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Peak Skis Investment opportunity

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Wasatchman

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@dovski i am surprised they have raised this much money and so fast. The "investors" are at least getting a vest out of it for a thousand bucks.

When I reached out to Phil and Tricia about a semi private ski day with them if I recall correctly they were only going to charge me $5,000 since I am already a valued member of the SkiTalk community lol. But don't quote me on that. My memory is a bit fuzzy. That seems like a better deal than the $100k for Bode though.
 
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HardDaysNight

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so either way there is still a lot of dumb money going into this.
Based on G and A expenses of almost $3.9
million over the past year there is a strong probability that a substantial cut of that dumb money will be flowing directly into the pockets of the founders/senior executives. I’d be happy to sell the company my old truck for $53k but (damn) Wirth has already done that deal.
 
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Wasatchman

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Based on G and A expenses of almost $3.9
million over the past year there is a strong probability that a substantial cut of that dumb money will be flowing directly into the pockets of the founders/senior executives. I’d be happy to sell the company my old truck for $53k but (damn) Wirth has already done that deal.
One can only imagine where the G&A spending is going. It's already questionable to provide company cars for this startup but then the self dealing of selling your truck to the company you intend to continue to use takes the cake.

@dovski it isn't the mere fact they are getting company cars but it's also the self dealing involved with it which is a red flag.
 

Tricia

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How much for moderator privileges? There's been a thread or two I would have enjoyed locking.
And perhaps a few people you'd like to ban?
 

MikeHunt

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Definitely get rid of the tracking links :duck:

OK, let's call the 2026/2027 season a reasonable goal post.

I have you down as Peak - downthumb; Sporten/Kastle ? ; Renoun ? ; Original + ?

I'm telling you guys, Saudis. They will solve all their problems.

Hey Cyrus, Bode, Sigi, and Tomas, if you're reading this just consolidate into one company and get the Saudis to invest in it.

I can already read the copy/pitch.

"Combining the synergies of 4 of the most agile and innovative ski companies in the world, Kastle, Renoun, Original Plus and Peak, this new ski company, K-ROPP, will disrupt the ski industry like never before"

"K-ROPP skis are unlike anything in the industry. A ski with Hollowtech, Keyhole, and VibeStop. Your own ski configured uniquely using Origo Artificial Intelligence. <Insert something about crypto here>. K-ROPP skis will revolutionize the ski industry again. Again."

"K-ROPP by Bode Miller Mohammed bin Salman. Demo it exclusively at Trojena ski resort in Neom in 2030."

"K-ROPP is the exclusive partner and sponsor of the Asian Winter Games at Trojena Ski Resort in 2029."
 
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Wade

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That may be true, but I doubt we're going to see a lot of "dumb money" funneled towards this.

Well it has been less than 24 hours and they are already almost 25% of the way to their goal with 117 days left. So at least $300K of money has come through so far and I am sure that number will grow over the course of the week. Given the number of investors it is over $2k on average per investor and remember you have to invest at a much higher level to get that 1:1 time needed to deepen that relationship. So yes maybe a couple folks spend to get time with Bode and deepen/develop that relationship, my guess is the majority are not investing at that level, so either way there is still a lot of dumb money going into this.
View attachment 216134
I'm not saying people are investing at defined levels to get the defined perks (like skiing with Bode for half a day). I'm saying that a lot of the people putting in cash are likely people who already have some sort of relationship or connection to the faces of the company, and who have no expectation of getting a financial return. They're doing it to demonstrate support. I guess you can call that dumb money if you like. I don't really think it fits the definition.
 

dbostedo

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if I recall correctly they were only going to charge me $5,000 since I am already a valued member of the SkiTalk community
I don't want to reveal any secrets or special deals or anything, so keep this quiet... but if you show up at one of the National Gatherings, you might get that perk for free!
 
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Wasatchman

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I'm not saying people are investing at defined levels to get the defined perks (like skiing with Bode for half a day). I'm saying that a lot of the people putting in cash are likely people who already have some sort of relationship or connection to the faces of the company, and who have no expectation of getting a financial return. They're doing it to demonstrate support. I guess you can call that dumb money if you like. I don't really think it fits the definition.
Then why not call it a donation that gets financial perks, rather than go through the expense of setting up this "offering " that includes some embarrassing disclosures.

If they would have gone about the way of donation, that seems reasonable to me. But this way seems slimy to me. As far as business reputation goes, I don't see how Bode Miller and Andy Wirth recover from this, especially given prior history. Then again, I wouldn’t have expected over $300,000 from this offering already raised. So what the hell do I know?
 
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dovski

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I'm not saying people are investing at defined levels to get the defined perks (like skiing with Bode for half a day). I'm saying that a lot of the people putting in cash are likely people who already have some sort of relationship or connection to the faces of the company, and who have no expectation of getting a financial return. They're doing it to demonstrate support. I guess you can call that dumb money if you like. I don't really think it fits the definition.
So what you are describing would be "friends and family" investments and those usually flow directly in a more personal way. These investments are being facilitated through a third party platform which makes it somewhat indirect. If you have a relationship with the owners and want to support them, there are better ways and as the platform operator probably takes at least a 10-15% cut of all the crowd sourced funds. Get the point you are making, so will modify my previous statement "this is a combination of dumb money and dumb support" lol. Bottom line is the way they describe this is terrible and misleading. If this is really a help us save our company so we can live to fight another day, don't sugar coat the situation and spin it, call it what it is.
 

fatbob

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Is there not a difference between clicking through on a Kickstarter type thing and actually fronting up cash?

I don't doubt there are friends and bros here signing up for the cool factor. I mean maybe it's just a cool brag in certain professions or industries to say you're an investor in Bode's ski company. Might be the difference in being memorable on an unrelated pitch to a potential client who is a skier. Even if you know it's a loss you can possibly milk the story. Probably no different to your Pebble Beach polo or whatever.
 

Wade

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Then why not call it a donation that gets financial perks, rather than go through the expense of setting up this "offering " that includes some embarrassing disclosures.

If they would have gone about the way of donation, that seems reasonable to me. But this way seems slimy to me. As far as business reputation goes, I don't see how Bode Miller and Andy Wirth recover from this, especially given prior history. Then again, I wouldn’t have expected over $300,000 from this offering already raised. So what the hell do I know?
I have no idea really. Could be that this approach allows them to classify the cash that comes in as equity rather than income or debt and that helps them with their tax position or the presentation of their balance sheet.
 

dovski

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Fair warning. If you pay to ban me I am going to pop back up with a new profile called SkiTalkMan. Save your money @dovski .
@Wasatchman I was actually going to offer you the opportunity to invest in my early stage business to ban select Ski Talk members, we have multiple levels of investment each of which comes with different perks and the opportunity to add names to our banned list. More importantly our company has no employees and the founder has decided to keep his car. Currently we carry no debt, have no losses and no assets. We also guarantee upfront that you will not get any material return on your investment ... but the intrinsic satisfaction of banning folks for irrational reasons. At the platinum level you can even block a ski talk moderator lol

Fine Print all of the above is not guaranteed and subject to yet to be initiated negotiations with SkiTalk
 
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Wasatchman

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I have no idea really. Could be that this approach allows them to classify the cash that comes in as equity rather than income or debt and that helps them with their tax position or the presentation of their balance sheet.
Sounds like you're trying to reach a bit with these justifications. Firstly, they pay no taxes other than sales tax- remember they are not profitable. Secondly, this isn't even equity but rather something that could potentially turn into equity if certain things happen like going public. The offering is such that Peak skis could even become wildly successful and investors in this offering could still receive nothing. Unless Peak gets bought out at a certain valuation or they become publicly traded within a certain timeframe, you get nothing. Even if Bode and Wirth end up hitting it big time those milestones have to happen to get anything. In other words, you're just about guaranteed to lose everything but whatever level perks they offer up front like the Stio vest.
 

Wade

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Sounds like you're trying to reach a bit with these justifications. Firstly, they pay no taxes other than sales tax- remember they are not profitable. Secondly, this isn't even equity but rather something that could potentially turn into equity if certain things happen like going public. The offering is such that Peak skis could even become wildly successful and investors in this offering could still receive nothing. Unless Peak gets bought out at a certain valuation or they become publicly traded within a certain timeframe, you get nothing. Even if Bode and Wirth end up hitting it big time.
I’m not trying to justify anything. You asked why they did it the way they did. I said I had no idea (which I don’t) and suggested a couple of differences in the accounting treatments of a donation vs an investment that could have been considerations in the approach they chose.

My guess is they’re going under. It would have been great for it all to work out, but it seems unlikely that’s going to happen.
 

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