00:00:00.000you had watched the coffee zilla piece and were convinced by it on bricks and minifigs and oh my
00:00:06.500god i thought that you with your business background would immediately see what he was
00:00:11.700getting wrong what was he getting wrong so there were two big things he got wrong the the really
00:00:17.380big glaring one is when he said the previous owner sold some of the sets without sending the
00:00:24.240money to the guy right and yet we see from her own words when they're doing the transition of
00:00:31.260ownership she goes yeah i'm worried about yeah you're gonna they're like we're gonna have some
00:00:36.360that's gonna get handled by someone else no no but she wasn't worried about the inventory
00:00:41.380she she was worried more about closing out the accounts or these are ones that haven't he has
00:00:48.200not been paid this percentage yet and if i don't have the tickets i won't know how much i need to
00:00:53.760pay that that's a business thing and not necessarily you are just taking on the business
00:00:59.260he takes on all that what's extremely funny about this piece in retrospect is you can see that the
00:01:04.620person if not the ceo at least somebody at bricks and minifigs properly understood the law that when
00:01:10.060you buy a business you take on accounts payable what that means in business speak is she knew
00:01:15.920part of the money that was meant to go to him had been unpaid and she's like i need to go over my
00:01:20.920note she even specifically says i need to go over my notes to see those amounts and then they say
00:01:25.780no we'll take on that responsibility this is a normal thing in business this isn't her being
00:01:31.300shady it's not like well that's when you acquire a company if it is not an asset acquisition if
00:01:37.700it's a stock acquisition you also acquire their liabilities and that one of my abilities is your
00:01:43.720accounts payable and that is accounts payable yeah that's that's accounts this is the most
00:01:48.500101 thing in business and you were like oh there weren't that many legos in the store because
00:01:52.860she had sold some before and it's like that doesn't that doesn't matter and then the second
00:01:57.400what coffeezilla said is that i thought was most notable was that the amount that sort of pending
00:02:02.620was much smaller than people thought it's more like in the twenty thousand dollars that's because
00:02:06.060he wasn't including the accounts payable in the amount i thought that's what the amount was
00:02:11.000he was talking about the physical sets that were still in the store because he didn't seem to
00:02:16.340understand accounts payable that can't be that's too obvious no it's obvious to you because you're
00:02:24.440a business person he very clearly if you watch the piece and he was calculating the amount of
00:02:29.380money that he said bricks and minifigs owed the guy he just did an addition of all of the sets
00:02:35.060he could find in their inventory he didn't include accounts payable which would have
00:02:39.440from what we're hearing maybe doubled that amount
00:02:42.040so that was the first thing i just figured if that was the case then they would have included
00:02:48.720featured prominently in that particular investigative episode coffee zilla i mean
00:02:53.240like she would say and the accounts payable amount was like 34 000 she literally says that
00:03:00.800she goes i need to check my records so i can settle accounts with the people who have i know
00:03:06.640from the recorded clip but she doesn't say how much that was in in the subsequent interview0.97
00:03:10.560that she would have stated that amount because she's being an idiot but in the when she's having0.95
00:03:16.380the store taken over she literally says i need to settle the account implying there's a large0.97
00:03:21.420amount of accounts payable specifically to him because why has no one stated that amount
00:03:26.880when we did our first episode people were like malcolm it's crazy that you saw things in this0.81
00:03:31.960case that i just didn't understand i think a lot of people are just tards simone that's that's the0.99
00:03:37.040Well, no, but I mean, at the very least, oh, I guess the Brian, the original owner, would not know the amounts because he wouldn't have been aware of what was sold.0.93
00:03:47.180Do you think Ben or Brian understand what accounts payable is?
00:03:51.480Yes, I imagine they do, but I also imagine they couldn't know.
00:03:55.680Because if I've given something to a shop for consignment, I don't know in any given day what has sold and what hasn't.
00:04:01.440Yes, which is why she said, I need to check my record.
00:04:04.600Just so you understand why the law works this way. Imagine if the law didn't work this way and accounts payable magically disappeared or was transferred to the old owner of a business whenever the business changed hands.
00:04:18.160Now, keep in mind, the owner of a business can be a business or not a specific individual.
00:04:24.840So suppose one individual accrues a large amount of accounts payable in a business,
00:04:30.800and they just then transfer that business to themselves for like a $1 sale, right?
00:04:36.740And they say, oh, all the money that I owed people with this business,
00:04:40.700no, let's not say themselves, let's say their brother.
00:04:42.760They say, oh, all the money this business owed immediately disappears because it transferred0.98
00:04:47.720hands that would be completely stupid that would be like the easiest business trickaroo in the0.94
00:04:53.120world like it's very obvious why you cannot have the law work this way and the second thing that0.99
00:04:58.280really annoyed me that we can go further on is they keep focusing on whether or not should they
00:05:02.640she had the right to enter into the consignment deal which is just totally irrelevant to any of
00:05:08.740the facts of the case whether or not she had that so think of it this way simone suppose i own a
00:05:15.900garage, right? Well, let's, let's make this different. I'm leasing a garage from somebody
00:05:21.340else. Okay. To make this even clearer. And then I use the garage I'm leasing in violation of the
00:05:29.020terms of my lease to do what do you call that? Where you like pay somebody to park your car for
00:05:35.080you at like restaurants. I don't know the term you pay somebody at a restaurant. Valet. Okay. Yes.
00:05:40.240so i use it for valet storage in violation of the agreement right then the owner comes back
00:05:48.140and they go you didn't have the right to run valet service here so then what they do is they
00:05:55.380take possession of because i'm only subleasing the asset right they retake possession of the
00:06:01.080garage and then they turn around and start selling all of the cars like you parked a ferrari and
00:06:08.060they're like so this is mine now yeah they're like this is that is not remotely how the law works
00:06:13.840you don't take possession of an asset just because it's in a location that you took possession of
00:06:21.720again to understand why it would be comical for the law to work this way suppose i owned a storage
00:06:27.920locker that i rented to someone and then the moment they moved in all their stuff i then went
00:06:33.200to my brother and i sold the storage locker to my brother and then he now said now i own everything
00:06:38.700in the storage locker or i own a hotel and i wait until a bunch of really rich people come there for
00:06:45.360a trip and then i sell it to somebody and now they own everything all you would need to do to
00:06:52.060legally steal stuff from somebody is to own something where you expected something of high
00:06:57.340value to go across and then immediately sell it to somebody who you're close with the moment the
00:07:03.780person with high value walks across a five-foot square of land that you own yeah i wonder how the
00:07:09.380law works with that like if someone puts stolen goods or like someone else's no it's not how the
00:07:18.260law it's the clear okay so suppose i walk into a building and i set a a diamond ring i own on a
00:07:24.960table in the building and then that building sells the person who buys the building doesn't
00:07:29.960own my diamond ring there's no finders keepers law that's not remotely how it works that wasn't
00:07:36.580included in the assets of the purchase it wasn't and this is all laid out when you make a purchase
00:07:41.620of a company yeah but yeah sorry that really gets me as well but how does u.s law work with
00:07:48.840ownership of lost items for example if i lose a diamond ring at a restaurant and someone picks
00:07:54.420it up are they legally in trouble for not giving it back to me if i return to the restaurant and
00:08:00.800say what does that have to do with anything i'm just curious about it because now i'm just curious
00:08:07.660about finders keepers law it's not a lot it's not a lot i'm just wondering like this is i mean it's
00:08:12.660clearly how the bricks and minifigs guys think the law works the principle of finders keepers
00:08:18.300so basically property is yours unless you abandon it a finder generally has a right to possess an
00:08:24.880item that is good against everyone except the true owner okay so there is kind of a finder's
00:08:31.000keeper but they have to give it back to the true owner if the owner can prove owners so there kind
00:08:35.600of is a finder's keeper's law no if the owner can prove ownership which the original contract
00:08:41.180proves that the person that yes no 100 yeah yeah with with bricks and minifigs of course that's
00:08:46.480that's obvious didn't have ownership yeah and then it's a civil issue if you refuse to give it back
00:08:54.160interesting many systems distinguish lost from mislaid aka like deliberately set down or
00:09:03.260forgotten property left on the premises is often treated as mislaid oh law is so interesting i
00:09:09.840totally can understand why that one famous housewife women right to work like female equality1.00
00:09:16.240what was her name she's a difficult to pronounce unflattering style name who became a lawyer1.00
00:09:21.840note here while i say i don't hold it against coffeezilla for not understanding accounts payable
00:09:29.320maybe he did understand it and it just slipped his mind in this case because he has done really
00:09:33.280complex financial stuff in some of his other videos so it's it's almost sort of baffling to
00:09:38.200me that this wasn't just like immediately top of mind for him but maybe he knows what accounts
00:09:44.100payable is he just doesn't know what happens with accounts payable during a business transaction
00:09:47.640like even if she was being shady even if the accounts payable she had had accrued for
00:09:52.780a year or two years it would still transfer to bricks and minifigs it's it's irrelevant
00:09:59.920although it appears very clearly that she wasn't being shady because she specifically asked for
00:10:05.220her books before being kicked out to ensure that she did make the payments to him or these are
00:10:10.400ones that haven't he has not been paid this percentage yet and if i don't have the tickets
00:10:15.580i won't know how much i need to pay that's a business thing and not necessarily you are
00:10:21.040taking on the business he takes on all that because very few people simone and i have bought
00:10:26.220businesses before that was our job in the past to buy and sell businesses which is why this is so
00:10:32.140incredibly salient for us and just seems like the simplest thing in the world which it should
00:10:36.940have been for the bricks and minifigs corporation and it seems to have been because when the guy
00:10:40.800was making the transaction he explained to her accurately when you do a acquisition we take on
00:10:46.820the accounts payable that's a business thing as he said you know that's a you know simple
00:10:51.260understanding second here is it's not that a coffeezilla did nothing in their video they did
00:10:56.320some really cool work it was really cool when they showed the guy that he had all the stuff
00:11:00.280in his own corporate records from his own corporate google drive and the guy was like what
00:11:04.980and then oh my god that's so cool the u-haul thing was really neat see the window but the
00:11:10.080problem is it's night outside so you can't see and so i'm looking at everything i can and there's
00:11:15.480just nothing you know i have this alternate angle i'm looking at that and then wait a minute zoom
00:11:22.840in on that photo bring up the brightness of this photo a little bit and my gosh there's a u-haul
00:11:30.360in the parking lot right outside of the store