The Russia Mafia is part and parcel of Russian intelligence. Russia is a mafia state. That is not a metaphor. Putin is head of the Mafia. So the fact that they have deep ties to Donald Trump is deeply disturbing. Trump conducted FIVE completely private meetings and conferences with Putin, and has gone to great lengths to prevent literally anyone, even people in his administration, from learning what was discussed.
According to an ex-KGB spy...Russia has been cultivating Trump as an asset for 40 years.
Trump was first compromised by the Russians in the 80s. In 1984, the Russian Mafia began to use Trump real estate to launder money.
In 1984, David Bogatin — a convicted Russian mobster and close ally of Semion Mogilevich, a major Russian mob boss — met with Trump in Trump Tower right after it opened. Bogatin bought five condos from Trump at that meeting. Those condos were later seized by the government, which claimed they were used to launder money for the Russian mob.
“During the ’80s and ’90s, we in the U.S. government repeatedly saw a pattern by which criminals would use condos and high-rises to launder money,” says Jonathan Winer, a deputy assistant secretary of state for international law enforcement in the Clinton administration. “It didn’t matter that you paid too much, because the real estate values would rise, and it was a way of turning dirty money into clean money. It was done very systematically, and it explained why there are so many high-rises where the units were sold but no one is living in them.”
When Trump Tower was built, as David Cay Johnston reports in The Making of Donald Trump, it was only the second high-rise in New York that accepted anonymous buyers.
In 1987, the Soviet ambassador to the United Nations, Yuri Dubinin, arranged for Trump and his then-wife, Ivana, to enjoy an all-expense-paid trip to Moscow to consider business prospects.
A short while later he made his first call for the dismantling of the NATO alliance. Which would benefit Russia.
At the beginning of 1990 Donald Trump owed a combined $4 billion to more than 70 banks, with $800 million personally guaranteed by his own assets, according to Alan Pomerantz, a lawyer whose team led negotiations between Trump and 72 banks to restructure Trump’s loans. Pomerantz was hired by Citibank.
Interview with Pomerantz
Trump agreed to pay the bond lenders 14% interest, roughly 50% more than he had projected, to raise $675 million. It was the biggest gamble of his career. Trump could not keep pace with his debts. Six months later, the Taj defaulted on interest payments to bondholders as his finances went into a tailspin.
In July 1991, Trump’s Taj Mahal filed for bankruptcy.
So he bankrupted a casino? What about Ru...
The Trump Taj Mahal casino broke anti-money laundering rules 106 times in its first year and a half of operation in the early 1990s, according to the IRS in a 1998 settlement agreement.
The casino repeatedly failed to properly report gamblers who cashed out $10,000 or more in a single day, the government said."The violations date back to a time when the Taj Mahal was the preferred gambling spot for Russian mobsters living in Brooklyn, according to federal investigators who tracked organized crime in New York City. They also occurred at a time when the Taj Mahal casino was short on cash and on the verge of bankruptcy."
....ssia
So by the mid 1990s Trump was then at a low point of his career. He defaulted on his debts to a number of large Wall Street banks and was overleveraged. Two of his businesses had declared bankruptcy, the Trump Taj Mahal Casino in Atlantic City and the Plaza Hotel in New York, and the money pit that was the Trump Shuttle went out of business in 1992. Trump companies would ultimately declare Chapter 11 bankruptcy two more times.
Trump was $4 billion in debt after his Atlantic City casinos went bankrupt. No U.S. bank would touch him. Then foreign money began flowing in through Deutsche Bank.
The extremely controversial Deutsche Bank. The Nazi financing, Auschwitz building, law violating, customer misleading, international currency markets manipulating, interest rate rigging, Iran & others sanctions violating, Russian money laundering, salvation of Donald J. Trump.
The agreeing to a $7.2 billion settlement with with the U.S. Department of Justice over its sale and pooling of toxic mortgage securities and causing the 2008 financial crisis bank.
The appears to have facilitated more than half of the $2 trillion of suspicious transactions that were flagged to the U.S. government over nearly two decades bank.
The embroiled in a $20b money-laundering operation, dubbed the Global Laundromat. The launders money for Russian criminals with links to the Kremlin, the old KGB and its main successor, the FSB bank.
That bank.
Three minute video detailing Trump's debts and relationship with Deutsche Bank
In 1998, Russia defaulted on $40 billion in debt, causing the ruble to plummet and Russian banks to close. The ensuing financial panic sent the country’s oligarchs and mobsters scrambling to find a safe place to put their money. That October, just two months after the Russian economy went into a tailspin, Trump broke ground on his biggest project yet.
Directly across the street from the United Nations building.
Russian Linked-Deutsche Bank arranged to lend hundreds of millions of dollars to finance Trump’s construction of a skyscraper next to the United Nations.
Construction got underway in 1999.
Units on the tower’s priciest floors were quickly snatched up by individual buyers from the former Soviet Union, or by limited liability companies connected to Russia. “We had big buyers from Russia and Ukraine and Kazakhstan,” sales agent Debra Stotts told Bloomberg. After Trump World Tower opened, Sotheby’s International Realty teamed up with a Russian real estate company to make a big sales push for the property in Russia. The “tower full of oligarchs,” as Bloomberg called it, became a model for Trump’s projects going forward. All he needed to do, it seemed, was slap the Trump name on a big building, and high-dollar customers from Russia and the former Soviet republics were guaranteed to come rushing in.
New York City real estate broker Dolly Lenz told USA TODAY she sold about 65 condos in Trump World at 845 U.N. Plaza in Manhattan to Russian investors, many of whom sought personal meetings with Trump for his business expertise.
“I had contacts in Moscow looking to invest in the United States,” Lenz said. “They all wanted to meet Donald. They became very friendly.”Lots of Russian and Eastern European Friends. Investing lots of money. And not only in New York.
Miami is known as a hotspot of the ultra-wealthy looking to launder their money from overseas. Thousands of Russians have moved to Sunny Isles. Hundreds of ultra-wealthy former Soviet citizens bought Trump properties in South Florida. People with really disturbing histories investing millions and millions of dollars. Igor Zorin offers a story with all the weirdness modern Miami has to offer: Russian cash, a motorcycle club named after Russia’s powerful special forces and a condo tower branded by Donald Trump.
Thanks to its heavy Russian presence, Sunny Isles has acquired the nickname “Little Moscow.”
From an interview with a Miami based Siberian-born realtor... “Miami is a brand,” she told me as we sat on a sofa in the building’s huge foyer. “People from all over the world want property here.” Developers were only putting up luxury properties because they “know that the crisis has not affected people with money,”
Most of her clients are Russian—there are now three direct flights per week between Moscow and Miami—and increasing numbers are moving to Florida after spending a few years in London first. “It’s a money center, and it’s a lot easier to get your money there than directly to the US, because of laws and tax issues,” she said. “But after your money has been in London for a while, you can move it to other places more easily.”
In the 2000s, Trump turned to licensing deals and trademarks, collecting a fee from other companies using the Trump name. This has allowed Trump to distance himself from properties or projects that have failed or encountered legal trouble and provided a convenient workaround to help launch projects, especially in Russia and former Soviet states, which bear Trump’s name but otherwise little relation to his general business.
Enter Bayrock Group, a development company and key Trump real estate partner during the 2000s. Bayrock partnered with Trump in 2005 and invested an incredible amount of money into the Trump organization under the legal guise of licensing his name and property management. Bayrock was run by two investors:
Felix Sater, a Russian-born mobster who served a year in prison for stabbing a man in the face with a margarita glass during a bar fight, pleaded guilty to racketeering as part of a mafia-driven "pump-and-dump" stock fraud and then escaped jail time by becoming a highly valued government informant. He was an important figure at Bayrock, notably with the Trump SoHo hotel-condominium in New York City, and has said under oath that he represented Trump in Russia and subsequently billed himself as a senior Trump advisor, with an office in Trump Tower. He is a convict who became a govt cooperator for the FBI and other agencies. He grew up with Micahel Cohen --Trump's disbarred former "fixer" attorney. Cohen's family owned El Caribe, which was a mob hangout for the Russian Mafia in Brooklyn. Cohen had ties to Ukrainian oligarchs through his in-laws and his brother's in-laws. Felix Sater's father had ties to the Russian mob.
Tevfik Arif, a Kazakhstan-born former "Soviet official" who drew on bottomless sources of money from the former Soviet republic. Arif graduated from the Moscow Institute of Trade and Economics and worked as a Soviet trade and commerce official for 17 years before moving to New York and founding Bayrock. In 2002, after meeting Trump, he moved Bayrock’s offices to Trump Tower, where he and his staff of Russian émigrés set up shop on the twenty-fourth floor.
Arif was offering him a 20 to 25 percent cut on his overseas projects, he said, not to mention management fees. Trump said in the deposition that Bayrock’s Tevfik Arif “brought the people up from Moscow to meet with me,”and that he was teaming with Bayrock on other planned ventures in Moscow. The only Russians who are likely have the resources and political connections to sponsor such ambitious international deals are the corrupt oligarchs.
In 2005, Trump told The Miami Herald “The name has brought a cachet to certain areas that wouldn’t have had it,” Dezer said Trump’s name put Sunny Isles Beach on the map as a classy destination — and the Trump-branded condo units sold “10 to 20 percent higher than any of our competitors, and at a faster pace.”“We didn’t have any foreclosures or anything, despite the crisis.”
In a 2007 deposition that was part of his unsuccessful defamation lawsuit against reporter Timothy O’Brien Trump testified "that Bayrock was working their international contacts to complete Trump/Bayrock deals in Russia, Ukraine, and Poland. He testified that “Bayrock knew the investors” and that “this was going to be the Trump International Hotel and Tower in Moscow, Kiev, Istanbul, et cetera, and Warsaw, Poland.”
In 2008, Donald Trump Jr. gave the following statement to the “Bridging U.S. and Emerging Markets Real Estate” conference in Manhattan: “[I]n terms of high-end product influx into the United States, Russians make up a pretty disproportionate cross-section of a lot of our assets; say in Dubai, and certainly with our project in SoHo and anywhere in New York. We see a lot of money pouring in from Russia.”
In July 2008, Trump sold a mansion in Palm Beach for $95 million to Dmitry Rybolovlev, a Russian oligarch. Trump had purchased it four years earlier for $41.35 million. The sale price was nearly $54 million more than Trump had paid for the property. This was the height of the recession when all other property had plummeted in value. Must be nice to have so many Russian oligarchs interested in giving you money.
In 2013, Trump went to Russia for the Miss Universe pageant “financed in part by the development company of a Russian billionaire Aras Agalarov.… a Putin ally who is sometimes called the ‘Trump of Russia’ because of his tendency to put his own name on his buildings.” He met with many oligarchs. Timeline of events. Flight records show how long he was there.
Video interview in Moscow where Trump says "...China wanted it this year. And Russia wanted it very badly." I bet they did.
Also in 2013, Federal agents busted an “ultraexclusive, high-stakes, illegal poker ring” run by Russian gangsters out of Trump Tower. They operated card games, illegal gambling websites, and a global sports book and laundered more than $100 million. A condo directly below one owned by Trump reportedly served as HQ for a “sophisticated money-laundering scheme” connected to Semion Mogilevich.
In 2014, Eric Trump told golf reporter James Dodson that the Trump Organization was able to expand during the financial crisis because “We don’t rely on American banks. We have all the funding we need out of Russia. I said, 'Really?' And he said, 'Oh, yeah. We’ve got some guys that really, really love golf, and they’re really invested in our programmes. We just go there all the time.’”
A 2015 racketeering case against Bayrock, Sater, and Arif, and others, alleged that: “for most of its existence it [Bayrock] was substantially and covertly mob-owned and operated,” engaging “in a pattern of continuous, related crimes, including mail, wire, and bank fraud; tax evasion; money laundering; conspiracy; bribery; extortion; and embezzlement.” Although the lawsuit does not allege complicity by Trump, it claims that Bayrock exploited its joint ventures with Trump as a conduit for laundering money and evading taxes. The lawsuit cites as a “Concrete example of their crime, Trump SoHo, [which] stands 454 feet tall at Spring and Varick, where it also stands monument to spectacularly corrupt money-laundering and tax evasion.”
In 2016, the Trump Presidential Campaign was helped by Russia.
(I don't have the presidential term sourced yet. I'll post an update when I do. I'm sure you probably remember most of them...sigh. TY to the main posters here. Obviously I'm standing on your shoulders having taken a lot of the information or articles from here).

NEW INFO 5 Results from share redemption are posted. Less than .2% redeemed. Very bullish as investors are showing extreme confidence in the future of PLBY.
https://finance.yahoo.com/news/playboy-mountain-crest-acquisition-corp-120000721.html
NEW INFO 4 Definitive Agreement to purchase 100% of Lovers brand stores announced 2/1.
https://www.streetinsider.com/Corporate+News/Playboy+%28MCAC%29+Confirms+Deal+to+Acquire+Lovers/17892359.html
NEW INFO 3 I bought more on the dip today. 5081 total. Price rose AH to $12.38 (2.15%)
NEW INFO 2 Here is the full webinar.
https://icrinc.zoom.us/rec/play/9GWKdmOYumjWfZuufW3QXpe_FW_g--qeNbg6PnTjTMbnNTgLmCbWjeRFpQga1iPc-elpGap8dnDv8Zww.yD7DjUwuPmapeEdP?continueMode=true&tk=lEYc4F_FkKlgsmCIs6w0gtGHT2kbgVGbUju3cIRBSjk.DQIAAAAV8NK49xZWdldRM2xNSFNQcTBmcE00UzM3bXh3AAAAAAAAAAAAAAAAAAAAAAAAAAAA&uuid=WN_GKWqbHkeSyuWetJmLFkj4g&_x_zm_rtaid=kR45-uuqRE-L65AxLjpbQw.1611967079119.2c054e3d3f8d8e63339273d9175939ed&_x_zm_rhtaid=866
NEW INFO 1 Live merger webinar with PLBY and MCAC on Friday January 29, 2021 at 12:00 NOON EST link below
https://mcacquisition.com/investor-relations/press-release-details/2021/Playboy-Enterprises-Inc.-and-Mountain-Crest-Acquisition-Corp-Participate-in-SPACInsider-ICR-Webinar-on-January-29th-at-12pm-ET/default.aspx
Playboy going public: Porn, Gambling, and Cannabis
!!!WARNING READING AHEAD!!! TL;DR at the end. It will take some time to sort through all the links and read/watch everything, but you should.
In the next couple weeks, Mountain Crest Acquisition Corp is taking Playboy public. The existing ticker MCAC will become PLBY. Special purpose acquisition companies have taken private companies public in recent months with great success. I believe this will be no exception. Notably, Playboy is profitable and has skyrocketing revenue going into a transformational growth phase.
Porn - First and foremost, let's talk about porn. I know what you guys are thinking. “Porno mags are dead. Why would I want to invest in something like that? I can get porn for free online.” Guess what? You are absolutely right. And that’s exactly why Playboy doesn’t do that anymore. That’s right, they eliminated their print division. And yet they somehow STILL make money from porn that people (see: boomers) pay for on their website through PlayboyTV, Playboy Plus, and iPlayboy. Here’s the thing: Playboy has international, multi-generational name recognition from porn. They have content available in 180 countries. It will be the only publicly traded adult entertainment (porn) company. But that is not where this company is going. It will help support them along the way. You can see every Playboy magazine through iPlayboy if you’re interested. NSFW links below:
https://www.playboy.com/
https://www.playboytv.com/
https://www.playboyplus.com/
https://www.iplayboy.com/
Gambling - Some of you might recognize the Playboy brand from gambling trips to places like Las Vegas, Atlantic City, Cancun, London or Macau. They’ve been in the gambling biz for decades through their casinos, clubs, and licensed gaming products. They see the writing on the wall. COVID is accelerating the transition to digital, application based GAMBLING. That’s right. What we are doing on Robinhood with risky options is gambling, and the only reason regulators might give a shit anymore is because we are making too much money. There may be some restrictions put in place, but gambling from your phone on your couch is not going anywhere. More and more states are allowing things like Draftkings, poker, state ‘lottery” apps, hell - even political betting. Michigan and Virginia just ok’d gambling apps. They won’t be the last. This is all from your couch and any 18 year old with a cracked iphone can access it. Wouldn’t it be cool if Playboy was going to do something like that? They’re already working on it. As per CEO Ben Kohn who we will get to later, “...the company’s casino-style digital gaming products with Scientific Games and Microgaming continue to see significant global growth.” Honestly, I stopped researching Scientific Games' sports betting segment when I saw the word ‘omni-channel’. That told me all I needed to know about it’s success.
“Our SG Sports™ platform is an enhanced, omni-channel solution for online, self-service and retail fixed odds sports betting – from soccer to tennis, basketball, football, baseball, hockey, motor sports, racing and more.”
https://www.scientificgames.com/
https://www.microgaming.co.uk/
“This latter segment has become increasingly enticing for Playboy, and it said last week that it is considering new tie-ups that could include gaming operators like PointsBet and 888Holdings.”
https://calvinayre.com/2020/10/05/business/playboys-gaming-ops-could-get-a-boost-from-spac-purchase/
As per their SEC filing:
“Significant consumer engagement and spend with Playboy-branded gaming properties around the world, including with leading partners such as Microgaming, Scientific Games, and Caesar’s Entertainment, steers our investment in digital gaming, sports betting and other digital offerings to further support our commercial strategy to expand consumer spend with minimal marginal cost, and gain consumer data to inform go-to-market plans across categories.”
https://www.sec.gov/Archives/edgadata/1803914/000110465921005986/tm2034213-12_defm14a.htm#tMDAA1
They are expanding into more areas of gaming/gambling, working with international players in the digital gaming/gambling arena, and a Playboy sportsbook is on the horizon.
https://www.playboy.com/read/the-pleasure-of-playing-with-yourself-mobile-gaming-in-the-covid-era
Cannabis - If you’ve ever read through a Playboy magazine, you know they’ve had a positive relationship with cannabis for many years. As of September 2020, Playboy has made a major shift into the cannabis space. Too good to be true you say? Check their website. Playboy currently sells a range of CBD products. This is a good sign. Federal hemp products, which these most likely are, can be mailed across state lines and most importantly for a company like Playboy, can operate through a traditional banking institution. CBD products are usually the first step towards the cannabis space for large companies. Playboy didn’t make these products themselves meaning they are working with a processor in the cannabis industry. Another good sign for future expansion. What else do they have for sale? Pipes, grinders, ashtrays, rolling trays, joint holders. Hmm. Ok. So it looks like they want to sell some shit. They probably don’t have an active interest in cannabis right? Think again:
https://www.forbes.com/sites/javierhasse/2020/09/24/playboy-gets-serious-about-cannabis-law-reform-advocacy-with-new-partnership-grants/?sh=62f044a65cea
“Taking yet another step into the cannabis space, Playboy will be announcing later on Thursday (September, 2020) that it is launching a cannabis law reform and advocacy campaign in partnership with National Organization for the Reform of Marijuana Laws (NORML), Last Prisoner Project, Marijuana Policy Project, the Veterans Cannabis Project, and the Eaze Momentum Program.”
“According to information procured exclusively, the three-pronged campaign will focus on calling for federal legalization. The program also includes the creation of a mentorship plan, through which the Playboy Foundation will support entrepreneurs from groups that are underrepresented in the industry.” Remember that CEO Kohn from earlier? He wrote this recently:
https://medium.com/naked-open-letters-from-playboy/congress-must-pass-the-more-act-c867c35239ae
Seems like he really wants weed to be legal? Hmm wonder why? The writing's on the wall my friends. Playboy wants into the cannabis industry, they are making steps towards this end, and we have favorable conditions for legislative progress.
Don’t think branding your own cannabis line is profitable or worthwhile? Tell me why these 41 celebrity millionaires and billionaires are dummies. I’ll wait.
https://www.celebstoner.com/news/celebstoner-news/2019/07/12/top-celebrity-cannabis-brands/
Confirmation: I hear you. “This all seems pretty speculative. It would be wildly profitable if they pull this shift off. But how do we really know?” Watch this whole video:
https://finance.yahoo.com/video/playboy-ceo-telling-story-female-154907068.html
Man - this interview just gets my juices flowing. And highlights one of my favorite reasons for this play. They have so many different business avenues from which a catalyst could appear. I think paying attention, holding shares, and options on these staggered announcements over the next year is the way I am going to go about it. "There's definitely been a shift to direct-to-consumer," he (Kohn) said. "About 50 percent of our revenue today is direct-to-consumer, and that will continue to grow going forward.” “Kohn touted Playboy's portfolio of both digital and consumer products, with casino-style gaming, in particular, serving a crucial role under the company's new business model. Playboy also has its sights on the emerging cannabis market, from CBD products to marijuana products geared toward sexual health and pleasure.” "If THC does become legal in the United States, we have developed certain strains to enhance your sex life that we will launch," Kohn said. https://cheddar.com/media/playboy-goes-public-health-gaming-lifestyle-focus Oh? The CEO actually said it? Ok then. “We have developed certain strains…” They’re already working with growers on strains and genetics? Ok. There are several legal cannabis markets for those products right now, international and stateside. I expect Playboy licensed hemp and THC pre-rolls by EOY. Something like this: https://www.etsy.com/listing/842996758/10-playboy-pre-roll-tubes-limited?ga_order=most_relevant&ga_search_type=all&ga_view_type=gallery&ga_search_query=pre+roll+playboy&ref=sr_gallery-1-2&organic_search_click=1 Maintaining cannabis operations can be costly and a regulatory headache. Playboy’s licensing strategy allows them to pick successful, established partners and sidestep traditional barriers to entry. You know what I like about these new markets? They’re expanding. Worldwide. And they are going to be a bigger deal than they already are with or without Playboy. Who thinks weed and gambling are going away? Too many people like that stuff. These are easy markets. And Playboy is early enough to carve out their spot in each. Fuck it, read this too: https://www.forbes.com/sites/jimosman/2020/10/20/playboy-could-be-the-king-of-spacs-here-are-three-picks/?sh=2e13dcaa3e05
Numbers: You want numbers? I got numbers. As per the company’s most recent SEC filing:
“For the year ended December 31, 2019, and the nine months ended September 30, 2020, Playboy’s historical consolidated revenue was $78.1 million and $101.3 million, respectively, historical consolidated net income (loss) was $(23.6) million and $(4.8) million, respectively, and Adjusted EBITDA was $13.1 million and $21.8 million, respectively.”
“In the nine months ended September 30, 2020, Playboy’s Licensing segment contributed $44.2 million in revenue and $31.1 million in net income.”
“In the ninth months ended September 30, 2020, Playboy’s Direct-to-Consumer segment contributed $40.2 million in revenue and net income of $0.1 million.”
“In the nine months ended September 30, 2020, Playboy’s Digital Subscriptions and Content segment contributed $15.4 million in revenue and net income of $7.4 million.”
They are profitable across all three of their current business segments.
“Playboy’s return to the public markets presents a transformed, streamlined and high-growth business. The Company has over $400 million in cash flows contracted through 2029, sexual wellness products available for sale online and in over 10,000 major retail stores in the US, and a growing variety of clothing and branded lifestyle and digital gaming products.”
https://www.sec.gov/Archives/edgadata/1803914/000110465921005986/tm2034213-12_defm14a.htm#tSHCF
Growth: Playboy has massive growth in China and massive growth potential in India. “In China, where Playboy has spent more than 25 years building its business, our licensees have an enormous footprint of nearly 2,500 brick and mortar stores and 1,000 ecommerce stores selling high quality, Playboy-branded men’s casual wear, shoes/footwear, sleepwear, swimwear, formal suits, leather & non-leather goods, sweaters, active wear, and accessories. We have achieved significant growth in China licensing revenues over the past several years in partnership with strong licensees and high-quality manufacturers, and we are planning for increased growth through updates to our men’s fashion lines and expansion into adjacent categories in men’s skincare and grooming, sexual wellness, and women’s fashion, a category where recent launches have been well received.” The men’s market in China is about the same size as the entire population of the United States and European Union combined. Playboy is a leading brand in this market. They are expanding into the women’s market too. Did you know CBD toothpaste is huge in China? China loves CBD products and has hemp fields that dwarf those in the US. If Playboy expands their CBD line China it will be huge. Did you know the gambling money in Macau absolutely puts Las Vegas to shame? Technically, it's illegal on the mainland, but in reality, there is a lot of gambling going on in China. https://www.forbes.com/sites/javierhasse/2020/10/19/magic-johnson-and-uncle-buds-cbd-brand-enter-china-via-tmall-partnership/?sh=271776ca411e “In India, Playboy today has a presence through select apparel licensees and hospitality establishments. Consumer research suggests significant growth opportunities in the territory with Playboy’s brand and categories of focus.” “Playboy Enterprises has announced the expansion of its global consumer products business into India as part of a partnership with Jay Jay Iconic Brands, a leading fashion and lifestyle Company in India.” “The Indian market today is dominated by consumers under the age of 35, who represent more than 65 percent of the country’s total population and are driving India’s significant online shopping growth. The Playboy brand’s core values of playfulness and exploration resonate strongly with the expressed desires of today’s younger millennial consumers. For us, Playboy was the perfect fit.” “The Playboy international portfolio has been flourishing for more than 25 years in several South Asian markets such as China and Japan. In particular, it has strategically targeted the millennial and gen-Z audiences across categories such as apparel, footwear, home textiles, eyewear and watches.” https://www.licenseglobal.com/industry-news/playboy-expands-global-footprint-india It looks like they gave COVID the heisman in terms of net damage sustained: “Although Playboy has not suffered any material adverse consequences to date from the COVID-19 pandemic, the business has been impacted both negatively and positively. The remote working and stay-at-home orders resulted in the closure of the London Playboy Club and retail stores of Playboy’s licensees, decreasing licensing revenues in the second quarter, as well as causing supply chain disruption and less efficient product development thereby slowing the launch of new products. However, these negative impacts were offset by an increase in Yandy’s direct-to-consumer sales, which have benefited in part from overall increases in online retail sales so far during the pandemic.” Looks like the positives are long term (Yandy acquisition) and the negatives are temporary (stay-at-home orders).
https://www.sec.gov/Archives/edgadata/1803914/000110465921006093/tm213766-1_defa14a.htm
This speaks to their ability to maintain a financially solvent company throughout the transition phase to the aforementioned areas. They’d say some fancy shit like “expanded business model to encompass four key revenue streams: Sexual Wellness, Style & Apparel, Gaming & Lifestyle, and Beauty & Grooming.” I hear “we’re just biding our time with these trinkets until those dollar dollar bill y’all markets are fully up and running.” But the truth is these existing revenue streams are profitable, scalable, and rapidly expanding Playboy’s e-commerce segment around the world.
"Even in the face of COVID this year, we've been able to grow EBITDA over 100 percent and revenue over 68 percent, and I expect that to accelerate going into 2021," he said. “Playboy is accelerating its growth in company-owned and branded consumer products in attractive and expanding markets in which it has a proven history of brand affinity and consumer spend.”
Also in the SEC filing, the Time Frame:
“As we detailed in the definitive proxy statement, the SPAC stockholder meeting to vote on the transaction has been set for February 9th, and, subject to stockholder approval and satisfaction of the other closing conditions, we expect to complete the merger and begin trading on NASDAQ under ticker PLBY shortly thereafter,” concluded Kohn.
The Players: Suhail “The Whale” Rizvi (HMFIC), Ben “The Bridge” Kohn (CEO), “lil” Suying Liu & “Big” Dong Liu (Young-gun China gang). I encourage you to look these folks up. The real OG here is Suhail Rizvi. He’s from India originally and Chairman of the Board for the new PLBY company. He was an early investor in Twitter, Square, Facebook and others. His firm, Rizvi Traverse, currently invests in Instacart, Pinterest, Snapchat, Playboy, and SpaceX. Maybe you’ve heard of them. “Rizvi, who owns a sprawling three-home compound in Greenwich, Connecticut, and a 1.65-acre estate in Palm Beach, Florida, near Bill Gates and Michael Bloomberg, moved to Iowa Falls when he was five. His father was a professor of psychology at Iowa. Along with his older brother Ashraf, a hedge fund manager, Rizvi graduated from Wharton business school.” “Suhail Rizvi: the 47-year-old 'unsocial' social media baron: When Twitter goes public in the coming weeks (2013), one of the biggest winners will be a 47-year-old financier who guards his secrecy so zealously that he employs a person to take down his Wikipedia entry and scrub his photos from the internet. In IPO, Twitter seeks to be 'anti-FB'” “Prince Alwaleed bin Talal of Saudi Arabia looks like a big Twitter winner. So do the moneyed clients of Jamie Dimon. But as you’ve-got-to-be-joking wealth washed over Twitter on Thursday — a company that didn’t exist eight years ago was worth $31.7 billion after its first day on the stock market — the non-boldface name of the moment is Suhail R. Rizvi. Mr. Rizvi, 47, runs a private investment company that is the largest outside investor in Twitter with a 15.6 percent stake worth $3.8 billion at the end of trading on Thursday (November, 2013). Using a web of connections in the tech industry and in finance, as well as a hearty dose of good timing, he brought many prominent names in at the ground floor, including the Saudi prince and some of JPMorgan’s wealthiest clients.” https://www.nytimes.com/2013/11/08/technology/at-twitter-working-behind-the-scenes-toward-a-billion-dollar-payday.html Y’all like that Arab money? How about a dude that can call up Saudi Princes and convince them to spend? Funniest shit about I read about him: “Rizvi was able to buy only $100 million in Facebook shortly before its IPO, thus limiting his returns, according to people with knowledge of the matter.” Poor guy :(
He should be fine with the 16 million PLBY shares he's going to have though :)
Shuhail also has experience in the entertainment industry. He’s invested in companies like SESAC, ICM, and Summit Entertainment. He’s got Hollywood connections to blast this stuff post-merger. And he’s at least partially responsible for that whole Twilight thing. I’m team Edward btw.
I really like what Suhail has done so far. He’s lurked in the shadows while Kohn is consolidating the company, trimming the fat, making Playboy profitable, and aiming the ship at modern growing markets.
https://www.reuters.com/article/us-twitter-ipo-rizvi-insight/insight-little-known-hollywood-investor-poised-to-score-with-twitter-ipo-idUSBRE9920VW20131003
Ben “The Bridge” Kohn is an interesting guy. He’s the connection between Rizvi Traverse and Playboy. He’s both CEO of Playboy and was previously Managing Partner at Rizvi Traverse. Ben seems to be the voice of the Playboy-Rizvi partnership, which makes sense with Suhail’s privacy concerns. Kohn said this:
“Today is a very big day for all of us at Playboy and for all our partners globally. I stepped into the CEO role at Playboy in 2017 because I saw the biggest opportunity of my career. Playboy is a brand and platform that could not be replicated today. It has massive global reach, with more than $3B of global consumer spend and products sold in over 180 countries. Our mission – to create a culture where all people can pursue pleasure – is rooted in our 67-year history and creates a clear focus for our business and role we play in people’s lives, providing them with the products, services and experiences that create a lifestyle of pleasure. We are taking this step into the public markets because the committed capital will enable us to accelerate our product development and go-to-market strategies and to more rapidly build our direct to consumer capabilities,” said Ben Kohn, CEO of Playboy.
“Playboy today is a highly profitable commerce business with a total addressable market projected in the trillions of dollars,” Mr. Kohn continued, “We are actively selling into the Sexual Wellness consumer category, projected to be approximately $400 billion in size by 2024, where our recently launched intimacy products have rolled out to more than 10,000 stores at major US retailers in the United States. Combined with our owned & operated ecommerce Sexual Wellness initiatives, the category will contribute more than 40% of our revenue this year. In our Apparel and Beauty categories, our collaborations with high-end fashion brands including Missguided and PacSun are projected to achieve over $50M in retail sales across the US and UK this year, our leading men’s apparel lines in China expanded to nearly 2500 brick and mortar stores and almost 1000 digital stores, and our new men’s and women’s fragrance line recently launched in Europe. In Gaming, our casino-style digital gaming products with Scientific Games and Microgaming continue to see significant global growth. Our product strategy is informed by years of consumer data as we actively expand from a purely licensing model into owning and operating key high-growth product lines focused on driving profitability and consumer lifetime value. We are thrilled about the future of Playboy. Our foundation has been set to drive further growth and margin, and with the committed capital from this transaction and our more than $180M in NOLs, we will take advantage of the opportunity in front of us, building to our goal of $100M of adjusted EBITDA in 2025.”
https://www.businesswire.com/news/home/20201001005404/en/Playboy-to-Become-a-Public-Company
Also, according to their Form 4s, “Big” Dong Liu and “lil” Suying Liu just loaded up with shares last week. These guys are brothers and seem like the Chinese market connection. They are only 32 & 35 years old. I don’t even know what that means, but it's provocative.
https://www.secform4.com/insider-trading/1832415.htm
https://finance.yahoo.com/news/mountain-crest-acquisition-corp-ii-002600994.html
Y’all like that China money?
“Mr. Liu has been the Chief Financial Officer of Dongguan Zhishang Photoelectric Technology Co., Ltd., a regional designer, manufacturer and distributor of LED lights serving commercial customers throughout Southern China since November 2016, at which time he led a syndicate of investments into the firm. Mr. Liu has since overseen the financials of Dongguan Zhishang as well as provided strategic guidance to its board of directors, advising on operational efficiency and cash flow performance. From March 2010 to October 2016, Mr. Liu was the Head of Finance at Feidiao Electrical Group Co., Ltd., a leading Chinese manufacturer of electrical outlets headquartered in Shanghai and with businesses in the greater China region as well as Europe.”
Dr. Suying Liu, Chairman and Chief Executive Officer of Mountain Crest Acquisition Corp., commented, “Playboy is a unique and compelling investment opportunity, with one of the world’s largest and most recognized brands, its proven consumer affinity and spend, and its enormous future growth potential in its four product segments and new and existing geographic regions. I am thrilled to be partnering with Ben and his exceptional team to bring his vision to fruition.”
https://www.businesswire.com/news/home/20201001005404/en/Playboy-to-Become-a-Public-Company
These guys are good. They have a proven track record of success across multiple industries. Connections and money run deep with all of these guys. I don’t think they’re in the game to lose.
I was going to write a couple more paragraphs about why you should have a look at this but really the best thing you can do is read this SEC filing from a couple days ago. It explains the situation in far better detail. Specifically, look to page 137 and read through their strategy. Also, look at their ownership percentages and compensation plans including the stock options and their prices. The financials look great, revenue is up 90% Q3, and it looks like a bright future.
https://www.sec.gov/Archives/edgadata/1803914/000110465921005986/tm2034213-12_defm14a.htm#tSHCF
I’m hesitant to attach this because his position seems short term, but I’m going to with a warning because he does hit on some good points (two are below his link) and he’s got a sizable position in this thing (500k+ on margin, I think). I don’t know this guy but he did look at the same publicly available info and make roughly the same prediction, albeit without the in depth gambling or cannabis mention. You can also search reddit for ‘MCAC’ and very few relevant results come up and none of them even come close to really looking at this thing.
https://docs.google.com/document/d/1gOvAd6lebs452hFlWWbxVjQ3VMsjGBkbJeXRwDwIJfM/edit?usp=sharing
“Also, before you people start making claims that Playboy is a “boomer” company, STOP RIGHT THERE. This is not a good argument. Simply put. The only thing that matters is Playboy’s name recognition, not their archaic business model which doesn’t even exist anymore as they have completely repurposed their business.”
“Imagine not buying $MCAC at a 400M valuation lol. Streetwear department is worth 1B alone imo.”
Considering the ridiculous Chinese growth as a lifestyle brand, he’s not wrong.
Current Cultural Significance and Meme Value: A year ago I wouldn’t have included this section but the events from the last several weeks (even going back to tsla) have proven that a company’s ability to meme and/or gain social network popularity can have an effect. Tik-tok, Snapchat, Twitch, Reddit, Youtube, Facebook, Twitter. They all have Playboy stuff on them. Kids in middle and highschool know what Playboy is but will likely never see or touch one of the magazines in person. They’ll have a Playboy hoodie though. Crazy huh? A lot like GME, PLBY would hugely benefit from meme-value stock interest to drive engagement towards their new business model while also building strategic coffers. This interest may not directly and/or significantly move the stock price but can generate significant interest from larger players who will.
Bull Case: The year is 2025. Playboy is now the world leader pleasure brand. They began by offering Playboy licensed gaming products, including gambling products, direct to consumers through existing names. By 2022, demand has skyrocketed and Playboy has designed and released their own gambling platforms. In 2025, they are also a leading cannabis brand in the United States and Canada with proprietary strains and products geared towards sexual wellness. Cannabis was legalized in the US in 2023 when President Biden got glaucoma but had success with cannabis treatment. He personally pushes for cannabis legalization as he steps out of office after his first term. Playboy has also grown their brand in China and India to multi-billion per year markets. The stock goes up from 11ish to 100ish and everyone makes big gains buying somewhere along the way.
Bear Case: The United States does a complete 180 on marijuana and gambling. President Biden overdoses on marijuana in the Lincoln bedroom when his FDs go tits up and he loses a ton of money in his sports book app after the Fighting Blue Hens narrowly lose the National Championship to Bama. Playboy is unable to expand their cannabis and gambling brands but still does well with their worldwide lifestyle brand. They gain and lose some interest in China and India but the markets are too large to ignore them completely. The stock goes up from 11ish to 13ish and everyone makes 15-20% gains.
TL;DR: Successful technology/e-commerce investment firm took over Playboy to turn it into a porn, online gambling/gaming, sports book, cannabis company, worldwide lifestyle brand that promotes sexual wellness, vetern access, women-ownership, minority-ownership, and “pleasure for all”. Does a successful online team reinventing an antiquated physical copy giant sound familiar? No options yet, shares only for now. $11.38 per share at time of writing. My guess? $20 by the end of February. $50 by EOY. This is not financial advice. I am not qualified to give financial advice. I’m just sayin’ I would personally use a Playboy sports book app while smoking a Playboy strain specific joint and it would be cool if they did that. Do your own research. You’d probably want to start here:
WARNING - POTENTIALLY NSFW - SEXY MODELS AHEAD - no actual nudity though
https://s26.q4cdn.com/895475556/files/doc_presentations/Playboy-Craig-Hallum-Conference-Investor-Presentation-11_17_20-compressed.pdf
Or here:
https://www.mcacquisition.com/investor-relations/default.aspx
Jimmy Chill: “Get into any SPAC at $10 or $11 and you are going to make money.”
STL;DR: Buy MCAC. MCAC > PLBY couple weeks. Rocketship. Moon.
Position: 5000 shares. I will buy short, medium, and long-dated calls once available.

To avoid multiple, repetitive post on all the bugs in GTA online, especially since the latest DLC release, this post will contain all the common bugs and will be updated as more are discovered and workarounds are found.
Please leave any other bugs you've encountered in the comments below and they may be added to the above list, but please note that this is not meant to be a discussion thread, it's meant to list common bugs so players who encounter them know they are not the only ones experiencing them.
Any comments/replies beyond simply listing a bug will be removed, and the user may be temporarily banned from the sub.
Before leaving a comment, please review the above list, and the comments below to see if what you're about to post has already been listed or commented on.
If you see a comment with the same bug you've experienced, please upvote it so we can see how many others are also experiencing that issue.
Posts about any of these bugs will be removed.
​

Bugs related to the Cayo Perico Heist DLC:

1. Not being able to join friends / error message displaying prompt declaring a certain player hasn’t finished the GTA Online tutorial.
   
2. Not being able to deliver various pieces of heist equipment to the Kosatka during missions.
   
3. During the Plasma Cutters mission, taking a picture of the heist prep board in the safe house won’t register and you can’t send it too Pavel to progress the mission.
   
4. During the RO-86 Alkonost Plane delivery mission and the Velum delivery mission, the delivery checkpoint will be stationed at the casino, either the garage, front door, or music locker enterances will be highlighted.
   
5. During the Longfin boat delivery mission the delivery checkpoint will not register the Longfin once it has reached it destination.
   
6. When poisoning the water tower on Cayo Perico, players have reported either themselves or other players dying randomly.
   
7. When hacking into El Rubio’s compound, players have reported being stuck on a static as the game loads the cameras in the compound.
   
8. When quitting GTA Online after doing a Cayo Perico Heist mission prep, the game won’t save your last prep, requiring you to do it again.
   
9. The Cayo Perico primary target value will sometimes not display correctly and there as issue the incorrect amount of money for stealing the primary target on hard mode.
   
10. In the Cayo Perico heist finale, selecting the drainage point as your entrance into the compound won’t register correctly on your map, with the highlighted icon being the main entrance rather than the back.
    
11. All of the Pariah’s spoilers won’t display visually for any player.
    
12. When using the track pad to open the interaction menu on the PS5, the game soft locks you out of using your interaction menu again.
    
13. When escaping the compound, sometimes the boats at both the main dock and north dock won’t spawn.
    
14. Killing the juggernuat may cause the alarms to go off in the compound, even if done stealthy.
    
15. Both the Tom Conners missions and the English Dave missions sometimes bug up and don't allow you to deliver an objective to the yellow circle.
    
16. When entering the compound, plyers are reporting disconnects, either the host of the heist leaves the game or another team member will leave randomly.
    
17. When leaving the compound, the game will not give you a way to escape, leaving you softlocked in the compound.
    
18. In the heist finale screen, platers report not being able to buy a heist support crew.
    
19. When completing the Cayo Peico heist, players report that they discount from the game as soon as the heist is finished, leaving them without their payment.
    
20. Some players report that the payouts are incorrect when being divided out to players, as an example, a 30/70 payout will change to a 15/85 payout when the heist ends.
    
21. Some players report losing their payout as soon a they reset the game.
    
22. Prep missions for the Cayo Perico heist will not start randomly.
    
23. During the Alkonost setup mission the laptop needed to progress the prep mission will not spawn.
    
24. During the Alkonost setup mission the plane will start smoking instantly when leaving the hanger, causing the plane to prematurely blow up before the mission ends.
    
25. When scoping out Cayo Perico for the second time, (steal the plane from the drug dealers,) the yellow dot mission marker will not display, not allowing the player to fly to Cayo Perico.
    
26. During the scope-out mission for Cayo Perico, players report the supply truck not spawning in.
    
27. When collecting the Chakra Stones for English Dave, collecting all he stones will not prompt the next mission objective.
    
28. When trying to obtain the safe codes from the head of security the casino penthouse, players report the main target not spawning, effectivly softlocking the player in the penthouse.
    
29. "Invisible guards" patrol the compound after you rob it, resulting in your player character getting caught.
    
30. Guards will sometimes not show up on the radar when on the Cayo Perico heist finale.
    
31. Players report different weapon loadouts, entry points, and exit points on the final heist rather than what they choose on the finale screen.
    
32. Players report that when entering the drainage pipe and surfacing into the compound, the game breaks stealth and puts you into combat.
    
33. The Madrazo files will sometimes get replaced with an entirely different target all together on a first run of the Cayo Perico heist.
    
34. Delivering anything to the Music Locker will sometimes not work.
    

Bugs related to the Casino Heist DLC and GTA Online Broadly:

1. Cannot deliver heist prep equipment: The vehicle will enter the yellow circle and nothing will happen.
2. Cannot deliver product from businesses: The drop/delivery won't register, or you enter the delivery circle and it won't register.
3. Cannot deliver Business Battle goods: Will not register when entering the yellow circle.
4. Falling through the map.
5. Getting stuck in the man trap or spawning under the map during the Casino Heist, or being disconnected.
6. Oppressor MKI, or any car floating in the air.
7. Flying over the water and respawning on the beach.
8. Changing lobbies but being put back into the same one.
9. Not receiving Elite bonuses after completing the Casino Heist.
10. Starting a Casino Heist and having no objective point on the map, causing players to have to leave the lobby.
11. Having to setup the Arcade again after previously doing the setup mission.
12. Vehicles/aircraft not spawning after being requested either from the mechanic, Ms. Baker, or through the interaction menu.
13. Nightclub technicians will stop producing certain products.
14. Certain vehicles losing their resistance to rockets/explosives. MOC, Avenger, etc...
15. Infinite loading screens
16. White screening during the Casino Heist end screens.
17. Heist cuts not being properly distributed after completing Heists.
18. Casino Heist being stuck once you leave the arcade: Can't move, etc...
19. Rewards in Arena Wars, or other jobs, not being properly calculated for the person in first place.
20. Trade prices not unlocking after completing the Casino Heist.
21. When searching for a casino heist through quick job in your cellphone, there's a chance it bugs out and upon joining the room, you're unable to see the finale board where you'd normally see the percentages and ready status.
22. On silent and sneaky, there's a chance the guards that are supposed to be moving around and patrolling stand completely still. This is both helpful and annoying in different parts of the heist and if you haven't got duggan shipments completed, you're pretty much fucked or forced to get creative.
23. On Big Con, sometimes the exit disguises don't spawn even though the run was done completely undetected (I've experienced this with gruppe sechs entry).
24. When collecting daily vault, sometimes it might happen that you get stuck in the animation without being able to stop.
25. The stockade sometimes spawns in the wrong arcade.
26. Getting stuck in an endless dancing loop during the Casino Heist setup for the level 2 keycards.
27. Incorrect getaway vehicles will spawn for the Casino Heist.
28. In Sumo(Remix) the wrong team will be awarded the win.
29. Mechanic will sometimes not spawn and the player will not be able to modify their vehicles.
30. MC business raids not sending message to players.
31. Dying during the explosives prep mission for the Casino heist can lead to a long, or infinite respawn.
32. During the Prison Break Heist Rashkovsky will not move, be invisible, or die after parachuting from the plane at the end of the Heist.

​
Please report bugs directly to Rockstar You can also link this post to them as well.
If you have lost money due to a bug, please open a support ticket.
-7DeadlyFetishes

The Catalan government has just announced updated rules and guidelines for the Christmas period.

As of Monday 21 December:

You are not allowed to leave or enter Catalonia without good reason (e.g. work, emergency, important administrative reasons, court summons, caring for dependents, etc), or to visit family.
Comarca/county lockdown Monday 21 December - Monday 11 January

• You may not leave your comarca (county) during this time, except for good reason (e.g. work, school, looking after dependents, medical emergency, etc), or to visit family, or to go to a second residence or hotel or equivalent.
• Comarques la Cerdanya and el Ripollès are under confinement. No entry permitted except for business or emergency reasons.
• For anyone living in Barcelona, this means that you cannot leave the Barcelonès comarca apart from those exceptions.
• Here is a map of the comarques of Catalonia
• You can download the updated self-declaration form here
• You can meet in groups of 6 people max, with the exception of: Christmas Eve, Christmas Day, Sant Esteve (Boxing Day), New Year's Eve, New Year's Day and Reis (6 January). On these days, up to 10 people can meet, from a maximum of 2 households ('bubbles').

The daily curfew rules remain:

• Everyone should be off the streets and indoors between 2200-0600.
• Exceptions: 24 December until 1 am; 31 December until 1 am; 5 January until 11 pm.
• Public transport schedules do not change
• You can use a "self responsibility certificate" to explain why you're breaking the rules
• Fines range from 300€ to 6,000€

Bars and restaurants:

• May open from 7.30 am to 9.30 am, and from 1.00 pm to 3.30 pm
• May open from 7 pm to 10 pm, but only for takeaways
• Max 4 people per table (6 if you all live together)
• Indoors: 30% occupancy
• Terraces: 100% occupancy
• 2 meter safety distance must be observed for all customers
• Deliveries until 11pm, collect take out until 10pm

Shops, stores and other businesses:

• Smaller stores (under 800m2) can open with 30% occupancy
• Bigger stores (over 800m2) can now also open at 30%
• Shopping centers remain closed, excepting the shops that serve key needs (food, medical, etc), or which you can access directly from the street
• Hairdressers and beauty salons can open, clients need a prior appointment

Culture

• Cinemas, theaters and concert halls may open to 50% occupancy (max 500 people)
• Museums and galleries open to 50%

Education

• Schools go back on 11 January (not 8 January, as originally planned)

Sport and fitness

• Outdoor sports facilities open (max 50% occupancy)
• Gyms and sports centers open, max 30% occupancy, and clients will need to book in advance. Changing rooms cannot be used except for going swimming
• Competitions remain suspended
• Outdoors sports activities in groups of 6 max,

Others

• Casinos, bingo halls etc remain closed
• Indoor playgrounds remain closed
• Outdoor playgrounds open until 8pm
• Religious and civil ceremonies allowed, up to 30% occupancy

Work

• Companies should encourage working from home, where possible
• Conventions, trade shows and fairs etc. are all banned

I posted this yesterday morning (UK time) but after 5 hours or so, pennystocks deleted the original post. I had a message to share it on here too, so here it is!
--
This is my first time posting a DD post – a friend of mine who moderates on SPACs has shared some analysis I have written previously, but I’m keen to share this here, and see if there is any appetite for sharing my own personal written DD I have on the 30 stocks I have across a number of different portfolios.
I have modified this format, as it was originally a script for a video which I created on the stock. If you prefer to listen – check it out here: https://youtu.be/qsjwU7kkPsw
Some of the market stats (market cap, current multiples, etc.) are correct as of Feb-06, and clearly a little outdated since the price movements.
Not a financial advisor, do your own DD. I am long HITI and have an expectation of a long term hold on this stock.
Overview

• High Tide Canada-based cannabis retail company, operating under multiple brands. It operates under 3 core divisions:

1. Brick and mortar retail – 4 key brands with just under 70 locations in Canada. Brands include: Canna Cabana, New Leaf, Meta Cannabis and Kushbar. Forecast to have around 115 stores by end of 2021
2. Online retail – has 2 brands, both of which attract millions of viewers per month – Grasscity.com and CBDcity.com
3. Wholesale – manufacturer of paraphernalia in US and Canada. Number of products are branded with various celebrities, Snoop Dogg, Paramount Pictures, Trailer Park Boys and many more

• Has good c-level execs and experienced executive board; hold significant stake in the business. CEO Raj Grover holds just over 21% of the shares
• Currently has a market cap of around $280m. Still significant upside to the valuation – see analysis later in post

Investment Merits
Very strong market growth:

• Business has demonstrated growth both organically (through new store openings, more online sales and greater wholesale sales), as well as inorganically through M&A
• Growth in markets which High Tide has a physical presence in is expected to be very strong. North American cannabis market (Canada and US) is forecast to grow by 30% a year to 2027 (source: research and markets)
• Analysts covering High Tide are forecasting growth in excess of this, which is positive to see and implies capturing market share
• New markets / geographies ‘opening up’, legalizing and regulating cannabis is also an exciting and realistic prospect for incremental growth:

1. The US federal legalization debate is on the table
2. Many other countries are considering this too and High Tide is well positioned for these; this is catalyzed by the fact that government debt has increased significantly as part of the response to the COVID-19 health crisis. This needs to be repaid somehow, and increasing tax rates on existing taxes is an unpopular political move. Finding new tax revenues is a more palatable way of increasing tax revenues for governments. This is especially important in countries where elections are upcoming.

• Personally I do expect to see this accelerate the agenda for the regulation and legalization of cannabis in many new countries
• Whilst predominantly Canada and US based, High Tide does have presence in some markets where cannabis is not regulated or legalized, the UK for example (~10% of Grasscity sales are made here) and so it is well positioned with a strong and established brand to capitalize on this opportunity, when / if the market ‘opens up’

Regulation

• High Tide benefits from the regulatory focus and overhang on the cannabis retail sector as it represents a strong barrier to entry, making it more challenging for new competitors to enter market
• Participants in the market need to have licenses and ensure consistent compliance with laws to continue operating – failure to comply can result in significant financial penalties
• Personally I normally don’t like investing into retail. There are usually fairly limited barriers to entry, minimal differentiation and negligible customer loyalty, however the cannabis market does have different characteristics in this respect and makes it a more compelling proposition
• Regulation also benefits those with scale, something High Tide has as the leading player in the market. It costs money to obtain and retain licences to operate and it costs money to ensure compliance with all the laws and regulations and that all staff are acting in accordance with these
• Some parallels in this respect which can be drawn to casino gaming in casinos; you don’t see new casinos popping up at the same rate which you see new restaurants or apparel stores opening

Demand

• There’s a lot to like about the demand dynamics for High Tide. It’s vice-nature means that demand is less correlated to disposable incomes. Given where we are in economic cycle, especially important consideration
• For those doubting this, check alcohol, tobacco or gambling expenditure across economic cycles historically, for a proxy

Strong performance throughout COVID-19 crisis

• Despite heavy weighting towards brick and mortar, (the most hard hit part of retail) it has effectively managed the shift to online, which is a positive
• Has relied on government support and financial assistance in the form of job retention schemes (address in more detail later in post)
• This demonstrates management are capable and have effectively navigated the challenging situation

Data

• Massively summarized from the video, (and my video on KERN) so check that out if interested in this point, however, they have unique access to supply chain data which could be monetized effectively and generate strong levels of recurring revenues
• Other established sectors have a trusted party with such unique access to data (e.g. alcohol, lithium, different foods, etc.) and the opportunity here is enormous
• I would like to see High Tide capitalize on this

Forecasts financials & analysts

• Currently 2 analysts covering High Tide, both have a buy rating on the business
• Their coverage is slightly outdated (expect this being updated soon and a further catalyst for positive price action) and their price targets are 60c; at the time their reports were published, they were forecasting a 4x upside (HITI was trading at ~15c)
• Same analysts also forecasting strong growth - 77% CAGR to 2022. They are forecasting revenues of around $250m and EBITDA of $46m. A reminder here, these are professional analysts, not YouTube students – these come from their financial models, the assumptions of which are discussed with management

​
https://preview.redd.it/9ft3iuw6zmg61.png?width=602&format=png&auto=webp&s=44f5a24a035466bac6e9e72c70eb1edcadf5091d
Valuation

• Going to go quick here, its explained more slowly in the video but High Tide is currently valued at a significant discount to the other listed peers
• Looking at EV / FY+1 Sales multiples – EBITDA not meaningful as some of the peer group are EBITDA negative and High Tide itself has only recently become EBITDA positive

https://preview.redd.it/83j8aqdkzmg61.png?width=342&format=png&auto=webp&s=f06ec34f6de10eeae049710dd59c494f6ef697c9

• Personally, I think Planet13 is the most comparable given its business model
• Taking both Planet13 multiple and peer group average multiple, this is then applied to High Tide’s forecast FY+1 sales to calculate an enterprise value – this is adjusted for net debt to get to a market capitalization and then divided by the share count to get an implied share price
• The table below shows the implied stock price valuations from this analysis

​
https://preview.redd.it/1z2ap11mzmg61.png?width=406&format=png&auto=webp&s=775ddc0c9d7e99412dbb4eb1fbbf8ed4645bc235
NB – assumed the following:

1. Net debt will change in coming year given the capital structure and a large number of convertible notes – this has been ignored given it will have small impact on the price
2. The share count will change as a result of dilution from various instruments – if this bothers you massively then look at the valuation discount on the basis of the enterprise value as it does not impact this (and only slightly on the market cap given minimal impacts to cash from instrument execution, etc.)
3. Not accounting for any stock split, consolidation or any other M&A deals
4. The FY21 financials are on the basis of the mean broker estimates from Thomson Reuters – Seeking Alpha has different and slightly outdated ones

Investment Risks & Mitigants / Outstanding DD points
Exposure to changing regulation

• US is only a small part of the market which High Tide addresses, while a change in regulation would have a big impact on the company, currently it is unlikely this would happen, given the discussions about potential federal legalization
• Canada regulation is established and not going anywhere
• Other countries likely to legalize and regulate cannabis, as outlined earlier

Dilution

• No escaping that there will be some significant dilution for shareholders, as pointed out in the table below, but this should be already priced into the stock
• Potential that new equity issuances could occur to help finance growth, but provided this growth is delivered, it should be accretive for the stock price

​
https://preview.redd.it/n8dzmapozmg61.png?width=602&format=png&auto=webp&s=12e0e8bbd93f0c5c17920e7a5c5fad2559cc8bf0
Potentially misleading cost basis information

• A risk that investors need to be aware with for all companies which have relied on government financial support during COVID-19 measures. Such support has resulted in the number of businesses going bankrupt decreasing massively – this is at a lower level than it ever normally is and is masking some real underlying issues within companies. As investors we need to be open eyed about this
• As High Tide has benefited from support in the form of the Canada’s Emergency Wage Support scheme, there is the risk that once this is lifted it may become apparent that the cost base has not been effectively managed
• Personally, I think this is mitigated by the synergy analysis conducted as part of the M&A. A full cost base analysis would have been conducted to calculate the potential $8.4m synergies so strong likelihood that this is under control, but should keep on our radar and reassess

Marketing expenses and celebrity licenses

• Need more information to ascertain whether these are underpinned by a compelling ROI. Seen a lot of people suggest this is a great positive, but the impact on sales volumes from these is unknown, as is the terms of these license agreements (e.g. split between upfront fee vs. volume-based fee)
• No escaping the fact that it is an increased cost and so need to understand the ROI this generates to determine whether it really is compelling
• Is there really more demand to pay a premium for Snoop Dogg bongs, Guns n Roses papers, Cheech & Chong grinders, or whatever they may be?
• So far management have suggested this has been helpful in driving new sales, but this is something to dig into more

If you want to check out the video, it would be appreciated: https://youtu.be/qsjwU7kkPsw

It’s Coooolin ! Hey there!
Are you new to HUT? About to fire it up for the first time? Here’s a guide for you! ... and tips at the verrryyyy end!!

Knowing the Menus

There’s a bunch of things to do in HUT under different categories they are ...
• HUT Central
• Solo Play
• Online
• Auction House - sets
• Team
Each of these have various things underneath them, so let’s talk about them.
HUT CENTRAL
First off we have a scroll-through menu on what new content is out.
New content; packs, and players gets released every week day at 5pm EST , unless it’s a Holiday - then we’ll get the content a day earlier.
You will see when the content is out of packs by the timer and the date on the banner shown - Winterinternational Players released Monday were a week long to pull.
We will see new events come into HUT bi-weekly. This event ends soon, so we will see a new Event next Friday at 5pm EST.
Team of the Weeks are Wednesdays at 5pm EST. Available for the Week.
HUT RUSH
What else is there on HUT Central? You can go directly to HUT RUSH game mode by going to the banner using the left stick, highlighting it and clicking “X” or “A”.
HUT Rush is 2 game modes , normally one is Traditional Hockey gamestyle, and other is Arcade Hockey gamestyle with “moneypuck” attached.
Play games, win, get points, rank up in tiers. Get rewards - instantly. You can net 18.5k in coins, and 2 and a half gold collectables normally — or 100 Gold Players for 3 Gold Collectables, once. — willl talk about later. This is a limited time set, ending Tuesday @5pm EST.
Objectives / Milestones
You will also be available to see what Objectives / Milestones are close to completion. Click on this, and you will be shown the “Daily” Objectives. If you do all these, you get a Monthly Collectable, and 1,250 coins for the day.
Weekly Objectives are the same thing, finish all those up within a weeks time (Friday at 5pm EST - Friday at 5pm EST) and get a cool 5k, plus an Untradable Premium Pack - worth 7,500 coins.
Milestones have infinite time, do those for coins, players, packs. Do them all? Get yourself an Icon or Gold Collectable. — I’ll talk about these later.

Solo Play

Under Solo Play there is Squad Battles , and Challenges.
What is Squad Battles?
Squad Battles is playing your team against the A.I. for points. The higher difficulty; rookie, semi-pro, pro, all-star, superstar - and opponents OVR - i.e., 77 or 88 - the more points you can obtain. To get max points, score 5 goals, and have 20 shots on net. Points will increase as more people play, and get updated weekday, 5pm EST. The more games you play, and win the higher the rank you will get. Aim for at least Pro 2 , which is 4-5 games.** Squad Battles resets on Wednesday - 5pm EST and you will receive your rewards on Thursday at 5pm EST. —- some people still don’t know this, so have that memorized and you’ll know more than some people.
Squad Battles affects your win-loss ratio, and Players Stats
Squad Battles rewards you in Tradable Packs, Coins, and HUT Sweats CHAMPS points
Challenges
Challenges are a great way to earn a coin stack, and receive free packs - usually earned at the second last - last challenge in the “Event Challenges”. You will also receive Monthly Collectables throughout doing the Event Challenges.

• Whats unique about this event is that by getting 3 stars, you will earn a Winterinternational collectable!! - will talk about later!

If you opt not to do these Event Challenges, there are “offline” challenges to do - Starting at Rookie, and ending in Superstar you can net a free 200k for doing them all!! It is time consuming, but it’s 200k worth!
Challenge Coin Tiered

Online

Rivals Mode
What is Rivals?
Rivals is playing against people online. PS+ or Xbox Membership is required in order to play online.
Play your first 5 games, get entered into a Division.
Do well - win lots in a row, and you’ll be able to go up in Divisions. This gives yourself better, and bigger rewards. Want to get those rewards in a higher tier, but you’re afraid you’ll lose the division? Hold off, and don’t play. Rivals resets Tuesdays at 5pm EST, Rewards available Wednesday at 5pm EST.
Each game gives you points, as well. You get more points winning than losing, duh. More points will net you better rewards for the week. I normally just aim for Gold.
You can choose from Tradable packs, Untradable packs (2 times the amount as tradable) or coins.
Play a friend
You can play your friend in HUT. They will obviously use their HUT team, and you’ll use yours. You can use expired loan players in this. Make up your own rules, and have fun!

Auction House

Buy players, jerseys, logos, coaches, arenas, cellys, jersey numbers, goalie masks in the Auction House. You can also sell your own, as well. Simply click on the “Auction House” . You can change the category by clicking “X/A” and scroll over to your designated category you want to buy. - Also filter out the things if you want a specific player, or event.
You will have the option to click down and sell players, view them in the next tab and see how much time is left, and also see what price they go for at the very end at the “Sell Transactions” - it will show you what you’ve sold, and by clicking “R2/RT” you will have a timestamp, going back a week, month, year, or all-time. Clicking “L2/LT” you will see your sold items, and expired items — if they didnt sell they’ll go here.
• Since you are new?? There is a “Market Crash” happening right now. Load yourself up with “Base” 84+ cards for cheap - Mackinnon, Kane, McDavid - best Base player - Hedman, Vasilevskiy, etc., —- Tall goalies are “meta” , as well as “speedy” players. —
I would also suggest buying TOTW Players, they will rebound in price.
Sets
Do your re-rolls what even is a “re-roll” ? A reroll is trading in 8 of a specific “level” to 2 of the “next level” players. For example 8 Bronze Players to 2 Silver Players. 8 Silver Players to 2 Gold Players. Lastly, we have 8 Gold Players to 2 Gold Players with one being an 80+ Player. I would not suggest doing the Gold -> Gold reroll
You can also trade in Monthly Collectables you get from the Daily login for a Free Gold Collect / Icon. This costs 30 Monthly Collectables. You can also get packs, or a 80-82 player. You can get 2 per day - Daily Pack you get every 24hrs, plus doing the Daily Challenges.
When a player gets 50 Gold Players, you can lock those into a Gold or Icon Collectable. Each will help your team in various ways, lets look at it.
There is a set right now under “Winterinternational” where you trade in 100 Gold Players to 3 Gold Collectables, I highly suggest this, especially as a new player - redeemable twice
—- The Winterinternational Collectables from the Event Challenges gives you a free Gold Collectable or helps with building a 91/92 random player, or specific player. For the free Gold Collectable you need 21 Winterinternational Collectables. —
Icon Collectable - Untradable Master Icons. 1 Icon Collectable is an 85 Master Icon. There’s 84-89 OVR Master Icons available. Each one requires more and more Icon Collectables.
—- Master Icons will eventually go to 99 OVR. Will require more Icons. Lower OVR Icons will need more Icons to get to Max OVR - 99. Higher Icons - Gretz / Lem. will require less.
To get Lemieux / Gretzy it is 7? Icon Collectables.
Gold Collectables - Tradable / Untradable Event Master Set Players (MsPs). Less Gold Collectables will net you an Untradable MSP , More Gold Collectables will net you a Tradable MSP. You can also get yourself specific 92 MsPs this event by doing their tasks. — They are Untradable. —
Normally I go Tradable, and sell them for more coins. This allows you to build your favourite team the fastest.

Team

Store
Also under this is “Store” . Right now until Tuesday at 5pm EST you can get a free 90 OVR player! What a great way to start! Just pick your favourite one - THERE IS NO WRONG CHOICE!!
Seriously grinds my gears seeing a post “what 90 is the best” “who should I choose?” It is YOUR GAME! What works for others , may not work for you. Pick YOUR FAVOURITE!
Base & Premium Packs are always there. Base packs are 5k coins, Premium Packs are 7.5k coins. Every other weekday we will see a new pack enter the store. New Events bring more packs, containing specific stuff. One guarantees a Gold Collectable, and a Winterinternational Player. Since Boxing Day is today, there are packs out for it!! These packs end on Monday at 5pm EST.
A player can also buy packs by purchasing “points” to purchase points, click the Triangle or Y button in the store.
To see how much a pack is in “points” it is the Green Circle “Pucks” besides the coins. Currently the guaranteed Winterinternational and Gold Collectable pack is $25.
Team
Change your team players, lineups, goalies, coaches, add better players, etc.,
You can change your strategies by going to “Manage Lineups” and “Strategies”.
Also there is the “Settings” to fix your camera, puck size, visual / audio, and controls.
—- My Collection —
Click on this, see every possible card you will be able to buy, and collect. Click “Triangle” to view all your players, jerseys, arenas, etc.,

Free Beginning Tips

• HUT is not a race. Be patient. Better cards will be out every month , OVRs will increase.

My hints?

• PLAY THE GAME YOUR WAY!! BUILD YOUR OWN TEAM!! Use your favourite players for maximum fun, happiness, and enjoyment. So what if no one else uses “said player” its your team - not theres. What works for you may not work for them, vice versa.
  
• Before hitting into a game, click R3? This pops up what Ping you wanna use. It’ll try and find a game below or at the ping you set. If you dont find an opponent within 30 seconds, you’ll be finding an opponent out of this ping zone range.
  
• Use your 100 Gold Players for the 3 Gold Collectables.
  
• Play up on RUSH to try and get Max Tier for the free 84 for your team. This will give you 18.5k , and the 100 Gold players needed for the 3 Gold Collectables.
  
• If you can, try and do the 100 for 3 Gold Collectables, again. This will give you 6 Gold Collectables.
  
• Play Squad Battles, and Rivals. Take UT (second option) for Rivals. This will ensure lots of Gold Players for Gold Collectables. (I always choose UT, even if my team is stacked. You can’t change my mind on doing anything different.)
  
• DONT go for Lemieux or Gretzky. Yes, it is your HUT Team, but don’t go for it off the bat. I’d suggest a tradable MSP - then you can use the coins to play the market, and buy your Master Icons that you want.
  
• Buy Base Speedy players - Doughty, Duchene, Mackinnon, Kane, etc., whoever floats your boat. All are cheap nown
  
• Buy TOTWs for Profit.
  
• Save on Gold Collectables. Have enough to get your first tradable MSP and sell for your coinage.
  
• Save up coinage. Try and do Daily’s every day.
  
• Spend coinage everywhere, one “Star Player” will not help your team.
  
• World of Chel also gives you HUT items, every 10 items if you feel burned out.
  
• Cross - Creases are so normal way of scoring, its no need to get mad about em now, use em to score if theyre open if you wanna play that way, too.
  
• Take into account this while buying points thisss
  

———————-
This is my HUT Guide to you, new HUT player, or Old HUT Player reading this for fun.
I hope you enjoy HUT.
If you get frustrated or run down? I would suggest playing a different game-mode, game, or simply taking a break from the gaming system in general. That way you will be fired up to play again, and have fun!
See you guys when new content gets released for another post!
Comment down anything a new player would need to know to get their game started, and tips!
• Coolin Killin It
(Life is like a puzzle, you just have to find the right piece.)

Your 11-minute Tuesday report in 2562 words.

gas prices could rise due to currency fluctuations

Russian gas price (at the border) had increased from $150 to $165 per 1000m³ in 2019. Although the Russian currency Ruble was devaluing against the Dollar, Armenia was/is paying for gas with Dollars.
Since 2019, the Pashinyan administration has been trying to convince Russia to implement a different gas payment mechanism within the EAEU trade bloc. Making payments in Rubles instead of Dollars was one of the priorities:
"We are constantly talking about high dollarization within the EAEU, but we still pay for Russian gas in dollars. Our proposal was that it would be more correct if we paid for gas in rubles, because I think it is more logical, also within the EAEU," said Pashinyan in early 2020.
This idea was also shared by Vladimir Putin's personal adviser back in October 2018. It appears the EAEU has been working towards this goal lately.
But meanwhile, Armenia has to pay for Russian gas in Dollars. With Armenian Dram devaluing against the Dollar, the pricing for consumers will likely be revised. Consumers pay 139 Drams per cubic meter. This was calculated in 2020 when $1 was 480 Drams. Today $1 = 520 Drams.
Large consumers pay in Dollars and have their rates adjusted periodically, while small consumers (general public) pays in Drams.
Armenia imports 2.2 billion m³ gas from Russia annually, at the price of $165 per 1000m^3. 0.7 billion of it is consumed by the general public.
Dram was devalued by 6.6% since November. This could prompt the internal gas company to raise the prices, including for the general public.
https://armenpress.am/arm/news/1039886.html
http://www.armbanks.am/en/2020/04/07/128024/
https://neftegaz.ru/en/news/energy/406887-armenia-should-pay-for-russian-gas-in-rubles/

Public Council meets drone and robotics industry

The Public Council (linked to PM's office) held a meeting with engineers from the drone, robotics, AI, and nano-tech industries. They discussed ways to help the state to develop the military-industrial complex, drone production, aviation, and to bring their quality to international standards.
https://factor.am/327477.html

former PACE MP sentenced to 4 years for taking bribes from Azerbaijan

An Italian court has concluded that Italian PACE representative Luca Volonte, who is the former head of the European People's Party, took €2.4 million in bribes from the Aliyev regime in 2012-2013.
The bribe was handed over by Azerbaijan's PACE delegation leader Suleymanov. The scheme was coordinated by an Azeri lobbying firm based in Brussels. In return, the MP gave Azerbaijan favors during PACE and Italian Parliament sessions.
https://armenpress.am/arm/news/1039927.html
Tags: #caviar

POWs and searches

The search crews in Artsakh discovered bodies of 10 soldiers and 1 civilian in Jabrayil, Hadrut, and Sgnakh regions. The civilian has already been identified by his relatives. The cause of death is being investigated.
Many bodies under the possession of the Armenian side are yet to be identified, while more bodies will likely be found during daily searches for the foreseeable future. Overall, 575 calls have been made by families who are looking for missing relatives, says the Russian humanitarian envoy in Artsakh.
https://armenpress.am/arm/news/1039900.html , https://www.panarmenian.net/arm/news/289293/
Human Rights Ombudsman Tatoyan once again criticized Azerbaijan for intentionally politicizing and delaying the POW swap mission. "It is against international laws to file felony cases and arrest POWs because that's a form of a prohibited punishment. Azerbaijan is also hiding the true number of POWs."
The Ombudsman has noted that Armenian residents in Tegh, Vorotan, and several other bordering villages have lost access to 2500 hectares of farming lands due to border changes. (some lands that were internationally recognized as part of Azerbaijan were given to Azerbaijan after the war).
https://armenpress.am/arm/news/1039933.html , https://factor.am/327226.html , https://www.armtimes.com/hy/article/204175

POW discussions: general prosecutor meets Azeri counterpart

Chief prosecutor Arthur Davtyan and his Azeri counterpart were invited to Russia. The three sides held a conversation about the establishment of future contacts in the field of international law and other related topics. Prosecutor Davtyan mentioned the importance of implementing the November 9th statement about the return of POWs, "which will serve as an assurance for implementation of other [trade unblocking] issues."
https://armenpress.am/arm/news/1039953.html , https://armenpress.am/arm/news/1039972.html

how much will a new railway network cost?

Azeri economists believe it will cost around $430 million to build a railway network connecting Kars(TR)-Nakhijevan(AZ)-Meghri(AM)-Zangelan(AZ)-Baku(AZ). Overall, if you add Gyumri between Kars and Nakhijevan, it could cost about $434 million.
Economists believe Armenia can use this network to connect with Russia via two directions: Gyumri-Nakhijevan-Meghri-Baku (southern trip), or Ijevan-Ghazakh-Baku (northern trip).
https://www.panarmenian.net/arm/news/289313/

rumors & rebuttals: traitors are not selling Azeri juice in Armenia

Telegram channel Mediaport circulated rumors that "Azeri Sandora juice is being sold in Armenia". The misinformation was picked up by several outlets and caused confusion among the buyers.
Fact-checkers contacted Sandora's local importer who said the producer is a Ukrainian company that sells its product in multiple post-Soviet republics, so they have one unified tag that contains information both in Armenian and Azeri languages.
https://fip.am/14469

4 Dutch MPs receive medals for friendship

Among them is ethnic Kurdish MP Sadet Karabulutu, who publicly criticized the Turkish-Azeri aggression during the war.
https://www.armtimes.com/hy/article/204216

food prices in Artsakh

Pricing for 43 commonly-consumed items was examined by the consumer protection agency in Artsakh. 12 became more expensive, 5 cheaper, 26 remained the same.
Onion +25%, cottege cheese +6%, milk +6%, gloves +5%, ..., pear -12%, rice -1%, eggs -1%, butter -1%.
Several dairy product prices went up, and since Artsakh has dairy companies that own dominant market share, the consumer agency will launch an investigation to see if there was price-fixing.
https://armenpress.am/arm/news/1039946.html

seismic resistance assessment for old buildings

A significant portion of Armenia's large apartment complex buildings were built half a century ago. They may not be seismically safe, considering Armenia's geolocation. After the 1988 earthquake, some buildings remain populated despite being deemed highly unsafe. Many other buildings have safety irregularities.
It is necessary to assess the situation, so the Urban Development Committee has drafted a bill "Methodology for assessing the priority of increasing the seismic resistance of buildings and structures".
https://armenpress.am/arm/news/1039887.html

IRS will closely monitor gambling industry / RFID chips & servers

IRS press release: gambling facilities and online betting services will be more closely monitored. We worked with international experts to digitize the gambling industry and bring it on par with international standards.
All gambling machines and platforms operating in Armenia will be connected to one server which will be connected to a monitoring Center. All betting and winning transactions will be recorded.
The Center will also install RFID microchips in casinos to monitor the movement of chips, the chips purchased or won by players, in real-time.
The government's Digital Council has approved the bill, which is yet to be discussed and voted in the Parliament. The goal is to be able to monitor the financial flows in this sector and to estimate the actual revenues. It will combat money laundering. (BHK skipping a Parliament session due to "COVID" in 3, 2, 1, ... /joke)
https://armenpress.am/arm/news/1039915.html

new "public council" will advise Nature Ministry

Nature Minister Romanos met several environmental organizations and environmentalists and discussed the creation of a new Council, which will advise him on nature protection issues, help draft bills and roadmaps, work with other environmental organizations and NGOs. The Council is accepting applications.
https://armenpress.am/arm/news/1039896.html

large quantities of illegally-cut trees were busted

... by Ijevan policemen during a routine patrol on Sunday. Three cargo trucks were filled with wood.
https://armenpress.am/arm/news/1039960.html

rammed through the gates

The police have arrested the father of a missing soldier who used his Vaz 21 vehicle to ram through the Defense Ministry's entrance gate before smashing it into a building on Sunday.
https://armenpress.am/arm/news/1039957.html , https://www.panarmenian.net/arm/news/289315/

"turn off the camera"

Context: An incident happened last week between parents of drafted soldiers and military officials at a military unit. The parents wanted assurances that their sons would be safe after being deployed on Artsakh borders. The parents wanted to know why Armenian soldiers are still being sent to Artsakh "despite the November 9th statement saying Armenians should withdraw from Artsakh."
During the confrontation, an incident happened between a military official and a journalist. The official struck the camera and instructed it to be turned off. Several media outlets released a message condemning the officer for hindering the journalist's work.
https://armenpress.am/arm/news/1039973.html

infrastructure upgrades

Four settlements in Kotayk province (Yeghvard, Nor Gegh, Aragel, Zovuni) have a newly renovated irrigation pipeline as part of a govt subsidy program.
https://www.armtimes.com/hy/article/204202

today in history

1932: First Yerevan tramway began operating in Yerevan
1951: The UN Convention on the Prevention and Punishment of the Crime of Genocide was implemented.
https://armenpress.am/arm/news/1039885.html

get your free colonoscopy today

The National Center for Oncology has purchased the latest generation tools and will perform a free and enjoyable colonoscopy for residents over the age of 45, for the next 6 months.
The goal is to detect suspicious growths at an early stage. It's the third most common cancer among adults in the world. It has become more common in Armenia in the past decade. When detected early, it can be fully treated.
https://armenpress.am/arm/news/1039911.html

COVID stats

+1885 tested. +355 infected. +729 healed. +5 deaths. 8393 active.
The death rate has been 1.8%. The infection reproduction rate was 0.84 in the past two weeks, down from 1.43.
https://armenpress.am/arm/news/1039906.html , https://armenpress.am/arm/news/1039943.html

COVID numbers have declined, so what do we do?

... we lift some of the restrictions!
"Aye, aye, Captain!"
"I can't hear you!"
"The rule that limits attendance to non-commercial gatherings to no more than 60 people has been removed. All other safety requirements remain in place," said a Healthcare official. "You can enter Armenia via air or land by presenting negative COVID test results that were taken within the past 3 days. If you don't, you will be tested at the airport and will need to self-isolate until the results arrive."
https://armenpress.am/arm/news/1039931.html

Armenia will soon import COVID vaccines

Healthcare Ministry: we are negotiating with multiple entities. The first batch of vaccines will arrive between late-January and mid-February. We are negotiating with producers whose vaccines have passed the necessary tests: Sputnik V, Pfizer, Moderna, and AstraZeneca. In the first phase, the vaccines will be given to the most vulnerable 10% of the population.
https://armenpress.am/arm/news/1039921.html

Sputnik V vaccine has already been tested in Armenia

Healthcare Ministry: no complications were reported by the 15 patients, including Minister Torosyan. The often-discussed "skin redness" in the injection area has not been observed, either.
The first injection gave a 91.4% efficiency. The second increased it to 94%. Even if the vaccine doesn't fully prevent the infection, it can save the patient's life by making the case mild (is that right??).
https://armenpress.am/arm/news/1039925.html

the new COVID strain: good news, bad news

Doctor Davit Melik-Nubaryan: the version of COVID that mutated in the UK will eventually reach Armenia. Preliminary data shows that those who have already been infected and gained immunity from the original COVID will be immune to this new strain. It is believed that the immunity will last 6-12 months for the majority.
The good news is that the new strain isn't more deadly and doesn't result in heavier cases. The bad news is that it spreads a lot faster. The Healthcare system could be overloaded again.
The vaccines against the original strain will likely work against the new one. Pharmaceutical companies may have to modify the vaccines, but it will only take weeks.
Closing borders with the UK won't be helpful to prevent it. We may already have the new strain. We need to develop a new strategy from the ground up.
Viruses mutate all the time. It's part of the evolution. Sometimes they cause more severe symptoms, sometimes lesser. From the evolutionary and survival standpoint, viruses want to cause less severe symptoms for the host so they can have a chance to spread wider.
https://armenpress.am/arm/news/1039856.html

Armenian scientists will study the COVID strain

CDC chief Bakunts: Armenia will have the ability to study the genetic mutations of the coronavirus. Active work is underway to invest in research resources. Meanwhile, we can submit a virus sample to a WHO laboratory to conduct a study for us.
https://armenpress.am/arm/news/1039962.html

families with newborn children receive mortgage subsidy

450 families have so far taken advantage of a government subsidy program that helps with purchasing apartments. ֏526 million will be paid as part of this 2020-2023 program. It is part of a recent initiative to boost the birthrate.
Two other aid programs went into effect in mid-2020. Provincial families received a downpayment subsidy equalling 5% of the total price. Another one subsidizes insurance payments.
The same family can apply for all three programs, and there is no age limit for parents.
https://factor.am/327385.html

diaspora-government cooperation expands: iGorts

iGorts is a program that recently recruited 48 highly skilled diasporan Armenians to visit Armenia and work at 19 various government agencies. Three more volunteers have arrived today to begin their work: Shila Palyan from Canada, Zaven Ayvazyan from Russia, and Anahit Mikaelyan from Cyprus.
https://www.armtimes.com/hy/article/204211

Yerevan to install 32 more elevators in apartment complexes

Arabkir district is the next recipient. Hundreds of units were installed in 2020. They replace the decades-old elevators that have become dangerous and poopy. The new elevators come equipped with running water and flush so you can drain your crap /s.
https://armenpress.am/arm/news/1039954.html

have you been buying stuff right and left lately?

...because trade turnover increased by +34%, and the number of printed receipts by +7%, during this year's New Year's holidays.
֏91 billion was spent between December 29-31, which is ֏23 billion more.
https://www.armtimes.com/hy/article/204195

would your majesty be pleased to take a salt bath?

Nerqin Getashen will have a halotherapy "salt bath" center to help alleviate certain conditions. It's the first in Gegharquniq province. There will also be rooms for aromatherapy (oils), ogyxenotherapy (oxygen cocktails), and massage.
The owner claims it helps boost immunity and alleviates breathing, allergy, and insomnia issues (take the claim with a bath of salt).
https://armenpress.am/arm/news/1039974.html

first Yezidi theater to open in Armenia

"шəp' y əBин" or "war and love" will be the first performance in a newly opened Yezidi theater in Ejmiatsin. It's part of a «Եզդիների կողքին» cultural initiative. The crew had planned a major performance about Yezidi national legend but the 44-day war began and some were drafted.
The crew ended up performing the "шəp' y əBин" during the war. It's about the importance of Yezidis in Armenia, and their love for the country. The January 17th performance will be dedicated to Yezidis who died fighting.
The performers aren't professional actors but they received acting training on-the-fly. "It seems to work because their enthusiasm is great. A very good team has been formed," said the producer.
https://armenpress.am/arm/news/1039941.html

Aram Khachaturian House-Museum will resume "Musical Thursdays"

This year's first classical concert is dedicated to Ruben Babayan, "the BFF of Armenian musicians."
https://armenpress.am/arm/news/1039916.html

Netherlands college will donate large quantities of school supplies

Several thousands of desks, chairs, furniture pieces, computers, lockers, etc. are being loaded in containers to be shipped to Armenia.
The Hermann Wesselink college is renovating its building with new items so they decided to donate the old stuff to Armenian kids. This will be enough to equip 15 provincial schools.
https://factor.am/327135.html

donations to Artsakh & recovering soldiers

www.1000plus.am (recovering soldiers & their families)
www.HimnaDram.org (for Artsakh & Armenia)
www.ArmeniaFund.org (U.S. tax-deductible)

archive of older posts

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disclaimer

All the accused are considered innocent unless proven guilty in the court of law, even if they "sound" or "appear" guilty.

Hello folks,
For my research analysis and writing class my professor let me pick any topic I want. (her mistake) So for my final term paper I chose to come up with a method of determining a guide to the use of the "rule of cool." I got a A on the paper so I figured I'd share it with you fine folks as well. It is rather lengthy so I've included the abstract first. The 8 tips for dungeon masters is near the end (third session), the first and second parts deal more with the philosophical and ethics of games. So, if situational ethics and a discussion on the Mechanics, Dynamics, and Aesthetics of Play are of use for you, be my guess.
I am a relatively new DM so I spent a long time researching and trying to absorb what would make me a "good DM". With that cavate please keep in mind I know next to nothing compared to a vast majority of the DMs here. I can think of no place better to have this paper peer-reviewed, picked apart and "rebutalled" to death than here. If you feel offended, challenged, or angry reading this... Please understand I am a moron borrowing the works and words of far smarter people. If you feel that "this is the WAY" again... I am a moron... so ... with out further ado.

Abstract:

The choice to be a stringent rule-follower without leniency using fanatical legalism in a game can be a source of contention between someone acting as a referee and/or “Game Master” and players of a game. Likewise, to approach games with a sense of fanatical antinomianism, or to completely ignore the rules and simply let players do whatever they want, tends to offer no challenge, and or reason to play that specific game. Using ethical theory frameworks such as situational ethics, natural law, and utilitarianism this paper seeks find the philosophical principles of what moments are acceptable and actually beneficial to bend the rules of a game. As such, it is important to define games, briefly discuss why games are played, and roles rules have on games. The game Dungeons and Dragons 5th edition will be used as the principal example. With “rule for rules” established, seven tips on how to implement it this rule using advice and guidance from some of the most well known “Dungeon Masters” in the modern era will be provided.
Much of this paper relies on the works of Joseph Fletcher, Sheila Murphy; Benard Suits, Robin Hunicke, Marc LeBlanc, and Robert Zubek for the ethical and philosophical discussions around games. For the practical advice, it relies primarily on the works of Matthew Mercer, Brennan Lee Mulligan, Benjamin Scott, Patrick Tracy, Kelly Mclaughlin and Monty Martin.
Players are your friends, or at the very least your fellow human beings. As such, seek out what is best for them. Games are about many things but principally about enjoyment. It’s okay if the player does not get exactly what they want, so long as they still had enjoyment. How it happens is up to the players, the one running the game, and whether the rules were used to enhance the experience or not. It’s possible to find that balance by asking these questions in order: “How will this decision affect: the final enjoyment of all at the table? the narrative? the rules in the future?”

**“Once upon a time, around a table…”

A man behind a cardboard screen sits across from a woman wearing a funny hat. He is frantically reading through the pages of the various books at his disposal. He finds the reference he is looking for, but it is not clear. “It is technically against the rules, it is barely within the realm of possibility, but the idea is so creative…” the man murmurs to himself. Exasperated, the man smiles a crooked grin and explains, “Well you can certainly try… give me an acrobatics check.” The woman throws a piece of plastic resin on to the table. The dice reads, “18.” The man sighs and then laments, “fine… how do you want to do this?” The table erupts in cheers, as high-fives are given from the others around the table. The woman adjusts her hat, as she gleefully explains how her character will use the momentum of several falling barrels to move across the map in a single turn without having to use all her character’s movement.
As a “Dungeon Master” (DM) for the tabletop role playing game, Dungeons and Dragons (D&D), I can say without a doubt that many DMs have encountered extremely similar events as the one described above. The choice to be a stringent rule-follower without leniency can be a source of much resentment between the DM and the players around the table. Likewise, to completely ignore the rules and simply let players do whatever they want offers no challenge, no reason to play. In terms of D&D rule enforcement, as is with many events in life, the choice of always being either a “Harsh Disciplinarian” or the lenient, “Laissez Faire Guide” is a false dichotomy. Instead, seeking balance between the two choices based first on the overall needs of the players, second on the needs of the story, and third on requirements and rules of the game should be the norm.

Session 1: What is the Relationship between, Players, Games and Rules?

The 19th century philosopher and founder of modern cultural history, John Hughes once wrote, “Play is older than culture, for culture, however inadvertently defined, always presupposes human society and animals have not waited for man to teach them their playing.” ¹ Why do humans play? Is it instinctual? Bernard Suits was a Distinguished Emeritus Professor of Philosophy for the University of Waterloo and his essays are in part responsible for the field of philosophy of games in the late 20th century. In his book, “The Grasshopper: Games, Life and Utopia,” Suits’ book uses Aesop’s fable about the grasshopper to argue that play is what we would do in a perfect civilization. He believed that in a world devoid of work, humans would still seek out challenges through play, suggesting that it is human nature to challenge ourselves.² But is that the only reason someone plays a game?
One YouTuber opined that “In a practical sense, games facilitate systemic thinking by getting us to view abstractions, but also engender creativity by getting us to play.”³ If true, these are essential tools for humanity to function as an intelligent race. This makes sense from an evolutionary level as to why humanity would develop play, but is there more to it than “games encourage outside the box thinking?”
The landmark paper titled, “MDA: A formal approach to game design and game research” is one of the earliest attempts to formalize the field of video game design theory and it is fundamental to how modern game designers look at these systems. It serves to define the importance of mechanic, dynamics, and aesthetics of play and is instrumental to helping understand what players will expect out of a game. We will discuss more about dynamics and mechanics later, but first let us focus on aesthetics.
Aesthetics of Play Defined

Term	Definition	Examples
Sense Pleasure	Enjoyment derived from how it stimulates the senses	The visuals of a game, sound, and music, feel of the dice, etc.
Fantasy	Enjoyment derived from the ability to step into a role that cannot be experienced in real life	Playing a game as a magic wielding sorcerer or rocks in the far flung reaches of outer space
Narrative	Enjoyment derived from game as drama, it is about the stories and experience gained	Heavily story driven games such as Last of Us, Dungeons and Dragons, Final Fantasy
Challenge	Enjoyment derived from overcoming an arbitrary obstacle	Platformers like Mario, or even drinking games like beer pong, or corn hole; social games like charades, etc.
Fellowship	Enjoyment from working cooperatively as a group to accomplish a goal	Team based or social games such as Among Us, the card game Spades; save the world mode on Fortnite
Competition	Enjoyment from showing dominance	Chess or Go, Battle royal games such as Fortnite or PubG or Call of Duty; Fallguys; darts Poker; Uno, Killer bunnies or Magic the Gathering;
Discovery	Enjoyment from uncovering the new or discovering news ways to play a game.	These can range from searching to find things to choose your own adventure Minecraft; Zelda Breath of the Wild; simple matching games; the board game Betrayal at the House on the Hill; or games like Fable; Dragon Age Inquisition; or Mass effect
Expression	Enjoyment from showing an aspect of one’s self; or games that allow full customization of characters	Creation games like Minecraft; role play games like fallout 4; world of warcraft or Fortnite
Submission (aka Abnegation)	Enjoyment from being able to “turn of the brain; and tune out the world” or what is also known as zone out factor.	Bejeweled; candy crush; the lever-pull games at casinos, solitaire, etc.
	(Source: Portnow & Floyd, October 2012)5

Aesthetics are things like sense pleasure, fantasy, the narrative of the story, challenge, fellowship, discovery, expression, and something called submission.⁴ There is an additional aesthetic that most game designers also consider when designing games termed as “competition”.⁵ These are all reasons people play games and it is important to keep all these in mind when acting as a DM.
The table above works to define these terms more appropriately and makes it easier to reference later. The reasons a player may want to play a game vary and change over time. If a DM can understand their players’ goals (i.e., what the player hopes to get out of the game) the DM will be able to understand why someone might want to perform a certain action, play a game, or want to ignore a certain rule in the first place.
On that note, what are rules in games? Think about it… Games are weird… well I should say the act of playing a game… is weird. Suits once wrote in his article, for the “Philosophy of Science Association Journal,” "To play a game is to engage in activity directed towards bringing about a specific state of affairs, using only means permitted by rules, where the rules prohibit more efficient [means] in favor of less efficient means, and where such rules are accepted just because they make possible such activity."⁶ In other words, to play a game we create rules that prevent us from achieving a goal through the easiest means available. Instead, we make something more difficult and we play a game. For instance, in basketball, it would be far easier to simply carry the ball all the way to the basket instead of dribbling it.
In D&D, there is a similar activity to dribbling. It is called a “dice roll.” It is something that players must make to see if they succeed or fail at a task. The player rolls a 20-sided die and tries to get above a certain score to succeed. Players can roll normal, with advantage, or with disadvantage. Rolling with advantage allows the player to roll the D-20 (the 20-sided die) twice and use the higher number. Rolling with disadvantage also has the player roll the D-20 twice, but they must take the lower number rolled instead. It introduces a chance of randomness, and players will find any excuse they can to avoid having to make a roll with "disadvantage." In his book, The Grasshopper, Suits argues that we do this because it is the act of overcoming that limitation that we find enjoyment. By taking on these restrictions and accepting these limitations, we take on what he coins as a "lusory attitude" which allows us to play the game as it is meant to be played.
Suits would argue that by not playing the game according to the rules as written, the player would have only achieved a “quasi-victory” not really worthy of achievement. He also goes on to say that even the act of “failing to win the game by virtue of losing it implies an achievement, in the sense that the activity in question -- playing the game -- has been successfully, even though not victoriously, complete.”⁷ So, according to Suits, it’s better to follow the rules of the game and loose than to not follow the rules and win. It’s important to point out that the aesthetics of play had not yet been defined and Suits’ work mainly focused on the “challenge” aspect of play. This is where many sports and game philosophers begin to find fault with Suits. In the “Journal of Philosophy of Sport,” a rebuttal of Suits’ work by David Myers asks, “What if the goal of the player isn't to follow the rules or even play the game?”⁸ For instance, what happens if the player is motivated by competition and doesn’t care about rules so long as “they win?” While an extreme example, this paradox isn’t out of the realm of possibility. Therefore, focusing on just the challenge aesthetic of game play and simply playing the game “rules as written” can lead to a disconnect between what the player desires and the game itself.
Jesper Juul, an Associate Professor in the School of Design at the Royal Danish Academy of Fine Arts, wrote in his textbook on video game design, “Rules specify limitations and affordances. They prohibit players from performing actions such as making jewelry out of dice, but they also add meaning to the allowed actions, and this affords players meaningful actions that were not otherwise available; rules give games structure”⁹ Basically, without rules we cannot even have play. However, if the player ignores the rules that player won’t be able to enjoy the full experience of the game, because the rules both afford the opportunity to enjoy the game and provide the obstacles in the first place.
How the rules affect actual game play is where Mechanics and Dynamics come into play. (See, I told you we would get back to it eventually.) Mechanics are the rules and systems that govern chance to create the game we experience. Dynamics are how those rules come together to govern the strategies of that game. In D&D, an example of mechanics is how a player would have to roll a 20-sided dice to see if an action would succeed. Dynamics are the actions the player takes to manipulate the situation and give themselves advantage in the roll. Some examples of this are using a spell caster’s familiar, flanking an enemy in combat, using the bend luck trait, or lucky feat. This is akin to how the rules of poker dictate that bluffing is allowed (mechanics); but how the bluffing player conceals their tells and bets is entirely up to that player (dynamics).
What happens when the player’s desired aesthetics and the mechanics don’t allow for the dynamics the player wants to use? This is where it falls on the DM to determine if the game can handle a little rule bending. In the Dungeon Master Guide’s introduction, it states “The D&D rules help you and the other players have a good time, but the rules aren’t in charge. You’re the DM, and you are in charge of the game…” However! It goes on to say, “The success of a D&D game hinges on your ability to entertain the other players at the game table.” What is a good way to approach this? Is it THE DM IS ALWAYS RIGHT, able to enforce their will on the players whenever it suits their need? Should the DM strictly enforce the rules and narrative of their planned story without the need to appease the players’ wants and desires?... well… The DM COULD do it, but it won’t be long before their players stop showing to game sessions. Just like the rules, without players, there is no game. Or as one notable professional DM and YouTuber once put it:

“The game you weave belongs to the players as much as yourself… so make sure to humor them every once in awhile by giving them a chance to be extraordinary" - Patrick "the Goddam DM" Tracy ¹⁰

Session 2: The Ethics of a Dungeon Master

So how does someone seek a balance between the rules and the players? Enter situational ethics. Situational ethics, first proposed by philosopher and first professor of ethics at Harvard Medical School, Joseph Fletcher,** is an attempt to seek a middle ground between two ethical schools of thought: Legalism and Antinomianism. In legalism, morality must come from a strict set of rules that must be obeyed at all times and cannot be deviated from or broken for any reason. Antinomianism, on the other hand, is the idea that there should be no rules, you should be able to do what you want, whenever you want (lawless society). ¹¹
In D&D terms, "Fanatical Legalism" would be similar to what many DMs would characterize as "Lawful Stupid," where a certain player's character enforces harsh judgement without ever showing mercy to those who would break the law regardless of the circumstances… even to the detriment of the party… or that small band of orphans who were stealing food out of desperation…
Likewise, in D&D terms, "Fanatical Antinomianism" would be similar to what DMs would characterize as "Chaotic Stupid," where a player's character completely ignores consequences an action would bring and simply act according to their whims… even when it's an obvious trap… that has a 100 percent chance to damage not only your character, but the other players as well.
Fletcher's work states that the morally right thing to do depends on the situation and can change throughout the situation, but at the same time, there is a universal “moral law” on which to base our actions that he called "Agape" love. Derived from the Greek word of similar pronunciation, Fletcher sought to define Agape as a means to show love for your fellow human. In his book titled “Situational Ethics,” Fletcher states, "All laws, rules, principles, ideals and norms, are only contingent, only valid if they happen to serve love."¹² Or to put it a different way, a desire to see your fellow human be happy is and should be the goal. It is not really a feeling, but an attitude to do what is best for others.
In terms of the D&D alignment chart, this would be easiest to define as whether someone is "Good" or "Evil." Whereas a “good character” is someone who acts for the betterment of others regardless of personal motivations, conversely an “evil character” acts out of their own self-interests regardless of how this action would affect others. Those that follow the concept of Agape would be “good characters.” Those that do not, would be evil.
This is where the so-called “Rule of Cool” comes into play. Mathew Mercer, an extremely acclaimed DM, comedian, and writer of D&D’s “Explorer’s Guide to Wild Mount,” and host of the show “Critical Roll,” defines the Rule of Cool as a trope in the D&D community that is “the willing suspension of disbelief for the sake of a cool moment.”¹³ It’s used in moments where the use of an certain object or action would be nearly impossible according to the mechanics of the game, but because it is a “cool dynamic,” the DM allows it. But what is “cool?” Is it a player that is normally too nervous to speak up being able to do something unique on time despite it being against the rules? Is it a player that has spent considerable time perfecting a skill and being able to perform a truly “epic task” (such as the jumping across barrels to effectively triple their movement distance)? Is it succeeding in persuading the main villain to befriend the party through a series of increasingly complex but successful rolls?
In all these situations listed above, there is a common theme that ties all the principles of what this paper is trying to address together in a simple phrase. As a DM, before making a ruling ask, "How will this decision affect the final enjoyment of all at the table?" Now a DM cannot give the players everything they want. Doing so cheapens the truly extraordinary moments. Finding the right balance can be difficult. That is why the flow chart above is suggested when trying to figure out whether it is a good time to “Remember the Rule of Cool.”
https://i.redd.it/f362ghdjlqf61.png

Session 3: “Well… You can Certainly Try”- Some Famous DM

Finally, we can discuss how the desire to make the most enjoyable experience for everyone at the table plays out using real-world examples and advice from some of the most well-known DMs in the business. Using the concept of Situational Ethics’ Agape, we can see how to work in the rule of cool using eight tips for Dungeon Masters.
Tip 1: It is advised to know your audience.
Not everything is as it seems, so be sure to pay attention to your players and look at them when you are describing the situation. Make note of how they react when tones or themes change. Remember those reasons people play games mentioned earlier? This is where those come into play. Additionally, while not something outright suggested, it is nevertheless important to take team dynamics into account.
The book “Four lenses unfolded” describes how various personality types can interact and work to solve problems. In it, the book describes four primary temperaments: Green (analytical), Blue (empathetic), Orange (adventurous), and Gold (goal oriented). Unlike most other personality tests, four lenses theory suggests that while we have a dominant personality at any given moment, other aspects of these personalities can manifest as well. Being able to draw on these aspects at will is the mark of a “mature” individual.¹⁴ As a DM/referee, coach, or manager, being able to do this and adapt to the needs of the players will take player engagement to the next level.
Tip 2: Establishing and Managing Expectations Early and Often, Works to Prevent Disappointment and Confusions
Mercer once put it this way, “Establish early on in your campaign how much of a level of crazy you're willing to allow. This allows for players to better understand what to try for and what not to try for.”¹⁵ Whether you are a teacher, referee, coach, parent, supervisor, or mentor, establishing expectations with those involved mitigates problems before they arise.
One of the main tools DM’s have for this is that is recommended by Mercer, as well as nearly every DM in existence on the internet, is the “Session Zero.” Session Zero is a term used to describe a session where no play occurs but instead rules that will be used and rules that will be ignored or bent is established. It also serves to establish a theme the players can expect from any campaign. Using the first chapter of the DMs guide will help considerably in establishing this. Additionally, one of the best guides for this is laid out by the DM YouTubers known as “the Dungeon Dudes” in their video titled, “How to Run a Session Zero for Dungeons and Dragons 5e.”¹⁶ But always keep Agape in mind throughout this process. In this step, it means actively listening to the players. The DM may want a gritty, tough, realistic, and challenging campaign. But if the players want a high fantasy power trip, some adjustments are going to need to be made to the campaign. Listening to players and changing the plans accordingly is not easy. It requires A LOT of humility and ego suppression. Especially when the DM has already designed how the game is going to go… which leads us to the next tip.
Tip 3: It is important to develop a healthy relationship with failure.
Celebrated author Orson Wells once wrote; “If you want a happy ending, that of course, is dependent of where you stop your story.”¹⁷ This applies to both the players and DM. There will be times when the DM is tempted to ignore the rules because the consequences seem dire. The player fails an athletics check trying to use a dynamic that had a high-risk, high-reward moment. Now the player’s character is doomed to fall several hundred feet down a ravine to what is likely certain doom in lava. But this isn’t the end. That player’s character is most likely dead, but their death could result in a moment of drama and tension for the players. It’s the very real chance of failure that encourages players to think critically about a situation and experience excitement and tension. Brennon Lee Mulligan, the DM of the D&D streaming show, “Dimension 20,” put it this way… “if you are not allowing for failure, you are essentially just telling a story,” and thus never actually playing a game (make-believe as Suits would put it). ¹⁸
Another thing to consider is that through failure, we can often find comedy as well as ways to encourage players to think critically and find new escapes, ¹⁹ at least according to the mind behind the “Replaying the Curse of Strahd” videos, Benjamin (Puffin Forest) Scott. Lastly, Mercer strongly advises that if a DM allows too many “rule of cool moments” to happen in succession, the weight of the moments and consistency of the game will be lost. ²⁰
Players that are afraid to fail will not try. Mercer explains that “Most role play games are designed to forge a heroic story (showing feats of legend) so let the players try! Let them fail, and occasionally succeed!” This is where his catch phrase “you can certainly try” comes from. ²¹
Tip 4: Whenever Possible, Avoid Taking Things Personally
In his lecture on not talking things personally, soccer referee and public speaker, Frederik Imbo, explained there are two sides of a coin to keep in mind when trying not to take things personally: “It is not about you,” and “it is about you.” ²² Look at the other person’s intentions not just yours. With that in mind, it is okay to give yourself empathy and speak up. When someone seems upset with you, ask what are they hoping to get out of this releasing of emotions? Additionally, ensure that your pride isn’t preventing you from making the correct call. Yes I am talking about Ego again; it is that important! It is the DM’s world, but it is the players’ game. Without both, the world and the game, you do not have D&D.
D&D has a weird paradox of being both a story and a game. It has both a narrative as its core premise, but it is, in fact, also a multi-player game. Without at least two people you cannot really have much fun. DMs should make sure that everyone at the table enjoys themselves.
Tip 5: Mechanics are important precisely because they are a means of delivering impactful story moments.
Remember that rule of cool concept? Extraordinary moments don’t happen often, and this is by design of the mechanics of the game. Humans remember the novel and unique way more often than the mundane. Mundane things tend to blend into the background. It’s the unexpected moments that highlight the more impactful story moments, especially if that moment is tied to strong emotions.²³
With that in mind, Mulligan suggests looking at where the players are putting their resources before deciding how to rule on a situation. Have they invested experience points/levels into a specific skill that is relevant to this situation instead of just something they can use in combat? If so, reward them for wanting to do something that is a part of the world you are creating together. ²⁴
Tip 6: Discourage metagaming but allow it whenever possible.
Look for any and every excuse you can to give advantage on an arcana check by setting the DC low (10 or higher). If the player succeeds, they can use what they know… they are going to anyway, but at least then they can talk about it with the other players.
According to the DM guide Chapter 8, metagame thinking means “thinking about the game as a game,” Examples would be thinking “the DM wouldn’t throw such a powerful monster at us so early in the game, so we will surely be saved and not have to take this fight seriously,” or “the DM spent A LOT of time describing that door… maybe we should search it again!” ²⁵
The problem with metagaming isn’t really about what advantage the players are getting in the game. The problem is that manipulation of the dynamics, when used to extremes, can spoil the plot line of the cumulative story being told. This can lessen the drama and tension elements resulting in decreased enjoyment of those involved. Additionally, it can create a dynamic where the DM is constantly having to escalate encounters to challenge the player, encouraging a potentially toxic “DM vs player” mentality.
For instance, how would a street orphan barbarian with no formal education and a wisdom of …let’s say very low…be able to know that liches phylactery is the source of their power. The solution here depends on why the players are playing this specific game. Is it the narrative of the story? Is it discovery? If these aren’t anywhere close to the reasons these players came to the game table in the first place, the narrative is not going to take as much of a factor into decisions. Metagaming in this instance isn’t going to be much of a problem.
Tip 7: Keep in mind, the ending is “A” destination, but the story is about how you get there.
A DM may hold off the extra cool moments for the final parts of the game, keeping their players in complete darkness and grit the entire way. However, without at least some levity along the way, some “water for the weary travelers,” as Mercer put it, they may not make it to the end.²⁶ So, do not be afraid to relax the rules from time to time to give them those cool moments, but do so sparingly lest the destination lose its luster as well. Always keep in mind it’s about the enjoyment of crafting and playing in the world together that makes this, or really any game, fun.
Tip 8: When all else fails… take a break and have the Tarrasque attack the party.
When all else fails, roll two D-20s out of players’ views… fake a worried expression… role a D-100 (also out of player’s view) look over the score concerned as you pour through your notes… then explain sorrowfully… “I’m sorry… The Tarrasque has risen and has attacked the party. Everyone roll initiative.” This is actual advice from the DM manual. It is right under “faking illness and running away.”²⁷ The point is this: never be afraid to pause or call a game when it’s over or needed.
Maybe something incredibly uncomfortable for a player has happened. Maybe the DM has reached the end of what they were able to prepare for that session. Perhaps everyone is hungry or needs a bathroom break. Maybe the entire table has gotten to a point where no one can agree on anything and team dynamics are breaking down. That game world will always be there… but your friends won’t. Cherish that moment and make as many good moments as possible. Additionally, taking breaks both in-game and in the real world allow for quiet moments. These allow for the greater moments to shine through and the players will enjoy their experience more.
https://i.redd.it/1ncu361zlqf61.png
The graphic above serves to summarize the eight tips above and show their relationship with the narrative, enjoyment, and the rules when put in the context of situational ethics. From this graph, the relationship between the eight tips and how they play into the narrative, enjoyment, and rules of the game can be seen. Each of the tips can influence many parts of the game but they are intended to primarily influence the aspect of the game they are adjacent to. “Knowing the players” should influence the narrative and what kind of enjoyment the players receive. What mechanics are used to enable the game is causally related to how the rules are used and so on. Please note that Agape is at the center as, with every decision a DM makes, considering what is best for the players should be central to the experience of any game.
The Epic Conclusion
Through crafting a game-world together with your players, a DM has the potential to tap into one of the greatest traditions humanity has: camaraderie with friends. At the end of the day, these players are your friends, or at the very least your fellow human beings. As such, you should want what is best for them. Through trials, hardships, and drama, we get to put the punctuation on the moments of excitement, joy, happiness, and bliss. It is okay if the player does not get exactly what they want, so long as they still had enjoyment. This is because getting everything we expect is sometimes boring. However, always keep in mind that at the end of the day, games are about having fun. How that happens is up to the players, the DM, and whether the rules were used to enhance the experience or not. It’s possible to find that balance by asking these questions in order: “How will this decision affect: the final enjoyment of all at the table? the narrative? the rules in the future?”
1 Huizinga, Johan . "Homo Ludens". Routledge & Kegan Paul Ltd. (1980), pp. 1., accessed January 19, 2021. http://art.yale.edu/file_columns/0000/1474/ homoludens_johan_huizinga_routledge_1949.pdf
2 Suits, Bernard, “The Grasshopper: Games, Life and Utopia,” Broadview Press. Ed. 3. (November 29, 2005): 54–55. Accessed December 31, 2020. https://www.goodreads.com/book/show/803547.The_Grasshopper
3 The Game Overanalyzer, The Aesthetics of Play | Why We Play Games, and the Search for Truth and Beauty in Game Design. The Game Overanalyzer. (January 11, 2020), accessed 6 January 2021. Video 18:44. https://youtu.be/lONsZwjVDzg
4 Hunicke, Robin, Marc LeBlanc, and Robert Zubek. "MDA: A formal approach to game design and game research." Proceedings of the AAAI Workshop on Challenges in Game AI, vol. 4, no. 1, p. 1722. (2004). Accessed January 11, 2020 https://www.aaai.org/Papers/Workshops/2004/WS-04-04/WS04-04-001.pdf
5 Portnow, James; Floyd, Daniel; Aesthetics of Play- Redefining Genres in Gaming. Extra Credits; (October 17, 2012), Video 9:13. Accessed December 30, 2020. https://www.youtube.com/watch?v=uepAJ-rqJKA&list=PL3N9QD4_yI-BlnwWUL8hhjpKgqRul3xAa&index=11
6 Suits, Bernard. “Discussion: Games and Paradox.” Chicago University Press. Philosophy of Science Association Journal, Vol 36, no. 3 (September 1, 1969). pg 316–.321. Accessed December 30, 2020. https://www.jstor.org/stable/186226
7 Suits, Bernard. “Discussion: Games and Paradox (1969)
8 Myers, David. “Game as Paradox: A Rebuttal of Suits.” Journal of the philosophy of Sport 39, no. 1 (May 1, 2012). Accessed December 30, 2020. https://search-ebscohost-com.ezproxy2.apus.edu/login.aspx?direct=true&AuthType=ip&db=s3h&AN=87342252&site=ehost-live&scope=site.
9 Juul, Jesper. "Half-Real: Video Games between Real Rules and Fictional Worlds", MIT Press, (Aug 19, 2011) pp.57-59
10 Tracy, Patrick. DM Tips: The Rule of Cool. Fantasy Bango. (October 20, 2017). Accessed December 30, 2020. Video 2:23 https://www.youtube.com/watch?v=x8aAIFalx6s
11 Fletcher, Joseph F. Situation Ethics: The New Morality. Westminster John Knox Press, (1997). Page 17-26 (accessed January 20, 2021) http://bit.ly/Googlescholar_SItuational_Ethics
**Please note that just because Fletcher’s Situational Ethics is used prominently, this is not an endorsement of all his views. Fletcher’s work has been used to justify terrible atrocities, such as eugenics, this should serve to point out that any philosophy taken to extremes can lead to terrible outcomes
12 Fletcher, Joseph F. Situation Ethics: The New Morality. (1997)
13 Mercer, Matthew. The Rule of Cool! (Game Master Tips). Geek & Sundry. (February 16, 2016). Accessed December 30, 2020. Video. 5:52 https://youtu.be/fWZDuFIYkf0
14 Bryce, Nathan K., “Four Lenses Unfolded: A Deeper Understanding of Temperament Values,” Insight; (January 29, 2002,).
15 Mercer, Matthew. The Rule of Cool! (Game Master Tips). (2016).
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17 Wells, Orson, "The Big Brass Ring." Santa Teresa Press (1987, January 1) 1-148
18 Mulligan, Brennan; Scott, Benjamin. “Animating Your Table (with Benjamin Scott) | Adventuring Academy Season 2 | Ep. 16 |” Adventuring Academy. Dimension (2020, December 28). Accessed December 30, 2020. Video 1:24:18 https://www.youtube.com/watch?v=4IbVxEKpipo
19 Mulligan, Brennan; Scott, Benjamin. “Animating Your Table (with Benjamin Scott) (2020)
20 Mercer, Matthew. The Rule of Cool! (Game Master Tips). (2016)..
21 Mercer, Matthew. The Rule of Cool! (Game Master Tips). (2016)
22 Imbo, Frederik, "How not to take things personally? | Frederik Imbo | TEDxMechelen" TEDx Talks; (March 4, 2020) accessed 10 Jan 2021, video 17:36 https://www.youtube.com/watch?v=LnJwH_PZXnM&t=381s
23 Kensinger, Elizabeth. Remembering the Details: Effects of Emotion. US National Library of Medicine National Institutes of Health. (May 4, 2009) Accessed 2021, January 30 https://www.ncbi.nlm.nih.gov/pmc/articles/PMC2676782/
24 Mulligan, Brennan; Scott, Benjamin. “Animating Your Table (with Benjamin Scott) (2020)
25 Mearls, Mike, and Jeremy Crawford. "Dungeons Master's guide". Renton, WA: Wizards of the Coast. (2014) accessed 29 January 2021 https://www.dndbeyond.com/sources/dmg/running-the-game#MetagameThinking
26 Mulligan, Brennan; Mercer, Matthew. Building Your Own Campaign Setting (with Matthew Mercer) | Adventuring Academy. Dimension 20. (2019, April 3) Accessed December 30, 2020. Video 57:01 https://www.youtube.com/watch?v=sig8X_kojco&t=2867s
27 Mearls, Mike, and Jeremy Crawford. "Dungeons Master's guide". Renton, WA: Wizards of the Coast. (2014)-accessed 20 January 2021. https://www.dndbeyond.com/sources/dmg