tragic news today penthouse filing for
bankruptcy now if for you are under the age I’ll but 35 you might not
even have any idea what penthouses it was in some
senses a weak sauce playboy or in other senses a weak sauce hustler because playboy was
more better known of course and had the softer shots penthouse has
slightly raunchier shots but not really raunchy so it wasn’t
quite as you know salacious as hustler and it
wasn’t quite as well known as playboy when I didn’t know until today is
actually it was bought by FriendFinder Networks and that’s what’s
going on and someone you might remember adult
friend for FriendFinder and that was the disasters website where
a lotta guys would go on perhaps including some people in the
studio yeah okay maybe I tried it once when I was
single and they would think well I okay I see some hot girls and I would ok adultfriendfinder I what up I’m there
turns out that’s not really what happened it turns out that there’s a lot if they
were looking for men at all they might have been looking for a
different kinda man and not exactly this perfect category but more likely
than that they were looking at all it okay so I’m
not surprised they went under it didn’t seem like a steady business
model a so now of course the times a pass them
by an in many different ways both friend finder and penthouse now there’s
absolute grinder and what is timber tender when we talk about what are the kids doing these days
tender okay tailored well that could have been a good you
know name for that website as well and your that app so here’s a part of
the story that a measly that turns out there estimated
liabilities for FriendFinder Networks was anywhere between five hundred
million 21 billion dollars okay fine but they must about assets to you know
their asses were 10 million dollars so liabilities amid possibly up to a
billion and only ass is a 10 million how do these companies get
money drives me crazy there some companies
have heard of that have been profitable for quite some time in a very competitive landscape and me why your companies like this but and
that’s what it is money begets more money there obviously
yes a huge investment in the beginning so since they had a huge investment they
just kept pouring the money and until it all ran out you know they have not made a profit
since 2000 and 8 five-years-old losing a tremendous
amount of money and finally today apparently a FriendFinder Networks including
penthouse says no muss no more