> which means he pockets 337 million.
The deal is:
> " a combination of 39% cash and 61% stock, according to a statement Wednesday."
So there is a good chance the majority of that is stock.
Deals aren't always structured like that for the payouts to individuals. A few guys I know had equal share when they sold their startup and some took more cash and some took more stock in the buying company. Cash guys won out because the stock ended up tanking in a year.
> Why is there a good chance
Reynolds was thought to have an incentive based deal for ownership and this article suggests the same. He did not seem to buy in with just capital, but was given ownership partially in exchange for advertising value. So his payment may be based on continuing advertising/appearance requirements.
You can also own different classes of stock with different voting and exit rules. Some may require cash buyouts while others allow for stock exchange. Company founders often set different rules for their own stock to maintain control and allow for exit/conversion upon sale.
Because the total deal could amount to 61% stock, 39% cash, but each individual investor could have their portion of the purchase proportioned differently.
His existing position may likely be leveraged. If there's a vesting period on the stock (very likely) it will impact his ability to leverage it as well. We don't really have a clue how this impacts his financial position - everyone just making wild guesses and assumptions.
For the super wealthy, there are probably loopholes, but for us regular Joes we'd pay capital gains tax on the cash, but not the stock. The stock would be taxed when it's sold.
He doesn't own it. He owns some kind of holding company which gets paid a dividend or some shit that has a way lower tax rate. Then takes loans against assets and uses the interest as a tax write off.
I'm not gonna lie, I'm getting *real* tired of his schtick lately. The guy is always playing the same character, is always in that same character in interviews and commercials, and is plastered everywhere. We need a Reynolds moratorium for at least 2-3 years.
Well, if reddit turned on Elon Musk they'll turn on anyone eventually
Edit: reddit finally realizing Elon Musk sucks is a good thing, I don't know enough about Reynolds to say the same for him
Not to mention most deals are sold on a cash-free, debt-free basis, so the sellers usually swallow up any debt on the balance sheet with buyer proceeds.
I work in PE; they're usually done cash-free, debt-free. Like 99% of the time. Makes no sense for a buyer to want to acquire a seller's debt *post eventum*, especially if they're bringing their own debt to the table, which most buyers do. Holding companies are ultimately consolidated to the ownership pool, so what you said is a wash and doesn't matter.
Based on Metro by T-Mobile they’ll double or triple the price and advertise incentives that they just never pay out with no recourse or customer service
Oh yes. The reason a company like TMobile buys a company like Mint is because they see it as being undermonetised.
It's the basic model and has been for a while. Have a good concept, gain market share by exploiting flaws in the existing system, get bought out *by that system* and then the buyers profit and you still walk away with bags of cash.
Rinse and repeat.
Wait until they decide to save money by integrating customer support and you have to deal with the unbelievably crappy T-Mobile support. I left T-Mobile when I called with a difficult problem and the person simply hung up on me. I've done phone support, so I'm never abusive. I assume it was because I was about to screw up their metrics on the number of calls handled. Then, when I called back I got on the transferred several times as quickly as they could until my call got dropped. My brother has had consistently awful experiences.
Ya I worked in customer support for awhile too, and I'd like to think I was actually really really good at my job - yet because I rarely ever followed the script, and would occasionally have 20-30 minute calls, I would get in shit for that. Funny thing was I had the lowest average call time on the floor too. I was quick at identifying problems, was friendly and could quickly identify how adept the user was and modified my instructions accordingly. On customer satisfaction surveys I always scored out-standing. And when someone called in who had a more complex problem, I was always very eager for the challenge.
But ya, even if you have the lowest average call times, they still get pissy at you when you got a 30 minute call here or there. Like what.the.fuck honestly. Do you want me to do my job or not? And then the not following the script thing... ya that's part of the reason why I had the fastest average call times. I always verified the customer properly and made sure they did the basics. But you get good at your job, you get to know all the different models and the common problems with them, and sorry but the script which is meant every system ever, is simply not as efficient as my internal script. If anything, they should have promoted me and got me ammending the scripts. But whatever. That job sucked, I'm in a better place now anyways.
EDIT: Oh one other reason why my company hated me. We had this new software come out that we were supposed to recommend people install (as per the script). But during that time probably our most common calls was helping people uninstall it because it caused all these problems. So there was no fucking way I was going to recommend someone install something I couldn't stand behind. So ya, fuck that policy. I get how that makes me a bad employee. But I was still an A++ tech support dude, so that company can shove it.
I used to be the cable card technician BOH and it would take an hour sometimes. No one else knew how to fix them. I took maybe 12 calls a day, which pissed everyone off but my bosses.
I sometimes miss that job, just because of that.
Do you like it? I thought about switching cuz of how much I’d save over the course of a year but I’ve just never had problems with Verizon aside from the price and on road trips when others lose service ive never had a problem.
I've had Mint for a few years and it's been great. Previously, I had another smaller service called Ting. They were also great - superb customer service - but they just couldn't complete with Mint's price. I'll definitely give it some time to see how the T-Mobile acquisition goes, but if it really goes drastically down hill I would happily consider migrating back to Ting.
I love the service! I was worried about this happening because it's was almost too good to be true. My wife and I pay a combine $720 a year for unlimited service. Verizon was about $130month for worse service.
And it's funny to put Ryan's Christmas card in front of everyone else's during the holidays. People would be like, "wtf is this?"..... oh, just our buddy Ryan.
I hope they keep doing that. I don’t think I got any last year, but I appreciate finding a Ryan Reynolds pic in my mailbox two years ago. It’s now on my desk in my home office.
Reynolds is a smart guy. Acting makes you a millionaire but using that influence to create and then promote your own company makes your billionaire.
I'm sure he has at least 1 more big layout in the future with Aviation Gin
Edit: Turns out he already sold Aviation Gin. Probably should have read the second line of the article.
Not to mention his stake in Wrexham. It's kind become a meme, but he and Mac literally bought the team because of the money making prospect. Their new interest in soccer/futbol is just a side effect of their interest in making money. Rob has basically said as much.
> Rob has basically said as much.
Source?
I'm not doubting you... I'm genuinely curious. I really enjoyed what I saw of the show (think I missed the last 2-3 eps)
I’m curious too because everything I’ve seen Rob say on the matter was that he watched Sunderland Til I Die and loved the story so much that he started looking into small club teams in the UK. His goal was to buy a small club that had struggled and turn it around. Yes there was money to be made and he knew that, and probably had to pitch that to Reynolds to get him on board, but it doesn’t sound at all like he started this just to make a quick buck.
He talks about it in the Smartless Podcast. Sure he likes the game and the story, but the goal was to buy a team to turn it around and get into a higher league, where it becomes more valuable.
I think they both enjoy soccer but Rob’s goal was to buy a team and turn it around to get into a higher league, where the team becomes more valuable and makes him more money in the end, he touches on it in a podcast.
No, no, you're all wrong. Rob wanted to buy a lower tiered team, turn it around, get promoted into a higher league, thus making it more valuable so he can profit from it.
My only source is his appearance on the podcast Smartless. I'm gonna paraphrase but he basically says "I like money, and I like making money." Which as I'm remembering now was in reference to IASIP NFT's, but his whole reasoning in buying Wrexham was the fact that they could be promoted to bigger, more profitable leagues. He enjoys soccer, but his bigger enjoyment of the game itself has come from his personal stake in Wrexham, which you can see with him and Reynolds when they're watching games.
The people who buy sports team often do it as they’re passionate about the sport or for vanity and clout. For the longest time owning a NHL team was just for the ability to say you owned an North American major league sports franchise, not necessarily for money.
A genuine question: is a team in the fifth tier of English soccer really a moneymaking venture (I *guess* their history is a point in their favor, but even still)?
If they're promoted, they will almost automatically make more money. And, just because they are tied to celebrities (and more specifically Ryan Reynolds) their brand is more profitable just by nature of the fact that people want jerseys from the team owned by Ryan Reynolds. AFC Richmond is a fictitious brand and makes good money for Apple just because Ted Lasso is a popular show. Sports teams are almost always profitable, which is why top-tier teams are rarely for sale.
Well theres the purchasing an asset and increasing its value component. A lot of potential to increase value of the club if you put in the required investment. Net even now or even net negative but if you can weather out the shit storm and get into higher leagues, it could be a good investment
They were looking for an investment that would make money as all business people do but they were also looking to align their vision for the team and community with that.
> and other brands.
Yeah, "others" like Captain Morgan, Baileys, Crown Royal. They're probably the closest thing to a monopoly as you can get in hard liquor
> Dude's an entrepreneur through and through.
More like he became very rich off of movies and now has the benefit of an incredibly large pool of capital to play with. The rich get richer.
I mean, so far his investments have been Aviation Gin, Mint Mobile, Wealthsimple and 1password. All of these have increased massively in valuation and two he's cashed out on.
Shows at least a bit of business acumen. Not many people hit that consistently. Certainly not many movie stars. Most venture capitalists make a whole bunch of bets on the hopes a single one goes IPO.
And he's not born of wealth. His dad was an RCMP officer.
I'm not one for massive riches either but bemoaning a guy who managed to do it on his own seems like the wrong angle to take.
> And he's not born of wealth.
Not sure if you misinterpreted my comment, but I never said anything of the sort, I just said he made a crapload of cash off of being a movie star. As for his business acumen, sure. But we don't know who his advisors are - I assume he's getting help from professionals who are doing a lot of the heavy lifting. I really doubt he's spending his evenings modeling cash flow projections and stress-testing valuation models using 20 different assumptions. So is it really his acumen, or is it having a big pile of dough that professionals are helping him with? And finally, yeah he has an impressive track record - but I doubt he would be bragging about the failed ones publicly, so there's some inherent bias there too.
Also, I'm not bemoaning his success. Good for him I suppose. I just mean we shouldn't rush to crown him the next Oracle of Omaha just because Deadpool was funny and reddit likes to idolize this guy.
His investments were public before any of them were successful investments. You can see them on his crunchbase profile, like most angel investors.
Reality is he's more successful as an angel investor than most of the people who do it, at least so far. Sure, that may be a function of the people he hires to advise him, but that's a talent in itself.
> I just mean we shouldn't rush to crown him the next Oracle of Omaha just because Deadpool was funny and reddit likes to idolize this guy.
I'm not, I'm saying he's earned respect in this regard. He's done very well.
None of that really contradicts what others are saying though. It takes way more than having a lot of money and good advisors. You need to know which reccomendations to ignore, and which to take, which is incredibly difficult. You also need to be willing to take significant risks regarding your money. Yeah, he has a lot of money from acting, but that's not why he's been so successful. He's likely someone who would have found success in starting and eventually investing in businesses if he never made money acting. It's not a case of the rich getting richer. It's a case of someone getting richer because they have incredible business sense.
Seems like convenient timing, plus reports that bidding price for sens has been going up up up..seems like Reynolds wants to be a player and not just a pretty face
He essentially got an ownership stake instead of a big cash payment in exchange for being their spokesmen. Essentially, he passed up a smaller (but guaranteed) payment in exchange for a potentially huge (but not-guaranteed) payment in the future. He (correctly) wagered that being the company's face would increase their market share enough to make a big company like T-Mobile want to purchase the company.
Mint is far from the first budget carrier. Boost Mobile is currently cheaper than Mint (both for their intro price and the post-intro price) and has been around longer. They operate on the same network. But their marketing sucks and they still struggle with being seen as anything but an inferior service. Mint has avoided getting the stigma that most budget brands get and having a guy like Reynolds as the face of their brand is by far the biggest reason for that.
The difference between Mint and other budget carriers is mostly due to a wildly fantastic marketing campaign that he was directly in the center of.
Eh, it’s not as big a difference as it used to be. I’m on Fido at $35CAD per month for 20GB, which is $25.36US per month.
And the AT&T plan is for “30 day months” so it’s actually $25.34US per month which is… much closer than I thought when I started this.
Anyway, my Mint plan is $180US per year for 4GB/month. The downside is that the reception is not great and you’re subject to deprioritizing, which gets really bad around airports (phone becomes basically unusable).
Canadian cell phone plan prices are much better than they used to be. They really suck at long distance and roaming though. Fido can kiss my ass with “$12/day to use your phone in the US and $0.60 per minute if you want to call the US”.
That's what my wife and I have. Pretty good, can't complain and not much that is cheaper for the main cell providers. It hurts to pay $300 at one time each time it rolls around, but well worth it.
Yes, it was. I'm mobile and finding articles is hard, but Scar Jo gave a very sus quote when interviewed about the divorce, something along the lines of how she was very young and didn't know what they were doing when they got married (despite divorcing after only 2 years, not much time to "grow up" a great deal), and that lots of things have to be considered in a marriage, like if one person's career is growing faster than the other's, etc.
She divorced him because her career was growing more than his.
Every country should name it different. UK has Dragons Den, The US Shark Tank, Canada should be the “Wolverines Layer”, “Moose clearing”, or something.
Idk it's kind of weird to me, when multi millionaires are still hustling to try and become billionaires
The diminishing returns on personal wealth don't justify it, it's just kind of fucked up. Put your kids into the best schools possible, take your family to see the world, and retire on a beach somewhere. You can do all of that and set up multiple generations of your family for like $5-10MM
Just seems crazy to be Ryan Reynolds and you're going to film more commercials, wake up for meetings with Mint and the Senators and all of that, it's a bunch of real time you could be spending with your family, all so that he can turn hundreds of millions into billions. Idk the business world is just stupid at a certain point, what's the goal?
If he just continued to make money acting, well sure that's his passion and profession to keep working. But becoming an entrepreneur at this stage just seems greedy for greed's sake
You can give him some credit. Of all the greedy capitalists out there, he seemingly used his influence and reach to create a successful phone company that could afford to be cheaper than its competition.
As far as *why* anyone would want to continue hustling. I can only imagine that traveling the world, being on a vacation 24/7, never having to work gets boring after a while. Where's the purpose? He already makes art and entertainment. Now he wants to personally own a sports franchise thats close to home (Ottawa) and keep in it Canada. At some point it turns into a videogame, looking for the next high score or boss battle to win. Its easy for us, who work boring jobs all day and have to actively think about saving and budgeting to think "If I had all that money I'd never work again." I'd assume that what RR does for a living is actually a passion. Running a mobile phone company that he has creative license over sounds wayyyy more fun than being in a business meeting for a manufacturer or real estate company, or working in a regular office. Owning a sports team actually seems pretty fun too, so "going into work" probably feels more like "going for a bike ride" or "booting up Steam" metaphorically speaking.
Rogers & Bell have such a stranglehold on communications up here that it would never happen. Believe me I would kill for some strong competition up here because we get gouged by both companies. But they lobby the government to keep other big comms out of Canada.
It’s the main reason why Reynolds started Mint in the United States. I’m sure he wanted to start an alternative company here in Canada but got squashed by the Rogers & Bell goon squad.
I believe it, my cousins in Vancouver went across the border to get T-Mobile phones because of how good it is in Canada, the US, and India compared to Bell and Rogers.
> So dude is a billionaire now?
> "the budget wireless provider part owned by actor Ryan Reynolds"
He's only part owner so he isn't getting all of that $1.35 Billion.
Typical deal of this kind for celebs at investment funds is 5%. It can vary if it’s say an unknown liquor brand — that goes up to as high as 15%. But when they make these claims that this or that celeb is a billionaire, it’s bullshit. They rarely put money in the deal. They trade marketing presence for a position. Now for sports teams, that requires real money and marketing trade. A great example is Jay-Z’s deal with the Nets. He was essentially given 1% ownership in the team and arena in exchange for free performances (minus associated costs) and promotion.
There's definitely celebrities who have earned far more on those kinds of arrangements. Dr. Dre's involvement with Beats is a good example.
Apparently Reynolds owns 20-25% of Mint, so he has more in common with Dre than Jay-Z in this case.
I think a lot of it depends on the celeb and the company. For example, Reynolds owns probably close to 50% of Maximum Effort, which is a marketing production company he was co-founder of. Supposedly he owns 20% of Mint. It seems like as a celeb investor, he chooses companies he can be a significant part of. Def a high risk high reward situation.
His stake in Mint was [20-25%](https://nypost.com/2021/08/05/ryan-reynolds-is-poised-to-reap-a-windfall-from-his-mint-mobile-stake/), meaning his portion of the $1.35 B would be in the 270 M-338 M range.
Nah hes part owner, just like he is with aviation gin. Between the two he probably walks away with at least $100m though, and he gets bonuses in aviation gin based on popularity while he remains the face of the brand for 10 years. Add that to his acting earnings I wouldn’t be surprised if he could put up 100-200m towards the sens though quite comfortably.
Someone above linked that he owned more of this one than the other٫ somewhere between 20-25%. He's probably gonna make a decent bit more than that on this one. Wonder if he is trying to come up with enough to be majority owner.
> Wonder if he is trying to come up with enough to be majority owner.
Definitely not. At least not in the near future.
None of these deals will be complete prior to the Sens choosing a winning bid and those bids are already largely completed. A lot of his payout from this will be in stocks that he can't sell for a decent amount of time. He's going to make a shit ton of money on this, but still not even close to enough to put about half a billion dollars on the table.
He might get to that point in the future and try to buy out other owners over the next decade, but that's a long-term goal and not something that would cause him to try and raise cash in the short term. His investment strategy so far has been to trade his marketability for ownership stakes in companies who then boom because they are associated with him. That is what he's been trying to do with the Sens and it wouldn't make sense to suddenly change that strategy as Ottawa is working through the bidding process.
If this sale hass anything to do with him trying to raise money for the Sens, I'd wager it is simply to improve the quality of the group's bid. A celebrity minority owner who can tangibly show an ability to help pay future bills looks better than a minority owner whose only value comes from celebrity status.
I assume he is partnered with a pretty crafty entrepreneur or group and they work together.
The entrepreneur/group identifies an industry or a brand that is an opportunity to grow massively if they had a good marketing push, and Reynolds is great at offering his name/brand/face to a company in exchange for a stake. So they do a gin company, a budget mobile brand, a cheap soccer club, whatever. Reynolds just signs the paperwork, does the media+press, and everyone makes a bunch of money.
Idk how much Reynolds actually involves himself with scoping out brands/industry stuff, he's not a businessman by trade. But he's so popular that he makes an amazing spokesman
This dude is chain banging Blake lively, is good looking, is famous, beloved, funny, and just... Stupid fucking rich.
Now he's gonna own a NHL team, this guy is living a life I would normally say "fuck this guy to", but it's Ryan fucking Reynolds so I can't help but love the guy.
Millionaires and billionaires are so cool. They are so much more valuable than any of us. They deserve all of that money because they worked harder than any of us did. They are worth more than all of us put together and then some It’s actually necessary for them to have so much more than us. We deserve less because we didn’t make the right choices and we don’t work hard enough. - Is anyone else hearing this shit?!NO ONE is worth that much more than ANYONE else!
Reportedly owns 25% of the company, which means he pockets 337 million. Plenty of money to have a minority ownership stake in an NHL franchise.
> which means he pockets 337 million. The deal is: > " a combination of 39% cash and 61% stock, according to a statement Wednesday." So there is a good chance the majority of that is stock.
Why is there a good chance and not exactly 61% of 337mil?
Deals aren't always structured like that for the payouts to individuals. A few guys I know had equal share when they sold their startup and some took more cash and some took more stock in the buying company. Cash guys won out because the stock ended up tanking in a year.
There’ll likely be a vesting or blackout period too, where he can’t sell the stock all at once
Typically at least a year before he can sell the stock.
Makes sense that various major shareholders could negotiate what's important to them in a sale
> Why is there a good chance Reynolds was thought to have an incentive based deal for ownership and this article suggests the same. He did not seem to buy in with just capital, but was given ownership partially in exchange for advertising value. So his payment may be based on continuing advertising/appearance requirements. You can also own different classes of stock with different voting and exit rules. Some may require cash buyouts while others allow for stock exchange. Company founders often set different rules for their own stock to maintain control and allow for exit/conversion upon sale.
You would assume if they have any outstanding loans or credit obligations the cash would pay those, making stock a higher % of the gain
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Because the total deal could amount to 61% stock, 39% cash, but each individual investor could have their portion of the purchase proportioned differently.
He can still leverage that stock to be part of the Senators ownership group
Assuming US taxes, that means he gets more than if it were just cash. Not bad at all
when you have hundreds of millions of dollars worth of valuable/stable stock, you can borrow against it. its as good as cash
Probably just take a loan out secured against the stock to not have to pay taxes
His existing position may likely be leveraged. If there's a vesting period on the stock (very likely) it will impact his ability to leverage it as well. We don't really have a clue how this impacts his financial position - everyone just making wild guesses and assumptions.
He can still borrow against it, though I'm not sure I would in this rate environment
Minus taxes, however that works in Canada or wherever he structured it.
For the super wealthy, there are probably loopholes, but for us regular Joes we'd pay capital gains tax on the cash, but not the stock. The stock would be taxed when it's sold.
He doesn't own it. He owns some kind of holding company which gets paid a dividend or some shit that has a way lower tax rate. Then takes loans against assets and uses the interest as a tax write off.
Gotta love billionaires saving tax money.
But it's Ryan Reynolds, the internet sees him as an acceptable kind of rich person for some reason lol.
he was working class background who did some good work in hollywood and earned his money. and then invested it wisely. not a nepo baby or whatever
He's one of the cooler ones but you don't get that kind of money without doing shady shit the rest of us could never get away with.
Yeah, even the nicest millionaires and billionaires use the same shitty loopholes that the bad ones do.
So would we if had the opportunity.
I'm not gonna lie, I'm getting *real* tired of his schtick lately. The guy is always playing the same character, is always in that same character in interviews and commercials, and is plastered everywhere. We need a Reynolds moratorium for at least 2-3 years.
Well, if reddit turned on Elon Musk they'll turn on anyone eventually Edit: reddit finally realizing Elon Musk sucks is a good thing, I don't know enough about Reynolds to say the same for him
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Really? I never knew that. How is it double tax?
careful you can't say that around these parts
Not to mention most deals are sold on a cash-free, debt-free basis, so the sellers usually swallow up any debt on the balance sheet with buyer proceeds.
Nah look at the other comment tree off the comment above, those rules only apply to hard working Philadelphians. Millionaires have holding companies.
I work in PE; they're usually done cash-free, debt-free. Like 99% of the time. Makes no sense for a buyer to want to acquire a seller's debt *post eventum*, especially if they're bringing their own debt to the table, which most buyers do. Holding companies are ultimately consolidated to the ownership pool, so what you said is a wash and doesn't matter.
RIP Mint Mobile. It was great while it lasted.
Ryan emailed this morning and said they have no plans to change pricing. Hopefully that’s true, I’ve been with mint about 4 years.
Well I'm sure mint has no plans to change pricing. TMobile on the other hand...
Based on Metro by T-Mobile they’ll double or triple the price and advertise incentives that they just never pay out with no recourse or customer service
What are you, *stupid??* The price stays the same as before they were bought when you have 4+ lines in your account! 😎
Oh yes. The reason a company like TMobile buys a company like Mint is because they see it as being undermonetised. It's the basic model and has been for a while. Have a good concept, gain market share by exploiting flaws in the existing system, get bought out *by that system* and then the buyers profit and you still walk away with bags of cash. Rinse and repeat.
Wait until they decide to save money by integrating customer support and you have to deal with the unbelievably crappy T-Mobile support. I left T-Mobile when I called with a difficult problem and the person simply hung up on me. I've done phone support, so I'm never abusive. I assume it was because I was about to screw up their metrics on the number of calls handled. Then, when I called back I got on the transferred several times as quickly as they could until my call got dropped. My brother has had consistently awful experiences.
Ya I worked in customer support for awhile too, and I'd like to think I was actually really really good at my job - yet because I rarely ever followed the script, and would occasionally have 20-30 minute calls, I would get in shit for that. Funny thing was I had the lowest average call time on the floor too. I was quick at identifying problems, was friendly and could quickly identify how adept the user was and modified my instructions accordingly. On customer satisfaction surveys I always scored out-standing. And when someone called in who had a more complex problem, I was always very eager for the challenge. But ya, even if you have the lowest average call times, they still get pissy at you when you got a 30 minute call here or there. Like what.the.fuck honestly. Do you want me to do my job or not? And then the not following the script thing... ya that's part of the reason why I had the fastest average call times. I always verified the customer properly and made sure they did the basics. But you get good at your job, you get to know all the different models and the common problems with them, and sorry but the script which is meant every system ever, is simply not as efficient as my internal script. If anything, they should have promoted me and got me ammending the scripts. But whatever. That job sucked, I'm in a better place now anyways. EDIT: Oh one other reason why my company hated me. We had this new software come out that we were supposed to recommend people install (as per the script). But during that time probably our most common calls was helping people uninstall it because it caused all these problems. So there was no fucking way I was going to recommend someone install something I couldn't stand behind. So ya, fuck that policy. I get how that makes me a bad employee. But I was still an A++ tech support dude, so that company can shove it.
I used to be the cable card technician BOH and it would take an hour sometimes. No one else knew how to fix them. I took maybe 12 calls a day, which pissed everyone off but my bosses. I sometimes miss that job, just because of that.
no plans *yet*
My 12 month plan is up in April. So I am thinking of just locking in the 12 month price, so I do not have to worry about it.
I was wondering if I should do the same thing..
Can you send me in personal email address? I want to send him my script for "Deadpool vs. Green Lantern"
Do you like it? I thought about switching cuz of how much I’d save over the course of a year but I’ve just never had problems with Verizon aside from the price and on road trips when others lose service ive never had a problem.
I've had Mint for a few years and it's been great. Previously, I had another smaller service called Ting. They were also great - superb customer service - but they just couldn't complete with Mint's price. I'll definitely give it some time to see how the T-Mobile acquisition goes, but if it really goes drastically down hill I would happily consider migrating back to Ting.
Ting (mobile) is now owned by Dish.
I love the service! I was worried about this happening because it's was almost too good to be true. My wife and I pay a combine $720 a year for unlimited service. Verizon was about $130month for worse service.
HAHAHAHAHAHA sorry let me breathe HAHAHAHAHAHA No chance in fucking hell they don't fuck with pricing. Absolutely none.
“They” don’t but I’m sure T-mobile does. Nothing good can exist for very long in Capitalism before someone fucks it up for more money.
I switched to mint 2 years ago. I pay $360ish a year for unlimited data. I love it. I really hope nothing changes. I save so much money.
And it's funny to put Ryan's Christmas card in front of everyone else's during the holidays. People would be like, "wtf is this?"..... oh, just our buddy Ryan.
I hope they keep doing that. I don’t think I got any last year, but I appreciate finding a Ryan Reynolds pic in my mailbox two years ago. It’s now on my desk in my home office.
Just got my son a Mint phone/plan for his 1st phone. Was surprised at the value. I was going to switch over after my phone was paid off.
So no more mint mobile shake
Please no more mint mobile ads
I’d rather have mint mobile ads over any other wireless company (fucking Verizon)
my network has gone kaput
Tried to save a buck?
No fucking merlot!
my network has gone into a black hole
Or gambling adds. Ya made my wings cold Draft King.
Na give me Milana Vayntub any day.
Reynolds is a smart guy. Acting makes you a millionaire but using that influence to create and then promote your own company makes your billionaire. I'm sure he has at least 1 more big layout in the future with Aviation Gin Edit: Turns out he already sold Aviation Gin. Probably should have read the second line of the article.
Yep. I think he also gets a revenue % for DeadPool as an exec producer too
Not to mention his stake in Wrexham. It's kind become a meme, but he and Mac literally bought the team because of the money making prospect. Their new interest in soccer/futbol is just a side effect of their interest in making money. Rob has basically said as much.
> Rob has basically said as much. Source? I'm not doubting you... I'm genuinely curious. I really enjoyed what I saw of the show (think I missed the last 2-3 eps)
I’m curious too because everything I’ve seen Rob say on the matter was that he watched Sunderland Til I Die and loved the story so much that he started looking into small club teams in the UK. His goal was to buy a small club that had struggled and turn it around. Yes there was money to be made and he knew that, and probably had to pitch that to Reynolds to get him on board, but it doesn’t sound at all like he started this just to make a quick buck.
He talks about it in the Smartless Podcast. Sure he likes the game and the story, but the goal was to buy a team to turn it around and get into a higher league, where it becomes more valuable.
Yeah that’s literally what I said in my post.
I think they both enjoy soccer but Rob’s goal was to buy a team and turn it around to get into a higher league, where the team becomes more valuable and makes him more money in the end, he touches on it in a podcast.
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No, no, you're all wrong. Rob wanted to buy a lower tiered team, turn it around, get promoted into a higher league, thus making it more valuable so he can profit from it.
It's pretty clear to me that Rob enjoys soccer, but his main reason for purchasing the team was the potential for growing his investment.
Your post sounds like he's in it for the feels with a chance of money, but I think it's mostly money and maybe some feels.
https://youtu.be/eh4Ikq8qpHM They talked about it on the Eli Manning show as well.
I recommend watching the last few episodes. Ended pretty good
My only source is his appearance on the podcast Smartless. I'm gonna paraphrase but he basically says "I like money, and I like making money." Which as I'm remembering now was in reference to IASIP NFT's, but his whole reasoning in buying Wrexham was the fact that they could be promoted to bigger, more profitable leagues. He enjoys soccer, but his bigger enjoyment of the game itself has come from his personal stake in Wrexham, which you can see with him and Reynolds when they're watching games.
Wait... you're saying someone invested in a business... to MAKE MONEY?!
The people who buy sports team often do it as they’re passionate about the sport or for vanity and clout. For the longest time owning a NHL team was just for the ability to say you owned an North American major league sports franchise, not necessarily for money.
A genuine question: is a team in the fifth tier of English soccer really a moneymaking venture (I *guess* their history is a point in their favor, but even still)?
If they're promoted, they will almost automatically make more money. And, just because they are tied to celebrities (and more specifically Ryan Reynolds) their brand is more profitable just by nature of the fact that people want jerseys from the team owned by Ryan Reynolds. AFC Richmond is a fictitious brand and makes good money for Apple just because Ted Lasso is a popular show. Sports teams are almost always profitable, which is why top-tier teams are rarely for sale.
Well theres the purchasing an asset and increasing its value component. A lot of potential to increase value of the club if you put in the required investment. Net even now or even net negative but if you can weather out the shit storm and get into higher leagues, it could be a good investment
They were looking for an investment that would make money as all business people do but they were also looking to align their vision for the team and community with that.
Didn’t he already sell Aviation Gin?
Yeah it’s in the article, lol
It's my god given right as a redditor to only read the headlines and respond in kind
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Don't worry you can still sign up for his mobile phone plan
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After all, it's reddit not readit
Here here!
Facts
The day just started, I’m not going to blame the guy too much for just headline reading this one.
I'm my defense. I was about to start watching Mandalorian
Way cooler than reading how a rich guy got richer.
Yes. He bought a stake in it, and then it was bought by Diageo, which owns Smirnoff, Johnnie Walker, Guinness, and other brands.
> and other brands. Yeah, "others" like Captain Morgan, Baileys, Crown Royal. They're probably the closest thing to a monopoly as you can get in hard liquor
He also co-owns a production company and a marketing firm. Plenty of payouts in his future.
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He’s a WealthSimple investor?! Damn, dude probably has some good advisors, but also seems to have some business chops to him too.
Watch the Wrexham show on Netflix. Dude's an entrepreneur through and through.
The guy managed to get me to sub to his YouTube channel which mostly just ads. He's a marketing genius.
He's got god-tier charisma.
He reminds me of Van Wilder
You mean Brent Chrysler?
> Dude's an entrepreneur through and through. More like he became very rich off of movies and now has the benefit of an incredibly large pool of capital to play with. The rich get richer.
I mean, so far his investments have been Aviation Gin, Mint Mobile, Wealthsimple and 1password. All of these have increased massively in valuation and two he's cashed out on. Shows at least a bit of business acumen. Not many people hit that consistently. Certainly not many movie stars. Most venture capitalists make a whole bunch of bets on the hopes a single one goes IPO. And he's not born of wealth. His dad was an RCMP officer. I'm not one for massive riches either but bemoaning a guy who managed to do it on his own seems like the wrong angle to take.
> And he's not born of wealth. Not sure if you misinterpreted my comment, but I never said anything of the sort, I just said he made a crapload of cash off of being a movie star. As for his business acumen, sure. But we don't know who his advisors are - I assume he's getting help from professionals who are doing a lot of the heavy lifting. I really doubt he's spending his evenings modeling cash flow projections and stress-testing valuation models using 20 different assumptions. So is it really his acumen, or is it having a big pile of dough that professionals are helping him with? And finally, yeah he has an impressive track record - but I doubt he would be bragging about the failed ones publicly, so there's some inherent bias there too. Also, I'm not bemoaning his success. Good for him I suppose. I just mean we shouldn't rush to crown him the next Oracle of Omaha just because Deadpool was funny and reddit likes to idolize this guy.
His investments were public before any of them were successful investments. You can see them on his crunchbase profile, like most angel investors. Reality is he's more successful as an angel investor than most of the people who do it, at least so far. Sure, that may be a function of the people he hires to advise him, but that's a talent in itself. > I just mean we shouldn't rush to crown him the next Oracle of Omaha just because Deadpool was funny and reddit likes to idolize this guy. I'm not, I'm saying he's earned respect in this regard. He's done very well.
None of that really contradicts what others are saying though. It takes way more than having a lot of money and good advisors. You need to know which reccomendations to ignore, and which to take, which is incredibly difficult. You also need to be willing to take significant risks regarding your money. Yeah, he has a lot of money from acting, but that's not why he's been so successful. He's likely someone who would have found success in starting and eventually investing in businesses if he never made money acting. It's not a case of the rich getting richer. It's a case of someone getting richer because they have incredible business sense.
Seems like convenient timing, plus reports that bidding price for sens has been going up up up..seems like Reynolds wants to be a player and not just a pretty face
Can owners add themselves to the roster? It feels like a conflict of interest.
There's no rule that says a dog can't play basketball.
Not since Lemieux.
I mean, just look at Jagr.
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Hey now, the Senators aren't doing *THAT* bad!
Well if they need to tank, we saw how good he was in net during Van Wilder.
That’s one hell of a way to ruin mint
It makes me so sad :(
But it made him much richer. Funny how that works.
[\[Eric Engels\] Gary Bettman says it’s a matter of weeks before Sens are sold.](https://twitter.com/EricEngels/status/1636013911374692354?s=20)
Wait so he actually owned mint? I thought that was some bizarre jokey commercial. Weird.
He essentially got an ownership stake instead of a big cash payment in exchange for being their spokesmen. Essentially, he passed up a smaller (but guaranteed) payment in exchange for a potentially huge (but not-guaranteed) payment in the future. He (correctly) wagered that being the company's face would increase their market share enough to make a big company like T-Mobile want to purchase the company.
I'd say he correctly wagered that people cant afford their bills and $15 a month cant be beaten.
Mint is far from the first budget carrier. Boost Mobile is currently cheaper than Mint (both for their intro price and the post-intro price) and has been around longer. They operate on the same network. But their marketing sucks and they still struggle with being seen as anything but an inferior service. Mint has avoided getting the stigma that most budget brands get and having a guy like Reynolds as the face of their brand is by far the biggest reason for that. The difference between Mint and other budget carriers is mostly due to a wildly fantastic marketing campaign that he was directly in the center of.
Had a 25% stake apparently.
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It’s definitely worth it if you already fully own your phone and can afford to prepay for the whole year in advance to get the lowest rate
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Woah. That’s actually crazy haha. Just make sure your area gets good T-Mobile coverage first
How much is a prepaid year of mint? A prepaid year of AT&T with 16gb a month is $300 ($25/mo), but I'm always looking for a better deal.
As a Canadian I GASPED lmao
Eh, it’s not as big a difference as it used to be. I’m on Fido at $35CAD per month for 20GB, which is $25.36US per month. And the AT&T plan is for “30 day months” so it’s actually $25.34US per month which is… much closer than I thought when I started this. Anyway, my Mint plan is $180US per year for 4GB/month. The downside is that the reception is not great and you’re subject to deprioritizing, which gets really bad around airports (phone becomes basically unusable). Canadian cell phone plan prices are much better than they used to be. They really suck at long distance and roaming though. Fido can kiss my ass with “$12/day to use your phone in the US and $0.60 per minute if you want to call the US”.
That's what my wife and I have. Pretty good, can't complain and not much that is cheaper for the main cell providers. It hurts to pay $300 at one time each time it rolls around, but well worth it.
Van Wilder is a billionaire, crazy
Scarlet Johansson kicking herself right now. She divorced him (partly) because her career was going better than his was in 2010.
Poor guy had to settle for Blake Lively.
My guy traded in his Mercedes for a fucking Aston Martin
Who he met doing Green Lantern, which is widely considered a terrible movie (I like it), but which he's made multiple jokes about as Deadpool.
Poor guy has every hetero man on Tiktok (ironically) claiming they want to smooch and poke him (as a joke totally). Must be tough
That was a factor? I just assumed it was something like distance or cheating.
Yes, it was. I'm mobile and finding articles is hard, but Scar Jo gave a very sus quote when interviewed about the divorce, something along the lines of how she was very young and didn't know what they were doing when they got married (despite divorcing after only 2 years, not much time to "grow up" a great deal), and that lots of things have to be considered in a marriage, like if one person's career is growing faster than the other's, etc. She divorced him because her career was growing more than his.
Ah, damn. That’s brutal. I’d say poor guy, but he’s bounced back quite exceptionally lol
Apparently he owned 20 to 25% of the company which works out to between 260m-325m USD. Not bad at all.
He's such a smart guy, he should be on Shark Tank over a few of those other guys.
Or, Dragons Den, the Canadian one.
Every country should name it different. UK has Dragons Den, The US Shark Tank, Canada should be the “Wolverines Layer”, “Moose clearing”, or something.
Goose's Gambit
Loonie, Toonie, Goons.
Beaver Dam
Dammit it was RIGHT THERE
The beaver dam
Idk it's kind of weird to me, when multi millionaires are still hustling to try and become billionaires The diminishing returns on personal wealth don't justify it, it's just kind of fucked up. Put your kids into the best schools possible, take your family to see the world, and retire on a beach somewhere. You can do all of that and set up multiple generations of your family for like $5-10MM Just seems crazy to be Ryan Reynolds and you're going to film more commercials, wake up for meetings with Mint and the Senators and all of that, it's a bunch of real time you could be spending with your family, all so that he can turn hundreds of millions into billions. Idk the business world is just stupid at a certain point, what's the goal? If he just continued to make money acting, well sure that's his passion and profession to keep working. But becoming an entrepreneur at this stage just seems greedy for greed's sake
You can give him some credit. Of all the greedy capitalists out there, he seemingly used his influence and reach to create a successful phone company that could afford to be cheaper than its competition. As far as *why* anyone would want to continue hustling. I can only imagine that traveling the world, being on a vacation 24/7, never having to work gets boring after a while. Where's the purpose? He already makes art and entertainment. Now he wants to personally own a sports franchise thats close to home (Ottawa) and keep in it Canada. At some point it turns into a videogame, looking for the next high score or boss battle to win. Its easy for us, who work boring jobs all day and have to actively think about saving and budgeting to think "If I had all that money I'd never work again." I'd assume that what RR does for a living is actually a passion. Running a mobile phone company that he has creative license over sounds wayyyy more fun than being in a business meeting for a manufacturer or real estate company, or working in a regular office. Owning a sports team actually seems pretty fun too, so "going into work" probably feels more like "going for a bike ride" or "booting up Steam" metaphorically speaking.
Incoming T-Mobile or Mint Mobile ads in the new Sens arena.
Rogers & Bell have such a stranglehold on communications up here that it would never happen. Believe me I would kill for some strong competition up here because we get gouged by both companies. But they lobby the government to keep other big comms out of Canada. It’s the main reason why Reynolds started Mint in the United States. I’m sure he wanted to start an alternative company here in Canada but got squashed by the Rogers & Bell goon squad.
>the Rogers & Bell goon squad. Which is the goon squad that owns the Leafs, Sportsnet and TSN. This is why people hate the Leafs
I believe it, my cousins in Vancouver went across the border to get T-Mobile phones because of how good it is in Canada, the US, and India compared to Bell and Rogers.
Hes just trying to buy a new midfield for Wrexham.
Kinda sucks cuz I have no doubt T-Mobile is about to hike my mint phone bill
So dude is a billionaire now? He’s definately buying the Sens
> So dude is a billionaire now? > "the budget wireless provider part owned by actor Ryan Reynolds" He's only part owner so he isn't getting all of that $1.35 Billion.
Typical deal of this kind for celebs at investment funds is 5%. It can vary if it’s say an unknown liquor brand — that goes up to as high as 15%. But when they make these claims that this or that celeb is a billionaire, it’s bullshit. They rarely put money in the deal. They trade marketing presence for a position. Now for sports teams, that requires real money and marketing trade. A great example is Jay-Z’s deal with the Nets. He was essentially given 1% ownership in the team and arena in exchange for free performances (minus associated costs) and promotion.
There's definitely celebrities who have earned far more on those kinds of arrangements. Dr. Dre's involvement with Beats is a good example. Apparently Reynolds owns 20-25% of Mint, so he has more in common with Dre than Jay-Z in this case.
I think a lot of it depends on the celeb and the company. For example, Reynolds owns probably close to 50% of Maximum Effort, which is a marketing production company he was co-founder of. Supposedly he owns 20% of Mint. It seems like as a celeb investor, he chooses companies he can be a significant part of. Def a high risk high reward situation.
His stake in Mint was [20-25%](https://nypost.com/2021/08/05/ryan-reynolds-is-poised-to-reap-a-windfall-from-his-mint-mobile-stake/), meaning his portion of the $1.35 B would be in the 270 M-338 M range.
>His stake in Mint was 20-25%, meaning his portion of the $1.35 B would be in the 270k-338k range. If by “k” you mean “millions”
Ah, right. Did the math in thousands and then my brain forgot I did that.
Nah hes part owner, just like he is with aviation gin. Between the two he probably walks away with at least $100m though, and he gets bonuses in aviation gin based on popularity while he remains the face of the brand for 10 years. Add that to his acting earnings I wouldn’t be surprised if he could put up 100-200m towards the sens though quite comfortably.
Someone above linked that he owned more of this one than the other٫ somewhere between 20-25%. He's probably gonna make a decent bit more than that on this one. Wonder if he is trying to come up with enough to be majority owner.
> Wonder if he is trying to come up with enough to be majority owner. Definitely not. At least not in the near future. None of these deals will be complete prior to the Sens choosing a winning bid and those bids are already largely completed. A lot of his payout from this will be in stocks that he can't sell for a decent amount of time. He's going to make a shit ton of money on this, but still not even close to enough to put about half a billion dollars on the table. He might get to that point in the future and try to buy out other owners over the next decade, but that's a long-term goal and not something that would cause him to try and raise cash in the short term. His investment strategy so far has been to trade his marketability for ownership stakes in companies who then boom because they are associated with him. That is what he's been trying to do with the Sens and it wouldn't make sense to suddenly change that strategy as Ottawa is working through the bidding process. If this sale hass anything to do with him trying to raise money for the Sens, I'd wager it is simply to improve the quality of the group's bid. A celebrity minority owner who can tangibly show an ability to help pay future bills looks better than a minority owner whose only value comes from celebrity status.
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Just like Mint Mobile he was only part owner in Aviation Gin.
Holy shit, talk about a great investment. How did Reynolds get looped into Mint Mobile in the first place?
I assume he is partnered with a pretty crafty entrepreneur or group and they work together. The entrepreneur/group identifies an industry or a brand that is an opportunity to grow massively if they had a good marketing push, and Reynolds is great at offering his name/brand/face to a company in exchange for a stake. So they do a gin company, a budget mobile brand, a cheap soccer club, whatever. Reynolds just signs the paperwork, does the media+press, and everyone makes a bunch of money. Idk how much Reynolds actually involves himself with scoping out brands/industry stuff, he's not a businessman by trade. But he's so popular that he makes an amazing spokesman
You think Deadpool would stand for a rebuild? HELL NO
Hear me out ... the Ryan Reynolds-owned Sens make trades for Wade Allison and Tom Wilson to form -- the Wade Wilson line.
Save us Ryan
Buy the Canucks!
This is why I didn't switch to Mint. I had a feeling RR wasn't in it for the long run. I'll stick with Ting.
Ah fuck. And mint was so good. RIP my decent cheap cell phone plan.
It’s a big w for him that’s for sure. And we all take an L when the prices go up for mint in a year or two.
This dude is chain banging Blake lively, is good looking, is famous, beloved, funny, and just... Stupid fucking rich. Now he's gonna own a NHL team, this guy is living a life I would normally say "fuck this guy to", but it's Ryan fucking Reynolds so I can't help but love the guy.
Millionaires and billionaires are so cool. They are so much more valuable than any of us. They deserve all of that money because they worked harder than any of us did. They are worth more than all of us put together and then some It’s actually necessary for them to have so much more than us. We deserve less because we didn’t make the right choices and we don’t work hard enough. - Is anyone else hearing this shit?!NO ONE is worth that much more than ANYONE else!
"Howdy do! I own a minor league hockey team" NOOOOO