. I’m done being nice. Think carefully before you pick the fight. Not going to standby and let people damage our investors, customers, and mission so they can hijack our viral success for views and clout."
I’ve been in the construction industry all my life and a general contractor I think this company has huge potential. The idea of having one of these delivered after I have the foundation and other things needed would be a tremendous help and I think I could build a very nice business around their product.
They don't though. They still haven't built homes that meet code. Everything they do has been red tagged. This dude just lied in the first few minutes.
I built my own fully solar-powered completely off-grid tiny home on wheels out of a highly insulated refrigerated truck box with all the amenities of home for under 10k.. including 12-volt air conditioning and heat, recirculating shower with filtration and UV, 65-inch TV with internet, convertible couch/bed, running water, microwave, convection oven, air fryer, coffee maker, compressor refrigerator/freezer, oh and PS4! 😂 Ben off-grid now for almost four months with no bills absolutely loving it!! Ultimate freedom on the cheap!!
that sounds awesome, make a video about it! In 2008 I converted a 26ft box truck into a mobile photography showroom for my motorsports photography business. I decided not to go with a refrigerated truck and instead insulated it with 1 inch foam board, put three 13.5k RV A/Cs on the roof and frame mounted a 10k Onan diesel gen that tapped into truck's fuel tank. When I no longer needed it mobile, I just popped the box off and it's on the ground now, hardwired into power. That rig has made me and the new owner of the business a lot of money and it's still in use today. Those truck bodies are very durable.
@@bossturbo that's awesome your build sounds great!! I agree these commercial truck boxes are built to a better standard than most.. the refrigerated truck box is definitely heavy just the box was about five thousand pounds but that's the route I chose on a heavy duty trailer just for the efficiency, walls ceiling and floor are 4 in thick spray foam.. to be fully solar-powered with AC and heat when it's 30-120 degrees in Az .. I'm not much of a TH-camr OR tech savvy but perhaps when I'm completely finished with the build I'll make some videos explaining the systems I used.. Thanks man!
That will all change when you get a girlfriend or boyfriend I don’t want to insult anyone one lol. Jk actually it will be a good way to know if a girl or guy loves you for you.
@@dalebruno5201 well, I suppose I agree.. lol. I'm Single by choice, have had many good long relationships over and done with all that. Governments weaponized the dollar and women have weaponized love😂 But I suppose if I meet someone I connect with living the lifestyle I am, you're right they must love me for me! 🤣
@@danielkurek7009 I’m glad you knew I was just fooling with you. Well look being able to build a refrigeration truck into a cute little living pad means two things that women love the most a man that can fix shit and money that you will have by saving on a housing expenses. So your good bro.
One more thing I saw on AIRBNB people pay good money man to experience living off the grid if your place is up to par I bet you could actually make a Phucking killing
Making an Expose video by visiting the actual people and makers and talking with them is PEAK research! Good Job.
Savage haha
... except that he was promoting them at the time....
I'm not hating; it's nice that he's publicly reversing on that stance, but let's not call a duck a swan.
Thank you for saving my money. It’s looking like Astra, Nikola.etc built a building make it public, pay advertising and take the money from people. Scam like this should be hunted by proper authorities!
@@edelsmurf Idk he made a video prior to them letting him walk through where he gave his opinions. Maybe they shoulda been course members lol
Hopefully they go bankrupt and Kevin can buy the assets and add it to his ETF.
Just finished converting a shed to a tiny house...had to add electrical, driveway, plumbing, everything...cost about $70,000.00 all in. Bought the Shed 2nd hand($12,000 on FM) and that saved money. Going to make into an airbnb rental. We paid a contractor to do everything. In rural Missouri.
That’s great. Can you share more info on yours?
@A.J. 12x24
@@silverowlthrifter I built a 12X24 ADU from scratch with footings, electric and plumbing with one worker helping me for $10K
@@phillyvoodoo $35-$50 per square foot is more like it. I purchased a few modular homes back in 2007 from a manufacturer in Pennsylvania. Two were 2200 s.f. and the 3rd was 4,000 s.f. and I paid less than $55 per s.f. (house only)
Can't do that in California unfortunately
as soon as the owner said he had a marijuana farm and a bitcoin mining business before the boxable business, I know 100% this one is going broke in the near future
I've sold 500+ homes, probably been in thousands and been through hundreds of inpsections both new and old. The amount of knowledge Kevin has about construction is absolutely mind blowing. I know real estate and I feel stupid listening to him talk real estate.. lol GG Kevin. Awesome video.
Have you ever been in a 3D printed home or seen how one is built
My family has built hundreds of homes. This man's contribution to the company is NOT worth 400k per year currently (or maybe ever). This guy is delusional and I wouldn't want anything to do with him or a company that he runs.
Although I don't see eye-to-eye with everything that @MeetKevin says, I have to say that his questions were really good and proved my concerns in Boxabl. You can see throughout the video that the guy was uncomfortable with Kevin's questions. Alas, their recent Crowdfund round was huge again...
If Kevin can do more of these interviews with startup companies related to real estate, or others that he is interested, Kevin will attract a lot more people.
@@MrSomsoc what business owner doesn't like to talk about projections? He also didn't understand the value question about what a million dollar investment was the equivalent in terms of value in the company.
Sometimes you just have to realize: you're just not that smart.
This factory will fail. Another example why a kid with no hands on experience should never be in charge of a big operation. Something smells very fishy. Where there is smoke there usually is fire.
I found the founder very honest and genuine. The company is massively over valued, but this is not uncommon for companies of this nature. Wrights law will take hold the more they ramp up production. Once they are at scale, it may be hard to take market share from them. Like i said, way over valued at this stage, i expect this to normalise over next year or so. I am happy to watch and wait for their margins to show a stable path to profit and then think about investing.
That’s my opinion as well. It is a classic speculative play so I did invest a tiny bit on the off chance it is a homerun.
Well hopefully the pot farmer crypto guy with no home building experience can greatly raise the value of boxabl above the current 3 billion then
They have no interest in scaling production or delivering homes. This is why they focus more on fundraising then manufacturing.
Sadly I give them about 12 months before they disappear with everyone’s money
Agreed. The only crime here is the $3 billion valuation (and citing TAM as a reason for it). Other than that, what they are doing is legitimate. They are just way further behind than they are letting on with regards to certifications, permits, etc, despite the millions spent on machinery/salary/etc. That's what happens when you go viral super early on and then have to play catch-up to execute.
They’re square mobile homes I don’t get what the innovation is.
I love that Boxabl bought ad space just to criticize Meet Kevin.
It will never be 'approved' by Cities until they get their cut!
They should take it to Washington and expose them, they claim they want affordable housing but they won’t change the zoning code
A $3 billion home builder with $5 million in manufacturing equipment really tells the whole story
Just listening to the guy tells the whole story lol
Anything Elon promotes becomes at least ten times overvalued from Elon Stans around the globe jumping on it.
They also have $80 million in cash. So a grand total of 2.83% of their $3 billion is manufacturing equipment and cash...
Jesus 5 million in equipment means they have a bunch of shovels,hammers a nail gun or two and maybe some helmets.
He had me at former weed farmer.
i dont think it was cool to say any negative comments about the co founders BEfore showing us the tour as it skews the bias of how we may feel about the tour ourselves.... otherwise good video
If you watch the full video The main red flag is valuation. There has never been a private company that hasn't sold shares at a value far ahead of where they are actually at. Investing in private companies is about investing in a vision and execution of the management. Boxabl management has achieved quite a lot in the last couple years. I'm invested in many private companies and these guys are actually taking quite a small salary and getting a lot done.
The management consist of ex convicts and lawsuits and scammers.
As soon as he said marijuana farm and bitcoin exchange, you can tell he does not give a half shit for this company, he's in it for the money, as soon as the money disappears, he's gonna disappear and start a new start-up. What a scam!
50:40 at this moment Kevin knew, this company is a money eating pile of garbage
Kevin, thank you for “exposing” Boxabl. I watched the entire 2 hour video and the co-founder provided a great tour and interview. He was transparent on the good and challenges they have, humble and polite despite the CONSTANT interruptions while he was answering questions and providing information.
I think people are blinded by the past regarding real estate and not looking at what is being pushed fir the future of real estate. The gov’t WANTS people to live in tight communities. In some areas the cities are encouraging this type of housing. That means there is an even larger push coming for this type of housing. Another piece of proof is the fact that the co-founder mentioned they RECEIVED GOVERNMENT FUNDING! They are being encouraged and incentivized by the gov’t. I see a future with this company, and others like it.
This was not a factory tour. This was a cruel interrogation by a bunch of financial goblins with no soul.
I REALLY hope these guys can get their crap together and make good cheap, pop up homes
I listened to the whole interview and the guy has no idea what he is doing.
they can just recycle all the boxes in China from all those covid lockdowns.
These are just pre-fab modular homes. Euro does it. The humor is the cost is same per square foot. It's just a cool little thing for early adopters or tiny home people
I need one. I hope they can offer me one by 2024. I will pay with cash.
They are taking millions of dollars from investors, but haven’t been able to deliver 1 of their houses. What were they doing all these years? It smells fishy.
I first heard about Boxabl through an ad to invest in it and when I looked into it, found out about how they'd shipped to SpaceX. I was interested as an investor, so I did the math and immediately wondered how they were planning on raising any money with that level of dilution, so I'm surprised to hear they've raised over $140mm. I feel like this is another WeWork scenario unfolding.
I saw Graham's video from a month ago about the company and his summarization of it. Seeing this full breakdown is truly awesome and it's a shame Boxabl is the way it currently is. Hopefully they don't become another company that promises more than they realize from the get go
Didn't you watch the video? This company is making houses out of foam and drywall mud laminated with plastic! The building quality is horrible. These things would last maybe 5 years, and to repair them you would use glue as everything is about as sturdy as glue. They expect poor people to get a mortgage for this 5 year time bomb.
You are witnessing the next WeWork. This guy went from Bitcoin to Marijuana to mobile homes. Reminds me of a guy like Adam.
It's too late, this company is circling the drain
The country, actually the world, needs affordable housing. I had high hopes for Boxabl. The only way this works is if manufacturing exists in multiple states to reduce transportation costs and local talent for labor. The other challenge is permits and licensing within communities. Until these issues get worked out or the country experiences a real depression, the real growth sadly won't happen. Dream that the people living in shelters and on the streets are able to work and afford the American dream of home ownership. Something safe, affordable, and provides opportunity !
I’m in Vegas and had the opportunity to speak to the ceo he claims they wanna get into Texas next
They want to create a franchise model and have sites everywhere, all over the world.
Best to 'Have' high hopes. vs 'Had'. As an American. We don't give up.
Boxabl damage control department!
Yeah they could even manufacture them onsite or do hundreds of them at the same time on a larger piece of land…
I’ve talked to people at their company including the founders they don’t know what they’re doing.
Isn't all companies don't know what they're doing in the beginning?
@@themattrixrevolution not even remotely, not at this size. A company that can raise a significant amount of money from investors are able to do so because they’re entrusted to drive the business forward. It’s different than when one or two people file an LLC and try to start something.
Yup, reason why I haven't invested in them since I saw their first raise. Same thing with JetToken.
@@business-advice-that-works That's true in theory. But not necessarily true in real life. I would argue most of the startups in the past 10 yrs, don't know what there doing. Since many haven't turned a profit yet.
@@brandonburns5365 I definitely agree with you. That in theory it should be that way, but it’s not how that world works. That’s why start-ups are so risky
I love Kevin and follow him religiously. But this guy seems like he knows what hes talking about. And basically saying they had a concept it took steam and ran into more road blocks then what they thought they would run into. He obviously has to be still politcal when taking on so much investor capital he cant be totally transparent when he knows its going on youtube. I actually believe in this concept more now after watching this video. And I was expecting them to be a flop hahah Thanks kevin as always for the value!
I will say. Taking a huge salary (by most people’s standards) AND selling $5mil worth of shares at such an early stage is a big red flag to me. I get hedging your odds, but that money basically was directly transferred from investors to his pocket, which I’m not a fan of. Although this sort of thing isn’t uncommon in corporate culture in America unfortunately
I bought an abandoned house and tore it down hoping that in a couple years I could replace it with a Boxabl. You could easily rent out a $50,000 house for $500 a month which would be affordable and profitable.
But it's looking more like I'm going to have to build a standard house which is fine. I can still meet my target rental price point but it's going to take longer to get the funds to do it.
The problems they're having with permits is probably more related to entrenched interests. It takes time to change laws. They also need to cut the minimum lot size for these to really make sense. If I could split my lot in two with 0.05 acres each, it would double the available affordable housing. 0.1 acres is really excessive for such a small home.
It is going to cost you closer to $120K, not $50K.......
Boxbl seems extremely sus. They seem to care more about Marketing their products rather than speeding up the operations. Nikola vibes to me
Exactly! If I understand right this company spread the rumor that Elon Musk lives in one of their casitas, long before Elon Musk even heard of them. They have many TH-camrs make videos of boxabl. For me not a serious marketing strategy. And I wouldn’t be surprised if the entire company is not that serious (scammers ?).
This really does sound like a great company that just needs time. They know they have the market, now its time to first get the process streamline so when they truly launch to the day to day people like us. It’ll take weeks even a month or 2 to get our product. Not years like other companies we know. That’s my input on this.
Imagine what someone could do if they took a mobile home that was rectangle and made it square. It could be a huge idea.
They have sold hundreds of these houses, but haven’t delivered not 1 of them. They got millions of dollars from investors years ago, and nothing is happening. There are cheaper tiny houses you can buy.
@@SN-bl6xm They delivered hundreds of homes and built over 400 homes.
@@rickybobby7276 The rectangle to square part opens up cheap international shipment via container shipping and intercontinental shipment via trains and trucks. Huge.
@@radiofreealbemuth8540 So from the 160’000 homes they have sold, they delivered 400 of them?
Tough road ahead. Hope they have the resilience to get through it
The CNC machine I would recommend is C.R. Onsrud. They got some serious speed. Originally wood working equipment but they can do other things as well. Better to upgrade the spindle though for metal work.
They received $150 M from investors. A $3 B valuation ( $3,000 M) means dilution is $3,000 M /$150 M= 20 so the cash from $1M invested is worth $1M/20 = $50,000, not $318. Kevin's math error is that he treated a $1M investment as if that was the *only* cash they received. A 20x dilution factor is more inline with the "typical" example he gave which was 10x dilution.
You are right!
Thank you very much for pointing out that the Boxabl Casita is a Park Model RV and is not certified as a modular home anywhere in the U.S.
Did anyone else get the ad of the founder saying the video is misleading?
Kevin can certainly make TH-cam videos, but he is obviously never built a real operating business. This is a completely unfair assessment of where boxable currently is in the lifecycle of their business. Yes, the company is massively over valued at the current offering. But to have some expectation that they would not be constantly improving their product is crazy. This would be like Kevin criticizing Elon musk 10 years ago when he was iterating and figuring out how to build an electric car. Tesla is still improving their product and pricing… Does that mean they will be a failure and “never deliver an actual product?” give me a break Kevin, this is a poor attempt at Clickbait.
Nicely stated!
Yeah! Kevin can make a video but he will never built not even one single casita 🏠 himself!
"[...]Elon musk 10 years ago when he was iterating and figuring out how to build an electric car" BUHAHAHAHAHA Musk didn't built anything but his ego.
The key to the cost of these buildings is cheap rigid foam material for the walls/structure not factory style construction. Same home could be built on site for less. The whole folding concept is garbage imo.
Great work Kevin. Was about to send 25k to them last year until I read their prospective. Then they kept reminding me to send in the money. So glad I didn’t.
More research David. I’m going to keep my eyes on this one. If they can get the permitting, & get real serious about its valuation I’d invest.
@@cherylkendrick6798 management seems shady. Even if they do get successful, too easy to copy and undercut them.
I still have very high hopes for this company. Sure the beginning stages are going to be a bit rocky with many obstacles to overcome but the product is a game changer none the less. I believe they will iron these kinks out in due time and Boxabl will have a firm foot in the future of transforming the global perspective of affordable housing. I also love how the owners didn’t dodge any of the questions. They answered with integrity and transparency. I expect this company to be a complete powerhouse in 2 or 3 years. They know what they’re facing and have a clear direction of what needs to be done to reach their goal. I’m excited to watch their growth. They’re starting to garner a lot of attention and mostly for the right reasons. Kudos to them.
Kevin don't like competition !!!!he must sell his b s overpriced real estate . I hope Elon Musk sue him !
@@truthmatter8661you know I was wondering why did they need to be exposed anyways. He seemed to have answered all the questions truthfully. Didn’t know they were going to be more of an RV but people will still need them in the near future it appears.
This was an interesting tour. It sounds like they are still working things out, so not surprised at some of the things that came out. I saw this a while ago and really liked the concept of it. I'm interested to see how they progress as a company.
Time is already up for them, interest is rising.
Wow they really looks like those jail cellls used to lockdown people in China.
No one is working. Everything is once we do this once we do that. Wtf. Daddy and son are cashing out investment money of people and are not putting time in the business.
The simplest thing will play with the unaware. In our area anything over 120Sqr Ft. Must be on a Foundation. Lots of sheds get into trouble let alone mini-homes. Permits in many areas are horrid over the smallest items.
Seemed sus to me when the advertising said to put down $$$ but no one seemed to actually have one to live in…. Sus
if they ever scale up to 500 units per year, they will fullfill Unit # 100,000 in 200 years. Sad 😭
Thanks for making this video. This company is always accepting investments, but can't seem to deliver a product. Classic fraud.
Affordable housing in California STARTS with a change in regulation, permitting, and changes with utility company process for service changes. Without those changes ‘affordable housing” is lip service.
As long as this rogue government is in power, nobody will be permitted to build and live in small affordable homes because their agenda is to have everyone live in their 15 minute cities without a gas powered car and paying rent to companies like Blackrock.
There was no way I was going to put money into this years ago when I got on the waitlist but this is so much worse than I could have imagined. These guys clearly don’t have the drive and don’t believe in the future of their own product. I doubt they will deliver to private homeowners within 5 years, and likely never.
They also have no experience in homebuilding or architecture. Pot farmer and crypto mining. He said it in the interview he goes after trends.
I just dont understand the valuation. I get what they are attempting to do, but it seems so far off it terms of execution. I remember learning about the patents and that round of investing that went before the current one. Any one who got in during that time is currently sitting at about 10x gain already.
@@eric1565 if they were serious they would have a large r&d team, not just the founders watching TH-cam videos for ideas. They have only notional intentions to scale up, but no legitimate plan to do so. They need 10x production capability like yesterday and it doesn’t look like it’s coming anytime soon. So those few hundred/year they produce should deplete their current backlog in….?
@@eric1565 But this company exists since 6 years and they only produced 400 casitas last year. Many people made down payments for such a casita years ago and they still haven’t gotten their casita. Many customers asking to get their money back.
I hope you at least gave them a chance to rebutt your findings after you researched their public records
BOXABL is totally disorganized, not worth the risk
Sick "Step Brothers" reference! It's what gives us "room for activities".... 😂🤣😂🤣😭😭
Those guys following around look like lawyers.😂 the comment about “where is everybody, is it lunch time?” That was funny.
Anyone else get a boxable ad before this vid?
Kevin seen right through the financials, the Boxabl ad in the middle of the video bashing Kevin was hilarious
No rebuttal from Boxabl in their “ad” Just accusing Kevin of false info but not one example given…. Hmmmm 🧐 Odd, no?!
Funny too cause I’d guess they’re paying for that ad! 😉
I haven't seen anything about the cost of land, permitting, how does water and electric power actually get into the boxes? Apparently you can stack them upwards, side by side. By the time you had one large enough for actual living, it would exceed the cost of a regular house.
These tiny homes are all scams. Most places you have to put them on a trailer park style area. That charges huge rent costs.
So these boxabl casitas have the permission as RV’s, not houses. Then you need to build a basement, get water, suer, electricity, ect. That alone will cost you something between 40k and 100k plus the costs of 60k + for this boxabl casita plus the costs for the land and that could be 200k +.
CEO definitely seems suspect. I’m smelling incompetence.
Without a doubt! He’s a cannabis farmer. He knows nothing about building houses on a mass scale.. let the real builders take over..
By selling shares without previously announced sales to be approved by the board. It is like taking investors monies straight out of the bank., money that the company doesn't have, really. The SEC should open an investigation into "Boxabl" before they are able--"abl" to reap off more people.
Is it possible they hold the patents in a separate LLC in case Boxable goes broke and then the founders can go start a 2nd time around?
Patents for stupid ideas are stupid no matter how many times you try them.
I think that's the concerning part from an investment standpoint. If you are investing in the idea of the company, it's good that the company can sell that idea to pay back investors. If someone else owns the idea, then what are you really investing in?
The short term goal was 416 homes completed in 2023. How did it go with these? I couldn't find any news about delivered and completed Casitas.
Wow😳 such a disappointment, they were so misleading 🤔 wondering if they'll be facing any lawsuits in the future 🧐
Did anyone notice he said they have 60 patent filing so basically it’s a request so there is a chance there are others who are doing this already and they are the first movers. Kind of scary
I think the founder was honest and the company is impressive with really ambitious plan. I don’t have an issue with the 3 founders making roughly $400k in salary and selling some of their company for personal profit. It’s clear that they are innovating and operating. I don’t think it’s a fraud, though the valuation is crazy based on current operations. And I think the owner saying it’s an all or nothing investment is surely honest and forthcoming. Am I investing, no, but am I interested, yes.
Did anyone see the Box able ads.
I like the founder , he is very open... He is very likable.
I got the prospectus when Boxabl was just starting to expand. In reading the materials it became apparent that the incestuous relationship of the founders/management at least provided the opportunity for fraud or at least a lesser version of such. It seemed very high risk even though it was advertised as 'solid as a rock'.
Putting the financial viability of the company aside for the moment, I think they are some major issues that seem to be insurmountable. Houses live in Mother Nature and are exposed to the environment 24/7 , wet, dry, hot, cold. I haven’t seen any significant real world testing. It seems they went straight from prototype to taking orders and production. They are already talking about version 2.0 and they haven’t delivered significant units in version 1.0. Many products don’t survive first contact with real customers. I hope customers who put down deposits don’t get burned.
Being a Boxabl shareholder, when I listened to Kevin's opening comment, I felt like I had made a poor investment. After watching the entire video, I feel I've made a good investment. It was also great to see the factory and hear the Gen 2 ideas.
Galiano is a down to earth, transparent person. I like him every time I hear him speak. Kevin asked some hard & personal questions, and Galiano answered them all without hesitation.
Good luck to Boxabl, we need this type housing! NOW.
This is very outdated. This is not a public company. Shares can’t be sold. Start ups sell different kinds of shares to different kinds of investors. All start ups do that. Investors gamble on the future value of the stock. They know it.
I don't know. I think these guys are doing the best they can with what they have. Not every CEO is an Elon Musk. I think the guy being interviewed is pretty sharp. Kevin is awesome but sometimes he's a little too hard on others trying to make it. Kevin has detractors too and some of what they say is true. I think these guys are where Tesla was in the very early days. Totally different product and processes but give them a chance. Clearly he's passionate about what they do. He's not Elon and doesn't share his vision for saving the planet but what they are doing is so needed. Give them a chance, let them figure it out. I hope they do because I would love to put some of these on my properties.
Kevin, I think you are likely correct, they have a few years to go. They will need to build a whole community before it really starts to take off. Meanwhile the valuations are extreme, it's all based on potential. But I'm still hopefull that they can churn out 2 bedroom, 2 bath homes at 100k base model with services and the slab, all in. We gotta do something to give Gen Z and retirees a fighting chance as this nation grows. Not everyone can afford a 350k stick and timber 2 bedroom home and there will be fewer and fewer if we don't create more viable jobs.
The company ticket symbol is “trust me bro”
I wouldn’t let the dude borrow $20 bucks
This is ridiculous. Why don't they just build mudbrick houses? Is cheap, and archeologists keep finding these homes still standing...
Haha!
Because this is the United States not Guatemala.
First Marijuana, Bitcoin, now I’m working on this tiny house scam 😂
Lol that was the vibe I got.
I caught that lmao.. As soon as he gave that rundown I said "Aaaww shhh**t!" Hustle hard! lol
I love the company it’s different and brings great value
As soon as Kevin said they buy parts from China. Those houses certianly looks like those jail cells used to lockdown people in China. And actually China has tons of those useless boxes now.
Id rather them sell their own shares to get money than increase their salaries
They did. Kevin didn’t mention it (or maybe didn’t know) but in their most recent filing on a Canadian fundraising platform Frontfundr they disclosed they (the founders) doubled their salaries from 400k to 800k in addition to dumping 5m worth of shares each in a company that is not profitable. This is so so so so sus.
I have found my love for Kevin's videos again.
Thanks Kev, super job w this one!!!!!
They've been talking about ramping up and having lots of orders for a few years now but another influencer visits the factory and there's still nothing happening there. Weird huh
This company exists since 6 years. And I have just read a month ago that many of their clients are asking for their money back. They made down payments for such a casita years ago and have never gotten it delivered. Customers also say the communication is bad. What I have realized is that this company has 3 owners who are also the CEO, CFO, CIO, head of marketing, head of sales, ect. So basically they have no employees. This is so fishy!
🤔
Kevin said that the owner sold shares for funding himself but is kind what Kevin did with the money raised. The first thing he bought was a plane
for real, did kevin buy a plane with the money that he got from dumping his company shares? damm what a hypocrite
Not exactly dumping shares. He is raising money for the househack, and all sudden he bought a plane that he will need to go in different places to buy houses for the company. Just I think is to early for that. The company isn’t even buying houses yet, is in the beginning and his first thing is to buy a plane.
Not a dime of HouseHack money went into the plane. This has been proven time and time again.
Good work Kevin ur intellect and honesty is inspiring. You asked all the right questions.
Besides the fact that this guy is a total bro and his company is absurdly overvalued right now, they may be on to something. If they can get costs down and can sell 5-10000 units a year they could probably turn a profit in 5-7 years if they get to 25k units a year they could be a powerhouse. I wouldn’t buy at that valuation by any means, but the concept is compelling.
The problem is that these boxabl houses are not approved as houses, only approved as RV’s. Then you do need a basement, water, suer, electric, ect. These boxabl houses will end up being quite expensive. And it seems this company has sold hundreds of these houses in the last few years, but haven’t delivered 1 of them. 🤔
Another great expose documentary. But for many of us who are have built ADUs in states with building and zoning codes, it was obvious from day 1 that boxable was little more than a tiny home on wheels (without the wheels). In other words, it always has been obvious that they would not get permits. If I were mot busy, I would change state law to allow for statewide certification of Boxabl ADUs, meaning that units built to the statewide standard would be permittable by right throughout the state. More importantly, @meetkevin, ADUs need to be built to a yet to ve established standard that allows them to be "separable" (sold separately to the main unit). This would produce a landslide of small scale distributed residential development, and entire generations of young adults would once again be able to own a piece of the American dream. The dream will be in hibernation until states impose mandates to eliminate the strangle hold that cities impose on new RESIDENTIAL housing that people want.
Why is it obvious? What requirements will the Boxabl Casita fail to comply with?
That's huge difference between real property and personal property. Banks are not going to finance personal property at real property interest rates.
Pot farmer and Bitcoin exchange. Dang it. I had high hopes too.
😂😂😂😂😂 right
Right! Just scammy
The content is incredible well thought out, the intro is great, the tour is one of a kind with actual useable info, the interview is probably the first time they have been this transparent, the title, well please change the title, its a little much to call it what it is when everyone else thinks they are the darlings of modular housing. Great work, thank you!
Wow I hate Wall Street. Valued at $3billion with 2 customers last year
Appreciated this interview. (Small investor, future customer.) Thanks Kevin and Galiano!
building housing on site produces a lot of waste. hopefully someone can make these pre-built houses.
This video was long overdue. I've been following boxabl since the very very beginning. I was going to invest when it was open to all investors, but after looking through their documentation, and how the investment was going to work, it made me pause and reconsider. I'm no expert, but it sounded to me like there was no benefit for me to invest. Therefore, it was a no from me.
Scared to watch this because I own some shares in boxabl and even messaged you about them ahead of your interview a couple of years ago (with a reply). Let’s see how this goes haha
@A.J. haha I don’t love the patent being owned by a third party with 1% of revenue going to it but otherwise I am about where I was. No surprise that states are giving them hell because that’s their job but if they end up receiving modular approval then I’d still be a buyer when prices come down. 3 billion is definitely a forward vision valuation but that’s what humans do…to say their value is 157x revenue is ridiculous because they aren’t even truly live yet. I’m fine with my position which was at an earlier valuation and if they pull this off 500 billion is there n the cards. How far out are we all wiling to look?
I almost invested in this company 2 years ago. After exchanging some emails with one of the owners, I got a bad feeling and didn’t invest.
@@eric1565 Why don’t you invest all your wealth into Boxabl? Good luck with it!
@@eric1565 Well, I am clever enough that I don’t invest in just one way! But maybe you didn’t understand my last statement was a joke, after you trying to convince me I’m loosing something not investing into boxabl.
Really? Modular, panel homes somehow new? Cost per sqft including transportation and installation/buildout is???
Boxabl just gave all of their employees, 100k in shares, they have more than 140 employees, what the hell
Buckminister Fuller tried to fix housing issues too, and he met much resistance. It’s almost like most people do not want to fix housing problems.
Anyone else get a boxable add while watching this video with one of the owners saying not to listen to meetkevin? 🤣
Queen playing in the background “Another one bites the dust”.
How can you build one house for the whole world let alone the US?
The way this is progressing, I believe some Chinese company will beat them to the punch.
Figuring out a home is NOT ROCKET SCIENCE
boxable really ran a AD on this video as a warning before you watch he video is crazy. I wonder how much they are paying for the ppc
There's an ad calling this video a big lie, and then it cuts right back to him talking....
Irony 😅
Pro tip: If you are going to make a video to defend your credibility, don't be stoned
Lol didnt spot that but its probably true
Foam and insulation wall as foam doesn’t stop noise
Kevin, its slightly misleading that your company is valued at Cash. I went through the website and it says in the event of an exit, you and others might get options. Its not clear what is the value of those options. In theory that could lead to a similar situation as a company that is selling shares similar to any other start up.
I have no problem with a founder or others retaining more than their cash investment but your claim is misleading, which I think you should make clear or atleast make clear everytime you make a statement about this. In all likelihood, given that this investment is illiquid, your deal might actually be the same as any other start up as such.
You just need to provide how much payout you and others might get from the exit.
Anyone else get the ad of the boxable guy during the video 🤣🤣 Bought targeted ad space to refute claims by Kevin
Comparing these basic looking manufactured homes in price to a on site built model is not fair. I bet you can get a nice unit from a local manufactured home that is the same price...and guess what...it supports the local economy unlike this corporate trash.
$3 billion valuation for a business that produces 8 houes a week - at a loss. That's crazy!!
They were super nice to you, so you call them a fraud and "expose them" tf
Kevin will in a way, sort of be competing with them. There was some biased information.
Well if the data checks out, they sound super bad
It's not profitable because the demand isn't there. Cities won't allow these houses. I seen a guy who build homes for homeless, they're torn down in a week since homeless must be homeless and people don't like to have people living next to them.
@@robertagren9360 that’s not on Boxabl that’s on corrupt officials with antiquated zoning laws though
wtf if a fraudster is being nice, they're suddenly no longer a fraudster?
2:20 woah, that is damning. Literally anything can be registered as an RV that means absolutely nothing to anyone wanting to develop any land using Boxabl