You are being Lied to About Fanatec (That Ends Now)
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- Опубліковано 4 тра 2024
- The complete truth about Fanatec, customer service, shareholders, hedge funds, bankruptcy - it's all here.
The explosive, unedited interview with Fanatec CEO Thomas Jackermeier where I ask him YOUR QUESTIONS on the Fanatec Black Friday orders, customer support tickets, the ClubSport DD+ not shipping, warranty dates, shipping in different boxes and MORE. Thank you to everyone who responded on UA-cam and to the Sim Doctor newsletter asking for your questions.
Sim racing influencers owe it to you to ask these tough questions and represent you with these sim racing manufacturers. If you feel like they are not representing you, ask them why not.
After the interview Fanatec added the following in respect of warranties:
"The warranty start date shown for any product in a Fanatec account is based on the shipping date of the order. This means if the customer purchases a pre-order item, the purchase date has no bearing on the start of the warranty coverage. If the customer requires support towards the end of the warranty period, we take the date of delivery into account."
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Who do you want to win the battle for Fanatec, Thomas Jackermeier or the new management? 👇👇
…I want the customers to win so I can purchase my first dd wheel from Fanatec. Smh
Something in me (and I know nothing) always sides with the guy that had the vision to put the comany/product together...
I'm rooting for TJ. Been a customer for over 12 years. I will ride with TJ until the wheels fall off.
@@leftwich7 FORWARDDDD 🤺
I want us the true Sim Racers to win.
I have no dog in this race ...but a hedge fund owning anything is a bad idea.
👀👀
@@Kireth So you think a Blackrock would be better for Fanatec with cheaper made products and weaker warranties? I really don't want to see a solid product line become Thrustmaster
Sounds terrifying 😅
Woah, that escalated quickly!
My initial feeling when they replaced TJ was that it might be good for the business and its customers if it had a more corporate style management.
This latest development using bankruptcy laws to gain full ownership feels excessive and underhand.
It seems that they can see a positive and profitable future for Fanatec, but they don't want to share that with the people that made it what it is today?
I guess if they shared it they would be replaceable. What does your gut feeling say?
@@Kireth I don't like the way hedge funders strip mine the value out of businesses like these - based on the latest developments, I'd be siding with TJ.
@The_BenboBaggins it's like Eurovision, another vote for TJ 🙃
I’d want anything/anyone but a hedge fund running the business. I’m in the high performance automotive industry and watched as hedge funds have slowly bought up and IMO ruined everything. Nothing good comes from these big corporate takeovers for the average consumer, only good things happen for a small select few people who get their pockets lined.
Do you have some specific examples you can share?
@@Kireth Of course, to lay some context I own a dyno tuning company in Ohio that specializes in tuning Import vehicles and I'm the tuner there, so I'm not without my bias but I can give you a few examples of what I've seen.
While I think the EPA should exist, here in the US they basically have unchecked power (this is a whole discussion in its own). They started going after tuners/shops regardless of if they were doing dedicated race cars or street cars, they basically said any car that's modified is illegal meaning you couldn't turn a street car into a dedicated race car. We were in the process of trying to get the RPM act passed to protect race cars/motorsport here, this should have been the moment where industry titans like Cobb Tuning (one of the biggest tuning software companies in the world) should've stood up and fought as the rest of us smaller guys banded together. Instead because they're owned by a hedge fund they rolled over and only wanted to protect profits instead of dumping money into the fight. Where this really became a problem was that Cobb has a network of certified tuners that are the only ones allowed to use their software, we sign NDA's, we are kept in the loop about new products/features. One day out of the blue in April 2022 they dropped the Green Speed initiative on everyone, it basically said we couldn't turn off DTC's for emissions related devices anymore, and you may so what's the big deal? And part of me agrees, we need to protect the environment and there's no reason to remove emissions devices on every single car. Here was the problem, there was no warning, us tuners updated the software one morning and saw we lost access to DTC removal for race cars, flex fuel, sensor inputs etc. on platforms like Subaru. Why this was a problem was that many customers were in the process of building their cars, many had $30-40k in their builds based off what Cobb was offering, so now they had to scramble and many ended up paying $5-10k more by having to switch up the builds to either be compliant or switch to a standalone ecu. Here's the kicker, Cobb even was still selling products like their flex fuel kit less than a month before this change happened. Which they knew wasn't complaint for these changes, and most tuners are booked more than a month out for these customers to get their cars tuned on flex fuel. There was an absolute uproar, and many of us tuners/shops reached out to the people in Cobb (who were our friends) saying why wouldn't you let shops and consumers know this was coming? This was shady! Especially selling parts less than a month away from something only they knew was coming, and they said their hands were tied, they wanted to, but this was a call from the lawyers in the hedge fund.
Holley is another example, everyone knows them for carbs. But they also make the wildly popular Holley EFI for domestic V8 cars. They went into bankruptcy around 2012 I think? They were bought by a hedge fund and have changed hands many times now between various hedge funds and holley now owns a ton of brands because of these hedgefunds. www.holley.com/brands/ Here's the problem, because the hedge funds only care about profits quality has dropped, many people buying the Holley dominator ecu or holley terminator ecu have run into the wiring harnesses being pinned wrong or bad on arrival, or things like injector drivers failing immediately. There apparently is no QC anymore or just very cheap components being used in the name of maximizing profit.
The last example I'll use is is PRL Motorsports, a very popular brand in the Honda world. They always had the nicest parts, with some of the greatest guys working there, and a good reputation. Then AGP bought them recently, AGP again is buying up all these brands, all the sudden we were buying stuff that said "in stock" but not receiving them for 3+ months. If you tried to reach out to inquire about your order you no longer got a response, all the sudden their phone number disappeared on their website and google. Once we found out what happened If you reached out to an AGP rep they had zero idea what was going on with your order. It was a disaster and seemingly ruined PRL's reputation in what felt like overnight.
There's so much more, but in my experience which hedge fund owned companies in my industry, price go up and quality goes down. They always take the safe bet to make profits and in some cases stifle innovation. So as you can imagine, I am no fan of them.
@@ctr94864 Very helpful, thanks!
My issue with all of this is that my 3 month old 12nm base has a problem. I don’t feel comfortable sending it back for repair with all of the issues with the company. My base still works although there is some unusual sound coming from it when I turn. It took Fanatec 3 months to fill my order and 6 weeks to respond to my ticket. If I send it in, I’m not sure I’ll ever get it back.
Sony should just go ahead and license the Moza products for GT7.
Why you use ERMZ because you don’t get it and use his opinion?Watch the original video one day earlier from ERMZ!
Ermz? Yes, great video, but Kireth's got some great insight, particularly as he actually sat down and eyeballed Thomas.
@@supercededman I watched Ermz video and it's by far the most accurate. The bankruptcy won't happen, I can gueantee it. If it does, I'll go as far to shut down my channel. I just know of many reasons why it would not be ethical or legal...provided Thomas is putting up the cash.
I try not to do business with a company that is not transparent. I don't think I could ever trust them at all, even if the company doesn't go under. Thanks a lot brother for your honest and upfront journalism. The world needs more folks like you that are just flat out honest and not hide anything. Cheers to you man!
All company information is publicly available. They've many forum posts about the shipping delays too at an operational level. They're VERY transparent, both from a legal and ethical standpoint.
@@GSSimRacing I have read their forums and I do not believe them. I also do not believe you. You really sound like a shareholder of Fanatec with all of your defense comments for the company here. They are shady, plain and simple. Companies that are ethical and transparent do not have these kinds of problems. Cheers.
I think we can agree that the more transparency from sim racing companies the better 🙌🙌
@@Kireth it's a publicly listed company. All of this is publicly available to be fair. And there are constant updates on their forums about the delivery delays etc.
@@christopherraines3202 OK, so you don't like something you hear and are now essentially calling me a liar. Nice. I don't have shares in Endor. Although I am considering it, purely from an investment perspective. You not believing me (along with objective facts which are publicly available) is a you problem. If I held shares, I'd disclose it as I do believe integrity and facts are important when people's livelihoods are on the line.
I believe that without TJ's vision and enthusiasm, quality will be the first thing to suffer if it becomes a Hedge Fund financed operation, HF's understand profit and that is all, no one from a HF is going to step into this business and be hyped enough about it to bring high quality product into sim racing, it will be strictly profit focussed and that makes it, unfortunately, inevitable that quality control will be the canary in the coal mine as they say. If TJ stays, the dark cloud will always be there hanging over his head which could work in 2 ways, one good, one not so good. I do think he should stay but not as CEO, they could poach someone from Asetec or one of the other high quality manufacturers who knows what they are doing.
I have been a dedicated Fanatec user, from CSL Elite & V1 to DD Pro with V3 pedals since 2019 and it is a shame that TJ got the company into this position to begin with.
It is another sad tale about the mismanagement of a wickedly good company and in the end, it will be the customer that wears the cost.
Well explained. Thank you for taking the time to provide this information.
No problem!
I worked in the plastics industry for over a decade and similar (in a way) happened to the company I was an engineer at. The company lost their vision, their competitive edge, and their agility. They went public and then were sold to an equity company… over time those behaviors and relationships more or less crushed the creativity and culture of the company to the point that it is a shadow of what it was. I feel very much that Fanatec did similar.
TJ was definitely a visionary, but it feels as though the company because too complacent in their market. New competitors arrived as they will in any industry and provide competition. Fanatec didn’t pivot and were caught imho off guard. Covid did not help. Then the Black Friday sales event was not well thought out and overly reactionary. And now they have a problem. I would argue there still is a place for TJ in the organization, but I am not convinced that at this moment he may be the best individual to float the company out of its substantial problem. Likely it would be smart to bring in other leadership at some level and empower them to make the changes necessary to resurrect the company. Again… not sure TJ is the right person for this. But, I will also argue that handing the company over to the money-pinchers who are only concerns about profitability… is a great idea either. There has to be a middle ground. But this entire problem did not occur over night. I have been only sim racing about 3-4 years and I observed Fanatecs dominance of the market and a sense of invulnerability when I first came into racing… that was their undoing. I dont feel as though they listened to their customers, completely missed industry trends, and got caught with pants down. So… they have are in a real predicament. I DO hope they can recover… but its going to take a large revamp of their vision and likely substantial senior management changes. If they intend to compete with the likes of MOZA and Asetek, they are going to have to become less complacent and more agile.
So.. Thomas J has done allot for simracing and equipment. Been around for so long. Done a great jo, until he didnt. He should have hired someone more capable to be the ceo, to do the business side of things. Its a realy realy big difference managing an upstart to small, maybe medium Company then grunning a big corp like fanatec became. Thomas should continue on the board, and be the spokesperson, the face of fanatec. Be the simracer of the Company. Then have some suits doping the business side. This all now looks like a hostile takeover, where some are doing everything to make allot of money on the behalf of the original shareholders.
Sim newbie here, I was going to buy my very first equipment from Fanatec seeing as they are the Gold Standard when it comes to sim racing. But after watching one of your videos I belive it was when you were explaining the different wheel bases you own in price ranges. You mentioned that some people are having a bad experience with Fanatec and that put me off. After alot of research I've decided to go with the "new kid" on the block Moza. Once a company gets a bad reputation it takes very long for customers to trust them again,no matter how good the product may be. Thank you for keeping everyone informed.
In the UK you can go to your bank and they can give you your money back whilst they raise a dispute with the vendor. I’ve done this with two companies and two banks when bought stuff with my debit card. Banks were Halifax and Chase.
Yes UK regs quite good on this. Not sure same applies to SEPA payment for example
@@Kirethnot sure myself 😅
I think from your video it’s clear they were in trouble so had a sale to get a cash injection and then sort out the orders after. I wonder if the manufacturers wanted the money before making the products. I wouldn’t be surprised if another manufacturer bought them out.
@mgnoodle2589 I asked Thomas that exact question in my interview video 🙃
I bought mine via Klarna so at least have some recourse should I seek refund...
TJ is the last person that should have any more to do with management of this company. HE'S the one the borrowed so much money that they eventually could not take in enough sales to pay the China factory to produce product and still service the debt. They got into an unintentional Ponzi scheme where new orders were taken to pay the factory to produce product for old orders. The warehouse excuse was a temporary problem - the real problem was that eventually they could not pay for both the debt interest and production, so the product pipeline became almost empty. I consider myself very lucky I canceled my big DD order they could never ship and got a refund on my QR2s I had no use for.
You forgot to say something that might be important : if it goes the new management way (meaning bankruptcy laws apply), not only the shareholders will lose their shares, but customers who have not received their devices will also lose their money ! And a lot of people will probably lose their job with the "restructuring" ....
Maybe people should have a closer look at who is behind the restructuring decision .... 😇
Btw, I'm not concerned, I've never had enough money to buy a Fanatec product 🤣 , my opinion is not biased by anything else than my political and ethical beliefs 😉
I'm very concerned. They have taken £800 from me and I have no product after three months waiting.
Im in the market for a new wheelbase and all my stuff is fanatec, its not alot but i have 2 wheel rims, pedals and handbrake. Should i switch to something else?
Difficult question but an important one. How much have you had to save up for the wheelbase or does the price not matter too much?
@@Kireth I have about $500 at the moment for a wheelbase, I can wait until July to get one. I am coming from a CSL Elite and I was thinking of going for the CSL DD. To me the CSL elite was powerful enough and I was very content with it, but it died on me recently. So here we are, in need of a new one. Thanks for replying.
If you have rims in the fanatec ecosystem for me that would offset the risk. But just my personal opinion
@@Kireth thats something to think about, thank you again.
i'm just trying to shop.
but this is a common case when companies small companies grow too fast.
1) if tommy is a make money guy, he will keep his 25 million and let the bank cook.
2) he wants to save his company, good his passionate, but he needs to hire a ceo going forward. he can be the founder and do the sprinkles.
just saiyan.
Big hedgefonds taking over usually is never a good thing, for them only profit counts - I’m not a shareholder but I think if Jackermeier really managed to get the 25 million the company needs to stay afloat, he should come back!
Ordered my CSL DD (8 Nm) BMW 9.4.24 received it 29.4.
I want a fellow sim racer to save his company, and to being Fanatec back to its glory, he will need help, but having a corporation run it will destroy it
Is this a response to the Ermz video? So Jackermeier isn't turning down being bought out for an estimated 423 million euros? Why would he turn that money down if he is inept?
It really sucks to see my favorite sim racing company just not doing too great. I ordered my whole setup back in April of 2023 before all the chaos and I had no problems with shipping and handling. So I think Fanatec needs Thomas back in the picture if they wanna bounce back
Do you think Thomas was responsible for the company financials heading to bankruptcy though?
I honestly wish I knew more about that aspect of it all but unfortunately I don’t so I can’t say much 😞 if he’s bad for the company financially then I can understand his release from the company tbh
I was going to get a setup from fanatec, but on Instagram there were tons of people complaining about shipments and orders. And it was around black friday. Never did it, also never could afford it.
But I was always seeing if there was a bigger discount but I never went for it. And I am kinda glad I didn't.
@@Kireth yes, he surely made bad decisions, but on the other hand, he is the one who built up the company for over 20 years. A hedgefond taking over usually is always a bad thing, only profits count. Look at Logitech, not only into sim racing, but a big tech corporation and how far they are behind when it comes to sim racing, their direct drive wheel is totally overpriced for what it is, still only one whheel available etc, but why should they innovate, their g29 and all its versions still sells…
The company difficulty is directly linked to cost of goods...driven due to inflation. They also had a large increase of PPE investment, double previous years. This is the US location and presumably capitalising the R&D. These financial difficulties are a small issue, but being a German company, a big deal is being made of it. I got my order 4 days ago after a 3 week delivery time, click to door.
Thank you for keeping it real Kireth that’s why I always watch everyone of your videos. Love brother
Thank you!!
Was picking between clubsport DD and asetek la prima. It sucks because I was already invested in fanatec ecosystem with steering wheels.
Do you have coverage on the Miami grand prix
Yes hoping to go live for this 🙌🙌🙌
just for reference. i'm in california. i ordered the GT DD bundle on the 30th. i got my tracking number today. lets see how long it takes from this point.
Great to have real world examples, please keep us informed!
Unfortunately, corruption isn't just an American thing.
Lmao, corruption is older than than the existence of the USA
I think they spread themselves too thin with their product line. They most likely didn't have the scope of manufacturing needed to deliver the line they were aiming to deliver. They need to go back to basics. Streamline their available products. Also they have no budget entry set up which would be the bread and butter for them to support everything else if it was delivered properly. Also the discounts offered for the Black Friday run were probably over ambitious. A loss of profits combined with a surge of orders they were unable to fulfil. I think the best course of action would be a mutual agreement to meet half way between Jacomayer and the new management. He could continue to bring his knowledge, passion and experience in the simracing world and the new team could keep him in check and renegotiate a deal that will work going forward with the banks. Also Jacomayer could bring in some much needed investment to keep them afloat while avoiding some of the support from the banks they are currently now looking at to keep things going.
I just paid for pedals let’s hope they arrive when they say if not I’ll be back here
Just got my csldd after only a week if waiting, had no problems with fanatec
Nice video.I just want to know how safe is it to buy a wheelbase from them right now... I really do not want to go with Logitech G Pro Wheel unless no other option available
Downside of the Logitech G Pro is that there are no other rims available
Upside in my experience is it just works
Logitech Pro didn’t put on a quick release for just one wheel to go on, but these things take patience to be done right.
Bro, I just bought a Moza, they have a real great quick release system and the wheels look nicer. You can even buy a hub for cheap. I got my wheel and base in less than a week after I got tired of waiting a month for Fanatec. I bought the R9 btw and a set of Simsonn pedals. I will post videos soon. Just started getting into this.
@@chrisdamitz-cc2zj If you are not into consoles you have plenty of good choices to go for. All this pain just to play GT7 on PS5.... I might as well just forget about that game
@@Ticket_Bait @Ticket_Bait It is not only the lack of rims which as you say it is a matter of time (Hopefully), it is also not a very good looking wheelbase. I was sold to fanatic but with the recent drama it is hard to go with them.
I have zero Fanatec on my rig now after having placed many orders in the past. I hope they stay afloat just for competition sake.
More competition always good for us sim racers 🙌🙌🙌
Im in the marked for a top end wheel, but im sitting on the fence for now. If Thomas win this fight i'll probably go with Fanatec, if not I'll have to look at other options. Thanks for these videos though, they're much needed 👌
Given how fast developments are unfolding seems like a wise move!
Was considering upgrading my GT DD PRo to the DD Extreme but instead recieved my Moza R16 with FSR wheel yesterday with CRP pedals arriving Tuesday. Sad to see the state of Fanatec and I hope they can come back but for me it's over.
Edit: CRP pedals instead of SRP
Interested why you went for SRP over CRP, was it mainly cost or not enough difference on the CRPs?
@@Kireth sorry Yh I mean the CRP. Ive been interchanging the names 😭
I was wondering 😅😅
TBH, we have multiple "bancrupcy" processes in germany. But after hearing about StaRUG, I learned that it does not stand in a good Light. Seems it doesn´t happen to rarely... (Reducing the worth of the company), selling it cheap, get restructured and get often sold again. Doesn´t matter what happens to the company.
So as a customer - not a Sharholder and no other special interests in the company -, with some background knowledge, my gut tells me that Thomas has to come back.
I am glad that you chose not to name the creators with shares. I was certain that you would not, too much class/legal sense, 👏.
Very informative, thank you, 😊.
Like deployed 👍
Owners or people just working there. Owners are responsible, have to say what and how. If the company can continue, then should continue.
I was going to throw down $2000 on Fanatec last month for GT7
Now, I have no idea what to do.... sit back and wait I guess
My consumer confidence in them was barely recovering from BF, your interview actually helped
I hope everything works out soon
Get it before it's too late, and thank me later.
no confidence after watching your interview back in March. After a lot of research, i just had no confidence that anything i was to order ( Australia) would ever arrive, and its not cheap gear, i went with Moza. It just seamed to risky.
Was considering dd pro as the successor to my g923,this video ,and many other reports of poor customer service,delivery,uncertain future,I have decided to spend a little more,and get G pro.
I have a DD Pro and Logitech G Pro (see post above), and when I first got it I was VERY happy (dodgy throttle pedal had to be returned). But ... the support is woeful. It's like Russian Roulette - you might get lucky, you might not.
OTOH, my G Pro was only $200 more (in Australia), due to free shipping and a bundle with the pedals which gave me a $100 discount. There are many factors, but if you are simply looking for ONE wheel and pedal set (at this stage), I'd go for the Logi over the DD Pro every day of the week.
@@supercededman thanks,yes with free shipping for Logitech +15% discount on website,and almost $200 U.S. shipping to me in Canada from Fanatec,brings price reasonably close.Can’t wait!
@@supercededman Just ordered my g pro,and pedals
@@alangoyeau you shouldn't have to wait long. Let us all know your impressions 😊
im bout to get a r9 and ks + srp pedals and the accessory kit im just waiting on a 5% discount by edging the shopping cart.
Secret Moza hacks 😅
I'm more concerned if i should buy a wheelbase from fanatic knowing that it might take too long to deliver it.
After watching all your videos on this situation while he was there when things happened he wanted to change it and be accountable to the people purchasing in the sim racing community and thats telling that he is willing to learn from his mistakes and the issues and how to fix them and not just be all about the money that hedgefunds would be and while yes they could fix it, it might not be beneficial to the customers going forward.
While i saw alot of people saying buy as much as you can while thomas was still there its hard for new customers to shell out into a company that is in such financial issues and the new board and ceo would have seen it as them been correct and pushing even harder for the bankruptcy way.
It truly is a shame as it was a brand i was seriously considering buying into but have had massive thoughts and also looking at others die to the massive uncertainty in the brand for now it has made me not part with my money amd will continue to watch your impartial videos for updates, but while this fight continues it is truly the sim racing community that is going to suffer.
I ordered CSL DD Pro on the 29th and got here in Ireland 1st of May. I'm happy
I ordered Podium Paddle Module on the 27th and didn't even get the Tracking Number yet... But luckily had no issue during Black Friday.
It'll be an expensive (but effective) doorstop if this goes south...
Of the 2 options you've given, I'd have to vote for "biz as usual" with TJ simply because, in my mind at least, the term "hedge company" brings thoughts of more than re-structuring or even down-sizing. It makes me think of liquidation sales of inventory, fixture, and equipment, and possibly whole divisions of a company. It means the possible end of Fanatec altogether. That alone scares me enough to back TJ. Now, we're he to hire on a business manager type to handle the areas of his company he is obviously weak in, I would be much more comfortable in my choice.
I ordered a round wheel and got it in three days from cali to indi ordered on thursday night got it monday but the ol' lady hid it from me for weeks
i did order and received my order also the communication reply by customer servive only took 2-3 days
Sounds like an improvement 🙌🙌
@@Kireth Yes i also had a huge cancellation about 3000€ and it was payed back instantly in 48 hours... I did cancel because i would have waited too long for the huge bundle due to delivery time of the handbrake. Did reorder then and its already delivered to storage hall.
One more important thing i saw some icon for live chat a couple of days popping up on their page - it was only two hours there but i think something is coming
Perhaps this could be the AI customer service feature?
@@Kireth I think it will be live chat like Amazon where you can chat with customer support instead of calling them or writing emails. Thomas mentioned something like this in your interview as far as i remember
Yep hs said AI and the financial statement before also referred to outsourcing
im new to simracing. Is it safe to buy fanatec or buy something else? (sub 800-900)
damn. hope my dd pro I got during the BF last!
mate, here in Australia I have bought more than six things since black friday last year and every single one of those items arrived on time without any drama's at all. I think the problem is all northern hemisphere based due to the new distribution centre in Europe. Down under it's all good, no drama's at all.
I’m in the US, and I hit the Black Friday sales hard. I got the bulk of my gear then and pieced together the rest and upgraded to the qr2 system well after.
I had zero issue with things being shipped and delivered on time. Black Friday gear all came in the time frame that was given. The orders after all showed up a day early. I agree that this must be a regional thing. Everything I ordered was in the US and shipped to the US. Not sure how things work in Europe as far as Customs and how that affects time.
I am not a Fanatec fan, I just use Fanatec products. In the end I care about the industry, from bigger players like Fanatec and Thrustmaster, to the smaller passionate garage companies like Asher Racing.
And I think the new direction, with a more conservative product lineup, could be healthy for the industry as a whole. Fanatec have been moving too fast, and have a very complex lineup that has turned difficult to manage for them. I think a bankruptcy and restart could make them focus on profit and do better in the long run.
Fanatec is basically a drop shipping company in my experience. When I bought my Podium F1 DD1 in 2020, everything was advertised as in stock, but 1000's of us were all asking where our orders were 2 months later. You only get stung like that once if you have half a brain. I'll never buy from them ever again.
I don’t know.. I just hope it gets saved. It’s a great company I personally never had issue’s 4 orders, 4 times 4 days. Thomas may save it but then with another vision because I think he has the right passion, because with another leader i think we would lose that. But yeah if Thomas can’t really save (don’t count the money in) it and change what’s needed then let someone else do it.
Why not have both, Thomas J and the others surely it would just be a win win then as you get someone who is passionate and knows what’s he’s on about when it comes to sim racing then you’d have the business minded people. They would both be able to direct each other to create a happy medium.
Thomas as Chief Design Officer or such?
@@Kirethyeah something like that would surely be a good thing
Not affiliated with Fanatec, but with Moza. So not that “not in it”.
I can see what you try to do; it’s just a bit over the top. You don’t get more right by pointing on others having wrong. (Like the resent post.)
(Yes, I do have a lot Fanatec stuff. And it has been good for many years, also have Thrustmaster, g27, and a lot of other sim stuff.)
Overall I enjoy your content, just not this “Big news” way of doing it.
Damn, to think I could have inserted a 1 minute advertisement for Thrustmaster/Logitech/Moza in this video
@@Kireth I don’t think you have inserted any advert. I just think that the way you communicate this case, is a bit over the top. It’s a bit much “tin foil hat” or “they are lying to you”.
Just my two cents. For me it doesn’t matter if Fanatec goes bankrupt or not. I just don’t think this way of communicating looks good on you.
You do whatever you want with that information, ofc. Your channel. 😅
@@terjehelle What you're doing is called 'gaslighting'. Like when a woman describes something to the police and they roll their eyes and say 'don't you think you're being rather hysterical?'
The level of incompetence at Fanatec is staggering. And the attempts to convince everyone else that it's just a storm in a teacup are very irritating.
All these people are trying to discredit you when half of them don't even own fanatec products.... people should really try to do their own research before they speak they owe me thousands of dollars worth of gear I never received... now these UA-camrs are coming out the Woodworks trying to defend fanatec for the simple fact some of them are shareholders the ones that aren't shareholders don't even have anything to say... is there more concerned about getting their residual check people don't understand this... all I want is my products or my money back period.. people need to do their own research before they speak on issues they do not even know about everybody best making negative comments probably don't even own anything fanatec just on here looking for some clout... the truth is the company messed up and these are the type of repercussions you have to deal with when you don't try to make things right
I seen ermz cover this, the first youtuber i've seen other than yourself. He did not even try to pretend he was impartial lol.
Dude it doesnt matter if your a shareholder or not.
Its absolutely criminal law to steal property from owners who paid for it. Im not invested in fanatec but Its totally evil to try to steal everything from the founder TJ and so on.
Shareholder bias or not. Hedgefonds are always evil and mean no good.
We can just hope jackermeier Wins, no homo
Right, that’s called transparency! And I pity anyone who can’t afford to have an opinion on this important matter! @Kireth
And don’t talk to me about journalism, what you are putting out there is far from (responsible) journalism.
Hello Lacktausch my old friend 🙃
@@Kireth Hi Kireth, Mate! 🙃
@@Lacktausch "And don’t talk to me about journalism, what you are putting out there is far from (responsible) journalism."
Can you explain this comment? How is Kireth being irresponsible?
I'm not a share holder, but I wish Fanatec stayed as a company from simracers to simracers. Not from people that only care about numbers in a spreadsheet.
I think people should watch the video Ermz posted
I got a fanatec add halfway through this video 🤣
Surely not 😅
Do you know about the rumors of UA-cam reviewers questionable impartiality, considering they're an affiliate and also a Fanatec shareholder?
Nope where did you hear this?
@@Kireth no sure, probably UA-cam but I've searched my history and can't find it... Maybe it's been deleted...
The UA-camrs video said it all... he's only worried about getting a check and was trying to make it seem like everything was all good and it's not...
how many of you are watching this video and listening to it saying O WOW i can connect my fanatec rims to a moza base. hahaha i knew u could do this but this is some good marketing going on in the background
Could a company like Logitech propose to buy the company and keep the Fanatec brand and build onto the existing platform 🤔
It would seem like a match made in Heaven, because Logitech's supply, delivery and customer service is sound; their products have a solid reputation - not just simracing - but I don't think they would overall benefit from being associated with a brand with questionable dealings with customers.
Don't get me wrong, there are a lot of very happy customers (i've a DD Pro AND a Logitech G Pro), but there are a LOT of very, very angry people. Personally, I can attest to the poor communication with customers, and the less-than-optimal quality. The design is outstanding, but compared to Logitech, for instance, their quality control is far behind.
When u see the prises these companies want us to pay..u could expect transparency!
When fanatec was hidind the specs from its new hardware i jumped from their ship..
I just hope this is not how simracing will end!,
But it looks like the beginning of the end!
My main problem are these YT sim racers that have not mentioned anything about the problems with Fanatec keep pushing their link. Without any type of warning or anything. No heads up. They have pushed their link the whole way. Really shady in my opinion
There are clearly pluses and minuses to both scenarios but I can't help think the hedge funders see an opportunity to make a huge profit at the current shareholders expense.
I agree that the motive of hedge funds will be purely profit.
But also whoever the management is of Fanatec will be required to prioritise profit
Not sure what's better for us customers
@@Kireth for me the ideal solution would be if Thomas learns from the mistakes of the past and puts the customers first again.
Have you seen the video Ermz put out? He’s a share holder, very transparent, the way he laid it out it all does sound very very dodgy. Especially the conflict of interest the new CRO appears to have. He finished off by stating German authorities are now interested as it reeks 🤷♂️ Looks like the customers and shareholders who have propped up and supported Fanatec since ‘97 will lose out and the new owners get a company for pennies on the dollar. Doubt they have the passion for sim racing that Thomas has. We’ll suffer in the long run if it goes through as the quality dips as the new mob will want a quick turn around to rake in as much cash as they can.
You need to take these comments with a grain of salt honestly I think people did get burned during Black Friday but seems that a lot of people hoped on the band wagon with the negative!! How many of these negative comments are people who have a biased opinion against this company!!
I'd say most of the negative comments have a negative opinion of the company now
If Thomas Jackermeier puts $25 million of his own money in it to get his company back that he has started. I think that is a pretty big fine for the debacle that happened during Black Friday 2023 So therefore I think he'll be more Intune with the company.
So basically don't buy anything from fanatec?
"It’s dead, Jim."
I'd quit sim racing before I'd soil my rig with a Failtec product.
Jackermeier needs to be kicked out ASAP, he's the Boss and his total incompetence derailed Fanatec, why does anyone want to reward him with a second chance?
The problem is worse than people think, if it's come to stage where a Starug is applicable, the Company IS broke, it means the Banks or the Lenders have already stopped or paused the funds.
I call BS on the Black Friday 'oversold' excuse, it is more and more looking like that was a fire sale to desperately get some money rolling in.
They MUST have known, or at least have a very good estimate of their stock availability, all modern Companies have got computer based warehouse stock counting systems these days, and if they didn't have that, they are counted in the old fashioned way by the Staff there, you just can't run a business not knowing what's in stock, they just didn't want to stop the cash flow, is more likely.
Affiliates should be scrapped and the savings passed on to the customers,give the customers a 5% discount👀
I always try and push for a customer discount with my affiliate links
@Kireth yeah I have used your gtomega discount many thanks👌 👍fanatec equipment isn't the cheapest so I won't use any affiliate unless there's something in it for me.
Honestly this could be a great move for them 🙌
@@Kireth hopefully common sense will prevail 👊👍
If he was running a company that is bankrupt where did he get 25million that’s very important
It’s not bankrupt, or doesn’t have to be that’s the whole point of the $25 million injection of investment capital (he is not writing a personal check…)
I think this company is going down the drain because of that mismanagement....sad but true
I dnt care who owns the place just get me my items
I'm an investor (not in Endor) and a sim racer. This whole video is nothing short of incredible. The losses they had was directly linked to input costs and a 25 million investment in property (US location taking around half, if not more). EBITDA guidance is in the 10% range for fy 24. Not to mention they've got around 100 million of stock on hand, ready to ship. This short term liquidity issue, also collided with a operational mess on their side. But putting out videos such as this, is just plain incorrect. I ordered fanatec stuff 3 weeks ago and it arrived 4 days ago. Shocking. Seriously mate, you have no idea how these things work. And claiming that youtubers are shareholders etc....like, how would you even know this. You're making up a narrative to get views and clicks...meanwhile slating a company with outdated facts. Full disclosure, at current share prices, I'm mega tempted. Another disclosure, I've an affiliate link for the past year. My income from this is a huge ZERO 😂. Seriously, stop with the "fanatec is failing" narrative. It is not. I've seen companies in MUCH worse condition survive.
So you are a Fanatec affiliate, make money from promoting Fanatec products, want to buy Fanatec shares and see the price increase, and have signed a contract to promote Fanatec products, got it! 🙌🙌🙌
@@Kireth find me one video on my channel where I promote fanatec. Anyway, you're deflecting from the facts I stated. Your video is very poor. And as a content creator in my spare time, I find your approach to be ill informed. As I stated above, my findings are based on objective facts. If you know how these things actually work in real life, you'll see how far off the mark you are with this video.
@@Kireth But he is right. You didn't really understand the whole situation. The way that the hedgefund wants to acquire the company is not through bankruptcy. StaRug is a very new and highly controversial process that aims at preventing that through very drastic measures. Bankruptcy would also be an option, but that is not even being looked at (because, as the CFO himself published, Endor will be profitable again this fiscal year). StaRug (in this case) is a loophole, that a certain locust wants to use with the help of the CFO.
It is also not, like you say, shareholders against management. The only person in the company "against" the shareholders is the CFO, who at the very least has a certifiable conflict of interest, since the guy who runs the locust used to be his boss until last fall.
The new CEO has not said anything so far. Jackermeier also nowhere said that he wants to get back into the management. He only said that he has an alternative way to get the money the company needs. Management already has gotten the power from the shareholders to collect more capital, there is absolutely no need to take the route of StaRug.
The only tangible facts right now are: Endor needs about 25 Million Euros. Those can (and should) come from additional investors through the instrument of increasing the capital of the company (the result in that case would be that more shares would be sold, which dilutes the stake every current shareholder has; Asetek did exactly that last year, they also were very much in need of cash then, but no one cared). StaRug is a different process. I personally think that Endor won't be able to use it, since the outlook for the company is too good.
The restructuring of the company would be the same in both situations, the only difference is where the money comes from and who would own it after the investment.
"I ordered fanatec stuff 3 weeks ago and it arrived 4 days ago. Shocking."
This is always the reply from people such as yourself. 'It didn't happen to ME so what are you complaining about?'. The fact that I've waited three months for my stuff to arrive and it still isn't here, and that I've asked for updates seven times now and received nothing but autoreplies and one 'contact UPS' message, all that's irrelevant because some people got their stuff on time.
Also, you've an affiliate link - this compromises your impartiality. You resent the truth of this fact, you resent someone pointing out that it compromises your impartiality, and therefore you lash out. A question - given that you've gotten zero income from this affiliate link...why exactly do you have it? Either you do make money from it and it compromises your impartiality...or you make no money from it and it makes no sense for you to have it.
"Seriously, stop with the "fanatec is failing" narrative. It is not. I've seen companies in MUCH worse condition survive."
Oh well, that's reassuring. Kireth should stop reporting on the absolute fucking shambles of Fanatec(which you admit is a real issue) because....you've 'seen companies in worse positions survive'. Excuse me if that doesn't sound like much of a reason to lie to the world about how disastrous Fanatec are at the moment.
@@thesprawl2361 please read my post. My opinion is based on objective facts. Actual financial statements and as someone who has a lot of experience in finance. My fanatec link (as well as the others I have) were added to my channel ages ago, but I never once pushed any product or even suggested people to buy fanatec over another brand. My videos are there for all to see, that this is correct. If fanatec were failing, you had better believe I would be advising people not to buy, nor would I buy myself. The truth is they had a screw up last year, cost them a lot of money and operationally their black Friday demand strained their shipping and fulfilment to breaking point. I'm sorry to hear there are still orders stuck, but thing are improving, for sure. Were all of your items in stock at the time of order. Have they been jaded to warehouse yet?
Someone on fanatec forums that works in the company said that one UA-camr in particular is putting out stuff for clicks. Wonder who he’s talking about.
Not sure, but I imagine UA-camrs will start covering this not because they care, but because they want clicks
@@Kireth I just hope they survive.
The best thing for all sim racing customers like you and me is a strong Fanatec
@kireth, you do understand your recent videos are not helping fanatec to stay afloat. And whilst that is not your responsibility at all, and there is a case to be made that your videos help consumers, I dont think it is smart to shoot water at a sinking ship. Your community is very much dependent on fanatec staying in business as we all need driver updates, support and customer service for fanatec product stay available. You and some other channels trying to prevent people buying from fanatec may help a few, but if that makes fanatec go bankrupt, it well affect many. Please keep in mind that you should also keep your big viewer base who already have fanatec products in your view.
I literally recommended a Fanatec product in the comments to this video. I'm reporting on truths rather than spinning it one way or the other to satisfy a certain crowd
I agree that you do what you say, but not everyone reads all comments, and your recent video titles are quite strong. I am all for unbiased videos, but then the titles should be unbiased as well. And I was a victim of the november black friday misery too. I had to wait 5 months and got not a single reply to my inquiries to fanatec. I am a very big critic of how they handled everything, BUT I still think that for all fanatec owners , it is extremely important fanatec will stay in business.
Very sorry to hear that. Did you get your products in the end?
Yes, after I canceled…😂So there are a lot of problems and I cursed them a lot. But still, it is best if they survive.
What is going on lol. Who are you weirdos ?!?!? Who thinks like this ??? You seriously want to protect terrible people who are abusing YOU ? Is this the UK mind set ? Not surprised. 🥱😂🤦♂️
If China buys Fanatec, I'm definitely going somewhere else for my sim racing products.
All of this sucks, like a lot. I don't know who should be left with this company, but I do know this, if my DD1 breaks down, I'm just going to go and buy a Simagic Alpha or something.
Thomas Jackermeier
Trauma Team Racing made a video about this yesterday. Sim after, everyone follows and copies the content. 😂
That's OK, they've probably seen the interview/my reporting and giving their take on it 🙌🙌
@@KirethI first heard about it from your video wayyyy back in the fall.
@Nickearl1 honestly did you expect then we would end up here with a different CEO and all this bankruptcy stuff 🙃
Well, let me tell you, I uploaded my video on the matter on April, 28th. But @Kireth isn’t a German native speaker, so at least he couldn’t steal my content! 😂
@@Lacktausch brother you literally screen recorded my interview at Fanatec and uploaded it on your channel, I even got a copyright notification 😂
I think people just want there orders
Nothing new to see here which was not shared by other youtubers other than another clickbaity video title which really let's you seem to be incredibly arrogant...
Hello my friend, how is the vibe at Fanatec, are staff hoping Jackermeier returns?
You left out the adjustment report where it talks about abuse and using a specific indicator.
If you research that indicator it says companies routinely use this due to the fact it's often more generous then the actual numbers!
Meaning Fanatec saying 10-15% is probably closer to 20-25% losses
You can also find my post on the Fanatec forums calling for the owner and CEO to be removed 2 days before it happens!
It's clear what happened. Thomas misused funds! They intentionally committed fraud by taking people's black Friday payments/Orders knowing they don't have the products! While doing this they continue to advertise on Social media saying they have these products!
Fanatec committed multiple crimes across multiple countries! That's why Thomas was ousted!
Those products are now being sold on eBay with no Fanatec brand!
Thomas needs to be gone and he should face criminal charges.
That's what needs said! I'm surprised the regulatory agencies here in America hasn't hit Fanatec with various fines and restrictions.
I'd also like to point out, it appears thousands of orders have disappeared.
I truly believe Thomas embezzled the money
we just need to get Thomas Jackermeier back and we will get our stuff with time i honestly just want him back
Thomas should have stuck with supplying sim equipment instead of spending millions of euros sponsoring motoring and sim events.
If i was TJ i would walk as the shareholders sh@t on him once already.
He is the majority shareholder though. I'd imagine the hedge funds would cut sponsorship pretty sharpish
Hahaha. Yeah. I’m on the short side. Take the easy money. This is absurd Kireth. And I think you are a cool cat and great racer. But this is silly dude.
Not following, are you shorting Fanatec stock?
I’m risk averse. So I wouldn’t touch this as a company. But as a fan of fanatec, it’s dead.
@bradperon9154 that is a curious response to a legitimate question following your originating comment. If I was @Kireth, I'd be confused as f@#$ with this response.
Corsair will run thru all Ftec's cash , sell off HQ in record time. Broke by q4 25.
I don’t care who is in charge s long as my stuff works
Honestly I think this is the most important thing for most Fanatec customers
And turns up...
Boosted Media is definitely a shareholder
Bold claim, your source?
Yeah sure, a shareholder who's channel makes content sponsored by 2 of their biggest competitors, Asetek and Moza. Boosted Media is not a shareholder. They have affiliate links with almost every brand, not only Fanatec. Yes, Boosted media makes a lot of money, but they are very transparent about it.
Why would you say such nonsense? he hasn't made any comment on Fanatec in over four months...god the sim community can be such douchenozzles
I think they would have disclosed this, I imagine Will at Boosted will reply here to clarify 🙌🙌
@@Jeff-ne1lh go to Boosted Media community section. Theres a post from 4 days ago about fanatec, overall it gives a positive vibe....
Either way fanatec not delivering products people brought is scummy
UA-camrs in the first place broke Fanatec. Giving thousands in merchandise away to thousands of "UA-cam reviewers/sim racers" was never a good idea. You killed our sport, along with a great product! I hope you all pay dearly for this like those UA-cam crypto scammers!
Giving products to influencers can be a fantastic way of getting feedback on products and improving them for consumers. If there's no feedback loop back to the manufacturer, or the financial motivation to sell is too strong then that doesn't stand up as well
@@Kireth Knew you were gonna say that, and that's why we're here now.
Bro, i don't even know what am i watching this videos, when i don't even own a cero thing from fanatec 😅 i don't even have a steering wheel,direct drive, a cockpit or racing seat 🥲 y'all worried about a sim racing company while im worried about not having a single sim racing thing but my PS5 controller to play GT7 🥺🤣🤣🤣🤣🤣🤣🤣
Bro just along for the ride 😅
Over on the Fanatec Forum there was a post about this, And someone had this to say in one reply
'Some videos are accurate and objective, yes, some, especially from one UA-camr, are just clickbaity to get views...'
I soon as I read that I knew who they were talking about, You, You should be embarrassed that I believe it's you, Sorry, But some of your stuff has been so clickbaity, You talk a lot about your Thomas J interview, It was very poor, You gave him an easy ride, Your Fanatec Moza compatibility video was clickbait and horrendous at the same time, But your Nick Cassidy interview was very good, But then you do stuff like this .
You need to leave this Fanatec stuff alone, Your telling us things that can't be self investigated if 10 minutes but making out you have first-hand knowledge.
They simply must have been talking about a different UA-camr 👍
Lol😊
These are some slanderous accusations and very bold and irresponsible comments. It seems your videos are going in a downward spiral… The fact you keep on using the initial videos of their CEO and products In a bad light. At this point its almost defamation.
What specifically is almost defamation?
The title. In the US it’s maybe called “sensation news” or “clickbait”. In the EU putting a company in bad light can be considered defamation/slander and could get you in some trouble. I’m not in no way affiliated with any of the companies and have watched a lot of your videos so don’t take it personal.
Ah ok. Should I take all the videos down that talk about Fanatec being in financial trouble, because it puts them in a bad light?
What the hell are you talking about lol. My god people are soooooo stupid.
@@Kireth no not all. The content itself is great and people love the fact that you gather and report on it. As long as you’re objectively reporting this should never be an issue bringing the news! Thanks for the replies.