You guys, Stevie did explain why, in a professional business like way to us the end users...ecom and bad forecasting. He gave numbers like $70k, $11 million dollar company, not sure how you guys missed that. In short what he was saying was the huge financial crisis that happened at Kayo was sales tanked, probably I'm guessing in the millions, because they had forecasted a certain amount of sales, he gave the example $70K, produced that much merchandize to meet their sales goals of $70K, and didn't sell a fucking thing and took huge losses over a certain period of time, and that might have repeated a few times in row, and may have happened for a few different sku's so $70K here, $70K there and there, boom were talking $250K loss in 4 months and no one is getting paid. Then who knows how frequently this was happening, or for what length of time. He's not going to say that directly, or get into specifics, he's a multi-million dollar business owner they don't talk like that to the public (end users). He's not going to give out detailed internal information but fuck he literally explained it pretty well. Watch it again and listen.
When you are doing annual sales of $11 million and you have forecasting mistakes the losses jump up rather quickly and people get laid off. I guess however the contracts were between the riders, Kayo told them we can't pay you anymore but you can still ride for us. Which if I remember correctly was the circumstance for a bunch of dudes, because they all cried about it on instagram. At a regular salary job outside of the skateboard industry, if these huge quarterly losses happen, you just get laid off or terminated, because your salary is used to pay off those losses unfortunately, while the top share holders still drive fancy cars, get their vacations, and steak and lobster. It's just how shit goes at a corporate level. However, those top shareholders life at work turns to hell, workload gets doubled maybe tripled, and shit gets hectic with the banks, creditors, debt collectors, and attorneys. Don't assume the people at Kayo who are still there making money are happy with what happened.