Inside the Collapse of Artesian Builds: From $20,000,000 to Bankrupt

This story no joke left me like this ... 🤯🤯

That’s California for ya.

I hope everyone involved in the fraud has an unfortunate submarine incident.

how can RMA cases be fall into the insolvency mass?

I'm not the smartest guy in the room, but building a PC is NOT hard. Do it yourself, it's fun and saves money.

This is the issue with personal and company being separate entities. The personal can absolutely make millions by screwing over the company and not be liable for it.
Happens all the time in the UK. A multi-company group entity, all assets and debtors are slowly shifted to "one" company. All creditors are slowly shifted to "another" company. "Another" company suddenly goes bankrupt, and "one" company is now millions in the profit.

In the end, the CEO turned out to be a massive loser.

All I get out of this is that Biggie was right East Coast > West Coast. End of story.

"Noah Katz"

@SteveBurke Please RECAP where "Noah" went? What he's scamming now, and how Phynix "folks" are doing now?

I wonder what happened with this since last year. Would love an update.

Linus Vibes

I’m always amazed how pc building businesses survive, for doing something so easy that pretty much anyone can do themselves. No proprietary technology, just put stuffs together.

95% of businesses in every sector have some scam at their heart. We could focus on that, but the scams business that are still in the black have no motivation to do that and certainly don't want you to be interested in it. It's just how the world works, and it will continue to work that way regardless of how we feel about it. The only rational response to to not care and to expect everyone is on the take, all the time. That's a fair heuristic. You pays your money, you takes your chances.

He looked like a fat Linus.

Your investigated journalism product teardown of prebuilts is useful for us the customer, so that we get value for money ,keep up the good work sir

Auctioning paid PCs that are in for repair would be illegal where I live.
It would be the same as bringing your car to repair and then (no matter who does it) it gets sold or auctioned. The person who bought it remains the buyer and it is their property.
They would either get it back after the auction from the buyer and file a "Anzeige" with police who is then going to retrieve the stolen good. Cause from a point of rights for the consumer this is stealing.

don't use paypal

I got an Artesian builds PC. Ordered it in November 2020 and I still use it and it runs well for me with a GTX 2060. They even helped with a repair/upgrade in April 2021.

Sucks to see the downfall of this company especially for those employees but the CEO truly was a douche bag

i realy like these docs but can u in the future put your own comentayr text somwhere where it dosnt ovlerlapp with yt subtitles not an native english speaker would help me a lot Tanks for the great content Steve

Considering the founder didn't know that artesian isn't related to art, it should have been obvious from the start that the company was fucked.

It's weird that there's a cross-section of people who are smart enough to get a million-dollar business off the ground - but too stupid to understand that social media isn't real.

How was it legal, for them to auction people's personal property in for repairs?

Think my favorite part of this situation is that the ex CEO is practically panicking by selling assets, withdrawing money and then making fraud claims that aren't fraud and this guy thinks that he can get away with it. He has to move to another country if he wants to get away and even then he has to hide his name, face and future investments just to get away from all this.

I massively disagree that its acceptable to buy GPUs from employees. Customers paid for a new computer and that includes the GPU. Dont ship used components unless thats specified in advance, that's bullshit

the biggest sin of all is calling themselves 'artesian'

Whow is that possible that PC's from their clients, already bought and paid for, sent back to them for repair, can be now integrated in their stock to be auctioned on the bankruptcy proceedings!!?

Always use your credit card for online purchases

I can see them selling off unsold inventory to recoup costs but I don't think they can legally sell someone else's property. The PCs there for repairs and anything someone bought but hadn't been delivered is the property of the buyer and not the company.

Any chance the east coast guys started their own shop? Their stuff looked good to me

Ain't a mystery, everything gets sold, business debt gets taken care of first, people waiting on builds never. How bankruptcy works, nothing shady here.

When I was still part of the admin team for sffpc we worked with artesian because we wanted to support user grown businesses. But out of every company we interacted with artesian was probably the worst. Second place being the winter company. The two guys were really snooty cringe and elitist. We avoided future partnerships as much as we could.

The RMAs being auctioned feels very illegal, that's not the company's property. That's like your mechanic going under halfway through fixing your car, and just selling it

Steve my man is about it … i found gamers nexus as a 27 year old veteran trying to get into tech ( cyber security ) after getting drunk playing cyberpunk and realizing i didnt wanna go to nursing school … i legit was browsing looking at building a arcade cabnet lol then this long haired metal rocking stud appeared ! Cheers man!

We can't pay anyone please invest in company right now do it tonight u got cashapp????

Did those employees and PC sellers ever get their money back

The build/order process you describe can be summed up with 2 words: Ponzi Scheme.

That is not Tyrannosaurus its a Triceratops skull. Stay in school kids.

Typically that is exactly what happens businesses trying to scam or mislead consumers threaten to sue when it is them who should be investigated and sued/fined and eliminated from scamming consumers.

So this is what would happen to Elon if he didnt have daddy's emeral mine's money

Katz

Narcissism, narcissism..

REASON No.3477 to stay far far away from PayPal. Very far far.😊

I want that shirt

Absolutely not surprised to hear the west coast branch was way less efficient considering Katz was always there.

This channel is doomed and i cant wait to find out how much of a creep steve is

Your gonna regret this when its your turn 😂

Did you help bring this company top because your a lefty and you just believe eachother

Elocution, please.